Post: #51

(02-28-2018 01:20 AM)Dulceácido Wrote:  I'm not bragging. Not at all. Just pointing out I don't need bitcoins, so I'm not easily goaded into buying or short selling them.

I don't know that anyone here needs bitcoin. It's a fun little hobby. Sometimes it goes up, and sometimes it goes down, and we all have a lot of fun.

Post: #52

(02-28-2018 01:34 AM)SamuelBRoberts Wrote:  

(02-28-2018 01:20 AM)Dulceácido Wrote:  I'm not bragging. Not at all. Just pointing out I don't need bitcoins, so I'm not easily goaded into buying or short selling them.

I don't know that anyone here needs bitcoin. It's a fun little hobby. Sometimes it goes up, and sometimes it goes down, and we all have a lot of fun.

Understood, Bro. As I've already said, I hope you guys make a mint and I really mean that. I hope you all become millionaires. I truly hope you believe me. I'm modestly successful. I'm by no means rich, but if you can do it; go for it.

On the other hand, I'm not gonna sit here and be called an idiot by someone who asks, "What happens in a recession?"

Post: #53

(02-28-2018 12:50 AM)Dulceácido Wrote:  And besides, I'm not the one getting shot up by my own supporters:

(02-27-2018 10:09 PM)Captain Gh Wrote:  How the Fuck can OP Babble On & On about some shit he doesn't even know? I mean I also don't know much about Crypto... but in a world where selfless cars are coming... do you really think the Government will keep Paper Bills around. Crypto won't crash... it's the whole system that will... and then crypto will become the de facto currency for the Government!

Since I had posted exactly 3 sentences in this thread when he wrote that, I'm quite sure he was referring to you. He mistook you for the OP since, I don't know, you've been babbling on and on like it's your thread.

(02-28-2018 12:50 AM)Dulceácido Wrote:  Pretty sure I know how a block chain works.

Pretty sure you don't. At least it sure doesn't sound like it from what you've written.

(02-28-2018 12:50 AM)Dulceácido Wrote:  I don't "short" cryptocurrencies because I don't know the exact date they are going to circle the toilet, so please don't give me investment advice. I've figured it out so far without your help and without one single bitcoin. I have 2 homes, a car, food, a booming IRA, plenty of spending money, zero debt, and I buy whatever I want--guess what? Never had a single bitcoin...

Nobody said you needed Bitcoin, and I don't think anybody here cares if you buy it or not. However you're on a Bitcoin forum thread telling everyone how sure you are Bitcoin is worthless and going to crash to nothing. So why aren't you shorting it? The exact date it crashes is hardly important. If Bitcoin is going to crash to zero that's $12k down to zip, even if it takes 5 or 10 years to happen it's guaranteed to be the best short you've made in your lifetime, you'll be a multimillionaire many times over, you will be able to add 5 more homes and a Ferrari to the 2 homes and car you already speak so proudly of, and you don't need to do anything except sit back and jerk off and enjoy watching it happen.

Like I said, when you're that sure of something, like you made out to be in your initial posts, it's completely illogical to not be short. It's like seeing a stack of $100 bills on the ground and not picking it up because you already own a car and a home. Uhh?

When we traded we would know how full of shit someone was by the money they put down. Nobody says "I'm sure this is going to X" and doesn't try to get rich off it. They say "I'm sure this is going to X" and they put up. If you don't know, you stay out. If you know, you go in. Again there's nothing wrong with not knowing, as long as you shut up and don't prance around pretending like you do.

Post: #54

I think this thread is asking the wrong question. We should not be asking " what happens to crypto in a recession", but be asking the question; " could the comming crypto crunch crash the global economy leading to recession".
After all if the $500 billion worth of crypto suddenly becomes near worthless that's an awful lot of money to just disappear. That would certainly cause another US then Global recession, just like the sub prime recession.

Mores to the point we should be askng the question ; " are the globalist elites engineering the crypto bubble and crunch in order to bring down Trump and even further derail Brexit?"

And if so, can anything be done about it??

