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Author Topic: Using Bitcoin  (Read 5831 times)

preppoker

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Re: Using Bitcoin
« Reply #30 on: November 19, 2017, 03:14:01 PM »
Sorry guys, we're already oversubscribed. 

Currently just have a corp # but will be called MewnMiningCorp at some point in the near future. 


The Loose Goose

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Re: Using Bitcoin
« Reply #31 on: November 21, 2017, 04:46:15 PM »
Agreed that Bitcoin was never intended for micro payments, from how it's reward system is setup to the rigidness of 256Sha.  However, I don't know if we really understand the potential of the off chain solutions to come.  Long-term yes, if I had to say one way or another, I'd bet against BTC for this, but I think we are a ways off from having any solution embraced by masses, trust and market penetration takes time. 

In the meantime, BTC likely scales to larger ticket item transactions such as houses, cars, and so on at the consumer level.  And, will continue its charge as a store of value to who knows, an eventual currency reserve replacement for the US dollar?  Not suggesting this will happen, just that is possible.

I don't really understand the linking blockchain comment.  Btc through atomic swaps will be able to do this (perhaps more limiting or inefficient than other project potential?).  But, comes back to the same thing, why will that be important?  That precludes the need for a shit ton of blockchains for that to be of value. When the smoke clears we may simply have a few tokenized blockchains serving a few purposes: inflationary, deflationary, and reward, for example.  All products and service functions will be built on these main chains, developers will expand on them and the now perceived 'niches' will be cobbled up because of the network externality effect is most important > nobody uses your network its worth shit.  I mean there is a reason M/A and consolidation keeps growing in the real world. 

Guess the new and greatest will keep stepping up and eventually something paves the way.  Will need a lot more than fast and cheap like Doge.

Regarding the comment about Africa, South America, and Asia, market acceptance for a micro payments structure will be quick there.  Many 3rd world countries don't have banking structure, but they all have cell phones.  Transacting on a phone using biometrics and other security makes more sense than humping around cash waiting to get robbed.  Look at OMG.  It has made some serious inroads in some rather impoverished regions of Asia.

Anyway, enjoy the comments, feel free to critique, I enjoy other's viewpoints.  Don't think anyone really has a full handle on this space, most of all me.




The Loose Goose

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Re: Using Bitcoin
« Reply #32 on: November 26, 2017, 07:56:46 AM »
Hey Guys,

A little bit of a long shot but wanted to use this vessel to see if there were any skills out there that might be interested in looking at a possible biz opportunity.

I feel that 2018 will be a great opportunity for 'speculative mining'.

Speculative mining means mining coins in their infancy, with hope that at a future date they will be worth a lot more.  Picking the future winners amongst the heaps of new 'startup coins' is not an easy task.  After all, 95% of the new coin offerings will not go anywhere.  One must assess the value of the tech (blockchain replication > does it work as suggested?), the coin structure (Pre-mine vs public float), use case (including competitor analysis - legacy/other coins, barriers to entry and so on), HR team behind it, most importantly the developer team, the size of the network in its current form (transactions per second?), hype through marketing channels as so on  This requires putting together a list of screeners and match them against each other to see what has the best shot.  Then one must look at the POW (proof of work), how is the mining reward system setup?  Factor things like Master Node incentives, airdrops and so on. 

If you can pinpoint good projects with a profitable mining structure, the idea is you mine it, hold it, and sell to the markets on exchange at the proper time. 

Because you are inventorizing coins for a period of time, actual operational costs will have to be funded out of pocket until such time you sell coins for profit.  This goes against most mining enterprises that simply off load price volatility and sell at first change, use those funds to grow operations.  I could ensure this latter part isn't an issue and can provide the trading skills to provide a leg up.

I'm looking for a full stack lead developer who has or has access to the following:

UI and UX Designer
Reverse Engineer
Open Cl/CUDA developer
+ backend developer
and in an ideal world Bitcoin/Eth developing experience

Bit of a tall order, but even without crypto experience, this pooled skill set could spend some time learning this space, including properly break apart the mining operational requirements/risks and so on and could develop what I think is a very profitable business.

If you are or know anyone who may be interested have them PM me. 

Cheers

preppoker

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Re: Using Bitcoin
« Reply #33 on: November 27, 2017, 09:32:58 PM »
We explored this route and it's simply just one of the least profitable, highly volatile ways of mining.  The space is changing way too fast so having someone evaluate and determine which coins have potential growth but may have lower mining rewards is going to be damn near impossible and you'll never grow to be big enough to where you can influence that coins market. 

