Where are you getting your bitcoin from?
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Where are you getting your bitcoin from?
No one is buying anymore?
Bought a couple dips at 4k about 6 weeks ago. Really goofed and missed the 3k dip about 3 weeks ago. Been hodling/buying since I got in at 1k.Quote:
Originally Posted by ICantLogIn
Got into ETH at $12 and hodling there as well with one dump during the big spike in June/July.
Pretty much the smartest dude I know has been a full-time crypto analyst for the last 5 years. Wish I was wise enough to get in when he did.
This shit is real and when the old dinosaurs finally croak you will kick yourself if you don't throw some pocket change in now and wait.
By dinosuars, I guess he means morons like Warren Buffet. Right......what's that old fool know about value, huh?Quote:
Originally Posted by Whiteroom_Guardian
here's what Buffett had to say:
"Stay away from it. It's a mirage basically. It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money too. Are checks worth a whole lot of money? Just because they can transmit money? I hope bitcoin becomes a better way to do it. But you can replicate it a bunch of different ways. The idea that it has some huge intrinsic value is just a joke in my view."
Never said the old guard were morons. Many of them refuse to adopt new technology. I mean why would they? They made their fortune the old way and will be dead when the new way becomes totally relevant.Quote:
Originally Posted by neckdeep
What many like Warren fail to understand is that bitcoin/crypto are finite unlike fiat currency/checks.
There is no way to simply "print" more BTC once all the coins have been mined.
If tomorrow there was an announcement that the last nugget of gold was mined on earth what do you think would happen to it's value?
We'll see what happens when derivative trading on crypto starts. It's a one sided market now.
With regard to "last ounce" of gold. More gold is owned in derivatives and traded every day than the next 100 years of production.
https://uploads.tapatalk-cdn.com/201...286eee3458.jpg
ETH huh....
Are bitcoins bought in fractions? If so, that's another way to artificially expand supply.Quote:
Originally Posted by Whiteroom_Guardian
How about NEO anyone in?
There will only ever be approximately 21M bitcoin in existence. Once all the blocks are mined that's it.Quote:
Originally Posted by huckbucket
It's like if there were only ever 21M USD ever printed. Sure you could buy $10 dollars here and there, but the value would continue to increase as it's usage becomes more widespread and commonplace without the ability to just make more money whenever we want to.
If I anticipate its value to increase rapidly, why would I ever spend it?Quote:
Originally Posted by Whiteroom_Guardian
Another two hard forks coming one on the 25th.
https://www.coinspeaker.com/2017/09/...in-october-25/
This right here is how you get a bubble. And eventually a crash.Quote:
Originally Posted by Sirshredalot
poised to possibly hit $6k by years end....
get in and get out is what i think the play is with Bitcoin.
I going to hang on to some for a while. Play with some and spend some. Not just bitcoin but Neo, dash...Quote:
Originally Posted by Skidog
Not really. The situation is more like if there were only ever 21M USD ever printed and there's nothing stopping the Canadians or any other financially sound nation from introducing an equally dependable dollar for alternative use in America. In fact, maybe you should drop the analogy to sovereign currency seeing as how cryptocoins have no similar sovereign monopoly. Nothing prevents a rival crypto from stealing bitcoin's thunder. Bitcoin has no underlying substance beyond its secrecy, security and a head start on general acceptance. Bitcoin doesn't pay dividends. It's not a share of a business. You can't make jewelry with it. There are no industrial applications for something that only exists virtually. The analogy to 21M USD falls apart because currencies are not really like gold. Currencies face competition from other currencies, gold does not. A bet on bitcoin's eternal appreciation is basically like betting on a bank's checks because a rival bank can dilute the market by issuing equally reliable checks. A bet on bitcoin is basically a bet that other cryptos won't gain the same level of acceptance that bitcoin has. That's Buffet's point.Quote:
Originally Posted by Whiteroom_Guardian
Nota Bene: You can't produce something that is virtually identical to gold in everything but name. You sure as hell can produce something that is virtually identical to bitcoin in everything but name. And, that is the real definition of "finite". Ergo, rationalize bitcoin all you want....it ain't fucking gold and anyone who tells you its as good as gold has a vested interest in Bitcoin. Caveat emptor.
The gold/not printing money analogy is clearly a loose one. It's meant to give a rough idea for people who have zero understanding of crypto. Right now that's most people.Quote:
Originally Posted by neckdeep
Is it the future of money? Possibly. Could the thing fail? It's possible, but not likely right now. Basically mathematics as we know it would have to fail for BTC to go away.
When the first cars were on the road of course the horse and buggy people laughed at them and called it a fad, and a wise few took a chance and got in the car business themselves.
I'll risk a few thousand for the chance to be part of something really big. Like it or not some really freaking intelligent people around the world are buying coin and riding the wave to see where it goes.
Bitcoin lacks the liquidity to be currency, and its intrinsic value is pretty suspect. It’s unique. I don’t understand what that gets you.
The second something comes along that matches bitcoin’s ability to represent an exchange of value in secrecy and security, your bitcoin will be worth nil.
In the meantime, ride the wave, man.....
Think we hit $5000. today?
