Aztechnology
Member
Currency manipulation, really nothing else.
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Bitcoin about to hit $4,000 per. Anyone in on this?
- Thread starter egruntz
- Start date
Currency manipulation, really nothing else.
DonMigs85
Member
I put in like $300 into various altcoins a few months ago, it'll be a nice surprise like the lottery if it goes somewhere.
Kiraly
Member
It has proven to be an excellent store of value.
I would say it's 2 things.
One is when the mainstream press writes about Bitcoin, which often triggers a rise in interest from less sophisticated investors. That happened again recently with all the talk about the Bitcoin Cash split.
The other is fear of global political instability. This month's huge rally was triggered by the rising tensions over North Korea. Bitcoin is viewed as a sanctuary investment, like gold, and people flee to such investments in times of uncertainty.
At the end of the day, cryptocurrency is mainly being used as an investment racket rather than actual currency.
You just need to not be the last one buying in or the last one trying to get a payout (like when regulations hit or the exchanges get nabbed)
That's also why cryptocurrency is often shilled pretty hard by people who bought into it, creating artificial spikes which they use to sell with a profit.
Fried Food
Banned
*thinks back to all the bitcoin I blew on the dark web*
n00bsauce87
Member
My wife just said I should invest two days ago. Even though they are expensive as duck, still could have made quick bucks. Oh well, what could have been...
Kiraly
Member
Explain?
You can buy as low as a one hundred millionth of a single bitcoin (0.00000001 BTC). You don't have to buy one coin in whole. Admittedly the return on investment will be small with smaller amounts nowadays, but you never know how high this thing will reach.
Anyone selling a significant amount of bitcoin to convert it to actual usable cash will trigger everyone else selling and crash it.
As it goes higher and higher the probability of something pulling said trigger just goes up.
If you actually want a future, invest in an IRA. Currency trading is the worst thing you can do.
oxrock
Gravity is a myth, the Earth SUCKS!
I used mine bitcoins around 10 or so years ago but for the life of me I have no idea what ever happened to them. I know I've never spent them so the info is probably lost on some HDD i'll never see again. So new like this always triggers self loathing.
D
Deleted member 13876
Unconfirmed Member
wrong topic
Lovely Salsa
Banned
www.washingtonpost.com/amphtml/news...of-bitcoin-in-2010-is-worth-75-million-today/
"According to this report from CNBC, the price of a single bitcoin has recently soared to $2,200 from just $0.003 only seven years ago. We know this because on Monday its fans celebrated the anniversary of Bitcoin Pizza Day, when Laszlo Hanyecz, a programmer, spent 10,000 bitcoin for two Papa Johns pizzas. "
So 40 million dollars for 2 pizzas, nice
"According to this report from CNBC, the price of a single bitcoin has recently soared to $2,200 from just $0.003 only seven years ago. We know this because on Monday its fans celebrated the anniversary of Bitcoin Pizza Day, when Laszlo Hanyecz, a programmer, spent 10,000 bitcoin for two Papa Johns pizzas. "
So 40 million dollars for 2 pizzas, nice
If I was national bitcoin pizza day man, I don't think I'd ever be able to shake that feel.
cubicle47b
Member
I don't know. It depends on what he did afterward. If he completely cashed out to buy 2 pizzas, then yeah, that would haunt someone. If he still had a lot of bitcoin left or bought more the next day and ended up making a lot of money then he's probably fine.
Cryptocurrency is extremely volatile so it's mentally taxing to own / trade it, especially when you first start. You have to learn to control your emotions very quickly. I started with ~1% of my net worth, immediately made money, and was still stressed out because I could have made a lot more (it was June 9th, Ethereum went from 279 to 351, I sold at 310 after making 19% in 2-3 days because "this is crazy", and then spent the rest of the day feeling like shit). When major corrections happen people start posting suicide hotline numbers for good reason.
Yankee Ruin X
Member
I put my BTC into tether and alt coins now. There has to be a correction soon and if it stabilises at $4k then Altcoins are about to skyrocket as they have all gone down pretty much due to everyone getting out of positions to ride the BTC train. Got a hefty chunk in Waves at the minute as that seems massively undervalued to me in comparison to something like Neo and ETH so I'm hoping for a x2 on it soon as long as the marketcap doesn't fallout when correction happens.
I'm thinking about buying around $1000 total in bitcoin and various alt coins, immediately declare it a total loss in my mind, and wait 5 years and see what happens. To the moon I say!
