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 Posted: Thu Dec 7th, 2017 06:27 pm
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Ultimark



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Congrats on a good trade. Seems like a market melt up similar to the NASDAQ in late 99, early 00.

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 Posted: Thu Dec 7th, 2017 06:41 pm
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srossi

 

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Ultimark wrote: Congrats on a good trade. Seems like a market melt up similar to the NASDAQ in late 99, early 00.
No congratulations until I sell.  I'm not one of these people who think that Bitcoin is going to replace fiat, the government will never allow it.  I need to convert back into USD before it's a good trade, and that's my struggle now.   



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 Posted: Thu Dec 7th, 2017 06:42 pm
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Ultimark



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Can you just take out enough to ensure that you triple your money at least? What are the complicating factors of selling?

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 Posted: Thu Dec 7th, 2017 06:49 pm
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srossi

 

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Ultimark wrote: Can you just take out enough to ensure that you triple your money at least? What are the complicating factors of selling?
There are no complicating factors.  It's as easy as selling stock.  Sure, I can take out my initial investment only to ensure break-even, I can ensure that I've doubled or tripled my money too.  All things I'm considering of course. 

I'm trying to wait until 2018 for tax purposes though.  That's the biggest complicating factor actually, the fucking IRS (as always).

Last edited on Thu Dec 7th, 2017 06:50 pm by srossi



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 Posted: Thu Dec 7th, 2017 06:51 pm
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Ultimark



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JMO - I would do that and guarantee a triple, then ride with basically free money. It is going up in a way that looks very similar to the NASDAQ move. I know it could continue. However, these things always seem to end badly.
Not up to me though.  You were smart to be in early.

Last edited on Thu Dec 7th, 2017 06:51 pm by Ultimark

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 Posted: Thu Dec 7th, 2017 06:53 pm
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srossi

 

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Ultimark wrote: You were smart to be in early.
2 years before I invested I convinced myself I was too late.  It was about $200 then. It's hilarious to me that 7 months ago is now considered "early" when I've been trying to convince myself to buy Bitcoin for more than 5 years.

Last edited on Thu Dec 7th, 2017 06:57 pm by srossi



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 Posted: Thu Dec 7th, 2017 08:36 pm
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srossi

 

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This is a good point from an investor I respect:

Bitcoin is the huge news today, and the futures traders interested in short (betting on the coin going down) futures contracts that will be available Monday must be licking their chops just waiting to jump in. Bitcoin blew past $15,000 this morning, then $16,000, and finally $17,000 on some exchanges, after starting the day around $13,700! As I mentioned Tuesday, up to this point in Bitcoin, there has only been investors that were interested in seeing the coin go up in value. With the advent of futures trading, there will be very large investors that will have a financial interest in driving the price of Bitcoin down. In the long-term, having futures and options on Bitcoin will create a more accurate real market value, and provide some long-term price stability. In the short-term however, adding futures to Bitcoin should introduce some significant short-term volatility, and a great deal of risk to this current price. If you own Bitcoin, it will could be a wild and scary ride ahead. If you want to own Bitcoin but think you missed the run (well, you did miss the big run) you may have an opportunity to get in at significantly lower prices. Only time will tell, and I may very well be wrong (ask my wife, I usually am), but undoubtedly, the price risk goes up next week, at least for a while.



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 Posted: Thu Dec 7th, 2017 09:31 pm
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dr_papufnik

 

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I haven't been paying attention to this at all, but does this mean some guy who bought 100 bitcoins at a time when they were like 50 cents a piece is now literally worth 1.6 million dollars?

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 Posted: Thu Dec 7th, 2017 09:52 pm
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srossi

 

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dr_papufnik wrote: I haven't been paying attention to this at all, but does this mean some guy who bought 100 bitcoins at a time when they were like 50 cents a piece is now literally worth 1.6 million dollars?
That is exactly what that means (assuming they held all this time and weren't trading/buying/selling along the way).  I haven't heard from any of those people yet, but I know several who bought when it was between $50-$80 and just sold within the last few weeks.  And you can do the math on that too.

Last edited on Thu Dec 7th, 2017 09:52 pm by srossi



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 Posted: Thu Dec 7th, 2017 10:31 pm
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dr_papufnik

 

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Did people buy them as an investment in 2012 or 2013 or whenever? Was it seen that way by anybody?

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 Posted: Thu Dec 7th, 2017 11:34 pm
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freebirdsforever2001



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srossi wrote: This is a good point from an investor I respect:

Bitcoin is the huge news today, and the futures traders interested in short (betting on the coin going down) futures contracts that will be available Monday must be licking their chops just waiting to jump in. Bitcoin blew past $15,000 this morning, then $16,000, and finally $17,000 on some exchanges, after starting the day around $13,700! As I mentioned Tuesday, up to this point in Bitcoin, there has only been investors that were interested in seeing the coin go up in value. With the advent of futures trading, there will be very large investors that will have a financial interest in driving the price of Bitcoin down. In the long-term, having futures and options on Bitcoin will create a more accurate real market value, and provide some long-term price stability. In the short-term however, adding futures to Bitcoin should introduce some significant short-term volatility, and a great deal of risk to this current price. If you own Bitcoin, it will could be a wild and scary ride ahead. If you want to own Bitcoin but think you missed the run (well, you did miss the big run) you may have an opportunity to get in at significantly lower prices. Only time will tell, and I may very well be wrong (ask my wife, I usually am), but undoubtedly, the price risk goes up next week, at least for a while.

May I ask on how much you bought?



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 Posted: Fri Dec 8th, 2017 12:12 pm
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gwlee7



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Tulips.



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I just think it's amazing that Trump is really on Twitter all day, personally writing this shit. He's about 3 beers away from joining S&W and getting into a flame war with Ports.----srossi
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 Posted: Mon Dec 11th, 2017 03:19 pm
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srossi

 

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On the first day of Bitcoin futures trading, the futures have surged from $15,000 past $18,000.  The actual price of Bitcoin has stabilized all weekend in the $15,000-$16,000 range and is $16,500 right now. 

Last edited on Mon Dec 11th, 2017 03:19 pm by srossi



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 Posted: Tue Dec 12th, 2017 03:27 pm
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krazykid18

 

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Litecoin seems to be up and up on the way

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 Posted: Tue Dec 12th, 2017 03:27 pm
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krazykid18

 

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Litecoin seems to be up and up on the way

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