BITCOIN

venmos1

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Ok, new to all this stuff.....is it like stocks in that I can buy one "share" at going price ($1000 or so) and then in 6 mos if it's then up to $6000 I could "cash out" and make $5000 on that $1000 investment? Or is it not that simple? I have some cash I'd like to possibly invest in (think stimulus amount), but not a big amount.
 

10splaya22

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Ok, new to all this stuff.....is it like stocks in that I can buy one "share" at going price ($1000 or so) and then in 6 mos if it's then up to $6000 I could "cash out" and make $5000 on that $1000 investment? Or is it not that simple? I have some cash I'd like to possibly invest in (think stimulus amount), but not a big amount.

Yes you can buy any amount you want. For example $1000 at a bitcoin value of $31k is 0.03225806 bitcoin. So you can buy whatever amount you want. There are many places to buy it but Coinbase is probably the easiest although the fees are a little higher. The app is very easy to use though.
 

venmos1

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Yes you can buy any amount you want. For example $1000 at a bitcoin value of $31k is 0.03225806 bitcoin. So you can buy whatever amount you want. There are many places to buy it but Coinbase is probably the easiest although the fees are a little higher. The app is very easy to use though.
Thanks for the reply. I was more specifically referring to eth. That's why I referenced 1000 as it's around that price. I glanced at a few websites about this stuff. I saw coinbase as well as robinhood app. It's all just very appealing and odd at the same time where these currencies are taking off. Eth for example is said to possibly go to 9k, and fast. Buy at 1k and sell at 9k is an amazing investment. But at the same time, why isn't everyone else seeing this and jumping in? Or is there a possibility in of losing your money....I know there are no guarantees, but man, those who bought bitcoin early are doing quite all right.
 

98SVTContour98

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Thanks for the reply. I was more specifically referring to eth. That's why I referenced 1000 as it's around that price. I glanced at a few websites about this stuff. I saw coinbase as well as robinhood app. It's all just very appealing and odd at the same time where these currencies are taking off. Eth for example is said to possibly go to 9k, and fast. Buy at 1k and sell at 9k is an amazing investment. But at the same time, why isn't everyone else seeing this and jumping in? Or is there a possibility in of losing your money....I know there are no guarantees, but man, those who bought bitcoin early are doing quite all right.

those are good questions and they are the questions we all deal with....I'm at a point to where I do not think BTC or ETH will die and go to zero...If you hold them long enough, you will be profitable...I believe BTC is on the path to $100k over the next 12 or so months (could go even higher: JPMorgan saying $147k)...but it's the only coin I believe in...I have a bag for ETH but I'm more likely to sell ETH at some point (and then wait to rebuy once it enters a bear market again)...but i'm not selling my BTC for at least 10 years.
 

98SVTContour98

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Nah to much hype on that BITCOIN name, Cardano, BAT, IOTA, XLM and many more actually have value and are useful but didn't move like BITCOIN. Maybe one day in the future they will that is why I am holding them. The only issue will be like what happened to XRP and all these ICOs that are about to get their ass handed to them if XRP goes down.

yeah the threat of SEC charges looms over head of some projects (XRP...XLM? and others potentially). I'm in a ton of Alts, but plan to sell 50% of my holdings during this year or next...keep 50% for longterm lotto plays.

Like my buddy who bought LINK at 50cents...logged in for the first time last year to see his $2500 investment worth $50k!!! BUT, many of the coins he invested in were worth pennies on the dollars he invested
 

venmos1

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those are good questions and they are the questions we all deal with....I'm at a point to where I do not think BTC or ETH will die and go to zero...If you hold them long enough, you will be profitable...I believe BTC is on the path to $100k over the next 12 or so months (could go even higher: JPMorgan saying $147k)...but it's the only coin I believe in...I have a bag for ETH but I'm more likely to sell ETH at some point (and then wait to rebuy once it enters a bear market again)...but i'm not selling my BTC for at least 10 years.

Do you feel it would be wiser to put $1000 into BIT or ETH? Looks like BIT may triple at those numbers Vs possibly 8+ X current value with ETH. Some predictions are saying ETH could reach 8K or 9K. A couple are saying 100k. Lastly, how would i get my money out when i wanted to "cash out" where these are not stocks?
 

q6543

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There are a few public funds you can buy access to with a traditional account.

