Official Cryptocurrency Thread: Skepticism to Speculation to FIGHT! FIGHT! FIGHT!

Discussion in 'The Mainboard' started by Nantucket, Jan 29, 2017.

  1. THF

    THF BITE THE NUTS, THUMB IN THE ASS!
    Donor
    Arkansas RazorbacksSan Francisco GiantsOklahoma City ThunderDallas CowboysSan Francisco 49'ersMontreal Impact

    I think I figured it out that it had to run non stop for at least half a year to break even on the equipment cost. Maybe a little longer.

    Counting equipment cost that doesn’t sound too far off. But I am curious if they mean mining btc it’s self or mining a btc worth of some other coin. There are machines designed specifically for mining btc which are so much faster than any GPU out there. ASICs are just insane. So I don’t even try.

    Most are mining ETH now bc its profitable.
     
    HuskerInMiami and letan like this.
  2. PaulKemp

    PaulKemp Well-Known Member
    Donor TMB OG

    Right, but at some point people are going to want to buy lotto tickets, Mad Dog 20/20, and dildos... or pay under the table labor like babysitters/dogsitters etc without having an entire publicly viewable transaction trail. The more I learn about it, the more compelling I find the case for it, even for big money:



    Also you and user15000 prevented me from buying it a week ago, you jerks. haha. I'm not a total gambling type, so I'll continue to put most of my crypto stash into BTC/ETH, but I'm going to leg into Monero as my #3. Maybe it's naive, but I really believe in the project conceptually.
     
    HuskerInMiami and Harrison Beck like this.
  3. Harrison Beck

    Harrison Beck Rut Roh maximalist
    Donor
    Liverpool

    I agree with pretty much everything you’re saying. The regulatory stuff is the only thing that worries me. If you want to live your life on crypto its possible that doesn’t matter... Idk. I don’t want to give the wrong impression on Alts either. I think it’s one of the best ways to get more btc but if you are just starting it’s kind of important to build up your btc and at least understand that first. Jmo and my experience. Sounds like you did your homework that’s about all you can do.
     
    PaulKemp likes this.
  4. Corky Bucek

    Corky Bucek Placeholder for a Custom Title
    Staff Donor TMB OG
    Auburn TigersLos Angeles LakersLos Angeles RamsAnaheim DucksManchester UnitedLos Angeles Angels of AnaheimPoker

    Litecoin to the moon

    I bought some earlier this week and it's now at $220+ what's the board's opinion on LTC?
     
    Hatfield and like this.
  5. user15000

    user15000 Well-Known Member

    I’ll only ever tell people to buy btc, so I’m a bit of a broken record. I get the use case for Monero, but governments are far more likely to ban the on/off ramps for that and it won’t ever gain institutional adoption.
     
    PaulKemp likes this.
  6. user15000

    user15000 Well-Known Member

    Rough price estimate for this dumb, conspiracy backed, pyramid scheme, ponzi, criminal money laundering asset class with no intrinsic value to hit the $1 trillion mark.

     
    Harrison Beck and PaulKemp like this.
  7. Whammy

    Whammy Look kids, Parliament!
    Donor
    Alabama Crimson TideVanderbilt CommodoresNew Orleans SaintsChicago BlackhawksAtlanta United

    Tell us how you really feel :old:

    Seriously though congrats, I know you’ve taken a lot of shit over the years and I’m sure that milestone would bring a lot of personal vindication.

    Hope you become a billionaire and hope it doesn’t collapse again lol. It’s been fun dipping my toe in the water.
     
    HuskerInMiami, PaulKemp and user15000 like this.
  8. user15000

    user15000 Well-Known Member

    $50k is a fun milestone and $1 trillion is important because then it’s big enough for things like pension funds, sovereign wealth funds, etc to start paying attention to. As it goes up, it draws more investors, which is a fun characteristic.

    I don’t really care about people giving me shit. I’ve heard and read all of the btc criticism. At the end of the day, I made a bet. It’ll either be right or wrong. If I’m right, I retire soon. If I’m wrong and it goes to zero, I work another 20 years.
     
    letan, jham23, Harrison Beck and 3 others like this.
  9. PaulKemp

    PaulKemp Well-Known Member
    Donor TMB OG

    I hear you as well. The regulatory concerns are legitimate, and I see a lot of hand waiving regarding the issue from the Monero community. I mean they’re addressing it from a tech standpoint with Atomic Swaps, but being universally delisted is terrible for adoption purposes in the near term. The power of usability (from a UX perspective) cannot be overstated.

