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Bitcoin  Rating:  Rating
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 Posted: Wed Jan 17th, 2018 08:25 pm
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srossi

 

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All cryptos are in freefall right now.  Bitcoin has plummeted under $10,000 and everything else is doing just as bad.  If you just bought in, you're taking a bath.  I'm waiting out the storm and hoping for the best. 



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 Posted: Wed Jan 17th, 2018 08:50 pm
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Ultimark



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I saw recently that hundreds of new currencies have been created. Not a good sign obviously. Thinking there will be a few survivors but they will be regulated. The days of anonymous investing may be coming to an end.

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 Posted: Wed Jan 17th, 2018 09:18 pm
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srossi

 

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South Korea is pushing back on Bitcoin and that's a stronghold for them, and you still have the futures market shaking things out.  I don't think it's price will collapse at all, but I think it will be valued more realistically and be less volatile. You also have a ton of newbies (maybe the majority of investors at this point) who don't know what they're doing and get scared away easily, so that doesn't help.   

As far as the other coins, I knew it had jumped the shark when a Trumpcoin was introduced and shot up to 47 cents from like 1 cent.  90%+ of these coins are going to zero.  There's still money to be made if you invest in the right coins though, but the days of picking one randomly and still making 50% on your investment are over, as it should be.  Even the legit coins like Ethereum and Ripple are just getting killed right now though, so again I'm just waiting out the storm. 

Last edited on Wed Jan 17th, 2018 09:20 pm by srossi



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 Posted: Wed Jan 17th, 2018 09:28 pm
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Ultimark



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I should have known this was coming. My brother who knows zero about pretty much anything called me last week and wanted to invest in Ethereum because the guy that works next to him at the Post Office is getting rich off of it. I told him that you are the guy who remains poor and should stay away.

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 Posted: Wed Jan 17th, 2018 10:50 pm
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LAF



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I've noticed that video cards for computers are sold out everywhere as people think they're going to be able to mine these currencies.

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 Posted: Wed Jan 17th, 2018 11:08 pm
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srossi

 

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LAF wrote: I've noticed that video cards for computers are sold out everywhere as people think they're going to be able to mine these currencies.
Mining hasn't been a way for the average person to make money in a few years now, so that's dumb.  Unless you steal electricity from a neighbor or business (and for a while some people did manage to do this at work on the sly), your electric bill will easily surpass any amount of crypto you're mining.



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 Posted: Wed Jan 17th, 2018 11:58 pm
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Superstar
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srossi wrote: LAF wrote: I've noticed that video cards for computers are sold out everywhere as people think they're going to be able to mine these currencies.
Mining hasn't been a way for the average person to make money in a few years now, so that's dumb.  Unless you steal electricity from a neighbor or business (and for a while some people did manage to do this at work on the sly), your electric bill will easily surpass any amount of crypto you're mining.

If your electric bill shoots up, you're going to get a visit from the police too because they'll assume you are growing weed.



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 Posted: Thu Jan 18th, 2018 11:59 pm
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krazykid18
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Srossi,

For those cheap coins like verge and other shit what can i use i signed up for gemini and after 2 weeks they finally let me thru but the bloodletting happen so i fell back

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 Posted: Fri Jan 19th, 2018 12:59 am
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srossi

 

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krazykid18 wrote: Srossi,

For those cheap coins like verge and other shit what can i use i signed up for gemini and after 2 weeks they finally let me thru but the bloodletting happen so i fell back

I use Bittrex for some of the cheaper coins like Ripple, Golem, and Potcoin.  I imagine they have Verge too.  Coinbase is a popular platform that might have the cheaper coins too, but I can only speak for Gemini and Bittrex since those are the two I have accounts with. 



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 Posted: Fri Feb 2nd, 2018 08:37 am
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I heard sweatcoin is where it’s at



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 Posted: Fri Feb 2nd, 2018 07:56 pm
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srossi

 

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Bitcoin is having its worst week since 2013. Under $9,000 now and dragging most of the other altcoins down with it.

Last edited on Fri Feb 2nd, 2018 07:56 pm by srossi



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 Posted: Fri Feb 2nd, 2018 08:10 pm
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krazykid18
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srossi wrote: Bitcoin is having its worst week since 2013. Under $9,000 now and dragging most of the other altcoins down with it.

Yeah it dropped like crazy 

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 Posted: Fri Feb 2nd, 2018 09:42 pm
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Ultimark



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No one really knows how to price it. These things were intended to be used for currency - to pay for shit, not as a way to get rich quick. There is zero intrinsic value to any of these currencies. That doesn't mean that a few are not viable as alternate currencies. I think they are but I just am not buying all of this as a long term investment. If anyone has made really good money investing, I would suggest getting the Hell out now.
edit - I should actually say the intrinsic value is unknown.  It isn't zero obviously. 

Last edited on Fri Feb 2nd, 2018 09:42 pm by Ultimark

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 Posted: Sat Feb 3rd, 2018 01:52 am
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broke



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Pretty rough day for Wall Street as well. People got ahead of themselves.



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 Posted: Sat Feb 3rd, 2018 02:02 am
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Ultimark



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I am happy to finally see a downtown. It was getting ahead of itself. Nothing wrong with a bear market. It creates opportunity. Hopefully the trend down continues.

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