The ramifications of blockchain technology?

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Re: The ramifications of blockchain technology?

#201  Postby OlivierK » May 18, 2019 12:31 pm

More sellers than buyers. Oh, well. :dunno:
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Re: The ramifications of blockchain technology?

#202  Postby jamest » May 18, 2019 2:14 pm

The recent dump has been expected for quite some time now, as btc was completely oversold and the parabolic trend was utterly unsustainable. In post 174 (posted less than 5 days ago) I even warned nobody to buy in at that time. So I'm not really concerned atm and won't really become so unless it goes back down below the 6+K resistance level (now support).
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Re: The ramifications of blockchain technology?

#203  Postby jamest » May 18, 2019 2:30 pm

Macdoc wrote:Jamest - the day you admit you are simply speculating with family money in a very high risk manner is the day you'll earn some respect.

Well yes, I am speculating (based upon a detailed study), that the price will trend generally upwards for the next couple of years.

Is it high risk compared to investing in fiat-based assets in consideration of the current debt crisis etc. (which I've discussed here already), knowing that all fiat has failed within a few decades throughout history?

You see, many analysts are predicting an economic catastrophe very soon, even this year, so in light of this it would seem "very high risk" to be leaving your money in the bank or to be investing in shares. That's the main reason I've put my money into crypto, gold and silver. If the crypto market does majorly crash I always have the option to sell, but then I'll be buying more gold and silver. I'm staying away from shares.
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Re: The ramifications of blockchain technology?

#204  Postby jamest » May 18, 2019 2:42 pm

I recommend that you all watch this video, it's excellent, about the fall of the dollar.

https://youtu.be/fjhLp8AHAYc

... I'd also recommend that you suscribe to Cambridge House as they have many such presentations to watch.
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Re: The ramifications of blockchain technology?

#205  Postby Macdoc » May 18, 2019 3:08 pm

Cambridge House ??!!
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Jamest do you even know what fractional lending is?
:popcorn:
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Re: The ramifications of blockchain technology?

#206  Postby jamest » May 18, 2019 3:10 pm

Do you know what the capital city of Albania is?
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Re: The ramifications of blockchain technology?

#207  Postby minininja » May 18, 2019 4:00 pm

jamest wrote:Is it high risk compared to investing in fiat-based assets in consideration of the current debt crisis etc. (which I've discussed here already), knowing that all fiat has failed within a few decades throughout history?

See, this is one of the things that keeps me doubting if you understand what you are doing. I'm not claiming to be particularly knowledgeable on markets, speculation or investments, but you've made several mentions in this thread of the alternative to crypto-coin speculation as being "investing in fiat-based assets". Correct me if I'm wrong, but unless you are talking about currency speculation, which is not investment, any assets you might invest in are going to have some basis in tangible goods or in a business as a going concern i.e. not fiat based, and so long as there is any sort of functioning economy in the world, likely to hold some minimum value. Of course there's still plenty of room for bubbles, market crashes or business failures etc. but surely no more so than with crypto-currencies that are just speculation and without a state economy to back them up.
[Disclaimer - if this is comes across like I think I know what I'm talking about, I want to make it clear that I don't. I'm just trying to get my thoughts down]
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Re: The ramifications of blockchain technology?

#208  Postby Macdoc » May 18, 2019 4:12 pm

Do you know what the capital city of Albania is?


and that has about as much relevance as your new found expertise.... :nono:

That you refuse to answer simply shows how shallow your understanding is of the deeper issues. :popcorn:
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Re: The ramifications of blockchain technology?

#209  Postby Svartalf » May 18, 2019 8:46 pm

jamest wrote:Do you know what the capital city of Albania is?

I could tell you, but I'm feeling mean, and I don't know what fractional lending it, it does not even have a wiki page for me to get the cliff notes.
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Re: The ramifications of blockchain technology?

#210  Postby Hermit » May 18, 2019 10:41 pm

Svartalf wrote:I don't know what fractional lending it, it does not even have a wiki page for me to get the cliff notes.

Fractional lending basically means that only a fraction of the money a bank lends out needs to actually exist. If a bank has a billion dollars worth of liquid assets (chiefly money deposited by its customers in savings and other accounts) it feels entitled to lend 10 billion out to customers. It's a neat way of making a profit out of money that does not even exist.

