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ECON What is Bitcoin? A POSITIVE Thread For Learning About Crypto Currencies
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  1. #41
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    CONGRATS Hfcomms!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

  2. #42
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    CONGRATS Hfcomms!!!!!!!!!!!!!

  3. #43
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    [QUOTE=Hfcomms;6706610]Just for giggles I dipped my toe into the pool today. Tried to sign up with Bitstamp but failed verification because of my P.O. box as an address which doesn't match the street address on the drivers license. There is a support ticket open but decided upon another route. I used https://changelly.com to make the initial purchase. I was interested in XRP which is Ripple but not every exchange can handle Ripple. Changelly 'changes' one crypto currency for another and just charges about .5% depending on the transaction. What they do is to query all the exchanges in order to find the best rate/price for buying and selling and they act as an intermediary.

    You can't buy XRP directly with them for US dollars but you can buy Bitcoin or fractions thereof for dollars. So what I did was to purchase an initial position using a credit card. Your card has to have 3D capability which most of them do and I had to verify thru email as well as a code sent to my cell phone that the transaction was authorized. Once that was completed the transaction was put into the chain. It took about 45 minutes to 'own' the Bitcoin. I needed a Bitcoin wallet as well as a XRP Ripple wallet to exchanged from one to the other. It wasn't too difficult to do once they are set up and their are guides on the internet on how to set them up and how to secure your keys, ect.
    ************************************************** ************************************************** *******

    Very nice write up HF. Thank you for sharing and good luck with the Ripple (still reminds me of the drink).
    Paul
    et conciderunt ligna, ergo sum

  4. #44
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    14 New Crypto Analysis received and Shout out.

    Big thanks to HF and Mr Narwhal for share lots of useful, actionable information.

    More news in from Trader Jay and Joe at jsnip4 youtube channel.

    You will need to go to the youtube. This data is fresh this am Tues 12 19 2017 and provide the latest chart prognostications.....I will not cross post, but I can give you some hints:

    Joe at jsnip4 sending flash traffic ( 9+ minutes) from his car: https://youtu.be/xlxlZxOaz5M

    Here are 3 coins/ tokens, getting ready to start going up and should be watched closely.:

    S*
    L**
    D**

    Good luck and trade safely.
    Paul

    PS: My Crypto Portfolio, based on recommendations from the above Trader, is up 20+ % over the last 24 hrs !!!
    Last edited by paul bunyan; 12-19-2017 at 02:06 PM. Reason: add market increase % over night
    et conciderunt ligna, ergo sum

  5. #45
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    Here is why I like XRP - HF


    WAVY TRANSACTIONS Ripple price and how to buy – why has XRP spiked and how does the cryptocurrency work?

    The cryptocurrency, which launched in 2012, recently enjoyed a 4300 per cent surge in value

    RIPPLE is the fourth largest cryptocurrency in the world but despite its recent growth, it still remains an unfamiliar name to most.

    XRP, Ripple's native currency, has taken the banking world by storm, soaring from under $0.01 to $0.79 a coin in under a year, with it currently worth around £0.62 ($0.83). But why did its value suddenly increase by 4,300 per cent?

    How does Ripple work and are there any risks?

    Ripple acts as a payment network, RippleNet, and a cryptocurrency, Ripple XRP.

    The platform makes it easy to transfer almost any currency to almost any other currency in the world in no longer than four seconds.

    Currently, Ripple is focused on working with banks and other institutions in a bid to offer an efficient and cost-effective way of sending real-time payments around the world.

    Using Ripple, if one wanted to transfer currency directly from China to the USA, they can trade CNY to XRP, (Ripples currency), and then send XRP to the recipient who will have an online Ripple wallet or a bank in the USA. From there, they can trade the XRP back into USD.



    In comparison, transactions on Ethereum can take more than two minutes, and on Bitcoin payments can take more than an hour to be processed.

    Ripple claims banks can save an average of $3.76 per payment using their network.

    Since XRP only works directly with banks, the budding cryptocurrency is set to focus on developing networks to benefit finance corporations.

    Although critics have questioned why the platform now focuses exclusively on banks, because it was launched to help everyday people make global transactions much easier.

    But Ripple can appear risky. It's open nature means nodes are vulnerable to attack, which could leave users unable to access their accounts.

    Its technology is still in its infancy, so this means Ripple is subject to competition, and innovation.
    Why has the cryptocurrency XRP spiked?

