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Meesum_Mtl

Virtual Currencies

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22 hours ago, Ron_Burgundy said:

Are you serious? Bitconnect is dead my friend. 

 

Ripple (XRP) is going to go crazy. 

 

IOTA - After Microsoft confirmed that they are not working with IOTA its dead too. 

 

Verge- its my fav and a big fan.

Eos - its a great project no doubt. 

Stellar  and Bytecoin- don't know much about them. I haven't done much research.  

ADA - i wish it could hit like $1000.

Any upcoming ICOs in mind?

Brother I think I may have been unclear or you misunderstood. I said those were the ones I would not invest in. I know that Bitconnect and Bytecoin are scams. But the fact that the latter still has a market cap over a $1 billion, indicates that there is something really wrong with these valuations. 

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10 hours ago, yasahebalzaman.313 said:

2 months ago i wanted to invest, i called sayed sistani office in Lebanon and asked them about it they told me its Haram. 

I was surprised at first they knew exactly what i was asking about, maybe because many are inquiring. My question is were did you read that he makes it permissible?

With respect to them, do they know enough about the subject to comment on it? Even those 'experts' that you seen on CNBC and Bloomberg don't have a good understanding of the subject. They may have heard of Bitcoin but do they really know how it works and why it's such a revolution in currency?

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45 minutes ago, Muhammed Ali said:

With respect to them, do they know enough about the subject to comment on it? Even those 'experts' that you seen on CNBC and Bloomberg don't have a good understanding of the subject. They may have heard of Bitcoin but do they really know how it works and why it's such a revolution in currency?

This is exactly what I was thinking. The maraji’ don’t know enough about the crypto business, people shouldn’t be asking them. If they allow trading regular stocks in the stock market, how can they rule crypto trading as haram then? That’s a bit hypocritical since the stock market and crypto market are the same concept in terms of buying/selling/trading. It’s illogical for one to be halal and the other to be haram. 

Crypto is ruled halal in the mean time, unless a marja’ comes out and rules both crypto and stock market  trading are haram, then it would be haram from that specific marja’ only.

Edited by Hassan-

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@Muhammed Ali There is a lot of scholars that understand finance and economy much more than us, like Sayed Mousa sadr, sayed mohammad baquer l sadr, Imam l khomeini, sayed l khamenei, etc... And I guess usually our marajii have the necessary resources to stay up to date with all the trends that are going on to be able to answer us. They have to have this to keep the system going. But it might be true that sayed sistani still didn't understand the whole concept this is why he didn't give a fatwa.

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22 hours ago, Muhammed Ali said:

Brother I think I may have been unclear or you misunderstood. I said those were the ones I would not invest in. I know that Bitconnect and Bytecoin are scams. But the fact that the latter still has a market cap over a $1 billion, indicates that there is something really wrong with these valuations. 

Oh sorry

 

I but i would say invest in XRP, Stellar, EOS and XVG.

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34 minutes ago, Ron_Burgundy said:

Its not risky we just need some regulations and its a future. 

you and I agree on a lot of things, this is not not of those.

investing in cryto-currency is highly risky. You just have to look at the news in the past month to figure that out.

 

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3 minutes ago, shiaman14 said:

you and I agree on a lot of things, this is not not of those.

investing in cryto-currency is highly risky. You just have to look at the news in the past month to figure that out.

 

Its all FUD. All rich people are spreading rumors so common people cannot make money. We are already behind. 

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1 hour ago, Ron_Burgundy said:

Its all FUD. All rich people are spreading rumors so common people cannot make money. We are already behind. 

quite the contrary brother. Rich people want us poor people to buy their fake money using our real money.

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Can we all just agree pls!

Honestly, it's baffling enough to create currency out of nothingness and that too with hefty invested block-chained regulatory beginnings to add value. If this was a religious argument, the atheist has already won - 'see i told you so, nothing creates something'.

I do not for a second believe the digital madness has any association with 'per chance'. I don't believe it's a couple of goggled-eyed script writers who one day whilst picking their noses and scratching their bums, suddenly had a lightening light-bulb moment and kaboom, what seemed rebellious at first turned to fortune. Highly unlikely. My opinion does not count but I do believe there is more than what meets the eye, maybe a schemed window opener for a one-world digital currency or what not, the conspiracy tail is as long as Uncle Sams pinocchio nose. But regardless, whether its RISKY with a schemed head-on bailout or its a slippery slope to a regulated future, it's here and it's working. Regardless of all the negative implications, the system is rigged to work whether for a specified time or for the long haul, so why not have a crack? As long as you don't throw in your life's earnings but play with a light spread of margarine on bread amount, you can lower the risk and hope for the best. 

