Did you buy Bitcoin and your thoughts

Originally Posted By: Wolf359
As to the later parts, that's why there are those out there that say it's a bubble, there's hundreds of coins out there and may thousands. Because it's open source, you can just take it and create your own coin if you'd like. Just no one would be following it initially.


https://en.wikipedia.org/wiki/Bitcoin_Cash
 
Originally Posted By: Barkleymut
I wish that i was smart enough to understand cryptocurrencies fully. Until I do I will be a casual observer.


Would you be happy buying gold, and then stashing it somewhere safe around your house, burying it in your yard where nly you know ?

Or having a crypto wallet and password on a USB stick that no-one knows about, and only you know...hidden somewhere in your house or buried in your yard ?

At least someone some day will find your gold stash, hopefully your family...as opposed to hackers in the other realm.
 
I use HitBTC and Binance for most of my trading, and purchase through CoinBase. As is the way with all investing, dont invest more than you can afford to lose. Blockchain technology is here to stay along with cryptocurrency. Some governments are trying to ban it (unlikely) and some are embracing it completely, one country sold about 100 mil of bit to pay for infrastructure upgrades. Even with this recent dip (buy buy buy) im up over 700% from May when I started investing. Ethereum was 7$ on 1/2/17 now its pushing 1200$ a year later. I also see plenty of places in my area that accept bit, lite, ether and ripple, and theres more and more bitcoin ATMs popping up everyday. I have a sign on my door to the shop saying "Bit, Lite, eth etc accepted here."
https://i.redd.it/fv9lzh4z3r501.jpg

If anyone is looking for some relatively amateur advice, Id get into Ripple (XRP) roughly 1.50 a coin now, as the treasury is deciding on this coin as the US coin. Also teaming up with Amazon, and possible AliBaba, but just speculative for now. People are estimating its max value at 10-12$, with the absolute highest being 20$ because of the amount of coin available.
 
Quote:
If anyone is looking for some relatively amateur advice, Id get into Ripple (XRP) roughly 1.50 a coin now, as the treasury is deciding on this coin as the US coin. Also teaming up with Amazon, and possible AliBaba, but just speculative for now. People are estimating its max value at 10-12$, with the absolute highest being 20$ because of the amount of coin available.


The "whole ideal" for crypto is to NOT have a "government regluated currency" No to Ripple.
 
Originally Posted By: Wolf359
Originally Posted By: 69GTX
When they say "no more will be mined" who is going to ensure that? The 10 people that own 90% of them? The mining companies? The US Attorney General? It comes down to trust. The US Treasury can literally say they will print no more "physical" US Federal Reserve notes (fiat). Yet they can keystroke an unlimited number of them and move then back and forth. We'll never know as they publish the accounting data as well along with OCC/BEA/FED/etc. Now that the big banks can trade futures/options on bitcoins, expect them to take their share and fleece the little guys on fabricated market swings.

And even if there is a limit on a particular bit coin....there is NO LIMIT on how many different coins can come into existence. Last I checked I think the most popular coin was 65-85% of the market. There are now a thousand more different coins/entities. What if they all ramp up to the $100 BILL level? It's similar to one country having 1000 competing currencies but "limits" on how many of each there can be. For the world, only about half dozen fiat currencies are major players (USD, Euro, Pound, Yen, Yuan, Cando, Aussie Dollar).


It's open source. It's in the source code. They kinda have to agree on things. Not sure exactly about the process of it forking off into different directions.

As to the later parts, that's why there are those out there that say it's a bubble, there's hundreds of coins out there and may thousands. Because it's open source, you can just take it and create your own coin if you'd like. Just no one would be following it initially.


I don't think that's what open source mean. It only means you can create one and not get sued by the copy right holder. It doesn't mean everyone who's using it now cannot get together and change the design for future revision.
 
Originally Posted By: Shannow
Huge amount of energy just peed up the wall for literally nothing.

Energy is probably the ideal book keeping concept for value. Maybe all prices should be in joules.
wink.gif
 
Originally Posted By: PandaBear
Originally Posted By: Wolf359
Originally Posted By: 69GTX
When they say "no more will be mined" who is going to ensure that? The 10 people that own 90% of them? The mining companies? The US Attorney General? It comes down to trust. The US Treasury can literally say they will print no more "physical" US Federal Reserve notes (fiat). Yet they can keystroke an unlimited number of them and move then back and forth. We'll never know as they publish the accounting data as well along with OCC/BEA/FED/etc. Now that the big banks can trade futures/options on bitcoins, expect them to take their share and fleece the little guys on fabricated market swings.

