Do You BitCoin?

[Doc]

Doge hit an all-time high this AM. 

[DrDawkinstein]

13 hours ago, Turf Toejam 34 said:

Really trying to understand this......I live in a pretty urban area and was trying to figure out whether the cost of the unit could get paid back.

 

At $300-400 for the devices, most folks have been able to recoup their cost pretty quickly (like days or weeks, not months or years). I'm fine with the $400 risk. It's the lowest entry amount into any investment I've risked so far.  🤣 Even if it becomes some relic in my attic

[DrDawkinstein]

Watching the price today...

 

Guess at least we can say it's a good day to buy in? 😳

[TBBills]

Under 50k again.

[NoHuddleKelly12]

[BillsShredder83]

Think were going to level out at current price, drop a good amount Friday with expiration of futures, AND BOOM FOR A FEW MOS!  Parabolic by July

[TBBills]

Glad it is above 50k b.c I bought in around 51k and wasn't expecting it to go under like it did.

[BillsShredder83]

13 minutes ago, TBBills said:

Glad it is above 50k b.c I bought in around 51k and wasn't expecting it to go under like it did.

yeah itll be alright! great read is The Bitcoin Standard if youre interested.  Very thorough look at inflation, and why government $ sucks, and how BTC has already started, and will finish passing gold as the best hold of value in the world.  If youre not all in now, you will be after the book. Great read! Author graduated from Columbia U, and is a professor of economics

[Doc]

On 4/26/2021 at 2:46 PM, BillsShredder83 said:

Think were going to level out at current price, drop a good amount Friday with expiration of futures, AND BOOM FOR A FEW MOS!  Parabolic by July

When are the futures set to expire today?

[DrDawkinstein]

On 4/26/2021 at 3:04 PM, TBBills said:

Glad it is above 50k b.c I bought in around 51k and wasn't expecting it to go under like it did.

 

Give it a year, you'll be fine.

[TBBills]

6 hours ago, DrDawkinstein said:

 

Give it a year, you'll be fine.

I buy and sell with the waves.

[Jauronimo]

On 4/26/2021 at 2:04 PM, TBBills said:

Glad it is above 50k b.c I bought in around 51k and wasn't expecting it to go under like it did.

You didn't expect the most volatile asset in the world that is on a 12 month run of  +555% to ever dip below $51k?  The last time BTC went on a run like this it went from $1,000 to $20k and a year later could be bought for $3,300.  

 

6 hours ago, DrDawkinstein said:

 

Give it a year, you'll be fine.

Is there any reason to believe the crypto cycle which we have seen 3 times before will not repeat itself again with an 80% retrace?  Maybe give it 5 years.

[DrDawkinstein]

51 minutes ago, Jauronimo said:

You didn't expect the most volatile asset in the world that is on a 12 month run of  +555% to ever dip below $51k?  The last time BTC went on a run like this it went from $1,000 to $20k and a year later could be bought for $3,300.  

 

Is there any reason to believe the crypto cycle which we have seen 3 times before will not repeat itself again with an 80% retrace?  Maybe give it 5 years.

 

Maybe. Probably. My time frame wasnt the point. The point was to be patient and ride it out.

[TBBills]

1 hour ago, Jauronimo said:

You didn't expect the most volatile asset in the world that is on a 12 month run of  +555% to ever dip below $51k?  The last time BTC went on a run like this it went from $1,000 to $20k and a year later could be bought for $3,300.  

 

Is there any reason to believe the crypto cycle which we have seen 3 times before will not repeat itself again with an 80% retrace?  Maybe give it 5 years.

I think you aren't exactly understanding what I was talking about.

[BillsShredder83]

8 hours ago, Doc said:

When are the futures set to expire today?

Yeah it was set to Londons time, whatever that was, was 11a here. I really think we consolidated well, shook off alot of leveraged short terriers. Was hoping fb would announce they had some during their quarterly news yesterday. This thing feels like it's waiting for any news to engage liftoff 🤞

[Jauronimo]

18 hours ago, TBBills said:

I think you aren't exactly understanding what I was talking about.

You were surprised the market price of Bitcoin fell below your cost basis because crypto goes up.  Not much to understand there but if you feel there was some kind of salient point that flew over my head then by all means, enlighten me.

