Do You BitCoin?

[Pine Barrens Mafia]

Just now, Foxx said:

lol. 10 years in computer science is an eternity. there are going to be so many changes in 10 years you won't recognize any of it.

 

I assume you know what I'm talking about.

 

https://www.dwavesys.com/quantum-computing

 

The company at that link already has a 2000-qbit computer. That's a whole lot of processing power.

 

[plenzmd1]

4 minutes ago, row_33 said:

 

It's time to get out of the "insider" investment when the taxi drivers and homeless and other types are telling you about how great it is.

 

they said that at one point bout the "internet" as well. Like I said, there may be an play to sell the top short term, and if i can figure out how to buy some puts and use leverage incase it craters in the next 30 days I will, but go long in a much bigger way cause I think this is starting to go mainstream. 

[Pine Barrens Mafia]

1 minute ago, plenzmd1 said:

they said that at one point bout the "internet" as well. Like I said, there may be an play to sell the top short term, and if i can figure out how to buy some puts and use leverage incase it craters in the next 30 days I will, but go long in a much bigger way cause I think this is starting to go mainstream. 

And they would have been right...depending on which bit of the "internet" you were invested in (AOL, Yahoo, etc)

 

[Foxx]

9 minutes ago, joesixpack said:

 

I assume you know what I'm talking about.

 

https://www.dwavesys.com/quantum-computing

 

The company at that link already has a 2000-qbit computer. That's a whole lot of processing power.

 

yeah, i know all about the threat of quantum computing. i'll tell you who should be worried about it more than anyone and that's the NSA. all their files that are encrypted will become public knowledge. can you imagine GUS running around like a chicken with it's head cut off )not that they already don't) trying to put the genie back in the bottle? if you thought wikileaks was on top of it last year for the election cycle, you ain't seen nothing yet, lol.

 

as for DWave, i doubt they seriously have a working product. 

 

Forbes is a main stream publication so this may mean something to those here.

 

Why Quantum Computing's Threat To Bitcoin And Blockchain Is A Long Way Off

 

 

6 minutes ago, plenzmd1 said:

they said that at one point bout the "internet" as well. Like I said, there may be an play to sell the top short term, and if i can figure out how to buy some puts and use leverage incase it craters in the next 30 days I will, but go long in a much bigger way cause I think this is starting to go mainstream. 

CmE will be online before the end of the year or so they claim.

 

CME Group Announces Launch of Bitcoin Futures

Edited November 29, 2017 by Foxx

[Pine Barrens Mafia]

12 minutes ago, Foxx said:

yeah, i know all about the threat of quantum computing. i'll tell you who should be worried about it more than anyone and that's the NSA. all their files that are encrypted will become public knowledge. can you imagine GUS running around like a chicken with it's head cut off )not that they already don't) trying to put the genie back in the bottle? if you thought wikileaks was on top of it last year for the election cycle, you ain't seen nothing yet, lol.

 

as for DWave, i doubt they seriously have a working product. 

 

Forbes is a main stream publication so this may mean something to those here.

 

Why Quantum Computing's Threat To Bitcoin And Blockchain Is A Long Way Off

CmE will be online before the end of the year or so they claim.

 

CME Group Announces Launch of Bitcoin Futures

 

If there's one thing I know about tech, it's that it's probably more advanced than you, I, or Forbes know it is.

I also know that from what I've read, google, the NSA and a couple other large organizations have either bought d-wave machines or have invested heavily in shared time.

 

Edited November 29, 2017 by joesixpack

[Jauronimo]

2 minutes ago, joesixpack said:

Here's how I know Bitcoin isn't for me:

 

One of my absolutely computer-illiterate customers called me today and asked me if I was into bitcoin. I told her no and told her why not (mainly the future of quantum computation rendering it valueless). She told me I need to put 10k into it.

 

I just laughed and hung up the phone.

 

If THAT woman is involved, and she can't even manage her email client or CRM software, then it's clearly a hype machine.

 

Very true.  There is a lot of dumb money in the game for sure.  Substantial price movement is coming from institutional money entering the space as well. There are many people buying in who don't know what they have purchased.  Especially people scooping up ETH (myself included when I first bought in) who don't even know what it is.

 

1 minute ago, plenzmd1 said:

I have no clue what quantam computation is, and I do believe there may an opportunity short term to sell the top, but in the research, I have done in the last few days I cannot see crypto going away. Every major exchange will be listing bitcoin futures in the very near future is a very good sign it aint going away. 

 

Trying to figure out the proper valuation and such is the tricky part

That was what ultimately convinced me to get in.  The blockchain platforms have broader significance than just a unit of exchange.  BTC was the first and most recognizable but its also technologically limited in the near term and so is its function. 

 

The Ethereum platform has major potential for running decentralized applications and is prime for adoption in setting up derivatives which gives Ether, the fuel which powers the engine, value beyond just a unit of exchange or store of value.  ETH looks like a long term hold to me and still benefits from all the speculation in the crypto space.   

