If emotional trading hurts you with stocks then it will destroy you with crypto.

https://www.cnbc.com/2017/12/20/man-lost-127-million-worth-of-bitcoins-and-city-wont-let-him-look.html?recirc=taboolainternal

This is pretty funny. This goober actually sells his old laptop in parts on EBay so you know he’s one of those guys yet he actually throws away the hard drive because he was doing house cleaning? I mean I can’t imagine throwing away a HD because they really don’t take up much space.

Suppose he could have thrown it away on accident like it was in a box of crap but still he’s s moron and to think he can find it within 350 tons of old garbage is amusing.

for $127 million it's worth the one-in-a-million shot of looking.

Should work out a 50/50 deal with city

Good! I hope they do. It's gotten a little beyond carried away with the ICO's...and everyone adding "Blockchain" to their name as a total money grab.

"Ledger X Trader Pays $1M to Peg a Bitcoin-Based Futures Contract at $50,000 for December 2018"

https://news.bitcoin.com/a-ledger-x-bitcoin-contract-is-pegged-for-50k-amid-this-weeks-price-decline/

"According to Ledger X, the long-term trade was the “first of its kind” held on the exchange for a sum that large. The Wall Street Journal details the trader had to put up $1 million USD to purchase the long bet, and if the price of bitcoin is below the $50K on that specified date, the investor will lose that money."

Now that's gambling! Gotta love it.

people do the same shit on the stock market. are people really under the impression speculation and gambling don't take place all over wall street?

looks like bitcoin is stabilizing / recovering. it needed a dip. anyone who bought in more than a few days ago is still way up i think.

That's true...but I would still consider Bitcoin to be far more speculative than soybeans or pork bellies...especially that far out and that big of a prediction. Maybe I'm way off.

Of course if the price goes above $50,000 on that date he/she/they stand to make many X their 1 million.

Oh for sure! Their just not playing with their own money. They earn multi million dollar bonuses for gambling with your and my pension funds...

uamu9uzcgvlxxs4femfb (resized).jpg

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ugh trend analysis is 1000% bullshit. drawing lines and assigning fancy names to dips and peaks is no more predictive than reading tea leaves. pseudo-scientific pseudo-logic.

I didn't say that at all. It is being used for money laundering and various other criminal activities though, and that's a big part of the popularity. I'm no expert, but I'm guessing the DEA has a few. Have a read....

https://www.dea.gov/docs/DIR-040-17_2017-NDTA.pdf

Here we go again, the Bitcoin is for drug smugglers and human traffickers. Oh wait, that’s cash too and gold according to the document you referenced.

You should probably just give up all your valuables if you’re worried about anything being used for illegal purposes.

Also, the document you linked to doesn’t reference one single statistic or BTC value. It just says that it is used, not how much.

Poppycock

I would classify speculation in Bitcoin as a pure gambling activity. Just look at the daily price swings. Can anyone look ahead just a day, week, month, quarter, and project the price of Bitcoin within any level of confidence? Of course there are plenty of people in the futures market that hope to get this right, ha! And this guy bets $1 million a year out. It is very exciting to watch this whole wave of cryptocurrency speculation unfold right before our eyes.

And what is the preferred currency for ransomware payment? Bitcoin....

So you think it is an insignificant amount? I don't think so.

this logic makes me think of homer at the bat

"From New york city huh? I heard some guy got murdered in NY and they never solved the case, but you wouldn't know anything about that?"

Yes, I'm sure many illegal activities involve bitcoin, it's not traceable like money transfers, and cash could have a tracking device or a paint bomb. That doesn't make it bad, it just happens to be used for it. With that logic, how can we sell baseball bats in sports stores? Don't you know the mob keeps those in the trunk to break legs of people that don't pay their debt?

Maybe this video will convince you why cryptocurrency is good

In this market, I agree.

However, trend analysis/candlestick charting has served me well when trading options contracts.

Sorry, forgot the rules....

"Scoreboard"

Some of you guys are overly sensitive about this. It's not well regulated and thus prone to abuse. Give me an f'n break.

Show me your proof that it’s significant compared to any other form of currency.

Source - https://leb.fbi.gov/articles/featured-articles/virtual-currency-investigative-challenges-and-opportunities

"Virtual currency systems are not inherently illicit and are used by legitimate consumers every day to conduct legal transactions. These systems allow users to move funds quickly and efficiently across great distances without being tied to one country’s currency or worrying about international conversions. Like nearly any financial product, however, these systems can be exploited by criminals to further their illegal activities."

Some studies put the illegal usage of bitcoin at around 1%.