    My hope is that awareness and common sense overcomes fear at some point, but BTC will probably have to win its war first. If it does, I think a lot of eyes turn to Monero as it’s actually what the general public thinks they’re buying now in BTC or even fake privacy coins. It’s what I would want to use for exchange. But hey, better tech doesn’t always win. History is littered with examples, and I’ll probably be dead before I can’t pay my babysitter in USD anyway. For the future’s sake, I hope it or something similar eventually wins though.
     
    HuskerInMiami and Harrison Beck like this.
  10. Harrison Beck

    Harrison Beck Rut Roh maximalist
    Donor
    Liverpool

  11. user15000

    user15000 Well-Known Member

    I’m 15 min into this, but he still doesn’t get it.
     
  12. Harrison Beck

    Harrison Beck Rut Roh maximalist
    Donor
    Liverpool

    In regards to bitcoin, no he does not. He’s still stuck on it being a currency. Interesting listen none the less. He’s very knowledgeable about defi and nfts.
     
    #11962 Harrison Beck, Feb 14, 2021
    Last edited: Feb 14, 2021
    user15000 likes this.
  13. kennypowers

    kennypowers Big shit like a dinosaur did it
    Donor TMB OG
    UCF KnightsAtlanta BravesJacksonville Jaguars

    Reloading on this current dip :badger:
     
    Harrison Beck likes this.
  14. HuskerInMiami

    HuskerInMiami Well-Known Member
    Donor
    Miami DolphinsNebraska Cornhuskers

    Where would you say public sentement for crypto is right now? I feel like it's been tearing, but I haven't heard anyone talk about it other than people talking about Doge Coin (is it pronounced dough-jeh or Doggie?) randomly. I also work somewhere different than the last run 4 years ago, so not sure if that's why talk is different.
     
  15. beerme

    beerme Well-Known Member
    Donor
    Penn State Nittany LionsNew York YankeesGreen Bay Packers

    This is so foreign a concept it’s never going to get a high rate of adoption from anyone over 50-60, but it’s been getting more main stream. Lot of people still think it’s all a scam though. The thing that brings me to it is it becoming institutionalized
     
  16. Whammy

    Whammy Look kids, Parliament!
    Donor
    Alabama Crimson TideVanderbilt CommodoresNew Orleans SaintsChicago BlackhawksAtlanta United

    Still far from mainstream, most of my friends still think it’s a joke
     
    , HuskerInMiami and Harrison Beck like this.
  17. Tigers

    Tigers Admin of the Year 2011-2014
    Donor TMB OG

    We thinking BTC comes back down a bit? Kicking myself when I saw it at $29k inter-day a few weeks ago and didn't jump. Just keep expecting it to come back down like it did a few years back when it first hit $20k. I feel like this all related to the $GME frenzy- it got some many new people on Robinhood who are now trying to find anyway to make it rich quickly- crypto included. Has to slow down eventually?
     
    Whammy likes this.
  18. kennypowers

    kennypowers Big shit like a dinosaur did it
    Donor TMB OG
    UCF KnightsAtlanta BravesJacksonville Jaguars

    Some shenanigans last night with BTC. Massive sell offs and subsequent buys.
     
    , HuskerInMiami and letan like this.
  19. wes tegg

    wes tegg I'm a Guy's guy, guys.
    Staff Donor
    Atlanta BravesDenver BroncosChicago BlackhawksMississippi Rebels

    It and ETH both had significant drops at about 8:20 last night. They've both since rebounded.
     
    HuskerInMiami likes this.
  20. kennypowers

    kennypowers Big shit like a dinosaur did it
    Donor TMB OG
    UCF KnightsAtlanta BravesJacksonville Jaguars

    Someone needed to pull $160MM from their bank...

     
    HuskerInMiami likes this.
  21. user15000

    user15000 Well-Known Member

    This will come as a surprise to no one, but i'm the btc person in my friends/family group. I've seen a noticeable uptick in interest from friends. I have a college buddy who just put 10% of his portfolio into btc and is now buying monthly. I have a work colleague who is trying to get to $250k invested. My parents have bought more gbtc and btc recently.

    But I don't think this is reflective of the general public sentiment. More people have been drawn in with the higher price, but I still think it's a fringe thing that most aren't paying attention to. Tesla was big news, but it's only the first SP500 company. I still know of plenty of people chasing after DOGE, ADA, and other random stuff that is the equivalent of the 2017 ICO boom. This is all anecdotal and kind of rambling, but I don't think people start truly paying attention until it hits $100k.

