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  1. #1
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    For cryptocurrency fans

    Suggest taking a long look at the al coin market before dumping anything else in BTC. Particularly XRP/ripple.

    There is no logic, basis, or whatever other than blind bets. However it did cross a key market cap that will give it some amperage behind the volts.
    Facts?? We don't need no stinkin facts...

  2. #2
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    I have been looking at it from multiple perspectives. One being a software engineer, I find the technology and possible uses for it highly intriguing. From a more practical point of view I have invested in some stocks implementing various forms of the technology and I am looking into building a mining rig to play with and see if I can make a few dollars (I won't be mining bitcoin as that boat has already sailed unless you have really deep pockets).

  3. #3
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    I've no intention of getting back into mining like I did in the early days of BTC. I did place a blind bet of 60 bucks on it in January (along with some others).

    I don't know much about this one as I primarily follow ETH/BTC/LTC so I'd be interested in your take on the tech you mentioned?
    Facts?? We don't need no stinkin facts...

  4. #4
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    Quote Originally Posted by Rayku View Post
    I've no intention of getting back into mining like I did in the early days of BTC. I did place a blind bet of 60 bucks on it in January (along with some others).

    I don't know much about this one as I primarily follow ETH/BTC/LTC so I'd be interested in your take on the tech you mentioned?
    One aspect that is already being used in Switzerland I believe is to replace title searches and the need for title insurance. As the chain is immutable once the deed is recorded and every transfer there after is add to the chain there is a permanent record and audit trail so you never need to pay for title insurance again. Or it could be a simple as maybe an automotive maintenance record for each vehicle produced as well as tracking it through each phase of the assembly process.

    Also it is being implement in Saudi Arabia I believe (one of those countries in that area) for oil contracts and logistics. I read a couple of days ago that Amazon was purchasing domains that may be related to an Amazon token and the uses there could entail things like a discount for making purchases on Amazon with the Amazon coin.

    There are tons of different projects going on utilizing it in many different ways. There is a social network that is placing all of there content and comments into the block chain and because it is distributed no central authority (Google) will be able to remove the content because it doesn't fit their point of view. And if the Pentagon had been using this technology it wouldn't be missing 4-6 trillion dollars as the distributed ledger would have shown where the money went.

    And I have really only started digging into this in the past few months. I remember when I read the first article about bitcoin came out and I said, "Hey, that is neat but it will never catch on" and now I am kicking myself in the arse because I had an opportunity to get on board early and retire young based on current market value.

  5. #5
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    Thanks for your reply, certainly something to chew on.
    Facts?? We don't need no stinkin facts...

  6. #6
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    It's finally pulling back. Where it pulls back to will be telling.
    Facts?? We don't need no stinkin facts...

  7. #7
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    I am kicking myself in the arse

    Be sure and save some unbruised arse for the Next Big Thing that comes along that you also miss out on . There WILL be others.
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  8. #8
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    Quote Originally Posted by Dozdoats View Post
    I am kicking myself in the arse

    Be sure and save some unbruised arse for the Next Big Thing that comes along that you also miss out on . There WILL be others.
    Yeah, but now days I try to make at least a few small bets on ideas that may fail but seem neat. As to the unbruised arse well bruises heal so you can reapply said foot as needed.

  9. #9
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    Quote Originally Posted by Dozdoats View Post
    I am kicking myself in the arse

    Be sure and save some unbruised arse for the Next Big Thing that comes along that you also miss out on . There WILL be others.
    Anyone that says they didn't miss the boat on more than one occasion has issues with telling the truth. RLM is stating a good strategy, sometimes long plays deliver, but you don't want to lay out the farm playing it.
    Facts?? We don't need no stinkin facts...

  10. #10
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    Quote Originally Posted by Rayku View Post
    Suggest taking a long look at the al coin market before dumping anything else in BTC. Particularly XRP/ripple.

