Any Bitcoin nerds???
- Thread starter kingsskier
- Start date
iH8pow
Active member
13864856:skierman said:
The truth is halfway between. I can't stomach losses so I just usually keep about 1-2k in crypto and use it as a piggy bank withdrawing profits every now and then. I've made some money for sure but if I let it ride more I'd have way more money. My friend who got me into it started early but doesn't have a degree of a conventional job (sure growing weed at a dispensary IS a job, but..). I try so hard to push him to at least buy a house or something with some of his money so if it crashes he's not completely out but he's so firm in "I'm going to provide for generations below me" like fuck..
Slush
Active member
I've got a heavy amount of money invested in altcoins. Bitcoin functionally is a horrible, horrible cryptocurrency. It's slow, huge transaction fees, it's sitting on 10 year old technology. The longer bitcoin remains on top, the worse it is for the future of cryptocurrency. The time for making huge profits off of bitcoin is over anyways... Just this month I've pulled well over 650% on coins like REQ, IOTA, LTC, VTC... And there's way more money to be made than that. Find the right ICO and you could turn a 100$ investment into 500k. The only reason bitcoin is worth anything, is because it's the first coin people here about regarding cryptocurrency. The bitcoin bubble will pop, and when it does something far superior is going to take it's place
Earl_Globz
Active member
Apparently, there are super computers, that have the ability to crypto-mine across alternate dimensions. I must say, "hibaaahuhwhaaaaaaaat!!!!?" If we really can access alternate plains through inane computing, however, i find it rather amusing that it may be used only for making a buck. Well, lots of bucks. I asked myself about it, and we think that's pretty silly.
DirtYStylE
Active member
I have been hearing about this for the last five years. I never had more than 1k at any point and I would only be able to invest like 100 at a time. So I never went for it and I really missed out this last month. I finally have a stable good paying job so I am extremely tempted to jump in soon. I was originally planning on waiting another full year to open a real portfolio. My minimal research has led me tobelive that bitcoin is a serious bubble that won't last too much longer. It is cumbersome and there are alternative cryptocurrencies that are far supperior. I heard that Asia has 37 some banks that will start using XRP.
Is there another thread about cryptocurrencies where these things are being discussed?
Bull market? More like a Giraffe. Relevant poll option?
Is there another thread about cryptocurrencies where these things are being discussed?
Bull market? More like a Giraffe. Relevant poll option?
ShredderSexton
New member
I just made over 2k in a week on my LTC I'm just laughing. I didn't know anything about it, and everyone told me I was stupid. now I'm just laughing!
.MASSHOLE.
Active member
13868162:milk_man said:
It depends on the reason for the burst, but I'd say very unlikely.
Most people flee a sector when a bubble bursts, they don't run to the alternatives within the same sector.
You didn't see people buying up equity in banks during the housing crisis, even if they weren't heavily affected.
Same can be said in the Dotcom bubble, which was quite diversified when compared to cryptocurrencies.
If you ask me, the fact that you can trade BTC futures now to the continuing slowdown of mining, the likelihood of a crash is coming faster than anticipated. It's no longer an alternative currency, it's a financial tool. It doesn't behave like a currency nor is it used like one anymore.
Rparr
Active member
13868737:.MASSHOLE. said:
I used to use btc to buy bad things online and I find it very ironic that it’s essentially unusable as a currency because all of the people who used to scoff at it are now trying to get in on it as an investment. It’s terribly broken as a currency at the moment. Insane confirmation times and transaction fees
iH8pow
Active member
13867218:gaddafski said:
I don't think so yet but likely in the future. I've never participated in ICO's but I know the SEC has those on their radar. My friend is one more litecoin/ethereum run away from being a millionaire.
People have been HODL'ing for years though. Many people call it a scam and act like when the whales pull out it's gonna all crash. But the people I know who got in early and are big now are riding it to the moon and have no intention of cashing out, so can't say it's designed to be a scam. The people at the top actually believe in it--maybe the newcomers are just trying to turn a quick profit but there's tons that are committed, are holding on no matter what. Bitcoin is most definitely overvalued but as long as people keep buying it why not. I think Ethereum and ripple etc are probably the best long term holds that we have currently. Blockchain technology is real and not going anywhere, it's just a matter of whether you pick the right coin to hold on to or not. I'm hoping litecoin hits 4k-10k next year and I'll be comfortable, but what's crazy is thinking about the fact that if I make half a million my friend will have over 50 million. Tough to believe but it's tough to believe a friend who is only 26 is going to be my first millionaire friend. It's obscene to think about how much money some of those people have
**This post was edited on Dec 16th 2017 at 4:09:08pm
cadepinther
New member
@Drewwondo has made $20 but he thinks he's ballin' off the coin
Pataguccimane
Member
13869036:cadepinther said:
Can attest to this
T.L.
