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 Posted: Wed Jun 7th, 2017 03:15 am
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srossi

 

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Just under $3,000 now. This was on my radar in Libertarian circles back when it was 10 cents. So mad I didn't trust my gut and jump in at the beginning, but I got in at around $2,300 and people I respect are saying it could go up 20x more in the next 12 months. Then you have Mark Cuban who says it's a bubble that's about to burst. Certainly risky to get in now but if you drop less than $10,000 for 3 bitcoins, a very modest investment, you could still find yourself in a very good position. Curious if anyone else is in or researching this. I'm on the Gemini exchange and use the Electrum wallet. 



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 Posted: Wed Jun 7th, 2017 04:00 am
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Mysterious



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srossi wrote: Just under $3,000 now. This was on my radar in Libertarian circles back when it was 10 cents. So mad I didn't trust my gut and jump in at the beginning, but I got in at around $2,300 and people I respect are saying it could go up 20x more in the next 12 months. Then you have Mark Cuban who says it's a bubble that's about to burst. Certainly risky to get in now but if you drop less than $10,000 for 3 bitcoins, a very modest investment, you could still find yourself in a very good position. Curious if anyone else is in or researching this. I'm on the Gemini exchange and use the Electrum wallet.
Please explain to me what Bitcoin is and how it works. I was reading on another forum that had you invested a measly $100 back when it started, you'd be worth a shitload today.

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 Posted: Wed Jun 7th, 2017 04:20 am
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srossi

 

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Mysterious wrote: srossi wrote: Just under $3,000 now. This was on my radar in Libertarian circles back when it was 10 cents. So mad I didn't trust my gut and jump in at the beginning, but I got in at around $2,300 and people I respect are saying it could go up 20x more in the next 12 months. Then you have Mark Cuban who says it's a bubble that's about to burst. Certainly risky to get in now but if you drop less than $10,000 for 3 bitcoins, a very modest investment, you could still find yourself in a very good position. Curious if anyone else is in or researching this. I'm on the Gemini exchange and use the Electrum wallet.
Please explain to me what Bitcoin is and how it works. I was reading on another forum that had you invested a measly $100 back when it started, you'd be worth a shitload today.

I was hoping someone wouldn't ask that because it's not really easy to explain.  The most common question is "What is Bitcoin backed by?" and the answer is "Absolutely nothing", which is both exciting and terrifying.  It's crypto-currency, a digital payment system.  I have never understood how mining works or any of that stuff.  I basically looked at it as a long-term investment, like I would any stock.  You basically open an electronic wallet first, that's where you store your Bitcoins.  You have to be very careful about keeping these secure, hackers are out there and it's all just computer code waiting to be stolen.  Then they have exchanges, just like stock exchanges, where you can buy and sell.  Many merchants now accept Bitcoin as currency, the first big one being Overstock.com I think, but I've never bought anything with it.  It's going through the roof and hasn't had many setbacks and if you put any amount at all into it in 2009, you'd be a millionaire today.  It could also all fold like a house of cards at any time.

Last edited on Wed Jun 7th, 2017 04:21 am by srossi



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 Posted: Wed Jun 7th, 2017 04:27 am
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srossi

 

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By the way, important point which I did not make clear: if you don't want to risk $3,000 you don't have to. You can buy less than 1 full Bitcoin. So you can try it out with maybe $200 to get the hang of it.



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 Posted: Wed Jun 7th, 2017 11:39 am
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freebirdsforever2001



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srossi wrote: Just under $3,000 now. This was on my radar in Libertarian circles back when it was 10 cents. So mad I didn't trust my gut and jump in at the beginning, but I got in at around $2,300 and people I respect are saying it could go up 20x more in the next 12 months. Then you have Mark Cuban who says it's a bubble that's about to burst. Certainly risky to get in now but if you drop less than $10,000 for 3 bitcoins, a very modest investment, you could still find yourself in a very good position. Curious if anyone else is in or researching this. I'm on the Gemini exchange and use the Electrum wallet. 
Well if a Billionaire like Cuban says it's about to burst, then I trust his opinion when it comes to making money.



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 Posted: Wed Jun 7th, 2017 11:45 am
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KGB

 

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I realize that without a gold standard the value of all currency is to some degree speculative but this just seems extra-dodgy. How susceptible is it to speculators, such as George Soros?

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 Posted: Wed Jun 7th, 2017 02:23 pm
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srossi

 

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freebirdsforever2001 wrote: srossi wrote: Just under $3,000 now. This was on my radar in Libertarian circles back when it was 10 cents. So mad I didn't trust my gut and jump in at the beginning, but I got in at around $2,300 and people I respect are saying it could go up 20x more in the next 12 months. Then you have Mark Cuban who says it's a bubble that's about to burst. Certainly risky to get in now but if you drop less than $10,000 for 3 bitcoins, a very modest investment, you could still find yourself in a very good position. Curious if anyone else is in or researching this. I'm on the Gemini exchange and use the Electrum wallet. 
Well if a Billionaire like Cuban says it's about to burst, then I trust his opinion when it comes to making money.

