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theabortionatorI thought it was too high to buy in at $300. That said if I was in at anything under $1k I would fucking sell now. 700%+ is good enough for me.
I wasn't sure if it would get shutdown, but now everybody is doing it. That said, it seems like people are buying it just to buy it. Who knows what till happen in the future.
-emile-I'm into crypto, I have money int bitcoin, bitcoin cash and etherum. I think bitcoin will crash or restructure soon just because it's getting so big. People are getting in it just to make money which is the very definition of a speculative bubble. Long term though I think as Bicoin becomes more and more accepted and the fact that it's a decentralized currency that isn't controlled by central banks will make it a wayyyyy more prevalant thing.
DIRTYBUBBLEI use them for onion farming but not much else. I'm thinking about throwing some cash into Ethereum or Litecoin
IsitWinterYet17Hindsight is 20/20. But seriously go look and try to understand how bitcoin is made. You're literally buying money made by a computer. Very very very stupid and incredibly complex in my opinion. None of it is backed by physical value. Not insured by any government. All it takes is a huge event where everyone loses their bitcoin and the value will plummet. Its great if you're a criminal though. It has to peak sometime. Sure I could be wrong, but it seems crazy overvalued right now.
FriedRiceGod you are so wrong. Do you think your dollar is worth that much in gold?
IsitWinterYet17Well the dollar actually has physical backing. Bitcoin is created by mining code. Literally has ZERO physical backing. Sure people trade bitcoin for goods and services which in tern gives it value, but the actual origin has shit value, whereas the dollar is backed by gold.
I hope I'm wrong and you all make it big, but at $7000 bitcoin, the risk is more more to lose than gain. To double your profits buying in now, it would have to raise to $14000. Much different than buying in when it was lower.
THESAUCEPOSSEThe dollar hasnt been backed by gold since the 70s
IsitWinterYet17Well fuck me I learned something today. Ok, then the government backs it haha.
oxicleanBitcoin is backed by the dollar or equivalent.
IsitWinterYet17Well fuck me I learned something today. Ok, then the government backs it haha.
LonelyGiving out financial advice but doesn't know that we are not on the gold standard....seems legit
oxicleanBitcoin is backed by the dollar or equivalent.
IsitWinterYet17Not really financial advice, more of an opinion. God forbid I didn't realize 1 fact that the USD hasn't been backed by gold since 1971.
DISCLAIMER, THE FOLLOWING IS MY PERSONAL STUPID AF OPINION. I HAVE NO FINANCIAL POSITIONS IN BITCOIN OR ANY OTHER CRYPTO CURRENCY. FEEL FREE TO TELL ME TO ROYALLY FERK OFF: The point I was trying to make was that the national currencies are at least backed by the countries who printed the them, whereas bitcoin is backed by unicorns. No one really knows what will happen with bitcoin, but there's more of a popular concensus that bitcoin is crazy, yet profitable at times, because it's not backed by anything and while at 6500 now, the risk buying in is much greater than the early days. Shit bitcoin might skyrocket some more and break 10k, or it could plummet in a few years when people decide how overvalued it is. Bitcoin has gained almost 6k in the past year. Do you really think that will continue?
It's your choice if you wanna buy in at this mega price, but I'll sit aside and watch. I hope I'm wrong and you all get rich.
IsitWinterYet17Not really financial advice, more of an opinion. God forbid I didn't realize 1 fact that the USD hasn't been backed by gold since 1971.
DISCLAIMER, THE FOLLOWING IS MY PERSONAL STUPID AF OPINION. I HAVE NO FINANCIAL POSITIONS IN BITCOIN OR ANY OTHER CRYPTO CURRENCY. FEEL FREE TO TELL ME TO ROYALLY FERK OFF: The point I was trying to make was that the national currencies are at least backed by the countries who printed the them, whereas bitcoin is backed by unicorns. No one really knows what will happen with bitcoin, but there's more of a popular concensus that bitcoin is crazy, yet profitable at times, because it's not backed by anything and while at 6500 now, the risk buying in is much greater than the early days. Shit bitcoin might skyrocket some more and break 10k, or it could plummet in a few years when people decide how overvalued it is. Bitcoin has gained almost 6k in the past year. Do you really think that will continue?
