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Bitcoin about to hit $4,000 per. Anyone in on this?
- Thread starter egruntz
- Start date
Robot Pants
Member
Bitcoin will be the death of us all
I was already highly suspicious of it but realizing Russia is deeply involved makes it a nonstarter for me.
https://www.google.com/amp/amp.time...tin-bitcoin-ethereum-russia-china/?source=dam
Overstock has accepted bitcoin for years.
https://www.google.com/amp/amp.time...tin-bitcoin-ethereum-russia-china/?source=dam
Overstock has accepted bitcoin for years.
Lovely Salsa
Banned
You could get 10k bitcoins for 700 bucks in 2010
I wish I had a time machine
I wish I had a time machine
Earthbound64
Banned
I would never make a substantial investment into it. It has been demonstrated that it's possible to completely disable the currency and thus make it worthless for a few hundred thousand US dollars a day. That has to make it the most risky common investment in the world.
All of its value is based on semi-arbitrary things, and completely dependent on a stable world society, economy, etc. There isn't substantial real value backing, and when there is backing it's based on normal currencies. The very people who believe the most in bitcoin are those that believe the least in the things that they need for bitcoin to survive at all (strong world governments and regulation). If disaster happens, gold will be worth something, very very likely the US dollar will be worth something, and bitcoin will be valueless with the slightest societal disruptions.
They say you should invest optimistically, but bitcoin is the most optimistic thing of all.
All of its value is based on semi-arbitrary things, and completely dependent on a stable world society, economy, etc. There isn't substantial real value backing, and when there is backing it's based on normal currencies. The very people who believe the most in bitcoin are those that believe the least in the things that they need for bitcoin to survive at all (strong world governments and regulation). If disaster happens, gold will be worth something, very very likely the US dollar will be worth something, and bitcoin will be valueless with the slightest societal disruptions.
They say you should invest optimistically, but bitcoin is the most optimistic thing of all.
darkazcura
Member
Wanted to buy 100-200 dollars worth of bitcoin at the beginning of 2013, when it was about 15 bucks a coin. Was a poor college student, though. 
Sucks that I didn't really miss the boat because I was doubtful..just missed it because I lacked even a bit of side money at the time. Now it feels too late, but I dunno.
6-10 bitcoin could have paid all my student loans off if I was able to throw together 100-200 bucks back then. =(
Sucks that I didn't really miss the boat because I was doubtful..just missed it because I lacked even a bit of side money at the time. Now it feels too late, but I dunno.6-10 bitcoin could have paid all my student loans off if I was able to throw together 100-200 bucks back then. =(
toxicgonzo
Taxes?! Isn't this the line for Metallica?
How do I short this?
Until most of the news I read about bitcoin and other crypto currencies is about people using it for anything other than making money and how much they're "up", I'll pass. I'll steer clear of a currency that's only ever going to be deflationary and mostly owned by speculative investors
actually bitcoin's value in 2010 got waaay lower than that:
https://www.washingtonpost.com/news...orth-75-million-today/?utm_term=.9cc8f7d2ed88
but yeah, i want a time machine too
UpDownLeftRight
Banned
Debated getting in on this back when it first started getting big, unfortunately I could never make sense of the hell it all works. Wish I'd put more time into trying to work it out but the idea of value in data packets just made no sense to me and honestly still doesn't so I just decided to steer clear of it.
ClosingADoor
Member
Same here. Still don't see it working out long term though.
Ether_Snake
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It could still rise many times over. Assuming it would one day become a currency that was accepted like most other countries, it's value would be far higher than it is now.
It could also tank significantly, at least for some time, since it's not widely used still.
Personally I think the upside is more likely over the long term, but I'm still not buying any.
It could also tank significantly, at least for some time, since it's not widely used still.
Personally I think the upside is more likely over the long term, but I'm still not buying any.
Lucky Seven
Banned
Bitcoin will never catch on. Hand those all to me, they're pointless.
