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  1. #1 Crypto is back... 
    eeeevil Sith Admin SarasotaRepub's Avatar
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    I don't know how many of you follow
    Crypto but things are heating up again.

    Bitcoin has pushed past 5K, it's hanging
    around that price.

    XRP is spiking, .35 tonight...
    May the FORCE be with you!
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  2. #2  
    Senior Member Tecate's Avatar
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    Iíve always been afraid of the extreme volatility, but that can be to the upside as well. Buy low, sell high.
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  3. #3  
    eeeevil Sith Admin SarasotaRepub's Avatar
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    XRP is now .368

    May the FORCE be with you!
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  4. #4  
    Senior Member Tecate's Avatar
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    My step brother still has 20 bitcoins that he bought for $5 each. He was an early adopter. He used some to pay for his house, and some were hacked and stolen from him. When bitcoin got to $20K I told him to dump them all and he can always buy back in later. He didnít do it. The little shit has more money than all of us put together.
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  5. #5  
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    I like the idea of a medium of exchange which is not controlled by government and is capable of private transactions online but Bitcoin ain't it. It's 10 years old and there is no stability in value in sight. Sane transactions require that a buy-send-sell be done quickly and even then it's a crapshoot if the recipient will end up with more of less of what he is due.

    I've often wondered if it could be pegged to the price of gold. If the market price of CryptoToGold rises the mining difficulty would automatically be adjusted down. If the market price of CryptoToGold falls the mining difficulty would automatically be adjusted up. The exchange rate could be kept in a fairly narrow band and it would be safe to hold Crypto for extended periods of time. The big problem would be how to AUTOMATICALLY implement these tweaks without having an external "trusted" overseer.
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  6. #6  
    eeeevil Sith Admin SarasotaRepub's Avatar
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    Quote Originally Posted by Tecate View Post
    My step brother still has 20 bitcoins that he bought for $5 each. He was an early adopter. He used some to pay for his house, and some were hacked and stolen from him. When bitcoin got to $20K I told him to dump them all and he can always buy back in later. He didnít do it. The little shit has more money than all of us put together.
    Hopefully your step brother has moved his Bitcoins to a
    a Hardware Wallet like the Ledger Nano S. That is where
    I keep my Crypto. It's a crime he lost some in a hack and
    that is why he should use cold storage like a Nano S.

    Look into XRP.
    May the FORCE be with you!
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  7. #7  
    Senior Member Tecate's Avatar
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    Quote Originally Posted by old dog View Post
    I like the idea of a medium of exchange which is not controlled by government and is capable of private transactions online but Bitcoin ain't it. It's 10 years old and there is no stability in value in sight. Sane transactions require that a buy-send-sell be done quickly and even then it's a crapshoot if the recipient will end up with more of less of what he is due.

    I've often wondered if it could be pegged to the price of gold. If the market price of CryptoToGold rises the mining difficulty would automatically be adjusted down. If the market price of CryptoToGold falls the mining difficulty would automatically be adjusted up. The exchange rate could be kept in a fairly narrow band and it would be safe to hold Crypto for extended periods of time. The big problem would be how to AUTOMATICALLY implement these tweaks without having an external "trusted" overseer.
    I feel the same way. Imagine ordering a $25 steak in a restaurant and by the time you finished eating it, the price went to $100? Iíll have the check, please.
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  8. #8  
    Senior Member Tecate's Avatar
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    Quote Originally Posted by SarasotaRepub View Post
    Hopefully your step brother has moved his Bitcoins to a
    a Hardware Wallet like the Ledger Nano S. That is where
    I keep my Crypto. It's a crime he lost some in a hack and
    that is why he should use cold storage like a Nano S.

    Look into XRP.
    That was several years ago when almost no one knew anything about Bitcoin. He has long taken care of that situation, but damn, the money that he lost just makes me sick!
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  9. #9  
    eeeevil Sith Admin SarasotaRepub's Avatar
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    Quote Originally Posted by Tecate View Post
    That was several years ago when almost no one knew anything about Bitcoin. He has long taken care of that situation, but damn, the money that he lost just makes me sick!
    Lots of stories like that. There were people that
    had hundreds of bitcoin on software wallets and
    just deleted them thinking bitcoin was just a fad.

    Those coins are gone! What a bummer...
    May the FORCE be with you!
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  10. #10  
    Senior Member Tecate's Avatar
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    Quote Originally Posted by SarasotaRepub View Post
    Lots of stories like that. There were people that
    had hundreds of bitcoin on software wallets and
    just deleted them thinking bitcoin was just a fad.

    Those coins are gone! What a bummer...
    Iíll make it a point to get more specific details from him and bring them back here.
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