|
Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
|
Re: Is Bitcoin actually a good investment? [Re: Asante] 1
#24835387 - 12/09/17 08:34 AM (6 years, 1 month ago) |
|
|
I sold a few of those mirage coins recently and have some mirage cash. It looks real, serial numbers, watermark etc look right.
There are over 1300 shitcoins and more being invented daily. Only a few of them are worth anything and only about 2 or 3 alts have any substance or likelihood of remaining a major coin.
The market place has spoken and btc is the clear winner. The market does not worry that much about transaction fees or lag times. Right now coin is treated as an investment. You can't spend gold easily. If you want a loaf of bread you can't scrape off a little bit and buy it, there are fees to cash in or to buy gold, platinum, silver etc. There are fees to buy or sell stocks and you may have to wait to get the cash.
Before any cryptocoin can be used in everyday transactions like fiat it needs to clear faster. I think we all agree on that. Scaling upward will help, there are other ways to do it too. Clearing houses could pop up sort of like banks do with cc payments. If the sender has good credit then the payment goes through with zero confirmations. Second tier credit might require 1 conf, so so or poor credit might require more. With that and larger block sizes you just wave your phone and buy stuff.
Coin might hit 1 million when that happens, maybe higher. With the rise in price people might spend all month on groceries, gas, rent, etc and with the rise in value, their one coin might be worth more than it was at the start of the month. How many coins do you skeptics have? Oh thats right you never bought any when it was cheap like now so you will be getting a few satoshis at a time with your paycheck or govt check and spending them.
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
|
Asante
Mage


Registered: 02/06/02
Posts: 86,794
|
Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24835400 - 12/09/17 08:44 AM (6 years, 1 month ago) |
|
|
Quote:
Stonehenge said: I sold a few of those mirage coins recently and have some mirage cash. It looks real, serial numbers, watermark etc look right.
You can even buy krugerrands for them, which are realer than paper. That's not the point, the point is that its volatile as fuck. A crypto can shoot for the stars for one week and crash and burn the next week.
Right now theres 2 kind of money in bitcoins: people using it as money and people using it as an investment.
With the yee-haww volatility, lag and fees, more and more horse dildo merchants are offering alternatives to BTC like Ethereum. Those looking for horse dildo bargains are going to spread out to other crypto. Investment money will spread out too.
BE AHEAD OF THAT GAME.
Right now BTC is the world champion of crypto, undisputed, up 5 orders of magnitude. But it won't stay that.
Crypto is here to stay. People want their horse dildos, and they all hate the tax man and crypto offers ways to stay ahead of that game too.
Crypto will get bigger and bigger but it will inevitable spread out from mostly BTC to a basket of crypto currencies.
Pre-empt that.
BTC is happening now, it HAS moonshot. Still plenty of oomph to it but, the balance will shift.
Diversifying was and always has been, sound advice.
-------------------- Omnicyclion.org higher knowledge starts here
|
Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
|
Re: Is Bitcoin actually a good investment? [Re: Asante]
#24835427 - 12/09/17 09:05 AM (6 years, 1 month ago) |
|
|
I hear if you wish really hard it may happen. But meanwhile btc is here to stay and to stay on top.
Good luck with your 20 alt coins, too bad we didn't convince you back when btc was cheap. You would be riding that train right now waving your cowboy hat and hollering "WOO HOO!" using all kinds of drugs and buying $10k knives to give as xmas gifts. The little bit you may have now will do you good later
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
|
bacillus
Very Serious Mushronomer


Registered: 12/07/17
Posts: 394
Loc: Central Europe
|
Re: Is Bitcoin actually a good investment? [Re: Asante]
#24835440 - 12/09/17 09:12 AM (6 years, 1 month ago) |
|
|
What is now happening with Bitcoin is pure madness. It's a bubble, and it will burst. I find it strange that other cryptos, for example ETH, don't share the growth (actually, ETH has risen a bit, but nothing compared to BTC). In my mind it's a sign that people who buy BTC don't know much about BTC alternatives.
|
Asante
Mage


