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CLIT
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Is Bitcoin actually a good investment?
#24369815 - 06/02/17 03:12 AM (6 years, 7 months ago) |
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I just read this article titled:
If you bought $100 of bitcoin 7 years ago, you'd be sitting on $72.9 million now after new record high
https://finance.yahoo.com/news/bought-100-bitcoin-7-years-081422112.html
So if I bought $100 of bitcoin 7 years ago, I would have $72.9 million dollars of real money or nothing more than just "value" on paper? What could I actually buy with 72.9 million dollars worth of bitcoins other than darknet drugs? Although, to my surprise I've seen some retailers online that actually accept bitcoins now, like Sweetwater (they sell musical instruments, etc.). So would the $100 investment actually be worth $72.9 million dollars of real, spendable money?
I have not bought or used bitcoins before so where do I actually buy it?
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Kryptos
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Re: Is Bitcoin actually a good investment? [Re: CLIT]
#24377454 - 06/04/17 06:24 PM (6 years, 7 months ago) |
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What's the difference between real money and "value" on paper? If my computer screen says I have $100 in my bank, that is not significantly different from a crisp new hundred.
Yes, the article is saying that you could have bought bitcoins 7 years ago for 100$, and then sold them today for ~70 mil. That would then become real, spendable, money that you can give the cashier at the store.
Where to buy bitcoins is up to you. Google "bitcoin exchange". It's a bit like walking into a bank and buying foreign currency. Well, the online version of walking into a bank, at least. Personally, I use coinbase as it is the biggest exchange, and theoretically more stable than others. Not sure about posting referral links here what with forum rules, but PM me and I'll send ya a link that will give you $10 worth of bitcoin for signing up.
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ChRnZN
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Re: Is Bitcoin actually a good investment? [Re: CLIT]
#24377533 - 06/04/17 06:50 PM (6 years, 7 months ago) |
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That figure does not represent any real indication of where the bitcoin market is going in the future. The fact is we don't know where it is going, just like we didn't know where it was going 7 years ago.
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Kryptos
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Re: Is Bitcoin actually a good investment? [Re: ChRnZN]
#24377637 - 06/04/17 07:23 PM (6 years, 7 months ago) |
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I'd argue that is true only in the most technical sense of the word. Just like how the sun could just spontaneously nova us out of existence.
the fact is, that articles like that, with big, 8 figure profit margins, drive interest, and interest drives investment, which then drives the price up. Remember that jump to 2800? that was (I believe) caused by that one celebrity gambler, Dan Blitzkrieger or something like that, tweeting or instagrammming about his buying of bitcoin. Within two hours after his social media post to his 8 figure follower count, bitcoin jumped 600$ in price, and the trading volume doubled. Of course, shortly thereafter, it crashed back to it's usual price, as the market corrected itself.
I'm sure Dan cashed out before the followup drop, and now happily counts his follower's money in his bank account.
My overall point is that as more articles like this get published, more people are going to get interested, and more people are gonna lose money. This money is all there for you to take.
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LogicaL Chaos
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Re: Is Bitcoin actually a good investment? [Re: CLIT]
#24378513 - 06/05/17 04:43 AM (6 years, 7 months ago) |
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Its a currency that u exchange real money with.
My coworker just explained why $100 of bitcoins 7 years ago is now worth 7 million. Its basically because the bitcoins had to be split into multiple parts and so if u bought one bitcoin for $100 7 years ago, u would have like 1000 bitcoins today or something like that.
Bitcoins are a very very long set of numbers that need to be deciphered by computers basically. And with each transaction, they get longer and longer.....
Not too many places use bitcoin, but that will change over time. More places will accept it. But for now its in a new niches like RC drugs, darknet drugs and some businesses too. I even heard it mentioned on a millionaire dollar real estate tv show.
-------------------- "What you must understand is that your physical dimension affects everyone in the higher dimensions as well. All things are interconnected. All things are One. Therefore, if one dimension is broken or out of balance, then all other dimensions will experience repercussions." - Pleiadian Prophecy 2020 The New Golden Age by James Carwin PROJECT BLUE BOOK ANALYSIS! (312 pages!) | Psychedelics & UFOs | Ready to Contact UFOs? | The Source on Mushrooms | Trippy Gematrix | Dj TeknoLogical | Fentanyl Test Kits R.I.P. Big Worm || The Start of the Ascension Process was 2020. Welcome to the Next Great Era of Earth 🌎🌍🌏
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demiu5
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Re: Is Bitcoin actually a good investment? [Re: Kryptos]
#24378702 - 06/05/17 07:12 AM (6 years, 7 months ago) |
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Quote:
Kryptos said: I'd argue that is true only in the most technical sense of the word. Just like how the sun could just spontaneously nova us out of existence.
the fact is, that articles like that, with big, 8 figure profit margins, drive interest, and interest drives investment, which then drives the price up. Remember that jump to 2800? that was (I believe) caused by that one celebrity gambler, Dan Blitzkrieger or something like that, tweeting or instagrammming about his buying of bitcoin. Within two hours after his social media post to his 8 figure follower count, bitcoin jumped 600$ in price, and the trading volume doubled. Of course, shortly thereafter, it crashed back to it's usual price, as the market corrected itself.
if anything this proves that bitcoin is just as susceptible to drastic, quick rises and falls based on rumor/speculation, just like any other stock/commodity/currency. it doesn't prove or even suggest that it will continue to increase in market price
-------------------- channel your inner Larry David
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qman
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Re: Is Bitcoin actually a good investment? [Re: demiu5] 1
#24379267 - 06/05/17 10:36 AM (6 years, 7 months ago) |
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You have to ask yourselves why these crypto-currencies are making all-times highs? It's not just a game of chicken taking place, it's the beginning of the rejection of government currencies.
People in China, Japan and other places in the world are looking for a place to get out of cash, so far it has been these crypto-currencies.
So I believe there are actual fundamentals behind these upward moves, that doesn't mean these things won't get overvalued at some point down the road.
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Kryptos
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Re: Is Bitcoin actually a good investment? [Re: qman]
#24379296 - 06/05/17 10:49 AM (6 years, 7 months ago) |
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Quote:
LogicaL Chaos said: Its a currency that u exchange real money with.
My coworker just explained why $100 of bitcoins 7 years ago is now worth 7 million. Its basically because the bitcoins had to be split into multiple parts and so if u bought one bitcoin for $100 7 years ago, u would have like 1000 bitcoins today or something like that.
Bitcoins are a very very long set of numbers that need to be deciphered by computers basically. And with each transaction, they get longer and longer.....
Nope. False. All of that is false (except the first sentence). Bitcoins do not multiply. The best real world analogy to bitcoins is probably gold or other precious metal investments. As for transactions and bitcoins getting longer, that's just a bastardization of the blockchain idea. The point is that the blockchain is a complete ledger of every single transaction, and a bitcoin is a unit of, effectively, processing power (CPU) or "work", where computers will calculate out the blockchain and generate bitcoins as a result according to a specific mathematical formula that I don't understand, but will continue to generate bitcoins up until ~2140. At this point, there should be 21 million total bitcoins in circulation. Compare that to today's 16.3 million, and some of the price increases make a lot more sense.
Quote:
demiu5 said:
Quote:
Kryptos said: [quote deleted for readability, go up two posts]
if anything this proves that bitcoin is just as susceptible to drastic, quick rises and falls based on rumor/speculation, just like any other stock/commodity/currency. it doesn't prove or even suggest that it will continue to increase in market price
Yes. However, as history has shown, stocks don't go down in price over time. If I dumped all my money on the stock market in 2006, literally the day before the crash, I would be looking at profit by selling today. Assuming, of course, that I was invested in a broad index fund that tracked the whole market, and not a company or three that went under.
Quote:
qman said: You have to ask yourselves why these crypto-currencies are making all-times highs? It's not just a game of chicken taking place, it's the beginning of the rejection of government currencies.
People in China, Japan and other places in the world are looking for a place to get out of cash, so far it has been these crypto-currencies.
So I believe there are actual fundamentals behind these upward moves, that doesn't mean these things won't get overvalued at some point down the road.
A good chunk of the reasoning behind the sudden jump at the beginning of May was likely the adoption of bitcoin as a legal currency by Japan in April. China, on the other hand (and its population), has significantly reduced its bitcoin holdings (I wanna say from ~55% of all the bitcoin to about 10% now, read something about that a bit ago). This is caused by increased bitcoin regulation and a nationwide crackdown on bitcoin exchanges. Of course, I'm pretty sure that the rich still are buying up a bunch of bitcoins...
I think Trump is another reason for the bitcoin jump. His inability to deliver on the most basic of republican deregulation promises (and healthcare, and tax reform...) has caused the stock market to stop rising, and his more recent policies have sent the dollar into a downward spiral. This raises the bitcoin price, as even if the "true value" didn't change, relative to the dollar, it did.
Things are more than likely going to be overvalued several times down the road. Again, that 2800 spike comes to mind. On the other hand, bitcoin has continued to rise steadily since the correction to 2100, and is almost back there again.
Edited by Kryptos (06/05/17 10:52 AM)
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qman
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Re: Is Bitcoin actually a good investment? [Re: Kryptos]
#24379347 - 06/05/17 11:18 AM (6 years, 7 months ago) |
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"caused the stock market to stop rising"
http://www.marketwatch.com/story/dow-briefly-sets-intraday-record--joining-sp-500-and-nasdaq--in-choppy-trade-2017-06-02 The Dow, SP 500 and Nasdaq all hit all-time highs last week.
"dollar into a downward"
Yep, the dollar has traded lower lately, but that move doesn't account for the spike in bitcoin this year.
I think the most important aspect is the potential trend it's forecasting, the rejection of government based currencies. In my opinion, gold and silver will be in next beneficiaries of this trend.
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Kryptos
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Re: Is Bitcoin actually a good investment? [Re: qman]
#24381096 - 06/05/17 10:34 PM (6 years, 7 months ago) |
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Quote:
qman said: "caused the stock market to stop rising"
http://www.marketwatch.com/story/dow-briefly-sets-intraday-record--joining-sp-500-and-nasdaq--in-choppy-trade-2017-06-02 The Dow, SP 500 and Nasdaq all hit all-time highs last week.
"dollar into a downward"
Yep, the dollar has traded lower lately, but that move doesn't account for the spike in bitcoin this year.
I think the most important aspect is the potential trend it's forecasting, the rejection of government based currencies. In my opinion, gold and silver will be in next beneficiaries of this trend.
Haven't paid much attention to the stock market index after the Comey firing, I just noticed that it seemed to bounce back less and less after every scandal, and it didn't bounce back all the way after Comey.
I think it is far too early to tell if this is a trend toward rejecting government currency, because bitcoin, and cryptocurrency as a whole, is worth maybe a quarter of a trillion dollars (very generous), compared to even a conservative estimate as to the value of all the currency, which comes in at a quarter of a quadrillion, or three orders of magnitude greater.
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CLIT
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Re: Is Bitcoin actually a good investment? [Re: ChRnZN]
#24409504 - 06/16/17 05:24 AM (6 years, 7 months ago) |
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So it could go either way: down or up?
If $20 of "real money" is worth less than what I could buy that with as bitcoins, then it's a no brainer, that it's best to buy bitcoins. If that's how it works?
I've seen the bitcoin sign in a liquor store/lottery convenience store.
Quote:
Noodle473 said: That figure does not represent any real indication of where the bitcoin market is going in the future. The fact is we don't know where it is going, just like we didn't know where it was going 7 years ago.
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ChRnZN
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Re: Is Bitcoin actually a good investment? [Re: CLIT]
#24409576 - 06/16/17 06:43 AM (6 years, 7 months ago) |
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It could go either way, yes. I say that mainly because we don't know what the future holds. $20 does not get you more when you buy bitcoins unless you invest, wait, and end up making a profit with bitcoin.
Here's a newer headline that opposes some of the ideas in the first one posted in this thread
https://finance.yahoo.com/news/bitcoin-tumbling-111600081.html
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CLIT
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Re: Is Bitcoin actually a good investment? [Re: Kryptos]
#24409761 - 06/16/17 08:26 AM (6 years, 7 months ago) |
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so if one is to say that having 10 gmail accounts is worth $10 million dollars, it becomes the truth?
Quote:
Kryptos said:
Quote:
qman said: "caused the stock market to stop rising"
http://www.marketwatch.com/story/dow-briefly-sets-intraday-record--joining-sp-500-and-nasdaq--in-choppy-trade-2017-06-02 The Dow, SP 500 and Nasdaq all hit all-time highs last week.
"dollar into a downward"
Yep, the dollar has traded lower lately, but that move doesn't account for the spike in bitcoin this year.
I think the most important aspect is the potential trend it's forecasting, the rejection of government based currencies. In my opinion, gold and silver will be in next beneficiaries of this trend.
Haven't paid much attention to the stock market index after the Comey firing, I just noticed that it seemed to bounce back less and less after every scandal, and it didn't bounce back all the way after Comey.
I think it is far too early to tell if this is a trend toward rejecting government currency, because bitcoin, and cryptocurrency as a whole, is worth maybe a quarter of a trillion dollars (very generous), compared to even a conservative estimate as to the value of all the currency, which comes in at a quarter of a quadrillion, or three orders of magnitude greater.
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CLIT
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Re: Is Bitcoin actually a good investment? [Re: LogicaL Chaos]
#24409770 - 06/16/17 08:30 AM (6 years, 7 months ago) |
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Had I bought bitcoin 7 years ago worth $100 and if a home seller decides to sell me his house for $1 million, and knowing that I have several millions in bitcoin, I could easily get his house then? So it's a matter of what's acceptable at the current time?
Quote:
LogicaL Chaos said: Its a currency that u exchange real money with.
My coworker just explained why $100 of bitcoins 7 years ago is now worth 7 million. Its basically because the bitcoins had to be split into multiple parts and so if u bought one bitcoin for $100 7 years ago, u would have like 1000 bitcoins today or something like that.
Bitcoins are a very very long set of numbers that need to be deciphered by computers basically. And with each transaction, they get longer and longer.....
Not too many places use bitcoin, but that will change over time. More places will accept it. But for now its in a new niches like RC drugs, darknet drugs and some businesses too. I even heard it mentioned on a millionaire dollar real estate tv show.
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CLIT
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Re: Is Bitcoin actually a good investment? [Re: CLIT]
#24409786 - 06/16/17 08:43 AM (6 years, 7 months ago) |
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I'm curious if these companies accepting bitcoin as payment are opportunists who see the (over) value in bitcoin? I've seen legitimate companies accepting bitcoins as payment, like re-sellers of music instruments and local liquor stores and lottery stores.
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amp244
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Re: Is Bitcoin actually a good investment? [Re: CLIT] 1
#24410585 - 06/16/17 03:35 PM (6 years, 7 months ago) |
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Bitcoins are like anything that is traded in the market. The supply and demand dictates the value of them. The thing about bitcoins, despite them being another currency that is backed by nothing, is that the people who created them wrote the computer programs so that there will be a finite amount of bitcoins that can ever be mined. There is no governing body with the ability to just expand its supply for whatever reason at anytime, nobody has a monopoly on the currency, and the system is transparent.
Now that there is a growing demand for the currency (Japan has now adopted bitcoin as legal tender) and only a finite amount of possible units, the value has increased.
There are hundreds of other crypto-currencies based on the same block-chain systems. Some have unique features and could possibly displace bitcoin as the crypto-currency "gold-standard".
There is lots of uncertainty; and where there is uncertainty, there is money to be made.
-------------------- How to Convert a Normal 24-hour Light Timer into a Short Cycle Repeating Timer "Monopoly, besides, is a great enemy to good management, which can never be universally established but in consequence of that free and universal competition which forces everybody to have recourse in it for the sake of self-defense." -Adam Smith
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CLIT
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Re: Is Bitcoin actually a good investment? [Re: amp244]
#24417986 - 06/19/17 02:46 PM (6 years, 7 months ago) |
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Since bitcoin is a "digital currency", how do I use it to pay for goods in a physical store? Do I get a card where my bitcoin value are stored or do I give a PIN # or some kind of code or what? I really don't know how it works. Is it physical as well or is it entirely digital?
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LogicaL Chaos
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Re: Is Bitcoin actually a good investment? [Re: CLIT]
#24418521 - 06/19/17 05:51 PM (6 years, 7 months ago) |
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Its all digital dude. Bitcoin debit card LOL. Those dont exist yet. Its basically payal, only encypted.
Not sure what stores accept it, but u take from your "digital wallet" to pay for stuff.
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CLIT
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Re: Is Bitcoin actually a good investment? [Re: LogicaL Chaos]
#24421849 - 06/20/17 07:37 PM (6 years, 7 months ago) |
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paypal has physical cards now. LOL.
one liquor store I came across shows they accept bitcoin. So if I were to pay for goods there, do I pay from my "digital wallet" to their "digital wallet"? Is it an app?
Quote:
LogicaL Chaos said: Its all digital dude. Bitcoin debit card LOL. Those dont exist yet. Its basically payal, only encypted.
Not sure what stores accept it, but u take from your "digital wallet" to pay for stuff.
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CLIT
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Re: Is Bitcoin actually a good investment? [Re: CLIT]
#24421879 - 06/20/17 07:46 PM (6 years, 7 months ago) |
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Is the rise and fall of value based on how many people are buying and selling it kinda like the stock market, but it's not a stock market, right? From what I understand for something to be in the stock market, it has to be a company or a business. Does bitcoin or other cryptocurrency then falls under as a "commodity" much like gold?
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amp244
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Re: Is Bitcoin actually a good investment? [Re: CLIT] 1
#24423588 - 06/21/17 11:21 AM (6 years, 7 months ago) |
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it is treated technically under the IRS as personal property, sort of like gold and silver, which are capital assets. When you make an exchange involving gold silver or the cryptocurrency, you have a taxable gain or loss, that must be reported if that gain or loss is "material". Material meaning, significant enough to be reported. you would report an $8000 gain(in USD) on the purchase of a new Jeep Wrangler with Bitcoin. But you would not report a $0.20 gain on the purchase of a pack of gum with Bitcoin.
Crypto currencies are traded on exchanges much like stocks, but the crypto exchanges are open 24/7 baby! the buy and sell orders do dictate the value of it in real time, in terms of U.S dollars, like stocks. The difference being that stocks represent ownership interests in companies, which manage assets and/or operations of some sort. They include voting rights, and pay dividends in some cases. you are also liable for the debts of the company, limited to the extent of your share. Bitcoin and like instruments are designed to be currencies: vehicles for exchange, instruments of commerce. Many are also designed to be finite in quantity, and therefore deflationary in a growing economy (if accepted as currency). As a result speculators are coming from far and wide to speculate on both the short-term and long-term.
-------------------- How to Convert a Normal 24-hour Light Timer into a Short Cycle Repeating Timer "Monopoly, besides, is a great enemy to good management, which can never be universally established but in consequence of that free and universal competition which forces everybody to have recourse in it for the sake of self-defense." -Adam Smith
Edited by amp244 (06/21/17 12:23 PM)
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Kryptos
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Re: Is Bitcoin actually a good investment? [Re: CLIT]
#24424384 - 06/21/17 04:39 PM (6 years, 7 months ago) |
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Quote:
CLIT said: paypal has physical cards now. LOL.
one liquor store I came across shows they accept bitcoin. So if I were to pay for goods there, do I pay from my "digital wallet" to their "digital wallet"? Is it an app?
Quote:
LogicaL Chaos said: Its all digital dude. Bitcoin debit card LOL. Those dont exist yet. Its basically payal, only encypted.
Not sure what stores accept it, but u take from your "digital wallet" to pay for stuff.
Yep. Pretty much. Never used bitcoin to pay for physical goods myself, but I know a guy who's used a bitcoin ATM where he basically keyed in his account info and got USD out at current exchange rates. Some hippy gas station out in Washington or Oregon a few years back.
Quote:
CLIT said: Is the rise and fall of value based on how many people are buying and selling it kinda like the stock market, but it's not a stock market, right? From what I understand for something to be in the stock market, it has to be a company or a business. Does bitcoin or other cryptocurrency then falls under as a "commodity" much like gold?
Legally, I'm not quite certain, but it is definitely not considered currency by the IRS. I believe that it is considered a commodity, but with similar rules and regulations as those that apply to stock. I am also not certain of legal differences between stock and gold, as far as I know you pay capital gains tax on both.
It is considered currency in Japan though!
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amp244
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Re: Is Bitcoin actually a good investment? [Re: Kryptos]
#24426137 - 06/22/17 09:08 AM (6 years, 7 months ago) |
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They actually tax long-term gains of gold and silver at 28%, which is damn near twice the regular capital gains tax.
Gold and Silver used to be legal tender in the United States, much like bitcoin is now in Japan. We could be on the brink of something that will change the course of history. Nobody can be certain how it will all shake out, but crypto-currencies have the potential to displace the present day currencies of the world. Just about every country in the modern world manages a currency by fiat, with no actual physical commodity backing it. Much like Bitcoin, the only thing that gives value to the dollars we spend, is the fact that others accept it. If people stop using a currency to exchange, the currency is worth nothing. Crypto-currencies could gain favor to the demise of our current currencies.
This is a problem I see with the USD, but it is also a problem that has the potential to effect bitcoin as well. Emerging cryptocurrencies are legion, and even though bitcoin is finite, the competing currencies, which do the exact same thing, can actually inflate, or reduce, the value of bitcoin; but it really all depends on acceptance. If people reject new competing currencies, and trust in the ingenious, no-management style of bitcoin or litecoin, the new currencies could restore good fiscal management to the governments of all nations. If the market forces countries to back their currencies in bitcoin, they will not be able to fund costly and wasteful programs, because their credit will be limited. Those who save money, would not see it inflated away, but rather appreciate to an extent according to the growth in the world economy.
-------------------- How to Convert a Normal 24-hour Light Timer into a Short Cycle Repeating Timer "Monopoly, besides, is a great enemy to good management, which can never be universally established but in consequence of that free and universal competition which forces everybody to have recourse in it for the sake of self-defense." -Adam Smith
Edited by amp244 (06/22/17 09:10 AM)
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twoones
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Re: Is Bitcoin actually a good investment? [Re: amp244]
#24426721 - 06/22/17 01:57 PM (6 years, 7 months ago) |
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very good response.
Currency by fiat is ridiculous. The benefit of crypto currencies is the decentralized system and the mechanical nature of their supply absolutely.
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: amp244]
#24497330 - 07/20/17 09:02 PM (6 years, 6 months ago) |
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Excellent info in this thread. Amp, you are well informed
Once people see the fraud that has been put on them by govt inflating currency, they will flock to cryptocoins. That will stop a large part of govt theft, they will keep coming up with new ways to do it. But fiat has been a multi trillion dollar scam for too long and its time is ending someday.
-------------------- “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
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Kryptos
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24497606 - 07/20/17 11:15 PM (6 years, 6 months ago) |
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Nah, inflation is good. Inflation keeps the economy going. Overall, it also equalizes the world. $7k used to buy you a nice house, now it buys you a used car. This levels the playing field for the young'uns who don't have a massive fortune (Read: $100 in 1700s money).
Inflation also keeps people active in the market. Wealth generates wealth, so if there was absolutely no inflation, You would eventually have three rockefellers or Rothschilds (by the way, anyone see they're apparently the first trillionaires?) or Carnegie-Mellons, and they'd permanently run the world. Or, more realistically, everyone else would just stop using bitcoin because it is absurdly expensive, and suddenly they would become worthless.
I'm thinking that around 2140, you'll wanna start getting out of bitcoin.
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amp244
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Re: Is Bitcoin actually a good investment? [Re: Kryptos]
#24499343 - 07/21/17 05:46 PM (6 years, 6 months ago) |
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Inflationary monetary policy is what has created huge wealth inequality.
When the U.S. wants to spend $6 billion/year on wars, or bail out a major lending institution, they realize that raising taxes directly would be quite unfavorable. They instead find recourse in creating the money; or what's worse - they have a system of private banks create the money and lend it to them. Instead of seeing a line on your paycheck that says "War Tax" or "Freddy Mac bailout", they just clandestinely fund these endeavors by confiscating your savings. They confiscate your savings by making your money worth less. They make your money worth less by inflating the currency. The allocation of the new currency into the hands of the elite is what creates the inequality. Instead of bailing out the lending and mortgaging institutions, it would have been better to bailout the homeowners, but that isn't where they wanted the wealth to go.
I haven't heard sound justification on why our standard monetary policy shouldn't be to attempt to match the increases in the money supply, to the rate of economic growth. No amount of additional money can ever increase the existing capital in an economy. Additional money, over and above what is necessary for circulating the goods in services in the economy, can only divert that capital into channels which it otherwise would not have gone.
-------------------- How to Convert a Normal 24-hour Light Timer into a Short Cycle Repeating Timer "Monopoly, besides, is a great enemy to good management, which can never be universally established but in consequence of that free and universal competition which forces everybody to have recourse in it for the sake of self-defense." -Adam Smith
Edited by amp244 (07/21/17 06:15 PM)
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amp244
Sporocarp Stretching