[TBBills]

2 hours ago, Jauronimo said:

You were surprised the market price of Bitcoin fell below your cost basis because crypto goes up.  Not much to understand there but if you feel there was some kind of salient point that flew over my head then by all means, enlighten me.

You obviously don't follow it enough to understand what I was talking about. Just don't worry about it, doesn't concern people like you.

[Poleshifter]

If any of you are invested in Bitcoin, you would do well to sell it now, get out of Bitcoin completely.

 

Very soon, Bitcoin will be worth ZERO. 

 

If you want to swap Bitcoin for other assets, get XLM or XRP.

 

XRP is not currently available in the US, but Canadians may still be able to get it. 

 

These "X" coins are backed by precious metals, where Bitcoin is backed by nothing.

[Punching Bag]

Add for crypto I found interesting on site I visit although I have no interest at all in any type of crypto monopoly money.

 

[Doc]

4 hours ago, Poleshifter said:

If any of you are invested in Bitcoin, you would do well to sell it now, get out of Bitcoin completely.

 

Very soon, Bitcoin will be worth ZERO. 

 

If you want to swap Bitcoin for other assets, get XLM or XRP.

 

XRP is not currently available in the US, but Canadians may still be able to get it. 

 

These "X" coins are backed by precious metals, where Bitcoin is backed by nothing.

 

I have those.  But completely disagree on BTC.

[BillsShredder83]

6 hours ago, Poleshifter said:

If any of you are invested in Bitcoin, you would do well to sell it now, get out of Bitcoin completely.

 

Very soon, Bitcoin will be worth ZERO. 

 

If you want to swap Bitcoin for other assets, get XLM or XRP.

 

XRP is not currently available in the US, but Canadians may still be able to get it. 

 

These "X" coins are backed by precious metals, where Bitcoin is backed by nothing.

should i sell my car for horses too?

6 hours ago, Poleshifter said:

If any of you are invested in Bitcoin, you would do well to sell it now, get out of Bitcoin completely.

 

Very soon, Bitcoin will be worth ZERO. 

 

If you want to swap Bitcoin for other assets, get XLM or XRP.

 

XRP is not currently available in the US, but Canadians may still be able to get it. 

 

These "X" coins are backed by precious metals, where Bitcoin is backed by nothing.

let me ask you this.... how much time have you spent learning about it?  any?

[Fan in San Diego]

I don't invest in things I don't understand. This will go the way of the Tulip Bulb frenzy in the 1500's or whatever ancient century it was.

[DrDawkinstein]

6 hours ago, Poleshifter said:

If any of you are invested in Bitcoin, you would do well to sell it now, get out of Bitcoin completely.

 

Very soon, Bitcoin will be worth ZERO. 

 

If you want to swap Bitcoin for other assets, get XLM or XRP.

 

XRP is not currently available in the US, but Canadians may still be able to get it. 

 

These "X" coins are backed by precious metals, where Bitcoin is backed by nothing.

 

A year or more ago, I would have agreed with you. But now too many big/REAL players have invested heavily into it. Not just Musk and his personal money. But banks and corporations.

[BillsShredder83]

2 minutes ago, Fan in San Diego said:

I don't invest in things I don't understand. This will go the way of the Tulip Bulb frenzy in the 1500's or whatever ancient century it was.

take some time to learn about it.  its only the single most valuable, inflation proof asset thats ever been made.  if you read, and im wrong, you lost some time reading.... if you invest some time into learning, and see what me and millions of others see, you can join the most sound money and become  pretty wealthy in the process.  in all seriousness i can point you towards two solid resources that will help you understand it.  adoptions happening one way or another, why not put some time into it for a chance to be ahead of the curve

[DrDawkinstein]

3 minutes ago, BillsShredder83 said:

take some time to learn about it.  its only the single most valuable, inflation proof asset thats ever been made.  if you read, and im wrong, you lost some time reading.... if you invest some time into learning, and see what me and millions of others see, you can join the most sound money and become  pretty wealthy in the process.  in all seriousness i can point you towards two solid resources that will help you understand it.  adoptions happening one way or another, why not put some time into it for a chance to be ahead of the curve

 

While I'm not averse to BTC/Crypto, I think this is a little too "loving" of a summary.

