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CRYPTOCURRENCY

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Can we keep all the sensible crypto ans drug chat in here.

Multiple lawsuits incoming from the other deleted thread

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"So, we could be watching one of the biggest financial bubbles in history unfold with this cryptocurrency mania. Yet on the other side of the coin, there is also the non-trivial possibility that we are witnessing something remarkable happening before our very eyes — the return of the separation of cash and state.

People are hungry to be a part of the world of finance. What was once the private playground of the rich and powerful, the middlemen and brokers, institutions and corporations — the world of investing and financial exchange — have been eclipsed by thousands of common people empowered by the free and open nature of blockchain-based finance. The people that can’t afford the buy-in to the current system, ones who do not pass the vetting of its gatekeepers and are left with nowhere to go. They see Bitcoin and cryptocurrencies as a permissionless option to participate in the global financial economy and a way out of their own rat races. They invest hard earned money, a few bucks here and there, hoping to make honest gains on their own, even risking losses, instead of being at the mercy of consumerism and inflation.

And it works. Young men and women from all walks of life, from the Philippines to Kazakhstan, they’re learning about Blockchain tech and Crypto trading, putting in the time and effort, finding jobs in the industry, making money, and then teaching or inspiring others to do so too.

Children born from 2009 onward are going to live in a world where digital cryptocurrencies always existed and are the norm instead of a fad. They will never understand the need to wait “3 to 5 business days” for money to be transferred, to wait in line at a bank, to pay 10% to send money. It’s easy to think that this is wishful thinking, but remember, lot of people called the internet a fad too. Now we no longer go online, we live online.

Technologies of tomorrow like robotics, Artificial intelligence, autonomous machines, and the Internet of Things will not use credit cards, a technology never intended for an online network, but will use blockchains and cryptocurrencies, with Bitcoin as the global reserve. This is almost a certainty.

Will crypto markets crash in between? Most likely. In the same way the dotcom bubble burned over six trillion dollars back in 2000, Bitcoin and cryptocurrencies will probably go through the same cycles. Bubbles establish the true players in the market and eliminate all the ones who are there for a quick buck. What’s important is that the technology is real, and it is here to stay."

Don’t fall for the hype — Why Bitcoin’s $10,000 Price Doesn’t Reflect Its True Value. - decentralize.today/don...

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Wow I just read over that article again and there is so much wrong with it it's hard to know where to begin. In fact the whole thing stinks of sour grapes. I am really surprised the Guardian published this without any fact checking.

As lol a place as anywhere is in the middle where the author has utter ignorance to whip out the bullet points.

'Let’s get this straight: in order for bitcoin to be a real currency, it needs several things:

- Easy and frictionless trading between people.
Around a 1,000,000 BTC ($15billion) traded every 24hrs globally. About 4% of total supply. Could 4% of $USD or any other currency be traded DAILY with a fraction of Bitcoins ease, not a chance in hell. Bitcoins market cap now makes it the 6th largest global currency, out ranking Pound, Ruble and Won and it's very close surpassing the Rupee - this is not monopoly money - where's the beef?

- To be widely accepted as legal tender for all debts, public and private.
Bitcoin liquidity = Bitcoin fungibility, try paying your car tax in Polish Zolty.. Bitcoin can be converted to a national currency in 1hr max (localbitcoins/coinbase/kraken/ethos/atm's etc etc- most of which employ fairly robust KYC rules) It usually takes me 15mins to cash in BTC for an instant bank transfer.

- A stable value that does not fluctuate (otherwise it’s impossible to set prices).
With Bitcoin futures trading successfully CME Cobe and an ETF sure to follow in 2018 once the SEC pulls it's thumb out of it's ass, or rather they are resisting a sole BTC ETF until the fed and other central banks have their own digital $, Euro, Yen etc to launch at the same time... Pure digital fiat (another discussion) but since the futures markets have bedded in BTC, given it's 5 figure value, has been remarkably stable. I can't be assed with the maths, but just looking at the past 2 weeks charts in terms of volitility - especially right now - it actually looks more stable than the USD!

