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Crypto

I’ve followed the crypto market closely for the past couple of years, researching Bitcoin, Ethereum, ICOs, and everything else from an investment standpoint. I’m fascinated by these technologies and how fast the space is growing. Whenever I bring up anything crypto-related to colleagues or friends in the profession I usually get a “cool story bro”. Up to this point it seems like the profession has largely disregarded anything in the crypto market. I haven’t met another person in the investment profession who any interest in the crypto market whatsoever. has  Am I the only investment professional on the planet interested in crypto?

WTF does that even mean, researching? There’s nothing to research. It’s all make believe stuff. Only guys who get into this stuff ate drug dealers and libertarian ideologues who like it more abstractly than for what it actually is. 

The consequence of the propagation of second-order simulacra is that, within the affected context, nothing is "real," though those engaged in the illusion are incapable of seeing it

I, the machine, show you a world the way only I can see it.

my homie  pokhim in it

"You want a quote? Haven’t I written enough already???"

RIP

Well, it is certainly interesting, but an asset with 100% annualized vol doesn’t belong in my portfolio at the moment.

“The aliens on Mars cloned Hillary Clinton.” - Turd Furgeson

Keystone157 wrote:

Am I the only investment professional on the planet interested in crypto?

Definitely not, but most are too butt hurt to admit it. 

i’d venture to say everyone in the community is interested and follows it on a continual basis. i wouldnt mind subscribing to a ICO 

I don’t feel I understand it enough to make any big moves in crypto. 

"It is a rational thesis that we are all within a dream; it will be a mystical sanity to say that we are all awake." - G. K. Chesterton

yeah wrong thread.

ive followed cryptos for years, bought some bitcoin in like 2011 or 2012 for $25 (sadly sold at ~200) and read up on developments but dont have the excess capital to put into it and dont feel strongly about it one way or another. I find it an incredibly interesting experiment though

'A flute with no holes, is not a flute. And a donut with no hole, is a danish'

What the wise man does in the beginning, the fool does in the end… I don’t even know what’s going on so I’m staying away. Mentioned it in the thread in the investing forum, one of my super IT savvy friends said back then said  ”hp, can you please loan me some money to build a mining rig? Bitcoins are around a buck now, they will go up with time as more people find out about! We’ll split the profits HP!!!!”

:( x $10,000,000+

We’re gonna win so much, you may even get tired of winning. And you’ll say, 'Please, please. It’s too much winning. We can’t take it anymore. Mr. President, it’s too much.' And I’ll say, 'No, it isn’t!' We have to keep winning!

Dude.. i’m in it. Don’t understand much about it.. not many people do. There is far too much hype and BS around which adds to volatility. You look at all the bitcoin forums and people are hyping up ICOs so they can pump and dump. 99% of all these currencies will be dead in 2020.

The whole premise of this crypto stuff is that it makes transactions faster and more secure. At some point in the future one of these currencies will take off - a major bank will start using it to transfer currency around the globe and eliminate all settlement times. It may also be used a value storage.

Personally.. i don’t have a view on which currency is going to make it big. So i just bot equal amounts of the top by market cap -  LiteCoin, BitCoin, Ripple and Ethereum… I have it stashed in a wallet and maybe (just maybe) in 10-20yrs time that wallet till be worth +£1m. Better to be in than out…

I’m interested but haven’t followed it closely until recently.

My story is similar to hp’s. One of my buddies started mining bitcoin in the early years and tried to convince me to get in on it. At the time I was more interested in motorcycle parts. He recently sold a f*ckton of it and has retired (at 29!) to travel the world and podcast. 

Now it’s so high that I’m not comfortable trying to get in. I’ve looked into Ethereum, but still don’t understand how it works well enough.

RIP bchad - the long-winded peacemaker of AF

SportBiker wrote:

I’m interested but haven’t followed it closely until recently.

