Bitcoin explosion and ALT coins thread

[kenetics]

So you're sitting on 3.5 mill worth of bitcoins and are wondering if you should cash out a bit to pay off your 100k mortgage?

Never change Sherdog.

No , I already mentioned was typo earlier in thread. 1,400 was what I meant .

 

[kenetics]

Bitcoin can in fact be regulated...


So we agree it can be regulated. And taxation is merely the first measure. The US government -- and many superpowers before them -- have literally waged war over currency


It's not the Fed, it's the US government. They wouldn't need to shut the internet down in order to crack down on Bitcoin enough so as to completely devalue it


The Fed is controlled and empowered by the US government


Institutional investors stocked up on toxic MBSs during the housing bubble. Has little to do with the actual value of the underlying asset

The second Bitcoin moves from a mere store of value into something resembling an actual currency, it will become subject to the full force of the US government. Currency is serious business; a government is only as powerful as its monopolization of currency (because when you control the money, you control the people). The USD is by definition the only legal tender in the US and everything else only exists insofar as the US government allows it to exist

Unless you shut down the internet you can't shutdown Bitcoin. You and I know that citizens and big corporation need the internet .

Other countries are already ahead of the game accepting Bitcoin . China knows what's coming and is and taking proper steps to not rely on the us dollar

Usa will have to form as well if they want other countries to use their fiat . Usa fiat is being devalued as we speak. All previous currency have failed before because of the same issues .

And if you think the government is not controlled by big intuitional money, then I don't know what to tell you lol

 

[Cygnus A]

Im pretty sick that i cashed out when it was 2k.

 

[faustian]

Unless you shut down the internet you can't shutdown Bitcoin. You and I know that citizens and big corporation need the internet .

Bitcoin doesn't have to be shut down in order for it to be devalued. Criminalizing Bitcoin will devalue the hell out of it

Other countries are already ahead of the game accepting Bitcoin . China knows what's coming and is and taking proper steps to not rely on the us dollar

China's entire economy is a house of cards built on the USD

Usa will have to form as well if they want other countries to use their fiat .

No. Other countries use the USD because USDs back their own currencies

Usa fiat is being devalued as we speak. All previous currency have failed before because of the same issues .

What issues? You say "same issues" but you haven't actually mentioned these issues lol

There's never been an equivalent to the USD. This level of monetary hegemony is unprecedented

And if you think the government is not controlled by big intuitional money, then I don't know what to tell you lol

If you think the organizational framework of the US government was so poorly designed that some monolithic entity called "big institutional money" can control it, then you need to read some books. Money corrupts at every level of government, but powers are balanced so as to make complete control nearly impossible. The fact remains that the people ultimately control government because it is the everyday citizen, and their productivity, that gives legitimacy to any government. The second a people reject their government is when that government has to make the choice between concession and brutality. And if they choose the latter then good luck to them in funding themselves because their bonds will be worth less than zero

 

[kenetics]

Bitcoin doesn't have to be shut down in order for it to be devalued. Criminalizing Bitcoin will devalue the hell out of it



China's entire economy is a house of cards built on the USD


No. Other countries use the USD because USDs back their own currencies


What issues? You say "same issues" but you haven't actually mentioned these issues lol

There's never been an equivalent to the USD. This level of monetary hegemony is unprecedented


If you think the organizational framework of the US government was so poorly designed that some monolithic entity called "big institutional money" can control it, then you need to read some books. Money corrupts at every level of government, but powers are balanced so as to make complete control nearly impossible. The fact remains that the people ultimately control government because it is the everyday citizen, and their productivity, that gives legitimacy to any government. The second a people reject their government is when that government has to make the choice between concession and brutality. And if they choose the latter then good luck to them in funding themselves because their bonds will be worth less than zero

You don't think china trying to unlink it's self from the US dollar eventually?

You sure put alot of hope in our corrupted government. You would think you be a little aware of what corruption going on RIGHT now with the stimulus bill.


The government is owned by big corps and pharma. You going to eventually have to deal with that reality.

You seem pretty bitter about not owning Bitcoin. All these hedge funds who have been dealing with big amount of money for hundred of years know more than you and me.

No matter what you say, you can't argue why banks, hedge funds, the wealthy, exchanges are accumulating and holding Bitcoin.

These are EXPERTS on building wealth. You need to check your ego .

 

[XmarkX]

I'd like to know this as well. Is it too late to get in? If not, where does a Sherbro start.

I'm not expert on virtual coins by any means but 3 or 4 years ago I was reading a lot and doing online research to find a good crypto that was not "mainstrean" yet and somehow i got to the conclusion that a crypto named xynfin was a good option and may have a bright future , but i had a lot health problems and others things going so I never buyed it, the things is that xinfin stagnated and even lost value in his first couple of years , but now it has gained 420% in the last year now It's valued 0.0053 Usd. Any sherdogger that is well versed in crypto has any opinion or advice or info about this crypto?, I think that is still a good option and thinking of finally investing some money in it.

