(Topic ID: 200502)

Somebody explain Bitcoin to me


By Pinballlew

1 year ago



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    #1301 1 year ago

    Anyone see the to new "blockchain" ETFs that came online today? BLCN & BLOK

    The BLCN ETF holds shares of companies that committee “material resources” to blockchain technology research and development. Each company included is analyzed and assigned a “Blockchain Score” by the Reality Shares board. The Blockchain Score quantifies how much each company is expected to benefit from the advancement of blockchain technology.

    Every six months, the BCLN is rebalanced to include the 50 to 100 companies with the highest Blockchain Scores. The index weighting is also rebalanced based on Blockchain Score as well.

    According to the Reality Shares website, the BLCN’s initial top holdings include Intel Corporation
    INTC 2.9%
    Overstock.com Inc
    OSTK 7.69%
    and International Business Machines Corp.
    IBM 2.93%

    The BLOK ETF also focuses on companies that are developing blockchain or blockchain-related technology. Holdings include companies researching, implementing and profiting from blockchain technologies. It also includes companies with blockchain-related partnerships that could prove financially beneficial. Amplify classifies each company included in the index as either “core” or “secondary” based on how closely-tied the company’s business is to blockchain development.

    Amplify has said it plans to be particularly active in managing the BLOK fund to make sure it stays on top of the rapidly-changing blockchain landscape. The fund’s holdings and balance could potentially be adjusted on a daily basis. Subadvisor Toroso Investments will select the fund’s holdings and manage its investment strategy, while Exponential ETFs will construct the portfolio and execute trades.

    According to the Amplify website, top holdings include Taiwan Semiconductor Mfg. Co. Ltd. (ADR)
    TSM 2.13%
    DIGITAL GARAGE
    DLGEF 4.49%
    and SBI HOLDINGS INC
    SBHGF 2.42%

    #1302 1 year ago

    I saw the BLOK founder interviewed today on CNBC

    An interesting theory. I don’t think rebalancing every 6 months is gonna suffice

    What’s the expense ratio?

    #1303 1 year ago
    Quoted from iceman44:

    What’s the expense ratio?

    For BLOK - 0.70%
    For BLCN - 0.68%

    #1304 1 year ago
    Quoted from Astropin:

    For BLOK - 0.70%
    For BLCN - 0.68%

    That’s certainly reasonable

    #1305 1 year ago

    It's interesting. Today I sat at a bar for lunch and glanced over at the local newspaper. Some app took out a full front and back cover page ad to sell a bitcoin trading app that showed the cost of a bitcoin at $19k CAD with a green arrow and positive percentage gain beside it. When I checked on my phone moments later to see the actual price it was $5K less.

    Then I check my Facebook machine and I follow a few playboy bunnies on there. I see one of these babes is now a crypto expert with her own blog and all that jazz. again.

    Look up Miss Kennedy Summers for some fine viewing. From what I gather she is a lesbian too. Not that that makes any difference.

    #1306 1 year ago
    Quoted from iceman44:

    That’s certainly reasonable

    I thought so. Slightly higher than the average ETF but still lower than the average traditional index fund.

    #1307 1 year ago
    Quoted from cdnpinballer:

    Then I check my Facebook machine and I follow a few playboy bunnies on there.

    Quoted from cdnpinballer:

    I see one of these babes is now a crypto expert with her own blog and all that jazz. again.

    Not entirely sure why that's funny?

    #1308 1 year ago

    When I think of a playboy bunny I don't automatically default to 'crypto currency expert'.

    #1309 1 year ago

    She was also Miss. December 2013. Listed as her ambitions at the time she says "To have my own plastic surgery clinic and, most important, to be happy!

    So yeah from plastic surgeon to crypto expert...

    IMG_20180117_203313 (resized).jpg

    #1310 1 year ago

    BitCoin is the ultimate self-eating watermelon. Someone on this thread likened bitcoin mining to digging holes in the desert...I think that sums it up for me. I have a pretty deep understanding of crypto and I understand the blockchain technology. But nobody’s going to convince me that something has value solely because it has a fixed distribution over time. Happy to watch this one from the sidelines.

