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Offline Flyin6

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BitCoin
« on: December 13, 2020, 03:35:32 PM »
I think it is time to move into this digital currency system

I have been looking into this for awhile and granted, there is a lot to learn but here are some takeaways from what I have learned

First of all, I think fiat money systems like the dollar are going to collapse. The reasons is that the dollar for example, is already bankrupt. It is only our belief in the system that keeps it functioning. We owe more than we can ever repay as a nation, and that is just a fact. Now if we start talking in terms of the age of the universe, in terms like that, it may be possible to repay the debt this nation owes.

Interest rates are low and in some cases the government pays just to borrow money. I think the writing is on the wall and it is only a matter of time. Survival will require not only a safe place with food and water, but some means to acquire the things we all need.
Our government is already moving toward a socialist system. We now pay vast numbers of people not to work through unemployment and covid relief payments. Many people are getting along quite nicely with what they get for doing nothing believing all the while that this ship will sail on forever. It will not, and suddenly those people will find themselves penniless in a country with depression like job markets.

Technology will drive the nail in the coffin of most of these unskilled people. I was just reading where trucking is the largest employer for most people in most states. Well, driverless trucking is fast approaching as technologies continue to refine the task of driving a truck. Imagine when that comes to fruition. Now you can operate the machine 24 hours a day. No rest stops, no drivers salaries, no paid benefits nor health costs. No retirement plans nor a host of other costs for companies moving freight. The freight companies themselves will become more efficient and profitable while the truckers who lost their jobs will be displaced.

Digital technology is going to take over most things and we are already in the midst of all of that.

Banks will fall apart as crypto currencies not subject to ATM fees or wiring fees, nor monthly maintenance fees start to dominate simply because they afford the user more savings, more control, and more security.

Crypto currencies can in some cases be traded anonymously, keeping prying eyes, be they internet crooks or your government, from knowing your business

For all these reasons and a few hundred more, I feel prudent folks had better jump on this ship before it sails. I look to a future of uncertainty where we must create our own stability, and this just may be a way to do that

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Offline cruizng

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Re: BitCoin
« Reply #1 on: December 14, 2020, 09:28:39 AM »
I have also been looking at Crypto Currency for a while. I haven't put any money into it yet but it has matured a great deal over the past 5 years.

This guy in particular on the tube has quite a few videos on how to set it a wallet and actual use crypto currency.

https://www.youtube.com/c/CryptoDad/videos

You are correct that trucking is trying to go autonomous. I doubt we will see origin to destination fully automated in the next 10-15 years but they are moving the over the road option there the fastest. Similar to the old Yellow Freight days where you had over the road drivers take it to a terminal and the they would break bulk the freight and then deliver last mile or send it on to next terminal. I think you will see autonomous between terminals and then human drivers continue to do the last mile type of load completion. The trucks aren't the issue. It is mixing them with the 4 wheelers that is the biggest challenge. Oh, and they will be all electric too.  :popcorn:
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Offline Flyin6

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Re: BitCoin
« Reply #2 on: December 14, 2020, 09:42:08 AM »
I have also been looking at Crypto Currency for a while. I haven't put any money into it yet but it has matured a great deal over the past 5 years.

This guy in particular on the tube has quite a few videos on how to set it a wallet and actual use crypto currency.

https://www.youtube.com/c/CryptoDad/videos

You are correct that trucking is trying to go autonomous. I doubt we will see origin to destination fully automated in the next 10-15 years but they are moving the over the road option there the fastest. Similar to the old Yellow Freight days where you had over the road drivers take it to a terminal and the they would break bulk the freight and then deliver last mile or send it on to next terminal. I think you will see autonomous between terminals and then human drivers continue to do the last mile type of load completion. The trucks aren't the issue. It is mixing them with the 4 wheelers that is the biggest challenge. Oh, and they will be all electric too.  :popcorn:
And that alone Mike will reshape America profoundly

Another trend we will see more and more is making business transactions point to point and person to person which will kill off a lot of businesses

The taxi industry was both revoulitionized and then killed off by Uber.

Uber will be killed off when this BitCoin "Blockchain" is adapted to where Uber drivers, heck any driver can place himself up for hire and be directly contacted by another needing a ride. Skip the 25% that Uber takes off the top and you'll be able to access all sorts of information about the person you are hiring.

Blockchain technology as outlined in the BitCoin whitepaper will replace many companies.

I think this bitcoin which has a 62% market share will eventually replace currency. It's growth is unbelievable and in a decade or two, we will have an estimated 200,000 new millionaires/billionaires who are those who understood blockchain today.

In the beginning someone offered 10,000 BitCoin for a pizza. Today a single BitCoin is worth  $19,100+

No place in the world has there been growth like that, and all because it is transparent, not linked to any commodity, nor any government. Suggests people prefer freedom over oppressive government and banksters.

