Bitcoin ^^^

May break $50k in the next 24 hours.

Imagine if you got in 6 years ago

Thats very easy to imagine for me, I wanted Tesla in May 2012, my guy told me to put 10k in a etrade account or something if I wanted to play with it. I wanted fb when it went public at the same time so thats how i know the specific date I went in and saw him about it.

Almost bought one today. That stuff can and will go down as fast as it has gone up.

Time for a new guy?

His rational was on point.

If you want a car stock tesla wasnt it, they only sold less than 100k cars a year. and they dont pay a dividend.

He said fb was a pass also, said they didnt have any product.

He was a older guy, he did a good job for me, Im not going to complain... but 1665 shares of Tesla right now would be nice...

Dogecoin may be the next one to take off.

Filecoin.... I believe it will see 100.00 price point in next 3-6 months... also NU is still cheap compared to what it has the potential to be... Bitcoin will correct some at some point... correct to the 26-32 range is likely, but then it may be off to the races... government may step in at some point and put a damper on the ones not filing taxes though for their crypto gains.

It'll come back down in a while. Or maybe not. I'm just not into crypto. I did buy some doge on Friday and sold on Monday after Elon tweeted and it shot up, but that was my first experience with crypto. I just don't understand it enough to feel comfortable investing in it

Guys, I hate to be the Debbie Downer for this topic, but this is something worth thinking about:

https://www.cnbc.com/2021/01/30/the-indian-government-may-ban-cryptocurrencies-like-bitcoin.html

I could reasonably see our government making a move like this at some point, and having the Federal Reserve issue an official US crypto-"currency". Not saying that it will happen, just saying it's a possibility.

This is a real concern. The video game my grandson plays unexpectedly updated and he lost all of the weapons and shields he had purchased.

Filecoin jumped from 31.70 to 38.25 since posting this... pretty good return of not a long time holder or jumping in and out based off technical and so on.

Isn't this the same guys that were touting GME and AMC last week? LOL

India is the only large Govt that has tried to ban the use of crypto...They intend to make their own... But how do they ban it really? You literally have to turn off the internet.

Nonetheless....here is an article on the same subject but a much different tone than the blanket Ban statements.
https://www.financemagnates.com/cry...lly-ban-crypto-experts-say-its-unlikely/


And of course its something to think about. I have long and hard because my retirement and way of life depend on it...The scare of XRP and the SEC lawsuit showed that front and center, many knew the SEC was going after Ripple as the shady way they raised money raised significant red flags....With that said, only had a small position in something that risky. But in the end, this is the way the world is going, it can't be stopped but it can be regulated. And that's precisely what the industry needs and looking for. Weed out the 1500 or so tokens out there that are truly scams or "chitcoins" and let the use case tokens thrive.

Further - India corporations are using Blockchain and the utility tokens that serve as the fuel for the network..there are many.

Here's the deal......way to many people hear crypto and they immediately think of it as a replacement currency. 90% of the tokens out there are NOT currencies or currency replacements. Most tokens are the rewards for miners on the blockchain that allow for the blockchain to operate. If there wasn't an incentive for the network operators, it would not function. And those same tokens have value as the use of a particular blockchain gains adoption. Another way to classify it - your business wants to utilize a particular blockchain for supply chain management, tracking produce from the farmer - processor - distributor - retailer .... Access to the blockchain requires the use of their Utility token.... Man, it's hard to explain in a reply but here is a copy paste of what a Utility token actually is in the basic sense:
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~


Utility tokens offer the right to a service or product
A utility token has a wider functionality than a coin. Utility tokens do have value, but they cannot be considered money as straightforward as a coin.

Utility tokens can provide value to investors in different ways. They give users access to a product or service.

A Uber token, for example, could be used to pay for a ride with a Uber car. But not for anything else. If you wanted to use the Uber token to buy another product or service, you would first have to exchange it against either fiat money or a crypto-coin such as bitcoin.

In practice, the use of these terminologies is not as sharp and clear-cut. The terms “coin” and “token” are often used synonymously. The blockchain industry is still young, so the language will evolve over time. However, most industry insiders agree on the broad distinction that a coin is cash and a token is basically everything else.

