@Baley said:
It's a long, complicated string of numbers, and there are a finite supply of those.
It takes a powerful computer a long time to dig up another such fancy number.
Sometimes the computers hit a bonus number and more coin comes out than usual.
It's fun and so far, so good!
What could go wrong?
Kind regards,
George
Someday in the not too distant future people will look back on this period of time and try to comprehend how anyone could possibly have been stupid enough to have invested in this.
There is a lot of confusion between blockchain technology and bitcoin. Blockchain is revolutionary, bitcoin is one of 300 cryptocurrencies and no one really knows which will be winners. Blockchain does not require either of them...so speculate away.
@Baley said:
It's a long, complicated string of numbers, and there are a finite supply of those.
It takes a powerful computer a long time to dig up another such fancy number.
Sometimes the computers hit a bonus number and more coin comes out than usual.
It's fun and so far, so good!
What could go wrong?
Kind regards,
George
Someday in the not too distant future people will look back on this period of time and try to comprehend how anyone could possibly have been stupid enough to have invested in this.
"Someday in the not too distant future people will look back on this period of time and try to comprehend how anyone could not have possibly invested in this."
Fixed it for you.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
"Someday in the not too distant future people will look back on this period of time and try to comprehend how no one either foretold or anticipated what actually happened."
Well, maybe I got bitcoin out of my system (as opposed to got bit). I sold my Riot Blockchain stock four days after I bought it, made $500. It has been incredibly volatile. I just don't think there's anything supporting bitcoin when the value comes crashing down. The exits won't be big enough. No one is using it as a payment method, so people who are reaping profits are switching to ethereum or other vaporware.
I also sold quite a bit of Tencent stock on the "sell the news" theory. Those of you in bitcoin, I hope you make a gazillion dollars. I won't.
I also won't lose a gazillion dollars. Today I'm gonna go see The Last Jedi with part of my bitcoin bounty.
Well, I'm glad I got that out of my system. I avoided bitcoin (after giving myself a Good Talking To) but I bought 200 shares of RIOT at $26.48 last week and sold them at $29, net profit after commissions $494.10. Not having had enough of a good thing (or perhaps not having learned my lesson yet), I bought 100 shares again two days later at $41.12 (!), only to sell them again the following day at $45. Net profit $378.10. Total profit $872.20. Enough to pay for some of that shellfish we are gonna dump into our Christmas Seafood Gumbo. OK, with a bit left over.
RIOT right now is quoted $25.15. Whiplash, anyone? This is the company that was known as Bioptix until sometime in October and was doing some kind of combinatorial life-sciences thingie. Apparently not very well. They have, IIRC, two math whiz/professional poker player types on their board.
Wishing you a Merry Christmas. Or whatever you observe or not.
@Baley said:
Not a real cat. A cartoon cat, also of limited edition for collectors.
Made of electrons and photons, not fur.
I just looked up these CryptoKitties, and sadly, I did not think that they were cute at all. Any real kitten is cuter than these. Even with their DNA on the Etherium blockchain!
Another article on how it is Korean - Jananese young men in their twenties and thirties who are driving this ride... there is even a name for them; bitcoin zombies. They are relying more on bitcoin than college educations... sends off danger signals to me.... but hey, to each there own. Maybe this time it really really is different (just like the tech stock craze, the tulip mania, the real estate boom).
@tincup said:
Another article on how it is Korean - Jananese young men in their twenties and thirties who are driving this ride... there is even a name for them; bitcoin zombies. They are relying more on bitcoin than college educations... sends off danger signals to me.... but hey, to each there own. Maybe this time it really really is different (just like the tech stock craze, the tulip mania, the real estate boom).
Pay no attention to the man behind the curtain. I already have a full plate of investments and don't really want to add an anonymous currency to the mix at this time. I will enjoy the circus from the sidelines. GLTA
With all those businesses accepting Bitcoin payment why is the number of bitcoin transactions so low? Why is so many large holders of Bitcoin paying so much to create buzz around it.
Why are the environmental folks not all over the wasted energy on this?
@Kkathyl said:
**Why is so many large holders of Bitcoin paying so much to create buzz around it. **
@Kkathyl I think you hit the nail on the head. Greater Fool Theory + Internet Buzz = Bitcoin Mania. As long as there is a greater fool, you will make money selling.
CNBC is not a reliable source without naming names. Now if CNBC said that Bill Gates sold off 2,000 ounces today and Oprah sold off 4,500 ounces today then I'd believe them. Otherwise it's just FAKE news.
Registry: CC lowballs (boblindstrom), bobinvegas1989@yahoo.com
December: CNBC Report: 'Investors' Dumping Gold To Buy Bitcoin
January: "Panicky Bitcoin investors struggle to withdraw cash from money exchanges as they look to ‘safe’ gold investments amid fears of cryptocurrency collapse"
Comments
Not a real cat. A cartoon cat, also of limited edition for collectors.
Made of electrons and photons, not fur.
Liberty: Parent of Science & Industry
A BLOCKCHAIN kitty though!!!
What could go wrong?
Kind regards,
George
Someday in the not too distant future people will look back on this period of time and try to comprehend how anyone could possibly have been stupid enough to have invested in this.
There is a lot of confusion between blockchain technology and bitcoin. Blockchain is revolutionary, bitcoin is one of 300 cryptocurrencies and no one really knows which will be winners. Blockchain does not require either of them...so speculate away.
This.
