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Cryptocurrency poll
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Created: by Big Mike Attachments:0

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Cryptocurrency poll

  #11 (permalink)
Elite Member
Atlanta, GA USA
 
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Skaddoosh View Post
Wouldn't that mean we are regressing in types of trade? When we had very little structure to the economy people traded cows for a tool or something like that.

That's a weird thought. If we accept something like that then wouldn't that mean rejecting our current economic structure?

I think that is the point behind the the crypto eco space. Disruption of the normal conventions.

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  #12 (permalink)
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not even started yet, just the beginning

IMHO, the huge wave has not even started yet...

a CME affiliate in London

https://www.cryptofacilities.com/derivatives/intro

and CME is offering crypto indexes

CF Bitcoin Real Time Index and Spot Price

here is an offshore exchange, great software AND Sierra Chart already is enabled (NinjaTrader, are you paying attention?)

www.bitmex.com

These are not for US citizens evidently, but then fortunately that land mass is not the whole world.

I long for the good old days of high volatility on CME, but now if you want to find that, look at Cryptos....that is where the liquidity is

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  #13 (permalink)
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SMCJB View Post
Obviously not all crypto's are the same, but with the current crypto's inorder for Grandma to use it for her groceries, the demand for the currency will have exploded, and since they can't just create new currency, the price will also have had to explode, so does that make it a ponzi scheme? Everybody making money off the last one in? Maybe not but hopefully I make my point.

Who knows, your guess is as good as mine.

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  #14 (permalink)
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My main contention with the crypto (and the main reason why i stopped trading them) is the endless shenanigans.

Since the crypto currency itself is created by a developer, it can be manipulated/hacked by another developer.

When i was involved in the community there were endless coin developers who insta-mined on the side and dumped the coin to zero.

Coins that had become flawed, developer disappears and got dumped to zero.

Various mining pools, and if not all the exchanges at one time getting hacked by people external or internal.

Mt Gox bitcoin debacle was nothing more then the owner of the exchange creating false transactions to pump up the price for his financial gain.

Most recently with ETH https://twitter.com/MrChrisEllis/status/887771718332416002

$80m taken so far in the Ethereum Parity wallet hack including the BAT token

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  #15 (permalink)
Seth
Salt Lake City, Utah
 
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The original premise of bitcoin as a currency that could eventually replace fiat is a fantasy of delusional libertarians that don't completely understand our complex monetary system based on debt, interest rates, and growth. In this respect cryptocurrencies are effectively worthless. Their volatility makes them unsuitable as a carrier of value, and much of their movement is based purely on manipulation. Without the gigantic players like those in equities and treasuries there is nothing to bring the market to balance. It takes longer for reality to settle in. Pump and dump is the name of the game, and eventually just as many people lose money as gain it in bitcoin. The run is over when new buyers willing to donate market cap disappear. Then the only thing to provide a floor is the cost of electricity.

However, blockchain technology itself is a revolutionary step forward in tracking and processing financial transactions. So in this respect we are only at the beginning stage of growth. Developments like smart contracts in Etherium, and large financial institutions starting to adopt the technology are significant investment opportunities. The key is to invest in the technology, and not insane financial theories.

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  #16 (permalink)
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TWDsje View Post
The original premise of bitcoin as a currency that could eventually replace fiat is a fantasy of delusional libertarians that don't completely understand our complex monetary system based on debt, interest rates, and growth. In this respect cryptocurrencies are effectively worthless. Their volatility makes them unsuitable as a carrier of value, and much of their movement is based purely on manipulation. Without the gigantic players like those in equities and treasuries there is nothing to bring the market to balance. It takes longer for reality to settle in. Pump and dump is the name of the game, and eventually just as many people lose money as gain it in bitcoin. The run is over when new buyers willing to donate market cap disappear. Then the only thing to provide a floor is the cost of electricity.

However, blockchain technology itself is a revolutionary step forward in tracking and processing financial transactions. So in this respect we are only at the beginning stage of growth. Developments like smart contracts in Etherium, and large financial institutions starting to adopt the technology are significant investment opportunities. The key is to invest in the technology, and not insane financial theories.

Agreed 100%

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  #17 (permalink)
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Agree - Just the Begining

There are multiple things going on with these cryptocurrencies. The acceptance of Bitcoin and Etherium in retail is growing daily. But also driving these things are the use of blockchain technology on a broader scale for use in corporate applications. Many of the crypto's are not exactly a currency but an investment in the adoption of blockchain technology. There are a number of well respected investment newsletters that are now recommending small investments (ie $100) in various crypto's which they believe will mushroom over the long term. For instance, Antshares is the only cryptocurrency approved by the Chinese government for commercial application. Based on a newsletter recommendation I put approx $200 into Antshares and it exploded to be worth 8 BTC at one point. It has since pulled back but I was able to take out about half (ie $8,000) and am letting the other half ride for the long term.

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  #18 (permalink)
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bschwar2 View Post
There are multiple things going on with these cryptocurrencies. The acceptance of Bitcoin and Etherium in retail is growing daily. But also driving these things are the use of blockchain technology on a broader scale for use in corporate applications. Many of the crypto's are not exactly a currency but an investment in the adoption of blockchain technology. There are a number of well respected investment newsletters that are now recommending small investments (ie $100) in various crypto's which they believe will mushroom over the long term. For instance, Antshares is the only cryptocurrency approved by the Chinese government for commercial application. Based on a newsletter recommendation I put approx $200 into Antshares and it exploded to be worth 8 BTC at one point. It has since pulled back but I was able to take out about half (ie $8,000) and am letting the other half ride for the long term.

Nice, well played!

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  #19 (permalink)
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another way of looking at crypto

think of exchange based cryptos like you would a futures contract, or a stock, then the idea becomes clearer

trade it, make money, don't keep a ton of value with any broker

keep any extra crypto in your own cold storage, like gold coins

take the profits in fiat and buy hard assets like real estate, small well managed businesses, etc

or, buy real estate direct with crypto...there are now escrow services that hold crypto instead of fiat

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  #20 (permalink)
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Incalculable risk


Any financial instrument which is isn't regulated is an incalculable risk. I would bet there is a lot of insider trading activity that can't be seen. And everyone who trades this crap is contributing to their profits. It's a sucker's market.

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