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Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #90 on: November 19, 2018, 10:12:34 AM »
Not sure where Bitcoin is headed. The problem, as I understand it, has to do with a hard fork in Bitcoin Cash, which happened this last week.  (Bitcoin forked already, several months ago now, into two coins, the original Bitcoin and Bitcoin Cash). Now there is a war going on between the big money people who are controlling Bitcoin Cash, which also forked, last week.

It's somewhat similar to a hostile takeover bid in stocks, that's the best analogy I can come up with. They call it a hash war. Two strong groups of people who are fighting right now over Bitcoin Cash and currently burning up money for no good reason.

The prior fork was a wild card, but it all came out okay in the wash. No real damage to Bitcoin. This time it isn't so clear.

I only own a tiny amount of bitcoin which I bought to trade for XRP, and I'm liquidating it asap. It might be a buying opportunity for Bitcoin, but I'm not at all sure about that.

The whole crypto space has been affected by this ongoing war, but for XRP it's definitely a buying opportunity. Or rather it has been. XRP is still looking very bullish, one of the few coins that seems to be affected very minimally. Here's the chart. I expect it to break out.

Screen Shot 2018 11 19 at 12 04 01 PM
Screen Shot 2018 11 19 at 12 04 01 PM

For me, trying to establish a portfolio of XRP before it takes off, the Bitcoin hit was more of a blessing than a curse.. I'm up to 20% of the position I want, and I'm buying as fast as I can. I am now buying through an exchange called Uphold, that does not require me to pay with Bitcoin, so that problem is almost solved.

I just need to buy a lot more XRP while the crypto market is being hit. With a little luck, I'll be there by week's end.

For anyone who wants to know, I think it's a great time to scarf up Nexo, Vechain, and Tron, all of which have taken a hit because of Bitcoin, and ultimately what happens to BTC should not matter for them at all. I'd be buying them too, but XRP is my first priority. But I LOVE the prospects for Nexo, and it's cheap, cheap cheap, at the moment.
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Offline RE

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Re: How Blockchain Will Rule Your World
« Reply #91 on: November 19, 2018, 10:27:17 AM »
Not sure where Bitcoin is headed. The problem, as I understand it, has to do with a hard fork in Bitcoin Cash, which happened this last week.  (Bitcoin forked already, several months ago now, into two coins, the original Bitcoin and Bitcoin Cash). Now there is a war going on between the big money people who are controlling Bitcoin Cash, which also forked, last week.

It's somewhat similar to a hostile takeover bid in stocks, that's the best analogy I can come up with. They call it a hash war. Two strong groups of people who are fighting right now over Bitcoin Cash and currently burning up money for no good reason.

The prior fork was a wild card, but it all came out okay in the wash. No real damage to Bitcoin. This time it isn't so clear.

I only own a tiny amount of bitcoin which I bought to trade for XRP, and I'm liquidating it asap. It might be a buying opportunity for Bitcoin, but I'm not at all sure about that.

The whole crypto space has been affected by this ongoing war, but for XRP it's definitely a buying opportunity. Or rather it has been. XRP is still looking very bullish, one of the few coins that seems to be affected very minimally. Here's the chart. I expect it to break out.

Screen Shot 2018 11 19 at 12 04 01 PM
Screen Shot 2018 11 19 at 12 04 01 PM

For me, trying to establish a portfolio of XRP before it takes off, the Bitcoin hit was more of a blessing than a curse.. I'm up to 20% of the position I want, and I'm buying as fast as I can. I am now buying through an exchange called Uphold, that does not require me to pay with Bitcoin, so that problem is almost solved.

I just need to buy a lot more XRP while the crypto market is being hit. With a little luck, I'll be there by week's end.

For anyone who wants to know, I think it's a great time to scarf up Nexo, Vechain, and Tron, all of which have taken a hit because of Bitcoin, and ultimately what happens to BTC should not matter for them at all. I'd be buying them too, but XRP is my first priority. But I LOVE the prospects for Nexo, and it's cheap, cheap cheap, at the moment.

Wishing you luck and crossing my fingers🤞!  Hope you hit it big so you can retire.

