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Thread: Cryptocurrency

  1. #301
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    Cambodia joins the list of countries to issue their own crypto currency. I don't know if there is any plan to make it resource backed, but here is one link below:
    https://zycrypto.com/cambodia-joins-...ryptocurrency/

    It goes like this:
    Crypto 1.0 was Bitcoin, its now 10 years old, old technology and concepts.

    Crypto 1.4, Crypto 1.5 and crypto 1.6 were modifications, good or bad, to bitcoin such as litecoin, ethereum, NEM etc but still not resource backed. Modifications after seeing how the 10 year old bitcoin worked. However, these were technical modifications without new concepts such as resource backed.

    Enter Crypto 2.0 the Petro(Venezuela).
    After observing the evolution of bitcoin and the operations of the modifications of bitcoin selection of the best technology for a resource backed crypto coin and state sponsored was possible.
    Venezuela has 300 Billion barrels of oil reserves, at $60 per barrel, this makes possible in fact $1.8 trillion of Petro available
    For international trade, there were practical considerations that made the US dollar dominate like you needed economy of scale - money could be transfered to every country and infrastructure existed. However crypto coins don't require this economy of scale, even though the Petro potentially does have this scale.

    So, the Petro can go head on as competition to the US dollar. Except the US dollar is backed by nothing, and there are $13 trillion US dollars outside of america in foreign countries(or higher than this).

    2018 might be the year of the US dollar collapse, my money is on it and needless to say I won't be holding US dollars.

    All eyes are on the Petro, and I guess as the operations are observed there will be Crypto 2.1 or Crypto 2.5 implemented by other countries.

    The debt based corrupt money systems that have cursed our societies for the last 100 years are now finished - the writing is on the wall. All ponzi coins prior to crypto 2.0 are worth between zero and nothing.
    Last edited by rumple_stilskin; 06-03-2018 at 15:04.

  2. #302
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    2018 might be the year of the US dollar collapse, my money is on it
    It takes one crazy putinist to ruin a nice thread. I made him a thread where he could utter his intellectually challenged scepticism about cryptos, but instead he became a staunch fanatic of cryptos, - well, of one particular crypto, and is still trying very hard to ruin the thread, now with the "dollar will be dead soon because the petro will rule the world" nonsense. I heard it many times back in the USSR, the USSR collapsed but the dollar is still around.

    Anyway, about the current situation, - my prediction for March for bitcoin is 8-9K within this week then up to 13-15K, then another dump to 9-11K. Any other ideas?

    P.S. Maybe we need a separate thread for Rumple and his petro-shmetro-hren-chlen stuff? I mean, this ardent putinist is clueless and his ideas clearly border on downright lunacy. Do they clone them in a clandestine Kremlin laboratory these days or something?

  3. #303
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    Quote Originally Posted by Russian Lad View Post
    It takes one crazy putinist to ruin a nice thread. I made him a thread where he could utter his intellectually challenged scepticism about cryptos, but instead he became a staunch fanatic of cryptos, - well, of one particular crypto, and is still trying very hard to ruin the thread, now with the "dollar will be dead soon because the petro will rule the world" nonsense. I heard it many times back in the USSR, the USSR collapsed but the dollar is still around.

    Anyway, about the current situation, - my prediction for March for bitcoin is 8-9K within this week then up to 13-15K, then another dump to 9-11K. Any other ideas?

    P.S. Maybe we need a separate thread for Rumple and his petro-shmetro-hren-chlen stuff? I mean, this ardent putinist is clueless and his ideas clearly border on downright lunacy. Do they clone them in a clandestine Kremlin laboratory these days or something?
    I'm buying more Ripple when it hits 75c. I just wish that Bitstamp didn't charge 10%-12% for credit card purchase.

    I will admit it - I don't know how crytpo's work, and I don't know how the dollar works, or banks, or the price of Gold, even though I got A's in Micro and Macro Economics and Intermediate Price Theory. But the US carrying $20 trillion in debt is not good, especially if the interest rate, say, would go to 10% - then the interest-payment per year would be a jaw-dropping, budget-busting $2 trillion a year.
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  4. #304
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    I just wish that Bitstamp didn't charge 10%-12% for credit card purchase.
    Sounds like a robbery. What is the withdrawal %? The theory is pretty simple - buy when the price goes to the bottom and sell when it soars. In batches. However, psychologically it is the hardest thing ever. Another indicator is the news on coindesk. Buy when the news are terrible and sell when the news are great. There is also the technical factor - the mining capacity and the point when it stops being (really?) profitable. If Remington is still around, hopefully he can shed some more light on this for us, I am still learning.

  5. #305
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    Quote Originally Posted by Russian Lad View Post
    Sounds like a robbery. What is the withdrawal %? The theory is pretty simple - buy when the price goes to the bottom and sell when it soars. In batches. However, psychologically it is the hardest thing ever. Another indicator is the news on coindesk. Buy when the news are terrible and sell when the news are great. There is also the technical factor - the mining capacity and the point when it stops being (really?) profitable. If Remington is still around, hopefully he can shed some more light on this for us, I am still learning.
    Withdrawal from BitStamp is only a couple of dollars, and same for buying any crypto using available cash/bitcoin/other-crytpo-coins one already has deposited on their website. But I don't want to sell the Ripple I already have there, so to buy additional Ripple I have to use credit card...?