    There is no logic, basis, or whatever other than blind bets. However it did cross a key market cap that will give it some amperage behind the volts.
    Here's a nice website for all of them:

    https://coinmarketcap.com/all/views/all/

    # Name Symbol Market Cap Price Circulating Supply Volume (24h) % 1h % 24h % 7d
    1 Bitcoin BTC $277,970,442,225 $16,603.80 16,741,375 $13,601,400,000 0.23% 0.86% -1.64%

    2 Ethereum ETH $65,988,099,911 $684.96 96,339,181 $3,837,020,000 1.94% -0.44% 58.94%

    3 Bitcoin Cash BCH $31,899,651,776 $1,892.51 16,855,738 $2,525,150,000 3.22% 18.97% 41.77%

    4 Ripple XRP $31,015,450,365 $0.800623 38,739,144,847 * $5,679,210,000 -1.67% 69.46% 248.03%
    It's a lot like penny stocks at this point.
    Last edited by Sub-Zero; 12-14-2017 at 03:49 PM.
    Sub-Zero

  11. #11
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    Also, does Max Keiser have a crypto currency?

    Edit: He does: https://coinmarketcap.com/currencies/maxcoin/
    Sub-Zero

  12. #12
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    Anyone that says they didn't miss the boat on more than one occasion has issues with telling the truth.

    I've missed a number of boats so far, and fully expect to miss more. But I have also missed some sinking ships as well.

    I cut my teeth on the resource market learning by paper trading, when a company called Bre-X was The Big Thing.

    http://www.businessinsider.com/bre-x...donesia-2012-7
    BRE-X: Inside The $6 Billion Gold Fraud That Shocked The Mining Industry
    Sam Ro
    Jul. 1, 2012, 5:22 AM 2,102,206

    Chart at
    http://www.visualcapitalist.com/bre-...tory-timeline/
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  13. #13
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    Quote Originally Posted by Dozdoats View Post
    Anyone that says they didn't miss the boat on more than one occasion has issues with telling the truth.

    I've missed a number of boats so far, and fully expect to miss more. But I have also missed some sinking ships as well.

    I cut my teeth on the resource market learning by paper trading, when a company called Bre-X was The Big Thing.

    http://www.businessinsider.com/bre-x...donesia-2012-7
    BRE-X: Inside The $6 Billion Gold Fraud That Shocked The Mining Industry
    Sam Ro
    Jul. 1, 2012, 5:22 AM 2,102,206

    Chart at
    http://www.visualcapitalist.com/bre-...tory-timeline/
    I remember that one. Many a pooch were molested on that deal.
    Facts?? We don't need no stinkin facts...

  14. #14
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    Yep.

    But the lead geologist taking a long walk out of a short helicopter was the first clue most folks had.

    https://www.amazon.com/Speculator-Hi...eculator+casey is a fun read.

    https://www.amazon.com/Nobody-Knows-...knows+anything is also well worth reading.
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  15. #15
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    Quote Originally Posted by Dozdoats View Post
    Yep.

    But the lead geologist taking a long walk out of a short helicopter was the first clue most folks had.

    https://www.amazon.com/Speculator-Hi...eculator+casey is a fun read.

    https://www.amazon.com/Nobody-Knows-...knows+anything is also well worth reading.
    Interesting part to me was how many supposed experts bought into it. No one stopped to think about the geological surveys of the general area nor a cross reference to the required geology to support the claims they made. They just ran with what a handful of 'experts' said and damn the torpedoes without ever looking into themselves. Of course everyone downstream of the operation only ever saw glowing reports and spreadsheets.
    Facts?? We don't need no stinkin facts...

  16. #16
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    Interesting thread Rayku; Here's some dumb luck for you: I got in to btc in September in a smallish way then in a bit larger way in early December. I've been tracking about 15 of them everyday for months always trying to keep it all in my head. I noticed Ripple(XRP) beginning to move late last week and started to do some research on what might be going on.

    Of course then I forgot about it until I caught an interesting post on one of the "unmentionable" sites yesterday afternoon. It was about some announcement concerning XRP getting involved with Amazon, Air Bnb, and a couple other household names, so I decided this must be it and pushed a fair amount into it. Went to bed early, got up early, got busy at work and didn't check it until noon. WTF! I got in at .42 and by the time I got home and transferred back into btc it was .86. After the fees I made 99-100% profit in 21 hours.