Registered: 08/05/08
Posts: 1,336
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Re: Is Bitcoin actually a good investment? [Re: amp244]
#24499388 - 07/21/17 06:13 PM (6 years, 6 months ago) |
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https://blog.bitmain.com/en/uahf-contingency-plan-uasf-bip148/
Anyone interested in bitcoin needs to read this. There is some serious shit set to go down with bitcoin on Aug 1st.
There seems to be some centralization and planning taking place as there are programmers and other big players who have agreed to develop a plan to scale-up bitcoin in the future. From what I have gathered, though I lack the intimate blockchain knowledge needed to fully understand it, is that they are going to be "forking" the blockchain intentionally (UASF). Others have made a plan to block that fork, by forking again (UAHF). Coinbase recently sent out an email saying that they were not going to comply with the "User Activated Hard Fork" and that anyone with bitcoin in Coinbase needs to remove it before AUG 1 if they intend to have access to both moieties of the split, as coinbase has made its mind up in the event that the UAHF activates.
But like I said, its really hard for me to understand all of this for want of a computer science degree. That is some esoteric shit in that article.
-------------------- How to Convert a Normal 24-hour Light Timer into a Short Cycle Repeating Timer "Monopoly, besides, is a great enemy to good management, which can never be universally established but in consequence of that free and universal competition which forces everybody to have recourse in it for the sake of self-defense." -Adam Smith
Edited by amp244 (07/21/17 07:40 PM)
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amp244
Sporocarp Stretching


Registered: 08/05/08
Posts: 1,336
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Re: Is Bitcoin actually a good investment? [Re: amp244]
#24499539 - 07/21/17 07:41 PM (6 years, 6 months ago) |
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This will really help clear up all of the confusion.
https://bitcointalk.org/index.php?topic=2012799.0
Although after reading through the thread, they have already addressed this issue (I'm not going to get into it) and Aug 1st might be averted.
Perhaps the news caused a bit of an overreaction, the markets have been a little wild lately.
Edited by amp244 (07/21/17 07:52 PM)
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Kryptos
Stranger

Registered: 11/01/14
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Re: Is Bitcoin actually a good investment? [Re: amp244]
#24514008 - 07/28/17 01:12 PM (6 years, 5 months ago) |
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Interestingly, the markets seem to have calmed pre-fork. I am surprised by this, I was expecting the 1800-2700 swing to be the beginning in some crazy value shifts around the fork, but it seems to have settled.
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: Kryptos]
#24514367 - 07/28/17 04:44 PM (6 years, 5 months ago) |
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I was able to buy today at a small discount. I have over 46 btc now. I may rue the day I bought them or it may be a wise move. Coin has gone up some today, nearly 2800 now. I either clean up or go down with the ship. Actually I already cleaned up, I'm just reinvesting some of my profit in hopes of more. Cue evil laugh HA HA HA HA HA
-------------------- “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
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24514755 - 07/28/17 07:24 PM (6 years, 5 months ago) |
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-------------------- Anxiety is what you make it.
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ManianFH
living in perverty



Registered: 07/06/04
Posts: 14,741
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24515238 - 07/29/17 12:12 AM (6 years, 5 months ago) |
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Quote:
Stonehenge said: I was able to buy today at a small discount. I have over 46 btc now. I may rue the day I bought them or it may be a wise move. Coin has gone up some today, nearly 2800 now. I either clean up or go down with the ship. Actually I already cleaned up, I'm just reinvesting some of my profit in hopes of more. Cue evil laugh HA HA HA HA HA
So youre going to hold regardless of fork? I suppose you will be credited with 46 Bitcoin Cash as well. Could be a wise move, especially long term.
-------------------- 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."
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nooneman


Registered: 04/24/09
Posts: 14,555
Loc: Utah
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Re: Is Bitcoin actually a good investment? [Re: CLIT]
#24515377 - 07/29/17 02:54 AM (6 years, 5 months ago) |
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Bitcoin and things like it are meaningfully technologically superior to existing monetary systems and will eventually replace them in the long run. But you're talking a very long time from now.
Right now, bitcoin is practically useless, and is overvalued IMO, and due for a correction.
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TheFakeSunRa
Bitch Splitter



Registered: 03/01/05
Posts: 16,449
Loc: Dirdy SOUF
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Re: Is Bitcoin actually a good investment? [Re: nooneman]
#24515520 - 07/29/17 06:41 AM (6 years, 5 months ago) |
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https://www.google.com/amp/www.cnbc.com/amp/2017/07/26/billionaire-investor-marks-who-called-the-dotcom-bubble-says-bitcoin-is-a-pyramid-scheme.html
Quote:
In my view, digital currencies are nothing but an unfounded fad (or perhaps even a pyramid scheme), based on a willingness to ascribe value to something that has little or none beyond what people will pay for it," Marks wrote in the investor letter Wednesday.
Ignoring the pyramid scheme part of his comment, isn't the rest essentially true for most investments? I mean if you buy stock, invest in currency, buy collectible baseball cards... all those things only have value if other people are willing to pay for them. So what's the difference?
-------------------- [quote]Asante said: You constantly make posts thatr fling middle school insults at people you don't like mixed in with maladjusted psychopathic comments about wanting to beat up the other poster with a crowbar. You know how shit you are, you just don't give a fuck for precisely that reason. I disendorse you.[/quote]
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Stonehenge
Alt Center


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Re: Is Bitcoin actually a good investment? [Re: TheFakeSunRa]
#24515684 - 07/29/17 08:36 AM (6 years, 5 months ago) |
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>all those things only have value if other people are willing to pay for them
Exactly, same as with gold, diamonds, bitcoins, etc.
>Bitcoin and things like it are meaningfully technologically superior to existing monetary systems and will eventually replace them in the long run. But you're talking a very long time from now.
If the world economy has a major shake up and fiat takes a nose dive, it may not take as long as some people think. Its already taking the place of fiat in certain areas. One problem with btc taking over all money is the fact there is so little coin available. Out of 21 million there might be 10 million in circulation right now, just guessing. Many coins were lost when wallets were lost or have not been mined yet. Each coin would have to be worth a billion dollars to do the job. People would be spending a fraction of a satoshi.
I don't think it will go that far but I really doubt it will crash and I'm bullish on the future. I have no idea if btcc will do much. Don't leave your coin on an exchange when tuesday comes, keep it in a private wallet. The btcc might be worth just as much and that doubles the supply of coin available though I don't think btcc will be worth a lot right away. May be a few cents at first just like btc was.
-------------------- “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
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TheFakeSunRa
Bitch Splitter



Registered: 03/01/05
Posts: 16,449
Loc: Dirdy SOUF
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24515706 - 07/29/17 08:50 AM (6 years, 5 months ago) |
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-------------------- [quote]Asante said: You constantly make posts thatr fling middle school insults at people you don't like mixed in with maladjusted psychopathic comments about wanting to beat up the other poster with a crowbar. You know how shit you are, you just don't give a fuck for precisely that reason. I disendorse you.[/quote]
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ManianFH
living in perverty



Registered: 07/06/04
Posts: 14,741
Last seen: 15 hours, 3 minutes
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Re: Is Bitcoin actually a good investment? [Re: TheFakeSunRa]
#24515770 - 07/29/17 09:31 AM (6 years, 5 months ago) |
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I bought coin on CB with a credit card within the month
-------------------- 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."
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TheFakeSunRa
Bitch Splitter



Registered: 03/01/05
Posts: 16,449
Loc: Dirdy SOUF
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Re: Is Bitcoin actually a good investment? [Re: ManianFH]
#24515780 - 07/29/17 09:36 AM (6 years, 5 months ago) |
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What about selling it?
-------------------- [quote]Asante said: You constantly make posts thatr fling middle school insults at people you don't like mixed in with maladjusted psychopathic comments about wanting to beat up the other poster with a crowbar. You know how shit you are, you just don't give a fuck for precisely that reason. I disendorse you.[/quote]
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: TheFakeSunRa]
#24515791 - 07/29/17 09:45 AM (6 years, 5 months ago) |
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Avoid coinbase, use localbitcoins or paxful. CB keeps all your info and hands it over to the govt.
Btc-e shut down and ran off with the money, when will cb do the same? Many people say they have been scammed already by cb
-------------------- “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
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ManianFH
living in perverty



Registered: 07/06/04
Posts: 14,741
Last seen: 15 hours, 3 minutes
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24516900 - 07/29/17 07:59 PM (6 years, 5 months ago) |
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I used to use BTC-e and probably still would be if they dealt with Feathercoin. Must be a tragic feeling for people who had funds locked up in the exchange. I am shocked that the price of cryptos haven't skipped a beat.
-------------------- 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."
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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24516904 - 07/29/17 08:00 PM (6 years, 5 months ago) |
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The guy who ran BTC-E got picked up by the FBI in Greece. I don't think they intended to shut down, rather the USA is going after him for helping launder billions of dollars in Bitcoin in their 6 year history.
I don't know what to think of this Bitcoin Cash thing. Is it going to gain enough momentum to go anywhere? Are miners going to want to mine it? If it's only worth a couple hundred bucks is even going to be worth it for miners?
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amp244
Sporocarp Stretching


