Cryptocurrency, who has it?

[s14roller]

Originally Posted by OliveSales

These prices are pretty nuts. It's crazy how so many people are buying without the slightest clue of what they are buying. I had a buddy call me and ask me if I wanted to go halves with him on a bitcoin... He didn't know you could be fractions of a coin. I think it's still possible for market cap to hit 1 trillion... I personally took a very long time to look into what I was investing and have been on the boat since around 40 billion market cap and every time I look at coinmarketcap I just can't believe the prices.


Market is currently being runned by greed instead of tech. In my opinion most coins will be put to the test as well as the coin holders. Once everyone goes from buying mode to selling mode it will become bear market for a while. For now, just enjoy the profits and try to get those coins that are being pumped.

This I agree. Again, for those who took a chance when BTC was pennies or a few bucks a coin, I think it was worth while to see what happens to your $500 investment. Bust, no biggie. To your point, market now is driven off of pure price movement. They could care less about the tech...they care about the green. I was at a family function this past weekend where I was talking to someone who works in IB about this. He shrugged his shoulders and said, "typically when your taxi driver starts talking to you about investments...well, you know."

[superdog]

I couldn’t stand it anymore.

I bought a small amount of Bitcoin, Etherium and Litecoin.

I don’t expect it to go anywhere. But losing it won’t hurt much either. And if this is something big, I figure this is just the start. Once it gets a solid foundation underneath it, it could really turn into something.

But whatever, I wish I bought it when I first started looking at it many months ago. I don’t want to say the same thing in a year or two.

[jimix]

Hi all - I'm super new to TRF so obviously take what I say with a grain of salt, but I have been in the crypto space for long enough to finally be able to realistically justify indulging in my other passion - watches! The one point I'd like to add is that it is possible for crypto to both be dramatically undervalued and simultaneously in a huge bubble...depending on your time scale! I don't consider myself an OG but I did buy my first one for double digit dollars (and remember thinking that price was exorbitant at the time) and have seen and lived through the volatility first hand. The same arguments people were making then (its a scam, ponzi scheme, tulips, etc) are being made now.

Is bitcoin volatile? Yes. Is the support & commercial infrastructure a disastrous mess? Yes. Are their a ton of scams and shitcoins floating out there? Yes. Are dopes going to lose a bunch of money? They'll find a way!

These aren't signs of the underlying technology being a problem, but rather the birth and growing pains of a nascent industry. There is a reason why all the major technology companies are on board with "blockchain".

I'm not in the business of giving investment advice so I will leave it on a philosophical note - the Bitcoin Whitepaper is as revolutionary a document as the Magna Carta. If you haven't read it (and I can tell most haven't!) - give it a quick google and 30 mins of your time (I can't post links as an incorrigible newb). Just as now we consider the separation of Church and State as a no-brainer, soon we will come to the same realization for the separation of Currency and State. If you can't see the value of a currency that allows for near instant transmission of any amount of money anywhere on the planet with no institutional intermediary, well...cheers anyway!

[Etschell]

the dollar is a piece of paper backed by a government promise and massive debt. it is not if but when its intrinsic value will be 0.00.

the thing is crypto doesnt need fiat to be 0.00 to survive. will only a few exist in 10 years? yes. but if any do it will be bitcoin and it will be worth more.

stocks arent much different. people think they own something but all they own is nothing but virtual or physical paper. its all based on more people buying than selling.

now for some they dont need to adpot it. for others they have nothing to lose. but those calling it a bubble without owning it or selling futures are simply irrelevant bystanders....

[John Ireland]

As a currency, it is like trading stamps. It is not like gold. It does not have legs. Nor does it have rarity. It is up their with tulips and other Ponzi schemes. Buyer Beware!

[pickettt]

Originally Posted by jimix

Just as now we consider the separation of Church and State as a no-brainer, soon we will come to the same realization for the separation of Currency and State. If you can't see the value of a currency that allows for near instant transmission of any amount of money anywhere on the planet with no institutional intermediary, well...cheers anyway!

I wish. That's an ideal that the powers that be will NEVER allow.

[GB-man]

Originally Posted by Etschell

the dollar is a piece of paper backed by a government promise and massive debt. it is not if but when its intrinsic value will be 0.00.

the thing is crypto doesnt need fiat to be 0.00 to survive. will only a few exist in 10 years? yes. but if any do it will be bitcoin and it will be worth more.

stocks arent much different. people think they own something but all they own is nothing but virtual or physical paper. its all based on more people buying than selling.

now for some they dont need to adpot it. for others they have nothing to lose. but those calling it a bubble without owning it or selling futures are simply irrelevant bystanders....

Serious question. How is a bitcoin any different than a stock? It’s intangible no?

[Etschell]

Originally Posted by GB-man

Serious question. How is a bitcoin any different than a stock? It’s intangible no?

its not. that was my point.

people are only buying stocks to make fiat to live their lives. anyone who says other wise is a liar.

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[OliveSales]

Hope everyone is doing well this fine morning. This weekend was definitely fun.

[hsm]

Are there documented examples of people, who bought bitcoin when peanuts, and years later were worth millions, and physically have turned those bitcoins into real money by having it transferred into a normal bank account?

[OliveSales]

Originally Posted by hsm

Are there documented examples of people, who bought bitcoin when peanuts, and years later were worth millions, and physically have turned those bitcoins into real money by having it transferred into a normal bank account?

https://nypost.com/2017/12/17/theres...klevoss-twins/

[hsm]

Originally Posted by GB-man

Serious question. How is a bitcoin any different than a stock? It’s intangible no?

a stock or share is the polar opposite of a bitcoin,

stocks and shares are indeed a piece of paper, a piece of paper being a legal document to an agreed proportion of a very real and very tangible company,


A bitcoin is the opposite of this,

surely you must know this.