If you feel uneasy about so much non-existent money being traded, hold on to your hat, for it gets worse than that. Much, much worse. Say, a banker has loaned you $100,000 to buy a house on the basis that the bank has one tenth of that amount in actual funds. Your mortgage now becomes an asset the bank can trade with other financial institutions. In other words, the banker has turned a $10,000 asset into an $100,000 asset. He can now lend out $1,000,000. It's a Ponzi scheme without limits, and it's legal. When people start panicking about the outrageousness and try to retrieve their money from their bank accounts, it'll all come down like a house of cards, of course. The banker will laugh nervously in your face and say something like: "You want your money back? What money? I haven't got it."

So, yeah, JamesT is right about fiat currency; it's mostly fictitious, consisting of little else than more or less unjustified trust. Where JamesT is wrong is in imagining that cryptocurrencies are any different. If anything, they are worse - backed by nothing more substantial than the figment of a programmer's imagination. When the shit hits the fan, the only things of any value at all are things you can use to barter with. I might swap one of my hammers for half a kilo of your nails, two of my chicken's eggs for a litre of your cow's milk, that sort of stuff.
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Re: The ramifications of blockchain technology?

#211  Postby Macdoc » May 18, 2019 11:06 pm

Tulips are pretty at least tho wilt quick.

Fractional lending/banking did/does have an important role in matching money supply to economic growth which those wanting a gold standard or some such ignore completely.
IF rules are followed for lending at a say 75% of an assets realistic real world value then the process works.

Just to give you an insight tho ....
If you I or Uncle Henry have one house we can rent it once.
If the bank has one house it can rent the same house out 10-30 times. Now given that inherent advantage over the rest of those in business.....it's hilarious in a dark humour way that they could fuck it up so bad in 2008.

Part of it was due to buying on margin so instead of lending on a substantial asset all of a sudden they were lending on leveraged securities of often questionable realizable value.
Given the complicity of those supposedly overseeing the "quality" of assets ...it was a predators delight.

THEN they had the gall to ask for and get tax payer bail outs.

Just maybe disintermediation in the form of peer to peer lending will cut the fuckers out entirely. One reason banks don't like crypto is it allows secure exchange from peer to peer.
It's.....complicated. :coffee:
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Re: The ramifications of blockchain technology?

#212  Postby jamest » May 21, 2019 1:25 am

This is not financial advice, as I'm not qualified (apparently) to give it, however an important event is about to take place which is what I want to discuss. That involves Litecoin and 'halving'. If you're interested then do your own research about both. The bottom line? If you buy LTC soon, you could potentially make xxx% gains within 3 months.
Review the last halving event for LTC in August 2015, to get my gist. For the record, I've recently purchased a significant 4-figure sum myself, with a view to selling sometime before August. I'll be watching the charts closelysince note importantly that the halving event itself does not coincide with the highest price.
The worst that can happen is that you'll lose a handful of dollars. Stop shitting yourselves and get busy living. I'm in this shit to the tune of approaching 25+K, I'm not kidding, and I'm not worried at all. Since I've more-or-less doubled my money in 3 months, I'd hope that you might take some notice of this post, for your own sakes.
Just do some homework. I'm not kidding you, there is still an opportunity here for you all to make some serious money.

This isn't the philosophy forum and I'm not trying to prove that God exists by making a few quid from cryptocurrency. There's no pressure here to become an idealist. Please, get your heads out of your arses, as there's no philosophical politics occuring here on my part.
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Re: The ramifications of blockchain technology?

#213  Postby OlivierK » May 21, 2019 7:09 am

James, if the LTC halving event is guaranteed, or even highly likely, to produce gains, why aren't those gains priced in to the current price?
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Re: The ramifications of blockchain technology?

#214  Postby jamest » May 21, 2019 10:44 pm

OlivierK wrote:James, if the LTC halving event is guaranteed, or even highly likely, to produce gains, why aren't those gains priced in to the current price?

