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Bitcoin is going to ruin a ton of people mainly millennials

longdi

longdi

Banned
Has there been any large institutional investors buying bitcoins? I see a lot of noise coming from small individuals, those lucky enough to mine some with cheap GPUs.

Like i asked, what is stopping the creator from leaking the master key and destroying it all? I bet most bitcoin buyer dont even know how the program really works or if it really works.

That said, i wonder who were the ones paying higher and higher for it since the start of the year? Is somebody artificially driving up the prices?

Can i buy etherum now? Whats is a good place to buy and store my coins?
 
Razorback

Razorback

Member
longdi said:
Has there been any large institutional investors buying bitcoins? I see a lot of noise coming from small individuals, those lucky enough to mine some with cheap GPUs.

Like i asked, what is stopping the creator from leaking the master key and destroying it all? I bet most bitcoin buyer dont even know how the program really works or if it really works.

That said, i wonder who were the ones paying higher and higher for it since the start of the year? Is somebody artificially driving up the prices?

Can i buy etherum now? Whats is a good place to buy and store my coins?
Click to expand...

Coinbase seems to be the best place for newbies to get started. You can buy Bitcoin, Etherium and Litecoin there. It has higher transaction fees than other places, but is insured and has an extremely simple interface. Later you may want to switch to GDAX when you start to get the hang of things. GDAX also belongs to coinbase. I don't know much about the alternatives, I'm also still learning.
 
llien

llien

Member
The harshest assessment came from Nobel laureate Joseph Stiglitz, who said that bitcoin "ought to be outlawed. Bitcoin is successful only because of its potential for circumvention," he told Bloomberg TV. "It doesn't serve any socially useful function." Robert Shiller, who won a Nobel for his work on bubbles, said the currency appeals to some investors because it has an "anti-government, anti-regulation feel. It's such a wonderful story," he said at a conference in Lithuania, according to Bloomberg. "If it were only true."
 
M

MNDan

Neo Member
longdi said:
Has there been any large institutional investors buying bitcoins? I see a lot of noise coming from small individuals, those lucky enough to mine some with cheap GPUs.

Like i asked, what is stopping the creator from leaking the master key and destroying it all? I bet most bitcoin buyer dont even know how the program really works or if it really works.

That said, i wonder who were the ones paying higher and higher for it since the start of the year? Is somebody artificially driving up the prices?

Can i buy etherum now? Whats is a good place to buy and store my coins?
Click to expand...

Nominating this for the dumbest post of 2017. "Leak the master key! How does this program even work?"
 
D

diabl0

Member
Like any investment, there is a risk, but people who take risks, either lose, or gain a lot from from it. Then theres pessimists who believe in only working their 9-5 job, climbing the career ladder, and everything else is considered 'greed' and a 'waste of time'. This what separates the young people who achieve their goals before they hit 40, to the people, who work their asses off till 60 and rely on their pension to relax in their crappy years.

With respect to bitcoin, there is a risk involved if you invest. One thing is for sure. I purchased $1000 of bitcoin earlier last year, cashed in a little and then purchased etherium, and a bunch of other different coins, and I have made more in a year then I have made in my job in the last 2 years combined, and i am a full stack senior developer, so salary is no slouch. I have not pumped any more money in, just that $1000 investment which I have gained back. Yes you will need to put a larger investment into bitcoin nowerdays to get a decent return, OR, switch to an alternative coin and your risk would be alot less.

People just like to talk shit based on silly facebook ads and a few google news articles. If you actually delve into the subject (which is hugeeee) you will begin to understand the use of cryptos.
 
A

Atrus

Gold Member
ha.isu.bk said:
Let's say you cash out...100k.do u pay any taxes on it in the USA ?
Click to expand...

You’re supposed to declare the gains. I believe bartering provisions might also kick in if you simply cash out into another type of crypto currency. Ie. transferring your bitcoin into ethereum.
 
longdi

longdi

Banned
So which undervalued bitcoins can you buy now? Im going to throw 25% of my savings in hope i can be a millionaire next year.

I mean the og bit coin only has 21million unique coins, surely gold chaser will want to speculate on the next hot crypto currency
 
DonMigs85

DonMigs85

Member
I don't have a ton to invest so right now I'm mostly in Xtrabytes and Billionaire Token with a little bit of Litecoin and Cardano. Used to be in Golem and RLC but they aren't really growing for now.
 
xStoyax

xStoyax

Banned
longdi said:
Has there been any large institutional investors buying bitcoins? I see a lot of noise coming from small individuals, those lucky enough to mine some with cheap GPUs.

