rifflemao
Pugs Not Drugs
Silver Level
Doing well in ripple, cardano ada, and some of litecoin, but got caught up in the ltc fomo so probably break even in that. Good times overall.
pcgnome
Legend
Bronze Level
So on Oct 1st, I said I was making like .46 a day mining bitcoin. Today I made $5.27. The payout on etherium has doubled in the last few weeks. Anybody want to make a prediction when this bubble is going to burst?
nitulbhatia
Legend
Bronze Level
Thoughts on Ethereum, Ripple and Litecoin?
With bitcoin crossing $18000, the other best crypto currencies are Ethereum, ripple and litecoin, still comparitively undervalued. We have bought some ethereum, ripple and litecoin as a long term investment. High risk, but as of now ripple has tripled from our initial buy price. Google has an investment in ripple.
With bitcoin crossing $18000, the other best crypto currencies are Ethereum, ripple and litecoin, still comparitively undervalued. We have bought some ethereum, ripple and litecoin as a long term investment. High risk, but as of now ripple has tripled from our initial buy price. Google has an investment in ripple.
rifflemao
Pugs Not Drugs
Silver Level
Mentioned a fantasy sports coin here: https://www.cardschat.com/forum/sports-60/fantasy-sports-cryptocurrency-no-limit-coin-357273/
E
ekgbeat
Legend
Bronze Level
What is this big news coming up?
The hard thing with XRP (Ripple) is the value proposition and the coins purpose / utility. XRP is made to be a medium for exchange with large institutions (banks) benefiting from these transactions. Meaning they have a vested interest in the XRP pricing staying low, or it doesn't work well for exchanging.
TLDR: XRP is a great coin for what it is designed for. With that said, it should never reach over $100 and $25 is very sporty. It's good for trading, but might not be the best long term investment. Open to hearing more thoughts on XRP though.
E
ekgbeat
Legend
Bronze Level
***News***
So I think I can say that the dooms day BIG Short didn't happen when the CBOE opened their doors to BTC futures. The BTC price has done very well since the futures came out. With that said, CME is opening their doors to BTC futures.
Question: Will the CME cause a bigger BOOM in the BTC price, or will the shorters come out to crash the price.
http://www.bbc.com/news/business-42386893
So I think I can say that the dooms day BIG Short didn't happen when the CBOE opened their doors to BTC futures. The BTC price has done very well since the futures came out. With that said, CME is opening their doors to BTC futures.
Question: Will the CME cause a bigger BOOM in the BTC price, or will the shorters come out to crash the price.
http://www.bbc.com/news/business-42386893
dj11
Legend
Silver Level
Bitcoin for idiots
It wasn't too long ago that I found myself way way behind the curve. I thought I was reasonably intelligent and understanding bitcoin would be easy.
It actually isn't all that complicated, but there were several things I had to convince myself of before I took the plunge.
[A little preface is necessary]
The first was my notion of value. I grew up in a cash world and had to learn about credit when it because easy in the 70's. Prior to that credit was not easy! It was not standardized in almost any sense of the word.
So having cash in hand is having something we all accept has value. It spends the easiest of all mediums of exchange, still easier than credit cards. Having a good credit line has value to you, but it has more value to the folks you have debt obligations to. Your credit has a lot of future value to others.
OK, so I accepted that Credit was almost as good as cash in hand.
Then bitcoin came along and I found myself needing to understand why it has value. Read a bunch of stuff on just what 'value' is and what it means. Also read all about money and its history as a medium of exchange.
Remember that all mediums of exchange trace their roots back to the barter system, which at its most basic is just a tit for tat, or I'll do something for you if you do something for me, or I want this, and I'll trade some other this for it.
The barter system worked fine for eons. But it's problems were that sometimes what you wanted wasn't available right then, or you didn't need the carpenter to build you another house. So tokens (think broadly here) were substituted for some unit of value that was agreed on by all parties in a variety of deals.
Blah blah blah (history of money is actually not that exciting) and we discover a lot of way for these 'mediums of exchange' to fail. And they failed a lot!. It wasn't till the 20th century that any sense of true stability arose.
