Author Topic: Cryptocurrency  (Read 2028 times)

jumbofrank

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Cryptocurrency
« on: January 17, 2018, 11:16:43 pm »
Anyone who hasn't been living under a rock for the past year must have heard about cryptocurrencies by now. I won't put any money in them for a few different reasons, one of them being that it has wilder swings than a severely bipolar patient who went off their meds.

Bitcoin is number one and went up some ridiculous amount, 13,000% in a year or something stupid like that. One day it went down $1,000 or more per bitcoin. I don't pay much attention to these things so don't quote me on the amounts.

Second place is Etherium and it's had ups and downs too.

Third place is Ripple. Wednesday morning I saw some news about it online. One of the Ripple co-founders lost 44 BILLION dollars on it in the past 2 weeks. https://www.cnbc.com/2018/01/17/ripple-co-founder-loses-44-billion-on-paper-during-cryptocurrency-crash.html

So, you can make or lose a fortune investing in "currency" that isn't real money, and isn't backed by the government, the majority of the world's banks, or anyone else. You could declare Monopoly money to be acceptable currency and if enough other people agreed with you then you could spend it online and cash it in for real money at ATMs.

Anyone here investing in bitcoin or any of the 1,447 other crptocurrencies? If so, are you a millionaire yet?
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Cryptocurrency
« on: January 17, 2018, 11:16:43 pm »

TAB

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Re: Cryptocurrency
« Reply #1 on: January 22, 2018, 11:39:56 am »
I know some people that have made $$$ and some that lost their ass The idea behind it is good and something most of us would like(ie not being tracked)  sadly, it has turned into a gold rush in the last few years.  Just like the gold rush, those selling supplies(exchanges, mining hard ware)  and big business  are the only ones getting  rich.

I bought 1 bit coin at 200, sold it when it hit 1000, should have waited, but I was ok with 500% profit.
I always break all the clay pigeons,  some times its even with lead.

jumbofrank

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Re: Cryptocurrency
« Reply #2 on: January 23, 2018, 12:32:19 am »
Now with people mining bitcoins and such with their computers there's a new problem. Some sites I visit try to infect my computer with an unwanted app called JScoinminer. JScoinminer is a JavaScript cryptocurrency miner that runs in web browsers and consumes enormous CPU resources, making computer use sluggish. The JavaScript is loaded in the browser when the user visits a web page hosting the JavaScript. The JavaScript runs as long as the user stays on the web page. If Norton Security Suite doesn't block it Malwarebytes will and I don't have a problem with it.
THE RIGHT TO BUY WEAPONS IS THE RIGHT TO BE FREE
A. E. van Vogt, The Weapon Shops of Isher.

Timothy

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Re: Cryptocurrency
« Reply #3 on: January 23, 2018, 08:34:15 am »
My BIL told me he dropped 30k into bitcoin and within a week sold it for 47k!

UPS driver, retired at a combined SS and pension of near six figures!

Hes an asshole....

jumbofrank

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Re: Cryptocurrency
« Reply #4 on: January 23, 2018, 01:37:10 pm »
I saw something today where some financial expert was talking about cryptocurrency. He said that dictators and criminals are using it to bypass sanctions and launder money, and because of that the government will start regulating it. That was all I listened to, but that will mostly end the reason for cryptocurrency's existence.
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TAB

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Re: Cryptocurrency
« Reply #5 on: January 23, 2018, 02:34:10 pm »
Tracing the money is very difficult, because of heavy encryption.    Unless there is a back door or some one is ready too drop big bucks on the tens of thousands of man hours needed too crack it, it will not happen. It is possible, but it is also possible to win the super  lotto and be a 100+ millionare.
I always break all the clay pigeons,  some times its even with lead.

alfack

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Re: Cryptocurrency
« Reply #6 on: January 23, 2018, 05:05:10 pm »
What happens when the internet goes down?

Rastus

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Re: Cryptocurrency
« Reply #7 on: January 23, 2018, 06:09:32 pm »
What happens when the internet goes down?

Yeah you right......what does happen?
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TAB

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Re: Cryptocurrency
« Reply #8 on: January 23, 2018, 06:48:53 pm »
Not sure, but there was a guy that threw away a hard drive a few years back with millions on it, he reportally  search the dump of a major city for weeks, but never found it.
I always break all the clay pigeons,  some times its even with lead.

jumbofrank

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Re: Cryptocurrency
« Reply #9 on: January 23, 2018, 06:49:27 pm »
Yeah you right......what does happen?

If all the 1s and 0s disappear you have nothing.
THE RIGHT TO BUY WEAPONS IS THE RIGHT TO BE FREE
A. E. van Vogt, The Weapon Shops of Isher.