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Daddy

Bitcoin/Cryptocurrency

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musicman666
9 minutes ago, Daddy said:

Sorry, but I don't understand the question. I don't know what normal is for Bitcoin or if there is such a thing as normal. One thing I know for sure; investments go up and they go down,  but they never go in a straight line. The secret is to be on the right side of the trade at something approaching the right time. 

Bubbles are created by greed with people jumping in that have never invested in anything but they see something going up, they may not know what it is, but they still think "A greater fool than me will come along and pay more money than I paid for it". Hence the "Greater Fool Theory". These can be educated people but they are being controlled by their emotions, greed.

I've heard of stories of people getting equity loans on their homes to buy bitcoin, some borrowing from credit cards etc. Seeing a bubble is not scientific and trying to predict when it will pop and prices go the other way is very difficult. 

By the way I ALWAYS know that I can be wrong about these things and I prepare for that also. 

There is one other thing I KNOW and that is I will never be 100% right on a trade by buying at its lowest possible level and selling at the highest possible price. Those are pipe dreams

Well the chart for bitcoin has been fairly normal until quite recently like a logathimic curve but December has thrown it a wild one. ...10000 is probably the figure it should be right now. ...and maybe that would be the point it would rally to if panic sets in....

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fred42

 

Quote

 

North Korea 'hacked crypto-currency exchange in South'

 

South Korea's spy agency believes that North Korea is behind hacking attacks on a crypto-currency exchange in the South, sources say.

At least $7m (£5.25m) in digital money was stolen in the hacks - although the money is now said to have ballooned in value to $82.7m.

The thieves also stole the personal information of some 30,000 people.

They were trading the virtual currencies Bitcoin and Ethereum on the Bithumb crypto-currency exchange.

Based on recent trading volumes, Bithumb is South Korea's biggest and one of the five largest in the world.

Analysts say North Korean hackers may have targeted crypto-currencies in order to evade the financial sanctions imposed as punishment for the North's development of nuclear weapons.

This attack is said to date back to February, when a Bithumb employee's home PC was targeted - though it was only discovered in June.

The hackers also demanded a further $5.5m from Bithumb in exchange for deleting traders' personal information, said reports.

The sources in the spy agency, the National Intelligence Service, similarly suspect the North of being behind the hacking of another exchange, Coinis, in September, South Korean news agency Yonhap says.

But a further attempt in October was thwarted, reports said.

Evidence has now been passed to prosecutors.

At present, virtual currencies are not regulated by South Korea's financial authorities but they are now vowing to toughen up regulation.

Three days ago the government imposed fines totalling $55,000 on Bithumb over its failure to protect users' information.
http://www.bbc.com/news/world-asia-42378638

 

 

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broden

Bitcoin transactions will be available in the Telegram interface

http://themerkle.com/bitcoin-transactions-will-be-available-in-the-telegram-interface/

It will be possible to send and convert cryptocurrency in the interface of a familiar messenger.

In January 2018, a new payment service, TransCrypt, will enter the mobile app market, a service that will allow the sending, receiving and conversion of cryptocurrency using the Telegram interface. Transactions will occur in real time and with 0% commission.

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Kreole

Coming in late on the subject of cryptocurrency, I have been looking at Bitcoin Cash as an investment.  I have even created some paper wallets, however, I do not know how to get the cryptocurrency transferred to my wallets.  I won't invest until I know that I will be able to keep my cryptocurrency safe from hackers.  The first and probably most important move is to get it off of the exchange  which is the target of hackers.  Individuals are rarely if ever hacked from what I have read.  

So, my question is:  if I buy Bitcoin or Ethereum (or any of the crypto currencies) how do I immediately transfer it into my private paper wallet?  After the transfer, does any of my transaction data remain on the exchange site that could be used to compromise my paper wallet?  

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Paul
4 hours ago, Kreole said:

Coming in late on the subject of cryptocurrency, I have been looking at Bitcoin Cash as an investment.  I have even created some paper wallets, however, I do not know how to get the cryptocurrency transferred to my wallets.  I won't invest until I know that I will be able to keep my cryptocurrency safe from hackers.  The first and probably most important move is to get it off of the exchange  which is the target of hackers.  Individuals are rarely if ever hacked from what I have read.  

So, my question is:  if I buy Bitcoin or Ethereum (or any of the crypto currencies) how do I immediately transfer it into my private paper wallet?  After the transfer, does any of my transaction data remain on the exchange site that could be used to compromise my paper wallet?  

https://www.coindesk.com/information/paper-wallet-tutorial/

https://bitcoinpaperwallet.com/wallet-tutorial-add-withdraw-funds/

Personally, once my coins are off the exchanges, and in their respective software wallets on my computer, I just back up the wallet.dat file from each wallet. I copy the file to each of three (3) encrypted USB flash drives. I then eject each flash drive and put them somewhere safe. Between doing that and 2fa (Two Factor Authentication), you are about as safe as you will get.

