Cryptocurrency

[edjr 6,580]

down 22% today.

[Cdub100 3,907]

100k by the end of the year.

[edjr 6,580]

24 HOUR LOW

$30,539.01

24 HOUR HIGH

$39,509.43

 

[Cdub100 3,907]

5 hours ago, edjr said:

24 HOUR LOW

$30,539.01

24 HOUR HIGH

$39,509.43

 

https://i.ytimg.com/vi/hbEbD1Z_tNQ/maxresdefault.jpg

[tubby_mcgee 701]

22 hours ago, Cdub100 said:

100k by the end of the year.

Everyone has their opinion.  You might very well be right. 

This is what I've thought about and discussed with my friends all along.  

Of course there are guys out there saying it's going to 400k..... and they might be right.

Personally, this is what I believe to a T. 

https://www.foxbusiness.com/markets/bitcoin-is-a-fools-gold-peter-schiff

 

"Schiff explained that bitcoin investors who were able to sell after the stock’s recent joyride are merely selling to other buyers who don’t recognize it’s all a “scheme.” However, he added, most people who don’t sell are “under the delusion” that bitcoin will someday turn to cash. "

 

I don't know what "bagholder" means per se.  I mean, if you buy at 15k and it goes to 100k and you don't sell, and it falls to 30k, and you make 15k, I don't think that makes you a bagholder, but there will be plenty.   If you make money, then congrats. I think making money just means you got out in time.  

Again, just my thought process.  Not saying I'm right or 100% sure. It's just why I have stayed away. 

[edjr 6,580]

4 minutes ago, tubby_mcgee said:

Everyone has their opinion.  You might very well be right. 

This is what I've thought about and discussed with my friends all along.  

Of course there are guys out there saying it's going to 400k..... and they might be right.

Personally, this is what I believe to a T. 

https://www.foxbusiness.com/markets/bitcoin-is-a-fools-gold-peter-schiff

 

"Schiff explained that bitcoin investors who were able to sell after the stock’s recent joyride are merely selling to other buyers who don’t recognize it’s all a “scheme.” However, he added, most people who don’t sell are “under the delusion” that bitcoin will someday turn to cash. "

 

I don't know what "bagholder" means per se.  I mean, if you buy at 15k and it goes to 100k and you don't sell, and it falls to 30k, and you make 10k, I don't think that makes you a bagholder, but there will be plenty.   If you make money, then congrats. I think making money just means you got out in time.  

Again, just my thought process.  Not saying I'm right or 100% sure. It's just why I have stayed away. 

That does make sense

[GutterBoy 2,899]

For the record, Shiff has been pushing gold for years, and has been a bitcoin doubter for just as long.  Not saying his thoughts are not valid, just giving info.  I happen to agree.

[Hawkeye21 2,399]

Schiff is a huge hater of Bitcoin.  He's going to talk trash about it till the bitter end.

[Cdub100 3,907]

19 minutes ago, tubby_mcgee said:

Everyone has their opinion.  You might very well be right. 

This is what I've thought about and discussed with my friends all along.  

Of course there are guys out there saying it's going to 400k..... and they might be right.

Personally, this is what I believe to a T. 

https://www.foxbusiness.com/markets/bitcoin-is-a-fools-gold-peter-schiff

 

"Schiff explained that bitcoin investors who were able to sell after the stock’s recent joyride are merely selling to other buyers who don’t recognize it’s all a “scheme.” However, he added, most people who don’t sell are “under the delusion” that bitcoin will someday turn to cash. "

 

I don't know what "bagholder" means per se.  I mean, if you buy at 15k and it goes to 100k and you don't sell, and it falls to 30k, and you make 15k, I don't think that makes you a bagholder, but there will be plenty.   If you make money, then congrats. I think making money just means you got out in time.  

Again, just my thought process.  Not saying I'm right or 100% sure. It's just why I have stayed away. 

I don't understand what he means by scheme. What's the scheme?

[Hawkeye21 2,399]

Just now, Cdub100 said:

I don't understand what he means by scheme. What's the scheme?

Probably ponzi scheme.

[GutterBoy 2,899]

1 minute ago, Cdub100 said:

I don't understand what he means by scheme. What's the scheme?

Ponzi scheme.

[Cdub100 3,907]

Just now, Hawkeye21 said:

Probably ponzi scheme.

If he thinks that he's not very smart. There is a limited amount of bitcoin. 

[edjr 6,580]

2 minutes ago, Cdub100 said:

If he thinks that he's not very smart. There is a limited amount of bitcoin. 

exactly his point. 

[Hawkeye21 2,399]

1 minute ago, Cdub100 said:

If he thinks that he's not very smart. There is a limited amount of bitcoin. 

I see a lot of people make comments on social media about it being a ponzi scheme.  Lots of haters out there.  I think they're just upset that they missed out on making a lot of money.

[Cdub100 3,907]

13 minutes ago, GutterBoy said:

Ponzi scheme.

That's what hawkeye said, but I don't get it. A Ponzi is when I take money from people to pay other people and skim off the top. I do this until I can't get more people to buy in and can't pay off the original investors. A Ponzi is Social security. There is no middle man with bitcoin. The transaction is between two people.

