Cryptocurrencies

cameron12x · January 4, 2018 11:47AM

I have been away from the forum for awhile, so apologies in advance if this has been discussed.

What is happening with cryptocurrencies?

In the early 1800s, few citizens actually used American coinage, right? They used paper notes from other countries and local institutions.

Are there any parallels to today?

TwoSides2aCoin · January 4, 2018 12:09PM

No. Investors speculate the same way prospectors and miners do. Collectors , on the other hand, are sorta geeks.

ms70 · January 4, 2018 12:15PM

Does PCGS certify cryptocurrency?

calgolddiver · January 4, 2018 12:35PM

current market capitalization for cryptocurrencies that may be of interest.

https://coinmarketcap.com/

Sandman70gt · January 4, 2018 12:36PM

@ms70 said:
Does PCGS certify cryptocurrency?

Hard to certify 1101010101001001010

guitarwes · January 4, 2018 12:38PM

It's just a progression of currency thru the ages:
First it was fruit, vegetables, and livestock.
Then it was salt, spices, dyes.
Then it was gold, silver, copper, and bronze.
Then it was paper money.
Then it was checks.
Then it was credit cards.
Then it was electronic payments.
Now cryptocurrency. Lots faster and more secure.
.
.

Treashunt · January 4, 2018 12:52PM

@cameron12x said:
I have been away from the forum for awhile, so apologies in advance if this has been discussed.

What is happening with cryptocurrencies?

In the early 1800s, few citizens actually used American coinage, right? They used paper notes from other countries and local institutions.

Are there any parallels to today?

They used paper notes from other countries -- that I doubt, coinage yes, paper?
They didn't trust US paper

ms70 · January 4, 2018 12:52PM

@Sandman70gt said:

@ms70 said:
Does PCGS certify cryptocurrency?

Hard to certify 1101010101001001010

Whoooosh....

RogerB · January 4, 2018 12:56PM

"Craptocurrencies" are backed by nothing - not a national economy or even can of compressed air. They are worth their weight in free electrons, and much more speculative than tulip bulbs or Russian Imperial bonds.

BruceS · January 4, 2018 12:56PM

Yes, there are a few threads on the PM forum. The main sentiment here seems to be negative, but regardless of people reluctance, I believe cryptos are here to stay. If or when the volatility stops is any ones guess though.

jmlanzaf · January 4, 2018 12:59PM

@RogerB said:
"Craptocurrencies" are backed by nothing - not a national economy or even can of compressed air. They are worth their weight in free electrons, and much more speculative than tulip bulbs or Russian Imperial bonds.

This is NOT necessarily true. Bitcoin is backed by nothing. There are cryptocurrencies tied to hard assets. You could actually create a cryptocurrency backed by gold. The "crypto" is more about the means of exchange not the actual currency itself.

TwoSides2aCoin · January 4, 2018 1:00PM

PCGS won't be slabbing or grading anything soon, unless it's for money.

jmlanzaf · January 4, 2018 1:01PM

@guitarwes said:
It's just a progression of currency thru the ages:
First it was fruit, vegetables, and livestock.
Then it was salt, spices, dyes.
Then it was gold, silver, copper, and bronze.
Then it was paper money.
Then it was checks.
Then it was credit cards.
Then it was electronic payments.
Now cryptocurrency. Lots faster and more secure.
.
.

More secure? Did you see the news story about the guy who lost $100 million worth of bitcoin because he threw out his hard drive? If you lose the key, you lose the crypto.

ms70 · January 4, 2018 1:01PM

Shouldn't this be in the Cryptocurrency Forum?

TommyType · January 4, 2018 1:10PM

@BruceS said:
Yes, there are a few threads on the PM forum. The main sentiment here seems to be negative, but regardless of people reluctance, I believe cryptos are here to stay. If or when the volatility stops is any ones guess though.

I think the CONCEPT is here to stay. There is a usefulness to the concept: The ability to transfer payment (or wealth) anywhere in the world with minimal fees. Good idea! If you have a stash of crypto-bucks, it's like having PayPal without the constant transaction fees! I can see a time when banks could "sell" you some crypto currency for a minimal fee, and they will survive and be exchanged in commerce for many years. Run out? Buy a few more for a minimal fee. Have too many? Cash them in. But most will continue to circulate.

