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Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #75 on: November 09, 2018, 02:29:56 PM »
This is a short post just to correct an error. I said earlier that China has made bitcoin legal again. This appears to be wrong, although it was reported in the news, where I read it.

Technically, ownership of bitcoin is and has been legal all along in the PRC...but exchanges were regulated out of business months ago now, making legal PURCHASE of bitcoin and other cryptos impossible. Work-arounds instantly sprung up, and anybody in China who wants to buy some bitcoin can do it, it just takes a little time and trouble. It's been good for the Japanes exchanges, from what I've read.
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Offline azozeo

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Re: How Blockchain Will Rule Your World
« Reply #76 on: November 09, 2018, 02:35:59 PM »
This is a short post just to correct an error. I said earlier that China has made bitcoin legal again. This appears to be wrong, although it was reported in the news, where I read it.

Technically, ownership of bitcoin is and has been legal all along in the PRC...but exchanges were regulated out of business months ago now, making legal PURCHASE of bitcoin and other cryptos impossible. Work-arounds instantly sprung up, and anybody in China who wants to buy some bitcoin can do it, it just takes a little time and trouble. It's been good for the Japanes exchanges, from what I've read.


Sounds like Xi has a bad case of prohibitionitis like the west with the war on drugs (thank you 41) and of course BOOOOZE in the late 20's & 30's
of the last millennium.
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You donít know what it is but its there, like a splinter in your mind

Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #77 on: November 10, 2018, 08:59:35 AM »
I generally think that people who buy cryptos now, during the current flattening, will do okay over time, as crypto becomes a mainstream investment. It's similar to what happened with pot stocks. ETF's and futures trading will bring in more institutional players, the volume will go up, the decent coins will go up, some in spectacular fashion. Cryptos are apt to make pot stocks look like chump change. It's a whole new asset class, the first one in 100 years. It's a very big deal that is not yet fully understood....not at all.

However, there is a dark side. The Masters of the Universe, who make all the financial markets march to their tune, are gearing up to make crypto their next big swindle. I think there is some truth to what Bix Weir  (a friend of AZ's Clif High), is saying in this video.

<a href="http://www.youtube.com/v/9wnvDi7i_V8&fs=1" target="_blank" class="new_win">http://www.youtube.com/v/9wnvDi7i_V8&fs=1</a>
« Last Edit: November 10, 2018, 09:05:29 AM by Eddie »
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Offline azozeo

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Re: How Blockchain Will Rule Your World
« Reply #78 on: November 10, 2018, 12:08:41 PM »
I generally think that people who buy cryptos now, during the current flattening, will do okay over time, as crypto becomes a mainstream investment. It's similar to what happened with pot stocks. ETF's and futures trading will bring in more institutional players, the volume will go up, the decent coins will go up, some in spectacular fashion. Cryptos are apt to make pot stocks look like chump change. It's a whole new asset class, the first one in 100 years. It's a very big deal that is not yet fully understood....not at all.

However, there is a dark side. The Masters of the Universe, who make all the financial markets march to their tune, are gearing up to make crypto their next big swindle. I think there is some truth to what Bix Weir  (a friend of AZ's Clif High), is saying in this video.

<a href="http://www.youtube.com/v/9wnvDi7i_V8&fs=1" target="_blank" class="new_win">http://www.youtube.com/v/9wnvDi7i_V8&fs=1</a>


I just came-by some smokin' HOT  :evil4: intel from the ascended masters on crypto's. BUY/BUY/BUY.....
It's coming up in the hypno sessions that I've been watching for case work eval.
Higher selves are saying that the changeover from fed wallpaper to crypto's is the next human wave.

Ever get a "tip" from a spook ?  :icon_mrgreen:
I know exactly what you mean. Let me tell you why youíre here. Youíre here because you know something. What you know you canít explain, but you feel it. Youíve felt it your entire life, that thereís something wrong with the world.
You donít know what it is but its there, like a splinter in your mind

Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #79 on: November 11, 2018, 02:14:02 PM »
So far I have managed to buy a little XRP and now it's stored on my encrypted wallet, the Nano S, which stays offline unless I'm moving something on or off it. I can log on to the Nano app on my laptop to check my gains and losses, without the Nano being plugged in.

