Official Cryptocurrency Thread: Skepticism to Speculation

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

  1. Guns

    Guns extreme lib, antifa commando
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    liquidated and bought a house cash
     
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  2. kinghill

    kinghill Well-Known Member
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    Are you saying coinbase is FDIC insured, with that analogy to Wells Fargo?
     
  3. Penguin The Duck

    Penguin The Duck #blessed
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    From coinbase

    “This insurance policy does not cover any losses resulting from the compromise of your individual Coinbase account. “

    not your keys, not your wallet

    you can also replace a hardware wallet and have your crypto wallets loaded on more than one hardware wallet

    You steal my hardware wallet, good luck getting my PIN and also installing Ledger Live and hacking that account, too.

    If you’re worried about the losing the private keys point, you should download Robinhood and stay out of crypto.
     
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  4. Penguin The Duck

    Penguin The Duck #blessed
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    Again, nothing wrong with Coinbase. Someone asked for the quicker and safer solution.

    Coinbase promises 98-99% of wallets to be secure at all times.

    Ledger had a data breach and 100% of the keys and wallets were/are secured. You’re the one in control of your wallet and keys, not some website.
     
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  5. kentucky_dawg

    kentucky_dawg Fan of: Georgia :\
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    So is Ledger the go-to cold storage wallet on here? Anyone dealt with setting up their own wallet? Was looking at this post earlier:
     
  6. mal630

    mal630 Well-Known Member
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    What do you guys think of VET and XLM? I have about $900 worth of it sitting in Binance that I forgot about. Are either worth holding or should I just convert to BTC or ETH?
     
  7. Penguin The Duck

    Penguin The Duck #blessed
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    I’ve just only used Ledger, they’ve been around a while. Plenty of options around now. It’s not difficult to setup at all.


    I’d move it, but you do you.
     
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  8. mal630

    mal630 Well-Known Member
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    Yeah I glanced at their subreddits, same old shit I remember from 3 years ago.
     
  9. user15000

    user15000 Well-Known Member

    I'd convert to btc because I think they all trend down in comparison long term.
     
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  10. Whammy

    Whammy Look kids, Parliament!
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    Alright - I’ve seen and read enough.

    Just set on Coinbase for roughly 1% of my income auto purchasing ETH and BTC every month. Just gonna set it and forget it. If there’s a huge dip (I’m sure there will be soon) will put in a larger chunk.

    Small potatoes investment and maybe I’ll regret not being a billionaire in 10 years but that’s all I’m willing to risk at this point
     
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  11. user15000

    user15000 Well-Known Member

    I know you’re already set up, but Swan has way lower fees for auto buying btc than Coinbase does. They don’t offer eth, but probably worth a look for you.
     
  12. Whammy

    Whammy Look kids, Parliament!
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    Yeah the fees do suck ass, I’ll look into that. Took about 90 seconds to set up so not pot committed

    Thanks
     
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  13. HuskerGuy99

    HuskerGuy99 Above Average Member

    Bitcoin Cash and Bitcoin SV are making gigantic moves today. Bitcoin SV up 60% today alone.

    The US government standards agency has called Bitcoin Cash "the real Bitcoin" before.

    Sinister thinking time: if you held Bitcoin before the Bitcoin Cash and Bitcoin SV forks, you essentially hold all three coins. Now if Bitcoin Cash and Bitcoin SV are actually superior blockchain technologies, what would be the best way to get rid of your old, inferior Bitcoin before moving on to the superior technology? Pump and dump?
     
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  14. HuskerGuy99

    HuskerGuy99 Above Average Member

    The man!
     
  15. burnttatertot

    burnttatertot (๏̯๏)
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    There's more than one bitcoin? Great, now I gotta figure out how to allocate my hate.
     
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  16. Whammy

    Whammy Look kids, Parliament!
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    How does Coinbase not have a personal Coinbase portfolio performance widget or something? Am I really supposed to collate every transaction I make in a spreadsheet, determine a blended cost basis and then compare to the current price?
     
  17. Whammy

    Whammy Look kids, Parliament!
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    Also user15000 do you use staking on Kraken? Thinking about transferring the ETH to Kraken and just let it earn....the "interest rates," are insane
     
  18. user15000

    user15000 Well-Known Member

    No. I don’t own any eth.
     
  19. HuskerGuy99

    HuskerGuy99 Above Average Member

    Wow you seriously do not own any of the best performing asset of 2020???

    ETH also continues to be on fire as it approaches all-time highs.