    I've made some good investing decisions over the years-and some bad-but nothing has ever gone this fast, I'm still in disbelief. Now I have almost a whole coin-for doing nothing in meat world-just taking an unqualified risk.

    I found the thread again today at the unmentionable site. If any of you want the link just PM me and I'll gladly send it over to you.
    I'd rather be paranoid, prepped and wrong than be irrationally happy, frivolous and screwed.

  17. Cryptocurrency isn’t going anywhere. Nor is Bitcoin like “tulips.” The reason is, there’s only a finite number of Bitcoin. If anyone is new to this or doesn’t really understand cryptos, here’s an awesome podcast episode by The Survival Podcast — “Crytpocurrency: Understanding the Current State of Affairs.”

    (Edited to add the time stamped table of contents for this podcast):

    What is Crypto Currency / Crypto Intro: 14:18

    Disclaimer: 20:08

    1 – What the hell is Litecoin? – 21:50

    2 – Hints or tips to start accepting crypto for a small business / Is Swarm City an easy option? – 28:12

    3 – Is it possible for a newbie to create an anonymous wallet and how? – 31:36

    4 – How to do it anonymously / Why the IRS is going after Coinbase? – 36:31

    5 – How do we safeguard against another Mt. Gox type theft? – 41:24

    6 – Other than being a pure currency, how is crypto being used? Smart Contrancts/Use Case? – 43:51

    7 – How can I move away from coinbase as a means of exchanging crypto to fiat and back? – 52:09

    8 – Can bitcoin get past it’s high fees and long transaction times? – 55:49

    9 – Do planned bitcoin forks reduce bitcoins future potential value more than the bitcoin cash fork did or is this a good thing? – 1:03:07

    10 – With the new threshold for IRS reporting, will a deposit and a crypto purchase be counted double? – 1:09:25

    11 – With the skyrocketing price of bitcoin and others, what is the correct play for those of us that have procrastinated in entering crypto? – 1:16:32

    12 – Other than Bitcoin what are the 3 big crypto currencies and why? – 1:23:20

    13 – Could you analyze crypto like a stock? How would you do so? – 1:35:50

    14 – Can you tell us about Aeon and more on why you like and reccommend it? – 1:39:44

    15 – Power consumption of bitcoin mining? – 1:53:28

    16 – Why do you see different prices across different outlets/exchanges? – 1:54:25

    17 – Is it too late to get into mining lesser know coins? Is this price jump a bubble that will pop or a sustained price that allows opportunities of lesser known coins? – 1:58:34

    18 – What are some introductory practical crypto resources to point interested family members to? – 2:06:13

    19 – How many different currencies to hold in order to diversify? – 2:08:39

    20 – What is the best place for news in regard to crypto currencies – 2:10:43

    21 – Explain crypto cash – 2:18:15

  18. #18
    I suspect that only a few folk will find and read this book (there are pdf copies floating around the web).

    This book isn't purely a tie into crypto currency, but it is insite into the potential of it among other things and where the free folk are moving towards.

    The name is:

    A Lodging of Wayfaring Men

    The premise is what if people were able to evolve a means of trading and working together beyond the reach of big brothers omnipresent eyeballs.

    Worth sticking your time into hunting it up if you have eyes to see and ears to hear and the patience to seek and find, ask and receive.

    God Bless
    Dosadi

    III


    My family & clan are my country.

  19. #19
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    Quote Originally Posted by Rayku View Post
    Suggest taking a long look at the al coin market before dumping anything else in BTC. Particularly XRP/ripple.

    There is no logic, basis, or whatever other than blind bets. However it did cross a key market cap that will give it some amperage behind the volts.
    XRP isn't anonymous, am I correct?
    Sub-Zero

  20. #20
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    Quote Originally Posted by Dosadi View Post
    I suspect that only a few folk will find and read this book (there are pdf copies floating around the web).

    This book isn't purely a tie into crypto currency, but it is insite into the potential of it among other things and where the free folk are moving towards.

