Bitcoin currency of the future?

Discussion in 'Mayberry Lounge' started by CauseImbetta, Jan 1, 2016.

  1. Tamriel Terror

    Tamriel Terror Silver Belt

    Joined:
    Aug 21, 2014
    Messages:
    10,871
    Likes Received:
    35,679
    Coinbase is making me rage. Can't make a profile due to high traffic. I'm trying to drop around $1000
     
    Der Eisbär likes this.
  2. John Wang

    John Wang Guest

    Dude I wish :(( I wish I would have bought some a while back but never did.. Wby??
     
  3. Der Eisbär

    Der Eisbär Banned Banned

    Joined:
    Aug 26, 2014
    Messages:
    14,078
    Likes Received:
    14,779
    Location:
    Cascadia
    Just got started last week with some poverty funds. Dude you don't need to have gotten in super early. If bitcoin reaches 100k or blasts off into the moon to 1 million NOW is super early. Doesnt matter if you're getting on the front of the train or the back, just get on the train!

    About to quit my job and start school full time the first week of january. Going to drop my entire last paycheck into it and 1k from student loans into it. Idgaf if anyone wants to call me an idiot for doin that. If it proves a good move that simple 1k could end up paying off my entire student loan. If it crashes I will sell before it drops below my original investment.
     
  4. Der Eisbär

    Der Eisbär Banned Banned

    Joined:
    Aug 26, 2014
    Messages:
    14,078
    Likes Received:
    14,779
    Location:
    Cascadia
    Patience man. We're in it for the long term, probably years. I know you want to get in on the gains but just be patient.
     
    fmartnz2 likes this.
  5. AJ Garcia

    AJ Garcia I love men belt Professional Fighter

    Joined:
    Jul 22, 2014
    Messages:
    7,241
    Likes Received:
    17,228
    Location:
    Wrestling men
    Yep. I didn’t get in until last month when it was at 7k. Put $1000 down and have been putting $100 a week into it since. It’s more than doubled since that time so I’ve made out pretty nice for just getting in.
     
    volodya, Zer and Der Eisbär like this.
  6. Der Eisbär

    Der Eisbär Banned Banned

    Joined:
    Aug 26, 2014
    Messages:
    14,078
    Likes Received:
    14,779
    Location:
    Cascadia
    thats awesome dude. Im happy for ya. Ive been an idiot for not putting money away into this since I was made aware two years ago. Just gotta learn from my mistakes and move forward.
     
    AJ Garcia likes this.
  7. SwamiLeoni

    SwamiLeoni Silver Belt

    Joined:
    Nov 2, 2003
    Messages:
    10,627
    Likes Received:
    1,107
    Location:
    In a UPS box
    Coinbase is crashing right now. I’m really needing BTC to crash so it bleeds back into my Alts.
     
    fmartnz2 and Der Eisbär like this.
  8. Der Eisbär

    Der Eisbär Banned Banned

    Joined:
    Aug 26, 2014
    Messages:
    14,078
    Likes Received:
    14,779
    Location:
    Cascadia
    Do you have any insight as to why up until this point, a rise in btc created a rise in the altcoins but now the rising btc is making the others sink? Wanting to see some movement in my litecoin
     
  9. Grassshoppa

    Grassshoppa Green Belt

    Joined:
    Feb 14, 2010
    Messages:
    1,448
    Likes Received:
    1,012
    Bitcoin sounds like a massive scam. Probably because I never bought any and it's too high for me to buy any now. If I had bought on day one and had a few million in Bitcoin now I'd be praying it turns out. The whole thing seems crazy. New currency taking over the world and replacing the US dollar?
     
    HunterAcosta likes this.
  10. Der Eisbär

    Der Eisbär Banned Banned

    Joined:
    Aug 26, 2014
    Messages:
    14,078
    Likes Received:
    14,779
    Location:
    Cascadia
    You can buy tiny fractions of the coin.
     
  11. SwamiLeoni

    SwamiLeoni Silver Belt

    Joined:
    Nov 2, 2003
    Messages:
    10,627
    Likes Received:
    1,107
    Location:
    In a UPS box
    No clue, but often times when BTC goes up that means there is less money going into Alts. Coinbase experienced 8x’s the amount of traffic it had in June (during a huge crash) and I’m guessing it’s even more now. Could be new investors, could be people wanting to short. It’s the Wild West right now. I just need REQ to hit to make my investment. +1 for LTC. I’ve got a handful of them @ $44.
     
