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egoslap
Goat



Registered: 05/08/17
Posts: 138
Last seen: 6 years, 6 months
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Earthsweeties] 1
#24458524 - 07/05/17 06:46 AM (6 years, 6 months ago) |
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Quote:
Earthsweeties said: Will there come a time when all the people stashing them want to sell though? And the price tumbles...
No because theres no major bitcoin holders who can pump and dump and in share / stock trading when the market bubbles or inflates (time to sell) is typically when all the newer investors come in because it is all over the media.
It might sound obvious to say buy low and sell high but the facts are the majority of investors in any market actually do the opposite.
This is because they are typically not professional traders and people tend to buy in based on media hype when in fact this is the time the pro's are all selling.
On the opposite side of things everyone sells when they are in fear and this is typically the time the pro's will buy in!
As a bitcoin investor, you don't need to sell out completely either, you sell on the hype; make a profit and then buy in again when the bubble drops thus profiting or increasing your share hold.
There is going to come a possible time soon when the market will drop massively (temporarily) and thats when / if bitcoin unlimited comes into play. IMO At this present moment investors don't need to think about this however.
I'd suggest doing as much research as possible on what bitcoin is and how supply and demand effects markets if you want some edge on what is happening.
Edited by egoslap (07/05/17 06:52 AM)
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Earthsweeties
Curioso
Registered: 10/06/16
Posts: 59
Last seen: 5 years, 5 months
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: egoslap]
#24458570 - 07/05/17 07:15 AM (6 years, 6 months ago) |
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Quote:
egoslap said:
Quote:
Earthsweeties said: Will there come a time when all the people stashing them want to sell though? And the price tumbles...
No because theres no major bitcoin holders who can pump and dump
...
I'd suggest doing as much research as possible on what bitcoin is and how supply and demand effects markets if you want some edge on what is happening.
Are there not? I'd imagine there are numerous people with many 1000s of coins stashed from the early days, not that they necessarily would want to manipulate the market deliberately, but they may wish to "cash in" at some point. I trust you have more smarts on the topic than I though!
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howsyournaggerdoin
Happy


Registered: 02/04/16
Posts: 1,600
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Earthsweeties]
#24458596 - 07/05/17 07:29 AM (6 years, 6 months ago) |
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The creator of bitcoin has like a million or so but he hasnt sold any of them
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: howsyournaggerdoin]
#24459018 - 07/05/17 11:22 AM (6 years, 6 months ago) |
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Good post, egoslap. That is how it works for btc and for most commodities. The creator of btc and his 1m coins may be dead or have lost the key to his wallet. Not one coin has moved since he mined them. Keep in mind that at the time, coin was worth basically nothing so 1m coins looked like a few bucks worth. He may have been very careless and had a hard drive crash and not saved the keys. It seems likely he would have moved or sold a few coins in all that time. Even more likely to have moved many of them to other wallets once the value went way up. I suspect those coins are dead same as many others people have reported losing. People toss out old computers with $10 worth of coin that now are worth perhaps 200k. Guaranteed people have bitterly regretted mistakes they made
There is no huge block controlled by speculators so a major crash is unlikely. I too was expecting a crash, hopefully down below 2k at least but while it did go down it never went that low. That was the people cashing in who bought cheap. The steady demand from all over the world meant that the crash which might have gone below 1k never went very low and has bounced back. Just today I bought over $18k of coin at a slight discount. I'm sold on it, I plan to buy more btc and ether too.
I had over 150 coins at one time and sold most of them cheap compared to todays prices. Live and learn, I'm in for the long haul now. At a minimum they will beat inflation to say nothing of bank rates. At a maximum they will go way up and perhaps be 10k each in a few years or less. Another nice benefit is the taxman has no idea and a burglar can't break in and steal them.
Long as you take some precautions you are safe. Have a backup of your keys in safe deposit. There are rules against storing cash in sd but no rules about coin, not yet anyway. Keep the seeds to your wallets in a safe place.
-------------------- “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: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Stonehenge] 1
#24459598 - 07/05/17 04:06 PM (6 years, 6 months ago) |
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"a major crash is unlikely"
famous last words.
weren't you pushing for 100 dollar silver on here for like years?
-------------------- Anxiety is what you make it.
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: LunarEclipse]
#24460178 - 07/05/17 08:11 PM (6 years, 6 months ago) |
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no i wasn't
So if there is no major crash below the present price you will come back and admit I was right? doubt it.
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LunarEclipse
Enlil's Official Story


