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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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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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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 09:21 am by 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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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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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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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 07:24 pm by srossi

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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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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 08:49 pm by srossi

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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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Last edited on Wed Jun 7th, 2017 10:06 pm by 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. 
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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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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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 10:14 pm by srossi

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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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Bitcoin is about to hit $6,000.  If you had invested in it when I posted, you would have doubled your money in 4 1/2 months.

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srossi wrote: Bitcoin is about to hit $6,000.  If you had invested in it when I posted, you would have doubled your money in 4 1/2 months.
How much did you make since you posted it 4.5 months ago?

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Superstar wrote: srossi wrote: Bitcoin is about to hit $6,000.  If you had invested in it when I posted, you would have doubled your money in 4 1/2 months.
How much did you make since you posted it 4.5 months ago?

I got in at $2,300 a little while before I posted about it.  I'm still kicking myself that I didn't pull the trigger years ago when it was next to nothing.  I also bought Ethereum at about $170 and it's now $300 (which is actually down, it reached $400 at one point).  I would highly recommend that if it drops back close to $5,000 again, people buy on the dip.  Everyone keeps thinking they're too late to the party, and I did too for a long time, but it keeps going up after the dips. 

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srossi wrote: Superstar wrote: srossi wrote: Bitcoin is about to hit $6,000.  If you had invested in it when I posted, you would have doubled your money in 4 1/2 months.
How much did you make since you posted it 4.5 months ago?

I got in at $2,300 a little while before I posted about it.  I'm still kicking myself that I didn't pull the trigger years ago when it was next to nothing.  I also bought Ethereum at about $170 and it's now $300 (which is actually down, it reached $400 at one point).  I would highly recommend that if it drops back close to $5,000 again, people buy on the dip.  Everyone keeps thinking they're too late to the party, and I did too for a long time, but it keeps going up after the dips. 


i have to wait til it drops to 4,000 but i might join now i don't know just confused 

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krazykid18 wrote: srossi wrote: Superstar wrote: srossi wrote: Bitcoin is about to hit $6,000.  If you had invested in it when I posted, you would have doubled your money in 4 1/2 months.
How much did you make since you posted it 4.5 months ago?

I got in at $2,300 a little while before I posted about it.  I'm still kicking myself that I didn't pull the trigger years ago when it was next to nothing.  I also bought Ethereum at about $170 and it's now $300 (which is actually down, it reached $400 at one point).  I would highly recommend that if it drops back close to $5,000 again, people buy on the dip.  Everyone keeps thinking they're too late to the party, and I did too for a long time, but it keeps going up after the dips. 


i have to wait til it drops to 4,000 but i might join now i don't know just confused 

I don’t know how realistic it is that it’ll drop to $4000 but it’s possible. It’s taken a couple of big dips this year. But if you really believe it will go up then it shouldn’t matter. Some are predicting $10,000 in less than 6 months. I wouldn’t be shocked. 

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Where are you buying it?

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Quattro wrote: Where are you buying it?
I use Gemini, a NY-based exchange which the Winkelvoss Brothers are involved in. There are many others. 

Last edited on Sat Oct 21st, 2017 08:16 am by srossi

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So you can buy directly with the exchange?
Cool

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I'm about to jump on board now. What could have been just a few years ago though. I definitely regret kicking the tires for as long as I did.

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carpetbeggar wrote: I'm about to jump on board now. What could have been just a few years ago though. I definitely regret kicking the tires for as long as I did.Man i am in banking.  We had a couple customer basically brokering bitcoin on these message board “exchanges”.  I had to do a lot of research to understand the mechanics. Which i still don’t.  But i almost bought 2 or 3 coins at 400 or so a coin just to help understand who individuals are anonymously trading these things.
I’d have turned 800 into 10K.   
Talk about regrets.

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Quattro wrote: So you can buy directly with the exchange?
Cool

You buy on an exchange the same way you’d buy stocks on Etrade. Some platforms are easier to use than others. Gemini is very simple. But the difference is you NEVER leave your Bitcoin on the exchange after you buy. You have to transfer to a wallet for security reasons. The exchanges get hacked all the time. I used the electronic wallet Breadwallet at first so you should Google that. As my money grew, I bought the hard wallet Nano Ledger S for $80, which basically looks like a USB but is the most secure wallet you can get and can’t be hacked even if you connect it to a compromised computer. Start slow and advance to that, Bread will be fine for starters. It all sounds very confusing but within 2 weeks of getting your feet wet with small transactions you’ll be doing all this like second nature. It’s not hard, just a bit different than what we’re used to with stocks. 

Last edited on Sat Oct 21st, 2017 06:27 pm by srossi

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The predictable dip is happening. $5,300 right now. If history is any indicator, once it reaches its bottom, it will steadily rise to $7,000 within 2 months. Of course, “past performance isn’t indicative of future results”. But I’m going to buy more.

Last edited on Wed Oct 25th, 2017 07:52 am by srossi

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Bitcoin just exploded past $7,000!  My prediction of 2 months happened in 1 week.

Last edited on Thu Nov 2nd, 2017 07:40 pm by srossi

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One of my retired coworkers just cashed in on this. Wishing I had listened the one time they had sage investment advice.

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broke wrote: One of my retired coworkers just cashed in on this. Wishing I had listened the one time they had sage investment advice.
I'd be absolutely shocked if this doesn't hit $10,000 relatively soon, so it's not too late.

The big decision for now of course is when, if, and how much to sell.  I've tripled my money in a little over 6 months.  I can take out what I put in and let the rest ride, or just leave it all there.  There are never any guarantees that the bottom won't drop out one day of course.  But I don't want to do anything until the new year because I will have to report this as income on my 2017 taxes if I do it now. 

Last edited on Sat Nov 4th, 2017 01:03 am by srossi

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I will be the first to admit that I don't understand these currencies. I am indirectly investing in a penny stock from Canada, symbol GET on the Venture and GLNNF OTC in the US. Basically a mobile payment app but they are creating relationships with the alternate currencies and getting into the marijuana game as well. A start up and very speculative. My basis is 37 cents. Now selling for 88.8 cents USD. Of course that could go to a penny overnight. You never know with these things. It is worth at least checking out.

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I invested on August 30th.

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I have always been skeptical of crypto currency, and this is why...

https://techcrunch.com/2017/11/07/a-major-vulnerability-has-frozen-hundreds-of-millions-of-dollars-of-ethereum/

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Agree with the skepticism. Let's see what happens to my small investment today. It is indirect exposure so I should be OK - maybe. WTF do I know?

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brodiescomics wrote: I have always been skeptical of crypto currency, and this is why...

https://techcrunch.com/2017/11/07/a-major-vulnerability-has-frozen-hundreds-of-millions-of-dollars-of-ethereum/

I read about that yesterday.  But technical issues, corruption, and security problems aren't exactly unique to cryptocurrencies. 

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Stock up 10% today so who knows?

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Ultimark wrote: Stock up 10% today so who knows?
What stock is up?

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The 2014 version of the St. Petersburg Bowl at the Tropicana Field was called the Bitcoin St. Petersburg Bowl. You could not use Bitcoin to pay for tickets, concessions, souvenirs, parking or anything else at the game nor were North Carolina State and UCF paid their $500,000 fees in the equivalent Bitcoin amount. Fully understanding that the sponsorship was purchased in the name of getting publicity, I still have to say that the game was on TV in a bar some friends and I were drinking at and we made a seemingly endless number of dumb jokes and comments about people at the game attempting to buy stuff with Bitcoin only to be told to get lost by confused stadium workers.

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tamalie wrote: The 2014 version of the St. Petersburg Bowl at the Tropicana Field was called the Bitcoin St. Petersburg Bowl. You could not use Bitcoin to pay for tickets, concessions, souvenirs, parking or anything else at the game nor were North Carolina State and UCF paid their $500,000 fees in the equivalent Bitcoin amount. Fully understanding that the sponsorship was purchased in the name of getting publicity, I still have to say that the game was on TV in a bar some friends and I were drinking at and we made a seemingly endless number of dumb jokes and comments about people at the game attempting to buy stuff with Bitcoin only to be told to get lost by confused stadium workers.
During the Super Bowl in January, a number of area strip clubs got equipped to accept Bitcoin.  The strippers had QR codes on their arms that could be scanned and there were Bitcoin ATMs on site.  That's when I knew it was starting to take off.  New tech always starts with naked chicks. 

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srossi wrote: Ultimark wrote: Stock up 10% today so who knows?
What stock is up?
GLNNF - a mobile payment app out of Vancouver that has signed a deal with netcoins.  Full disclosure - not the reason I bought the stock which is part of my very small go for broke allocation. 

