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Daddy

Bitcoin/Cryptocurrency

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RedRanger
On ‎10‎/‎23‎/‎2017 at 7:35 AM, Semper paratus said:

Bitcoins. The biggest pyramid scheme ever.

This is how I see it as well.

Some will make bank, most won't

 

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Thomson
1 minute ago, RedRanger said:

This is how I see it as well.

Some will make bank, most won't

 

Please do elaborate and explain us why most won't make money from cryptocurrencies? 

Edited by Thomson

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RedRanger
6 minutes ago, Thomson said:

Please do elaborate and explain us why most won't make money from cryptocurrencies? 

Because it is a pyramid Scheme.

 

 

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Thomson
3 minutes ago, RedRanger said:

Because it is a pyramid Scheme.

Oh ok.

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Davaoeno
1 hour ago, RedRanger said:

Because it is a pyramid Scheme.

 

 

You obviously have no understanding about pyramid schemes! There is no comparison. People are not making money because of the efforts of others that they recruited

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broden

df337350096c85640d193a501d3748c368632c45

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Thomson

Money is a pyramid scheme as well then. The biggest one yet.

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Daddy
13 hours ago, rep1 said:

 

Whats Ripple?

Two definitions; One is a fine wine made famous by Fred T Sanford, AKA Comedian Redd Foxx. The other is XRP, aka Ripple, a cryptocurrency. it is one of the higher cap coins, coming in at #4. At the moment it is crashing along with all the other cryptos including Bitcoin. 

At some point, I think after the first of the year, will be a good time to get back in the crypto market when prices are low and everyone is talking about all the money they lost and they hate cryptos now. As the saying goes, "When there is blood in the streets" is the time to buy. When there is "Irrational Exuberance" is the time to sell, which is what we have been in for the past months. IMO

 

Edited by Daddy
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Daddy
13 hours ago, rep1 said:

 

image.thumb.png.8c97b7cfe1f8026bcf7dc248add646df.png

3 minutes ago, Paul said:

@rep1

https://coinmarketcap.com/currencies/ripple/#charts

I would say that "fine" is relative. :D

I stopped using it when I cut my hand opening a can of Ripple. :D

It made a great Christmas gift, getting or receivng a 6 pack. 

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rep1
4 hours ago, RedRanger said:

Because it is a pyramid Scheme.

Given the kind of growth we have seen, all I know is that if any of those turn into a million next year but I don't hold any, I'd become the poorest person in the world.

Think it like insurances.

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Thomson
8 hours ago, Daddy said:

At some point, I think after the first of the year, will be a good time to get back in the crypto market when prices are low and everyone is talking about all the money they lost 

 

@Daddy, The people like me who have been into cryptocurrencies and Bitcoin in particular since 2013 have witnessed so many crashes, we can't even remember them all. Each and every crash and correction has been followed up by a bull run, if no bull run then the price will consolidate for a while but a bull run will inevitably happen. No matter how long the crash takes or how fast it is.

I have spoken with many people like you since 2013 and they are the ones who never end up making decent money with cryptocurrencies. And when I say decent, i'm talking at a bare minimum 5 figures.  You know why? Because you keep waiting for a huge crash to happen, and when it finally does crash, you wait for it to crash even more lower, even though the bottom has been found already. Unfortunately for you, as I mentioned before, crashes are always followed up by a bull run so if you didn't buy in at the bottom you will have missed out and a new ATH will be incoming, so you can start whining about how high the prices are again and how bad you would like it to go down so you could "maybe (oh, maybe)" invest some of that money you have in the bank into these coins.

This crash seems to be bottoming out at $11,000 and will stay in at around $11K until $14K and whenever it hits $15,000 again we will be going back up. That's when most people will start buying back in, because they will not want to miss the train. So basically the people waiting to buy in at lower than $11K will eventually have to buy at much higher prices than what they should have bought. But at least, they will feel happy because they can keep whining about how high the prices are. 

Bitcoin has "crashed" 30% SIX TIMES in 2017. Each "crash" has been followed by an increase of: 76%, 237%, 183%, 165%, 152%.

 

Edited by Paul
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Goetz1965

Im not wooried about those Bitcoin exchange "hacks" - maybe it would be the better idea to open an exchange - trade for a while and then just run away with all the coins - lol - much easier than trading ...

 

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Thomson
1 minute ago, Goetz1965 said:

Im not wooried about those Bitcoin exchange "hacks" - maybe it would be the better idea to open an exchange - trade for a while and then just run away with all the coins - lol - much easier than trading ...

 

Because you are making money with what your trades. Those people who only see the negatives of crypto and deny the existence of anything positive to it, are the ones who are worried.

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RedRanger
20 hours ago, Davaoeno said:

You obviously have no understanding about pyramid schemes! There is no comparison. People are not making money because of the efforts of others that they recruited

That is how I have seen it done in my area.  The people are wanting you to go to a seminar about it, I have seen way too many people trying to recruit other people to get into it on facebooks pages.  To me if it was such a solid investment, then the person would invest it and not try to tell the whole world about it.

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