    Ripple soared by 46 per cent on December 15, reaching a new record high of 0.8051, CoinGecko reported.

    XRP reputedly gained such a boost in its value because Bitcoin's continued growth has benefited the entire cryptocurrency market.

    The global market is currently valued at around $488billion, Bitcoin accounts for less than 40 per cent of the daily turnover and Ripple accounts for a minor 4 per cent.

    But experts believe it will enjoy a larger boost in value in 2018.

    XRP also enjoyed a surge because of its new partnership with credit card company American Express, who are looking to offer instant block-chain based payments.

    Celebrating the AMEX-Ripple partnership, the company's chief information officer, Marc Gordon said: "American Express has a long history of integrating new technologies.

    "This collaboration with Ripple and Santander represents the next step forward on our blockchain journey, evolving the way we move money around the world."
    How to buy XRP

    Ripple can be easily purchased using other cryptocurriencies like Bitcoin.

    It is available on Bitstamp, where users can purchase them with their local currency.

    Using an online wallet like GateHub, XRP can be stored in an online wallet. This will allow them to make purchases and even send XRP to other Ripple users.

    https://www.thesun.co.uk/money/51278...ncy-spike-buy/
    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

  6. Awesome stuff here! Thanks, friends.

  7. #47
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    I have a very elementary question (or, two) . . .

    First: What is the end-game here? For individuals who know nothing about bitcoin - what is the 'pay off'?

    For example:
    * I work --> Employer gives me money --> I buy food --> I'm happy

    What's the progression of bitcoin? I ask, because in the videos I watch, and discussions here, it seems (and I, of course could be wrong and am probably missing some important point) as though the concept is generating wealth - referenced in dollars. Get into bitcoin, it's currently worth $xx but could become worth $xxx. So then, you have $xxx . . . therefore:
    * I have $xxx --> I buy food --> I'm happy

    Am I understanding this correctly? It's simply another means to an end?

    Second: What is the improvement? Currently, it still seems like just regular ol' money.
    Currently:
    * I have $2 --> you have a whistle I want --> we agree that if I give you my $2, you'll give me the whistle
    With bitcoin:
    * I have .02 bitcoin --> you have a whistle I want --> we agree that if I give you my .02 bitcoin, you'll give me the whistle HOWEVER, there now appears to be some fee included for the transaction

    Third: Why should anyone want the make this change? I'm thinking that it's removing the 'power' of money from the large bankers - is that the case? If so, I'm good with that.

    Fourth: (sorry, I keep coming up with questions - LOL) What's the exchange rate? Current monetary users need some form of reference.
    Currently:
    * 1 Euro = 1.18 US dollar
    With bitcoin:
    * ?? bitcoin = ?? US dollar



    HB
    Last edited by Haybails; 12-19-2017 at 04:11 PM. Reason: Sorry, added another question.
    "The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced, if the nation doesn't want to go bankrupt. People must again learn to work, instead of living on public assistance."
    Cicero, 55 BC
    Roman author, orator, & politician (106 BC - 43 BC)
    "The more things change, the more they stay the same." -- popular cliché

  8. #48
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    It has to be one of those...................

    "if it's too good to be true - it probably is"

    No thanks.

  9. #49
    Should of, could of, would of.....stacked silly bit coins way back when....

    But instead I'll stick too my 8 bit coins and 4 bits and so on...

    http://www.coinlink.com/News/world-c...ix-bits-eight/

    Quote,

    BREAKING NEWS:....... Vist Our NEW Site at CoinWeek.com
    History of Coins: TWO-BITS, FOUR-BITS, SIX-BITS, EIGHT…
    Comment On This Article
    By CoinLink on Thursday, July 8, 2010
    Filed Under: General Collecting, History and Numismatics, Items of Interest, World Coins
    by Leon F McClellan.


    Two-bits, four-bits, six-bits and eight-bits make reference to the eight-reales silver coin of New Spain and Mexico. It is also called piece of eight and circulated in the English Colonies and freely in the USA following the Revolutionary War. As a matter of fact, the eight-reales coin was legal tender in the United States until 1857 and was the world’s most used coin at one time. It is the renowned piece of eight that became part of the Spanish Main pirate lore.

  10. #50
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    The Swedish co-founder of Bitcoin.com has sold all his bitcoins

    I think you need to read this.

    https://nordic.businessinsider.com/t...-as-useless--/

    Bitcoin is “as good as useless” and has no future as a tradeable currency says Emil Oldenburg, the co-founder and CTO of bitcoin.com, one of the world’s largest bitcoin websites.


