iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,473 Blog Posts

Bitcoin Held $10,000 and We’re Off to the Races Again

Now that Bitcoin held $10,000, I think the coast is now clear for further expeditions into the degenerate world of crypto currencies. I’ve placed another $5k into them this morning, with the full intent of turning that $5k into $5 million. Some might argue, ‘hey fucked face, you were just maligning bitcoin. How dare you buy cryptos now and imply that you’ve been an ardent fan.’

To those people I slowly roll down the back window of my 1980s style stretch limo — and toss out a pack of lit jumping jacks — and then speed off.

Aside from stocks powering forward, oil is impressive. Within stocks, mega cap tech is the single best place to be positioned. I will have you know, that is exactly where Exodus Quant is positioned and I am doing very well there too — fuck you very much.

On the trading front, I have two stocks popping off: CNET and SECO. Both are leisurely higher, but not high enough to sell.

How many of you bought Ripple?

On the crypto front, I am buying STORJ and INS.

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19 comments

  1. chuck bennett

    Fred Sanford and I both bought Ripple

    Regards

    Chuck Bennett

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  2. mrcharlie

    Jumping jacks?! You sure you didnt grow up in Brooklyn in the 70’s??? Haha sounds like it. Im too pansy for cryptos but your SMI recommendation has been paying off along with a Phil Murphy “first 100 days” fueled venture into KSHB. Greetings from AP!

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  3. infinitezuul

    ripple is a scam and will be worth zero

    only value of ripple is in the gullibility of btc and eth hodlers trading for it

    ripple to zero asap

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  4. Marc David

    I’m in Ripple … I highly doubt so many banks including BofAML would be on the steering committee is if was a scam going to zero.

    Fly how are you getting $5k into an exchange? You had to Wire money in. Are you one of those ETH traders trading that for something else?

    You seriously dropping $5k on STORJ and INS? Why am I asking you if you are serious.

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  5. ericbakerbruce

    $5k? Pffft….my kids find that under the couch cushions after I nap

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  6. Marc David

    I guess what I didn’t like about STORJ is they don’t even accept Crytpo in their own token yet. So you have to use ShapeShift or Binance to purchase these things but really they want your credit card (fiat)

    At least SC uses their own tokens and the wallet is built-into the software you download like a Dropbox.

    Decentralized, encrypted storage is awesome! I’d just hate for one of them to fail and you potentially lose data? I know with SC if you don’t keep that wallet updated and don’t logon periodically, they flat out delete your data from the nodes and hope you have a backup!

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  7. numbersgame

    The Ripple protocol will not replace a crypto currency like bitcoin (which has problems of it’s own – transaction speed and efficiency) for a simple reason: it relies on trusted verifiers, just like today’s financial system.

    Basically, a ripple Server creates a Unique Node List (UNL). Once x% of the servers on the UNL verifies a transaction, that transaction then closes. However, each server has no limitations on who is on thier UNL. So banks could leave only other banks on their UNLs.

    Also, (unless I missed something, which I may have), a Bad Actor Server (BAS) may employ other BAS in their UNL. These servers may then puposely validate a fraudalent transaction, defrauding a Client. So basically we are back to the same problem as today: you need to explicitly trust a 3rd party verifier (today that is usually a bank or credit card corporation) for any transaction.

    In other words, if you are a corporation or governement with your own Server and UNL list, ripple may work very well for you. However, it doesn’t seem to make any sense when you talk about a consumer-level transaction. Now, internet markets with samll vendors (such as EBay, Amazon, etsy, etc.) will have their own servers if rippel took off. This means that samll parties will still ahve a way to conduct trusted transactions using ripple. The difference is that the trusted verifer would be Amazon, EBay, etc, and not necessarily a bank, as it is today.

    In the long run, I envision that the “big-winner cryptocurrency would use a huge network of small, anonymous, randomly-picked computers (such as smartphones) to verify transactions instead of a small number of high-powered computers, in the same way that 100 bad guesser
    can make estimtes (such as the number of beans in a jar) just as accurately as a small number of experts.

    I’d welcome any input form anybody else on this,.

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  8. CoinSpeak

    Fly is openly buying Crypto? The top is in. It’s over.

    XRP is garbage.

    EOS is the future.

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    • sarcrilege

      EOS is another clever scheme.

      “The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform.”

      https://tinyurl.com/ycbvpro5

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