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ECON What is Bitcoin? A POSITIVE Thread For Learning About Crypto Currencies
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  1. #161
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    Peter Thiel’s Founders Fund Makes Monster Bet on Bitcoin
    Few mainstream investors have bought large sums of bitcoin, scared off by concerns about cybersecurity and liquidity

    Jan. 2, 2018 4:12 p.m. ET
    77 COMMENTS

    One of the biggest names in Silicon Valley is placing a moonshot bet on bitcoin.

    Founders Fund, the venture-capital firm co-founded by Peter Thiel, has amassed hundreds of millions of dollars of the volatile cryptocurrency, people familiar with the matter said. The bet has been spread across several of the firm’s most recent funds, the people said, including one that began investing in mid-2017 and made bitcoin one of its first investments.

    Founders and Mr. Thiel are well-known for early investments in companies like Facebook Inc. that sometimes take years to come to fruition. The bitcoin bet is quickly showing promise. Founders bought around $15 million to $20 million in bitcoin, and it has told investors the firm’s haul is now worth hundreds of millions of dollars after the digital currency’s ripping rise in the past year.

    It isn’t clear if Founders has sold any of its holdings yet. The bet hasn’t been previously reported.

    Bitcoin vaulted last year from a fringe area of Wall Street interest to the most talked-about asset in the financial world. The digital currency started 2017 trading around $1,000, then shot to near $20,000 as individual and institutional investors alike ramped up speculating on its rise. From its all-time high reached in November, the price chopped almost in half over the next month. The cryptocurrency traded at $14,292 on Friday, according to CoinDesk, up 1,375% on the year.

    Relatively few mainstream investors have bought large sums of bitcoin, scared off by concerns about cybersecurity and liquidity, as well as more mundane fears of investment losses. Even some of those who do own it are cautious about speaking too publicly, lest they draw the attention of hackers.

    The recent price plunge has also spooked some. On Dec. 22, the prominent investor Michael Novogratz said he was delaying launching a crypto-focused hedge fund for outside investors, stating “we didn’t like market conditions for new investors.” South Korea announced last week it would crack down on cryptocurrency trading, an ominous sign given that the country at one point accounted for as much as one-fourth of global bitcoin trading activity.

    Founders began buying in for its investors before the recent volatility, the people familiar with the matter said.

    The billionaire Mr. Thiel is an outspoken libertarian who co-founded digital payments service PayPal Holdings Inc. and made headlines as a prominent booster of President Donald Trump. He previously ran a multibillion-dollar hedge fund focused on global macroeconomic trends, and had some success navigating the financial crisis before racking up investment losses by investing in safe havens and missing out on the subsequent rebound.

    As a venture capitalist, Mr. Thiel and Founders fund are among the most successful in Silicon Valley. Founders has more than $3 billion under management and has taken stakes in more-than 100 companies, including Facebook, Airbnb Inc., SpaceX and Lyft. More recent investments include the crypto-focused hedge funds Metastable Capital and Polychain Capital, which puts money into blockchain companies.

    Mr. Thiel made the decision to buy up bitcoin together with Founders’ other investment partners, a person familiar with the matter said.

    By buying bitcoin outright, as opposed to backing other companies doing business in the space, Founders would seem to be breaking with its investing tradition, an investor said. But in communications with investors, Founders representatives have sought to cast the investment as a high-risk, high-reward wager similar to its other venture bets, the people familiar with the matter said.

    The representatives have told firm backers that a cascade of cash into technology companies has stretched their valuations to historic highs, making stakes in startups as dangerous a risk as ever. Bitcoin, on the other hand, could multiply several times over in the coming years.

    Thanks to its rise, the bitcoin investment is already estimated as the most valuable in the Founders’ most recent, $1.3 billion venture fund. People close to the firm said that the fund hasn’t made many investments yet.