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srossi wrote: tamalie wrote: The 2014 version of the St. Petersburg Bowl at the Tropicana Field was called the Bitcoin St. Petersburg Bowl. You could not use Bitcoin to pay for tickets, concessions, souvenirs, parking or anything else at the game nor were North Carolina State and UCF paid their $500,000 fees in the equivalent Bitcoin amount. Fully understanding that the sponsorship was purchased in the name of getting publicity, I still have to say that the game was on TV in a bar some friends and I were drinking at and we made a seemingly endless number of dumb jokes and comments about people at the game attempting to buy stuff with Bitcoin only to be told to get lost by confused stadium workers.
During the Super Bowl in January, a number of area strip clubs got equipped to accept Bitcoin.  The strippers had QR codes on their arms that could be scanned and there were Bitcoin ATMs on site.  That's when I knew it was starting to take off.  New tech always starts with naked chicks. 

It definitely says something about the rise of Bitcoin and possibly also about the demographic of Bitcoin adoptees.

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"The Big Bang Theory" is about to do an episode on Bitcoin, and considering how popular that show is that should be huge.  I don't know how it's going to be portrayed though.  Liberals seem to hate Bitcoin for some reason.

Last edited on Fri Nov 10th, 2017 09:11 pm by srossi

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It does smell like a bubble to me but bubbles can go on for a very long time. I can see it as a currency but from an investment perspective it seems as though we could be in a bit of a mania right now. I am not predicting anything because you never know what could happen.

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The negative perception that I've seen about Bitcoin, valid or not, stems either from it being an unregulated house of cards that could/will collapse at any moment and render its utilizers out tons of real dough and/or it is a way for criminal types to move around and launder ill gotten gains.

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tamalie wrote: The negative perception that I've seen about Bitcoin, valid or not, stems either from it being an unregulated house of cards that could/will collapse at any moment and render its utilizers out tons of real dough and/or it is a way for criminal types to move around and launder ill gotten gains.
This is indeed the perception that the mainstream media tries to push, and I find it pretty laughable. 

On the first point, anyone who was in the stock market or was involved on a run on a bank knows that anything can collapse at any time.  The stock market and the way the Fed manipulates currency is certainly as shady as anything happening with Bitcoin.  The difference is whether the government is doing it or individual investors are doing it.

The second point is typical scare-mongering about supporting terrorism, child exploitation, drugs, etc.  All the stuff that's used as an excuse for everything.  Bitcoin was the method of payment on the Dark Web for buying drugs, guns, etc. but I'd estimate less than 3% of people who currently are into Bitcoin have any idea about this.  I can also tell you that the exchanges are now heavily regulated and follow KYC (Know Your Customer), so to get approved for my account I had to scan my passport.  I didn't even have to do that the first time I opened a brokerage account in the '90s.  There is no anonymity anymore, at least not unless you're really technologically savvy and know some tricks, but that can be said for anything.  At this point you can't even hide your gains from the IRS much less buy something illegal without any trail.   

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P.S. Bitcoin took a huge dump over the weekend and went from $7,000 to $5,500.  It's back to $6,400 as I type this.  Again, followng the pattern, don't be shocked if it now hits $8,000 somewhat quickly.  I'm a bit more wary about it this time though because all the Bitcoin money went into its off-shot Bitcoin Cash, which doubled as Bitcoin sank.  So there's a bit of a Bitcoin war going on.  

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Yeah that was me.

I bought it fell.

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srossi wrote: P.S. Bitcoin took a huge dump over the weekend and went from $7,000 to $5,500.  It's back to $6,400 as I type this.  Again, followng the pattern, don't be shocked if it now hits $8,000 somewhat quickly.  I'm a bit more wary about it this time though because all the Bitcoin money went into its off-shot Bitcoin Cash, which doubled as Bitcoin sank.  So there's a bit of a Bitcoin war going on.  

This sounds like when the nWo broke up into Black & White and Black & Red. It's the beginning of the end. Just make sure you don't invest in the B-team.

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Kriss wrote: srossi wrote: P.S. Bitcoin took a huge dump over the weekend and went from $7,000 to $5,500.  It's back to $6,400 as I type this.  Again, followng the pattern, don't be shocked if it now hits $8,000 somewhat quickly.  I'm a bit more wary about it this time though because all the Bitcoin money went into its off-shot Bitcoin Cash, which doubled as Bitcoin sank.  So there's a bit of a Bitcoin war going on.  

This sounds like when the nWo broke up into Black & White and Black & Red. It's the beginning of the end. Just make sure you don't invest in the B-team.

LOL  The debate right now is which one is the B team.  I'm all in on Bitcoin Classic.  Then there's also Bitcoin Gold, which is the one that has Vincent and Horace in it.

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That explains why my stock when down 15% yesterday and recovered a bit at the end.

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Just checked. The stock, GLNNF, is down another 10% today. My basis is only 37 cents per share though.

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The entire premise of Bitcoin sounds like a giant work. It's money that's not real, and people accept it for goods and services. Which makes it seems like it's money but it's not. Like I said, i would have taken some for free, but never pay for it.

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Superstar wrote: The entire premise of Bitcoin sounds like a giant work. It's money that's not real, and people accept it for goods and services. Which makes it seems like it's money but it's not. Like I said, i would have taken some for free, but never pay for it.
All of our currency has been a giant work since we came off the Gold Standard about 80 years ago.

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srossi wrote: Superstar wrote: The entire premise of Bitcoin sounds like a giant work. It's money that's not real, and people accept it for goods and services. Which makes it seems like it's money but it's not. Like I said, i would have taken some for free, but never pay for it.
All of our currency has been a giant work since we came off the Gold Standard about 80 years ago.

I can agree with that too.  But weren't we still on the Gold Standard right up until Nixon took office?  My dad told me he remembers when they basically confiscated all the gold coins in circulation and made you exchange them for paper money because the gold was worth more than the face value at that time.  They also stopped issuing gold certificates, and by the late 50s pulled all the silver certificates from circulation too.  I have a couple of those that I got in my change over the years, they aren't worth much more than a buck but they are cool to have.

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Superstar wrote: srossi wrote: Superstar wrote: The entire premise of Bitcoin sounds like a giant work. It's money that's not real, and people accept it for goods and services. Which makes it seems like it's money but it's not. Like I said, i would have taken some for free, but never pay for it.
All of our currency has been a giant work since we came off the Gold Standard about 80 years ago.

I can agree with that too.  But weren't we still on the Gold Standard right up until Nixon took office?  My dad told me he remembers when they basically confiscated all the gold coins in circulation and made you exchange them for paper money because the gold was worth more than the face value at that time.  They also stopped issuing gold certificates, and by the late 50s pulled all the silver certificates from circulation too.  I have a couple of those that I got in my change over the years, they aren't worth much more than a buck but they are cool to have.

It was an evokaution from the '30s to the '60s I think of slowly pulling us off of it.  The confiscation of gold coins incident definitely left a last impression on anyone old enough to have lived through it.  Most don't remember it today though.

Last edited on Tue Nov 14th, 2017 09:41 pm by srossi

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srossi wrote: Superstar wrote: srossi wrote: Superstar wrote: The entire premise of Bitcoin sounds like a giant work. It's money that's not real, and people accept it for goods and services. Which makes it seems like it's money but it's not. Like I said, i would have taken some for free, but never pay for it.
All of our currency has been a giant work since we came off the Gold Standard about 80 years ago.

I can agree with that too.  But weren't we still on the Gold Standard right up until Nixon took office?  My dad told me he remembers when they basically confiscated all the gold coins in circulation and made you exchange them for paper money because the gold was worth more than the face value at that time.  They also stopped issuing gold certificates, and by the late 50s pulled all the silver certificates from circulation too.  I have a couple of those that I got in my change over the years, they aren't worth much more than a buck but they are cool to have.

It was an evokaution from the '30s to the '60s I think of slowly pulling us off of it.  The confiscation of gold coins incident definitely left a last impression on anyone old enough to have lived through it.  Most don't remember it today though.

Asked my dad why they just didn't keep the coins, and he said "we wouldn't have had money for food, so we were forced to trade them in".

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Quattro wrote: Yeah that was me.

I bought it fell.

It's already back to $7,200 on the way to a new high.  You're fine.

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srossi wrote: Quattro wrote: Yeah that was me.

I bought it fell.

It's already back to $7,200 on the way to a new high.  You're fine.

Bitcoin hit (or came within dollars of hitting) $8,000 over night and has now settled in at $7,900.  I really wish I was actively trading this instead of just holding because the pattern has become so predictable.  Anyone buying all the dips and selling the peaks are making a killing.  Even me just holding, I'm up almost 4x.  I don't see $10,000 this year being out of the question at all and don't know how far this can go.

