Dogecoin

[fall]

Well, this is basically the problem I am talking about: people trade bitcoin because they try to make money but noone ask themselves a question: where this money come from? Which service bitcoin provide to have value? So far all the money are coming simply from more people buying, so, by definition, it is a ponzi scheme. There is little chance it becomes a value storage device (people will lose inters in it when its volatility become zero and return equal to inflation rate) and no chance it become money. So far noone proposed any theory how bitcoin (not the technology behind it) can create value - and the reason for that is it simply cannot assuming the 3rd world countries will get out of tehir pure economic conditions and dictatorship-type government. All this recent activity by big dogs is because there are lots of people who cannot see a big picture. Like with technical analysis, it is just a way to outsmart others in a big poker game. I never said that people cannot make money trading bitcoin - they can, but only when others lose even more. So, the total value of the bitcoin to economy is negative.

P.S. When I said nonsense about buying a dip: I meant noone knows it is a dip until the future. If everyone would have known it is a dip, noone would be able to buy because noone will be selling. Again, the question is: is Butler smarter then all these big dogs that are trading in volume and manipulate the market? Or is he a regular Joe in this game? I know I am a regular Joe, and I know that all people on TERB are too, but I also know that some people here do not know about it.

 

[sprite09]

Well, this is basically the problem I am talking about: people trade bitcoin because they try to make money but noone ask themselves a question: where this money come from? Which service bitcoin provide to have value? So far all the money are coming simply from more people buying, so, by definition, it is a ponzi scheme. There is little chance it becomes a value storage device (people will lose inters in it when its volatility become zero and return equal to inflation rate) and no chance it become money. So far noone proposed any theory how bitcoin (not the technology behind it) can create value - and the reason for that is it simply cannot assuming the 3rd world countries will get out of tehir pure economic conditions and dictatorship-type government. All this recent activity by big dogs is because there are lots of people who cannot see a big picture. Like with technical analysis, it is just a way to outsmart others in a big poker game. I never said that people cannot make money trading bitcoin - they can, but only when others lose even more. So, the total value of the bitcoin to economy is negative.

P.S. When I said nonsense about buying a dip: I meant noone knows it is a dip until the future. If everyone would have known it is a dip, noone would be able to buy because noone will be selling. Again, the question is: is Butler smarter then all these big dogs that are trading in volume and manipulate the market? Or is he a regular Joe in this game? I know I am a regular Joe, and I know that all people on TERB are too, but I also know that some people here do not know about it.

so people resort to , say, .gold, right ? really, what purpose does it serve when it's, say, the end of the world ? I can see where oil serving its purpose, but I'd rather have a whore, water, and/ or food than gold or crypto , lmao .

anyway, man , do your thing ...I'll admit it's still a bubble , but a lot of people like myself are trying to ride and hopefully our exit strategies work out

tbh, this is the the way i think of it rn....I could spend $300 plus on a whore , but I'd rather put that into crypto and hopefully get at least 2x (being conservative) ...if that doesn't work out, it's not the end of the world ..that's my take on it, really... so, it's about... opportunity cost and what one values

 

[Butler1000]

Well, this is basically the problem I am talking about: people trade bitcoin because they try to make money but noone ask themselves a question: where this money come from? Which service bitcoin provide to have value? So far all the money are coming simply from more people buying, so, by definition, it is a ponzi scheme. There is little chance it becomes a value storage device (people will lose inters in it when its volatility become zero and return equal to inflation rate) and no chance it become money. So far noone proposed any theory how bitcoin (not the technology behind it) can create value - and the reason for that is it simply cannot assuming the 3rd world countries will get out of tehir pure economic conditions and dictatorship-type government. All this recent activity by big dogs is because there are lots of people who cannot see a big picture. Like with technical analysis, it is just a way to outsmart others in a big poker game. I never said that people cannot make money trading bitcoin - they can, but only when others lose even more. So, the total value of the bitcoin to economy is negative.