Registered: 08/05/08
Posts: 1,336
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Re: Is Bitcoin actually a good investment? [Re: sh4d0ws]
#24518233 - 07/30/17 02:10 PM (6 years, 5 months ago) |
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Just make sure you get your coin off of a bank/exchange, like coinbase, and into a wallet, like bittrex. Bittrex has agreed to honor both coins https://support.bittrex.com/hc/en-us/articles/115004479127-Statement-about-potential-Bitcoin-hard-fork
This way no matter what the market decides, your coins are safe.
-------------------- How to Convert a Normal 24-hour Light Timer into a Short Cycle Repeating Timer "Monopoly, besides, is a great enemy to good management, which can never be universally established but in consequence of that free and universal competition which forces everybody to have recourse in it for the sake of self-defense." -Adam Smith
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: amp244]
#24518272 - 07/30/17 02:32 PM (6 years, 5 months ago) |
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@amp, you recommend bittrex? Have you used it yourself and for how long? I plan to keep mine in electrum and then see what happens when the dust settles.
Avoid coinbase
-------------------- “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
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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: Is Bitcoin actually a good investment? [Re: sh4d0ws]
#24519469 - 07/30/17 11:30 PM (6 years, 5 months ago) |
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Quote:
sh4d0ws said: The guy who ran BTC-E got picked up by the FBI in Greece. I don't think they intended to shut down, rather the USA is going after him for helping launder billions of dollars in Bitcoin in their 6 year history.
I don't know what to think of this Bitcoin Cash thing. Is it going to gain enough momentum to go anywhere? Are miners going to want to mine it? If it's only worth a couple hundred bucks is even going to be worth it for miners?
I heard this guy who owned BTC-E might have had something to do with the mt gox hacking or the laundering of the coins? Don't know if that info is accurate
I don't have many bitcoins but I'll be keeping them in electrum as well then if I do want my bitcoin cash I'll be able to get them, if they don't go to shit first
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: sh4d0ws]
#24520656 - 07/31/17 03:01 PM (6 years, 5 months ago) |
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I've been on a buying binge lately with bitcoin even though it was up in price. I just looked and it now some 2860 per coin, a nice increase since I bought already. Looks like I was right so far anyway. Tomorrow is the forkus in the dorkus, remains to be seen what happens but with price rising I expect good things.
In addition to price going up, there is the side chain which means we will get a bch coin for each btc we own at the fork. Those could be a bonanza, I plan to invest a lot in them too. I have over 48 btc at the moment, might switch to investing mostly in bch after the split. Probably will wait until the selloff to pick them up.
-------------------- “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
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amp244
Sporocarp Stretching


Registered: 08/05/08
Posts: 1,336
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24520715 - 07/31/17 03:25 PM (6 years, 5 months ago) |
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Quote:
Stonehenge said: @amp, you recommend bittrex? Have you used it yourself and for how long? I plan to keep mine in electrum and then see what happens when the dust settles.
Avoid coinbase
I've just recently entered the crypto market within the passed two months and I've used bittrex all the while.
I've had no problems with it, though I've traded moderately. I originally wanted a poloniex, but they wouldn't allow me to deposit etherium at the time, so I got the bittrex.
-------------------- How to Convert a Normal 24-hour Light Timer into a Short Cycle Repeating Timer "Monopoly, besides, is a great enemy to good management, which can never be universally established but in consequence of that free and universal competition which forces everybody to have recourse in it for the sake of self-defense." -Adam Smith
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: amp244]
#24520744 - 07/31/17 03:38 PM (6 years, 5 months ago) |
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I will look into bittrex, is it easy to put cash into it? I don't like doing bank wires or being limited to a few hundred $ per week ach. They trade btc and eth both? Maybe they will handle bch too?
I did a recount and have even more coins than I thought, forgot about my most recent purchase.
Bch is around 299 on the futures market. I think that is a little high, I would love to plunge in at a lower price.
-------------------- “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
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Tulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
Posts: 11,109
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24521083 - 07/31/17 06:01 PM (6 years, 5 months ago) |
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Bitcoin: Capped at 21 million coins, EVER, in production.............until WE decide to fork the chain and double to 42 million coins, EVER, until we decide to fork each chain resulting in 84 million coins, EVER, rinse and repeat.
BTC is good for a laugh
Let us not forget that BTC is valued in FIAT currency.
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: Tulipslave]
#24521237 - 07/31/17 07:04 PM (6 years, 5 months ago) |
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No, bitcoin has not doubled. The segwit branch will be btc and the other branch bch. The thing is those new coins were given free to present btc holders. Unlike when govt prints up more cash and distributes it only to the fat cats and to keep govt bloated and ignoring reality. If govt increases the money supply 10% via qe, do you get 10% more of the cash you already have? No, you get nothing so its not the same at all
Wait till your fiat collapses in value from rapid inflation when the financial hijinks come home to roost. You will wish your money had been in btc or gold, or anything solid rather than fiat.
-------------------- “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
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Is Bitcoin actually a good investment? [Re: Tulipslave]
#24521241 - 07/31/17 07:05 PM (6 years, 5 months ago) |
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Quote:
Tulipslave said: Bitcoin: Capped at 21 million coins, EVER, in production.............until WE decide to fork the chain and double to 42 million coins, EVER, until we decide to fork each chain resulting in 84 million coins, EVER, rinse and repeat.
BTC is good for a laugh
GS has the patent on this. What more can be said other than yeah it's a fucked ordeal waiting to happen. Digital currency has been the wet dream of the elite and the BTC nonsense is their test run. Then to make people believe this construct has value, because it is going up in price? HA HA.
I don't get it either.
Let us not forget that BTC is valued in FIAT currency.
-------------------- Anxiety is what you make it.
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qman
Stranger

Registered: 12/06/06
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Re: Is Bitcoin actually a good investment? [Re: Tulipslave]
#24521496 - 07/31/17 08:55 PM (6 years, 5 months ago) |
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Quote:
Tulipslave said: Bitcoin: Capped at 21 million coins, EVER, in production.............until WE decide to fork the chain and double to 42 million coins, EVER, until we decide to fork each chain resulting in 84 million coins, EVER, rinse and repeat.
BTC is good for a laugh
Let us not forget that BTC is valued in FIAT currency.
Gold is now priced in US dollars as well, I'll be happier when dollars are priced in gold.
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Kryptos
Stranger

Registered: 11/01/14
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24522525 - 08/01/17 10:32 AM (6 years, 5 months ago) |
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Quote:
TheFakeSunRa said: What about selling it?
How would it get credited to your account without an account routing number?
Quote:
Stonehenge said: Avoid coinbase, use localbitcoins or paxful. CB keeps all your info and hands it over to the govt.
Btc-e shut down and ran off with the money, when will cb do the same? Many people say they have been scammed already by cb
I haven't heard of anyone being scammed by CB...I've only heard glowing reviews (along with my own experience). I also have trouble believing that the current largest exchange is gonna pull an exit scam. Compared to every other exchange, CB would have a lot more people out for blood.
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
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Re: Is Bitcoin actually a good investment? [Re: Kryptos]
#24522719 - 08/01/17 12:33 PM (6 years, 5 months ago) |
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It's not so much an issue of exit scam, as it is the cumbersome way in which Coinbase internally regulates the process of procuring and transferring BTC, in addition to a limited number of trading tools compared to other exchanges (if active trading is your thing). In particular, they blacklist certain wallets for gambling, darknets, etc... so if you move coins to/from your Coinbase account from any of these blacklisted wallets, they will ban you from their platform. This doesn't mean they will steal the coins you have there, but you may face a delay in retrieving them.
I've used Coinbase for quite some time, but I moved all of my coins off of their exchange as soon as I read that they would not support the Bitcoin Cash (BCC) fork of the original Bitcoin (BTC) blockchain that went into effect earlier this morning. It's an insult to their customers not to credit them with an equal amount of BCC, since BCC is using the original BTC blockchain data up until the fork, thus preserving the entire history of BTC transactions, and so everyone who held BTC at the time of the fork necessarily holds BCC on the new BCC fork.
At worst, what Coinbase did could be considered outright theft. Afeterall, other exchanges like Kraken had no problem crediting my account with BCC this morning (and I can easily copy my private BTC wallet keys to a new BCC client to claim the corresponding BCC coins; although this should be done only after moving the BTC coins to a new BTC wallet in order to mitigate risk of someone attempting to reply the transaction).
It might sound a bit confusing, but the bottom line is that if you owned coins on the BTC blockchain as of this morning when the BCC blockchain forked off, you should own an equal number of BCC coins. At the time of this writing, these BCC coins are trading at around $200 a piece. So Coinbase, by denying their clients their rightful claim on BCC coins equivalent to their BTC holdings, has just landed a huge windfall in the amount of ~$200 for every BTC in their possession. Put plainly, it just seems like a big "fuck you" to their clients.
--------------------
-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: geokills]
#24522784 - 08/01/17 01:16 PM (6 years, 5 months ago) |
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Like I said... scammers. And there are plenty of stories out there of people saying they got robbed by cb long before this.
-------------------- “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
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Kryptos
Stranger

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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24523733 - 08/01/17 09:51 PM (6 years, 5 months ago) |
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Quote:
geokills said: It's not so much an issue of exit scam, as it is the cumbersome way in which Coinbase internally regulates the process of procuring and transferring BTC, in addition to a limited number of trading tools compared to other exchanges (if active trading is your thing). In particular, they blacklist certain wallets for gambling, darknets, etc... so if you move coins to/from your Coinbase account from any of these blacklisted wallets, they will ban you from their platform. This doesn't mean they will steal the coins you have there, but you may face a delay in retrieving them.
I've used Coinbase for quite some time, but I moved all of my coins off of their exchange as soon as I read that they would not support the Bitcoin Cash (BCC) fork of the original Bitcoin (BTC) blockchain that went into effect earlier this morning. It's an insult to their customers not to credit them with an equal amount of BCC, since BCC is using the original BTC blockchain data up until the fork, thus preserving the entire history of BTC transactions, and so everyone who held BTC at the time of the fork necessarily holds BCC on the new BCC fork.
At worst, what Coinbase did could be considered outright theft. Afeterall, other exchanges like Kraken had no problem crediting my account with BCC this morning (and I can easily copy my private BTC wallet keys to a new BCC client to claim the corresponding BCC coins; although this should be done only after moving the BTC coins to a new BTC wallet in order to mitigate risk of someone attempting to reply the transaction).
It might sound a bit confusing, but the bottom line is that if you owned coins on the BTC blockchain as of this morning when the BCC blockchain forked off, you should own an equal number of BCC coins. At the time of this writing, these BCC coins are trading at around $200 a piece. So Coinbase, by denying their clients their rightful claim on BCC coins equivalent to their BTC holdings, has just landed a huge windfall in the amount of ~$200 for every BTC in their possession. Put plainly, it just seems like a big "fuck you" to their clients.
Cumbersome transactions and clumsy trading tools is most definitely a matter of opinion. Yes, if you're a day trader, CB is likely not the platform for you. There are exchanges specifically for that, with generally higher fees. You can't rally fault a company for deciding to limit their business, much like I can't really fault you for deciding I'm a retard and should be ignored as long as you don't interfere with my life.
Again, I have not had a single bad experience with CB. I am not a day trader. I'm maybe a weekly trader, tops, and I don't mind waiting three days for my money to show up. Even though they say that the account credit should take 5 days to a week, I've never had it take longer than two and change.
They did also send out multiple emails to every customer informing them of this. I got one last month, two weeks ago, and another 3-4 days ago. If you consider that scamming, then...I mean, how? It's like if a con man came up to you and said "Hi, I'm a conman, and I plan on screwing you over! Wanna be friends?" And then reminded you that he was a conman planning to screw you the next three times you hung out. Scamming involves some sort of duping or misdirection. Define: scam (google) "a dishonest scheme; a fraud". I see no dishonesty on their part.
If they decided to not honor BCC without telling anyone about it, then yes. I would be right there next to you calling them scammers, but they didn't. It's like calling CB scammers because they don't trade in ripple while other exchanges do. Or calling me a scammer because I say I'm a chemist but have almost no clue about anything involving transition metals. Like, yeah, I don't know *all* of chemistry, I focus on organic synthesis.
Also, somewhat relevant:
Quote:
Stonehenge said: Avoid coinbase, use localbitcoins or paxful. CB keeps all your info and hands it over to the govt.
Btc-e shut down and ran off with the money, when will cb do the same? Many people say they have been scammed already by cb
Coinbase has taken the IRS to court claiming that their request for information is a fishing expedition and that they will not comply with an illegal order. While I don't think they have officially sued the IRS over the order, they have backed customers in their lawsuits, and has said that it will join as a plaintiff if the IRS does not retract their information request.
http://insidebitcoins.com/news/coinbase-versus-irs-irs-concedes-first-round/62496
Edited by Kryptos (08/01/17 09:56 PM)
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geokills
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Re: Is Bitcoin actually a good investment? [Re: Kryptos]
#24524338 - 08/02/17 08:15 AM (6 years, 5 months ago) |
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Quote:
Kryptos said: Cumbersome transactions and clumsy trading tools is most definitely a matter of opinion. Yes, if you're a day trader, CB is likely not the platform for you. There are exchanges specifically for that, with generally higher fees. You can't rally fault a company for deciding to limit their business
I'm not faulting them for that decision, it is simply a limit of functionality, and of course, for people who aren't interested in trading and want a streamlined method to obtain the major crypto coins, Coinbase has been a fine solution. As previously noted, I have been a client of theirs and have previously recommended them to others.
Quote:
They did also send out multiple emails to every customer informing them of this [not supporting the Bitcoin Cash fork]. I got one last month, two weeks ago, and another 3-4 days ago. If you consider that scamming, then...I mean, how? ... If they decided to not honor BCC without telling anyone about it, then yes. I would be right there next to you calling them scammers, but they didn't. It's like calling CB scammers because they don't trade in ripple while other exchanges do.
The problem is that whether or not they want to "support" bitcoin cash, they technically hold the coins regardless. In a somewhat similar manner as to a traditional stock split, if you own 50 shares of a stock and the company decides to split the shares 2:1, you are automatically entitled to own a total of 100 shares after the split. In this bitcoin blockchain split, every wallet address technically owns coins on both chains at the time of the split. This is non-negotiable, it is just a simple fact. The problem is that Coinbase now owns these new coins (regardless of what they say), and is not allowing their customers access to them. At the time of this writing, these new Bitcoin Cash coins are trading at $650 a piece. That's not chump change, especially for a company that holds hundreds of thousands of these coins which are being wilfully withheld from their clients.
Now I don't think Coinbase is necessarily going to hold these coins forever. If history is any guide, they tried to do this with the Ethereum fork, but ultimately did allow customers to withdraw the Ethereum Classic coins that were created. I can't imagine that they will be allowed to withhold what, at present value amounts to at least hundreds of millions of dollars worth of bitcoin cash which should belong to their clients. If they do try to pull that, there will be class action lawsuits without a doubt.
Followup: Fortune.com: Coinbase Faces Backlash, Legal Risk Over Bitcoin Cash
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amp244
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Re: Is Bitcoin actually a good investment? [Re: geokills]
#24528736 - 08/03/17 10:53 PM (6 years, 5 months ago) |
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Yea coinbase is way out of line with this. People should have access to their coin. Yea they sent out emails communicating their intentions and giving official notice. They have properly covered their asses.
-------------------- How to Convert a Normal 24-hour Light Timer into a Short Cycle Repeating Timer "Monopoly, besides, is a great enemy to good management, which can never be universally established but in consequence of that free and universal competition which forces everybody to have recourse in it for the sake of self-defense." -Adam Smith
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amp244
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24528744 - 08/03/17 10:55 PM (6 years, 5 months ago) |
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Quote:
Stonehenge said: I will look into bittrex, is it easy to put cash into it? I don't like doing bank wires or being limited to a few hundred $ per week ach. They trade btc and eth both? Maybe they will handle bch too?
It does have USD exchanges, though I haven't used them. I've always deposited coin from other exchanges into my bittrex wallet.
-------------------- How to Convert a Normal 24-hour Light Timer into a Short Cycle Repeating Timer "Monopoly, besides, is a great enemy to good management, which can never be universally established but in consequence of that free and universal competition which forces everybody to have recourse in it for the sake of self-defense." -Adam Smith
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nooneman


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Re: Is Bitcoin actually a good investment? [Re: amp244]
#24528831 - 08/03/17 11:18 PM (6 years, 5 months ago) |
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Coinbase actually IS giving their customers their rightful BCC. They were never going to just not give customers their BCC. Having said that, I'm not the biggest fan of coinbase, but they are in fact storing their customer's BCC and will be allowing access in the near future when they implement BCC on their network.
BCC is just another altcoin though. Never going to go anywhere. If I was to buy an alt coin, it wouldn't be BCC.
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ManianFH
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Re: Is Bitcoin actually a good investment? [Re: nooneman]
#24529001 - 08/04/17 01:13 AM (6 years, 5 months ago) |
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Insane how a coin just appears out of thin air and is valued at $1000. What in the fuck? Stonehenge I hope you sold all that shit you'd be sitting on 50k free money.
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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howsyournaggerdoin
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Re: Is Bitcoin actually a good investment? [Re: ManianFH]
#24529041 - 08/04/17 02:18 AM (6 years, 5 months ago) |
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Implying anyone is actually buying this shit at 1k$
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Kryptos
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Re: Is Bitcoin actually a good investment? [Re: nooneman]
#24529538 - 08/04/17 09:52 AM (6 years, 5 months ago) |
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Quote:
nooneman said: Coinbase actually IS giving their customers their rightful BCC. They were never going to just not give customers their BCC. Having said that, I'm not the biggest fan of coinbase, but they are in fact storing their customer's BCC and will be allowing access in the near future when they implement BCC on their network.
BCC is just another altcoin though. Never going to go anywhere. If I was to buy an alt coin, it wouldn't be BCC.
I have a distinct (and quite possibly flawed, I hope) feeling that a good chunk of their reasoning there was public outcry...
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ManianFH
living in perverty