I just tried to purchase my first $50 worth but Coinbase's way of verifying new accounts debit cards (2 temporary verification charges plus the purchase order) triggered my bank cancelling the charges and calling asking if it was really me using using my card. Now I have to wait 12 hours and try again.
I just tried to purchase my first $50 worth but Coinbase's way of verifying new accounts debit cards (2 temporary verification charges plus the purchase order) triggered my bank cancelling the charges and calling asking if it was really me using using my card. Now I have to wait 12 hours and try again.
Just ask yourself if this is the highest it will EVER go. 99% chance it will go higher, so whatever you put in... That money will grow
Yankee Ruin X
Member
Just think in 10 years time when you look back and say "wow can you remember when Bitcoin was only $4k and now it's $50k"
Haha bad example I know. I only jumped into this cryptogame 2 months ago and I've made some very hefty gains in that time. Alt coins have not been keeping up with BTC's growth and many are very cheap right now as people are dumping them to get onboard the BTC train so now is as good a time as any to buy Alts.
Just curious, how much was your initial investment?
GuitarGuruu
Member
I just don't really get how this is worth 4 grand a piece, who is buying these?
Yankee Ruin X
Member
Initially I started with just $200 to test the waters and turned that into over $1k very quickly on some Alts that rocketed so I put in a lot more after that.
Can't stress this enough though, do your own research and don't put anything in you can't afford to lose as at the end of the day anything can happen in this game. On Saturday morning I woke up and one of my long term hold coins (Lunyr) had gone up 250% overnight so that was great after a month of holding it and it not really doing much.
Are there any resources you'd recommend for something just starting to get into this? I may have a few thousand I can play around with but obviously wouldn't want to plunk that into something I don't know much about.
Some people view Bitcoin as a very good store of value, given the security and very low inflation rate. Commodities having those qualities are somewhat rare, and Bitcoin is easier to buy, move around, and hide than gold, houses, art, or rare cars, for example, so as demand increases for the small worldwide supply available, the price goes up. As more people start to view Bitcoin like that, its price could continue to rise at a pretty good rate, provided there aren't any more major security incidents.
Nikodemos
Member
From the little I understand, it's because bitcoin is a deflationary currency. There's a cap to the total number of bitcoins that can exist in the world, and the closer you get to the cap the harder it is to get one. Thus the supply is relatively stable. Then you have people who have lost, destroyed or misplaced their bitcoins, further constraining supply.
Thus bitcoins slowly appreciate over time solely because they exist, making them an attractive investment target.
Of course, problem is right now there are entities (both individuals and statal/nonstatal) who own hundreds of thousands of bitcoins, and they manipulate/distort the market.
Yankee Ruin X
Member
I just read and research everything. Bitcointalk forum see what people are talking about, check the announcement threads, join any coins you are interested in twitter feeds, join their slacks too so you can keep tabs on development.
I stay away from Youtubers now as they rarely provide any information of value, it's hard to take them seriously when they are saying they are making thousands on their trades yet then ask for donations so they can buy a new camera for their videos 😂
I don't follow charts as they also don't seems to work well in this game, for me anyway. Information and news are the best things to give indicators on movements. This entire industry is pretty much built on speculation so you have to use that to your advantage. Buy the rumour, sell the news. I find coins that have small marketcaps that have something coming out soon to generate hype to be the most lucrative investments. Something with a marketcap of $15-20 million can easily go to $100 million if it's a good project.
Also don't be greedy, I learnt that very early on. It's easy to see these huge gains and think I'll hold out for more only to see the price crash and you lose out on a big chunk of profit. Also be patient, it's easy to get caught up in this and be checking your portfolio every 5 mins to see if anything has moved. If it's a good project and you got in low you will get your profits so just hold on, don't have weak hands 😂
Earthbound64
Banned
whatyearisit.gif
rockinreelin
Member
Imma go buy me $10,000 worth of discontinued comforters and $4000 worth of fossil watches from overstock with my bitcoin yo.
Earthbound64
Banned
Or a new computer on NewEgg...
DonMigs85
Member
Maybe DigiByte lol
cpp_is_king
Member
Nice! Up 10% from when I bought yesterday.
Earthbound64
Banned
It's nice to be ahead of one of these trends for a change.
Tether (USDT) is tied 1/1 to the USD intentionally and is used as a cash equivalent if you want to convert your coin to something unchanging or send money without worrying about fluctuationg prices
(that chart goes all the way back to 2015, lowest temp drop was to $.93)
Dogecoin has intentional deflation built in to encourage people to use it and not hoard it in hopes of future profit