Crypto lounge thread

Enhanced Eddie

Pelican
Gold Member
godfather dust said:
SamuelBRoberts said:
Skank, do you know why Bitconnect might have a higher risk profile than say, NEO, or is it just another shitcoin to you?

Bitconnect is not an indicator of anything, it wasn't even a shitcoin it was a fraudcoin.

This.

The people who put their life savings in Bitconnect clearly didn't do much research. It has been fairly widely known for months that it was a scam.
 

kiryu

Sparrow
Gold Member
SamuelBRoberts said:
Skank, do you know why Bitconnect might have a higher risk profile than say, NEO, or is it just another shitcoin to you?

^100%. Everyone has been waiting for BCC's exit scam, it finally happened this week.
 

Brodiaga

Ostrich
Gold Member
Olav said:
SamuelBRoberts said:
Skank, do you know why Bitconnect might have a higher risk profile than say, NEO, or is it just another shitcoin to you?

^100%. Everyone has been waiting for BCC's exit scam, it finally happened this week.

IMO Bitonnect is less risky than many ICOs out there. It was such an obvious scam that many people warned about it even when the price was going up like crazy. Most other ICO tokens will eventually lose most or even all of their value once people realize these companies will never make nearly enough money to justify the token prices. Many of the companies that ICO'd will never make any money at all, though their owners will if they cash out on time.

Those crypto speculators who sell their tokens and take profits on time will make money. Some will make or have already made a fuck ton of money. The last bunch of greater fools will be left holding the bag. The only question is when it will happen.
 

dasher

Woodpecker
Brodiaga said:
Olav said:
SamuelBRoberts said:
Skank, do you know why Bitconnect might have a higher risk profile than say, NEO, or is it just another shitcoin to you?

^100%. Everyone has been waiting for BCC's exit scam, it finally happened this week.

IMO Bitonnect is less risky than many ICOs out there. It was such an obvious scam that many people warned about it even when the price was going up like crazy. Most other ICO tokens will eventually lose most or even all of their value once people realize these companies will never make nearly enough money to justify the token prices. Many of the companies that ICO'd will never make any money at all, though their owners will if they cash out on time.

Those crypto speculators who sell their tokens and take profits on time will make money. Some will make or have already made a fuck ton of money. The last bunch of greater fools will be left holding the bag. The only question is when it will happen.

If you compare to every shitcoin ico in existence you can make a turd look good.

In reality, Bitconnect being 'better' in some arbitrary comparison doesn't mean anything.
 
OGPUA said:
This.

The people who put their life savings in Bitconnect clearly didn't do much research. It has been fairly widely known for months that it was a scam.

Having started in Crypto last month, I already knew Bitconnect was a ponzi scheme on day 1 from all the crypto people on youtube and twitter. Those that got scammed were dumber than a drunk monkey.
 
I heard the St Louis central bank has plans to add bitcoin to it's reserves this year, though it might seem laughable now, lm calling 100k bitcoin by year end if central banks start buying.
 
Steve McQueen said:
I heard the St Louis central bank has plans to add bitcoin to it's reserves this year, though it might seem laughable now, lm calling 100k bitcoin by year end if central banks start buying.

Here is a link to the St. Louis Fed paper you are referring to. Bitcoin is here to stay. This paper is very informative and noobs can rely on it to get an overall idea.

St . Louis Fed's Opinion on Cryptos
 

Dvorak

Sparrow
Steve McQueen said:
I heard the St Louis central bank has plans to add bitcoin to it's reserves this year, though it might seem laughable now, lm calling 100k bitcoin by year end if central banks start buying.
So much untapped potential still. People are focusing on the dumb schmucks that are throwing their life savings at Bitconnect, but in reality most people that entered the market have barely put any money into it.

Would be good if regular investment funds start adding BTC/crypto in their portfolio, and we get a Bitcoin ETF. Should spike (and stabilize) the price. Could come in Q2/Q3 if regulation plays nice.
Next step is billionaires and big companies start using it for offshore banking and diversification. Then regular people and big companies start storing/using it as a payment method.