Now, why someone would pay $110 for something I paid $100 for, I have no idea. The speculation angle is just....crazy.

david3142 · January 4, 2018 1:23PM

@guitarwes said:
It's just a progression of currency thru the ages:
First it was fruit, vegetables, and livestock.
Then it was salt, spices, dyes.
Then it was gold, silver, copper, and bronze.
Then it was paper money.
Then it was checks.
Then it was credit cards.
Then it was electronic payments.
Now cryptocurrency. Lots faster and more secure.
.
.

This is incorrect in several ways. 1: (just looking at the US), paper money, checks, credit cards and PayPal all use the same currency - USD. They are simply different forms of transactions
2: crypto currency transactions are substantially less secure and slower than a credit card.

The blockchain is distributed and decentralized. That is the innovation.

LanLord · January 4, 2018 2:03PM

Someone should get a PCGS slab and put a bunch of tiny ones and zeros in it, just free floating so they can show off their slabbed cryptocurrency.

RogerB · January 4, 2018 2:08PM

@jmlanzaf said:

@RogerB said:
"Craptocurrencies" are backed by nothing - not a national economy or even can of compressed air. They are worth their weight in free electrons, and much more speculative than tulip bulbs or Russian Imperial bonds.

This is NOT necessarily true. Bitcoin is backed by nothing. There are cryptocurrencies tied to hard assets. You could actually create a cryptocurrency backed by gold. The "crypto" is more about the means of exchange not the actual currency itself.

The "hard assets" of these are "hard" only in the sense that they are "hard to find and hard to liquidate." These "craptocurrencies" are nothing more than ways to launder drug and other illicit funds, and a variation on Ponzi & Friends.

cameron12x · January 5, 2018 12:54AM

@LanLord said:
Someone should get a PCGS slab and put a bunch of tiny ones and zeros in it, just free floating so they can show off their slabbed cryptocurrency.

This is the answer I was looking for!

cameron12x · January 5, 2018 12:55AM

@RogerB said:

@jmlanzaf said:

@RogerB said:
"Craptocurrencies" are backed by nothing - not a national economy or even can of compressed air. They are worth their weight in free electrons, and much more speculative than tulip bulbs or Russian Imperial bonds.

This is NOT necessarily true. Bitcoin is backed by nothing. There are cryptocurrencies tied to hard assets. You could actually create a cryptocurrency backed by gold. The "crypto" is more about the means of exchange not the actual currency itself.

The "hard assets" of these are "hard" only in the sense that they are "hard to find and hard to liquidate." These "craptocurrencies" are nothing more than ways to launder drug and other illicit funds, and a variation on Ponzi & Friends.

What about Ripple? It is used by many mainstream banks today?

air4mdc · January 5, 2018 1:47AM

@TommyType said:

@BruceS said:
Yes, there are a few threads on the PM forum. The main sentiment here seems to be negative, but regardless of people reluctance, I believe cryptos are here to stay. If or when the volatility stops is any ones guess though.

I think the CONCEPT is here to stay. There is a usefulness to the concept: The ability to transfer payment (or wealth) anywhere in the world with minimal fees. Good idea! If you have a stash of crypto-bucks, it's like having PayPal without the constant transaction fees! I can see a time when banks could "sell" you some crypto currency for a minimal fee, and they will survive and be exchanged in commerce for many years. Run out? Buy a few more for a minimal fee. Have too many? Cash them in. But most will continue to circulate.

Now, why someone would pay $110 for something I paid $100 for, I have no idea. The speculation angle is just....