Primarily thru the ages precious metals (gold, silver, copper, bronze, etc) were the portable means of money. There were lots of other things that worked as the tokens of exchange, most failed.
Interesting fact; Paper money wasn't a known thing until after the New World was discovered by Northern Europeans.
In the meantime 'notes' came along, and they are nothing more than promises to do such and such in exchange for this or that'.
They have value because people believed in those promises.
There really is NO thing on this planet that has ultimate value! Gold only has the value you are willing to ascribe to it.
Value for all things will fluctuate according to need.
more blah blah blah and we end up with the US dollar being the closest thing on this planet to something that has a stable transportable value. You can be a skeptical as you want but that is a fact. Carefully crafted monetary policies hammered out over the last 300 or so years, has left the state of world's finances in the hands of those who control the printing of the US Dollar.
Don't get all paranoid, about that, it works, and probably should require about the same crain commitment as you give to wanting to know how your meat really gets to your table.
OK, so we trust that the USD has value, and credit has value. How do we know that bitcoin has value?
It has value because it can do stuff that the other mediums of exchange can't do, or won't do.
Since you are reading this here, at a poker forum, you may not understand bitcoin. While I wondered that a month ago, I now realize I don't really need to understand everything about bitcoin.
[End of that preface]
If you are willing to accept bitcoin for something and someone else is willing to give you bitcoin for something, then it has value. It really is that simple. It has value to both of you.
By now I assume everyone knows it is a digital thing. There are a zillion articles you can find about the mechanics of how it got to where it is and google is your friend.
It wasn't too long ago that I found myself way way behind the curve. I thought I was reasonably intelligent and understanding bitcoin would be easy.
It actually isn't all that complicated, but there were several things I had to convince myself of before I took the plunge.
[A little preface is necessary]
The first was my notion of value. I grew up in a cash world and had to learn about credit when it because easy in the 70's. Prior to that credit was not easy! It was not standardized in almost any sense of the word.
So having cash in hand is having something we all accept has value. It spends the easiest of all mediums of exchange, still easier than credit cards. Having a good credit line has value to you, but it has more value to the folks you have debt obligations to. Your credit has a lot of future value to others.
OK, so I accepted that Credit was almost as good as cash in hand.
Then bitcoin came along and I found myself needing to understand why it has value. Read a bunch of stuff on just what 'value' is and what it means. Also read all about money and its history as a medium of exchange.
Remember that all mediums of exchange trace their roots back to the barter system, which at its most basic is just a tit for tat, or I'll do something for you if you do something for me, or I want this, and I'll trade some other this for it.
The barter system worked fine for eons. But it's problems were that sometimes what you wanted wasn't available right then, or you didn't need the carpenter to build you another house. So tokens (think broadly here) were substituted for some unit of value that was agreed on by all parties in a variety of deals.
Blah blah blah (history of money is actually not that exciting) and we discover a lot of way for these 'mediums of exchange' to fail. And they failed a lot!. It wasn't till the 20th century that any sense of true stability arose.
Primarily thru the ages precious metals (gold, silver, copper, bronze, etc) were the portable means of money. There were lots of other things that worked as the tokens of exchange, most failed.
Interesting fact; Paper money wasn't a known thing until after the New World was discovered by Northern Europeans.
In the meantime 'notes' came along, and they are nothing more than promises to do such and such in exchange for this or that'.
They have value because people believed in those promises.
There really is NO thing on this planet that has ultimate value! Gold only has the value you are willing to ascribe to it.
Value for all things will fluctuate according to need.
more blah blah blah and we end up with the US dollar being the closest thing on this planet to something that has a stable transportable value. You can be a skeptical as you want but that is a fact. Carefully crafted monetary policies hammered out over the last 300 or so years, has left the state of world's finances in the hands of those who control the printing of the US Dollar.
Don't get all paranoid, about that, it works, and probably should require about the same crain commitment as you give to wanting to know how your meat really gets to your table.
OK, so we trust that the USD has value, and credit has value. How do we know that bitcoin has value?