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Jesus....$9695.00 now

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carpetbeggar wrote: Jesus....$9695.00 now
And Ethereum is over $475 too now. I bought a smaller crypto called Potcoin (think penny stock) at 9 cents in September and sold it yesterday at 30 cents. There’s so much money to be made here it’s crazy. 

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Bitcoin price growth in days:

$0 - $1000: 1789 days
$1000- $2000: 1271 days
$2000- $3000: 23 days
$3000- $4000: 62 days
$4000- $5000: 61 days
$5000- $6000: 8 days
$6000- $7000: 13 days
$7000- $8000: 14 days
$8000- $9000: 9 days

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I have been studying investing for a few years now. It is basically what I do. I have devoted 40 hours a week towards investing and studying the markets. At this point, there is no doubt in my mind that this is a bubble. However, I also know that bubbles can continue to grow for a long time and it is hard to predict ahead of time when it will burst. I will say this - amazon doesn't accept bit coin. Walmart does not. It is not that easy to pay for something with a crypto currency although the use has grown.

I have an investment in a very tiny firm in Vancouver that promotes a payment app and is indirectly related to alt currencies. It has flown up over 600% in less than 3 months. My investment was small - 37 cent basis, 4000 shares. I have removed a 1000 shares now and have all my basis back plus an $800 profit. Still have 3000 shares. Even if it collapses, I wont feel too awful now.

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Ultimark wrote: I have been studying investing for a few years now. It is basically what I do. I have devoted 40 hours a week towards investing and studying the markets. At this point, there is no doubt in my mind that this is a bubble. However, I also know that bubbles can continue to grow for a long time and it is hard to predict ahead of time when it will burst. I will say this - amazon doesn't accept bit coin. Walmart does not. It is not that easy to pay for something with a crypto currency although the use has grown.

Don't forget that this is international and much bigger in countries with devalued currency, a dictatorial or communist government, a thriving black market for everyday goods, etc.  It's bigger than Walmart.  It's huge in Zimbabwe (has been worth over $10,000 there for months already), Venezuela, Estonia, etc.  There's a Bitcoin war in China right now as the government is trying to shut it down and struggling to do so.  America isn't a major market for something like this, we just look at everything from an American perspective.  Acceptance by major American companies will help of course, but we're already beyond that.  There are tons of people around the world who are using it to buy bread to feed their families. 

Last edited on Mon Nov 27th, 2017 09:58 pm by srossi

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Estonia sounds like a fake country where a devious masked wrestler would hail from back in 1986. Just saying.

And as far as the Bitcoin values across the world, you look at it this way: A lot of these countries' currency is almost valueless. When you can get a currency that will allow you to buy internationally from much stronger countries, you will try to get hold of it. I've been to Mexico, Canada, Jamaica, and the Dominican. Canada is the ONLY country where they have shown a preference to being paid in their own currency. Everywhere I've gone in Mexico, Jamaica, and the Dominican I've been quoted prices 100% of the time in USD and if I want to pay in their local currency they usually need to get a calculator to figure out how much I owe them, and they usually do not make change.

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Superstar wrote: Estonia sounds like a fake country where a devious masked wrestler would hail from back in 1986. Just saying.

And as far as the Bitcoin values across the world, you look at it this way: A lot of these countries' currency is almost valueless. When you can get a currency that will allow you to buy internationally from much stronger countries, you will try to get hold of it. I've been to Mexico, Canada, Jamaica, and the Dominican. Canada is the ONLY country where they have shown a preference to being paid in their own currency. Everywhere I've gone in Mexico, Jamaica, and the Dominican I've been quoted prices 100% of the time in USD and if I want to pay in their local currency they usually need to get a calculator to figure out how much I owe them, and they usually do not make change.
I have had the same experience.  Even in Canada, they usually accept either CAD or USD.  

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When things shoot up this fast, no matter what it is, there is always a day of reckoning. Given my 3000 shares of GLNNF seem to be moving with the bit coin craze, I hope it continues for a while. If the next 3 months were like the last 3, the stock will be selling for about $15 a shares.

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My understanding was that China was absolutely not opposed to Bitcoin as they use their surplus energy production for mining and getting in on the fun.

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indikator wrote: My understanding was that China was absolutely not opposed to Bitcoin as they use their surplus energy production for mining and getting in on the fun.
They've been shutting down some exchanges and basically making ICOs in particular impossible.  What the government is doing is a different matter, but they're not making it easy on its citizens and entrepreneurs in the industry. 

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Would you apply that notion to the faction in different countries that wants to scrap or already has scrapped solar subsidies so that only their nuclear plants will receive subsidies? It's a slipperly slope sometimes.

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Ultimark wrote: Superstar wrote: Estonia sounds like a fake country where a devious masked wrestler would hail from back in 1986. Just saying.

And as far as the Bitcoin values across the world, you look at it this way: A lot of these countries' currency is almost valueless. When you can get a currency that will allow you to buy internationally from much stronger countries, you will try to get hold of it. I've been to Mexico, Canada, Jamaica, and the Dominican. Canada is the ONLY country where they have shown a preference to being paid in their own currency. Everywhere I've gone in Mexico, Jamaica, and the Dominican I've been quoted prices 100% of the time in USD and if I want to pay in their local currency they usually need to get a calculator to figure out how much I owe them, and they usually do not make change.
I have had the same experience.  Even in Canada, they usually accept either CAD or USD.  

I've never seen a place here turn down American money although I am sure there are some. Thing is the exchange rate is usually lousy in a shop or store so you're better off converting to Canadian at the best rate possible before you come here.

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khawk wrote: Ultimark wrote: Superstar wrote: Estonia sounds like a fake country where a devious masked wrestler would hail from back in 1986. Just saying.

And as far as the Bitcoin values across the world, you look at it this way: A lot of these countries' currency is almost valueless. When you can get a currency that will allow you to buy internationally from much stronger countries, you will try to get hold of it. I've been to Mexico, Canada, Jamaica, and the Dominican. Canada is the ONLY country where they have shown a preference to being paid in their own currency. Everywhere I've gone in Mexico, Jamaica, and the Dominican I've been quoted prices 100% of the time in USD and if I want to pay in their local currency they usually need to get a calculator to figure out how much I owe them, and they usually do not make change.
I have had the same experience.  Even in Canada, they usually accept either CAD or USD.  

I've never seen a place here turn down American money although I am sure there are some. Thing is the exchange rate is usually lousy in a shop or store so you're better off converting to Canadian at the best rate possible before you come here.


When I went to Montreal in 2009 I definitely needed to exchange my money for CAD.  Now maybe Montreal are the outliers because they barely consider themselves Canadian, but I always recall the story of walking into a nearly empty strip club at the height of the recession where there were 30 girls working and 3 customers and all eyes fell on us and I looked at my friend and said, 'Um, how does this work with coins?  Perhaps we should've researched this ahead of time."  The girls insisted that all Canadians use 5-dollar notes, making that a 500% mark-up from American strip clubs.  Oh, those shifty werkers.  I remember joking that I would just throw loonies at them and see who could catch them.  They were not amused, and I'm fairly certain that in 2017 that is now considered sexual assault and ends my budding career in both Hollywood and politics.   

When I crossed the Niagara Falls border a few years back, obviously I used USD but I got all my change back in CAD and never bothered to exchange it.

Last edited on Tue Nov 28th, 2017 07:32 pm by srossi

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Bitcoin briefly hit $10,000 a little while ago, although it quickly fell back to $9,800.  But still, another new all-time high.

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Montreal doesn't count. lol

It depends on the club. Some will accept loonies and the girls will try to pick them up with their tits while you hold it in your mouth. But lapdances have risen in price a lot in the last several years, think it's ten a pop now.

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khawk wrote: Montreal doesn't count. lol

It depends on the club. Some will accept loonies and the girls will try to pick them up with their tits while you hold it in your mouth. But lapdances have risen in price a lot in the last several years, think it's ten a pop now.

The lapdances are the least of it, at some upscale places in NYC it's easily $20 a song now, not that I go much these days.  I'm talking about what they were looking for to just prance around on stage.  I'm not sure how you slip a loonie between tits like you do a dollar, but I'm sure with experience I could figure it out.

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Having ample experience in Montreal strip clubs from about 2003 to 2007, I can attest that it is possible. I will keep the details to myself.

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srossi wrote:  I'm not sure how you slip a loonie between tits like you do a dollar, but I'm sure with experience I could figure it out.Lots of practice. :)

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gotta bring a roll of em and look for the gal with the firmest tits.

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Broke $11,500 today. This is nuts. The crash, or st least a major correction, has to be right around the corner. But people have been saying that for a while...

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Wow. Just found out a pharmacist friend of mine has made over $500,000 in this and has begun to sell.

