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PostPosted: Mon Nov 20, 2017 3:05 pm 
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Android wrote:
najibs wrote:
OMG, I just checked the price of Bitcoin. Haven't followed it in years. And to think that back in late 2013, I bought at $200ea and sold 2 weeks later at $1100 and I felt like a king. I would have had $20k today for my 2.5 bitcoins :shock:

Right when I sold, my buddy told me he formatted a hard drive when he had 17 bitcoins and each was worth less than $1. I'll let him know he's now lost out on $150k :?

Let me get this straight......your hard drive crashes or laptop gets stolen, you're out of the game?
:lol:

Not if you back up your wallet on a hardware wallet like any intelligent person would do, :roll:


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PostPosted: Mon Nov 20, 2017 3:20 pm 
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Android wrote:
najibs wrote:
OMG, I just checked the price of Bitcoin. Haven't followed it in years. And to think that back in late 2013, I bought at $200ea and sold 2 weeks later at $1100 and I felt like a king. I would have had $20k today for my 2.5 bitcoins :shock:

Right when I sold, my buddy told me he formatted a hard drive when he had 17 bitcoins and each was worth less than $1. I'll let him know he's now lost out on $150k :?

Let me get this straight......your hard drive crashes or laptop gets stolen, you're out of the game?
:lol:


Android – let me ask….what happens when you get mugged at a ATM machine? Or, some clever hacker is able to social engineer their way into your financial accounts just because the last place you ordered pizza online employed lax security policies. Did you know that your financial institution is being attacked right now. We are talking thousands of times daily. Some attacks are somewhat successful but most are averted. However, it only takes 1 clever attack to take down a large bank. Despite your investments maybe insured what do you think happens to your life while your bank and its insurers are trying to recover? And last question….ever have your identity stolen?


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PostPosted: Mon Nov 20, 2017 3:49 pm 
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Android wrote:
najibs wrote:
OMG, I just checked the price of Bitcoin. Haven't followed it in years. And to think that back in late 2013, I bought at $200ea and sold 2 weeks later at $1100 and I felt like a king. I would have had $20k today for my 2.5 bitcoins :shock:

Right when I sold, my buddy told me he formatted a hard drive when he had 17 bitcoins and each was worth less than $1. I'll let him know he's now lost out on $150k :?

Let me get this straight......your hard drive crashes or laptop gets stolen, you're out of the game?
:lol:

Maybe....

Quote:
An Ethereum hard fork may be in the future. That’s after a user of digital currency wallet Parity, which many use to store their Ethereum, effectively froze millions of dollars worth of the cryptocurrency on Tuesday—apparently by accident. The user accidentally triggered a flaw with an update to Parity’s multi-signature wallets, according to the open-sourced wallet maker, which cut off all access to the funds they contained.


https://www.google.ca/amp/amp.timeinc.n ... -hard-fork

Not sure what a hard fork is but I don't like the sound of it :lol:

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PostPosted: Mon Nov 20, 2017 6:52 pm 
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ripblade wrote:
Android wrote:
najibs wrote:
OMG, I just checked the price of Bitcoin. Haven't followed it in years. And to think that back in late 2013, I bought at $200ea and sold 2 weeks later at $1100 and I felt like a king. I would have had $20k today for my 2.5 bitcoins :shock:

Right when I sold, my buddy told me he formatted a hard drive when he had 17 bitcoins and each was worth less than $1. I'll let him know he's now lost out on $150k :?

Let me get this straight......your hard drive crashes or laptop gets stolen, you're out of the game?
:lol:

Maybe....

Quote:
An Ethereum hard fork may be in the future. That’s after a user of digital currency wallet Parity, which many use to store their Ethereum, effectively froze millions of dollars worth of the cryptocurrency on Tuesday—apparently by accident. The user accidentally triggered a flaw with an update to Parity’s multi-signature wallets, according to the open-sourced wallet maker, which cut off all access to the funds they contained.


https://www.google.ca/amp/amp.timeinc.n ... -hard-fork

Not sure what a hard fork is but I don't like the sound of it :lol:


Cool a Hard Fork should double my Ether, just like what happened to Bitcoin that last month..
After the Hard Fork Bitcoin Gold was created and users who had Bitcoin were given the same amount in Bitcoin Gold.. :D


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PostPosted: Mon Nov 20, 2017 7:32 pm 
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sthomas1049 wrote:
Android wrote:
najibs wrote:
OMG, I just checked the price of Bitcoin. Haven't followed it in years. And to think that back in late 2013, I bought at $200ea and sold 2 weeks later at $1100 and I felt like a king. I would have had $20k today for my 2.5 bitcoins :shock:

Right when I sold, my buddy told me he formatted a hard drive when he had 17 bitcoins and each was worth less than $1. I'll let him know he's now lost out on $150k :?