Bitcoins were NEVER meant as an investment vehicle. That type of soulless thinking fucks up the very premise of Bitcoin. Bitcoins came about as a way to deal with the eventuality of a cashless, electronic funds transfer world, yet STILL be as anonymous as cash. Something very much needed. More so now than ever before, in fact.
EDIT:
Every single government in the world (well, maybe except for Switzerland ;) ) is going to try and force the Bitcoin framework so it is NOT anonymous. I'm not sure how they could do that, but I imagine there are many ways. It is the job of those who believe in privacy to ensure that platforms like Bitcoin, et al, steadfastly remain anonymous.
Im in on the ETH also.Quote:
Originally Posted by Whiteroom_Guardian
Think thats what they said about gold?Quote:
Originally Posted by Alaskan Rover
Notice a restaurant in DT W2 had a sign up yesterday that read: "We accept Bitcoin"
Hmmm...maybe. But gold is very heavy. So they ended up carrying a bit of paper to represent that gold in daily activity...that worked for a couple centuries, I guess.Quote:
Originally Posted by ICantLogIn
If shit hits the fan, bits of gold coin might be currency? I think if shit REALLY hit the fan, American dollar bills would be as worthless as Brazilian Reals are now. So actually gold might indeed come back to the fore as a trading vehicle.
Or since gold is merely representational and doesn't have REAL value except in certain electronics, maybe in a Water World way, something with actual usability would become the new currency.
I actually find bronze and copper much more beautiful than gold.
I DO find the idea of currency down through the ages absolutely fascinating.....from those huge Polynesian disks with holes in the middle (hard to steal yet still transferable to other households) to Bitcoin and its analogs.
If you want to speculate in crypto, go for it. Just don't pretend its an "investment", and know that the unregulated ICO world is full of scammers and fraud.
Bitcoin clearly has the best brand recognition and because it has no underlying utility may make the most sense as a store of value. For example, the ethereum ecosystem has multiple protocols and use cases which will eventually allow for fundamental analysis of the value of these protocols. Without utility value, Bitcoin is similar to gold as a store of value...as long as people agree that it is a store of value.
I think that the notion that there can and only ever will be 21M bitcoin as the basis for its value is foolish. Sure, its the math. But people write the underlying code, people can change their minds and rewrite the code. And as neckdeep said, there is literally nothing to stop something from replacing it. Maybe a fork of bitcoin itself. Maybe something else. Maybe a better brand name like "JP Morgan cryptocash." I don't know, but I have a hard time buying the notion that scarcity can be enforced in the crypto realm. And if there isn't scarcity, than Bitcoin isn't much different than "fiat" money.
The real potential game changer in this space is the blockchain itself. Figure out how to invest in this and you have something...
Its much moreQuote:
Originally Posted by Alaskan Rover
How the blockchain is changing money and business
I like the blockchain technology, I tried to figure out for a little bit what companies I could invest in that are the leaders in block chain technology, but not sure which ones to choose. They tend to be small volatile (duh).
Who has the best technology, and business plan around selling and implementing block chain technology?
$5000.00.........................
Creeping up on $5200....
Over 7k by years end? 10k by end of first quarter 2018?
Free money? Sure i'll play for a bit.
How about 6k in a few weeks when the 2x fork happens?
Petty exciting rally after being 40+% down in Sept.
What a fucking run these last few days.
ETH and LTC are charging again too.
High fives!!!
I know its fun to watch, and make some $$. Every time Jamie Dimon opens his mouth Bitcoin moves a little higher. I need to grab some Ripple next and soon.
check out my used pm gear lhasa pow's for $199,000+ (from circa 2012)
and freeride systems jackets for low price of $200,000+ (from circa 2012)
hahaha
I had a mt gox account that imploded, guess i lost millions
https://www.tetongravity.com/forums/...hlight=bitcoin
https://www.tetongravity.com/forums/...hlight=bitcoin
from one of those threads:
Quote:
Originally Posted by MiCol
https://en.wikipedia.org/wiki/Mark_Karpelès
maybe some collector item emails too
http://i1131.photobucket.com/albums/...pstgjmdxve.png
Wow that sux.Quote:
Originally Posted by MiCol
This is blatant SPAM and maybe even a scam so don't do it if you are using the money you need for the herp cream RX or whatever. But I lending on Bitconnect and if you would like to check it out please use my referral link.
https://bitconnect.co/?ref=pbrontap
Youtube vids about Bitconnect.
https://www.youtube.com/watch?v=k-qW3lKRD74&t=589s
https://www.youtube.com/watch?v=59QLTvq20f4&t=746s
ATH $6300 last night. Looks like we are in for another ride. Break $7000 on this one and correct back to mid to low 5s.
Seems too early for FOMO.. My wife thinks the amount of stress I get over about $ per hour might not be worth it. Its still fun.Quote:
Originally Posted by Whiteroom_Guardian
This should help things out a bit.
Quote:
CME Group will launch Bitcoin futures, based on the CME CF Bitcoin Reference Rate (BRR), in Q4 2017, building off of the success of the BRR and demand for a regulated trading venue for the digital asset market.