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This is bringing back bad memories of me not buying Netflix Stock in 2001

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How much was a bit coin 5-7 yrs ago?

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Benlen wrote: How much was a bit coin 5-7 yrs ago?
In July 2010 it was worth...8 cents. That’s why you have so many crypto millionaires walking around today. 

When I first became interested in it in 2012, it was fluctuating wildly between $10-$15 and everyone said the bubble was about to burst. I didn’t buy. 

Last edited on Thu Nov 30th, 2017 06:25 am by srossi

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srossi wrote: Broke $11,500 today. This is nuts. The crash, or st least a major correction, has to be right around the corner. But people have been saying that for a while...
Some dude on posted on reddit a while ago that he'll have his left nut surgically removed if it hit $10,000 before the end of 2017.

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Mysterious wrote: srossi wrote: Broke $11,500 today. This is nuts. The crash, or st least a major correction, has to be right around the corner. But people have been saying that for a while...
Some dude on posted on reddit a while ago that he'll have his left nut surgically removed if it hit $10,000 before the end of 2017.
Now, a stock goes up if they mention any of the following - bitcoin, blockchain, crypto currency strategy.  Doesn't matter what the details are. 

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Bitcoin has dropped to $9,300 this morning, a much-needed correction that I'm not overly concerned with.  I don't pretend to know where this is going and I offer no advice at this point, but if you were STILL looking for a dip to buy on, well, this is it.  This might be your last shot to buy at under $10,000 for a very long time.  Unless it completely collapses.  I don't think it will, but I don't know for sure.  I'll just say that anyone who bought when I first started this thread in June made out like a bandit and owes me a finder's fee or something.

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some exchanges froze up yesterday from all the activity.

Last edited on Thu Nov 30th, 2017 08:26 pm by Ultimark

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Bitcoin has stabilized at around $9,400-$9,500.  I'd actually love to see it just stay in that range for the rest of the year.  Huge increases (or drops) make me nervous and I want the slow and steady approach.  If it can maintain this until Jan. 1, I'll take my initial investment out and let the rest ride.  I really don't want to cash anything out this year though for tax purposes (and yes, contrary to popular (liberal) belief, you have to pay taxes on this and the exchanges do report to the IRS).  I might not be able to wait until Jan. 1 though.  I really just want some stability.

While everyone was talking about Bitcoin, Ethereum broke $500 within the past couple of days and then came crashing down to $350, now back to $400 this morning.  I'm in on that too, to a lesser degree, and that still has a lot of growth left in it, but it's disappointing that it couldn't hold $500. 

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What is Ethereum?

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Ultimark wrote: What is Ethereum?
The second most popular crypto after Bitcoin and the Bitcoin spin-offs.  Supposedly it's more practical and has a better blockchain functionality, for those interested in the technical.

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Sorry to ask so many questions. Can you provide a link for the exchange you use? Not that I will buy at this point but I want to learn more.

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Ultimark wrote: Sorry to ask so many questions. Can you provide a link for the exchange you use? Not that I will buy at this point but I want to learn more.
https://gemini.com/

For Bitcoin and Ethereum and cashing out in USD only.

I also use Bittrex, which is much more complicated, and allows you to trade any cryptos with Bitcoin and not USD being the standard currency.

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Speaking of bubbles...the DOW just surpassed 24,000 for the first time ever.  The market has just been going crazy thanks to Trump's tax plan.  I no longer own stock other than what's in my 401(k), pension, etc. and a significant position in Citi that I got stuck with after it went down 80% during the great recession, but more people are liable to lose their shirts here (again) than with Bitcoin.

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Thanks for the info.

Yea, the market is high but, outside of a handful of large cap stocks (Netflix, Amazon and a few others) it is not in bubble territory quite yet. Emerging Market stocks are still cheap actually and European stocks are probably undervalued as well. A correction is overdue but people have thought that forever now.

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having said that, I have been slowly reducing my exposure at well. Nothing too sudden since I have learned it is next to impossible to time the market but it is riskier now than anytime since 07. I don't think a 50% drop is around the corner but the chances of a 10 to 20% drop are increasing.

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I always found Montreal strip clubs the worst in terms of trying to milk the customer of every dollar they have.


Ruins the whole experience IMO.

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srossi wrote: Bitcoin has dropped to $9,300 this morning, a much-needed correction that I'm not overly concerned with.  I don't pretend to know where this is going and I offer no advice at this point, but if you were STILL looking for a dip to buy on, well, this is it.  This might be your last shot to buy at under $10,000 for a very long time.  Unless it completely collapses.  I don't think it will, but I don't know for sure.  I'll just say that anyone who bought when I first started this thread in June made out like a bandit and owes me a finder's fee or something.
It took a weekend to bounce back to $11,775. Closing in on another milestone of $12,000. 

On another note, I bought Potcoin at 9 cents, sold it at 30 cents the day after Thanksgiving, and now it’s at 45 cents. Fuck. 

Last edited on Sun Dec 3rd, 2017 10:08 pm by srossi

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srossi wrote: srossi wrote: Bitcoin has dropped to $9,300 this morning, a much-needed correction that I'm not overly concerned with.  I don't pretend to know where this is going and I offer no advice at this point, but if you were STILL looking for a dip to buy on, well, this is it.  This might be your last shot to buy at under $10,000 for a very long time.  Unless it completely collapses.  I don't think it will, but I don't know for sure.  I'll just say that anyone who bought when I first started this thread in June made out like a bandit and owes me a finder's fee or something.
It took a weekend to bounce back to $11,775. Closing in on another milestone of $12,000. 

On another note, I bought Potcoin at 9 cents, sold it at 30 cents the day after Thanksgiving, and now it’s at 45 cents. Fuck. 

What's the best way to buy Potcoin, Steve?

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freebirdsforever2001 wrote: srossi wrote: srossi wrote: Bitcoin has dropped to $9,300 this morning, a much-needed correction that I'm not overly concerned with.  I don't pretend to know where this is going and I offer no advice at this point, but if you were STILL looking for a dip to buy on, well, this is it.  This might be your last shot to buy at under $10,000 for a very long time.  Unless it completely collapses.  I don't think it will, but I don't know for sure.  I'll just say that anyone who bought when I first started this thread in June made out like a bandit and owes me a finder's fee or something.
It took a weekend to bounce back to $11,775. Closing in on another milestone of $12,000. 

On another note, I bought Potcoin at 9 cents, sold it at 30 cents the day after Thanksgiving, and now it’s at 45 cents. Fuck. 

What's the best way to buy Potcoin, Steve?

It’s not as straightforward to buy other altcoins as it is Bitcoin because Bitcoin is what you typically use to pay for the others. I bought it on the Bittrex exchange using Bitcoin. There might be ways to buy directly from them on their website. I’ll look into it. 

Last edited on Sun Dec 3rd, 2017 10:40 pm by srossi

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srossi wrote: freebirdsforever2001 wrote: srossi wrote: srossi wrote: Bitcoin has dropped to $9,300 this morning, a much-needed correction that I'm not overly concerned with.  I don't pretend to know where this is going and I offer no advice at this point, but if you were STILL looking for a dip to buy on, well, this is it.  This might be your last shot to buy at under $10,000 for a very long time.  Unless it completely collapses.  I don't think it will, but I don't know for sure.  I'll just say that anyone who bought when I first started this thread in June made out like a bandit and owes me a finder's fee or something.
It took a weekend to bounce back to $11,775. Closing in on another milestone of $12,000. 

On another note, I bought Potcoin at 9 cents, sold it at 30 cents the day after Thanksgiving, and now it’s at 45 cents. Fuck. 

What's the best way to buy Potcoin, Steve?

It’s not as straightforward to buy other altcoins as it is Bitcoin because Bitcoin is what you typically use to pay for the others. I bought it on the Bittrex exchange using Bitcoin. There might be ways to buy directly from them on their website. I’ll look into it. 

Talking my wife into trying out some of this Potcoin before it goes up too much. Figure if we spend on a little to try it out, it wouldn't hurt if it tanked.

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freebirdsforever2001 wrote: srossi wrote: freebirdsforever2001 wrote: srossi wrote: srossi wrote: Bitcoin has dropped to $9,300 this morning, a much-needed correction that I'm not overly concerned with.  I don't pretend to know where this is going and I offer no advice at this point, but if you were STILL looking for a dip to buy on, well, this is it.  This might be your last shot to buy at under $10,000 for a very long time.  Unless it completely collapses.  I don't think it will, but I don't know for sure.  I'll just say that anyone who bought when I first started this thread in June made out like a bandit and owes me a finder's fee or something.
It took a weekend to bounce back to $11,775. Closing in on another milestone of $12,000. 

