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Alan Smithee
Jan 4, 2005


A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...
Cheap


Coins

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klafbang
Nov 18, 2009
Clapping Larry

Doesn't seem to have much activity

Lolie
Jun 4, 2010

AUSGBS Thread Mum

I would blow Dane Cook posted:

"Are you thinking what i'm thinking Winklevoss1?" , "I think I am Winklevoss2"

Sadly wasted on an international thread.

Powershift
Nov 23, 2009


Tether is about to overtake litecoin for the 7th most valuable by market cap.

Alan Smithee
Jan 4, 2005


A man becomes preeminent, he's expected to have enthusiasms.

Enthusiasms, enthusiasms...
Good thing everyone is hodling tether so it's value is through the roof

Rock Puncher
Jul 26, 2014
Every second that happens we are becoming more and more technological-dependents, in a crisis nobody would accept gold for food, it is possible to the people accept bitcoin and use it as currency, you have an uncle starving in the middle of Asia? Send him btc in seconds.


Anyways, nobody predicts the future and we don't know what would happen in every scenario, so hope for the best. (Even that my point of view doesn't exactly coincide with yours u get upvoted because there is some true in your comment).

I would blow Dane Cook
Dec 26, 2008
Kinda disappointed that the Ethereum crash has not produced more comedy gold.

ilmucche
Mar 16, 2016

What did you say the strategy was?

I would blow Dane Cook posted:

Kinda disappointed that the Ethereum crash has not produced more comedy gold.

It's called tether, not comedy gold.

Over There
Jun 28, 2013

by Azathoth
I just made close to a $20 profit from Doge Coin a couple weekends ago which was cool. Paid $18 and it went up to $40 which I immediately sold.

Would not do again.

Boxturret
Oct 3, 2013

Don't ask me about Sonic the Hedgehog diaper fetish

Over There posted:

I just made close to a $20 profit from Doge Coin a couple weekends ago which was cool. Paid $18 and it went up to $40 which I immediately sold.

Would not do again.

congratulations you get to be added to the list of people that made money of bitcoins

there's like 5 now!

Mozi
Apr 4, 2004

Forms change so fast
Time is moving past
Memory is smoke
Gonna get wider when I die
Nap Ghost
what if we could prepare for the hurricane, but with blockchain?

stab
Feb 12, 2003

To you from failing hands we throw the torch, be yours to hold it high

The guy who had the meltdown over cp in the blockchain is probably really upset over that statement

Comfy Fleece Sweater
Apr 2, 2013

You see, but you do not observe.

stab posted:

The guy who had the meltdown over cp in the blockchain is probably really upset over that statement

I only go for the earliest coin tech. This is how you get the good stuff and the best reward. You gotta get in on the ground floor. Get them while they’re young, is what I say! The younger the better

spankmeister
Jun 15, 2008






Alan Smithee posted:

TUNNEL SNAKES RUUUUUUULE

Hahaha that's perfect.

GABA ghoul
Oct 29, 2011

Mozi posted:

what if we could prepare for the hurricane, but with blockchain?

To register a hurricane you have to pay a transaction fee which adds the hurricane to the hurricane blockchain through hurricane mining, which solves the problem of how to have a distributed p2p database of hurricanes that can be trusted by all parties to only contain genuine hurricanes

Double Bill
Jan 29, 2006

Mozi posted:

what if we could prepare for the hurricane, but with blockchain?

Put your house in the blockchain, and after it gets wiped out you can demand the hurricane to return it exactly the way it was.

Mozi
Apr 4, 2004

Forms change so fast
Time is moving past
Memory is smoke
Gonna get wider when I die
Nap Ghost

Double Bill posted:

Put your house in the blockchain, and after it gets wiped out you can demand the hurricane to return it exactly the way it was.

unfortunately there was a 51% attack and now my house legally is property of the hurricane

DerekSmartymans
Feb 14, 2005

The
Copacetic
Ascetic

Mozi posted:

unfortunately there was a 51% attack and now my house legally is property of the hurricane

Your breaking the NAP! I do not consent!

stab
Feb 12, 2003

To you from failing hands we throw the torch, be yours to hold it high

DerekSmartymans posted:

Your breaking the NAP! I do not consent!

Good news! All the global warming bitcoin is causing will make maritime law work inlands cause both coasts will be underwater!

Thanks bitcoin!

VitalSigns
Sep 3, 2011

divabot posted:

"but you see 2+2 really doesn't make 4 in this case, because then I wouldn't get all this money"

Sounds good, wiring you my life's savings

DerekSmartymans
Feb 14, 2005

The
Copacetic
Ascetic

stab posted:

Good news! All the global warming bitcoin is causing will make maritime law work inlands cause both coasts will be underwater!

Thanks bitcoin!

