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[HagglesworthMD]

You created this thread on November 27th. According to coinmarketcap the price was $9997. If people invested the day you posted and pulled out today, they'd still be up over 15% in 1.5 months.

Gatti is gonna come back to post each and every time BTC dips no matter how many times people call him out

 

[cubicle47b]

I’m down to what I was at on Jan 1st. Well, I was at the lowest point. Now I’m up 20%. If only I’d listened to gatti-man.

 

[gatti-man]

Nope. Price was certainly not at 10k. Idk what coinmarketcap is but the price was way above that.

You created this thread on November 27th. According to coinmarketcap the price was $9997. If people invested the day you posted and pulled out today, they'd still be up over 15% in 1.5 months.

 

[gatti-man]

Gatti is gonna come back to post each and every time BTC dips no matter how many times people call him out

Being down 50% in a month isn’t a dip. Classic bitcoin investor talk. This is gambling. If you can’t see that by looking at the chart idk what to tell you. Bitcoin has zero future

 

[prophetvx]

Nope. Price was certainly not at 10k. Idk what coinmarketcap is but the price was way above that.

Coin Market Cap is the leading price aggregator, I would trust their historical trends over your statements. BTC didn't hit $17k till mid December.

Do you know who business insider are? Here is an article from November 29th.
http://www.businessinsider.com/bitcoin-price-closes-in-on-11000-on-november-29-2017-11

How about Forbes?
https://www.forbes.com/sites/france...irrational-beliefs-of-investors/#71d28c31c4f4

It seems that every news search for November 27 - November 30 seem to suggest that BTC broke the $10k barrier for the first time around November 28th.

I don't understand why you feel the need to lie about it's value at the time of your post, it's easily disproven. You could have waited a week or two and you may have been able to claim it's less than when you posted.

 

[HagglesworthMD]

Being down 50% in a month isn’t a dip. Classic bitcoin investor talk. This is gambling. If you can’t see that by looking at the chart idk what to tell you. Bitcoin has zero future

This dip has happened this time each year for the past 4 years running so it seems like you are the one who is unfamiliar with the charts.

 

[cubicle47b]

Nope. Price was certainly not at 10k. Idk what coinmarketcap is but the price was way above that.

Aggregate exchange prices are fake news.

 

[cubicle47b]

Actually guys, bitcoin is down 75%. You don't remember last year when it hit $40,000? I don't know what cryptowatch or coin market cap is, but I'm pretty sure it hit $40,000 sometime just before I warned you all the bottom was going to drop out of the market and that you're all idiots.

 

[cubicle47b]

Not to spam too much, but the total crypto market cap on November 27th was 300 billion dollars. Right now, during a 40% correction, the total crypto market cap hit its low point at 493 billion dollars. That's a 64% increase, during a crash, in under 2 months. edit: Excluding bitcoin, the cap went from 138 billion to 306 billion.

 

[HagglesworthMD]

Not to spam too much, but the total crypto market cap on November 27th was 300 billion dollars. Right now, during a 40% correction, the total crypto market cap hit its low point at 493 billion dollars. That's a 64% increase, during a crash, in under 2 months. edit: Excluding bitcoin, the cap went from 138 billion to 306 billion.

I'm hoping this shakes out alot of shitcoins with no utility and gives more traction to solid prospects with a strong roadmap.

 

[cubicle47b]

I can see people moving away from low market cap coins to solid coins that are platform coins or have a bunch of business relationships. Ethereum is certainly the biggest of these, but Neo, Icon, and VeChain look extremely solid.

 

[shpankey]

Funny story, I put $11 in bitcoin Jan 30th 2016 just trying to pay for some service and totally forgot about it until today. Best investment I’ve ever made. Lol

 

[womfalcs3]

I can't help but laugh at this crytocurrency craze. While I think you can make money off of it (although it's technically gambling), the end point is clear. The legislative bodies around the world will ensure its demise. The only people who are really taking it seriously are young people who want a new hot thing to blow up.

 

[Grinchy]

If there's one good thing about bitcoin for me, it's that I can use it to put money into an online poker account. Banks won't put cash in directly, but you can buy bitcoin and send that over immediately.

 

[longdi]

Bitcoin prices are moving lower and sideways. I know from lessons that market history has scant effect on future prices...buy on dips or gtfo while it is still 10k...

 

[Blam]

I can't help but laugh at this crytocurrency craze. While I think you can make money off of it (although it's technically gambling), the end point is clear. The legislative bodies around the world will ensure its demise. The only people who are really taking it seriously are young people who want a new hot thing to blow up.