    Founders has also warned investors that bitcoin does share one potentially perilous similarity with more traditional venture capital investments: The digital currency could be worth nothing, or close to it, in the end.

    https://www.wsj.com/articles/peter-t...oin-1514917433

  2. #162
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    Hi;

    Well, I'm a noob myself but from what I've read Cardano is another pretty decent coin. It's currently #5 in market cap so is well traded and has benefited like the other altcoins since Bitcoin has taken some dumps. From what I've read before it's an offshoot of one of the other coins and has a good reputation. I've researched Ripple so I know what it's going to be used for and where it's going but I haven't with Cardano. Just in general investors/speculators coming in are probably quite a bit like us....they want some good bang for the buck and something cheap enough to acquire and hang on to. A lot of people coming in are going to be looking for something inexpensive with a good possibility of price appreciation and if you can find a coin like that in the top #20 of market cap and it's pretty cheap your probably going to see some returns with minimal risk. I just think people going to be more willing to take some $ from the real expensive ones and looking to catch the next rocket ride going up.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  3. #163
    Quote Originally Posted by Hfcomms View Post
    Hi;

    Well, I'm a noob myself but from what I've read Cardano is another pretty decent coin. It's currently #5 in market cap so is well traded and has benefited like the other altcoins since Bitcoin has taken some dumps. From what I've read before it's an offshoot of one of the other coins and has a good reputation. I've researched Ripple so I know what it's going to be used for and where it's going but I haven't with Cardano. Just in general investors/speculators coming in are probably quite a bit like us....they want some good bang for the buck and something cheap enough to acquire and hang on to. A lot of people coming in are going to be looking for something inexpensive with a good possibility of price appreciation and if you can find a coin like that in the top #20 of market cap and it's pretty cheap your probably going to see some returns with minimal risk. I just think people going to be more willing to take some $ from the real expensive ones and looking to catch the next rocket ride going up.
    Thanks for the reply, and I'm going to look into XRP myself. good luck with your coins!

  4. #164
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    Uh oh....CNBC is showing people how to buy Ripple now. Gonna go up a lot. Go to the link for all the graphics. Too many to post here.



    How to buy ripple, one of the hottest bitcoin competitors

    • Ripple is one of the hottest new cryptocurrencies and it only costs a bit over $2 per coin. It's a bit harder to buy than bitcoin, however, since it's not available in popular apps such as Coinbase. We'll walk you through how to buy some, by first buying ethereum and then using that to buy ripple on an exchange called Bitsane.



    If you thought bitcoin was hot, maybe you should learn about ripple. It's another crytocurrency that's been rocketing in popularity lately.

    While it was trading at around $0.20 a few months ago, it's now worth more than $2.25 per coin. Ripple is a little different than many other popular cryptocurrencies because it was created by a private, for-profit company that is still the biggest individual owner of the currency.

    But ripple isn't as easy to buy as bitcoin or other popular cryptocurrencies, since it isn't available in popular apps such as Coinbase.

    That means you need to jump through a few hoops to buy it. I tried several methods and think I've come up with the easiest:

    If you thought bitcoin was hot, maybe you should learn about ripple. It's another crytocurrency that's been rocketing in popularity lately.

    While it was trading at around $0.20 a few months ago, it's now worth more than $2.25 per coin. Ripple is a little different than many other popular cryptocurrencies because it was created by a private, for-profit company that is still the biggest individual owner of the currency.

    But ripple isn't as easy to buy as bitcoin or other popular cryptocurrencies, since it isn't available in popular apps such as Coinbase.

    That means you need to jump through a few hoops to buy it. I tried several methods and think I've come up with the easiest:

    Create an account with a Ripple exchange

    Only some of ripple's recommended exchanges include support for buying Ripple with the U.S. dollar, which would be the easiest way. Unfortunately, after trying several and running into technical issues or login problems, I settled on an exchange called Bitsane.

    Setting up an account is easy, and the main page has all sorts of information on current exchange prices for trading between various cryptocurrencies. It also lets you send and receive currency from other apps, such as Coinbase, which we'll get to in a moment.

    Now you'll need to buy another cryptocurrency: either bitcoin or ether (the cryptocurrency associated with the Ethereum blockchain).

    It's annoying that you need to do this extra step, but unfortunately it's the easiest way to move forward.

    I used Coinbase to buy ether and bitcoin. It's easy to use and you can buy it using the U.S. dollar, either through a linked bank account or debit card. Follow our guide on how to buy bitcoin and ethereum for this step.

