Bitcoin and Crypto Talk (Merged)(includes NFT) (2 Viewers)

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Holy ****

https://blog.patricktriest.com/analyzing-cryptocurrencies-python/

This is something that apparently isn’t that crazy to do as a hobbyist, think about what kind of analytics are being deployed to this market. With massive human participation in a fluid, liquid, market in asset with no direct connection to any tangible or regional interest? It’s perfect for algorithms that aim to predict moves or find correlations in other currencies based on the move of one.

It’s all so SciFi. Institutional money has no business in crypto - that’s reckless.
 
superchuck500 said:
Holy ****

https://blog.patricktriest.com/analyzing-cryptocurrencies-python/

This is something that apparently isn’t that crazy to do as a hobbyist, think about what kind of analytics are being deployed to this market. With massive human participation in a fluid, liquid, market in asset with no direct connection to any tangible or regional interest? It’s perfect for algorithms that aim to predict moves or find correlations in other currencies based on the move of one.

It’s all so SciFi. Institutional money has no business in crypto - that’s reckless.
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Man that's scary.

Like you said, institutional money should stay far clear of this. One thing goes wrong and it could all be wiped out.

This reminds me of when all the states were printing their own money prior to the US centralizing currency production and regulation.

Shortly after all those national bank notes became obsolete and worthless.

The general public still has no idea how how Bitcoin or any others work. They just hear a name on the news.. Hell I bet if you did a man on the street, most people would think Bitcoin was an actual physical coin.
 
DomePatrol2005 said:
anyone into mining coins? alternate from bitcoin? I am looking to get about 50 - 100 computers mining several hours a day. DM?
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I found this site which lead me to mining curecoins as they were most profitable, but the target moves so much and so fast it's a crap shoot.

I was mining ETH and with that CPU is basically worthless, you need GPU's which are way overpriced due to demand. You'll want to research the hash rates on any card you want and you'll find that they are 600+ each to get. Then with that many systems running, you'll need to do that in a datacenter unless you have some kind of commercial quality air conditioning or live in the arctic circle.

Curecoin uses CPU as well, but it's less efficient than the GPU. I can't really say about any other, but I think that is generally the case that you need high powered GPU cards.

It might be a better ROI to just get a contract.

https://www.cryptocompare.com/mining/guides/how-to-choose-a-bitcoin-or-ethereum-mining-contract/
 
So since my post expressing my interest in verge it's gone from 65 cents to 3 bucks ... documented post obviously hope I helped someone.
 
Holy hell the bubble that has formed. Crypto's are all the rage in group messages on facebook, message boards, hell even Fox News and NPR radio are basically doing informercials on bitcoin. It feels like a giant pump and dump.

I sure wish I jumped in bitcoin a few years ago but with all the different crypto currencies out there and so few actually being used for anything along with everyone jumping in tells me to run like hell. I want to short it but have a feeling all the volatility is making some institutions a hell of a lot of money right now.

Starting to think I'm just a pessimistic investor.
 
bclemms said:
Holy hell the bubble that has formed. Crypto's are all the rage in group messages on facebook, message boards, hell even Fox News and NPR radio are basically doing informercials on bitcoin. It feels like a giant pump and dump.

I sure wish I jumped in bitcoin a few years ago but with all the different crypto currencies out there and so few actually being used for anything along with everyone jumping in tells me to run like hell. I want to short it but have a feeling all the volatility is making some institutions a hell of a lot of money right now.

Starting to think I'm just a pessimistic investor.
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No, you're absolutely right. Anyone who spends any time with it comes away with a secure opinion that it is a bubble. If you're looking to invest, it's a poor choice. That said, just because something is a bubble doesn't mean you can't make money off of it. In fact, bubbles provide some of the best returns you could ever hope to get. Institutional money is trying to get into bitcoin but apart from private (e.g. hedge) funds, there isn't much happening yet. But there are hundreds of ETF applications pending and if any of those open up, it could easily run up another 10 to 100 fold.

