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Old January 13th, 2019 #61
Emily Henderson
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Default Interesting Comparison

One thing I know with re to the bill they passed in Australia: it affects crypto holders all over the globe right now, with re to security.

That's because it allows the tech companies to enable encryption backdoors on their devices and apps, and it allows agencies who operate 'in the shadows' to install key-loggers, spying software, etc. to do 'routine operating system updates'. So it affects all users of mobile technologies who might engage them.

This is a disparaging article re Bitcoin, but it makes an important point, correctness to be determined by the reader's noggin:

"To work as intended, the bitcoin system requires atomistic competition on the part of the miners who validate transactions blocks in their search for newly minted bitcoins. However, the mining industry is characterized by large economies of scale.

Indeed, these economies of scale are*so*large that the industry is a natural monopoly. The problem is that atomistic competition and a natural monopoly are inconsistent: the built-in centralization tendencies of the*natural*monopoly mean that mining firms will become bigger and bigger – and eventually produce an*actual*monopoly unless the system collapses before then.

The implication is that the bitcoin system is not sustainable. Since what cannot go on will stop, one must conclude that the bitcoin system will inevitably collapse. The only question is when."

https://www.coindesk.com/bitcoin-wil...-bite-the-dust

^^But what I'm seeing with the new coins is they are mostly scams that claim to have surpassed Bitcoin in speed and what-not.

Example might be Apollo, it makes this claim but look up their CEO. He had a Kickstarter campaign to look for lizards in the Congo.

He got $29K and allegedly never went, no lizards, and no refund.

He's a zoology expert....now a Crypto expert.

So which thing will actually surpass Bitcoin, if any? That is one thing to recognize might happen, while in the meantime it has not worked out that way for any of them.

If you're going to buy Bitcoin at all, it's good to follow certain do's and don'ts, like not buying it with gift cards and not trading it for cash with a corporate supplier--there is no such thing as 100% safe.

IMO this is the simplest way if someone just wants to buy some and hang on to it:

Use Bonpay.

Buy Bitcoin with bank account wire transfer. In around 3 days it'll be received and they'll hold it for 30, and you convert your $ to BTC.

https://bonpay.com/blog/safest-way-buy-bitcoin/

Crypto ATMs can and have been scams, as the article states. I know there was a legit one in Austin at Brave New Books, and there's one in Saskatchewan that is real, lol. I'm sure those aren't the only options. Look them up and see how long they've been there.
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Old January 23rd, 2019 #62
Alex Linder
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good post, Emily, I will check that out.
 
Old January 23rd, 2019 #63
Alex Linder
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the biggest financial picture (mostly from keiser)

so all these countries are hugely in debt, US being worst.

gold + crypto (bitcoin most likely) to replace dollar as reserve currency

china and russia are amassing gold. and russia is producing gold more than before. otherwise, gold-actual-production is flat to declining, if i have that right.

the market gold price is not based on the actual bullion but on paper - all sorts of bullshit derivatives created and traded by the same sort of scamsters who brought us the packaged bad-mortgage instruments

so gold and silver (very low right now) and BitCoin look like good investments

this is what i'm hearing and agree with, as i (always) learn more
 
Old January 26th, 2019 #64
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Samsung putting a crypto wallet on their phone.

would seem to drive mass use
 
Old January 26th, 2019 #66
Michael G
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Personally I am pro cryptocurrency and partake in it. With the down turn I sold a few graphics cards but still have 8 GPU, an S9, and L3+ running.

People can crap all over bitcoin if they want but I think their opinion would change and will change as it advances and they use it. I sent 2000$ USD to China for 0.06$ with out having to ask a bank or seek permission. Is it perfect, nope, but it is software and will improve. In the mean time I will continue to mine it and make the odd trade.

It will be interesting to see where it goes but I suspect it will earn a place in many portfolios as time progresses. Just wish I had a better income and could stack up more gold, silver, and bitcoin.
 
Old January 27th, 2019 #67
Alex Linder
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Bitcoin no longer worth the mining cost, JPMorgan says
BY KATE GIBSON

UPDATED ON: JANUARY 25, 2019 / 5:52 PM / MONEYWATCH


If a dystopian future is indeed ahead, investors and companies may want to have more of a plan than merely mining cryptocurrencies.

On average, the cost of creating a Bitcoin amounted to $4,060 globally in the fourth quarter, more than the value of Bitcoin, now trading for less than $3,600, according to John Normand, head of cross-asset strategy at JPMorgan Chase, who on Thursday released in a wide-ranging report on cryptocurrencies. In other words, the cost of mining Bitcoin is far outstripping what miners can fetch on the market.

"Prices had declined to a point where mining became uneconomical for some miners, who have responded by turning their mining rigs off," Norland noted.

That's not to say the equation doesn't make sense for some, with Chinese miners able to pay far less -- about $2,400 for each Bitcoin -- by making deals with electricity producers such as aluminum smelters with surplus power, the analysts found.

"The drop in Bitcoin prices from around $6,500 throughout much of October to below $4,000 now has increasingly pushed margins further and further negative for just about every region except low-cost Chinese miners," wrote the analysts, who noted their cost projections could be tilted high because of iffy data and conservative assumptions.

The negative margins will likely lead to more producers heading for the exits, a scenario that could push prices down for those who remain, because they would garner a bigger stake of Bitcoins for the same level of energy consumption. If only low-cost Chinese miners stay in the game, the marginal costs could fall to less than $1,260 for each Bitcoin, the analysts wrote.

At the same time, wild price swings make cryptocurrencies a less than ideal way of setting aside value, said Normand.

