Boris Badenov Posted August 14, 2017 Share Posted August 14, 2017 Some critical thoughts from way back when: http://www.metamute.org/editorial/articles/bitcoin-–-finally-fair-money Link to comment Share on other sites More sharing options...
nuckin_futz Posted August 18, 2017 Share Posted August 18, 2017 Australia to regulate cryptocurrencies The theme of digital currencies in 2018 will be regulation The regulators are coming. I wrote earlier this month that that cyptocurrencies versus the SEC will be the great battle of 2018. But it's not just US regulators that are getting into the mix, regulators elsewhere are as well. Australian Minister of Justice Michael Keenan said Thursday that it will bring Bitcoin and other cryptocurrency providers under the government's financial intelligence unit. He cited money laundering as a key reason for a broader scope of new rules, which will also stop people from paying millions in cash for precious stones or a prime property without having to identify themselves or the source of their funds. Australia had promised to change those rules as early as 2003 but has yet to follow through. http://www.forexlive.com/news/!/australia-to-regulate-cryptocurrencies-20170818 ********************** In the States the SEC has been making moves towards regulation of cryptos as well. https://www.sec.gov/litigation/investreport/34-81207.pdf ******************** IMO there is absolutely no way regulators will leave cryptos alone. ********************************************************************* Someone in 2010 bought 2 pizzas with 10,000 bitcoins — which today would be worth $20 million On May 22, 2010, a developer bought two pizzas using 10,000 units of a then-little-known digital currency called bitcoin. Today, 10,000 bitcoins are worth more than $20 million (£15.4 million). Bitcoin is going nuclear. Its price is tearing upward, with each bitcoin worth $2,128 (£1,638) — a little shy of its all-time-high of $2,185 (£1,682) reached earlier Monday morning. Just a year ago, it was trading at just $443 (£341), after deflating from what was then seen as the giddy highs of about $1,100 (£847) in late 2013. It has since embarked on an epic bull run. "The Japanese have caught the Bitcoin bug and inefficiencies across markets are being exposed," CryptoCompare founder Charles Hayter said in an emailed comment. "Irrational exuberance is taking hold as the Japanese stumble over each other to enter the Bitcoin market and drag up international prices." The digital currency has come a long way since 2010, when the purchase of the two Papa John's pizzas by Laszlo Hanyecz from another bitcoin enthusiast marked what is believed to be the first "real-world" bitcoin transaction. He posted on the Bitcoin Talk forum on May 22, 2010, writing (emphasis ours): "I'll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins where I don't have to order or prepare it myself, kind of like ordering a 'breakfast platter' at a hotel or something, they just bring you something to eat and you're happy! "I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire. "If you're interested please let me know and we can work out a deal." Ten thousand coins were then worth about $40 (£30). A British user agreed to buy the pizza for him, and even at the time the buyer got a good deal out of it: The person paid only $25 (£19) for the two pizzas. The date is a marked on an annual basis by bitcoin users as "Bitcoin Pizza Day." Today, 10,000 bitcoins add up to about $20.5 million (£15.8 million). It wasn't like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool," Hanyecz told The New York Times in 2013. "No one knew it was going to get so big." Laszlo Hanyecz bought these pizzas for 10,000 bitcoins on May 22, 2010. http://uk.businessinsider.com/bitcoin-pizza-day-passes-2000-20-million-2017-5 **************** Correction - As of current prices the pizzas cost approx $41,000,000 USD. The guy doesn't seem all that upset. So I assume 10,000 BTC wasn't his entire stash. Link to comment Share on other sites More sharing options...
GLASSJAW Posted August 30, 2017 Share Posted August 30, 2017 ether inching towards new all-time high Link to comment Share on other sites More sharing options...
drummer4now Posted August 30, 2017 Share Posted August 30, 2017 (edited) 12 minutes ago, GLASSJAW said: ether inching towards new all-time high Even though this is none of my business, but have you profited from your Bitcoin/other cryptocurrency? I really wish I got into in 2011/2012 when I first heard about it, the price was like 50 cents for one bitcoin... Edited August 30, 2017 by drummer4now Link to comment Share on other sites More sharing options...