The folks on the tech side have already left bitcoin for some operational reasons. I don't know enough about the blockchain technology to know whether the issues with bitcoin (e.g. processing times) can be reworked or whether that is fundamental to how it works. In evaluating its value for transactional purposes, you have to be able to determine how much of those characteristics are unique to bitcoin - if the answer is zero, it's easy to imagine that a better evolution will replace it. But maybe not - first in often has advantages that copycats never achieve, even if the copies are better in some respects.
 
I was listening to an economist on the radio this morning.He called Bitcoin the modern day confederate dollar.
 
faceman said:
I was listening to an economist on the radio this morning.He called Bitcoin the modern day confederate dollar.
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It's an interesting analogy. Without hearing his comments, I would have to suspect that his rationale is that bitcoin's current value is its connection to a structure that will be short-lived.

That may or may not be true. If anything, bitcoin shows that technology can provide non-tangible currency not tied to a particular nation or political structure. That has value, even in legitimate applications - such as international transactions that can be accommodated simply on the basis of bitcoin or some similar currency that does not have to do through the exchange process. The transaction is set in bitcoin and the parties to the transaction deal in terms of bitcoin - perhaps from bitcoin they have and use, or perhaps through an exchange that they handle on their respective ends without that function having to be accounted for in the actual transaction. Of course, international business has been doing that same thing with the USD or Euro for years, so that function is simply electing cryto-currency over fiat currency.

But to truly analogize to the Confederacy, I think you would have to have a basis for likening bitcoin to a short-lived nation. I think everyone should recognize that bitcoin may easily end up being a note in history, a building block upon some different future - but to say now with conviction that it is doomed is nonsense. There's no way of knowing that.
 
superchuck500 said:
No, you're absolutely right. Anyone who spends any time with it comes away with a secure opinion that it is a bubble. If you're looking to invest, it's a poor choice. That said, just because something is a bubble doesn't mean you can't make money off of it. In fact, bubbles provide some of the best returns you could ever hope to get. Institutional money is trying to get into bitcoin but apart from private (e.g. hedge) funds, there isn't much happening yet. But there are hundreds of ETF applications pending and if any of those open up, it could easily run up another 10 to 100 fold.

The folks on the tech side have already left bitcoin for some operational reasons. I don't know enough about the blockchain technology to know whether the issues with bitcoin (e.g. processing times) can be reworked or whether that is fundamental to how it works. In evaluating its value for transactional purposes, you have to be able to determine how much of those characteristics are unique to bitcoin - if the answer is zero, it's easy to imagine that a better evolution will replace it. But maybe not - first in often has advantages that copycats never achieve, even if the copies are better in some respects.
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Don't get me wrong, I absolutely love the idea of Bitcoin. I love taking currency out of the hands of central banks and governments.

I'm also smart enough to know that the second institutions get involved it's all over with and when it's time for someone like Goldman and the US Government to want to drive the price into the ground they can make it happen overnight. The good news is it probably wont happen until institutions can get on the short side to do it.

I have neighbors, my kid's school teacher, my father and a TON of friends dumping money into crypto right now. Yes, it can certainly run up another huge amount but I just feel like the fall is so much bigger than the climb at this point. Wall Street doesn't let the public pile into a run up like this without getting burned.

As far as comparing it to the modern day confederate dollar, that isn't really a good comparison.

It's more like a penny mining stock that exploded in value after rumors they've found one of the biggest gold reserves in history but we've yet to see any actual gold. The future will tell and I would suspect that the future isn't that far away.

I guess it's a safer play than a casino but only slightly.

Then again, others were saying the same thing I'm saying when bitcoin hit $100, they said it when it hit $1000, $5000, etc. What makes me right this time?
 
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DCSaints_Fan said:
Bitcoin cash (BCH) just hit CoinExchange with a vegeance. Price went from $1400 to $8500 in like 30 minutes
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I tried to buy it last week when it was $1800 and I couldn’t find an exchange that I was comfortable with opening an account
 

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