P.S. When I said nonsense about buying a dip: I meant noone knows it is a dip until the future. If everyone would have known it is a dip, noone would be able to buy because noone will be selling. Again, the question is: is Butler smarter then all these big dogs that are trading in volume and manipulate the market? Or is he a regular Joe in this game? I know I am a regular Joe, and I know that all people on TERB are too, but I also know that some people here do not know about it.

Regular Joe. And a conservative type. Im not day trading, using margins or anything else. Buy and hold. Occasional buy of small stuff and see where it goes.

Im in it for years down the road.

 

[fall]

Just to reply to both Butler and Sprite posts above. I get the idea of putting in money you can afford to lose and see what happen. This is the best way to approach buying lottery tickets, playing in casino, or buying crypto. And it may work for you if you get out in time and have the other person to carry the losses in the very long run since in the very long run (200 years), the total return that a single bitcoin generates for all its owners will be negative. As long as people treat it as an alternative to going to a casino and willing to have negative expected return, it is fine. The problem arises is when people start think of crypto as of a valuable asset. Another problem that without regulation the game is rigged. Stock market have similar characteristic in teh short run with the following major exceptions:

1) A single share will provide a positive combined total return for all its owner over very long (200 years) interval
2) The existing regulation make the game less rigged.

Combining 1 and 2, a regular long-term (10-20 years) investor will, most likely, realise gains in stock market.

 

[sprite09]

Just to reply to both Butler and Sprite posts above. I get the idea of putting in money you can afford to lose and see what happen. This is the best way to approach buying lottery tickets, playing in casino, or buying crypto. And it may work for you if you get out in time and have the other person to carry the losses in the very long run since in the very long run (200 years), the total return that a single bitcoin generates for all its owners will be negative. As long as people treat it as an alternative to going to a casino and willing to have negative expected return, it is fine. The problem arises is when people start think of crypto as of a valuable asset. Another problem that without regulation the game is rigged. Stock market have similar characteristic in teh short run with the following major exceptions:

1) A single share will provide a positive combined total return for all its owner over very long (200 years) interval
2) The existing regulation make the game less rigged.

Combining 1 and 2, a regular long-term (10-20 years) investor will, most likely, realise gains in stock market.

yes , do your thing...I'm still putting money into index funds in my registered accounts but anything outside will be crypto

even Robert Shiller is tempted to get into the game lmao

Robert Shiller: 'Wild West' mentality is gripping housing, stocks and crypto

Nobel prize-winning economist Robert Shiller is worried a bubble is forming in some of the market’s hottest trades.

www.google.com

 

[sprite09]

looks like apple jumping on the bandwagon as well lol

Apple Is Looking for Crypto Experience in ‘Alternative Payments’ Job Post

Apple’s payments unit is looking for a crypto-savvy biz-dev specialist to lead partnership efforts.

www.google.com

 

[Butler1000]

looks like apple jumping on the bandwagon as well lol

Apple Is Looking for Crypto Experience in ‘Alternative Payments’ Job Post

Apple’s payments unit is looking for a crypto-savvy biz-dev specialist to lead partnership efforts.

www.google.com

No doubt Facebook, Microsoft, Google and many others are in the works as well.

 

[sprite09]

No doubt Facebook, Microsoft, Google and many others are in the works as well.

agreed

 

[Mencken]

Consider.. the first commercial transaction of bitcoin (where something was purchased) was 10,000 BTC for 2 pizzas. The value was $41 US.

First, $41 seems like a lot for 2 pizzas. Perhaps extra large, extra cheese...

And, in hindsight, expensive at today's bitcoin value... whether $350 Million or $600 Million (based on bitcoin's values over the past few months).

I don't know of any other asset or currency or collectors item that has seen this sort of value change in 11 years.

So... bitcoin could go down, it could go up. But will it disappear? Or, will there be a time when no one wants it, and it's value is 0? I think not.

And so I say there is a demand for it. People want it. And why they want it varies, but among the reasons are that it does fill a role as a currency that other currencies can't easily duplicate. I can buy bitcoin in any currency virtually. And I can sell it in virtually any currency. And while the transaction is public all that is public is that a transaction happened, and the information supplied solved the mathematical requirements (I oversimplify, but the public ledger is numbers, not names and addresses). So as far as the bitcoin part of the transaction it is anonymous. The real money in and out of banks may not be so anonymous.

