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[2020] A little stock market sense

MULTIZ321

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Coinbase shares open at $381 On Nasdaq, valuing cryptocurrency exchange at $99.6 billion.


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Richard
 

MULTIZ321

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Big day tomorrow, anyone buying Coinbase?

I’m not buying on the initial frenzy - I’ve got this on my watch list and will track it moving forward. More interesting to me was the recent Binance announcement for tokenizing stock:


Possible replacement for traditional exchanges?


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MULTIZ321

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Not me, I believe in block chain technology but COIN as an investment --- maybe a very small % of one's portfolio allocated for 'speculation'
I imagine it will be a wild ride

I had some mad money sitting in cash so I put in a limit order for 50 shares @$340, it finally got there late in the day. If it runs up to $500 I have a sell order to recover my cost and just play a few shares with house money.

I expect it will be a wild ride but I like the play, I don’t understand enough about crypto but there is money to be made on the transaction processing. Its like timeshares, the exchange companies exist on fees.
 

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Big day tomorrow, anyone buying Coinbase?
Currently I own no stocks but have a Day Order in as I post this to buy Coinbase at $320...

George

Update - My order was filled. Later I had second thoughts and sold at a samll profit. I think I will let the dust settle before buying again...
 
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Mark Cuban says bitcoin is far from its market top: 'The opportunity for it to go much higher certainly exists'


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Richard

An article about a bunch of people who have a vested interest in bitcoin rising, talking in maybes and possibilities about how much bitcoin will rise. What a shock.
 

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Mark Cuban says bitcoin is far from its market top: 'The opportunity for it to go much higher certainly exists'
.


Richard

bitcoin could go higher .....or it could go lower.
that's some advice !

" those wary of bitcoin say it’s too speculative, volatile and risky to invest in. There also could be future regulation by the government. The latest Bank of America Fund Manager Survey, for example, found that about 74% of respondents think bitcoin is in a bubble."
 

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bitcoin could go higher .....or it could go lower.
that's some advice !

" those wary of bitcoin say it’s too speculative, volatile and risky to invest in. There also could be future regulation by the government. The latest Bank of America Fund Manager Survey, for example, found that about 74% of respondents think bitcoin is in a bubble."

The challenge most people don’t understand with respect to government regulation is that it’s not possible by traditional standards. It’s like saying the government will regulate internet commerce. How? The internet is not centralized - it’s a distributed network that literally exists almost everywhere. Same with cryptocurrencies, it’s a democratized and distributed blockchain that exists everywhere worldwide now - the entire ledger for the blockchain is electronically distributed and held by various coin stakeholders worldwide. Blockchain technology was built to decentralize finance by design (hence the defi term often associated with crypto). The best the government could do is to tax cryptocurrency transactions.

The third generation cryptocurrencies like Cardano are offering up governance capabilities to encourage nation states to consider adopting digital currencies as national currencies. It is rumored that at least one African nation will soon announce adoption of Cardano as their national currency platform - in part to better reach the unbanked. Democratization of digital currencies like this will likely help third world nations to compete against traditional first world nations that still embrace their own fiat currencies. Fiat currencies are the dial up internet modems of times past, digital currencies are the broadband internet connections that are the future. Just a question of when, not if. The day of the USD as the world reserve currency are numbered IMHO.


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The challenge most people don’t understand with respect to government regulation is that it’s not possible by traditional standards. It’s like saying the government will regulate internet commerce. How? The internet is not centralized - it’s a distributed network that literally exists almost everywhere. Same with cryptocurrencies, it’s a democratized and distributed blockchain that exists everywhere worldwide now - the entire ledger for the blockchain is electronically distributed and held by various coin stakeholders worldwide. Blockchain technology was built to decentralize finance by design (hence the defi term often associated with crypto). The best the government could do is to tax cryptocurrency transactions.

The third generation cryptocurrencies like Cardano are offering up governance capabilities to encourage nation states to consider adopting digital currencies as national currencies. It is rumored that at least one African nation will soon announce adoption of Cardano as their national currency platform - in part to better reach the unbanked. Democratization of digital currencies like this will likely help third world nations to compete against traditional first world nations that still embrace their own fiat currencies. Fiat currencies are the dial up internet modems of times past, digital currencies are the broadband internet connections that are the future. Just a question of when, not if. The day of the USD as the world reserve currency are numbered IMHO.


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Cryptocurrencies are every bit as much "fiat" as the current national currencies. The difference is the instead of the "full faith and credit in the government" of a national currency, cryptocurrencies are backed by the "full faith that people will value an algorithm over everything else".

I guess I just don't have that faith.
 

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Back in early 2000 I made some stock market decisions that I came to regret. After that, I let my financial advisor run his ideas by me. I did buy QQQ and Verisign when low to my credit.
 

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Cryptocurrencies are every bit as much "fiat" as the current national currencies. The difference is the instead of the "full faith and credit in the government" of a national currency, cryptocurrencies are backed by the "full faith that people will value an algorithm over everything else".

I guess I just don't have that faith.