Registered: 02/06/02
Posts: 86,794
|
Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24835496 - 12/09/17 09:41 AM (6 years, 1 month ago) |
|
|
Quote:
bacillus said: people who buy BTC don't know much about BTC alternatives.
Everybody has eyes for the champion of today and only few are putting money on the future champions emerging in the ranks.
Simple math!
Imagine Bitcoin is 15K now. Try to imagine $150,000 bitcoin. Hard. Now look at Shitcoin at $0.02 now. Is it as hard to imagine it going to $0.20?
Quote:
Stonehenge said: too bad we didn't convince you back when btc was cheap. You would be riding that train right now waving your cowboy hat and hollering "WOO HOO!"
Yeah, too fucking bad. It wasn't because of lack of effort on Money Matters part, it was lack of effort on my part. The signbs were on the wall and I ignored them for almost as much years as orders of magnitude BTC grew in them
Now I'm doing my homework though and getting a lot more serious about this forum here. We had it right with gold. We had it right with bitcoin, but I wasn't on that train. Next train might just be a basket of crypto.
I have my basket of crypto, Bitcoin is among them, so I hoppped on BTC too, finally.
Lets all learn from each other.
Between Money Matters, we have a good team here, especially if we collaborated more systematically.
It would be damn interesting if Money Matters could evolve a centralized entity that maintains a communual portfolio and that shroomerites can buy into that fund on any level of investment. THAT would be interesting, because none of us can research and strategize like all of us, of that I'm convinced.
The Money Matters Fund that you lets say buy positions into in the Shroomery Store
-------------------- Omnicyclion.org higher knowledge starts here
|
Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
|
Re: Is Bitcoin actually a good investment? [Re: Asante]
#24835613 - 12/09/17 10:32 AM (6 years, 1 month ago) |
|
|
better late than never. Sorry to say but btc is doing the much anticipated pullback right now, down to 14k and dropping. Good time to buy more. Otoh, iota is now worth more than I paid for it.
hang in there and in a few years you will be smiling too, or much sooner
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
|
Asante
Mage


Registered: 02/06/02
Posts: 86,794
|
Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24835677 - 12/09/17 11:09 AM (6 years, 1 month ago) |
|
|
Quote:
Stonehenge said: better late than never.
I'll listen better next time 
Quote:
Stonehenge said: hang in there and in a few years you will be smiling too, or much sooner
Smiles are free, but yeah I totally anticipate face splitting grins in the near future.
Things are looking up.
-------------------- Omnicyclion.org higher knowledge starts here
|
ashfiken
TotalCrazyasshole


Registered: 09/06/06
Posts: 3,072
Loc: SCranton
Last seen: 1 hour, 17 minutes
|
Re: Is Bitcoin actually a good investment? [Re: Asante]
#24835869 - 12/09/17 12:26 PM (6 years, 1 month ago) |
|
|
Shroomerite staking pool!! FTW
Eryone get some eth and when it goes PoS with Casper release we will pool and stake them shits..
Cheers!
-------------------- hmm... "I'm naked and fearless... And my fear is naked." "life isn't worth living without the threat of death" "I got my plans in a ziploc bag, let's see how unproductive we can be" "nobody lives their lives fully except for bull fighters" My Trade List
|
ManianFH
living in perverty



Registered: 07/06/04
Posts: 14,741
Last seen: 15 hours, 4 minutes
|
Re: Is Bitcoin actually a good investment? [Re: Asante]
#24836060 - 12/09/17 01:59 PM (6 years, 1 month ago) |
|
|
Totally agree Asante. Just because we failed to capitalize on the BTC train, its not the end of potential financial profits. While I do agree with Stone that for the time being BTC is the coin volatility to attack (I mean look at the market dominance - 60%) and any losses from 19k are almost certain to rebound - there are other coins that profits from BTC investing can be put into.
For the time being I am just going to buy the fuck out of bitcoin and wait for it to jump back up. Somehow I would like to maintain my other positions, but theres just not enough money to do it all.... max out my credit cards?
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
|
chibiabos
Cosmic Pond Scum



Registered: 03/16/17
Posts: 4,180
Last seen: 10 months, 10 days
|
Re: Is Bitcoin actually a good investment? [Re: Stonehenge] 1
#24836529 - 12/09/17 06:20 PM (6 years, 1 month ago) |
|
|
Quote:
Stonehenge said: I sold a few of those mirage coins recently and have some mirage cash. It looks real, serial numbers, watermark etc look right.
By all means, it's a great time to sell. Don't kid yourself that this is some sort of an unstoppable trend though. There is not much in the way of evidence that the increase in bitcoin's current value is based on much else than the fact that people are willing to pay that much to buy it. There isn't really any evidence that the trend has any sort of momentum to speak of. If you've made a killing by getting into it early, then great for you. Otherwise you're probably better off keeping your money in the bank. Might not be a bad idea to start shifting it that way, if you've made a shitload of money by investing in bitcoin.
Also, if you've made a shitload of money through bitcoin then you're going to have to pay your taxes like you made a shitload of money, this year. So it's worth considering what tax bracket you'll fall into if you end up with a huge spike in your income...
|
Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
|
Re: Is Bitcoin actually a good investment? [Re: ManianFH]
#24836538 - 12/09/17 06:26 PM (6 years, 1 month ago) |
|
|
I happen to agree with asante and the others who are into alts. I'm looking into neo, possibly another one too. Already put some money into iota, have a few ether but the ones which are fairly new and cheap are the ones with much potential. BTC for the win but alts for a quick buck.
I talked with someone today about btc, happened to mention iota and he was very enthused, said buy all you can. He seemed to know a lot about alts. The only thing questionable was he thought aliens taught us to do bitcoin and that quantum computing would crack it soon. But lots of people say that, I think there are aliens too, not just muslims, but space aliens who have met with us.
@chi, yeah its good to grab some loot when it looks like its about to have another pullback which it seems to be doing. Right now I'm looking to buy back the coin I just sold but at a lower price. But its not going to zero now or anytime. When it hits 100k I may cash it all out and live like a king. Actually I could live a lot better than I do now but years of saving and scrimping and not spending much are hard habits to break
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
|
chibiabos
Cosmic Pond Scum