    I cannot predict anything short-term, but I think it would be a mistake to think that this is similar to the $20k top in 2017 and the subsequent drop. BTC has traditionally moved in 4-year cycles post-halvings in 2012, 2016, and now 2020. The equivalent 2017 peak and drop would not occur until late 2021/early 2022 (if it occurs at all).

    So short-term, I have no clue what the price does. But i do think we're in the middle of a bull run for the rest of this year. I am not a trader, cannot time the "top," don't want to pay taxes on gains, and eventually think that this reaches the point where the bear markets are less pronounced or don't happen, so I won't be looking to sell any time soon.
     
    HuskerInMiami and Harrison Beck like this.
  22. user15000

    user15000 Well-Known Member

    Some charts showing where we are in comparison to previous cycles

     
    Oranjello and Harrison Beck like this.
  23. Harrison Beck

    Harrison Beck Rut Roh maximalist
    Donor
    Liverpool

    Anyone else messed around w/ NBA Top Shot? They have another pack drop happening shortly
     
  24. Hatfield

    Hatfield Charlie don’t surf
    Donor
    South Carolina GamecocksWashington NationalsFulhamTiger WoodsGrateful Dead

    Hadn't heard of that and just poked around on their website. Is it highlight collecting/trading?
     
  25. Harrison Beck

    Harrison Beck Rut Roh maximalist
    Donor
    Liverpool

    Yes, It's terrible. I finally got my hands on a pack tonight though.
     
    HuskerInMiami and like this.
  26. HuskerInMiami

    HuskerInMiami Well-Known Member
    Donor
    Miami DolphinsNebraska Cornhuskers

    I had accounts on binance, bittrex, and Coinbase where it had less than 10k worth of coins at the time of the last run up, but I forgot the username and the token accounts (or whatever is called) w the long chain of numbers/letters.

    I just had a dream and remembered when I was in college and bought some Bitcoin when gambling (left it on there in case I ever wanted to gamble again) and then some on that .onion site where you could buy shrooms and molly. On that site I put like $50 of Bitcoin on it and then wussed out purchasing and just left it on there. I assume that is gone now right? There was a thread on tmb a long ass time ago. Maybe 2011 about dark web and I bought some BTC through a diff sketchy site linked in that thread w some of my poker earnings. I know It was before Black Friday in poker (April 15 iirc) because I bought like $1,000 in BTC on some random exchange.

    anyway in my dream I remembered that I wrote the codes do the first 3 accounts mentioned and put them in this plastic drawer thing I had in college that was in the back corner of my closet. I just woke up and dug through the back of my closet and found the plastic container. In it was 3 old business cards w a Coinbase, bittrex, and two binance long code things. Now I’m trying to figure out if the betting site was BoDog or something like that to see if I have any on there.

    I dream a lot, but haven’t really every dreamed about BTC and it’s crazy how it led me right to these 3 cards I’ve been looking for (I didn’t remember it was on 3 spectate cards).

    long ass post I’m sure no one cares about. But crazy when dreams help remember stuff.
     
    #11976 HuskerInMiami, Feb 16, 2021
    Last edited: Feb 16, 2021
  27. Whammy

    Whammy Look kids, Parliament!
    Donor
    Alabama Crimson TideVanderbilt CommodoresNew Orleans SaintsChicago BlackhawksAtlanta United

    Sooooo - are you Bezos rich or merely Gates rich
     
  28. user15000

    user15000 Well-Known Member



    Will use all of it to buy btc per the release.
     
  29. user15000

    user15000 Well-Known Member

  30. user15000

    user15000 Well-Known Member

    Anyone thinking of making any investment into btc, might be wise to front run the $600m from Saylor.

     
  31. dblplay1212

    dblplay1212 Well-Known Member
    Donor TMB OG
    Alabama Crimson TideNew York YankeesJacksonville JaguarsSneakers

    Bovada is probably the betting site.
     
    HuskerInMiami likes this.
  32. user15000

    user15000 Well-Known Member

  33. Aurelius

    Aurelius This man, Lenny Pepperidge, AKA Lenny the Pep...
    Donor
    Nebraska CornhuskersCleveland BrownsCrystal PalaceCleveland CavaliersCleveland IndiansPGANebraska Cornhuskers alt

    CNBC has been laughing at BTC for almost 10 years and now they're speechless :roll:
     
    user15000 likes this.
  34. Ray McKigney

    Ray McKigney Feel my ubiquity
    Donor
    South Carolina GamecocksAtlanta BravesCarolina Panthers

    So, got bored today and read the last 8 pages or so of this thread.