Now where do I place 1 pence to make 2 billions in 3 years? That's what i'd like to know :book:

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Is this the bold sentence below true in reality  ? from : http://www.informationclearinghouse.info/48709.htm

Digitization of money and the economy is another tentacle of the evil octopus. Its advancing very fast with cryptocurrencies leading the way. Digitization of money is a means for the government or any oppressing force to control populations by holding on or confiscating their vital resources to sustain live, their income. Blockchain moneys like Bitcoins, ‘specialists’ say, are more secure than any banking system the world has known so far. That myth seems to have been broken. CNBC reported on 29 January that the Japanese cryptocurrency exchange had been hacked and about US$ 535 million equivalent of Bitcoins were stolen. This is the largest Bitcoin heist in Bitcoin’s relative short history of barely 9 years. So much for security.

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12 hours ago, Ron_Burgundy said:

Its not risky we just need some regulations and its a future. 

Some people will say a 55% decline is value is pretty risky:

https://arstechnica.com/tech-policy/2018/02/bitcoin-drops-below-9000-in-continued-cryptocurrency-slide/?amp=1

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1 hour ago, saas said:

Can we all just agree pls!

Honestly, it's baffling enough to create currency out of nothingness and that too with hefty invested block-chained regulatory beginnings to add value. If this was a religious argument, the atheist has already won - 'see i told you so, nothing creates something'.

I do not for a second believe the digital madness has any association with 'per chance'. I don't believe it's a couple of goggled-eyed script writers who one day whilst picking their noses and scratching their bums, suddenly had a lightening light-bulb moment and kaboom, what seemed rebellious at first turned to fortune. Highly unlikely. My opinion does not count but I do believe there is more than what meets the eye, maybe a schemed window opener for a one-world digital currency or what not, the conspiracy tail is as long as Uncle Sams pinocchio nose. But regardless, whether its RISKY with a schemed head-on bailout or its a slippery slope to a regulated future, it's here and it's working. Regardless of all the negative implications, the system is rigged to work whether for a specified time or for the long haul, so why not have a crack? As long as you don't throw in your life's earnings but play with a light spread of margarine on bread amount, you can lower the risk and hope for the best. 

Now where do I place 1 pence to make 2 billions in 3 years? That's what i'd like to know :book:

That is the whole point of being risky. Playing around with it is okay, investing your life savings or moving your 401k into it - not so much.

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Bitcoin has dropped below $8,000.

Japan's Coincheck which lost/had stolen  $540 million in virtual currency is being reviewed by Japan's Securities offices to see if Coincheck can actually guarantee the funds of its 260,000 customers/investors.

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1 hour ago, shiaman14 said:

They said same thing in September as well. Rich people are bashing bitcoin so it could drop and they could buy more and more. 

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On 31/01/2018 at 4:29 PM, Muhammed Ali said:
On 30/01/2018 at 5:33 PM, Ron_Burgundy said:

Are you serious? Bitconnect is dead my friend. 

 

Ripple (XRP) is going to go crazy. 

 

IOTA - After Microsoft confirmed that they are not working with IOTA its dead too. 

 

Verge- its my fav and a big fan.

Eos - its a great project no doubt. 

Stellar  and Bytecoin- don't know much about them. I haven't done much research.  

ADA - i wish it could hit like $1000.

Any upcoming ICOs in mind?

Brother I think I may have been unclear or you misunderstood. I said those were the ones I would not invest in. I know that Bitconnect and Bytecoin are scams. But the fact that the latter still has a market cap over a $1 billion, indicates that there is something really wrong with these valuations. 

The concern is how you both have come up with two different conclusions based on research. This is one of the problem with investing. How much are we speculating, and if that speculations comes off true, how much of that was actual research.

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31 minutes ago, monad said:

The concern is how you both have come up with two different conclusions based on research. This is one of the problem with investing. How much are we speculating, and if that speculations comes off true, how much of that was actual research.