I don't see the globalist elites bailing out the crypto market like they did the banks because crypto is not in the best interest of the globalist elite.

Post: #55

It all depends on how widely adopted crypto is at the time of the crash.

(Mainly) Bitcoin and Ethereum are slowly being adopted for payments by online shops. There are crypto credit cards. There are bitcoin atms. There are some companies working on Point-Of-Sale crypto machines for brick and mortar shops (Pundi-x is one example). These all build trust for real use of cryptocurrency.

Like another poster mentioned here earlier, in a recession people will drop their high risk assets to collect low risk ones. As more time passes, crypto looks less and less like a high risk asset.

Post: #56

(02-28-2018 07:55 AM)Guitarman Wrote:  I think this thread is asking the wrong question. We should not be asking " what happens to crypto in a recession", but be asking the question; " could the comming crypto crunch crash the global economy leading to recession".
After all if the $500 billion worth of crypto suddenly becomes near worthless that's an awful lot of money to just disappear. That would certainly cause another US then Global recession, just like the sub prime recession.

Mores to the point we should be askng the question ; " are the globalist elites engineering the crypto bubble and crunch in order to bring down Trump and even further derail Brexit?"

And if so, can anything be done about it??

I don't see the globalist elites bailing out the crypto market like they did the banks because crypto is not in the best interest of the globalist elite.

500 bill is nothing

http://www.visualcapitalist.com/worlds-m...tion-2017/

Post: #57

Agree 500 billion is nothing. It's not even the market cap of a single top-ten company. Facebook is 520b or something, for example.

Post: #58

Duceacido is trolling hard. crypto's value as an exchange medium blows wire transfers out of the water. That alone is what got me on board at first. Wanna wire transfer over 10,000 dollars fast and painlessly?

Gonna take you quite a bit of time and a few phone calls as the banks endlessly drag their feet as they flag your transaction.

Meanwhile, I just send someone 10 eth in less than an hour and be gone back into the ether.

Also, the idea that crypto is worthless?



I get it. Nocoiners can have opinions too, but try harder next time, bro.

Post: #59

“One of the great rules of life is that we all establish 'policies', although we call them habits or preferences or beliefs or techniques, which are useful to us, but which we continue to use after the reason for them has evaporated. We have a hard time seeing things as they are because we can never get what they were out of our heads.”

Bill James

Post: #60

(02-28-2018 09:23 PM)Fortis Wrote:  Duceacido is trolling hard. crypto's value as an exchange medium blows wire transfers out of the water. That alone is what got me on board at first. Wanna wire transfer over 10,000 dollars fast and painlessly?

Gonna take you quite a bit of time and a few phone calls as the banks endlessly drag their feet as they flag your transaction.

Meanwhile, I just send someone 10 eth in less than an hour and be gone back into the ether.

Also, the idea that crypto is worthless?



I get it. Nocoiners can have opinions too, but try harder next time, bro.

lol... I'm not trolling you guys. My position is clear: I hope you guys make a fortune. Period.

You must carry a low balance in your bank accounts (kind of odd for a rich currency trader, but okay). I can say, that I have a "preferred" account and I can make a free money transfer of several tens of thousands of dollars with one phone call in seconds. You don't get one of those without having about $200k in your account. So, you may not know about these things.

And once again, I never said crytocurrencies are worthless, quite the contrary at the moment. I just said they're not worthless yet.

My skepticism about the currency is not nearly as equal to the "hype" you guys are buzzing on about, so, fair is fair.

Post: #61

(02-28-2018 11:03 PM)Dulceácido Wrote:  You must carry a low balance in your bank accounts (kind of odd for a rich currency trader, but okay). I can say, that I have a "preferred" account and I can make a free money transfer of several tens of thousands of dollars with one phone call in seconds. You don't get one of those without having about $200k in your account. So, you may not know about these things.

Interbank? How? The money's not sent via ACH?

