Crypto currency

Discussion in 'Business, Investing & Finance' started by Gator By Marriage, Mar 16, 2019.

  1. no1g8r

    no1g8r Bringing Reason to the Masses
    Lifetime Member

    Joined:
    Oct 23, 2017
    Messages:
    1,925
    Oxbucks:
    $3,681
    Ratings:
    +4,204 / -132
    Moonpay, which lets you buy using ApplePay, runs 6.5%, which is too much for me. An ACH bank transfer through Edge is 1%.
     
    • UFHealthGator

      UFHealthGator Well-Known Member
      Lifetime Member

      Joined:
      Nov 12, 2017
      Messages:
      1,218
      Oxbucks:
      $2,726
      Ratings:
      +2,829 / -121
      Binance.US charges 0.1%, and if you pay with bnb, 0.075%. They are not available in all states.
       
    • BMF

      BMF Bad Mother....
      Lifetime Member

      Joined:
      Sep 8, 2014
      Messages:
      17,255
      Oxbucks:
      $20,256
      Ratings:
      +27,634 / -420
    • BMF

      BMF Bad Mother....
      Lifetime Member

      Joined:
      Sep 8, 2014
      Messages:
      17,255
      Oxbucks:
      $20,256
      Ratings:
      +27,634 / -420
      BTC is down 10% today. I'm hoping it gets below $50k again.
       
      • Taco Gratis

        Taco Gratis Well-Known Member

        Joined:
        Jun 2, 2016
        Messages:
        4,865
        Ratings:
        +4,400 / -254
        • UFHealthGator

          UFHealthGator Well-Known Member
          Lifetime Member

          Joined:
          Nov 12, 2017
          Messages:
          1,218
          Oxbucks:
          $2,726
          Ratings:
          +2,829 / -121
          Most ****ed up chart you will ever see. No idea how the federal reserve pretends that inflation will not be a major issue once the velocity of money picks up.


          SmartSelect_20210325-203545_Chrome.jpg
          Source:
          M1 Money Stock (DISCONTINUED)
           
          • Detroitgator

            Detroitgator Well-Known Member
            Lifetime Member

            Joined:
            Jul 15, 2014
            Messages:
            18,268
            Oxbucks:
            $13,022
            Ratings:
            +21,096 / -154
            Yeah, I commented a few weeks ago about them only reporting monthly now... That's all the admission we're going to get
             
          • BMF

            BMF Bad Mother....
            Lifetime Member

            Joined:
            Sep 8, 2014
            Messages:
            17,255
            Oxbucks:
            $20,256
            Ratings:
            +27,634 / -420
            MARA hit $55 today!
             
          • Taco Gratis

            Taco Gratis Well-Known Member

            Joined:
            Jun 2, 2016
            Messages:
            4,865
            Ratings:
            +4,400 / -254
            Well, if we're posting fkd-up charts, maybe we should have a separate thread.

            margin-debt_nominal-gdp.jpg
             
            • Alumni Guy

              Alumni Guy Newbie
              Lifetime Member

              Joined:
              Nov 7, 2015
              Messages:
              1,484
              Oxbucks:
              $2,597
              Ratings:
              +3,664 / -203
              Yikes: I wish that graph extended to 1929
               
              • UFHealthGator

                UFHealthGator Well-Known Member
                Lifetime Member

                Joined:
                Nov 12, 2017
                Messages:
                1,218
                Oxbucks:
                $2,726
                Ratings:
                +2,829 / -121
                • BMF

                  BMF Bad Mother....
                  Lifetime Member

                  Joined:
                  Sep 8, 2014
                  Messages:
                  17,255
                  Oxbucks:
                  $20,256
                  Ratings:
                  +27,634 / -420
                  BTC is under $57K this morning. Is that considered a dip?
                   
                • Alumni Guy

                  Alumni Guy Newbie
                  Lifetime Member

                  Joined:
                  Nov 7, 2015
                  Messages:
                  1,484
                  Oxbucks:
                  $2,597
                  Ratings:
                  +3,664 / -203
                  If you think about that graph it is bananas. It still scares me that so much money is tied up in such an unknown commodity which is literally a string of 1’s and 0’s.

                  You can’t put it in a mattress, can’t physically touch it, has no intrinsic value or “full faith and credit” of a government behind it (whatever that means), and no one knows who to created it.

                  But, if I can make some scratch on it, I’m game.
                   
                • Gatormac2112

                  Gatormac2112 The Voice of Reason
                  Lifetime Member

                  Joined:
                  Sep 7, 2014
                  Messages:
                  1,626
                  Oxbucks:
                  $1,571
                  Ratings:
                  +2,701 / -53
                  I’m with you, unsure what really constitutes a dip with these. Right now I have an alert for if it hits $54k as that’s at least 10% off it’s high.
                   
