Was anyone else long on Bitcoin Cash before today?

I'm in on the IPO, only if I can short it...

 

That's actually a really good name for a company. Where do I send my money?

 

Nice GIF depicting the bitcoin impact.

https://twitter.com/barstoolsports/status/944216855102808064

 

I also loved this, titled "Cryptocurrency in a nutshell":

 

You probably already know this, but I feel I have to tell you. Never buy a falling knife.

In the late 90's and early 2000's I worked in tech and was playing tech stocks.......really a lot of it was gambling just like bitcoin is now. I put a bunch of money in CMGI, or CMA its been so long I can't remember the acronym. Anyway, I was $ cost averaging on the way down. I lost over a 100K on that one stock.

I took another stock and bought a bunch really cheap, I think I put in $30K or bought 30,000 shares at a $1, at it's peak it was worth over 700K. The next morning it started tanking...I had my own stupid rule, from getting stopped out of stuff that would turn around and then jump back up. I was only selling when a days close was lower than the close a day or two before. Anyway I watched it shoot up and then drop all day. I finally jumped out the next morning after loosing over 350K, which means I still made over 300K on that one.

I was shorting a company, Quest software. I shorted a bunch and made 5-15k one time. Did it again and started getting squeezed. Then I started getting margin calls. Then I went to the bank with the title to my paid off viper and borrowed everything they gave me, as I was having to cover the short and I really believed the stock was overvalued. Well finally I sold me position and took the loss, I can't remember how much but somewhere between 40-80K. A week later the stock tanked, If I could have held out another week, I would have made a bunch.

Magellan was bought out by Gauss and I knew everything going on in the company. I put in over 100K of my own money and it tanked during the tech bust, I sold and got about 10K back. The president felt bad, because he talked a few of us sales guys into investing. Unfortunately, he and his partner lost 10's of millions on their stock.

I remember talking with my wife and considering selling all our stock, paying off our house, and buying another one for cash down the street. My buddies and I talked about it and I decided the returns in the market were much better, so why pay off the real estate? I took my portfolio and ran it up to over 1 million and managed to lose almost all of it, other than retirement accounts, I have less than 40K in the stock market. A fool and his money are soon parted and I was a fool.

Bitcoin and watching it move so reminded me of what many of us in tech were doing before the bust.

The good thing is I kept my house, was making good money in sales, and then finally real estate values went up, which helped my buy a business.

 

I was talking with my son about ripple this morning. It has investments from Santander and UBS and I think American Express is going to use it somehow.

 

This seems like the first cryptoccy that seems to have been well-thought out in terms of scalability and real world usage from the beginning. I'm gonna check this one out.

 

I have a friend that bought 1000 XRP the other day. Right now it's difficult to buy but it will soon be easier. If you are patient and learn how to buy some now it should be one of those early in type investments. Hopefully it'll be a better currency than BTC is desperately trying to be.

 

Counterpoint:

There’s always money to be made shorting a stock on the dead cat bounce

 

Haven't heard that one, so I will have to Google it. Other than retirement stuff I haven't played the stock market since I bought my business in 05. May be able to again some day, but hope to do it smarter than before.

I wanted to short bitcoin, but I remember how much it hurt last time I guessed wrong on a short.

 

Went to sign up on Gatehub to buy ripple with part of the christmas bonus I just got.

They want me to upload a copy of my drivers license (or passport) and a utility bill.

FUCK YOU very much!!!!!!

 

So/.... I've got $500 play money in my paypal account. Can anyone explain step-by-step how I might buy ripple (XRP) with that WITHOUT giving someone everything they would possibly need to have as much proof that they were me as I have?

 

Just Go buy lottery tickets if you're gonna do something stupid.

 

Meh.... lottery tickets are soooooooo 90s.

 

So were ponzi schemes but bitcoins are selling like vegas whores at an IT convention.

 

Seriously, though... I'ma either buy another 20 ounces of silver with it, or try some ripple. Or is it Boones Farm? Mad Dog?

Still trying to figure this shit out. It looks like I have to open an account on gatehub, then open an account on some authenticator thingy, then open an account somewhere else, then buy bitcoins there, then trade them for something on the authenticator thingy, then use whateverthefuckthatis to buy ripolles from gatehub. After I tell them my name, address, phone number, social security number, copy of my fingerprint, mother's maiden name, and how many sexual partners I've had since 6th grade.

 

So, out of curiosity......How Many?

 

Coinbase, buy bitcoins or ethereum, then setup binance or bittrex, buy ripple with your btc or eth. This is what i have gathered.

 

I like silver coins but love Krugerrands and American Eagles.

 

https://ripple.com/xrp/buy-xrp/