#16
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This is a pretty interesting article on it.
http://www.ibtimes.com/how-bitcoin-h...scheme-2627403 The real innovation here is blockchain, which stands to transform all manner of transactions into a de-centralized, transparent ledger model which isn't controlled by any one entity. It makes a currency or any other digital asset nearly impossible to hack, or rather it keeps any potential hack from being remotely useful, or worth the time to execute since there is no single point of failure. The ledgers are copied and updated across thousands of instances. Well worth reading up on it, it will permeate many of our transactions in the future. One of the most important technologies to arrive in years. https://blockgeeks.com/guides/what-i...in-technology/ Here's a TED talk on it. Worth listening to. https://www.youtube.com/watch?v=RplnSVTzvnU |
#17
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Last week, when Bloomberg radio discussed the new trading markets for crypto currencies , they compared it to the futures market.
Futures are a way to speculate on the price of something tomorrow or next week or next year. You bet on the rise or fall and make your money accordingly. My personal feeling is that there is something very wrong about making money on falling value. I can't say better than that, and maybe I'm lacking some critical information on the matter that would alter my feelings. For now, I'm sticking with my original opinion (back a few posts) that this is a bunch of smoke and mirrors stuff. IF I were in possession of any crypto-currency at this moment in time, I think I would try to convert it to cash asap and count myself lucky in time.
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amyFb Huss & Dalton CM McKnight MacNaught Breedlove Custom 000 Albert & Mueller S Martin LXE Voyage-Air VM04 Eastman AR605CE |
#18
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That being said, I made a $200 bet, buying a fraction of a Bitcoin. But I don't consider it an investment, or even a speculation. For it to be an investment or speculation, I would have to have some idea (or at least a theory) about what types of information or business climates caused price movements); with Bitcoin, I don't have any idea why it's price is changing, let alone why it changes as much as it does. My Bitcoin bet is more like the way I felt when I went to Vegas in my youth: I was interested in hitting a jackpot, but I gave myself a $50 loss limit. I never hit a meaningful jackpot, and most of the time, I'd get bored before I lost the $50. And one time, I caught myself taking stupid risks, almost acting as if I HAD to lose the $50 before I could stop playing. I haven't been gambling since then...until I bought my fraction of a Bitcoin a few weeks ago. We will see what happens; if nothing else, I am having all the "fun" of a Vegas weekend without getting on a plane (just need to find a good buffet somewhere). If one wants to actually "invest" in the promise of blockchain technology, it makes more sense to invest in large companies that are spending money on exploring and/or developing the technology and its implications. |
#19
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Not to be mean, but the people in this thread calling it a fraud or Ponzi scheme I'm betting have no real clue what crypocurrencies are in reality.
I'm 99% confident that in a few years everyone responding in this thread will be using blockchain in some form or another. These currencies will have intrinsic value at some time. Yes, they're in a bubble now, but don't dismiss them entirely.
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#20
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Andrew Lett, the famous or infamous short seller from Citron Research was on CNBC last week and made a very interesting point. He predicted what would ultimately kill Bitcoin was "What if I could own 4,000 shares of Apple using block chain technology. Why do I need Bitcoin?" It's only a hypothetical at this point, but never the less, the idea is quite sound. If I can own tangible assets that trade in a regulated marketplace based on solid fundamentals using the de-centralized technology of block chain, who needs Bitcoin? Unless you are an arms dealer, ransom hacker, drug dealer or North Korea.
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Rip VanWinkle..... Some Martins, OO-18CS, 00-28 CS, 000-28 EC, 0000-28H LSH CS, D-18 CS, D-14 CS VTS Spruce over Morado, OM CS VTS Adi over Guatemalen, D-35 CS Some Gibson's, Keb Mo 00, J-35 Collectors Edition, 12-Fret AJ, Some Taylors, 612-CE 12 Fret, Custom 12-Fret Walnut, 814CE, Custom 2015 Engleman over Ovangkol GA,752ce LTD 12x12 Rainsong C1100-NS, Recording King RP 626 Schoenberg |
#21
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...........
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Unimogbert Last edited by unimogbert; 03-07-2023 at 09:28 PM. |
#22
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Crypto Currencies
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Well if it looks like a duck and walks like a duck... I rather invest in something more liquid and predictable like real estate. But then again, that’s something I know. I admit to be somewhat ignorant about crypto currencies but from what I’ve seen, I’m a few years too late. It looks way too much like a bubble right now. |
#23
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Guild CO-2 Guild JF30-12 Guild D55 Goodall Grand Concert Cutaway Walnut/Italian Spruce Santa Cruz Brazilian VJ Taylor 8 String Baritone Blueberry - Grand Concert Magnum Opus J450 Eastman AJ815 Parker PA-24 Babicz Jumbo Identity Walden G730 Silvercreek T170 Charvell 150 SC Takimine G406s |
#24
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#25
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The value in crypto currencies is that right now there is no regulatory entity other than the blockchain technology used to mine the coins. That's where it's value is in my opinion.
...With crypto currencies this will be a bit harder to do since mining a coin will depend on how long it takes to solve whatever algorithm is used to mine the coins. Last edited by Kerbie; 12-15-2017 at 09:40 PM. Reason: Removed politics |
#26
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Real estate market is pretty stable. Near at peak but stable nonetheless. 2008 won’t happen again, there’s many safeguards in place now to avoid what happened. And even if it crashes, you can see it coming (if you know where/how to look) and adjust your investing strategy. Many smart investors kept making money when it crashed. |
#27
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And real estate is, well, you know.
REAL. |
#28
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I and a buddy recently invested in a couple different crypto currencies. Super volatile market. He doubled the money in less than a week and sold but it could go either way. Later during the day he sold, it dropped 18%. It's a gamble.
Apparently for around 5000 USD you can buy a machine and power it for 1 year that is specifically designed to mine bitcoins. It should create 1 coin in the 1st year (value last I checked was ~17k USD). Again, it's a gamble.
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SoundCloud Last edited by H2O; 12-14-2017 at 08:48 AM. |
#29
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Reminds me of the things I learned in school about the California Gold Rush of 1849: Many thousands of people came to the state hoping to strike gold and be rich....and a few did. But many more got rich by selling stuff to the miners, like Levi's and gold pans and pack mules and hydraulic pumps, etc. etc. |
#30
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Crypto currency is real. It is a representation of value. It simply uses a mechanism other than an intermediary like a bank or nation-state to transfer the value.
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