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Quote:
howsyournaggerdoin said: Implying anyone is actually buying this shit at 1k$
That was the exchange price. I mean people's bids and asks were going at that level.
-------------------- 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."
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pivotingpenguin


Registered: 08/04/17
Posts: 1,126
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2 [Re: CLIT] 1
#24529646 - 08/04/17 10:38 AM (6 years, 5 months ago) |
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Post deleted by Bitcoin<p>Reason for deletion: none
Edited by pivotingpenguin (10/21/17 08:59 PM)
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Stonehenge
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The highest I ever saw bcc at was about 500 and good luck selling any at that price. Now its down quite a bit, around 200. I plan to buy more when things settle a little. People are dumping it because they got it free and want to cash in. Its an offshoot of btc so it will go up in the long run, imo
-------------------- “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
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24531982 - 08/05/17 09:50 AM (6 years, 5 months ago) |
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Well well well, btc hit over 3200 today and is hovering in the 3100s as we speak. Far from crashing, bitcoin is soaring ever higher. My investments have paid off once again. I own well over 50 coins now, I picked up several yesterday alone. Time to rub my hands together and cackle with glee. Get on board before it hits the moon.
-------------------- “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
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qman
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24532004 - 08/05/17 09:58 AM (6 years, 5 months ago) |
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Quote:
Stonehenge said: Well well well, btc hit over 3200 today and is hovering in the 3100s as we speak. Far from crashing, bitcoin is soaring ever higher. My investments have paid off once again. I own well over 50 coins now, I picked up several yesterday alone. Time to rub my hands together and cackle with glee. Get on board before it hits the moon.
Many investors in the precious metals sector have turned very bullish on Bitcoin and other crypto currencies the past 2 years.
The breakout of Bitcoin and others is good for gold/silver, it shows what's going to happen down the road.
I have heard of some pretty high levels that these guys are predicting for Bitcoin, 6 figures and higher.
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: qman]
#24532089 - 08/05/17 10:34 AM (6 years, 5 months ago) |
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Yep, the naysayers and haters have been proven wrong time and time again. Yes there has been fluctuation and btc price has fallen a few times but never by much and then it always shoots back up and goes to new heights like it did today. I bought quite a few around 2700, I was sticking my neck out cause it could go back down but I'm bullish on the long run.
In a few years people will be saying "I could have bought when it was $3200 now its $22,000" Then years later they will say they could have bought when it was 22k and now its ...
Meanwhile, ether is languishing at 244. It too is probably a good investment. B grade rather than A+ grade like btc
-------------------- “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
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geokills
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Re: Is Bitcoin actually a good investment? [Re: nooneman]
#24532214 - 08/05/17 11:30 AM (6 years, 5 months ago) |
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Quote:
Stonehenge said: The highest I ever saw bcc at was about 500 and good luck selling any at that price. Now its down quite a bit, around 200.
On Kraken, it topped out the morning of issuance at around $800, but volume was painfully low as the exchange was getting hammered and thus practically unusable. By the time I could place orders, I unloaded at $450 per BCH coin. Unfortunately, the coins in my private wallet are sidelined as there was no option to fund exchange accounts with BCH when they started trading.
In fact, it was because of this artificially low liquidity that I felt it was prudent to unload whatever I could. Coinbase was holding millions of BCH that couldn't be moved, private wallets were sidelined in a similar manner, so only isolated pockets of trade could take place on exchanges that immediately credited client accounts with the new coin. It was pretty much a no brainer to sell it ASAP.
Quote:
nooneman said: Coinbase actually IS giving their customers their rightful BCC. They were never going to just not give customers their BCC. Having said that, I'm not the biggest fan of coinbase, but they are in fact storing their customer's BCC and will be allowing access in the near future when they implement BCC on their network.
As for Coinbase, . It was a boner move and a public relations nightmare. I mean, they're saying that the estimated release date for BCH on their exchange will be in January 2018 . Maybe customers get lucky and the forced holding period will allow BCH to increase in value to epic proportions... or maybe miners will give up on the forked blockchain and it will be practically worthless by then. Probably something in between. In either case, the coins exist and any exchange with their client's best interest in mind would make the coins available to said clients as soon as humanly possible. I'm happy with my $450 windfall per coin. Smoke 'em if you got 'em.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Stonehenge
Alt Center


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Re: Is Bitcoin actually a good investment? [Re: geokills] 1
#24532279 - 08/05/17 11:49 AM (6 years, 5 months ago) |
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I keep saying avoid coinbase but the fanboys kept saying "no its good, won't do you wrong"
Oh, btw, btc is now 3331 on stamp and rising. All aboard, next destination the moon.
-------------------- “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
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Eyeof

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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24534157 - 08/06/17 06:36 AM (6 years, 5 months ago) |
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I honestly thought btc was going to tank hard with all the Aug 1 scares...glad I didn't jump ship. HODL!!
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Stonehenge
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Posts: 14,850
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Re: Is Bitcoin actually a good investment? [Re: Eyeof]
#24539262 - 08/08/17 02:32 PM (6 years, 5 months ago) |
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3450 at this moment and rising. Next stop the moon, destination pluto then the nearest star. All aboard
-------------------- “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
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Stonehenge
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Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24547127 - 08/11/17 09:44 PM (6 years, 5 months ago) |
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Hodl indeed! oh btw, coin is up around 3650 at the moment. The moon here we come. I sold lots of coin at 1200, bought, sold made some nice profit and decided the best place to put it is right back in btc. It kind of hurts to think of all the coin you sold for 2k or less and then buy more at 3k or higher. But the right move is not always the easy obvious move. So far btc has done everything I said it would and even surprised me.
We keep expecting a correction but instead it goes up even farther. The bears are getting trampled bigtime. I just bought more coin tonight
-------------------- “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
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24548028 - 08/12/17 11:04 AM (6 years, 5 months ago) |
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I hate to keep saying I told you so but coin just passed 3800. I lied, I love saying it ha ha ha ha. Who was it that was sure btc was about to crash? 3830 stamp, 3860 finex
-------------------- “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
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qman
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24548656 - 08/12/17 04:34 PM (6 years, 5 months ago) |
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Quote:
Stonehenge said: I hate to keep saying I told you so but coin just passed 3800. I lied, I love saying it ha ha ha ha. Who was it that was sure btc was about to crash? 3830 stamp, 3860 finex
As the US debt ceiling and budget get going this fall, it will only cause more to get out of the US dollar. Bitcoin will trade higher.
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: qman]
#24549146 - 08/12/17 08:39 PM (6 years, 5 months ago) |
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Yep, it just passed 4k and no end in sight. Even the coin I bought today has paid off already and I was thinking it might have been dumb to buy.
-------------------- “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
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Tulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
Posts: 11,109
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24552016 - 08/13/17 09:35 PM (6 years, 5 months ago) |
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Quote:
Stonehenge said: Yep, it just passed 4k and no end in sight. Even the coin I bought today has paid off already and I was thinking it might have been dumb to buy.
Enron.
Also, again, bitcoin and all other cryptos are currently based on the USD. If and when it switches to another currency, it will still be based on another fiat currency. There is no inherent value to cryptos. The faith is made up of a microcosm of the world population, and none of those people have a military at their disposal...unless of course, you buy into the conspiracy theory that Goldman or other bankers are actually behind the crypto-craze.
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amp244
Sporocarp Stretching


Registered: 08/05/08
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Re: Is Bitcoin actually a good investment? [Re: Tulipslave]
#24552194 - 08/13/17 11:09 PM (6 years, 5 months ago) |
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Its not "based on" any currency. It is traded in multiple currencies and is itself a currency. If the USD crashed, bitcoin would soar.
-------------------- How to Convert a Normal 24-hour Light Timer into a Short Cycle Repeating Timer "Monopoly, besides, is a great enemy to good management, which can never be universally established but in consequence of that free and universal competition which forces everybody to have recourse in it for the sake of self-defense." -Adam Smith
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Tulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
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Re: Is Bitcoin actually a good investment? [Re: amp244]
#24552649 - 08/14/17 07:38 AM (6 years, 5 months ago) |
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Quote:
amp244 said: Its not "based on" any currency. It is traded in multiple currencies and is itself a currency. If the USD crashed, bitcoin would soar.
In most places, BTC is valued in USD. Certainly, in Asian countries, it may be valued on localized currency. USD is currently the world reserve currency, hence many valuations fall back to USD, ultimately. If USD fails, then BTC will be valued in another currency, or currencies while the battle begins for the new world reserve currency.
NO ONE goes to a store or online retailer and exchanges BTC for goods or services directly, as BTC has no inherent value or power-backed, faith-instilling medium (aka a military and/or lawyers). The cost of the good or service in BTC is first translated into USD, or whatever example national currency, and then approved.
BTC has no practical value, in this sense. Liken it to a checking account or credit card. The credit or debit card one uses may or may not be accepted at all locations. Why? Because the digital numbers involved in those accounts or not REAL money, they REPRESENT real money, as well as network costs involved in running transactions can be prohibitive for some companies to use one or more networks. Physical dollars, or physical goods/services that can be bartered for, are real stores of value. They have tangible, practical use.
If all other dominant currencies failed, BTC would be worthless, aside from being a "collectible", until the majority of BTC holders and users AGREED that BTC has value apart from other fiats and agreed upon what its value would be.
Edit - At best, BTC and other cryptos would be best used for speculative gains, short- or medium-term, or illicit transactions that garner a potential amount of, though not complete, anonymity. Long-term holding as a protection against inflation or potential fiat failures is a ridiculous notion.
Edited by Tulipslave (08/14/17 07:48 AM)
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geokills
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Re: Is Bitcoin actually a good investment? [Re: Tulipslave]
#24552694 - 08/14/17 08:18 AM (6 years, 5 months ago) |
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Just going to play devil's advocate here for a moment...
Quote:
In most places, BTC is valued in USD
As of this writing, bitcoin is traded predominantly in JPY (accounting for approximately 42% of global trading volume vs the USD's 24% share). It is also considered legal tender by the Japanese government, and there are indeed many businesses that will accept bitcoin outright all over the world. Even major online outlets such as Overstock, Expedia and Newegg accept bitcoin.
Quote:
If all other dominant currencies failed, BTC would be worthless, aside from being a "collectible", until the majority of BTC holders and users AGREED that BTC has value apart from other fiats and agreed upon what its value would be.
One of the central tenets of bitcoin is that it is not subject to the same type of overt manipulation as government backed fiat currencies. So while "dominant currencies" are subject to losing purchasing power through inflation and may collapse based on a lack of trust in, or mismanagement by their custodial governments (i.e. central banks), bitcoin has no inherent connection to any governing body, is decentralized, deflationary and arguably one of the only truly global currencies. In this respect, one would assume that BTC would have a relatively easy time maintaining its place as a tool for storing/transferring value.
On the other hand, if all fiat currencies were to fail, that would likely indicate a significant macro problem that could potentially disrupt electronic networks, which would ultimately be BTC's undoing, as it relies on global electrical and networked communication infrastructure to maintain its decentralized status.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Tulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
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Re: Is Bitcoin actually a good investment? [Re: geokills]
#24552729 - 08/14/17 08:39 AM (6 years, 5 months ago) |
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Thank you for informing me. I was not aware Japan held the higher proportion of trade value in BTC. However, is BTC valued in BTC or is it valued in Yen? One still cannot negate that USD is the current world reserve currency.
As far as those companies accepting BTC, I acknowledge that. However, are they selling items based on a separate price-system for BTC, excluding the discount some companies seem to be offering as incentive to use BTC over a credit or debit card, or does the price work out the same in BTC as it would in USD or JPY?
Example: Does a motherboard valued at $200 USD on newegg sell for .04646753/.04646754 BTC? or does it sell for .035 BTC or .05 BTC? (Based on a value of $4304.08 USD as of this posting on https://coinmarketcap.com/)
Aside, with the fork of BTC into BCC, how does that not rival, if not equate, to a fiat proudcer printing out more fiat from nothing? BCC created what, 19.5 million coins from nothing, with "X" amount of coins to be mined in the future? Given, BCC is not BTC, but you likely see where my thought-process is leading. What is an average cost of converting BCC into BTC? Beyond governmental regulation, one reason to have a standardized form of currency is to eliminate all the costs of conversion that can play a minor role in inflationary/deflationary trends. If one has 1000 "brands" of cryptos in circulation, and vendor "A" accepts "brand A", vendor "B" accepts "brand B", and so on, the value of one's money decreases with each additional visit to a vendor that does not accept their currently held form of currency.
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Tulipslave]
#24552829 - 08/14/17 09:44 AM (6 years, 5 months ago) |
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BCH, what some call bcc, was a new alt crypto coin created out of thin air the same way all new coins are created. It only has value in what people are willing to pay for it, same as btc. Same as fiat in that regard, fiat is only worth what the market says its worth. If a new car is $30k today and same car was 20k years ago, then fiat has lost 1/3 of its value in that time. People say the car has gone up in price but actually the dollar has weakened. Granted new cars have extra features but we will ignore that for the moment.
BTC has gone up and up since its inception. Yesterday I was cheering the fact it had gone back up over 4k. Today its well over 4200 and as always, headed up. It seems the bold and reckless investor will have cleaned up on bitcoin. That would describe me perhaps. In fact since yesterday I made another 13k roughly in one day. Of course thats all just on paper but I could cash out at any time. Keeping it in coin means I profit from any rise, of course if it falls, my paper profit goes up in smoke at least until it rises again. All aboard the bitcoin train. Next stop prosperity ville and on to the moon.
-------------------- “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
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Intense City
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24554005 - 08/14/17 06:40 PM (6 years, 5 months ago) |
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Take $/£1000, invest in bitcoin. Wait until it rises to 10000, cash out 9000. remaining 1000 grows, reaches 10000, withdraw 9000. Don't be greedy, be clever ;P
--------------------
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Intense City]
#24554066 - 08/14/17 06:59 PM (6 years, 5 months ago) |
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That will work but what if you ARE greedy? Better if you put 1k in, it grows to 10k, take the 1k out and let the rest work for you. If it keeps growing then it might be 100k someday when you retire. Or more
-------------------- “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
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amp244
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24554687 - 08/14/17 11:18 PM (6 years, 5 months ago) |
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Bitcoin has the potential to displace the USD as the world's reserve currency. Bitcoin could cause the USD to tank. Just because bitcoin is at present converted to USD when online transactions take place, doesn't mean it always will be, or that it is in any way 'tied' or 'pegged' to the USD.
-------------------- How to Convert a Normal 24-hour Light Timer into a Short Cycle Repeating Timer "Monopoly, besides, is a great enemy to good management, which can never be universally established but in consequence of that free and universal competition which forces everybody to have recourse in it for the sake of self-defense." -Adam Smith
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: amp244]
#24555240 - 08/15/17 08:41 AM (6 years, 5 months ago) |
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Quote:
amp244 said: Bitcoin has the potential to displace the USD as the world's reserve currency. Bitcoin could cause the USD to tank. Just because bitcoin is at present converted to USD when online transactions take place, doesn't mean it always will be, or that it is in any way 'tied' or 'pegged' to the USD.
It is in the process of doing that right now. I think paper and metal currency will always be around because what if the internet was down? What if you are so poor you have no smart phone or lost it? There will always be pockets of resistance to new technology.
Coin has pulled back a bit. Haven't checked kraken which often is higher. So on paper I lost maybe 13k. Not a good days pay at all, lol. The 4k mark was more of a psychological cash in point than was anticipated. It went past it twice and then pulled back each time as more people realized how high it had gotten and decided to cash out. This could happen again but there is so much buying pressure that its merely a matter of time before it goes past it and keeps going.
I suspect 5k too will be a barrier since those who didn't cash at 4k say I could sure use a cruise, a new car etc and its free cause coin went up.
One factor that is coming into play is that coin is in more and more hands. Back in the day it was not unusual for someone to have 1000 btc. 100 btc was less than $1k and people bought and sold large amounts. Now more people have a few coins or less, some only perhaps .1 or less. As people with larger amounts sell off parts of their stash, this process will continue.
As people who bought coin cheap cash out or become confirmed hodlers, the majority will be those who bought at a higher price, perhaps over 2k or 3k. If you paid 4k and it goes it 4.5k, you are not so flabbergasted and less eager to cash in and run out to buy some luxury. Greater dispersion means a whale can't crash or shoot up the price as easily.
-------------------- “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
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qman
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge] 2
#24555570 - 08/15/17 11:21 AM (6 years, 5 months ago) |
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I heard that gold and silver backed crypto currencies are going to be launched in short order, I could really see those taking off in the future.
It would serve the people that are worried that Bitcoin isn't "backed by anything" and it would let the metals trade freely without central bank intervention.
I see the merger of these two alternatives coming together as fiat paper goes into the final decline. Nature is already preparing for the new system as the governments are still trying to hold up the old system.
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: qman]
#24555603 - 08/15/17 11:38 AM (6 years, 5 months ago) |
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We have gold efts now, so called paper gold and few trust them. A crypto currency "backed" by gold or silver is not a crypto currency. You have to redeem it and its just another form of paper gold. They say china is looking into a gold backed currency, saddam was too just before by coincidence he got killed.
Gold has had its day and will always be valuable but not as currency very much.
What is to stop them from issuing a load of coin with no gold behind it? Or the usual fractional reserve trick and maybe 10% will be backed by gold. Lets say you have 1 gld worth 1 oz gold, but you want the gold. Do you have to go to china, pay a high fee to get it, wait weeks to have it sent? There was a thing called bitgold a while back, it fell apart
-------------------- “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
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24564562 - 08/19/17 08:45 AM (6 years, 5 months ago) |
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Coin has made its much anticipated pullback. Looks like geo was right when he sold recently. It dropped some 10% which is fairly big, but not as big as the 20%+ dips it has made in the past. I think the fact it went over 4k so fast triggered the cashout instinct in many investors. Grab the loot before it gets away. Now we have to wonder if the drop in the last day or so will convince those on the fence that a bigger drop is underway or that it will even go back to 1k or something?
I'm fairly sure 1k is out of reach, likely 3k is also out of reach. There is a lot of buying pressure or the cashout people would have dominated by now. The price has been wobbling a lot the last few days, going down and bobbing back up as bulls and bears battle it out. Smart money sees that technical problems with btc have been largely solved and the blueprint for further improvements has been laid out. Those selling have been mostly people who bought cheap and can't believe it will go higher plus technical people who anticipated a drop. I too quit buying but after the latest dip I will now buy again. Even buying at 4.4k was not a bad move if you are in for the long term. If you are scalping profits it makes perfect sense to sell at that point.
Emotion may dominate in the near future. The ones selling now are mostly those who bought cheap and a few who panic when they see a drop of any kind. Those will tend to fuel a selloff which convinces more to sell. Otoh, a substantial drop like this triggers the greed in long term and savvy investors. They have seen it bounce back from every single drop and go even higher. They know the fundamentals are sound so see it as a buying opportunity. It may dip further but my advice is to buy at this time. If you are super cautious wait a day or two to see if it stabilizes around 4k or lower. But then if it shoots up as it has lately after every small dip you miss the chance to buy at a discount.
Most savvy investors who have been following btc think the long term outlook is bullish. Its going to be hard for a few panic sellers and profit takers to drive it down much further. Geo, your goal of 2800 will not happen. I hate to see a fellow shroomerite miss out on the big rise to come so hopefully you will agree this is a good time to rebuy and lock in your recent profits while being in position to cash in more later. My 'over the top' enthusiasm has been right so far.
Who thinks it will hit 10k by years end?
-------------------- “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
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24565755 - 08/19/17 05:46 PM (6 years, 5 months ago) |
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I bought some at around 3940, but just .7 something. Its already gone back up well over 4100 probably over 4200 on kraken. I said do not delay, those dips don't last forever. That might be the low point and never get back down.
-------------------- “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
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24594434 - 08/31/17 08:18 PM (6 years, 4 months ago) |
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I tried telling people to buy when it dips a little bit like that but not sure if they believed me. Well, its up to 4761 now. When ya gonna get onboard?
I do think we will hit resistance at 5k. We hit some when it crossed 4k, it kept going up, sliding back, going up, etc. Now it just goes up and up. I keep buying more myself. After it breaks through the 5k mark it will keep on chugging until it gets near 10k. It might be there by end of this year, some think it will take until late next year. They could both be too short sighted, it may take off like a rocket. It might be around 50k by end of next year.
-------------------- “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
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24596641 - 09/01/17 05:57 PM (6 years, 4 months ago) |
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Did I say 4700 and something? Its over 4900 now today as we speak. Instead of following the old pattern of going up then going back down, it is going more or less straight up and the dips are small rather than large percentage wise. Get back in geo or you will be kicking yourself later.
I still suspect some pullback at around 5k. Right now those cashing in are over balanced by those who want it either as investment or to buy something. When it hits 5k as it likely will before the week is over, it will probably just jitter back and forth for a week or so like it did at 4k. Then 6k will be no barrier and on to the moon!
-------------------- “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
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deadwk
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Loc: Canada, eh?
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24600953 - 09/03/17 03:24 PM (6 years, 4 months ago) |
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Yes, absolutely yes. You would be insanely unwise to not put money into bitcoin. Bitcoin is not going away, yes it may fork a bunch like bitcoin cash, but, it will always be around in some manner. Stores around here accept it, there are also some ATMs near my house.
Invest in Bitcoin, whether it be $10/month or $10/year you would be silly not to frankly.
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Liaam
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Re: Is Bitcoin actually a good investment? [Re: deadwk]
#24637371 - 09/17/17 08:56 AM (6 years, 4 months ago) |
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I think yes. This article https://bitcoinbestbuy.com/ proves that investing in bitcoins is easy and it's a good income
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CLIT
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Re: Is Bitcoin actually a good investment? [Re: Liaam]
#24637454 - 09/17/17 09:32 AM (6 years, 4 months ago) |
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I hope bitcoin is still valid even when the Chinese banned it. Also, I read an article something about bitcoin being some sort of pyramid scheme? But regardless, if people are making money off it as some form of commodity, more power to the winners.
Anyone here read more about a possible rival of Bitcoin called Kin?
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ashfiken
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Re: Is Bitcoin actually a good investment? [Re: CLIT]
#24637912 - 09/17/17 12:29 PM (6 years, 4 months ago) |
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From what I see Bitcoin will not be more affected by the Chinese regulations than it already has. I'd buy the dip honestly.. An kin is simply a new ico offered by a company/app called kik. Which is supposedly a bigger/ish messenger app active in a couple other countries besides America , similar to whatsapp.. They are just gonna offer a token and hope to build the kik app into an "ecosystem" if (d)apps they hope to all eventually use kin as the coin of commerce amongst those in such an ecosystem.. More than an alt to Bitcoin. It's using the ethereum tech to try to build on the blockchain.. I cannot remember from reading so much f they are erc20 token or if they are gonna have their own protocol/blockchain. Which is what the tezos is offering. Except that with teZos the coin holders will be the "rulers" of the blockchain via voting power as o where the chain goes.. And how.. So it's a very fast ballfield and China is a decent portion but you won't see this stuff fade out in general, ever. I believe blockchain tech is the next big business step for the globe..
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
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Jbigtree
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Re: Is Bitcoin actually a good investment? [Re: ashfiken]
#24638000 - 09/17/17 12:56 PM (6 years, 4 months ago) |
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Just throwing it out there I have been playing with crypto for about two years.... Monitor/BTC/Doge 60$ a year and a half is still 370$ today... I personally believe it's going to happen one of two ways. #1 media & the government will continue to demonize crypto because it's real in drug deals and it's presences adds extra security that makes catching users and dealers harder. Now this is what has been happening and it has only helped BTC grow it has surged 250% within the last 6 months. What they seem to not realize is any publicity is good for dnm. #2 all large governments join forces and make crypto illegal. Which is highly unlikely as the us gov has made a statement that they don't intend to do this anytime soon. (If anyone needs a reference I can locate it just don't feel like digging around for it rn) Even if this did happen. Big fucking whoop people would operate out of countries that allowed it and would use banks located in that country..... So short answer is yes it's a sound investment that will continue to hold its value due to the black market. If someone is willing to trade .02btc for an oz of boomers that makes it valued and it will continue to be.
-------------------- peace
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Middleman

