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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, 24 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, 23 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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Registered: 05/28/12
Posts: 1,884
Re: Now a good time to buy bitcoin? [Re: LogicaL Chaos]
    #26450923 - 01/24/20 10:34 PM (4 years, 23 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, 23 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, 23 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, 23 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, 23 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, 23 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, 23 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, 23 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, 23 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 (4 years, 9 days 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 (4 years, 9 days 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 (4 years, 9 days 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 (4 years, 9 days 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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