GLASSJAW Posted August 30, 2017 Share Posted August 30, 2017 (edited) 1 hour ago, drummer4now said: Even though this is none of my business, but have you profited from your Bitcoin/other cryptocurrency? I really wish I got into in 2011/2012 when I first heard about it, the price was like 50 cents for one bitcoin... The market is EXTREMELY volatile. So even if you bought Bitcoin right now at $5700 or whatever it is, there's a decent chance it will be worth $3500 in November if some crash or technological drama happens. This happens semi-regularly. Just happened in August, in fact. But guess what? It always comes back. IT ALLLLLLLWAAAAAAYS comes back. Just hit a new all-time high last week! So unless you bought within the last week, everyone has made profit I strongly suggest you go to youtube and watch talks by a man named Andreas Antonopolous, he understands Bitcoin as well as anyone, and he's a fantastic speaker. Makes the tech relatively easy to understand. The gist is that the "blockchain" system that these coins created/run on is probably the greatest technological creation since the internet itself. John McAfee, who is admittedly a bit of a walking meme and might actually be unstable, says the blockchain is the greatest creation since agriculture, so, choose your hyperbole. Personally, I have become obsessed with this stuff, and the more I learn the more I'm in total awe of what people are out there doing. I believe in the tech 100%, but I do not necessarily believe in Bitcoin 100%. I'm no financial advisor, and I have no idea how much money people are looking to invest. But I would tell ANYONE who can afford it to put $100 into crypto every paycheck. $50 into bitcoin $35 into ethereum $15 into some "other" coin they think has potential. If you can afford more, great. (or switch BTC/ETH around there). You CAN buy a fraction of a coin/token. Just chip away at it. But prepare for an extremely volatile, emotionally grating investment that could bottom out into $0 Anyway, if you're just looking for juicy fantasy land stuff, plenty of speculators and analysts think Bitcoin will go to $10,000 USD within a year (sometime in 2018). Plenty more think it'll be over $100k within a few years. Who knows where it will be in 10, 15, 20 years? Maybe $0, maybe $1 million. Nobody knows, you can literally find the analysis you want to find. You really just need to educate yourself and form your own opinions, and again, the best first step is Andreas Antonopolous Edited August 30, 2017 by GLASSJAW Link to comment Share on other sites More sharing options...
Grapefruits Posted August 31, 2017 Share Posted August 31, 2017 Go Litecoin! 1 Link to comment Share on other sites More sharing options...
nuckin_futz Posted August 31, 2017 Share Posted August 31, 2017 (edited) Any of you got any of this? I can't even type the name of this on this site and it's an actual financial instrument. Crazy times. https://coinmarketcap.com/assets/&^@#token/ What's next "Bitchcoin"? Edited August 31, 2017 by nuckin_futz Link to comment Share on other sites More sharing options...
GLASSJAW Posted September 4, 2017 Share Posted September 4, 2017 (edited) crash happening right now lmao china bans ICOs. this could get ugly (edit: looks like small flash crash, only thing that could be permanently messed is NEO) Edited September 4, 2017 by GLASSJAW Link to comment Share on other sites More sharing options...
drummer4now Posted September 13, 2017 Share Posted September 13, 2017 On 9/4/2017 at 1:52 AM, GLASSJAW said: crash happening right now lmao china bans ICOs. this could get ugly (edit: looks like small flash crash, only thing that could be permanently messed is NEO) Jamie Dimon the CEO of JP Morgan called Bitcoin a fraud and now the price has dropped again. I am hoping it goes down to the $2000 dollar range, then I will consider investing. Link to comment Share on other sites More sharing options...
GLASSJAW Posted September 13, 2017 Share Posted September 13, 2017 14 minutes ago, drummer4now said: Jamie Dimon the CEO of JP Morgan called Bitcoin a fraud and now the price has dropped again. I am hoping it goes down to the $2000 dollar range, then I will consider investing. for the record, China didn't ban ICOs, just some exchanges from selling garbage ICOs. in the end, this is probably a good move for both China and crypto as a whole. jamie dimon saying bitcoin is a fraud is like gene simmons saying hip hop is a trend. everyone in the bitcoin space just laughs at these types of comments. i cannot imagine many people selling because JP Morgan suits say to. HOWEVER, a week or two ago Goldman Sachs predicted a 40-50% fall (after a $500 rise) this before christmas, and then a surge to $10,000 (USD) early-mid next year this is far more relevant IMO. why? because Goldman Sachs has a very good track record in predicting Bitcoin's movements. the question is WHY is Goldman Sachs good at this, despite crypto not moving at a very logical way? a lot of people think they're big buyers/players in the crypto world and they move it to accumulate more for investors, but who knows. 1 Link to comment Share on other sites More sharing options...
