Bitcoin currency of the future? | Page 22

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

  1. Tamriel Terror Silver Belt

    Tamriel Terror
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    Coinbase is making me rage. Can't make a profile due to high traffic. I'm trying to drop around $1000
     
    #421
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  2. John Wang Guest

    John Wang
    Dude I wish :(( I wish I would have bought some a while back but never did.. Wby??
     
    #422
  3. Der Eisbär psychonauticus ursus

    Der Eisbär
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    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.
     
    #423
  4. Der Eisbär psychonauticus ursus

    Der Eisbär
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    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.
     
    #424
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  5. AJ Garcia Professional Fighter

    AJ Garcia
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    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.
     
    #425
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  6. Der Eisbär psychonauticus ursus

    Der Eisbär
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    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.
     
    #426
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  7. SwamiLeoni Red Belt

    SwamiLeoni
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    Coinbase is crashing right now. I’m really needing BTC to crash so it bleeds back into my Alts.
     
    #427
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  8. Der Eisbär psychonauticus ursus

    Der Eisbär
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    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
     
    #428
  9. Grassshoppa Blue Belt

    Grassshoppa
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    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?
     
    #429
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  10. Der Eisbär psychonauticus ursus

    Der Eisbär
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    You can buy tiny fractions of the coin.
     
    #430
  11. SwamiLeoni Red Belt

    SwamiLeoni
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    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.
     
    #431
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  12. AJ Garcia Professional Fighter

    AJ Garcia
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    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.
     
    #432
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  13. Luminaire Red Belt

    Luminaire
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    You guys arent remotely ready for the ride you're about to go on.
     
    #433
    Last edited: Dec 7, 2017
  14. Der Eisbär psychonauticus ursus

    Der Eisbär
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    <TrumpWrong1>
     
    #434
  15. Luminaire Red Belt

    Luminaire
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    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)
     
    #435
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  16. Desdinova Brown Belt

    Desdinova
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    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.
     
    #436
  17. rj144 Black Belt

    rj144
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    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.
     
    #437
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  18. Luminaire Red Belt

    Luminaire
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    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.
     
    #438
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  19. Grassshoppa Blue Belt

    Grassshoppa
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    $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?
     
    #439
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  20. rj144 Black Belt

    rj144
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    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.
     
    #440
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