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Cryptocurrencies Part II - No more forks for you

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Gardner McKay

Gardner McKay

RIP, Jimmy.
Jun 27, 2007
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SoutheastOfDisorder
PK Cronin said:
Do you guys know anything about New York Coin? I've never heard of it and my dad just texted me about it, which usually means it's not worth anything since he doesn't understand computers.
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Supply of 132 Billion coins. My webroot software won't even let me access the website telling me there is malicious code somewhere. I personally wouldn't touch it with a 10 foot pole.
 
PK Cronin

PK Cronin

Bailey Fan Club Prez
Feb 11, 2013
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Gardner McKay said:
Supply of 132 Billion coins. My webroot software won't even let me access the website telling me there is malicious code somewhere. I personally wouldn't touch it with a 10 foot pole.
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It's one of those, "I heard about from a guy at work who has an inside source" types of deals so I was pretty confident it was nonsense. Figured you guys would be the best to ask. I appreciate you taking a look into it.
 
Gardner McKay

Gardner McKay

RIP, Jimmy.
Jun 27, 2007
25,628
14,351
SoutheastOfDisorder
PK Cronin said:
It's one of those, "I heard about from a guy at work who has an inside source" types of deals so I was pretty confident it was nonsense. Figured you guys would be the best to ask. I appreciate you taking a look into it.
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Sure. It doesn't have much volume (although that isn't always indicative of a projects potential). It is tough to really gauge without being able to access their website. But with 132 billion coins in circulation the odds of it ever being higher than sub penny are very slim IMO.
 
YNWA14

YNWA14

Onbreekbaar
Dec 29, 2010
34,543
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There's, as always, a lot of factors. 6 months ago Bitcoin was under $3,000. Just for some perspective:

pYJZJCXoeMt3GRueq6BB8f8wvPesYe1jOmD5rBDPhEk.jpg


This isn't the first crash (not even the first crash of 2018!) and it's likely not going to be the last. Let's just hope it's not going to be 13/15 again. I think maybe the important thing to remember is that in the grand scheme of things this is still extremely early in the game and there's a lot of good companies getting involved. The tech is good, it's just a matter of how everything is going to move forward.
 
Gardner McKay

Gardner McKay

RIP, Jimmy.
Jun 27, 2007
25,628
14,351
SoutheastOfDisorder
ScottishCanuck said:
It annoys me that has a market cap over 20x higher than a coin I'm holding with a legit team and project.
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Ditto. I guess that is where the HODL mentality came into play lol.

Emily said:
K guys, seriously. What the ****?
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I'm guessing its the news of google banning crypto ads. It really isn't a big deal but people love to overreact to small things.

Kestrel said:
I'm assuming we're expecting a crypto rebound, at least for Bitcoin and Ether, and select others? It's just a question of when?
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I'm expecting a full market rebound but yes, it is a question of when.

YNWA14 said:
There's, as always, a lot of factors. 6 months ago Bitcoin was under $3,000. Just for some perspective:

pYJZJCXoeMt3GRueq6BB8f8wvPesYe1jOmD5rBDPhEk.jpg


This isn't the first crash (not even the first crash of 2018!) and it's likely not going to be the last. Let's just hope it's not going to be 13/15 again. I think maybe the important thing to remember is that in the grand scheme of things this is still extremely early in the game and there's a lot of good companies getting involved. The tech is good, it's just a matter of how everything is going to move forward.
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It is still very early. You are correct. We could be at a 2 trillion dollar market cap by the end of this year or still doddling around the same amount.
 
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The Crypto Guy

The Crypto Guy

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Jun 26, 2017
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WOW, I just check on ICON......A high of $12.65 two months ago is now at $1.91. I hope nobody here invested in it.
 

void

Registered User
Jan 5, 2006
27,459
1,685
Decided to put more fiat in for the first time in a while. Not sure what possessed me. I guess the cheapness of some of these coins really excited me. :laugh:
 

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Emily said:
Decided to put more fiat in for the first time in a while. Not sure what possessed me. I guess the cheapness of some of these coins really excited me. :laugh:
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I agree. Some great buying opportunities atm. Especially NEO and Stellar excite me
 
YNWA14

YNWA14

Onbreekbaar
Dec 29, 2010
34,543
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Yeah I saw the low prices yesterday and wanted to put as much cash in as possible.

Unfortunately ATM I just don't have any more to invest. :( It was a prime buying opportunity.
 
Gardner McKay

Gardner McKay

RIP, Jimmy.
Jun 27, 2007
25,628
14,351
SoutheastOfDisorder
Gardner McKay said:
I had to take some profits so I decided to cash out OMG. I know I am going to regret it but... it was a move I had to make. I've got so much invested (100% profit at this point), and with a baby on the way I couldn't forgive myself if something happened, the market crashed and I missed the boat on taking some money.

That is all I plan to sell and if OMG dips I may buy back in using some other coins. From here on out I am riding this thing until the bubble bursts or I pay off my mortgage. With how the market has been the latter seems like such a real possibility.
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Gardner McKay said:
I'll explain in more detail later as I have to finish up a COLA analysis before I leave the office but... you can't go wrong right now with most coins. As we move forward, I am looking at coins that have staying power. For the next month or two I am going to really enjoy the ride. Come Feb/March/1 trillion in market cap, at that point I am going to start moving things into bubble surviving assets. What does that mean? More block chain projects as opposed to coins. Coins like XLM, Verge, etc. Coins that have real world application. Maybe moving even more into NVO. Not things like IOTA which have a multi-billion dollar market cap because they have cool technology with no real revenue stream or way of making money or something as absurd as Po.et.

Even when the bubble bursts I think this sector is here to stay. 75% of coins will go down the tubes though.
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Both these posts were from January 9th. 1 day after the ATH for Crypto. I was a bit off on the marketcap amount but I knew we were close. I thought we had another month. Re-reading that post I realize the bottom part was extremely unclear :laugh:

FWIW, I do think we are either at the bottom or very close... provided what we are seeing isn't a dead cat bounce. I don't know how fast or how high the recovery goes, I keep changing my mind on that every day. But I do think were done with these ridiculous sell offs for the time being.

As always... The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice. :)
 
ScottishCanuck

ScottishCanuck

Registered User
May 9, 2010
2,955
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Scotland
Saw a post on Reddit from a guy in the US saying he owed $50k in taxes for altcoin trading when his portfolio was only worth $30k.

Living in the US must suck for trading :laugh:
 
The Crypto Guy

The Crypto Guy

Registered User
Jun 26, 2017
26,450
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ScottishCanuck said:
Saw a post on Reddit from a guy in the US saying he owed $50k in taxes for altcoin trading when his portfolio was only worth $30k.

Living in the US must suck for trading :laugh:
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Exactly why i'm not claiming my, coin to coin, transactions. They have a broken system in place. I'll report when I cash out and money goes back into my bank account.
 
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