Post: #62

(03-01-2018 12:08 AM)SamuelBRoberts Wrote:  

(02-28-2018 11:03 PM)Dulceácido Wrote:  You must carry a low balance in your bank accounts (kind of odd for a rich currency trader, but okay). I can say, that I have a "preferred" account and I can make a free money transfer of several tens of thousands of dollars with one phone call in seconds. You don't get one of those without having about $200k in your account. So, you may not know about these things.

Interbank? How? The money's not sent via ACH?

Not sure. Never asked them about these things. I know I've done it on two occasions: once to buy a classic car and once to buy a portion of a foreign condo. Both transactions had different hoops to jump through. The car was with a private seller, which normally equals problems, but it happened in moments. The other was a little more complicated... It took about 3 hours, because of the foreign purchase. On my end, it was done, but on the receiving end, they couldn't process it so quickly. I was also dealing in a third world country.

Although I'm not certain, I suspect that I didn't have to forego all the BS because I had the cash in the bank to cover each purchase. I really can't tell you. I just know that when I go to the bank, they call me by name. They know my account numbers. Guess I should say here, I've been with the same bank for 24 years. They don't ask me questions when I do things and I don't ask them how they conduct their transactions; I just expect that it gets done, and it does.

I would doubt it is through a traditional ACH. I've never asked. It never occured to me, until now, that maybe that's not normal. Doesn't matter. The results are the same.

Post: #63

(03-01-2018 12:37 AM)Dulceácido Wrote:  

(03-01-2018 12:08 AM)SamuelBRoberts Wrote:  

(02-28-2018 11:03 PM)Dulceácido Wrote:  You must carry a low balance in your bank accounts (kind of odd for a rich currency trader, but okay). I can say, that I have a "preferred" account and I can make a free money transfer of several tens of thousands of dollars with one phone call in seconds. You don't get one of those without having about $200k in your account. So, you may not know about these things.

Interbank? How? The money's not sent via ACH?

Not sure. Never asked them about these things. I know I've done it on two occasions: once to buy a classic car and once to buy a portion of a foreign condo. Both transactions had different hoops to jump through. The car was with a private seller, which normally equals problems, but it happened in moments. The other was a little more complicated... It took about 3 hours, because of the foreign purchase. On my end, it was done, but on the receiving end, they couldn't process it so quickly. I was also dealing in a third world country.

Although I'm not certain, I suspect that I didn't have to forego all the BS because I had the cash in the bank to cover each purchase. I really can't tell you. I just know that when I go to the bank, they call me by name. They know my account numbers. Guess I should say here, I've been with the same bank for 24 years. They don't ask me questions when I do things and I don't ask them how they conduct their transactions; I just expect that it gets done, and it does.

I would doubt it is through a traditional ACH. I've never asked. It never occured to me, until now, that maybe that's not normal. Doesn't matter. The results are the same.

"I can do fast bank transfers, unlike you plebs" is a fascinating twist on the typical big-baller troll.

Post: #64

Okay... I'm a troll.. Only been here two years before you. Guess I was waiting for the right time to strike..? Maybe I'll wait a few years and attack something that I could've never thought could've existed....

Cryptocurrencies didn't even exist when I joined this forum, so watch your fucking mouth.

Post: #65

(03-01-2018 02:19 AM)Dulceácido Wrote:  Cryptocurrencies didn't even exist when I joined this forum, so watch your fucking mouth.

Or what, you'll pay some guys to beat me up, and they won't have to wait for the ACH to clear because of your awesome banking privileges?

Post: #66

Wow, this thread is still going on?
Why can't people just take the L & move on?

Don't need to qualify yourself to a random stranger on the internet like that, you don't even know them personally.

Post: #67

(02-28-2018 11:03 PM)Dulceácido Wrote:  You must carry a low balance in your bank accounts (kind of odd for a rich currency trader, but okay). I can say, that I have a "preferred" account and I can make a free money transfer of several tens of thousands of dollars with one phone call in seconds. You don't get one of those without having about $200k in your account. So, you may not know about these things.