Registered: 10/31/04
Posts: 21,407
Loc: Building 7
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Stonehenge]
#24461167 - 07/06/17 06:29 AM (6 years, 6 months ago) |
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Quote:
Stonehenge said: no i wasn't
So if there is no major crash below the present price you will come back and admit I was right? doubt it.
OK sorry I could have sworn you were a 100 buck an ounce silver prognosticator. Maybe if I remember you were pushing bitcoin at 3k I'll come back and remind you of that fact when it drops back below 1k?
-------------------- Anxiety is what you make it.
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: LunarEclipse]
#24463476 - 07/06/17 09:31 PM (6 years, 6 months ago) |
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>OK sorry I could have sworn you were a 100 buck an ounce silver prognosticator. Maybe if I remember you were pushing bitcoin at 3k I'll come back and remind you of that fact when it drops back below 1k?
I'm sure you would but your memory might not be so good if it never drops anywhere near there and gradually goes up. BTW, I was not pushing btc when it was 3k, I made no posts at that time. It is still quite high, bouncing around 2500 and yes I'm bullish on it. I don't think the huge fast gains we saw when it was 300 will repeat soon, let alone the gains from when it was a few dollars. But it will go up.
The only other solid coin I see is ether. That too has done most of its fast rising and we will look for gradual gains. My position is trying to get rid of cash and put it somewhere safe, anon, and with a reasonable upside on appreciation. BTC does that and I'm also putting more into gold. I don't think gold will appreciate as much as fast but it takes up less room in a safe deposit box.
Real estate is a decent investment but takes so much work, I don't plan to buy any more in the near future. Besides, that is the opposite of anon, its wide open.
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george castanza
Lord Of The Idiots!


Registered: 10/21/02
Posts: 8,721
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: geokills]
#24475891 - 07/11/17 04:53 PM (6 years, 6 months ago) |
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Quote:
geokills said: Frankly, if you have money sitting around doing nothing, that you don't need, it makes perfect sense to allocate a small portion of your assets to bitcoin and/or ether. These are the first viable new means for currency in a thousand years. I have no doubt the volatility will be gut wrenching, which is why I don't even try to trade these things. Just stash some away as part of your asset diversification strategy. Reward is proportional to risk. If you aren't going to take the risk, you aren't going to be rewarded.
Of course, if you are struggling to get by, living paycheck to paycheck and saddled with debt, pay off your debts before you do anything else.
Honestly, I do have more ready cash than I need and will spend in the foreseeable future. As I'm thinking about it the only reason I haven't pulled the trigger on at least one btc is laziness, I don't like doing anything if it's the least bit of a hassle. Btw, I have zero collectable debt, and I own property as well.
-------------------- KRAMER CAKES


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ChemicalSpark


Registered: 10/08/15
Posts: 2,057
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: george castanza]
#24475949 - 07/11/17 05:17 PM (6 years, 6 months ago) |
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.
Edited by ChemicalSpark (03/29/20 04:34 PM)
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LogicaL Chaos
Ascension Energy & Alien UFOs




