Bitcoin....who's gotten into it?

**Whiteroom_Guardian** · 12-18-2017, 10:19 AM

As some of you clearly realize this is a similar game but with different players.

If you want to compare this to the housing bubble you have to note two major differences:

- The vast majority of the wealth is held by individuals now. Namely a bunch of nerds and og holders who were wise enough to keep those coins they got for pennies.

Every other time in the stock market and the housing bubble the actual money was held (controlled) by a handful of big banks and whales.

- Alot of the original hodlers (I'm guessing people in their 20s to 40s) saw their parents generation get worked over through the insidious debt system which our current economy is built on. This new generation cautiously sees this as a grand experiment and aren't just blindly throwing money they don't have into buying bitcoin.

Sure some idiots are doing this, but to compare it to other bubbles where everyone and their mom willingly signed up for crazy debt so that a few whales could get rich is being ignorant of certain important differences.

This is revolutionary shit here folks. Get woke.

**Mazderati** · 12-18-2017, 10:21 AM

Originally Posted by wakefield

People have this idea that the only way to invest in crypto is to go all in. Sure, that's probably a lot of teenagers and the anarchic crowd. But if you're investing sensibly...

Speculating or gambling. No one buying crypto currencies is investing

**Mazderati** · 12-18-2017, 10:41 AM

Originally Posted by Whiteroom_Guardian

Sure some idiots are doing this, but to compare it to other bubbles where everyone and their mom willingly signed up for crazy debt so that a few whales could get rich is being ignorant of certain important differences.

People are buying on credit. You don't see the parallel?

https://www.engadget.com/2017/12/12/...use-investors/

**Whiteroom_Guardian** · 12-18-2017, 10:53 AM

Originally Posted by Mazderati

People are buying on credit. You don't see the parallel?

https://www.engadget.com/2017/12/12/...use-investors/

Yes, there are some people doing this, but it's a much much smaller percentage than bubbles in the past where basically everyone was intentionally going into impossible debt and actually trusting a small group of whales/banks to stand behind their loans. Loans made on money that never existed. How long is it going to take for people to realize that the banks/govt gives ZERO fucks about us regular folk? They want us to be in debt forever because it's the only way they make money off of us and keep us under their control.

The masses actually controlling their own wealth is not in their best interest.

We're in a major transitional phase. This is gonna take another 10-30 years at least, but people are getting woke and the big boys are starting to freak because fiat finally has a real contender.

**digitaldeath** · 12-18-2017, 10:57 AM

i have 20k doge coins that i paid zero for

valued at $122

make me an offer and ride it to the moon

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**Mazderati** · 12-18-2017, 11:07 AM

Originally Posted by Whiteroom_Guardian

Yes, there are some people doing this, but it's a much much smaller percentage than bubbles in the past where basically everyone was intentionally going into impossible debt and actually trusting a small group of whales/banks to stand behind their loans. Loans made on money that never existed. How long is it going to take for people to realize that the banks/govt gives ZERO fucks about us regular folk? They want us to be in debt forever because it's the only way they make money off of us and keep us under their control.

The masses actually controlling their own wealth is not in their best interest.

We're in a major transitional phase. This is gonna take another 10-30 years at least, but people are getting woke and the big boys are starting to freak because fiat finally has a real contender.

Good luck.

**Benny Profane** · 12-18-2017, 11:14 AM

Originally Posted by Mazderati

People are buying on credit. You don't see the parallel?

https://www.engadget.com/2017/12/12/...use-investors/

Furgetabout the Chinese.

What, you guys think this is just savvy and hip millenials doing something new and cool, and this is different than tulips or the housing crash? Good luck with that.

**Benny Profane** · 12-18-2017, 11:18 AM

Originally Posted by Whiteroom_Guardian

Yes, there are some people doing this, but it's a much much smaller percentage than bubbles in the past where basically everyone was intentionally going into impossible debt and actually trusting a small group of whales/banks to stand behind their loans. Loans made on money that never existed. How long is it going to take for people to realize that the banks/govt gives ZERO fucks about us regular folk? They want us to be in debt forever because it's the only way they make money off of us and keep us under their control.

The masses actually controlling their own wealth is not in their best interest.

We're in a major transitional phase. This is gonna take another 10-30 years at least, but people are getting woke and the big boys are starting to freak because fiat finally has a real contender.

Funny thing, with this tax bill, the Dow will probably break 30,000. Sad thing for those with no money, but, if you have a little, easiest money you'll make in your life, maybe. So, why not just put it all in an index fund and relax?

**digitaldeath** · 12-18-2017, 11:28 AM

Originally Posted by Benny Profane

Funny thing, with this tax bill, the Dow will probably break 30,000. Sad thing for those with no money, but, if you have a little, easiest money you'll make in your life, maybe. So, why not just put it all in an index fund and relax?

well

what fund

**Benny Profane** · 12-18-2017, 11:30 AM

Anything that tracks the Dow or S&P. Do it through Vanguard so it's low cost. Easy.

**Bobby Stainless** · 12-18-2017, 11:39 AM

Originally Posted by mud

Attachment 219127

Fake. Was headed to local Chuck E Cheese.

**mud** · 12-18-2017, 11:39 AM

Benny trades in blue jean panties.
Locally sourced.