 

It can be called inflation-proof, but it (BTC or any crypto coin really) can be easily manipulated by a few anonymous, foreign, SHADY entities. If anyone doesnt think a huge portion of the BTC market isnt held and controlled by Chinese and Russian criminals, then they are fooling themselves.

 

The biggest issue facing BTC isnt normal economic stuff. It's when the hammer drops on its use in laundering tons of cash for foreign enemies.

[Fan in San Diego]

2 minutes ago, DrDawkinstein said:

 

While I'm not averse to BTC/Crypto, I think this is a little too "loving" of a summary.

 

It can be called inflation-proof, but it (BTC or any crypto coin really) can be easily manipulated by a few anonymous, foreign, SHADY entities. If anyone doesnt think a huge portion of the BTC market isnt held and controlled by Chinese and Russian criminals, then they are fooling themselves.

 

The biggest issue facing BTC isnt normal economic stuff. It's when the hammer drops on its use in laundering tons of cash for foreign enemies.

I read some quotes from Warren Buffet and his cohort. They say this is driven by criminals basically. I'm going to pass on this one. I hear some neanderthals who barely know what day it is and what their names are. They are investing in Bitcoin and other crypto currencies, I think the cat is out of the bag if these knuckle heads are investing in it.

[DrDawkinstein]

8 minutes ago, Fan in San Diego said:

I read some quotes from Warren Buffet and his cohort. They say this is driven by criminals basically. I'm going to pass on this one. I hear some neanderthals who barely know what day it is and what their names are. They are investing in Bitcoin and other crypto currencies, I think the cat is out of the bag if these knuckle heads are investing in it.

 

Yeah, I saw those recent comments too. Those two know a lot, but they are also 90 and 97, and may be all out of "vision" for the future.

[Augie]

8 minutes ago, Fan in San Diego said:

I read some quotes from Warren Buffet and his cohort. They say this is driven by criminals basically. I'm going to pass on this one. I hear some neanderthals who barely know what day it is and what their names are. They are investing in Bitcoin and other crypto currencies, I think the cat is out of the bag if these knuckle heads are investing in it.

 

I had an old college buddy living in Boston call me out of the blue back in 2006 at the peak of the real estate bubble. He asked about buying some pre-construction condos about 45 minutes from me in Florida. I asked “do you even know where that is?” It was in the middle of nowhere on some dirt cheap land. How did he even hear about that in Boston. THAT is when I knew the end was near. 

[BillsShredder83]

6 minutes ago, Fan in San Diego said:

I read some quotes from Warren Buffet and his cohort. They say this is driven by criminals basically. I'm going to pass on this one. I hear some neanderthals who barely know what day it is and what their names are. They are investing in Bitcoin and other crypto currencies, I think the cat is out of the bag if these knuckle heads are investing in it.

Ironic coming from him and the money laundering Berk Hathaway has been caught up in laundering for the cartels.  BTC can and will be used for manipulation, but as the market cap continues to grow i think it will dampen their ability to do so.  I think well have a better idea of where were at after this bull market, at peak bear season.  We'll have to wait and see what the new low is in 18-24mths.  If it stays above 30k, the following bull cycle will have the true skeptics buying in.  Lindy effect will grow with each progressive cycle imo

[Doc]

1 hour ago, DrDawkinstein said:

A year or more ago, I would have agreed with you. But now too many big/REAL players have invested heavily into it. Not just Musk and his personal money. But banks and corporations.

 

Yup.  I've often said that I thought BTC was a joke...until I went to a Home Depot 4 years ago and they gave you an option to pay using it.  I should have gotten into it back then.

[Jauronimo]

11 minutes ago, Doc said:

 

Yup.  I've often said that I thought BTC was a joke...until I went to a Home Depot 4 years ago and they gave you an option to pay using it.  I should have gotten into it back then.

Its not a joke but BTC is still unrealistic as a currency which is why they now tout it as digital gold.  The fees to transfer BTC and time it takes to validate on the block chain are far from ideal.  

 

I was very high on ETH in 2017.  I have seen almost no development on the ETH blockchain.  No common apps on the blockchain, so far away from being "the World's Super Computer".  Other supposed Ethereum killers like ADA and EOS have done nothing over the past 4 years.  