That’s not entirely accurate. The difference between the current fiat currencies and crypto is that a central bank doesn’t control the ledger. The cryptocurrency ledger is written and maintained cia a distributed model via the blockchain technology. The blockchain is not hackable and cannot be altered once recorded into the electronic ledger via mining (POW) or once staked (POS). The ledger cannot therefore be manipulated by any central bank to devalue the currency or manipulate the currency like many governments, ours included, do today. The government is supposed to represent the people. The cryptocurrencies are decentralized and are maintained by people either mining or staking the currencies to the blockchain via electronic ledger transactions. Crypto is all about putting the power where it really belongs - with the people - not with national governments that are prone to corruption and politics. Our government has managed to run up a 28+TT dollar debt and rising. I have little to no faith in any national government entity that has managed finances and fiat currencies so badly over time. I have faith in the people, and my faith ends there.


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That’s not entirely accurate. The difference between the current fiat currencies and crypto is that a central bank doesn’t control the ledger. The cryptocurrency ledger is written and maintained cia a distributed model via the blockchain technology. The blockchain is not hackable and cannot be altered once recorded into the electronic ledger via mining (POW) or once staked (POS). The ledger cannot therefore be manipulated by any central bank to devalue the currency or manipulate the currency like many governments, ours included, so today. The government is supposed to represent the people. The cryptocurrencies are decentralized and are maintained by people either mining or staking the currencies to the blockchain via electronic ledger transactions. Crypto is all about putting the power where it really belongs - with the people - not with national governments that are prone to corruption and politics. Our government has managed to run up a 28+TT dollar debt and rising. I have little to no faith in any national government entity that has managed finances and fiat currencies so badly over time. I have faith in the people, and my faith ends there.


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true - but a majority of the people has to believe the crypto currency is better than their government's currency and the crypto currency is readily and easily acceptable as a medium of exchange.
When that occurs it is similar to gold or other precious metals
 

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That’s not entirely accurate. The difference between the current fiat currencies and crypto is that a central bank doesn’t control the ledger. The cryptocurrency ledger is written and maintained cia a distributed model via the blockchain technology. The blockchain is not hackable and cannot be altered once recorded into the electronic ledger via mining (POW) or once staked (POS). The ledger cannot therefore be manipulated by any central bank to devalue the currency or manipulate the currency like many governments, ours included, so today. The government is supposed to represent the people. The cryptocurrencies are decentralized and are maintained by people either mining or staking the currencies to the blockchain via electronic ledger transactions. Crypto is all about putting the power where it really belongs - with the people - not with national governments that are prone to corruption and politics. Our government has managed to run up a 28+TT dollar debt and rising. I have little to no faith in any national government entity that has managed finances and fiat currencies so badly over time. I have faith in the people, and my faith ends there.


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What happened to the bitcoins hacked from MT Gox? Or any of the other bitcoin exchanges? Since they had the block chain technology, why weren't they tracked down as stolen property? That's my take on bitcoin security.

I first heard of bitcoin in 2009 at around $1 per bitcoin. I felt the security was dodgy, inasmuch as there was no way to stop stolen coins from being used (and no end of hackers trying to get them.).
 

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What happened to the bitcoins hacked from MT Gox? Or any of the other bitcoin exchanges? Since they had the block chain technology, why weren't they tracked down as stolen property? That's my take on bitcoin security.

I first heard of bitcoin in 2009 at around $1 per bitcoin. I felt the security was dodgy, inasmuch as there was no way to stop stolen coins from being used (and no end of hackers trying to get them.).

MT Gox was an exchange that went bankrupt way back in 2011 - ten years ago - a lifetime ago in technology terms. The coins were stolen from a hacked wallet held by the exchange - and the exchange itself was hacked to facilitate false transactions. The blockchain and electronic ledger itself was never hacked. The exchange was obviously using a software wallet that could be hacked.

That said, the exchanges even today need improvement. This is where regulation would help - much like the SEC regulates the market exchanges today that are also private sector entities.

It’s not much different than if someone steals your actual physical wallet today - if that happens then you’ll lose your money - whether fiat currency or credit cards or cryptocurrency. If you don’t secure your money properly, it’s likely to be stolen.


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MT Gox was an exchange that went bankrupt way back in 2011 - ten years ago - a lifetime ago in technology terms. The coins were stolen from a hacked wallet held by the exchange - and the exchange itself was hacked to facilitate false transactions. The blockchain and electronic ledger itself was never hacked. The exchange was obviously using a software wallet that could be hacked.

That said, the exchanges even today need improvement. This is where regulation would help - much like the SEC regulates the market exchanges today that are also private sector entities.

It’s not much different than if someone steals your actual physical wallet today - if that happens then you’ll lose your money - whether fiat currency or credit cards or cryptocurrency. If you don’t secure your money properly, it’s likely to be stolen.


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But the point of block chain is an unhackable audit trail. So any stolen property should have been easily identified. It was not. That is why I have no confidence in the cryptocurrency concept. It lacks security. What good is an audit trail that isn't used?

To use your physical wallet example. If every bit of money in it had a unique serial number (and it does), and every time a piece of money was automatically checked when it was exchanged (which it isn't - today); then what good would it do the person who stole it? The money couldn't be used for anything but starting a fire. Cryptocurrencies are supposed to work that way, but they don't.

But in the end, security aside, cryptocurrencies only have value because people <believe> they have value. They have no other utility otherwise. You can't do anything with them, they have no physical existence. You can at least burn paper money for warmth. Even tulips has uses. . .
 
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