Cryptocurrencies

[Spizz]

Here's hoping he loses the lot.

I don't think he'd notice.

 

[biometrics]

$1.5 billion Musk has reportedly invested in Bitcoin. Hence the latest little jump.

All the cryptodrones are falling over themselves about this but forgetting Musk is out to take their money, not make them richer.

 

[biometrics]

I don't think he'd notice.

He will when Tesla is priced correctly.

 

[biometrics]

You want hard assets?

More into paying off my house. Two more years. Then I can "invest" too.

 

[SoldierMan]

$1.5 billion Musk has reportedly invested in Bitcoin. Hence the latest little jump.

Yip and I see that trend continuing.
We'll see what happens with Bitcoin when China releases it's much talked about digital currency (if it's backed by gold all bets are off) and after the Great Reset that the WEF was blabbing about. And of course every other country will want it's own digital currency if that happens. Imagine a digital Dollar, they will be able to "print" even faster than they already are.

 

[SoldierMan]

He will when Tesla is priced correctly.

Haha yeah talk about a bubble that's ready to pop.

 

[Prom]

What promises on returns are you given when you buy your cryptocurrency?

It's how those hodling it behave. They know they only win if someone buys higher than they did so they keep trying to convince some bigger fools to join in.

 

[Prom]

tulips are still grown and traded, hype fiascos don't indicate that the commodity asset is worthless

I don't think it's worthless. It's good for something in another form just majorly overhyped especially for its monetary value.

My position is this. I won't buy into it. If there's a big enough crash I'd buy because it's likely to give a return. And if it doesn't the next one will to make up the loss.

Chinese new year on the way btw.

 

[Paul Hjul]

It's how those hodling it behave. They know they only win if someone buys higher than they did so they keep trying to convince some bigger fools to join in.

you putting out an awfully big brush and I am not entirely sure you know the difference between hype and ponzi.

 

[Prom]

you putting out an awfully big brush and I am not entirely sure you know the difference between hype and ponzi.

The area to paint is particularly big. Just look at the media reports. Virtually nothing on the price likely to drop big in the future and I think if you look you'd likely find those people are invested in it somehow.

The bull run actually happened after media reports about a bull run that was non existent at the time and it could have gone either way. So to say this thing isn't entirely hype driven and run like a ponzi scheme is not accurate as well.

 

[SoldierMan]

It's how those hodling it behave. They know they only win if someone buys higher than they did so they keep trying to convince some bigger fools to join in.

Um that's how many things work, that's one of the things that affects price, if people keep buying a stock the price goes up. What did that idiot investor Dave Portnoy say, "Stocks only go up." I don't buy that sentiment one bit by the way.
Bitcoin is also limited to 21 million which also makes it somewhat scarce and so will effect price.

 

[biometrics]

Bitcoin is also limited to 21 million which also makes it somewhat scarce and so will effect price.

Nonsense.

2) Divisibility
Fortunately, Bitcoin is divisible up to 8 decimal points. The smallest unit, equal to 0.00000001 Bitcoin, is called a "Satoshi" after the pseudonymous developer behind the cryptocurrency.

21,000,000 * 1,000,000,000 = 21,000,000,000,000,000.

Not infinite but pretty readily available. Might be out by 10, not sure.

 

[satanboy]

Nonsense.



21,000,000 * 1,000,000,000 = 21,000,000,000,000,000.

Not infinite but pretty readily available. Might be out by 10, not sure.

Just that should make people think. Bullshit baffles brains I guess.

 

[SoldierMan]

Nonsense.



21,000,000 * 1,000,000,000 = 21,000,000,000,000,000.

Not infinite but pretty readily available. Might be out by 10, not sure.

No, there are 21 million Bitcoin to be mined. That is it. Full stop. Obviously Bitcoin can be broken down. That is like saying R1 loses it's value because it can be broken down into 100 cents. 100 cents equals R1. The R1 still maintains it's original value.

 

[Jings]

How does a person withdraw funds to ZAR currency for EFT? Instructions says to put in the Bitcoin address but there's only one for deposits.

 

[biometrics]

How does a person withdraw funds to ZAR currency for EFT? Instructions says to put in the Bitcoin address but there's only one for deposits.

Have you got a Luno or Ice3X account? Send it to your BTC wallet there and then EFT it from there (once you've converted to Rand).

 

[Jings]

Have you got a Luno or Ice3X account? Send it to your BTC wallet there and then EFT it from there (once you've converted to Rand).

Got the crypto on Ice3X. How do I send to wallet? It says the address is only for deposits. Only way to convert to Rands seems the currency must be sold.

Suddenly remember why I HODL'd.

 

[biometrics]

Got the crypto on Ice3X. How do I send to wallet? It says the address is only for deposits. Only way to convert to Rands seems the currency must be sold.

Suddenly remember why I HODL'd.

The shitcoins are paired with BTC iirc. So you need to sell the Doge for BTC. Therefore they want your BTC wallet address.

You then sell the BTC for Rand. If you have a bank account set up then EFT to there. If not you need to do the KYC process.

 

[Jings]

The shitcoins are paired with BTC iirc. So you need to sell the Doge for BTC. Therefore they want your BTC wallet address.

You then sell the BTC for Rand. If you have a bank account set up then EFT to there. If not you need to do the KYC process.

Thanks, process started. A bit late though because the price is coming down again. These coins are fickle to say the least.

 

[Bandit]

Anybody here use Coinrule.io ?

I signed up, created a trading "bot"/rule on a demo account and let it loose and I am up 11% in a day. So obviously I'll monitor it over a couple of weeks or so but if the growth is there and it works why wouldn't I use it? My research suggests there is nothing dodgy about them and it is all above board.