And even if there is a limit on a particular bit coin....there is NO LIMIT on how many different coins can come into existence. Last I checked I think the most popular coin was 65-85% of the market. There are now a thousand more different coins/entities. What if they all ramp up to the $100 BILL level? It's similar to one country having 1000 competing currencies but "limits" on how many of each there can be. For the world, only about half dozen fiat currencies are major players (USD, Euro, Pound, Yen, Yuan, Cando, Aussie Dollar).


It's open source. It's in the source code. They kinda have to agree on things. Not sure exactly about the process of it forking off into different directions.

As to the later parts, that's why there are those out there that say it's a bubble, there's hundreds of coins out there and may thousands. Because it's open source, you can just take it and create your own coin if you'd like. Just no one would be following it initially.


I don't think that's what open source mean. It only means you can create one and not get sued by the copy right holder. It doesn't mean everyone who's using it now cannot get together and change the design for future revision.


I'm not sure what you think I'm referring to. When I referred to open source, I was referring to how the source code can be seen by anyone who would like to look at it so those conspiracy theories about things can be changed with just a keystroke wouldn't be true. Also never said that it couldn't be changed, that's the process of it forking.
 
Originally Posted By: Vern_in_IL
Quote:
If anyone is looking for some relatively amateur advice, Id get into Ripple (XRP) roughly 1.50 a coin now, as the treasury is deciding on this coin as the US coin. Also teaming up with Amazon, and possible AliBaba, but just speculative for now. People are estimating its max value at 10-12$, with the absolute highest being 20$ because of the amount of coin available.


The "whole ideal" for crypto is to NOT have a "government regluated currency" No to Ripple.


I was thinking the same thing about non government interference.
 
So what's the advantage of having your bit coins worth $20,000 when this thread started....to the $7,500 they're worth this past week? That's in only 35 days. An average drop of $350/day.

Some "wallet." It would appear you need leverage protection via futures, etc. just to hold them. For those students figuring on Bitcoin for 2nd semester tuition....ouch.
 
Originally Posted By: Audios
I also see plenty of places in my area that accept bit, lite, ether and ripple, and theres more and more bitcoin ATMs popping up everyday. I have a sign on my door to the shop saying "Bit, Lite, eth etc accepted here."
https://i.redd.it/fv9lzh4z3r501.jpg

How many such transactions has your shop made?

How many have the other "plenty" places made?
 
The bad news keeps building. But every time it gets crushed, it seems to bounce back up a little bit, now it's about 1k over it's previous low which was in the $7600 range. I know a guy who says he likes to dabble in it, spends about $50 buying some small fraction every few weeks. Hardly seems worth it.
 
Note the "coincidence" as Bitcoins started being slammed just around the time in mid-December when the SEC/CFTC allowed Bitcoin futures to be traded on the US commodity/currency exchanges. Can you say "short-selling?" Perfect timing to allow them to peak....then take them down. Some "investors" will now never touch them again. Reminds me of how the US Govt allowed the public to start buying gold bullion again on Dec 31st, 1974....following a 40 yr restriction. And that was the exact peak to the day of a 4 year rally....then followed by a 45% - 1-1/2 yr correction into August 1977.
 
Originally Posted By: Garak
Some surely did.
wink.gif



Odds are they'll never talk about it though.
 
Let's hope that we hear from these folks:

Originally Posted By: CourierDriver
The bitcoin rage is supposed to be the new money highway to making millions,,anyone got any infor,,there is plenty on youtube, Amazon is looking at it so we can pay for our stuff.



Originally Posted By: alarmguy

My personal belief is these coins, the good ones, truly help the "little" guy.

It scares the heck out of banks and money institutions and some governments because they can not control what you do and they are not the middle man taking a slice of what you spend or save.

These coins were "invented" to be a world currency that could not be controlled by Wall Street banks, money managers and governments of repressive countries.

They truly to help the little guy control his/her own money, I see nothing wrong with that and if people would research it, they would see they were given a gift.

Its driving Wall Street NUTs, all the banks NUTS, the little guy won this battle, countless million airs born without the banks being the middleman, and again, it allows people in impoverished repressive countries to be free from that repression.

(todays thoughts :eek:)


And my favorite:

Originally Posted By: alarmguy
Originally Posted By: Astro14
Sure, cryptocurrency may change the world.

Stop touting this as an investment.

It's not. It's gambling. You're conflating "revolutionary idea" with "good place for your money".

As far as it being currency, well...since no one is actually buying anything with it right now, it fails the basic test of a currency. It's not a medium of exchange at all.


Your wrong on all counts and clearly do not understand what investing is about and your certainly no expert on what classifies as an investment nor do you understand cryptocurrency.
 
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