ATMS will be like payphones.....” Where do I find one?”
Just another example of a fee to get some of my money. I think brick and mortar banks will face some serious issues If and when crytocurrency becomes he digital currency of everyday use.
In all reality we use digital currency already. Like I can just use my debit card and never even touch money. Yes, there is a number in a bank account but I really can survive without actually having the money in hand. I don’t think my kids have carried any money for years. They even buy a .99cent soda with a debit card.
Like I said in a few previous posts, wait until blockchain technology gets up and going strong. Some major shipping companies are already looking into using this technology. Goodbye shipping brokers.....
Secure shipping from point A to B......shipping thefts total 60billion dollars.
Lots of interesting technology around the corner.

ricko · January 5, 2018 8:30AM

I do not see cryptocurrency surviving in it's present form. It will need to evolve....One fellow had the police at his house looking for a marijuana growing facility due to his high power usage while mining crypto's...... If it is to survive, it will have to change.... and right now, it's primary value is speculation and mining.... and the drug/money laundering markets.....among other nefarious transactions. Cheers, RickO

topstuf · January 5, 2018 8:37AM

@calgolddiver said:
current market capitalization for cryptocurrencies that may be of interest.

https://coinmarketcap.com/

Oh GOD how I love the term, "market capitalization."
If some jerk puts $500 on red in roulette, then red has a $500 "market capitalization."

The guy who will own the world will come up with something even MORE complicated and convoluted than cryptocurrency.

cameron12x · January 5, 2018 9:21AM

@ricko said:
I do not see cryptocurrency surviving in it's present form. It will need to evolve....One fellow had the police at his house looking for a marijuana growing facility due to his high power usage while mining crypto's...... If it is to survive, it will have to change.... and right now, it's primary value is speculation and mining.... and the drug/money laundering markets.....among other nefarious transactions. Cheers, RickO

Drug/money laundering and other nefarious markets already flourish today. And have since the beginning of recorded history. Changing from one money system to the next won't change the inherent goodness (or not) in people or society.

Cryptos will evolve. That is how free markets work efficiently. Many will not "make it." Again, take a look at Ripple. It is already accepted by mainstream banks. Today. With more on the way. Nation-states will start paying each other in this manner. Japan already recognizes it as legal tender. 2018 WILL be the year of mainstream acceptance and awareness of Blockchain technologies.

But blockchain and hashtag technologies extend far beyond just currencies. Better (and more fair) electronic political elections. Competition for eBay. It simply makes the method of exchange in a free-market world more transparent, fair, and with a reduction of "middle-men."

PocketArt · January 5, 2018 6:33PM

Whereas fiats are derived by central banks, who direct and control the monetary polices of all nations, and who force those to adhere to a set of agreed upon principles with whom they dictate an authoritarian medium of exchange...This only promotes dictatorial controls upon those whom are forced to exchange in that medium…well, that medium is backed by nothing but tyranny, at best, and at worst, a tyrannical cartel that supports itself, through the extortion of fear, debt, and inevitable enslavement.

These ambitions are set to blindly, or, willingly entrap humanity.

There is no “Federal” in the Federal reserve notes…just as there is no “Patriot,” in the Patriot Act, and no “Affordable,” in the affordable care act… all forms of enslavement engineered to obfuscate the truth, and that truth is becoming your subservient bondage to an authoritarian fist. So yeah, I like cryptos…to heck with the moneychangers.

Liberty loves cryptos…

TLeverage · January 6, 2018 4:05AM

Not PCGS, but you can actually buy ANACS-certified Bitcoins; they are referred to as Casascius Physical Bitcoins, physical metal coins that contain an embedded piece of paper with digital Bitcoin value, covered by a tamper-resistant hologram. and are available in 1, 10, 25, 100, and 1000 BTC (ingot) increments. The coins are designed such that they could be circulated in face-to-face transactions. The first person to redeem its private key gets the value on the coin, and afterwards, the coin no longer has any Bitcoin value. It is difficult or impossible to read the private key on the coin without damaging or destroying the hologram, which exposes a honeycomb-like tamper-evidence pattern when peeled.

The piece of paper inside each coin has a private key which forms the backing for the Bitcoin value represented by the coin. Redeeming the private key back into digital Bitcoins is currently available with a patched reference client and many of the alternative clients.

These were initially created as a sort of niche collectible or conversation piece, but with Bitcoin prices at ~$16K today, each of the 1000 BTC ingots is worth >$1.5 million. Shockingly, not all of them have yet been redeemed.

