# cryptocurrency



## hardwaterfan (Apr 6, 2004)

All the younger guys at work are dumping their money into this. Guys in their mid 20s who have only ever seen the stock markets do well. They're too young to have experienced the dot com burst in 01 and the 08 crash. One young man put $5,000 into cryptocurrency which he said is half of his net worth. One other young man said he put his "emergency money" into the stock market. Im trying to give these guys some perspective because Ive seen the ups and down, but all these guys ever experienced in their adult financial lives is "good times". I try to give these guys some perspective but they are insanely optimistic. Crazy optomistic when it comes to markets and this crazy cryptocurrency craze.... crazy!

Cryptocurrency isnt backed by anything and yet a bitcoin is "worth" $17,000!

What do you guys think? Ive been waiting for 2 years for the stock markets to crash yet its still acting like a rocket to the moon....now this cryptocurrency fever...


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## STRONGPERSUADER (Nov 5, 2006)

Well IMO, they are going to and have been wanting to do away with hard currency for years now. It cost too much to print, handle, etc. not to mention crimes. I wouldn't be surprised if it doesn't go to some sort of "virtual" currency in the near future. I don't agree with it either but look at us, We buy about everything fishing, hunting, and outdoors online now along with other everyday items. People have made billions with anything dub dub dub. It's coming.


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## bountyhunter (Apr 28, 2004)

might not be the bit coin, but its going that way, most people use a plastic card now and the younger people are moving faster than ever on tech.


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## G.lock (Apr 1, 2014)

My view:
Just like the stock market crypto currency will have ups and downs. If they're buying now they're buying in a peak, not the best time. They are looking for a correction soon.
I also think like a pyramid scheme the early buyers will make out, not the later.


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## Snakecharmer (Apr 9, 2008)

Bitcoins are a scam... FOMO....Fear Of Missing Out hype.....Who controls the quantity of bitcoins?


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## Saugeye Tom (Oct 6, 2010)

Snakecharmer said:


> Bitcoins are a scam... FOMO....Fear Of Missing Out hype.....Who controls the quantity of bitcoins?


Well you and I can


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## Snakecharmer (Apr 9, 2008)

Saugeye Tom said:


> Well you and I can


I wish... I got a couple to sell to Sherm and Lazy...


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## hailtothethief (Jan 18, 2017)

The computer is changing everything. Eventually money will become aware. I think bitcoin is a means to that end but we’re not there yet. 

Ive seen refridgerators that can tell you when your milk is expired. 

I expect one day you’ll go to buy something and your money deny the charge and find you a better deal elsewhere.


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## James F (Jul 2, 2005)

That's too technical for my taste.I'll hedge my funds on the lottery, invest heavily and it will pay out, well maybe/maybe not! One guy at work did that,and lost EVERYTHING.surprise!! And I thought he had some common sense. I knew him for 30 years.I was taken aback by this.


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## ohiojmj (Apr 16, 2004)

When irrational exuberance prevails, I consider it time to cut back on stock holdings. If beer bottle caps ever take off like bitcoins, I'll be gold.


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## Saugeye Tom (Oct 6, 2010)

ohiojmj said:


> When irrational exuberance prevails, I consider it time to cut back on stock holdings. If beer bottle caps ever take off like bitcoins, I'll be gold.


Lol I'll be rich too


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## partlyable (Mar 2, 2005)

G.lock said:


> My view:
> Just like the stock market crypto currency will have ups and downs. If they're buying now they're buying in a peak, not the best time. They are looking for a correction soon.
> I also think like a pyramid scheme the early buyers will make out, not the later.



Bitcoin is so high right now I cannot believe it could go higher. There has to be a correction...


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## gillnet (Oct 19, 2017)

its definitely just a matter of time before paper money is extinct..just need to figure out what or how it will be replaced before it happens to cash in
just like playing the stock market


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## FOSR (Apr 16, 2008)

I scanned some old paper currency, here's a 1928 $5 bill.

"REDEEMABLE IN GOLD ON DEMAND AT THE UNITED STATES TREASURY OR IN GOLD OR LAWFUL MONEY AT ANY FEDERAL RESERVE BANK"

... well, maybe not any more ...


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## waterfox (Dec 27, 2014)

got some too


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## Snakecharmer (Apr 9, 2008)

FOSR said:


> I scanned some old paper currency, here's a 1928 $5 bill.
> 
> "REDEEMABLE IN GOLD ON DEMAND AT THE UNITED STATES TREASURY OR IN GOLD OR LAWFUL MONEY AT ANY FEDERAL RESERVE BANK"
> 
> ...