I watched The Arrival w/Charlie Sheen yesterday. God, when he learned the secret of global warming was a machine farting in big green bubbles to terraform Earth I immediately thought of a massive mining farm poisoning the world.

The kid’s legs cracking backwards was neat, too. If only Charlie said,”Buttcoin!” as the fart bubbles floated out. Like a real live pointless puzzle game the bitscoiin are killing the atmosphere.

Davethulhu
Aug 12, 2003

Morbid Hound

One of us tells only truth, the other only lies...

Hillary 2024
Nov 13, 2016

by vyelkin

InternetJunky
May 25, 2002

Has this been posted yet?

https://www.reddit.com/r/personalfinance/comments/9fcxk0/please_learn_from_my_mistakeshow_ive_financially/

Please learn from my mistake(s)...how I've financially ruined everything in less than 12 months

quote:

So here we go -

Long story short, I got screwed in the 2017/2018 Cryptocurrency bubble,

comedyblissoption
Mar 15, 2006

InternetJunky posted:

Has this been posted yet?

https://www.reddit.com/r/personalfinance/comments/9fcxk0/please_learn_from_my_mistakeshow_ive_financially/

Please learn from my mistake(s)...how I've financially ruined everything in less than 12 months
yes but take heart most actual humans in bitcoin are up uP UP

Adar posted:

we've been over the negative sum part about a dozen times ITT already. there are comparatively few actual losers, both because there aren't that many people who got in specifically in December/January and because the bulk of the cashout process was 'funded' by a relative handful of oligarchs + Wall Street getting in late in the game for huge sums. this is set to continue going forward, since the retail hype has worn off enough that the funds coming in are mostly institutional. while it's true less money comes out than goes in, many more actual humans are up than down. at some point this will change but unless prices completely collapse it won't happen for years.

feelix
Nov 27, 2016
THE ONLY EXERCISE I AM UNFAMILIAR WITH IS EXERCISING MY ABILITY TO MAKE A POST PEOPLE WANT TO READ

comedyblissoption posted:

yes but take heart most actual humans in bitcoin are up uP UP

wow Adar is really owned because there's a single anecdote that conflicts with his claims about general trends

divabot
Jun 17, 2015

A polite little mouse!

Davethulhu posted:

One of us tells only truth, the other only lies...

sorry, both heads talk about bitcoin

QuarkJets
Sep 8, 2008
Probation
Can't post for 2 hours!

feelix posted:

wow Adar is really owned because there's a single anecdote that conflicts with his claims about general trends

Are you saying that Adar is right?

Professor Shark
May 22, 2012

InternetJunky posted:

Has this been posted yet?

https://www.reddit.com/r/personalfinance/comments/9fcxk0/please_learn_from_my_mistakeshow_ive_financially/

Please learn from my mistake(s)...how I've financially ruined everything in less than 12 months

Already removed and locked.

Lambert
Apr 15, 2018

by Fluffdaddy
Fallen Rib

feelix posted:

wow Adar is really owned because there's a single anecdote that conflicts with his claims about general trends

His claims about "general trends" are completely baseless and counter to any observable reality.

Professor Shark posted:

Already removed and locked.

Reddit moderation really is trash.

Quote-Unquote
Oct 22, 2002



Professor Shark posted:

Already removed and locked.

Change 'reddit' to 'ceddit'

quote:

It physically hurts me to be writing this post on this community, as r/ PF has been a place of education, growth and forum I've long benefitted from for over 3 years now (or so I thought).
Some may point out this could be on a different sub, but I want people in PF to see it & learn from my mistakes so they don't end up in the same boat. I'd never wish anyone to be in this boat.
This post should have been something I posted months ago, and maybe calling myself out back then would have helped me from getting to where I am now. Call it a rant, call it venting, call me every self-degrading term you can find in your dictionary, but for me I'm just calling it absolute, rock bottom.
A bit of background on me to give context to the situation: I'm a 24 Y.O. college grad who was blessed enough to have higher education paid for via my grandparents, which left me debt free when I graduated in 2016. I've been working in sales now for over 2 years and in theory should have been banking $25k annually (33% of my take home)
In terms of character - I'm a hard working and genuinely kind person along with being an Eagle Scout in the Boy Scouts of America.
What is killing me the most however, is that I'm engaged to be married in February to my best friend in the world, and sharing this would ruin everything.

So here we go -
Long story short, I got screwed in the 2017/2018 Cryptocurrency bubble, (even better is that I'm still in (lol)). By November I had invested all my liquidity available in hopes of turning $23k into ____ (I went in without an exit plan (BAD)). I didn't know where it would take me, but I was fully invested..emptied my E*TRADE, Savings, and literally all my liquid cash. By December, $23k had turned into $65k, and by January, $65k had turned into $92k. There are people reading this who will not think that is a lot of money. For me, that was and is a lot of money. High on life, and drunk on greed....
I didn't cash out.

