T Nation

Cryptocurrencies


#181

If you bought ETH when it “crashed” back in late Dec at ~550 and sold them when they went up to 1300 for a couple of days back in mid Jan, you would have doubled your investment.

But, that being said, listen to dt79. This is not something you want to gamble large sums with unless you can truly, genuinely, deal with it.


#182

Ah, let me clarify.

I meant trade across a wide variety of coins.


#183

He’s 15. He shouldn’t be anywhere near trading cryptos.

Duke, if it’s interesting to you then read about blockchain technology. Still interested? Teach yourself to Code. It will pay off far more than the FUD you’ll feel when you wake up and half your money is gone.


#184

Agree 100% Just wanted to give a direct answer to his question, and was hoping that asking him to listen to dt79 would help with possibly losing his life savings.


#185

I should clarify that im not looking to buy into cryptocurrency ( maybe in like ten+ years if its even worth investing to by then) - just interested on the topic.

Yes, still interested. il read up on blockchain technology. I’ve done some c++ and html coding in the past but thats pretty basic stuff so im a coding noob. Not the easiest skill to learn.


#186

It appears Red Tuesday is over. Ripple is doing what Ripple does and recovering faster than BTC. Time to start clawing back slowly.


#187

Oh, Binance should be fine.


#188

Why the FUCK is DOGECOIN still not dead yet lmao!!!


#189

Are you planning on buying staples or some altcoins as well?


#190

Everything I’m invested in now. I don’t think they’ve bottomed out yet so I’m only gradually adding small amounts at the moment.


#191

Reason #1189 why novices should not trade crypto.

If someone was to buy $BCC.X right now, using BTC.X, at the converted price, of $1,745.59 they would be worse off than had they bought $BCC.X one hour ago, using BTC.X, at the converted price of $1,822.18.


#192

So much blood…


#193

Because 1 coin still = 1 doge. Unsinkable doge power.


#194

I’m kinda worried about the level of turbulence we saw with this mass drop in value. Imagine what happens when the political structure in America swings back towards the blue side and we see regs creeping out of Congress.

Imo China has been testing the water after getting into BTC themselves a while back. Shit’s gonna turn into a power struggle between countries before long.

image


#195

What happens to the value of BTC if say the US converts USD to a cryptocurrency (not sure how they’d do it…) or creates their own Treasury crypro?


#196

I wouldn’t worry too much about China. China is all about money. They won’t fuck with anything that can be potentially lucrative for them too much.

This is an example that people are usually most surprised at:

Yup. Systemic corruption is deep at all levels and in every industry. The 2nd gen Chinese cryptos like NEO definitely know this. There’s a reason why they’re not afraid of regulation.

China officials just want to make money and then run off to Canada, Singapore, Australia etc. They don’t give a fuck about international politics. All the silly threats usually are just for show. Look at how much these guys paid to enter the military to start their careers.


#197

Pretty much nothing. The vast majority of the value around cryptos relies on being decentralized. Don’t quote me but I think most cryptos that didn’t go the decentralized route are crashing and burning


#198

Ya, but none have been backed by a government entity, right? Can you imagine a cryptocurrency backed by the full faith of the US government? I feel like, BTC in particular, would be worthless overnight if that happened, but it’s not like I really know anything about it.


#199

You do realize that dollars ARE in effect cryptocurrencies backed by the US government? Most dollars in circulation only ever exist as debits and credits on banks’ ledgers.

Now governments and businesses will adopt blockchain ledgers for a bunch of things. They already are.

I just don’t see the utility of a government backed crypto. The whole point of crypto is that it’s a fiat currency with no governing body that can’t be counterfeited with the decentralized blockchain ledger.


#200

I don’t think numbers in a ledger = “in effect” a cryptocurrency, but I’m just thinking out loud anyway.


It seems like a lot of big players back state-backed cryptocurrencies:
http://strategiccoin.com/mastercard-open-state-backed-cryptocurrency/

I just don’t see governments staying out of it tbh.