On another note, I bought Potcoin at 9 cents, sold it at 30 cents the day after Thanksgiving, and now it’s at 45 cents. Fuck. 

What's the best way to buy Potcoin, Steve?

It’s not as straightforward to buy other altcoins as it is Bitcoin because Bitcoin is what you typically use to pay for the others. I bought it on the Bittrex exchange using Bitcoin. There might be ways to buy directly from them on their website. I’ll look into it. 

Talking my wife into trying out some of this Potcoin before it goes up too much. Figure if we spend on a little to try it out, it wouldn't hurt if it tanked.

If you're only going to invest a little in one then put it in Bitcoin.  It seems a lot more stable.  I'm waiting for Potcoin to drop significantly before buying more of that.  I wouldn't be shocked if Potcoin goes back to 10 cents but Bitcoin is very unlikely to drop 75% before you can sell.  Plus Bitcoin is the gateway to all the others, if you have Bitcoin it's easier to buy into other positions.

Last edited on Mon Dec 4th, 2017 02:53 am by srossi

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I came here to say that Bitcoin hit $12,000, but before I could it hit $13,000.  So if you had even just invested on the dip when it dropped to $9,300 a few days ago, you'd still be pretty happy right now.

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Anyone who doesn't want to actually own Bitcoin can now invest in Bitcoin futures through TD Ameritrade and many other established brokerages.  Wall Streets has taken notice and despite bashing Bitcoin want to get into the game.  This isn't necessarily a good thing though.  I'm not going to touch this with a 10 foot poll because then I'll be way over-exposed if something goes wrong, but for those who haven't bought Bitcoin yet it's a decent option.

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Bitcoin has shot well past $15,000. This is nuts. I have no idea what to do at this point. I'd probably be stupid to start selling and more stupid not to.

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srossi wrote: Bitcoin has shot well past $15,000. This is nuts. I have no idea what to do at this point. I'd probably be stupid to start selling and more stupid not to.
What did you get in at?

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brodiescomics wrote: srossi wrote: Bitcoin has shot well past $15,000. This is nuts. I have no idea what to do at this point. I'd probably be stupid to start selling and more stupid not to.
What did you get in at?

Just under $2,300 in May when I was on paternity leave and took the time to really research it.  I put in a fairly modest amount of money, far from peanuts but nothing that I would kill myself if I lost.  And now I have taken that modest investment and watched it grow, in 7 months, to about 80% of the life savings that I had accumulated in my money market account (with the caveat that I just bought a house 3 years ago with a large down payment so my life savings had been depleted substantially from that, but still).

It just cracked $16,000.  It's reached its last few milestones in hours instead of days.

Last edited on Thu Dec 7th, 2017 08:54 pm by srossi

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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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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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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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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 11:50 pm by srossi

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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 11:51 pm by Ultimark

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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 11:57 pm by 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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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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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 Fri Dec 8th, 2017 02:52 am by srossi

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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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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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Tulips.

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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 08:19 pm by srossi

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Litecoin seems to be up and up on the way

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Litecoin seems to be up and up on the way

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krazykid18 wrote: Litecoin seems to be up and up on the way
Yeah, another good one.  It was between that and Ethereum and I picked Ethereum.  Either way I would've made money, but Litecoin is really picking up steam now.  I think it was $50 when I first saw it, now it's about to hit $300.  I bought Ethereum at $225 or so, now it's about to hit $600.  They're all going crazy with no end in sight.  It's like printing money for anyone who got in.  It was almost impossible to pick a bad altcoin.

Last edited on Tue Dec 12th, 2017 10:18 pm by srossi

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I have a question....
Lets say you have a million dollars worth in bitcoins. How would you cash that in?

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Benlen wrote: I have a question....
Lets say you have a million dollars worth in bitcoins. How would you cash that in?

The same way you bought it.  An online exchange these days.  It's as easy as selling stock, and you can transfer the cash directly to your bank account if you set up your account that way.  Although with that large amount of money, you might not be able to move it all at once, depending on the exchange.  I think the one I use has a $250,000 limit per day, so it would take you 4 days, and then maybe another 3 days each for the transactions to clear your bank.  But you'd still be able to sell Bitcoin for cash and have the cash waiting in your exchange.

One of the biggest misconceptions about Bitcoin, other than the fact that you can only use it to buy drugs, seems to be that it's not really worth anything because it's impossible to get cash for it.  My Facebook is filled with these asinine types of comments.  I have no idea where people are getting this from, other than the fact that they have no idea what they're talking about and are already jealous that they missed the boat so they don't want to learn now.  I see a thousand comments like "You don't really have x amount of dollars worth because you can never sell it for that."  I can, and have, sold it for cash within minutes, and that was selling Potcoin for Bitcoin and then selling Bitcoin for USD, so there was even an extra step involved that required me to use 2 different exchanges (I have never touched my initial investment in Bitcoin yet).  I still had no issue whatsoever.  That money was in my bank account within 3 days and was used to purchase a new desktop later that week.  Potcoin to Bitcoin to cash to an actual product within a week, no problem.  Yet, I've been told this is impossible and it's not "real money".  If these people spent half as much time doing research as shitting on things they don't understand online, maybe they'd get somewhere in life.   

Last edited on Wed Dec 13th, 2017 07:49 pm by srossi

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The futures market seems to have created some short-term stability, which I like.  Bitcoin has been dicking around between $15,500 - $17,000 for a few days now.  I wouldn't mind if this continued for the rest of the year at all.  If it stays within that range, I'll have a very Merry Christmas and won't have to worry about checking the price obsessively and finding a laptop to frantically plug into at a moment's notice while on vacation. 

In the meantime, Ethereum and Litecoin and making their big moves. I have a lot less money in Ethereum and I think it still has tons of room for growth, so I'll just hold onto that and if it plummets then so be it. 

Last edited on Thu Dec 14th, 2017 02:26 am by srossi

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Potcoin has released their mission statement and "Vision Board" for 2018:

http://www.potcoin.com/2017/12/13/potcoin-2018-vision-board?ref=email&utm_source=newsletter&utm_medium=email&utm_campaign=important_update_potcoin_releases_2018_vision_board&utm_term=2017-12-14

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Srossi,

i am finally on gemini but you can only trade Etherium and Bitcoin can you touch the altcoins or i need to sign up to coinbase

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krazykid18 wrote: Srossi,

i am finally on gemini but you can only trade Etherium and Bitcoin can you touch the altcoins or i need to sign up to coinbase

Gemini is only for BTC and ETH. For other coins I use Bittrex. I don’t know much about Coinbase but it’s another popular one. 

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Bitcoin Price Drops 22% in Four Days As Infighting Goes Public

From a Sunday high of nearly $20,000 per digital coin, Bitcoin dropped more than 22% to a price as low as $15,262 on Thursday afternoon. Some see the drop as fallout from long-unresolved problems with Bitcoin’s infrastructure, and the increasingly intense civil war it has produced in the cryptocurrency community.

http://fortune.com/2017/12/21/bitcoin-price-drops-infighting/

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Price of bitcoin now at $12,130. Nothing goes up in a straight line like that without a big correction eventually. Don't know enough about the topic to know where it goes from here. That is why I stayed out.

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brodiescomics wrote: Bitcoin Price Drops 22% in Four Days As Infighting Goes Public

From a Sunday high of nearly $20,000 per digital coin, Bitcoin dropped more than 22% to a price as low as $15,262 on Thursday afternoon. Some see the drop as fallout from long-unresolved problems with Bitcoin’s infrastructure, and the increasingly intense civil war it has produced in the cryptocurrency community.

http://fortune.com/2017/12/21/bitcoin-price-drops-infighting/

It has nothing to do with that.  There's been Bitcoin in-fighting forever.  If that didn't cause the price to drop off the face of the earth during the last 2 splits to Bitcoin Cash and Bitcoin Gold then nothing will. 

It's Wall Street shorting Bitcoin now that it's being traded on the futures market.  And then once the price dropped a little bit, that shook out all the newbies from the past 2 months, which exacerbated the problem.  And of course you combine all of that with a legitimate market correction because it never should've doubled in a month anyway. 

I think $10,000-$12,000 is an excellent buying opportunity and after this is over we'll see some semblance of stability and a real market price.  I sold a bunch as it was plummeting at around $15,000 and then bought more this morning at $12,000. 

As Bitcoin drops so does every other crypto, so this is a great chance to get back in on Ethereum, Litecoin, Potcoin, or whatever else you missed the boat on the first time.       

Last edited on Fri Dec 22nd, 2017 08:42 pm by srossi

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Bitcoin went back to $17,000 today, so those responsible for driving the price down didn't succeed for long. The shorts have to getting nervous.

