Who's getting in on the crypto-currency rush?

Discussion in 'DVU' started by HunterPKP, Dec 12, 2017.

Watchers:
This thread is being watched by 23 users.
  1. friedskillet

    friedskillet
    Expand Collapse
    First 38

    Likes Received:
    4,421
    idk i see a lot of big companies on there

    it's accepted everywhere in vegas too (casinos,stripclubs,etc)

    i think it's going to keep growing. the only people who seem to be against it are old jamokes who don't understand it

    edit: also overseas in the asia markets it's fucking huge
     
    Tiger Roll likes this.
  2. OpenMouthKissedaHorseOnce

    OpenMouthKissedaHorseOnce
    Expand Collapse

    Likes Received:
    1,572
    Disregarding the list of businesses out there that take bitcoin Japan has recently made it legal tender. China may be lifting their ban if they haven't already. And there's a whole lot of people in China and a whole lot of mining farms.

    I look at cryptocurrency kind of like gold. People buy it to hold onto it. Also it's not like i can pay for silly socks on overstock with a gold bar but i can with BTC so why buy gold?
    now if you're the kind of guy who takes out a 2nd mortgage to invest in BTC then you're in for a rough time possibly. BTC is just another way to diversify your investment portfolio.
     
  3. ACCfootprint

    ACCfootprint
    Expand Collapse
    Still rocks "Dabo 2008" bumper sticker

    Likes Received:
    3,078
    I’m hoping it goes to maybe 40k or so and then I’ll probably get out but even if I did get out, I would still hope it does very well.

    Our monetary system is broken and, in my opinion, creates most of the broader economic problems that we have (e.g., excessive debt, poverty by inflation/wealth inequality, etc). The possibility of a currency that holds its value would be beneficial to almost everyone.
     
  4. cuangler

    cuangler
    Expand Collapse
    First 38

    Likes Received:
    5,440
    So I moved my litecoin over to binance to buy ripple. It's transferred in and showing on my main account page but I can't buy anything yet. How long does it take before I can buy?
     
  5. friedskillet

    friedskillet
    Expand Collapse
    First 38

    Likes Received:
    4,421
    it took me about 6 hours yesterday

    transfers over overloaded as fuck rn
     
    cuangler likes this.
  6. Doc Louis

    Doc Louis
    Expand Collapse
    RCUSA Original

    Likes Received:
    3,954
    you mean like the cost of things never going up?
     
  7. ACCfootprint

    ACCfootprint
    Expand Collapse
    Still rocks "Dabo 2008" bumper sticker

    Likes Received:
    3,078
    I’m not saying nothing would ever go up but basic economics says that things get cheaper and more available over time as people figure out how to do things better and more efficiently. That still happens with newer technologies (e.g., TVs, computers, etc) but is masked in more mature industries by monetary expansion. Prices can’t broadly rise without there being more dollars in circulation - it’s just impossible. All else equal, when prices rise, poor people stay poor because it prevents them from acquiring assets. Bitcoin, with its fixed quantity of coins, could address those issues.
     
  8. Aaron Nevilles Pet Tick

    Aaron Nevilles Pet Tick
    Expand Collapse
    Dabo Wizard
    RCUSA Original

    Likes Received:
    755
    Why would you pay with bitcoin when it's used primarily as an investment tool right now. If you used a bitcoin right now, you'd be insane.

    I'm not against it, but there's currently very few ways to bet against crypto, so you kind of have to be along for the ride and hope none of the major investors pull out.
     
  9. JocasseeTiger

    JocasseeTiger
    Expand Collapse
    RCUSA Original

    Likes Received:
    430
    Is it concerning that the concept of bitcoin is a currency that is not manipulated by government yet no one wants to use it as a currency?
     
  10. friedskillet

    friedskillet
    Expand Collapse
    First 38

    Likes Received:
    4,421
    i'm not paying for shit with them

    i'm taking my earnings i get from them rising, and i'm using it to reinvest in other coins i think are gonna take off.

    but i get your point
     
  11. Adam

    Adam
    Expand Collapse
    First 38

    Likes Received:
    12,210
    Do you actually understand it? I hope so because I've been hoping someone could explain this to me.

    I can't wrap my head around where they come from, where they "exist" and where/how they are store, what makes them anonymous, what prevents someone from just making new ones up...

    Is a bitcoin just a code/password that someone could steal from you?
     
  12. friedskillet

    friedskillet
    Expand Collapse
    First 38

    Likes Received:
    4,421
    they're digital currency that you can store on either a hard drive, or digitally through certain software programs. it's just like any other currency, in that, the value of it fluctuates daily, except there isn't an actual physical item you are in control of.

    when i'm trying to explain it to someone i try to equate them to stocks. recently it's essentially become an investment tool for people, especially the alt coins. sure you can use them to purchase things, but it seems kind of silly to do it currently as the price just keeps rising.

    bitcoins are "mined" by people's computers. that is, they use their computer's processing power to solve immense computational problems, which just so happen to be the various transactions done w/ bitcoin around the world
     
  13. statebird

    statebird
    Expand Collapse
    Let's go rip some throats
    First 38

    Likes Received:
    5,570
    I don’t mean this to be condescending at all because I only
    when someone “mines” bitcoins they don’t create more coins do they? I thought the supply was limited to like 21 million coins and it would theoretically never grow past that supply.

    Do all crypto currencies work this way?
     
  14. kylebw7

    kylebw7
    Expand Collapse
    RCUSA Original

    Likes Received:
    4,420
    There's a McLaren 720s for sale for 25 Bitcoin. That's wild considering I almost bought a few hundred back when they were worth next to nothing I'm sure there's a few people that have some still from their days buying drugs online that find themselves with a few million $ now
     
  15. Adam

    Adam
    Expand Collapse
    First 38

    Likes Received:
    12,210
    So they're just a line of code?
    What prevents someone from stealing that line of code, or creating a new line of code and saying it's a valid bitcoin?

