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Kennel's thoughts on KryptoKurrency

Discussion in 'The Lounge' started by FreshSoulL, Jan 9, 2018.

  1. BankstownBulldog

    BankstownBulldog Kennel Enthusiast

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    At the risk of sounding dumb..

    How do you possibly mine for something that is basically just an idea?
     
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  2. Indiandog

    Indiandog Immortal Gilded

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    if you want to invest in bitcoin or any other crypto currency, you have better chance of winning at a casino.

    all these currencies have no intrinsic value not that US dollar has any, but it is more realistic than digital signals going parabolic with no fundamentals.

    PS. anyone thinking investing in bitcoins ( pure hype and no fundamentals) is same as investing in stocks has no idea at all.
     
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  3. chisdog

    chisdog Kennel Enthusiast

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    Is that in the US where the DOJ have just said they are gonna can it?
     
  4. chisdog

    chisdog Kennel Enthusiast

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    I was gonna go in when at $USD5K, but waited too long & it shot up. I'm no longer interested. People I have heard talk about it say that it could reach $USD1M or go bust just as easily. If you have some money you can afford to lose then maybe but do your homework. I heard someone had their investment stolen recently. It may be better to invest in another Crypto at the base level so you can't lose much but can possibly make a fortune. Which one? That's the question.
     
  5. JayBee

    JayBee Immortal

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    Nope.

    Canadian based companies backing Australian start ups :)
     
  6. Mitch Connor

    Mitch Connor Super Moderator Staff Member

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    My housemate dropped $1500 into Ripple.. a few days later it had made $580.. has ebbed and flowed since.’he’s going to pump another $1000 into it.
     
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  7. Dawgfather

    Dawgfather Immortal

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    The crypto currency ship sailed long ago. Plenty of people made big money, however from everything I’ve read and understood, most ‘smart money’ has avoided crypto like the plague.

    Highly volatile and putting your money into it might as well be like taking your savings to a bingo wheel and hoping for the best.

    In this current bull market I agree there may be more money to be made but no one will know when the penny will drop. When it does drop, it will be an absolute blood bath as everyone rushes to sell something that doesn’t actually exist and has no intrinsic value.
     
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  8. Mr Invisible

    Mr Invisible Super Mod Staff Member Premium Member Gilded

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    If there was any merit to it, hedge fund managers would be tossing fistfulls of it and pulling it out for fast returns on money.
     
  9. Hacky McAxe

    Hacky McAxe Immortal Gilded

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    You need to hire 7 dwarves to mine it for you. You have to be careful though. All it takes to distract them is one drugged up slut and they'll spent the rest of the day banging that High Ho!
     
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  10. Mitch Connor

    Mitch Connor Super Moderator Staff Member

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    I don’t understand the ‘mining’
     
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  11. Haza

    Haza Forum Regular

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    I had dumped $4k on ripple and Tron a month ago. Within 2 weeks it went up to $13k. Now it’s down to $3500. Go figure lol
     
  12. CroydonDog

    CroydonDog Immortal Gilded

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    Whilst it is difficult of course to truly ban stuff online, i'm surprised more governments haven't been trying to reign Cryptos in:

    Bitcoin plummets as South Korea announces plans to ban all cryptocurrency trading
    SOUTH Korea will ban all cryptocurrency trading, it’s been revealed. The shock announcement sent markets into free fall.

    [​IMG]
    Frank Chung
    @franks_chung
    [​IMG]
    news.com.auJANUARY 11, 20184:05PM

    SOUTH Korean authorities are preparing to ban all cryptocurrency trading, the country’s justice minister announced on Thursday.

    “There are great concerns regarding virtual currencies and justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges,” Park Sang-ki said in a statement distributed by the ministry’s press office, according to Reuters.

    Mr Park said he could not disclose details but would jointly work with a government task force to shut down virtual currency exchanges in South Korea, which is one of the world’s biggest markets for the likes of bitcoin and ethereum.