It has value because it can do stuff that the other mediums of exchange can't do, or won't do.
Since you are reading this here, at a poker forum, you may not understand bitcoin. While I wondered that a month ago, I now realize I don't really need to understand everything about bitcoin.
[End of that preface]
If you are willing to accept bitcoin for something and someone else is willing to give you bitcoin for something, then it has value. It really is that simple. It has value to both of you.
By now I assume everyone knows it is a digital thing. There are a zillion articles you can find about the mechanics of how it got to where it is and google is your friend.
dj11
Legend
Silver Level
So, a couple of weeks ago I opened a bitcoin account. Without letting it intrude to much on my privacy. I then withdrew $50 from one of the poker sites via bitcoin to that account.
WaLa!, I have bitcoin! It took a few days, and while at first that concerned me, I still got that far faster than any other withdraw method I've ever used, and I was in the game before Black Friday or the UIGEA was in effect.
The Liquor store on my corner has a Bitcoin ATM, and I could if I wanted make a transfer there and get cash in hand.
Instead I am planning on using my bitcoin for a lot of things before I convert it to cash.
Note here that I have still not linked bitcoin, in any way, to my bank info. I am not sure I want to either. Nor need to.
First thing I did was try to fund a account at a different site where I had no funds. I made a typo and screwed it up and instead of sending $50 (bitcoin) I sent $5, and after fees that blew my mind, I ended up with a balance of $1.36. The fees were more than the deposit.
Lesson learned.
I am sort of ignoring the fact that in the 2 weeks I've had these (miniscule parts of a) bitcoin, the value in USD has increased about 50%. This is not about the investment possibilities.
WaLa!, I have bitcoin! It took a few days, and while at first that concerned me, I still got that far faster than any other withdraw method I've ever used, and I was in the game before Black Friday or the UIGEA was in effect.
The Liquor store on my corner has a Bitcoin ATM, and I could if I wanted make a transfer there and get cash in hand.
Instead I am planning on using my bitcoin for a lot of things before I convert it to cash.
Note here that I have still not linked bitcoin, in any way, to my bank info. I am not sure I want to either. Nor need to.
First thing I did was try to fund a account at a different site where I had no funds. I made a typo and screwed it up and instead of sending $50 (bitcoin) I sent $5, and after fees that blew my mind, I ended up with a balance of $1.36. The fees were more than the deposit.
Lesson learned.
I am sort of ignoring the fact that in the 2 weeks I've had these (miniscule parts of a) bitcoin, the value in USD has increased about 50%. This is not about the investment possibilities.
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Putin545
Rock Star
Bronze Level
MMM - without problems
https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)
https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)
Bev
Legend
Bronze Level
what website did you use to buy your bitcoin ?
Bev
Legend
Bronze Level
thank-you , I will be looking into this.
A
AlexTheOwl
Visionary
Silver Level
It's been my experience that fees for transactions of hundreds of dollars are only slightly higher than the fees for small amounts.
I've been using bitcoin for withdrawals for a while now, but I sell it straight to my bank account from Coinbase after I receive it. It's pretty easy.
I don't know if bitcoin will increase or decrease in value. If I knew then what I knew now I'd obviously have kept the bitcoin. But nothing continues to skyrocket in value forever, and I'm not going to pretend to know whether it has reached a peak.
So if you aren't putting it in the bank, you aren't using it all to deposit on another poker site, and you aren't keeping it as an investment, what are you doing with it?
dj11
Legend
Silver Level
Truly, I'm just figuring out how to use it. Most likely I will use it to deposit at BOL/SB just so I can withdraw from both of them 'at will' Then perhaps open a few new accounts. ignition and Merge (just for the HORSE games).
Since I have a pretty good track record as far as BRM goes, I am not worried I will overdraw, but having a fast refresh to each of my sites, while keeping much if not most of my online poker money in bitcoin does offer some interesting upside opportunities.
One of those upside possibilities is being able to play some bigger games without upsetting my whole bankroll.
I have the chops to play bigger games, just not the bucks.