Like i asked, what is stopping the creator from leaking the master key and destroying it all? I bet most bitcoin buyer dont even know how the program really works or if it really works.

That said, i wonder who were the ones paying higher and higher for it since the start of the year? Is somebody artificially driving up the prices?

Can i buy etherum now? Whats is a good place to buy and store my coins?
Click to expand...

https://www.coinbase.com/join/5a012bca9b5b0d00ef9db7be

I bought ethereum last week
 
P

prophetvx

Member
DouglasteR said:
Seems like i wasnt optimistict enough.

20k by jan.

100k by March
Click to expand...

It wouldn't surprise me if we're back at $8k by Monday, which as insane as it is, is only about a 10 day retracement. This pump is ridiculous right now and this futures market going live on Sunday will cause some pretty massive short term instability.

The big unknown is the huge influx of casual investors making it way too difficult to predict. I'm planning on selling 25% of my holdings and rebuying the inevitable dip.
 
T

Tadaima

Member
I'm doing day trading and the high volume of trades is helping me to beat the market. Withdrawing about 1% of earnings into $ daily. It's a rollercoaster ride though, so I wouldn't recommend it if you are an emotional type.

Using Coincheck for it since Japan currently accounts for 60% of btc trade and this exchange has an English language version. There are other good alternatives too, many with APIs.

Congrats to all who are finding success with crypto.
 
quickwhips

quickwhips

Member
My buddy has 8 bitcoins and wants to stay in and let it ride. I’m shocked I wish I had bought some at 100 dollars.
 
BANGS

BANGS

Banned
I have no idea what's going on but if i had some of them things I'd sell right fucking now lmfao
 
Vigilant Walrus

Vigilant Walrus

Member
Are Dogecoins still around?


I think Blockchain is here to stay. The idea is incredible interesting.I It will be wild to see how the world would look like with countless currencies.

In gaming we already have games and services where you turn real cash into a point currency. And so you can use that currency within that ecosystem.
 
Blam

Blam

Member
Vigilant Walrus said:
Are Dogecoins still around?


I think Blockchain is here to stay. The idea is incredible interesting.I It will be wild to see how the world would look like with countless currencies.

In gaming we already have games and services where you turn real cash into a point currency. And so you can use that currency within that ecosystem.
Click to expand...

Yes Doge coin is still around.

Enjincoin is for that actually. They want a currency that's universal for games, but also unique to each one.
 
C

cubicle47b

Member
I sold around $16K. Probably a mistake, but the volatility on GDAX was starting to worry me. Eth futures are on their way a few weeks after bitcoin so that might pump soon. Crypto might cover my house down payment if I play my cards right.
 
wondermega

wondermega

Member
This has been crazy and fascinating to watch. I threw a couple hundred dollars in about a week ago, and it essentially doubled by the time it cleared. I want this to soar as much as I want it to plummet :/
 
J

Javaman

Member
What happens to the liquidity of Bitcoin if the price drops back down to $1000 and the vast majority of miners stop processing the transactions? I could see it going into a death spiral.
 
C

CSJ

Member
For the first time a week ago I started trying to make a profit on trades and managed to make almost a grand with that drop last night. Set an alarm to warn me when it drops below and amount.....woke me up at 5am!

But it's too stressful holding all that cash with the risk of it never dropping back.
I don't think I'll do it again, drops often happen with I'm at work with customers or asleep :(

To think what one could do just doing that all day, I made half a months pay for two transactions for fuck sake. Tiny in comparison to what others are trading out there!
 
N

Nipo

Member
cubicle47b said:
I sold around $16K. Probably a mistake, but the volatility on GDAX was starting to worry me. Eth futures are on their way a few weeks after bitcoin so that might pump soon. Crypto might cover my house down payment if I play my cards right.
Click to expand...

I bought my house in cash selling at 9k. No regrets.
 
T

The Mule

Member
I sold half my bitcoins. Can't say no to that cold hard cash.

This way I'm already ahead in terms of returns on initial investment, but I'm still in the game if bitcoins continues to rise. You know what they say, "Don't invest what you can't afford to lose." That goes both ways. Don't pass on cashing out investments you can't afford to miss.

This bubble has to pop at some point.
 
PSYGN

PSYGN

Member
The Mule said:
I sold half my bitcoins. Can't say no to that cold hard cash.

This way I'm already ahead in terms of returns on initial investment, but I'm still in the game if bitcoins continues to rise. You know what they say, "Don't invest what you can't afford to lose." That goes both ways. Don't pass on cashing out investments you can't afford to miss.

This bubble has to pop at some point.
Click to expand...

I would've done the same.
 
