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Thread: Bitcoin

  1. #373

    Join Date
    Jun 2004
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    In Your Imagination...
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    4,352

    Thumbs up Re: Bitcoin

    As we all know, an informed speculator or investor is an educated/smart one. Before buying any type of cryptoasset, I need to first wrap my mind around Bitcoin (with a capital B), bitcoin (with a small b), Bitcoin's blockchain, and blockchain itself as a general purpose technology.

    I am now reading:

    "Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond" By, Chris Burniske & Jack Tatar (2018, McGraw-Hill)

    I'm only on chapter 4, and am nearly convinced that the future of money is here. Oh, how The Fed must be shaking in its boots with the advent of a decentralized currency! Just to keep up, The Fed is all but guaranteed to issue its own cryptocurrency:

    https://news.bitcoin.com/fedcoin-u-s-issue-e-currency/

    Now is the time for the rebels to figure out how to create a stable-price version of bitcoin, before Darth Vader does it himself. Otherwise they may someday find themselves closing down their bitcoin startups in order to write code for the Empire.

    What the feds can do is cryptocurrency; Fedcoin is what’s coming to a start. And, according to Casey, the primary benefit to government would be a centralization of supply and a transparency of demand (or transactions), which could centralize control of the economy to an unprecedented extent.

    Why would people use the cryptocurrency? Fedcoin would almost certainly emerge as a parallel currency which would be adopted due to government requirements for its use in paying taxes or accessing entitlements such as Social Security. Increasingly, however, Fedcoin would become a tool to push toward a cashless society because physical money provides a privacy that prevents government control.

    With blockchain….[the feds] know exactly who’s getting the money and what it’s being spent for. It can be programmed [perhaps through a mechanism simiar to smart contracts] so that certain transactions can’t take place….So you are pretty well blocked in.”

    Fat people could be prevented from buying sugar; gun owners could be cut off from ammunition; teenagers could be banned from buying beer, cigarettes or video games. The possibilities seem almost infinite. In doing so, Fedcoin would merely extend existing policies under food stamp programs that prohibit spending on alcohol, casinos or strip clubs. The efficiency would be so much greater, however, that the difference of degree would become one of kind. The government could “prohibit anything without even passing a law….If your Fedcoin smartphone or chip isn’t programmed to let you buy that, how are you going to get it?” Politically controversial items, like a gun registry, could become irrelevant.

    Whether governments will succeed is not clear; they may be thwarted by their own incompetence or by the intrinsic decentralization of cryptocurrencies. It seems clear, however, that governments will make the attempt. And when they do, the best response is a better technology that sprints forward and leaves those who wish to ‘tame’ it coughing on its dust.

    Those on the cutting edge of technology are today’s freedom fighters.
    This is going to get very interesting.
    "Treat your wife with honor, respect, and understanding as you live together so that you can pray effectively as husband and wife." 1 Peter 3:7

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  3. #374

    Default Re: Bitcoin

    $19,000 printed on Gdax about 15 minutes ago. It was fun to watch.

    Power to the people!

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  5. #375

    Join Date
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    Default Re: Bitcoin

    Finally got my first bitcoin. Mined it myself!

    my first bitcoin.jpg

    (it's a little fake token I bought on eBay for $2!)

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  7. #376

    Default Re: Bitcoin

    Can we hit 20k this week?

  8.  
  9. #377

    Default Re: Bitcoin

    Quote Originally Posted by bmneveu View Post
    Finally got my first bitcoin. Mined it myself!

    (it's a little fake token I bought on eBay for $2!)
    Nice! LOL - only $2? They are actually going down in price, unlike their real friends.

    We've been offering them as prize options to our contest winners.

    http://www.tsptalk.com/mb/contest-pr...tml#post582279
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

  10.  
  11. #378

    Join Date
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    Default Re: Bitcoin

    Quote Originally Posted by tsptalk View Post
    Nice! LOL - only $2? They are actually going down in price, unlike their real friends.

    We've been offering them as prize options to our contest winners.

    http://www.tsptalk.com/mb/contest-pr...tml#post582279
    Hey, cool! Sorry, I've been out of the loop lately. Didn't know you were offering them as a prize. Yea I found it on eBay for around that price. I think they cost a little more on Amazon, but you could probably get them shipped quicker with them.


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  13. #379

    Join Date
    Jun 2004
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    Boiled Peanut, Georgia, USA
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    64,148

    Default Re: Bitcoin

    Bitcoin is a 'social experiment,' says 'Wolf of Wall Street' Jordan Belfort

    Published December 18, 2017 Bitcoin FOXBusiness

    Video:

    Bitcoin is a 'social experiment,' says 'Wolf of Wall Street' Jordan Belfort | Fox Business
    1/22/2021
    LS CRUDE Oil
    =$52.27 a Barrel, Daily Status -$.86

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  15. #380

    Default Re: Bitcoin

    Yeah! Coinbase / GDAX is now trading Bitcoin Cash. I have an address for 1 (I think) from the fork in the fall, so I'll finally be able to see if it actually worked. Of course coinbase is being inundated right and the site is slow / DOA now and it seems the other cryptos are selling off on the news. Buying opportunity?

    We’re happy to announce that Bitcoin Cash (BCH) is now listed and available for trading on GDAX.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

  16.  
  17. #381

    Default Re: Bitcoin

    Bitcoin Cash just shot up to $9500. It started the day near $3000. I wish I could figure out how to get mine from a paper wallet onto GDAX.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

  18.  
  19. #382

    Default Re: Bitcoin

    Quote Originally Posted by tsptalk View Post
    Bitcoin Cash just shot up to $9500. It started the day near $3000. I wish I could figure out how to get mine from a paper wallet onto GDAX.
    Looks like $9500 may be a mistake. Not sure. GDAX has it that high but coinbase still shows $3100.

    FYI, if you held bitcoin during the Aug 1 fork you may have an equal amount of bitcoin cash - if you still have that private key written somewhere. I figured out how to get mine on coinbase / GDAX from my paper wallet.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

  20.  
  21. #383

    Join Date
    May 2012
    Location
    Ohio
    Posts
    89

    Default Re: Bitcoin

    Saw bitcoin cash hit $9500 on Coinbase when buying was suspended. Bought on Bitstamp for $3670, we’ll see... so far, not working out. Bought more XRP on speculation it’ll be add to Coinbase first quarter 2018.


    Sent from my iPad using Tapatalk

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  23. #384

    Default Re: Bitcoin

    I just stepped in front of the free-falling cryto-train and bought some bitcoin for 14,175.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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