Crypto-currencies: The future is now

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ytrewq
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Re: Crypto-currencies: The future is now

Post by ytrewq » March 17, 2018, 3:36 am

Fewer Americans Hold Cryptocurrencies Than You Probably Think
https://www.bloomberg.com/news/articles ... ably-think

As the article states, USA participation is TINY, and BTC is at $8k+ and spiked as high as $19k+ (mostly on South Korean and Japanese participation). Imagine when participation doubles or triples GLOBALLY.

When the Trump-created market crisis hits this year, there will be a panic rush to crypto as redemptions tank all other asset classes as per what happened in 2008. Because of its ease of access by Joe and Jane Doe, cryptos will spike to absurd new highs on the back of a panic + FOMO + HODL.

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rick
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Re: Crypto-currencies: The future is now

Post by rick » March 18, 2018, 10:35 am

South sea bubble here we come!

ytrewq
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Re: Crypto-currencies: The future is now

Post by ytrewq » April 10, 2018, 7:13 am

Crypto still attracting smart talent from smart money.

Mike Novogratz Makes Goldman VP the COO of His Crypto Company
https://www.bloomberg.com/news/articles ... chs-as-coo

Totally contradicting current hyperbole about a demise.

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Re: Crypto-currencies: The future is now

Post by glalt » April 10, 2018, 9:29 am

I was talking to a guy who loves Bitcoin. I was teasing him a bit and asked him if he was actually willing to pay $8,000 for this risky gamble. He said that of course he was and that this is the time to buy. Better him than me. As of right now, it is $6,700.

As for myself, I'll keep my baht and dollars under my mattress. (So to speak). For the past year or so, my cash is pretty much 50/50 between baht and dollars.

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Re: Crypto-currencies: The future is now

Post by ytrewq » April 19, 2018, 1:48 am

So, I was reading this

India Is Facing a Risky Cash Crunch
https://www.bloomberg.com/news/articles ... -hit-banks

with much interest today (thinking of 1997 crash and reverberations), when suddenly, this followed:

IMF Warns of Rising Threats to Global Financial System
https://www.bloomberg.com/news/articles ... -imf-warns

So, I checked into what Trump's Fed minions have to say:

Fed's Williams Says Inverted Yield Curve Powerful Recession Sign
https://www.bloomberg.com/news/articles ... ssion-sign

Nope. Nothing to see here, they say. All is well, they say. Putin is certainly smiling as Trump's selling off the strategic oil reserves is having the desired affect:

Oil Rises Amid Shrinking U.S. Surplus as OPEC Prepares to Gather
https://www.bloomberg.com/news/articles ... les-shrunk

Over in the Crypto world, despite the rampant media and government FUD campaign and headlines, the reality on the ground and buried in every story is that crypto continues to grow:

Many Bitcoin Miners Are at Risk of Turning Unprofitable
https://www.bloomberg.com/news/articles ... mes-harder

It's not at all as if the genius(es?) who started Bitcoin could not have foreseen consolidation as a potential issue. The algorithm sorts out such issues by force, not committee. Without getting into the details, if big miners fail, the difficulty will adjust accordingly to allow smaller miners to jump back into production. BTC production remains relatively stable regardless of how much mining effort is employed or retired. Genius.

It's a good news day. More to come!

BTC currently $8,100+

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Re: Crypto-currencies: The future is now

Post by ytrewq » April 21, 2018, 2:10 am

Another good news day:

World’s Worst Stock Market Slides Into ‘Death’ Territory
https://www.bloomberg.com/news/articles ... -territory

BTC $8,500+

ytrewq
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Re: Crypto-currencies: The future is now

Post by ytrewq » May 3, 2018, 7:21 pm

Goldman Sachs jumps into crypto with both feet. Can't get any more 'Smart Money' than Goldman Sachs.

https://mobile.nytimes.com/2018/05/02/t ... sachs.html

This is a BF deal, for sure.

ytrewq
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Re: Crypto-currencies: The future is now

Post by ytrewq » May 4, 2018, 6:34 am

Oops. BTC was at $9,200 last post. Now at $9,700+.

