Cryptocurrencies

its demonic, friend

thought this was going to be about some sort of body freezing investment.

I actually do a lot with it as part of my job.

There's a bunch of crypto commodity sites.

Personally don't mess around with them, but don't really have the spare cash or need.

Playing Currency markets is always a dangerous game though.

As far as I know this stuff is only really good for buying Drugs.

By Zeus Ex Machina Go To PostAs far as I know this stuff is only really good for buying Drugs.

Or porn or other things where you don't want give any kind of information.

By Zeus Ex Machina Go To PostAs far as I know this stuff is only really good for buying Drugs.

Surprisingly never done this. too risky but I have some bitcoins.

By Zeus Ex Machina Go To PostAs far as I know this stuff is only really good for buying Drugs.

Certain currencies have s better chance at actually becoming a currency. Dogecoin is one of those, funny enough. At least it was.

Bitcoin isn't really a currency. I mean, I guess it is, but it's a naturally deflating currency since its total amount will peak and never change. Deflation incentives savings and not spending. This is a built in feature. It's the reason prices fluctuate massively. It's basically gambling.

Dogecoin was the second most traded cryptocurrency fof a while there. Which is hilarious. It's was a better "currency" though. It has the ability to expand with the amount of people who buy in. Because this isn't a naturally deflating currency, it's was a ton more stable.

Honestly, I'm surprised Bitcoin is still around after all that money/coin just up and vanished like a fart in the wind. Placing intrinsic value on a naturally deflating casino chip that can just vanish because of lack of regulations seems crazy

Another thing I find interesting about Bitcoin. The concept started because they wanted to escape banking regulation and federal oversight. When I first heard of it, it felt like it wanted to be an actual currency substitute. The more and more it became popular the more and more it felt like people were just trying to make a quick buck by gambling on crashes and spikes. By quick buck I literally mean the dollar too. The thing in which it was meant to subvert.

Kinda similar to the gold bug thing. Kinda.

"Hey .... the dollar has no real value. It's not tied to any specific commodity! (like gold has actual intrinsic value beyond being good electrical conductor lol) It's glorified monopoly money and you will be subject to hyperinflation! Here .... let me sell you some of this gold i have for some of that totally worthless paper monopoly money!"

and now you can buy kids with it

I had not heard that. I should have assumed that though.

Usually when someone invents something in the name of "freedom" that's entrenched in "libertarian" ideals, I just assume it's because they wanna do illegal shit while keeping the government at arm's length.

I'm actually going to put 300 bucks into ethereum today. Might be lighting my money on fire, but I was considering buying into it months ago and if I had done it I would have seen my investment increase x10.

I don't see it capping out at this low a number either.

By Fenderputty Go To PostI had not heard that. I should have assumed that though.

This is one of those things with a grimey underbelly like the old 80s movies.

Yes, investments, growth, etc

Also what's the best way to fund an illegal activity quickly and with significantly reduced personal risk? Oh and organized crime is still a thing (and they're pretty good at what they do)

Invest in something that's less likely to assist in the funding for an ethnic cleansing.

By DY_nasty Go To PostInvest in something that's less likely to assist in the funding for an ethnic cleansing.

I always thought risk was a good reason, but this is exponentially better.

To be clear, I'm not shitting on the entire game.

Just... its really hard to NOT be unaware that things about this particular investment market MIGHT put you closer to shadier entities than you've ever thought about encountering.

By Dark PhaZe Go To PostI'm actually going to put 300 bucks into ethereum today. Might be lighting my money on fire, but I was considering buying into it months ago and if I had done it I would have seen my investment increase x10.

I don't see it capping out at this low a number either.

There was a big jump in price yesterday that you missed out on :( But yeah there is a lot of news coming down the road for it and it has the backing of some major powers right now for whatever reason with more expected to join.

http://fortune.com/2017/02/28/ethereum-jpmorgan-microsoft-alliance/

By Fenderputty Go To PostAnother thing I find interesting about Bitcoin. The concept started because they wanted to escape banking regulation and federal oversight. When I first heard of it, it felt like it wanted to be an actual currency substitute. The more and more it became popular the more and more it felt like people were just trying to make a quick buck by gambling on crashes and spikes. By quick buck I literally mean the dollar too. The thing in which it was meant to subvert.

Kinda similar to the gold bug thing. Kinda.

"Hey …. the dollar has no real value. It's not tied to any specific commodity! (like gold has actual intrinsic value beyond being good electrical conductor lol) It's glorified monopoly money and you will be subject to hyperinflation! Here …. let me sell you some of this gold i have for some of that totally worthless paper monopoly money!"