    #1311 1 year ago

    trading_places_crypto (resized).jpg

    #1312 1 year ago
    Quoted from cdnpinballer:

    When I think of a playboy bunny I don't automatically default to 'crypto currency expert'.

    I don't think anyone would. Then again the fact that one is also knowledgeable in crypto does not surprise me either.

    I recall a porn actress that was also a Mensa member. Smart as a whip, no drugs or alcohol and making bank.

    I learned a long time ago not to judge a book...

    #1313 1 year ago
    Quoted from ExtremePinball:

    I was able to squeeze in a few buys while everything was on sale. 25 LTC @ $156, 0.1 BTC @ $10,122, 3 Etherereum @871.45 and 300 XRP @ $1.05.
    I'm still spreading my poker chips around into the alt coins too. Opened an account on hitbtc exchange yesterday. Fairly large exchange with more alt coins than bittrex.

    Agreed!!! The stock market is so severely overbought that when it corrects, lookout below.
    Of course I could be wrong, and a 9 year bull run of 400% gains is the "new normal". But I'm thinking there's nothing different about wall street's greed today, as compared to 1 year ago, 5 years ago, 10 years ago.
    So they'll soon be pulling the rug out from underneath all the good people who were artificially forced into the market when faced with .1% savings rates and 3% inflation, all while being told there is no inflation.
    Couple that with 4 trillion dollars in free money handed off to the banks and.... ah, what bad could possibly come of that?
    Nope, just ignore those "micro-aggression" facts. Nothing to see here. Profits schmofits. Who need think of such trivial things? ALL stocks go up in a bull market. The stock market is at all time highs and can ONLY go higher. Get your money in now, folks.
    That's just my opinion and nobody else's matters.

    Dividends muthafucka! You eva heard of it?!

    #1314 1 year ago
    Quoted from iceman44:

    Haha yep. Stock market will correct. Just a matter of time.
    I know you understand the differences between it and the Crypto crap table Extreme!
    Every dummy with a quarter in his pocket thinks he’s a crypto expert and will make a fortune
    My daughter’s friends say they are “heavily invested” in crypto. So no worries

    Ok, so if you know the stock market is going to correct, correct big and correct soon, and you know Bitcoin has already corrected more than 50% from its high and bounced off of major support, where would you put your money? Where would a non-professional, non-conformist put his/her money? Sure I'll keep my pot & crypto stocks. But my money is going into BTC, LTC, ETC and at last count, at least 131 other coins. I'm also investing heavily in crypto mining.

    The crypto currency markets are a giant blow to the status quo of the financial markets. This shit is pissing off a lot of politicians and hedge fund billionaires. So they'll send they're government wolves to start shutting crypto related investments down like they did to Bitconnect. You know, to protect the innocent investors. End result, a paper loss of 95%. Boy do I feel protected. Yessir, they done protected me good. I was earning well on my investment until they decided I needed to be protected. NO, in reality they are protecting the status quo. The peasants can't be allowed to make easy money. .

    I trust we'll revert back to this thread when the DOW is 15k.

    BTC to the moon, baby.

    #1315 1 year ago
    Quoted from Astropin:

    I learned a long time ago not to judge a book...

    A good cover sells more books.

    #1316 1 year ago

    Sorry but BCC (Bitconnect) did look like a total ponzi to me.

    #1317 1 year ago
    Quoted from cdnpinballer:

    A good cover sells more books.

    Up front maybe.

    #1318 1 year ago
    Quoted from ExtremePinball:

    Ok, so if you know the stock market is going to correct, correct big and correct soon, and you know Bitcoin has already corrected more than 50% from its high and bounced off of major support, where would you put your money? Where would a non-professional, non-conformist put his/her money? Sure I'll keep my pot & crypto stocks. But my money is going into BTC, LTC, ETC and at last count, at least 131 other coins. I'm also investing heavily in crypto mining.
    The crypto currency markets are a giant blow to the status quo of the financial markets. This shit is pissing off a lot of politicians and hedge fund billionaires. So they'll send they're government wolves to start shutting crypto related investments down like they did to Bitconnect. You know, to protect the innocent investors. End result, a paper loss of 95%. Boy do I feel protected. Yessir, they done protected me good. I was earning well on my investment until they decided I needed to be protected. NO, in reality they are protecting the status quo. The peasants can't be allowed to make easy money. .
    I trust we'll revert back to this thread when the DOW is 15k.