    The name is:

    A Lodging of Wayfaring Men

    The premise is what if people were able to evolve a means of trading and working together beyond the reach of big brothers omnipresent eyeballs.

    Worth sticking your time into hunting it up if you have eyes to see and ears to hear and the patience to seek and find, ask and receive.

    God Bless
    I wish I had more time. https://www.amazon.com/Lodging-Wayfa.../dp/097960110X
    I'd rather be paranoid, prepped and wrong than be irrationally happy, frivolous and screwed.

  21. #21
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    Quote Originally Posted by Sub-Zero View Post
    XRP isn't anonymous, am I correct?
    Still waiting for Rayku to comment and I defer to him; However I don't think it is anon. that's why everyone should keep a ledger of transactions. .gov needs to get payed like everybody else when it's tax time. btc used to be blamed for all the dark web transaction stuff, but I don't believe it was ever part of it. Monero is untraceable and the one likely used now. So stay away from that one imho.
    I'd rather be paranoid, prepped and wrong than be irrationally happy, frivolous and screwed.

  22. #22
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    Quote Originally Posted by Sub-Zero View Post
    XRP isn't anonymous, am I correct?
    Not entirely no. I've read all the arguments for BTC and it being anonymous, but full anonymity is why BTC is going to die long before quantum computation cracks it open. BTC fans will argue that with circular logic until they are frothing at the mouth, but it won't change the reality.

    I'll give you a play by play how that's going to go/went.

    1. Multiple hacks of various stages.
    2. Financial markets will start treating it as a debt instrument to include futures, derivatives, and currencies.
    3. The demonization campaign begins. Multiple stories of it being used to fund crime and terrorism will pop up with ever increasing frequency.
    4. After sufficient time at number three, .gov begins hearings, FTC starts shifting the CFR against it.
    5. Due to market moves created by 1-4, some poor slobs whose IQ can be counted on their hands and feet will be paraded in front of cameras crying the blues about how they are homeless now.
    6. .Gov steps in with regulations effectively restricting open trade in none approved cryptocurrencies.
    7. Use of fully anonymous cryptocurrencies is criminalized shutting down the exchanges.
    1-7 sends the price into the toilet.

    ETH, XRP and other semi anonymous cryptocurrencies slide under the radar while that's going on.

    Electronic currencies/cryptocurrencies are the wave of the future, but they haven't settled in yet. BTC unfortunately is already getting a lot of the wrong kind of attention as it is. Anyone with an open mind should see that writing on the wall.

    People are of course free to make up their own minds, that is my personal take on it.
    Facts?? We don't need no stinkin facts...

  23. #23
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    Quote Originally Posted by Great Northwet View Post
    Still waiting for Rayku to comment and I defer to him; However I don't think it is anon. that's why everyone should keep a ledger of transactions. .gov needs to get payed like everybody else when it's tax time. btc used to be blamed for all the dark web transaction stuff, but I don't believe it was ever part of it. Monero is untraceable and the one likely used now. So stay away from that one imho.
    Yes. I've been researching it so that I can discuss it intelligently. Most of these you need to register your name with a government ID (driver's license) as well as a phone number and email address.
    Sub-Zero

  24. #24
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    Quote Originally Posted by Rayku View Post
    Not entirely no. I've read all the arguments for BTC and it being anonymous, but full anonymity is why BTC is going to die long before quantum computation cracks it open. BTC fans will argue that with circular logic until they are frothing at the mouth, but it won't change the reality.

    I'll give you a play by play how that's going to go/went.

    1. Multiple hacks of various stages.
    2. Financial markets will start treating it as a debt instrument to include futures, derivatives, and currencies.
    3. The demonization campaign begins. Multiple stories of it being used to fund crime and terrorism will pop up with ever increasing frequency.
    4. After sufficient time at number three, .gov begins hearings, FTC starts shifting the CFR against it.
    5. Due to market moves created by 1-4, some poor slobs whose IQ can be counted on their hands and feet will be paraded in front of cameras crying the blues about how they are homeless now.
    6. .Gov steps in with regulations effectively restricting open trade in none approved cryptocurrencies.
    7. Use of fully anonymous cryptocurrencies is criminalized shutting down the exchanges.
    1-7 sends the price into the toilet.