People say that as a currency it sucks, because of the volatility. That is true. People say that it is also a lousy store of value, because of the volatility. That is true. But anyone that invested in it "at the right time" may have done well.

So people want it. There is a limited supply of it, with a maximum of 21 million (because of the mathematics of it) and many have already been lost.

So...it may well be worth more some day, next week, next month, next year...who knows.

Having said all of this I do not own any.

 

[Phil C. McNasty]

Crypto takes another hit this morning

Dogecoin

Features DOGE USD price, real-time (live) charts, dogecoin news and videos. Learn about the dogecoin price, crypto trading and more.

www.coindesk.com

 

[Butler1000]

Crypto takes another hit this morning

Dogecoin

Features DOGE USD price, real-time (live) charts, dogecoin news and videos. Learn about the dogecoin price, crypto trading and more.

www.coindesk.com

When you buy stocks, do you automatically panic sell when the market drops? Or do you see bear moments as opportunities to pick up cheap?

 

[Phil C. McNasty]

When you buy stocks, do you automatically panic sell when the market drops? Or do you see bear moments as opportunities to pick up cheap?

DUH!! I know that.

But for those who bought BC at $60K or Doge at $0.70, you're gonna be waiting a while to see a return

 

[sprite09]

DUH!! I know that.

But for those who bought BC at $60K or Doge at $0.70, you're gonna be waiting a while to see a return

Disagree; it's volatile and thus it can swing back up pretty quickly, especially since the numbers you've mentioned arent considered the psyhcological resistance levels.

 

[Butler1000]

DUH!! I know that.

But for those who bought BC at $60K or Doge at $0.70, you're gonna be waiting a while to see a return

Maybe 6 months, maybe less. This was a market correction. They happen every four years. Bitcoin has dropped up to 83% before.

This time however institutional investers are involved. And there were some shenanigans by them to shake some loose hands. A lot of Bitcoin was bought in high volume and moved to cold storage wallets. More than usual. And quietly.

Crypto market penetration is rising. And with it so will the market cap. Prices will rise again.

 

[HungSowel]

The upper limit to most Crypto is Moore's Law, cutting edge chips are at 5nm which is about 20 silicon atoms wide. I am sure we will get to 3nm and maybe 2nm, but that is the end of the road for silicon and we will probably hit that in 4 years.

I have been farming Chia which uses large amounts of hard drive storage instead of computational horsepower as the resource to turn into coin. There are two ways to calculate 6x6, you can calculate it using convention computation or you can retrieve the stored result of 36 from a table in the harddrive. I am only mining it because it uses very little energy and I have old hard drives that are no longer useful to me. 3 weeks ago when I first started mining, the estimated time to win a coin was 3 months, now it is 6 years.

 

[Phil C. McNasty]

Doge now under $0.33 and Bitcoin now under $33K

Dogecoin

Features DOGE USD price, real-time (live) charts, dogecoin news and videos. Learn about the dogecoin price, crypto trading and more.

www.coindesk.com

 

[|2 /-\ | /|/]

It was under .3 a few times in the past month. Had strong resistance and rebound at .26. The crypto still pinged to bitcoin and they speculate this is the wyckoff accumulation for bitcoin and other major crypto to shake paper hands and accumulate as much crypto at low prices.

 

[poker]

This is what I'm worried about, Coinsquare and Newton want too much private info.
They want your address, phone# and 2 pieces of government ID.
Thats a hacker's dream come true. Way too risky!

Coinsquare has had a ton of issues processing orders. There own network is a mess.

 

[Phil C. McNasty]

Dogecoin has dropped below 30 cents

Dogecoin

Features DOGE USD price, real-time (live) charts, dogecoin news and videos. Learn about the dogecoin price, crypto trading and more.

www.coindesk.com

 

[Butler1000]

Coinsquare has had a ton of issues processing orders. There own network is a mess.

Yup. I started with them. Switched to NDAX. A million times better.