TLeverage · January 6, 2018 4:14AM

I do want to toss in my two cents about crypto as well. Is there rampant speculation in the crypto market? Absolutely. Is there value in blockchain technology? Yes. Many projects out there are garbage, and many are very promising.

Dogecoin was created as a BitCoin clone based off of a meme. Today, it has a market cap of greater than one billion dollars, much to our disappointment. Similarly, many crpyto investors hate Ripple because it is so centralized, and the creator can unload his 37% stake whenever he feels like it, potentially crashing prices for a crypto that hasn't really been implemented outside of Korea. Cardano is the #5 crypto by market cap. It has no working product. Tron recently broke out, but has a whitepaper that is poorly translated and very rough in concept.

Yet there is value out there. RaiBlocks allows feeless, instant transactions down to tenths of a cent, independent of banks. That in and of itself has value. VeChain and Walton implement blockchain tech to monitor logistics, and both have major industry partners. There are applications, and when the market inevitably crashes, the wheat will be separated from the chaff. Bitcoin's initial concept was to create a currency that could not be manipulated from a centralized source, and Stellar Lumens with FairX could do just that, but there are so many more applications beyond simple P2P transactions.

cameron12x · January 6, 2018 11:00AM

Well said about the array of blockchain and hashtag technology projects out there; it's a mix of great and poor.

After the recent sell-off, BTC appears to be on the cusp of breaking higher again. It needs to hold above $16,500 on Monday for that to happen. If it does, it's likely off to the races again.

Outside of Coinbase and a few other exchanges, This "trust" is about the easiest access one has to Bitcoin (you can trade it in your brokerage account). But beware of the premium. Many don't, as it hasn't mattered (yet) due to a lack of competition.

https://finance.yahoo.com/quote/gbtc?ltr=1

But that may change in 2018 if any cryptocurrency ETFs are approved by the SEC. It seems likely that some will later in the year.

jmlanzaf · January 6, 2018 11:35AM

@RogerB said:

@jmlanzaf said:

@RogerB said:
"Craptocurrencies" are backed by nothing - not a national economy or even can of compressed air. They are worth their weight in free electrons, and much more speculative than tulip bulbs or Russian Imperial bonds.

This is NOT necessarily true. Bitcoin is backed by nothing. There are cryptocurrencies tied to hard assets. You could actually create a cryptocurrency backed by gold. The "crypto" is more about the means of exchange not the actual currency itself.

The "hard assets" of these are "hard" only in the sense that they are "hard to find and hard to liquidate." These "craptocurrencies" are nothing more than ways to launder drug and other illicit funds, and a variation on Ponzi & Friends.

You might want to do a little research before you spout BS. There is a crypto backed by Argentine oil production. Ethereum allows creation of cryptos backed by gold.

Don't use willful ignorance of the facts as an argument unto itself.

bestday · January 6, 2018 4:16PM

@cameron12x said:
Well said about the array of blockchain and hashtag technology projects out there; it's a mix of great and poor.

After the recent sell-off, BTC appears to be on the cusp of breaking higher again. It needs to hold above $16,500 on Monday for that to happen. If it does, it's likely off to the races again.

Outside of Coinbase and a few other exchanges, This "trust" is about the easiest access one has to Bitcoin (you can trade it in your brokerage account). But beware of the premium. Many don't, as it hasn't mattered (yet) due to a lack of competition.

https://finance.yahoo.com/quote/gbtc?ltr=1

But that may change in 2018 if any cryptocurrency ETFs are approved by the SEC. It seems likely that some will later in the year.

LOL ,, After CME, Cboe listed Bitcoin futures, the CME Bitcoin high was their 1st day of trading Big CME traders will pick the bitcoiner pockets clean ..leading to lower prices on bitcoin

bestday · January 6, 2018 4:18PM

@jmlanzaf said:

@RogerB said:

@jmlanzaf said:

@RogerB said:
"Craptocurrencies" are backed by nothing - not a national economy or even can of compressed air. They are worth their weight in free electrons, and much more speculative than tulip bulbs or Russian Imperial bonds.