Stuff like this should make you cringe. "Outside the reach of regulators". If not for WizSec, would this guy have been busted? The actual hackers still unknown.

https://hackernoon.com/how-to-launder-4-billion-worth-of-bitcoin-156f1a401f3a

Pot... Kettle, Kettle.... Pot.

For somebody not involved in the buying/selling/trading of crypto currencies, you sure seem pretty sensitive.

And what is the preferred currency for drug dealers and terrorists around the globe? Why YES, it's U.S. Currency.

So be sure to immediately rid yourself of this vile, evil paper by sending your remaining U.S. currency to me, and I'll convert it into harmless ashes for you.

Together, we can save the world.

I'm just bored and this is somewhat interesting. If my bank is robbed, my money is insured by the FDIC, although admittedly losing value slowly decade by decade. If your bitcoin exchange is robbed, yer f'd, not to mention the crazy price fluctuations.

oh?

"All digital currency that Coinbase holds online is fully insured. This means that if Coinbase were to suffer a breach of its online storage, the insurance policy would pay out to cover any customer funds lost as a result."

"If you are a United States resident, your Coinbase USD Wallet is covered by FDIC insurance, up to a maximum of $250,000."

https://support.coinbase.com/customer/portal/articles/1662379-how-is-coinbase-insured-

Guy at work has been mining for about 6 months and got me interested. So I bought a Litecoin miner and put it to work. It's an interesting hobby anyway. It's made about 0.4 LTC in the last 5 days. Whatever that's worth may change so I should quit saying "$120" worth. But today, it's about $120 worth.

I too was bored.... Until I bought some BTC, ETC, & LTC. Now my life is an exciting rollercoaster full of ups & downs, leaving my head spinning, and my stomach turning... all the while, my "speculation" continues its vertical ascent.

But admittedly, it's not for emotional or the faint of heart.

There is a big diff between a USD wallet and a bitcoin wallet. Seems a very popular topic lately. Good luck!

There is definitely some shady sh!t going on with coinbase.

'Commoners' are having trouble getting money in or out.

https://www.reddit.com/r/CoinBase/new

They went down during the drop.

https://theoutline.com/post/2779/coinbase-bitcoin-trades-shut-down-price-cryptocurrency-exchanges

Reminds me of the MtGox exchange just before they claimed they were hacked and the money was all gone.

Its A Wonderful Life - George Bailey (resized).jpg

Still 22% down from last week. I decided to buy a little more when it hit $11K and lookie-loo, back up to $14K. Probably back over $20K by Monday.

I will admit, I had a bit of shock when I saw the dip!

But I have to say, Coinbase really needs to get their shit together. I can't even SELL there as a Canadian. I'll have to move my coins off to Kraken or something.

Go onto Coinbase/GDAX
Buy Ethereum
Send to Binance ETH Wallet
Buy Link with it
Hodl

Thank me in 2 years

chainlink-ico (resized).png

Lol, there's always been penny stocks too. $1000 bucks says this guy figured out a way to short it and is.

read the paragraph again. *all* the coinbase wallets are insured. the USD wallets are FDIC insured.

Bitcoin is a poor choice for this kind of activity, because the blockchain is recorded and all transactions have a public history on the ledger. There is nothing private about it, and nothing preventing future prosecution of individuals that chose to use it for these purposes.
When silkroad was busted, all BTC seized was burned to a 0x00 wallet and taken out of circulation. And that was a few years ago. Remember, these guys are always several steps ahead. The new thing for these guys is private blockchain crypto, like Monero. The joke of these is that they are centralized. That just makes it even easier to destroy in one step.

I think we just saw the "bear trap" phase on your first chart.

I put in a withdrawal request for $9,000 last night. It was in my checking account when I woke up this morning.

Perhaps the problems are isolated.

This. There is no way the big financial institutions and wallets are going to let this die off this fast when there is so much money to be made off of ignorant and emotional investors buying in at ATH points in the hopes of making millions overnight. They'll keep pumping, selling off, and repeating until it collapses or regulation takes hold. The entire thing is manipulated and controlled by whales, even in the ALTS, which is why I'd never suggest anyone to invest in any of these other than some small long-term bets focused on the specific usable block chain technology itself vs some outdated tech that has transaction fees and times greater than what it is worth.

Blockchain is here to stay. BTC is not.

IMHO You should be able to buy hookers and blow with BTC or USD.

I would use Monero for those.

You undershot it.

Haha, had me laughing and I am a fan of btc, but he nailed so many personalities I've met in crypto perfectly. "the veganism of the financial world" lol.

Obviously a tongue in cheek video.