Oh and the banksters are screwed too!
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Offline Flyin6

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Re: BitCoin
« Reply #3 on: December 14, 2020, 09:45:47 AM »
So as a learning tool, I am going to set up a BitCoin "operation" here with a $1,000 USD investment. We can then watch what happens with it as we muddle through our own day to day. I'll post up things I learned and those that I screwed up. The goal will be to create a learning platform which can be copied to get others into the crypto world

The ultimate goal is financial security on a ship that is clearly capsizing.
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Offline TexasRedNeck

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Re: BitCoin
« Reply #4 on: December 14, 2020, 05:03:21 PM »
So are you looking to it as an investment or as a mode of payment/transaction?

I don’t know much about it except that it’s based on block chain technology and security.


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Offline Flyin6

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Re: BitCoin
« Reply #5 on: December 15, 2020, 09:41:05 AM »
So are you looking to it as an investment or as a mode of payment/transaction?

I don’t know much about it except that it’s based on block chain technology and security.


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It's a super risky investment but also a good hedge against the dwindling dollar. I am reading where major corporations are pouring into it as the dollar pool continues to be diluted. Forcasts I am seeing show a real deficit of $50T with the guberment printing several $T more this year. I read one forcast which showed the dollar losing stellar value in 2021.
So obviously if one holds his money in actual money he is losing every day without actually realizing it.

BitCoin is rising steadily as more and more money pours into it. And one thing about the original bitcoin is that there are only 21 million of them. I have seen in many places where Bitcoin will replace gold as a standard. Where as I used to read about Bitcoin rising to $100K, I now see smart folks say it will surpass $250K and possibly in just a year. If one can invest now in it, he/she would be wealthy in just a couple years.

Back to the gold thing, that does not rule out precious metals. Gold which is mostly not consumed will maintain value. But Silver will shoot up in price as it is used in manufacturing. Two things which are about to explode its value is 1. Medicine, and 2. Manufacturing. Silver is a natural antibiotic and anti viral agent. That being said with all the new viruses showing up, silver is going to be in need. Secondly, Silver is used in solar panels and in electronics manufacture. Should Biden sleeze his way in or Trump invest money in solar panels to appease the chinese, err, democrats, the demand will increase. SIlver has doubled since I purchased my excavator. (Luckily, I used gold to buy it!) so I keep silver

But Bitcoin will continue to rise rapidly, and most older people are not tech savvy and most young kids who are have no money, so Bitcoin was on a steady rise until the big corporations just showed up to bat. It is set for a meteoric rise.

Oh, and you'll love this. I buy silver from SD Bullion, and yesterday I purchased 200 ounces of it. On the payment page, know what the number one selection to ring up the purchase was?

You guessed it: Bitcoin

I'm only speculating a few thousand into Bitcoin right now, $1000 as a pure investment and the rest for "off grid" purchasing since it requires no middle man but I will jump in to around $10K, which stands a very good chance of being worth $150-$200K in a year.

But, PLEASE, please, PLEASE, do not invest in this because of me or anything I said. Only invest what you can loose and after you do your own research.
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Offline Flyin6

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Re: BitCoin
« Reply #7 on: December 15, 2020, 05:23:57 PM »
So far I set up my wallet, a rather simple affair I chose to setup on my Apple phone. I chose an app available directly from BitCoin.

It is not a one and done affair. There are many layers of security to ser up and verify, so do not expect to just zoom right through it.

The setup involves texting and emailing from/to different devices, doing a facial scan, receiving a secret method to restore your account should you somehow loose it, scanning your drivers license and setting up and responding to messages at your chosen bank. I use USAA and they initially put the kibosh on the proceedings, sending me an alert and even calling me. Once I did and cleared that, I was set up and ready for action.

I made the first purchase of $200 of Bitcoin from my phone. That process uses a service based in Malta and it caused me to have to be proactive through the process. It took perhaps 30 minutes to do all the security related stuff and finally, my wallet posted .00989 Btc. From the $200 I purchased, the service charged me a $15 transaction fee and a $1.29 transfer or some other fee.

This is all beta test stuff for me at this point and I decided earlier to experiment with just $1,000 using various buy techniques to get a feel around the process. Later on in the day, I repeated the buy, purchasing another $200 of Btc. Now, I am purchasing the original Bitcoin and not the newer bitcoin cash currency. I will buy some of that later on, but not after running this around for awhile. The second purchase closed much quicker, start to finish in under 10 minutes with all the security in place. The second time I purchased the price had fallen a little so I was able to buy a little more for the same price.

