Cryptocurrency

[nobody 2,044]

I have to give you diamond hands credit.  Dogecoin is somewhere around 1000x overvalued.  Once I saw that move last week, I'd have sold every bit of crypto I own.

[Cdub100 3,383]

17 minutes ago, nobody said:

I have to give you diamond hands credit.  Dogecoin is somewhere around 1000x overvalued.  Once I saw that move last week, I'd have sold every bit of crypto I own.

I own like 2 doge coins and that's only because of the way binance does their referals. That being said I hate doge and think of doge the same way no coiners think of bitcoin. It's silly and not worth anything.

But I have to give people credit. They pumped it. I just wish they put that money in bitcoin, etherium, or even monero.

[Frozenbeernuts 1,652]

https://www.google.com/amp/s/www.cnbc.com/amp/2021/04/19/china-calls-bitcoin-an-investment-alternative-marking-shift-in-tone.html

BOAO, China — China's central bank is now calling bitcoin an "investment alternative" — marking a significant shift in Beijing's tone after a crackdown on cryptocurrency issuance and trading nearly four years ago.

Industry insiders called the comments "progressive" and are watching closely for any regulatory changes made by the People's Bank of China (PBOC).

[Frozenbeernuts 1,652]

China knows the danger of not embracing bitcoin.

Remember when newbie said that people got screwed investing in bitcoin at 20k a coin? I wouldn't take advice from someone who thinks a 3x investment in 3 years is a bad thing.

[Frozenbeernuts 1,652]

On 4/17/2021 at 8:15 PM, Cdub100 said:

I own like 2 doge coins and that's only because of the way binance does their referals. That being said I hate doge and think of doge the same way no coiners think of bitcoin. It's silly and not worth anything.

But I have to give people credit. They pumped it. I just wish they put that money in bitcoin, etherium, or even monero.

Thats part of the equation that's yet to come. When coins start to fall off, a lot of that $1T alt market will rotate into btc

[Mike Isles 583]

Whoa. $0.40

Otherside of the world did its part last night. 

[Mrs. Voltaire 46]

On 4/17/2021 at 9:15 PM, Cdub100 said:

It's silly and not worth anything.

 

Tell that to those of us that have increased their net worth by 1000.

Deny all you want, we're going to the moon.

[Mrs. Voltaire 46]

3 hours ago, Frozenbeernuts said:

Thats part of the equation that's yet to come. When coins start to fall off, a lot of that $1T alt market will rotate into btc

Why is doge sh!t, but btc is awesome?

[easilyscan 559]

I'm considering putting a small % of cash that's earning next to nothing in bitcoin today.

Was hoping to buy fractional shares of bitcoin, which is trading around $55,000.00 today.

Retail brokerage customers cannot buy or sell any cryptocurrencies at Fidelity.

 

Did a little bit of research and found the following available for trade.

BCHG
GRAYSCALE BITCOIN CASH TRUST (BCH)
30.27Down -3.01 (-9.044471 %)

Anyone familiar with this one ?

good/bad ?

 

[Cdub100 3,383]

4 hours ago, easilyscan said:

I'm considering putting a small % of cash that's earning next to nothing in bitcoin today.

Was hoping to buy fractional shares of bitcoin, which is trading around $55,000.00 today.

Retail brokerage customers cannot buy or sell any cryptocurrencies at Fidelity.

 

Did a little bit of research and found the following available for trade.

BCHG
GRAYSCALE BITCOIN CASH TRUST (BCH)
30.27Down -3.01 (-9.044471 %)

Anyone familiar with this one ?

good/bad ?

 

Just so you know you're investing into a company who buys bitcoin cash. Just so you know bitcoim cash is NOT bitcoin. It's different.

If you want to get into BCH and don't want to buy the token yourself than yeah that's a fine stock. 

I would recommend you check out some of their other trusts they offer. Although I think bitcoin and eth are closed right now.

If you want exposure to crypto you could also buy microstrategys. They keep a large amount of their treasury in bitcoin. 

You could also buy COIN which is coinbase ticker symbol. They are one of the largest crypto exchanges in the world.

[easilyscan 559]

17 hours ago, Cdub100 said:

Just so you know you're investing into a company who buys bitcoin cash. Just so you know bitcoim cash is NOT bitcoin. It's different.

If you want to get into BCH and don't want to buy the token yourself than yeah that's a fine stock. 

I would recommend you check out some of their other trusts they offer. Although I think bitcoin and eth are closed right now.

If you want exposure to crypto you could also buy microstrategys. They keep a large amount of their treasury in bitcoin. 

You could also buy COIN which is coinbase ticker symbol. They are one of the largest crypto exchanges in the world.

Thanks for the reply/info.

Someone @ another forum also told me that I'm not actually investing in bitcoin.

I bought 100 shares yesterday. My fault for not doing enough research. 

I'll consider MSTR. I owned that stock many years ago.

