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Author Topic: Cryptocurrency  (Read 8338 times)

Big Frank

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Re: Cryptocurrency
« Reply #20 on: February 03, 2018, 12:55:22 PM »
There are currently 1,507 different cryptocurrencies but bitcoin is still the biggest one. It lost BILLIONS of dollars in value then started going up again. It has way too many ups and downs for me.  https://coinmarketcap.com/all/views/all/
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""It may be laid down as a primary position, and the basis of our system, that every Citizen who enjoys the protection of a free Government, owes not only a proportion of his property, but even his personal services to the defence of it, and consequently that the Citizens of America (with a few legal and official exceptions) from 18 to 50 Years of Age should be borne on the Militia Rolls, provided with uniform Arms, and so far accustomed to the use of them, that the Total strength of the Country might be called forth at a Short Notice on any very interesting Emergency." - George Washington. Letter to Alexander Hamilton, Friday, May 02, 1783

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Solus

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Re: Cryptocurrency
« Reply #21 on: February 03, 2018, 03:17:13 PM »
Quote from: jumbofrank on February 03, 2018, 12:55:22 PM
There are currently 1,507 different cryptocurrencies but bitcoin is still the biggest one. It lost BILLIONS of dollars in value then started going up again. It has way too many ups and downs for me.  https://coinmarketcap.com/all/views/all/

Not that I am an expert, but in the stock market there are those, maybe called "Market Makers" who can influence a very large number of investors.   They can trigger a significant drop is a particular stock's price by directing their adherents to sell.  As expected the price of that stock will drop dramatically.

Then when it is low, they are all directed to buy again, causing an initial rise by their purchasing at a very low price..and others not associated with them to buy to get on the rising bandwagon.

Of course when the price is high again, the order to sell can go out again making large profits for the early buyers and early sellers..

The very same thing can much more easily happen with Cybercurrency...and I expect it is.
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Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!"
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Big Frank

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Re: Cryptocurrency
« Reply #22 on: February 03, 2018, 07:25:09 PM »
Everything in the stock market has it's ups and downs but those billions that bitcoin lost were over a 2 month period. I don't have stock in anything at this time, but that seems extreme to me.
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""It may be laid down as a primary position, and the basis of our system, that every Citizen who enjoys the protection of a free Government, owes not only a proportion of his property, but even his personal services to the defence of it, and consequently that the Citizens of America (with a few legal and official exceptions) from 18 to 50 Years of Age should be borne on the Militia Rolls, provided with uniform Arms, and so far accustomed to the use of them, that the Total strength of the Country might be called forth at a Short Notice on any very interesting Emergency." - George Washington. Letter to Alexander Hamilton, Friday, May 02, 1783

THE RIGHT TO BUY WEAPONS IS THE RIGHT TO BE FREE - A. E. van Vogt, The Weapon Shops of Isher

TAB

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Re: Cryptocurrency
« Reply #23 on: February 05, 2018, 10:03:12 AM »
its official, bitcoin down 10k from what it was one month ago.

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Big Frank

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Re: Cryptocurrency
« Reply #24 on: February 05, 2018, 12:56:42 PM »
Wow. December 16th bitcoin closed at $19,497.40. Yesterday it closed at $8,277.01, about a 58% loss.
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""It may be laid down as a primary position, and the basis of our system, that every Citizen who enjoys the protection of a free Government, owes not only a proportion of his property, but even his personal services to the defence of it, and consequently that the Citizens of America (with a few legal and official exceptions) from 18 to 50 Years of Age should be borne on the Militia Rolls, provided with uniform Arms, and so far accustomed to the use of them, that the Total strength of the Country might be called forth at a Short Notice on any very interesting Emergency." - George Washington. Letter to Alexander Hamilton, Friday, May 02, 1783

THE RIGHT TO BUY WEAPONS IS THE RIGHT TO BE FREE - A. E. van Vogt, The Weapon Shops of Isher

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Re: Cryptocurrency
« Reply #25 on: Today at 03:10:42 PM »
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Big Frank

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Re: Cryptocurrency
« Reply #25 on: February 05, 2018, 10:43:25 PM »
And it gets even worse. December 17th bitcoin hit a high of $20,089.00. That's the highest it's ever been AFAIK. It's under $6,100 right now. What a great investment.  ::)
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""It may be laid down as a primary position, and the basis of our system, that every Citizen who enjoys the protection of a free Government, owes not only a proportion of his property, but even his personal services to the defence of it, and consequently that the Citizens of America (with a few legal and official exceptions) from 18 to 50 Years of Age should be borne on the Militia Rolls, provided with uniform Arms, and so far accustomed to the use of them, that the Total strength of the Country might be called forth at a Short Notice on any very interesting Emergency." - George Washington. Letter to Alexander Hamilton, Friday, May 02, 1783

THE RIGHT TO BUY WEAPONS IS THE RIGHT TO BE FREE - A. E. van Vogt, The Weapon Shops of Isher

Solus

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Re: Cryptocurrency
« Reply #26 on: February 06, 2018, 10:47:15 AM »
That's how the "game" works...