    BTC to the moon, baby.

    I’ll be backing up the truck if Dow drops back to $15k. And I don’t know WHEN the market will correct. Nobody does. Could be next week, next year or it might match 17 yr bull run started by Reagan. Volatility will rise in 2018

    But tax reform, deregulation, Corp earnings, GDP growth, the US dollar lower, consumer and business sentiment extremely high VERSUS higher oil prices, a rising 10 yr treasury, geo political events and Fed uncertainly

    Right now, the forces of good are Trumping (get it?) the forces of evil

    The regulatory crunch is underway

    And the “new normal” isn’t going from $1,000 in Jan 17 to $19,000 and cut back in half in a few months

    To the moon? It’s already been there. Back to $1,000? That’s where it’s headed. Fibonacci retracement

    This is so beyond dot com

    As someone else pointed out, wait until you see the manipulation around options expiration! It’s always designed to deliver max pain

    It’s fun to watch! I hope you guys are careful. The shorts will use the option market to crush people on the way back down

    When? Who knows, but crypto mania will run its course.

    If I want to use $5000 of bitcoin to buy $5000 of goods or services versus paper $$, great. Not to make 500% returns. But hey you are from Vegas baby!

    #1319 1 year ago
    Quoted from iceman44:

    But tax reform, deregulation, Corp earnings, GDP growth, the US dollar lower, consumer and business sentiment extremely high VERSUS higher oil prices, a rising 10 yr treasury, geo political events and Fed uncertainly
    Right now, the forces of good are Trumping (get it?) the forces of evil
    The regulatory crunch is underway

    Oh absolutely agree. Business is going to thrive in this country for the next few years.

    The regulatory crunch on cryptos is coming due to the threat to the status quo. Governments all over the world are going to ban it. In fact I hear the U.S. gov is creating a crypto czar to oversee the new "war on crypto currencies".
    I trust that it will be as much of a success as the war on poverty, the war on hunger, the war on drugs, and the war on terror.

    Quoted from iceman44:

    As someone else pointed out, wait until you see the manipulation around options expiration! It’s always designed to deliver max pain
    It’s fun to watch! I hope you guys are careful. The shorts will use the option market to crush people on the way back down
    When? Who knows, but crypto mania will run its course.

    I think we just saw the first round. I bought multiple coins while they were on sale. But now that big money bought in low, they need to drive the price up to sell out. Wash, rinse, repeat. I'm in on that ride. As BTC rises, I'll move it into other investments while it's strong.

    I play with stock options too. High risk.

    Let's be real, nobody is actually careful when putting money in stupidly high risk investments. I took a $54k hit yesterday on paper. I'm now DCA my way out of the coin while things are down. I've never lost that much money, that quickly in my life. And yet all I think is "well, that's gonna put a dent into the profit". It wasn't my money. That particular investment was paying just over 1% per day, every day. High risk.

    I have another one that claims to pay 3% per day for life. Every day they put 3% into my account. That money is withdrawn every day. I know to take those daily payments out at least until day 34. Every day that I receive interest after that is essentially free money. It's completely insane, absolutely unsustainable, and I just hope my wager lasts at least another 26 days. If it goes another 122 days I'll cover the recent loss too.

    Quoted from iceman44:

    Who knows, but crypto mania will run its course.

    That's funny. Run it's course. It hasn't even started. This is the first year the IRS even has rules. You have no idea how big this can get, nobody does. You know, just like you can't time the market, nobody can.

    #1320 1 year ago

    If anyone is interested the US Marshall’s are auctioning off some bit coins...

    https://www.usmarshals.gov/assets/2018/bitcoinauction/

    #1321 1 year ago
    Quoted from BigT:

    If anyone is interested the US Marshall’s are auctioning off some bit coins...
    https://www.usmarshals.gov/assets/2018/bitcoinauction/

    lol even after the crash, that is approximately $41 million worth of bitcoin. holy shit, good for them. hope some of it goes to their mental health services -- U.S. Marshalls see some of the most fucked up shit humanity has to offer. You don't want to hear the details. My mother worked in mental health services for them, and they had a very high rate of PTSD / STSD and other disorders stemming from the jobs they had to do.

