Crypto-currencies

[uthornsfan]

I have to say, I think that most of this is a ponzi scheme. The fact that fees keep going up means the the currency is already losing its potency as a fiat replacement. The only benefit you get now is anonymity which is not going to be enough. People don't want to pay the fees.

Plus it is going to get regulated out of existence. I work in technology and am not opposed to the tech. But it really is just a crowdfunded tech sector....

[mojo84]

I'm intrigued. I have to admit it is a bit of a challenge to wrap my mind around it but it has my attention. All great innovation is met with significant resistance and lack of understanding. Not everyone calls I to the early adopter category.

I'll continue to research as time allows.

[bblhd672]

I suspect that Andy is just disappointed in the direction the conversation took, that it is being dominated by discussion of the legitimacy of crypto trading, rather than a discussion about techniques and other ideas for those who ARE interested. I’m inclined to agree.

Yep. It's like trying to have a conversation about AK47s and all I'm hearing is how crap it is and can't possibly be a good rifle.

Well, I should clarify that I got TAM introduced to crypto a few weeks ago and it's been gratifying see someone "get it" (the gains he has mentioned are all his own work, btw - I simply showed him the mechanics) - and he's seen my own (astonishing, if I may say so myself) gains.

I would like to think that the content of our respective characters are well-known here and would count for something, but I guess not, so, to paraphrase someone famous: "Y'all do what you like; I'm going to Texas".

I'm done.

I admit to being skeptical about the crypto-currency investment but it’s because I know nothing about how it works and how to go about making money from it. I actually haven’t followed this post since my smart aleck remark back in May after the post started. Today I read the entire thread from the beginning and am intrigued by the possibilities.
Guess I’ll have to find out more elsewhere since the people who know about it have been given so much grief for their interest and activity that they don’t wish to discuss further here.
I wish we could get back to showing more respect towards one another’s diverse viewpoints and ideals.

[bbhack]

I know the thread is dying, but I wanted to post my mining rig. I need to build a frame, really.

This is making Ethereum. This box can handle at least one more card.

[ArmedAndPolite]

I hope everyone either trading or holding has a hedge of some sort. A monkey will look good trading in a bull market. When the real dips happen, I hope you have extra fiat ready.

I have plenty in buy orders on Gemini in case of a serious correction and currently use Binance, Cryptopia, Etherdelta and Kucoin to trade on.

Goodluck everyone with their 2018 crypto gains.

[Liberty]

Before this thread completely goes away, I have a coinbase account would there be an advantage to setting up my own wallet on my own computer. Can I keep a copy of my wallet on my wife's machine?

[The Annoyed Man]

Before this thread completely goes away, I have a coinbase account would there be an advantage to setting up my own wallet on my own computer. Can I keep a copy of my wallet on my wife's machine?

I would advise to set up a paper wallet on MyEtherWallet.com, and then buy a Nano S hardware wallet to back up all of your investments. The former works for Etherium only, and the latter can backup all kinds of crypto. The hardware wallet air-gaps your holdings from the internet where they cannot be accessed at all unless YOU do it. So far, I have set up a paper wallet, and I have ordered and received the Nano S, but I have not set the Nano S up yet. I plan to get that done today. AndyC has thoroughly tested his, including actually wiping the device and then recovering his accounts, and it worked flawlessly.

http://www.myetherwallet.com (you will have to click through some cyber-security warning/disclaimer panels before you can access the content)

https://www.ledgerwallet.com/products/ledger-nano-s (there are videos on the page which explain how it works)

[BBYC]

Trading cryptocurrencies is commodity trading, it's no different than pork bellies or precious metals.

Now I'm thoroughly confused. Are they currencies or commodities?

[EastTexasRancher]

...They sound like characters on Star Trek.....

[The Annoyed Man]

Trading cryptocurrencies is commodity trading, it's no different than pork bellies or precious metals.

Now I'm thoroughly confused. Are they currencies or commodities?

If you think of currencies as commodities, it might help.

[mojo84]

Apparently, Google noticed I was doing a little research on crypto currencies and they provided this article in my feed. Thought some of you may find out of interest. I have no clue about its credibility. I'm still intrigued and will continue to investigate as time allows.


Ethereum Alumni and Cardano Creator Predicts a Cryptocurrency Market Crash

https://search.app.goo.gl/fmun

Shared from my Google feed

[Liberty]

Many will crash because they're just hype and hot-air - good.

Eventually there will be winners and losers.
The auto industry got weeded out to the major 3, while imports have filled in some of the voids.
The early PC industry, most are gone. Kaypro, DEC, Atari, Commodore.

Those that survive become the big winners.