 

[rj144]

I'm not expert on virtual coins by any means but 3 or 4 years ago I was reading a lot and doing online research to find a good crypto that was not "mainstrean" yet and somehow i got to the conclusion that a crypto named xynfin was a good option and may have a bright future , but i had a lot health problems and others things going so I never buyed it, the things is that xinfin stagnated and even lose value in his first couple of years , but now it has gained 420% in the last year now It's valued 0.0053 Usd. Any sherdogger that is well versed in crypto has any opinion or advice or info about this crypto, I think that is still a good option and thinking of finally investing some money in it.

Those tiny cryptos are largely a long shot. Most go down to zero and will not survive. If by pure luck, you get one that does something, then that's great, but it's a huge risk.

 

[faustian]

You don't think china trying to unlink it's self from the US dollar eventually?

You sure put alot of hope in our corrupted government. You would think you be a little aware of what corruption going on RIGHT now with the stimulus bill.


The government is owned by big corps and pharma. You going to eventually have to deal with that reality.

You seem pretty bitter about not owning Bitcoin. All these hedge funds who have been dealing with big amount of money for hundred of years know more than you and me.

No matter what you say, you can't argue why banks, hedge funds, the wealthy, exchanges are accumulating and holding Bitcoin.

These are EXPERTS on building wealth. You need to check your ego .

I’m happy you’ve made money in theory. I’d advise you to sell before it becomes too big so as to be squashed

And again, institutional investors sunk billions into subprime mortgages. This fact had very little to do with the reality of these toxic assets

Your rantings about government are unoriginal and largely inaccurate in terms of big picture, but I do sympathize to a degree

 

[kenetics]

I’m happy you’ve made money in theory. I’d advise you to sell before it becomes too big so as to be squashed

And again, institutional investors sunk billions into subprime mortgages. This fact had very little to do with the reality of these toxic assets

Your rantings about government are unoriginal and largely inaccurate in terms of big picture, but I do sympathize to a degree

Funny you mention subprime mortgages corruption. Those banks got bailed out from again corrupted government.

You made my point.

 

[bowened]

TS, you got know when to hold 'em and know when to fold 'em!

If you are so far ahead that you can pay your house off, do it! That is a life-changing payoff. If you are truly there, you should do it. Your home is an investment too, so it's not like you're just cashing out.

 

[kenetics]

TS, you got know when to hold 'em and know when to fold 'em!

If you are so far ahead that you can pay your house off, do it! That is a life-changing payoff. If you are truly there, you should do it. Your home is an investment too, so it's not like you're just cashing out.

Ya. Going to pay it off.

 

[bowened]

Ya. Going to pay it off.

That’s incredible. American Dream secured!

 

[gnyg]

I think its never wrong to take out some profit.

 

[smooth assassin]

What’s the best way to buy Bitcoin ?

 

[kenetics]

What’s the best way to buy Bitcoin ?

Coinbase, gemeni

 

[faustian]

Funny you mention subprime mortgages corruption. Those banks got bailed out from again corrupted government.

You made my point.

It’s the second time I’ve mentioned it and no, it doesn’t prove you point lol. It illustrates how institutional investment in a product in no way evidences any kind of legitimacy of the product

And in attempt to follow your line of thinking: you assert that the banks control government when in reality it is government that allows banks to function. You have the casual chain entirely backwards. Special interest no doubt corrupts the legislative branch (I’m thinking Gramm Leach Bliley here) but that’s only one branch. The housing crisis was a result of failed public policy from the executive branch rather than some kind of banker overtake of government

 

[kenetics]

It’s the second time I’ve mentioned it and no, it doesn’t prove you point lol. It illustrates how institutional investment in a product in no way evidences any kind of legitimacy of the product

And in attempt to follow your line of thinking: you assert that the banks control government when in reality it is government that allows banks to function. You have the casual chain entirely backwards. Special interest no doubt corrupts the legislative branch (I’m thinking Gramm Leach Bliley here) but that’s only one branch. The housing crisis was a result of failed public policy from the executive branch rather than some kind of banker overtake of government

I have nothing else to say. You believe in our government, I get it.

 

[Stoic1]

It's too big to fail now. Too many legitimate entities are vested.

 

[faustian]

I have nothing else to say. You believe in our government, I get it.

I believe in the reality of how things work. Has nothing to do with any kind of idealistic naïveté you insist on ascribing to me. Government is very flawed but it does control

Let me ask you a question: suppose at some point you want to cash out. How would you go about doing this? And what would you convert your Bitcoin into?

 

[Bornstarch]

Where is that thread?

It seems he bought some to use a Newgroup:

https://forums.sherdog.com/threads/anyone-ever-bought-bitcoin.2411237/

https://forums.sherdog.com/posts/125214995/

"I've made a lot of money with Bitcoin. Not because I'd ever thought it would amount to anything, but I was sitting on a lot of them, then all of a sudden they went from being worth next to nothing to $1600 a pop. I sold most over a period of time. They were literally giving away 10,000 bitcoins to anyone who wanted them when they first came out.

I wish I had taken as much as I can when they were giving them away and nobody wanted them. I'd be worth hundreds of millions now.

It's safe to say BTC is here to stay, even if the feds ban it. It's the preferred currency of the black market and deep web."

I'm channeling WorldofWarcarft's spirit.. and he says the thread no longer exists, like 99% of the threads he had masterfully created.