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Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #92 on: November 19, 2018, 05:13:10 PM »
Pretty good technical take on Bitcoin.

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Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #93 on: November 19, 2018, 06:13:04 PM »
One reason a decline in Bitcoin and/or Ethereum hurts all the alt coins is that most of them still do have to be bought with one or the other.

If I want to buy some NEXO (and I do, I really do) then I have to buy some BTC or ETH and wait for it to clear. ( I might break down and start using wire transfer, because you really do put yourself at risk just holding BTC long enough to buy what you really want....Coinbase takes 14 days to clear an ACH electronic bank transfer, which Ameritrade clears in less than a week. Just bad customer service.

If I did have more cash (still working on that, it is coming, but I got hit with an unexpected 30K tax bill yesterday too, so that doesn't help at all)...if I did have more cash it probably wouldn't be a stupid move to buy a bunch of ETH here at a 25% discount from 2 weeks ago, on the expectation of a bounce....or BTC, down to 4800 from 6500 a couple of weeks back.

But most people will wait to see if it bottoms before they start buying again....so nobody is buying alt coins right now, even though the prices are shockingly cheap.

The technical guy Nugget, the Aussie guy I just posted, is like most crypto people. His bias against banks and regular commerce makes him favor Stellar Lumen (open source) over XRP.  Typical bad decision, based on emotions and wanting the good guys to win.

Well, at least he knows how to trade.
« Last Edit: November 19, 2018, 08:09:41 PM by Eddie »
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Offline RE

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Re: How Blockchain Will Rule Your World
« Reply #94 on: November 19, 2018, 06:45:05 PM »
If I did have more cash (still working on that, it is coming

Where is this wad of cash magically coming from?  You get a big inheritance or something?

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Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #95 on: November 19, 2018, 08:05:43 PM »
I have some investments that are fairly liquid. Metals and whole life cash value. The missus has some bonds we bought a long time ago. Nothing huge.

Most of the time I try to keep a decent cash cushion, but we stretched a little to make this last house deal work. Just haven't had time to recover. I would just slowly build the crypto positions, but the current blood in the streets makes me feel like NOW is the best time to get in.

Nexo was at .17 a few weeks ago. Today it's .09. Just dirt cheap. The first real bank that takes crypto for collateral. It's a genius idea.
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Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #96 on: November 19, 2018, 08:07:59 PM »
Zero inheritance, me. All ill gotten gains from.....working my ass off for 30 years.
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Offline RE

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💸 Bitcoin and Ethereum fall to lows not seen since 2017
« Reply #97 on: November 20, 2018, 06:08:01 AM »
The future world rulers are not doing too well...

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https://arstechnica.com/tech-policy/2018/11/cryptocurrencies-hit-one-year-lows-amid-ongoing-bitcoin-cash-schism/

Bitcoin Crash —
Bitcoin and Ethereum fall to lows not seen since 2017
Every major cryptocurrency has seen its value plunge in recent days.

Timothy B. Lee - 11/19/2018, 7:39 AM
Bitcoin and Ethereum fall to lows not seen since 2017


Omar Marques/SOPA Images/LightRocket via Getty Images


Every major cryptocurrency was down sharply on Monday morning, with many hitting levels not seen since 2017.

Bitcoin fell below $5,100, a low not seen since October 2017. Ethereum's currency, ether, fell below $155—down 25 percent over the last week. Ether's value hasn't been this low since July 2017.

The weekend's losses are a continuation of last week's selloff.
Further Reading
Want to really understand how bitcoin works? Here’s a gentle primer

Nobody knows why the cryptocurrency market has turned into such a bloodbath—just as no one really knew why cryptocurrencies enjoyed such a spectacular rise a year ago. But it seems likely that one factor is the ongoing turmoil of Bitcoin Cash, the third most valuable decentralized cryptocurrency.

Bitcoin Cash was created in August 2017, when a dissident faction of Bitcoin supporters created their own rival version of the software. This version was incompatible with the mainstream version, creating two separate versions of the bitcoin blockchain with a shared transaction history—a situation known as a hard fork.