Today, I had a small amount of Bitcoin I bought about a week ago finally clear and become available to spend, so I made my first small buy of Nexo.  I wanted to make a test buy before I committed much, because it trades on Hotbit, a Hong Kong (I think) exchange that I don't know much about....I learned my lesson with DCEX.

I was able to deposit my Bitcoin, buy the Nexo, and then move the Nexo to the Nexo platform without much trouble. As far as I can tell, you can't put Nexo on your Nano S...and anyway, it has to remain in the Nexo "wallet" to be eligible for the dividends. Nexo is is supposed to be really secure. At least that's what I read.

Anyway, Nexo looks like a great investment that will throw off income.

For a retired person, or somebody who wants an investment that yields income, it sure looks to me like the place to be.

6.65% interest and a commitment to share 30% of profits with coin holders.

Plus, you can use your collateral coins to borrow at 8% instantly, and you still get the dividend. That's excellent, in my book.

They are a finance company. They are run by the same people as Credissimo, a successful consumer goods finance company in Europe, that has a  ten year track record of success. Credissimo makes instant online loans, worldwide.

The only difference with Nexo is that the Nexo coin is involved. They will loan against Bitcoin and several other popular cryptos, but if you hold their (NEXO) coin (or pay your loan payment with their coin) you get the 8% rate instead of a typical CC rate of 16%.

This is, in my opinion, a real genius idea, and it's a pioneering move by some bankers to get crypto involved in legitimate banking.

One thing that real rich people often do, for tax purposes, is to spend borrowed money for their living expenses. It's a good tax dodge. You don't pay income tax on borrowed money. That's debt. You just pay money on the income you use to make your loan payments.

It works like this...... First you have to build some decent equity in an investment (like an apartment building, say). Then you borrow against your equity and spend the cash. No taxes incurred. 

Robert Kyosaki  mentions this idea in his book Second Chance (2015). As a guy with a Poor Dad, I will admit the idea had never occurred to me. Very clever, those Rich Dads. Anyway, the reason I mention it is if you trade cryptos, that anytime you trade and you have gained equity, you owe tax. If I buy some bitcoin, and then it goes up, even a little, and I use it to buy something else, say XRP, I have incurred a tax liability.


So, you might begin to see how if somebody got lucky and made a LOT of money on Bitcoin or some other crypto, that it would make way better sense to keep it and borrow against it than it would to sell it to raise cash to spend. In a rising crypto market, particularly, it's an absolute no-brainer.

So, a business that lends money against crypto collateral stands to benefit from the current system in many ways, not just one way. It's a business of the future, looks like  to me.
« Last Edit: November 11, 2018, 02:19:46 PM by Eddie »
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Online Eddie

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Re: How Blockchain Will Rule Your World --- FOMO Caused By Slo-Mo
« Reply #80 on: November 13, 2018, 09:55:50 AM »
FOMO, in case you don't know, stands for "fear-of-missing-out". Cryptos, when they start to move higher, are often propelled by lots of FOMO.

Almost every day now I see positive news on the Ripple company and their coin, XRP. Banks all over the world are coming onboard, and SWIFT, the antiquated system of settling cross-border bank payments, has to be at some risk of being abandoned altogether. It's highly disruptive technology, this bankers crypto, XRP.

It's cheap. It was cheaper a couple of months ago, but it's still REALLY cheap, imho. I want to buy a lot of it. I think it has that possibility that some cryptos have, of bringing extremely outsize returns. I could be wrong ,of course.....and I'm not a financial advisor, and you should do you own due diligence on anything you want to invest in....but with that said, it looks like it might be getting ready to break out and I wish I owned a lot more of it.

It took me a while to learn HOW to buy it. You have to trade for it with another coin. You can't buy it with fiat money directly.

Part of the problem is that I'm not flush with cash, and that part is just MY problem....but even if I get some cash today, it will take me about two weeks to turn it into XRP.