Terrifying investment. Stay out of it. :lol:

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Re: Crypto-currencies: The future is now

Post by ytrewq » May 5, 2018, 7:14 am

CNBC Found Crypto Jesus Today

Video:

https://www.cnbc.com/video/2018/05/04/t ... r=sharebar

After a longtime history of crypto bashing and trepidation, the brown noser misfits at CNBC are now waving the "buy crypto!" flag. Puh-leeze!

As this site's main dork would say:

WINNING! :lol:

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fatbob
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Re: Crypto-currencies: The future is now

Post by fatbob » May 5, 2018, 10:30 am

ytrewq, what are your thoughts on xrp ripple? I like the the look of them...

ytrewq
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Re: Crypto-currencies: The future is now

Post by ytrewq » May 5, 2018, 11:11 am

XRP and ETH are both institutional plays. XRP is making the old financial systems the new thing again. ETH is something new altogether. Can't go wrong with either. Both expected to quadruple or more by year end.

BCH is replacing LTC. BTC for store of value play. BCH for consumer transactions play.

Do your own DD, but I'm only in major cryptos, FWIW. ICO's are too risky and smell like the dotcom mania of yore.

ytrewq
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Re: Crypto-currencies: The future is now

Post by ytrewq » May 6, 2018, 3:18 am

In all their usual infinite wisdom, the Thai government is set to impose 22% (15% + 7%) taxes on all crypto transactions.

https://www.coindesk.com/thailand-targe ... e-burdens/

To be sure, there are a plethora of crypto exchanges elsewhere where one can trade crypto, but unfortunately I am not aware of any off-shore crypto exchange that allows for trading in or converting to THB and then depositing to one's Thailand bank account. So, if the bill passes - and it is expected to pass - there may be disruption as every Thailand crypto exchange moves, or as every trader moves their funds/activities elsewhere.

International wires or debit card withdrawals are a helluva lot cheaper than paying 22%.

SOMEBODY aims to get their graft-on and cares not about crippling or murdering what could be an indirect source of significant cash inflows for the economy. The myopic vision of government is astounding.
:confused:

ytrewq
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Re: Crypto-currencies: The future is now

Post by ytrewq » May 10, 2018, 10:35 pm

ICE, parent company of NYSE solves custody solution issue. Opens door to massive institutional adoption/investment in BTC and other crypto. Suggests BTC is indeed gold 2.0.

https://www.cnbc.com/video/2018/05/08/w ... -says.html

"To da moon, Alice!"

ytrewq
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Re: Crypto-currencies: The future is now

Post by ytrewq » May 27, 2018, 10:18 am

After performing due diligence, I recently bought into the EOS ICO (eos.io).

In a nutshell, it is a decentralized operating system upon which developers can create and monetize software and services. It supports the most popular programming languages and there is a HUGE demand coming from India and other bastions of software talent to develop on it when it goes mainstream. It is currently in "alpha" stage and goes to "main launch" June 1, 2018. There are several working solutions created by 3rd parties already "live" on it, so it's not a "concept" ICO. The leadership team has a proven track record of several successful endeavors already. The EOS project started with $1 billion in private backing and has succeeded in raising ~$30 million per day for almost a year now via the long-running ICO.

It is widely considered to be the Ethereum killer app that solves native Ethereum's technical shortcomings and delivers on its vaunted promises. I won't even attempt to go into all of the things and ways EOS should dominate. It should become HUGE. EOS will absolutely eclipse ETH market cap soon (months?) after "main live" when the EOS token starts trading openly on exchanges.

This is the last week to get in on the ICO. Cheers!

--------
BTW, Thailand's leading banks are currently either piloting or implementing blockchain solutions. I expect they may roll blockchain out to government (land, immigration, etc.) within the next decade. No more manually signing multiple copies of stacks of documents.

Blockchain - It's a real thing.

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Re: Crypto-currencies: The future is now

Post by glalt » June 11, 2018, 12:26 pm

How long before Bitcoin totally fails and is worthless? I guess that I am not smart enough to understand how something with nothing backing it can be worth anything except wet dreams.

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