Bitcoin has none of these things, and even safely storing it is difficult.'

WRONG X 3, Bitcoin has all of these.

And regarding safely storing it - if you can't store it safely your a complete spa. In fact it is the most easy thing in the world to store. You lose your everyday wallet, 95% of the time it's gone. You could, if inclined, make 1000's of bitcoin wallets across virtually any digital platform and tattoo your private keys in UV ink on your head, or if really paranoid you could tattoo you private keys in UV across your gooch. Extreme, but safe.

Article goes on to mention the 2011 MtGox and 2016 Bitfinex 'hack' as well as 'others' - these 2 examples are widely acknowledged as inside jobs (and Bitfinex did refund it's customers, albiet in a shady auld way with the creation of tether - refunded though).

Would the 2008 banking collapse that plunged everyone in the UK into £36,000 worth of debt be considered a 'hack' or an inside job, or an inevitable consequence of human greed and malpractice in a system where we (continue) to trust the wolves to look after our collective chickens. Humans lie, manipulate, disguise, fuck up, embezzle, panic, can found in the toliet cubicles pulling the bars of themselves when non-farming payroll results are announced.

Cryptography doesn't lie. It doesn't ask for trust, it doesn't need trust. Doesn't pull the bar of itself. People can lie about what the numbers are, but a bitcoin is a bitcoin is a bitcoin - not somthing that can be printed, dilluted, manipulated, counterfieted. It's just numbers (and ultimatly boring as fuck - however what isn't boring is that these numbers can be used to procure a lithuainian passport, a glock and a sack of crack - although the ultimate irony is the blockchain never forgets and once a few addresses get snared it doesn't take too many super computers to join the dots...)

It's easy to look at the price and say thats fucking ridiculous, latest iteration of hot money. Part of me thinks that, I was posting on here - or rather thon shine board - about bitcoin when it was $11. When it was $200 I collected a right few and when the fucking Sacramento Kangs beat the Trailblazers by TWO FUCKING POINTS to screw me out of 30BTC or 5 FUCKING LAMBO'S.

Ahh fuck, who am I even trying to convince. End of the day the market is always right. I wanted to cover more about this really, really intresting new blockchain that comes with it's own hardware and knocks out millions of transactions a second. High Performance Blockchain, aparently the name loses a lot in translation from Chinese. And while the Chinese can be shillpery enough on it they sure as fuck know their digits. I was watching a show on BBC news about S.Korean kids, most do double school! On to 8am to 10pm. Madness. But they are the ones pushing this - take a look at the roster of speakers for Blockchain Connect Conference 26th of Jan -
www.eventbrite.com/e/b...

This is the big conference of the year they even have Lucas Lu Founder/CEO of Cybermilles, hard to beat a good cybermille. Ok I become retard now.

Serious check out the youtube link about High Performance Blockchain and it's massive scope, I've bucked a few hunner into it an will be putting 0.05BTC in if Slushpool would ever sort it out and start finding a few more blocks.

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Spoke to my FA there who advised me to burn a grand. WTF liek? I wish he had the feels for crypto.

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When is this crap going to end? Miners ruining the prices of graphics cards, using 1080tis now

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There's gonna be a fuck load of chep cards flooding the market when this nonsense tanks.

I wonder what the cost to the environment will be after 2000 different crypto coins have been mined and the value of them reduced to zero?

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a fuck load of used cards that have been run 24/7 :( for months

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I'll buy any half decent cards you've knocking about. 1080's spitting out a £5r a day

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Start to look very familiar - eveblank.files.wordpre...

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this is where it gets interesting. the chat is that the chinese new year is coming up and cash out is in vogue as people look to get actual money to buy stuff for friends and family.

I suppose Takki will be buying the dip here - what you going in on?

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Very quiet in here today....

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It's the blind belief from people that is won't bust who weren't making a living in the financial game or market world I find mad.

