Crypto Mining

Tamborista

hasta la tambora
Apr 4, 2005
11,399
952
113
$32,976 LS, Classic H & S chart pattern, in BTC, I am flat, looking to get long below $30K, feels like we can go to $25K next trip down.
 

windeguy

Platinum
Jul 10, 2004
36,322
2,726
113
People who think that 12% returns are long term possibilities, or that anything cannot be hacked given time, I have a guy to contact for another sure fire wonderful beyond reality investment plan:

Bernie Madoff. Oh wait, he's dead, who took over for him?
 

malko

Campesino !! :)
Jan 12, 2013
4,742
358
83
People who think that 12% returns are long term possibilities, or that anything cannot be hacked given time, I have a guy to contact for another sure fire wonderful beyond reality investment plan:

Bernie Madoff. Oh wait, he's dead, who took over for him?

Citadel ?
 

malko

Campesino !! :)
Jan 12, 2013
4,742
358
83
$32,976 LS, Classic H & S chart pattern, in BTC, I am flat, looking to get long below $30K, feels like we can go to $25K next trip down.

Instructions unclear. I ll just continue stacking those sats 😉.

I think the 50 DMA will keep rejecting us for a couple of weeks.
 

Tamborista

hasta la tambora
Apr 4, 2005
11,399
952
113
Instructions unclear. I ll just continue stacking those sats 😉.

I think the 50 DMA will keep rejecting us for a couple of weeks.
The trend is down IMO, still on the sidelines, keeping any eye on the volume of these CME traded futs, BTCN1
Volume is up to 3,489 on JUL 2021, there is actually a market to play both sides.

BTCN2021

 

windeguy

Platinum
Jul 10, 2004
36,322
2,726
113
Well, yeah. But they could just as well be working on how to hack central banks, hedge funds and stock exchanges......

Off course, block chain is incapable of being hacked or traced, until it is. Gimme a break, eh?
 

beeza

Silver
Nov 2, 2006
3,257
407
83

Off course, block chain is incapable of being hacked or traced, until it is. Gimme a break, eh?
You need to understand the technology behind it. The blockchain itself hasn't been hacked, but the software where it is kept has been. There are various methods to keep your crypto safe, an online wallet or exchange isn't one of them. However a cold wallet, which is hardware based and off line is as safe as any bank.
 
Jan 9, 2004
9,662
874
113
You need to understand the technology behind it. The blockchain itself hasn't been hacked, but the software where it is kept has been. There are various methods to keep your crypto safe, an online wallet or exchange isn't one of them. However a cold wallet, which is hardware based and off line is as safe as any bank.

Maybe I misread the article from the CTO of Ledger, a cold wallet provider, or the story concerning the hack of Ledger;



Either way, it is all vulnerable.......in spite of statements to the contrary.

I have looked at crypto currencies and find that few people really understand and/or can explain them to the general public, particularly on how they will fit into the economic mix. For that reason alone, they are likely to remain on the fringe for sometime.

What I do see coming is a rise of more country specific Digital Currencies..............and while crypto is a commodity..........it is not, nor probably ever will be, a currency.......certainly not without government regulations of some sort.........which is antithetical to the very reason crytpo exists.

If one truly believes one of the main arguments about why crypto is the perfect solution to fiat currency.................then I suggest owning physical gold to be a better alternative.


Respectfully,
Playacaribe2
 

windeguy

Platinum
Jul 10, 2004
36,322
2,726
113
You need to understand the technology behind it. The blockchain itself hasn't been hacked, but the software where it is kept has been. There are various methods to keep your crypto safe, an online wallet or exchange isn't one of them. However a cold wallet, which is hardware based and off line is as safe as any bank.
I will put it this way. I don't want to understand the blockchain technology. At least beyond the videos and wicki's I have seen and where I have read about it.

I do want to state that there is practically nothing that cannot be hacked. If you tell me blockchain is impossible to hack no matter what, then I will just have to take your word for it. For sure, something that is offline cannot be hacked. That goes without saying. The rest of the system could potentially vanish making that off line "cold wallet" not have any value. But I have no predictions on that eventuality.

Anyone who wants to make money off this technology, I wish them well, be it crypto mining or investments.
 

beeza

Silver
Nov 2, 2006
3,257
407
83
Maybe I misread the article from the CTO of Ledger, a cold wallet provider, or the story concerning the hack of Ledger;



Either way, it is all vulnerable.......in spite of statements to the contrary.

I have looked at crypto currencies and find that few people really understand and/or can explain them to the general public, particularly on how they will fit into the economic mix. For that reason alone, they are likely to remain on the fringe for sometime.

What I do see coming is a rise of more country specific Digital Currencies..............and while crypto is a commodity..........it is not, nor probably ever will be, a currency.......certainly not without government regulations of some sort.........which is antithetical to the very reason crytpo exists.