    #1322 1 year ago

    Did someone say Bitconnect scam?

    https://thenextweb.com/hardfork/2018/01/17/bitconnect-bitcoin-scam-cryptocurrency/

    Speaking of scams, I got my eye on 'tethers' and one of the largest exchanges Bitfinex...

    https://www.bloomberg.com/news/articles/2017-12-05/mystery-shrouds-tether-and-its-links-to-biggest-bitcoin-exchange

    $350,000,000 in worthless USDT Chuck-E-Cheese tokens printed in the last 3 days?!
    https://mobile.twitter.com/tetherprinter

    When this thing blows, your Playmate turned investment experts are going to have to fall back on their med school degrees.

    #1323 1 year ago
    Quoted from ExtremePinball:

    I have another one that claims to pay 3% per day for life. Every day they put 3% into my account. That money is withdrawn every day. I know to take those daily payments out at least until day 34. Every day that I receive interest after that is essentially free money. It's completely insane, absolutely unsustainable, and I just hope my wager lasts at least another 26 days. If it goes another 122 days I'll cover the recent loss too.

    Jesus Christ man, that's the dictionary definition of a Ponzi. You seem to fall for every scam in the crypto world. I might feel bad about it but you've done nothing but wag your dick on here about how successful of an "investor" you are. Prepare to lose your dick.

    I do appreciate your transparency and don't wish you (or anybody) personal financial ruin, but you're the perfect "mark".

    #1324 1 year ago

    Duplicate

    #1325 1 year ago
    Quoted from guyincognito:

    Did someone say Bitconnect scam?
    » YouTube video
    https://thenextweb.com/hardfork/2018/01/17/bitconnect-bitcoin-scam-cryptocurrency/
    Speaking of scams, I got my eye on 'tethers' and one of the largest exchanges Bitfinex...
    https://www.bloomberg.com/news/articles/2017-12-05/mystery-shrouds-tether-and-its-links-to-biggest-bitcoin-exchange
    $350,000,000 in worthless USDT Chuck-E-Cheese tokens printed in the last 3 days?!
    https://mobile.twitter.com/tetherprinter
    When this thing blows, your Playmate turned investment experts are going to have to fall back on their med school degrees.

    I wonder how many just assume a USDT is a US dollar? And those terms of service? But who reads that shi* right?

    #1326 1 year ago
    Quoted from guyincognito:

    When this thing blows, your Playmate turned investment experts are going to have to fall back on their med school degrees.

    Dude, seriously, we get it. You hate crypto and think we are all idiots for investing in it. Fine, that's your opinion, great. We are all happy for you.

    In an attempt to start a thread where those of us that are fans of crypto can discuss things without the haters, I started a separate thread. I figure you guys that are so passionately against crypto can keep spouting off about tulips and bubbles here.

    https://pinside.com/pinball/forum/topic/cryptocurrency-investment-thread-no-haters-please#post-4182293

    #1327 1 year ago

    2017: Made 115% on my Linda coin in a day

    1984: "Underspin, in the future you will make money off a fake currency called Linda. You will also make money off another fake currency called Tron. It's not based on the movie but everyone on Twitter creates memes using the movie. The new movie not the old one. Yes they're going to make another Tron movie 25 years from now. What? What's Twitter? What's a meme? OK clearly you're not ready to hear any of this, just like you aren't ready to hear that Donald Trump will be the President. OK stop crying. Yes, play your Van Halen Diver Down record again if it makes you feel better. Yes Journey Frontiers too. No, not Thomson Twins that's super fruity"

    #1328 1 year ago

    F5D9E5A1-A76D-4785-969B-5BEF8B4A60BA (resized).jpeg

    #1329 1 year ago

    Bought Tron at .09 last week, watched it tank to .04. Just sold out of that crap at .10. Phew

    #1330 1 year ago
    Quoted from simplykind:

    Bought Tron at .09 last week, watched it tank to .04. Just sold out of that crap at .10. Phew

    I bought at .03 sold at .18, then stupidly rebought on the way down thinking we'd reached the floor, then it tanked down to .04 just like you. I'll be even at 900sats. Might sell again, might let it ride though 1000 will be hard to break. There will be a bloodbath up there.