Gemini, my favorite crypto exchange, has a $500/day deposit limit on bank transfers. Coinbase does not, but it takes them a full TWO WEEKS  to clear an electronic bank transfer. As a small time investor, I've never set up wire transfer from any of my bank accounts, and don't particularly want to....but it speeds things up.

But given cash in the bank today, I can buy Bitcoin today, or Ethereum, or some other major coin.....and two weeks from today I can move it to another exchange and buy XRP.

I'm not sure I HAVE two weeks. I expect this one to run any day. I doubt I will get the size portfolio built I want, before it catapults higher. I hope I'm wrong, actually. About February would be better timing for me. But...it sure looks like it'll move soon. Lots of hints and unconfirmed rumors about huge deals....maybe just hype, but there's real positive news too, almost daily now. The pump is already primed, imho.

Bitcoin, and cryptos in general (which are almost all heavily correlated with BTC chart-wise), are still weak. There are some other great crypto opportunities. VeChain (VET) has dropped to sub-penny. NEXO is about 14 cents. Tron (TRX) is still about 2 cents. I'd like to buy all those too, but I'm not....not until I get some more XRP....hopefully.
« Last Edit: November 13, 2018, 10:00:38 AM by Eddie »
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Offline RE

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Re: How Blockchain Will Rule Your World
« Reply #81 on: November 13, 2018, 12:02:46 PM »
Take out a second mortgage on your McMansion and bet it all on your favorite blockchain currency!  You'll be a Billionaire in a few weeks, like the Winklevoss Twins!  If you are so confident of this, I will go in for $10K on the bet with you.  It's a gamble of course, but on my side I have nothing left to lose anyhow.  i'm a walking corpse already.  If it works out well, I'll use the profits for a full set of implants on my mouth at your prices.  This is a Win-Win bet for you.  I will write the check today if you got the cojones for it.

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Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #82 on: November 13, 2018, 01:23:35 PM »
I have a few options for raising cash. I hope to get to a 50K stake before it lifts off. But it could happen any time. Right now it's 50 cents. At 5 bucks it won't have the same upside. I want in before it doubles or triples....which could happen almost instantly. once it gets lift-off.

50K, i think, would be plenty, and it wouldn't leave me in horrible shape if it went south. It looks better than just about anything I've ever seen. But I do need to get my bet down soon. As it stands now I'll be up to about 10K on the table in 2 weeks, without cashing out any investments.

I wouldn't recommend you or anybody to buy it with money they can't afford to lose. Cryptos are highly speculative..

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Online Eddie

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Re: How Blockchain Will Rule Your World ---Bitcoin Getting Creamed Today
« Reply #83 on: November 14, 2018, 12:22:44 PM »
And I'm holding some, because it's on hold. Otherwise I'd be using it to buy XRP with both fists. It's down too. This is a risk of owning crypto. It's like pot stocks...when one goes down, they ALL go down. Way too correlated, but it is what it is.

Not sure what the driver is. I wonder if the USD has finally topped and started to break down. I don't have any real good explanation for what's going on, unless the dollar carry trade is reversing.

Bitcoin
Bitcoin

This is definitely a breakdown to a new lower level, unless it suddenly reverses very soon. I don't have that much tied up. Mostly it pisses me off I can't buy more XRP on the pullback.
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Offline RE

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Re: How Blockchain Will Rule Your World
« Reply #84 on: November 14, 2018, 12:30:41 PM »
I wouldn't recommend you or anybody to buy it with money they can't afford to lose. Cryptos are highly speculative..

I can afford to lose $10K.  In fact I can afford to lose a lot more than that since my future lifespan is not likely to be very long.  But I'm in for $10K.  I wrote the check.  PM me with where you want me to mail it to.

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Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #85 on: November 14, 2018, 12:57:58 PM »
Don't send it to me. I don't want to be responsible for your 10K.

Go to Coinbase. Open an account. Set up 2 factor ID so you you get a text to confirm all log-ins and all trades. Use Coinbase because you can do it in all one buy, if you want. (But I'd average in, the way today looks. See below)

Set it up for an ACH bank transfer (easy, they even let me do it with my local credit union account).

