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Investing in Bitcoin?
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Brasky
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Default Investing in Bitcoin? - 05-18-2017, 20:20 | posts: 2,001 | Location: BBQ Capital of the World

Well, I've got a few friends that are looking at investing in Bitcoin and I was wondering if anyone here had some experience using them as a currency or even what service you would use or recommend. I have absolutely no idea how it works but now there are several competing currencies as well. Thoughts would be appreciated.
   
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sdamaged99
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Default 05-18-2017, 22:03 | posts: 2,001 | Location: Isle of Man

I can't see how its profitable now at $1500 plus per coin

Ethereum is probably a better idea imo.

Surely its about how much you can afford to purchase

How many Bitcoins can your friend afford at the above price, compared to around $90 per eth
   
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Default 05-19-2017, 00:11 | posts: 2,814 | Location: Ibaraki, Japan

Eh....

Invest in something you can trust and support.
Bitcoin is unstable like elementary school girl. Might as well lose it value due to security breach, exploit or whatever.
If you really into bitcoin, consider investing into hardware to mine it. Might be able to switch to other cryptcurrency and mine it, if bitcoin not appealing anymore.


   
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Default 05-19-2017, 01:00 | posts: 145

Its at 1500 per coin? Holly sht cant believe. I remember the hype train when it was at 800. Everyone knew its the summit and only hypers who want to sell it tried to sound like its going to go up.

So.. how in the hell did that risen to 1500?? Anyone has any ideas??
   
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Default 05-19-2017, 01:57 | posts: 111

jesus... i really dropped the ball on bitcoin...
   
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Default 05-19-2017, 04:29 | posts: 2,814 | Location: Ibaraki, Japan

Quote:
Originally Posted by No1True View Post
Its at 1500 per coin? Holly sht cant believe. I remember the hype train when it was at 800. Everyone knew its the summit and only hypers who want to sell it tried to sound like its going to go up.

So.. how in the hell did that risen to 1500?? Anyone has any ideas??
I don't know. Shady business, drug dealers, killers... they all love their anonymity. Cryptocurrency does damn good job at covering their asses with payments.
Guess how WannaCrypt "hackers" want to get paid?

Demand and Supply.


   
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Brasky
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Default 05-19-2017, 12:21 | posts: 2,001 | Location: BBQ Capital of the World

Quote:
Originally Posted by sdamaged99 View Post
I can't see how its profitable now at $1500 plus per coin

Ethereum is probably a better idea imo.

Surely its about how much you can afford to purchase

How many Bitcoins can your friend afford at the above price, compared to around $90 per eth
He saw a presentation or something where it was "projected" to hit 500,000$ a coin at some point. I personally don't think that would be possible, but he wants to buy 10 or 20 of them. I was also looking at kraken and they have several other cryptocurrencies that seem more reasonable and worth the speculation.
   
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Default 05-19-2017, 13:09 | posts: 2,001 | Location: Isle of Man

500k per coin?

maybe in 2050!
   
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Brasky
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Default 05-19-2017, 14:58 | posts: 2,001 | Location: BBQ Capital of the World

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Originally Posted by sdamaged99 View Post
500k per coin?

maybe in 2050!
I'll still be around in 30 years! (fingers crossed) So that doesn't sound that bad, but i'm still skeptical. I guess it would be worth the gamble.
   
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Default 05-19-2017, 15:32 | posts: 13,103 | Location: Scotland

Too little too late haha. Like everyone you should have invested years ago
   
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Default 05-19-2017, 16:09 | posts: 1,949 | Location: AZ

i invested when it was 500 coin
   
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Default 05-19-2017, 17:54 | posts: 2,001 | Location: BBQ Capital of the World

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Originally Posted by scatman839 View Post
Too little too late haha. Like everyone you should have invested years ago
https://www.youtube.com/watch?v=4RkSrF1HFY0
   
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Default 05-25-2017, 19:09 | posts: 5,747

Quote:
Originally Posted by sdamaged99 View Post
I can't see how its profitable now at $1500 plus per coin

Ethereum is probably a better idea imo.
Quote:
Originally Posted by scatman839 View Post
Too little too late haha. Like everyone you should have invested years ago
yes haha

it has gone over $2400
   
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Default 05-25-2017, 19:29 | posts: 5,516 | Location: EU, CZ, Brno

Quote:
Originally Posted by Noisiv View Post
yes haha

it has gone over $2400
There are estimates that it may get up to $10k in value. While that's potentially 4x investment, there is change of crash to absolute 0 too.