Was there big losses at the weekend on the crypos? Da was saying some fellas he knew lost thousands.

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Im not sure about Chinese NY RP, its not until mid Feb. Reckon its more to do with S Korea news, wasnt that the second biggest trading hub for cryptos after Japan? www.cnbc.com/2018/01/1...

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yeah but they also say that was well known and already priced in, this is a new dip

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not blowing the crypto trumpet by the way.

the article linked calling it a bubble and then taki's cut and paste response above are both equally without much critical thought. both clearly unbalanced analysis. but that's the way so much of it seems right now, noise, bulls and bears.

would rather read about the tech rather than the crypto price

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daire, you could also post this image - cdn-images-1.medium.co....

I dont think I'll be buying anymore as I'm happy with what I've got. I may move some of what I've got about, though. But who knows what will happen after this dip/drop.

Apparently there's been a lot of withdrawals in India for some reason. Who knows though.

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RP, the article I linked above talks about both sides of the crypto 'revolution', not just the positives or negatives solely. I've said loads of times I dont know whats going to happen and if people get into it, they should know the risks. I do think blockchain will be massive in the future and I think because of how massive it will be, there will be money to be made in the 'crypto' side of it, but I'm cautious either way.

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Tough day for the alts. I've lost a clean fortune this past week. Should've cashed out but greed got the better of me. Still up 700% but could've had all my debts paid and a new car.

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ouch, why didnt youse all cash out when it was at a high?

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Pure greed, RJ. In fairness I'm still up and I've learned a fuck ton, so I can't complain. Only myself to blame.

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All that chat about the children of tomorrow Takki. The wee man taking on the big bad financial whales. It's just nonsense.

The truth is the original ideas lent itself to such libertarian ideals and that interested me a lot as I think our current monetary system is unsustainable and will lead us to runaway climate change eventually. So I liked it.

But it's been a while and since the big money has started looking at this it's been co opted. It's not even close to being a threat to fiat in my view

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That's just it though, it's one person's view against another. No one knows what's going to happen with this. Anyone that says they know, or acts like they know, is full of it.

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Bloodbath! Got rid of some coinage at recent highs, hoping there will be some more and this isn't cryptogeddon.

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At least ferg understands how a ponzi scheme works. Get in early, talk it up, sell to next down the chain, count your profits. Impressive :)

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What did the Winklevoss fellas cash out at? 19k per BTC?

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No flies on the Winklevoss twins.

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"Try reading a book on disc. At best, it's an unpleasant chore: the myopic glow of a clunky computer replaces the friendly pages of a book. And you can't tote that laptop to the beach. Yet Nicholas Negroponte, director of the MIT Media Lab, predicts that we'll soon buy books and newspapers straight over the Internet. Uh, sure.

Then there's cyberbusiness. We're promised instant catalog shopping—just point and click for great deals. We'll order airline tickets over the network, make restaurant reservations and negotiate sales contracts. Stores will become obsolete. So how come my local mall does more business in an afternoon than the entire Internet handles in a month? Even if there were a trustworthy way to send money over the Internet—which there isn't—the network is missing a most essential ingredient of capitalism: salespeople."

1995

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My ponzi victims have made money too tho daire (apart from one who will remain nameless). Guilt free ponzziing

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lol

Honestly, this sort of dip happens every single year around this time. You get used to it when you've been trading cryptocurrency for 30 years like I have. This is nothing compared to when Yugoslavia tried to ban Bitcoin.

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i.redd.it/fvh3ibzxz8kz...

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Litecoin went up 5800% in 2017 - dropping 20% in a day is nothing to be alarmed at. I would be sort of worried if BTC dropped below $7500, but not so much. I'm about 45/48 days of ROI'ing of my ASICS (actually putting a S9 on gumtree tonight, genuinely want to sell to buy a 924 and maybe make movements towards a place in the cathedral quater). But I'll be happy when I can just build my portfolio and flip the ASICS and move onto a new thing altogether. I have absorbed too much crypto for one man.

