Investing in Bitcoin?

Discussion in 'The Guru's Pub' started by Brasky, May 18, 2017.

  1. scatman839

    scatman839 Ancient Guru

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  2. Noisiv

    Noisiv Ancient Guru

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    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.
     
  3. scatman839

    scatman839 Ancient Guru

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  4. Noisiv

    Noisiv Ancient Guru

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    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.
     

  5. airbud7

    airbud7 Ancient Guru

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    Hey^ So its much like a president/company ceo making a deal and stocks go up?....Cool.
     
  6. scatman839

    scatman839 Ancient Guru

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    Hmm, not quite insider trading because no one person controls it, the original creator is unknown and never been found. So they are unable to really influence it, though they are estimated to be unbelievably rich by now (~2.5 billion $. 1 million bitcoins. ~800th richest person in the world).

    Besides, it was designed to be decentralised.
     
    Last edited: May 25, 2017
  7. stereoman

    stereoman Master Guru

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    I had over 30 bitcoins in my wallet at one point all self mined, really gutted I didn't hold onto them would have netted me 60k, currently searching through my old hard disks for any left over.
     
  8. Elder III

    Elder III Ancient Guru

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    I sold 72 Bitcoin for $12 each about 5 years ago, I probably sold 40-50 at higher prices prior to that. I didn't get back into cryptomining until the start of 2017, but I do think every now and again what those ~115 Bitcoin would be worth right now. :infinity:
     

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