    #1331 1 year ago

    I also bought 2ETH yesterday but was too chicken to hold them and have the floor drop out so only made $100 profit instead of $500 if I would have held for a few more hours. Lol. Yesterday was quite exciting to say the least!

    #1332 1 year ago
    Quoted from guyincognito:

    Did someone say Bitconnect scam?
    » YouTube video
    https://thenextweb.com/hardfork/2018/01/17/bitconnect-bitcoin-scam-cryptocurrency/
    Speaking of scams, I got my eye on 'tethers' and one of the largest exchanges Bitfinex...
    https://www.bloomberg.com/news/articles/2017-12-05/mystery-shrouds-tether-and-its-links-to-biggest-bitcoin-exchange
    $350,000,000 in worthless USDT Chuck-E-Cheese tokens printed in the last 3 days?!
    https://mobile.twitter.com/tetherprinter
    When this thing blows, your Playmate turned investment experts are going to have to fall back on their med school degrees.

    I was going to upvote this post for the interesting information... but then that last sentence...why?

    Just because a woman is attractive and is potentially smarter and makes more money than you? Because that's how it comes across.

    #1333 1 year ago
    Quoted from Spyderturbo007:

    Dude, seriously, we get it. You hate crypto and think we are all idiots for investing in it. Fine, that's your opinion, great. We are all happy for you.

    He is right about Bitconnect and Tether though. We can disagree about whether crypto in general is a scam, but Bitconnect was a very obvious Ponzi scheme that was going to self-destruct up one day. Tether is also a fraud. I think we would have seen a more dramatic drop in crypto values the past couple days if not for Tether's false currency propping up the entire market. One day we're going to see that one collapse too, and maybe take the market with it if a new fiat backed crypto doesn't take its place first.

    #1334 1 year ago
    Quoted from simplykind:

    I also bought 2ETH yesterday but was too chicken to hold them and have the floor drop out so only made $100 profit instead of $500 if I would have held for a few more hours. Lol. Yesterday was quite exciting to say the least!

    My suggestion...stay out of this market (held for less than 24hrs?)

    #1335 1 year ago
    Quoted from XXVII:

    He is right about Bitconnect and Tether though. We can disagree about whether crypto in general is a scam, but Bitconnect was a very obvious Ponzi scheme that was going to self-destruct up one day. Tether is also a fraud. I think we would have seen a more dramatic drop in crypto values the past couple days if not for Tether's false currency propping up the entire market. One day we're going to see that one collapse too, if a new fiat backed crypto doesn't take its place first.

    Yep... and the problem is it looks like it's being used to prop up Bitcoin specifically .

    #1336 1 year ago
    Quoted from Astropin:

    My suggestion...stay out of this market (held for less than 24hrs?)

    Nah, I enjoy day trading. Was being cautious yesterday though.

    #1337 1 year ago
    Quoted from BigT:

    If anyone is interested the US Marshall’s are auctioning off some bit coins...
    https://www.usmarshals.gov/assets/2018/bitcoinauction/

    FAQ says syndicate bids are allowed. Minimum $200K. As a forum, we've paid far more for far less. Group bid anyone?

    #1338 1 year ago

    I can't wait my second rig goes live tonight. I was able to Source 6 RX 580 s at a reasonable price about four to six weeks ago.

    Just waiting on my power supplies and memory and that all comes this afternoon.

    Sticking with mining zcash with my first rig and probably siacoin and ether with my second one.

    #1339 1 year ago
    Quoted from guyincognito:

    I might feel bad about it but you've done nothing but wag your dick on here about how successful of an "investor" you are.

    Wag my dick? What are you a fucking idiot? Try reading all of the threads, and not just the one's with pictures. I NEVER once claimed to be a successful investor.

    Perhaps a course in reading comprehension might settle you down a bit.