    Whoops, getting ahead of myself, too impatient. I used CC to purchase a couple of months ago when the price was boinging around like a pogo stick, and I was hyper, I wanted some immediately. You can make bank-to-bank transfer of $ or Euros (withdrawal or deposit) for $15 (plus your own bank's fees). Not bad, but it takes a couple of days - I withdraw some $$ last month, nothing happened so I'm worrying I got scammed, but they are legitimate website, it just took a few days for the withdrawal to show up in my bank account.

    So when Ripple hits 75c, bet it bounces back fast. By the time my deposit gets cleared, it will be back at $1.10.
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  7. #306
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    Ok, let's see what happens.

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  9. #307
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    Quote Originally Posted by Russian Lad View Post
    It takes one crazy putinist to ruin a nice thread. I made him a thread where he could utter his intellectually challenged scepticism about cryptos, but instead he became a staunch fanatic of cryptos, - well, of one particular crypto, and is still trying very hard to ruin the thread, now with the "dollar will be dead soon because the petro will rule the world" nonsense. I heard it many times back in the USSR, the USSR collapsed but the dollar is still around.

    Anyway, about the current situation, - my prediction for March for bitcoin is 8-9K within this week then up to 13-15K, then another dump to 9-11K. Any other ideas?

    P.S. Maybe we need a separate thread for Rumple and his petro-shmetro-hren-chlen stuff? I mean, this ardent putinist is clueless and his ideas clearly border on downright lunacy. Do they clone them in a clandestine Kremlin laboratory these days or something?


    Up, up and away, in my beautiful, my beautiful crypto balloon! Ba, ba, ba ba ta da! Balloon!


    Stay tuned and watch Capitan Crypto fight all logic to win the battle of zeros and ones in a never ending battle for better looking whores, rings for fat fingers and other stuff you can't take with you when you die. Or the electricity goes out or a war starts and they turn off the internet. Easy cum, easy go.
    If you trust the government you obviously failed history class. " George Carlin"

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  11. #308
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  12. #309
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    So when Ripple hits 75c
    78 cents now, 6.06 a.m., Moscow time. The market is having a controlled and predicted mini-crash. Buying time... Let's ride it with the whales.
    Me, I want me Gold. Bitcoin Gold aka BTG... ETC has developed a life of its own, one of my favorites from the very beginning. The cap is like USD 100 bln. down and its price is about the same - brilliant. Калсик из риал биткойн.
    Last edited by Russian Lad; 09-03-2018 at 06:40.

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  14. #310
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    Ripple bounced off 75c. Wish I had some money to buy more of it. Really don't want to use the credit card.

    You can buy Krugerrands, and for concealment, tape them to the plumbing inside the wall. Metal detectors will just think they are part of the pipes.
    I only drink on days ending in "y".

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  16. #311
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    I am like 70% certain now that we will be heading to 12-14K for bitcoin withing the coming 10 days.

  17. #312
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    Quote Originally Posted by TheInterocitor View Post
    Ripple bounced off 75c. Wish I had some money to buy more of it. Really don't want to use the credit card.
    Using a credit card is very bad idea. Doesn't matter if you're an experienced trader but at some point you'll get burnt.

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  19. #313
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    Quote Originally Posted by Russian Lad View Post
    There is also the technical factor - the mining capacity and the point when it stops being (really?) profitable. If Remington is still around, hopefully he can shed some more light on this for us, I am still learning.
    Mining machines can become unprofitable if the monthly electric cost exceeds the profit produced by the machines. That's why most mining operations are based in China due to its very cheap electricity cost. However, return on investment can take several months and up to a year. It's still a risky investment as well due to countries changing laws in regards to mining. I will need to be licensed to run mining operations in Russia so that's why my operations are based in US and Ukraine. China is also mulling on banning mining operations in China because its a huge drain on their electric infrastructures.

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  21. #314
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    Quote Originally Posted by Remington View Post
    Using a credit card is very bad idea. Doesn't matter if you're an experienced trader but at some point you'll get burnt.
    I can vouch for that. I had to cancel one credit card after getting a strange transaction on it, just last week. Good thing the CC company picked up on it and asked me about it. But I don't want to blame the crypto exchange, it could very likely have been a couple of other internet sites I traveled to.

    What's safer, Paypal?
    I only drink on days ending in "y".

  22. #315
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    Quote Originally Posted by TheInterocitor View Post
    I can vouch for that. I had to cancel one credit card after getting a strange transaction on it, just last week. Good thing the CC company picked up on it and asked me about it. But I don't want to blame the crypto exchange, it could very likely have been a couple of other internet sites I traveled to.
    This is one of the reasons with untrustworthy exchanges but I'm talking from investor's point of view of using credit cards or loans to buy cryptos. If you use CC to buy cryptos and it tanks, you end up paying the creditors for the losses. Also if crypto stalls without going up and you end up paying interests to the creditors. That's why several major US banks have stopped allowing their clients to use their CC to buy cryptos because of its high risk investment. Banks end up taking the losses if it can't be paid back.

    What's safer, Paypal?
    You can buy a debit card at the store and top it up or use one time CC number issued by the bank for online purchases.

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