It doesn't matter why, they just aren't. Take for example the chart below of the last litecoin halving event, which occured in late August 2015:

The price spiked to $8.57 on the 10th July about 6 weeks before the halving, but had notably dropped to less than $3 by the time of the halving. Just one month before this spike, the price was at $1.78, so within the space of a month the price of LTC rose 500% before dipping back significantly.

The next LTC halving event is in early August of this year, the 5th iirc. If a similar situation ensues this year then it is very possible that anyone invested in litecoin might see similar gains towards the end of June/early July. Of course, timing is key, and one should be prepared to parachute from the sky at a moment's notice.

Worst case scenario, it doesn't happen, but you're still left with an asset which you can sell for more-or-less the same value. As tips go, this is about as good as it gets.
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Re: The ramifications of blockchain technology?

#215  Postby jamest » May 21, 2019 11:09 pm

Bitcoin's last halving event which occured July 9th 2016 afaik, produced a similar pattern though the rewards weren't as great and the timing was slightly different. The chart indicates that Btc reached a high of about $775 on June 18th, about 3.5 weeks before the halving event, before dropping substantially. However, less than 4 weeks prior to the high it was less that $440. Again, the chart indicates that fomo is late to kick in and that there is an opportunity to acquire significant gains within a short span of time. Again, timing is key and a good parachute should be at hand.
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Re: The ramifications of blockchain technology?

#216  Postby jamest » May 21, 2019 11:38 pm

If I were to try and answer your original question OlivierK, I guess my response would be along the lines that there are just tooooooo many predictable fools out there who know nothing about technical analysis, preferring instead to use their heart/instinct to buy/sell. Further, I would add, there are also toooo many technical analysts out there all betting on the same horses. As I learnt from someone, technical analysis is a self-fulfilling prophecy. The number of them all betting on the same outcome as August 2015 is very high. Very, very high.

I'll be very surprised if there isn't a significant surge in the price of LTC within the next 6/7 weeks, but if it doesn't happen it won't be the end of the world as you can always sell it for a similar price.

There's the potential here for xxx% gains and only (realistically) x% losses. It's a no brainer.
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Re: The ramifications of blockchain technology?

#217  Postby Macdoc » May 21, 2019 11:44 pm

So Jamest you pulled the lever and came up with a small win.
Suggest you then get out with your original capital intact and only bet the amount you are up. That should be sufficient proof of your "expertise" :coffee:
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Re: The ramifications of blockchain technology?

#218  Postby jamest » May 22, 2019 12:12 am

Macdoc wrote:So Jamest you pulled the lever and came up with a small win.
Suggest you then get out with your original capital intact and only bet the amount you are up. That should be sufficient proof of your "expertise" :coffee:

You don't get it Mac, squire. The whole house of cards revolving around fiat/shares is about to come crashing to the ground. Maybe even this year. Do you think I'm daft enough within this environ of shit to entrust my wealth with the US dollar, Trump, my pathetic government, or my country's banks? Not a fuckin' chance!

And I haven't had a "small win". Small by your standards, maybe, but doubling your money within 3 months to the tune of xxxxxK is significant to 'working class' people such as myself. Further, as I keep reiterating, I didn't pull a lever. Rather, I've studied intensely for close to a year and thus my actions are a response to that study.

If you want to play it safe, get your wealth into precious metals, especially gold and silver. Further, if you can deal with the stress then take possession of those assets and don't leave them in vaults for when the shit hits the fan our governments will rob those vaults. It's happened before and it will happen again, because governments do whatever they have to do to remain in power. Previous links within this thread substantiate this truth.

If there was a place on Earth, where there wasn't some dick like Trump in charge and society didn't revolve around its monetary system, I'd fuck off in an instant. Unfortunately, I can think of no such place. Therefore, I'm doing whatever I can before the comet hits.
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Re: The ramifications of blockchain technology?

#219  Postby Macdoc » May 22, 2019 3:13 am

oh for fucks sakes ...hopelessly drowned in the koolaid.

Just what are you buying with your 1.6 bitcoin gain.?? Got a greengrocer that takes BT?
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Re: The ramifications of blockchain technology?

#220  Postby Cito di Pense » May 22, 2019 7:04 am

jamest wrote:Maybe even this year.


The big waffle is "maybe". Check back in a year. If there isn't another year, don't check back.
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