Want it to blow up? It's already blown up.

 

[jadedm17]

I can't help but laugh at this crytocurrency craze. While I think you can make money off of it (although it's technically gambling), the end point is clear. The legislative bodies around the world will ensure its demise. The only people who are really taking it seriously are young people who want a new hot thing to blow up.

Craze is what I was saying years ago when it was $100, then again at $180 and $300. I still find it all absolutely insane but even I can't deny it's far from a craze and far from being just a young person thing. Bitcoin may or may not be at it's end* but I think the rest of these currencies still have at least another year or two of making a lot of people a lot of money.

*There's several articles predicting a low of $8k but to surge back to $20k, 50k or more in 2018. I have no clue anymore.

 

[Kadayi]

I have a small bit of spare cash to play around with. I presume Bitcoin is past its prime for investment at this juncture given the downward trend, but how about Ethereum?

Also any recommendations of wallets? I signed up for Coinbase, but there seems to be a slew of bad reviews, so I'm not sure whether I should bother with it versus go elsewhere.

 

[Grinchy]

Also any recommendations of wallets? I signed up for Coinbase, but there seems to be a slew of bad reviews, so I'm not sure whether I should bother with it versus go elsewhere.

I'm completely new to it, but I ended up using Coinbase after Bitstamp spent 2 weeks leaving my ID verification in "Pending" status. Coinbase verified me in minutes.

The problem is with small transactions. Coinbase charges a $12 transfer fee.

 

[Kadayi]

OK Grinchy. Good to know. I was planning on just buying a few hundred $, and just wait to see whether there's an uptick over time. I'm not going to be frantically trading day in day out.

 

[Grinchy]

OK Grinchy. Good to know. I was planning on just buying a few hundred $, and just wait to see whether there's an uptick over time. I'm not going to be frantically trading day in day out.

You should be ok then. Buying the coin doesn't have a very big fee. It's just transferring it to another wallet, I guess.

I haven't gone through the process of selling it so I don't know what those fees are like. Maybe someone in here will know.

 

[shpankey]

You should be ok then. Buying the coin doesn't have a very big fee. It's just transferring it to another wallet, I guess.

I haven't gone through the process of selling it so I don't know what those fees are like. Maybe someone in here will know.

If using coinbase, I just transferred $33 out straight to my bank account, no muss, no fuss. No exchange or whatever, just straight from them straight into my account into real dollars. In this case, BoA, but there are some other banks supported as well. Fee was $1.99

Buying coin (Bitcoin, Bitcoin Cash, Ethereum and Litecoin cost me .99 for each purchase for each) and it came straight from my checking account.

 

[womfalcs3]

Want it to blow up? It's already blown up.

Craze is what I was saying years ago when it was $100, then again at $180 and $300. I still find it all absolutely insane but even I can't deny it's far from a craze and far from being just a young person thing. Bitcoin may or may not be at it's end* but I think the rest of these currencies still have at least another year or two of making a lot of people a lot of money.

*There's several articles predicting a low of $8k but to surge back to $20k, 50k or more in 2018. I have no clue anymore.

I still think cryptocurrency is nascent. First off, legislative bodies around the world are just now beginning to draft bills or consider regulation of cryptocurrency. Secondly, even if its value is what, $750 billion, that is negligible compared to the value of traditional currencies being traded globally (Hell, even in the US alone, where $5.4 trillion of dollars are traded DAILY.).

 

[Kadayi]

Judging by the long-term movement it seems all the big players hit record highs just before Christmas (no doubt as a result of media coverage), but are now trending downward, so I figure I'm going to wait to see how things go over the next week or so before committing any funds to see if there's some stabilization, as there's no point buying into a loss. Etherurm & Litecoin look to be the better investments given percentage growth versus bitcoin, but again, it depends whether they level out somewhat.

 

[gatti-man]

Coin Market Cap is the leading price aggregator, I would trust their historical trends over your statements. BTC didn't hit $17k till mid December.

Do you know who business insider are? Here is an article from November 29th.
http://www.businessinsider.com/bitcoin-price-closes-in-on-11000-on-november-29-2017-11

How about Forbes?
https://www.forbes.com/sites/france...irrational-beliefs-of-investors/#71d28c31c4f4

It seems that every news search for November 27 - November 30 seem to suggest that BTC broke the $10k barrier for the first time around November 28th.

I don't understand why you feel the need to lie about it's value at the time of your post, it's easily disproven. You could have waited a week or two and you may have been able to claim it's less than when you posted.