Let me get this straight......your hard drive crashes or laptop gets stolen, you're out of the game?
:lol:


Android – let me ask….what happens when you get mugged at a ATM machine? Or, some clever hacker is able to social engineer their way into your financial accounts just because the last place you ordered pizza online employed lax security policies. Did you know that your financial institution is being attacked right now. We are talking thousands of times daily. Some attacks are somewhat successful but most are averted. However, it only takes 1 clever attack to take down a large bank. Despite your investments maybe insured what do you think happens to your life while your bank and its insurers are trying to recover? And last question….ever have your identity stolen?

Interesting response to a yes or no question.

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PostPosted: Tue Nov 21, 2017 5:26 am 
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Android wrote:
sthomas1049 wrote:
Android wrote:
Let me get this straight......your hard drive crashes or laptop gets stolen, you're out of the game?
:lol:


Android – let me ask….what happens when you get mugged at a ATM machine? Or, some clever hacker is able to social engineer their way into your financial accounts just because the last place you ordered pizza online employed lax security policies. Did you know that your financial institution is being attacked right now. We are talking thousands of times daily. Some attacks are somewhat successful but most are averted. However, it only takes 1 clever attack to take down a large bank. Despite your investments maybe insured what do you think happens to your life while your bank and its insurers are trying to recover? And last question….ever have your identity stolen?

Interesting response to a yes or no question.


Ya I guess it is. Non the less, my post was to illustrate that people are quick to point out what they feel are the short comings with investing into cryptocurrency while neglecting to acknowledge the risks with their own financials. Loosing a Bitcoion investment due to a hard drive failure is chump change compared to having one’s identity stolen. Many of us go to extreme measures to back up our cherished data such as family photos or our digital music. Why someone wouldn’t use the same precautions with their cryptocurrency investment is beyond me. They are just begging for something to happen! I bet najibs friend won’t make the same mistake twice!


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PostPosted: Tue Nov 21, 2017 7:20 am 
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sthomas1049 wrote:

Ya I guess it is. Non the less, my post was to illustrate that people are quick to point out what they feel are the short comings with investing into cryptocurrency while neglecting to acknowledge the risks with their own financials. Loosing a Bitcoion investment due to a hard drive failure is chump change compared to having one’s identity stolen. Many of us go to extreme measures to back up our cherished data such as family photos or our digital music. Why someone wouldn’t use the same precautions with their cryptocurrency investment is beyond me. They are just begging for something to happen! I bet najibs friend won’t make the same mistake twice!



If people knew how their US and Can dollars, yen, euro, etc.. if they knew how those funds were actually created and who benefits..they would find out that digital crypto currencies are actually more honest, more real and more humane than all those fiat currencies. the source points of fiat currencies and their management, their creation, their origins in flow and their meaning..is so obscured that it is invisible and in the clouds, to just about every human being out there.

Like some sort of fluffy nebulous religion, hidden behind a bureaucracy of so many obscuring layers, that people will never understand it. This is purposely done. It's in the news, it's in the papers it moves the world around it dominates human life.... but it's modern origins are far less honest and far less humane than crypto currencies.

What you believe in, it may drive you, it may stabilize and anchor you...but...

A well implemented cryto currency is actually, in a few critical ways, more honest and more real than any of the currencies that the western world anchors it's energetic flow on and in. The more well known currencies we use, are actually forms of indenture of human flow to a small elite of people. It really is a fiat form of slavery hidden behind an obscuring and controlling bureaucracy. Look very very carefully. Just because it is long in the tooth, many many millions involved in it's creation and flow, and all of the people in the developed world move those bits around, this has nothing to do with it's fundamental meaning or honesty.

Everyone uses 'money' but precious few look at what it actually is and those who do...are dismissed as crazy... in a world that has developed a very deeply layered Stockholm syndrome around this 'money'.

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PostPosted: Thu Dec 07, 2017 7:47 am 
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Bitcoin has gone up $15,000 since this thread was started one month ago.

It hit $22,000 CDN this morning.





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PostPosted: Thu Dec 07, 2017 9:13 am 
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Forbes_2 wrote:
Bitcoin has gone up $15,000 since this thread was started one month ago.