[Pine Barrens Mafia]

2 minutes ago, Jauronimo said:

Very true.  There is a lot of dumb money in the game for sure.  Substantial price movement is coming from institutional money entering the space as well. There are many people buying in who don't know what they have purchased.  Especially people scooping up ETH (myself included when I first bought in) who don't even know what it is.

 

 

 

Playing poker introduced me to a simple life truth that i've followed in investing:

 

If you don't know who the sucker is at the table, it's you.

 

Edited November 29, 2017 by joesixpack

[Foxx]

8 minutes ago, joesixpack said:

 

If there's one thing I know about tech, it's that it's probably more advanced than you, I, or Forbes knows it is.

I also know that from what I've read, google, the NSA and a couple other large organizations have either bought d-wave machines or have invested heavily in shared time.

 

no doubt. i only posted the forbes article because as i said, it is main stream.

 

i'm just telling ya, quantum computing is not the threat you think it is. there is not even 1% of the population involved with it. don't you think that someone with a quantum computer might go after where the money currently is before going after the 1%er's? all currency today is digital, Bitcoin is'nt even a blip on the screen at this moment in time.

 

would the Fed be thinking about it's own crypto currency if it was worried about quantum computing?

 

again, there are other things more important to be worried about. Btc is pretty far down that list.

Edited November 29, 2017 by Foxx

[Pine Barrens Mafia]

1 minute ago, Foxx said:

no doubt. i only posted the forbes article because as i said, it is main stream.

 

i'm just telling ya, quantum computing is not the threat you think it is. there is not even 1% of the population involved with it. don't you think that someone with a quantum computer might go after where the money currently is before going after the 1%er's? all currency today is digital, Bitcoin is'nt even a blip on the screen at this moment in time.

 

would the Fed be thinking about it's own crypto currency if it was worried about quantum computing?

 

again, there are other things more important to be worried about. Btc is pretty far down that list.

If i was a bitcoin/blockchain-head (I'm not) I'd be worried about a GOVERNMENT (like say PRC or the USA) that isn't too keen on cryptocurrency using QC to break the blockchain in order to maintain their iron grip on currency before it gets out of hand.

 

But that's just me.

 

 

[Foxx]

16 minutes ago, Jauronimo said:

Very true.  There is a lot of dumb money in the game for sure.  Substantial price movement is coming from institutional money entering the space as well. There are many people buying in who don't know what they have purchased.  Especially people scooping up ETH (myself included when I first bought in) who don't even know what it is.

 

That was what ultimately convinced me to get in.  The blockchain platforms have broader significance than just a unit of exchange.  BTC was the first and most recognizable but its also technologically limited in the near term and so is its function. 

 

The Ethereum platform has major potential for running decentralized applications and is prime for adoption in setting up derivatives which gives Ether, the fuel which powers the engine, value beyond just a unit of exchange or store of value.  ETH looks like a long term hold to me and still benefits from all the speculation in the crypto space.   

Ethereum introduced the Smart Contract. a public ledger that can be accessed by anyone. you can verify what a contract stipulates as well as any transaction within it. it really took the blockchain in a new and exciting direction. I have gotten into this aspect in the 'Cryptos' thread i started. the ICO is this centuries IPO. many new and exciting companies coming online and the investment potential is unbelievable. 

Edited November 29, 2017 by Foxx

[row_33]

I've worked on the attempted resolution for over 50 cases of alleged fraud (for the prosecution and defense and private mandate) and this looks like something just ripe for a massive fraud down the line, thus I have never invested in it.

 

 

[Foxx]

10 minutes ago, joesixpack said:

If i was a bitcoin/blockchain-head (I'm not) I'd be worried about a GOVERNMENT (like say PRC or the USA) that isn't too keen on cryptocurrency using QC to break the blockchain in order to maintain their iron grip on currency before it gets out of hand.

 

But that's just me.

 

 

it's already out of hand. when it reaches 3% it will be unstoppable. look at the governments around the world that are embracing Btc and the cryptos in general. sure, many are saying it is too insignificant to be a worry at this point, but it is what the rest of the world is doing that is going to put it in the realm of untouchable. Japan is probably leading the way.

 

tha being said, i fully expect the Us and Europe to be the last bastions of the fiat world. and with, in their eyes i'm sure, good reason. when you are the worlds reserve currency, why would you want to change anything. except that they will most likely be left on the outside looking in when the rest of the world rejects the USD and it's hegmony. at that point, they will have no choice.

 

 

4 minutes ago, row_33 said:

I've worked on the attempted resolution for over 50 cases of alleged fraud (for the prosecution and defense and private mandate) and this looks like something just ripe for a massive fraud down the line, thus I have never invested in it.

 

 

you do know that the ledger is public, right?

Edited November 29, 2017 by Foxx

[row_33]

13 minutes ago, Foxx said:

it's already out of hand. when it reaches 3% it will be unstoppable. look at the governments around the world that are embracing Btc and the cryptos in general. sure, many are saying it is too insignificant to be a worry at this point, but it is what the rest of the world is doing that is going to put it in the realm of untouchable. Japan is probably leading the way.

