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      11-05-2020, 04:23 PM   #1
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Lightbulb Record $1 Billion worth of bitcoin linked to the Silk Road seized by U.S. Government!

I personally don't mess with the stuff. But I know folks who do.

Thoughts from those of you who do...?

https://www.cnbc.com/2020/11/05/1-bi...by-the-us.html
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      11-06-2020, 10:45 AM   #2
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Tough times
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      11-06-2020, 02:51 PM   #3
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Indeed. 2011-2013 was a helluva time.

As for the market place being shut down, I can assure you after Silk Road was shut down, 5 more market places opened. The only people more hell bent in finding loopholes in the law than the law are the criminals. People always find a way to do/get what they want. In the early 2010's, The Silk Road made it easier to purchase illegal substances, but that was 10 years ago. If wanted, I could make a phone call, send a text or email and have whatever I want delivered to my front door in 2 days.....or in 10 minutes. Not that I would or that I do; just an example of the crazy times that we live in.

I truly feel that we are on the verge of a serious melt down.....well, it's already begun; but it's going to get worse. With Oregon recently decriminalizing small amounts of drugs; we are either on the brink of a great thing.....or a seriously......seriously bad thing.

I try to keep an open mind and take into consideration Portugal's drug policies. If it's legal, crime is reduced, inmate reduction, lowered cases of HIV, etc. I can see the pro's and cons of each side.
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      11-06-2020, 03:46 PM   #4
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Quote:
Originally Posted by King Rudi View Post
Indeed. 2011-2013 was a helluva time.

As for the market place being shut down, I can assure you after Silk Road was shut down, 5 more market places opened. The only people more hell bent in finding loopholes in the law than the law are the criminals. People always find a way to do/get what they want. In the early 2010's, The Silk Road made it easier to purchase illegal substances, but that was 10 years ago. If wanted, I could make a phone call, send a text or email and have whatever I want delivered to my front door in 2 days.....or in 10 minutes. Not that I would or that I do; just an example of the crazy times that we live in.

I truly feel that we are on the verge of a serious melt down.....well, it's already begun; but it's going to get worse. With Oregon recently decriminalizing small amounts of drugs; we are either on the brink of a great thing.....or a seriously......seriously bad thing.

I try to keep an open mind and take into consideration Portugal's drug policies. If it's legal, crime is reduced, inmate reduction, lowered cases of HIV, etc. I can see the pro's and cons of each side.
Dont want to turn this into a political thread as we know how that's no longer allowed around here, so I'll keep politics out of it. when I first heard about what Oregon was doing I though they were nuts. But now that I know a little more, it may actually work. By de-criminalizing small amounts of hard drugs you can keep the focus on the dealers and open up options for the users. While illegal in small amount, cops would have 2 choices: Look the other way ignoring the law and their duty, or, take the user to jail where they clog up the system and end up released anyway in a day or two. Now that it's decriminalized, users who are caught will be presented with options: Pay a $100 fine, or (and here' the important part) go into state sponsored treatment. Finally treating addicts as sick and not criminals. It's worth a shot, IMO.
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      11-06-2020, 06:24 PM   #5
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Pic of the seized billion:
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      11-12-2020, 06:32 AM   #6
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Wait. How do you seize something that does not have a physical existence? Just check this https://pro-essay-writer.com/blog/college-packing-list and tell me how much does it cost?

Last edited by AdPal; 11-26-2020 at 12:53 PM..
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      11-12-2020, 07:20 AM   #7
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Wait. How do you seize something that does not have a physical existence?
I'm invested in many different crypto's. While they don't have a physical "existence", they do exist. Blockchain technology essentially "confirms" transfer / ownership. There are a bunch of YouTube videos that explain how it works.

Think of it this way - most people get paid via direct deposit from their employer. Their employer magically deposits money into their bank account. You then use a credit or debit card to buy something - money magically moves constantly from employer to bank account to a credit card company etc... At no point during any of those transactions does a guy with a bag of cash or gold actually move your money around. It's all 1's and 0's, yet you can buy whatever you want with it
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      11-12-2020, 01:17 PM   #8
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is it too late to get in on bitcoin?
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      11-12-2020, 02:29 PM   #9
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is it too late to get in on bitcoin?
This is in no way intended to be financial advice, and I know NOTHING about everything.... that said....

No way - go for it!

There are thousands of crypto currencies - Bitcoin being the one that everyone hears about. Bitcoin has been bullish the past few days (currently around $16,000), but in my humble opinion, anything under $20,000 is a steal IF you plan on keeping it for a few years. Day trading / short term holding in any type of crypto can be very lucrative, but it's also incredibly risky. I like to put a little bit into crypto each month (I have about 20 different "coins", Bitcoin being one of them). Most will fail miserably, but a few will sky rocket. The "big dogs" (Bitcoin, Litecoin, Ethereum etc...) will likely (again, I know nothing, so take it for what it's worth) be around for the long haul. I plan to hang onto my big dogs for a long time.

There are a bunch of different exchanges out there - if you want to dabble a little, PM me your phone number. Coinbase referral program will give each of us ten bucks worth of Bitcoin if you get hooked up with them. Coinbase fees are high so I don't use them often, but they do offer little quirks and bonuses here and there. I got 25 Algorand coins today for answering a 3 question quiz. Only worth $6 right now, but hell, if they go to a few bucks a coin, or potentially much higher, I made some actual money for doing nothing. I also stake a bunch of Algorand (google it) and make roughly 13% returns on it, paid out each month.