Buy 5K worth of Bitcoin now and watch and wait. I expect it might be even cheaper tomorrow since it just broke key support, but it's uncertain. I'd only spend half today, in case it's cheaper tomorrow. If it suddenly reverses, go ahead and buy the second buy.

Once your bitcoin is available to spend (14 days) then I'll walk you through how to buy XRP. I'd do that on Binance. You can set tup that account too, but you won't be able to fund it until your Bitcoin is free.

While you're waiting, buy and set up a Nano S encrypted wallet. (About a hundred bucks on Amazon.) When you get it, make sure it hasn't been tampered with. There are scam artists who set them up and repackage them so they can steal your crypto later. You should have to enter some brand new secret words, a bunch of them. If it appears to have the secret words already set, then don't use it. Best to buy from a seller with lots of good reviews. I did not know about the scam when I bought mine, but mine was new and clean. Might not be going on anymore, but that has happened in the past and is a known problem.
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Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #86 on: November 14, 2018, 01:36:13 PM »
And today buying Bitcoin is definitely trying to catch a falling knife. It would be safer to just get ready and buy once it stabilizes again. Maybe that would be best. But set up the Coinbase account.
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Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #87 on: November 14, 2018, 02:40:44 PM »
Just now found this out. There is an exchange called Uphold that sells XRP direct.

I am going to see if I can set up an account there. Much easier for you, if it isn't hard to get through the approval process.  I'm headed home from work. I'll report back.
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Offline RE

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Re: How Blockchain Will Rule Your World
« Reply #88 on: November 14, 2018, 03:05:42 PM »
Don't send it to me. I don't want to be responsible for your 10K.

Go to Coinbase. Open an account. Set up 2 factor ID so you you get a text to confirm all log-ins and all trades. Use Coinbase because you can do it in all one buy, if you want. (But I'd average in, the way today looks. See below)

Set it up for an ACH bank transfer (easy, they even let me do it with my local credit union account).

Buy 5K worth of Bitcoin now and watch and wait. I expect it might be even cheaper tomorrow since it just broke key support, but it's uncertain. I'd only spend half today, in case it's cheaper tomorrow. If it suddenly reverses, go ahead and buy the second buy.

Once your bitcoin is available to spend (14 days) then I'll walk you through how to buy XRP. I'd do that on Binance. You can set tup that account too, but you won't be able to fund it until your Bitcoin is free.

While you're waiting, buy and set up a Nano S encrypted wallet. (About a hundred bucks on Amazon.) When you get it, make sure it hasn't been tampered with. There are scam artists who set them up and repackage them so they can steal your crypto later. You should have to enter some brand new secret words, a bunch of them. If it appears to have the secret words already set, then don't use it. Best to buy from a seller with lots of good reviews. I did not know about the scam when I bought mine, but mine was new and clean. Might not be going on anymore, but that has happened in the past and is a known problem.

Forget it.  I can hardly even leave the digs to go shopping at 3 Bears.  Get richer by yourself, I'll die poor.

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Offline RE

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💸 Bitcoin sinks to new 13-month low
« Reply #89 on: November 19, 2018, 05:31:44 AM »
https://www.reuters.com/article/us-crypto-currencies/bitcoin-sinks-to-new-13-month-low-idUSKCN1NO0VB

Bitcoin sinks to new 13-month low

1 Min Read


FILE PHOTO - A small toy figure is seen on representations of the Bitcoin virtual currency in this illustration picture, December 26, 2017. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) - Bitcoin slumped to a new 13-month low on Monday, with the biggest cryptocurrency touching $5173.23 on the Bitstamp platform BTC=BTSP.

Bitcoin was last down 5.2 percent at $5270. The cryptocurrency, and other lesser coins including ethereum and XRP, endured a sell-off last week, with some blaming fears that a ďhard forkĒ in bitcoin cash, where the smaller coin that split into two separate currencies, could destabilize others.

Reporting by Tom Wilson and Helen Reid; Editing by Saikat Chatterjee
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