Registered: 03/16/17
Posts: 4,180
Last seen: 10 months, 10 days
|
Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24837786 - 12/10/17 01:52 PM (6 years, 1 month ago) |
|
|
Quote:
Stonehenge said: I talked with someone today about btc, happened to mention iota and he was very enthused, said buy all you can. He seemed to know a lot about alts. The only thing questionable was he thought aliens taught us to do bitcoin and that quantum computing would crack it soon. But lots of people say that, I think there are aliens too, not just muslims, but space aliens who have met with us.
Honestly, I've yet to meet somebody who was super enthusiastic about bitcoin who could actually tell me how it worked or where its value even came from. If your the value of your cryptocurrency can balloon this quickly then it's fair to assume that it can implode just as quickly (if not faster). A lot of people seem to be looking at bitcoin as some sort of a secure investment, but if it was ever a secure investment then the value wouldn't have skyrocketed like it is now.
|
TheMule73
Stranger


Registered: 08/26/11
Posts: 1,797
|
Re: Is Bitcoin actually a good investment? [Re: Asante]
#24838493 - 12/10/17 08:56 PM (6 years, 1 month ago) |
|
|
Quote:
Asante said:
Quote:
bacillus said: people who buy BTC don't know much about BTC alternatives.
Everybody has eyes for the champion of today and only few are putting money on the future champions emerging in the ranks.
Simple math!
Imagine Bitcoin is 15K now. Try to imagine $150,000 bitcoin. Hard. Now look at Shitcoin at $0.02 now. Is it as hard to imagine it going to $0.20?
Quote:
Stonehenge said: too bad we didn't convince you back when btc was cheap. You would be riding that train right now waving your cowboy hat and hollering "WOO HOO!"
Yeah, too fucking bad. It wasn't because of lack of effort on Money Matters part, it was lack of effort on my part. The signbs were on the wall and I ignored them for almost as much years as orders of magnitude BTC grew in them
Now I'm doing my homework though and getting a lot more serious about this forum here. We had it right with gold. We had it right with bitcoin, but I wasn't on that train. Next train might just be a basket of crypto.
I have my basket of crypto, Bitcoin is among them, so I hoppped on BTC too, finally.
Lets all learn from each other.
Between Money Matters, we have a good team here, especially if we collaborated more systematically.
It would be damn interesting if Money Matters could evolve a centralized entity that maintains a communual portfolio and that shroomerites can buy into that fund on any level of investment. THAT would be interesting, because none of us can research and strategize like all of us, of that I'm convinced.
The Money Matters Fund that you lets say buy positions into in the Shroomery Store 
Check out IOTA to add to your portfolio if you haven't already.
|
Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
|
Re: Is Bitcoin actually a good investment? [Re: TheMule73]
#24838507 - 12/10/17 09:05 PM (6 years, 1 month ago) |
|
|
Another one I was told about is ada currently under a cent. I'm looking at neo too, its already up to about 35. I might get more iota
-------------------- “A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835) Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755
|
chibiabos
Cosmic Pond Scum



Registered: 03/16/17
Posts: 4,180
Last seen: 10 months, 10 days
|
Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24838663 - 12/10/17 10:27 PM (6 years, 1 month ago) |
|
|
I just realized that bitcoin has pretty much set the stage for literally privatizing the whole fucking economy. 
GoogleGDP, anyone?
|
qman
Stranger

Registered: 12/06/06
Posts: 34,927
Last seen: 23 hours, 34 minutes
|
Re: Is Bitcoin actually a good investment? [Re: chibiabos]
#24839743 - 12/11/17 02:52 PM (6 years, 1 month ago) |
|
|
https://www.hiveblockchain.com/
Anyone know about this company? They mine several crypto currencies and profit from transactions.
I think it's a great diversified play into the crypto currency market, they already have huge sponsorship with large financial institutions.
They also have a great balance sheet with good cash flow, I can see money pouring into this stock down the road.
It's still a very small company based on market capitalization, I'm going to be a buyer here!!
|
blackout