However, the vast majority of people in the world have never even heard of Bitcoin, much less crypto currencies. I personally ask every business that I enter if I can pay with Bitcoin. I tried to pay my dentist last week, and my oral surgeon just this morning. 100% of the time, I'm met with "What's Bitcoin?" Then I smile, very happily.

Since this, and every internet forum is made up of "the vast majority of people", I expect there to be far more people against Bitcoin, and crypto currencies in general, based on the consensus that.... It's a scam, it's a bubble, and it's a tulip.

Since I've been searching for a tulip bubble scam, I'm currently happier than a pig in shit. Hence the number of red arrows I receive on a regular basis.

And I'm good with that because all those down votes are primarily from those who simply don't understand math, or the concepts of calculated risk and exponential ROI. So down vote away. If it makes YOU feel good, it makes ME feel good.

If you want to be the guy who clung to $200 (or any number) in 2017, carry on. I absolutely GUARANTEE that the $200 you saved, will be worth less than $200 in a year from now. That falls under the concept of inflation. Sure you can put $200 into savings, and it will be worth $200.50 in a year. But you still lost money due to 3% inflation. No risk, no return. You could put $200 into stocks for your 10% annual return (involves some risk of loss). You're not guaranteed any return, and could still lose money.

But, if you're the type of person who understands that a $200 speculation into crypto currencies (not necessarily Bitcoin) could net hundreds of thousands of dollars in just a few short years, then you understand the concept of risk/reward. Your risk of loss can never exceed $200, but the upside potential (reward) is unlimited. Think about that. No, seriously think about that.

I obviously have a different mindset than most. That's partly because I neither worship money, nor do I fear money. I see money as nothing more than a tool to be used to make more money. I understand that this differs from the average American, because I'm self employed.

Now allow me to toss some actual numerical facts into this ridiculous diatribe.

On my current $89,137 investment, er, speculation into crypto currencies, I'm sitting on a $148,610 portfolio. That's down from the peak of $194,000 due to the recent crypto correction. This return took 6 months to accomplish, all the while I lost an additional $50k or so on some REALLY bad trades.

There are some 7 Billion people on the planet. Bitcoin's market cap is in the TRILLIONS $$$$$. So in all reality, whether buying or selling, the 1,000 people that frequent Pinside, will not affect the overall crypto currency market in any way. Hell, I do instantaneous $50,000 trades on a regular basis, and I can't even affect the LTC market @ $275 per coin.

Bottom line: The guys on the Bitcoin forum tell me I'm a moron for investing $250,000+ into pinball machines, while the guys on the Pinball forum are telling me that I'm an idiot for investing (currently) $89,137 into magical coins.

P.S. I didn't save $200 this year.

P.P.S. Fremont Arcade is down to 1 pinball machine.

P.P.S A lot of really nice pins are about to be sent to auction.

Risk/reward.

Personally I'm fine with the Bears controlling the message for a little while longer as I accumulate but mainstream awareness is slowly but surely getting out there.
https://www.yahoo.com/news/former-fdic-chair-sheila-bair-shouldnt-ban-bitcoin-141019569.html

Serious question:

Are you a) Drunk b) High c) Both? LoL

Serious answer: I don't drink.

I'm a self made millionaire who started with nothing. I've worked since I was 12 years old, speculating on various business ideas. I now own multiple businesses, a rapidly growing "speculative" crypto currency portfolio, and a rapidly growing "speculative" stock portfolio. I currently have more money than I need, and I'm adding to that total on a daily basis.

But by all means, if it makes you feel better about yourself, then please continue mocking me. I'm really ok with that. The difference between me, and most people, is that I will not only explain my successes, but I'm also always going to report and explain my losses, just as I have above. I'm not pushing Bitcoin, and I'm not advising against it. I'm merely illustrating my personal experience with this entire crypto currency market, and my beliefs on risk/reward. I apologize in advance for all of the financial success that I may endure while reporting on my experience.

Bottom line: If I make millions of dollars in cryptos, you'll read about it right here. If I lose my $89,137 speculative investment (substantially more as I'll be adding to my positions), I will announce it loud and proud right here also. What you will always get from me is the truth, based in reality.

Now, a serious question for you...

Are you a) Afraid of risk? b) Afraid of losing money? c) Afraid of making money? d) Generally afraid of everything?

e) All of the above so I'll just wait for my next paycheck and hope it gets me through the month. And if I'm really lucky, my boss made money and might give me a 3% raise next year, Not that there's anything wrong with that lifestyle choice. But it's a choice nonetheless.

Anyway, I'll put you down for one of those who successfully saved $200.