M

ManDudeChild

Member
I have a couple hundred in cash I won through a scratch ticket and want to let it roll by putting it into crypto currency. I know 200 isn't much but what can I do with it and which exchange do you guys recommend? I'm in Canada so I would need one that can do transactions with ease.
 
P

prophetvx

Member
ManDudeChild said:
I have a couple hundred in cash I won through a scratch ticket and want to let it roll by putting it into crypto currency. I know 200 isn't much but what can I do with it and which exchange do you guys recommend? I'm in Canada so I would need one that can do transactions with ease.
Click to expand...

QuadrigaCX is a decent Canadian exchange. They do BTC, BCH, BTG, LTC and ETH. Depending on your bank they accept interac online.

Take your pick what you want to invest in, even if you have fractions of something the gains are still the same.
 
K

Kurt Angle

Member
The Mule said:
I sold half my bitcoins. Can't say no to that cold hard cash.

This way I'm already ahead in terms of returns on initial investment, but I'm still in the game if bitcoins continues to rise. You know what they say, "Don't invest what you can't afford to lose." That goes both ways. Don't pass on cashing out investments you can't afford to miss.

This bubble has to pop at some point.
Click to expand...

thats the right way to do it.

be happy with the gains, but also play it safe. Every bubble pops.
 
D

DarkLinkage

Member
What is the best place to trade in Australia?
Apparently Independant Reserve is great, but what about others.

I just want to see what I can do with a few hundred, for fun (mostly).
 
MultiCore

MultiCore

Member
gatti-man said:
In other words it’s backed by nothing.
Click to expand...
In this context, 'backed' is an interesting concept.

Gold isn't really backed by anything. It's worthless to most people.
The dollar is only backed by the government, as is any fiat currency these days.

Money is only a means of exchange because we agree that it is.

If we all agree Bitcoin should be a means of exchange, it will be... Unless external forces intervene.
 
womfalcs3

womfalcs3

Banned
The Mule said:
I sold half my bitcoins. Can't say no to that cold hard cash.

This way I'm already ahead in terms of returns on initial investment, but I'm still in the game if bitcoins continues to rise. You know what they say, "Don't invest what you can't afford to lose." That goes both ways. Don't pass on cashing out investments you can't afford to miss.

This bubble has to pop at some point.
Click to expand...

This is exactly what gambling is.
 
G

g11

Member
I don't think BTC or cyrpto is a bubble, but BTC in Nov/Dec 2017 is IMO. It was up nearly 300% in Nov/Dec over the end of October, and that's after it spent October getting back to a near high after losing around 40% the end of September after China FUD'd the markets. That's not sustainable. I got out just shy of $18,000 after buying in back in late July @ $2800 on BTC and @ $148 on ETH.

I took my gains from ETH and started getting out into the weeds a little bit back in October. At the time, I got in on XML kind of late ($0.041) but doubled my position to $4000 when it fell back to $0.025 which turned out to be a real winner. I missed a few boats here and there. I bought LTC too high @ $71 (before it dropped to ~$38) and then panicked sold when it reached break even before Thanksgiving. Then it went to $100 and eventually $170 before falling back to around $140. I bought some IOTA at $1.00 after watching it sit at $0.50 for what felt like months.

I still plan to buy back in on BTC and possibly ETH and LTC after the incoming market correction but for now the market just looks too unstable for an amateur like myself. A history of BTC I read showed that it generally suffers a 40%+ correction after new highs, but this is AFAIK an unprecedented run so it'll be interesting to see if that paradigm still stands or not.

While the past 6 months have been fun and lucrative, I don't think a day has passed since I began investing in crypto that I don't think about April 2016 when on a lark I bought some Bitcoin to make some...purchases. It was just over $400 per BTC at the time. If only I knew then what I know now...
 
K

Kimawolf

Member
Atm crypto is like a stock market in how it moves with bull and bear waves. But instead of month or years like the stock market. Crypto moves in hours days and weeks. Much shorter turn around time.

I do think crypto currency is here to stay and eventually there will be only a few left standing.

Atm for instance Ripple seems like a good bet. But who knows what tomorrow will bring. All i know is I madeva lot of money from Bitcoin since its been in its bubble phase.
 
Link1110

Link1110

Member
Neverwinter27 said:
Anyone still sitting on their coins as of today
Click to expand...
Believe me, I had my coin base app open thinking about getting out, but decided not to causr I knew it's go back up eventually cause these things usually do. I went to bed and woke up to see litecoin up a hundred bucks from the dip. Still thirty less than I bought for last week, but I'm gonna hold out long term and keep buying a little every week. Maybe it won't be tomorrow but I edited litecoin to eventually catch up with bit coin
 
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