I’m not lying that’s my recollection that it was at 17k when I posted this thread.

 

[prophetvx]

I’m not lying that’s my recollection that it was at 17k when I posted this thread.

Well your recollection is wrong. The first response to this thread even lists the price at around $8,800, almost half the value you're claiming. As of right now, the value is about $4,250 above that value.

I'm sure at some point in the near future, it will indeed crash further below $10k. Then slowly recover it's value like it always has.

 

[Dr. Mario]

Still, it's going to be banned. That part is inevitable. Bitcoin now uses more energy than the country of the Netherlands, and it is only going to become worse. It's destroying climate change agreements, and that for a thing that evades government control. The banhammer will come down soon, as long as govts can find a way not to create a lot of human misery in the process. Key is to maximize profits before that.

 

[bukowski81]

I always thought it was an interesting idea but a gamble. Now its flat out dangerous. The writing is on the wall for BTC and it astounds me that so many are putting everything they have behind it. Millennials trust technology too much and current BTC value means exactly the same thing as it did when it was .01 per BTC. Thats what people dont understand. BTC value is entirely up for interpretation all the time. Its not like gold or stock or currency backed by a govt.

What Im trying to say is when BTC goes away, and it will because of the energy requirements, the harm done to an entire generation is concerning to me.

While the energy consumption is a real issue, you just dont seem to understand why money or gold or anything has value, let alone how cryptos work. But your worries for the "harm done to an entire generation" are laughable. How many bitcoin users do you think there are? Much much less than .05% of the population of the world.

 

[Kadayi]

Still, it's going to be banned. That part is inevitable. Bitcoin now uses more energy than the country of the Netherlands, and it is only going to become worse. It's destroying climate change agreements, and that for a thing that evades government control. The banhammer will come down soon, as long as govts can find a way not to create a lot of human misery in the process. Key is to maximize profits before that.

That aspect is definitely something I find off-putting about Bitcoin, especially given there's still a tonne of coins to still mine and the energy costs involved are getting higher and higher.

 

[Einherjar]

I think we'll see one more major dip when people finally accept the death of USDT (Tether) and it'll start soaring in price from there.

 

[EviLore]

Tether really needs to be addressed. Glad the general crypto community is pressing that issue before it gets even more out of hand, but there will probably be some more short term market consequences on the other side of it yeah.

Also, with all respect to Gatti-man (whose concerns about reckless speculation are totally valid, though perhaps he shouldn't stick to his guns about what the price of BTC was vs the irrefutable historical record on a particular day haha), I could create a new Crypto/Bitcoin/whatever thread for Off-Topic that I could act as host for, provide some informational resources, and give hopefully balanced commentary on questions folks have about virtually anything in the crypto space.

 

[HagglesworthMD]

Tether really needs to be addressed. Glad the general crypto community is pressing that issue before it gets even more out of hand, but there will probably be some more short term market consequences on the other side of it yeah.

Also, with all respect to Gatti-man (whose concerns about reckless speculation are totally valid, though perhaps he shouldn't stick to his guns about what the price of BTC was vs the irrefutable historical record on a particular day haha), I could create a new Crypto/Bitcoin/whatever thread for Off-Topic that I could act as host for, provide some informational resources, and give hopefully balanced commentary on questions folks have about virtually anything in the crypto space.

They're printing 100 million new Tether each day, crazy..

And yep I'd be keen on a crypto thread!

 

[MNDan]

Still, it's going to be banned. That part is inevitable. Bitcoin now uses more energy than the country of the Netherlands, and it is only going to become worse. It's destroying climate change agreements, and that for a thing that evades government control. The banhammer will come down soon, as long as govts can find a way not to create a lot of human misery in the process. Key is to maximize profits before that.

Here - let's solve this little problem for u...

 

[TBiddy]

A dedicated thread might be a good idea. I'm sure there are good deal of folks on the forum who has invested in cryptocurrency.

 

[Blam]

Tether really needs to be addressed. Glad the general crypto community is pressing that issue before it gets even more out of hand, but there will probably be some more short term market consequences on the other side of it yeah.

Also, with all respect to Gatti-man (whose concerns about reckless speculation are totally valid, though perhaps he shouldn't stick to his guns about what the price of BTC was vs the irrefutable historical record on a particular day haha), I could create a new Crypto/Bitcoin/whatever thread for Off-Topic that I could act as host for, provide some informational resources, and give hopefully balanced commentary on questions folks have about virtually anything in the crypto space.