By February, a combination of overtrading and the market crashing had turned my $92k into $38k. By March, $38k was $12k.

Pissed off, upset and angry, I fell into a rut. I had no idea why I hadn't pulled the trigger and gotten out when I should have. I will NOT make that mistake again.
However, at the time, I had no idea that I was falling into depression. You see, I work at home, and spend most of the day in my own head. In hindsight, this was a bad recipe brewing.

I started to chase.

I wanted the money back and I knew those markets were done for. I spent hours on hours learning trading strategies, techniques and more, in effort to start working to get it back.

I can't long or short the coins b/c of my states laws on which exchanges can operate.... but I found a few sites online where I could essentially bet on the price going up or down by a certain value % within a certain amount of time. This lost the remainder of the $12k.
The same gambling sites accepted credit cards. At the time, I had low credit debt between 6 cards, and a credit ceiling of just over $76k at my disposal. Feeling even more depressed from the $12k loss, I started to play around in the online casino. Blackjack to be specific. I filled the credit cards to the brim. (taking out 2 personal loans in the process). What got me to keep going back was that I had winnings on three different occassions of $40k+. And Id lose it all without cashing out. And then go spend more. 'thats how they get you'

Credit score had then dropped from 730 something to 640 (ish).

I freaked out. I called my parents crying (something I've never done), and told them everything. (July by now)

My parents are very well off, and TLDR ... Dad used his family money and savings from 25+ years to pay it all off. I promised him I canclled all the cards, and closed the gambling accounts. I hadn't.

Here we are in September now... and I've just maxed my cards again. There will be no running home this time. There will be no consolidation/loans taken out. I am writing to tell Reddit today that I am over $86k in credit debt alone, my score has fallen to mid 500s, and I have a problem.

This is rock bottom. And I'd never wish this this depression on anybody.

Dude has a serious gambling problem in addition to being a crypto moron

Klyith
Aug 3, 2007

GBS Pledge Week

Lambert posted:

His claims about "general trends" are completely baseless and counter to any observable reality.

Well when one single idiot hedge fund lost $134 million dollars on buttcoins at least he's technically correct that the vast majority of monetary loss is by big players.

And all that money that went in had to end up in someone's hands. Probably a whole lot of burrito miners and guys who acquired a butt in 2014 were beneficiaries of all that loss. I wouldn't be shocked if there were more people who made a few k on their videocard milkcrate farms than there were idiot bubble buyers who lost all their savings.


All of this is a smokescreen covering the fact that buttcoins are useless and the shuffling of money from one idiot bitcoiner to another is a net negative economic activity. As a whole everyone lost.

QuarkJets
Sep 8, 2008
Probation
Can't post for 2 hours!

Quote-Unquote posted:

Dude has a serious gambling problem in addition to being a crypto moron

but you repeat yourself

NtotheTC
Dec 31, 2007


Quote-Unquote posted:

Change 'reddit' to 'ceddit'


Dude has a serious gambling problem in addition to being a crypto moron

That right there is why you should never pay off someone's debt for them. Goddamn.

KinkyJohn
Sep 19, 2002

EorayMel
May 30, 2015

WE GET IT. YOU LOVE GUN JESUS. Toujours des fusils Bullpup Français.
Image macros are banned on the Something Awful forums.

...!
Oct 5, 2003

I SHOULD KEEP MY DUMB MOUTH SHUT INSTEAD OF SPEWING HORSESHIT ABOUT THE ORBITAL MECHANICS OF THE JAMES WEBB SPACE TELESCOPE.

CAN SOMEONE PLEASE TELL ME WHAT A LAGRANGE POINT IS?

stab posted:

The guy who had the meltdown over cp in the blockchain is probably really upset over that statement

:vince::vince::vince::vince::vince:

Surprised this post seems to have been skipped by everyone.

:nice:

Moridin920
Nov 15, 2007

by FactsAreUseless

quote:

By December, $23k had turned into $65k, and by January, $65k had turned into $92k.

TAKE PROFITS SOMETIMES lmao jfc

Powershift
Nov 23, 2009


Moridin920 posted:

TAKE PROFITS SOMETIMES lmao jfc

But if you buy in at $100 and sell out at $1,000, then it goes to $10,000, you've lost $9,000

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Partycat
Oct 25, 2004

DerekSmartymans posted:

I watched The Arrival w/Charlie Sheen yesterday. God, when he learned the secret of global warming was a machine farting in big green bubbles to terraform Earth I immediately thought of a massive mining farm poisoning the world.

The kid’s legs cracking backwards was neat, too. If only Charlie said,”Buttcoin!” as the fart bubbles floated out. Like a real live pointless puzzle game the bitscoiin are killing the atmosphere.

*Loses all money on a new revolutionary blockchain alt coin*

*rolls eyes*]

“One of our very much bestest ICOs”

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