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CigarStone said:
I appreciate your help. This still makes zero sense to me. In something as advanced and complicated as crypto, how could the limitation of a simple calculator be the foundation on which it is built?
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It was a metaphor
 
We can also chase down asteroids, comets, meteors, for more precious metals. Except we need rare-earth metals first. I wonder if they can be rare-earth metals if they're mined OFF earth?

As far as crypto as a whole.. China has in effect banned it. You're not gonna have a "global" anything without China.. especially anything financial.
 
Scap said:
Is it tracking the FED or is it tracking the banking collapses?
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Yes. A run on any bank the size of SVB is gonna also spike gold as a hedge safe-haven. Especially if you were heavy in the market and/or R.E. during '08-'10. And the Twitter age.. where a spook in the system can be communicated instantly, causing a bank run.

Which is really the crux of why SVB went down so fast despite passing means & risk exposure tests just recently. You can pass all the tests in the world, but unless the bank is 100% liquid, you can't beat a run.

I just can't figure out why a freeze didn't occur as soon as a run was evident?
 
Jeff. @CigarStone I don’t mean to be an ass but no one here will be able to explain what Bitcoin is and how it works unless you do some reading or googling on your own.

Crypto is a very interesting concept and it goes well beyond Bitcoin and just how much of it is out there. Or can ever be out there. A lot of best crypto concepts are also tied to Utility. Ex you want one software to talk to another software this will cost you say 1 coin of crypto X per hour to achieve.

In my opinion as technology gets more and more advanced this is the future of crypto. Now all these coins are valued in comparison to Bitcoin not dollar. also to buy coin X you will need some Bitcoin vs a dollar. Making Bitcoin a necessary commodity for crypto transactions as well as a measuring stick for overall crypto market.
 
CgarDan said:
Jeff. @CigarStone I don’t mean to be an ass but no one here will be able to explain what Bitcoin is and how it works unless you do some reading or googling on your own.

Crypto is a very interesting concept and it goes well beyond Bitcoin and just how much of it is out there. Or can ever be out there. A lot of best crypto concepts are also tied to Utility. Ex you want one software to talk to another software this will cost you say 1 coin of crypto X per hour to achieve.

In my opinion as technology gets more and more advanced this is the future of crypto. Now all these coins are valued in comparison to Bitcoin not dollar. also to buy coin X you will need some Bitcoin vs a dollar. Making Bitcoin a necessary commodity for crypto transactions as well as a measuring stick for overall crypto market.
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Good info! Thanks Dan!
 
Ok, now I have to ask. Is there a site where you can make minimal purchases, and what about fees? Anybody help? Might be the first pug on the planet to own some crypto.
 
Pugman1943 said:
Ok, now I have to ask. Is there a site where you can make minimal purchases, and what about fees? Anybody help? Might be the first pug on the planet to own some crypto.
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Not sure on the fees , however if you download the coinbase app , they have a learn and earn thing. How good the app is I don't know but I'll take free. Lol
 
Thanks Nate. I did see that app, but as soon as you fill in ou the internet knows you are alive. That's the part I don't like. Maybe some of our players will chime in. I just want to be careful.
 
Pugman1943 said:
Thanks Nate. I did see that app, but as soon as you fill in ou the internet knows you are alive. That's the part I don't like. Maybe some of our players will chime in. I just want to be careful.
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Coinbase is legit.
 
Coinbase is very expensive. Check out Kraken.com. Binance.US is another good exchange however higher fees and horrible customer service. Kraken nails it all around, and very reputable with regular liquidity audits. From my research, and I've been following crypto daily for the 5+ years, we're about enter another bull market. Just my opinion based upon my own research.