    Is buying crypto as simple as getting Coinbase (or whatever equivalent) and then just going for it? Do I need a cold or hot wallet? Any tips for a moron such as myself?
     
    Harrison Beck likes this.
  35. user15000

    user15000 Well-Known Member

    Yes it’s as simple as buying at Coinbase or kraken or Gemini. Wallet is safest but probably depends on how much you’ll have.

    ledger, Trevor, or coldcard are fine for storage.
     
    Aurelius and Ray McKigney like this.
  36. user15000

    user15000 Well-Known Member

  37. Harrison Beck

    Harrison Beck Rut Roh maximalist
    Donor
    Liverpool

    What happens when every company realizes they can/should do this in some capacity?
     
    user15000 and like this.
  38. user15000

    user15000 Well-Known Member

    I suspect this is rhetorical, but if/when that happens, the market cap will be well over $10T.
     
    Harrison Beck likes this.
  39. PaulKemp

    PaulKemp Well-Known Member
    Donor TMB OG

    https://finance.yahoo.com/news/coinbase-readying-public-listing-gets-134221206.html

    Coinbase 77bil valuation ahead of IPO

    Cryptocurrency exchange Coinbase, which is preparing to trade publicly in the next few months, is being valued at $77 billion, based on trading of the company’s privately held shares on a secondary market.

    Those shares in the largest crypto exchange in the U.S. are changing hands on the Nasdaq Private Market at $303 a piece, according to two people with knowledge of the auction. That implies a total company value of about $77 billion – greater than Intercontinental Exchange Inc., the owner of the New York Stock Exchange.

    “The third weekly transaction closed on Friday and the clearing price was $303 a share,” said a source. “The first week it was 200 bucks a share, the second week it was $301 a share, and the third week it was $303 a share. So you can kind of see price discovery happening.”

    Coinbase declined to comment.

    The Coinbase private market is running an anonymous order book ahead of the company’s direct public listing, a date for which is still unknown. The sale allows current and former employees, as well as investors in Coinbase, to take some cash off the table. Around 254 million shares in Coinbase will be outstanding and available to trade when the firm goes public, according to sources with knowledge of the offering.

    Coinbase pre-IPO futures contracts were trading on crypto derivatives exchange FTX at about $386 at the time of writing.

    Coinbase goes big
    Hopes for Coinbase’s public listing are riding high within the crypto community, especially as the price of bitcoin continues to reach above $50,000. (More will be revealed about Coinbase’s finances when the confidential S-1 it filed with U.S. Securities and Exchange Commission is made public in the coming weeks.)

    Related: Waitlist for Ethereum 2.0 Staking Now Live on Coinbase

    Countering such great expectations is the argument that the valuation of 100% of a company could be very different than the valuation of half a percent of its shares.

    However, the secondary selling of shares sponsored by Coinbase over the past three weeks has seen “meaningful amounts” change hands, according to a source.

    “It’s not like a handful of shares being exchanged at $300 a share. Each week it’s tens of millions of dollars, a pretty sizable amount,” said the source.
     
  40. user15000

    user15000 Well-Known Member

  41. user15000

    user15000 Well-Known Member

  42. HuskerInMiami

    HuskerInMiami Well-Known Member
    Donor
    Miami DolphinsNebraska Cornhuskers

    What do I take from this?
     
  43. HuskerInMiami

    HuskerInMiami Well-Known Member
    Donor
    Miami DolphinsNebraska Cornhuskers

    Why is AAVE down this week?
    I’m putting in 1k Friday into something and I’m not sure if I should just go all BTC or spread it out. I already diverted from my initial plan of ~500 BTC and 500 in others.

    Update on my long ass post. I tried logging into my binance, bittrex , and old Coinbase and couldn’t get in. I’ve been slammed at work and will attempt again tomorrow. I did password reset emails/texts but didn’t get any. I was hoping it just took time...but more than 24 hours later and I haven’t gotten anything. Trying betting site again tomorrow after locking myself out.
     
    PaulKemp likes this.
  44. letan

    letan Just looking for the gator board
    Donor
    Real MadridJacksonville JaguarsFlorida GatorsTampa Bay Rays

    btc good. other coins bad?
     
    likes this.
  45. Harrison Beck

    Harrison Beck Rut Roh maximalist
    Donor
    Liverpool

    lol zoom out it’s up like a billion percent