In the meantime, Ethereum cracked the $1,000 mark for the first time a few days ago and has been hovering around it ever since.

I also got into the Bitcoin alternative Ripple, which is controlled by the banksters, at 77 cents and now it's $2.50.

Last edited on Fri Jan 5th, 2018 11:24 pm by srossi

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Does anyone know anything about Ripple or IOTA?

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freebirdsforever2001 wrote: Does anyone know anything about Ripple or IOTA?
I bought Ripple at 77 cents and it’s mostly up. It was in the news today because they signed a deal with MoneyGram. Ripple is centralized though and looked down upon in the crypto community. It’s called a “banker coin” with the conspiracy theory being that the bankers want you to pay them your Bitcoin to buy Ripple so they can get more Bitcoin off the market. 

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srossi wrote: freebirdsforever2001 wrote: Does anyone know anything about Ripple or IOTA?
I bought Ripple at 77 cents and it’s mostly up. It was in the news today because they signed a deal with MoneyGram. Ripple is centralized though and looked down upon in the crypto community. It’s called a “banker coin” with the conspiracy theory being that the bankers want you to pay them your Bitcoin to buy Ripple so they can get more Bitcoin off the market. 

Is it any good or is it crypto version of penny stocks?

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freebirdsforever2001 wrote: srossi wrote: freebirdsforever2001 wrote: Does anyone know anything about Ripple or IOTA?
I bought Ripple at 77 cents and it’s mostly up. It was in the news today because they signed a deal with MoneyGram. Ripple is centralized though and looked down upon in the crypto community. It’s called a “banker coin” with the conspiracy theory being that the bankers want you to pay them your Bitcoin to buy Ripple so they can get more Bitcoin off the market. 

Is it any good or is it crypto version of penny stocks?

It’s got a lot of hype and some major players backing it. Whether or not it’s “good” depends on whether it goes up and your guess is as good as mine. I wouldn’t have bought it if I didn’t think it would do OK. At one point I was up more than 300% on it but then it dropped a bit and now I’m only at around doubled up.  

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All cryptos are in freefall right now.  Bitcoin has plummeted under $10,000 and everything else is doing just as bad.  If you just bought in, you're taking a bath.  I'm waiting out the storm and hoping for the best. 

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I saw recently that hundreds of new currencies have been created. Not a good sign obviously. Thinking there will be a few survivors but they will be regulated. The days of anonymous investing may be coming to an end.

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South Korea is pushing back on Bitcoin and that's a stronghold for them, and you still have the futures market shaking things out.  I don't think it's price will collapse at all, but I think it will be valued more realistically and be less volatile. You also have a ton of newbies (maybe the majority of investors at this point) who don't know what they're doing and get scared away easily, so that doesn't help.   

As far as the other coins, I knew it had jumped the shark when a Trumpcoin was introduced and shot up to 47 cents from like 1 cent.  90%+ of these coins are going to zero.  There's still money to be made if you invest in the right coins though, but the days of picking one randomly and still making 50% on your investment are over, as it should be.  Even the legit coins like Ethereum and Ripple are just getting killed right now though, so again I'm just waiting out the storm. 

Last edited on Wed Jan 17th, 2018 09:20 pm by srossi

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I should have known this was coming. My brother who knows zero about pretty much anything called me last week and wanted to invest in Ethereum because the guy that works next to him at the Post Office is getting rich off of it. I told him that you are the guy who remains poor and should stay away.

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I've noticed that video cards for computers are sold out everywhere as people think they're going to be able to mine these currencies.

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LAF wrote: I've noticed that video cards for computers are sold out everywhere as people think they're going to be able to mine these currencies.
Mining hasn't been a way for the average person to make money in a few years now, so that's dumb.  Unless you steal electricity from a neighbor or business (and for a while some people did manage to do this at work on the sly), your electric bill will easily surpass any amount of crypto you're mining.

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srossi wrote: LAF wrote: I've noticed that video cards for computers are sold out everywhere as people think they're going to be able to mine these currencies.
Mining hasn't been a way for the average person to make money in a few years now, so that's dumb.  Unless you steal electricity from a neighbor or business (and for a while some people did manage to do this at work on the sly), your electric bill will easily surpass any amount of crypto you're mining.

If your electric bill shoots up, you're going to get a visit from the police too because they'll assume you are growing weed.

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Srossi,

For those cheap coins like verge and other shit what can i use i signed up for gemini and after 2 weeks they finally let me thru but the bloodletting happen so i fell back

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krazykid18 wrote: Srossi,

For those cheap coins like verge and other shit what can i use i signed up for gemini and after 2 weeks they finally let me thru but the bloodletting happen so i fell back

I use Bittrex for some of the cheaper coins like Ripple, Golem, and Potcoin.  I imagine they have Verge too.  Coinbase is a popular platform that might have the cheaper coins too, but I can only speak for Gemini and Bittrex since those are the two I have accounts with. 

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I heard sweatcoin is where it’s at

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Bitcoin is having its worst week since 2013. Under $9,000 now and dragging most of the other altcoins down with it.

Last edited on Fri Feb 2nd, 2018 07:56 pm by srossi

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srossi wrote: Bitcoin is having its worst week since 2013. Under $9,000 now and dragging most of the other altcoins down with it.

Yeah it dropped like crazy 

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No one really knows how to price it. These things were intended to be used for currency - to pay for shit, not as a way to get rich quick. There is zero intrinsic value to any of these currencies. That doesn't mean that a few are not viable as alternate currencies. I think they are but I just am not buying all of this as a long term investment. If anyone has made really good money investing, I would suggest getting the Hell out now.
edit - I should actually say the intrinsic value is unknown.  It isn't zero obviously. 

Last edited on Fri Feb 2nd, 2018 09:42 pm by Ultimark

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Pretty rough day for Wall Street as well. People got ahead of themselves.

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I am happy to finally see a downtown. It was getting ahead of itself. Nothing wrong with a bear market. It creates opportunity. Hopefully the trend down continues.

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Bitcoin is in freefall below $7,000 now, but it's important to remember that it just hit a level that it last passed (on the way up) in mid-November, just 2 1/2 months ago.  I think $10,000 is a pretty fair value so there's still a buying opportunity there.  But anyone who just bought at the end of last year is getting wiped out.  I'd strongly advise against panic selling.  I sold a little close to its peak to lock in some gains and I'm still up a lot from when I bought it at $2,500, so I'm just trying to ride out the storm. 

Last edited on Tue Feb 6th, 2018 01:13 am by srossi

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srossi wrote: Bitcoin is in freefall below $7,000 now, but it's important to remember that it just hit a level that it last passed (on the way up) in mid-November, just 2 1/2 months ago.  I think $10,000 is a pretty fair value so there's still a buying opportunity there.  But anyone who just bought at the end of last year is getting wiped out.  I'd strongly advise against panic selling.  I sold a little close to its peak to lock in some gains and I'm still up a lot from when I bought it at $2,500, so I'm just trying to ride out the storm.
Far be it for me to give financial advice...but I'm hoping that when it hit $9500 or so that you sold enough to cover your original investment, making everything you now own full gravy.  Because at that point, you can ride the wave and still be ok.

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Superstar wrote: srossi wrote: Bitcoin is in freefall below $7,000 now, but it's important to remember that it just hit a level that it last passed (on the way up) in mid-November, just 2 1/2 months ago.  I think $10,000 is a pretty fair value so there's still a buying opportunity there.  But anyone who just bought at the end of last year is getting wiped out.  I'd strongly advise against panic selling.  I sold a little close to its peak to lock in some gains and I'm still up a lot from when I bought it at $2,500, so I'm just trying to ride out the storm.
Far be it for me to give financial advice...but I'm hoping that when it hit $9500 or so that you sold enough to cover your original investment, making everything you now own full gravy.  Because at that point, you can ride the wave and still be ok.

$9,500 or $19,500?  It's pretty impossible to time it perfectly at the peak, but I sold some around $17,500, and I made money off of other coins too. 

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Glad you sold some near the top. Hopefully, it was most of it. My neighbor who is a Prof of Finance at Wharton (and always admits he has been wrong and will be wrong again) said he thinks all these currencies will be worth zero pretty soon.

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Ultimark wrote: Glad you sold some near the top. Hopefully, it was most of it. My neighbor who is a Prof of Finance at Wharton (and always admits he has been wrong and will be wrong again) said he thinks all these currencies will be worth zero pretty soon.
I don't believe that at all.  Governments and Wall Street don't get involved in something because it's going to zero.  They're trying to regulate the early adopters and fly-by-night speculators out of it to get it for themselves.  This is all tree shaking right now because they got terrified at how popular it was getting.  But the blockchain isn't going anywhere. 