    Der Eisbär likes this.
  12. AJ Garcia

    AJ Garcia I love men belt Professional Fighter

    Joined:
    Jul 22, 2014
    Messages:
    7,241
    Likes Received:
    17,228
    Location:
    Wrestling men
    Ya I remember reading threads about it back when it was at $200. I started doing some research into it and wanted to invest then. I just didn’t know enough about it so it scared me away. I’m kicking myself now but still glad I got in.
     
    Der Eisbär likes this.
  13. Luminaire

    Luminaire Silver Belt

    Joined:
    Apr 12, 2010
    Messages:
    10,126
    Likes Received:
    8,259
    You guys arent remotely ready for the ride you're about to go on.
     
    Last edited: Dec 7, 2017
  14. Der Eisbär

    Der Eisbär Banned Banned

    Joined:
    Aug 26, 2014
    Messages:
    14,078
    Likes Received:
    14,779
    Location:
    Cascadia
    <TrumpWrong1>
     
  15. Luminaire

    Luminaire Silver Belt

    Joined:
    Apr 12, 2010
    Messages:
    10,126
    Likes Received:
    8,259
    lol.

    So no one can really explain WHY bitcoin was $1k at the start of the year and flirting with $20k now... let alone why it was $1k to begin with.

    Investing in Bitcoin has hit hysteria levels... you may *think* you're on the ground floor... or even early, but you're not.

    It's on the news, it's being talked about in the office, over thanksgiving tables etc... the news is out.

    Come Dec 10, you'll be able to trade derivatives on Bitcoin, boy will that be fun... so with a ton of hysteria driving the price up 200%+ in the last month, what side of those contracts do you think will dominate?

    If you're investing long term... maybe some of this doesn't worry you as much, although it's hard to say.

    But you have a TON of new weak hand investors buying in on little knowledge, little understanding and when things get shaky they'll all do what you guys are saying, attempt to cover (sell) their position before it crashes.

    If you bought in months ago... I'd sell off a good chunk to cover whatever you don't want to lose (original investment at least) it will be a lot easier to ride out what's to come if you're playing with money you made in bitcoin.

    If you're going against this warning, then you need to be able to explain to yourself exactly what the value of Bitcoin is and why it's worth the 300-400 Billion you're buying it for. (21 mil * 16k)
     
    kahiljabroni likes this.
  16. Desdinova

    Desdinova Brown Belt

    Joined:
    Apr 9, 2010
    Messages:
    4,495
    Likes Received:
    2,583
    It just seems like mania at this point to me. People aren't buying to use it as a currency primarily, they are buying it because they think it's an investment that is guaranteed to go up exponentially.
     
  17. rj144

    rj144 Red Belt

    Joined:
    Jul 7, 2016
    Messages:
    7,947
    Likes Received:
    7,118
    You can apply this to anything. Why is gold the price it is? Why is a Canadian dollar a certain value compared to USD? It's all confidence and speculation.

    The entire economic system is a construct. It's artificial.

    What initially brought down Lehman Brothers? A speculative rumor and nothing else.
     
    Der Eisbär likes this.
  18. Luminaire

    Luminaire Silver Belt

    Joined:
    Apr 12, 2010
    Messages:
    10,126
    Likes Received:
    8,259
    Ok fair enough.

    If Gold was 1k to start the year and was now trading at 20k... I wouldn't be thinking to myself, "Boy I need to get in on this gold thing!"

    I honestly don't think it's going to take much time to for this to shift course. People who were actually in early will begin taking their chips down and as that sinks the price, everyone else will follow.

    I love that someone earlier said that it "corrected" to 16k from 18k or whatever... TODAY, lol... nothing has corrected, this is the bubble of all bubbles.
     
    rj144 likes this.
  19. Grassshoppa

    Grassshoppa Green Belt

    Joined:
    Feb 14, 2010
    Messages:
    1,448
    Likes Received:
    1,012
    $16,760 now. I like the mania lol. The whole thing is crazy. It sounds like a Dr. Seuss book. Hey everyone, I have a wazzle to sell. One wazzle equals $1,000 dollars. Who wants to buy one for $5?
     
    volodya and Der Eisbär like this.
  20. rj144

    rj144 Red Belt

    Joined:
    Jul 7, 2016
    Messages:
    7,947
    Likes Received:
    7,118
    But what causes an actual bubble to crash? For instance, the dot com bubble was popped because there weren't many dot coms making anything worth while. People lost confidence and it collapsed.

    If most think this will go up, people will get in and it'll continue going up... for a long time. What's the tangible thing that people will lose confidence in? It's a feedback loop that will take something crazy to disrupt it.

    People apply "bubble" in the context of other commodities which are not currencies. This is a new paradigm and I don't think anyone knows how it actually behaves well.
     
    Nik123 and therealdope like this.

Share This Page