I'm rambling - it's fun, but you must be careful. It's essentially gambling. Buy responsibly with money you aren't afraid to flush down the toilet. Throwing a few bucks a month into Bitcoin or Litecoin as a small addition to a more traditional retirement portfolio is probably the way to go. In my humble, ignorant, unprofessional opinion
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      11-12-2020, 11:21 PM   #10
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Originally Posted by upstatedoc View Post
is it too late to get in on bitcoin?
No, the bullcycle just started. There will be a 10-30% pullback soon. That would be a nice entry. And the best strategy is DCA (Dollar cost average). Meaning, buy eg every month, no matter what the price is. So you get a nice average price. I do this since 3 years very successfuly. I also swingtrade, but not with huge ammounts.
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      11-15-2020, 11:25 PM   #11
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Next bull is around the corner leading to new all time high thanks to institutional investment this time around.
Might get closer to $50K, probably by feb'21. Some say DEC 20 as 3 years Mark of last run, other Jan 21 after election handover. It s coming.

This is not financial advise. I am only a cartoon character who knows nothing about this investment vehicle. Invest at your own risk to loose everything.
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      11-16-2020, 06:59 AM   #12
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Next bull is around the corner leading to new all time high thanks to institutional investment this time around.
Might get closer to $50K, probably by feb'21. Some say DEC 20 as 3 years Mark of last run, other Jan 21 after election handover. It s coming.

This is not financial advise. I am only a cartoon character who knows nothing about this investment vehicle. Invest at your own risk to loose everything.
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THIS!
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      11-16-2020, 11:15 AM   #13
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It appears that we've just kicked off a nice bullrun. My LTC account is skyrocketing let's hope the charts repeat themselves. If they do, I'll be retiring 15 years early.
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      11-22-2020, 02:49 AM   #14
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This post just got me smiling �� need to get in on Bitcoin though
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      11-26-2020, 12:16 PM   #15
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Exclamation

Ooooooops.....

https://cointelegraph.com/news/bitco...c-to-exchanges
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      11-26-2020, 03:02 PM   #16
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All good. I'm buying back now 😁
Buy low, sell high. Repeat.
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      11-26-2020, 03:23 PM   #17
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No worries! You don't get to enjoy the insane gains without losing a little hair during these quick drops. Hang on to what you have....you'll be glad you did this time next year Bought my first bitcoin for $450
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      11-27-2020, 12:53 PM   #18
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Quote:
Originally Posted by TXSTYLE View Post
No worries! You don't get to enjoy the insane gains without losing a little hair during these quick drops. Hang on to what you have....you'll be glad you did this time next year Bought my first bitcoin for $450
Goat
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      11-27-2020, 12:59 PM   #19
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Originally Posted by TXSTYLE View Post
Relax. Posting charts of one day moves for something this volatile will likely make you look dumb later.

Also, some people are long...no sense trolling them.

I donít like it myself, but the damn thing is a lot higher than a few years ago.
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      11-27-2020, 11:01 PM   #20
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Originally Posted by BayMoWe335 View Post
Relax. Posting charts of one day moves for something this volatile will likely make you look dumb later.

Also, some people are long...no sense trolling them.

I donít like it myself, but the damn thing is a lot higher than a few years ago.
And who TF are you? Yeah, whatever!
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      Yesterday, 01:25 AM   #21
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And who TF are you? Yeah, whatever!
Ok, so reason seems futile...
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      Yesterday, 04:17 PM   #22
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Quote:
Originally Posted by DETRoadster View Post
Quote:
Originally Posted by King Rudi View Post
Indeed. 2011-2013 was a helluva time.

As for the market place being shut down, I can assure you after Silk Road was shut down, 5 more market places opened. The only people more hell bent in finding loopholes in the law than the law are the criminals. People always find a way to do/get what they want. In the early 2010's, The Silk Road made it easier to purchase illegal substances, but that was 10 years ago. If wanted, I could make a phone call, send a text or email and have whatever I want delivered to my front door in 2 days.....or in 10 minutes. Not that I would or that I do; just an example of the crazy times that we live in.

I truly feel that we are on the verge of a serious melt down.....well, it's already begun; but it's going to get worse. With Oregon recently decriminalizing small amounts of drugs; we are either on the brink of a great thing.....or a seriously......seriously bad thing.

I try to keep an open mind and take into consideration Portugal's drug policies. If it's legal, crime is reduced, inmate reduction, lowered cases of HIV, etc. I can see the pro's and cons of each side.
Dont want to turn this into a political thread as we know how that's no longer allowed around here, so I'll keep politics out of it. when I first heard about what Oregon was doing I though they were nuts. But now that I know a little more, it may actually work. By de-criminalizing small amounts of hard drugs you can keep the focus on the dealers and open up options for the users. While illegal in small amount, cops would have 2 choices: Look the other way ignoring the law and their duty, or, take the user to jail where they clog up the system and end up released anyway in a day or two. Now that it's decriminalized, users who are caught will be presented with options: Pay a $100 fine, or (and here' the important part) go into state sponsored treatment. Finally treating addicts as sick and not criminals. It's worth a shot, IMO.
There is another possible outcome. More people will be inclined to experiment since its just like speeding. And since alcohol and weed have shown to be gateway drugs, who knows what will happen to those people.

Biggest issue is the supply. People wouldn't do drugs if there weren't any. But eliminating the entire supply is near impossible.

I think its interesting though how Oregon loosened restrictions on one of the leading causes of deaths in America and increased restrictions on one of the most important (life saving) constitutional rights.

After seeing the Portland debacle and their thought process, i really would not use Oregon as a paragon of effective law making.
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