    Oldenburg has sold his bitcoins and believes others will do the same when they realize how illiquid the market is.


    He says bitcoin's drawbacks are high fees and transaction lead times - a heated topic of discussion in the community today - and resistance to change from people running the old bitcoin network.


    Oldenburg believes there's a brighter future for Bitcoin Cash, a spinoff currency of bitcoin that is now being actively promoted by bitcoin.com.

    Bitcoin.com is one of the world’s largest bitcoin sites, having grown its profile this year thanks to the remarkable price surge of the cryptocurrency. But its cofounder and CTO, Emil Oldenburg, a Swedish native, is extremely skeptical when it comes to bitcoin's future.

    ”I would say an investment in bitcoin is right now the riskiest investment you can make. There’s an extremely high risk,” he says in an interview with Swedish tech site Breakit.

    Although Oldenburg is far from the first to criticize the cryptocurrency's viability as an investment asset, his position as an industry insider does stand out – even as he migrates to its spinoff, bitcoin cash (BCH).

    “I have in fact sold all my bitcoins recently and switched to bitcoin cash,” he says, referring to the currency that split from bitcoin in August and recently overtook Ethereum as the world's second-largest cryptocurrency. Bitcoin Cash has also gained the strong support of Oldenburg's co-founder, Roger Ver.

    Oldenburg's big problem with bitcoin is high transaction costs and lead times. Indeed, by some counts, bitcoin transaction fees are doubling every three months, and it now takes on average 4,5 hours to confirm a bitcoin transaction. Ars Technica reported that fees reached $26 per trade recently.

    "When people realize how bitcoin works, they will start to sell”
    While buying, selling or trading bitcoin is not an issue today, Oldenburg says, problems surface when bitcoin transactions are recorded on the blockchain, the digital ledger that records each transaction.

    More at the link.
    Last edited by Sleeping Cobra; 12-19-2017 at 06:33 PM.

  11. #51
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    Another submission for the "Bitcoin Obit" link! lol

  12. #52
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    Not what I wanted to hear but agree. The transaction rate is too slow to make it viable. Ethereum is faster and some others faster than that. Other opinions?
    I'd rather be paranoid, prepped and wrong than be irrationally happy, frivolous and screwed.

  13. #53
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    Quote Originally Posted by Sleeping Cobra View Post
    I think you need to read this.

    https://nordic.businessinsider.com/t...-as-useless--/

    Bitcoin is “as good as useless” and has no future as a tradeable currency says Emil Oldenburg, the co-founder and CTO of bitcoin.com, one of the world’s largest bitcoin websites.


    Oldenburg has sold his bitcoins and believes others will do the same when they realize how illiquid the market is.


    He says bitcoin's drawbacks are high fees and transaction lead times - a heated topic of discussion in the community today - and resistance to change from people running the old bitcoin network.


    Oldenburg believes there's a brighter future for Bitcoin Cash, a spinoff currency of bitcoin that is now being actively promoted by bitcoin.com.

    Bitcoin.com is one of the world’s largest bitcoin sites, having grown its profile this year thanks to the remarkable price surge of the cryptocurrency. But its cofounder and CTO, Emil Oldenburg, a Swedish native, is extremely skeptical when it comes to bitcoin's future.

    ”I would say an investment in bitcoin is right now the riskiest investment you can make. There’s an extremely high risk,” he says in an interview with Swedish tech site Breakit.

    Although Oldenburg is far from the first to criticize the cryptocurrency's viability as an investment asset, his position as an industry insider does stand out – even as he migrates to its spinoff, bitcoin cash (BCH).

    “I have in fact sold all my bitcoins recently and switched to bitcoin cash,” he says, referring to the currency that split from bitcoin in August and recently overtook Ethereum as the world's second-largest cryptocurrency. Bitcoin Cash has also gained the strong support of Oldenburg's co-founder, Roger Ver.

    Oldenburg's big problem with bitcoin is high transaction costs and lead times. Indeed, by some counts, bitcoin transaction fees are doubling every three months, and it now takes on average 4,5 hours to confirm a bitcoin transaction. Ars Technica reported that fees reached $26 per trade recently.

    "When people realize how bitcoin works, they will start to sell”
    While buying, selling or trading bitcoin is not an issue today, Oldenburg says, problems surface when bitcoin transactions are recorded on the blockchain, the digital ledger that records each transaction.