Next, I plan to purchase $400 of the currency to see of acquisition costs remain the same or increase. I may do this tomorrow. The final purchase I plan to make will be a final $200 and I plan to do that sometime after midnight when the US is mostly asleep and see how that all pans out.

More later...
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Offline Flyin6

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Re: BitCoin
« Reply #8 on: December 16, 2020, 11:17:02 AM »
Update: I have now completed the purchases, a total of four equalling $1,000 of Btc purchased. The fees are fairly regular on my buying platform where I am charged a flat rate of $15 US for each increment of $200. The other smaller fee ranged from a high of $0.79 to a low of $0.08.

The market is steadily rising where the price started around $19,000 a couple days ago and is now trading very near $21,000.

I think I will make small but regular purchases of a couple hundred every once or twice a month or if any windfalls blow in from the west. I will however keep the Btc purchases at what I consider a comfortable ratio of 1:5 over silver with 80% of my investment money going into physical silver and the balance into Btc or another cryptocurrency.

So we will see where this all goes

I purchased 0.04746 Btc for $1,080.51 USD
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Offline Flyin6

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Re: BitCoin
« Reply #9 on: December 17, 2020, 10:21:46 AM »
I won't do this every day but just as an early on activity report, I awoke this morning to a wallet with $1,100 Btc value. So I am up $20 in two days.

I do not expect this to stay here. I do expect it to fluctuate wildly. It is only $1,000, and should it go down to $100, I'll use it to buy a Jeff Ruby steak. But if it should go up to $10,000-$15,000 I'll use it to buy a small herd of Wagyu beef cattle.
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Offline TexasRedNeck

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Re: BitCoin
« Reply #10 on: December 17, 2020, 06:29:30 PM »
OK Don, good info all around.  You got me investigating.

There has been a meteoric rise in the past week or so.  I might be inclined to wait for the inevitable pull back (??) to get it.

Although, now I am looking at the ETFs based on crypto.  No keeping up with wallets,  and all the other hassles.  You can short them and trade them like stock.

Still looking and watching.  May get a bit into the ETFs and see what’s what.  It’s obvious as you have pointed out that a lot of cash is flowing in right now.


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Offline Flyin6

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Re: BitCoin
« Reply #11 on: December 17, 2020, 07:01:56 PM »
OK Don, good info all around.  You got me investigating.

There has been a meteoric rise in the past week or so.  I might be inclined to wait for the inevitable pull back (??) to get it.

Although, now I am looking at the ETFs based on crypto.  No keeping up with wallets,  and all the other hassles.  You can short them and trade them like stock.

Still looking and watching.  May get a bit into the ETFs and see what’s what.  It’s obvious as you have pointed out that a lot of cash is flowing in right now.


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I have read and listened to Kysoki (Butchered his name...Rich dad/poor dad) for years and to Porter Stansbury. Both have an uncanny ability to read the tea leaves and whale bones to accurately call out future trends. Both are super positive on Btc. Sort of like buying apple stock shortly after it debuted.

I have no such pedigree, but hey, I know that the congress has lost control and will try and print their way to the edge of the cliff, then step aside when they announce the US is insolvent and we now have our own crypto. May not happen like that, but your dollar is worth less and less. $200-$300 grocery bills, $75K pickup trucks, $50 a sheet plywood, and lunches approaching $20 are oh so telling.

Like always I only keep but so much in cash.

Oh and I got in with another $1000...Sorree, couldn't resist
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Offline Flyin6

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Re: BitCoin
« Reply #12 on: December 26, 2020, 10:49:06 AM »
An early update/watch of the initial investment

$1080 original purchase price

Btc value today is $25,500

Investment value $1210.23

+12% increase in value. I absolutely do not expect that number to always stay in the black, at least in the short term, however given a year to eighteen months, I would suspect it to show positive gains and forever remain in the plus column.

In full disclosure, I ended up purchasing around $10,000 the first week and plan to go just 2X-3X that amount because it is just a high risk category investment.

Having said that, I am reminded of the motto of the British 2-2 SAS

"Who Dares, Wins"
« Last Edit: December 26, 2020, 10:53:37 AM by Flyin6 »
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Offline Flyin6

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Re: BitCoin
« Reply #13 on: December 30, 2020, 05:19:34 PM »
With the passing of this next HUGE spending bill, Bitcoin has taken off again like a rocket ship

So, looking at the value of this experimental $1000 investment

With procurement costs, I paid $1090.91

Which purchased 0.04746 Btc

Current value 17:15 12302020 is $1,366.51

Increase in value of $275.60 or 25.3%
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Offline Bigdave_185

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Re: BitCoin
« Reply #14 on: December 30, 2020, 07:26:19 PM »
That’s really great. Assuming you stay high.   


