Bitcoins

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With the many problems banks and central banks have caused over the y eas I think bitcoin is looking better all the time. At least bitcoin is not just created magically with nothing to back it.

The price of bitcoin went way up last year and crashed but since its creation in 2011 its steadily risen. I don't see why it would fall in the future. Of course no one can predict the future, but it seems like , as you say Trotsky, its a hedge against human bungling and greed in the global financial scamworld of banks

bitcoin is not just created magically with nothing to back it

yes it is

what about the hash!

can I eat hash

The price of bitcoin went way up last year and crashed but since its creation in 2011 its steadily risen. I don't see why it would fall in the future.

hard to know you've reached the bottom of a crash. depending on when you thought the 2000 telecom crash hit bottom, you could be red for a long time, even with a steady rise.

you can eat it , smoke it, and verify worth with it

the central banks are regulated by stodgy politically motivated reptilians - I'd rather rely on a mathematical function

plus newegg.com takes bitcoins

hard to know you've reached the bottom of a crash. depending on when you thought the 2000 telecom crash hit bottom, you could be red for a long time, even with a steady rise.

so hedge with ethereum investment?

hedge with a storage space full of funko pops

hedging a blockchain investment with another blockchain investment? LOL

but be careful -- diversify your funko pop category portfolio. it's a jungle out there.

xp tbf he could hedge btc with btc...futures. now we're making money.

it seems like if you had something like blockchain wallet and coudl exchange bitcoin and ethereum with minimal fees you could play them off each other like north lorea plays the US off china

so how do you buy derivatives or something where you make money when bitcoin falls in value - God the world of finance is so freaking convoluted

there's a site that lets you do just that but you can't use it in America

forget it ! Its bitcointown!

here you go my friend https://www.bitmex.com/

Bitcoin is virtually useless as a currency but as a commodity you can gamble on it's pretty good

The CFO said Goldman is working on a type of derivative for bitcoin because "clients want it."

https://www.cnbc.com/2018/09/06/goldman-sachs-cfo-calls-reports-of-shutting-down-crypto-desk-fake-news.html

"A trader wants to goes long 10 XBT of TRON futures contracts, which trades at 0.0200 XBT. As the leverage is 20x, the trader only needs 0.5 XBT of margin for this trade."

now we are getting in too deep

you can do 100x leverage. shoot for the moon. even if you fail, you'll still land among the stars

McAfee

The first Bitcoin forecast that I want to discuss with you is by John McAfee, the creator of the popular anti-virus software McAfee. McAfee is well-known in the cryptocurrency industry because he makes lots of insane price predictions on Twitter, however, it has since been revealed that crypto projects pay him more than $100,000 to do so.
Anyway, in 2017, MacAfee said that Bitcoin would reach $500,000 in 2020, and if it didn’t, he would eat his private parts live on TV! If you didn’t think this was crazy enough, McAfee then increased his Bitcoin price prediction 2020 to $1 million! To be honest, he seems rather confident to me.

https://www.bitdegree.org/tutorials/bitcoin-price-prediction-2020/#Bitcoin_Price_Prediction_2020

I went to my local coffee shop and the barista didn't talk to me about it. The delivery guy as well, not a word, zip.

Even in my local bar, I must have overheard 3 or 4 conversations, every one literally the same, not a mention of bitcoin. Even the bartender was at it, ethereum, ethereum, ethereum, literally absent from every sentence

is it.....time to go all in?

Incidentally just came across this on my lunch break pic.twitter.com/w2NuIbhs0h

— Bryan Ma (@bryanbma) October 15, 2018

A couple years back I used to work at a BTC-related startup, which was hell, but I met some cool folks there. I've now reunited with the good people at another startup in more or less the same sector. It may drive me insane in a year or two but in the meantime, I gotta eat.

no shame. got those bits yo

Simon HODL

It is interesting, when you're in the space, to observe the interaction between true believers and cautious employees/careerists. I'm beginning to realize the latter group dwarfs the former at this point in time.

this could probably lead to a wolf of mt gox book deal someday. Take notes!

joeks but hoping this all goes well for you

I feel like the popular fervor has died down now but I kind of expect there to be another wave next financial crisis. It will play the role gold did last time.

this could probably lead to a wolf of mt gox book deal someday. Take notes!

I literally said "love to do crimes on day one" aloud to a co-worker after a client asked us to perform an ethically dubious task lol

The next financial crisis will be huge for crypto for sure.

feds are better at controlling currency than algorithms and they don't waste as much energy.

https://www.bbc.co.uk/news/technology-46150107

lol

not @ the link, just a general lol

I watch a lot of Shark Tank now and it occurred to me that bitcoin is just like every single product that gets brought on where the entrepreneur is like "this is going to take over the world because x y z" and the sharks are like "Sounds great but you have no sales"

HODL not the best investment strategy for moving through a bubble

https://www.reddit.com/r/Bitcoin/comments/9ylaxp/the_rocket_has_taken_off/

simple but effective imo

looool

https://exchangewar.info/

someone's having a good day

That made me look into wtf Tether is and HOO boy.

yea Tether is amusing in that it's both an attempt to reverse-engineer real money AND a blatantly illegal financial scheme in which the creators just "invent" billions of dollars

Enron?

https://breakermag.com/trapped-at-sea-with-cryptos-nouveau-riche/

^^^ excellent writing. confirms my bias that crypto is a cult of thirsty dudebros above all

yeah it's a great article

yup, handy encapsulation of everything that's horribly wrong in the space

https://www.youtube.com/watch?v=8rGuH0vBLLs

roffle