The US banned the private ownership and use of gold in 1933. They didn't have to go door-to-door or anything. They just told the banks and big companies to stop taking it, and the rest followed.

Hypothetically, if the US followed India's lead on this, all they would have to do is make it illegal, and let financial institutions and big companies do the enforcement grunt work.

What would be the benefit of someone using crypto to buy an uber-coin? I just can't get straight in my mind what the value provided by the crypto is?

Discounts, customer loyalty...Think of it as airline miles or credit card points, these are similar in nature to specific utility tokens. If Uber offered $100 worth of Uber tokens for $75 (those dont exist by the way).... Thats one crude example.

The real utility comes into play for smart contracts between organizations. Instead of a human processing transfers a smart contract - an unbiased source - has rules around when funding can be released once all elements of that smart contract are satisfied. Here's a decent write up on smart contracts.....Take note of Voting Fraud. At some point in the future, voting will be on the blockchain to combat people voting twice, dead people voting, identity verification etc.... https://www.kaleido.io/blockchain-blog/5-examples-of-blockchain-smart-contracts

As mentioned previously, if you look at the blockchain as utilities that make corporations more efficient(medical records, supply chain management, title ownership and countless other examples) VS thinking of them as a currency, it will start to click.

do you have to buy a full coin or can you buy fractions of one? I just don't have $35-50,000 to play with in the market.

Bitcoin is divisible to 8 decimal points. On Coinbase for example you can buy their minimum of $2 - that comes out to 0.000042 Bitcoin

I know a lot of people that have a couple hundred bucks of BTC and ETH for the same reason you note above....The answer is no, you don't have to buy a whole Bitcoin, you can buy fractions.

Looky what popped up in my notifications:

https://www.reuters.com/article/us-...al-bank-is-looking-into-it-idUSKBN1ZZ2XF

If there is anything we learned from Gamestonk, it's that the oligarchy aren't gonna let poor folks get rich, if there is anything they can do about it. Since they already own politicians, then banning crypto seems like a super logical step IMHO.

As for discounts, why would Uber offer discounts for crypto users? I don't see crypto like the modern version of groupon...

Filecoin... 43 dollars now!

I give up....I'm out.

Up over 11 dollars per coin in 5 hours... if you had bought 100 dollars worth, you made 33 dollars. Bought 10k worth... can do the math. Needs to cool off a bit though... will hit 100 in 3-6 months of not sooner in my opinion.

I hear ya!. My grandson buys imaginery weapons and stuff all the time. I can't convince him what a goofy practice this is.

Got up to 52 ish.... I sold at 47 on the cool off... waiting for a good time to jump back in.

I bet your grandson's imaginary weapons aren't worth 6 figures.

Bitcoin payment for their portion = more profit if it’s going up. The dollar isn’t going to grow for ya, interest is terrible.

But what if it's going down?

I mean I could pay them in any investment - I could have paid them in AMC stock last week and they'd be broke now. I have buddies who lost a ton in crypto and really thought they knew what they were doing. Imagine just a normal business owner who doesn't know, or want to know, anything about it. I just don't see the point, or the value. But I'd like to learn.

To the kid, they're probably worth more.

Businesses that accept crypto can set up a transfer system to eliminate the volatility, many do. Someone pays for 407 BBQ ribs in BTC and Bryan instantly converts it to US Dollars and deposited into his bank. Its as seemless as a credit card payment only the difference is the fees are much lower

Who can you pay with any investment??

Nobody, thats why Uber would want to do bitcoin payment and would offer a discount for it.

If your buddies are losing a ton they are not very smart, you cant buy crypto when its run or running up to a new record and expect to make money each time. You only lose money on crypto if you SELL it low, if they had held it till today they would have MADE a lot of money.....

I tried to explain to my nephew how buying imaginary stuff to be used in an online game didn't make any since. He pointed out to me that I used to drop quarters into a slot to play video games and pinball at the arcade which amounted to basically the same thing to him.