    In this case, I'm buying $200 worth of ether.



    Next, you're going to move the ether you own in Coinbase over to the Bitsane platform so you can use it to buy ripple. I know it sounds complicated, but it isn't.

    Do this:

    Click "Balances" on the top of the Bitsane page.
    On the "Ethereum" line, select "Deposit."
    The page will generate a special address. Copy it.
    Open Coinbase on your phone or computer.
    Tap Accounts
    Tap "ETH wallet"
    Tap the "Send" icon on the top right. It looks like a paper airplane.
    Choose how much you want to send. We'll do $100 worth of ether.
    Enter the address you copied from Bitsane.
    Click Send.
    You'll pay a small fee -- I paid $0.36 -- and it should arrive in your Bitsane account within 30 minutes.



    Now that your ether is in your Bitsane account, you can use it to buy ripple.

    On the top of the page, select the XRP/ETH exchange. This allows you to buy ripple using ether, and shows you the buy orders (bids), sell orders (asks), and current trades.

    Choose how much you want to buy. Under order type, select "market" and then choose your order size (how many ripple coins you want to buy.)

    Since I have 0.11712345 ether, I can buy 46 Ripple coins, which is about $2.20 a pop give or take a few cents.

    You can see how much ripple you now own under balances. Here we can see I ended up with about 45.88 full ripple coins.

    Now, since I can't really spend ripple anywhere, I can just sit on it and see what happens. As with most cryptocurrencies, you're taking a bet here on whether the value is going to increase or decrease. But unlike bitcoin, you can actually buy several of these at once without spending too much money.

    https://www.cnbc.com/2018/01/02/how-...r&par=sharebar
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  5. #165
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    10 Look Out Ripple.... Here Comes Stellar/ Lumens (XLM)

    A direct competitor for upgrading the financial system, Lumens aka Stellar has come roaring out of obscurity to chase its main competitor, Ripple XRP.

    I Just bought a couple Lumen to get in this race and have some fun.

    XLM is available on Poloniex as well as other exchanges. Currently at $0.61......... 1-2-18 at 845pm Cst.
    Lumens is up 25% for the day.

    YMMV, dont sell the barn
    et conciderunt ligna, ergo sum

  6. #166
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    Pretty unreal. XRP [ripple surpasses $3 on coinmarketcap right now]

    This will be a big boost. Bitoasis is one of the largest crypto exchanges for the A-rab nations. Soon they will start pouring their money into XRP as well.




    BitOasis Confirms XRP Integration

    Cryptocurrency adoption is slowly growing all over the world. More specifically, various countries are regulating Bitcoin or preparing to do so. In the UAE region, it seems there is a genuine interest in various cryptocurrencies as well. BitOasis, one of the biggest local exchanges, has announced they will integrate XRP soon. Although no further details were announced, this is a pretty big development. After all, Ripple’s asset is now the world’s second-largest currency by market cap.

    It is always interesting to see how cryptocurrency thrives in the UAE region. Although we hardly hear anything from this region, things are progressing nicely. In fact, one of the region’s biggest exchanges will improve its position on the market moving forward. Adding new currencies is always a big step for any exchange all over the world. Surprisingly, this process happens less often than one would assume at this point in time.

    In the case of BitOasis, an interesting addition will occur very soon. More specifically, the company announced they will enable XRP support very soon. Ripple’s native asset has been of great interest to investors and speculators alike. Especially now that the asset reaches new all-time highs, things will get very interesting. It is unclear how much demand for XRP there is in the UAE, though. If BitOasis plans to add it, there must be sufficient demand to make it happen.

    we are rolling XRP soon! Stay tuned ��

    — BitOasis (@bitoasis) December 28, 20
    17

    One big unknown is when Ripple’s asset will go live on BitOasis. All we know is the information from the above tweet. There is no official timeline for this integration whatsoever. As most cryptocurrency users will know, “soon” has many different meanings in this industry. It may happen next week, or next month, or by Christmas 2018. Either way, it is good to see BitOasis take such an important step forward. Providing more XRP liquidity can only be considered to be a good thing for Ripple’s native asset.