    More at the link.
    The owners of the address "Bitcoin.com" are actually major supports of a break away "fork" of Bitcoin. Their forked up coin is called Bitcoin Cash and they are very sneaky in how they beat up Bitcoin (core) to try and drive traffic to their alt coin.

    Ymmv,
    Paul
    et conciderunt ligna, ergo sum

  14. #54
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    Quote Originally Posted by Haybails View Post
    I have a very elementary question (or, two) . . .

    First: What is the end-game here? For individuals who know nothing about bitcoin - what is the 'pay off'?

    For example:
    * I work --> Employer gives me money --> I buy food --> I'm happy

    What's the progression of bitcoin? I ask, because in the videos I watch, and discussions here, it seems (and I, of course could be wrong and am probably missing some important point) as though the concept is generating wealth - referenced in dollars. Get into bitcoin, it's currently worth $xx but could become worth $xxx. So then, you have $xxx . . . therefore:
    * I have $xxx --> I buy food --> I'm happy

    Am I understanding this correctly? It's simply another means to an end?

    Second: What is the improvement? Currently, it still seems like just regular ol' money.
    Currently:
    * I have $2 --> you have a whistle I want --> we agree that if I give you my $2, you'll give me the whistle
    With bitcoin:
    * I have .02 bitcoin --> you have a whistle I want --> we agree that if I give you my .02 bitcoin, you'll give me the whistle HOWEVER, there now appears to be some fee included for the transaction

    Third: Why should anyone want the make this change? I'm thinking that it's removing the 'power' of money from the large bankers - is that the case? If so, I'm good with that.

    Fourth: (sorry, I keep coming up with questions - LOL) What's the exchange rate? Current monetary users need some form of reference.
    Currently:
    * 1 Euro = 1.18 US dollar
    With bitcoin:
    * ?? bitcoin = ?? US dollar



    HB
    Let me know when have watched the Youtube video, by Andreas Antanopolos, at the beginning of this thread. It may answer some of your questions.
    Then we can move forward from there.

    PS: 1 Bitcoin can be traded for $16,280 USD at 7:34pm CST on 12 19 17
    Last edited by paul bunyan; 12-19-2017 at 07:35 PM. Reason: spell
    et conciderunt ligna, ergo sum

  15. #55
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    Hmm; I'm going to sell off and wait I don't like the momentum. Something is wrong here.
    I'd rather be paranoid, prepped and wrong than be irrationally happy, frivolous and screwed.

  16. #56
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    Quote Originally Posted by Great Northwet View Post
    Not what I wanted to hear but agree. The transaction rate is too slow to make it viable. Ethereum is faster and some others faster than that. Other opinions?
    Bitcoin is slow, like hours to complete a transaction with adequate numbers like 6 confirmations on the blockchain
    So, Bitcoin is considered more of a store of wealth rather than for buying your coffee
    Etherium is a special coin with all kinds of Applications that are overlayed on its block chain.
    Litecoin was created by Charlie Lee, MIT grad, and it was designed to be faster and cheaper than Bitcoin. Kind of like Silver to Bitcoin Au.
    Litecoin transactions are fast and getting faster since the Father of the coin and the developers who are making improvements are working together.
    The Bitcoin Team is very disfunctional and has no real leader. The BTC miners are always at odds with the developers.
    et conciderunt ligna, ergo sum

  17. #57
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    Quote Originally Posted by Great Northwet View Post
    Hmm; I'm going to sell off and wait I don't like the momentum. Something is wrong here.
    If you sell to USD you may be generating a Taxable event!
    et conciderunt ligna, ergo sum

  18. #58
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    Well shit; I agree with everything you just said. Which do you think is the better move, Litecoin or BCC? Maybe both?
    I'd rather be paranoid, prepped and wrong than be irrationally happy, frivolous and screwed.

  19. #59
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    6 Crypto Coins are run on pure emotion. No Big brother is there to Halt Trading.

    Traders have compared the crypto coin market place as the only financial market that is a true and free market.

    The Central Bankers and Gov's have not been able to choke or throttle it and that is why they hate it. Also, blockchains will, maybe in 10 years, put the banks out of business!!!!!

    That may be why you see real emotions in the run ups and the sell downs. Sell downs can reach 20+ % very easily.

    Yet, these markets still exhibit the normal market cycles, Elliott Waves...etc...