I think people have come to terms with bitcoin being a "digital gold" at this point. The entire community is embroiled in civil war right now because of how ridiculous making transactions has become.

By DY_nasty Go To PostThis is one of those things with a grimey underbelly like the old 80s movies.

Yes, investments, growth, etc

Also what's the best way to fund an illegal activity quickly and with significantly reduced personal risk? Oh and organized crime is still a thing (and they're pretty good at what they do)

Invest in something that's less likely to assist in the funding for an ethnic cleansing.

Kind of understand what you are getting at but the technology exists and ignoring it because people can use it for shady shit is pointless. I can send you counter strike skins in exchange for an actual gun and it would achieve the same purpose. From what I understand the anonymity of the entire thing is severely overstated anyway. The only difference is that someone can ask Valve to provide the information that I sent you skins and they can ignore you. Anyone can read the blockchain and connect the dots on who is sending who crypto and at this point it all connects to exchanges in which you provide your bank account information lol.

this thread actually got me thinking, morals aside, the OTC market for bitcoin right now is fucking sweet right now, but I still think maybe a bit too niche but I'll keep my eye on it.

Yea vlat there's going to be a lot of big price jumps over the years with ether though

How many coins of it do you have

Your title is fucked up m8

By Dark PhaZe Go To PostYea vlat there's going to be a lot of big price jumps over the years with ether though

How many coins of it do you have

A friend of mine got asked to move find a buyer for 180 bitcoins and he took 5%. 9k for an hours work (its not he's actual job) and its something that he's being asked to do more often.

I'm researching crypto currencies now and am taking a real interest.

By Dark PhaZe Go To PostYea vlat there's going to be a lot of big price jumps over the years with ether though

How many coins of it do you have

Definitely feels like Ethereum is still niche. Doubt even many tech savvy people know about it let alone mainstream.

Not a lot, but I'm not comfortable talking about how much I have in case it really blows up lol.

By WoodenPapangu Go To PostYour title is fucked up m8

Whoops, thanks m8

By Kidjr Go To PostA friend of mine got asked to move find a buyer for 180 bitcoins and he took 5%. 9k for an hours work (its not he's actual job) and its something that he's being asked to do more often.

I'm researching crypto currencies now and am taking a real interest.

whoa

I thought bitcoin was advanced by now where you could offload whatever you wanted through various transactions

need to do some research

also vlat what sites do you use for this stuff

By Vlatko Go To PostKind of understand what you are getting at but the technology exists and ignoring it because people can use it for shady shit is pointless. I can send you counter strike skins in exchange for an actual gun and it would achieve the same purpose. From what I understand the anonymity of the entire thing is severely overstated anyway. The only difference is that someone can ask Valve to provide the information that I sent you skins and they can ignore you. Anyone can read the blockchain and connect the dots on who is sending who crypto and at this point it all connects to exchanges in which you provide your bank account information lol.

I... wait ... what?

This isn't like the birth of bluetooth where people thought that it would give you cancer for being around it too much. This digitial currency stuff is one of the primary forms of payment for dark net fukkery and other organized crime. Between hackers hitting communities in order to directly manipulate a currency's value, rights to use pirating shipping lanes, and literal human marketing its kinda worth at the very least not so nonchalantly handwaving away.

Its not regulated or protected and you're trading notbloodmoney but certainly gladidonthavetodealwiththecops money

but wow isn't it edgy

By DY_nasty Go To PostI… wait … what?

This isn't like the birth of bluetooth where people thought that it would give you cancer for being around it too much. This digitial currency stuff is one of the primary forms of payment for dark net fukkery and other organized crime. Between hackers hitting communities in order to directly manipulate a currency's value, rights to use pirating shipping lanes, and literal human marketing its kinda worth at the very least not so nonchalantly handwaving away.

Its not regulated or protected and you're trading notbloodmoney but certainly gladidonthavetodealwiththecops money

but wow isn't it edgy

I think the contention here is that I believe that there could be bigger use for blockchains other than storing money online and semi-anonymous transactions that bitcoin was trumpeting years ago.

The idea behind ethereum is that it is platform to run code through a blockchain and I find it interesting because it seems to have real world uses that businesses can get behind to do things cheaper and without third parties. At the same time it is a currency that people can use to do all the shady shit you describe. If all people care about in a few years is buying drugs and "my freedom" then maybe you are right but the things I read about are people discussing market prices and speculating on future use cases.

Maybe I am being naive though.

By Vlatko Go To PostI think the contention here is that I believe that there could be bigger use for blockchains other than storing money online and semi-anonymous transactions that bitcoin was trumpeting years ago.