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Offline Flyin6

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Re: BitCoin
« Reply #15 on: December 30, 2020, 07:55:40 PM »
That’s really great. Assuming you stay high.   


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It's really blowing up tonight. Just crossed and holding around $29,200ish which pushes that investment to $1385.83...

I fully expect it to fluctuate wildly, however I also expect it to mature into the new gold as more and more people realize printing dollars is decreasing their wealth. Congress is on a spending spree. $600 per American and billions in foreign aid. Now with Bitcoin, at least we can fight against and profit from inflation.
« Last Edit: December 30, 2020, 07:57:45 PM by Flyin6 »
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Offline Flyin6

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Re: BitCoin
« Reply #16 on: January 02, 2021, 10:14:01 AM »
Not my intention to follow this thing hour by hour, but more of a long-term investment.

However there are some correlating moves of this currency that bares mentioning. The thing blasted through the $30,000 roof and shot straight to $31,000 ish where its hovering now. Keep in mind that on this day one year ago it was in the $9,000 range meaning it has more than tripled in just a year.

It tripled in a year when we started under a strong pro business government, albeit, heavily affected by the oncoming Covid. But as uncertainty creeps in, and as dollars are produced from nothing the crypto currencies act in an opposite and equal manner.

That suggests people want security in something while the carpet is being pulled out from under them and nothing but dark clouds loom in the distance. So it seems with each failure of this administration to secure justice, the size of the beast is further revealed. We are potentially looking at an incoming government which will turn democracy, freedom, capitalism, and our very belief systems on their heads and lead us quickly to a very scary place.

With the very little I know of this Crypto and in particular Bit coin, I can see it like a black marble sitting atop a bowl of steamed rice. Bitcoin is seemingly going for the moon. It is the single best crypto out there, and it is getting to be a bit rarified. Please remember that the very last Bitcoin will be created in 2030, and never will another be made. What do you think will happen to its value then, or as the maddening crowd wakes up, late as it usually does? Well, if they can get into the Btc, they will pay exorbitant prices for it, and in its wake buy other cryptos which I suspect will number in the thousands as smart planners prey on the ignorance of the frightened masses.

Our experimental investment

Cost:                 1090.91
Btc purchased:   .04746
Current BTC       $31,372 

Current value:    $1,488.91
Gain/(loss)         $398
Percent              +36.5%

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Offline Flyin6

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Re: BitCoin
« Reply #17 on: January 02, 2021, 10:16:17 AM »
OK Don, good info all around.  You got me investigating.

There has been a meteoric rise in the past week or so.  I might be inclined to wait for the inevitable pull back (??) to get it.

Although, now I am looking at the ETFs based on crypto.  No keeping up with wallets,  and all the other hassles.  You can short them and trade them like stock.

Still looking and watching.  May get a bit into the ETFs and see what’s what.  It’s obvious as you have pointed out that a lot of cash is flowing in right now.


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Two things to take note of here:

1. Direction of the flow of money

2. Velocity of the flow
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Offline Flyin6

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Re: BitCoin
« Reply #18 on: January 05, 2021, 11:37:34 PM »
Possible correlation??

Tomorrow is 6 Jan and all the business that is about to happen in Washington DC

I think we can all agree that uncertainity is the buzz word of the moment

And look what Bitcoin is doing, went through $35,000, and trading at $35,600 at the moment 2330 01052021

Cost:                 $1090.91
Btc purchased:   .04746
Btc value            $35,600
Current value:    $1,689.57

Increase:           $598.66
Percent increase  54.8%     (in just three weeks)

I ended up throwing something around $11,000, so I am pretty happy at the moment, however realize very well it could fall off the Clift at any moment.
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Offline Flyin6

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Re: BitCoin
« Reply #19 on: January 07, 2021, 09:13:03 AM »
This morning, the day after the meltdown at the nation's capital, Btc surged to over $38,000 rising 10% in the past 12 hours.

So here is another demonstration of how the Btc reacts opposite to the stability of the US government and of course the dollar that is linked to the government's health. Americans saw the mass move at Capital hill, the conservatives reacting to the electoral college vote count. Trump who has provided a bounty in terms of growth, security and American power not so quietly slipped away and soon to fill the vacancy is a tsunami of social spending, and who knows what. People went toward the Btc since it is not linked to the health of the US or any government.

Here's the numbers:

Cost:                 $1090.91
Btc purchased:   .04746
Btc value            $38,300
Current value:    $1,817.71

Increase:           $726.80
Percent increase  66.62%
Start date:          15 December, 2020
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Offline Flyin6

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Re: BitCoin
« Reply #20 on: January 08, 2021, 11:53:50 AM »
We are in the beginning or middle or end of an explosive growth in this Bitcoin crypto currency

Those who bought it and everyone else...

