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Thread: Bitcoin....who's gotten into it?
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12-09-2017, 03:10 PM #351
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12-09-2017, 06:54 PM #352
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12-09-2017, 08:46 PM #353
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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12-10-2017, 10:04 AM #354
Just don't hate them because they're beautiful (and rich).
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12-10-2017, 10:07 AM #355
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.
Master of mediocrity.
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12-10-2017, 05:06 PM #356
Lift off.
"I don't pretend to have all the answers, and I think there's something to be said for that" -One For The Road
Brain dead and made of money.
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12-10-2017, 05:34 PM #357
Bitcoin....who's gotten into it?
Reminds me of 2007. So much frenzied fomo and speculative buying. Scary. At least its not insanely leveraged.
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12-10-2017, 06:09 PM #358
Ill take it for a car or rent.
Last edited by Bobby Stainless; 12-10-2017 at 06:31 PM.
"I don't pretend to have all the answers, and I think there's something to be said for that" -One For The Road
Brain dead and made of money.
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12-10-2017, 06:18 PM #359
Article on bitcoin in Wyoming. On a local digital rag Buckrail.
https://buckrail.com/why-dont-i-own-any-bitcoin/amp/Ski Shop - Basement of the Hostel
Do not tell fish stories where the people know you; but particularly, don't tell them where they know the fish.
Mark Twain
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12-10-2017, 06:32 PM #360
There some private schools in manhattan’s already excepting bitcoins as tuition payments.
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12-10-2017, 06:54 PM #361
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12-10-2017, 07:35 PM #362
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12-10-2017, 08:37 PM #363
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.
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12-10-2017, 09:30 PM #364
Almost to 17k.
"I don't pretend to have all the answers, and I think there's something to be said for that" -One For The Road
Brain dead and made of money.
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12-10-2017, 09:47 PM #365
Bitcoin....who's gotten into it?
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.
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12-11-2017, 07:18 AM #366
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12-11-2017, 07:54 AM #367
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.
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12-11-2017, 08:00 AM #368"I don't pretend to have all the answers, and I think there's something to be said for that" -One For The Road
Brain dead and made of money.
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12-11-2017, 08:03 AM #369Banned
- Join Date
- May 2007
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- Sandy, Utah
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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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12-11-2017, 08:05 AM #370Banned
- Join Date
- May 2007
- Location
- Sandy, Utah
- Posts
- 14,410
Says the dude who got in at what $10k....? Lol funneh.
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12-11-2017, 09:33 AM #371
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12-11-2017, 09:33 AM #372
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
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12-11-2017, 09:35 AM #373
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
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12-11-2017, 09:42 AM #374
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12-11-2017, 09:47 AM #375Registered User
- Join Date
- Dec 2011
- Posts
- 290
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.
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