Last week, the Bitcoin Cash community experienced a second hard fork. Two factions within the Bitcoin Cash world couldn't agree on a proposed upgrade to Bitcoin Cash. Now there are two versions of Bitcoin Cash, dubbed Bitcoin Cash ABC and Bitcoin Cash SV.

Markets are waiting to see whether both versions survive as independent bitcoin-based networks. So far, the "ABC" variant has attracted a larger share of bitcoin miners, and futures markets have given it a higher value. In the coming days, miners in the Bitcoin Cash SV faction may decide that it's not worth the expense to continue operating an independent network—though they've shown no sign of doing that so far.

In theory, the Bitcoin Cash schism shouldn't affect other cryptocurrencies. But cryptocurrency markets are subject to a herd mentality. When one cryptocurrency falls, others tend to fall as well.

The acrimony in the Bitcoin Cash community may be reminding investors how fragile blockchain-based networks can be. No matter how the Bitcoin Cash schism ultimately works out, the episode is unlikely to bolster the Bitcoin Cash brand. There's a risk that technical disagreements or personality conflicts within other major blockchain networks could lead to similar splits, harming the long-term value of their cryptocurrencies.
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Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #98 on: November 20, 2018, 06:49:48 AM »
If you paid nothing, as some of these guys did, then 4K is still pretty good. They aren't hurting. It's the little guys who bought too high who are hurting.

For those who read me, please note that XRP is holding rock solid through this little shit hurricane. A paradigm shift is in progress.

I was finally able to sell the last Ethereum and Bitcoin I was holding on Gemini, and I'll be buying a bit of NEXO since it isn't a lot of money anyway, and NEXO at .0835 is just too attractive to resist.

I hope to catch a bottom or near-bottom on BTC and buy a small amount  to add more NEXO a bit later after it clears. Hopefully, Uphold is about to raise my deposit limit so I can make a big XRP buy at or near these levels.

I'm going to look into wire transfers to see if i can make these asset lock-ups a little shorter.
« Last Edit: November 20, 2018, 07:15:00 AM by Eddie »
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Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #99 on: November 20, 2018, 08:07:20 AM »
I think this is bullshit, but the pundits are all going gaga over XRP. You heard it from me first.

XRP Could Overtake Bitcoin By Weeks End

By Adrian Barkley   Nov 20, 2018   17315  7 Comments

The host of CNBC's Crypto Trader show, Ran NeuNer was once a very harsh critic of XRP but he has now predicted that at this rate, it will be at the number one spot for market cap by Friday.

 

Yesterday, 19th November 2018 was possibly the worst day for Bitcoin and the rest of the market across the whole year, as Bitcoin sunk below the $5,000 key resistance level for the first time since October 2017. Ether and Bitcoin Cash have lost around 14 percent and over 40 percent respectively over the past 24 hours and the rest of the big cryptocurrencies don't seem to be doing much better either.

 

Nevertheless as reported by CryptoGlobe, there was one ray of hope, one major crypto seemed to stay relatively stable and strong, XRP. The token is the second biggest cryptocurrency in the world at the current time of writing after it overtook Ethereum last week. There doesn’t seem to be any sign that Ethereum is about to take back the silver medal either.

 

It is starting to be noticed that XRP is performing quite admirably. The host of the CNBC Crypto Trader show used to be one of the harshest critics of XRP and during the middle of May this year he appeared as a guest on the Fast Money show also hosted by CNBC where NeuNer recommended selling XRP saying:

 

"I'm throwing it in the garbage... I can't find a use case for the token... I'm out."

 

However, the past six months he seems to have learnt a lot more about Ripple and XRP. This could be due to conversations with employees at Ripple such as the Chief Technology Officer David Schwartz and famous XRP fans such as Michael Arrington, the co-founder of digital asset management company Arrington XRP Capital. NeuNer seems to have changed his opinions as his hate for XRP has slowly but surely turned in love.

 

Over the weekend, NeuNer took to Twitter to make a comment which was most likely just a joke but it seems like now it could have been some of the best crypto advice the analyst has ever given.