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Posts: 8,399
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Re: Is Bitcoin actually a good investment? [Re: Jbigtree]
#24639226 - 09/17/17 08:50 PM (6 years, 4 months ago) |
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I was gonna buy 20 bitcoins when it was at $50 but Enlil talked me out of it.
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deadwk
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Loc: Canada, eh?
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Re: Is Bitcoin actually a good investment? [Re: Middleman]
#24639257 - 09/17/17 09:00 PM (6 years, 4 months ago) |
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CryptoCurrency isn't going away EVER. The Blockchain technology underlying some of these cryptocurrencies is simply too powerful to throw away. Blockchain technology really is revolutionary. Whether or not cryptocurrencies in their current form will persist for years to come who knows.
Side Note: I do program on-chain for a living so I might be a little bias, but the amount of work being created by Blockchain technology, and the amount of money flowing through it is simply too great to stop. Every day I'm constantly getting pinged by bots I've written about new jobs being created in the Blockchain space. Usually I get around 30-40 notifications a day.
However that being said I do think we are still years, if not decades away before cryptocurrencies become mainstream. I was on a bus full of people today talking to my friend I've been helping invest in CryptoCurrencies, and every single person on that bus looked at me as if I was a fucking lunatic, and I live in a city with a very well established crypto community.
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: deadwk]
#24657179 - 09/24/17 08:41 PM (6 years, 4 months ago) |
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^ agreed. The chinese actions were more powerful than I thought. I'd heard they banned new ico's but they also banned or closed all exchanges so no chinese can legally buy btc. That had a big downward effect. I lost over $100k from the peak to where it dropped. My response has been to buy more now that its down.
-------------------- “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
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LightRay
Lord Hubert


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Re: Is Bitcoin actually a good investment? [Re: qman]
#24657770 - 09/25/17 03:13 AM (6 years, 4 months ago) |
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Quote:
qman said: I heard that gold and silver backed crypto currencies are going to be launched in short order, I could really see those taking off in the future.
It would serve the people that are worried that Bitcoin isn't "backed by anything" and it would let the metals trade freely without central bank intervention.
That sounds interesting what is the name of that coin or who is launching this?
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keyser_soze
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Re: Is Bitcoin actually a good investment? [Re: LightRay] 1
#24662339 - 09/26/17 06:47 PM (6 years, 4 months ago) |
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Quote:
LightRay said:
Quote:
qman said: I heard that gold and silver backed crypto currencies are going to be launched in short order, I could really see those taking off in the future.
It would serve the people that are worried that Bitcoin isn't "backed by anything" and it would let the metals trade freely without central bank intervention.
That sounds interesting what is the name of that coin or who is launching this?
how could a crypto currency be backed by a physical asset?
who owns the gold and silver?
-------------------- People in my Fan Club: Masked (President), Ballsalsa (VP), The Ecstatic*don't waste your time "debating" with him, he uses 3rd grader tactics (Director of Bullshit), Koods (Fake News Anchorman), Falcon - Devout Communist *Word your posts carefully if they contain right wing values. The moderators here like to keep it left leaning, they will use every excuse to ban you but not the others. You've been warned.
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Chris_GIlford
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Re: Is Bitcoin actually a good investment? [Re: keyser_soze]
#24666078 - 09/28/17 04:46 AM (6 years, 3 months ago) |
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what is the exchange of bitcoin right now? Is it increasing? if yes then I think it's a good investment.
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keyser_soze
Truth Bomber
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Re: Is Bitcoin actually a good investment? [Re: Chris_GIlford]
#24666123 - 09/28/17 05:46 AM (6 years, 3 months ago) |
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its the very definition of a bubble.
be prepared.
why not take 4% out as hard cash per year just in case?
-------------------- People in my Fan Club: Masked (President), Ballsalsa (VP), The Ecstatic*don't waste your time "debating" with him, he uses 3rd grader tactics (Director of Bullshit), Koods (Fake News Anchorman), Falcon - Devout Communist *Word your posts carefully if they contain right wing values. The moderators here like to keep it left leaning, they will use every excuse to ban you but not the others. You've been warned.
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LightRay
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Re: Is Bitcoin actually a good investment? [Re: Chris_GIlford]
#24668927 - 09/29/17 05:11 AM (6 years, 3 months ago) |
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Quote:
Chris_GIlford said: what is the exchange of bitcoin right now? Is it increasing? if yes then I think it's a good investment.
We got a badass over here
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Tulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
Posts: 11,109
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Re: Is Bitcoin actually a good investment? [Re: keyser_soze]
#24678873 - 10/02/17 05:57 PM (6 years, 3 months ago) |
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Quote:
keyser_soze said:
Quote:
LightRay said:
Quote:
qman said: I heard that gold and silver backed crypto currencies are going to be launched in short order, I could really see those taking off in the future.
It would serve the people that are worried that Bitcoin isn't "backed by anything" and it would let the metals trade freely without central bank intervention.
That sounds interesting what is the name of that coin or who is launching this?
how could a crypto currency be backed by a physical asset?
who owns the gold and silver?
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LightRay
Lord Hubert


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Re: Is Bitcoin actually a good investment? [Re: CLIT]
#24682709 - 10/04/17 06:27 AM (6 years, 3 months ago) |
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Is that your website? I don't gamble. Bitcoins an investment. Its more stable than most other investment start ups and massively higher returns. Its not a gamble that different. A gamble you always lose long term because its a rigged game.
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Tulipslave
Homo sapiens sapiens, lol

Registered: 07/25/17
Posts: 11,109
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Re: Is Bitcoin actually a good investment? [Re: Tulipslave]
#24684835 - 10/04/17 10:10 PM (6 years, 3 months ago) |
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Quote:
how could a crypto currency be backed by a physical asset?
who owns the gold and silver?
I'm genuiney interested in this question. The whole concept behind governments having a physical backing to their currency or fiat is based on the faith/trust that the coffers won't be raided and redistributed away from the source of the users of said currency/fiat.
How can a crypto be backed by a physical asset? Who is holding/owning the assets? What military and/or security company is guarding the assets? What auditing agency is keeping track of the assets to make sure internal corruption isn't siphoning off the assets and lying to the "crypto-holders?"
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Stonehenge
Alt Center


Registered: 06/20/04
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Re: Is Bitcoin actually a good investment? [Re: Tulipslave]
#24685859 - 10/05/17 12:24 PM (6 years, 3 months ago) |
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I don't think any cryptos are backed by gold or silver. Certainly none of the ones commonly used. There was e-gold a while back but it fizzled out. There is talk about backing fiat with gold, china has talked about that. But you have to trust govt to give you the gold when you want it.
-------------------- “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
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FarmerOne
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24694387 - 10/08/17 03:11 PM (6 years, 3 months ago) |
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Hi,
I'm a newb getting my 10 posts. I work in investment and am familiar with crypto's as much as any layman. As an investment, I can tell you for sure that no one knows for sure. There is always some motivation behind the purchase (political, forward-thinking, whatever) that makes people want to invest in bitcoin.
Other stuff like stocks and bonds we have a lot of data on, and while we can't predict what will happen tomorrow, we know what happens over long periods of time.
We're on the front end of it. Only put in money you don't mind losing. It is speculative, obviously, and not much different than going to a casino in terms of risk. There are lots of risk factors not present in stocks and bonds, or even existing currency trading, which is about as speculative as mainstream investments get. Some of those risk factors, we don't even know what they are yet.
Bon chance
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: FarmerOne]
#24696819 - 10/09/17 01:43 PM (6 years, 3 months ago) |
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@farmer copy and pasting the same thing all over will get you unwanted attention from the mods.
BTW, bitcoin just went over 4800! I told people after the last fallback to buy buy buy because they had a chance to get coin at a discount. I followed my own advice and bought a substantial amount in the 3000's and low 4000's which all turned out to be good investments. In comparison, my gold has been sluggish.
One factor driving the rise is the upcoming segwit fork with free coins to those who hold btc before the split. There is another fork looming too. People buy btc in anticipation of getting a 10% or more bonus like what happened with the bch fork.
I predict this time it will pass the 5k mark and go higher. China has shot its load and can't do much about it anymore. Could it go above 10k by end of year? Or is that out of reach until 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
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Middleman

Registered: 07/11/99
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24698162 - 10/09/17 08:46 PM (6 years, 3 months ago) |
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It's obviously a bubble it may be 10K one day but it will be 1K again first.
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LightRay
Lord Hubert


