Hey Nerds: Blockchain

[CH1]

the Constellation deal was a game changer. the sector went parabolic. I landed some six baggers over 2 weeks like ISOL. I made my account target, sold the froth, raised cash and invested in more stealth names.

nice work on your crypto-strategy. I'm scouring for some plays but have yet to pull the trigger.

i definitely won't be trading bitcoin futures -- my moves mostly involve risk containment and there's no way to manage risk with bitcoin volatility

 

[Deckie007]

read this primer on blockchain and it will go away

https://www.forbes.com/sites/bernardmarr/2017/01/24/a-complete-beginners-guide-to-blockchain/#1a1b286b6e60

Thanks. I was more or less getting the gist of it, but that link confirmed my understanding.

 

[lecoqsportif]

Total, total neophyte on this stuff.

So, is the 21,000,000 coins limit still binding?

 

[CH1]

Total, total neophyte on this stuff.

So, is the 21,000,000 coins limit still binding?

I understand it's part of the code. The last block is scheduled to be mined in 2140. So there's plenty of time to adjust it...

 

[lecoqsportif]

So, they've recreated the gold standard.

 

[lecoqsportif]

I understand it's part of the code. The last block is scheduled to be mined in 2140. So there's plenty of time to adjust it...

Ah, you made the key edit - that means it's not a gold standard. But who would adjust? Using what rules?

nm: I misread 2140 for 2040

 

[CH1]

So, they've recreated the gold standard.

there is no actual "they". and the supply is supposed to be finite. but who can predict what the future holds....especially over 100 years from now.

 

[lecoqsportif]

I thought it was some dude in Australia?

 

[worm]

I thought it was some dude in Australia?

 

[leafman101]

In a theft on the cryptocurrency-mining service NiceHash, hackers made off with nearly $70 million worth of Bitcoin.

NiceHash announced the security breach on its Facebook page Wednesday afternoon, saying it is investigating the incident and stopping operations for 24 hours. NiceHash also recommended that users change their online passwords as a precaution, though they added “the full scope of what happened is not yet known.”

NiceHash said it is working to determine the exact amount of Bitcoin that was stolen. However, the Wall Street Journal reported that Andrej P. Škraba, head of marketing at NiceHash, confirmed to the outlet that approximately 4,700 bitcoin, worth about $70 million, was missing from NiceHash’s bitcoin wallet. Škraba also told the Journal that “it was a professional attack,” but would not give any more information, noting that developments would be released at a later date

http://time.com/money/5053744/hacke...utm_medium=social&xid=time_socialflow_twitter

 

[CH1]

Coinbase was the #1 downloaded app this week.

 

[MindzEye]

http://time.com/money/5053744/hacke...utm_medium=social&xid=time_socialflow_twitter

Yeah...the only time you should be using an online wallet is when you're looking to exchange from coin to currency. To just hold, you should be using a hardware wallet and only a hardware wallet.

Some people either forget, or never knew that this is the digital frontier they're playing on. The electronic Wild West. Act and plan accordingly.

 

[MindzEye]

Coinbase was the #1 downloaded app this week.

Which is either a strong signal of wider adoption....or a strong signal of impending shark jumping and a steeeeep nose dive in prices when the euphoria wears off and enough weak hands have the combined strength to shake 50% of the leaves off of the tree.

 

[CH1]

Which is either a strong signal of wider adoption....or a strong signal of impending shark jumping and a steeeeep nose dive in prices when the euphoria wears off and enough weak hands have the combined strength to shake 50% of the leaves off of the tree.

Problem right now is that bitcoin ownership is very concentrated and there's lot of wealth to protect. I believe some of the big whales will short BTC futures on Sunday as a way to lock in their profits without having to trigger a capital gain.

Long term, I'm still bullish in crypto and blockchain...but I have no position in bitcoin itself.

 

[MindzEye]

Problem right now is that bitcoin ownership is very concentrated and there's lot of wealth to protect. I believe some of the big whales will short BTC futures on Sunday as a way to lock in their profits without having to trigger a capital gain.

Long term, I'm still bullish in crypto and blockchain...but I have no position in bitcoin itself.

+1

I wish I had gotten into the mining game back in the day when mining BTC was profitable for a small scale operation, but having missed that bus....I'll just watch the circus from the cheap seats as an interested observer.

There's nothing wrong with accepting that you missed an opportunity. Nothing is worse than chasing a hyped asset.

 

[CH1]

“Someone will always be getting richer faster than you. This is not a tragedy.”
— Charlie Munger

 

[Aberdeen]

"I never buy at the bottom and I always sell too soon." ~ Baron Nathan Rothschild

 

[Artnes]

Never invest in a business you don't understand

- Buffet

Sent from my SM-G920W8 using Tapatalk

 

[UWHabs]

+1

I wish I had gotten into the mining game back in the day when mining BTC was profitable for a small scale operation, but having missed that bus....I'll just watch the circus from the cheap seats as an interested observer.

There's nothing wrong with accepting that you missed an opportunity. Nothing is worse than chasing a hyped asset.

There's always would of/could of's, especially in the investing world. "Man, I was a fool to not get Google/MS/Apple shares back in the day." Even something as simple as thinking about buying Nintendo stock a year ago, forgetting about that, and seeing it double in price the past year feels like a missed opportunity. But then again, most investments don't yield a 20X return in one year, or a 100X return in 5 years.

 

[zeke]

@ME

https://motherboard.vice.com/en_us/...um-is-a-hard-fork-parity?utm_source=mbtwitter