There will only ever be 21 million bitcoin. Besides, when I buy BTC I'm given BTC in return. I now hold it, it's mine. Kinda like a bar of gold. In a ponzi I invest cash and expect to get a certain % of cashback over time.

Yeah I don't get how Peter can think BTC is a Ponzi.

[Cdub100 3,907]

10 minutes ago, Hawkeye21 said:

I see a lot of people make comments on social media about it being a ponzi scheme.  Lots of haters out there.  I think they're just upset that they missed out on making a lot of money.

When people don't understand something they tend to write it off or call it a scam. That's fine bitcoin isn't for them.

I don't understand why a shinny piece of metal has so much value. I mean I do, but the same arguments against bitcoin can be made about gold. If people decided gold was just another metal it wouldn't have value. Same with bitcoin same with most everything. People buy billions of dollars in stock from zombie companies that have never made any profits. Yet that companies stock still has value. 

Could Bitcon crash and go to zero? Absolutely. The same can be said for Tesla, Amazon etc... The only thing gold has going for it is historical value. And gold too can crash.

So when people say it can crash and you'll lose everything. Well sure, that's the risk you take when you invest in something. That's why everyone says "do your research" That's why I diversify not only in crypto, but in stocks, bonds, gold and property.

I'm not smart enough to which is the best investment I just know holding assets is the best way to grow wealth and BTC has destroyed everything else in growth over the decade. I'd be a fool NOT to be a part of that.

[GutterBoy 2,899]

15 minutes ago, Cdub100 said:

If he thinks that he's not very smart. There is a limited amount of bitcoin. 

The quantity doesn't matter, it's the utility, and as of know there really is no utility.

[GutterBoy 2,899]

12 minutes ago, Cdub100 said:

That's what hawkeye said, but I don't get it. A Ponzi is when I take money from people to pay other people and skim off the top. I do this until I can't get more people to buy in and can't pay off the original investors. A Ponzi is Social security. There is no middle man with bitcoin. The transaction is between two people.

There will only ever be 21 million bitcoin. Besides, when I buy BTC I'm given BTC in return. I now hold it, it's mine. Kinda like a bar of gold. In a ponzi I invest cash and expect to get a certain % of cashback over time.

Yeah I don't get how Peter can think BTC is a Ponzi.

In order for BTC to keep it's value, you need a buyer.  When the buyer's disappear, the value is gone.  That's how a ponzi scheme works, as long as you have buyer's, the scheme keeps going.

With other asset classes, if you can't find a buyer, well then at least you have the asset.  Like gold, if you buy a bar of gold, you won the bar.  Theoretically if nobody wants to buy gold anymore, you can melt it down, make a chain and wear it.  With BTC, there is nothing, you own a piece of code.  You can't do anything with it.

[Cdub100 3,907]

Just now, GutterBoy said:

The quantity doesn't matter, it's the utility, and as of know there really is no utility.

I can exchange bitcoin for goods and services. Hell, when I sold my house I paid the mold inspector in bitcoin. There's a utility right there.

You can use the bitcoin infrastructure to write code, not as well as etherium (which is my favorite crypto) so there's another utility.

[Cdub100 3,907]

1 minute ago, GutterBoy said:

In order for BTC to keep it's value, you need a buyer.  When the buyer's disappear, the value is gone.  That's how a ponzi scheme works, as long as you have buyer's, the scheme keeps going.

With other asset classes, if you can't find a buyer, well then at least you have the asset.  Like gold, if you buy a bar of gold, you won the bar.  Theoretically if nobody wants to buy gold anymore, you can melt it down, make a chain and wear it.  With BTC, there is nothing, you own a piece of code.  You can't do anything with it.

What happens to my tesla stock if people can't find a single buyer?

[GutterBoy 2,899]

1 minute ago, Cdub100 said:

I can exchange bitcoin for goods and services. Hell, when I sold my house I paid the mold inspector in bitcoin. There's a utility right there.

You can use the bitcoin infrastructure to write code, not as well as etherium (which is my favorite crypto) so there's another utility.

I highly doubt that mold inspectors are gonna keep the BTC utility alive.  You would need alot more people than mold inspectors.

[Hawkeye21 2,399]

Just now, GutterBoy said:

I highly doubt that mold inspectors are gonna keep the BTC utility alive.  You would need alot more people than mold inspectors.

An NFL player got paid in BTC.  Businesses are starting to accepted payment in BTC online.

[GutterBoy 2,899]

1 minute ago, Cdub100 said:

What happens to my tesla stock if people can't find a single buyer?

It goes down, but as long as tesla generates revenue, there will be buyers.  The difference between Tesla and BTC is Tesla sells cars, they generate revenue, there is value there.  There is no intrinsic value in BTC.  The only value is what someone else will pay for it.

[Cdub100 3,907]

Just now, GutterBoy said:

I highly doubt that mold inspectors are gonna keep the BTC utility alive.  You would need alot more people than mold inspectors.