Today's numbers:

Cost:                 $1090.91
Btc purchased:   .04746
Btc value            $41,540
Current value:    $1971.48

Increase:           $880.57
Percent increase  80.7%
Start date:          15 December, 2020

I remember reading articles that predicted Btc would hit $50,000 in 2021, which would have doubled your money had you purchased on 15 December, 2020 like we did with this experiment. But there is a pretty good chance it will hit $50K this month. This thing is going to fly. Hard to say but it may grow multiples of $50K in the next 11 months.

I think it will eclipse $1,000,000 for a single coin in just a few years!

And this is real money. I could click a couple buttons and simply buy dollars with it, or goods and services at thousands of businesses. This thing made over $800 from an investment of a a little under $1100 in less than a month.
« Last Edit: January 08, 2021, 11:55:26 AM by Flyin6 »
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Offline TexasRedNeck

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Re: BitCoin
« Reply #21 on: January 08, 2021, 08:49:27 PM »
Just for kicks I got into Greyscale Bitcoin ETF.  Went up significantly in the last 2 weeks and I didnt have to setup a wallet, etc.  It’s an ETF on trading sites so much easier.  Not sure if it will track in a pure linear fashion but I like the ease.


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Offline Flyin6

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Re: BitCoin
« Reply #22 on: January 09, 2021, 12:16:17 PM »
Just for kicks I got into Greyscale Bitcoin ETF.  Went up significantly in the last 2 weeks and I didnt have to setup a wallet, etc.  It’s an ETF on trading sites so much easier.  Not sure if it will track in a pure linear fashion but I like the ease.


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"Danger, Danger Will Robinson!"
To quote Robby the robot
Should the dollar disappear, you gonna be screwed
Crypto dollar, I think, is fast approaching.
So you'll then own a bunch of shares of your ETF redeemable into "Fed-coin" a wholly owned and trackable monetary instrument
Btc, on the udder hand is not
Oh and Btc is just Btc. No middle man siphoning off a percentage of your profit...
food "fer" thought...
« Last Edit: January 09, 2021, 12:17:35 PM by Flyin6 »
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Offline TexasRedNeck

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Re: BitCoin
« Reply #23 on: January 09, 2021, 12:49:17 PM »
All valid points but and easy way to get  some return without all the hassle of wallets and keys


Emp takes out all electronic currency too.

Still need physical assets like Gold and Silver. And ammo and food and weapons. Except I lost all my guns in a tragic boating accident.


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Offline Bob Smith

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Re: BitCoin
« Reply #24 on: January 09, 2021, 04:42:22 PM »
I heard about that terrible boating accident right here on this site. Mine were all stolen when we moved. Such a shame loosing all those isn’t it.

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Re: BitCoin
« Reply #25 on: January 09, 2021, 06:44:24 PM »
Mine were all dropped in an industrial chipper when I became too woke to even consider physical violence any more.  I miss them. 


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Offline stlaser

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Re: BitCoin
« Reply #26 on: January 14, 2021, 07:18:01 AM »
So I’ve been doing my own research on this phenomenon. One big hang up I keep having is that the Fed doesn’t like competition. If you look at history it’s pretty obvious, from gold to other items. Even though the Fed is privately owned they have the muscle of the US government. The other fact is that typically it is illicit money that gets into things that big brother can’t track. Then I wake up to this report this morning and while I’m not exactly correct it appears that the same issue is being brought up with IMF

https://www.zerohedge.com/crypto/ecbs-lagarde-calls-global-regulation-reprehensible-bitcoin
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Offline wyorunner

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BitCoin
« Reply #27 on: January 14, 2021, 06:23:21 PM »
So I’ve been doing my own research on this phenomenon. One big hang up I keep having is that the Fed doesn’t like competition. If you look at history it’s pretty obvious, from gold to other items. Even though the Fed is privately owned they have the muscle of the US government. The other fact is that typically it is illicit money that gets into things that big brother can’t track. Then I wake up to this report this morning and while I’m not exactly correct it appears that the same issue is being brought up with IMF

https://www.zerohedge.com/crypto/ecbs-lagarde-calls-global-regulation-reprehensible-bitcoin
So, this argument by big heads has been on the table since btc went from low hundreds to around 1-2000, before it leveled around 400ish for a little while. Which was some years ago. We’ve been watching, with sadness most of the time because we’ve never been in a comfortable enough position to buy, crypto since there was only a few along side btc. I have bought and sold ethereum a couple times because it was all we could ever afford.

So far, I have not seen any big money laundering scams or drug runners or illicit folks being busted. Not saying it hasn’t happened though.