$5 of gold is probably just a couple of grains of gold sand


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## c. j. stone (Sep 24, 2006)

Those guys on tv show "Gold Rush" have the right idea on how to get rich! Ever watch their week ending "weigh-in"??


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## Skippy (Dec 2, 2009)

If they get rid of paper money,, what are the drug dealers going to do ???


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## RiparianRanger (Nov 18, 2015)

[`


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## privateer (Apr 26, 2012)

cyber currencies, like bitcoin, are ripe for money laundering by criminals and outlaw countries. That may well be one factor driving the "value" of that currency.


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## gillnet (Oct 19, 2017)

that's the main reason it was developed,which is why the feds required them to turn over paperwork of who owned it recently


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## STRONGPERSUADER (Nov 5, 2006)

Skippy said:


> If they get rid of paper money,, what are the drug dealers going to do ???


Exactly...


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## EyeCatchEm (Jan 6, 2014)

I put $10 into cryptocurrency. It's now worth a healthy $400 and doubling every week. I've been in about two months. It's more than just bitcoin, there are a ton of different "coins" that aim to solve different problems that paper currency causes. After seeing my results, a friend gave me $2000 of his play money, I doubled it in 2 weeks. That's enough for me to keep playing.


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## Snakecharmer (Apr 9, 2008)

EyeCatchEm said:


> I put $10 into cryptocurrency. It's now worth a healthy $400 and doubling every week. I've been in about two months. It's more than just bitcoin, there are a ton of different "coins" that aim to solve different problems that paper currency causes. After seeing my results, a friend gave me $2000 of his play money, I doubled it in 2 weeks. That's enough for me to keep playing.


So you double your money every week but your friend's money only doubles every two weeks? Hmmm...


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## hardwaterfan (Apr 6, 2004)

I'm happy for you and your friend. I'm just concerned long term...just don't play with money you can't afford to lose. I've never seen anything like this....cryptocurrency isn't "backed" by anything, unlike anything else you could invest in....

Paper money died for me a long time ago...I think I have a few dollars in change here at the house...just plastic for me....


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## hardwaterfan (Apr 6, 2004)

Bitcoin was about 16,000 a month ago, and it's about 16,000 today. You must not be talking about bitcoin....I know there's many others


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## FOSR (Apr 16, 2008)

In the news they said Venezuela and Russia are issuing their own cryptocurrencies.

Venezuela is seriously hurting since the oil prices fell. They depended completely on oil income, so they didn't invest or maintain domestic economic sources. Why manufacture stuff or grow food when you can just buy it? This is why. Their prices (currently) are going up 45% per month.



> The Venezuelan currency, the bolívar, is in short supply, and finding a fistful of them has become one of the nightmares of daily life. People are compelled to endure long lines at cash machines to withdraw maximum amounts equivalent to about 10 cents — just enough to pay for several round trips on a public bus.


https://www.nytimes.com/2017/12/02/...nicholas-maduro-inflation-hyperinflation.html

No wonder they want a cryptocurrency that isn't tied to this.

Their government is so ... uh, how shall I put this ... they have their head in a dark warm moist snuggly place, and they are refusing international aid that's being offered to them. People are leaving in droves and the rest are depending on their relatives abroad to send them stuff they can't afford to buy, like toilet paper

Of course, if you ask them, it's all the USA's fault.


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## EyeCatchEm (Jan 6, 2014)

Snakecharmer said:


> So you double your money every week but your friend's money only doubles every two weeks? Hmmm...


That's right, different portfolios, different levels of risk... I'm willing to risk my money more than I was his.


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## EyeCatchEm (Jan 6, 2014)

I'm making money so I don't care. I'm not telling anyone to get in, I'm just sharing my positive experience.


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## Saugeye Tom (Oct 6, 2010)

Snakecharmer said:


> So you double your money every week but your friend's money only doubles every two weeks? Hmmm...


Let's see what he gets paid in if he cashes in......find me a mall or fishing shop that takes bitcoin or any other cloud money.....


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## hardwaterfan (Apr 6, 2004)

Dude I'm totally rooting for you...believe me. ...my friends at work, I love them like little brothers...I'm just worried. ..at 46 am I the old fart?


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## hardwaterfan (Apr 6, 2004)

Making money "on paper" isn't the same thing as making money.


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## hardwaterfan (Apr 6, 2004)

My mutual funds and 401k have made super gains, year after year for the last few years....it doesn't mean S.....it's all on paper...if I sell, then it's "real"...I haven't sold anything...so it's not a real gain yet...I haven't "made" a penny.