    *insert Bulls on Parade link*
     
  20. Whammy

    Whammy Look kids, Parliament!
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    You're schtick is getting old my guy and I'm not a pound the table crypto person.
     
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  21. HuskerGuy99

    HuskerGuy99 Above Average Member

    That's what the ignore button is for, my guy.
     
  22. Whammy

    Whammy Look kids, Parliament!
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    Done
     
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  23. user15000

    user15000 Well-Known Member

    Clicks show ignored content:

    Here’s a fact: eth’s all time high measured in btc is .15. It’s currently at .031 btc.
     
  24. Whammy

    Whammy Look kids, Parliament!
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    Think his comments are about growth, not market cap. Starting from a smaller base and BTC had a head start so not unexpected IMO.

    Had a buddy in college (2011) who had like 100 bitcoins and spent it all on the Silk Road. The pain in his voice, felt so bad for him. LMAO
     
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  25. user15000

    user15000 Well-Known Member

    Eth was launched like mid-2015. It’s btc high was early 2018 iirc. So I don’t really view it as a growth or early launch issue. Not like it has been gaining in btc terms since 2015.
     
  26. HuskerGuy99

    HuskerGuy99 Above Average Member

  27. HuskerGuy99

    HuskerGuy99 Above Average Member

    This is what user15000/HarrisonBecks and his ilk call COPE. He has posted multiple times that blockchain is worthless and only Bitcoin has value. He has also posted multiple links to tweets claiming Bitcoin is the best performing asset of 2020 when the facts clearly say otherwise. He is not one to take at face value, which is why we clown him.
     
  28. dblplay1212

    dblplay1212 Well-Known Member
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    Not trying to get involved with the back and forth between you guys but I think his argument is ETH is up 800% over the last year while BTC is only up 400%.
     
  29. Harrison Beck

    Harrison Beck Rut Roh maximalist
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    This is the correct take. BTC and ETH are two completely different value props and have both been great investments. And to the ignored user making shit up, I've been pretty open about my strategy of buying both. :feelsgoodman:
     
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  30. user15000

    user15000 Well-Known Member

    And in the last 2 years it’s down, and in the last 3 years it’s down like 65%, etc.

    I get that eth is up more in the last year. It’s not remotely close to being at an ath compared to btc, and I think the risk profile of eth is much higher and way more akin to gambling :shrug: Public companies and massive institutions are not allocating hundreds of millions or billions to eth right now nor is the use case nearly as clear.

    Some random alt coin might go up more in dollar terms in a month, 3 months, etc. Plenty have in the history of crypto. That’s a silly and disingenuous framework through which to view the space.
     
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  31. dblplay1212

    dblplay1212 Well-Known Member
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    Like I said, not getting in the middle of it. Was just stating his argument.
     
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  32. burnttatertot

    burnttatertot (๏̯๏)
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    I watched a couple bitcoin videos trying to figure out what it is and now youtube wont leave me alone about it. Is there a way to stop the onslaught of bitcoin recommendations?
     
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  33. southside

    southside Well-Known Member
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    Yes. It's a joke.
     
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  34. southside

    southside Well-Known Member
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    Look at BlockFi as well
     
  35. user15000

    user15000 Well-Known Member

    The Blockfolio app works for this if you’re willing to enter your transactions.
     
  36. Harrison Beck

    Harrison Beck Rut Roh maximalist
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    Delta is another option, I believe you can even log into some exchanges and they self track everything for you through these apps.
     
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  37. user15000

    user15000 Well-Known Member

  38. HuskerGuy99

    HuskerGuy99 Above Average Member



    How's Coinbase working today for those on it?
     
  39. Harrison Beck

    Harrison Beck Rut Roh maximalist
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    No longer idiots like me buying the dip. It’s institutions. Act accordingly
     
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  40. user15000

    user15000 Well-Known Member

     
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  41. Harrison Beck

    Harrison Beck Rut Roh maximalist
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  42. Nelson

    Nelson Can somebody please get Ja Rule on the phone
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    When I was like 18 I had a buddy’s older brother mining when the price in USD, like, didn’t exist. There wasn’t even a cognizable market for BTC.

    He explained it to me and was like “Hey man you want one?”

    me: “no I’m good, it’s cool though”
     
  43. HuskerGuy99

    HuskerGuy99 Above Average Member

    I'll take liquidity for $1000, Alex.
     
  44. HuskerGuy99

    HuskerGuy99 Above Average Member

    You lookin' like a genius right about now, son. Enjoy the new digs.