Registered: 05/12/07
Posts: 69,325
Loc: The Inexpressible...
Last seen: 29 minutes, 41 seconds
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: george castanza]
#24476024 - 07/11/17 05:51 PM (6 years, 6 months ago) |
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U own property and have a case of laziness?
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: LogicaL Chaos] 1
#24481317 - 07/13/17 08:38 PM (6 years, 6 months ago) |
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Ether and most crypto coins have crashed. I only bought 1k of ether luckily, lost 40% so far. Glad I didn't get serious with it but it will recover eventually, maybe. Ripple dropped way down along with the rest of the also rans.
But bitcoin while it did dip some 20% has stayed on its feet. Still over 2300 as we speak. Didn't someone say it would crash? Looks like btc is the winner. I bought over 10k of it today, sent the guy cash in the mail got a little discount too. I hope to get back up to 150 coins again. Then its to the moon! Anyone want to sell me their bitcoin?
-------------------- “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: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Stonehenge]
#24481398 - 07/13/17 09:15 PM (6 years, 6 months ago) |
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I'm sure Ethereum will eventually rally back up, and Ripple as well. Just a matter of how long.
I'm still up on everything. I got lucky and found out about and bought into ETH at $6 a coin, ripple at .08 cents.
My portfolio climbed pretty high though and has dropped 45-55 % since mid June
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: sh4d0ws]
#24493421 - 07/19/17 04:14 AM (6 years, 6 months ago) |
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I find it questionable to buy high, or to get in on trend followers of a trend that peaked.
Second Life.
In 2002 virtually the first virtual world to open its doors has been Second Life. It was crappy, but it was the pioneer the game changer, the bitcoin of virtual worlds.
It became the biggest, even when the technology and graphics quality started to fossilize over time.
now its 2017. SL is a FIFTEEN YEAR OLD VIRTUAL WORLD PLATFORM.
A fossil. You might as well hear a dialup tone when connecting.
But! Virtual worlds came and went, better nd better, but none of it made it up to the level of popularity that SL kept going. "its great, but its no second life!"
Unless there comes a cryptocurrency that is a DRAMATIC GAMECHANGER I am skeptical of new cryptocurrencies. They're no bitcoin!
Random things do not happen. If one of the new currencies will be the best thing since sliced bread, its because of favorable properties compared to bitcoin that could be anticipated now.
Study!
Geokills - what say ye?
-------------------- Omnicyclion.org higher knowledge starts here
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 6 hours, 24 minutes
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Asante]
#24494272 - 07/19/17 02:20 PM (6 years, 6 months ago) |
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I generally agree with the sentiment. Bitcoin is the first on the scene, is the most widely adopted (thus proven) and so it has the benefit of a strong tailwind. However, the ability to execute programs (i.e. "smart contracts") on the blockchain is a pretty dramatic functional improvement over a simple numerical ledger. It's not so much that these new blockchain implementations (e.g. Ethereum, Tezos, et al) are cryptocurrencies so much as they are a different platform altogether. They have an attribute that in part functions as a cryptocurrency, however their intended use is not as a store of value, but as a platform with which to execute transparent contractual agreements that eliminate counterparty risk.
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
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Errl_Shmirl
New Kid On The Block



Registered: 03/25/17
Posts: 263
Loc: Southern Plains
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: geokills]
#24494286 - 07/19/17 02:27 PM (6 years, 6 months ago) |
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I'm putting my money on the fact the Federal Reserve is disgusted with crypto currencies and I feel like they will somehow find a way to collapse it to keep us all focused on the dollar. I do absolutely love the privacy of it. I hope Bitcoin lasts forever
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Stonehenge
Alt Center


Registered: 06/20/04
Posts: 14,850
Loc: S.E.
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Errl_Shmirl]
#24494732 - 07/19/17 05:57 PM (6 years, 6 months ago) |
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$30M stolen from ether wallet. I thought I would put this here since ether was mentioned.
http://www.coindesk.com/30-million-ether-reported-stolen-parity-wallet-breach/
Smart contract coding company Parity has issued a security alert, warning of a vulnerability in version 1.5 or later of its wallet software.
So far, 150,000 ethers, worth $30 million, have been reported by the company as stolen, data confirmed by Etherscan.io. As reported by the startup, the issue is the result of a bug in a specific multi-sig contract known as wallet.sol. Data suggests the issue was mitigated, however, as 377,000 ethers that were potentially vulnerable to the issue were recovered by white hackers.
Parity ranked the severity of the bug as "critical" in its public remarks, urging "any user with funds in a multi-sig wallet" move their funds to a secure address.
-------------------- “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: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Stonehenge]
#24494877 - 07/19/17 07:03 PM (6 years, 6 months ago) |
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-------------------- Anxiety is what you make it.
Edited by LunarEclipse (07/19/17 07:05 PM)
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viktor
psychotechnician



Registered: 11/03/10
Posts: 4,293
Loc: New Zealand
Last seen: 1 year, 9 months
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: LunarEclipse]
#24495481 - 07/20/17 02:45 AM (6 years, 6 months ago) |
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This bitcoin shit just sounds like magic beans to me.
-------------------- "They consider me insane but I know that I am a hero living under the eyes of the gods."
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pineninja
Dream Weaver



Registered: 08/17/14
Posts: 12,468
Loc: South
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: viktor]
#24495497 - 07/20/17 02:58 AM (6 years, 6 months ago) |
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I'll say it once I'll say it here.
Graphite.
-------------------- Just a fool on the hill.
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