Yes Tether also just dropped a cent and might drop another which means they just ruined the 1:1 value of their coin.

 

[O.v.e.rlord]

Here - let's solve this little problem for u...

Dude doesn’t address the issue of how much energy it takes to mine. But he puts it off on power companies and location. So basically saying “shop around to find the best locations to set up your energy sucking machine.”

 

[prophetvx]

Dude doesn’t address the issue of how much energy it takes to mine. But he puts it off on power companies and location. So basically saying “shop around to find the best locations to set up your energy sucking machine.”

The intrinsic value of bitcoin and most crypto currencies for that matter, is the cost and time to mine them. It's no different to mining physical commodities in that regard. The real problem that bitcoin in particular faces is the transactional cost, which is wildly exorbitant compared to established norms when processing fiat currencies.

Governments won't ban en masse, it's way too distributed and move your business to another country. There has been way too much wealth generated for countries to reject the capital gains revenue. Not to mention many are actively looking at creating or investing in their own crypto. Bitcoin does face huge scaling issues and it's initial purpose has been all but wiped out, you can't price goods based on a value that fluctuates 10-30% on a daily basis.

 

[interactivemonodrama]

how can you be sure that exchange platform is trustable ?

 

[Kadayi]

Tether really needs to be addressed. Glad the general crypto community is pressing that issue before it gets even more out of hand, but there will probably be some more short term market consequences on the other side of it yeah.

Also, with all respect to Gatti-man (whose concerns about reckless speculation are totally valid, though perhaps he shouldn't stick to his guns about what the price of BTC was vs the irrefutable historical record on a particular day haha), I could create a new Crypto/Bitcoin/whatever thread for Off-Topic that I could act as host for, provide some informational resources, and give hopefully balanced commentary on questions folks have about virtually anything in the crypto space.

Given I don't even know what Tether is a dedicated Cryptocurrency 101 thread would be cool.

 

[ThatStupidLion]

Ive gone from complete noob to having a solid grasp and understanding of blockchains, the market, the altcoins, the regulations, and the future, in the past month. Took a lot of time and reading/watching but its amazing industry to learn about. At first the more i read and thought i understood, the more i ended up confused, then it just clicked. I certainly made some rookie moves in my first investments but its all a learning process. Theres a lot of awful/clueless discussion so far in this thread, a dedicated crypto ot would be great!

 

[shpankey]

I could create a new Crypto/Bitcoin/whatever thread for Off-Topic that I could act as host for, provide some informational resources, and give hopefully balanced commentary on questions folks have about virtually anything in the crypto space.

Pretty please do!! We need one for us newbies who are just getting into it seriously. I don’t even know what a tether is, but it sounds important. Plus your crypto knowledge is legendary from what I hear.

I want to go really low level but sink about $1,200 more in this year total at about $50 every 2 weeks so I would love to hear from gaf’rs.

 

[HagglesworthMD]

how can you be sure that exchange platform is trustable ?

You can't. Why its recommended to use a hardware wallet.

 

[mr2xxx]

WhatA crazy ride the past few months have been.

 

[Droxcy]

Now would be a good time to toss a couple hundred in there and just keep it. I had put decent amount in there mid-year and got out before the December drop, but now that it's this low I'd almost put some back in and see where it goes.
Unless it stays in the middle somewhere until something crazy happens again, then causes it to spike up to 19k again. Who knows with Crypto Currency just a guessing game in my eyes.

 

[PSYGN]

I'm surprised OP hasn't rushed back into the thread.

 

[Ragnaroz]

Now would be a good time to toss a couple hundred in there and just keep it. I had put decent amount in there mid-year and got out before the December drop, but now that it's this low I'd almost put some back in and see where it goes.
Unless it stays in the middle somewhere until something crazy happens again, then causes it to spike up to 19k again. Who knows with Crypto Currency just a guessing game in my eyes.

Don't get in now, it's spiraling down. I'd wait for it to drop to a few hundreds then get in and wait for the next bubble, if it ever happens.

 

[comshoplesce]

Titanic going down?

 

[The Mule]

just sell now and wait 2-6 months before buying back in

 

[Marky Mark]

If there's one good thing about bitcoin for me, it's that I can use it to put money into an online poker account. Banks won't put cash in directly, but you can buy bitcoin and send that over immediately.

Why not just skip the poker account and continue doing your gambling directly through the bitcoin "market"?

 

[hellorichard]

Ruin millenials? Nah son, I'm a millenial and I became well-off because of Bitcoin. Only stupids will be ruined by Bitcoin