mead107 Posted August 20, 2017 Posted August 20, 2017 Stock pile meadcoin. Will be able to use it anywhere.
ExiledInIllinois Posted August 20, 2017 Posted August 20, 2017 Stock pile meadcoin. Will be able to use it anywhere. Word up! mead's like E.F. Hutton. "When mead talks, people listen!" Or....No stromboli for you!
DC Tom Posted September 14, 2017 Posted September 14, 2017 How's dose Bittycoins doin'? Got mine in the mail today. They're tasty, but not very filling. I was hungry again a half-hour later.
snafu Posted September 16, 2017 Posted September 16, 2017 Growing pains, I suppose. China doesn't seem to like Bitcoin. http://www.bbc.com/news/business-41276348
Just Jack Posted September 17, 2017 Posted September 17, 2017 Growing pains, I suppose. China doesn't seem to like Bitcoin. http://www.bbc.com/news/business-41276348 I heard the real reason is they want to get in on this Meadcoin thing while prices are low!
Foxx Posted October 29, 2017 Author Posted October 29, 2017 (edited) again, a shameless bump for those talking cryptos in the shoutbox.cryptos awareness is currently at about 1.5%, this known as the early adopter/innovator phase. when 3% of the population becomes involved in cryptos, they will have achieved the critical demographic awareness required to take over the monetary system. this is because the early adopters and the innovators always drive the rest of the herd. at 10%, it becomes mainstream. Edited October 29, 2017 by Foxx
dayman Posted October 31, 2017 Posted October 31, 2017 (edited) Deleted the longer post, I'll just say crypto currency is definitely "real" and here to stay even knowing some big issues will come up eventually. Bitcoin is famous and liquid so it'll stay on top but it is an inferior product. It'll be wealth storage asset but that's it. Ethereum is really cool. Look into that. Some of the smaller "alt coins" that you can only get on an exchange are cool and will appreciate. How to do it easily if you want to: 1. Buy bitcoin or ethereum on coinbase.com with bank account (takes a few days or a week to process b/c you deal with a bank ... zzzzz). 2. Transfer from coinbase to bittrex.com (an exchange where you can buy many different coins but only with other coins). This is very quick q/c you don't have to deal with a bank! 3. Trade around! Have fun. Learn. Experiement. Trades are almost instant if you are at market price. 4. Transfer back to coinbase (very quick) and cash out to the bank from there (again, this process takes days b/c ... banks ... zzzz). Fun stuff. Learn what is going on. Don't put anything in you can't lose, and really don't put more than a few thousand in regardless if you are reading this post lol. PS: To learn, start by learning about Bitcoin and Ethereum and contrasting the two. I would only spend time learning about other coins after I knew the basics of those two. Edited October 31, 2017 by dayman
PolishDave Posted October 31, 2017 Posted October 31, 2017 (edited) again, a shameless bump for those talking cryptos in the shoutbox. cryptos awareness is currently at about 1.5%, this known as the early adopter/innovator phase. when 3% of the population becomes involved in cryptos, they will have achieved the critical demographic awareness required to take over the monetary system. this is because the early adopters and the innovators always drive the rest of the herd. at 10%, it becomes mainstream. I doubt it takes over the monetary system. The average person is going to continue placing far more value in the US dollar because of its history of being a store of value and stable - even though it is a fiat currency. Heck, even people in other countries will mostly continue to "trust" the US dollar more than some imaginary digital currency they can't see on paper. I do think that fortunes are going to be made in cryptos like Bitcoin and others. Huge, huge fortunes will be made and lost. The reason I don't think Bitcoin is going to replace major currencies is because countries will outlaw it, if it begins to truly threaten their own currency. They will have to. And once it is outlawed, most Americans will only dabble with it instead of using it to replace dollars. The biggest upside I see for Bitcoin and other cryptos is if and when inflation ever actually reignites in America or other major economies. If that happens, Bitcoin and others will be used as an alternative store of value much in the way that gold is currently used. That would likely cause those cryptos to skyrocket to prices that even make $6,000 Bitcoin look ridiculously cheap. That is when the biggest fortunes will be made. I currently mine alternatives to Bitcoin as Bitcoin itself is expensive to mine paying WNY electricity rates. I do not do it as a serious business - more as a hobby. BUt if the price keeps climbing in Bitcoin, or if I could create a very cheap way to generate electricity, then I would get more serious about it. Once the big banks get their crytpo Exchange Traded Funds launched, especially the leveraged ones, I fully intend to trade them - hopefully for a large profit. But I won't be storing money in there. I will be trading in and out from the long and short side depending on trends - and keeping my investment in US dollars. As an American, you have to trust the US dollar more. Because, if the US dollar goes to hell, the entire country goes with it and chaos will reign. Better to own guns at that point. Edited October 31, 2017 by PolishDave
Augie Posted October 31, 2017 Posted October 31, 2017 again, a shameless bump for those talking cryptos in the shoutbox. cryptos awareness is currently at about 1.5%, this known as the early adopter/innovator phase. when 3% of the population becomes involved in cryptos, they will have achieved the critical demographic awareness required to take over the monetary system. this is because the early adopters and the innovators always drive the rest of the herd. at 10%, it becomes mainstream. Do you have an infomercial?