GLASSJAW Posted September 13, 2017 Share Posted September 13, 2017 with that said, I hope both bitcoin and ethereum absolutely plummet so i can buy more Link to comment Share on other sites More sharing options...
Lancaster Posted September 13, 2017 Share Posted September 13, 2017 23 minutes ago, GLASSJAW said: for the record, China didn't ban ICOs, just some exchanges from selling garbage ICOs. in the end, this is probably a good move for both China and crypto as a whole. jamie dimon saying bitcoin is a fraud is like gene simmons saying hip hop is a trend. everyone in the bitcoin space just laughs at these types of comments. i cannot imagine many people selling because JP Morgan suits say to. HOWEVER, a week or two ago Goldman Sachs predicted a 40-50% fall (after a $500 rise) this before christmas, and then a surge to $10,000 (USD) early-mid next year this is far more relevant IMO. why? because Goldman Sachs has a very good track record in predicting Bitcoin's movements. the question is WHY is Goldman Sachs good at this, despite crypto not moving at a very logical way? a lot of people think they're big buyers/players in the crypto world and they move it to accumulate more for investors, but who knows. There may be a correlation regarding the flow of money out of China, the government clamping down on them, and the price of bitcoins. Chinese government says rich folks are using bitcoins to hide money and they will track them down. Bitcoin plunges.... the news goes away after a while and price goes back up. I think it has happened a few times already. Link to comment Share on other sites More sharing options...
GLASSJAW Posted September 13, 2017 Share Posted September 13, 2017 4 minutes ago, Lancaster said: There may be a correlation regarding the flow of money out of China, the government clamping down on them, and the price of bitcoins. Chinese government says rich folks are using bitcoins to hide money and they will track them down. Bitcoin plunges.... the news goes away after a while and price goes back up. I think it has happened a few times already. it has happened many, many, many times. and it always shakes off and scares new investors. that's the entire point, unfortunately the Chinese government does not care about rich people using bitcoin. i just don't understand how it could, since Bitcoin is not anonymous in China, and the big players in Bitcoin, like Jihan Wu and his mega-capitalist company Bitman, are EXTREMELY public figures. I'm pretty sure purchasing Bitcoin requires a People's Bank of China account too (i may be mistaken). of course laundering is entirely possible and people are gaming the system, but for the most part, this entire news cycle just reeks of price manipulation Link to comment Share on other sites More sharing options...
GLASSJAW Posted September 13, 2017 Share Posted September 13, 2017 Here's a pretty good article highlighting some issues about China and Bitcoin and how easily they could shut down the entire thing, but simply don't: http://www.zerohedge.com/news/2017-06-15/peoples-bank-china-manipulating-bitcoin-price i also think this highlights one of the fundamental values of Ethereum: proof of stake will allow anyone to "mine" for a profit (1-12%) without using expensive equipment and government-aided dominance like we see with china and bitmain, etc. Link to comment Share on other sites More sharing options...
GLASSJAW Posted September 16, 2017 Share Posted September 16, 2017 Last week: JP Morgan: BITCOIN IS A FRAUD! DON'T BUY A BITCOIN! This week: Link to comment Share on other sites More sharing options...
GLASSJAW Posted October 12, 2017 Share Posted October 12, 2017 bitcoin hits all-time high. currently sitting at $6300-ish CAD Link to comment Share on other sites More sharing options...
Grapefruits Posted October 13, 2017 Share Posted October 13, 2017 16 hours ago, GLASSJAW said: bitcoin hits all-time high. currently sitting at $6300-ish CAD Now almost $6800 CDN. Litecoin trading at almost $75 CDN. GIGGITY! Link to comment Share on other sites More sharing options...