The idea behind ethereum is that it is platform to run code through a blockchain and I find it interesting because it seems to have real world uses that businesses can get behind to do things cheaper and without third parties. At the same time it is a currency that people can use to do all the shady shit you describe. If all people care about in a few years is buying drugs and "my freedom" then maybe you are right but the things I read about are people discussing market prices and speculating on future use cases.

There isn't a contention so much as there is cognitive dissonance.

Its not 'a few years' from now either. If the people so interested in cryptocurrency put half as much research into market trends as they did into places where money actually ends up going and the less than desirable elements that have significant influence, then I guarantee there'd be a lot more given than a casual passing fuck.

yes yes yes, human trafficking, funding some warlords chokehold over humanitarian aid supplies, the global piracy market, killmywife.com, laundering god yes the glorious laundering benefits, etc.

…but think of the growth potential

I'd say both sides are being naive. Just because something can / is being used to do despicable things, doesn't mean everyone who uses it has to be held to account for it. I don't hold gun owners in Australia to a account for ISIS.

Crypto currencies are great for many reasons. But the main one is that they're not beholden or regulated by a government. A lot of the use for these things isn't human rights violations.

As for trading in them and trying to pick the next hot one ... There are thousands of these things out there at the moment. And there will be a reason that most of the websites read like pyramid scheme's. Picking the next one that will be any good ...

You need thousands up thousands of transactions to create a real market, and that's very difficult to establish.

BTC is slowly coming towards some sort of "legitimacy". Purely because of the number of transactions. There's a genuine futures market, lots of exchanges that are very secure and professional. If you want to use it for legitimate purposes, you can do so.

I kind of agree with Dy but from a more economic standpoint I mean you guys want to invest..... I think the more casual consumer just wants cheap Adderall and weed candy bars shipped to them through usps. Which leads to the other issue I have with this if/when politicians finally make it that you can't ship drugs/contraband as easily through the USPS most of these cryptocurrencies are fucked. They really are propped up through a blindspot in the shipping of goods that could be corrected very quickly if it ever drew any particular mainstream notice. Once that is gone the exchange of these currencies for goods will become much more of a burden and it wont be profitable. Get money while you can but eventually some fucker is going to ruin it by making it to hot and that market is going to collapse

if your primary interest is as an investment opportunity, then you're just happily trotting along with quick cash fad. if you really wanted in on this shit then you'd be throwing money into the management/advising/consultation/oversight in a quickly growing .... whatever or wherever this new world of trade transforms to.

you can't really equate this next to gun owner ownership or anything like that, you know exactly how far and to what end a gun can be used for. if you were to sell a gun to someone, (hopefully) your conscience is inherently sound after such a transaction because you know what you're handing over and what its capable of.

my issue with crypto is that people happily deal wild cards to one another in a fantastical unregulated wonderland full of possibilities while shuttering themselves away from the very real and tangible dangers directly linked to it all

By DY_nasty Go To Postif your primary interest is as an investment opportunity, then you're just happily trotting along with quick cash fad. if you really wanted in on this shit then you'd be throwing money into the management/advising/consultation/oversight in a quickly growing …. whatever or wherever this new world of trade transforms to.

you can't really equate this next to gun owner ownership or anything like that, you know exactly how far and to what end a gun can be used for. if you were to sell a gun to someone, (hopefully) your conscience is inherently sound after such a transaction because you know what you're handing over and what its capable of.

my issue with crypto is that people happily deal wild cards to one another in a fantastical unregulated wonderland full of possibilities while shuttering themselves away from the very real and tangible dangers directly linked to it all

I don't think anyone who trades in cryptos is unaware that there are dangers in doing so. They're unregulated and not backed by any government that can prop up / back up the value. And if you aren't, then you're approaching this in a very silly manner.

I think you can equate to ownership of anything that is used as part of human rights violations. Guns, Religion, Toyota pick up trucks.

FYI, There are many sites out there that are using it to take payments for perfectly legitimate products and services. I'm not burying my head in the sand and saying there isn't the other side. There really is. But there are more people who are using it for other purposes.

By giririsss Go To PostI don't think anyone who trades in cryptos is unaware that there are dangers in doing so. They're unregulated and not backed by any government that can prop up / back up the value. And if you aren't, then you're approaching this in a very silly manner.

I think you can equate to ownership of anything that is used as part of human rights violations. Guns, Religion, Toyota pick up trucks.

FYI, There are many sites out there that are using it to take payments for perfectly legitimate products and services. I'm not burying my head in the sand and saying there isn't the other side. There really is. But there are more people who are using it for other purposes.

That's our main difference in opinion. Not the other stuff.