Also with the stock market finally crashing after being way oversold for 2 years, I imagine a lot of that money is going to be shifted to crypto pretty soon.  It has to go somewhere.

Last edited on Tue Feb 6th, 2018 07:31 pm by srossi

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I don't think crypto is a safe haven trade.

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Maybe it goes back up. After studying the markets and market history for the past 3 years, I have learned that unpredictable things can happen. The best we can do is look at all the available evidence and apply history to it. In that case the crypto's are basically primed to fall big. However, maybe it is truly different this time and history doesn't apply. That can happen. IMO - I wouldn't invest a dime. I still think a couple survive but as currencies not as investments.

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I bought back into Potcoin at 9 cents. A few months ago I bought it at the same price and sold for over 30 cents, so hopefully there's a recovery and it can get back there again.

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Decent recovery over the last 2 days. Bitcoin back over $8,000, ETH over $800, the Potcoin I bought at 9 cents already at 14 cents.

Last edited on Wed Feb 7th, 2018 09:33 pm by srossi

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Price is now back over $9200. Since I mentioned the price on the way down, I should note that it has recovered in recent days.

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Ultimark wrote: Price is now back over $9200. Since I mentioned the price on the way down, I should note that it has recovered in recent days.
I really like the slow and steady progress that Bitcoin is making now.  The price has stabilized and the increases make sense, as opposed to last year when it was just crazy.  I'm hoping it can continue like this and we can get an orderly march to $15,000 by the end of the year, with a few dips along the way. 

Hindsight is always 20/20, and this was completely uncharted territory in the history of investing, but my God, if I had sold all of it at close to $19,000 and then bought back in at close to $6,000...Oh well, I'm very happy with where I am.  My gains are pretty amazing and the only stupid thing I did was panic-sell some Ethereum a few weeks ago when it was close to the bottom, which I immediately regretted and knew better even as I was doing it.  But that mistake was chump change compared to how much I have invested total.

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Bitcoin is a bout to hit $10,000 again, so it'll be interesting to see how it holds up at that level.  And Ethereum is about to reach $1,000 again as those two coins move exactly the same lately.

Last edited on Thu Feb 15th, 2018 08:34 pm by srossi

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I have no idea why but Potcoin doubled over night. Holy shit. Hope those that were interested actually bought it and held.

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So Bitcoin has exploded past $10,000, and then $12,000 again.  Ethereum is back to $350.  And all of this is with little of the hype that it received last time, which is exciting because it's mostly an expanding group of diehards and the casual investors and johnny-come-latelys aren't involved as much right now.  I think we'll see close to $20,000 again before another pullback, I might sell half my position at $15,000 or so. 

I got in the first time at $2,500 and then sold much of my position near it's peak, then got back in around $7,000 and am going for the ride again.  The only think that I got killed on was some of the smaller altcoins.  Those seem dead, many going to zero.  I wish I hadn't wasted time, energy, and money on those since it was also a hassle to find platforms that would trade in them.  But I lost a few hundred on those and gained well into the 6 figures on BTC and ETH, so I think I'd say this was all worth it. This is real money, cold hard USD cash deposited into my accounts when I sold, so the fact that I still see so many comments online about how it's fake makes me laugh. 

Last edited on Wed Jun 26th, 2019 03:19 pm by srossi

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srossi wrote: So Bitcoin has exploded past $10,000, and then $12,000 again.  Ethereum is back to $350.  And all of this is with little of the hype that it received last time, which is exciting because it's mostly an expanding group of diehards and the casual investors and johnny-come-latelys aren't involved as much right now.  I think we'll see close to $20,000 again before another pullback, I might sell half my position at $15,000 or so. 

I got in the first time at $2,500 and then sold much of my position near it's peak, then got back in around $7,000 and am going for the ride again.  The only think that I got killed on was some of the smaller altcoins.  Those seem dead, many going to zero.  I wish I hadn't wasted time, energy, and money on those since it was also a hassle to find platforms that would trade in them.  But I lost a few hundred on those and gained well into the 6 figures on BTC and ETH, so I think I'd say this was all worth it. This is real money, cold hard USD cash deposited into my accounts when I sold, so the fact that I still see so many comments online about how it's fake makes me laugh. 

I don't want to get in to your personal business  but how much did you invest initially i remember you said you took your 401k out and put it all on bitcoins 
So should i get involved at this money they are saying it will hit 40k

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krazykid18 wrote: srossi wrote: So Bitcoin has exploded past $10,000, and then $12,000 again.  Ethereum is back to $350.  And all of this is with little of the hype that it received last time, which is exciting because it's mostly an expanding group of diehards and the casual investors and johnny-come-latelys aren't involved as much right now.  I think we'll see close to $20,000 again before another pullback, I might sell half my position at $15,000 or so. 

I got in the first time at $2,500 and then sold much of my position near it's peak, then got back in around $7,000 and am going for the ride again.  The only think that I got killed on was some of the smaller altcoins.  Those seem dead, many going to zero.  I wish I hadn't wasted time, energy, and money on those since it was also a hassle to find platforms that would trade in them.  But I lost a few hundred on those and gained well into the 6 figures on BTC and ETH, so I think I'd say this was all worth it. This is real money, cold hard USD cash deposited into my accounts when I sold, so the fact that I still see so many comments online about how it's fake makes me laugh. 

I don't want to get in to your personal business  but how much did you invest initially i remember you said you took your 401k out and put it all on bitcoins 
So should i get involved at this money they are saying it will hit 40k

No, I never said that.  I would never recommend that anyone put their retirement into any investment, or withdraw their 401(k) early for any reason period.  Only invest what you can afford to lose.  If you have a few thousand dollars laying around, then hell yeah, I'd say get in, although whether or not you want to wait until it drops again or not is up to you, it's not like I can predict where it's going.  But obviously any investment is a risk. 

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I think it was Ultimark’s friend who put his 401(k) into ETH, and then lost it all. Could be wrong.

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It's a bloodbath out there today with Bitcoin dropping below $11,000 and ETH below $300 again. For anyone looking for an entry point...

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Srossi should i dropped a G in ripple.

i really don't need the thousand but i am looking at if ripple ever goes up to 5 dollars i can make a killing..

What do you think

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krazykid18 wrote: Srossi should i dropped a G in ripple.

i really don't need the thousand but i am looking at if ripple ever goes up to 5 dollars i can make a killing..

What do you think

Ripple is dead. Put it in Bitcoin. Just because it’s a lot more expensive doesn’t mean you can’t still make lots of money off of a $1,000 investment. 

Last edited on Tue Jul 9th, 2019 11:00 pm by srossi

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srossi wrote: krazykid18 wrote: Srossi should i dropped a G in ripple.

i really don't need the thousand but i am looking at if ripple ever goes up to 5 dollars i can make a killing..

What do you think

Ripple is dead. Put it in Bitcoin. Just because it’s a lot more expensive doesn’t mean you can’t still make lots of money off of a $1,000 investment. 

Thanks i will have to do that but damn bitcoin is high right now but i understand what you are saying

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Trump rage-tweets about Bitcoin. LOL. This guy is a fucking moron about everything, and such a liberal with his regulation rhetoric. 

Attachment: A54DD5AF-70EA-4964-A96C-7652F830B091.jpeg (Downloaded 57 times)

Last edited on Fri Jul 12th, 2019 02:33 am by srossi

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This was clearly not worded by Trump, so the important question is whose word these are

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indikator wrote: This was clearly not worded by Trump, so the important question is whose word these are

Whoever the last person be spoke to was.

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Kriss wrote: indikator wrote: This was clearly not worded by Trump, so the important question is whose word these are

Whoever the last person be spoke to was.

More likely Fox News ran a piece on Bitcoin investors making millions and Trump got jealous that they were richer than him, so he asked a crony how to spell "cryptocurrency" and then started furiously typing during his morning dump.  This is not a joke, I believe it is a very likely scenario.

Last edited on Fri Jul 12th, 2019 02:18 pm by srossi

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srossi wrote: Kriss wrote: indikator wrote: This was clearly not worded by Trump, so the important question is whose word these are

Whoever the last person be spoke to was.

More likely Fox News ran a piece on Bitcoin investors making millions and Trump got jealous that they were richer than him, so he asked a crony how to spell "cryptocurrency" and then started furiously typing during his morning dump.  This is not a joke, I believe it is a very likely scenario.


He probably asked the Treasury department if he could use Bitcoin to build the wall.

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So here's the narrative from the Trumpster sheep, most of whom hate the Fed and support Bitcoin.  You see, Trump is a genius once again using reverse psychology to be 5 steps ahead of everyone else.  He knows that anything he hates will be pushed hard by the liberal media, thus his comments will actually propel Bitcoin to even greater heights.  And Trump hates regulation and would never add any, but by saying he will he is hoping that the Democrats in Congress who actually have the power to implement these regulations will decide not to.  They absolutely believe this.