Captain_Quint Posted October 31, 2017 Posted October 31, 2017 I ordered Meadcoin online and the Feds showed up at my house. %&@!
BringBackFergy Posted October 31, 2017 Posted October 31, 2017 I have 200,000 shares of EJ Manuel stock I've been holding for a rainy day. How much Bitcoin will that get me?
Gugny Posted October 31, 2017 Posted October 31, 2017 I have 200,000 shares of EJ Manuel stock I've been holding for a rainy day. How much Bitcoin will that get me? Depends .... is his mom included?
Foxx Posted November 1, 2017 Author Posted November 1, 2017 (edited) I doubt it takes over the monetary system. The average person is going to continue placing far more value in the US dollar because of its history of being a store of value and stable - even though it is a fiat currency. Heck, even people in other countries will mostly continue to "trust" the US dollar more than some imaginary digital currency they can't see on paper. I do think that fortunes are going to be made in cryptos like Bitcoin and others. Huge, huge fortunes will be made and lost. The reason I don't think Bitcoin is going to replace major currencies is because countries will outlaw it, if it begins to truly threaten their own currency. They will have to. And once it is outlawed, most Americans will only dabble with it instead of using it to replace dollars. The biggest upside I see for Bitcoin and other cryptos is if and when inflation ever actually reignites in America or other major economies. If that happens, Bitcoin and others will be used as an alternative store of value much in the way that gold is currently used. That would likely cause those cryptos to skyrocket to prices that even make $6,000 Bitcoin look ridiculously cheap. That is when the biggest fortunes will be made. I currently mine alternatives to Bitcoin as Bitcoin itself is expensive to mine paying WNY electricity rates. I do not do it as a serious business - more as a hobby. BUt if the price keeps climbing in Bitcoin, or if I could create a very cheap way to generate electricity, then I would get more serious about it. Once the big banks get their crytpo Exchange Traded Funds launched, especially the leveraged ones, I fully intend to trade them - hopefully for a large profit. But I won't be storing money in there. I will be trading in and out from the long and short side depending on trends - and keeping my investment in US dollars. As an American, you have to trust the US dollar more. Because, if the US dollar goes to hell, the entire country goes with it and chaos will reign. Better to own guns at that point. the one thing about fiat, is that it always seeks it's intrinsic value - essentially zero. some get there quickly such as the German Mark in the Weimar Republic or the Zimbabwean dollar (a 100 billion dollar bank note, lol). some are rather stable and survive a long time such as the USD (though as a history of fiat shows, it has really outlived what is a normal standard). they all have that one thing in common though, they are inflationary, by design and that is why throughout history, they have an inherent limited lifetime. I know that each year my USD buys less and less and my pay doesn't quite rise to meet that offset. i have to scramble more and more to manitain the standard of living i have become accustomed to. that, or i have to cut corners. i dont like cutting corners. the biggest advantage these cryptos have, is that they already exist. hell the CME group just launched BitCoin Futures yesterday. the world runs on derivatives and whether anyone wants to believe it or not, the banksters run the world. they are slowly comin along and getting with the program. XRP, is a bankster coin and has a good chance of being the settlement vehicle for intraday loans. there is no finite amount of XRP. Btc will be the international settlement vehicle. it is the first mover so it is going to realize the highest plateau. also because of the finite supply countries know that it is deflationary and the US cannot simply punch a few keys and bring umpteen trillion into existence like with QE. this guarantees that whatever they hold the value will remain. i agree, you want the USD to remain strong and retain that trust. i do not want to see chaos and i don't want guns everywhere i look. however i do not trust my government or more directly, the banksters. nary a patriot did and that is the main reason for the second amendment. Do you have an infomercial? nope, just a big fan of decentralization. corruption will always exist when anything of value is entrusted into the hands of a few. see, the thing that is lost in all of this crypto talk is that they are just apps upon the real brilliance here. that being the blockchain. the blockchain (Btc blockchain), in all it's myriad of manifestations, is really nothing more than a public ledger (this public ledger is also immutable, that has never existed before). this public ledger exists on all the nodes that run the various blockchains. anyone who runs a core wallet, has a record of every single transaction ever made on it. this is why the talk about, 'if the internet goes down, all your Bitcoin is gone'. that's just not true. all it would take to recreate the blockchain is one users computer with the chain. 'yeah well, if the internet goes down, you can't spend your Bitcoin'. true, but there is a equally good chance that you won't be able to spend your fiat either. all fiat today is digital, nothing but 1's and 0's in a 'private' ledger somewhere. blockchain, though you may not have heard of it, is quickly going to change the way you interact with the world around you. there are so many companies, government agencies exploring ways to utilize it and it's effectiveness that there are simply too many to list. do some research and you will be amazed what is coming. Edited November 1, 2017 by Foxx
BeginnersMind Posted November 2, 2017 Posted November 2, 2017 Did you just advise everyone to go Long on a crypto currency, and at the same time put in not more than a few thousand dollars due to risk? Errrrrm.
phypon Posted November 2, 2017 Posted November 2, 2017 @Foxx - Awesome post and right on! One thing I'm curious about though is it seems we are in a bubble right now. BTC has just been ridiculous over the last couple of weeks with the fork, CME, and yet another upcoming fork. There has to be a major correction coming soon. Do you see the same?