    The news sent crypto markets into free fall, with bitcoin down 14 per cent to $US12,845, ethereum down 10 per cent to $US1190 and ripple down more than 17 per cent to $US1.66 at the time of writing.

    According to industry website CryptoCompare, more than 10 per cent of ethereum is traded in South Korean won, second only to US dollars which account for around 32 per cent. Nearly 14 per cent of ripple and 5 per cent of bitcoin is traded in won.

    It came after a spokesman for the Coinone exchange earlier told Reuters that “a few officials from the National Tax Service” had raided their office this week, with police investigating suspected “gambling”. Authorities also raided the Bithumb exchange.

    Last week, South Korean authorities reportedly began inspections at six banks that provide accounts to companies involved in cryptocurrency trading, citing concerns about potential money laundering.

    Meanwhile, Chinese authorities are planning to crack down on bitcoin miners in order to “guide” them towards an “orderly exit” from the country.

    “The regulatory noise in South Korea and China, that’s going to be an ongoing threat to bitcoin and to crypto more generally for the foreseeable future,” ABC Bullion chief economist Jordan Eliseo said earlier this week.


    “Governments, financial institutions, you name it, are still working out how best to deal with crypto and the businesses involved with it.”

    On Monday, the widely used research website Coinmarketcap removed average price data from Bithumb, Coinone and Korbit from its calculations, causing confusion in the market. Prices on South Korean exchanges are typically 30 per cent higher on average.

    In an interview with CNBC on Wednesday, billionaire investor Warren Buffett warned cryptocurrencies would almost certainly “come to a bad ending”.
     
  13. Mr Invisible

    Mr Invisible Super Mod Staff Member Premium Member Gilded

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    I'd be listening to Buffett... the man knows his stuff.
     
  14. habs

    habs xdf Staff Member Gilded

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    Too much spec not enough hard info. CC ship sailed a few months ago imo.
     
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  15. Mr Invisible

    Mr Invisible Super Mod Staff Member Premium Member Gilded

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    OUCH ... reported 40% drops since December alongside $1500 wiped out in last hour.

    China moving to ban all CC mining, and ban the currency from country.
     
  16. south of heaven

    south of heaven Immortal

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    Hows it going now ? Lol
     
  17. CroydonDog

    CroydonDog Immortal Gilded

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    “It’s Just The Market Correcting Itself” Says Terrified Crypto Investor
    CONTACT

    A crestfallen young crypto investor has assured The Advocate today that the recent crash is just “the market working itself out.”

    Coen Matthews, a young digital media professional studying at the Polytechnic in Betoota explained that there was nothing to worry about as he refreshed his ever-diminishing portfolio of digital currency.

    “Honestly, there are a number of reasons for the drop in prices,” said the student who has no previous financial experience or expertise.

    “It’s Chinese Lunar New Year, and the Asian markets account for a huge amount of trade, they are just taking some of their money out for that. That money will come back in,” he said.

    “Then you have a post-Christmas boom that bolstered prices and the market is just correcting after that.”

    “It’s all good. It’s all good” he said while starting to visibly panic.

    “All the guys on Reddit are telling me to hodl (sic), I’m holding. I just wish all my money wasn’t tied up in crypto so I could buy the dip,” he laughed nervously.

    Matthews told us that while he is confident of long-term gains as he believes in the coins, it does seem like an eternity ago that he was trying to figure out how to prevent the tax man from getting his hands on his riches.

    “Yeah, won’t have to worry about Capital Gains Tax for a little while I guess,” he said.
     
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  18. Velk

    Velk Immortal Staff Member

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    Don't think it's too late for crypto, maybe in a couple of years but it's still in the early phase of adoption with alot of growth ahead. Granted even if the "bubble bursts" and we see the market crash up to 90% I would still be in profits from my initial so I'm not too concerned about that or regular short term crashes like the recent one. We should get our own coin into circulation, Kennel Kash (KK) :)
     
  19. Indiandog

    Indiandog Immortal Gilded

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    warned you fuckers!
     
  20. CaptainJackson

    CaptainJackson Immortal Gilded

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    The CIA told you, You inside mole
     
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