    #1340 1 year ago
    Quoted from Astropin:

    Anyone see the to new "blockchain" ETFs that came online today? BLCN & BLOK
    The BLCN ETF holds shares of companies that committee “material resources” to blockchain technology research and development. Each company included is analyzed and assigned a “Blockchain Score” by the Reality Shares board. The Blockchain Score quantifies how much each company is expected to benefit from the advancement of blockchain technology.
    Every six months, the BCLN is rebalanced to include the 50 to 100 companies with the highest Blockchain Scores. The index weighting is also rebalanced based on Blockchain Score as well.
    According to the Reality Shares website, the BLCN’s initial top holdings include Intel Corporation
    INTC 2.9%
    Overstock.com Inc
    OSTK 7.69%
    and International Business Machines Corp.
    IBM 2.93%
    The BLOK ETF also focuses on companies that are developing blockchain or blockchain-related technology. Holdings include companies researching, implementing and profiting from blockchain technologies. It also includes companies with blockchain-related partnerships that could prove financially beneficial. Amplify classifies each company included in the index as either “core” or “secondary” based on how closely-tied the company’s business is to blockchain development.
    Amplify has said it plans to be particularly active in managing the BLOK fund to make sure it stays on top of the rapidly-changing blockchain landscape. The fund’s holdings and balance could potentially be adjusted on a daily basis. Subadvisor Toroso Investments will select the fund’s holdings and manage its investment strategy, while Exponential ETFs will construct the portfolio and execute trades.
    According to the Amplify website, top holdings include Taiwan Semiconductor Mfg. Co. Ltd. (ADR)
    TSM 2.13%
    DIGITAL GARAGE
    DLGEF 4.49%
    and SBI HOLDINGS INC
    SBHGF 2.42%

    My main issue with the whole AltCoin market is that a lot of companies seem to come out with clever and potentially useful uses of the blockchain. But then the coin associated with it isn't actual stock, you're not owning a part of that company nor would you ever see a part of their actual profit. The only way for that coin to translate into something meaningful is that it becomes an actual currency that's used in the real world.
    I do see crypto currency being widespread in the future, but I think one of the major players will come out with something (keeping it decentralized in concept but steering it so that they keep a large part of the initial coin base and integrate it through all their chain so that it is de facto under their control).

    So, as someone who does believe that some of these alt-companies show some promising ideas, I like the idea of investing in the actual company through these holdings better than buying their coin.

    That's how I see it but there may be a part I'm not understanding.

    Edit: Actually I looked a bit more into these holdings and so far they're more like tech index funds with large cap companies than indexes of direct alt-coin startups...

    #1341 1 year ago

    <Double post>

    #1342 1 year ago
    Quoted from Toasterdog:

    I can't wait my second rig goes live tonight. I was able to Source 6 RX 580 s at a reasonable price about four to six weeks ago.
    Just waiting on my power supplies and memory and that all comes this afternoon.
    Sticking with mining zcash with my first rig and probably siacoin and ether with my second one.

    picking up the 580s a month ago was a very nice choice! Consider giving NiceHash a try with this new rig - my 390's do extremely well on it, and they are similar architecture.

    #1343 1 year ago
    Quoted from PhilGreg:

    Edit: Actually I looked a bit more into these holdings and so far they're more like tech index funds with large cap companies than indexes of direct alt-coin startups...

    Uhh..yeah, exactly. They or I never implied these ETF's were investing in any coins...just real companies moving into or utilizing blockchain tech. Could be a nice relatively secure way to invest in the tech without the extreme volatility of the crypto market. For the more conservative investor that is intrigued by the technology behind cryptocurrencies.

    #1344 1 year ago

    Yeah, but the part I really have a hard time wrapping my head around is how finding interesting alt-blockchain application startups translates to buying the associated coin, regardless of volatility.
    I'm not looking to "debunk" the whole thing, I'm trying to understand it. I do hold some coins and shuffle them around a bit as I try to understand the whole thing.
    I do see some very clever stuff out there, but I can't do the same math I do with stock.

    Promising company worth x -> buy a small share of the company ( y% * x ) -> hope the company gains value ( f(x) > x ) -> make a profit ( f( y% * x ) > y% * x
    Promising alt-startup worth x -> buy their crypto coin (arbitrary value A ) -> ... -> ??