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Thomson

BTC is at $19,150 soon we will see $25,000 after new year and ETH will be $1000

 

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Travis
1 minute ago, Thomson said:

BTC is at $19,150 soon we will see $25,000 after new year and ETH will be $1000

 

i just put another $ 1000 in yesterday. BTC was 19500.

 

I am hearing about a big correction coming that is going to wash out all of the weak hands . This correction will be a down turn..

 

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Daddy
3 hours ago, Travis said:

i just put another $ 1000 in yesterday. BTC was 19500.

 

I am hearing about a big correction coming that is going to wash out all of the weak hands . This correction will be a down turn..

 

IMO you will not see a correction, but rather a total bust of cryptos. Just as the 1999/2000 dot.com bubble took out a lot of people, including some I knew very well, so this will also take out most of the alt coins. This is a necessary part of the business cycle to get the weak hands out so the strong can produce. Some of these coins will survive and thrive and will be worth a lot of money at some point but most will be washed out. It is better to be two months early than two minutes late on these deals. I know I'm early, that is the whole point, get out while the getting is good.

A collapse will take the good coin prices down with the bad. After a  time it will be time to back up the truck but if you lost your money in the bust that may be hard to do. As for me i am in the process of selling all my alt coins now. I have done very well on these coins making up to four times the invested amount in two months or so. I will also sell some Bitcoins very soon to take profit. I plan on keeping a few Bitcoins to hedge my bet as I might be wrong about the downturn. 

I still remain long term bullish on Bitcoin. There are no guarantees in investing just so called educated guesses.

This is my best guess January 18 or 19, 2018 will be the turning point but it could also be before or after that date.

 

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Thomson
4 minutes ago, Daddy said:

IMO you will not see a correction, but rather a total bust of cryptos. Just as the 1999/2000 dot.com bubble took out a lot of people, including some I knew very well, so this will also take out most of the alt coins. This is a necessary part of the business cycle to get the weak hands out so the strong can produce. Some of these coins will survive and thrive and will be worth a lot of money at some point but most will be washed out. It is better to be two months early than two minutes late on these deals. I know I'm early, that is the whole point, get out while the getting is good.

A collapse will take the good coin prices down with the bad. After a  time it will be time to back up the truck but if you lost your money in the bust that may be hard to do. As for me i am in the process of selling all my alt coins now. I have done very well on these coins making up to four times the invested amount in two months or so. I will also sell some Bitcoins very soon to take profit. I plan on keeping a few Bitcoins to hedge my bet as I might be wrong about the downturn. 

I still remain long term bullish on Bitcoin. There are no guarantees in investing just so called educated guesses.

This is my best guess January 18 or 19, 2018 will be the turning point but it could also be before or after that date.

 

It's going to $50,000 first before it ever crashes though.

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Daddy
1 hour ago, Thomson said:

It's going to $50,000 first before it ever crashes though.

My uncle Verdo used to say, "Predictions are hard to get right, especially when you are talking about the future." :D

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Thomson

The dot com bubble was not an open source decentralized currency.

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Daddy
7 minutes ago, Thomson said:

The dot com bubble was not an open source decentralized currency.

I'm not trying to start a debate or argument here. I'm just letting the guys that are interested in this stuff that there is another side to the coin. Markets go up then they reverse and go down. If that doesn't fit your idea of what is going to happen then so be it, I don't have a problem with that. In fact most people that are in the market will probably agree with you. This is not a democracy where every one can vote the way they want. It is a market that is influenced by people around the world and the decisions they make in their own best interests at that time. 

I'm not attacking your opinion or even disagreeing with it. I just have another point of view that is different from yours. You may be 100% correct, only time will tell. 

I will not speak in absolutes as though I'm the smartest guy in the room. I don't want to influence anyone to go one way or the other then blame me for their loss. I don't do that....ever.

Sometimes right, sometimes wrong, always in doubt.

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DeedleNuts

Most very large and notable bubbles have been aided and abetted by governmental regulation. Having said that, virtually anything can potentially have a valuation bubble. 

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Travis

It is now DOWN to  $ 18,450

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Thomson
4 minutes ago, Travis said:

It is now DOWN to  $ 18,450

12 days ago it was $11,923 so actually still up 50% compared to less than 2 weeks ago

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