It's your choice if you wanna buy in at this mega price, but I'll sit aside and watch. I hope I'm wrong and you all get rich.
edaiNot interested in Bitcoin. Bitcoin is just one small piece of the blockchain technology wave. Focus on blockchain and how you can put yourself in a position to earn various forms of cryptocurrencies and build a portfolio. The security is in your numbers, and the growth rates are obvious. I do believ
IsitWinterYet17Hindsight is 20/20. But seriously go look and try to understand how bitcoin is made. You're literally buying money made by a computer. Very very very stupid and incredibly complex in my opinion. None of it is backed by physical value. Not insured by any government. All it takes is a huge event where everyone loses their bitcoin and the value will plummet. Its great if you're a criminal though. It has to peak sometime. Sure I could be wrong, but it seems crazy overvalued right now.
IsitWinterYet17Saw this quote from Warren Buffet regarding Bitcoin. Pretty much sums it up. Also the risk right now is crazy high so not even worth it to jump in: "Stay away from it. It's a mirage basically. It's a method of transmitting money. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money, too. Are checks worth a whole lot of money? Just because they can transmit money? I hope bitcoin becomes a better way to do it. But you can replicate it a bunch of different ways. The idea that it has some huge intrinsic value is just a joke in my view."
IsitWinterYet17Fuck me sideways. Newschoolers. The forum that won't let someone live a statement down. Jesus this is like the billionth quote of what I said in here. It was my opinion. Obviously it differs than the majority of people here. Still not changing my mind. If you have any questions, just look above because I've already said all I have to say. Thanks. I'm out.
milk_manLolz, well....you are wrong. Research Bitcoin wallets and how hard it is to steal people's BTC.. Also, if you're using exchanges they have a HUGE incentive to protect your transactions. Really the only place where people will lose BTC to hackers is ghetto transactions that are illegal. Also.. The USD isn't backed by physical value, the USD has value because people decide it has value and they accept it. Same with Bitcoin. People decide how much value it has, and there's only a certain amount of BTC that can be mined.....gov't is always printing more dollars....
.MASSHOLE.Do not equate the USD to Bitcoin in that sense. Please.
One has a store of value, the other does not.
That is probably the singular most important aspect of a currency.
And you can lose Bitcoins if your exchange fucks up.
https://www.reuters.com/article/us-bitfinex-hacked-hongkong/bitcoin-worth-72-million-stolen-from-bitfinex-exchange-in-hong-kong-idUSKCN10E0KP
If anything, Bitcoin is a payment system. It's not a currency. It's more of a Paypal than a USD.
Blockchain, as someone posted above, is the most promising aspect of Bitcoin.
Bitcoin slipped from a record after the $31 million theft of a cryptocurrency peer renewed concern about the security of digital coins.
The company behind tether, a cryptocurrency used by bitcoin exchanges to facilitate trades with fiat currencies, announced the theft on Tuesday. It said in a statement that a “malicious” attacker removed tokens from the Tether Treasury wallet on Nov. 19 and sent them to an unauthorized bitcoin address. The company said it’s trying to prevent the stolen coins from being used.
Bitcoin dropped as much as 5.4 percent to $7,798.73, before paring the decline to 0.7 percent at 11:32 a.m. in London.
VinnieFAre you sure you have money in ethereum?
https://www.theguardian.com/technology/2017/nov/08/cryptocurrency-300m-dollars-stolen-bug-ether
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dh1028I'm Learning about Elliot wave theory and how to read trading charts to max profit.
GryllzWhere you at mod? this robot has posted in a couple threads purely soliciting
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