"We have long been skeptical of cryptocurrencies' value in most environments other than a dystopian one, characterized by a loss of faith in all major assets (dollar, euro, yen, gold) and in the payments system," he wrote. "Developments over the past year have not altered our reservations about these assets' role in global portfolios, even if their novelty value can remain high indefinitely."
 
Old January 27th, 2019 #68
Alex Linder
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Quote:
Originally Posted by Michael G View Post
Personally I am pro cryptocurrency and partake in it. With the down turn I sold a few graphics cards but still have 8 GPU, an S9, and L3+ running.

People can crap all over bitcoin if they want but I think their opinion would change and will change as it advances and they use it. I sent 2000$ USD to China for 0.06$ with out having to ask a bank or seek permission. Is it perfect, nope, but it is software and will improve. In the mean time I will continue to mine it and make the odd trade.

It will be interesting to see where it goes but I suspect it will earn a place in many portfolios as time progresses. Just wish I had a better income and could stack up more gold, silver, and bitcoin.
What's your method for buying and storing BC, if you care to reveal it?
 
Old January 27th, 2019 #70
Alex Linder
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"if there was a BitCoin office there'd already be a SWAT team in there"

point is: BitCoin (or some other crypto) vs central banking. which = inflation = endless wars = endless impoverishment of people and strengthening of top jews

bit coin can destroy cental banks' fiat money if can get to where it used for daily transactions
 
Old January 28th, 2019 #72
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interesting what ceo of overstock (a white guy, not jew) says near very end. that bitcoin will be added as option many places this year, eventually all the stuff on top of bitcoin will wither away... meanwhile price dropped some. most of the coverage of BC is micro-attention to current price which is not worth worrying about, just drive you nuts

 
Old January 28th, 2019 #73
Michael G
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Quote:
Originally Posted by Alex Linder View Post
What's your method for buying and storing BC, if you care to reveal it?
I just mine and pay for electricity. Due to conversion rates and electricity it is basically a break even process at the moment possibly even a slight loss. Only sold to a website called www.Canadianbitcoins.com when near the highs but also setup to sell to a company www.quadriga.ca I would buy from these sources also if money allowed. Usually send the mining rewards to an exchange and when they are at a decent chunk, approximately .1BTC, send it to a Ledger Nano S.
 
Old January 29th, 2019 #74
Alex Linder
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Quote:
Originally Posted by Michael G View Post
I just mine and pay for electricity. Due to conversion rates and electricity it is basically a break even process at the moment possibly even a slight loss. Only sold to a website called www.Canadianbitcoins.com when near the highs but also setup to sell to a company www.quadriga.ca I would buy from these sources also if money allowed. Usually send the mining rewards to an exchange and when they are at a decent chunk, approximately .1BTC, send it to a Ledger Nano S.
Thanks for you response.

I'm not looking to mine, I purely looking for an explanation of how to buy and store bitcoin, whichever way(s) are easiest and most secure.
 
Old January 29th, 2019 #75
Alex Linder
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It's obvious if you buy something and leave it on an exchange, the exchange can freeze or steal you bc for no reason other than politics. Ie, same as rest of online world.
 
Old January 29th, 2019 #76
Michael G
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Quote:
Originally Posted by Alex Linder View Post
Thanks for you response.

I'm not looking to mine, I purely looking for an explanation of how to buy and store bitcoin, whichever way(s) are easiest and most secure.
I would just sign up for Coinbase.com and/or Gemini as an American and store it on a trezor or ledger. If you're worried about the government being given your information use one of the previous listed non American websites.

Mining is cool but I can understand not wanting to dick around with it. I would have done better just buying the BTC 😎
 
Old February 2nd, 2019 #77
Michael G
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As Alex said two posts back exchanges are dangerous. The Quadriga one I was signed up for lost everything, didn't lose my stuff as I don't keep it on an exchange for the most part but there is no doubt lots of upset people. Always keep the bulk of your cryptos stored on a wallet you control.
 
Old February 3rd, 2019 #78
Alex Linder
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Quote:
Originally Posted by Michael G View Post
I would just sign up for Coinbase.com and/or Gemini as an American and store it on a trezor or ledger. If you're worried about the government being given your information use one of the previous listed non American websites.

Mining is cool but I can understand not wanting to dick around with it. I would have done better just buying the BTC ��
I'm not smart enough to mine BitCoin, let's not kid ourselves.

Let me know if this is right:

IF I (or anyone) acquires BC via Coinbase or Gemini

we can store it on Trezor or ledger

and (key part) Coinbase or Gemini can't mess with it.

Is that correct?

They could ban the account, as they have others, but not stop us from having the BitCoin.
 
Old February 18th, 2019 #79
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Correct... FWIW, I bought some BTC @ 3600 and ETH @ 117 , first buy in a year. Weekly MACD signal, reliable signal. Maybe just a flip, or a meaningful low
Impossible to tell right now. First real setup in a long time.
 
Old February 21st, 2019 #80
Alex Linder
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exceptionally good Keiser report. if you're White, you need to understand this stuff. the key is, now is the time to be in gold and BitCoin. the real estate and stocks are going to crash before too long. then it will be time to buy - AFTER they crash, as in 2008.

the whole global economy is bullshit based on JEWS owning CENTRAL BANKS and PRINTING MONEY that is BONDS that are DEBT that has to be REPAID by WHITE TAXPAYERS but CANT BE. it's too much. so the bondholders will get screwed. so they are recognizing this and the smart countries are keeping debt in control and moving to GOLD themselves. what central banks are doing under jews is a ponzi scheme and there's no way to wind it down, it just ultimately results in the collapse of the currency to valuelessness. all paper money in time becomes worthless. dont get caught out.

 
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