You didn't think bitcoin has a utility and I gave you an example. Normally I don't give away bitcoin, but he and I got to talk about it and I wanted to pay with it. To use its utility.

[GutterBoy 2,899]

Just now, Hawkeye21 said:

An NFL player got paid in BTC.  Businesses are starting to accepted payment in BTC online.

OK, you can hire a mold inspector and an NFL player.  Keep going...

[GutterBoy 2,899]

Just now, Cdub100 said:

You didn't think bitcoin has a utility and I gave you an example. Normally I don't give away bitcoin, but he and I got to talk about it and I wanted to pay with it. To use its utility.

I said "really no utility", let me rephrase, "very little utility".  Better?  I don't see how that's even an argument.  Will there be utility in the future?  it's possible, I don't know, I'm just explaining that is why people call it a ponzi scheme.

[Hawkeye21 2,399]

1 minute ago, GutterBoy said:

OK, you can hire a mold inspector and an NFL player.  Keep going...

Be able to buy stuff with BTC isn't really my main concern.  Right now it's just a small investment for me.  If it takes off even more then I want to be included in making some profit.  If it fails I won't be out that much.

[Cdub100 3,907]

Just now, GutterBoy said:

I said "really no utility", let me rephrase, "very little utility".  Better?  I don't see how that's even an argument.  Will there be utility in the future?  it's possible, I don't know, I'm just explaining that is why people call it a ponzi scheme.

If that's why they call it a Ponzi scheme then they don't know what "utility" is nor do they know what a "Ponzi scheme" is.

[GutterBoy 2,899]

17 minutes ago, Cdub100 said:

When people don't understand something they tend to write it off or call it a scam. That's fine bitcoin isn't for them.

I don't understand why a shinny piece of metal has so much value. I mean I do, but the same arguments against bitcoin can be made about gold. If people decided gold was just another metal it wouldn't have value. Same with bitcoin same with most everything. People buy billions of dollars in stock from zombie companies that have never made any profits. Yet that companies stock still has value. 

Could Bitcon crash and go to zero? Absolutely. The same can be said for Tesla, Amazon etc... The only thing gold has going for it is historical value. And gold too can crash.

So when people say it can crash and you'll lose everything. Well sure, that's the risk you take when you invest in something. That's why everyone says "do your research" That's why I diversify not only in crypto, but in stocks, bonds, gold and property.

I'm not smart enough to which is the best investment I just know holding assets is the best way to grow wealth and BTC has destroyed everything else in growth over the decade. I'd be a fool NOT to be a part of that.

You're saying people don't understand bitcoin but then you're making the same arguments I'm making.

[Hawkeye21 2,399]

4 minutes ago, GutterBoy said:

OK, you can hire a mold inspector and an NFL player.  Keep going...

https://99bitcoins.com/bitcoin/who-accepts/

[GutterBoy 2,899]

1 minute ago, Hawkeye21 said:

Be able to buy stuff with BTC isn't really my main concern.  Right now it's just a small investment for me.  If it takes off even more then I want to be included in making some profit.  If it fails I won't be out that much.

Cool, more power to you.  It's speculative trade, there is nothing wrong with that, but you have to be honest with yourself about it.

[Cdub100 3,907]

3 minutes ago, GutterBoy said:

You're saying people don't understand bitcoin but then you're making the same arguments I'm making.

I don't think we disagree in general. 

[Patriotsfatboy1 1,432]

5 hours ago, Hawkeye21 said:

An NFL player got paid in BTC.  Businesses are starting to accepted payment in BTC online.

He was paid in dollars. He had a 3rd party automatically convert it to Bitcoin. 

[Strike 5,538]

https://www.sfgate.com/business/article/Lost-Passwords-Lock-Millionaires-Out-of-Their-15864082.php?IPID=SFGate-HP-CP-Spotlight&utm_source=fark&utm_medium=website&utm_content=link&ICID=ref_fark

[edjr 6,580]

12 minutes ago, Strike said:

https://www.sfgate.com/business/article/Lost-Passwords-Lock-Millionaires-Out-of-Their-15864082.php?IPID=SFGate-HP-CP-Spotlight&utm_source=fark&utm_medium=website&utm_content=link&ICID=ref_fark

vuduchile 

[Hardcore troubadour 15,424]

Can I buy a timeshare using Bitcoin? 

[Cdub100 3,907]

6 minutes ago, Hardcore troubadour said:

Can I buy a timeshare using Bitcoin? 

Only if you get three other friends to sign up. Then they are working for you. #bossbabe

[Hardcore troubadour 15,424]

1 minute ago, Cdub100 said:

Only if you get three other friends to sign up. Then they are working for you. #bossbabe

And a set of golf clubs? 

[Cdub100 3,907]

Just now, Hardcore troubadour said:

And a set of golf clubs? 

It's all about the hawaii trip. Grow your business. Be your own boss. 

[vuduchile 1,945]

2 hours ago, edjr said:

vuduchile 

Ha!  I wish.   I bypassed Coinbase’s verification nightmare by using my old phone where all the info was stored in the app.  Transferred straight to my PayPal account.   
 

Binance is proving to be more difficult.