    It is a roller coaster and you better tighten your seat belt cause you are not in Kansas any more.
    et conciderunt ligna, ergo sum

  20. #60
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    Quote Originally Posted by paul bunyan View Post
    If you sell to USD you may be generating a Taxable event!
    Not worried give the taxman his share.
    I'd rather be paranoid, prepped and wrong than be irrationally happy, frivolous and screwed.

  21. #61
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    Quote Originally Posted by Great Northwet View Post
    Well shit; I agree with everything you just said. Which do you think is the better move, Litecoin or BCC? Maybe both?
    I like Litecoin and it is on sale... ltc will be going to over $2000 in 2018. Ethereum is a great choice too. Most fun right now is EOS which you can buy on the Bittrex exchange.

    All the coins will be going up together for the next few years. Do not dump them......... Learn to HODL if you are not a excellent trader.

    YMMV

    And I am not your financial advisor.....capisce?? (capeeesh)
    et conciderunt ligna, ergo sum

  22. #62
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    Quote Originally Posted by paul bunyan View Post
    Traders have compared the crypto coin market place as the only financial market that is a true and free market.

    The Central Bankers and Gov's have not been able to choke or throttle it and that is why they hate it. Also, blockchains will, maybe in 10 years, put the banks out of business!!!!!

    That may be why you see real emotions in the run ups and the sell downs. Sell downs can reach 20+ % very easily.

    Yet, these markets still exhibit the normal market cycles, Elliott Waves...etc...

    It is a roller coaster and you better tighten your seat belt cause you are not in Kansas any more.
    You and I see eye to eye. Glad your on the board!

    Strongly disagree with Elliot wave theory, btw.
    I'd rather be paranoid, prepped and wrong than be irrationally happy, frivolous and screwed.

  23. #63
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    Quote Originally Posted by paul bunyan View Post
    I like Litecoin and it is on sale... ltc will be going to over $2000 in 2018. Ethereum is a great choice too. Most fun right now is EOS which you can buy on the Bittrex exchange.

    All the coins will be going up together for the next few years. Do not dump them......... Learn to HODL if you are not a excellent trader.

    YMMV

    And I am not your financial advisor.....capisce?? (capeeesh)
    After looking up numbers and graphs that is probably the better move. Get out of btc, to ltc, or bcc and just hodl.
    I'd rather be paranoid, prepped and wrong than be irrationally happy, frivolous and screwed.

  24. #64
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    See, THIS is where us regular folks want/need to see change (no pun intended). Another form of currency is fine . . . but, until we can unshackle ourselves from taxes and heavy handed over-lord ruling - it's just another form of cash which will be swept up by 'the leaders'.


    HB

    Quote Originally Posted by paul bunyan View Post
    If you sell to USD you may be generating a Taxable event!
    "The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced, if the nation doesn't want to go bankrupt. People must again learn to work, instead of living on public assistance."
    Cicero, 55 BC
    Roman author, orator, & politician (106 BC - 43 BC)
    "The more things change, the more they stay the same." -- popular cliché

  25. #65
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    What's "hodl"?

    HB

    Quote Originally Posted by Great Northwet View Post
    After looking up numbers and graphs that is probably the better move. Get out of btc, to ltc, or bcc and just hodl.
    "The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced, if the nation doesn't want to go bankrupt. People must again learn to work, instead of living on public assistance."
    Cicero, 55 BC
    Roman author, orator, & politician (106 BC - 43 BC)
    "The more things change, the more they stay the same." -- popular cliché

  26. #66
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    Quote Originally Posted by Haybails View Post
    What's "hodl"?

    HB
    Hang On for Dear Life.

  27. #67
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    Quote Originally Posted by paul bunyan View Post
    The owners of the address "Bitcoin.com" are actually major supports of a break away "fork" of Bitcoin. Their forked up coin is called Bitcoin Cash and they are very sneaky in how they beat up Bitcoin (core) to try and drive traffic to their alt coin.

    Ymmv,
    Paul
    This...

    o)<

    mike
    black is white...

  28. #68
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    The market for Alt coins is in a correction which is normal and healthy.

    Do not panic...this is not wall street..... the price swings are normal and reflect the emotions of the herd.