My YouTube Channel
"Someday in the not too distant future people will look back on this period of time and try to comprehend how anyone could not have possibly invested in this."
Fixed it for you.
Too many positive BST transactions with too many members to list.
"Someday in the not too distant future people will look back on this period of time and try to comprehend how no one either foretold or anticipated what actually happened."
Fixed it for both of you.
Here's a warning parable for coin collectors...
Well, maybe I got bitcoin out of my system (as opposed to got bit). I sold my Riot Blockchain stock four days after I bought it, made $500. It has been incredibly volatile. I just don't think there's anything supporting bitcoin when the value comes crashing down. The exits won't be big enough. No one is using it as a payment method, so people who are reaping profits are switching to ethereum or other vaporware.
I also sold quite a bit of Tencent stock on the "sell the news" theory. Those of you in bitcoin, I hope you make a gazillion dollars. I won't.
I also won't lose a gazillion dollars. Today I'm gonna go see The Last Jedi with part of my bitcoin bounty.
Kind regards,
George
I don't think cryptocurrency would be happening (or at least would not be of such rabid interest) were people confident of a sound money system.
+1
I knew it would happen.
From Bloomberg.com this morning: "Long Island Iced Tea Soars After Changing Its Name to Long Blockchain"
https://bloomberg.com/news/articles/2017-12-21/crypto-craze-sees-long-island-iced-tea-rename-as-long-blockchain
You can't make this stuff up
Kind regards,
George
Hundreds of years later tulips are still around.
Keep an open mind, or get financially repressed -Zoltan Pozsar
It looks like the tulips are wilting.
Well, I'm glad I got that out of my system. I avoided bitcoin (after giving myself a Good Talking To) but I bought 200 shares of RIOT at $26.48 last week and sold them at $29, net profit after commissions $494.10. Not having had enough of a good thing (or perhaps not having learned my lesson yet), I bought 100 shares again two days later at $41.12 (!), only to sell them again the following day at $45. Net profit $378.10. Total profit $872.20. Enough to pay for some of that shellfish we are gonna dump into our Christmas Seafood Gumbo. OK, with a bit left over.
RIOT right now is quoted $25.15. Whiplash, anyone? This is the company that was known as Bioptix until sometime in October and was doing some kind of combinatorial life-sciences thingie. Apparently not very well. They have, IIRC, two math whiz/professional poker player types on their board.
Wishing you a Merry Christmas. Or whatever you observe or not.
Kind regards,
George
I just looked up these CryptoKitties, and sadly, I did not think that they were cute at all. Any real kitten is cuter than these. Even with their DNA on the Etherium blockchain!
"Investors" and "bitcoin" should not be in the same sentence.
It defies all metrics.
If it's worth a dollar, why not a million?
Liberty: Parent of Science & Industry
And the same to you @AllCoinsRule!
Kind regards,
George
Currently down 21% on this “ investment” in bitcoin through the Coinbase app/site. Thankfully I only got $500 worth.
On the flip side , I made $2k trading in and out of GBTC in a week ( same time period)
I will stick with blue chips
Another article on how it is Korean - Jananese young men in their twenties and thirties who are driving this ride... there is even a name for them; bitcoin zombies. They are relying more on bitcoin than college educations... sends off danger signals to me.... but hey, to each there own. Maybe this time it really really is different (just like the tech stock craze, the tulip mania, the real estate boom).
https://www.zerohedge.com/news/2017-12-29/stunning-look-inside-world-south-koreas-bitcoin-zombies
And there, is the other shoulder.
That H&S pattern is often a "top" formation, isn't it, Chartists?
Liberty: Parent of Science & Industry
Will need to put them on suicide watch.
And to add to the drama... Australian banks are supposedly freezing bank accounts of bit coin users.... It's a brave new world.
https://www.zerohedge.com/news/2017-12-30/australian-banks-reportedly-freeze-accounts-bitcoin-users
Pay no attention to the man behind the curtain. I already have a full plate of investments and don't really want to add an anonymous currency to the mix at this time. I will enjoy the circus from the sidelines. GLTA
100% Positive BST transactions
And they’ll have Fun, Fun, Fun.....till their daddy takes the punch bowl away............
I knew it would happen.
With all those businesses accepting Bitcoin payment why is the number of bitcoin transactions so low? Why is so many large holders of Bitcoin paying so much to create buzz around it.
Why are the environmental folks not all over the wasted energy on this?
I will stick to metals
Best place to buy !
Bronze Associate member
@Kkathyl I think you hit the nail on the head. Greater Fool Theory + Internet Buzz = Bitcoin Mania. As long as there is a greater fool, you will make money selling.
Kind regards,
George
Send me your money. And I tell you it’s worth a thousand or million times more. And it’s under lock and key. Thank you.
The Chinese are doing the opposite
CNBC is not a reliable source without naming names. Now if CNBC said that Bill Gates sold off 2,000 ounces today and Oprah sold off 4,500 ounces today then I'd believe them. Otherwise it's just FAKE news.
Irony ...sweet irony...
December: CNBC Report: 'Investors' Dumping Gold To Buy Bitcoin
January: "Panicky Bitcoin investors struggle to withdraw cash from money exchanges as they look to ‘safe’ gold investments amid fears of cryptocurrency collapse"
https://www.thesun.co.uk/news/5396239/bitcoin-price-investors-selling-gold-value-collapse/
Loves me some shiny!
What? You don't believe them when the internet tells you it's there?
I knew it would happen.
The real bitcoin
Try again..