The "makers" group buys low and others see the upward movement and buy too...then when it gets high, the group sells...and others fearing a drop is coming, sell and continue the drop....

Just keep repeating...

Now would be the time to buy....just be sure to sell before the mass drop starts.

Disclaimer:  I don't invest.
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Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!"
—Patrick Henry

"Good intentions will always be pleaded for every assumption of authority. It is hardly too strong to say that the Constitution was made to guard the people against the dangers of good intentions. There are men in all ages who mean to govern well, but they mean to govern. They promise to be good masters, but they mean to be masters."
— Daniel Webster

Big Frank

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Re: Cryptocurrency
« Reply #27 on: February 06, 2018, 02:26:33 PM »
I'll have to be content earning 0.15% on my savings and 0.10% on my checking at one credit union, and 0.5% on my savings at another one. Getting 0.15% is 5 times better than only getting 0.03% at a bank, but when I was in high school banks were paying 5.25%.
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""It may be laid down as a primary position, and the basis of our system, that every Citizen who enjoys the protection of a free Government, owes not only a proportion of his property, but even his personal services to the defence of it, and consequently that the Citizens of America (with a few legal and official exceptions) from 18 to 50 Years of Age should be borne on the Militia Rolls, provided with uniform Arms, and so far accustomed to the use of them, that the Total strength of the Country might be called forth at a Short Notice on any very interesting Emergency." - George Washington. Letter to Alexander Hamilton, Friday, May 02, 1783

THE RIGHT TO BUY WEAPONS IS THE RIGHT TO BE FREE - A. E. van Vogt, The Weapon Shops of Isher

Solus

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Re: Cryptocurrency
« Reply #28 on: February 06, 2018, 03:18:28 PM »
Quote from: jumbofrank on February 06, 2018, 02:26:33 PM
I'll have to be content earning 0.15% on my savings and 0.10% on my checking at one credit union, and 0.5% on my savings at another one. Getting 0.15% is 5 times better than only getting 0.03% at a bank, but when I was in high school banks were paying 5.25%.

I remember that also...and remember thinking if I won the lottery for 1,000,000 shouild I take it all at once or the $50,000 a year...and thinking that 50,000 is bank interest on that 1,000,000...

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Is life so dear, or peace so sweet, as to be purchased at the price of chains and slavery? Forbid it, Almighty God! I know not what course others may take; but as for me, give me liberty or give me death!"
—Patrick Henry

"Good intentions will always be pleaded for every assumption of authority. It is hardly too strong to say that the Constitution was made to guard the people against the dangers of good intentions. There are men in all ages who mean to govern well, but they mean to govern. They promise to be good masters, but they mean to be masters."
— Daniel Webster

Rastus

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Re: Cryptocurrency
« Reply #29 on: February 07, 2018, 06:24:53 AM »
Good luck on 50k in bank interest on a million right now.  Money supply will be tightening and interest rates will be going up but 5% from a bank right now is a looking glass number.

You can get 3.5 to 5% dividend return on utility stocks right now.  Problem is...in general once bank interest does start going up the utilities are going to look a little like bonds tending to go down in price as people sell to get into banks and other debt dealers to get the relatively safe interest on CD's and money market instruments.  So, one needs to be happy with say 4-1/2%+/- dividend on a utility stock (this is NOT advice I like ETR, PPL, EXC, and others) even though bank instruments may be much higher. 

So for instance, you buy a $100 stock that pays $5 a year and 4 years later interest is at 10%.  That stock may drop down to $50 in value so that the dividend pays an interest rate to a new owner that is 10%...the guy who bought it at $100 is still getting his $5 a year on his investment of $100 which is 5% to him but the people who buy the stock cheaper at $50/share get 10% return on their investment. 

This doesn't consider any growth in a company or dividend increases both of which are likely to happen in a growing economy.

For whatever it's worth....
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