    Just HODL!!! ( whole new vocabulary to learn... not as hard as Chinese tho )
    et conciderunt ligna, ergo sum

  29. #69
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    The exchanges are running pretty slow...at least Changelly was. Yesterday they had a banner advising delays on the Etherium markets and today also on Bitcoin so there must be a lot of demand. I got my Bitcoin into the wallet quickly but when I exchanged them for XRP even 10 hours later I hadn't received them yet even with over 50 confirmations looking at the hash. When I got up this morning they were in the wallet. And today they've removed XRP as an option and even had removed litecoin earlier. I'm thinking a lot of these exchanges are getting overwhelmed with volume right now.

    I'm tempted to get more but I think I'll hold on a bit for a pullback/consolidation. A lot of momentum traders looking to turn a quick profit but that isn't for me. If I 'invest' in something it has to have value and a reason behind it that I can see. It's expected from several accounts that one of the major U.S. exchanges [coinbase] is going to add Ripple after the first of the year and when that option opens up I believe a lot more people are going to flood into it as it's still pretty cheap compared to many others. It's a lot easier to double your money going from $1 to $2 a coin than it is going from $500 to $1000 but time will tell.
    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

  30. #70
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    Quote Originally Posted by Hfcomms View Post
    The exchanges are running pretty slow...at least Changelly was. Yesterday they had a banner advising delays on the Etherium markets and today also on Bitcoin so there must be a lot of demand. I got my Bitcoin into the wallet quickly but when I exchanged them for XRP even 10 hours later I hadn't received them yet even with over 50 confirmations looking at the hash. When I got up this morning they were in the wallet. And today they've removed XRP as an option and even had removed litecoin earlier. I'm thinking a lot of these exchanges are getting overwhelmed with volume right now.

    I'm tempted to get more but I think I'll hold on a bit for a pullback/consolidation. A lot of momentum traders looking to turn a quick profit but that isn't for me. If I 'invest' in something it has to have value and a reason behind it that I can see. It's expected from several accounts that one of the major U.S. exchanges [coinbase] is going to add Ripple after the first of the year and when that option opens up I believe a lot more people are going to flood into it as it's still pretty cheap compared to many others. It's a lot easier to double your money going from $1 to $2 a coin than it is going from $500 to $1000 but time will tell.
    Yup...extremely busy...
    Coinbase is adding about 100,000 accounts a day...gulp, and expects to add 1,000,000 accounts over Christmas...

    RED ALERT: Calling all TB2K BIG IRON workers for major emergency expansion of the Coinbase Server farm!!!!

    that is all, carry on
    et conciderunt ligna, ergo sum

  31. #71
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    Quote Originally Posted by paul bunyan View Post
    Yup...extremely busy...
    Coinbase is adding about 100,000 accounts a day...gulp, and expects to add 1,000,000 accounts over Christmas...
    Sanctified bovines! Otherwise known as holy cow. I had no idea that many were coming. No wonder they are having trouble. Fear of missing out and a lot of them aren't going to be very wise with it as it's brand new.

    Methinks a lot of people are going to go into debt looking to get rich quick and be taken to the cleaners. Calls for discipline and then taking your profits to get your initial investment out and then your playing with the house's money. Could be some insane valuations after the first of the year.

    Both my nieces got a substantial inheritance during the dot com bubble hoping to get rich and lost most of it. The banksters made out nicely though as they always do.
    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

  32. #72
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    I'll keep waiting until someone explains to me how BitCoin, LiteCoin, LazerCoin, CryptoCoin, NetCoin, CyberCoin, DigiCoin - or any/every variation thereof - somehow breaks this cycle of servitude to 'The Masters'.

    HB

    Quote Originally Posted by Haybails View Post
    See, THIS is where us regular folks want/need to see change (no pun intended). Another form of currency is fine . . . but, until we can unshackle ourselves from taxes and heavy handed over-lord ruling - it's just another form of cash which will be swept up by 'the leaders'.


    HB
    "The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced, if the nation doesn't want to go bankrupt. People must again learn to work, instead of living on public assistance."
    Cicero, 55 BC
    Roman author, orator, & politician (106 BC - 43 BC)
    "The more things change, the more they stay the same." -- popular cliché

  33. #73
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    Quote Originally Posted by Haybails View Post
    I'll keep waiting until someone explains to me how BitCoin, LiteCoin, LazerCoin, CryptoCoin, NetCoin, CyberCoin, DigiCoin - or any/every variation thereof - somehow breaks this cycle of servitude to 'The Masters'.

    HB
    Mr Bails:
    Please stop demanding answers when you will not take the time to view the "introduction to Bitcoin" youtube I provided.