I think that people either hand wave that away, don't care, pretend to know and don't care, or don't believe that bad things happen because of them.

I guess my main confusion is why you think it requires more cognitive dissonance to put some money into crypto than to do most things in life.

We are using a forum to discuss sports that are funded off the work of sweatshops, on phones that use materials mined by African children, through an internet that spreads the most hateful of ideas. You seem to be telling me that I'm helping write a page of the anarchist cookbook when its available for $10 on amazon.

I'm heavily invested in doge, looking at pivx and etherum. What's a good pivx faucet?

By Vlatko Go To PostI guess my main confusion is why you think it requires more cognitive dissonance to put some money into crypto than to do most things in life.

We are using a forum to discuss sports that are funded off the work of sweatshops, on phones that use materials mined by African children, through an internet that spreads the most hateful of ideas. You seem to be telling me that I'm helping write a page of the anarchist cookbook when its available for $10 on amazon.

Because that's all been a part of the game for centuries.

Crypto massively shortens the distance between the 'unaware' consumer and everything else.

Money laundering for example. Washing money and getting roughly 30% percent back is generally a fantastic turn around. Levels on levels would have to work in perfect harmony to achieve that though. Coin laundromats, cash only restaurants, runners, empty ass office buildings, international currency exchanges, literal bartering, stock exchange, etc over months and often times years. The amount of agencies, local, national, transnational that track any of those points of interest is almost always Atlanta thick too. Money? Tagged, tracked, sprayed, might even be irradiated. Weapons? Everything down to the ammunition and the shit used to clean it can be traced. Books? Some organizations are only in business because they've played both sides of the fences since prohibition. And even then many Halawas or exchange institutions just shift their positions within the chain on laundering to remain a key component in the process.

Seems like every 3 months there's a movie talking about how a Swiss bank account can make all the feds fall back. But obviously its not that simple. There is something much, much more simple and accessible for the kingpen down to the everyman though. A solution that's so far ahead of the potential regulations that MIGHT keep it reigned in that people who get screwed in its dealings are willing to treat it more like an occurrence of nature than an act of manipulation. fuck a RICO act

Its extraordinary how much time a dogecoin can shave will restoring profits. You compare that to a blood diamond or something and you may as well stop speaking in english lol

Jumped in, I used an OTC broker and bought a block for $1200 now at $1500 not sure how far this Japanese demand will take this, cashing in if it touches $1800, 50% gains is enough for me.

ethereum is going nuts

By Dark PhaZe Go To Postethereum is going nuts

Is this all off the back of the JP Morgan, Microsoft etc endorsements?

By Kidjr Go To PostIs this all off the back of the JP Morgan, Microsoft etc endorsements?

Those were a while ago so I think its just just general excitement and word of mouth pushing the price. Pretty much all of crypto went up so I think its new money coming in.

it's been super volatile today--apparently hit over 100 not long ago and is at 89 right now

By Dark PhaZe Go To Postit's been super volatile today–apparently hit over 100 not long ago and is at 89 right now

Basically what i said. For it to get anywhere near stability they need hundreds of thousands of transacctiosn a day.

By Dark PhaZe Go To Postit's been super volatile today–apparently hit over 100 not long ago and is at 89 right now

That's just the crypto market in a nutshell though. People have different points where they want to cash out at and 100 seems like where it was for a lot of people after an unexpected jump in price.

By giririsss Go To PostBasically what i said. For it to get anywhere near stability they need hundreds of thousands of transacctiosn a day.

It already has hundreds of thousands of transactions though.


Bitcoin has even more and it regularly has been jumping hundreds of dollars up and down a day lol. I think the volatility of the market will continue as long as its so niche. People are still buying in with expectations of 10x and 100x returns because there are so many people who have no idea that the entire market exists.

By Kidjr Go To PostJumped in, I used an OTC broker and bought a block for $1200 now at $1500 not sure how far this Japanese demand will take this, cashing in if it touches $1800, 50% gains is enough for me.

I know what I said but I thought it would take a few months to touch 1800, got to stay disciplined and cash out but I dont really want to tbh. Maybe I wont, but I should, help... I want to ride this wave of into the sunset.

Will hold out another week.

What a time to be Kidjr

anyone keeping an eye on tezos?

By Vlatko Go To PostBitcoin has even more and it regularly has been jumping hundreds of dollars up and down a day lol. I think the volatility of the market will continue as long as its so niche. People are still buying in with expectations of 10x and 100x returns because there are so many people who have no idea that the entire market exists.

If bitcoin wasn't niche, it would still be volatile. It's a shitty currency by design.

Shit has been going wild lately.