My story is similar to hp’s. One of my buddies started mining bitcoin in the early years and tried to convince me to get in on it. At the time I was more interested in motorcycle parts. He recently sold a f*ckton of it and has retired (at 29!) to travel the world and podcast. 

Now it’s so high that I’m not comfortable trying to get in. I’ve looked into Ethereum, but still don’t understand how it works well enough.

This, I know quite a few people that seem to have just got in at the right time.  I have one buddy who seems to really understand it, but I’m still not quite sold.  I get the more efficient general ledger and contracts piece of the tech.  I’m not sure I buy into bitcoin and others completely replacing the current monetary system.  

I also am very skeptical of the whole ICO process.  Not a lot of visibility, yet a tremendous amount of money has been sunk into the space in a relatively short time period.  To be fair, I haven’t looked at an ICO pitch, but it just seems too scary for me.

i got a buddy who made like $1.2m on bitcoin.  the amount they invested quadrupled if not quintupled. at its peak it was like 20% of their net worth. anyways, they have sold it and paid off some mortgages. they started with a bitcoin mining operation.

there is a netflix documentary on bitcoin. have not checked it out yet, it was recommended to me after i saw the ackman documentary. anyways, i’ll report back when i watch it.

i will never buy bitcoin ever. 

I love my cheese. I got to have my cheddar.

Has anyone ever looked at all of these cryptocurrencies? Not just Bitcoin or Ethereum…the small ones. I knew there were a lot of them but it is beyond ridiculous – there are hundreds of them and they are worth a lot. People are creating these things out of thin air and selling them for hundreds of thousands of dollars to complete suckers. I’m sure the sales pitch is “if you bought Bitcoin in 2012 you’d be a millionaire…here is your chance to get in”. The cryptocurrencies with the 200th to 300th largest market capitalizations are valued in total between $2.9 million and $8.4 million. That is a lot of money for these things. ”HempCoin”, “TrumpCoin”, “DopeCoin”. Programmers/Developers are having a field day. What a total scam.

you know you hit the top when …

"You want a quote? Haven’t I written enough already???"

RIP

The consequence of the propagation of second-order simulacra is that, within the affected context, nothing is "real," though those engaged in the illusion are incapable of seeing it

I, the machine, show you a world the way only I can see it.

Tommy83 wrote:

Has anyone ever looked at all of these cryptocurrencies? Not just Bitcoin or Ethereum…the small ones. I knew there were a lot of them but it is beyond ridiculous – there are hundreds of them and they are worth a lot. People are creating these things out of thin air and selling them for hundreds of thousands of dollars to complete suckers. I’m sure the sales pitch is “if you bought Bitcoin in 2012 you’d be a millionaire…here is your chance to get in”. The cryptocurrencies with the 200th to 300th largest market capitalizations are valued in total between $2.9 million and $8.4 million. That is a lot of money for these things. ”HempCoin”, “TrumpCoin”, “DopeCoin”. Programmers/Developers are having a field day. What a total scam.

Dude, but what about Jack who bought the magic beans? He grew a fucking hench beanstalk and scaled that shit beyond the clouds. How many muppets turned down those beans before Jack jumped in? 

Buy all the coins you can, buy buy buy. You’re guaranteed not to lose!! Trust me, I’m a Charterholder.

why bitcoin price is so high it’s because: 1st the hype and the speculative bubble but also because they have limited supply, 21 millions. So far only 16.5 millions has been mined, that’s mean price will most likely continue to grow until the breaking point of 21 millions, at that time people will start to check others crypto like Ether (which is by far better than bitcoin) because no more mining could be done with bitcoin. Bitcoin will loose interest in profit of others cryptocurrencies, cryptocurrency that have no limited supply where people can continue to do mining.

Btw mining it’s what support block chain, you “rent” your server in exchange of some cryptocurrency, it’s like a commission.  