Still a lot of upside for the coming years, but regulation can fuck us hard, and there will probably be few more crashes along the way.
 

Skank_Hunt

Kingfisher
Gold Member
Yeah, 100k or even 1,000,000 is possible if banks, big companies, heck even the public sector simply add BTC for diversification of assets. It could be just 1%, or even less than that. It would still lead to huge money flowing into BTC.
 
Assessing the damage to my long-term bags this evening now that we're starting to see a recovery.

It's not pretty. I moved a lot to fiat, but I should've been more aggressive about selling shit. A bull market goes on so long you start to think it's the new normal... Dumb. I should've taken profits on a lot of stuff, particularly my Tierion, which is already on Binance and unlikely to see any more growth.
 
Been a boring week in Cryptovlle. BTC is stable-ish, but it's a bear stable-ish, so there's not much to do with alts. Can't even short it because the tethers are still pumping.

I'm just sitting around, mostly in fiat, waiting for it to make up its mind. I might buy some more $MAN tokens, I guess...

Anybody else doing anything interesting?
 

redbeard

Hummingbird
Gold Member
SamuelBRoberts said:
Been a boring week in Cryptovlle. BTC is stable-ish, but it's a bear stable-ish, so there's not much to do with alts. Can't even short it because the tethers are still pumping.

I'm just sitting around, mostly in fiat, waiting for it to make up its mind. I might buy some more $MAN tokens, I guess...

Anybody else doing anything interesting?

Taking this bear run as a time to relax. Trying to figure out moves for the next few months. Other than that - time to go outside for once.
 

cato

Sparrow
Gold Member
I went to the North American Bitcoin Conference last week in Miami. Here are some random thoughts on the event.

-It had over 4000 attendees which made the largest BTC event ever
-Over 95% of the attendees were men. Very few women and the only pretty women were the ones working the event.
-All the speakers were male. This caused a minor PR hit for the event because a lot of women were complaining about this in different Facebook groups I'm in. The organizer Moe Levin released a press release apologizing for this (Gay)
-I saw 6 lambos and 4 Ferraris parked right in front of the convention. The people that drove these cars were young guys
-It was an ICO pitchfest. Lots of interesting ICOS but I'm not sure which ones will succeed. Some of them definitely looked like scams. Some that looked like winners are T0 (T Zero), WanChain, Spice, Swarm, Telcoin, Car Vertical and others
-A lot of the speakers talked about how most tokens in the coming year will be security tokens instead of utility tokens. This brings extra regulations and it means that only accredited investors can participate in upcoming ICOs
-The networking events/party was held in Club Eleven. This was an interesting choice. Lots of women complained again.
-The enthusiasm was off the charts.
-An interesting anecdote from one of the speakers. When the price of BTC crashed in 2014 due to the triple bad news of Silk Road, Mt. Gox, and China regulations, BTC crashed all the way down from $1000 to $100 in a couple of days. He was speaking at a BTC event and even he was having doubts about its long term utility. He asked the crowd if it was over? And the crowd was defiant and told him "Hell No"
-Over 95% of the crowd was Republican, Libertarian, or Independent. A speaker asked what the crowd's political affiliation was and Republicans got the loudest cheer.
-Lots of diversity. The ICOS were from all over the world. Asia, USA, Europe, and Latin America

Overall, I had a good time and met some great people. You had a chance to talk with the founders of these projects and they were pretty accessible. This might change in the future. Who knows.
 

Meadowlark

Hummingbird
Gold Member
Just received an email from Robinhood (the no commission stock trading app) they're going to open a Crypto exchange very soon. I got on the early access list but it could be weeks before they let me in. I'll play with it and have a little write up when I get access.
 

RedPillUK

Pelican
This is interesting, someone spent $1000 on buying the top 100 cryptocurrencies on Dec 6th 2017 ($10 each), and he's writing about it here:

https://buyandhold100crypto.com/

He says he's planning on holding it all for 5 years, Even though that means he bought bitconnect, his overall gain so far is $1726 USD and 0.15 BTC. Pretty damn impressive for 7 weeks.
 
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