I’ve never owned a fiat, but I did ride in fiat cabs for a week, in Cairo where there were millions of them.

quote:

Originally posted by esdunbar:
Nothing will bring out know it all investors like Bitcoin. I called Dead Eye out a couple weeks ago and he couldn't answer the questions posed to him then either.

I wonder who has read this particular Bitcoin thread from the beginning post with seeming advice to cash out of Bitcoin?

As I mentioned in another Bitcoin topic, Goldmoney (XAU.TO, XAUMF on pink sheet) is the safest investment for seasoned retired traders wise enough not to sort out which crypto wins or loses, and has gold's 5,000 year bubble finally popped and succumbed to crypto or does gold continue to reign and enter a bubble itself? Whatever happens, reputable, established middleman Goldmoney makes money. And you get extra pop when it is listed in NYSE. (BTFD - Canadian bankers shove it around for now.)

quote:

These internet educated investment savants as they view themselves are easy to spot.

Internet education seems to be a trend. Texas A&M University is likely not alone in awarding Master of Engineering degrees earned through Internet courses. This also explains why I increasingly cuss so much at broken software and networks.

quote:

If I recall correctly Jallen is a financial/wealth manager? do I have that right Jallen? He's a pro. ever heard him say "fiat" in this board? Nope.

JALLEN is of Buffet via Graham and Dodd school of analysis. I learned of Federal Reserve, fiat, gold and silver in a book that I read long ago. Later, I noticed that the book was endorsed by Ron Paul. Neither schools of thought are working as expected in this "Everything Bubble" h/t Jesse Colombo https://twitter.com/TheBubbleBubble

Was the book by Adam Smith?

You are right. I went to school on Securities Analysis by Graham and Dodd, and back when I was taking those courses at UT, the Aggies were all animal husbandry majors. Then somebody caught ‘em and made ‘em quit it.

I know of Adam Smith's invisible hand, but the book that I was referring to was an earlier edition of "The Creature from Jekyll Island". As mentioned in another Bitcoin topic, "Extraordinary Popular Delusions and the Madness of Crowds" was another very influential book that I read.

As for Aggie animal husbandry, Earl Rudder must have changed that before I enrolled. (I should visit his grave. I'm making a note of my phone now.)

In another Bitcoin thread, I cited a reference that Bitcoin's security will be cracked by quantum computers in 10 to 20 years. Warren Buffet has essentially said the same, but without mention of quantum computers.

Bitcoin's evolving team of developers might be able to redesign hashing to thwart quantum computers, but this is a gambling game for people younger than me.

ETA: Twitter has altered grammar with me multitasking between SIGforum and Twitter.

quote:

Originally posted by FishOn:

quote:

Originally posted by Aeteocles:
In the last day while everyone has been debating whether this is a scam, the value has jumped 50% to nearly $19k.

Today is a blow-off top.

And, it was.

https://www.zerohedge.com/news...new-crypto-crackdown

Shocking. The underlying fundamentals were so sound....

quote:

Originally posted by Georgeair:
Shocking. The underlying fundamentals were so sound....

Ha.

Well, cryptos are likely here to stay but governments are also unlikely to just roll over and give up financial control. It will be a long and volatile road.

Alt coins are basically having a 75% off sale right now. Buy, Buy, buy!

I am really mixed on this. Although cryptocurrencies definitely seem like a scam, it also seems like a rather brilliant idea to have a currency not tied to or controlled by any central bank or government.
Combine this with the historical fact that all currencies are only "worth" what people BELIEVE they are worth. Gold is only valuable because people have historically accepted its value (for various reasons....but not necessarily a pure "utility" value. Some purely "magical" )

So, I don't know if it will be BitCoin (that system seems to have theoretical flaws), and I don't know if the world is ready for any of them yet, but it seems like as soon as one cryptocurrency really takes off and establishes its long-term credibility, it will become a legitimate, accepted, world-wide standard.

Looks like the Winklevoss twins are no longer billionaires....so sad

Bitcoins, the 21st Century electronic version of International [Postal] Reply Coupons.

quote:

Originally posted by 2BobTanner:
Bitcoins, the 21st Century electronic version of International [Postal] Reply Coupons.

