Bitcoin ?

[VenomVeins]

Damnit....count me as one of the idiots who didnt listen to a coworker who was trying to get me to buy it at $748 in January.

My response to him: “Cryptocurrency is for ****ing pedophiles, criminals, and assorted other shitbags who want to fly under the radar”

Still completely true, but i would’ve been sitting so damn well if i just bought 2-3 and sat on it. I let my emotions cloud my judgement on that.

Coworker cashed out 12 of them at 9k recently. He still has 18 more that he’s hoarding. He says he got in at the high 100’s mark.

Damn.

 

[Rare40th]

I also feel confused about "Bitcoin". The idea is cool but the thought of no backing is a little worry some. I suppose if you bought some when it was dirt cheap then you'd be okay because if it crashed, you're not out much, whereas investing $17k for a single coin seems a little crazy.

I guess I'm curious how it works when you cash out. Let's say I invest the $17k for a single coin, tomorrow the price of a coin goes up to $100k per coin, can you just go in and claim your share and receive the cash back? Do you sell it to someone else? Does Bitcoin or whoever themselves buy it? What if everyone sells their shares tomorrow? Does Bitcoin have the cash to pay everyone not only what they invested but the "profits" too?
And when you're buying them, who exactly is taking the money and how do you know for sure that you are in the system? Do you get a letter in the mail with an authentication of your stock?

Just my opinion but..... almost seems as if whoever runs this computer money thing is dedicated to creating so many "coins" and once they rake in enough dough, they'll crash the system to a point where people will be left with nothing while they profit all of the money and every "investor" becomes a laughing stock. No pun intended.

Again I'm confused so maybe I need to be educated a little bit on it?

 

[Blown 89]

Again I'm confused so maybe I need to be educated a little bit on it?

This should help:
https://medium.com/@kristopolous/heres-what-s-happening-with-bitcoin-a4a11e0f835b

 

[GodStang]

Bitcoin in not a company and at this point is not Stock. Also you do not have to buy a whole bitcoin just like you dont have to buy a whole dollar. You can buy very small fractions of a bitcoin. So if you bought say .25 of a bitcoin at todays price (going with $16K a full coin) you would pay around $4000. You would own .25 bitcons in your virtual wallet. If the price went up to $32K a coin then your .25 bitcoin would be worth.... $8K. Just as if the price went down to $8K your .25 bitcoin would be worth $2K.

I also feel confused about "Bitcoin". The idea is cool but the thought of no backing is a little worry some. I suppose if you bought some when it was dirt cheap then you'd be okay because if it crashed, you're not out much, whereas investing $17k for a single coin seems a little crazy.

I guess I'm curious how it works when you cash out. Let's say I invest the $17k for a single coin, tomorrow the price of a coin goes up to $100k per coin, can you just go in and claim your share and receive the cash back? Do you sell it to someone else? Does Bitcoin or whoever themselves buy it? What if everyone sells their shares tomorrow? Does Bitcoin have the cash to pay everyone not only what they invested but the "profits" too?
And when you're buying them, who exactly is taking the money and how do you know for sure that you are in the system? Do you get a letter in the mail with an authentication of your stock?

Just my opinion but..... almost seems as if whoever runs this computer money thing is dedicated to creating so many "coins" and once they rake in enough dough, they'll crash the system to a point where people will be left with nothing while they profit all of the money and every "investor" becomes a laughing stock. No pun intended.

Again I'm confused so maybe I need to be educated a little bit on it?

 

[Buckwheat 1]

https://www.newsmax.com/t/finance/a...e/Finance-ArticleTemplate&oref=m.facebook.com

 

[Rare40th]

This should help:
https://medium.com/@kristopolous/heres-what-s-happening-with-bitcoin-a4a11e0f835b

Thanks for the link. It was a pretty good read and helped understanding it

Bitcoin in not a company and at this point is not Stock. Also you do not have to buy a whole bitcoin just like you dont have to buy a whole dollar. You can buy very small fractions of a bitcoin. So if you bought say .25 of a bitcoin at todays price (going with $16K a full coin) you would pay around $4000. You would own .25 bitcons in your virtual wallet. If the price went up to $32K a coin then your .25 bitcoin would be worth.... $8K. Just as if the price went down to $8K your .25 bitcoin would be worth $2K.