    ETH, XRP and other semi anonymous cryptocurrencies slide under the radar while that's going on.

    Electronic currencies/cryptocurrencies are the wave of the future, but they haven't settled in yet. BTC unfortunately is already getting a lot of the wrong kind of attention as it is. Anyone with an open mind should see that writing on the wall.

    People are of course free to make up their own minds, that is my personal take on it.
    I agree. The ones the government cannot take their Vig's share of will be crushed, but only after they figure out how to confiscate every last coin.
    Sub-Zero

  25. #25
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    So, would you mind giving us a step-by-step on the wallets and how to purchase? I think it's extremely interesting.

    Also, how do the electric, USB wallets work.

    As well, any exchanges and wallets to shun.
    Sub-Zero

  26. #26
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    Quote Originally Posted by Sub-Zero View Post
    So, would you mind giving us a step-by-step on the wallets and how to purchase? I think it's extremely interesting.

    Also, how do the electric, USB wallets work.

    As well, any exchanges and wallets to shun.
    I would recommend nano s for the hardware wallet.
    https://www.ledgerwallet.com/products/ledger-nano-s

    Once done, find an exchange. For XRP I used Kraken to buy it.
    https://ripple.com/xrp/how-to-buy-xrp-on-kraken/
    Only downside there is you lose some in transfer as they require bitstamp first last I dealt with FRN buy in.

    Do not use your debit or credit card. Use visa cards from walmart to make the initial purchase of ETH LTC XRP and others. You will lose some up front doing that, but damned if I would put my bank info on it. I held BTC which I used to trade directly but kraken and some others will let you put an initial stake in with FIAT.

    You can also research it online, there are multiple sites out there. Above is how I would suggest doing it if your just starting.
    Regarding the wallets, there are multiple versions out there but as stated my preference is nano s. I suggest staying away from desktops and apps for security purposes. You'll find the how to use it in the link.

    Suggest staying away from Chinese based exchanges. Kraken and Korbit are the ones I work with the most. There are multiple exchanges out there, but I can't speak for what I don't use.
    Facts?? We don't need no stinkin facts...

  27. #27
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    Quote Originally Posted by Great Northwet View Post
    Interesting thread Rayku; Here's some dumb luck for you: I got in to btc in September in a smallish way then in a bit larger way in early December. I've been tracking about 15 of them everyday for months always trying to keep it all in my head. I noticed Ripple(XRP) beginning to move late last week and started to do some research on what might be going on.

    Of course then I forgot about it until I caught an interesting post on one of the "unmentionable" sites yesterday afternoon. It was about some announcement concerning XRP getting involved with Amazon, Air Bnb, and a couple other household names, so I decided this must be it and pushed a fair amount into it. Went to bed early, got up early, got busy at work and didn't check it until noon. WTF! I got in at .42 and by the time I got home and transferred back into btc it was .86. After the fees I made 99-100% profit in 21 hours.

    I've made some good investing decisions over the years-and some bad-but nothing has ever gone this fast, I'm still in disbelief. Now I have almost a whole coin-for doing nothing in meat world-just taking an unqualified risk.

    I found the thread again today at the unmentionable site. If any of you want the link just PM me and I'll gladly send it over to you.
    Glad it worked out for you. I was expecting sharp pull back to .60 or so then again .50 or .45 when the Chinese woke up (they favor LTC), but the pull back sits at .73 with the Europeans waking up now and past lunch in most of China. Could yet be proven wrong but the bull might well run again when America's are up with the Euros.

    Will find out soon enough.
    Facts?? We don't need no stinkin facts...

  28. #28
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    Should have bought in on the $2 Zimbabwe 100 trillion dollar notes. Selling now for 20-40 times their original cost.

  29. #29
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    Kind of you to say Rayku. Your post #26 While I won't disagree with the Ledger, the Trezor is also a good option for dumb people like me(ease of use).

