• Best of luck to the class of 2019 for their HSC exams. You got this!
    Let us know your thoughts on the HSC exams here
  • Like us on facebook here

Official Cryptocurrency Thread (1 Viewer)

Neil_

Active Member
Joined
Jul 21, 2016
Messages
122
Gender
Undisclosed
HSC
2017
How did you dollar cost average down to $0.35?
You're obviously lying.

Sorry for your loss.
I'm not lying lol, my bank shows me how much I've poured into XRP. And according to my XRP wallet, I have 20,606 XRP which is roughly ~16,000 AUD atm after that great pump we had.

Now I know for a fact I didn't pour more than >16k AUD (or anywhere near) that into XRP, because I never had that much to begin with. (I'm a uni student lol)

Can I ask why you're so against XRP & Ripple? All your arguments are centred on the common theme of a better competitor taking the cake. Can you at least acknowledge this will be a revolutionary idea in settling international money transfers?
 
Last edited:

galaxys2000

New Member
Joined
Aug 11, 2017
Messages
13
Gender
Male
HSC
2018
All cryptocurrencies will go to zero.

The SEC has already rejected three separate bitcoin ETF applications due to concern about fraud and manipulation. They will never approve an ETF. The only regulation will be to make cryptocurrency harder to use. It's not used for anything significant but speculation. The technology doesn't work for a mass payment system, it will never be viable.
"All cryptocurrencies will go to zero." Big no. As long as theres demand for it, Cryptocurrencies will never go to zero - And as long as it has a use case, there will always be demand for it - Look at the currency crises experienced by emerging markets worldwide who’ve turned to crypto as a form of payment to hedge the rapid rates of hyperinflation following poor monetary management. Cryptos are so much more than just a payment system. Yes, it was originally built as a peer-to-peer payments system, but its evolved into so much more than that. Take a look at projects such as ripple (as much as I'm fundamentally against it), it still helps banks reduce costs by providing technology to facilitate international cross border transactions in a more efficient manner. Other tokens such as Walton are already disrupting businesses in the supply chain industry by tracking products on the blockchain using RFID technology (A massive use case for countries dominated with fraud and fake products, especially in one of the largest emerging markets in China). If you are to think that cryptos are solely built for a mass payment system, you are incredibly wrong on that :)). And like I said before, as long as there is a use case, there will be demand, and as long as theres demand, the price will never go to zero.

'The technology doesn't work for a mass payment system,' Agreed to an extent. Basic fundamental economics show that a deflationary currency will never act as a mass payment system because consumers will always delay their decisions and there will be no spending within an economy to generate demand side growth. In extension, a volatile currency will also never be used because consumers are unsure of its value and their purchasing power the next day. Agreed on this point. HOWEVER, I do think that in the long-term with greater regulation and legitamization that cryptos as a whole will become less volatile and more viable as a mass payment system - A great example of this is gold, whilst not necessarily a payments system, it was initially extremely volatile, but has stabilised over time into a robust store of value for investors.

That being said, Bitcoin will never be used as a mass payment system because its too inefficient and expensive. However, that doesn't mean it can't act as an investment vehicle & store of value for investors (In the long term once its stabilised) - Thats the direction I see bitcoin heading towards. Also, there is already development in other blockchain based technology that can act as viable facilitators for mass payment systems. Take a look at the IOTA Tangle; Every transaction thats made on the tangle verifies two transactions behind it, meaning that it is infinitely scalable, even on a microeconomic scale between a machine-to-machine economy as well as a peer-peer economy - An economy that runs on machine-to-machine microtransactions isn't even that far of a fetched idea, especially considering the growing development of automated technology & artificial intelligence. Eg. Automated cars will pay other cars on the road to overtake them if they want to reach a destination faster - An extension of paying more gas for a quicker transaction on the blockchain. Perhaps a better example is NANO and their lattice network, also an infinitely scalable payments system.

As for the SEC decision for an ETF, I honestly think its a matter of time. They’re going to continue to suspend and reject applications until rising levels of consumer demand outstrip the risks of implementing an ETF. When will this happen? I personally believe on either the next bull run, or the one after, where commercial investors will be looking to FOMO back into crypto and demand an easier investment option besides going onto online exchanges itself and verifying all their information, going through KYC etc etc. (Back to the Gold example, it took over 15years for the first Gold ETF to be introduced after hundreds of applications)
 

Graney

Horse liberty
Joined
Jul 17, 2007
Messages
4,441
Location
Bereie
Gender
Male
HSC
2005
Can I ask why you're so against XRP & Ripple? All your arguments are centred on the common theme of a better competitor taking the cake. Can you at least acknowledge this will be a revolutionary idea in settling international money transfers?
I don't believe XRP is a useful product for any purpose, or has any level of serious adoption or interest from banks, every claim about it is greatly exaggerated, it is nothing but hype and hot air.

I have never argued a better competitor will "take the cake" from XRP - that would imply XRP has any useful purpose, and in the absence of those competitors it would be used - not so.
 

Neil_

Active Member
Joined
Jul 21, 2016
Messages
122
Gender
Undisclosed
HSC
2017
Interesting... was it able to be proven if anyone ever actually tried it (and succeeded) before it was published?
They claim nobody gave it a shot before it got discovered and patched. That's the scary thing... How can they prove nobody did, when the whole ledger is obfuscated for privacy.