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Re: Is Bitcoin actually a good investment? [Re: Middleman] 1
#24698705 - 10/10/17 03:24 AM (6 years, 3 months ago) |
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I doubt it will ever be as low as 1k again.
What you are calling a bubble is actually a set of bubbles that happen with any new market as investors come in and the price corrects itself over time to its actual value.
Bitcoin is establishing its real value and the overall trend of that real value is currently always going up because of...
1. Heavy new investment all the time 2. New finance and businesses emerging as a result of bitcoins ability to facilitate low cost (or what is essentially zero fee) international business transactions which no bank can compete with.
IMO Its highly unlikely to ever drop to as low as 1k a coin again.
I don't consider it a bubble until its rising over its real value. Right now its way under its real value. I know this is just specualtion but its specualtion based on the math. Assuming nothing bad happens like the banks somehow manage to shut it down in every country (highly unlikely if not impossible) then its going to keep growing and be worth a lot more than its current 4 figure price in the end.
Edited by LightRay (10/10/17 03:32 AM)
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Bitcoinshroom
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Re: Is Bitcoin actually a good investment? [Re: LightRay]
#24699163 - 10/10/17 09:51 AM (6 years, 3 months ago) |
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Anyone heard of Bitcoin Cash????
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Bitcoinshroom
Stranger
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Re: Is Bitcoin actually a good investment? [Re: Bitcoinshroom]
#24699170 - 10/10/17 09:52 AM (6 years, 3 months ago) |
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:B
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fluro
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Re: Is Bitcoin actually a good investment? [Re: Bitcoinshroom]
#24703956 - 10/12/17 05:04 AM (6 years, 3 months ago) |
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Bitcoin over $5140 USD! I've never used it but recently pondered diversifying some cash into bitcoin. I keep thinking I'm late to the party and it keeps powering higher.
Good on those people who bought early and held on.
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: fluro]
#24704349 - 10/12/17 09:29 AM (6 years, 3 months ago) |
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Now is a good time to have a bunch of btc.
$5240 last I looked
-------------------- “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
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24705740 - 10/12/17 08:31 PM (6 years, 3 months ago) |
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Its over $5600 now!
I made back everything I lost in the last crash and more. I wasn't really worried in fact I bought a bunch more coins while it was down. It may hit 10k by next year or this year. Part of the run up is the hope of getting free alt coins when the fork happens. I think people are oversold on that possibility, no telling what the price will be after the fork but it could go higher before then.
-------------------- “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
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catnip40
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24706574 - 10/13/17 08:26 AM (6 years, 3 months ago) |
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: catnip40]
#24724226 - 10/20/17 10:37 AM (6 years, 3 months ago) |
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BTC just hit $6k today. Its now wobbling around that figure, dipping as profit takers cash in then bobbing back up. This is not surprising when it hits an even $1000 amount. I predicted a little of that but not as much as we saw at 5k. At 10k there will be a lot more cashing in.
Those who heeded my advice and got in deep with btc are glad. Those who didn't are mad and or sad. Was I right or what? It will keep going up.
Yes, I would say btc has been a most excellent investment and the future looks bright
-------------------- “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
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Jbigtree
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Re: Is Bitcoin actually a good investment? [Re: Middleman]
#24725511 - 10/20/17 06:54 PM (6 years, 3 months ago) |
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Quote:
Middleman said: It's obviously a bubble it may be 10K one day but it will be 1K again first.
Quote:
^^^^ this
Not saying it won't continue to climb at the moment but there will be a biggg dip in price shortly. LE is having a bitch with all the spin off markets since AB..... Soon will be the crypto battle.
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LightRay
Lord Hubert


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Re: Is Bitcoin actually a good investment? [Re: Jbigtree] 1
#24726128 - 10/21/17 01:01 AM (6 years, 3 months ago) |
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Sigh, ok yeah or just take a look at the graph www.coindesk.com
I wish people with no idea what the are talking about would stop shouting bubble its just retarded.
Its been through several inflation and deflation periods already. This isn't a fucking pyramid scheme. Its an emerging asset / investment that obviously will increase or decrease in value as people trade and buy into the investment. Same with ANY emerging investment.
So far I've profited over $4500 from the bubbles. How much have you made?
I really don't think you gbubble shouters have any idea what your talking about.
BTW do you round shouting bubble at every new investment that emrges?
New investment? BUBBLE RUN ITS A FUCKIN BUBBLE.
Well no shit sherlock, thanks for the observation. As I stated though what you call a bubble is a set of bubbles of growth that appear in any new business as investors emerge and guess what NEW INVESTORS ARE STILL EMERGING AND SO IT IS GROWING.
I'll tell you what bitcoin is, its not a bubble my friend, its a new form of money. The first interest free non-debt based global monetary system. This is a fucking quiet revolution. The masses are still completely oblivious to what it actually is and whats happening. They've solved one of the fundamental problems in the monetary system. Its not a bubble, its not going to disappear!
-------------------- 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 (11/01/17 11:48 AM)
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: LightRay]
#24774284 - 11/10/17 05:57 PM (6 years, 2 months ago) |
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The cancellation of the segwit 2x fork dropped btc a lot. Those who just bought in and were looking for short term gains lost out. Its a long term investment, not a great short term scalping opportunity. I myself lost well over $100,000.00 again in one day from yesterday to today, my biggest one day loss yet. But, it was gained through no effort so easy come easy go. I already made back what I lost in the last big drop from 5k down to middle 3k and I'm way ahead even with this. Btc dropped from 7500 or so and went to 6300 in a day. But it has now shot back to 6600 so I already got back some of what I "lost" and have full confidence it will go back up
Now we have yet another opportunity to buy btc cheap. Will anyone take advantage of it?
-------------------- “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
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24775355 - 11/11/17 08:19 AM (6 years, 2 months ago) |
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Quote:
Stonehenge said: Now we have yet another opportunity to buy btc cheap. Will anyone take advantage of it?
As I noted about a week ago:Quote:
For my money, I liquidated a portion of my BTC holdings at $7,500 this morning and have placed buy orders around $5,000 to reload on what I foresee as a reasonable near term retracement.
$6000 could conceivably play as support, but with how volatile the space is, I expect this to overshoot to the downside the same way it overheated to the upside. While I don't necessarily think it's a high probability proposition, I would also not be surprised to see BTC fall as low as $3800 before the year is out.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: geokills]
#24775441 - 11/11/17 09:03 AM (6 years, 2 months ago) |
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> I would also not be surprised to see BTC fall as low as $3800 before the year is out.
I would, very much so. It could dip below 6k however. Its been hovering between 6300 and 6600 for the last day which indicates there is still a lot of buying sentiment along with those who decided to dump when seg2x fell through. Those are probably the same ones who ran it way up. Take every one of them out and you still have support around 6k and higher.
I now see bch is over 1300 which makes me glad I didn't liquidate my holdings. It may be the ones who jumped out of btc who are running up bch. I plan to hold bch and not dump, why get off a winning horse? I also plan to hold btc and start buying again expecting that this latest setback will like all the others turn out to be temporary and the run up will resume. We will see, there were unexpected fallbacks which were not really unexpected since it was going straight up. I said I would not be surprised to see it fall after shooting over 7k. I quit buying last week and I'm glad about that even though it will go back up.
-------------------- “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
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24805580 - 11/25/17 12:06 PM (6 years, 2 months ago) |
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Looking back over my last post here from 2 weeks ago, lets see what happened
>It could dip below 6k
and it did, but recovered
>it will go back up.
I kept buying more and today btc is over 8600 a coin. What is very interesting is the alt coins produced by the forks are actually worth something. BCH is worth around $1600 and bcg (gold) which I thought was worthless or never came into being, is traded now at around $400 each. Thats over $2k in bonus for each bitcoin you held as long as you had them before the bch split and kept them for the bcg split. Now I hear there is a diamond split coming up?
The bonus alt coins are worth more than most alts that have been around for years.
-------------------- “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
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24807497 - 11/26/17 12:17 PM (6 years, 2 months ago) |
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Holy smokes! btc touched 9400 today now dipping back down. Looks like it will hit 10k faster than I thought, perhaps even this month. However, I do think there will be a pullback coming soon. Everyone knows there will be a massive sell off at 10k so people are setting their sell orders even lower plus the fact it just crossed 9k and traditionally when coin hits another 1000 mark it falls back. So we have the 9k cash in people and then the big sell off at or near 10k. My advice is to hold off on btc for a little while but buy the dip.
-------------------- “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
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LightRay
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24808530 - 11/26/17 08:45 PM (6 years, 2 months ago) |
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Bitcoin set to break 10k a coin TODAY!
-------------------- 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!
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Stonehenge
Alt Center


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Re: Is Bitcoin actually a good investment? [Re: LightRay]
#24809331 - 11/27/17 10:00 AM (6 years, 2 months ago) |
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Its around 9600 or 9700 but it will pull back when it touches or gets close enough to 10k. There is a very good chance that will happen before dec 1, and might even be today. I quit buying for a while, I'm waiting for the dip.
-------------------- “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
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ManianFH
living in perverty



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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24809484 - 11/27/17 11:04 AM (6 years, 2 months ago) |
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what do you think will happen if there is a 10k selloff? Will that money get redistributed into altcoins, or people just cash out? Seeing the market cap at this all time high makes me think people are in altcoins to stay - even if BTC meets that resistance.
I have put more money into altcoins at this stage under that assumption.
-------------------- 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."
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: ManianFH]
#24809674 - 11/27/17 12:46 PM (6 years, 2 months ago) |
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Alts may benefit but I think it will be mostly a cashout rather than transfer to other coins or investments but some of that may happen too. We had major pullback at 5k, and each 1000 mark has seen some of that. 10k will be much like 5k but since china has already shot its load, I don't think it will go as far back as it did at the 5k mark. I'm looking for low 9k but it won't stay there long. Be ready to pull the trigger at any moment. I plan to buy again when it looks like the cashout has hit bottom.
Other factors are possible splits coming up. Bitcoin diamond is said to be coming up and it will use 8 megabits per block which will dramatically speed up transfers. The segwit2x was cancelled but a few miners, some 7% say they will go ahead with that on their own possibly producing another split off btc
Splits mean free coin if you hold btc and bch has been quite valuable, holding recently around $1600 per bch and that was free coin. Bcg or bitcoin gold is worth money too, another freebie and who knows what these others will be worth? That alone will guarantee more investment and speculation in btc. This is why I do not predict a big pullback but anything is possible. The more it drops the more I buy.
-------------------- “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
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Obsidian
The lone deranger



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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24811080 - 11/28/17 06:11 AM (6 years, 2 months ago) |
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BCG is crap but it made me some money. However all the forks are hurting Bitcoin both by making it look stupid or like Bcash by hurting it's hashrate (and attempting to steal it's brand).
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Near Dylan
Shitpost Artist


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Re: Is Bitcoin actually a good investment? [Re: Obsidian]
#24811085 - 11/28/17 06:21 AM (6 years, 2 months ago) |
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Bitoin is extremely expensive now, and is on the rise. You can buy it and potentially make a million dollars. But you can also drop 10k into a single bitcoin, just to watch bitcoin completely crash and fall apart and lose thousands.
Its a very fragile market. I invest in it, but I keep it low. I never invest more than $500 at a time. I've made somwhere around $1000 from selling coins that could be worth $10,000 right now. So Im holding on to it for awhile, but also I keep in mind that it very well could completely go under sometime in the future.
It's a reward that could be massive, and a risk that is easy to minimize. Dont dump a shit ton of money into it. Start small, its all you should need if the market goes crazy, and wont be a massive blow if the market crashes.
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Obsidian]
#24811151 - 11/28/17 07:26 AM (6 years, 2 months ago) |
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I've heard unconfirmed reports that bitcoin silver is next year and bitcoin platinum is coming this year. Its already around 9800, something should happen soon
-------------------- “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
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LightRay
Lord Hubert


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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24811180 - 11/28/17 07:57 AM (6 years, 2 months ago) |
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$9906
Shits gonna blow up the media when this hits 10k... can't wait to see what happens
I'm guessing all the traders take profits... after a shortwhile this will cause a drop / correction but the hype from the 10k mark in media will surely produce massive investment.
After the correction we could see really rapid gains now! I mean its already rapid but get ready for this shit to go mainstream!!!
Keep investing shroomerites!
Some of my thoughts on alt-investments; I think ether is better as a long term crypto currency but its still to early days for this "flippening" the users hope for. It appears to be and I predict it will grow along side bitcoin for foreseeing future.
Theres going to be some unifying wallet or crypto solution thats going to blow up - a lot of contenders right now in the early stages. Nobody knows but if you pick the right one even a small investment would likely make you very rich.
I personally feel sticking to bitcoin and/or ether is you wisest choice right now. Despite the 10k price of bitcoin it STILL EARLY DAYS. We are witnessing a financial revolution here. Don't doubt it! Good luck!
Edited by LightRay (11/28/17 08:04 AM)
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Obsidian
The lone deranger



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Re: Is Bitcoin actually a good investment? [Re: LightRay]
#24813625 - 11/29/17 04:48 AM (6 years, 1 month ago) |
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Congrat 10k to all the hodlers <3 btc
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: Is Bitcoin actually a good investment? [Re: Obsidian]
#24814028 - 11/29/17 10:03 AM (6 years, 1 month ago) |
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Back in the beginning I had the opportunity to buy bitcoins for $7 a piece but I didnt believe in them. They are now worth over $13.000 each. If I had farted $100 in that direction it would now be worth $185.000 and 600 bucks would have made me a millionaire.
There's people who did just that and lost it all in MtGox though, thats even more shitty.
-------------------- Omnicyclion.org higher knowledge starts here
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geokills
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Re: Is Bitcoin actually a good investment? [Re: Asante]
#24814364 - 11/29/17 12:08 PM (6 years, 1 month ago) |
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Quote:
Asante said: There's people who did just that and lost it all in MtGox though, thats even more shitty.
Tell me about it! I have a 39 bitcoin claim in the Mt Gox bankruptcy proceedings. 
That'd be pert near a half million bucks this morning, but there's no chance I'll be seeing that. They recovered around 20% of the company's assets as bitcoin, which they still hold as bitcoin... but because of the way the Japanese bankruptcy laws are written, my claim is frozen in time to equal the equivalent yen value of BTC when the bankruptcy was declared. So even though I'm pretty sure I'll get a payout of some sort, it'll probably be less than $20K, even though the company now has enough assets to settle my claim equitably at $100K given today's bitcoin price (not to mention additional assets airdropped from the bitcoin ledger such as Bitcoin Cash, etc.). The real kicker is that the law would then give the surplus assets back to the Mt Gox shareholders, namely Mark Karpeles, the owner who mismanaged the company and is currently on trial in Japan for embezzling funds in the first place.
Pretty crazy. Anywho, I stayed involved with BTC, and shouldn't complain too much. After 15 years in the stock market, even with the Mt Gox losses, cryptocurrency has been my best trade to date.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: Is Bitcoin actually a good investment? [Re: geokills]
#24814716 - 11/29/17 03:08 PM (6 years, 1 month ago) |
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Oh wow sorry 
How do you see the future of Bitcoin? Its going almost vertical right now, do you think we're close to its bubble bursting or how far do you think it will go?
Whats your Top 5 ?
Sucks about MtGox, wow
-------------------- Omnicyclion.org higher knowledge starts here
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Stonehenge
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Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: Asante]
#24814894 - 11/29/17 04:45 PM (6 years, 1 month ago) |
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I got burned by gox too. BTC had the much predicted "collapse" of the "bubble" today. It didn't last long so if you blinked you might have missed it. It surged over 11k on some exchanges, then it dropped briefly below 9k and is now around 10k
I would have gained well over 25 million $ if I had simply kept buying and not sold any. A lot more than that if I got serious about investing. A ton more if I had done it all back in '11 when I first got in and if I had hodled. I might be a paper billionaire right now. As it is, I'm content with what I did make and I plan to hodle from now on.
In a few years, I might see that $25m I was dreaming about. Get on board while its still early! I'm still planning to buy more
-------------------- “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
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DEEZEDBRAH
Stranger
Registered: 11/29/17
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24815226 - 11/29/17 07:41 PM (6 years, 1 month ago) |
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Quote:
Stonehenge said: I got burned by gox too. BTC had the much predicted "collapse" of the "bubble" today. It didn't last long so if you blinked you might have missed it. It surged over 11k on some exchanges, then it dropped briefly below 9k and is now around 10k
I would have gained well over 25 million $ if I had simply kept buying and not sold any. A lot more than that if I got serious about investing. A ton more if I had done it all back in '11 when I first got in and if I had hodled. I might be a paper billionaire right now. As it is, I'm content with what I did make and I plan to hodle from now on.
In a few years, I might see that $25m I was dreaming about. Get on board while its still early! I'm still planning to buy more
Its traded based upon its assumed value. Great if one jumped on it before. Peter Drucker Innovation and entrepreneur book spelled out for those who are unaware. His father came into some money and put the mother load into a coffee maker which he presumed was a great investment. The stock market crashed. All was lost. Moral of the story, diversify your portfolio. NEVER THROW ALL EGGS IN ONE BASKET. Same goes for women and marriage lulz
I would never enter into something, I could not walk away from or turn a profit on. There must be some assumed intrinsic value otherwise, it is a bad choice. If you got the 10k to throw into a crypto currency, by all means but, I would look for the next one that will blow up. The biggest knock on BTC is the terrible turnover rate to USD. Something much quicker could be a better alternative however, once this flaw is fixed, it will blow the fuck up.
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: DEEZEDBRAH]
#24817413 - 11/30/17 05:50 PM (6 years, 1 month ago) |
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"terrible turnover rate to usd"? what do you mean? All you have to do is send it to an exchange, get cash, wire it back. Or meet up with someone in person via various sites and swap your coin for cashola.
Its growing like a movement that will arrive but we don't know when. Its still in the early stages, as more and more businesses start to accept it, as people learn to use it, it spreads like a virus. Someday people will be moaning about how they could have bought a whole bitcoin for only about $10k and look at it now.
Your $$ buy less and less every year and people notice that. Depending on your country you may see the exchange rate go down vs world currencies. Do you want money that drops in value or do you want money that buys more each year than the year before?
Another factor is many people are sick of greedy politicians taxing them to death. They are tired of govt constantly spying on them, wanting to know their every move and how much money they have and what its spent on. Crypto makes it a lot harder for govt to spy on our finances.
-------------------- “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
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Near Dylan
Shitpost Artist