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## hardwaterfan (Apr 6, 2004)

Brother I am not criticizing you or anyone else...I'm saying these things based on what I've seen and what I've experienced...I hope you all do get rich and I tell my bros at work to take me out, lets mack on the girls, and buy me pizza if you hit it


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## buckeyebowman (Feb 24, 2012)

FOSR said:


> In the news they said Venezuela and Russia are issuing their own cryptocurrencies.
> 
> Venezuela is seriously hurting since the oil prices fell. They depended completely on oil income, so they didn't invest or maintain domestic economic sources. Why manufacture stuff or grow food when you can just buy it? This is why. Their prices (currently) are going up 45% per month.
> 
> ...


The same could be said for Russia. Other than tourism and nesting dolls about all they have to sell doe hard currency is oil and natural gas. 



Saugeye Tom said:


> Let's see what he gets paid in if he cashes in......find me a mall or fishing shop that takes bitcoin or any other cloud money.....


Reminds me of the gold and silver buying frenzies. You can't spend either of those commodities, you have to cash in. What you're trying to do is make MONEY! 

Hard currency may eventually go the way of the Dodo bird, but I don't think it will be all that soon. Too much of the system is set up to accept it. 

If hard currency goes away, the drug dealers will simply adapt as they always have. However, I think that's part of the equation. Any electronic transaction is going to leave finger prints. 

When my monitor crapped out I went to a local used computer equipment store and found a nice Dell flat screen for $40! I asked the clerk if they took debit cards and she said yes, but if we did it that way she'd have to charge me sales tax! If I paid cash she wouldn't! I asked her to hold the monitor behind the counter until I returned from the ATM.


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## FOSR (Apr 16, 2008)

In the future, we will all use rai stones.



> In one instance, a large rai being transported by canoe and outrigger was accidentally dropped and sank to the sea floor. Although it was never seen again, everyone agreed that the rai must still be there, so it continued to be transacted as genuine currency. What is important is that ownership of the rai is clear to everyone, not that the rai is physically transferred or even physically accessible to either party in the transfer.


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## EyeCatchEm (Jan 6, 2014)

Saugeye Tom said:


> Let's see what he gets paid in if he cashes in......find me a mall or fishing shop that takes bitcoin or any other cloud money.....


There's crypto cards that work just like a debit card. You link it to your "wallet" and can purchase anywhere that accepts cards. There are also crypto atms that you can cash out at. I have pulled more than my initial investment out and spent plenty. Paying the taxes on gains sucks but I'm making way more than if it was sitting in bonds or a bank account so I can't complain. It paid my boat and car payment this month... not everyone is going to win big, just like stocks, someone has to lose.


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## Benboat (Jan 20, 2008)

EyeCatchEm said:


> I put $10 into cryptocurrency. It's now worth a healthy $400 and doubling every week. I've been in about two months. It's more than just bitcoin, there are a ton of different "coins" that aim to solve different problems that paper currency causes. After seeing my results, a friend gave me $2000 of his play money, I doubled it in 2 weeks. That's enough for me to keep playing.


I have been dabbling with a little bit and doing pretty well. I use Coinbase now but don't know where to buy the other Cryptos at. Any recommendations on exchanges?


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## EyeCatchEm (Jan 6, 2014)

Benboat said:


> I have been dabbling with a little bit and doing pretty well. I use Coinbase now but don't know where to buy the other Cryptos at. Any recommendations on exchanges?


Kucoin


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## EyeCatchEm (Jan 6, 2014)

Buy ETH or LTC on coinbase and send to kucoin, do not send or buy bitcoin. The fees are outrageous


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## bdawg (Apr 14, 2009)

I'd love to double or triple my money, but I don't understand crypto currencies enough for me to invest in them. Especially when their prices are as high as they've ever been right now. Of course, I hesitated to invest in Netflix and Facebook a few years ago too and lost out. 

Got burned when I bought $5000 worth of stock in Electronic Game Cards Inc about 5 years ago. They went bankrupt. Another stock I bought in a concrete company during the recession also went bankrupt, but it reorganized and the stock bounced back to where it was worth twice as much as when I bought it! Took 5 years though! Since then, I've sold that stock and invested heavily in the Oil & Gas Sector. It was terrible last year, but should bounce back this year since oil prices are rising and more oil & gas pipelines are being finished. I think we'll be exporting excess natural gas to other countries. Energy stocks have always had value and I understand them better than crypto currencies. Most of my stocks are giving out dividends too. 

I think the stock market has another year or 2 of growth before the next crash. The flames are being fanned by the tax cut bill and the European and Asian economies that have recovered. I see another bubble growing right now, which I'm watching closely for something that will pop it!!!