 

tha being said, i fully expect the Us and Europe to be the last bastions of the fiat world. and with, in their eyes i'm sure, good reason. when you are the worlds reserve currency, why would you want to change anything. except that they will most likely be left on the outside looking in when the rest of the world rejects the USD and it's hegmony. at that point, they will have no choice.

 

 

you do know that the ledger is public, right?

 

Oh, so something with public information is 100% bulletproof against fraud?

 

Are you SURE that's your argument to try and one-up me?

 

Think real hard....

 

[Foxx]

1 minute ago, row_33 said:

 

Oh, so something with public information is 100% bulletproof against fraud?

 

Are you SURE that's your argument to try and one-up me?

 

Think real hard....

 

nope. fraud happens in the light of day, everyday. only fools make that mistake. 

[plenzmd1]

10 minutes ago, Foxx said:

Ethereum introduced the Smart Contract. a public ledger that can be accessed by anyone. you can verify what a contract stipulates as well as any transaction within it. it really took the blockchain in a new and exciting direction. I have gotten into this aspect in the 'Cryptos' threads i started. the ICO is this centuries IPO. many new and exciting companies coming online and the investment potential is unbelievable. 

 

yes, the ICO's seem interesting. 

 

And Joe, i brought up the internet as I think its relevant. I was an investor in the mid to late 90's in "pick and shovel" companies, never bought into that "eyeball" valuation crap.While I made some good money pre-crash, also flushed a ton down the drain as started to buy into some of the crazy valuations myself.

But in the 17 years since then, made a ton of money buying some great "internet" stocks.

 

Where I am starting to get with crypto, I am convinced it is not going away, but struggling to grasp how to correctly value it. Generally agree that when the public is on one side, go the other way.Look at everything I post about betting football. But this is different, this has the potential to fundamentally change so many aspects of everyone's lives, think it is putting your head in the sand to at least not dig deep and really make an informed decision.

 

Guy who i respect the hell out of and runs big money here in Richmond is all over this stuff and started talking to me about it a couple weeks ago. Granted we were drinking Jack and Cokes at the Richmond game, but this guy is running a big-time hedge fund and it is in his potfolio, and least was two weeks ago

 

 

 

 

[row_33]

Every legit speaker on the topic states freely that this is so ripe for Criminal Enterprise to get its hooks in and sink it like the Titanic.

 

You can't gather $20 together without fraudsters getting in and finding the control risks and making off with funds in their own wonderfully brilliant ways.

 

Those trying to get you hooked in will pretend this doesn't exist....

 

 

 

 

But nothing ventured, nothing gained.

[Foxx]

6 minutes ago, row_33 said:

Every legit speaker on the topic states freely that this is so ripe for Criminal Enterprise to get its hooks in and sink it like the Titanic.

 

You can't gather $20 together without fraudsters getting in and finding the control risks and making off with funds in their own wonderfully brilliant ways.

 

Those trying to get you hooked in will pretend this doesn't exist....

 

 

 

 

define legit. anyone who is against it? the ones who decry it are the ones afraid of it.

 

again, there is less than 1% of the population in it at this point. . this is not to say that nefarious forces are not at work here, they are. the amount of scams and the sophistication of those scams is increasing everyday. this is why education is a must.

 

when Jessie James was robbing trains, do you think they said ut oh, we better stop printing money?

Edited November 29, 2017 by Foxx

[plenzmd1]

21 minutes ago, Foxx said:

define legit. anyone who is against it? the ones who decry it are the ones afraid of it.

 

 

 

I would not go that far yet. I am sure there are legit concerns about security, stability, etc and people talking about it and raising concerns is actually comforting to me. I am a sales guy, and you are nowhere near a sale when no questions are being asked especially hard ones, and no skepticism is being raised. Might as well close it as lost in SFDC when everything looks peachy keen, cause no one is taking your stuff seriously.

[Pine Barrens Mafia]

2 hours ago, plenzmd1 said:

I would not go that far yet. I am sure there are legit concerns about security, stability, etc and people talking about it and raising concerns is actually comforting to me. I am a sales guy, and you are nowhere near a sale when no questions are being asked especially hard ones, and no skepticism is being raised. Might as well close it as lost in SFDC when everything looks peachy keen, cause no one is taking your stuff seriously.

 

I start getting concerned about ideas when people present them like religion.

 

 

[plenzmd1]

9 hours ago, joesixpack said:

 

I start getting concerned about ideas when people present them like religion.

 

 

I like the way you put that , I am going to use that again some day. But having worked For companies based in The Valley for so long, every freaking product and every freaking new tech is presented that way, so maybe I am immune to it LOL. 

 

And I absolutely am just really digging into this stuff, still have a lot to learn. And just cause the price is rising , doesn’t mean the valuation is correct. Just means there is a frenzy right now. Trick is this.. still the beginning of the frenzy, or the end?

 

Good think is, people are now talking more nd more about Cyrpto. just in our little thread, you and Row 33 have had me looking at aspects of this and potential issues I have not seen elsewhere. That good, helps me make a more informed decision. May still get my skull crushed in, but at least it will be an informed skull crushing!