SabreFan1 Posted October 13, 2017 Share Posted October 13, 2017 Rich Russians are buying heavily into cryptocurrency right now. It's one of the few things that many of them can legally invest in because of the international sanctions. It's funny because pre-sanctions, Putin was threatening cryptocurrency's future in Russia. Link to comment Share on other sites More sharing options...
drummer4now Posted October 13, 2017 Share Posted October 13, 2017 On 8/18/2017 at 11:59 AM, nuckin_futz said: Australia to regulate cryptocurrencies The theme of digital currencies in 2018 will be regulation The regulators are coming. I wrote earlier this month that that cyptocurrencies versus the SEC will be the great battle of 2018. But it's not just US regulators that are getting into the mix, regulators elsewhere are as well. Australian Minister of Justice Michael Keenan said Thursday that it will bring Bitcoin and other cryptocurrency providers under the government's financial intelligence unit. He cited money laundering as a key reason for a broader scope of new rules, which will also stop people from paying millions in cash for precious stones or a prime property without having to identify themselves or the source of their funds. Australia had promised to change those rules as early as 2003 but has yet to follow through. http://www.forexlive.com/news/!/australia-to-regulate-cryptocurrencies-20170818 ********************** In the States the SEC has been making moves towards regulation of cryptos as well. https://www.sec.gov/litigation/investreport/34-81207.pdf ******************** IMO there is absolutely no way regulators will leave cryptos alone. ********************************************************************* Someone in 2010 bought 2 pizzas with 10,000 bitcoins — which today would be worth $20 million On May 22, 2010, a developer bought two pizzas using 10,000 units of a then-little-known digital currency called bitcoin. Today, 10,000 bitcoins are worth more than $20 million (£15.4 million). Bitcoin is going nuclear. Its price is tearing upward, with each bitcoin worth $2,128 (£1,638) — a little shy of its all-time-high of $2,185 (£1,682) reached earlier Monday morning. Just a year ago, it was trading at just $443 (£341), after deflating from what was then seen as the giddy highs of about $1,100 (£847) in late 2013. It has since embarked on an epic bull run. "The Japanese have caught the Bitcoin bug and inefficiencies across markets are being exposed," CryptoCompare founder Charles Hayter said in an emailed comment. "Irrational exuberance is taking hold as the Japanese stumble over each other to enter the Bitcoin market and drag up international prices." The digital currency has come a long way since 2010, when the purchase of the two Papa John's pizzas by Laszlo Hanyecz from another bitcoin enthusiast marked what is believed to be the first "real-world" bitcoin transaction. He posted on the Bitcoin Talk forum on May 22, 2010, writing (emphasis ours): "I'll pay 10,000 bitcoins for a couple of pizzas.. like maybe 2 large ones so I have some left over for the next day. I like having left over pizza to nibble on later. You can make the pizza yourself and bring it to my house or order it for me from a delivery place, but what I'm aiming for is getting food delivered in exchange for bitcoins where I don't have to order or prepare it myself, kind of like ordering a 'breakfast platter' at a hotel or something, they just bring you something to eat and you're happy! "I like things like onions, peppers, sausage, mushrooms, tomatoes, pepperoni, etc.. just standard stuff no weird fish topping or anything like that. I also like regular cheese pizzas which may be cheaper to prepare or otherwise acquire. "If you're interested please let me know and we can work out a deal." Ten thousand coins were then worth about $40 (£30). A British user agreed to buy the pizza for him, and even at the time the buyer got a good deal out of it: The person paid only $25 (£19) for the two pizzas. The date is a marked on an annual basis by bitcoin users as "Bitcoin Pizza Day." Today, 10,000 bitcoins add up to about $20.5 million (£15.8 million). It wasn't like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool," Hanyecz told The New York Times in 2013. "No one knew it was going to get so big." Laszlo Hanyecz bought these pizzas for 10,000 bitcoins on May 22, 2010. http://uk.businessinsider.com/bitcoin-pizza-day-passes-2000-20-million-2017-5 **************** Correction - As of current prices the pizzas cost approx $41,000,000 USD. The guy doesn't seem all that upset. So I assume 10,000 BTC wasn't his entire stash. Link to comment Share on other sites More sharing options...
GLASSJAW Posted October 13, 2017 Share Posted October 13, 2017 21 hours ago, Grapefruits said: Now almost $6800 CDN. Litecoin trading at almost $75 CDN. GIGGITY! havent bought any LTC for a while, doubt i will any time soon. i do have some VTC though (curious about the atomic swap stuff, and i admit i'm sorta hoping it feeds off their LTC connection) looks like ETH is testing a serious run right now. i shorted my BTC last night and i have serious anxiety over it - tempted to put the money in ETH and hope it goes up with the Metropolis release -- but if it goes down, then i stand to lose an awful lot. think i'll just wait for BTC to cool down more and re-buy in hopefully at a significant gain Link to comment Share on other sites More sharing options...
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