So it's like most stocks essentially, the difference is that there's not an actual "company" with real profits or assets?

 

[DavidHasselhoff]

Posted this on my FB the other day saying “Lambo now or Bugatti later?”

Btw, I’ve only invested around $12,000 into BTC (Bought in at $600-$1200 range). I kinda sorta day trade Litecoin (Sold @$138 earlier today with a little over 86 Litecoins, only have an initial investment of $3.5k). I’m also invested in Ripple, Monero, & IOTA.

Here’s a zoom in on the balance...

 

[Zemedici]

Holy shit bro

Why didn’t I get a heads up on this?!

That’s very cool.

 

[Buckwheat 1]

For a fee of 12 Ben Fraklins plus expenses. I will kick you in the nuts every time you consider hitting the buy button.

 

[AustinSN]

I would ****ing sell. lol.

 

[svtfocus2cobra]

I decided to jump in on this but obviously not focusing on Bitcoin. Going to go in on Ethereum and Litecoin and see what happens.

Reason being I have been wanting to get in on investing but dont have the upfront funds to get into an investment account I can control. I have an IRA but I want something I can do on my own and this works out perfect for me. It's a risk but it is one Im okay with taking, and besides, when is investing not a risk?

Sent from my SM-G935P using the svtperformance.com mobile app

 

[AustinSN]

I decided to jump in on this but obviously not focusing on Bitcoin. Going to go in on Ethereum and Litecoin and see what happens.

Reason being I have been wanting to get in on investing but dont have the upfront funds to get into an investment account I can control. I have an IRA but I want something I can do on my own and this works out perfect for me. It's a risk but it is one Im okay with taking, and besides, when is investing not a risk?

Sent from my SM-G935P using the svtperformance.com mobile app

Ever heard of Robinhood?

 

[svtfocus2cobra]

Ever heard of Robinhood?

Not sure what you mean here lol.

Sent from my SM-G935P using the svtperformance.com mobile app

 

[Tx5811]

Not sure what you mean here lol.

Sent from my SM-G935P using the svtperformance.com mobile app

Investment app. Look into it.

 

[AustinSN]

Not sure what you mean here lol.

Sent from my SM-G935P using the svtperformance.com mobile app

Free app, free trades, no minimum for regular trading.

It's not for day trading unless you have $25k in the app.

It works great if you want to throw a few thousand into different places and watch yourself lose money every day on the toilet.

 

[svtfocus2cobra]

Investment app. Look into it.

Oh okay. I got on Coinbase, but do you recommend I switch? Coinbase seems pretty easy so far.

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[AustinSN]

Oh okay. I got on Coinbase, but do you recommend I switch? Coinbase seems pretty easy so far.

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Robinhood is for the actual stock exchange.

Sorry I wasn't clear initially.

 

[MFE]

The google search trend on "bitcoin" spells "get out now"

 

[Equalbracket]

I bought two at around 7k and sold one when it was high enough to break even, so now I have one that's pure profit. Also the transactions take a lot longer then I anticipated.

And I found myself checking the price like every 30 mins, seeing it drop then up then down, now that I cant lose anything I'll just sit on it and wait. Oh and they're considered property by the IRS so be mindful of capital gains.

 

[11sec Guy]

Oh okay. I got on Coinbase, but do you recommend I switch? Coinbase seems pretty easy so far.

Sent from my SM-G935P using the svtperformance.com mobile app

Now that you have a coinbase account, switch from coinbase to GDAX for _significantly_ lower fees (about a tenth of what coinbase charges or even free if you use 'post only' limit trades) and more sophisticated control of your trades. They're the same company, so you'll be able to use your coinbase login at GDAX and transfer your funds instantly for free between the two.

Coinbase and GDAX are limited to a handful of blue chip coins (BTC,ETH,LTC at this time). As for Bittrex -- it's an exchange used mostly for trading alternative coins and it doesn't support fiat as a means of funding your account, so if you want to buy alt coins, you'll want to buy BTC (or ETH) on GDAX, then withdraw that to your Bittrex account to fund it and start trading currency pairs.

Enjoy the ride.


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