Active member
Ripple (XRP)
Major banks appear to be getting on board with this. Someone (probably a bank or government) moved 900 million XRP today worth about $700 million at today's price. Every time XRP goes up 1 cent, that account gains $9mil in value(USD). Let that shit sink in for a minute...
If you don't own any, get in now. Get into every alt coin you can. Verge is doing pretty well right now, Vertcoin is poised to make some serious moves in 2018, and coinbase is rumored to be offering several other alts in the very near future.
If anyone wants to talk crypto, holler at me. I've got a discord going and I'm trying to get some more conversation in there.
Major banks appear to be getting on board with this. Someone (probably a bank or government) moved 900 million XRP today worth about $700 million at today's price. Every time XRP goes up 1 cent, that account gains $9mil in value(USD). Let that shit sink in for a minute...
If you don't own any, get in now. Get into every alt coin you can. Verge is doing pretty well right now, Vertcoin is poised to make some serious moves in 2018, and coinbase is rumored to be offering several other alts in the very near future.
If anyone wants to talk crypto, holler at me. I've got a discord going and I'm trying to get some more conversation in there.
milk_man
Active member
13868737:.MASSHOLE. said:
So I think what you're saying is that if it is a bubble it's not only Bitcoin but cryptocurrency as a whole? I think that's less likely than only Bitcoin being a bubble. The people who are in other cryptocurrencies are not the same people, or the same magnitude of people who are in Bitcoin. I'd say that if it's a bubble, it's not crypto as a whole but just Bitcoin. But that's an amateur opinion, basically just a guess from me
.MASSHOLE.
Active member
13869450:milk_man said:
Yes. A bubble usually refers to an entire asset type or segment with an asset type (i.e. entire stock market or tech companies within the stock market).
If you're referring only to Bitcoin, you'd just say it's over-valued (which it is). But a lot of the cryptos up an insane amount this year alone, such as ETH (+2000%), LTC (+5000%), and BTC (+4000%), the entire sector is over-valued. Hence, bubble.
It doesn't matter if the same or different people are invested in the cryptos.
first_rodeo
Active member
Anyone have experience with Ripple or Bitstamp?
T.L.
Active member
13869625:first_rodeo said:
To me, Ripple feels like a good bet simply because of what's rumored to be on the horizon. And these prices are changing so fast that a spike in a coin up to .50 cents could see some serious gains if you bought at .02. Things like major real world bank tests, possible coinbase adoption, and alleged interest from Amazon make me hopeful. Right now Ripple is about 30% of my holdings but I'm moving coin daily so it's all relative to whats going on in the market as a whole.
Fuck it. Bought a litecoin.
I doubt I'll get rich but I figured I'd get in on the fun. I've spent money on so many worse things.
I doubt I'll get rich but I figured I'd get in on the fun. I've spent money on so many worse things.
13869970:theabortionator said:
Bought more, and some Ehtereum. Bought a tiny fraction of bitcoin as well.
I guess I'm involved now. Even if I lose it all this whole thing has proved interesting enough. Lets see what the fuck happens.
13869989:skierman said:
Fight me
13825977:kingsskier said:
Holy FUCC that was 5 months ago. So when are you throwing a party for us on your yacht?
13865087:Rparr said:
I had about $100 worth of bitcoins (around 0.4) i believe on mtgox a few months before their bankruptcy. Never got to see any of it. That was 3 years ago. Feelsbadman
.MASSHOLE.
Active member
From the WSJ
It's only a matter of time before a regulatory body tries to get its hands on this.
People are also going to get absolutely fucked when the bubble bursts.
The guy who said BTC is eventually going to replace currencies is an idiot. BTC fails the most important aspect of a currency; a store of value.
And before you say "but it's worth $19,000!!!!!", you're missing the point. The reason gold, silver, precious metals, bonds, the US dollar, Euro, Canadian dollar, etc. are currencies (bonds in layman terms help create dollars) is that they can, outside of the collapse of a civilized society, never be worth nothing.
Gold, silver, and other precious metals will always have a use and therefore be worth something.
Government bonds are ultimately worth something because they entitle the holder to interest payments. Someone can buy the bond on a public market and derive tangible results from doing so.
The dollar/Euro/any fiat currency is ultimately valuable because they're accepted as a means of payment.
BTC can go to zero. It can suddenly be worthless without any sort of net to catch those who hold it.
It doesn't offer any sort of interest payment. That's pretty simple. In that sense, it's not a store of value either.