Last edited on Fri Jul 12th, 2019 06:30 pm by srossi

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srossi wrote: So here's the narrative from the Trumpster sheep, most of whom hate the Fed and support Bitcoin.  You see, Trump is a genius once again using reverse psychology to be 5 steps ahead of everyone else.  He knows that anything he hates will be pushed hard by the liberal media, thus his comments will actually propel Bitcoin to even greater heights.  And Trump hates regulation and would never add any, but by saying he will he is hoping that the Democrats in Congress who actually have the power to implement these regulations will decide not to.  They absolutely believe this.I tend to agree with you - him tweeting about how he hates Bitcoin is just going to make people buy it.  I wish he'd tweet about what scumbags Canopy Growth are because I've been getting killed this past week......

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krazykid18 wrote: srossi wrote: krazykid18 wrote: Srossi should i dropped a G in ripple.

i really don't need the thousand but i am looking at if ripple ever goes up to 5 dollars i can make a killing..

What do you think

Ripple is dead. Put it in Bitcoin. Just because it’s a lot more expensive doesn’t mean you can’t still make lots of money off of a $1,000 investment. 

Thanks i will have to do that but damn bitcoin is high right now but i understand what you are saying


Crypto has been hammered since this post.  ETH has plummeted to like $220 so I'm going to put a few hundred more in that.  Bitcoin is still over $10,000 but this is looking like a good buying opportunity there too.  The next bounce might take it to around $14,000, not that these things are ever that predictable. 

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My crypto exchange Gemini now has a referral program. If anyone wants my referral code, please PM me and give me your e-mail. You only need to invest $100 within 30 days and then you'll get $10. You can trade Bitcoin, Ethereum, and several of the other major cryptos using Gemini.  This is the platform founded by the Winklevoss Twins of Facebook fame and it's very reputable.

Last edited on Mon Aug 26th, 2019 07:38 pm by srossi

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srossi wrote: My crypto exchange Gemini now has a referral program. If anyone wants my referral code, please PM me and give me your e-mail. You only need to invest $100 within 30 days and then you'll get $10. You can trade Bitcoin, Ethereum, and several of the other major cryptos using Gemini.How are they doing since your last report?  You were talking about a good entry point in July when BTC And ETH were dropping, and while I know that i can look it up, I'd rather hear your spin on it.  You've been pretty solid with the crypto advice so far.

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Superstar wrote: srossi wrote: My crypto exchange Gemini now has a referral program. If anyone wants my referral code, please PM me and give me your e-mail. You only need to invest $100 within 30 days and then you'll get $10. You can trade Bitcoin, Ethereum, and several of the other major cryptos using Gemini.How are they doing since your last report?  You were talking about a good entry point in July when BTC And ETH were dropping, and while I know that i can look it up, I'd rather hear your spin on it.  You've been pretty solid with the crypto advice so far.

Mostly dicking around.  BTC is hovering just over $10,000 still.  Not a lot of movement either way.  Stability isn't a bad thing though. 

ETH kept dropping to just below $200, then stabilized and hasn't done anything for weeks.

Last edited on Mon Aug 26th, 2019 07:51 pm by srossi

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The president of China made some comments about accelerating blockchain adaptation today and Bitcoin exploded about $2,000 back to $9,600. The last $1,000 basically happened in the last hour.

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I've been buying and selling between $7,500 and $9,500 with a lot of success, but yesterday I bought back in at $7,600 and today the price plummeted to $6,800 on more China crackdown news. Just goes to show that you can't always try to time the market. It'll bounce back soon, I just wish I had waited 1 more fucking day to buy.

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srossi wrote: I've been buying and selling between $7,500 and $9,500 with a lot of success, but yesterday I bought back in at $7,600 and today the price plummeted to $6,800 on more China crackdown news. Just goes to show that you can't always try to time the market. It'll bounce back soon, I just wish I had waited 1 more fucking day to buy.
do you think it will dip lower than 6,000

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krazykid18 wrote: srossi wrote: I've been buying and selling between $7,500 and $9,500 with a lot of success, but yesterday I bought back in at $7,600 and today the price plummeted to $6,800 on more China crackdown news. Just goes to show that you can't always try to time the market. It'll bounce back soon, I just wish I had waited 1 more fucking day to buy.
do you think it will dip lower than 6,000

Who knows?  It's back at $7,000 now already.  I'd say don't try to time it too precisely and just jump in when it reaches a number you're comfortable with.  It'll probably be back over $9,000 within the next couple of months.  Then sell, and wait for the drop again.  That's been the pattern this year, although the pattern could always change.

Last edited on Fri Nov 22nd, 2019 02:58 pm by srossi

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srossi wrote: krazykid18 wrote: srossi wrote: I've been buying and selling between $7,500 and $9,500 with a lot of success, but yesterday I bought back in at $7,600 and today the price plummeted to $6,800 on more China crackdown news. Just goes to show that you can't always try to time the market. It'll bounce back soon, I just wish I had waited 1 more fucking day to buy.
do you think it will dip lower than 6,000

Who knows?  It's back at $7,000 now already.  I'd say don't try to time it too precisely and just jump in when it reaches a number you're comfortable with.  It'll probably be back over $9,000 within the next couple of months.  Then sell, and wait for the drop again.  That's been the pattern this year, although the pattern could always change.


Very true, good advice 

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My brother keeps buying Etherum after it bounces and then sells near the bottom. He has lost $50K on trades now. It is amazing that he actually admits it to me. He cannot see it is his behavior that is killing him. Blaming everyone else.

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Ultimark wrote: My brother keeps buying Etherum after it bounces and then sells near the bottom. He has lost $50K on trades now. It is amazing that he actually admits it to me. He cannot see it is his behavior that is killing him. Blaming everyone else.

Why is he trading and losing 50k WTF

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krazykid18 wrote: Ultimark wrote: My brother keeps buying Etherum after it bounces and then sells near the bottom. He has lost $50K on trades now. It is amazing that he actually admits it to me. He cannot see it is his behavior that is killing him. Blaming everyone else.

Why is he trading and losing 50k WTF
His first trade, he was in over at over a thousand.  I think it was Feb of of 18 although my memory might be foggy.  Then, months later he sold around $100.  At almost every bounce, he has bought only to see if slide back again.   Of course, he sells then.  What makes this even worse is that he the money for the original trade from an inherited IRA.  He had to pay taxes on all of that.  He tried to claim I didn't tell him that.  I saved the 5 texts where I told him that and I told him to not get involved with alt currencies. 

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Ultimark wrote: krazykid18 wrote: Ultimark wrote: My brother keeps buying Etherum after it bounces and then sells near the bottom. He has lost $50K on trades now. It is amazing that he actually admits it to me. He cannot see it is his behavior that is killing him. Blaming everyone else.

Why is he trading and losing 50k WTF
His first trade, he was in over at over a thousand.  I think it was Feb of of 18 although my memory might be foggy.  Then, months later he sold around $100.  At almost every bounce, he has bought only to see if slide back again.   Of course, he sells then.  What makes this even worse is that he the money for the original trade from an inherited IRA.  He had to pay taxes on all of that.  He tried to claim I didn't tell him that.  I saved the 5 texts where I told him that and I told him to not get involved with alt currencies. 

Buy high, sell low.  Unique strategy.  If he reversed those buys and sells he'd be in the money.

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srossi wrote: Ultimark wrote: krazykid18 wrote: Ultimark wrote: My brother keeps buying Etherum after it bounces and then sells near the bottom. He has lost $50K on trades now. It is amazing that he actually admits it to me. He cannot see it is his behavior that is killing him. Blaming everyone else.

Why is he trading and losing 50k WTF
His first trade, he was in over at over a thousand.  I think it was Feb of of 18 although my memory might be foggy.  Then, months later he sold around $100.  At almost every bounce, he has bought only to see if slide back again.   Of course, he sells then.  What makes this even worse is that he the money for the original trade from an inherited IRA.  He had to pay taxes on all of that.  He tried to claim I didn't tell him that.  I saved the 5 texts where I told him that and I told him to not get involved with alt currencies. 

Buy high, sell low.  Unique strategy.  If he reversed those buys and sells he'd be in the money.

Right wtf, i would wait and just pray to whatever spiritual human being it will reverse since it is a little unpredictable 

Last edited on Fri Nov 22nd, 2019 06:03 pm by krazykid18

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He is the guy that should be happy with contribs to his 401(k) every 2 weeks.  He had a next door neighbor who made a shit ton in Etherum.  He was jealous.



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