If one truly believes one of the main arguments about why crypto is the perfect solution to fiat currency.................then I suggest owning physical gold to be a better alternative.


Respectfully,
Playacaribe2
I agree that explaining how the blockchain technology works is complicated. I have tried to get a basic understanding of how it works, but that's as far as my understanding goes. The actual mathematics and coding behind it way beyond my simple brain.

One day there will be future where the value of currency will not depend on heavy metal, which is difficult to move, store and protect. After all what is the value of a dollar based on today? Are you sure it's gold?
 
Jan 9, 2004
9,662
874
113
I agree that explaining how the blockchain technology works is complicated. I have tried to get a basic understanding of how it works, but that's as far as my understanding goes. The actual mathematics and coding behind it way beyond my simple brain.

One day there will be future where the value of currency will not depend on heavy metal, which is difficult to move, store and protect. After all what is the value of a dollar based on today? Are you sure it's gold?
There are no currencies today that I am aware of that are backed by gold.

Since the US left the gold standard in 1971 and since the demise of the Bretton Woods Agreement, the value of any currency, not just the dollar, is the full faith and credit of the issuer.........not gold. To be sure, the more gold you have the stronger your currency tends to become......but the currency is not redeemable in an equivalent amount of gold. Gold tends to be more of an insurance policy for countries and individuals.........and it really is not a great investment......

Gold, and other commodities, are how many people can and probably should have a hedge against a countries currency. With the current wild swings in the various crypto's, calling them a hedge against anything is suspect.

Money will be made in trading the crypto's as I can attest, but putting my faith in and relying on crypto is still, for me. a bridge too far

Respectfully,
Playacaribe2
 
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malko

Campesino !! :)
Jan 12, 2013
4,742
358
83

Off course, block chain is incapable of being hacked or traced, until it is. Gimme a break, eh?

Maybe my reading skills are not up to it, but it would seem to me the hackers got into regular commercial servers and asked for the ransom to be paid in crypto.

I wouldn't worry to much. The day the BTC Blockchain is compromised, it will be plastered all over the news and BTC value will go to 0--- as it's "only " point is to be public ( the ledger is there for all to see evert single transaction ) and safe ( the Blockchain can not be modified after the transactions are settled ).
I wouldn't pay any notice to Bankster FUD for the time being.
 

malko

Campesino !! :)
Jan 12, 2013
4,742
358
83
Maybe I misread the article from the CTO of Ledger, a cold wallet provider, or the story concerning the hack of Ledger;



Either way, it is all vulnerable.......in spite of statements to the contrary.

I have looked at crypto currencies and find that few people really understand and/or can explain them to the general public, particularly on how they will fit into the economic mix. For that reason alone, they are likely to remain on the fringe for sometime.

What I do see coming is a rise of more country specific Digital Currencies..............and while crypto is a commodity..........it is not, nor probably ever will be, a currency.......certainly not without government regulations of some sort.........which is antithetical to the very reason crytpo exists.

If one truly believes one of the main arguments about why crypto is the perfect solution to fiat currency.................then I suggest owning physical gold to be a better alternative.


Respectfully,
Playacaribe2

Ledgers were not hacked. Your crypto is still safe on a ledger ( well the access route to your crypto on the Blockchain ).

However Ledger--- the company--- suffered a hack and the emails and addresses of people who bought a ledger off them were leaked.
Resulted lots of phisging attempts.
That said if one can be so easily coerced into handing over your private keys to a phisher, one should not be one's own bank, and just stick with expensive Banksters.
 

windeguy

Platinum
Jul 10, 2004
36,322
2,726
113
There will always be those who insist something "cannot be done" until someone clever figures out how to do it.

I will watch from the sidelines unless I am forced to do so.

Those who invest in it with the intent of getting rich, having untraceable transactions, being cheaper than banks, not being regulated by governments, etc. moving forward, good luck with that.
 
Jan 9, 2004
9,662
874
113
Ledgers were not hacked. Your crypto is still safe on a ledger ( well the access route to your crypto on the Blockchain ).

And so is my gold buried in my back yard...............until..........
However Ledger--- the company--- suffered a hack and the emails and addresses of people who bought a ledger off them were leaked.
Resulted lots of phisging attempts.
That said if one can be so easily coerced into handing over your private keys to a phisher, one should not be one's own bank, and just stick with expensive Banksters.

Not a question of being coerced, but a question of being hacked for your private keys.........and then..............poof. Or worse, you forget your secret private keys/passwords................and you end up like Stefan Thomas;


21 million bitcoin have been mined. 3 million have "disappeared." It is not the kind of risk/reward ratio that would entice most people.

Quantum computers may prove to be the undoing of those "cold wallets."

I remain skeptical.


Respectfully,
Playacaribe2