This is NOT necessarily true. Bitcoin is backed by nothing. There are cryptocurrencies tied to hard assets. You could actually create a cryptocurrency backed by gold. The "crypto" is more about the means of exchange not the actual currency itself.

The "hard assets" of these are "hard" only in the sense that they are "hard to find and hard to liquidate." These "craptocurrencies" are nothing more than ways to launder drug and other illicit funds, and a variation on Ponzi & Friends.

You might want to do a little research before you spout BS. There is a crypto backed by Argentine oil production. Ethereum allows creation of cryptos backed by gold.

Don't use willful ignorance of the facts as an argument unto itself.

There ya go .. Bitcoin not backed by anything.... less than 100 entities...... own 40 % of bitcoin
Seen ads, getting emails touting ..putting Bitcoins into IRAs.....LOL again

jmlanzaf · January 6, 2018 5:18PM

@bestday said:

@j

There ya go .. Bitcoin not backed by anything.... less than 100 entities...... own 40 % of bitcoin
Seen ads, getting emails touting ..putting Bitcoins into IRAs.....LOL again

Bitcoin is backed by nothing. Bitcoin is only one of a dozen or more cryptos.

https://ethereum.org/

jmlanzaf · January 6, 2018 5:19PM

https://ethereum.org/

jmlanzaf · January 6, 2018 5:24PM

@bestday said:

@cameron12x said:
Well said about the array of blockchain and hashtag technology projects out there; it's a mix of great and poor.

After the recent sell-off, BTC appears to be on the cusp of breaking higher again. It needs to hold above $16,500 on Monday for that to happen. If it does, it's likely off to the races again.

Outside of Coinbase and a few other exchanges, This "trust" is about the easiest access one has to Bitcoin (you can trade it in your brokerage account). But beware of the premium. Many don't, as it hasn't mattered (yet) due to a lack of competition.

https://finance.yahoo.com/quote/gbtc?ltr=1

But that may change in 2018 if any cryptocurrency ETFs are approved by the SEC. It seems likely that some will later in the year.

LOL ,, After CME, Cboe listed Bitcoin futures, the CME Bitcoin high was their 1st day of trading Big CME traders will pick the bitcoiner pockets clean ..leading to lower prices on bitcoin

That remains to be seen. I'm a Bitcoin skeptic, but you won't catch me shorting it. It could well go signficantly up from here. It also could well stay up. overstock.com now takes it. Apmex takes it. If it becomes a cornerstone of ecommerce, it could well be "the next big thing".

It also could end up being tulips.

Easy to make bold predictions when you have no money in the game. But that doesn't make you right. People shorted Amazon, eBay, Tesla, Google because THEY WERE SOOOO SURE.

I've been looking at blockchain technologies and I wouldn't even pretend to fully understand it. But there are a lot of very smart people who think the blockchain technology could be "the next big thing".

Dave99B · January 6, 2018 8:48PM

IMO:

1) Blockchain technology is here to stay. Lots of interesting uses.

2) Cryptocurrencies = pure baloney.

The End,
Dave

bestday · January 6, 2018 9:55PM

@Dave99B said:
IMO:

1) Blockchain technology is here to stay. Lots of interesting uses.

2) Cryptocurrencies = pure baloney.

The End,
Dave

true ............

derryb · January 6, 2018 9:56PM

The value of Bitcoin

Good primer on how it all works.

"The value in bitcoin is provided by the miners. No miners = no Bitcoin value. The army of Bitcoin miners require a huge amount of electricity and computing capital investment to run. As long as the costs of running the Bitcoin miners is lower than the value received, then it should persist. But as soon as the puzzle-solving becomes too hard, meaning too few Bitcoin rewards are granted per solved block (currently at 12.5 Bitcoin per block) to justify the expense, then the miners will start shutting down. It's simple cost/benefit math."

jmlanzaf · January 6, 2018 11:43PM

@derryb said:
The value of Bitcoin

Good primer on how it all works.