I did that on purpose. I saw what people (including Ron) were promoting on this site and decided to warn against their investments. However I was genuine in my disapproval.

Quote

how much of that was actual research.

A little bit of research is dangerous. A sufficient amount of research is better. How do you know if someone has been doing enough research and has good judgement? Look their long term record. But in this case long term records are not available.

 

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4 minutes ago, Muhammed Ali said:

A little bit of research is dangerous. A sufficient amount of research is better. How do you know if someone has been doing enough research and has good judgement? Look their long term record. But in this case long term records are not available.

I should have written it better. My concern is?, how do we know what kind of research establishes a viable result. Considering that many are new to crypto, and they will follow either FOMO or their Gut instinct. Which of course is incorrect, but at the same time, reading white papers isn't much helpful, neither is looking at the Team and their associations. So, the investors are basing it on feeling, where a minority will benefit, the majority will make the minority benefit.

Edited by monad

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1 hour ago, monad said:

I should have written it better. My concern is?, how do we know what kind of research establishes a viable result. Considering that many are new to crypto, and they will follow either FOMO or their Gut instinct. Which of course is incorrect, but at the same time, reading white papers isn't much helpful, neither is looking at the Team and their associations. So, the investors are basing it on feeling, where a minority will benefit, the majority will make the minority benefit.

They can try to make use of strategies that successful investors and traders have used. E.g. diversification and hedging. They can try to work out how much any token ought to be worth. E.g. with shares people taken things like P/E into account. With cryptos we would need to use other metrics.

I think people should learn from the past and learn from those who know. E.g. look at the principles of Ben Graham. Learn lessons from the dotcom bubble. What attributes did the successful early Internet companies have? I think we should mainly look at cryptos that have a proven usecase.

But these things are really beyond what most people can do. It takes up a lot of time.

These is also the option of using some kind of investment index - if they exist.

Edited by Muhammed Ali

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Tuesday, 06Feb18

l noticed this AM that Bitcoin is ~$6350. Way down.

Which makes this interesting: Millennials afraid of stocks go bitcoin

https://www.marke[Edited Out]ch.com/story/millennials-are-afraid-stocks-are-too-risky-so-theyre-investing-in-bitcoin-2018-02-06 

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@monad

It's not all about research it's about belief on a project. I am not promoting any coin. I look for following 3 things in a project. 

  • Do they have a whitepaper? 
  • I look for the team and do google them up. 
  • Are they trying to resolve something?
  • Do they have real use case scenario? 
  • What are they doing differently?

 

 

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I've invested in XRP (ripple). Not a lot mind, just enough for seventy coins for now, while i test the waters. I paid no fees on any transactions because i did not buy from Coinbase. I used the famous Revolut, GDAX method. It takes longer for money to transfer but you by-pass fees, by swapping convenience. 

I'd like to have more of an academic reason to be purchasing these things. Could anyone link me to a good book, or lecture series, so i can maybe be better informed on what to buy, and when to buy and sell ? 

 

 

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19 hours ago, Intellectual Resistance said:

I've invested in XRP (ripple). Not a lot mind, just enough for seventy coins for now, while l test the waters. . I paid no fees on any transactions because i did not buy from Coinbase. I used the famous Revolut, GDAX method. It takes longer for money to transfer but you by-pass fees, by swapping convenience. 

I'd like to have more of an academic reason to be purchasing these things. Could anyone link me to a good book, or lecture series, so i can maybe be better informed on what to buy, and when to buy and sell ? 

 

 

"while l test..."    GOOD You have to start building your 'sense of judgment' this way.

As far as information to read, l am not sure currency trading manuals will help. To me, my opinion is that these crypto-currencies are like the dot-com boom of the 90s.

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On 2/20/2018 at 2:47 PM, Intellectual Resistance said:

I've invested in XRP (ripple). Not a lot mind, just enough for seventy coins for now, while i test the waters. I paid no fees on any transactions because i did not buy from Coinbase. I used the famous Revolut, GDAX method. It takes longer for money to transfer but you by-pass fees, by swapping convenience. 

I'd like to have more of an academic reason to be purchasing these things. Could anyone link me to a good book, or lecture series, so i can maybe be better informed on what to buy, and when to buy and sell ? 

 

 

https://xrpcharts.ripple.com/#/ to keep up with your investment

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