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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24817419 - 11/30/17 05:52 PM (6 years, 1 month ago) |
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Or in 5 years they could say "lol remember that one time bitcoin was 10k? shits like $2 now lol"
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Near Dylan]
#24821930 - 12/02/17 05:24 PM (6 years, 1 month ago) |
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Yeah, it just went past 11k, no doubt it'll go down to 2 in a minute. It always pulls back a little when it hits another 1k mark. It fell a bunch when it hit 10k but then savvy investors saw a buying opportunity and jumped in so the drop did not last for long.
When it hits 50k a coin I will say "why do I need more money?"
-------------------- “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
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Asante
Mage


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Re: Is Bitcoin actually a good investment? [Re: Near Dylan]
#24823045 - 12/03/17 06:05 AM (6 years, 1 month ago) |
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Quote:
Near Dylan said: Or in 5 years they could say "lol remember that one time bitcoin was 10k? shits like $2 now lol"
Bitcoin is backed by insurgents who want their cases of ammo and AK47's, dealers who want their multigram fentanyl, businessmen obfuscating their gains from the taxman and traffic cops who want their horse porn.
Unlike a mere paper asset, many people have considerabla drive to obtain bitcoin other than investment.
I saw one can actually buy gold with bitcoin.
-------------------- Omnicyclion.org higher knowledge starts here
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Near Dylan
Shitpost Artist


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Re: Is Bitcoin actually a good investment? [Re: Asante]
#24823048 - 12/03/17 06:10 AM (6 years, 1 month ago) |
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yeah thats true actually. Im wondering if im fucking myself over by not investing more
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Near Dylan]
#24823340 - 12/03/17 09:54 AM (6 years, 1 month ago) |
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Yes, you can buy gold, dope, legit stuff, tickets, etc. Below is a list of well known places that accept bitcoin. The formatting came out a little strange. Oh btw, its at $11,700 today
<li><strong>WordPress.com</strong> – An online company that allows user to create free blogs</li> <li><a href="http://overstock.com" target="_blank" class="external" rel="nofollow"><strong>Overstock.com</strong></a> – A company that sells big ticket items at lower prices due to overstocking</li> <li><strong>Subway</strong> – Eat fresh</li> <li><strong>Microsoft</strong> – Users can buy content with Bitcoin on Xbox and Windows store</li> <li><strong>Reddit</strong> – You can buy premium features there with bitcoins</li> <li><strong>Virgin Galactic</strong> – Richard Branson company that includes Virgin Mobile and Virgin Airline</li> <li><strong>OkCupid</strong> – Online dating site</li> <li><strong>Namecheap</strong> – Domain name registrar</li> <li><strong>CheapAir.com</strong> – Travel booking site for airline tickets, car rentals, hotels</li> <li><strong>Expedia.com</strong> – Online travel booking agency</li> <li><strong>Gyft</strong> – Buy giftcards using Bitcoin</li> <li><strong>Newegg.com</strong> – Online electronics retailer now uses bitpay to accept bitcoin as payment</li> <li> <strong style="font-size: 14px;"><a title="More articles about Wikipedia." href="https://www.wikipedia.org/" target="_blank" rel="nofollow" class="external">Wikipedia</a> </strong><span style="font-size: 14px;">– The Free Encyclopedia with 4 570 000+ article</span></li> <li><strong>Steam</strong> – Desktop gaming platform</li> <li><strong>Alza</strong> – Largest Czech online retailer</li> <li><strong>The Internet Archive</strong> – web documatation company</li> <li><strong>Bitcoin.Travel</strong> – a travel site that provides accommodation, apartments, attractions, bars, and beauty salons around the world</li> <li><strong>Pembury Tavern</strong> – A pub in London, England</li> <li> <strong>Old Fitzroy</strong> – A pub in Sydney, Australia</li> <li><strong>The Pink Cow</strong> – A diner in Tokyo, Japan</li> <li><strong>The Pirate Bay</strong> – BitTorrent directories</li> <li><strong>Zynga</strong> – Mobile gaming</li> <li><strong>4Chan.org</strong> – For premium services</li> <li><strong>EZTV</strong> – Torrents TV shows provider</li> <li><strong>Mega.co.nz</strong> – The new venture started by the former owner of MegaUpload Kim Dotcom</li> <li><strong>Lumfile</strong> – Free cloud base file server – pay for premium services</li> <li><strong>Etsy Vendors</strong> – 93 of them</li> <li><strong>PizzaForCoins.com</strong> – Domino’s Pizza signed up – pay for their pizza with bitcons</li> <li><strong>Whole Foods</strong> – Organic food store (by purchasing gift card from Gyft)</li> <li><strong>Bitcoincoffee.com</strong> – Buy your favorite coffee online</li> <li><strong>Grass Hill Alpacas</strong> – A local farm in Haydenville, MA</li> <li><strong>Jeffersons Store</strong> – A street wear clothing store in Bergenfield, N.J</li> <li><strong>Helen’s Pizza</strong> – Jersey City, N.J., you can get a slice of pizza for 0.00339 bitcoin by pointing your phone at a sign next to the cash register</li> <li><strong>A Class Limousine</strong> – Pick you up and drop you off at Newark (N.J.) Airport</li> <li><strong>Seoclerks.com</strong> – Get SEO work done on your site cheap</li> <li><strong>Mint.com</strong> – Mint pulls all your financial accounts into one place. Set a budget, track your goals and do more</li> <li><strong>Fancy.com</strong> – Discover amazing stuff, collect the things you love, buy it all in one place (<em>Source: <a href="http://fancy.com/" target="_blank" rel="nofollow" class="external">Fancy</a></em>)</li> <li><strong>Bloomberg.com</strong> – Online newspaper</li> <li><strong>Humblebundle.com</strong> – Indie game site</li> <li><strong>BigFishGames.com</strong> – Games for PC, Mac and Smartphones (iPhone, Android, Windows)</li> <li><strong>Suntimes.com</strong> – Chicago based online newspaper</li> <li><strong>San Jose Earthquakes</strong> – San Jose California Professional Soccer Team (MLS)</li> <li><strong>Crowdtilt.com</strong> – The fastest and easiest way to pool funds with family and friends (<em>Source: <a href="https://www.crowdtilt.com/" rel="nofollow" class="external" target="_blank">crowdtilt</a></em>)</li> <li><strong>Lumfile</strong> – Server company that offers free cloud-based servers</li> <li><strong>Museum of the Coastal Bend</strong> – 2200 East Red River Street, Victoria, Texas 77901, USA</li> <li><strong>Gap, GameStop and JC Penney</strong> – have to use eGifter.com</li> <li><a href="https://www.etsy.com/teams/10366/bitcoin/members" target="_blank" rel="nofollow" class="external">Etsy Vendors</a> – Original art and Jewelry creations</li> <li><a href="https://donate.fightforthefuture.org/" target="_blank" rel="nofollow" class="external">Fight for the Future</a> – Leading organization finding for Internet freedom</li> <li><strong>i-Pmart (ipmart.com.my)</strong> – A Malaysian online mobile phone and electronic parts retailer</li> <li><strong><a href="http://curryupnow.com/" target="_blank" rel="nofollow" class="external">curryupnow.com</a></strong> – A total of 12 restaurants on the list of restaurants accept bitcoins in San Francisco Bay Area</li> <li><strong><a href="https://dealbook.nytimes.com/2014/05/29/dish-network-to-accept-bitcoin/" rel="nofollow" class="external" target="_blank">Dish Network</a></strong> – An American direct-broadcast satellite service provider</li> <li><strong>The Libertarian Party</strong> – United States political party</li> <li><strong>Yacht-base.com</strong> – Croatian yacht charter company</li> <li><strong>Euro Pacific</strong> – A major precious metal dealer</li> <li><strong>CEX</strong> – The trade-in chain has a shop in Glasgow, Scotland that accepts bitcoin</li> <li><strong>Straub Auto Repairs</strong> – 477 Warburton Ave, Hastings-on-Hudson, NY 10706 – (914) 478-1177</li> <li><strong>PSP Mollie</strong> – Dutch Payment Service</li> <li><strong>Intuit</strong> – an American software company that develops financial and tax preparation software and related services for small businesses, accountants and individuals.</li> <li><a href="http://www.shopjoy.com.au/" target="_blank" rel="nofollow" class="external"><strong>ShopJoy</strong></a> – An Australian online retailer that sells novelty and unique gifts</li> <li><strong><a href="http://www.lv.net/" target="_blank" rel="nofollow" class="external">Lv.net</a></strong> – Las Vegas high speed internet services</li> <li><a href="https://www.expressvpn.com/" target="_blank" rel="nofollow" class="external"><strong>ExpressVPN.com</strong></a> – High speed, ultra secure VPN network</li> <li><strong>Grooveshark</strong> – Online music streaming service based in the United States</li> <li><strong>Braintree</strong> – Well known payments processor</li> <li><strong><a href="http://store.thecoop.com/coopstore/estore_home.jsp" target="_blank" rel="nofollow" class="external">MIT Coop Store</a></strong> – Massachusetts Institute of Technology student bookstore</li> <li><strong>SimplePay</strong> – Nigeria’s most popular web and mobile-based wallet service</li> <li><strong><a href="http://sfu.collegestoreonline.com/" target="_blank" rel="nofollow" class="external">SFU bookstore</a></strong> – Simon Fraser University in Vancouver, Canada</li> <li><strong>State Republican Party</strong> – First State Republican Party to accept bitcoin donations (http://www.lagop.com/bitcoin-donate)</li> <li><strong>mspinc.com</strong> – Respiratory medical equipment supplies store</li> <li><strong>Shopify.com</strong> – An online store that allows anyone to sell their products</li> <li>Famsa – Mexico’s biggest retailer</li> <li><strong>Naughty America</strong> – Adult entertainment provider</li> <li><strong>Mexico’s Universidad de las Américas Puebla</strong> – A major university in Mexico</li> <li><strong>LOT Polish Airlines</strong> – A worldwide airline based in Poland</li> <li>MovieTickets.com – Online movie ticket exchange/retailer</li> <li>Dream Lover – Online relationship service</li> <li><strong>Lionsgate Films</strong> – The production studio behind titles such as The Hunger Games and The Day After Tomorrow</li> <li><strong>Rakutan</strong> – A Japanese e-commerce giant</li> <li><strong>Badoo</strong> – Online dating network</li> <li><strong>RE/MAX London</strong> – UK-based franchisee of the global real estate network</li> <li><strong>T-Mobile Poland</strong> – T-Mobile’s Poland-based mobile phone top-up company</li> <li><strong>Stripe</strong> – San Francisco-based payments company</li> <li><strong>WebJet</strong> – Online travel agency</li> <li><strong>Green Man Gaming</strong> – Popular digital game reseller</li> <li><strong>Save the Children</strong> – Global charity organization</li> <li><strong>NCR Silver</strong> – Point of sales systems</li> <li><strong>One Shot Hotels</strong> – Spanish hotel chain</li> <li> <p class="post-title item fn"><strong>Coupa Café </strong><a href="/coupa-cafe-sells-coffee-to-the-silicon-valley-pros-in-exchange-for-bitcoins/">in Palo Alto</a></p> </li> <li>PureVPN – VPN provider</li> <li><a href="/get-your-own-custom-made-action-figure-for-bitcoins/">That’s my face</a> – create action figures</li> <li><strong>Foodler – </strong>North American restaurant delivery company</li> <li>Amagi Metals – Precious metal furnisher</li>
From Who Accepts Bitcoins As Payment? List of Companies https://99bitcoins.com/who-accepts-bitcoins-payment-companies-stores-take-bitcoins/
-------------------- “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
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howsyournaggerdoin
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24824840 - 12/04/17 02:41 AM (6 years, 1 month ago) |
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Quote:
WordPress.com – An online company that allows user to create free blogs Overstock.com – A company that sells big ticket items at lower prices due to overstocking Subway – Eat fresh Microsoft – Users can buy content with Bitcoin on Xbox and Windows store Reddit – You can buy premium features there with bitcoins Virgin Galactic – Richard Branson company that includes Virgin Mobile and Virgin Airline OkCupid – Online dating site Namecheap – Domain name registrar CheapAir.com – Travel booking site for airline tickets, car rentals, hotels Expedia.com – Online travel booking agency Gyft – Buy giftcards using Bitcoin Newegg.com – Online electronics retailer now uses bitpay to accept bitcoin as payment Wikipedia – The Free Encyclopedia with 4 570 000+ article Steam – Desktop gaming platform Alza – Largest Czech online retailer The Internet Archive – web documatation company Bitcoin.Travel – a travel site that provides accommodation, apartments, attractions, bars, and beauty salons around the world Pembury Tavern – A pub in London, England Old Fitzroy – A pub in Sydney, Australia The Pink Cow – A diner in Tokyo, Japan The Pirate Bay – BitTorrent directories Zynga – Mobile gaming 4Chan.org – For premium services EZTV – Torrents TV shows provider Mega.co.nz – The new venture started by the former owner of MegaUpload Kim Dotcom Lumfile – Free cloud base file server – pay for premium services Etsy Vendors – 93 of them PizzaForCoins.com – Domino’s Pizza signed up – pay for their pizza with bitcons Whole Foods – Organic food store (by purchasing gift card from Gyft) Bitcoincoffee.com – Buy your favorite coffee online Grass Hill Alpacas – A local farm in Haydenville, MA Jeffersons Store – A street wear clothing store in Bergenfield, N.J Helen’s Pizza – Jersey City, N.J., you can get a slice of pizza for 0.00339 bitcoin by pointing your phone at a sign next to the cash register A Class Limousine – Pick you up and drop you off at Newark (N.J.) Airport Seoclerks.com – Get SEO work done on your site cheap Mint.com – Mint pulls all your financial accounts into one place. Set a budget, track your goals and do more Fancy.com – Discover amazing stuff, collect the things you love, buy it all in one place (Source: Fancy) Bloomberg.com – Online newspaper Humblebundle.com – Indie game site BigFishGames.com – Games for PC, Mac and Smartphones (iPhone, Android, Windows) Suntimes.com – Chicago based online newspaper San Jose Earthquakes – San Jose California Professional Soccer Team (MLS) Crowdtilt.com – The fastest and easiest way to pool funds with family and friends (Source: crowdtilt) Lumfile – Server company that offers free cloud-based servers Museum of the Coastal Bend – 2200 East Red River Street, Victoria, Texas 77901, USA Gap, GameStop and JC Penney – have to use eGifter.com Etsy Vendors – Original art and Jewelry creations Fight for the Future – Leading organization finding for Internet freedom i-Pmart (ipmart.com.my) – A Malaysian online mobile phone and electronic parts retailer curryupnow.com – A total of 12 restaurants on the list of restaurants accept bitcoins in San Francisco Bay Area Dish Network – An American direct-broadcast satellite service provider The Libertarian Party – United States political party Yacht-base.com – Croatian yacht charter company Euro Pacific – A major precious metal dealer CEX – The trade-in chain has a shop in Glasgow, Scotland that accepts bitcoin Straub Auto Repairs – 477 Warburton Ave, Hastings-on-Hudson, NY 10706 – (914) 478-1177 PSP Mollie – Dutch Payment Service Intuit – an American software company that develops financial and tax preparation software and related services for small businesses, accountants and individuals. ShopJoy – An Australian online retailer that sells novelty and unique gifts Lv.net – Las Vegas high speed internet services ExpressVPN.com – High speed, ultra secure VPN network Grooveshark – Online music streaming service based in the United States Braintree – Well known payments processor MIT Coop Store – Massachusetts Institute of Technology student bookstore SimplePay – Nigeria’s most popular web and mobile-based wallet service SFU bookstore – Simon Fraser University in Vancouver, Canada State Republican Party – First State Republican Party to accept bitcoin donations (http://www.lagop.com/bitcoin-donate) mspinc.com – Respiratory medical equipment supplies store Shopify.com – An online store that allows anyone to sell their products Famsa – Mexico’s biggest retailer Naughty America – Adult entertainment provider Mexico’s Universidad de las Américas Puebla – A major university in Mexico LOT Polish Airlines – A worldwide airline based in Poland MovieTickets.com – Online movie ticket exchange/retailer Dream Lover – Online relationship service Lionsgate Films – The production studio behind titles such as The Hunger Games and The Day After Tomorrow Rakutan – A Japanese e-commerce giant Badoo – Online dating network RE/MAX London – UK-based franchisee of the global real estate network T-Mobile Poland – T-Mobile’s Poland-based mobile phone top-up company Stripe – San Francisco-based payments company WebJet – Online travel agency Green Man Gaming – Popular digital game reseller Save the Children – Global charity organization NCR Silver – Point of sales systems One Shot Hotels – Spanish hotel chain Coupa Café in Palo Alto
PureVPN – VPN provider That’s my face – create action figures Foodler – North American restaurant delivery company Amagi Metals – Precious metal furnisher
Heres the list in a readable format
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Near Dylan
Shitpost Artist