It hit $22,000 CDN this morning.





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The way the market is constructed right now, bitcoin is actually forced to increase. It's run as a unavoidable hegemony, like the stability and increases of the US dollar in the days following WWII. If you wish to enter the market, your launch, pass through and safety (hold/transfer/shift/comparisons/ground point/etc) point.....is bitcoin. Post WWII, as time went by, into the 50's etc.. the major pass through for all transactions was the US dollar and all the pigs at the trough could not kill it no matter how much they profited, they could rape and pillage the US dollar...and it grew and grew, no matter what. Bitcoin is in that 'window' in it's own way.

This causes a false open sky to emerge... one that never stops increasing. Just part of the story.

IIRC, bitcoin is set to enter the US futures market on dec 18th? If the trading methodologies don't change or alter from what they are right now....well...it will be a wild ride no matter what goes on.

The cryptocoin market cap was at $350B yesterday afternoon, $375B by early yesterday evening and at $423B as of this typing, 16hr later.

It is unsustainable, but it can't collapse, it is forced ---- via how the market is run. A long story, which I'm only now beginning to see the shape of, via taking my first serious look into this. Looking for the micro and meta data and how it fits together. It's an IMO thing but the shape of it, how it flows, is right there to see....

I was telling people as early as 2 weeks ago that the market cap would hit $1TUS in about 6 months..which I thought was a crazy prediction, but might have to revise that to 2 months, as the rate of increase is saying it will do it in even less time than 2 months.

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PostPosted: Thu Dec 07, 2017 3:54 pm 
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Was reading today that a single Bitcoin transaction uses the energy equivalent of 9 American households over a 24hr period. It's projected that by February 2020, the Bitcoin network will use as much energy as what the entire globe uses currently.

Scary stuff.

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PostPosted: Thu Dec 07, 2017 4:22 pm 
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ripblade wrote:
Was reading today that a single Bitcoin transaction uses the energy equivalent of 9 American households over a 24hr period. It's projected that by February 2020, the Bitcoin network will use as much energy as what the entire globe uses currently.

Scary stuff.


Is that a transaction or mining? I would think a transaction is pretty straight forward. Mining on the other hand, takes weeks of heavy computer power. This is where the energy consumption is.

But…how much energy does it take to mine and process precious metals of the same value? Just as a comparison.


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PostPosted: Thu Dec 07, 2017 4:30 pm 
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the Crytptocoin market is up 25 billion as of my earlier posting, 7 hrs earlier. $453BUS market cap.

This rate is unsustainable but there is no mechanism for controls or collapse. Collapse is literally controlled, nay forced out... and unavailable.

Until investment stabilizes, that is... and investment is only beginning. Seriously.

Turning to the futures market will only make the crypto market explode upward. Even IBM has bought into it.

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Last edited by Teo Audio on Thu Dec 07, 2017 4:32 pm, edited 2 times in total.

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PostPosted: Thu Dec 07, 2017 4:31 pm 
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sthomas1049 wrote:
ripblade wrote:
Was reading today that a single Bitcoin transaction uses the energy equivalent of 9 American households over a 24hr period. It's projected that by February 2020, the Bitcoin network will use as much energy as what the entire globe uses currently.

Scary stuff.


Is that a transaction or mining? I would think a transaction is pretty straight forward. Mining on the other hand, takes weeks of heavy computer power. This is where the energy consumption is.

But…how much energy does it take to mine and process precious metals of the same value? Just as a comparison.

Don't know, but in Venezuela where electricity is subsidized, rogue mining operations have caused blackouts. Apparently, electricity accounts for 60% of the cost of mining Bitcoins.

https://amp.businessinsider.com/bitcoin ... et-2017-12

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PostPosted: Thu Dec 07, 2017 5:48 pm 
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The regular news is totally out to lunch, and biased on crypto. Take any news with a grain of salt.

I got into Ripple and Stellar today. Stellar backed by IBM, BMO RBC and Amex backing Ripple.

If any of you cats are into Crypto, hit me up! Love chatting Crypto without the "get off my lawn" crowd

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PostPosted: Thu Dec 07, 2017 6:14 pm 
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my best 'quick' guess has bittrex (one of many) raking in about $15-25m us per day. To be fair, these are the numbers only as of very very recently.

They set the rules so they set the pace and they (and others like them) are what prevents bitcoin from going anything but up. Every day it goes up they make more.

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