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OfflineSpinScratch
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Now a good time to buy bitcoin?
    #26392234 - 12/20/19 10:22 AM (4 years, 1 month ago)

I'm thinking of dropping 10K of savings on bitcoin today.  10K that I'm not going to need to touch for a long time. Im talking 5, 10 years down the road at least. Is bitcoin a good investment right now?

EDIT: Also I'm having a hell of a time finding a place to buy it. Coinbase kicked me out. Binance says it wont verify someone from US, and wont sell without verification. Blockchain also wont sell to me because I'm in US. and Cash App wont either.... wtf.


Edited by SpinScratch (12/20/19 10:37 AM)


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InvisibleHartford
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Re: Now a good time to buy bitcoin? [Re: SpinScratch]
    #26392347 - 12/20/19 11:54 AM (4 years, 1 month ago)

That's a terrible idea. Trump is about to start his last term as president, that is good for commodities like Gold and silver, not so good for very specualive investments like invisible currencies.

What made bitcoin and other cryptocurrencies valuable, the ability to buy drugs for one, is becoming irrelevant with decriminalization knocking on the doorstep of so many.

The exit strategy would require rich buyers with a zeal for anarchy to trust in something invisible, which is a rare phenomenon, especially when many are losing wealth and finding stability in tangible wealth.

You're much better off figuring out what you know you're going to need in the future and buying it now, or buying gold.

New cryptocurrencies are being invented every day so that will undercut your investment significantly, and don't be a fool.

The value of cryptocurrencies is a bubble that will pop. It's not a matter of "if", but a matter of "when", when someone comes up with a more convincing digital scam to sell you nothing but perceived wealth in a schizophrenic environment.


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OfflinegeokillsA
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Re: Now a good time to buy bitcoin? [Re: SpinScratch]
    #26392769 - 12/20/19 04:46 PM (4 years, 1 month ago)

Still speculative but still offering a decent thesis, I would want (and have) some exposure to this asset class.  Bitcoin is best of breed in that it is one of the few truly decentralized digital assets and has the strongest network effect.  Furthermore, wealth concentration on bitcoin is decreasing, as opposed to most altcoins where increasingly more wealth is concentrated in the hands of the few, which ultimately leads to instability and volatility.

On obtaining BTC, did you try Binance's new US based arm Binance.us? And of course, LocalBitcoins should be an option.


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Offlinetimecube
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Re: Now a good time to buy bitcoin? [Re: SpinScratch]
    #26392799 - 12/20/19 05:07 PM (4 years, 1 month ago)

Maybe.

But then again, maybe not.


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Offlinecryptowizard
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Re: Now a good time to buy bitcoin? [Re: timecube]
    #26393013 - 12/20/19 07:28 PM (4 years, 1 month ago)

Bitcoin will go up, but not nearly as much as XRP. I know I know, banker's coin, but trust me when I say, you have no idea what's coming. This is the opportunity of a lifetime and it would be a shame to miss out. Right now it's 20 cents and 10K would buy you 50K. Assuming things work out as expected, you'll have all you need for you and kids to do whatever you want with your life.

BTC has no utility, it doesn't scale, it's too slow, too volatile, and miners are selling 10 billion a year to cover costs. That's 10 billion in new money that has to come in every year just to tread water.

Not financial advise. I think diversifying is a good plan, but invest in utility. XRP, Chainlink, NPXS, Prelixxer (when available), VET, NPXS, and others are good options. BTC will do okay, but all it has going for it is first mover advantage and name brand recognition.


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OfflineAGUARES
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Re: Now a good time to buy bitcoin? [Re: cryptowizard]
    #26448827 - 01/23/20 06:52 PM (4 years, 6 days ago)

Quote:

cryptowizard said:
Bitcoin will go up, but not nearly as much as XRP. I know I know, banker's coin, but trust me when I say, you have no idea what's coming. This is the opportunity of a lifetime and it would be a shame to miss out. Right now it's 20 cents and 10K would buy you 50K. Assuming things work out as expected, you'll have all you need for you and kids to do whatever you want with your life.

BTC has no utility, it doesn't scale, it's too slow, too volatile, and miners are selling 10 billion a year to cover costs. That's 10 billion in new money that has to come in every year just to tread water.

Not financial advise. I think diversifying is a good plan, but invest in utility. XRP, Chainlink, NPXS, Prelixxer (when available), VET, NPXS, and others are good options. BTC will do okay, but all it has going for it is first mover advantage and name brand recognition.




Just curious on how you can be so confident in XRP? Or any crypto for that matter.


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OfflineLogicaL ChaosM
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Re: Now a good time to buy bitcoin? [Re: SpinScratch]
    #26450877 - 01/24/20 10:02 PM (4 years, 4 days ago)

How come Coinbase kicked you out?

