bitcoin

Good point but I think most know that Bitcoin is not going to be the big dog eventually. It started it all but there will always be something better that comes along.
I'd say smart move on his part. He's now rich beyond belief and it probably does matter to him.

Also he put his money into Bitcoin cash so technically he is still in crypto

 

You must mean litecoin. There is no owner of bitcoin

 

He was not the owner of bitcoin. he was the owner of bitcoin.com which is a website. He also created bitcoin cash so take what he says with a grain of salt. I have bitcoin cash to hedge my bets but just because he calls himself bitcoin Jesus don't his word as gospel

 

Keep hating fellas... I'll take this "fake" Monopoly money all day.

 

The really odd thing is Bitcoin doesn't have an owner. So maybe stop believing everything you read?

And... By the time you have read about it in mainstream media... You have already missed it.

 

I hoping my cryptotokens, Electroneum, take off. I have been trying to purchase some Ripple but I keep running into issues on most of the Exchanges, I ended up opting to buy some Ethereum on Coinbase (which is going to take 10 days!!!), then transferring the ethereum to bitstamp.com so I can use it to buy ripple.

The part that pisses me off is I wanted to buy ripple about 1 week ago back when it was less than $1.50 now it is up to $3.80. If only these Cryto exchanges worked properly...

 

I feel your frustration. Binance is acting up and giving me all sorts of issues and the money transfer times are ridiculous between coinbase etc. I set some stop losses low just to save my initial investments.

 

Coinbase is so damn slow. I use it only to get USD into the system, then move it. Other than last night/today, Binance has been nice! Makes things fun to not have to wait days for a trade.

 

Hmmm. What is your bitcoin backed by? Is it a currency, or is it an investment, or is it a collectible?
I'm a 25 yr vet as an investment advisor. You seem very up on this, so I figure I'll ask you some questions about this magic bean thing...

All day long? So, you're getting rich on this? Please, do tell me more.

 

What is the USD backed by? The government version of an IOU on a sticky note, worth 19.84 trillion?

Debt... The American way.

 

Wrong.

Nuclear bombs, the USMC, b52, Ronald Reagan Aircraft Carrier, the tax base of the most industrious nation on earth... and on and on.

Bit coin is like a beanie babie, but not as cute.

 

Lol. Love it or hate it, cryptocurrencies are here to stay.

 

With all these things backing it... It's weird we are still negative oh.. only about 20 trillion.

 

I can't help but read this over and over and just think to myself... Derp derp, America, derp derp.

 

Ok, so any idea of what the debt to equity ratio of the USA is? People yammered endlessly on Reagan for driving up the National Debt back in the day. Our economy massively outgrew the national debt.

Is irresponsible accumulation of National Debt bad? Of course it is. But if a person wants an anchor currency you can choose plenty of other things that ACTUALLY have value like; gravel, wood, gold, chickens, cows, live trees, raw land, ....

Meanwhile, Bitcoin and garbage like that has NOTHING backing it, nor is there any sort of company producing a profit from goods or services, they are not regulated, there is no official exchange, there is no independent audit of pricing.... NADA. Basically, bitcoin is backed by what was commonly referred to in the 1920's as "blue sky".

 

It doesn't sound like cryptocurrency is for you, and that's ok. Most of the reasons you don't like it are the same reasons crypto enthusiasts do.

 

The mid-collapse has started. I expected this... Do not sell off your investments, yet. It will go back up eventually, but expect to see massive losses over the next week or so. Luckily i did not invest much, just a little to play around with.
@Tiger Tanker
In theory cryptocurrencies are backed by the energy that was needed to produce them (mine them) and the future energy that will be needed to mine them. While I agree, they are not really backed by anything objectively speaking. Once the money stops flowing in, it may all collapse. Ahem AHem, Dot-com...

 

That’s the best saying I’ve seen in a while!!!

@COMiamiFan will you please get me a beanie baby for Valentines Day?

@Tiger Tanker thank you for making me spit my coffee all over my dash

 

Sooooo....would now (or the next week or so) be a good time to buy some?

 

Its hard to say. It could fall farther or it could turn around soon and continue on. We should get a bounce in the next day. where it goes from there will be the test.

 

Still applies: https://www.theonion.com/bitcoin-plunge-reveals-possible-vulnerabilities-in-craz-1821134169

 

Hold, hold, hold... or buy more. This happens every year. Check January charts for past years. It will pass.

 

The only thing that makes the USD worth anything is that you say its worth something.

Its deflationary. The federal reserve prints more money to pay bills which adds to the money supply which makes your money that you made for your work last year worth less this year. If you put money in a low interest savings account you lose money every year.

Its not backed by anything. Just because the county has Nuclear bombs does not mean our money is worth any more then the paper its printed on. Well its backed by the deal that cut with the suadis at the same time we went off the gold standard so its backed by oil. That is very likely to change soon since the Chinese are punishing to have the yen as an accepted means of buying oil. When that happens there is no need for the USD and it could tank. They also have nuclear bombs and they have loaned us 1.2 trillion dollars so how are we in a good financial place?

Im not saying bitcoin is good or bad in real life. I am saying those on here that are saying its beanie babies and are thinking they are smarter then everyone else are not. If you took your $10,000 that you kept in cash and held on to it for a year you now have the buying power of $9,735. (10,000 - (10,000 *.0265)) 2.65% is the inflation rate. If you bought bitcoin with it you would have the buying power of $124,136.08 as of this minute after the crash.
Bitcoin price was $821 exactly one year ago today.
10,000 / 821 = 12.18026796589525 bitcoins
Current price is 10469
10469 * 12.18026796589525 = 127,515.23
Account for inflation of 2.65% -$3379.15
127,515.23 - 3379.15 = $124,136.08

So as of right now even after bitcoin going down from $20,000 to $10.000 if you put the money into bitcoin instead of the bank you would have 12.41x more buying power or 2 brand new 2018 tundra platinum's.

 

I feel like this applies:

People who Just Don't care Anymore!

 

Heading to the store right meow!

 

How I feel about bitcoin https://youtu.be/JUBIU0gkWfs

 

How I feel about how much you know about bitcoin https://youtu.be/JUBIU0gkWfs

 

Cool story bro

 

You would be correct I don’t know enough about it. To me it just sounds scary. I don’t have enough money to be gambling with it like that. What little money I do have I would rather hold onto instead of risking losing it all. I guess I play things safe. Which is why I will probably never be a rich man. But I also won’t be poor. If I had a little more disposable income I probably would try it. But it this point my disposable income goes back into the family fund LOL.

And mod fund!

 

You hit it on the head for sure. Past 48 hours is a friendly reminder of how volatile it really is. The principles of investing carry right into crypto, now more than ever. I think the days of just chasing prices around are getting too risky. Risk = reward. You need to find the few companies/associated alt coins you believe in, and as they say in cryptoworld - "HODL".

For the record (that no one gives a shit about), I got out of Bitcoin formal and now play in the alts. BTC wasn't risky enough. At that astronomical price, all I can afford is fractions. So even if Bitcoin 10x... I get minimal gains nothing. The game for little guys is altcoins that are still at friendly pricing, and have a real shot at big things.

Here is a video describing one - VeChain/VEN. I am 100% NOT telling you to go get some, but its a well made video describing a real world use case of blockchain technology, and a real world company doing big things with it.

https://www.youtube.com/watch?v=JcX7jQcdExc&feature=youtu.be

-Jim