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## bdawg (Apr 14, 2009)

I invested my speculative "play" money 2 years ago when we bought another Irish Setter puppy. We bought a female as a companion to the male we already had. A bit of a risk. She almost got hit by a car a couple of times, but 3 weeks ago, she had 8 healthy puppies that we will be selling. We have received deposits on 2 of them already and maybes on 2 more. Also, with the economy still rocking and rolling, we have been able to sell them at significantly more that what we bought the parents for. Both parents are pure breed, AKC registered, have a great temperment, and healthy fortunately. 

It was a risky investment, but I asked myself, what's the worst that could happen? The answer was that we'd have 2 pet dogs instead of one, maybe more if the puppies didn't sell. What's the best that could happen? She could have 3 or 4 litters and we could sell all the puppies! Right now, I'm just enjoying playing with puppies! Soon, I will enjoy doing something with the money from the sale of them! Unconventional, but really, is it any more risky than buying Bitcoins???


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## fishmeister (Jul 29, 2004)

A classic bubble. Reminds of the Dutch tulip bulb frenzy of the 1600s. Look up “dutch bulb bubble” on a search engine.


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## EyeCatchEm (Jan 6, 2014)

fishmeister said:


> A classic bubble. Reminds of the Dutch tulip bulb frenzy of the 1600s. Look up “dutch bulb bubble” on a search engine.


I'll pick you up in my lambo for a ride one day.


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## Dovans (Nov 15, 2011)

EyeCatchEm said:


> I put $10 into cryptocurrency. It's now worth a healthy $400 and doubling every week. I've been in about two months. It's more than just bitcoin, there are a ton of different "coins" that aim to solve different problems that paper currency causes. After seeing my results, a friend gave me $2000 of his play money, I doubled it in 2 weeks. That's enough for me to keep playing.


Bought a marijuana stock 2 weeks ago and it has doubled. I have no knowledge of bitcoin. I've tried to figure it out, and I get confused about it. I am told it is easy to buy, but not as easy to sell. Other ways of losing my money that I understand.. so for now bitcoin is just a curiosity.


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## EyeCatchEm (Jan 6, 2014)

Dovans said:


> Bought a marijuana stock 2 weeks ago and it has doubled. I have no knowledge of bitcoin. I've tried to figure it out, and I get confused about it. I am told it is easy to buy, but not as easy to sell. Other ways of losing my money that I understand.. so for now bitcoin is just a curiosity.


Easier to sell than it is to buy... setting up a wallet is the tricky part and understanding which platform to trade on is half the battle! Bitcoin is the king of crypto and too stable right now for me to keep making crazy gains. As of this morning I near doubled my money in a 4 hour trade


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## Shad Rap (Nov 10, 2010)

EyeCatchEm said:


> Easier to sell than it is to buy... setting up a wallet is the tricky part and understanding which platform to trade on is half the battle! Bitcoin is the king of crypto and too stable right now for me to keep making crazy gains. As of this morning I near doubled my money in a 4 hour trade


How do you cash out bitcoin? do they just deposit it into your bank acct?


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## Dovans (Nov 15, 2011)

My nephew who has decided to live with us and is somewhat of a computer programmer tried to explain it to me. Bitcoin is controlled by logarithms or something like that word. There use to be a way to "mine" for bitcoin but it has become much too difficult because the logarithms are so complicated and long. He also tried to explain that logarithms is also what controls the value of the bitcoin.Then the discussion of what backs it as to backs the paper money. He said nothing really guarantees paper money anymore as well. Silver and Gold is pretty though... He then said the best way to profit from bitcoin is to make purchase's with bitcoin as opposed to cashing out. I know JMBullion, where I buy silver (sometimes gold,very tiny amounts) accepts bitcoin.

More power to you eyecatchem. Probably when I figure it out, there will be another currency.


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## Saugeye Tom (Oct 6, 2010)

Dovans said:


> Bought a marijuana stock 2 weeks ago and it has doubled. I have no knowledge of bitcoin. I've tried to figure it out, and I get confused about it. I am told it is easy to buy, but not as easy to sell. Other ways of losing my money that I understand.. so for now bitcoin is just a curiosity.