"The value in bitcoin is provided by the miners. No miners = no Bitcoin value. The army of Bitcoin miners require a huge amount of electricity and computing capital investment to run. As long as the costs of running the Bitcoin miners is lower than the value received, then it should persist. But as soon as the puzzle-solving becomes too hard, meaning too few Bitcoin rewards are granted per solved block (currently at 12.5 Bitcoin per block) to justify the expense, then the miners will start shutting down. It's simple cost/benefit math."

True, but also only Bitcoin. This doesn't apply to all cryptos.

cameron12x · January 7, 2018 1:40AM

To monitor the latest prices on the largest market cap cryptos, here is a good site. There are others.

The 24-hour market swings may take your breath away. As well as the sustained growth by some.

https://coinranking.com/

topstuf · January 7, 2018 1:44AM

Something new to think about:
https://amp.timeinc.net/fortune/2018/01/06/breaking-bitcoin-cybersaturday

air4mdc · January 7, 2018 2:33AM

@jmlanzaf said:

@bestday said:

@cameron12x said:
Well said about the array of blockchain and hashtag technology projects out there; it's a mix of great and poor.

After the recent sell-off, BTC appears to be on the cusp of breaking higher again. It needs to hold above $16,500 on Monday for that to happen. If it does, it's likely off to the races again.

Outside of Coinbase and a few other exchanges, This "trust" is about the easiest access one has to Bitcoin (you can trade it in your brokerage account). But beware of the premium. Many don't, as it hasn't mattered (yet) due to a lack of competition.

https://finance.yahoo.com/quote/gbtc?ltr=1

But that may change in 2018 if any cryptocurrency ETFs are approved by the SEC. It seems likely that some will later in the year.

LOL ,, After CME, Cboe listed Bitcoin futures, the CME Bitcoin high was their 1st day of trading Big CME traders will pick the bitcoiner pockets clean ..leading to lower prices on bitcoin

That remains to be seen. I'm a Bitcoin skeptic, but you won't catch me shorting it. It could well go signficantly up from here. It also could well stay up. overstock.com now takes it. Apmex takes it. If it becomes a cornerstone of ecommerce, it could well be "the next big thing".

It also could end up being tulips.

Easy to make bold predictions when you have no money in the game. But that doesn't make you right. People shorted Amazon, eBay, Tesla, Google because THEY WERE SOOOO SURE.

I've been looking at blockchain technologies and I wouldn't even pretend to fully understand it. But there are a lot of very smart people who think the blockchain technology could be "the next big thing".

BITA for instance.....Blockchain In Transport Alliance. Which looks to develope blockchain technolgy for the freight industry. This forum educates the members about blockchain and its implications in logistics. UPS announced they will be participants. The freight industry is a 1.5 trillion dollar business and by adopting blockchain technolgy could could help the freight industry be more efficient and avert such things such as shipping delays, points of failure and increasing prices. It will also help pinpoint who is at fault for a missing or damage package.
I speculate that blockchain, if ever used in this industry will be a huge factor in its success.

TwoSides2aCoin · January 7, 2018 8:01AM

It's as dependent on Ohm's Law as we are, for thinking here.

ChrisRx · January 7, 2018 9:26AM

Cryptocurrencies are NOT secure (no fdic insurance, can be hacked, etc.)

They are hard to value because there is nothing to base it off of (earning reports, intrinsic value, industrial use, health of economy, etc.) Therefor they are not investments.

david3142 · January 7, 2018 10:51AM

@ChrisRx said:
Cryptocurrencies are NOT secure (no fdic insurance, can be hacked, etc.)

They are hard to value because there is nothing to base it off of (earning reports, intrinsic value, industrial use, health of economy, etc.) Therefor they are not investments.

That is incorrect. They may not be “safe” investments, for sure, but bear in mind, bitcoin returned 1500% last year. Have any of your investments done that in one year?

ChrisRx · January 7, 2018 11:07AM

@david3142 said:

@ChrisRx said:
Cryptocurrencies are NOT secure (no fdic insurance, can be hacked, etc.)