    This news comes at an interesting time for the exchange. More specifically, BitOasis disabled deposits and withdrawals for some customers a week ago. This affects users with an EmiratesNBD account. The reason for this drastic step is due to the bank blocking customer transfers and withdrawals. It is not the first time a financial institution takes such a step without any specific reason. Unfortunately, it is one of the issues cryptocurrency enthusiasts have to deal with, for now. It will be interesting to see how the addition of XRP affects this exchange moving forward.

    http://www.newsbtc.com/bitoasis-will...p-near-future/
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  7. #167
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    I love this thread! I learn something new, everyday!

  8. FYI, Ethereum is on a huge spike today, and rumors on the net say that Amazon will soon be accepting Litecoin as payment. Things are getting interesting in the crypto world!!

  9. #169
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    Having Amazon, Ebay and/or Paypal adopting crypto currencies as either a funding or payment option would explode the crypto's higher as well as be a heck of a boost to those retailers. Also some hints that XRP especially is wooing MC or Visa for integration. For those that have crypto's and want to use them it's a pain as you have to cash them out to your local currency no matter where you live in the world. To have Payment options involving the currencies without having to directly convert in dollars, or anything else would be a heck of a coup and give them more legitimacy with average people and businesses.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  10. #170
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    10

    Looks like TRON is kicking Po.et's buttt......143% vs 60% gains.
    Just saying.

    YMMV, Dont mortgage the farm.
    et conciderunt ligna, ergo sum

  11. #171
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    9 Coinbase/ GDAX Announce they Will Not be adding more coins......Sorry XRP




    No New Crypto: Coinbase Squashes Exchange Listing Rumors


    https://www.coindesk.com/no-new-cryp...isting-rumors/

    Nikhilesh De
    Jan 4, 2018 at 22:30 UTC
    NEWS

    Coinbase announced Thursday afternoon that it would not be adding any new cryptocurrencies to either its flagship platform or its other digital asset exchange, GDAX.


    In a blog post, the company, which currently allows customers to buy, sell, deposit or withdraw bitcoin, litecoin, ethereum, and most recently, bitcoin cash, said it wanted to explain its process for adding new assets.

    The post cited last year’s Digital Asset Framework announcement, where GDAX outlined the criteria it would follow when considering whether to add a new token or coin to its exchange. The company then stated:

    “As of the date of this statement, we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company.”

    The update follows rumors that the exchange would add Ripple’s XRP token, and marks the first statement Coinbase made on the matter.

    Over the last few weeks, XRP has been on a run, hitting an all-time high of $3.84 on Thursday, according to data site CoinMarketCap. Just three weeks ago the token was trading for less than a dollar.

    XRP fell on Thursday to $3.52 at press time, but maintains its position as the world’s second-largest cryptocurrency by market cap.
    __________________________________________________ _______

    Might be time to take some profits off the table.

    YMMV, Do Not Drink and Trade, Do not mortgage the Trailer.
    et conciderunt ligna, ergo sum

  12. #172
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    They didn't say they will NOT be adding any more coins. Look at what they said.

    “As of the date of this statement, we have made no decision to add additional assets to either GDAX or Coinbase.


    There is a little difference between what you said and what they said isn't there? They didn't say they won't be adding more coins but said that as of yesterday they haven't made a decision to add more coins. Next week they could decided to add more coins. Remember a few weeks ago some of the Coinbase people got in trouble for insider trading so they are going to be very careful on announcements and how they add additional assets in the future. Since Coinbase is the most popular US exchange and the interest in Crypto currencies is exploding in the US it would make no business sense for them to miss out on it.
    What is the lake of fire? What is it's purpose? Is the lake of fire eternal hell? Is there any hope of escape for those cast into this lake?
    http://bible-truths.com/lake1.html

  13. #173
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    It does not matter what I said. Artistic license and all.
    What matters is how the herd reacts to the scary thing they are approaching. They have turned.
    Why do you care what I say.
    I am just a dumb retired lumberjack sitting in my ice house on Mille Lac Lake?
    I tried to kill this thread, let it die in obscurity. Now it has been resurrected.
    Sigh.
    et conciderunt ligna, ergo sum

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