    I could see there being a database of all bitcoin codes against which a purported bitcoin code must be verified... but a single database with everyone in the world's bitcoin seems crazy. It could be hacked or, worse, manipulated by whoever created it.

    Also why are bitcoins so valuable if nobody is using them?

    Can anyone's computer mine a bitcoin? From where are they mined? A source where they exist and must be found, like a real mine, or are they created by the miners?
     
  16. statebird

    statebird
    Expand Collapse
    Let's go rip some throats
    First 38

    Likes Received:
    5,570
    Read up on block chains
     
  17. friedskillet

    friedskillet
    Expand Collapse
    First 38

    Likes Received:
    4,421
    technically no, they are "finding" the unmined bitcoins

    you are correct that there are a finite amount

    blockchains prevent your first and second questions from occurring.

    yes anyone's computer can mine a bitcoin, the processing power required will drive your power bill up more than you'd make in bitcoin. that's why you either need a couple of really good rigs, or need a cpu farm (like what they do in asia/russia)
     
    statebird and clemsontyger04 like this.
  18. statebird

    statebird
    Expand Collapse
    Let's go rip some throats
    First 38

    Likes Received:
    5,570
    So when somebody mines one, does it take it away from someone else?
     
  19. Doc Louis

    Doc Louis
    Expand Collapse
    RCUSA Original

    Likes Received:
    3,954
    People also like that psychological effect of an increase in a paycheck and then that other stuff like time value of money. But really how would interest rates work in loans and the fractional bitcoin would confuse people
     
  20. OpenMouthKissedaHorseOnce

    OpenMouthKissedaHorseOnce
    Expand Collapse

    Likes Received:
    1,572
    No no. Miners provide computing power to process transactions (blockchains are groups of transactions) and in return get some Bitcoin as a reward. Very generally speaking.
     
    statebird and friedskillet like this.
  21. friedskillet

    friedskillet
    Expand Collapse
    First 38

    Likes Received:
    4,421
    nope, they're "finding" new bitcoins as a payment for processing the transactions
     
    statebird likes this.
  22. Dabo's Dance Coach

    Dabo's Dance Coach
    Expand Collapse

    Likes Received:
    6,286
    The popular currencies have taken a huge dip over the last few days. Something to keep an eye on.
     
  23. HunterPKP

    HunterPKP
    Expand Collapse

    Likes Received:
    776
    Yep. Glad I cashed when I did. If Litecoin hits very low 100s or below 100 I’ll buy back in. Bitcoin taking a beating.
     
  24. clemtiger87

    clemtiger87
    Expand Collapse
    RCUSA Original

    Likes Received:
    95
    Bitcoin needs to die. It is the Blackberry of crypto.
     
  25. Heism4n

    Heism4n
    Expand Collapse
    World Champ
    First 38

    Likes Received:
    25,542
    Will buy more at $11,800 for Bitcoin

    Anybody know if there is anything to the supposed announcement between Facebook and Litecoin? If so, it will shoot up big time following the announcement.
     
  26. clemtiger87

    clemtiger87
    Expand Collapse
    RCUSA Original

    Likes Received:
    95
    Y’all get in on the SALT bump this week?

    Still really bullish on SALT, XRP and XLM. Think all three have serious growth potential in 2018.

    (TRON is my wild card at the moment)

    Anyone see anything else out there that is worth looking into?
     
  27. cuangler

    cuangler
    Expand Collapse
    First 38

    Likes Received:
    5,440
    Really enjoying this xrp ride now.
     
    u jelly and Tiger Roll like this.
  28. statebird

    statebird
    Expand Collapse
    Let's go rip some throats
    First 38

    Likes Received:
    5,570
    I’m not too late on ripple? Seems like more banks and credit card companies will jump on board but damn it’s had a wild ride already
     
  29. DV81

    DV81
    Expand Collapse

    Likes Received:
    457
    What's the easiest site to trade XRP on?
     
  30. clemtiger87

    clemtiger87
    Expand Collapse
    RCUSA Original

    Likes Received:
    95
    Best is to go and get ether on coinbase. Transfer it to another exchange (bitfinex is what I use) and then buy rips there.
     
  31. clemtiger87

    clemtiger87
    Expand Collapse
    RCUSA Original

    Likes Received:
    95
    Not too late. Would diversify and put a bit with XLM though as value for money gives you more upside.
     
  32. Tiger Roll

    Tiger Roll
    Expand Collapse
    allergic to jean shorts

    Likes Received:
    1,508
    Only a rumor at this point, but looks like XRP will be added to Coinbase in 2018, along with DASH and Monero, FWIW.

    If you are going to buy some in the near future I would wait until later on. Shot up last night and has already gone down .10 in the past few hours.

    [​IMG]
     
    #67 Tiger Roll, Dec 29, 2017
    Last edited: Dec 29, 2017
  33. Tiger Roll

    Tiger Roll
    Expand Collapse
    allergic to jean shorts

    Likes Received:
    1,508
    I use Binance.
     
  34. Tigers

    Tigers
    Expand Collapse
    All around cool guy
    Staff Member

    Likes Received:
    5,164
    thoughts on bitstamp? I want to get in on some ripple and they aren't on coinbase
     
  35. u jelly

    u jelly
    Expand Collapse
    Moderator
    First 38

    Likes Received:
    6,644
    Where are you looking at buying BTS that doesn't have XRP?
     

Users Viewing Thread (Users: 0, Guests: 0)