Current Events > I'm rich as fuck thanks to Ethereum and cryptocurrency

(+) Yeah! (+)

Darkman124 posted...

MorbidFaithless posted...

What is the point of buying fake money?? How is this a thing? Why would someone buy it from someone?

speculation that its value will rise some more

But what is the point. You might as well be trading different colored rocks.
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QuantumScript posted...

Tekutso posted...

darkphoenix181 posted...

just remember that the more people invest the more it goes up

so people like tc have motivation to make it look like they making bank so you will invest too

I dont care if 5 people here invest. That does nothing. I dont need to spread any word, the technology is doing so quite well. There are nay sayers for every major innovation. Lets see where we are next year.

yeah right. if you can get 100 people here on board, they'll spread the word and get another 1,000 on board. and so on. and it's cheap to spread the word on gamefaqs. your post was just some shitty bragging in preparation for the pump and dump that's going to bring ethereum to its knees.

I had this mentality back when cryptocurrency was new. Everyone on CE gave the investors shit, saying they'd be broke and the whole market would crash.

But here we are.
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MorbidFaithless posted...

Darkman124 posted...

MorbidFaithless posted...

What is the point of buying fake money?? How is this a thing? Why would someone buy it from someone?

speculation that its value will rise some more

But what is the point. You might as well be trading different colored rocks.

Go do some research into Ethereum. Go look and see why Microsoft is using it. Its far from "fake money", hell thats not even its purpose.
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AlisLandale posted...

QuantumScript posted...

Tekutso posted...

darkphoenix181 posted...

just remember that the more people invest the more it goes up

so people like tc have motivation to make it look like they making bank so you will invest too

I dont care if 5 people here invest. That does nothing. I dont need to spread any word, the technology is doing so quite well. There are nay sayers for every major innovation. Lets see where we are next year.

yeah right. if you can get 100 people here on board, they'll spread the word and get another 1,000 on board. and so on. and it's cheap to spread the word on gamefaqs. your post was just some shitty bragging in preparation for the pump and dump that's going to bring ethereum to its knees.

I had this mentality back when cryptocurrency was new. Everyone on CE gave the investors shit, saying they'd be broke and the whole market would crash.

But here we are.

Yep! Ive had people calling me crazy for years now, yet here I am, set for life.
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MorbidFaithless posted...

What is the point of buying fake money?? How is this a thing? Why would someone buy it from someone?

criminals can use the money freely since it doesn't trace back to your identity
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While the TC is not wrong, there are a couple of things to note here:

1. BitCoin just hit a record high today. These are no longer infant markets where you're going to experience 100x gains, and you have a significant chance of a crash. These are highly speculative investments and should be treated as such.

2. While you may experience paper gains, converting cryptocurrency back to dollars is still very difficult. You might end up forfeiting much of your gains if you have immediate liquidity needs and need to convert. This is less of an issue if you are purchasing directly with cryptocurrency, however.

I don't disagree with the potential value of adding some crypto to a portfolio for diversification, but you're in trouble if you adopt a bubble mentality and are expecting massive gains. Do your research, invest carefully, and make sure the only money you are investing is disposable.
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You keep saying you're set for life but won't prove it. Hmmmmm.

Is the future going to be like video games where the currency is "credits" and it'll be like 4000 credits for a bottle of water? It's just so arbitrary.
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MorbidFaithless posted...

Darkman124 posted...

MorbidFaithless posted...

What is the point of buying fake money?? How is this a thing? Why would someone buy it from someone?

speculation that its value will rise some more

But what is the point. You might as well be trading different colored rocks.

people do that too

the answer is 'because a market exists'

i do not have the risk tolerance for that personally.
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The Admiral posted...

While the TC is not wrong, there are a couple of things to note here:

1. BitCoin just hit a record high today. These are no longer infant markets where you're going to experience 100x gains, and you have a significant chance of a crash. These are highly speculative investments and should be treated as such.

2. While you may experience paper gains, converting cryptocurrency back to dollars is still very difficult. You might end up forfeiting much of your gains if you have immediate liquidity needs and need to convert. This is less of an issue if you are purchasing directly with cryptocurrency, however.

I don't disagree with the potential value of adding some crypto to a portfolio for diversification, but you're in trouble if you adopt a bubble mentality and are expecting massive gains. Do your research, invest carefully, and make sure the only money you are investing is disposable.

There's still developing cryptos where you could see 100x gains and fast. Hell the market could easily go up in value 100x by 2025, some analysts are predicting an 8 trillion dollar evaluation at that point.

Converting crypto into fiat is pretty simple too.
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Tekutso posted...

There's still developing cryptos where you could see 100x gains and fast.

You have a far better chance of losing 100% of your investment than experiencing these kinds of gains. Your language here is exactly the same as the language used by the penny stock scammers in Wolf of Wall Street.

I reiterate everything I said in my post. This is a highly speculative asset and should be treated as such.
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The Admiral posted...

Tekutso posted...

There's still developing cryptos where you could see 100x gains and fast.

You have a far better chance of losing 100% of your investment than experiencing these kinds of gains. Your language here is exactly the same as the language used by the penny stock scammers in Wolf of Wall Street.

I reiterate everything I said in my post. This is a highly speculative asset and should be treated as such.

everything in this post is correct
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yeah I mean, I haven't put that much money into it
if it all went to zero tomorrow i'd be fine

it's def gambling but I have a little fun with it. then again, I don't think i'm gonna become a millionaire and i'm not basing my life around getting that
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The Admiral posted...