Well, today was the first time we've seen true fear in the markets for a long while. Down 1600 on the DOW, for a few mins. Tomorrow will be very interesting. Just do not forget that open ended mutual fund orders execute at end-of-day prices. If you want to take advantage of any intra-day moves, you must do it in cash accounts, via ETF trades.

<snip>
Fundstrat's Tom Lee, the only major Wall Street strategist to issue formal price targets on bitcoin, said in January that $9,000 is a "major low" for bitcoin and "the biggest buying opportunity in 2018."

Lee issued another report last week that maintained his $25,000 price target for bitcoin.

And Kay Van-Petersen, a Saxo Bank analyst who correctly predicted the cryptocurrency's rally at the start of 2017, told CNBC recently that bitcoin could hit between $50,000 and $100,000 this year.
</snip>

https://www.cnbc.com/2018/02/0...ryptocurrencies.html

quote:

Originally posted by DoctorSolo:
there are asics optimized for mining bitcoin but you can mine ethereum or a few other flavors with good gpus. thats why gpus have gotten expensive.

Mining is like turning energy into money, slowly.

This is what I don't get. You can "mine" lots of things. But the fact that you pot a lot of effort into making something doesn't mean it will be valuable to someone else. But as bitcoin gets more valuable, more people mine it, making mining more difficult and expensive, meaning the miners expect a higher premium, somehow making the price go up. That makes as much economic sense as blank baseball cards.

quote:

Originally posted by Dallas239:

quote:

Originally posted by DoctorSolo:
there are asics optimized for mining bitcoin but you can mine ethereum or a few other flavors with good gpus. thats why gpus have gotten expensive.

Mining is like turning energy into money, slowly.

This is what I don't get. You can "mine" lots of things. But the fact that you pot a lot of effort into making something doesn't mean it will be valuable to someone else. But as bitcoin gets more valuable, more people mine it, making mining more difficult and expensive, meaning the miners expect a higher premium, somehow making the price go up. That makes as much economic sense as blank baseball cards.

Tomorrow looks to be epic.

I was at a cybersecurity conference last month. I attended lecture on cryptocurrency/blockchain. I stayed after and chatted with the speaker. He has consulted to the core Bitcoin development team and now consults with the Bitcoin cash core development team. I find it interesting that some of those developers are the same people. Also that this person does not own any cryptocurrency.

I think there's some fundamental problems with blockchain such as it containing child pornography and it'll be there forever.

I am very interested in the future of blockchain technology, working in cybersecurity, I see some interesting use cases. I think there's about 100 startup ventures promising the use of blockchain to change some industry, but none of them have really done anything.

quote:

Originally posted by Crom:
I am really mixed on this. Although cryptocurrencies definitely seem like a scam, it also seems like a rather brilliant idea to have a currency not tied to or controlled by any central bank or government.
Combine this with the historical fact that all currencies are only "worth" what people BELIEVE they are worth. Gold is only valuable because people have historically accepted its value (for various reasons....but not necessarily a pure "utility" value. Some purely "magical" )

So, I don't know if it will be BitCoin (that system seems to have theoretical flaws), and I don't know if the world is ready for any of them yet, but it seems like as soon as one cryptocurrency really takes off and establishes its long-term credibility, it will become a legitimate, accepted, world-wide standard.

You nees to start reading whitepapers and understanding what the utility is. I recommend starting with bitcoin whitepaper. Then go to ICON.

Well if tou ever wanted to buy bitcoin on the cheap this next month or so will be the time. Lol

quote:

Originally posted by matai:
I am very interested in the future of blockchain technology, working in cybersecurity, I see some interesting use cases. I think there's about 100 startup ventures promising the use of blockchain to change some industry, but none of them have really done anything.

matai,

Can you send an e-mail to me, please?

E-mail is in my profile.

I am hoping that the price of BitCoin goes down even more and I will buy some. Just because of the big drop in price of BitCoin, lots of people are making fun of it, however I believe the price will jump again and stay up in the next few years. Then the people making fun of it will saying Coulda, Shoulda, Woulda...... Just all my opinion of course !!! God Bless