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Buying Bitcoin

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Albert View Drop Down
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    Posted: December 16 2017 at 12:50pm
I removed the previous bitcoin thread.  I get people made a killing on bitcoin and still are.  Bitcoin has a massive future, BUT, since futures launched it's tamed it a bit.  I'm now going to Litecoin as the new Bitcoin.  Following the analysts on this one.  You can get it at coinbase.com.

Remember - no guarantees in life.  This can be a volatile ride, but if litecoin doesn't increase 10x within 12 months, I will eat a body part, lol.   I stole that line lol. 


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Post Options Post Options   Thanks (0) Thanks(0)   Quote Turboguy Quote  Post ReplyReply Direct Link To This Post Posted: December 17 2017 at 2:01pm
Originally posted by Albert Albert wrote:

I removed the previous bitcoin thread.  I get people made a killing on bitcoin and still are.  Bitcoin has a massive future, BUT, since futures launched it's tamed it a bit.  I'm now going to Litecoin as the new Bitcoin.  Following the analysts on this one.  You can get it at coinbase.com.

Remember - no guarantees in life.  This can be a volatile ride, but if litecoin doesn't increase 10x within 12 months, I will eat a body part, lol.   I stole that line lol. 





Bitcoin isn't a good buy right now. It is in about the biggest bubble since the .com burst and housing crash. Buying any now is an atrociously horrible idea for the simple fact that you are catching a falling knife. You don't buy into the market while you're at all time highs, if anything, right now you short the ***** out of bitcoin and make a killing when it crashes, and it will.

Realistically the only good time to buy into bitcoin, at this point, would be if the PIIGS countries etc start talking about bank account haircuts, because people will start flooding into bitcoin for the simple fact that it is relatively free from government control.

Any of the other, smaller, cryptocurrencies are a good buy right now for the simple reason that you're buying low in the hopes of selling big, and if it goes up a million percent like bitcoin did, you're way up. If it takes a crap, you're out a hundred bucks.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote CRS, DrPH Quote  Post ReplyReply Direct Link To This Post Posted: December 17 2017 at 5:20pm
Realistically the only good time to buy into bitcoin, at this point, would be if the PIIGS countries etc start talking about bank account haircuts, because people will start flooding into bitcoin for the simple fact that it is relatively free from government control. 

http://https://www.bloomberg.com/news/articles/2017-12-15/turning-coal-into-bitcoin-dirty-secret-of-2017-s-hottest-market

(well, except for the Red Chinese, perhaps....)

Eight 100-meter-long metal warehouses in northern China are a case in point. Bitmain Technologies Ltd. runs a server farm in Erdors, Inner Mongolia, with about 25,000 computers dedicated to solving the encrypted calculations that generate each bitcoin. The entire operation runs on electricity produced with coal, as do a growing number of cryptocurrency “mines” popping up in China.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote jacksdad Quote  Post ReplyReply Direct Link To This Post Posted: December 17 2017 at 6:13pm
TG - been a while
"Buy it cheap. Stack it deep"
"Any community that fails to prepare, with the expectation that the federal government will come to the rescue, will be tragically wrong." Michael Leavitt, HHS Secretary.
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Technophobe Quote  Post ReplyReply Direct Link To This Post Posted: December 18 2017 at 9:37am

Crypto-crackdown: EU agrees on new rules to curb bitcoin anonymity

Source:   https:////www.rt.com/news/413397-eu-targets-bitcoin-anonymity/

Absence of proof is not proof of absence.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote CRS, DrPH Quote  Post ReplyReply Direct Link To This Post Posted: December 18 2017 at 11:57am
Originally posted by Technophobe Technophobe wrote:

Crypto-crackdown: EU agrees on new rules to curb bitcoin anonymity

Source:   https:////www.rt.com/news/413397-eu-targets-bitcoin-anonymity/


You know, when Scotland was petitioning for independence (and still is, last I heard), I wondered if she could become the first country to support a "bitcoin" currency as her official money?    Think of the credibility it might lend it!  

What's the news from Scotland these days?  I know that Brexit wasn't popular up there.  

Cheers & Happy Holidays! 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Technophobe Quote  Post ReplyReply Direct Link To This Post Posted: December 18 2017 at 2:14pm
Funnily enough I voted for brexit.  The EU is too undemocratic for me.

Things have gone queerly quite quiet on the independance front, but I suspect it will flare up again post brexit; or possibly when the details of brexit emerge.

The Scottish Independance Party (SNP) have run out of logical arguments - for now.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote CRS, DrPH Quote  Post ReplyReply Direct Link To This Post Posted: December 20 2017 at 5:44pm
New topic = losing the Bitcoin that you bought!!  Cry

A bitcoin exchange in South Korea has gone out of business after being hacked, highlighting the perils of trying to cash in on this year's stunning boom in digital currencies.

Seoul-based Youbit said it was filing for bankruptcy after cyber-thieves stole nearly a fifth of its clients' holdings in an attack Tuesday. 