They are hard to value because there is nothing to base it off of (earning reports, intrinsic value, industrial use, health of economy, etc.) Therefor they are not investments.

That is incorrect. They may not be “safe” investments , for sure, but bear in mind, bitcoin returned 1500% last year. Have any of your investments done that in one year?

Actually YES I have. I put $100 in a video keno machine at harrahs lake tahoe and played an 8 spot with $2/throw and hit 7 out of 8 numbers for $3100. That doesn't make one smart, however.

itsnotjustme · January 7, 2018 11:14AM

@air4mdc said:

@TommyType said:

@BruceS said:

ATMS will be like payphones.....” Where do I find one?”

I think with the large varieties of how to pay WITH US DOLLARS, ATM will be less needed. I really go through very little currency.... perhaps less than 1% of what I spend each month. With more and more options of HOW TO PAY, that percentage can drop further.

So in my view, any future decline in ATMs is unlikely due to cryptocurrencies, and more likely due to other factors.

david3142 · January 7, 2018 11:37AM

@ChrisRx said:

@david3142 said:

@ChrisRx said:
Cryptocurrencies are NOT secure (no fdic insurance, can be hacked, etc.)

They are hard to value because there is nothing to base it off of (earning reports, intrinsic value, industrial use, health of economy, etc.) Therefor they are not investments.

That is incorrect. They may not be “safe” investments , for sure, but bear in mind, bitcoin returned 1500% last year. Have any of your investments done that in one year?

Actually YES I have. I put $100 in a video keno machine at harrahs lake tahoe and played an 8 spot with $2/throw and hit 7 out of 8 numbers for $3100. That doesn't make one smart, however.

That’s pretty awesome, actually. Nice work!

ChrisRx · January 7, 2018 12:25PM

bestday · January 7, 2018 6:50PM

@topstuf said:

@calgolddiver said:
current market capitalization for cryptocurrencies that may be of interest.

https://coinmarketcap.com/

Oh GOD how I love the term, "market capitalization."
If some jerk puts $500 on red in roulette, then red has a $500 "market capitalization."

The guy who will own the world will come up with something even MORE complicated and convoluted than cryptocurrency.

Bitcoins ,,etc are this year's version of the 2005 -2008 sub prime mortgage scam.. No one went to Prison even though

possibly trillions $$$$ were scammed ...... wake up folks

bestday · January 7, 2018 6:51PM

@ChrisRx said:

What are the odds of hitting 7 numbers ?

PocketArt · January 8, 2018 5:12PM

@bestday said:

@topstuf said:

@calgolddiver said:
current market capitalization for cryptocurrencies that may be of interest.

https://coinmarketcap.com/

Oh GOD how I love the term, "market capitalization."
If some jerk puts $500 on red in roulette, then red has a $500 "market capitalization."

The guy who will own the world will come up with something even MORE complicated and convoluted than cryptocurrency.

Bitcoins ,,etc are this year's version of the 2005 -2008 sub prime mortgage scam.. No one went to Prison even though

possibly trillions $$$$ were scammed ...... wake up folks

I'd suggest the scam is still going on, especially with sub-prime auto loans.

For me, it's pretty simple- I'm not loosing my roof, or concerned about my wheels. I invest what I can afford to lose. If I do a belly flop at 6-7 feet and get stung, it may hurt, but I'll still crawl out of the pool. Now, if I do the same thing 6-7 stories up- send the lifeguard out because I'm probably under water, and won't make it...

Odds of what you win on a slot machine are already known by statistical chance...block-chain technology/crypto-currencies haven't really broken any floor, or, ceiling to gauge the risk, or, usefulness yet; however, we know cash is becoming a fossil, and technology is moving forward, and ushering in change faster than that rotary phone you called Grandma on; to the smart phone you just called your grandchild. How long did that take?

Millennials are testing their toe on this, and these are the same people who will probably care for me when I need to take a ____ and unable to do so myself. So, maybe I'm preparing for the future through a different set of lenses...maybe goggles if I sink...but; then again, I'm not investing what I can't afford to lose so no loss.

I still have real coins....

Cryptocurrencies

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