I’m interested in crypto’s as a currency, but not as an investment. Which is to say, I see a lot of utility in the product existing, but I’m not certain it has the necessary features to remain a vehicle for growth.  It seems like every jackoff with an advanced degree in mathematics could make their own version of one of these and assuming they had solid tech, would be able to provide all the functional utility of bitcoin or etherium or whatever else.  Assuming that is the case, and I’ve not yet seen evidence that it isn’t, there’s nothing but bubble here on the investment front. 

Top tip - buy STOX. Right now it’s trading at $2.63 but this is about to get pumped! Mayweather is coming out tomorrow with STOX on his shorts and everybody who anybody is gonna be buying that!! I see it jump 10x overnight.

Do it!

can’t the big banks get together and create their own cyptocurrency in like 5 days? and then say that this bank-banked currency is accepted at big banks, thereby crushing any non-bank-backed cryptocurrency? i don’t see why the big banks would be like “yeah, let’s adopt bitcoin or dogcoin for our cryptocurrency when we can just take the best of all and put it out there with our and the government’s backing”. weren’t bitcoin and most coins founded on black markets that basically every bank and government want to eradicate? wouldn’t sending the value of bitcoins and every cryptocurrency to zero accomplish a lot of what they want to acheive?

Matt Likes Analysis wrote:

can’t the big banks get together and create their own cyptocurrency in like 5 days? and then say that this bank-banked currency is accepted at big banks, thereby crushing any non-bank-backed cryptocurrency? i don’t see why the big banks would be like “yeah, let’s adopt bitcoin or dogcoin for our cryptocurrency when we can just take the best of all and put it out there with our and the government’s backing”. weren’t bitcoin and most coins founded on black markets that basically every bank and government want to eradicate? wouldn’t sending the value of bitcoins and every cryptocurrency to zero accomplish a lot of what they want to acheive?

Doge! Pronounced like dough je!

The consequence of the propagation of second-order simulacra is that, within the affected context, nothing is "real," though those engaged in the illusion are incapable of seeing it

I, the machine, show you a world the way only I can see it.

We’re gonna win so much, you may even get tired of winning. And you’ll say, 'Please, please. It’s too much winning. We can’t take it anymore. Mr. President, it’s too much.' And I’ll say, 'No, it isn’t!' We have to keep winning!

So wait, just so were clear, these things have no real value, right? Who is buying bitcoin other than people who want to wait to see it go up in price?

The consequence of the propagation of second-order simulacra is that, within the affected context, nothing is "real," though those engaged in the illusion are incapable of seeing it

I, the machine, show you a world the way only I can see it.

birdman12345 wrote:

So wait, just so were clear, these things have no real value, right? Who is buying bitcoin other than people who want to wait to see it go up in price?

Well, some businesses use crypto. I have used it for a currency rather than an investment. 

"It is a rational thesis that we are all within a dream; it will be a mystical sanity to say that we are all awake." - G. K. Chesterton

it will always be dogcoin to me.

I like Peter Schiff’s rants on crypto, highly entertaining. laugh

Personally I have zero understanding of the topic, and zero interest in building an understanding. 

"You want a quote? Haven’t I written enough already???"

RIP

igor555 wrote:

whaaaaaaaaat

http://www.zerohedge.com/news/2017-08-25/burger-king-russia-introduces-w...

i can’t wait to use my whoppercoins to buy a house.

Quote:

Burger King’s decision comes amid a thaw in Russia’s posture toward digital currencies. After initially threatening to jail digital-currency users, the Russian government is reportedly considering legislation to legalize digital-currency payments. Earlier this month, an aid to Russian President Vladimir Putin announced that he would be seeking to raise $100 million to build a large bitcoin-mining operation with the goal of eventually claiming 30% of the bitcoin network’s hashing power.

More like theyre gonna track down satoshi and break his bones until he hands over his bitcoin stash.

The consequence of the propagation of second-order simulacra is that, within the affected context, nothing is "real," though those engaged in the illusion are incapable of seeing it

I, the machine, show you a world the way only I can see it.