[Cdub100 3,383]

2 minutes ago, easilyscan said:

Thanks for the reply/info.

Someone @ another forum also told me that I'm not actually investing in bitcoin.

I bought 100 shares yesterday. My fault for not doing enough research. 

I'll consider MSTR. I owned that stock many years ago.

Bitcoin Cash is still good to own and has had a great run-up. 

[tanatastic 2,061]

My last offer, PayPal me 200$ and I will sell my shares of coinbase, causing the price to jump up. That gets me back to even.

[Cdub100 3,383]

29 minutes ago, tanatastic said:

My last offer, PayPal me 200$ and I will sell my shares of coinbase, causing the price to jump up. That gets me back to even.

I'll send you 1 doge.

[GutterBoy 2,281]

BUY BUY BUY

[edjr 5,567]

18 minutes ago, GutterBoy said:

BUY BUY BUY

Welcome back  

[GutterBoy 2,281]

Just now, edjr said:

Welcome back  

Thanks.  I got out of my timeout.  I'll need to be nicer to people to avoid any future punishment.

[edjr 5,567]

Just now, GutterBoy said:

Thanks.  I got out of my timeout.  I'll need to be nicer to people to avoid any future punishment.

It's not easy to be nice to people around here.

[tubby_mcgee 686]

Here's someone's opinion...

https://fortune.com/2021/04/25/bitcoin-btc-value-drop-use-case-currency-digital-gold/

 

And I know... I know ... The article is all wrong.   The author is a dipshit and nothing he says has any merit. 

One quote from article:

De Vries adds that Bitcoin performs poorly at the checkout counter. If you were to buy $100 in groceries using Bitcoin, it may take an hour to receive adequate confirmation. During that period, the store is at risk for any change in the price. "The price of Bitcoin could drop 10% in that hour, causing a loss for the retailer," says de Vries. "And the customer is paying the processing fee of $20 or even more." His conclusion: Unless you're using it to buy something with a luxury price tag, like a digital NFT artwork or a Tesla SUV, paying with Bitcoin is "hellishly expensive, and an extremely unfriendly user experience."

[tubby_mcgee 686]

On 4/19/2021 at 7:06 AM, Mrs. Voltaire said:

Tell that to those of us that have increased their net worth by 1000.

Deny all you want, we're going to the moon.

A poker game is also a viable source to increase your net worth quickly also, right ? 

[edjr 5,567]

1 hour ago, tubby_mcgee said:

A poker game is also a viable source to increase your net worth quickly also, right ? 

scratch tickets are better

[Frozenbeernuts 1,652]

Price back above 53k. I bought more at 49k. The pattern really isn't that hard to follow once you buy into bitcoin being a major part of the future

[Cdub100 3,383]

13 hours ago, tubby_mcgee said:

Here's someone's opinion...

https://fortune.com/2021/04/25/bitcoin-btc-value-drop-use-case-currency-digital-gold/

 

And I know... I know ... The article is all wrong.   The author is a dipshit and nothing he says has any merit. 

One quote from article:

De Vries adds that Bitcoin performs poorly at the checkout counter. If you were to buy $100 in groceries using Bitcoin, it may take an hour to receive adequate confirmation. During that period, the store is at risk for any change in the price. "The price of Bitcoin could drop 10% in that hour, causing a loss for the retailer," says de Vries. "And the customer is paying the processing fee of $20 or even more." His conclusion: Unless you're using it to buy something with a luxury price tag, like a digital NFT artwork or a Tesla SUV, paying with Bitcoin is "hellishly expensive, and an extremely unfriendly user experience."

I couldn't read the whole thing due to pay ban. Bitcoin isn't a currency. Anyone who has spent more than 5 minutes in this field will tell you that. His groceries example isn't very good either. Checks do not clear immediately. Credit doesn't either, because the risk is moved from the store to the bank. He talked about the crash last year when literally every single thing dropped. I'm not sure how that's bitcoins fault. Again anyone who's looked at a chart can see when there are black swans or major drops in the market everything is affected. 

As for user experience yeah I can see that. It's still early. The internet wasn't very user-friendly at first either, but it got better. Right now buying bitcoin has become easier with paypal, square, etc... I can see apply and goolge making crypto wallets native to their eco system in the future.

You know what bitcoin does better than the current system? I can send bitcoin (or any crypto for that matter) to the other side of the world and it would clear faster than anything the banks can do. The fact that bitcoin has grown 200% year over year is a testament to its store of value and wealth creation. 

Bitcoin is digital gold. It does everything gold does finically but better. The author doesn't need to like bitcoin, but he's probably one of the last people on earth to think this way. 

[Cdub100 3,383]

6 hours ago, Frozenbeernuts said:

Price back above 53k. I bought more at 49k. The pattern really isn't that hard to follow once you buy into bitcoin being a major part of the future

Same I bought at 51k and more at 50.1k

[tubby_mcgee 686]

So can the entire population make money with bitcoin? If 100% of the folks on earth bought bitcoin...we'd all make money, right?