    -Everyone take his advice on the same post. I know quite a bit. He knows more.
    I'd rather be paranoid, prepped and wrong than be irrationally happy, frivolous and screwed.

  30. #30
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    Quote Originally Posted by Rayku View Post
    I would recommend nano s for the hardware wallet.
    https://www.ledgerwallet.com/products/ledger-nano-s

    Once done, find an exchange. For XRP I used Kraken to buy it.
    https://ripple.com/xrp/how-to-buy-xrp-on-kraken/
    Only downside there is you lose some in transfer as they require bitstamp first last I dealt with FRN buy in.

    Do not use your debit or credit card. Use visa cards from walmart to make the initial purchase of ETH LTC XRP and others. You will lose some up front doing that, but damned if I would put my bank info on it. I held BTC which I used to trade directly but kraken and some others will let you put an initial stake in with FIAT.

    You can also research it online, there are multiple sites out there. Above is how I would suggest doing it if your just starting.
    Regarding the wallets, there are multiple versions out there but as stated my preference is nano s. I suggest staying away from desktops and apps for security purposes. You'll find the how to use it in the link.

    Suggest staying away from Chinese based exchanges. Kraken and Korbit are the ones I work with the most. There are multiple exchanges out there, but I can't speak for what I don't use.
    So, what do you think of paper wallets? If there would be Ripple XRP in it, it can be transferred to a Ledger device later on, correct?
    Sub-Zero

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    Quote Originally Posted by Sub-Zero View Post
    So, what do you think of paper wallets? If there would be Ripple XRP in it, it can be transferred to a Ledger device later on, correct?
    I don't trust it. It sounds good on paper (no pun intended), but you still end up going hot or cold storage with risk or translation error in both directions. Yes they can be imported at a later date.
    Since I don't use them, I'm not well practiced with the how to.
    Facts?? We don't need no stinkin facts...

  32. #32
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    Quote Originally Posted by Rayku View Post
    I don't trust it. It sounds good on paper (no pun intended), but you still end up going hot or cold storage with risk or translation error in both directions. Yes they can be imported at a later date.
    Since I don't use them, I'm not well practiced with the how to.
    OK. Good to know, because some people say they are the most secure way. Can a regular USB device be used as a wallet? I would think so, as Ledger appears to be a fancy one with its own security features.
    Sub-Zero

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    Quote Originally Posted by Sub-Zero View Post
    OK. Good to know, because some people say they are the most secure way. Can a regular USB device be used as a wallet? I would think so, as Ledger appears to be a fancy one with its own security features.
    It's all data 0's and 1's in the end. Anything that stores data can theoretically be used. I wouldn't advise it though.
    Facts?? We don't need no stinkin facts...

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    To reiterate and clarify something I've stated in another thread here. At their heart, cryptocurrencies are a legal (for now) ponzi scheme. As long as new blood enters, they will grow.

    At the same time, digital currencies are in fact the wave of the future as governments move to kill FIAT paper. Do remember why a government wants to do that. Governments wish to control the threat to their well being. That threat is the people. The banking system is set up to facilitate that.
    Anything that threatens that banking system will face severe consequences. Try printing or stamping your own FRN or coins as currency and you'll discover what those consequences are.

    If a cryptocurrency is used to facilitate trade and .gov can track and tax, it's highly unlikely to be a problem. If it cannot track and tax, eventually .gov will come after it just as its done to other attempts to circumvent FIAT currency of the land.

    In the fullness of time, governments will recognize some cryptocurrencies as legitimate. They want to go all digital and by allowing the market place to develop the technology, they save the expense and risk of doing so.

    As such, I pay attention to the technologies that have backing from international corporations and banks. Effectively if you're holding it when they adopt it, it will very likely be grandfathered in.
    Then and only then will the direct ponzi scheme aspects be removed from it.

    Your only other real alternative is to be prepared to hoist the black flag and fly your middle finger at .gov. That tends to be an unhealthy state of existence.