 

Bitcoin may retain value IF companies like Tesla hold their coins and BTC remains relatively scarce.  I don't know how that lines up with responsible corporate governance.  As a TSLA investor I can say I wasn't crazy about that decision from a capital allocation standpoint and if BTC has another 80-90% retrace as its done the past few cycles then I will be further pissed off.    The biggest thing BTC has going for it is scarcity with an approximate 40% of existing coins lost forever and now large stakes owned by corporations who have the ability to hold for years.  Retail will run for the exits if it starts to slide as they do every time.

[Doc]

5 minutes ago, Jauronimo said:

Its not a joke but BTC is still unrealistic as a currency which is why they now tout it as digital gold.  The fees to transfer BTC and time it takes to validate on the block chain are far from ideal.  

 

I was very high on ETH in 2017.  I have seen almost no development on the ETH blockchain.  No common apps on the blockchain, so far away from being "the World's Super Computer".  Other supposed Ethereum killers like ADA and EOS have done nothing over the past 4 years.  

 

Bitcoin may retain value IF companies like Tesla hold their coins and BTC remains relatively scarce.  I don't know how that lines up with responsible corporate governance.  As a TSLA investor I can say I wasn't crazy about that decision from a capital allocation standpoint and if BTC has another 80-90% retrace as its done the past few cycles then I will be further pissed off.    The biggest thing BTC has going for it is scarcity with an approximate 40% of existing coins lost forever and now large stakes owned by corporations who have the ability to hold for years.  Retail will run for the exits if it starts to slide as they do every time.

 

I bought ETH a year-and-a-half ago and sold it about a year ago.  Big mistake.  It's gone up over 10X since.

 

As for BTC, I'm going to hold.  I bought at $5500 so it's got a ways to go before I'm in danger of losing my investment.  While I've heard many people say "sell now, it's going to tank!" only to start/continue climbing.

[Poleshifter]

16 hours ago, BillsShredder83 said:

let me ask you this.... how much time have you spent learning about it?  any?

It's been 8 months since I first bought crypto. Bought some XRP because it will become the standard for the Quantum Financial System (coming soon to your area!).

 

XRP is ISO 20022 compliant, which is required in the banking world. You can't say that about Bitcoin.

 

But go ahead and hang on to your Bitcoin if you think that is the best course.

18 hours ago, Doc said:

 

I have those.  But completely disagree on BTC.

I can understand where my statement is out of left field. Most people do not realize there is a new Quantum Financial System coming.

 

At least you have some XRP and XLM, so you should be golden (so to speak).

[Poleshifter]

16 hours ago, Fan in San Diego said:

I don't invest in things I don't understand. This will go the way of the Tulip Bulb frenzy in the 1500's or whatever ancient century it was.

Or you could learn to understand it, and then benefit from it.

 

My wife was furious when I bought "something you can't see", so I can understand your reluctance to look into crypto.

[Doc]

6 hours ago, Poleshifter said:

I can understand where my statement is out of left field. Most people do not realize there is a new Quantum Financial System coming.

 

At least you have some XRP and XLM, so you should be golden (so to speak).

 

I'm not sure if anyone has a real handle on what QFS will do to BTC.  But I'd like to hear theories.

[Jauronimo]

3 hours ago, Doc said:

 

I'm not sure if anyone has a real handle on what QFS will do to BTC.  But I'd like to hear theories.

What is old becomes new again.  We are back to discussing Cripple coin as the future.

[DrDawkinstein]

9 hours ago, Poleshifter said:

It's been 8 months since I first bought crypto. Bought some XRP because it will become the standard for the Quantum Financial System (coming soon to your area!).

 

XRP is ISO 20022 compliant, which is required in the banking world. You can't say that about Bitcoin.

 

But go ahead and hang on to your Bitcoin if you think that is the best course.

I can understand where my statement is out of left field. Most people do not realize there is a new Quantum Financial System coming.

 

At least you have some XRP and XLM, so you should be golden (so to speak).

 

How much trouble is XRP in with the SEC though?

[Jauronimo]

11 hours ago, Poleshifter said:

Or you could learn to understand it, and then benefit from it.

 

My wife was furious when I bought "something you can't see", so I can understand your reluctance to look into crypto.

Can you see equity?

[Doc]

Nobody sees the stocks they buy either.

[DrDawkinstein]

1 hour ago, Doc said:

Nobody sees the stocks they buy either.

 

I am disappointed I missed out on the era where I'd get actual paper stock certificates.