In regards to fees, if you're just buying small amounts and not day trading, then any reputable exchange is fine. The only ones I trust are coinbase, binance and kraken. Kraken being my top choice, then binance then coinbase. Fee's aren't as bad as they sound. For example, a limit order on kraken for a $10k limit order would cost about $17. So if you're day trading and purchased 10k worth of litecoin at $85/coin, you would be buying almost 118 coins. If the price goes up $1 and you sell, you just made $118 minus $17. Price movement on Litecoin for example is about a $10 or more swing daily. BTC can have a price movement of $2,000 or higher. Now you see how day trading crypto is far better than stocks? :D
 
Rod said:
Coinbase is very expensive. Check out Kraken.com. Binance.US is another good exchange however higher fees and horrible customer service. Kraken nails it all around, and very reputable with regular liquidity audits. From my research, and I've been following crypto daily for the 5+ years, we're about enter another bull market. Just my opinion based upon my own research.

In regards to fees, if you're just buying small amounts and not day trading, then any reputable exchange is fine. The only ones I trust are coinbase, binance and kraken. Kraken being my top choice, then binance then coinbase. Fee's aren't as bad as they sound. For example, a limit order on kraken for a $10k limit order would cost about $17. So if you're day trading and purchased 10k worth of litecoin at $85/coin, you would be buying almost 118 coins. If the price goes up $1 and you sell, you just made $118 minus $17. Price movement on Litecoin for example is about a $10 or more swing daily. BTC can have a price movement of $2,000 or higher. Now you see how day trading crypto is far better than stocks? :D
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Price movement of $2000 or higher? $2000 of what, since bitcoin isn’t tied to the dollar?

And honestly I’m still trying to figure this out. I do own a very small small bitcoin stake due to the Coinbase Super Bowl commercial. And for the hell of it I bought a whopping $10 of dogecoin. And I own minor stakes of all rhe “learning” free coin I could get from Coinbase.

All of it has given me nothing but grief from the cpa, because apparently he is concerned about the $30 worth of crypto I could care less about..lmao. Though at one point it was almost $60.

Then again I’m valuing it to usd. Should I be? So confused. :(
 
Correct, bitcoin is not tied to the dollar. You can sell/trade it for anything someone is willing to trade you for it. Most commonly, traders trade bitcoin with the US Dollar on an exchange. Price movements on exchanges can have a $2k more swing within 24 hours. Markets never close, because bitcoin is not on a "market". It's a free and independent "token" currently valued at around $27k.

Think of it like your house. Is your property tied to the dollar? Of course not, however when you go to sell it you're probably going to want dollars in exchange for it, while someone else may want bitcoin in exchange. Bitcoin is considered "property" and is treated as such in the US.
 
CigarStone said:
Looks like you have become the new Kona. Psssssst, I have some awesome land in Florida, $2.2M.

I can't give you a deed, there is no record of our transaction, but you will love the property!

Do you have a boat?
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Found this bit amusing.
 
Rod said:
Correct, bitcoin is not tied to the dollar. You can sell/trade it for anything someone is willing to trade you for it. Most commonly, traders trade bitcoin with the US Dollar on an exchange. Price movements on exchanges can have a $2k more swing within 24 hours. Markets never close, because bitcoin is not on a "market". It's a free and independent "token" currently valued at around $27k.

Think of it like your house. Is your property tied to the dollar? Of course not, however when you go to sell it you're probably going to want dollars in exchange for it, while someone else may want bitcoin in exchange. Bitcoin is considered "property" and is treated as such in the US.
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I like the property analogy. I think that helps a bit, at least to understand how it’s not tied to the dollar.

So essentially it’s a purely speculative move to own it, for purposes of an increase in investment. Just like anything else one might buy. A baseball card, house, car, etc. One hopes that some of these “investments” will pay off with a larger return later on, but there is no guarantee.

The only difference is that I have to hold a special “key” for it, never lose it or my “investment” goes poof. Well actually not poof, but I nor anyone else can ever access it again.

That and I’ll never be able to “hold” or “touch” it. Which is fine, kinda like stock in a company, you never really actually hold it, well maybe way back, but not anymore.

Since this is by and large a “computer program” of sorts (I know that’s too general and probably not very accurate but hear me out), are there any safeguards in place against bad actors, or malware or the like? Is that just up to the exchange that holds it? Or because it’s “decentralized”, if one exchange gets infected, you can access at another?

I guess that might be a wholly different conversation. Really interesting though. Thanks for discussing it with me. I might be starting to understand it a little better. :)
 
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