Did anyone here also read that Bloomberg comissioned group report which stated Monero would be $18,000 in 5 years? https://research.bloomberg.com/pub/res/d37g1Q1hEhBkiRCu_ruMdMsbc0A
 
Last edited:

Graney

Horse liberty
Joined
Jul 17, 2007
Messages
4,441
Location
Bereie
Gender
Male
HSC
2005
If you wanna make a good profit in 6 months time I recommend buying VERTCOIN VTC
On 13th Feb 2018, the day this post was made, Vertcoin was $3.30 USD, or 0.00037599 bitcoin.

Currently it is $1.91 USD, or 0.00025449 BTC.

Prices per coinmarketcap

https://coinmarketcap.com/currencies/vertcoin/

Lets see how this plays out come August 13, 2018
It's the big day, August 13, let's see what the 'good profit' we've made on vertcoin is:

$0.79 USD, or 0.00012443 BTC

Going from $3.30 to $0.79, losing over 75% of your original investment, could be interpreted as not a 'good profit',

Sorry for your loss.
Just an update on Gaddafi's Vertcoin tip. We are past the 6 month timeframe during which he predicted a good profit, however I came across this Vertcoin article which brought it to mind.

https://breakermag.com/51-attack-vertcoins-strength-fatal-flaw/

"A 51% attack exposes Vertcoin greatest strength as a fatal flaw... attackers managed to steal approximately $100,000 by double spending transactions through a carefully planned series of attacks in October, November, and December of this year"

Truely incredible investment advice.

Fwiw, the current Vertcoin price per coinmarketcap is $0.30 USD or 0.00008044 Bitcoin.
 

Graney

Horse liberty
Joined
Jul 17, 2007
Messages
4,441
Location
Bereie
Gender
Male
HSC
2005
My next post will be an update on Neil_ prediction of $18-20 ripple by end of 2018. Will it make it? It's a real nailbiter

It's now $2.27241 (ATH @ USD $2.80) analysts say it will grow to $18-20 (end of 2018), bear in mind those are conservative figures since it already beat this year's projections by leaps and bounds. Great opportunity to invest (FOMO) :party: :party:
 

Neil_

Active Member
Joined
Jul 21, 2016
Messages
122
Gender
Undisclosed
HSC
2017
@Graney

I fear not. This is healthy. Shake off the weak hands, let the strong remain.

Money can be made from movements both up and down.

And take note of these big events:

- Bakkt Physically Settled Futures Market in Jan 2019 (Created by NYSE alongside Microsoft, Starbucks, BCG)
- Nasdaq Futures Market in January 2019
- Fidelity Crypto Trading Platform (manages over $7T in assets)
- Goldman Sachs Crypto Trading Platform
- BlackRock ETF (coming once regulations are clear, likely after Bakkt and Nasdaq successfully enter market. Manages $6.3T in assets)
- VanEck, SolidX and CBOE ETF in Q1 2019 (assuming it gets approved)
- Several states in the US adopting Bitcoin for tax payments

Just a minor hiccup caused by the whales shaking off the weaker hands. All natural and normal phenomenons, nothing to fear.
 

Neil_

Active Member
Joined
Jul 21, 2016
Messages
122
Gender
Undisclosed
HSC
2017
"Note that pretty much all of this happened throughout 2018 during a bear market, making it clear that there is heavy institutional demand. These are the largest asset management companies in the world; they would not risk their time, money, and reputation on a space like cryptocurrencies if they felt there was not enough demand for the products they are creating. The launch of these products is just the first step. With some of the largest players entering crypto, it isn't wrong to assume that there will be several other companies to follow. I truly believe people are underestimating the magnitude of what is happening here.."

(copied from someone on another forum)
 

Graney

Horse liberty
Joined
Jul 17, 2007
Messages
4,441
Location
Bereie
Gender
Male
HSC
2005
Secondly, I dollar cost average to lower my average acquisition (my average price is now = 0.35 USD). We're currently at $0.63 USD. After hitting nearly 80 cents yesterday, just a minor correction.


Sorry for your loss
 

Neil_

Active Member
Joined
Jul 21, 2016
Messages
122
Gender
Undisclosed
HSC
2017


Sorry for your loss
LOSS? LOSS? hahahahaha, do you just pick and choose what you wanna read and believe in whatever you wanna believe in? You just ignored my previous post entirely :D

I sold a long time ago.profitzzz.JPG ask that mod pikachu if you don't believe me.

I've partially re-entered the market cos of this big dip, and will continue pouring more money as it drops further.

i'm happy for me.
 
Last edited:

Neil_

Active Member
Joined
Jul 21, 2016
Messages
122
Gender
Undisclosed
HSC
2017
Bc it went to 80c and dropped to 45, so i panic sold i didn't want it to drop below my avg acquisition cost, only to see it rise the coming day -.-
 
Last edited:

Squar3root

listening to tapes
Joined
Jun 10, 2012
Messages
4,888
Location
welcome to ur tape
Gender
Male
HSC
2017
Uni Grad
2025
LOSS? LOSS? hahahahaha, do you just pick and choose what you wanna read and believe in whatever you wanna believe in? You just ignored my previous post entirely :D

I sold a long time ago.View attachment 34714 ask that mod pikachu if you don't believe me.

I've partially re-entered the market cos of this big dip, and will continue pouring more money as it drops further.

i'm happy for me.
that is the worst fucking paint edit job i have ever seen in my life and i got my car resprayed by a lebo
 

Users Who Are Viewing This Thread (Users: 0, Guests: 1)

Top