In 2008, Morgan Stanley got bailed out by a Japanese investment firm. The Japanese firm agreed to inject 9 billion of capital into Morgan Stanley. However, it was over a weekend and also Columbus Day, so it would have taken 3 days to get the wire transfer done. So the Japanese firm wrote a check for $9 billion. As in, a paper one, like from the 90s.

https://www.businessinsider.com.au/the-9...?r=US&IR=T

Yes, that's right. Even the biggest billion dollar companies in the world need to wait business days for international wire transfers to clear, even when the entire company's future is on the line.

Not this guy. This guy can send international money transfers "with one phone call in seconds" because he has one years salary in his account and his bank manager knows his name. His 2 homes and car get him better privileges than the banking industry itself. Cool story man

Post: #68

(03-01-2018 02:19 AM)Dulceácido Wrote:  Cryptocurrencies didn't even exist when I joined this forum

Bitcoin was launched in 2009

Post: #69

(03-01-2018 02:19 AM)Dulceácido Wrote:  Cryptocurrencies didn't even exist when I joined this forum, so watch your fucking mouth.

Good lord. Get your facts right, or better yet, save what's left of your dignity and leave this thread.

Post: #70

I havent read this whole forum, but I know because of crypto I make on average 6 figures a year(even when it was less than $200 per BTC). I work for myself and get to travel all over the world. So for me at least and what I do works. It did take a lot of time, reading, etc to become good though. Starting out I got scammed for 16k but I have made more than that in a month more than two different occasions purely trading crypto. I have written a few short ebooks as well as a long e book that is for sale on it as well as running facebook groups. If your happy with your 9-5 job and weekly check, keep doing that. If you prefer freedom financially and freedom personally then I recommend learning about it. I've seen COUNTLESS people who said they were 100% dead set against crypto when it came out and a few years later they are invested into it. They are, for the most part a large amount of people I teach because back in 2010 when I started I told them about it and said its gonna be big as well as giving them buy signals multiple times and now they look to me for advice. Now I am not the be all end all of crypto but I know a fair bit from hosting a conference on it in vegas as well as the books/teaching people and the trading over the years. You no-coiners do not know what you are potentially missing on. I know a lot of people hold a grudge against the people who knew about it when it was cheap and made millions off of it and they are typically the XRP/USDT and FUD pushers. That is all.

Post: #71

(03-01-2018 07:14 AM)Gas Wrote:  

(02-28-2018 11:03 PM)Dulceácido Wrote:  You must carry a low balance in your bank accounts (kind of odd for a rich currency trader, but okay). I can say, that I have a "preferred" account and I can make a free money transfer of several tens of thousands of dollars with one phone call in seconds. You don't get one of those without having about $200k in your account. So, you may not know about these things.

In 2008, Morgan Stanley got bailed out by a Japanese investment firm. The Japanese firm agreed to inject 9 billion of capital into Morgan Stanley. However, it was over a weekend and also Columbus Day, so it would have taken 3 days to get the wire transfer done. So the Japanese firm wrote a check for $9 billion. As in, a paper one, like from the 90s.

https://www.businessinsider.com.au/the-9...?r=US&IR=T

Yes, that's right. Even the biggest billion dollar companies in the world need to wait business days for international wire transfers to clear, even when the entire company's future is on the line.

Not this guy. This guy can send international money transfers "with one phone call in seconds" because he has one years salary in his account and his bank manager knows his name. His 2 homes and car get him better privileges than the banking industry itself. Cool story man

The Japanese didn't know his guy so they couldn't get the big, 200k, baller-troll discount on wire transfers, gas. Morgan Stanley should have just called him up and he would have had this sorted out in one phone call.

The phone calls are so fast he doesn't even ask about these things.

Post: #72

So in a recession, I think people will be scrambling for cash and selling everything off. That includes Crypto, and so I think that will tank Crypto pretty hard.

Post: #73

I'm sure everyone here would happily just buy more crypto IF there was a huge recession dip.

Post: #74

Buying anything at the bottom will makes tons of money, especially crypto

Post: #75

^ Exactly, I'd love to have some cash sitting around in time for the next global recession.