Lazy 8 has the market cornered in THAT stock


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## FOSR (Apr 16, 2008)

OK now this is getting weird. We should have bought shares in Kodak last week:

https://www.bloomberg.com/news/arti...es-after-announcing-coin-to-join-crypto-craze


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## Snakecharmer (Apr 9, 2008)

FOSR said:


> OK now this is getting weird. We should have bought shares in Kodak last week:
> 
> https://www.bloomberg.com/news/arti...es-after-announcing-coin-to-join-crypto-craze


I can see Simon and Garfunkel getting together for a new hit
"Kodakcoin"


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## Snakecharmer (Apr 9, 2008)

For the youngsters:

_When I think back
On all the crap I learned in high school
It's a wonder
I can think at all
And though my lack of education
Hasn't hurt me none
I can read the writing on the wall

Kodachrome
They give us those nice bright colors
They give us the greens of summers
Makes you think all the world's a sunny day
I got a Nikon camera
I love to take a photograph
So mama don't take my Kodachrome away

If you took all the girls I knew
When I was single
And brought them all together for one night
I know they'd never match
My sweet imagination
Everything looks worse in black and white

Kodachrome
They give us those nice bright colors
They give us the greens of summers
Makes you think all the world's a sunny day
I got a Nikon camera
I love to take a photograph
So mama don't take my Kodachrome away

Mama don't take my Kodachrome away
Mama don't take my Kodachrome away
Mama don't take my Kodachrome away

Mama don't take my Kodachrome
Mama don't take my Kodachrome
Mama don't take my Kodachrome away
Mama don't take my Kodachrome
Leave your boy so far from home
Mama don't take my Kodachrome away
Mama don't take my Kodachrome
Mama don't take my Kodachrome away_


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## Snakecharmer (Apr 9, 2008)

EyeCatchEm said:


> Easier to sell than it is to buy... setting up a wallet is the tricky part and understanding which platform to trade on is half the battle! Bitcoin is the king of crypto and too stable right now for me to keep making crazy gains. As of this morning I near doubled my money in a 4 hour trade


How are you doing now?


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## Snakecharmer (Apr 9, 2008)

hardwaterfan said:


> Cryptocurrency isnt backed by anything and yet a bitcoin is "worth" $17,000!
> 
> What do you guys think? Ive been waiting for 2 years for the stock markets to crash yet its still acting like a rocket to the moon....now this cryptocurrency fever...


$6876.00 Today YIKES....................Only took a month to lose 60% of value.


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## Shad Rap (Nov 10, 2010)

Snakecharmer said:


> $6876.00 Today YIKES....................Only took a month to lose 60% of value.


Buy some now.


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## Snakecharmer (Apr 9, 2008)

Shad Rap said:


> Buy some now.


Don't thinks it has bottomed.........


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## EyeCatchEm (Jan 6, 2014)

Snakecharmer said:


> How are you doing now?


Doing great.... very volatile month with tons of up/down action that has let me gain a lot. Sell high and buy low!


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## bdawg (Apr 14, 2009)

You guys have your fun with bitcoins. Thanks to this thread, I've been researching marijuana stocks. I understand the supply and demand for this product better! Haven't bought any yet, because I think they are overpriced at the moment, but I am ready to jump in when the time is right. 

Oh, and I just secured deposits on the last of the puppies I had for sale. Vet check went great, and I'll be cashing them out in less than 2 weeks!!!


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## EyeCatchEm (Jan 6, 2014)

bdawg said:


> You guys have your fun with bitcoins. Thanks to this thread, I've been researching marijuana stocks. I understand the supply and demand for this product better! Haven't bought any yet, because I think they are overpriced at the moment, but I am ready to jump in when the time is right.
> 
> Oh, and I just secured deposits on the last of the puppies I had for sale. Vet check went great, and I'll be cashing them out in less than 2 weeks!!!


Awesome! My coins should 5 times in a few weeks! And my dog will be in heat soon


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## Snakecharmer (Apr 9, 2008)

fishmeister said:


> A classic bubble. Reminds of the Dutch tulip bulb frenzy of the 1600s. Look up “dutch bulb bubble” on a search engine.


Saw where its down to $6,300 from about $20,000 high. POP goes the bubble.


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## fishmeister (Jul 29, 2004)

EyeCatchEm said:


> I'll pick you up in my lambo for a ride one day.





Snakecharmer said:


> Saw where its down to $6,300 from about $20,000 high. POP goes the bubble.


.... and I was looking forward to that ride in the Lambo.


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## hardwaterfan (Apr 6, 2004)

*popcorn time*


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## hardwaterfan (Apr 6, 2004)

I'm sure he made a killing and is WAY up....


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## Lazy 8 (May 21, 2010)

Jordanmalik said:


> I think the cryptocurrency stock market will have ups and downs. If they are buying now, they are buying at the peak.


Hey Jordan,
You've got that new member smell. Your first post is to a thread that's over 4 years old?


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