Anyone here day trade Cryptocurrency?

I’m a cranky person who often reflexively gravitates towards “the old ways are the best,” and that’s certainly why I’m skeptical about crypto unnecessarily reinventing the wheel but with higher costs, more complexity, and greater downside.

That said, I think the perilous situation here is that these currencies are competing with currencies explicitly or implicitly backed by nations with regulatory authority and military-economic power. Seems like if they “succeed” too hard, they can be easily done away with or driven underground.

And nevermind the grim dystopian implications of a world where people choose corporate factions to root/fight/die for in some kind of tech bro currency war. If only people spent this kind of time an energy imagining an end to capitalism and less time cooking up financial sector Beanie Babies.
 
Peen Simmons said:
I’m a cranky person who often reflexively gravitates towards “the old ways are the best,” and that’s certainly why I’m skeptical about crypto unnecessarily reinventing the wheel but with higher costs, more complexity, and greater downside.

That said, I think the perilous situation here is that these currencies are competing with currencies explicitly or implicitly backed by nations with regulatory authority and military-economic power. Seems like if they “succeed” too hard, they can be easily done away with or driven underground.

And nevermind the grim dystopian implications of a world where people choose corporate factions to root/fight/die for in some kind of tech bro currency war. If only people spent this kind of time an energy imagining an end to capitalism and less time cooking up financial sector Beanie Babies.
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if they ended capatalism though we would all be living in a free society with fgree healthcare, free education, and free weed....who wants that?
 
DdBob said:
if they ended capatalism though we would all be living in a free society with fgree healthcare, free education, and free weed....who wants that?
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Most of the civilised world has free health care and they're all Capitalists.
 
jbj said:
I'm sure our Russian and Chinese capitalist brothers disagree.
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they can disagree all they want but mericuh is the pinnacle of capitalists we wrote the book, we perfected how to sell it to the citizens. it is a well oiled machine. Does the russian and chinese population buy into the capitalist dream? hell even the lowly Wal mart employee in mericuh still beleieves if they can one day own a business and "be their own boss"
 
smorgdonkey said:
This one is an interesting one. The company called Ripple has a long history for a crypto company. Its coin or currency is XRP. Do a little reading about it and maybe watch a video or three...DON'T pay attention to any of the people saying that it will go to $10,000. There are 100 Billion XRP in existence. In order to go to $10G the market cap would reach $1 quadrillion. Just not possible. Anyway, to the pertinent stuff.

The Securities Exchange Commission has had a case against them for quite some time now and it seems to be getting closer to being settled. Many feel like Ripple will win but they also feel that XRP's appreciation has been stifled/muted/killed for a very long time because of this case hanging over the company so if the case goes in favor of Ripple, the price could take a major jump.

Don't buy based on just what I have said here, this is just scratching the surface. It would be great if you read a little about it and decided from that. Informed people think that if they win the case it could jump to $12 or so...maybe $20 if it goes crazy. Idiots on YouTube seem to think $10G and $100G are possible but I think that thy are just people who like to get views on their videos by saying outrageous things.

Full disclosure: I bought some XRP for $0.44 Canadian back when I first bought Bitcoin. I picked up a little more recently because I had some $ in an exchange account.
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I put a little in to this the other week after reading your post and doing a bit of reading. Made some nice gains already.

That's the wedding bookings starting to come back in :thu: so I've picked up some more Ripple and Ethereum this morning.

So far I'm pretty pleased with the whole thing. Getting plenty of pelters from my pals who think it's all snake oil but whatever.

I'm thinking of setting up ongoing to match what I was paying in my student loan and car payments - half going to my student loan, half going to my pension. The mortgage and DJ money can then go in to my normal savings / fun money.
 
jbj said:
I put a little in to this the other week after reading your post and doing a bit of reading. Made some nice gains already.

That's the wedding bookings starting to come back in :thu: so I've picked up some more Ripple and Ethereum this morning.

So far I'm pretty pleased with the whole thing. Getting plenty of pelters from my pals who think it's all snake oil but whatever.

I'm thinking of setting up ongoing to match what I was paying in my student loan and car payments - half going to my student loan, half going to my pension. The mortgage and DJ money can then go in to my normal savings / fun money.
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where does the money come in for the hottub, weed and pints :embarrassed:
 
The price of a currency called cumrocket coins, AKA cummies, intended for paying adult content creators, has surged 350% because of some cryptic comment Elon Musk made. This is like 1999 when people would pour their money into any stupid tech stock that popped up on the CNBC chyron.
 
jbj said:
You mean hot tube, wine and pints I assume? :embarrassed:

And now I've realised I don't havexa bottle in the fridge for tonight's session :facepalm:
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that's because you've been stydying the crypto stocks bro....you need to get your priorities in line and get the bottles and greens FIRST an d then you can study the crypto :idea:
 
jp_nyc said:
The price of a currency called cumrocket coins, AKA cummies, intended for paying adult content creators, has surged 350% because of some cryptic comment Elon Musk made. This is like 1999 when people would pour their money into any stupid tech stock that popped up on the CNBC chyron.
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Cummies to the moon :chow:
 
jbj said:
I put a little in to this the other week after reading your post and doing a bit of reading. Made some nice gains already.

That's the wedding bookings starting to come back in :thu: so I've picked up some more Ripple and Ethereum this morning.

So far I'm pretty pleased with the whole thing. Getting plenty of pelters from my pals who think it's all snake oil but whatever.

I'm thinking of setting up ongoing to match what I was paying in my student loan and car payments - half going to my student loan, half going to my pension. The mortgage and DJ money can then go in to my normal savings / fun money.
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It always seems better when one has a thought out plan in place.

I always reiterate that the short term gains can disappear fast. The crux of this one is the SEC case and/or settlement.


And Elon Musk...my opinion of that narcissist whack-job continues to plummet.

Bitcoin can be shown to be 40 times more efficient than a regular company.
 
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