 

“These hash wars highlight why everyone should dump BTC and BCH and just put all their money into XRP!”

 

In another later tweet, he said that he believes XRP will hit the number one spot by Friday:

 

At this rate XRP will be in the number 1 spot by Friday. pic.twitter.com/sPqOpVZrXQ

— Ran NeuNer (@cryptomanran) November 19, 2018


https://cryptodaily.co.uk/2018/11/xrp-could-overtake-bitcoin-by-weeks-end


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Offline roamer

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Re: How Blockchain Will Rule Your World
« Reply #100 on: November 20, 2018, 05:50:10 PM »
Haven't looked at my "portfolio" for a good long while. I'm probably in pennies on the dollar range though from peak.  At least sold off enough to recoup initial investment at peak.   In my estimation though this game is very very far from being anywhere mature.  Last time I looked not a single chain was close to scaling transaction speed anywhere close to where it needs to be, both bitcoins lightning and ethereums sharding approach didn't sound all that promising. XRP is a joke and centralized too.  Personally I bet the bank on alternative concurrently coded chains such as Rchain and tezos, not panning out and not even going to bother looking for a year or two more.

Offline RE

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Re: How Blockchain Will Rule Your World
« Reply #101 on: November 20, 2018, 05:58:59 PM »
Ya gotta know when to hold 'em, know when to fold 'em.

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Offline roamer

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Re: How Blockchain Will Rule Your World
« Reply #102 on: November 20, 2018, 06:07:26 PM »
RE, I'm no gambler and probably never will be.  Crypto investment was probably my only chance in this life to cash out with enough capital to do my doomstead dreams and I blew it.  My takeaway lessons though are beware of whale investors and their rigged game, which is to say the entire economy lol.

Offline RE

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Re: How Blockchain Will Rule Your World
« Reply #103 on: November 20, 2018, 08:22:56 PM »
RE, I'm no gambler and probably never will be.  Crypto investment was probably my only chance in this life to cash out with enough capital to do my doomstead dreams and I blew it.  My takeaway lessons though are beware of whale investors and their rigged game, which is to say the entire economy lol.

All market investing is gambling.  Like horse racing, some people are better at handicapping and can come out ahead more often.  But it's still gambling unless you rig the game somehow, like drugging the horse.  Big players at the top rig the game everywhere.  Small players generally get hosed.

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Online Eddie

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Re: How Blockchain Will Rule Your World
« Reply #104 on: November 21, 2018, 12:09:16 PM »
Haven't looked at my "portfolio" for a good long while. I'm probably in pennies on the dollar range though from peak.  At least sold off enough to recoup initial investment at peak.   In my estimation though this game is very very far from being anywhere mature.  Last time I looked not a single chain was close to scaling transaction speed anywhere close to where it needs to be, both bitcoins lightning and ethereums sharding approach didn't sound all that promising. XRP is a joke and centralized too.  Personally I bet the bank on alternative concurrently coded chains such as Rchain and tezos, not panning out and not even going to bother looking for a year or two more.

Ah, i was hoping you'd drop by, roamer.

Both you and RE said things in this exchange that are worth talking about. The sorts of things other people might say if they gave a shit about this thread, or were smart enough to get involved. There are a few readers, i believe, who might profit from the discussion.

First:

XRP is a joke and centralized too.

Ripple and XRP are not exactly one and the same, but they are related, obviously. Ripple, frankly, is absolutely killing it at the moment. They are an anti-joke. They are already successful and about to take over the world of international banking. They are first to market with a good product that works. Fast, and never been hacked.

XRP stands to appreciate based on the  idea that Ripple's xCurrent customers (many and growing by the day) will turn into xRapid customers. xRapid is the app that requires XRP. That isn't guaranteed, but it is part and parcel of Ripple's business plan. We'll see. So far they are executing really well.

And, XRP is fast (fast enough to be practical, anyway, where BTC and ETH are not), and has potential beyond a banking crypto. XRP transactions post damn quick. Try it. It's 3rd generation technology.

The fact that it isn't centralized does NOT matter, as far as it being a decent investment. That's a frequent thing people want to bring up, but there are two things about that worth mentioning.