Have you tried https://bitcoin.org/en/buy?


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InvisibleBayerPhi
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Re: Now a good time to buy bitcoin? [Re: LogicaL Chaos]
    #26450923 - 01/24/20 10:34 PM (4 years, 4 days ago)

Use the Mycelium wallet app, go to their marketplace, and find a seller.
Only incidences of coinbase rejecting people that I know of, are from them tracing the bitcoin to a wallet that then moved to a wallet of Darkweb vendor.


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OfflineLogicaL ChaosM
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Re: Now a good time to buy bitcoin? [Re: BayerPhi]
    #26450930 - 01/24/20 10:38 PM (4 years, 4 days ago)

Yeah, I think I read that too. I read its recommended to use a private wallet on another site.


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InvisibleBayerPhi
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Re: Now a good time to buy bitcoin? [Re: LogicaL Chaos]
    #26450945 - 01/24/20 10:50 PM (4 years, 4 days ago)

Hey kids, wanna buy some bitcoin?

Yeah, you're gonna need a ledger and a safe too.


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OfflineLogicaL ChaosM
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Re: Now a good time to buy bitcoin? [Re: BayerPhi]
    #26450946 - 01/24/20 10:52 PM (4 years, 4 days ago)

Never heard of these digital things. But sounds interesting.


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InvisibleBayerPhi
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Re: Now a good time to buy bitcoin? [Re: LogicaL Chaos]
    #26450962 - 01/24/20 11:06 PM (4 years, 4 days ago)

It's the new paradigm for ridding the world of the dollar's dominance.
They've already killed untraceable cash, let's move everyone to the new social credit and payment system that tracks every purchase ever made.
While we're at it, let's get the QR codes tattooed on our arms so that we have no choice but to participate.


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OfflineLogicaL ChaosM
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Re: Now a good time to buy bitcoin? [Re: BayerPhi]
    #26450967 - 01/24/20 11:11 PM (4 years, 4 days ago)

Do you think in the future you could buy Bitcoin with QR tattoos?


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InvisibleBayerPhi
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Re: Now a good time to buy bitcoin? [Re: LogicaL Chaos]
    #26450968 - 01/24/20 11:13 PM (4 years, 4 days ago)

Quote:

LogicaL Chaos said:
Do you think in the future you could buy Bitcoin with QR tattoos?




No, because I'd have mine tattooed on my ass. That way only my future wife can take everything I've ever worked for and own like she was meant to.

She took the kids and the dog too, man...


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OfflineLogicaL ChaosM
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Re: Now a good time to buy bitcoin? [Re: BayerPhi]
    #26450970 - 01/24/20 11:15 PM (4 years, 4 days ago)

:lol:

:notsureif:


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InvisibleBayerPhi
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Re: Now a good time to buy bitcoin? [Re: LogicaL Chaos]
    #26450971 - 01/24/20 11:18 PM (4 years, 4 days ago)

Quote:

LogicaL Chaos said:
:notsureif:




:howyoudoing:


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InvisibleMr. Alien
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Re: Now a good time to buy bitcoin? [Re: BayerPhi] * 1
    #26475426 - 02/08/20 12:45 PM (3 years, 11 months ago)

I started with 7000$ in 2016

I now have about 480,000$ in 2020 and growing.

So crypto was for me life changing :shrug:


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OfflineLogicaL ChaosM
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Re: Now a good time to buy bitcoin? [Re: Mr. Alien]
    #26475549 - 02/08/20 01:52 PM (3 years, 11 months ago)

Whoa! :incredible:

Congrats on that! Wow! Have you cashed out or are you waiting for even more increases?


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InvisibleMr. Alien
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Re: Now a good time to buy bitcoin? [Re: LogicaL Chaos] * 1
    #26475603 - 02/08/20 02:25 PM (3 years, 11 months ago)

Bitcoin halving will happen in a couple of months. I wouldn't cash out before that event. Every 4 years there is a bitcoin halving event, the amount of bitcoins that the miners get are cut in half. So, mathematically, it will limit the offer and increase the demand aka scarcity.

I might consider to cash out something in 2021.


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OfflineLogicaL ChaosM
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Re: Now a good time to buy bitcoin? [Re: Mr. Alien]
    #26475607 - 02/08/20 02:27 PM (3 years, 11 months ago)

Very cool.

Bitcoin has definitely made me some money, its a proven crypto for sure.

Have you invested in other coins too?


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InvisibleMr. Alien
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Re: Now a good time to buy bitcoin? [Re: LogicaL Chaos] * 1
    #26475613 - 02/08/20 02:29 PM (3 years, 11 months ago)

I have Bitcoin and lots of other alt coins. Alts are performing really good right now! Tezos is the alt that i like the most.


