degenerasian wrote:Bitcoin is crazy, back under $10,000
Litecoin might be the safer play. it's like silver to Bitcoin's gold. It's at $88. Maybe it'll be the next to explode.
In 9 days Litecoin is now $150
Litecoin now $325.
I bought some Ethereum (another alt-coin) the other day, and it's also been on fire. I guess a number of people who are bullish on crypto think that some of the bitcoin competitors might ultimately win in the long run. For now at least, those alternatives are seeing big gains without it coming at the expense of bitcoin's price. Not sure how long that's sustainable.
degenerasian wrote:Bitcoin is crazy, back under $10,000
Litecoin might be the safer play. it's like silver to Bitcoin's gold. It's at $88. Maybe it'll be the next to explode.
In 9 days Litecoin is now $150
Litecoin now $325.
I bought some Ethereum (another alt-coin) the other day, and it's also been on fire. I guess a number of people who are bullish on crypto think that some of the bitcoin competitors might ultimately win in the long run. For now at least, those alternatives are seeing big gains without it coming at the expense of bitcoin's price. Not sure how long that's sustainable.
ICO's are a scam. Do not engage at all. Run away screaming at the top of your lungs if anyone you like/respect/have any sympathy for thinks about investing in one.
Initial Coin Offering is a way to raise money using a lot of buzzwords to essentially donate to someone's venture, because what they are giving you back is essentially worthless, the guy selling Chucky Cheese coins (funny, but fake story, google it.) gave you something worth more than what any ICO will give you.
News update for those mildly interested. Coinbase just recently posted that they would never accept BCH or Bitcoin Cash. then, a bunch of insiders bought a bunch of it, and now they suddenly do trade in BCH. They baldfaced insider traded their own customers. so, beware if you have any BTC with them.
blundercrush wrote:ICO's are a scam. Do not engage at all. Run away screaming at the top of your lungs if anyone you like/respect/have any sympathy for thinks about investing in one.
Initial Coin Offering is a way to raise money using a lot of buzzwords to essentially donate to someone's venture, because what they are giving you back is essentially worthless, the guy selling Chucky Cheese coins (funny, but fake story, google it.) gave you something worth more than what any ICO will give you.
News update for those mildly interested. Coinbase just recently posted that they would never accept BCH or Bitcoin Cash. then, a bunch of insiders bought a bunch of it, and now they suddenly do trade in BCH. They baldfaced insider traded their own customers. so, beware if you have any BTC with them.
Not all ICO's are a scam. It is just hard to know which are and which are not. When the ICO is a true security (Howie Rule) and the organization behind the ICO is legit, there is a case to be made for reducing the burden of fund raising. That being said, how to tell if the ICO is a security or token is tought and most people who do ICOs are trying to avoid regulation by going the Token route. However, I have seen some interesting scenarios where the ICO is being used to raise money for legit interesting companies.
And it seems to have backing from banks and such. Is this stuff worth buying into? Throwing a few hundred dollars at it doesn't seem like a bad idea. I've spent money on dumber things.
mister d wrote:Couldn't have pegged me better.
EnochRoot wrote:I mean, whatever. Johnnie's all hot cuz I ride him.
And it seems to have backing from banks and such. Is this stuff worth buying into? Throwing a few hundred dollars at it doesn't seem like a bad idea. I've spent money on dumber things.
I talked to Ripple awhile back about going to work for them. In retrospect, I'm glad it didn't work out because it would have driven me nuts.
Bitcoin is losing its luster with some of its earliest and most avid fans — criminals — giving rise to a new breed of virtual currency...
The European Union’s law enforcement agency, Europol, raised alarms three months ago, writing in a report that “other cryptocurrencies such as monero, ethereum and Zcash are gaining popularity within the digital underground.” Online extortionists, who use ransomware to lock victims’ computers until they fork over a payment, have begun demanding those currencies instead. On Dec. 18, hackers attacked up to 190,000 WordPress sites per hour to get them to produce monero, according to security company Wordfence.
For ransomware attacks, monero is now “one of the favorites, if not the favorite,” Matt Suiche, founder of Dubai security firm Comae Technologies, said in a phone interview.
Jesus, that site is tracking the value of 1,385 different cryptocurrencies! I had no idea there were nearly that many. Who is accepting those currencies as payment? And who is putting their faith in something called FlappyCoin maintaining viability as a currency?
An honest to God cult of personality - formed around a failed steak salesman.
-Pruitt
No idea. But it's fascinating to track. This shit is more "unregulated stock market casino fun times" than something more concrete. I asked my economist friend who studies this stuff and she said once it becomes regulated, invest. Until then act like you can afford to lose money like you would at a casino.
But, I mean, once I see banks getting in on it, that tells me I shouldn't sit on my ass. Even though every time I look into buying some of it, it looks like a pain to purchase.
mister d wrote:Couldn't have pegged me better.
EnochRoot wrote:I mean, whatever. Johnnie's all hot cuz I ride him.
Bitcoin is losing its luster with some of its earliest and most avid fans — criminals — giving rise to a new breed of virtual currency...
The European Union’s law enforcement agency, Europol, raised alarms three months ago, writing in a report that “other cryptocurrencies such as monero, ethereum and Zcash are gaining popularity within the digital underground.” Online extortionists, who use ransomware to lock victims’ computers until they fork over a payment, have begun demanding those currencies instead. On Dec. 18, hackers attacked up to 190,000 WordPress sites per hour to get them to produce monero, according to security company Wordfence.
For ransomware attacks, monero is now “one of the favorites, if not the favorite,” Matt Suiche, founder of Dubai security firm Comae Technologies, said in a phone interview.
The price of ethereum has gone up almost 90% since I bought some a few weeks ago, so thank you, European criminal underground?
I bought it through Coinbase’s iPhone app. Coinbase allows for fast and easy purchases, but the transaction fees are pretty high. I know there are other exchanges which may have lower fees.
Man, I wish I took the extra 20 minutes in 2013 to figure out how to buy it then. I was just scared off because it wasn't backed by anything and you couldn't buy anything with it at the time.
Also, you can buy Bitcoin, Bitcoin Cash, Litecoin, and Ethereum in your PayPal app now. So that's neat.
mister d wrote:Couldn't have pegged me better.
EnochRoot wrote:I mean, whatever. Johnnie's all hot cuz I ride him.
One of the reasons I never considered investing it cryptocurrency, fear of losing a hard drive or forgetting a password. Several years ago a friend was telling me he had $20,000 (at the time) worth of Bitcoin on a hard drive that was corrupted. He was looking for someone to recover the digital wallet or whatever the fuck you need to access the currency. That's what throws me, keeping your wealth in computer code, just seems so easy to vanish. I know my money in the bank and typical investments isn't exactly tangible, but at least its kept in highly regulated institutions and with banks, guaranteed by the federal government with FDIC.
An honest to God cult of personality - formed around a failed steak salesman.
-Pruitt