They use this in hopes to gain public support for the “dangerousness” of crypto. It’s all about control I believe. I’m not saying there is NO illicit use of crypto, but I think it’s less a concern than the big heads want us to believe.

Also, a criminal is going to criminal, no matter what regulations are placed on them, we have seen this all our lives.
« Last Edit: January 14, 2021, 06:51:16 PM by wyorunner »

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Re: BitCoin
« Reply #28 on: January 15, 2021, 12:17:32 PM »
Shawn is correct in my view that this is the enemy of big banks and big government...What, no control??? Preposterous!

Therefore I thing T has characterized the reaction to BitCoin by controllers, err, banksters correctly. Never the less, no matter what banks or nation states or the king of Siam ever does, Bitcoin will still be here. It, seemingly, cannot be destroyed and defies control measures. It is actually more rare than gold and I really think will replace Gold as one of the most valuable things known to man.

On to other things. We've all had a great look at the trading swings of Btc over the past two weeks. Rising as much as 10% in 24 hours to a high of something north of $41,000, it fell to a low of around $31,000. A $10,000 trading range is anything but stable making for some fun (not so fun) shifts of 33%.

I see this as another set of labor pains as this thing wrestles with the traditional authority on earth to take off for the stars. A load more of money printing is about to arrive as we no longer even consider the rising debt and possibly eliminate it altogether in one fail-swoop with the introduction of Fed-Coin. When that happens it will be nothing but smoke and mirrors behind the scenes where the books are adjusted to fit the narrative.
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Re: BitCoin
« Reply #29 on: January 16, 2021, 08:35:35 PM »
Kids today don't know how easy they have it. When I was young, I had to walk 9 feet through shag carpet to change the TV channel.

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Re: BitCoin
« Reply #30 on: January 16, 2021, 08:39:20 PM »
Shawn is correct in my view that this is the enemy of big banks and big government...What, no control??? Preposterous!

Therefore I thing T has characterized the reaction to BitCoin by controllers, err, banksters correctly. Never the less, no matter what banks or nation states or the king of Siam ever does, Bitcoin will still be here. It, seemingly, cannot be destroyed and defies control measures. It is actually more rare than gold and I really think will replace Gold as one of the most valuable things known to man.

On to other things. We've all had a great look at the trading swings of Btc over the past two weeks. Rising as much as 10% in 24 hours to a high of something north of $41,000, it fell to a low of around $31,000. A $10,000 trading range is anything but stable making for some fun (not so fun) shifts of 33%.

I see this as another set of labor pains as this thing wrestles with the traditional authority on earth to take off for the stars. A load more of money printing is about to arrive as we no longer even consider the rising debt and possibly eliminate it altogether in one fail-swoop with the introduction of Fed-Coin. When that happens it will be nothing but smoke and mirrors behind the scenes where the books are adjusted to fit the narrative.

This is where we agree to disagree, they can most certainly crash this system. It is not fail proof.
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Offline wyorunner

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Re: BitCoin
« Reply #31 on: January 16, 2021, 09:32:44 PM »
https://news.yahoo.com/man-says-threw-away-hard-105504676.html


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I seen another one like this but the guy had forgotten his password. His wallet is valued at 236mil. He has two chances left to remember his password.

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Re: BitCoin
« Reply #32 on: February 06, 2021, 10:44:26 AM »
There have been some significant events in the Btc world

From the high of $41,xxx we saw early in January there followed a dip down to around $31,000. A 25% dip is kind of scary for the short term investor, but for the more fortified sort, it was nothing more than another opportunity to study Btc behavior. Now it is back nearing the $41,000 mark once again.

There was pressures from economic issues like the unchecked printing of the US Dollar, and uncertainty from the stolen election/coup, all of which caused the mice to scurry to find refuge. They found that in Silver, gold, and BitCoin.

Up until now, Bitcoin has been propelled upward by a host of jerky forces. From the unrest to the opportunist seeing an easy way to make some quick profit, to the growing popularity from the growing publicity crypto has been gaining. With popularity comes exposure, and at some point the grasshoppers take notice, and thinking winter is about to arrive jumps in just because everyone else did.

All of that is a part of the growth story of BitCoin but none of it is mature. Well on the 4th of February that all changed. A former hedge fund owner turned billionaire Bitcoin guru organized a conference aimed at formalizing the Btc crypto in the world of big banking. A conference was held that was private, invite only where experts talked about the future of this particuliar phenomonea. In attendance were the CEO's, CFO's and deal makers of so many top tier money kingdoms that it staggered the imagination.

This Btc guru presented a plan to mature the currency and bring it mainstream, and to bring it under the control of the biggest bankers on earth. His plan calls for all these huge money magnets to invest from 1/2% to 1% of their holdings into the Crypto. The resulting action which would have to be timed over a few months would have the calculated effect of driving Btc up to around $200,000. Keep in mind it is now around $40,000.

