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

**4matic** · 12-09-2017, 03:10 PM

Originally Posted by Bobby Stainless

Fun story. I just got paid out on a tech start up that I invested in 6-7 years ago. I made 35k on my 50k. 70% ROI.

That’s 8% annually. SP500 has done better in that timeframe with better liquidity.

**Bobby Stainless** · 12-09-2017, 06:54 PM

Originally Posted by 4matic

That’s 8% annually. SP500 has done better in that timeframe with better liquidity.

Im happy I got my investment back and didn't lose anything.

**Kinnikinnick** · 12-09-2017, 08:46 PM

So bullshitcoin is great for those hat hold it as it goes up but how could something like that that goes up and up in value make for a good currency? Yeah if it does that it wouldn’t be devalued by inflation but the opposite problem for those wishing to transact in would cause just as much pain. How could you set prices in BTC? You’d have to update it constantly and always downwards ( was .0000007 BTC yesterday but today its .0000006 BTC). A good currency is stable . You don’t want Zimbabwean dollars or Argentinian Pesos because it will be devalued tomorrow and you’ll lose a big part of what you gained. If BTC goes up and up the opposite would be true, you can’t afford to spend it because you’ll lose great value.

Not a solid base for a currency.

One of the articles out there is saying that the market is basically cornered by the Winklevosses and the Miners and big early adopters. They will keep holding and the market can only go up and up as the supply is captured by the vested interests. Add to that that despite its claim as a currency, people don’t really spend it . The retail peeps that have bought it did so as a novelty, a pig in a poke, or speculatively. Not a currency, only a speculative investment.

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**huckbucket** · 12-10-2017, 10:04 AM

Just don't hate them because they're beautiful (and rich).

**swissiphic** · 12-10-2017, 10:07 AM

Soooo, for the techy peeps that are holding BTC....any guesses as to the listing of btc on the future's market is gonna do for price in short, med, long term respectively? Noticed a bump in btc this a.m. ... anticipating further action until the listing at 5pm, CT.

**Bobby Stainless** · 12-10-2017, 05:06 PM

Lift off.

**Lindahl** · 12-10-2017, 05:34 PM

Reminds me of 2007. So much frenzied fomo and speculative buying. Scary. At least its not insanely leveraged.

**Bobby Stainless** · 12-10-2017, 06:09 PM

Ill take it for a car or rent.

**skiing-in-jackson** · 12-10-2017, 06:18 PM

Article on bitcoin in Wyoming. On a local digital rag Buckrail.

https://buckrail.com/why-dont-i-own-any-bitcoin/amp/

**nutmegchoi** · 12-10-2017, 06:32 PM

There some private schools in manhattan’s already excepting bitcoins as tuition payments.

**Bobby Stainless** · 12-10-2017, 06:54 PM

Originally Posted by nutmegchoi

There some private schools in manhattan’s already excepting bitcoins as tuition payments.

I bought some t-shirts from 6 dollar shirts today and they accept it.

It's easy to get rid of and transfer.

**Ted Striker** · 12-10-2017, 07:35 PM

Originally Posted by nutmegchoi

There some private schools in manhattan’s already excepting bitcoins as tuition payments.

There's a new filter on craigslist as well: "cryptocurrency ok"

**4matic** · 12-10-2017, 08:37 PM

Originally Posted by swissiphic

Soooo, for the techy peeps that are holding BTC....any guesses as to the listing of btc on the future's market is gonna do for price in short, med, long term respectively? Noticed a bump in btc this a.m. ... anticipating further action until the listing at 5pm, CT.

CBOE has never had a successful futures contract that I recall. A lot of new contracts at all the exchanges fail to get traction. It could be that places like Coinbase retain the volume. Moreover we need to wait for the CME contract to really test viability.

Exchange closure on Saturday is a big problem. Although. I recall the early days of sovereign currency trading and weekend gaps would be huge.

Just to early to make hide not hair from it.

**Bobby Stainless** · 12-10-2017, 09:30 PM

Almost to 17k.

**nutmegchoi** · 12-10-2017, 09:47 PM

Had lunch with couple friends who are financial advisors at E&Y.
They were talking about this guy from 5 years ago who everybody thought was "crazy" because he spent all his bonuses (50K and up) each year to buy back then $4 per bitcoin.

**Bobby Stainless** · 12-11-2017, 07:18 AM

Originally Posted by nutmegchoi

Had lunch with couple friends who are financial advisors at E&Y.
They were talking about this guy from 5 years ago who everybody thought was "crazy" because he spent all his bonuses (50K and up) each year to buy back then $4 per bitcoin.

He's worth a couple hundred mill now.

**Whiteroom_Guardian** · 12-11-2017, 07:54 AM

Originally Posted by nutmegchoi

Had lunch with couple friends who are financial advisors at E&Y.
They were talking about this guy from 5 years ago who everybody thought was "crazy" because he spent all his bonuses (50K and up) each year to buy back then $4 per bitcoin.

Yup. Pretty amazing foresight from that guy. Just like my friend (who know makes a living as a crypto advisor). When he started buying at $30 people thought he was crazy. In the last 18 months he has had old friends etc wanting to get on board, but it was still mostly "weirdos" and young finance guys (the old pot belly bankers were still laughing at this point). Now he gets 20 calls and emails a day from old elementary school friends, random second cousins, etc.

My family thought I was crazy when as late as $1500 I was telling them to all start buying bitcoin. Did they listen? No. Have they all called me in the last week? Yes.

**Bobby Stainless** · 12-11-2017, 08:00 AM

**Skidog** · 12-11-2017, 08:03 AM

Best cash out now. When n Korea send the nukes and the emp knocks out all the computer/electronics you'll have exactly zero if ya dont.

That's the thing with investments...on paper you're worth a lot, but it's worth exactly nothing til it's hard $$ in your pocket.

Really what happens in a full on computer shutdown? Asking friends for a loan?

Glad for all you riding the wave, hope in the end it all actually works out as you expect.

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**Skidog** · 12-11-2017, 08:05 AM

Originally Posted by Bobby Stainless

Says the dude who got in at what $10k....? Lol funneh.

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**skaredshtles** · 12-11-2017, 09:33 AM

**DBdude** · 12-11-2017, 09:33 AM

i just heard on MarketPlace Tech on NPR that bitcoin mining uses .1% of the electricity generated globally

that number has to be bullshit, but it shows how energy intensive bitcoin mining is

**DBdude** · 12-11-2017, 09:35 AM

i remember this from my time in seattle when Amazon was sky rocketing in 1998 - 1999. It was crazy. It also crashed at least once

**Tippster** · 12-11-2017, 09:42 AM

**papapoopski** · 12-11-2017, 09:47 AM

I threw in some money a month or so ago just to see what happens, how it transfers, fees associated, ease of withdrawals etc. Wish I threw in more money after seeing this past month go totally apeshit. Hindsight and all that.

A friend of mine threw in about 50k a year or so ago. I don't think he has to work anymore.

Anyone have a favorite source for daily reports/news etc? I'm new to this whole thing.