Registered: 07/16/00
Posts: 5,266
Last seen: 2 months, 23 days
|
Re: Is Bitcoin actually a good investment? [Re: qman]
#24842378 - 12/12/17 04:42 PM (6 years, 1 month ago) |
|
|
I have not read up a lot about them, simply want a quick answer to this. https://en.wikipedia.org/wiki/Bitcoin
Quote:
In the early days, Nakamoto is estimated to have mined 1 million bitcoins
This site says Bitcoin (USD) Price $17,153.92
So does this mean Nakamoto can cash that million bitcoins in for $17,153,920,000 tomorrow? I would guess not, so what is the actual reality for people holding huge amounts from early on. There are said to be only 21million bitcoins to be possible made. I am not certain but it seems like many of these may be "lost" and will not be ever realized as being "lost".
This site hseems to suggest there is a cap, and the 1m bitcoins is less than the $17billion I mentioned ttps://www.cnbc.com/2017/12/12/litecoin-price-hits-record-high-up-nearly-5800-percent-this-year.html
Quote:
Litecoin is a cryptocurrency founded by Charlie Lee. It's the fourth-largest digital currency by market capitalization or value behind bitcoin cash, Ethereum and bitcoin. Its market cap stands at around $14.4 billion, compared to $282.8 billion for bitcoin
|
ashfiken
TotalCrazyasshole


Registered: 09/06/06
Posts: 3,072
Loc: SCranton
Last seen: 1 hour, 17 minutes
|
Re: Is Bitcoin actually a good investment? [Re: blackout] 1
#24843119 - 12/13/17 12:40 AM (6 years, 1 month ago) |
|
|
Idk of any cap but that is the thesis with Bitcoin at its worth if mr. N were to cash in his/her/their coins it would propel said entity to the Forbes list. However from my reading much speculation on the fact that the coins are in fact lost-untouchable and that evidence would suggest so since there has been no activity on/from that wallet since.. Many early adopters lost keys or hard drives or another means of loss of access.. This prospectively makes the scant 21m worth more if we suppose this.. It's all priced in the market id reckon.. Which is bonkers this market is bonkers. I love it and I love its ideals. I greatly support decentralization and the ability to economize outside of current fiat systems. We are in for a ride I think with this tech and I can't wait for it to knock us loose of traditional financial systems.. Which for awhile will be a hybrid.. See what's being done by large banks on ethereum and also platforms like ripple dash and monero. It's an amazing space. People are adopting. Right now it's merely a way to gain fiat for most but I see something bigger on the horizon...
Cheers
-------------------- hmm... "I'm naked and fearless... And my fear is naked." "life isn't worth living without the threat of death" "I got my plans in a ziploc bag, let's see how unproductive we can be" "nobody lives their lives fully except for bull fighters" My Trade List
|
LightRay
Lord Hubert


Registered: 07/18/17
Posts: 598
Last seen: 5 years, 9 months
|
Re: Is Bitcoin actually a good investment? [Re: ashfiken]
#24843223 - 12/13/17 03:46 AM (6 years, 1 month ago) |
|
|
Quote:
BE AHEAD OF THAT GAME.
BTC is happening now, it HAS moonshot. Still plenty of oomph to it but, the balance will shift.
Diversifying was and always has been, sound advice.
I do agree with this, despite me being all for bitcoin I do think that its only at the top because its at the top... When people realise that other coins like ether are better bitcoins gonna fall back IMO.
When that will happen though... anyones guess. Its still too early days, people are still awakening to bitcoin.
My other worry for bitcoin is that central banks all over arr either researching or creating their own cryptos - they are gonna use the blockchain tech and this will replace the current banking system but I'm wondering how the banks are going to attack this.
In the past they have all conspired to cause some mass panic. I'm guessing they will try this again in attempt to shift people to their central bank coins.
-------------------- The secret to life is to put positive loving energy Into every thought and action you do <3 Be Aware. Believe. Be here now Everything is a reflection of ones self. Of God and you are God. All is conscious. All is consciousness. There is no death, only life. Your mission is to raise your vibration and every one else around you. Open Your Mind!
Edited by LightRay (12/13/17 05:58 AM)
|
bacillus
Very Serious Mushronomer


Registered: 12/07/17
Posts: 394
Loc: Central Europe
|
Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24843533 - 12/13/17 09:33 AM (6 years, 1 month ago) |
|
|
Quote:
Stonehenge said: I happen to agree with asante and the others who are into alts.
Looks like ETH, LTC and a whole lot of others took off.
|
|