What about the other billionaires who love Bitcoin?  You realize no one agrees on anything, right?  Besides, no one knows when a bubble will burst. You can make a fortune before it does, like so many did with tech stocks 15 years ago. 

Last edited on Wed Jun 7th, 2017 02:24 pm by srossi



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 Posted: Wed Jun 7th, 2017 03:39 pm
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I remember this about six years ago. I was going to try to mine the bitcoin because I figured it was free - but my computer wasn't good enough to do it.



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 Posted: Wed Jun 7th, 2017 03:49 pm
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srossi

 

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Superstar wrote: I remember this about six years ago. I was going to try to mine the bitcoin because I figured it was free - but my computer wasn't good enough to do it.
No one's is, at least not any more. You need special graphic cards and tons of power to get anything these days. Like enough power to compromise the grid. This is a really interesting article about underground mining in Venezuela. 

https://www.google.com/amp/reason.com/archives/2016/11/28/the-secret-dangerous-world-of/amp

Last edited on Wed Jun 7th, 2017 03:49 pm by srossi



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 Posted: Wed Jun 7th, 2017 03:56 pm
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freebirdsforever2001



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srossi wrote: freebirdsforever2001 wrote: srossi wrote: Just under $3,000 now. This was on my radar in Libertarian circles back when it was 10 cents. So mad I didn't trust my gut and jump in at the beginning, but I got in at around $2,300 and people I respect are saying it could go up 20x more in the next 12 months. Then you have Mark Cuban who says it's a bubble that's about to burst. Certainly risky to get in now but if you drop less than $10,000 for 3 bitcoins, a very modest investment, you could still find yourself in a very good position. Curious if anyone else is in or researching this. I'm on the Gemini exchange and use the Electrum wallet. 
Well if a Billionaire like Cuban says it's about to burst, then I trust his opinion when it comes to making money.

What about the other billionaires who love Bitcoin?  You realize no one agrees on anything, right?  Besides, no one knows when a bubble will burst. You can make a fortune before it does, like so many did with tech stocks 15 years ago. 


All I said that if Cuban poo-poo's it, then I would stay away from it.



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 Posted: Wed Jun 7th, 2017 05:01 pm
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Mysterious



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Last edited on Wed Jun 7th, 2017 05:06 pm by Mysterious

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 Posted: Sat Jun 10th, 2017 01:00 pm
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Ultimark



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srossi wrote: Just under $3,000 now. This was on my radar in Libertarian circles back when it was 10 cents. So mad I didn't trust my gut and jump in at the beginning, but I got in at around $2,300 and people I respect are saying it could go up 20x more in the next 12 months. Then you have Mark Cuban who says it's a bubble that's about to burst. Certainly risky to get in now but if you drop less than $10,000 for 3 bitcoins, a very modest investment, you could still find yourself in a very good position. Curious if anyone else is in or researching this. I'm on the Gemini exchange and use the Electrum wallet. 
Yea, I brought this up to my neighbor several years ago and he begged me to stay away. Since he knew more, I did.  He regrets telling me that.
I figure the ship has sailed and getting in now could cause me to drown.

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 Posted: Sat Jun 10th, 2017 11:41 pm
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srossi

 

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Ultimark wrote: srossi wrote: Just under $3,000 now. This was on my radar in Libertarian circles back when it was 10 cents. So mad I didn't trust my gut and jump in at the beginning, but I got in at around $2,300 and people I respect are saying it could go up 20x more in the next 12 months. Then you have Mark Cuban who says it's a bubble that's about to burst. Certainly risky to get in now but if you drop less than $10,000 for 3 bitcoins, a very modest investment, you could still find yourself in a very good position. Curious if anyone else is in or researching this. I'm on the Gemini exchange and use the Electrum wallet. 
Yea, I brought this up to my neighbor several years ago and he begged me to stay away. Since he knew more, I did.  He regrets telling me that.
I figure the ship has sailed and getting in now could cause me to drown.

People thought the ship had sailed when it hit $50. It could easily get to $5000 or more before the bubble bursts. Serious money is just now starting to get involved. 



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 Posted: Sat Aug 12th, 2017 05:14 pm
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srossi

 

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Since I started this thread 2 months ago, Bitcoin is up $1,000 to just under $4,000 and "split", to create Bitcoin Cash, which you automatically got for "free" if you had Bitcoin. It's been an absolute juggernaut for me. I haven't made this much investing since 2000 in the stock market when I could do no wrong. And I have Ethereum too, which is also way up.

Last edited on Sat Aug 12th, 2017 05:14 pm by srossi



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 Posted: Sun Aug 13th, 2017 05:49 pm
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I hear it's great for buying narcotics and guns on the Dark Web. Can't be all bad.



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