You're better off taking a developed coin hopping and pool hopping algorithm , applying some basic trading practices and then firing a large portion into ICOs and getting giant token bonuses.  At least with the latter you'll have some influence on things like hard cap for the raise( if you're firing big enough ) and potential to be on some advisory boards and potential for other ICOs to approach you to mine their tokens. 

Believe me when I say we've run ALL the different scenarios with different reinvestment strategies, growth potential, exit strategies etc. 

Also probably way better to just out source any development work you're going to do. 

krampster

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Re: Using Bitcoin
« Reply #34 on: December 11, 2017, 01:35:48 PM »
Been putting some money into litecoin lately. It?s just starting to spike. From what I?ve read this is a good long term buy and hold
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EEZEE

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Re: Using Bitcoin
« Reply #35 on: January 31, 2018, 11:32:15 PM »
Interested to hear from Joe and Pat regarding the outscope of 2018 given the Bull December and Bear January

GroovyT

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Re: Using Bitcoin
« Reply #36 on: February 01, 2018, 06:14:55 PM »
I'm interested to hear an update too.  Good info here.  I'm been looking all over YouTube and wow there is a lot of garbage.  I know nothing but can tell it's garbage.

What would your suggestions be if you're just hopping in now? I basically get it.  I have the accounts I need almost setup.  Pretty fascinating.  Interested to hear what you guys have to say and appreciate any info.

Do you think there is any validity in the concerns over Tether right now and it potentially dipping the entire market soon?
« Last Edit: February 01, 2018, 06:46:17 PM by GroovyT »

The Loose Goose

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Re: Using Bitcoin
« Reply #37 on: February 02, 2018, 02:55:00 AM »
Well I think its the ebb and flow of financial markets.  Take a major index like the S&P 500 and scale out to the last 25 years on monthly candles.  You see rise, fall, and rise again.  Bitcoin and crypto for that matter follow the same cycles, just way, way faster.  Bitcoin ripped up insanely fast, basically from 5400 to 19500 in a month.  So now its 'dead' because its retraced most of that move.  Right.

There is a ton of garbage floating around, most of which comes from mainstream media but social like twitter are equally dumb.  In my opinion, there really hasn't been a significant event that has taken place to cause true panic.  I think something to keep in mind is this is the first widespread financial asset that retail investors were able to get in before big institutions.  Institutions don't like to buy tops so the best thing they can do is use there influence (government and media included) to create fear to cause retail investors to sell their positions.  The crying is starting to intensify, which is a good sign that we might be coming to the end of this correction.  There are a lot of charting reasons to suggest we should hit the bottom in the 7,500 to 8k, but of course you never know what it's actually going to do.  Personally, I found this correction deeper and longer than I expected.  Don't worry, once Btc is in full pump mode again, Bloomberg and CNBC will be talking about 1M bitcoins again.

In my opinion, the tech is as good as it's ever been.  Lightning network is operating on the mainnet and is progressing better than expected.  I believe the next Bitcoin pump will be hyped around it's adoption.  The way I see it is big players will create Lightning factories (layer 3) on top of the lightning network (layer 2).  These factory networks will have scaling advantages but I'd rather not get into.  Anyway, imo its very bullish because this could cure the complaint that btc can't be used for payments, fast and cheap.

What's happening with price right now is predictably seasonal, although it's never always the same, that would be too easy.  When institutions are setup long, I'd imagine we start the climb back up, to new highs.  I hate spitting out numbers but a 50k bitcoin at sometime this year makes sense to me.  First though, I think altcoins get their run.  We saw some increases in Mid Nov to Early Jan that have since stalled.  I believe this was the warmup.  Etherium looks like it's leading the charge and will likely overtake Btc momentarily in marketcap.  The peak of its pump will probably time with the release of Casper.

I wouldn't get too attached to altcoins though if you decide to buy/trade them.  The season won't last too long, maybe end May or early June??   Once the majority of coins have done their full market cycle pump (like Xrp and Xlm did recently), that marketcap will pile back into Btc.  If this is something that interests you, you have to pay attention to the graphs.  Coins like XRP, XLM, and a few others have already done their move for the year imo. 