At rate it is climbing now, I would not touch it. I rather have no gain than to let entire investment burn.
   
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Default 05-25-2017, 19:37 | posts: 4,237 | Location: Beech Island SC,USA

Any y'all remember the guy that threw out an old hard drive worth millions of bitcoins?
   
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Noisiv
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Default 05-25-2017, 19:39 | posts: 5,747

Quote:
Originally Posted by Fox2232 View Post
There are estimates that it may get up to $10k in value. While that's potentially 4x investment, there is change of crash to absolute 0 too.

At rate it is climbing now, I would not touch it. I rather have no gain than to let entire investment burn.
Bitcoin is still the ONLY go-to crypto currency which has managed to brake the confines of crypto-world.

10k has always been my long term target. Which is just my uneducated guess based on BTCs crypto-monopoly status and its total market cap.

I have no idea how long it will take, but I have very little doubts it will get to those levels eventually.
   
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Noisiv
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Default 05-25-2017, 19:42 | posts: 5,747

Quote:
Originally Posted by airbud7 View Post
Any y'all remember the guy that threw out an old hard drive worth millions of bitcoins?
mmm... something similar happened to me.
something like 30% of total BTC mined is missing, if I remember correctly
   
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Default 05-25-2017, 19:47 | posts: 4,237 | Location: Beech Island SC,USA

Quote:
Originally Posted by Noisiv View Post
mmm... something similar happened to me.
something like 30% of total BTC mined is missing, if I remember correctly
Oh No!...sure hope you find it in a backup somewhere...
   
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Noisiv
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Default 05-25-2017, 19:52 | posts: 5,747

Quote:
Originally Posted by airbud7 View Post
Oh No!...sure hope you find it in a backup somewhere...
LOL no its' gone forever. Something like 40 BTC. Mined in the very early stage.
I simply forgot about the whole BTC thing, and just formatted the whole disk

   
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airbud7
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Default 05-25-2017, 20:01 | posts: 4,237 | Location: Beech Island SC,USA

Quote:
Originally Posted by Noisiv View Post
LOL no its' gone forever. Something like 40 BTC. Mined in the very early stage.
I simply forgot about the whole BTC thing, and just formatted the whole disk

Found it for you/ Lol...>https://bitcointalk.org/index.php?topic=1797631.0
   
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Default 05-25-2017, 20:29 | posts: 13,103 | Location: Scotland

So i'm well aware of bitcoin rising to a crazy price per coin, but what's happened in the last month to near double the worth?

https://exchangerate.guru/btc/usd/40/


Last edited by scatman839; 05-25-2017 at 20:34.
   
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Noisiv
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Default 05-25-2017, 20:50 | posts: 5,747

Quote:
Originally Posted by scatman839 View Post
So i'm well aware of bitcoin rising to a crazy price per coin, but what's happened in the last month to near double the worth?
many many many reasons. China, India, Japan, Russia...

Then there are less obvious reasons, like self inflating pump. Take this thread. The higher it goes, the more mainstream coverage it gets.
The more coverage it gets, the higher it goes, and the circle reapeats itself.
   
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scatman839
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Default 05-25-2017, 20:53 | posts: 13,103 | Location: Scotland

So that's an semi-artificial bubble then.

Actually you know what, wannacrypt, that did it, at least partially.

But if it's being generated by scarcity (real, there's a limited amount and many are lost) and popularity (artificial) that'd mean at some point it'll pop and crash.

oh, haha, it's not just me seeing this

https://www.google.co.uk/?gws_rd=ssl#q=bitcoin+bubble

https://www.reddit.com/r/Bitcoin/

Last edited by scatman839; 05-25-2017 at 20:57.
   
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Noisiv
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Default 05-25-2017, 20:58 | posts: 5,747

Of course wannacrypt played the part. No doubt.

It hit $2700 today. I'd expect another crash. And it's still just crypto, not full mainstream. It had several crashes in its history, volatility is to be expected. But the demand is real, so the value is real.

IMHO the only reason to be afraid of these crashes is if you're a short term trader.
   
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Default 05-25-2017, 21:05 | posts: 4,237 | Location: Beech Island SC,USA

Quote:
Originally Posted by Noisiv View Post
many many many reasons. China, India, Japan, Russia...

Then there are less obvious reasons, like self inflating pump. Take this thread. The higher it goes, the more mainstream coverage it gets.
The more coverage it gets, the higher it goes, and the circle reapeats itself.
Hey^ So its much like a president/company ceo making a deal and stocks go up?....Cool.
   
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