    None of the TB2Ker's that believe in the positive future for crypto currencies are fans of Jaimie Diamond or the Vampire Squid Bankers.

    Your demands are becoming disruptive to the thread. Please stop typing and do some research.

    watch the video or go away.

    Paul
    et conciderunt ligna, ergo sum

  34. #74
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    Mike Maloney [who many of us know about] has an excellent series called Hidden Secrets of Money which I recommend and is a big precious metals cheer leader. He goes into the crypto currencies including his process of discovery. He is overly optimistic in my opinion but this video goes into what crypto is, how it works and what crypto isn't. If anyone seriously wants to know what the 'rah rah' is about it's worth your time.

    runtime 1:14 minutes




    From Bitcoin To Hashgraph: The Crypto Revolution - Hidden Secrets Of Money Ep 8 - Mike Maloney


    https://www.youtube.com/watch?v=SF36...ature=youtu.be

    Bonus Features: http://www.hiddensecretsofmoney.com Today, mankind stands at a crossroads, and the path that humanity chooses may have a greater impact on our freedom and prosperity than any event in history. In 2008 a new technology was introduced that is so important that its destiny, and the destiny of mankind are inextricably linked. It is so powerful that if captured and controlled, it could enslave all of humanity. But if allowed to remain free and flourish - it could foster unimaginable levels of peace and prosperity. It has the power to replace all financial systems globally, to supplant ninety percent of Wall St, and to provide some functions of government. It has no agenda. It's always fair and impartial. It can not be manipulated, subverted, corrupted or cheated. And - it inverts the power structure and places control of one's destiny in the hands of the individual. In the future, when we look back at the 2.6 million-year timeline of human development and the major turning points that led to modern civilization - the creation of farming, the domestication of animals, the invention of the wheel, the harnessing of electricity and the splitting of the atom - the sixty year development of computers, the internet and this new technology will be looked upon as a single event...a turning point that will change the course of human history.

    It's called Full Consensus Distibuted Ledger Technology, and so far its major use has been for cryptocurrencies such as Bitcoin....but its potential goes far, far beyond that. The Crypto Revolution: From Bitcoin to Hashgraph is our latest episode of Hidden Secrets of Money. It’s about the evolution of cryptocurrencies and full consensus distributed ledger technology, and how they will change our world. I believe that this video is by far the easiest way for the average person to gain an understanding of what cryptocurrencies are and how they work, but more importantly, the immense power of full consensus distributed ledger technology and the impact it will have on our daily lives. I have an absolute passion for monetary history and economics, and I love teaching them.

    Cryptocurrencies are our future, and there is no escaping it… this is the way everything will be done from now on. But, we now stand at a crucial turning point in history. Full consensus ledgers such as Blockchain and Hashgraph have the power to enslave us, or free us… it all depends on how we choose to use them. If we choose to support centralized versions issued by governments and the financial sector we will be granting them more control over our daily lives. Politicians and bureaucrats will be able raise taxes instantly, whenever they want, on every dollar you make as you make them, and every dollar you spend as you spend them. If they think the economy needs stimulating they'll be able to enforce huge negative interest rates, effectively punishing you for not spending everything you earn before you earn it.

    They'll be able to decide where you can go and where you can’t, what you can buy and what you can’t, and what you can do and whatever they decide you can’t do… and if they don't like you, they can just disconnect you from the monetary system. So, will the monetary system become fully distributed and help to free mankind, or will it be centralized and enslave us? The choice is in front of us right now, and our decisions will create our future. I believe that this will be a binary outcome, there is no middle ground, it will either be one future or the other. The question is, will it be the future we want? Or the future they want? I’m a precious metals dealer and one thing I’ve learned is that gold, silver, and now free market decentralized cryptocurrencies, represent freedom.

    Because of this knowledge I started investing in crypto currencies long ago and also became one of the first precious metals dealers to accept bitcoin as payment for gold and silver. I would really appreciate it if you could share this video with everyone you know. I think it’s very important that as many people as possible find out about the changes to the global monetary system that are happening right now… nothing will affect us more, and everyone’s future depends 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

  35. #75
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    I did watch the original video . . . and several others offered by 'aantonop'; that's why I have all of these questions. I'm not making demands, I'm trying to learn. I watched several of his youtube videos, went to bitcoin.org and read their FAQs, downloaded the original white paper, and have read the posts on this thread. I thought this thread was about questions.

    I just found this thread Tuesday the 19th (my first post on this thread), I'm hoping you didn't expect me to understand bitcoin in its entirety in less than one day?