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OfflineLogicaL ChaosM
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Re: Now a good time to buy bitcoin? [Re: Mr. Alien]
    #26475882 - 02/08/20 05:46 PM (3 years, 11 months ago)

Tezos definitely looks good. Wasn't it invented by Jeff Bezos or something?

Im kinda leaning on XRP right now. Looks promising.


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InvisibleMr. Alien
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Re: Now a good time to buy bitcoin? [Re: LogicaL Chaos] * 1
    #26475926 - 02/08/20 06:07 PM (3 years, 11 months ago)

It was developed by french people that i know.


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OfflineLogicaL ChaosM
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Re: Now a good time to buy bitcoin? [Re: Mr. Alien]
    #26475934 - 02/08/20 06:11 PM (3 years, 11 months ago)

huh, interesting.


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OfflineSpinScratch
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Re: Now a good time to buy bitcoin? [Re: LogicaL Chaos]
    #26477728 - 02/09/20 10:38 PM (3 years, 11 months ago)

Werll I dropped $8000 on 1 bitcoin about 3 weeks ago. Now it's up to $10,000. I gotta figure out when its time to pull out because I defintely missed the boat a couple years ago. Hopefully I get a second chance.


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Invisiblesh4d0ws
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Re: Now a good time to buy bitcoin? [Re: LogicaL Chaos] * 1
    #26477746 - 02/09/20 10:51 PM (3 years, 11 months ago)

Quote:

LogicaL Chaos said:
Tezos definitely looks good. Wasn't it invented by Jeff Bezos or something?

Im kinda leaning on XRP right now. Looks promising.




The concept of tezos, and what it was meant to be was invented by arthur breitman

he is an ex-morgan stanley analyst, and yes he is french (from france)

the coders who built tezos are mostly french, however people all over the world are now working on various parts of the tezos ecosystem, the majority of the development of main net occurred in france


fuck jeff bezos I probably would have never invested if he started tezos :tongue2:


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OfflinegeokillsA
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Re: Now a good time to buy bitcoin? [Re: sh4d0ws] * 1
    #26477782 - 02/09/20 11:16 PM (3 years, 11 months ago)

Quote:

sh4d0ws said:
fuck jeff bezos I probably would have never invested if he started tezos :tongue2:




Although his track record is pretty solid.  Wouldn't have minded gettin' in on the Amazon IPO :tongue2:


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OfflineLogicaL ChaosM
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Re: Now a good time to buy bitcoin? [Re: geokills]
    #26480989 - 02/11/20 08:11 PM (3 years, 11 months ago)

IPO? Is that a stock thang?


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OfflinegeokillsA
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Re: Now a good time to buy bitcoin? [Re: LogicaL Chaos] * 1
    #26481183 - 02/11/20 10:47 PM (3 years, 11 months ago)

IPO: Initial public offering.  "Public" meaning publicly traded on an exchange.  The "initial" generally meaning you get in on the ground floor of the public offer (not nearly as good as the founding and early investors, but for a company that makes it, it's still a very nice place to be).  So yeah, a stock thang.


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OfflineLogicaL ChaosM
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Re: Now a good time to buy bitcoin? [Re: geokills]
    #26481419 - 02/12/20 05:08 AM (3 years, 11 months ago)

:awesome:

Thanks for the definition. Looks like I have much to learn in this world of money :strokebeard:


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InvisibleMr. Alien
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Re: Now a good time to buy bitcoin? [Re: LogicaL Chaos] * 1
    #26481538 - 02/12/20 07:51 AM (3 years, 11 months ago)

Tezos is making me rich. Jesus.


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Invisiblesh4d0ws
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Re: Now a good time to buy bitcoin? [Re: Mr. Alien]
    #26481967 - 02/12/20 01:04 PM (3 years, 11 months ago)

Quote:

Mr. Alien said:
Tezos is making me rich. Jesus.




:manofapproval:


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OfflineLogicaL ChaosM
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Re: Now a good time to buy bitcoin? [Re: Mr. Alien]
    #26482368 - 02/12/20 05:24 PM (3 years, 11 months ago)

U played the crypto-markets just right my friend. Congrats :thumbup:


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InvisibleMr. Alien
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Re: Now a good time to buy bitcoin? [Re: LogicaL Chaos]
    #26483424 - 02/13/20 10:16 AM (3 years, 11 months ago)

This can only get better and better! I'm predicting a life-changing 10X from here. The stockmarket is hyperinflated, it seems like the FED is injecting shit tons of money to the financial economy and is becoming a bubble, I can see that because i see evidence of people like Warren Buffet and Jeff Bezos selling a shit ton of their shares, they know is a bubble. THE FED is printing a lot of money as well and using it to inflate the financial economy.