    Given the high levels of uncertainty involved, I would suggest this approach. Trade off some of your profits from cryptocurrencies into tangible assets such as gold. Should the music stop, you're are not left with nothing. There are people out there who will argue that can't happen. I can think of a few dozen reasons why it most assuredly can.

    Always remember the inherent volitility. People just knew the .coms were safe investments and we all know how that ended.

    Remember the elusive 'experts' may know a thing or two, but the number of variables are simply too high for anyone to be an 'expert'. Don't let anyone make the decision for you or take anyone's opinion as gospel, they can be wrong. It's incumbent upon you to do your own homework. If you're not doing so you're setting yourself up for failure.

    Your trying to better your lot in life financially, and for every one of you doing so, there are hundreds out there trying to figure out how they can get what you have.
    Facts?? We don't need no stinkin facts...

  35. #35
    Join Date
    Oct 2014
    Posts
    10,043
    I was checking into XRP yesterday, and seemed like every exchange that was selling it wanted personal information just short of blood samples. Photo ID, SSN / TIN, the works. That scares me green, and I have no credit rating to wreck.

  36. #36
    Join Date
    Jul 2005
    Location
    Happy on the mountain
    Posts
    53,696
    Excellent summary at #34. I believe the tech is the key and will win out in the long run - knowing which "brand name" utilizing the tech will be the big winnah is a roll of the dice in the early days.
    The wonder of our time isnít how angry we are at politics and politicians; itís how little weíve done about it. - Fran Porretto
    -http://bastionofliberty.blogspot.com/2016/10/a-wholly-rational-hatred.html

  37. #37
    Join Date
    Oct 2014
    Posts
    10,043
    Some businesses are starting to pay employees in bitcoin.

    Fair use cited, so on and so forth.

    https://bitcoinmagazine.com/articles...rkers-bitcoin/


    Japan's GMO Internet Group Will Pay Thousands of Workers in Bitcoin

    Blockchain development companies and the cryptocurrency press have been paying their workers in cryptocurrencies for years, but one realizes that the times are truly changing when mainstream companies start paying their workers in bitcoin.

    GMO Internet Group, a Japanese provider of a full spectrum of internet services for both the consumer and enterprise markets, is introducing a system for employees to receive part of their salary in bitcoin.

    Headquartered in Tokyo, GMO Internet Group comprises more than 60 companies in 10 countries. In view of the group’s size and financial muscle, this initiative is likely to boost the mainstream adoption of the practice of paying salaries in cryptocurrencies.

    The move is partly motivated by the desire to promote the adoption of Bitcoin, which is a strategic priority for GMO. In fact, the group is vigorously active in bitcoin trading and mining services, as well as mining hardware development. Therefore, anything that is good for Bitcoin is also good for GMO.

    In May 2017, GMO launched a cryptocurrency exchange, initially dubbed Z.com Coin and later rebranded as GMO Coin, which features cryptocurrency FX and trading on both computers and smartphones. The exchange offers two types of services: cryptocurrency FX, which is an over-the-counter (OTC) bitcoin margin trading and cryptocurrency trading, which enables buying and selling of virtual currency in JPY in addition to basic features allowing customers to send and receive bitcoins.

    In September 2017, GMO announced the upcoming launch of a new bitcoin mining business. “We will operate a next-generation mining center utilizing renewable energy and cutting-edge semiconductor chips in Northern Europe,” GMO stated, emphasizing that they will invest in R&D and manufacturing of hardware including the next-generation mining chip.

    “We will use cutting-edge 7 nm process technology for chips to be used in the mining process, and jointly work on its research and development and manufacturing with our alliance partner having semiconductor design technology.” The mining business is scheduled to start in January 2018.

    GMO expressed its belief that cryptocurrencies will develop into “new universal currencies” available to anyone from any country or region who wants to freely exchange value, “creating a new borderless economic zone.”

    The option to receive part of the salary in bitcoin will initially only be available to employees of one GMO company — GMO Internet Co. Ltd. — starting in March 2018, but it will be gradually extended to more than 4,000 employees in other GMO companies based in Japan.