PolishDave Posted November 2, 2017 Posted November 2, 2017 the one thing about fiat, is that it always seeks it's intrinsic value - essentially zero. some get there quickly such as the German Mark in the Weimar Republic or the Zimbabwean dollar (a 100 billion dollar bank note, lol). some are rather stable and survive a long time such as the USD (though as a history of fiat shows, it has really outlived what is a normal standard). they all have that one thing in common though, they are inflationary, by design and that is why throughout history, they have an inherent limited lifetime. I know that each year my USD buys less and less and my pay doesn't quite rise to meet that offset. i have to scramble more and more to manitain the standard of living i have become accustomed to. that, or i have to cut corners. i dont like cutting corners. the biggest advantage these cryptos have, is that they already exist. hell the CME group just launched BitCoin Futures yesterday. the world runs on derivatives and whether anyone wants to believe it or not, the banksters run the world. they are slowly comin along and getting with the program. XRP, is a bankster coin and has a good chance of being the settlement vehicle for intraday loans. there is no finite amount of XRP. Btc will be the international settlement vehicle. it is the first mover so it is going to realize the highest plateau. also because of the finite supply countries know that it is deflationary and the US cannot simply punch a few keys and bring umpteen trillion into existence like with QE. this guarantees that whatever they hold the value will remain. i agree, you want the USD to remain strong and retain that trust. i do not want to see chaos and i don't want guns everywhere i look. however i do not trust my government or more directly, the banksters. nary a patriot did and that is the main reason for the second amendment. Yes the USD is inflationary over time. I don't like that and neither do most people who pay attention to it, but that is the way that modern economies operate for better or for worse. They would rather experience low inflation and the relative economic stability that comes with it than risk deflation which triggers downward economic spirals. And they can only do that if they control the currency to a large extent. This is why they won't ever concede power away from controlling the currency. Although the USD is inflationary, the level of inflation it has experienced has been very low on a year over year basis with small pockets of exceptions to that rule. On a year over year basis the value of the dollar rarely depreciates more than 2 or 3%. And that isn't enough to upset the average American. The average American doesn't have any idea or comprehension of what we are discussing here. Only a much smaller percentage do. If you imagine Joe average out there using cryptos instead of USD- the first time that crypto goes down in value 10% or more overnight because of some international event, that person is going to crap his pants and become extremely disgruntled. The USD, on the other hand, doesn't experience shocks of that magnitude that quickly. It is slow to appreciate or depreciate over the short run. As far as currencies go, it has been the most stable. That is where it's value is. People would rather avoid pain than experience pleasure. That is why for the foreseeable future, the USD will likely remain the world's dominant currency. What do you think is going to happen to Bitcoin if organizations like the European Union or countries like the US or China begin seeing too much money moving out of their currencies into Bitcoin? In my opinion they are either going to outlaw it and/or replace it with their own version of it or come up with some other way to strongly dis-incentivise its use. Which will result in what for that crypto? More instability perhaps. More reason not to use it except as a speculative opportunity to make or lose money. I do think it is still plenty early enough for new people to get in and make huge fortunes with cryptos like Bitcoin and others. No doubt. I just wouldn't plan on one of the speculative - non-regulated cryptos - to supplant the USD or any other major currency anytime soon. Countries won't allow it because they can't afford to allow it. Once a crypto (perhaps Bitcoin) gains enough popularity, each major country will drop the hammer on it like dominoes falling one after another. Call Bitcoin and other cryptos what they really are - HIGHLY speculative risky investments that could make you a lot of money or cause you to lose every dollar you invested.
Foxx Posted November 29, 2017 Author Posted November 29, 2017 (edited) fast forward if you don't want the geek stuff, to about 6:45 does anyone here know what the clip is about? Edited November 29, 2017 by Foxx
4merper4mer Posted November 30, 2017 Posted November 30, 2017 14 hours ago, Foxx said: fast forward if you don't want the geek stuff, to about 6:45 does anyone here know what the clip is about? You do. Because you're a genius. On November 1, 2017 at 6:17 PM, Foxx said: nope, just a big fan of decentralization. corruption will always exist when anything of value is entrusted into the hands of a few. And yet you don't want people having guns. How many bitcoins to buy a rainbow farting unicorn?
Captain_Quint Posted November 30, 2017 Posted November 30, 2017 I thought about bitcoin since last week and have decided to stick with municipal bonds instead. Alot less volatile. Do you municipal bonds?
Recommended Posts