Ahh ferg you may regret dumping your LTC - did you hear the live phone calls with Amazon customer services?

I'll bet someone £10 evens that the market is above $640B this time 10days???

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Where's doombadger? I think he may have topped himself.

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Shit posted before I refreshed. Good to see your alive big man.

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lol, no no, long way from el ropo! I've every belief it will bounce back, however, if it does crash and burn then that is probably great. Because I have been growing fat of this crypto craic for far to long and, yes it's interesting and going to change the world blah, blah, but I feel like I've just been cake into since June - bitcake And could probably use a new job! Win, Win! :)

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Bitconnect closed

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That'l do it. Also ' Grand Mufti Shawki Allam, declared Bitcoin unlawful according to Sharia law' uhohfucking stupid law

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You must've taken some hit on thon mining rig if you're going to flog it so soon, DB. No way you've made back what it cost you in that period of time surely?

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Think the noise of them has broke him down.

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probably pissed aff running around in his kacks all day in the house with sweaty ballicks due to the heat

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I only sold a few neddy boi ;)

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Haha RJ

Sleeping in his lambo after he missed paying the rent

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wee nephew is clean raging thinking about all the bitcoins he blew years ago when they where just new buying shite of the dark web, even i believe mined a few.. reckons he blew over 30-40k's worth at its peak value

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Lol the noise seriously nearly has broke me but I've managed to split them up between a few locations. I built enclosures for the 2 I have in my place and they are barely audible and I havn't had any need to put on the heat on all winter!

RE ROI to be completely fair the miners where already ROI'd before I bought them as I pumped all my savings into BTC over June/July to make gains on the Bitcoin Cash fork and buy IOTA Verge an a few others

I bought the 4 miners direct from Bitmain in October for Late November, late December and early Jan delivery. So they have been running a good bit now. Mining is a lot more insulated from both the up's and the downs than raw coin on the exchange - I currently have 27T/H of SHA256 and 1100G/H (over clocking in winter is no probs) of Scrypt. I should be mining 3 or 4 different algorythms rather than 2 but bloody gamers have ramped up the price of graphics cards.

The most accurate calculator is whattomine.org I think Bitcoin has to drop below $800 before it becomes unprofitable. Although the difficulty spikes in bitcoin lately have been disgusting - and a major factor for the increased difficulty is delayed reaction to market price.

Reason for selling is I really, really want this car and I'm not selling any actual crypto in this market.
www.ebay.co.uk/itm/197...

£120 a year insurance and 27MPG. I just think my life would be so much better with a 924 or 924S in it!

oi63.tinypic.com/2lbjd...
oi63.tinypic.com/mij33...

Do people realise just how much Bitcoin went up since June 2017.... An it's not like I'm after timing, I did revive the originial thread on here in the summer with the 1st post in a long time regarding buying IOTA.

I feel a little sorry for those who bought in at $18-19,500. But you on't buy at all time high's! If you thought you had missed the boat on crypto - now is a really good time to consider getting involved in my opinion.

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I'm not washing a Porsche m8. Not in the original job description

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assets.bwbx.io/images/...

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ETH: -39.3% from the high
BTC: -48.5% from the high
LTC: -58.7% from the high
XRP: -73.77% from the high

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Wasn't the dot.com bubble FAR bigger than the Bitcoin rise/bubble/whatever it is?

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DB has a point, a log chart of BTC history makes this dip look like a blip

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Nowhere near it. Dotcom is the green on that chart

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Is that chart a bit sneaky/unbalanced in how it's made up. The NASDAQ chart is all the various things on the exchange rolled in to one, surely? It's also based off a fucking massive starting value, so the huge dot.com bubble will be tiny in amongst the grand scheme of the whole exchange, hence the little difference on the graph.

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I mean there's no doubt that the rise of cryptos was over inflated in recent times, especially due to the mooners and lambo heads putting in their piggy banks to become millionaires. That's not to say it's a dead duck either tbf. Plenty of new people investing in it for the longer term, also.

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