[Cdub100 3,383]

15 minutes ago, tubby_mcgee said:

So can the entire population make money with bitcoin? If 100% of the folks on earth bought bitcoin...we'd all make money, right?

Huh? 

[tubby_mcgee 686]

2 minutes ago, Cdub100 said:

Huh? 

Can everyone make money ? 

You made money but buying Bitcoin.  

Can everyone in the USA or the world

 ..make some money by buying Bitcoin? 

 

[Cdub100 3,383]

4 minutes ago, tubby_mcgee said:

Can everyone make money ? 

You made money but buying Bitcoin.  

Can everyone in the USA or the world

 ..make some money by buying Bitcoin? 

 

Every time bitcoin hits a new all-time high 99.99% of people who bought actual bitcoin are in profit. So in general, yes.

[Frozenbeernuts 1,652]

1 hour ago, tubby_mcgee said:

Can everyone make money ? 

You made money but buying Bitcoin.  

Can everyone in the USA or the world

 ..make some money by buying Bitcoin? 

 

Of course. People can buy and sell at different times. If 100% of the population bought a stock would they all make money?

[Frozenbeernuts 1,652]

The old way of banking and fiat currency controlled by the government is completely out of date. We need a new system to keep up with the times. Bitcoin will offer another option. It will not replace fiat completely, which its not trying to do. It will make a lot of areas more efficient

Certain parts of lending will become much easier, smoother and more efficient.

Transferring money across the globe. The old way is extremely antiquated and filled with issues, including western union taking a 10% cut right off the top.

Plus people who hold bitcoin do not have to worry about the government inflating the value whenever they feel like it. Bitcoin actually sounds more like a republican type of currency where the government is hands off and the market decides price.

[Frozenbeernuts 1,652]

I hear the arguments made for gold. Seriously, fock gold. You can't go out and just buy a bunch of gold. Its also not easy to transport around. Plus you can't just chip off little chunks to pay people with. Its inefficient as a payment system because you can't use it as payment. How many people globally have access to gold? Very few. How many people have access to bitcoin? Anyone with an internet connection. That sounds like a much better store of value, especially since it's being adopted more and more every day.

[nobody 2,044]

Speaking of fees.  Aren't the fees to buy crypto pretty ridiculous?

[Cdub100 3,383]

3 minutes ago, nobody said:

Speaking of fees.  Aren't the fees to buy crypto pretty ridiculous?

Depends on the platform. But what I think you're actually talking about is the ethereum gas fees.

[tubby_mcgee 686]

46 minutes ago, Frozenbeernuts said:

If 100% of the population bought a stock would they all make money?

Yes. 

Many stocks will pay you per share, a portion of the profit the company makes. 

And that is NOT true with Bitcoin. I'm not aware of any profit sharing with Bitcoin Corporation.  The ONLY money made, is by by people already "in" when they sell to someone else "coming in."

What you're saying is like saying 5 others came to my house to play poker. All 6 of us  threw in $50 and we all walked out with $75 each. 
 

[Hawkeye21 1,855]

1 hour ago, Frozenbeernuts said:

I hear the arguments made for gold. Seriously, fock gold. You can't go out and just buy a bunch of gold. Its also not easy to transport around. Plus you can't just chip off little chunks to pay people with. Its inefficient as a payment system because you can't use it as payment. How many people globally have access to gold? Very few. How many people have access to bitcoin? Anyone with an internet connection. That sounds like a much better store of value, especially since it's being adopted more and more every day.

Gold can be melted down into smaller amounts though.  Regardless of that, crypto has a better future.

[Cdub100 3,383]

15 minutes ago, Hawkeye21 said:

Gold can be melted down into smaller amounts though.  Regardless of that, crypto has a better future.

A Satoshi is a one hundred millionth of a bitcoin. 

Not to mention it's easier to break up bitcoin than melt gold into smaller units.

[Frozenbeernuts 1,652]

1 hour ago, Cdub100 said:

A Satoshi is a one hundred millionth of a bitcoin. 

Not to mention it's easier to break up bitcoin than melt gold into smaller units.

Dude, I know you have a smelter in your basement. Don't act like you aren't sitting at home with a Satoshi on one side of the scale and a gold flake on the other

[Cdub100 3,383]

1 minute ago, Frozenbeernuts said:

Dude, I know you have a smelter in your basement. Don't act like you aren't sitting at home with a Satoshi on one side of the scale and a gold flake on the other

You caught the tater

[Alias Detective 1,179]

2 hours ago, Cdub100 said:

A Satoshi is a one hundred millionth of a bitcoin. 

 

Says who?

[Cdub100 3,383]

2 minutes ago, Alias Detective said:

Says who?

Everyone. And if you don't like the name satosi call it whatever you want. The fact is one bitcoin can be broken up into insanely small pieces. More than gold could realistically do.