    #1345 1 year ago

    Basically, again, I believe in the whole technology, I'm trying to find a vehicle that is not entirely speculative to invest in it.
    I do think these ETFs are close to that, but volatility is not the issue for me, it's trying to anchor the money towards something that is not 100% speculative.

    #1346 1 year ago
    Quoted from PhilGreg:

    Basically, again, I believe in the whole technology, I'm trying to find a vehicle that is not entirely speculative to invest in it.
    I do think these ETFs are close to that, but volatility is not the issue for me, it's trying to anchor the money towards something that is not 100% speculative.

    In my half assed opinion, I would look at ETH. We all know that most of these altcoins are going to fail, but we also know that some of them will rise from the ashes and find a market. A good bit of the alts are ERC-20 tokens, meaning that they rely on the Etherium network for their underlying functionality.

    Blockchain isn't going to go away, so you might as well bet on the foundation for a lot other coins. Or at least that's my theory.

    #1347 1 year ago
    Quoted from PhilGreg:

    Basically, again, I believe in the whole technology, I'm trying to find a vehicle that is not entirely speculative to invest in it.
    I do think these ETFs are close to that, but volatility is not the issue for me, it's trying to anchor the money towards something that is not 100% speculative.

    Actually I think those ETFs are perfect for that. Exposure to the underlying tech without the volatility. If you consider ETFs investing in companies like IBM, Microsoft, INTEL, Overstock...etc...to be 100% speculative then I don't know what to tell you.

    If you want more direct exposure (actual cryptos) then you are getting way more speculative. There's no in between that I'm aware of.

    Volatility is not your issue but speculating is? The two are TIED together.

    #1348 1 year ago
    Quoted from Astropin:

    Actually I think those ETFs are perfect for that. Exposure to the underlying tech without the volatility. If you consider ETFs investing in companies like IBM, Microsoft, INTEL, Overstock...etc...to be 100% speculative then I don't know what to tell you.
    If you want more direct exposure (actual cryptos) then you are getting way more speculative. There's no in between that I'm aware of.
    Volatility is not your issue but speculating is? The two are TIED together.

    I like what some of these startups are doing so I'd like to own a share of them. That's not 100% speculative because I think they have solid and useful application of blockchain technology and they may be viable companies down the line.
    However, I don't believe their coins are ever going to be accepted as currency, so if I buy those it's 100% speculatively, if that makes any sense.

    That's the distinction I make:
    -owning coins from crypto companies: volatile and speculative
    -owning shares of crypto companies: volatile and somewhat less speculative

    #1349 1 year ago

    I'm a crypto newb, please bear with me. I bought $200 of Ethereum via Coinbase recently just to play around with it and learn the ropes before putting more cash in. So far I haven't touched it yet. Can you day trade it in Coinbase selling on the highs and buying the dips? It seems to widely go up and down during the day. I'd imagine there are limits on those types of transactions.

    Then for other coins, is the most simple thing to transfer some Ethereum to Binance and trade there? Is having your money sitting there safe? Or are you pulling it out of there and saving the smaller coins somewhere else?

    #1350 1 year ago
    Quoted from nwpinball:

    I'm a crypto newb, please bear with me. I bought $200 of Ethereum via Coinbase recently just to play around with it and learn the ropes before putting more cash in. So far I haven't touched it yet. Can you day trade it in Coinbase selling on the highs and buying the dips? It seems to widely go up and down during the day. I'd imagine there are limits on those types of transactions.
    Then for other coins, is the most simple thing to transfer some Ethereum to Binance and trade there? Is having your money sitting there safe? Or are you pulling it out of there and saving the smaller coins somewhere else?

    NO!!! You do not want to trade on Coinbase.

    What you want to do is open an account on Coinbase's exchange, GDAX. On GDAX you can trade the market directly with market & limit trades. No fees on market makers. Ultimately, yes you can day trade the cryptos, just not on Coinbase due to their fees. Binance, GDAX, Bittrex, HitBTC, Kraken, there are a number of exchanges available. Not all exchanges trade the same coins.

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