                  • UFHealthGator

                    UFHealthGator Well-Known Member
                    Lifetime Member

                    Joined:
                    Nov 12, 2017
                    Messages:
                    1,218
                    Oxbucks:
                    $2,726
                    Ratings:
                    +2,829 / -121
                    Well there is A value to it. How much value is up to the free market. There is no revenue, balnce sheet, dividends, but there are some fundamentals that you can look at and point to increasing value. For starters, the bitcoin network is enormous and complex. There is no single entity that leads it, and it is only governed by the algorithm. The hashrate in the bitcoin network is at its highest peak. The higher the hash rate, the more secure the network. The bitcoin network has been up 24/7 since the day of its inception more than 10 years ago. The same can't be said about the Federal reserve system. Our banks like to take holidays on weekends. Settlement of funds can take days on banks, when it takes no more than an hour on Bitcoin network. Your bitcoin can never be debased by infinite printing, apart from what is set in the algorithm to a maximum of 21 million, same cannot be said about fiat. Bitcoin has also survived 10 years + and keeps on going higher, that adds faith into the system.

                    Bitcoin does something much better than being "put in a mattress". More importantly, the fact that you can't touch it makes it the most unique store of value. One mind blowing idea is that you can technically store Bitcoin in your own brain, and no entity on the planet will ever be able to touch it. What I mean is that if you memorize all 24 smart phrase keys, and then wipe out any hardware wallets or paper records of those smart keys, no one on the planet can access that value stored on your bitcoin wallet except you, and you can do that with billions of dollars worth of bitcoin. I am not aware of any single asset out there that can do that.

                    Of course, it probably is not advisable for you to tie so much value to your memory, because if you forget the order of the smart phrases, that bitcoin is gone forever.

                    Again I look at it as another hedge/ asset that you can diversify anywhere between 1-10% of your portfolio depending on your appetite for risk. I am bullish on its future, but it is easy to go down that rabbit hole and hold the bags for years in a bear market.
                     
                    #175 UFHealthGator, Apr 8, 2021
                    Last edited: Apr 8, 2021
                    • Alumni Guy

                      Alumni Guy Newbie
                      Lifetime Member

                      Joined:
                      Nov 7, 2015
                      Messages:
                      1,484
                      Oxbucks:
                      $2,597
                      Ratings:
                      +3,664 / -203
                      Great post

                      I think Bitcoin is a great idea, but just like currency it’s only value is how people value it. Unfortunately, with its fluctuations in value, it can’t be a true currency. So, it’s a tradable asset, like a stock. (Bitcoin was designed to be a currency, but no one will use it as such because you could end up paying $1,000,000 for a Tesla purchased using BC)

                      However, a stock does have intrinsic value: its holder has a contractual right to a share of dividends and equity in the company. A share of stock is backed by cash flow, but Bitcoin is only backed by demand for itself, like currency. (Gold standard notwithstanding)

                      Bitcoin is almost like fungible fine art. Art has no real intrinsic value, other than its demand, and its price fluctuates accordingly.

                      However, unlike art, the value of Bitcoin is uniform and doesn’t vary on artist or condition.

                      It really is fascinating.
                       
                      • UFHealthGator

                        UFHealthGator Well-Known Member
                        Lifetime Member

                        Joined:
                        Nov 12, 2017
                        Messages:
                        1,218
                        Oxbucks:
                        $2,726
                        Ratings:
                        +2,829 / -121
                        Completely agree. It really is not a currency anymore. Just a unique tradable asset.
                         
                        • Detroitgator

                          Detroitgator Well-Known Member
                          Lifetime Member

                          Joined:
                          Jul 15, 2014
                          Messages:
                          18,268
                          Oxbucks:
                          $13,022
                          Ratings:
                          +21,096 / -154
                          Just noticed on my USAA dashboard that USAA will link to Coinbase accounts.
                           
                        • Gatormac2112

                          Gatormac2112 The Voice of Reason
                          Lifetime Member

                          Joined:
                          Sep 7, 2014
                          Messages:
                          1,626
                          Oxbucks:
                          $1,571
                          Ratings:
                          +2,701 / -53
                          Yep. I bought my bitcoin, ethereum, litecoin, xrp all using Coinbase Pro linked to my USAA account.
                           
                          • Egor's Assistant

                            Egor's Assistant Currently Transitioning
                            Lifetime Member

                            Joined:
                            Nov 3, 2017
                            Messages:
                            1,539
                            Oxbucks:
                            $2,814
                            Ratings:
                            +2,334 / -267
                            Anyone interested in the Coinbase IPO coming April 14th, I believe?
                             

                            Share This Page

                            The Box

                            Help

                            You don't have the necessary permissions to use the chat.

                            • About Us

                              Our community sprung up when the Gatorsports message board was shut down in the summer of 2014. We pride ourselves on offering Gator-biased, yet critical discussion among people of all different backgrounds. We are working every day to make sure our community is the best Gator message board you will find.
                            • Like us on Facebook

                            • Buy us a Zima!

                              The management works very hard to make sure the community is running the best software, best designs, and all the other bells and whistles. Care to buy us a non-alcoholic Zima? We'd really appreciate it! Just click the "Donate" tab at the top of the page.