But they trade at a premium to NAV

$GBTC bitcoin
$ETHE ethereum
$BITW top 9 cryptos index
$LTCN litecoin.. but this is an EXTREME premium... like 2500%
 

98SVTContour98

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Does it


Do you feel it would be wiser to put $1000 into BIT or ETH? Looks like BIT may triple at those numbers Vs possibly 8+ X current value with ETH. Some predictions are saying ETH could reach 8K or 9K. A couple are saying 100k. Lastly, how would i get my money out when i wanted to "cash out" where these are not stocks?

If you create an account at Coinbase and buy there, then you can sell it there as well and send it straight to your bank account.

IDK what to recommend you buy...I believe in Bitcoin...but have a bag of ETH as well...so maybe go 50/50?
 

jvandy50

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does the ETH hype not sound similar to the BTC hype last time(2016-17) to anyone? rumors of 50k-100k...then at 19.5 it stopped, then down to 3.5. just a gut feeling, possible deja vu, from someone who doesn't fully understand it.
 

98SVTContour98

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does the ETH hype not sound similar to the BTC hype last time(2016-17) to anyone? rumors of 50k-100k...then at 19.5 it stopped, then down to 3.5. just a gut feeling, possible deja vu, from someone who doesn't fully understand it.

these are the cycles we've seen within all coins...ETH was like $1500 in 1/2018, then like $90 a few years later....they all go parabolic then enter a bear market....I'm assuming the same thing will happen to BTC this time around....the only thing that gives me pause is the amount of institutional money that has bought...makes me wonder if we will see the same type of correction or not.
 

quad

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these are the cycles we've seen within all coins...ETH was like $1500 in 1/2018, then like $90 a few years later....they all go parabolic then enter a bear market....I'm assuming the same thing will happen to BTC this time around....the only thing that gives me pause is the amount of institutional money that has bought...makes me wonder if we will see the same type of correction or not.
I don't think it will correct as much. All the Covid stimulus money will devalue the dollar in the long run. I am sure there will be corrections but I think the long term trend will see these assets increase. It is a gamble however and anything could happen. That's why I'd caution people to buy in too much at inflated prices.
 

quad

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Older people like Buffet don't get cryptos. But they will be replaced by a younger generation that does see the value in it.

Ethereum Cofounder Reveals ‘Underrated’ Bitcoin And Crypto Bull Case Amid Massive Price Rally

Bitcoin has exploded since October, climbing from its long-time $10,000 per bitcoin support level to never-before-seen highs of almost $35,000.

The bitcoin price added over 300% through 2020, a rally that included a 50% crash in March amid the coronavirus meltdown. Meanwhile, ethereum, the world's second-largest cryptocurrency, has rallied even harder—soaring 600% over the last 12 months.

Now, as bitcoin and cryptocurrency investors try to call exactly how far this already-huge rally will run, ethereum cofounder Vitalik Buterin has revealed what he thinks is an "underrated" bull case for crypto.

"One of the more underrated bull cases for cryptocurrency that I have always believed is simply the fact that gold is lame, the younger generations realize that it's lame, and that $9 trillion has to go somewhere," Buterin wrote in a recent 2020 summary blog post, referring to the total value of the world's mined gold.

Bitcoin's reputation as "digital gold" has grown in recent months, bolstered by a flurry of big-name investors that have named bitcoin as an emerging inflation hedge.

"If the gold bet works the bitcoin bet will probably work better because it’s thinner, more illiquid and has a lot more beta to it," billionaire investor Stanley Druckenmiller, who, along with fellow investor George Soros, famously bet against the British pound in 1992 and made massive profits, said in November.

Meanwhile, repeated surveys (as well as endless and often hilarious anecdotes) have found younger people are far more inclined to buy bitcoin, ethereum and other cryptocurrencies than older groups. And most of those surveys are from before the coronavirus pandemic forced governments around the world to heap even more debt on the shoulders of young.

We're now in "a world where blockchains and cryptocurrencies are well poised to play an important part, though for reasons much more complex than many people think, and having as much to do with cultural forces as anything financial," Buterin wrote, arguing "public-blockchain-based solutions [will] just keep quietly moving forward and gaining actual adoption."
 

mysticsvt

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tried getting a buddy to buy in spring 2019...he ended up buying at $19k in early december...he super pumped and sad he didn't buy more lol
Yeah it’s crazy exciting when it’s doing well. I bought a little more..... about to hit 5K I hope :) About to move 20k over to Amazon for the long haul.
 

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