It's all a game at this point.  Highly manipulated and without much regulation or objective 3rd party information source to help you filter out all the noise.  The one thing that's clear to me is crypto is here to stay and as a whole will continue to grow exponentially year by year.

Regarding tether.  I mean the subpoena stuff is nonsense.  No jurisdictional authority and so on.  There is a true concern would be if tether truly isn't backed 1/1 with usd.  If this was the case and there was a bank run that couldn't be paid out, ouch.  That would be a setback for crypto.  Many traders/investors use this coin to fend off price volatility without having to get money into banks (timing and maybe privacy inefficiencies as well as cost factors like cap gains tax. 

There are some interesting stats around the timing of the new issues.  As well, if Bitfinex was having exchange off ramping issues with banking, how did they procure 2b worth of backed tether?  The source would be the same.

Having said all that, I can't say why, but I am close with someone involved at the corporate level, he says its all nonsense and they have their reasons for not divulging the banks and amounts to the public.  Gives me some hope because he shouldn't be lying to me (long story why).

So, if you are not yet in, buying btc imo at around the 8k range has to be considered a good thing.  In general, do the opposite of what the media and everyone around you says 'buy when they cry, sell when they yell' .. my 2cents

preppoker

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Re: Using Bitcoin
« Reply #38 on: February 03, 2018, 05:08:47 PM »
Joe pretty much hits it bang on.  Although I think the flow of money is a little different and I think we see a BTC pump before ALT season again. Also don't know if I agree with the flippening happening but it very well could. 

Being in Australia recently I'm seeing way more time fluctuations to the market and with some TA and understanding the cycles I think there's still a decent amount of money to be made in just trading. 

Also bitmex about to open up margin trading for NEO   :D :D :D :D.

In general , not worried.  This is a little low undoubtedly but it's a huge amount of market manipulation.  What I hope it doesn't do is fend off people from entering the market because some people bought BTC above 10k or w/e.


EEZEE

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Re: Using Bitcoin
« Reply #39 on: February 07, 2018, 01:43:08 AM »
I do appreciate the insight.  I'm still fairly new and alway trying to learn but it's tough to siphon thru the shit on social media (where I am always looking).   Def think it's here to stay as well - but we missed the easy moon of 2017 and will probably take quite a long while to head back up to all time highs.  I can't see it going up big time until the public can jump in with ease and actually make some purchases with their crypto. And from what I've seen that is like 2-3 conservative years away.

Reidson

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Re: Using Bitcoin
« Reply #40 on: February 07, 2018, 09:19:33 PM »
Few other hot points lately

1) The 2 most precious assets over the next 50 years will be land and water

2) The world will become more and more digital and self-serving

3) For anyone working, don't bank on OAS pr CPP existing in Canada in 30-40yrs

4) North America is 20 years behind innovation in many sectors

5) International Trade will create more prospects with emerging markets, those are the spots capital is being dumped into right now


Sumbuddeeeeeeee......Hwelp!

preppoker

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Re: Using Bitcoin
« Reply #41 on: February 09, 2018, 07:53:56 AM »
Someone get this man on CNBC, he'd be a super nice follow up to the how to buy ripple $XRP segment they had when ripple was above $3.50

The Loose Goose

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Re: Using Bitcoin
« Reply #42 on: February 09, 2018, 08:43:36 AM »
Can't disagree with any of the points Reidson made.

As for Eezee, I can't help but disagree.

Crypto doesn't need to act as a means of payment settlements for there to be a significant uptick in price.  Hate to keep going back to store of value but .. a few reference points to keep in mind:
-Upwards of 20T is held in offshore banking
-Marketcap of gold is 6-8T depending on who you ask and time of year. 
-Could be witnessing the beginning of a stock market correction, which could also act as a catalyze to some recessionary times
-The active participation in Crytpo is estimated at no more than 1% global

That aside, we might start seeing a payment structure that works in less than 2-3 years, hard to predict how fast the tech will evolve but it appears to be picking up speed due to increased participation in it's development.

Time will tell.


EEZEE

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Re: Using Bitcoin
« Reply #43 on: April 15, 2018, 03:49:24 PM »
Let's hear some updates on the landscape from the geniuses

krampster

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Re: Using Bitcoin
« Reply #44 on: April 17, 2018, 06:45:29 AM »
I couldn?t agree more. I?m very curious when bitcoin will make another bull run.
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