The plan is cleverly laid out to cause the grasshoppers to be enticed to sell their Btc for some huge gains and transfer ownership of said Btc to the world banks. The $200,000 number is one that is calculated to entice most of you to cash out and buy that new F150 and carpet the basement again.

But the plan is indeed, very devious. Once BitCoin hits around $200K and a goodly percentage of it has been collected by the big money people, it suddenly starts to become stable. In the same way that JP Morgan holds something like 600 million ounces of silver in London, owning that much allows them to control the price of the stuff. Once the big banks own a sufficient percentage of BitCoin it will become real money. But not just real money, it will become more rare than Gold! Rarer even than Uranium since the final quantity, 33 million Bitcoin is already known. It is mathematically capped out and written into code and cannot be changed.

This is where the real and controlled growth takes place. At this point Bitcoin is becoming the most valuable thing known to man. It is controlled and safe and never ending. It has been calculated that the following rise will double to $400,000 as retirement fund managers and other secondary money people buy their portion of the rock of Gibraltar.

And you guessed it, BitCoin takes off on yet another ascent into the heavens. Undoubtly BitCoin will easily hit $1,000,000 or more each as the money manipulators push their wealth up toward heights never imagined. The Bitcoin Universe is headed into the hundreds of trillions. In 10-20 years, a third of a quadrillion? Not only possible, but already headed that direction. Nothing will stop it, because big money has now formally taken notice and because, you can't stop it.
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Offline Flyin6

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Re: BitCoin
« Reply #33 on: February 06, 2021, 10:49:50 AM »
I offer as proof to my prediction, the last two days.

The meeting took place on the 3rd-4th of Feb. The following day BitCoin started up. Overnight and into the morning of the 6th, the price is steadily climbing. It will reach a new record high by noon and will likely almost never see anything as low as a measly $40,000 a coin ever again.

Planned fluctuations you wonder? Well, of course, there are still millions of grasshoppers involved in the mix. But the coming cold will kill them off, then the ants will store away in their deep lairs forever more.
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Offline Flyin6

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Re: BitCoin
« Reply #34 on: February 08, 2021, 09:31:54 AM »
It looks like my theory is playing out. The big money get together happened and now just a few days later Btc is pushing higher quickly. Up 14%+ in just the past 12 hours

Our experimental investment

Date purchased:            15 December 2020
Cost:                            $1,090.91
Btc purchased:              .04746
Btc value 1st purchase:  $20,078
Current BTC                  $44,000

Current value:              $2088.24*
Gain/(loss)                   $997.33*
Percent                        +91.4%

* Reflects purchase costs which reduces total gain
« Last Edit: February 08, 2021, 09:42:00 AM by Flyin6 »
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Offline Flyin6

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Re: BitCoin
« Reply #35 on: February 08, 2021, 09:45:47 AM »
Yep, it's happening...

Get in while you can

Morning news: Tesla buys $1.5B of Bitcoin. Will be accepting Btc as payment for its cars.

It's going mainstream before our very eyes!
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Offline Flyin6

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Re: BitCoin
« Reply #36 on: February 08, 2021, 03:57:22 PM »
This was a good time to study the effect that big money will have as they all start buying in. Mr Musk purchased $1.5B of Btc early this morning. When he made his first purchase Btc stood at $39,249. By the time he finished buying, and making the Tesla announcement about an hour later. Btc had risen to $44,339. That is a one hour 12% pop in value. As all markets do, it retracts some afterward, and in the hours since it is trading in the $43,500 range.

That second observation is also important, as it points to not only a higher price level, but some stability holding it in place.

The thing is changing. What used to be a novelty that some grad student cooked up between reefers, is becoming real money. People don't invest hundreds of millions or thousands of millions into faddish novelty. They invest money like that in pillars of salt like railroads, Procter and Gamble, and things like that. They will invest in rocket ships when they have studied the product and clearly see a super strong upside.

Big chunky cash dumps like this is adding cement to thicken and strengthen the mixture.
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Offline stlaser

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Re: BitCoin
« Reply #37 on: February 08, 2021, 04:55:29 PM »
Or tulips......  :tongue:

Jk, hope it works out.  :likebutton:
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Living in the remote north hoping Ken doesn’t bring H up here any time soon…..

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Offline Flyin6

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Re: BitCoin
« Reply #40 on: February 08, 2021, 08:16:23 PM »
https://www.zerohedge.com/markets/herd-coming-novogratz-sees-bitcoin-100000-every-company-buys-it
The 100K call for Btc here is very conservative.