The Hermit
Member
People say it will crash, but the question is why?
ClosingADoor
Member
Same reasons stocks crash or resources become cheaper. People lose trust in it and start selling, leading to lower prices.
I got in BTC at $200 and ETH $7
Sold some BTC close to $3k, but still holding most. Haven't sold any ETH yet.
I still think there is a lot of upside. The whole crypto maket I can see hitting 1 trillion market cap eventually, around 10X from here - currently sitting around 130 billion
Sold some BTC close to $3k, but still holding most. Haven't sold any ETH yet.
I still think there is a lot of upside. The whole crypto maket I can see hitting 1 trillion market cap eventually, around 10X from here - currently sitting around 130 billion
Alcotholic
Banned
How is this going to affect the economy? What does this all mean?
How do you get money out of the system? P2P transactions?
I always wonder how people get their fortunes out if they managed to sit on like 10k bitcoins from back in the days where they were $1-2 each.
I'm going to wager, not at all.
I wonder how monetary policy will play out in the world of crypto-currencies. I'm surprised that Reserve Banks all over the world have not revealed any plans on how they intend to deal with them. Once made public, I imagine their plans will have a massive effect on crypto prices.
SapientWolf
Trucker Sexologist
Sweet, time to buy some Steam games.
Could be anything:
Attack on the currency itself: $300K a day isn't much if you have some reason to do so (knocking out hundreds of millions as a result).
Legal attacks on the currency: any world gov't decides to actively fight against the currency due to distrust / crackdown on 'cyber crime'. (This would affect corporations which accept the currency)
More severe attacks on banks or otherwise corruption causing cash-outs to be more difficult.
Arbitrary de-investments (affects any market, but one that has no regulation is more vulnerable).
Societal disruptions (real world instability could easily permanently crush the value in a way that's not possible with other currency or investment).
D
Deleted member 10571
Unconfirmed Member
I wish. Anyone gifting me a Bitcoin here?
I mean, it seems clear to me that Bitcoin is just a speculative bubble at this point, but can you really predict exactly when it's going to crash?
Because people are buying bitcoin because they think the value of bitcoin will rise. The amount of bitcoin actually being used as currency relative to the amount of people holding onto it is so small. Nobody wants to spend bitcoin because they think the value of bitcoin will continue to rise. This is so textbook of a bubble.
SodiumBenzoate
Member
So people have finally given up on Bitcoin as a currency, right? It's clearly an asset.
This is why I don't invest in it. The minute crypto currencies start to disrupt any large govt they will get nuked from orbit. No thanks.
Yankee Ruin X
Member
I got into Bitcoin and altcoins in May when it hit $2000 and have been kicking myself for not doing so sooner, made a lot of money so far from it in the last 2 months.
No, they have dedicated exchanges for this. Few examples are Coinbase/GDAX and Gemini. Similar to a stock exchange where you can place limit orders, etc.
If someone had 10K Bitcoins, I think it would not be wise to dump all that once, but it would not be hard to sell all that over a period of time - like a week or so, with the current liquidity.
Soldiussnaku
Member
Getting in in the eth game whilst they are cheap. Even if I sit on them for a year or two, the eventuality of them gaining incredible value or enough to set me for life is high.
I know the risks which is why the money I put in would go to frivolous expenses anyway.
I know the risks which is why the money I put in would go to frivolous expenses anyway.
How much did you invest? Where do you buy them?
Various Artists
Banned
Me too. I remember when it was that cheap. I thought "what a dumb concept" and it was difficult to understand what was going on and it seemed to only be used on the dark web. I sure do wish I bought about $100 worth then though. Profound sadness.
Yeah it would especially feel bad if you for example traded 10k bitcoins for a pizza many years ago
Rktk
Member
You can buy fractions, you buy them from exchanges.
Patrick Young
Member
I don't have bitcoin right now, but I've got nearly $1000 of Ripple that I'd like for the price to bounce.