    I apologize if my questions came across as demanding and disrupted your thread. I'll take my inquiries elsewhere.



    HB

    Quote Originally Posted by paul bunyan View Post
    Mr Bails:
    Please stop demanding answers when you will not take the time to view the "introduction to Bitcoin" youtube I provided.

    None of the TB2Ker's that believe in the positive future for crypto currencies are fans of Jaimie Diamond or the Vampire Squid Bankers.

    Your demands are becoming disruptive to the thread. Please stop typing and do some research.

    watch the video or go away.

    Paul
    "The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced, if the nation doesn't want to go bankrupt. People must again learn to work, instead of living on public assistance."
    Cicero, 55 BC
    Roman author, orator, & politician (106 BC - 43 BC)
    "The more things change, the more they stay the same." -- popular cliché

  36. #76
    Son was able to get a coinbase account set up last week. He put a little in LTC and I threw in a bit more for him. I keep telling him to chip in a bit more while it's back down near 300. Still trying to open my own account.

    I did make a little extra spending money trading the stock market this morning though

  37. #77
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    Quote Originally Posted by paul bunyan View Post
    Mr Bails:
    Please stop demanding answers when you will not take the time to view the "introduction to Bitcoin" youtube I provided.

    None of the TB2Ker's that believe in the positive future for crypto currencies are fans of Jaimie Diamond or the Vampire Squid Bankers.

    Your demands are becoming disruptive to the thread. Please stop typing and do some research.

    watch the video or go away.

    Paul
    I must have missed it. What specific demands did he make?
    Facts?? We don't need no stinkin facts...

  38. #78
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    Quote Originally Posted by Haybails View Post
    I did watch the original video . . . and several others offered by 'aantonop'; that's why I have all of these questions. I'm not making demands, I'm trying to learn.
    We're learning together. The video that I posted was very helpful to me as Mike covers a lot of history and why he thinks the crypto's are the money of the future. The only crypto I could really get excited about is a real gold backed crypto that has verifiable and audited gold thereby providing a real store of value and intrinsic worth. That might be in the works. I know their is crypto 'gold' coins but for the most part right now they seem to be backed with as much real gold as the current paper gold offerings from the bullion banks. The only reason I like XRP is because of the current price, overall market cap and because it's becoming a favorite of the bankers.
    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

  39. #79
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    16 This Thread is a Nudge to Get Y'all Moving and Try Out The Crypto Space..

    Quote Originally Posted by Rayku View Post
    I must have missed it. What specific demands did he make?
    As the title states. This thread is intended to encourage fellow members to move out of their comfort zones and buy some, err even just one coin. Learn how to handle it, where to buy it, why others are extremely excited about it.

    What is wrong with sharing great information?

    Why do you think that I do not have the right to try and keep this thread on topic?


    Mr Bails was being somewhat disingenuous, not sharing the facts that he had already completed significant research on the topic at hand.

    Mr Bails wants to have a philosophical discussion about, among other things,the meaning of money, and how cryptos can solve extremely difficult and contentious problems.

    Mr Bails is obviously an very intelligent person presenting himself as a poor dumb farmer.

    Now he has admitted to extensive knowledge about the subject, he will take his ball and go home, to heck with the rest of us.
    ************************************************** ******************************

    HF, thanks for the Great Youtube. Not quite done yet but super story teller and helpful graphics.
    et conciderunt ligna, ergo sum

  40. #80
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    Quote Originally Posted by paul bunyan View Post
    As the title states. This thread is intended to encourage fellow members to move out of their comfort zones and buy some, err even just one coin. Learn how to handle it, where to buy it, why others are extremely excited about it.

    What is wrong with sharing great information?

    Why do you think that I do not have the right to try and keep this thread on topic?


    Mr Bails was being somewhat disingenuous, not sharing the facts that he had already completed significant research on the topic at hand.

    Mr Bails wants to have a philosophical discussion about, among other things,the meaning of money, and how cryptos can solve extremely difficult and contentious problems.

    Mr Bails is obviously an very intelligent person presenting himself as a poor dumb farmer.

    Now he has admitted to extensive knowledge about the subject, he will take his ball and go home, to heck with the rest of us.
    ************************************************** ******************************

    HF, thanks for the Great Youtube. Not quite done yet but super story teller and helpful graphics.
    I read it differently, I'll leave it at that.
    Facts?? We don't need no stinkin facts...

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