Tekutso posted...

There's still developing cryptos where you could see 100x gains and fast.

You have a far better chance of losing 100% of your investment than experiencing these kinds of gains. Your language here is exactly the same as the language used by the penny stock scammers in Wolf of Wall Street.

I reiterate everything I said in my post. This is a highly speculative asset and should be treated as such.

You could have invested in any solid coin with good fundamentals since the beginning of crypto and you would be up huge right now. Anyone of them. So I mean until one of them crashes and people really get burned theres been no lives ruined or anyone even burned. So in fact you were much more likely to make a profit up to this point. It certainly is a highly speculative asset ill agree with that.
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prince_leo posted...

if it all went to zero tomorrow i'd be fine

that is the correct attitude to take with investments like this

its my attitude towards options

i do trade options sometimes

Tekutso posted...

You could have invested in any solid coin with good fundamentals since the beginning of crypto and you would be up huge right now

yes if you had perfect market timing you would be up

that doesnt really tell someone anything but is a good way to fool morons
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Not that I don't believe TC, but I am skeptical. The way this topic is presented and the way TC keeps talking this up like a get rich quick scheme, I don't blame others for being the same.

If it sounds too good to be true it usually is.
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Darkman124 posted...

prince_leo posted...

if it all went to zero tomorrow i'd be fine

that is the correct attitude to take with investments like this

its my attitude towards options

i do trade options sometimes

Tekutso posted...

You could have invested in any solid coin with good fundamentals since the beginning of crypto and you would be up huge right now

yes if you had perfect market timing you would be up

that doesnt really tell someone anything but is a good way to fool morons

If you invested prior to a month ago you would be up, big, in pretty much anything. Lol.
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Tekutso posted...

If you invested prior to a month ago you would be up, big, in pretty much anything. Lol.

rephrased

"if you had bought right before the very recent surge in valuations you would be up big"

useless information that does not inform the new investor of present risks or potential returns

here is another statement that is equally true: "now is a much worse time to buy than a month ago"
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voldothegr8 posted...

Not that I don't believe TC, but I am skeptical. The way this topic is presented and the way TC keeps talking this up like a get rich quick scheme, I don't blame others for being the same.

If it sounds too good to be true it usually is.

I dont care if anyone invests and i dont want you to. You could lose everything. I dont see that happening but anything is possible.

I just came here to brag. Have fun at work guys. Lol.
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if you have so much faith in the coins tc

then cash out all you made

and use every penny to buy more coins

what could go wrong right?
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SK8T3R215 posted...

Are companies using the Ethereum block chain or are they developing their own for contracts, etc? And if they are using the Ethereum for contracts does that increase the value of Ether?

Anyone? From what I read a while ago it seemed none of these companies care about the "currency" of Ethereum but only the block chain of it to automate a lot of contracts which they are developing internally. Can someone clarify this?

This is what I have found when reading when I checked the reddit link:

https://www.reddit.com/r/ethereumfraud/comments/6bek5l/build_on_ethereum_or_ethereum_based_in_badly/
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Not that TC is necessarily lying, but you think he'd be less hostile to skeptics:


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voldothegr8 posted...

If it sounds too good to be true it usually is.

like with any investment, you need to be patient and accepting of the fact that you probably won't make billions.

You just can't go in expecting immediate gains.

If you can make a few thousand dollars on a small investment, you still won.

it's no different then guys who jumped on ME, Apple or whatever tech company that made it big in the early years of silicon valley.
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The Admiral posted...

Not that TC is necessarily lying, but you think he'd be less hostile to skeptics:

Yeah, also TC has mentioned that he told CE multiple times when Etherium was at a very low point to buy in, but absolutely nothing from him on "that site" besides disdain of crypto. Seems fake as hell to me.

chrono625 posted...

voldothegr8 posted...

If it sounds too good to be true it usually is.

like with any investment, you need to be patient and accepting of the fact that you probably won't make billions.

You just can't go in expecting immediate gains.

If you can make a few thousand dollars on a small investment, you still won.

it's no different then guys who jumped on ME, Apple or whatever tech company that made it big in the early years of silicon valley.

You are correct. TC making this sound like anyone can get rich right now though. He's laying it on so thick I'm starting to believe the people saying he's just doing this to get more people to buy.
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The Admiral posted...

Not that TC is necessarily lying, but you think he'd be less hostile to skeptics:

considering he also refuses to post evidence of his success i would assume lying

whenever people claim i dont have the assets i say i do, i post a snap of my personal capital acct
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TC is probably someone who regrets not buying into Ethereum before it got big, and now he's trying to get the hype train going so it can go up some more.

shows us the proof tc

how much you make?
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QuantumScript posted...

TC is probably someone who regrets not buying into Ethereum before it got big, and now he's trying to get the hype train going so it can go up some more.

That's my read into this. Especially the way he's not even giving hard numbers, just cliché comments like "Rich as fuck!" and "set for life"

I mean, if TC had actually invested several years before the post above where he trashed BitCoin, he'd be rich as fuck:

http://www.cnbc.com/2017/05/22/bitcoin-price-hits-fresh-record-high-above-2100.html

If you bought $100 of bitcoin 7 years ago, you'd be sitting on $72.9 million now

But this gets back to Darkman's point about the hindsight bias of perfect market timing. The returns you would have gotten if you invested in 2010 are irrelevant to the rationale for investing today.
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I'm reading into ctyptocurrencies and you buy them from one service, store them with another service and trade them or convert them withanother service. Not to mention all this tax stuff I need to read about @_@
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