Finally, BTC isn't widely accepted as a means of purchase. Who cares if someone else values your BTC at $19,000? If you can't go buy groceries, gas, etc. then what good is it?
As BTC rapidly increases in "value", the less likely people are going to be to use it as a currency, thereby slowing down its potential adoption as one.
This is ultimately why I believe the bubble will burst. Once a few smart/influential people start to acknowledge that BTC won't ever be a currency it is going to experience a heavy shock that will ultimately level out it's growth trajectory. It will just turn into another asset class. It may never be worth nothing, but it is not going to experience this exponential growth rate forever.
**This post was edited on Dec 19th 2017 at 8:27:04am
**This post was edited on Dec 19th 2017 at 8:31:19am
It's only a matter of time before a regulatory body tries to get its hands on this.
People are also going to get absolutely fucked when the bubble bursts.
The guy who said BTC is eventually going to replace currencies is an idiot. BTC fails the most important aspect of a currency; a store of value.
And before you say "but it's worth $19,000!!!!!", you're missing the point. The reason gold, silver, precious metals, bonds, the US dollar, Euro, Canadian dollar, etc. are currencies (bonds in layman terms help create dollars) is that they can, outside of the collapse of a civilized society, never be worth nothing.
Gold, silver, and other precious metals will always have a use and therefore be worth something.
Government bonds are ultimately worth something because they entitle the holder to interest payments. Someone can buy the bond on a public market and derive tangible results from doing so.
The dollar/Euro/any fiat currency is ultimately valuable because they're accepted as a means of payment.
BTC can go to zero. It can suddenly be worthless without any sort of net to catch those who hold it.
It doesn't offer any sort of interest payment. That's pretty simple. In that sense, it's not a store of value either.
Finally, BTC isn't widely accepted as a means of purchase. Who cares if someone else values your BTC at $19,000? If you can't go buy groceries, gas, etc. then what good is it?
As BTC rapidly increases in "value", the less likely people are going to be to use it as a currency, thereby slowing down its potential adoption as one.
This is ultimately why I believe the bubble will burst. Once a few smart/influential people start to acknowledge that BTC won't ever be a currency it is going to experience a heavy shock that will ultimately level out it's growth trajectory. It will just turn into another asset class. It may never be worth nothing, but it is not going to experience this exponential growth rate forever.
**This post was edited on Dec 19th 2017 at 8:27:04am
**This post was edited on Dec 19th 2017 at 8:31:19am
13870027:Rparr said:
Thats literally what I'm thinking of doing. Maxed out my regular tax free investments. Thinking of getting 1-2% of money I can afford to lose and just buying a huge basket of altcoins/cryptos as a speculative bet. Tbh most of it is just randomness, people like to think they can predict the future but they really cant. I'm doing this basically as a nassim taleb type of bet.
Speaking of which, anyone know a good exchange site to buy a lot of different types of coins as well as have the ability to track em like a portfolio? Whats a good subreddit for altcoins?
**This post was edited on Dec 19th 2017 at 11:07:58am
kingsskier
Active member
13870048:TRVP_ANGEL said:
There is predictability in BTC and altcoins. I bought in BTC super cheap and sold at 2200 with that investment. When I made the OP, BTC was at about $1700. I knew the hardfork efforts and changes would drive the price up. Thats why I posted. Changes cause change (for better or worse). Things are being driven up by demand and hope. There are things on the horizon for many altcoins, just do some researching.
kingsskier
Active member
Anyone riding waves and currency trading with altcoin on a daily, weekly, or hourly basis?
I started buying at low peaks and swapping for other altcoin when my current is peaked high (in a 2-3 day interval). I have made a little bit doing this, but its way too involved. You need to find altcoins that arent riding the same wave as your current. I dont think Im getting a good ROI when I include my time into it.
I started buying at low peaks and swapping for other altcoin when my current is peaked high (in a 2-3 day interval). I have made a little bit doing this, but its way too involved. You need to find altcoins that arent riding the same wave as your current. I dont think Im getting a good ROI when I include my time into it.
Rparr
Active member
13870086:kingsskier said:
I think your perceptions may be a bit skewed by the fact that you have ~2 btc that you bought at 1700ish if I recall, lol. Kind of the same way the drug dealing ruined the idea of traditional investments for me. I do agree that day trading seems too stressful though
kingsskier
Active member
13870096:Rparr said:
What do you mean my perception is skewed?
Yes I have just north of 2.3 BTC bought at a bunch of inverals (I have bought probably 5BTC all time and sold down to 2.3).
