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Old 7th May 2018, 17:42     #201
Lightspeed
 
Quote:
Originally Posted by Ab
As usual xkcd got there first:

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Old 9th May 2018, 12:23     #202
Nich
 
http://www.piedpiper.com/
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Old 11th May 2018, 18:36     #203
Lightspeed
 
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Old 12th May 2018, 12:09     #204
Nich
 
The flippening will totally happen in 2018.
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Old 12th May 2018, 16:26     #205
crocos
 
All the little shitcoins clustered around like little leeches made me lol
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Old 25th May 2018, 16:46     #206
Lightspeed
 
https://dai.makerdao.com/

https://medium.com/cryptolinks/maker...in-e4481d79b90

This is next level. Draw against your Ethereum without selling it.
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Old 25th May 2018, 18:15     #207
DrTiTus
HENCE WHY FOREVER ALONE
 
I don't understand it.

I'm either just too old, or it's just too complex.
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Old 25th May 2018, 19:14     #208
Lightspeed
 
It's definitely complex. I only grasp the fundamentals.

Basically it's like creating your own bank you can take loans from backed by ETH.
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Old 26th May 2018, 14:34     #209
Deadmeat
 
Quote:
Originally Posted by Lightspeed
Basically it's like creating your own bank you can take loans from backed by ETH.
Quote:
Originally Posted by from link
blockchain magic
Yea, that all sounds fine.
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Old 26th May 2018, 16:30     #210
Lightspeed
 
Indeed. Any sufficiently advanced technology is indistinguishable from magic.
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Old 26th May 2018, 17:35     #211
Ajax
Architeuthis
 
Any excessively convoluted blockchain project is indistinguishable from bullshit.
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Old 26th May 2018, 17:58     #212
Lightspeed
 
lol, okay Ajax.
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Old 28th May 2018, 14:35     #213
Juju
get to da choppa
 
Quote:
Originally Posted by DrTiTus
I don't understand it.

I'm either just too old, or it's just too complex.

You send it Eth, it gives you Dai. Dai is worth $1 US.

You send back the amount of Dai it gave you, you get your Eth back.

Think of it as pawn broking. You give it something of value (Eth) and it loans you dai. When/if you want your collateral back, you pay it back.
If you don't pay it back, and the value of Eth falls below a threshold, it sells your collateral.
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Old 5th June 2018, 12:44     #214
Lightspeed
 
A case for building on Ethereum
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Old 24th June 2018, 18:30     #215
Ajax
Architeuthis
 
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Old 25th June 2018, 10:25     #216
Native
I... err - F*ck It.
 
Quote:
Originally Posted by Ajax
Any excessively convoluted blockchain project is indistinguishable from bullshit.
I work in Supply Chain... and this is a flavour on the fucking week. I look out the 6th-floor window every time this pops up in a meeting.
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Old 21st August 2018, 14:35     #217
Ab
A mariachi ogre snorkel
 
Burnination

https://www.nzherald.co.nz/business/...ectid=12110743
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Old 21st August 2018, 14:49     #218
Nich
 
Never go balls deep on any investment.
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Old 21st August 2018, 15:05     #219
Cyberbob
 
/r/wallstreetbets is full of that stuff.

Makes for entertaining reading
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Old 21st August 2018, 15:25     #220
Lightspeed
 
It's not a loss if you don't sell.

I've sold about 2/3rds of what I bought, to my regret really. But the money was helpful.
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Old 22nd August 2018, 11:26     #221
Nich
 
heh. True that. If you watch 75% of your investment get washed away, then hang in there while it climbs back to 10x ... well.... that's an education.

Lot's of people don't have the support group though. During the July wash out last year I was extremely nervous. I had friends with stress cold sores. But we talked it out with eachother, reminded ourselves of the long-term goal... the best thing to do was to wait.

I have a method now, I have instructed my GF to remind me on how to act accordingly:
- When the markets are getting rekt (ie right now), and I feel I should put in a manual stop loss... its already too late, we're at the bottom of the market, and I'd lock in a terrible loss .. Sit tight.
- When I am happy every day, and start saying things like "I am $100,000 away from retirement!" That's when she must tell me to sell.


This year crypto has been very beneficial for me. Put a 20% deposit on an investment property, and started a new business venture. Both of which would have been very difficult, or simply would not have happened without crypto.


The Bitcoin standard is an excellent read. I can't recommend it enough. It's a no brainer that one should diversify their wealth into Bitcoin or Ethereum. Just don't go balls deep. Invest a little into hard money, invest in stocks, invest in index funds, be smart with tax offsets, get into property if you can. Squirrel your money away while you are able to make money, and be diverse. Then you have the levers to pull on when correlation kicks in ... rebalance to the new paradigm, and wait for a new crash, spike, boom, or bust.

Last edited by Nich : 22nd August 2018 at 11:30.
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Old 22nd August 2018, 11:36     #222
Cyberbob
 
All in on AAPL. Got ya.
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Old 22nd August 2018, 17:04     #223
Ab
A mariachi ogre snorkel
 
So you're saying... buy TSLA?
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Old 23rd August 2018, 11:17     #224
Nich
 
TSLA isn't the worst choice.

Right now it's very hard to distinguish signal from noise. I think many investors want to drag the price lower with fake "insider" news so they can secure a low low price for their clients. On the one hand, Tesla may indeed be failing. On the other hand, people may be attacking Tesla while it is making huge investments in infrastructure and setting up control of manufacturing. Yeah, on paper this will of course make it seem like Tesla is not profitable. I don't think we can truly know either way, but I do know that controlling manufacturing will serve them well in the long run.