Registered: 07/29/15
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Quote:
Here's the part of the list that people will actually read
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


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Re: Is Bitcoin actually a good investment? [Re: Near Dylan]
#24825055 - 12/04/17 07:34 AM (6 years, 1 month ago) |
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Unfortunately, BTC in its current state (massively increased demand/volume conjoined with a difficulty reaching consensus on implementing scaling proposals), makes it pretty much impossible to use for everyday (i.e. low monetary value) transactions because the fees associated with processing a single transaction in any semblance of reasonable time are just too high.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Stonehenge
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Registered: 06/20/04
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Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: geokills]
#24825331 - 12/04/17 10:44 AM (6 years, 1 month ago) |
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Patience, grasshopper, all these things will be fixed. The time lag and high fee problem are solved soon as the block size gets raised. Then it will be 8 cent fees again. The first few years I had bitcoin I never paid a fee at all and they went through fast.
New forks coming up
uranium platinum silver super cash plus
All those will be airdropped and promise to pay nice dividends. Bitcoin diamond has already happened and is said to be worth $50 right now. Many of them or maybe all of them have larger blocks, around 8mb. BCH is worth around $1500 and could conceivably take over from bitcoin or more likely will remain a side chain. BTG or gold is worth around $400, also a freebie.
The buzz is that major players are getting in. There will be a btc etf on the nyse according to rumor. This lets the public play without jumping through hoops at an exchange. I fully expect btc to hit 50k within 2 years. My past predictions have been too timid. When I said 10k by end of year possibly, people though I had gone off the deep end. But it happened in nov. Now I think 50k in 2 years. Might happen in '18, I will probably do some profit taking long about then. The side chain coins might be worth 10k by then too.
-------------------- “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
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge] 1
#24826268 - 12/04/17 05:33 PM (6 years, 1 month ago) |
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Warren Buffet once said to look in another direction and do what everybody's scared of.
Right now that's non-BTC cryptocurrencies. We got 10K bitcoin. Imagine we get 50K bitcoin, for the heck of it. It scares people off. It will turn people towards other cryptocurencies and if you're in before the big money is in, your positions may soar.
Stonehenge I love metal as much as you do, but, metal is what you solidify your profits with.
Go look at some cryptocurrency graphs. Most of the solid ones have appreciated 200-1000+% in the past few months.
I have seen DOZENS of currencies that are in the process of EXPLODING in the past days. A lot of people are getting rich with bitcoin and that money is going places. Lots of investor pressure too.
Its going ABSOLUTELY BANANAS.
Imagine having a $50 position in something that moonshots by two, three, four or five orders of magnitude.
-------------------- Omnicyclion.org higher knowledge starts here
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Stonehenge
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Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: Asante]
#24826381 - 12/04/17 06:14 PM (6 years, 1 month ago) |
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Yeah, its fun to speculate. But for every crypto that does great, there are probably a dozen that don't do well at all. I would even say ether though it has gone up and would be considered a winner if it was a stock. But compared to btc it has not done the job. I have some ether, it went up about 35% from when I bought it early this year. Not bad but not as good as the big one which went up over 1000%.
When something is pennies there is a chance it will go to dollars. when it is already dollars, it may slow down or drop. Many of those coins have been pre mined so any potential profit is already in the pockets of the principals. Some people have made a buck on alts, some have lost their shirt. Geo has analyzed many of them and given recommendations.
I say yes to 50k btc, yes to 50k bch and the other bitcoin spinoffs. Instead of coming out at a fraction of a cent, they start right off at tens or hundreds of dollars and go up. That is because they have the cachet of btc working.
-------------------- “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
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Near Dylan
Shitpost Artist


Registered: 07/29/15
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24826401 - 12/04/17 06:22 PM (6 years, 1 month ago) |
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just invest smart. dont just invest in a cryptocurrency because its a cryptocurrency. If you got big bucks youre willing to risk than sure, 50k bitcoin is fine and dandy. But if youre looking to dip your foot in investing, asante is right. Trying out smaller currencies that are growing fast and are likely to be focused on once the bitcoin hype starts to fizzle would be a nice way to spend a small amount of ccash and potentially make a decent chunk o change.
Take it from me, someone who knows nothing about investing whatsoever and simply jumped on the cyyptocurrency hype train lol
--------------------
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LogicaL Chaos
Ascension Energy & Alien UFOs




Registered: 05/12/07
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Loc: The Inexpressible...
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Re: Is Bitcoin actually a good investment? [Re: Near Dylan]
#24827200 - 12/05/17 05:37 AM (6 years, 1 month ago) |
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Diversfy yo bonds brotha!
Near Dyla knowz
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fractaldelic
Stranger


Registered: 02/27/17
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Re: Is Bitcoin actually a good investment? [Re: LogicaL Chaos]
#24834340 - 12/08/17 04:49 PM (6 years, 1 month ago) |
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I personally don't think we are in a bubble. The current state of things is unprecedented, there are no markets that exist that can compare to where bitcoin is now. Large institutions are going to be jumping on board with bitcoin and will be driving the price even higher.
I believe we will see 100k bitcoins within a few years from now.
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chibiabos
Cosmic Pond Scum



Registered: 03/16/17
Posts: 4,180
Last seen: 10 months, 10 days
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Re: Is Bitcoin actually a good investment? [Re: geokills]
#24834427 - 12/08/17 05:29 PM (6 years, 1 month ago) |
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Quote:
geokills said:

Unfortunately, BTC in its current state (massively increased demand/volume conjoined with a difficulty reaching consensus on implementing scaling proposals), makes it pretty much impossible to use for everyday (i.e. low monetary value) transactions because the fees associated with processing a single transaction in any semblance of reasonable time are just too high.
Not to mention that it seems to pretty much be backed up by the exchange of heroin, child porn and (I'd imagine) various blackhat services. And I guess that the plan is to cap the amount of bitcoin at 21 million, which makes it seem sort of like gold if gold could become obsolete as easily as a non-vital network protocol.
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chibiabos
Cosmic Pond Scum



Registered: 03/16/17
Posts: 4,180
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Re: Is Bitcoin actually a good investment? [Re: Asante]
#24834429 - 12/08/17 05:30 PM (6 years, 1 month ago) |
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Quote:
Asante said: Warren Buffet once said to look in another direction and do what everybody's scared of.
He also called bitcoin's value a mirage and has advised against investing in it.
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: Is Bitcoin actually a good investment? [Re: chibiabos]
#24835229 - 12/09/17 06:14 AM (6 years, 1 month ago) |
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Bitcoin's value IS a mirage.
Ythan could start ShroomCoin, it takes off on our site and from there takes to bittrex and from there straight to the stars and people will be paying 20000 bitcoins per ShroomCoin in 2020.
Crypto is a complete mirage because any new crypto could replace one without any predictable reason.
Still, mirages can be worth betting on if you're a gambling man.
-------------------- Omnicyclion.org higher knowledge starts here
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: Asante] 1
#24835387 - 12/09/17 08:34 AM (6 years, 1 month ago) |
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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
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24835400 - 12/09/17 08:44 AM (6 years, 1 month ago) |
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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
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: Asante]
#24835427 - 12/09/17 09:05 AM (6 years, 1 month ago) |
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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
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bacillus
Very Serious Mushronomer


Registered: 12/07/17
Posts: 394
Loc: Central Europe
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Re: Is Bitcoin actually a good investment? [Re: Asante]
#24835440 - 12/09/17 09:12 AM (6 years, 1 month ago) |
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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.
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24835496 - 12/09/17 09:41 AM (6 years, 1 month ago) |
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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
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: Asante]
#24835613 - 12/09/17 10:32 AM (6 years, 1 month ago) |
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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
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24835677 - 12/09/17 11:09 AM (6 years, 1 month ago) |
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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
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ashfiken
TotalCrazyasshole


Registered: 09/06/06
Posts: 3,072
Loc: SCranton
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Re: Is Bitcoin actually a good investment? [Re: Asante]
#24835869 - 12/09/17 12:26 PM (6 years, 1 month ago) |
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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
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ManianFH
living in perverty



Registered: 07/06/04
Posts: 14,741
Last seen: 15 hours, 3 minutes
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Re: Is Bitcoin actually a good investment? [Re: Asante]
#24836060 - 12/09/17 01:59 PM (6 years, 1 month ago) |
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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."
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chibiabos
Cosmic Pond Scum



Registered: 03/16/17
Posts: 4,180
Last seen: 10 months, 10 days
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge] 1
#24836529 - 12/09/17 06:20 PM (6 years, 1 month ago) |
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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...
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: ManianFH]
#24836538 - 12/09/17 06:26 PM (6 years, 1 month ago) |
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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
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chibiabos
Cosmic Pond Scum



Registered: 03/16/17
Posts: 4,180
Last seen: 10 months, 10 days
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24837786 - 12/10/17 01:52 PM (6 years, 1 month ago) |
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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.
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TheMule73
Stranger


Registered: 08/26/11
Posts: 1,797
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Re: Is Bitcoin actually a good investment? [Re: Asante]
#24838493 - 12/10/17 08:56 PM (6 years, 1 month ago) |
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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.
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: TheMule73]
#24838507 - 12/10/17 09:05 PM (6 years, 1 month ago) |
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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
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chibiabos
Cosmic Pond Scum



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

Registered: 12/06/06
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Re: Is Bitcoin actually a good investment? [Re: chibiabos]
#24839743 - 12/11/17 02:52 PM (6 years, 1 month ago) |
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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!!
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blackout


Registered: 07/16/00
Posts: 5,266
Last seen: 2 months, 23 days
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Re: Is Bitcoin actually a good investment? [Re: qman]
#24842378 - 12/12/17 04:42 PM (6 years, 1 month ago) |
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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
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ashfiken
TotalCrazyasshole


Registered: 09/06/06
Posts: 3,072
Loc: SCranton
Last seen: 1 hour, 17 minutes
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Re: Is Bitcoin actually a good investment? [Re: blackout] 1
#24843119 - 12/13/17 12:40 AM (6 years, 1 month ago) |
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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
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LightRay
Lord Hubert


Registered: 07/18/17
Posts: 598
Last seen: 5 years, 9 months
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Re: Is Bitcoin actually a good investment? [Re: ashfiken]
#24843223 - 12/13/17 03:46 AM (6 years, 1 month ago) |
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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)
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bacillus
Very Serious Mushronomer


Registered: 12/07/17
Posts: 394
Loc: Central Europe
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24843533 - 12/13/17 09:33 AM (6 years, 1 month ago) |
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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.
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Asante
Mage


Registered: 02/06/02
Posts: 86,794
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Re: Is Bitcoin actually a good investment? [Re: bacillus] 1
#24845328 - 12/14/17 09:04 AM (6 years, 1 month ago) |
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Right after I acquired some Ether, it increased by about half 
The 16 crypto basket took an uptick, now at +25% over investment.
Big 5 are higher.
Picked up a bit of extra NEO and Stratis.
-------------------- Omnicyclion.org higher knowledge starts here
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ManianFH
living in perverty



Registered: 07/06/04
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Re: Is Bitcoin actually a good investment? [Re: Asante]
#24845390 - 12/14/17 10:05 AM (6 years, 1 month ago) |
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lost out of my potcoin selloff opportunity. by the time i got home from work, well before i wouldve been able to crack open my paperwallet, load them to the client, and send them to my exchange, they were back down to .31 cents. wouldve been free money.. so now I wait again, however this time those particular cryptos will stay in my exchange for a quicker transaction.
-------------------- 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."
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Stonehenge
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Re: Is Bitcoin actually a good investment? [Re: Asante] 1
#24845458 - 12/14/17 10:56 AM (6 years, 1 month ago) |
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Asante, you are doing better than I, my investments have not gone up nearly 25% in that time. But the iota people talked me into buying has gone down, lol
-------------------- “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
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Asante
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Posts: 86,794
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge] 1
#24845505 - 12/14/17 11:20 AM (6 years, 1 month ago) |
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You'll overtake me easily. 
Maybe you should plant a field with a token sum in addition to having a few you invest heavily in.
Make a Top-16 of probable winners short and longer term and invest a token sum in each of them. If one makes 4 doublings, pow, the whole investment is paid for, and all the rest is pure gains.
Its kinda like investing in an index fund, rather than aim at the most probable winner you fire a grapeshot at the 16 (or 32) most probable winners - you aim at a market segment, bet on the race rather than on a horse.
We are NOT in competition, we are in synergy, just like on the gold train. If we have knowledge others don't, throw it into the forum and up for debate. If we can make all of Money Matters, millionaires, WE WIN. Pull peoples ear HARD, just like we did with Gold. The more of us join, the greater our netowork and extended network of expertise is. See Money Matters as an investment group with a shared interest. None of us has the market insight of all of us. we all benefit.
Verge (XVG) is going off like a rocket right now, just like Litecoin (LTC), keep a longer term eye on Stratis (STRAT), they got news around this month.
DO NOT UNDERESTIMATE DOLLAR & PENNY CRYPTO'S!
-------------------- Omnicyclion.org higher knowledge starts here
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Stonehenge
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Posts: 14,850
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Re: Is Bitcoin actually a good investment? [Re: Asante] 1
#24845615 - 12/14/17 12:19 PM (6 years, 1 month ago) |
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back in 2010 btc was mentioned here but few thought it was anything. In '11 I started picking up coin but I didn't know it was going to take off either. In 2014 and '15 I started being the pesky poster constantly urging people to get in because it was going to be big. Now I wish I had only hodled and bought instead of selling, instead of using mt gox, etc.
I see bch is up to 1800 today. I was trying to swap or sell my bch last week but had a problem with the wallet so my problem ended up making me money.
The iota you guys talked me into buying is down about 15%. But I'm not worried, it will go back up. I'm looking into some other alts
>Maybe you should plant a field with a token sum in addition to having a few you invest heavily in
Tokens don't interest me, I'm looking to make big bucks. I'm only heavy in btc, a speck in ether and a few thou of iota. Investing small means you take less risk but reduces the upside too.
>We are NOT in competition, we are in synergy, just like on the gold train. If we have knowledge others don't, throw it into the forum and up for debate. If we can make all of Money Matters, millionaires, WE WIN.
I tried to talk people into btc years ago but they didn't listen except geo and a few. Now that its way up they listen. Gold has been dead for so long, I just have it now for diversity. But your way is good for those who are cautious investors or who don't have a lot to gamble with. But its the wild and reckless investors who clean up. Or lose a shirt or two, lol. I don't consider myself reckless, I carefully research my investments but if its a winner I go whole hog, not a couple dollars. I would probably be better off selling my real estate and gold putting it all in btc and some alts but like you always tell us, don't put all your eggs in one basket.
-------------------- “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
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Asante
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Registered: 02/06/02
Posts: 86,794
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24846036 - 12/14/17 03:39 PM (6 years, 1 month ago) |
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Quote:
Stonehenge said: In 2014 and '15 I started being the pesky poster constantly urging people to get in because it was going to be big.
If only I had been a better listener or you'd pulled my ear harder. Wasn't your fault though I was stubborn as fuck.
-------------------- Omnicyclion.org higher knowledge starts here
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Stonehenge
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Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Is Bitcoin actually a good investment? [Re: Asante]
#24846223 - 12/14/17 05:07 PM (6 years, 1 month ago) |
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I didn't even listen to myself that well. I did buy quite a bit but then sold a bunch to grab a nice profit. Lucky for me I got back in earlier this year or I would be bitching on the sidelines even though I made a decent amount of swag. I could have easily 10 million right now in coin if I had been just a tiny bit wiser. Hundreds of millions if I had been prescient and only bought, invested more, not sold, and hodled. But coulda been is lame so I'm content with what I did do.
I fully expect btc to double in the next year or two which is a good return. But like you said, the cheap ones have more room to grow and can double in a week easily. At worst you may get stuck with a non performer that just sits there or goes down a little. Put a hundred into carefully selected alts and you might overall make 10x your money in a year. Put in a few thousand if you can and watch it grow. Even a few bucks is fun and a nice little hobby.
I listen to geo for the detailed analysis, listen to you for your strategic thinking, and try to watch what the public is doing. The fact btc is on the nyse means its still the king of coins and has lots of room to grow. It may double again in less than a year.
-------------------- “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
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oysters
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#24862886 - 12/22/17 08:56 PM (6 years, 1 month ago) |
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yes it is
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george698
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Re: Is Bitcoin actually a good investment? [Re: Stonehenge]
#25477851 - 09/21/18 12:04 PM (5 years, 4 months ago) |
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Quote:
Stonehenge said: Yes, you can buy gold, dope, legit stuff, tickets, etc. Below is a list of well known places that accept bitcoin. The formatting came out a little strange.
Those sites accepting bitcoin make a huge difference when looking at all coins, something in the range of 2000+ (Altcoins) which are dealt, some on daily bases on coinbase.
All coins which are not accepted by business' satisfy the ego of their founder. IHMO
When looking at trading platforms, look up their social networks (if there are any) Do they have a trust badge such as New Just Trust Badges? Research properly and you might get away without loses.
Edited by george698 (04/18/19 04:59 PM)
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