It's the second time this year that Youbit, which allows customers to trade bitcoin and other digital currencies, has been hit by hackers. 

In April, thieves made off with 38 billion won ($35 million) in digital currencies. The company didn't say how much was taken in the latest heist or how exactly it happened. 

South Korea's Korea Internet and Security Agency said Wednesday that it was working with police to investigate this week's Youbit hack, but that it didn't yet know who was responsible. 

Youbit said that its customers would get back about three-quarters of the value of the digital currencies they had stored in accounts with the exchange. The rest will be refunded after bankruptcy proceedings, it said. 

Bitcoin's history is littered with cases of trading platforms coming under attack. 

Earlier this month, hackers stole more than $70 million worth of bitcoins from digital currency platform Nicehash. Last year, Hong Kong-based exchange Bitfinex was briefly shut down after hackers stole more than $60 million in bitcoins. 

Related: More than $70 million stolen in bitcoin hack

Tim Wellsmore, director of threat intelligence at cybersecurity firm FireEye, said bitcoin exchanges had been slow to respond to the threats posed by hackers. 

"As the prices of bitcoin and similar virtual currencies continue to appreciate, we expect greater interest from attackers seeking to steal it," he said. 

Bitcoin's price (XBT) is now more than 15 times as high as it was at the start of the year. Bitcoin attacks fuel traders' frustrations

Suspicion for this week's Youbit hack could fall on North Korea. 

South Korean police have accused North Korean hackers of targeting at least four different exchanges this year that trade bitcoin and other digital currencies in South Korea. 

North Korea has previously denied any role in international cyberattacks. 

Related: North Korea may be making a fortune from bitcoin mania

Bitcoin, which offers layers of anonymity, has long been a magnet for criminals. 

Unlike traditional currencies like the U.S. dollar, digital currencies don't fall under central bank control and are largely unregulated. 

South Korea has become a hotbed of bitcoin activity. On a given day, the country can account for about 20% of worldwide trading in the cryptocurrency. 

Bitcoin is in such high demand there that traders can end up paying a premium of between 15% and 20% compared with prices elsewhere. 

Related: Bitcoin futures trading just got a lot bigger

Youbit was a small player in the market, which is dominated by Bithumb, a much larger exchange. 

With so many small South Korean investors diving into bitcoin, authorities are getting worried about the potential impact of a crash. 

The government earlier this month said it was forming a special task force to study the "cryptocurrency problem." 

-- Jake Kwon and Hannah Kang contributed to this article 

CNNMoney (Hong Kong) First published December 20, 2017: 2:38 AM ET
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Albert Quote  Post ReplyReply Direct Link To This Post Posted: December 23 2017 at 6:58pm
Trump's tax bill may spell the end of bitcoin and crypto trading.
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[QUOTE=Albert] Edited
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Post Options Post Options   Thanks (0) Thanks(0)   Quote DeepThinker Quote  Post ReplyReply Direct Link To This Post Posted: December 24 2017 at 12:24am
Originally posted by CRS, DrPH CRS, DrPH wrote:

Originally posted by Albert Albert wrote:

Trump's tax bill may spell the end of bitcoin and crypto trading.

Not sure I agree, Albert.  Crypto currency may be the wave of the future, and if Trump's buddies at Goldman Sachs etc. can control the trading, they will clean up.  

I'm still waiting for some country somewhere to adopt it as their official currency.  It will happen eventually. 

The problem is bit coin is WAY WAY to volatile to be used as a currency, non the less and official national one.   How can you have any confidence in a currency that has huge swings in value.... even if those swings are in the positive direction it causes disruptions to markets.

Even if that problem was taken care of....  what country out there wants an official currency that they have no control over?   Yea it  sorta defeats the purpose declaring an official currency.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote carbon20 Quote  Post ReplyReply Direct Link To This Post Posted: December 24 2017 at 2:15pm
the wan,

sorry the Bankers
 
wont let the people control their own Money ARE you MAD ,

next you might want to have a FAIR VOTE 

take care folks 

                       MERRY CHRISTMAS


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Post Options Post Options   Thanks (1) Thanks(1)   Quote Albert Quote  Post ReplyReply Direct Link To This Post Posted: December 25 2017 at 10:18am
Hi Chuck - When I posted that I was having a bad day lol.  On the contrary, cryptocurrencies will explode within this week as we approach the 1st, in my opinion.  I believe this to be a significant buying opportunity as the crashes appear to be over.  

Also - bitcoin is in fact an official currency in Japan, by law.  Japan makes up most of the trading volume, but the U.S. is running a close second, followed by Korea and and Europe.  Anyway, it is an official currency in Japan, and Russia in on the brink of doing the same, along with Australia.  
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Turboguy Quote  Post ReplyReply Direct Link To This Post Posted: December 27 2017 at 9:36am
Originally posted by DeepThinker DeepThinker wrote:

Originally posted by CRS, DrPH CRS, DrPH wrote:

Originally posted by Albert Albert wrote:


Trump's tax bill may spell the end of bitcoin
and crypto trading.


