Bitcoin for the win!

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Bot traders helped us into the GFC with simple stop loss algorithms.

Deep Learning means that we will never even grasp, nor deconstruct the programmes of the next generation of bot traders is doing.

At that point, humans don't have a chance at "investing" rationally.

Have fun...soon, animal racing will seem more honest
 
Good discussion all
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The irony I see in some of this is how younger generations view bitcoin, versus the "evil" of Wall Street. Bitcoin, in my mind, is just the millennial version of stock trading. The value isn't in the product itself; it's in the perception of what others see in it. Just like a stock certificate ... Yet because young folks perceive it as "new" and a product of their generation, it's OK to speculate and trade. I'm being overly generic here, in terms of age groups; I get that. But it just grinds me when I'm called a "1%'er" if I talk stocks, but they somehow are geniuses' for dealing in bitcoin? As if their profits are somehow better/palatable/less-greedy/more-socially-sensitive?

Q: How's bitcoin any different than the stock market?
A: It's not; it's just their entitled version of hypocrisy.

In my view, it's just NASDAQ for nerds.
 
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Originally Posted By: dnewton3
The irony I see in some of this is how younger generations view bitcoin, versus the "evil" of Wall Street. Bitcoin, in my mind, is just the millennial version of stock trading. The value isn't in the product itself; it's in the perception of what others see in it. Just like a stock certificate ... Yet because young folks perceive it as "new" and a product of their generation, it's OK to speculate and trade. I'm being overly generic here, in terms of age groups; I get that. But it just grinds me when I'm called a "1%'er" if I talk stocks, but they somehow are geniuses' for dealing in bitcoin? As if their profits are somehow better/palatable/less-greedy/more-socially-sensitive?


Q: How's bitcoin any different than the stock market?
A: It's not; it's just their entitled version of hypocrisy.



And deep learning bot trading will be able to destroy both of them.

i.e. those in charge will get to harvest the rest of us and our retirement plans.
 
Originally Posted By: OneEyeJack
Money does not come from nowhere (pardon the grammar). If you win someone else must be losing.

That holds true on a gold standard or any physically backed currency. Today countries print money as needed causing perpetual inflation and a loss in value of currency. You don't have to feel bad to create wealth these days!
 
Where does one go to "learn" about Bitcoin?

I've read a lot of stories and threads and have heard radio reports mentioning the stuff.

It's funny how NO INFORMATION is ever given.

Is this something like Snipe Hunting?
 
Originally Posted By: Kira
Where does one go to "learn" about Bitcoin?

I've read a lot of stories and threads and have heard radio reports mentioning the stuff.

It's funny how NO INFORMATION is ever given.

Is this something like Snipe Hunting?


I just googled some years ago. "How to buy/sell Bitcoin" and started there... Found a Canadian Bank that will do the transaction between my bank account and the electronic currency that was legit and that's it. They told me the different choices for wallets to hold my bitcoins. You can use an online wallet or one in your computer. I would highly recommend the online one because if your computer crashes and you don't have a backup you loose your money. Just be sure to use an online wallet that is legit. Do your homework. It's a bit of the wild wild west out there in some places.
 
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If you use bitcoin as currency, does the price of the item automatically adjust based on the current value or do you end up paying the equivalent of $25 for your starbucks or whatever if you don't know the current valuation?
 
Originally Posted By: OneEyeJack
Money does not come from nowhere (pardon the grammar). If you win someone else must be losing.

Sucks to be them. My son started it years ago. He is closing in on $100,000
 
I have Tweed Stock which is in bed with Canopy. It has been on fire...
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Thanks for the tip on Aphria, I'll look into that.
 
Can someone explain to me where Bitcoin or any cryptocurrency derives it's value? It seems to me to be gambling or a pyramid scheme deal.
 
Almost all of its value is speculation. The rest is people buying in and then the mining that is going on to keep the value ever inflating. This is why you have to be careful with it in the short-term or play very long-term.
 
Originally Posted By: ZZman
Can someone explain to me where Bitcoin or any cryptocurrency derives it's value? It seems to me to be gambling or a pyramid scheme deal.


Speculation. It has no intrinsic value and no backing of a government. I am still unsure of its nature, which is the reason I didn't buy it when it was $100 or so and is why I am kicking myself for staying out of the scheme.
 
The value of anything is subjective. What's the value of gold? The dollar? More than anything, value can be determined by supply and demand.

Bitcoin's inflation is directly tied to the amount of bitcoins being mined. Mathematically, there will only ever be 21 million bitcoins released into the wild, with around 18 million already mined (and with a percentage of those lost forever due to lost/forgotten keys). So, inflation decreases with time, ever approaching zero.

Exchange rates between bitcoin and other currencies fluctuates, but bitcoin inflation is mathematically finite and known.
 
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