On is that Ripple does not control XRP, or they won't, in the fullness of time, if and when it gets more use...so it will likely become more decentralized over time.... and secondly, the issue of not being decentralized bothers crypto nerds, because they are idealists who want crypto to stay true to some preconceived notions they have about freedom from banks and governments. Naďveté, basically.

I think the main reason it's still this cheap is that people look at the large supply, and want to compare that to BTC, with its 21M total coins and think XRP is diluted. This is erroneous thinking, based on ignorance. XRP is not mined.The total amount created was chosen for good reasons. Most of it is locked up.

Comparing mined vs. unmined coins as to what stock traders consider "the float" is comparing apples and oranges.  Meanwhile BTC miners are going bankrupt this week. Big ones. 

And BTC will have to fork over and over ad infinitum. 21M coin is not enough. It will get diluted, one way or another, and the way the miners control that part of it is highly dysfunctional, this last week being a case in point.

XRP was looking like it would break out until the Bitcoin Cash fork last week. My view is the the market is currently way oversold and will probably bounce.


And NEXO

Nexo is a bank. They loan loan money on crypto assets. They have an excellent business model, and they are a pioneer company in a space with huge, huge potential.

They pay interest on stablecoins, currently 6.5% to people with accounts over 100K. That's one piece.

A second piece is that they loan ANY fiat you want, dollars, euros, yen, rupees, whatever, against crypto deposits in their secure wallet. This allows people who happen to have huge crypto gains to borrow instead of cashing out, which means they owe NO taxes on that spending money.

The way I read the fine print, there is a way you can borrow the money at 8% and still collect 6.5% on your stablecoin deposits. (this requires making your loan payments in NEXO, but that doesn't add cost). This is a HUGE potential tax dodge for high net worth crypto people.

Plus, one problem of turning fiat into alt coins is that you almost always have to buy ETH or BTC and then trade somewhere for what you want.

This week that cost me maybe $1000, on a very small portfolio, because Gemini and and Coinbase both had my funds tied up until my bank transfers cleared, so I had to ride them down.

If i put my cash into stablecoins on Nexo, i make interest and that gives me a "cash equivalent" trading account to spend on trades, or to add to my favorite long term picks when the market is down, like now.

And NEXO is a real chartered bank, fully audited, and they GUARANTEE the stablecoins they accept against loss of value. Huge.


Factom broke out this week while BTC was falling through the floor. Because they are a pioneer in bringing blockchain to real estate. Real estate transactions and title insurance are going to be completely disrupted by blockchain. I'm not buying Factom right now, but it's a good example of the kind of thing that appeals to me.

So many people, even big players in crypto, are to attached to their fantasies of peer-to-peer, to micro-lending, helping the unbanked  people of the 3rd world, etc, etc, yada, yada. Once again its naiveté, and a product of delusional thinking by these accidental billionaires who want to be social justice warriors.

All market investing is gambling.  Like horse racing, some people are better at handicapping and can come out ahead more often.  But it's still gambling unless you rig the game somehow, like drugging the horse.  Big players at the top rig the game everywhere.  Small players generally get hosed.

I don't disagree with this. Crypto is now right on the verge of going mainstream. It will be the next big Wall Street hustle. Because now you have BTC futures. Just recently, and now the market is getting volatile after months of stagnation. That is NOT an accident.

Next year we will almost certainly see crypto ETF's come online and Fidelity has just opened a trading center for deep pocket institutional clients so pension funds can get into crypto. BlackRock is now getting into crypto. Lots of high net worth people are about to jump in with both feet.

The coming equities crash (not even here yet, don't think it is ,cuz it ain't, not yet) will lead to a big rotation into crypto, because people who know the real truth know stocks are done, and it's time to find something else.

Crypto is that something else. First new asset class in over a hundred years.

But the Masters of the Universe will manipulate crypto just exactly like they have done gold for 20 plus years. You can't be in love with your cryptos like people fall in love with their FAANG stocks. Holding cryptos that have had substantial price appreciation forever is not recommended. Not by me.





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