The first crash I experience is going to suck when all I've been doing is winning so far

Also phaze I just saw your question from way earlier. I'm only on GDAX because I'm not interested in the smaller coins. The eth ICOs have been tempting but I guess I just don't see the point on putting more money elsewhere at the moment

I think we're in a golden opportunity age here honestly. Wouldn't shock me to see ETH at 1k+ in a couple years time and XRP @ 100 in the same amount of time. Bitcoin will probably hit 5k by then as well. It's time to invest while most of the public is still unwise to all of this because eventually the market is going to be so large that new currencies are DOA and there's very minimal gain to investing in crypto.

Made a call to to bovada (sports betting) to inquire why a deposit didn't go through and they said I'm locked out for 24 hours, but said I can use bitcoin as well. I'm like wtf no thx.

this thing is literally becoming a race to invest before trump goes down

By Dark PhaZe Go To PostI think we're in a golden opportunity age here honestly. Wouldn't shock me to see ETH at 1k+ in a couple years time and XRP @ 100 in the same amount of time. Bitcoin will probably hit 5k by then as well. It's time to invest while most of the public is still unwise to all of this because eventually the market is going to be so large that new currencies are DOA and there's very minimal gain to investing in crypto.

This post is hilarious. It's proof beyond a shadow of a doubt that these aren't real currencies but rather speculative assets riding on a bubble. Now, mind you I don't think that means there isn't money to be made. There for sure is. Bubbles don't last though and while crypto might stick around, the long term viability of an actual crypto currency will require it to be inflationary by design and stable enough that people don't just hold onto their asset. I've been reading on Ethereum and it's another deflationary "currency". I"m going to use quotes, because if something is deflationary by design, i'ts a shitty fucking currency. Governments go to painstaking efforts to make sure their currency is stable. If I buy into a crypto simply to watch the little line rise, it is not a functional currency.

So what happens when that dude who owns a shit ton of BTC starts to sell? There is nothing propping up the value of these "currencies" other than the speculation about the "currency" themselves. When someone pulls out 2B from BTC, does the whole thing crumble like the Madoff Ponzi scheme. Because that's about what these things amount to. There's no government backing these currencies. There's more intrinsic value in gold since it's a good conductor.

I don't know that we're really disagreeing. I view crypto as a highly volatile asset but I see a significant room for growth before the bubble pops--thus my golden opportunity age remark.

By Dark PhaZe Go To PostI don't know that we're really disagreeing. I view crypto as a highly volatile asset but I see a significant room for growth before the bubble pops–thus my golden opportunity age remark.

I'm sorry if it seems like I was criticizing you, I'm not. Which is why I clarified that there's money to be made. I'm actually considering dropping a couple hundy on Ethereum because why the fuck not? It's only a couple hundy. In fact, I'll probably be sending you a PM on the subject soon.

These "currencies" interest me beyond the scope of investment though. An actual tech currency that provides some level of anonymity could be a positive thing. It's just that none of these currencies actually want to become a currency. If they did they wouldn't be deflationary by design.

It's an interesting catch 22 if you think about it. If you create a currency that people won't speculate on, it will be hard to drive interest and therefore the currency will have no value, intrinsic or true. So it seems that some level of speculation is needed to drive interest. When that happens though, the currency becomes an asset that's propping its value up on it's own. A goverment backed currency has immediate intrinsic value because it's backed by a state agency that has the power to sieze assets if you don't pay taxes in the form of said fiat currency.

Some Korean-Americans are making bank on ether right now. Since Samsung was announced as a member of the EEA its been trading at $50 more on Korean exchanges than US ones.

Most interesting new member to me was DTCC

In 2011, DTCC settled the vast majority of securities transactions in the United States and close to $1.7 quadrillion[3][4][5] in value worldwide, making it by far the highest financial value processor in the world.[5] DTCC operates facilities in the New York metropolitan area, and at multiple locations in and outside America.

https://www.forbes.com/sites/laurashin/2017/05/22/ethereum-enterprise-alliance-adds-86-new-members-including-dtcc-state-street-and-infosys-and/#71d2aff88ff2

By Fenderputty Go To PostThese "currencies" interest me beyond the scope of investment though. An actual tech currency that provides some level of anonymity could be a positive thing. It's just that none of these currencies actually want to become a currency. If they did they wouldn't be deflationary by design.

Some of them like Ether aren't primarily meant to be a currency and are more of a commodity. I think it actually is inflationary or at least will be at some point. Even the people most invested in bitcoin seem to accept it as a store of value right now because of its technological limitations as a currency. The only advantage it seems to have over similar coins is that its the original which I guess could be enough if the others don't differentiate themselves more.