Tesla is a maker of physical things, and physical things that the world needs. When we emerge from our love of SAAS, and discover very few companies are actually building stuff, Tesla will have first mover advantage.



(Yes, I have a long position on TSLA shares

Last edited by Nich : 23rd August 2018 at 11:19.
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Old 25th August 2018, 11:47     #225
Ajax
Architeuthis
 
Quote:
Originally Posted by Ab
At this point, a thoroughly rigged and manipulated market that only rubes would invest in. Which is a shame because the underlying technology has a lot of potential.
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Old 28th August 2018, 10:22     #226
blynk
 
I think I am about to take the plunge.

Not a lot, but a small investment. Time to go research, and work out what different ROIs might happen.
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Old 28th August 2018, 14:24     #227
Nich
 
Come on in. Get in while everyone is rekt and saying how dead crypto is. Although, bear in mind that we may indeed go much lower before we go higher... and we may go to $0 also.

Here's your dashboard:
https://ckrypto.com/

Here's some learning resources:
https://bitcoin.org/en/resources

Read:
Andreas Antonopolous - The Internet of Money
Saifedean Ammous - The Bitcoin Standard
Bitcoin Whitepaper - https://bitcoin.org/bitcoin.pdf
Ethereum Whitepaper - https://github.com/ethereum/wiki/wiki/White-Paper

Keep your magic internet money safe with a hardware wallet:
https://www.ledger.com/products/ledger-nano-s
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Old 28th August 2018, 15:28     #228
DrTiTus
HENCE WHY FOREVER ALONE
 
Quote:
Originally Posted by blynk
I think I am about to take the plunge.

Not a lot, but a small investment. Time to go research, and work out what different ROIs might happen.
I wouldn't expect much in the way of "return".

You could set up a recurring small amount (that you won't miss) via https://mycryptosaver.com/ (not an affiliate link) so that you take advantage of dollar-cost averaging. On the weeks it's cheaper you get a bit more, on the weeks it's up you get a bit less. In the long run you have "some" and you haven't made a significant sacrifice. Cancel at any time.
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Old 29th August 2018, 11:19     #229
blynk
 
My ROI would be based on long term.

More just out of interest than anything, and just to keep track of what you would expect from a bank etc.

Thanks for the links @Nich
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Old 29th August 2018, 18:19     #230
Lightspeed
 
What's your method for determining ROI?
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Old 5th September 2018, 16:50     #231
blynk
 
Something along the lines of working out the future value of my investment based on just having it with a bank.

Then I would probably track that back to what the price of BTC/ETH would need to be after each year.
And probably compare a few different scenarios.

Nothing that scientific, but just would be be interested.
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Old 5th September 2018, 16:51     #232
blynk
 
What is the view of BTC when the next GFC happens.

I might have to go back and look to see what happened with gold to try and get a comparison
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Old 5th September 2018, 16:59     #233
Cyberbob
 
Quote:
Originally Posted by blynk
I might have to go back and look to see what happened with gold to try and get a comparison
It shot up in 2008/09 as the GFC started, and crashed in '13. There's loads of literature surrounding it. 2011-13 was far more important to gold than 08/09
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Last edited by Cyberbob : 5th September 2018 at 17:01.
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Old 5th September 2018, 17:39     #234
DrTiTus
HENCE WHY FOREVER ALONE
 
Quote:
Originally Posted by blynk
What is the view of BTC when the next GFC happens.

I might have to go back and look to see what happened with gold to try and get a comparison
Next GFC will be different because last time was a bank bail-out, the next time will be a bank bail-in. This means there is a non-zero chance that your bank account will be trimmed by a certain percentage. It might be fairer to say each depositor owes the same amount, but since when was life/banking fair?

Once banks start failing, I expect there will be a panic which will cause hyper inflation, in the sense that both credit and cash money will be hard to come by, which will make "just in time" orders of goods difficult, which will mean shortages of things, and increased demand for physical stock.

Having a functioning decentralized transaction network (any crypto, not just BTC) means people could still trade amongst themselves. Depending on how bad things get/are, we could lose all our bank balances. But the joke's on all of us, because mortgages won't be wiped. It'll just be a mortgage call in, and if you can't pay, you will be forced to give up your home in a mortgagee sale, because you signed the form that says it's the bank's property until they say otherwise.

If you're speculating on BTC because you want an increase in your fiat digits, then you missed both the boat and the point. BTC is a hedge against fiat, so you should acquire as much as you think you might need, and can afford.
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Old 5th September 2018, 18:05     #235
Nich
 
^^ this guy fucks!
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Old 6th September 2018, 15:23     #236
Native
I... err - F*ck It.
 
Quote:
Originally Posted by Nich
^^ this guy fucks!
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Old 6th September 2018, 18:21     #237
crocos
 
DrTiTus: OBR legislation is designed to control that. Will be ...interesting... to see if it's effective but.
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Old 7th September 2018, 12:11     #238
Nich
 
Huge wash trading going on. Hold on to your row boat people! Sharks in the water
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Old 7th September 2018, 13:01     #239
DrTiTus
HENCE WHY FOREVER ALONE
 
Bank Dashboard

Updates every 3 months, so only really useful for historical record :P


crocos: The OBR document talks of a "de minimis for daily transactions" - I assume this means a daily limit that this is intended to prevent a run on the bank for remaining funds? Any idea if this is the correct interpretation, and what that limit might be? (I'm guessing a max of around $800/day)
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Old 7th September 2018, 13:53     #240
crocos
 
No idea with the limit, but you've interpreted the idea correctly. It's designed to secure the remaining banks if one of them goes under by preventing withdrawal runs. Frankly the legislation is really shittily written and can be interpreted to your original consequence of just taking your money.
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