So this woman at my job is trying to discredit the technology/security behind Bitcoin, she's completely out of her mind. This is also the same woman who is scared to order products off of Amazon.com. Pure genius.
My dad works as a currency trader at HSBC and they all joke and make fun of Crypto and Bitcoin all day. He told me he thinks they feel threatened. He's probably right. Cryptocurrency allows people to do what they do with their own money, instead of trading the bank's fiat to only profit the bank. Same reason why big bankers like JP Morgan and big organizations like Bloomberg keep putting down cryptocurrency. It has the potential to put earning power back in the hands of the people. On a side note, my dad hates his job so much, bahaha. He's so psyched about retiring. He's the oldest guy there and all these people keep getting fired for being sleazy or being entitled shitbags. Don't ever work for a bank.
This South Korea FUD is ridiculous... I lost 1/3rd of my portfolio's value. Just going to sit and wait for it to pass and recover like it did last time when China cracked down on cryptocurrency. The big traders will pack up and move to Japan and the market will live on.
China is doing a new crackdown but I think it may be to both cut back on the drain on energy resources from miners and to boost their own coins like NEO. I don't believe anyone will really shut down their markets. Imagine telling 10% of your population that they no longer had access to their bank accounts. But we are all taking a temporary scare. HODL. And/or buy now when it is low again. I wish I could but no extra resources right now.
This is fucking amazing. Kudos to whoever made that. (For those who aren't crypto-savvy, that BitConnect mention at the end is a jab at the now defunct exchange that shut down this week because of legal issues and customer dissatisfaction. Their coin plummeted to less than half of what it was formerly worth. Sucks for investors, but I stayed far away from it specifically because it was an ICO and they had ad marketing. It sounded shady to me from the start.) But in all honesty, cryptocurrency is a mix of gambling, stocks, and research. How you trade really depends on what you're willing to put your time into. I don't buy into anything on a large scale unless I know what the coin/token's purpose is, have studied their charts to see how it's behaved in the past or if the price seems to fluctuate with or against BTC or ETH, and lastly, am completely willing to lose my entire initial investment. I'm only griping because I thought I would be cashing out soon. Guess not anytime soon. I was going to reach 4x my initial investment and then cash out half, then make 4x of that amount then cash out half, etc... I still doubled my investment so it's really not all that bad.
Yeah... it's been pretty painful for cryptocurrency lately. My portfolio is back at the same value it was over a month ago. Still at double my investment so I'm trying to stay positive. Plus the previous China crackdown proved how well the market can recover. Apparently SK is proposing a ~24% tax on crypto. Yeesh. I hope that's not on top of income tax...
Holy fuck. Bitcoin is at $8700. Just picked up some more.. lol. Something tells me that within a month it's going to skyrocket again.. /crossesfingers
The market has absolutely taken a bad hit. In case anyone is really confused about what has happened lately: A Japanese exchange was hacked, and something like $500M in NEM was stolen Bitfinex, the exchange company that also is in charge of Tether, was raided on the claim that Tether is backed by the dollar - this was found to be false, as millions of Tether exist without the USD to back it, thus being called "unaccounted for" India banned cryptocurrencies SK and China continue their dance with regulations, with SK recently putting a tax on crypto Plain and simple - lots of FUD It's a shitshow. I lost half my portfolio's value. Still up from my initial investment, but shit sucks.
BTW, India didn’t ban crypto. India wants to stop the use of crypto for illegal activity: http://www.independent.co.uk/life-s...th-korea-regulation-us-uk-rules-a8191566.html I never thought there would be so much drama in the financial world.. lol. I’m HODLing so I’m good. I’ll just keep buying those dips. Hopefully I’ll be retiring 5-10 years earlier than planned..
Jeez, I swear, for every piece of real news out there, there's fake news. And I don't mean "FAKE NEWS" like our Cheeto-in-Chief screams about, I mean knee-jerk reactions or exaggerations like in this case. Thanks for sharing this, it's a relief to know crypto isn't going to be banned completely in India. Still, this recent stuff is pretty crazy. I'm glad to see things moving up today though!
Last time Bitcoin surged to 20k, years back. I lost thousands attempting crypto day trading. Then coin base falsely filed a 1080 saying I made 80k and that was a mess. I wish I would have held some of the other coins I was trading that have out performed Bitcoin, instead of squandering it away day trading. I just wish I would have held a few hundred dollars in dodge coin.
Anyone want to buy a Cryptoart meme of a cat that looks like Hitler? Special price for SB'ers: $600,000. That's a bargain btw ...
I agree that some of the crypto art has been pretty stupid looking. The Beeple stuff was cool. We may think it’s stupid to pay these prices. I’m guessing people are buying some of this now, figuring it is the beginnings of NFT art and may become historic. I’m sure as more and more is made most will become valueless unless created by an already well known and collected artist. Why not non-fungible toys? Scan them in as a 3-d model and build a virtual shelf to collect them. I’ve thought of doing this, but I’m too stupid to grasp the engineering.
Just jumping into this thread today, and I watched about 2:47 of that NFT art video... and I’ve made my knee jerk, uninformed opinion about “crypto-art” Just seems like a money making scheme by the people who run/compile/and keep the block chains. Every time the art/NFT changes hands, the block chain people need to be notified, and I’m assuming they charge a nominal fee for the service of keeping the block chain updated? Seems like comic books; the money in comics isn’t in the value of the comics themselves these days. It’s in the grading companies that have made themselves the authorities on what constitutes a “collectible” example on a number scale of 1-10. As for non-fungible toys, two things come to mind: the first is hot wheels ID cars (each one has a rfid chip embedded in it with a unique profile used for a special gaming app. And if the car changes hands and is scanned into a new person’s app account, the car’s record within the game goes with it.) Now, all of this goes away the moment Mattel decides it doesn’t want to support the hot wheels ID platform anymore. Which could be anytime without notice. The second is a much more low tech concept which is a part of our fun little soft vinyl toy world- marbled toys. You can duplicate a paint job, but marbled toys are each unique and practically impossible to duplicate exactly. Pour 1, 10, 100 different marbled toys and document them each as individuals based on the marble patterns and bobs your uncle.
Yeah I don’t even think about authenticity, I think it would just be interesting to have a virtual collection and not be tied the burden that comes with physical toys and the space they take. Most of us are online all the time, much more than we look at our toys. If you had a virtual shelf you could access of authentic 3-d virtual toys, that would be cool, we all save jpgs anyway. 3-d models would be even better. I also think for younger people they will have far less physical possessions, just growing up in an environment where they had more digital assets instead of physical tapes, games, music, whatever, and with more education of the economic impact of plastic and waste. NFT or just selling cheap digital toys for a few bucks. I would really be interesting in partnering with someone who knew virtual reality well and trying to bring physical toy collecting into a digital space.
NFT is the future. I’ve seen quite a few NFT toys. Usually blister carded w/ a 3D turn around. It’s pretty insane. I don’t think anything will be as great as Physical toy collecting tho. It does give 3D and digital artists a great way to sell their work.
IMO, same with physical paintings / drawings. Its obvious, but anything else depends on electricity or batteries to exist. When the power goes out, your painting is still hanging there, it doesn't rely on pixels on a backlit screen for you to enjoy it. For an old man like me, digital shit is ephemeral, it doesn't truly exist in the real world.