Not sure I agree, Albert.  Crypto currency may be the wave of the future, and if Trump's buddies at Goldman Sachs etc. can control the trading, they will clean up.  

I'm still waiting for some country somewhere to adopt it as their official currency.  It will happen eventually. 

The problem is bit coin is WAY WAY to volatile to be used as a currency, non the less and official national one.   How can you have any confidence in a currency that has huge swings in value.... even if those swings are in the positive direction it causes disruptions to markets.

Even if that problem was taken care of....  what country out there wants an official currency that they have no control over?   Yea it  sorta defeats the purpose declaring an official currency.


Exactamundo.

Last week Bitcoin dropped ~25% in a day. One would be a friggin idiot to buy into anything as wildly volatile as that, especially as it isn't in a massive bubble. Anytime someone who has a big pile of bitcoins sells out, many other people have what is called a "stop loss" where their Bitcoin assets automatically sell when it gets to a certain point. This can create a massive cascade effect where Bitcoin could easily lose most of its value in a day.

Because bitcoins are backed up by exactly nothing, they can explosively drop huge amounts in a very short time.

Lastly, the whining about the tax bill falls flat when facts come around.

If you worked for me, Albert, and I paid you in cash, would you voluntarily file I think it's an 8949 or would you just accept that we worked under the table and pocket everything? At this point, internet assets are in the same boat. If you transferred all your bitcoins to cash or ethereum or whatever nobody is gonna know.

And the funny thing is that I thought you guys were politically left of center. Wouldn't you want the government getting their cut? Or is this hypocrisy?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Turboguy Quote  Post ReplyReply Direct Link To This Post Posted: December 27 2017 at 9:40am
Originally posted by Albert Albert wrote:

Hi Chuck - When I posted that I was having a bad day lol.  On the contrary, cryptocurrencies will explode within this week as we approach the 1st, in my opinion.  I believe this to be a significant buying opportunity as the crashes appear to be over.  

Also - bitcoin is in fact an official currency in Japan, by law.  Japan makes up most of the trading volume, but the U.S. is running a close second, followed by Korea and and Europe.  Anyway, it is an official currency in Japan, and Russia in on the brink of doing the same, along with Australia.  


I would absolutely love some proof of either of these claims.

1. That cryptocurrencies are about to explode. Considering that there isn't any real economic catastrophe imminent and European governments aren't CURRENTLY looking to steal further from their people, I'm just not seeing economic indicators that might indicate such.

2. That Japan is using crypto as a replacement for the Yen. I'm just not seeing a large devaluation of the Yen indicating that what you're saying holds water.

Now don't get me wrong, I'm more than open to buying in given the right circumstances and indicators, but I'm just not seeing evidence of what you're saying here...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Albert Quote  Post ReplyReply Direct Link To This Post Posted: December 29 2017 at 8:24am
Hi Turbo, welcome back my friend.  Long time no talk and hope you're doing well.  I never said that bitcoin replaced the Yen.  Bitcoin becoming a legal currency in Japan is actually old news, in the crypto trading world.   


A simple google search will show tons of news when it took place in Japan, but again it's somewhat old news these days.  But suffice it to say, it is in fact a legal currency in Japan.  Russia is also doing the same.  I've been trading these for quite awhile now, and although I may not be an expert, I am well informed as I research.  I bought bitcoin at 4,000 and sold at 15,000 in a matter of two months.  I had advised people here at the time it was a good move. 

Anyway, I recently left bitcoin and heavily vested in "Ripple".  It trades at approx $1.60, and was recently at .19 cents approx. 1 month ago.  If you google Ripple, you will see it has the making to hit the big leagues. 

People can invest / trade at their own risk.  The best place to start is at coinbase.com, and from there, many buy the other coins such as Ripple at Binance.com

You can track ripple and the others to see what I'm talking about at coincap.io.  Ripple will just keep doubling.  
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Good grief there is a ton to be made here.  After you register at coinbase, shift to Binance.com to buy the alt coins.    Stellar XLM is great for long tem hold at .40 cents.    Now all are doing enj.  hehe 

Just started this FB group 30 days ago lol.     https://www.facebook.com/groups/1001805483291853/


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Post Options Post Options   Thanks (0) Thanks(0)   Quote Albert Quote  Post ReplyReply Direct Link To This Post Posted: January 07 2018 at 12:58pm
The next Amazon of cryptos?  Who knows.  Ethos trades under the symbol BQX on Binance.com.  This is not investment advice and please do your own research.  

A lot of attention on this one. 


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Dang... I'm back to going all in on Ripple XRP.  They partnered with MoneyGram yesterday and tons of huge deals looming.   Many buy it at Binance.com or KuCoin.  Go Ripple!
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