**whitekingsalmon** · 12-18-2017, 10:32 PM

ETH and LTC have been running hard all afternoon and tonight..... to the fricken moon

**shroom** · 12-19-2017, 12:12 AM

bring back the tags

and the rainbow dicks

**ICantLogIn** · 12-19-2017, 06:39 AM

The more money I have in the harder it is to make trades. Ugggh but LTC, FKNA.

**Whiteroom_Guardian** · 12-19-2017, 07:51 AM

My EOS has gone from 2.00 to 10.79 in less than a month. Thrusters engaged.

**cascadianwarrior** · 12-19-2017, 10:02 AM

Crypto-jong here, I've been following things for a bit and pulled the trigger last month picking up a small amount of BTC and LTC, enough to play with and to want more. Started at Coinbase now on GDAX.

My question is about alt coins; what exchange are any of you using? I like the look of Bitfinex and Bittrex but the first is requiring an invitation code and the second is holding off of the floodgates and upgrading before allowing new users.

Also, looking at coinmarketcap, I feel like I'm missing something. Of course there is a ton of volatility across all crypto but looking at the gains on some of the lesser-know alt coins why wouldn't you put say $500 on what looks to be a solid performer and let it ride for a few weeks, hoping to catch 200-300% and cash out (in a perfect world scenario)? I guess it would be similar to day trading one of the bigger names but if you're just using a little slush fund $$ it seems like the gains could be hudge. Keep hodling it or bounce around other alts, use gains to buy more LTC and BTC, essentially using a smaller buy in on alt for short term to produce the $$ needed to buy in to one of the more recognized coins.

School me please

**wakefield** · 12-19-2017, 10:14 AM

Originally Posted by cascadianwarrior

Crypto-jong here, I've been following things for a bit and pulled the trigger last month picking up a small amount of BTC and LTC, enough to play with and to want more. Started at Coinbase now on GDAX.

My question is about alt coins; what exchange are any of you using? I like the look of Bitfinex and Bittrex but the first is requiring an invitation code and the second is holding off of the floodgates and upgrading before allowing new users.

Also, looking at coinmarketcap, I feel like I'm missing something. Of course there is a ton of volatility across all crypto but looking at the gains on some of the lesser-know alt coins why wouldn't you put say $500 on what looks to be a solid performer and let it ride for a few weeks, hoping to catch 200-300% and cash out (in a perfect world scenario)? I guess it would be similar to day trading one of the bigger names but if you're just using a little slush fund $$ it seems like the gains could be hudge. Keep hodling it or bounce around other alts, use gains to buy more LTC and BTC, essentially using a smaller buy in on alt for short term to produce the $$ needed to buy in to one of the more recognized coins.

School me please

I use Bittrex for alts. Didn't know that they're holding off on new accounts—that's a bummer, but it's better than having the exchange go down when prices start to swing (which'll probably happen anyways).

If you're just looking at coinmarketcap in the last week, well, everything's been green. I think a lot of people do what you describe, which is to put money into alts until they swing up, then take the profits back to one of the bigger coins. This is also why people trade pairs between coins rather than back into USD.

e.g. if you want to trade Cardano, you'd trade the BTC-ADA pair until the ratio of ADA to BTC increases, then trade it back into BTC. If you want to get it out into USD, you'd then sell the BTC.

Generally what happens on a Bitcoin upswing is that all alts crash (everyone heads to BTC to catch it). And if Bitcoin stays steady or starts to decrease or crash, the whole market crashes or alts can increase.

I don't trade like that, mostly because I'm on the up-and-up with my taxes and I think the short-term capital gains tax makes it a lot more difficult to come out ahead.

I hold a handful of coins and dollar-cost-average.

**Bobby Stainless** · 12-19-2017, 10:45 AM

Originally Posted by wakefield

I think the short-term capital gains tax makes it a lot more difficult to come out ahead.

This

**skaredshtles** · 12-19-2017, 10:46 AM

Originally Posted by cascadianwarrior

Crypto-jong here, I've been following things for a bit and pulled the trigger last month picking up a small amount of BTC and LTC, enough to play with and to want more. Started at Coinbase now on GDAX.

**4matic** · 12-19-2017, 10:52 AM

Originally Posted by cascadianwarrior

hoping to catch 200-300% and cash out (in a perfect world scenario)

It's a zero sum game pal. Somebody wins-somebody loses. Money isn't made or lost it's simply transferred from one perception to another.

In our current world the 30 year risk free rate is 3%.

**Captain Awesome** · 12-19-2017, 10:54 AM

Originally Posted by cascadianwarrior

My question is about alt coins; what exchange are any of you using? I like the look of Bitfinex and Bittrex but the first is requiring an invitation code and the second is holding off of the floodgates and upgrading before allowing new users.

I use Bittrex for the little bit of alt-coin dabbling I do, but you should know that Bitfinex won't allow US residents to register any more, and are requiring US residents to get off their platform entirely. I've got a problem, in that I've got about $150 over there (like I said - dabbling), which isn't enough to conduct any transactions, so it's stuck. I originally had more money there in BTC, but moved it over to Gemini, leaving only a little behind at Bitfinex in a few low-value alt-coins. Now, I can't get the money out, and don't want to just walk away from it.