    The minimum bitcoin payment will initially be 10,000 yen (~$88) and the upper limit will be 100,000 yen (~$881). Each salary payment in yen will be reduced by the amount of bitcoin paid, using the exchange rate at the GMO Coin exchange.

    Mainichi Japan notes that Japan's labor code stipulates that businesses must pay employees in a recognized currency such as the yen, but, according to GMO, the move is in accordance with the law because any payments in bitcoin would be consensual, with a chosen amount to be deducted from paychecks and put toward purchasing bitcoin. The cryptocurrency is rising in popularity in Japan with an increasing number of retailers accepting it as a form of payment.

    GMO Internet Group wants to contribute to the development of cryptocurrencies in the world by promoting cryptocurrency-related initiatives throughout the group. In particular, GMO wants to promote ownership of bitcoin among its employees — who can be the best evangelists for the group’s products and services related to the digital currency — to improve the employees’ exposure to and understanding of Bitcoin.

    “Employers can now pay employees a portion of their net earnings in bitcoin by collaborating with niche payroll solution providers such as Bitwage, Wagepoint, or Bitpay, who manage the back-end mechanics, eliminate exposure to price volatility, and reduce compliance and governance risks,” noted Deloitte principal Eric Piscini.

    A recent overview of cryptocurrency payroll processors and early adopting clients notes that offering salaries in bitcoin could make it easier for companies to retain and attract talent. Besides compensating current employees, “[cryptocurrencies] could help businesses more effectively tap into the open talent economy, where individual contributors may be drawn to business partners that offer payout features only cryptocurrency makes possible: fast peer-to-peer payments across country borders with minimal friction (or total freedom) from traditional banking systems,” said Piscini.

  38. #38
    Join Date
    Apr 2002
    Location
    WI
    Posts
    1,842
    Interestingly, I see that Kraken offers MARGIN ACCOUNTS!

    As with all margin accounts, that could end up being a real nightmare if not watched closely.

    Do you know anything of those?

    Margin borrow limits

    The margin borrow limits for each currency varies based on your current verification tier. Note that each limit is independent from the other, so a Tier 3 user could, assuming there are funds available to lend, borrow up to 25,000 EUR and 25,000 USD at the same time. Please refer to the following table:


    Tier 1 Tier 2 Tier 3 Tier 4
    EUR 3000 10000 25000 100000
    USD 3000 10000 25000 100000
    XBT 3 10 50 250
    ETH 25 125 250 1500
    https://support.kraken.com/hc/en-us/...-borrow-limits
    Sub-Zero

  39. #39
    Join Date
    Dec 2017
    Location
    Swimming in sea quarks
    Posts
    857
    Quote Originally Posted by Sub-Zero View Post
    Interestingly, I see that Kraken offers MARGIN ACCOUNTS!

    As with all margin accounts, that could end up being a real nightmare if not watched closely.

    Do you know anything of those?



    https://support.kraken.com/hc/en-us/...-borrow-limits
    I stay clear of that so no specific knowledge other than knowing it exist.
    Facts?? We don't need no stinkin facts...

  40. #40
    Join Date
    Apr 2002
    Location
    WI
    Posts
    1,842
    Quote Originally Posted by Blacknarwhal View Post
    I was checking into XRP yesterday, and seemed like every exchange that was selling it wanted personal information just short of blood samples. Photo ID, SSN / TIN, the works. That scares me green, and I have no credit rating to wreck.
    It depends on how much you plan on doing in a day. Here are the requirements and associated trade/purchase/sell/fiat amounts and required information from Kraken:

    Tier 2*
    Deposit (fiat) $2,000.00
    Deposit (crypto) No limit

    Withdraw (fiat) $2,000.00
    Withdraw (crypto) $5,000.00

    Deposit (fiat) $10,000.00
    Deposit (crypto) No limit

    Withdraw (fiat) $10,000.00
    Withdraw (crypto) $50,000.00

    Full name
    Date of birth
    Country of residence
    Phone number
    Address verification
    So, no blood samples or SSN unless you plan on sinking a ton of money into it.

    If you go to the link, it displays more coherently.
    Sub-Zero

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