Yes Btc will hit $100K, of course it will. But not only will it hit 100K very soon, but it wall be more stable and more viable as it starts to replace gold and things like that and becomes a part of all major companies and the trillion in 401K's everywhere.

I'll guess we see $100K sometime when it's warm this year, and I'll say I believe it will see $200K before 2022.

There is just no reason and nothing to stop it. About the only thing that could would be if a US led consortium of countries outlawed the thing. But ask yourself, how could they? Janet Yellen has said that Btc is used by criminal elements. OK, yea, sure it is. And dollars aren't? Seen any movies lately? Read any papers or watched any news?

Another reason that Btc will not be made "Illegal" like the mexicans crossing the border used to be before we started awarding them with college educations because they were thirsty and had to walk a couple weeks... With major corporations now investing into Btc, what would the government do? Arrest the corporations? How about all the 401K and IRA money flowing into the Btc? Is the government, any government going to say to 50 million people that they are illegally invested?

Of course not. BitCoin is becoming mainstream. It is a raging bull that will replace Gold as the rarest of the rare "stuff." It is supported literally by the engines of our economy. It can spend like US dollars. It is hard to obtain (like gold). It is finite. What, only 30 million will ever be created, and that's it. So if you are around in 2033 when the last Btc is created, the very next day, what do you think will happen to the value of the thing?

New world, and new train ride. Get your ticket and get on board or stay behind.
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Offline Flyin6

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Re: BitCoin
« Reply #41 on: February 08, 2021, 08:19:51 PM »
Oh, and it hit $47,000 a little while ago and is trading at $46,600 currently.

Apple may get in big
Tesla may get in bigger
All those corporations that attended the Feb 3-4 conference will be buying in the background in smaller chunks to try to remain below the radar. Well, I read that was the plan, but old Mr. Elon jumped into the fire carrying a five gallon can o' gas and blew the whole secrecy thing all to bits. I'd expect a bunch of peeps to get in big and soon. Literally every minute they wait they are losing money.
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Offline Flyin6

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Re: BitCoin
« Reply #42 on: February 09, 2021, 03:59:33 PM »
It went over $48,000 in the wee hours.
Now trading in the mid $47K range
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Offline Flyin6

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Re: BitCoin
« Reply #43 on: February 11, 2021, 09:44:35 AM »
Another update:
The trajectory is still upward. Hitting something a bit over $48,000 we saw a nice pull back into the $44,000 range offering a $4K discount buying opportunity. This is a familiar pattern following a rapid upward surge which is followed by a "What just happened??" moment where the value drops, effectively building in a new base, then like a piece of Styrofoam does when you pull it down in the pool, it rises back to the surface.


Date purchased:            15 December 2020
Cost:                            $1,090.91
Btc purchased:              .04746
Btc value 1st purchase:  $20,078
Current BTC                  $47,939

Current value:              $2,275.18*
Gain/(loss)                   $1,184.27*    That's more than a double!
Percent                        +108.5%

* Reflects purchase costs which reduces total gain
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Offline Flyin6

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Re: BitCoin
« Reply #44 on: February 11, 2021, 09:38:48 PM »
Same day as this morning's post ^^^ It just tickled $49,000 and is trading in the low-mid $48K range

$50K tomorrow??

Any takers?
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Re: BitCoin
« Reply #46 on: February 12, 2021, 10:54:01 AM »
https://www.zerohedge.com/crypto/bitcoin-holds-record-highs-jpmorgan-co-president-admits-well-have-be-involved
Yep this is a fold of hand in this crypto/big bank struggle for supremacy.

No doubt big banks will remain a force to be reckoned with but actual Btc holders now have a say!
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Re: BitCoin
« Reply #48 on: February 16, 2021, 08:54:57 AM »
BitCoin went above $50,000 this morning, and is currently trading in the low $49,000 range

Date purchased:            15 December 2020
Cost:                            $1,090.91
Btc purchased:              .04746
Btc value 1st purchase:  $20,078
Current BTC                  $49,030

Current value:              $2,326.96*
Gain/(loss)                   $1,236.05*    That's more than a double!
Percent                        +113.3%

* Reflects purchase costs which reduces total gain
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Offline Flyin6

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Re: BitCoin
« Reply #49 on: February 17, 2021, 09:07:44 AM »
Currently trading well above $50,000 (Low $51K range)

Date purchased:            15 December 2020
Cost:                            $1,090.91
Btc purchased:              .04746
Btc value 1st purchase:  $20,078
Current BTC                  $51,114

Current value:              $2,425.87*
Gain/(loss)                   $1,134.96*   
Percent of orig value     +222.3%
Increase                      +122.3%

* Reflects purchase costs which reduces total gain
« Last Edit: February 17, 2021, 09:08:42 AM by Flyin6 »
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