[Fizoust]

Seems fishy to me
Won't buy any

[Fizoust]

Seems fishy to me
Won't buy an

[OliveSales]

Originally Posted by Fizoust

Seems fishy to me
Won't buy any

You can buy options now, I think you should short it.

[jhilly8982]

Originally Posted by OliveSales

You can buy options now, I think you should short it.

Not options, just futures. To be a retail trader of bitcoin futures is not an attractive proposition. Exchange margin require 30% but try finding a clearinghouse that doesn't require 100% margin.

[tbonesteak]

Originally Posted by jhilly8982

Not options, just futures. To be a retail trader of bitcoin futures is not an attractive proposition. Exchange margin require 30% but try finding a clearinghouse that doesn't require 100% margin.

I was looking for options, sadly only futures is correct.

If I could throw a few lotto darts on puts, I'd blindly shell out $5k on some dated stuff, pay a huge premium and set/forget... No chance I would mess with any type of leveraged instrument here, although CBOE is 1x1.

[tbonesteak]

Originally Posted by hsm

a stock or share is the polar opposite of a bitcoin,

stocks and shares are indeed a piece of paper, a piece of paper being a legal document to an agreed proportion of a very real and very tangible company,


A bitcoin is the opposite of this,

surely you must know this.

This... things called profits, dividends, audits, books, etc. all fall under the umbrella of a real company.

I can look at the aforementioned and make an assumption on what I can expect on my investment, and while I certainly might be wrong, it won't be because someone hacked Mt Gox, someone printed some fake coins to buy other coins, or it turns out there is absolutely no value behind what I purchased.

[tfjordan]

When even the people who invest in it admit they don’t understand it, umm......

I’ve missed other “opportunities” (air quotes) like getting rich day trading - remember that? How many day traders do you know today (other than those on Wall St. that do it for a living)?

I think I’ll wait until the bitcoin investors have liquidity issues and begin selling their Rolexes. Then cash will be king, and I’ll convert some of my cash assets to Rolex assets. That’s my plan.


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[GB-man]

Originally Posted by hsm

a stock or share is the polar opposite of a bitcoin,

stocks and shares are indeed a piece of paper, a piece of paper being a legal document to an agreed proportion of a very real and very tangible company,


A bitcoin is the opposite of this,

surely you must know this.

Originally Posted by tbonesteak

This... things called profits, dividends, audits, books, etc. all fall under the umbrella of a real company.

I can look at the aforementioned and make an assumption on what I can expect on my investment, and while I certainly might be wrong, it won't be because someone hacked Mt Gox, someone printed some fake coins to buy other coins, or it turns out there is absolutely no value behind what I purchased.

I have no horse in this race all I was pointing out was that when hits the fan a lot of investments can wind up worthless in a hurrry depending on who is buying and who is selling.

[superdog]

Originally Posted by tbonesteak

This... things called profits, dividends, audits, books, etc. all fall under the umbrella of a real company.

I can look at the aforementioned and make an assumption on what I can expect on my investment, and while I certainly might be wrong, it won't be because someone hacked Mt Gox, someone printed some fake coins to buy other coins, or it turns out there is absolutely no value behind what I purchased.

Apples and oranges.

Bitcoin is a currency. Albeit a new one with minimal foundational substance.

But in a truly global economy it might very well be the first of its kind.

[Wesley Crusher]

Kicking myself in the ass right now for not buying more LTC today after the huge dip.

[jschmidtdmd]

I can’t emphasize NEO enough.

I love the project and have been following it for quite awhile now. Although I missed out on most of the excessive bitcoin gains, i am thrilled to be apart of the NEO project from the beginning.

This weekend did feel good.

[OliveSales]

Originally Posted by jschmidtdmd

I can’t emphasize NEO enough.

I love the project and have been following it for quite awhile now. Although I missed out on most of the excessive bitcoin gains, i am thrilled to be apart of the NEO project from the beginning.

This weekend did feel good.

I sold antshares at 8$ after a 30% flip >:)

[antbkny]

What platform are you guys using?

[descartes]

What's to stop the owner/founder of bitcoin, whom no one knows, from flooding the market with more coins and instantly devaluing it?

[benlee]

Where's the best website to buy some bitcoins with paypal or credit card? Curious to try it out myself. I tried coinbase but they don't allow transaction in my country yet.

[Fredrik]

Originally Posted by hsm

Are there documented examples of people, who bought bitcoin when peanuts, and years later were worth millions, and physically have turned those bitcoins into real money by having it transferred into a normal bank account?

I believe the best way is to do what the fellows in the link just below your post did. Start your own bitcoin exchange and sell your bitcoin there. Be very careful and try to avoid buying any bitcoin at all.

[fusionstorm]

Originally Posted by Etschell

stocks arent much different. people think they own something but all they own is nothing but virtual or physical paper. its all based on more people buying than selling.

This is one of the most ignorant things I've read around the viability of Bitcoin or any other cryptocurrency. Owning a share of AAPL or AMZN is significantly different than owning BTC.

[powerfunk]

Originally Posted by fusionstorm

This is one of the most ignorant things I've read around the viability of Bitcoin or any other cryptocurrency. Owning a share of AAPL or AMZN is significantly different than owning BTC.

It's not ignorant, he's just expressing a philosophical viewpoint. It's just data representing something you can exchange for money. Just like basically any financial instrument, from the user's perspective.

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