My current crypto portfolio is:
2.3 BTC
4 ETH (this was higher but it is what I used to buy the altcoin below)
2 LTC
1800 XRP
250 XEM
Rparr
Active member
13870111:kingsskier said:
I'm just saying nothing will ever compare to the kind of return on investment you got on those bitcoins lol. That's a hell of a portfolio though, you seem to have a lot of confidence in ripple
**This post was edited on Dec 19th 2017 at 1:09:46pm
**This post was edited on Dec 19th 2017 at 1:10:22pm
kingsskier
Active member
13870114:Rparr said:
Right. I mean, Im not comparing anything to a 10X explosion in 6 months. Im more comparing it to a traditional 3-5% stock growth in passive stocks in the real stock market. I dont have to touch a passive stock to make 5%. I do a ton of work following crypto detailed changes and make about 7-10% with a huge risk of loss. So far, its been informative, but a ton of work for not as nive of a reward and I think I am risking a lot doing it.
My next move is to sink a lot into ripple and wait for it to triple next year.
T.L.
Active member
13870114:Rparr said:
I don't think that's necessarily true. His 1800 coin stake in XRP could be a serious money maker. It's been hovering around $.70 pretty steadily and that's a decent sign considering some of the hype it's been getting.
If the tech is allowed to be tested and adopted the way some are thinking it might, there's no reason why we wouldn't see XRP in the $10's or $100's in the next couple months/years.
Just last night BCC was put on coinbase and It's up over 100% within just a few days. All people need to see for these coins to spike is adoption by major players and real world applications. I think XRP is on track to be getting plenty of both.
milk_man
Active member
There's this site that gives you free BTC every hour. Yeah I know it sounds fake lol, but you roll once per hour and you usually get 12 satoshi per hour (which is nothing), but you have a chance of getting a higher amount. I've gotten 1,000 satoshi a few times. You need 30,000 satoshi to cash out and I haven't gotten there yet so we'll see.
Use my referral link!!https://freebitco.in/?r=10753651
Use my referral link!!https://freebitco.in/?r=10753651
kingsskier
Active member
What does everyone think bitcoin is going to do next year? Im thinking about cashing out and getting myself a nice Christmas present.
milk_man
Active member
13871237:kingsskier said:
Slow during holidays, then level out at $17k for awhile (plus or minus 3k). Once it goes up to ~$27k at around February 2nd I'm gonna start to question if it's sustainable, and then I'm gonna sell my small amount at a peak of $33k.
If this all happens............
T.L.
Active member
It's going to start to climb a day or two after christmas. There's always a ton of new account signups and and influx of USD to crypto after holiday dinners. After 6-7 days, people will have their coin in their accounts and ready to move so I'm predicting a very good couple days for alts around Dec30th-Jan1st.
13871237:kingsskier said:
kingsskier
Active member
13871273:T.L. said:
That makes sense. Maybe Ill wait and make it a New Years gift.
.MASSHOLE.
Active member
Big drop off in the past few days.
Big test for the currencies and their ability to sustain this growth.
There's going to be a ceiling on this thing given that it's no longer functioning like a currency and has no value outside of that.
Big test for the currencies and their ability to sustain this growth.
There's going to be a ceiling on this thing given that it's no longer functioning like a currency and has no value outside of that.
kingsskier
Active member
13871396:.MASSHOLE. said:
That is why I think some of the other altcoins will work better than bitcoin. They can function as a currency because they have quicker transactions. There are many businesses that accept BTC for payment, but I know one major acceptor just dropped it because the transactions are too slow. Some of the other altcoins are way quicker and I think they will catch on.
I dont see this as a one coin show. I think many will succeed.
For example, BTCs intent is a generic currency. This could work if optimized.
On the other hand, ripple is a privately owned mass of 100billion coins that are sold. This means, it will have a market cap and will flux with inflaction for the better. The intent of the coin is for international money transfer and large movements. If you take a specific route and treat your coins like investments, I think you will catch on with the market youre after.
That being said, since ripple is a set amount and you dont mine it and the company sells it off essentially as stock. If ripple rises to $100/coin, that puts a valuation of the company at $10trillion. The largest companies in the world have not or barely have reached $1trillion. I dont see that as a viable number, UNLESS the USD value drops.
I definitely tangented off away from the quote. Also, this is just my opinion (and some other peoples opinion that I agree with, from where I read some of that information). Take it with a grain of salt or sugar or coke, whatever powder you want.
kingsskier
Active member
13871544:skierman said:
I have a sell trigger set at 13100. Hope it rebounds before hitting it.
T.L.
Active member
13871641:drifts said:
Get a coinbase, verify your account and link a card, bank account, or paypal. Make a purchase and it'll be in your coinbase wallet within 7 days. From there you can transfer it to other exchanges to trade for 'alt' coins, send it offline into a hardware wallet, spend it, whatever.