Instead of injecting richness to the REAL economy which is the people that produces livestock or wheat in example which would produce abundance, they inject it to the Financial economy, meaning the FED uses the money they print to buy Shares and bonds, etc. Is just a fucking bubble waiting to pop. After it pops, we are going to enter into another recession like the one we had in 2008. The FED is just a BIG scam that has been going on for decades. This is why Bitcoin and other cryptocurrency will surge

As this happens people gets angry and social unrest increases and they start blaming the financial economy (capitalism) instead of looking at the REAL problem which is the FED. The financial economy has nothing to do with it. But people blame it, and then this is why people start thinking that capitalism is broken and they start voting for socialist crap which is even worst. And then when people see socialism is a shit hole they start looking at conservatism again and is the same cyclical shit. Conservatism gives the ilusion that capitalism works but in reality they use the FED to scam everyone at the end. Or when they offer protectionism to big companies so small companies can't compete with them in exchange for raising taxes. That is NOT capitalism.. Real capitalism is FREE market for everyone, same playing ground for Everyone.

I really hope a libertarian party is allowed to participate in the next presidential debates. All we want is full economic freedom, no central banks that can manipulate interest rates and print money. And total economic freedom and social freedom as well. If you want to open up a business, without stupid regulations that would make it really hard for you to open it up and once you open it, without excessive taxes that would stall it. If you want gay marriage or smoking weed in the streets, do it :shrug: . I want a minarchist government that would only focus in security and justice and only charging taxes for that, the more the government increases the public sector the more taxes they will charge and the less efficient it will become :shrug:. Nothing can't compete against the private initiative and the free market, they will always try to offer the best product or service at the best price, otherwise they will receive the punishment message of the free market and go broke.

Tell me guys, tell me a single oligarchy or monopoly that became that without government intervention (aka natural oligarchies or natural monopolies). They don't exist, they never have existed. Not a single one. Truly free market is the most fair system but we never actually had a truly free market, never. There is always government intervention. A government should only offer security and justice, and they should not intervene in the economy in ANY WAY. They should only guarantee equality before the law. That should be their only fucking job.


Edited by Mr. Alien (02/13/20 11:13 AM)


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OfflineTripsurfer
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Re: Now a good time to buy bitcoin? [Re: Mr. Alien]
    #26483675 - 02/13/20 12:46 PM (3 years, 11 months ago)

Yeah Im also waiting for the bubble to burst. Deutsche Bank is technically bankrupt (and the reason Angela Merkel did a 180 on EU countries providing back-up for eachothers banks). The Corona virus outbreak is not helping either


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OfflineBabylon
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Re: Now a good time to buy bitcoin? [Re: SpinScratch]
    #26500893 - 02/24/20 04:21 AM (3 years, 10 months ago)

Bitcoin has had it's day in my opinion.  I wouldn't be surprised if it has dropped to zero in ten years.  I'd suggest a more diversified crypto portfolio.  Etherium is probably the safest, Monero is also pretty reliable but it is definitely possible they will be replaced by something better and become worthless.

To qualify my response, I was involved in bitcoin back when it cost less than a penny.  I could have been wealthy if I had protected it more carefully, as it is I got a fair amount of good drugs, and a TV for my ex wife out of it.


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OfflinegeokillsA
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Re: Now a good time to buy bitcoin? [Re: Babylon] * 1
    #26501106 - 02/24/20 08:50 AM (3 years, 10 months ago)

Quote:

Babylon said:
Bitcoin has had it's day in my opinion.  I wouldn't be surprised if it has dropped to zero in ten years.




It could be the case...  On the other hand, bankers in San Francisco are regularly offering me increasingly large amounts of money for my claim in the bankrupt Japanese MtGox estate.  MtGox has recovered somewhere between 15-20% of the assets creditors are claiming, and is tied up in litigation with two creditors who are claiming unreasonably large sums of money that the estate's trustee is not willing to pay, thus an appeals process in the Japanese courts that can hold up the final payout to claimants for several years.  In the meanwhile, Fortress Investment Group started sending me mailings to buy my claim months ago for $600/"gox" coin, then $900, and just last week FedEx'd a $1200/coin offer.

Granted the anticipated payout value of a "gox" coin based on the information available is around $2000, which indicates the current Fortress offer is a 40% discount to the expected payout; however if big money is so eager to continue buying up millions of dollars worth of BTC claims from a bankrupt estate which entails an unknown payback period, I would wager that bitcoin still has some sizable room to run.


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