So like...maybe it's time for me to just admit...bitcoin > physical.

[thor_rider08]

In the early days I owned 4000 of them for fun... never thought it would have become this.. shoot myself in the foot I should have at least kept 10%-15% since it was so menial then but I honestly agree with you ninja never thought it would happen... or be allowed to happen.

One of the biggest mistakes I have made (not holding 15%)... oh well.

[ninjacookies]

Originally Posted by thor_rider08

In the early days I owned 4000 of them for fun... never thought it would have become this.. shoot myself in the foot I should have at least kept 10%-15% since it was so menial then but I honestly agree with you ninja never thought it would happen... or be allowed to happen.

One of the biggest mistakes I have made (not holding 15%)... oh well.

Ouch. I hear you though, they just seemed so extremely trivial back in the day when people could readily mine them with a dual pc farm. Thems were the days.

Still remember those youtube videos around 2009 with the guys having 15 cpu mining rigs taking up half their living rooms with 20 floor fans blaring 24 hours a day. I thought those guys were absolutely out of their minds, but it was intriguing.

Then there's the guy that paid 10,000 bitcoins for a pizza. I wonder if he's still alive til this day or off'd himself.

[otmack2o]

Continuing to rise... Bitcoin may hit $2,000 at some point this month!

[ninjacookies]

Originally Posted by otmack2o

Continuing to rise... Bitcoin may hit $2,000 at some point this month!

Lol, I had a feeling.

Hindsight is a mf'er. Hopefully some of you got in when I made the thread...

[smackvay]

from a couple trusted sources
$10,000 bitcoin in the next 24 months

Mike

[ninjacookies]

Originally Posted by smackvay

from a couple trusted sources
$10,000 bitcoin in the next 24 months

Mike

I used to think those projections were asinine back in the day.

But it's basically almost doubled in the few months and crashed through the previous ATH with virtually zero resistance. Makes me sick thinking about how it was sitting at around $300 a little over a year ago for what seemed like the longest, lol.

One thing it does have going for it is that there is a capped supply. 21 million, though it may seem large on the surface, is quite a small amount on a grand scale. And only about 15 mill have been mined thus far.

My biggest turnoff has been all the scamming by big exchanges. Definitely an industry where you have to do your due diligence and protect your assets at all costs.

[otmack2o]

Psssst...

LTC is out of control. Rising in LTC/BTC value and even moreso LTC/USD value.

[ninjacookies]

Originally Posted by otmack2o

Psssst...

LTC is out of control. Rising in LTC/BTC value and even moreso LTC/USD value.

Segwit activation.

I got in at around 7 and sold at ~11 a few weeks ago when activation started and was over around 75% complete. Got tired of waiting and cashed out thinking the market was dumping.

Now that it's fully activated, I don't know how much room there is left on the bone. But I'm not touching it at these current prices lol.

[otmack2o]

Originally Posted by otmack2o

Continuing to rise... Bitcoin may hit $2,000 at some point this month!

Not really even any resistance... wow!

[kyle121592]

All I can say is....WOW!

This has been crazy to watch. Absolutely unbelievable.

[Boo]

https://finance.yahoo.com/news/bitco...104600620.html

[IronMonkey415]

I heard you use a computer and leave it on overnight and have it find bitcoins for you.

[kyle121592]

There are still plenty of alt coins out there that are somewhat interesting.

[ohio_mba]

I just recently created accounts for Coinbase.com and BitStamp.net as the recent happenings in cryptocurrency have intrigued me. I am a complete newb at this but my hope is to buy either XRP or Ethereum and just sit on it. I just have to figure out how to store them so that it doesn't get "hacked" and taken.

[hairyharold]

I bought 2 ether coins when they were at 50. wish i put more into it lol

Originally Posted by ohio_mba

I just recently created accounts for Coinbase.com and BitStamp.net as the recent happenings in cryptocurrency have intrigued me. I am a complete newb at this but my hope is to buy either XRP or Ethereum and just sit on it. I just have to figure out how to store them so that it doesn't get "hacked" and taken.

[TheOneRingKing]

I've been intrigued by Bitcoin but wouldn't invest at these prices since it lost over $600 in a couple days, the swings are huge with the chance of this in the future still being blocked. Gold has been stagnant for a few years now I know. But keep in mind if a hacker breaks into one of these cryptocurrency accounts you have nothing. Unless someone breaks into your home you still have a rare metal with intrinsic value, certain cases numismatic value. When the housing market bursts again or we are at war (which looks like a certainty in the next year or two) then gold will rise when markets crash like in 08. The numbers that show economic growth are inflated to inspire confidence when really you go out in the real world and think for yourself you can see how many empty storefronts there are, how many people are not at work during a typical Monday - Friday work week due to either shorter hours or unemployed, the average American is living paycheck to paycheck despite having the big house and fancy new leased car. With no savings, student loan debt and being laid off they are potentially out on the streets. The numbers say one thing my eyes see something else entirely.

I apologize for getting away from bitcoin at the end but just wanted to give a different opinion for everyone to think on a minute. By the way I'm not responding to any previous post on here this is just how I see investments and why I personally think Bitcoin is not a smart play.

[nabzy28]

Originally Posted by TheOneRingKing

I've been intrigued by Bitcoin but wouldn't invest at these prices since it lost over $600 in a couple days, the swings are huge with the chance of this in the future still being blocked. Gold has been stagnant for a few years now I know. But keep in mind if a hacker breaks into one of these cryptocurrency accounts you have nothing. Unless someone breaks into your home you still have a rare metal with intrinsic value, certain cases numismatic value. When the housing market bursts again or we are at war (which looks like a certainty in the next year or two) then gold will rise when markets crash like in 08. The numbers that show economic growth are inflated to inspire confidence when really you go out in the real world and think for yourself you can see how many empty storefronts there are, how many people are not at work during a typical Monday - Friday work week due to either shorter hours or unemployed, the average American is living paycheck to paycheck despite having the big house and fancy new leased car. With no savings, student loan debt and being laid off they are potentially out on the streets. The numbers say one thing my eyes see something else entirely.

I apologize for getting away from bitcoin at the end but just wanted to give a different opinion for everyone to think on a minute. By the way I'm not responding to any previous post on here this is just how I see investments and why I personally think Bitcoin is not a smart play.

There's no room for logic with this Ponzi scheme. However, if those in it see it for what it is - a way to skim wealth from the uninformed - and turn them into profit before losing it all, you can come out way ahead. The thing is being able to get out and actually get the funds you are due. That crash was the result of just a few hundred "coins" being sold. If a few holders of a couple hundred "coins" decided it's time to cash out, the exchanges would crash or transactions would be massively delayed and the "value" would plummet upwards of 75%. As far as I'm concerned, I'm avoiding them. Why do I need to give all my personal info to an "exchange" to register that can (and some have) just disappear instantly? If I had to venture a guess, I'd think the banks are just manipulating them same as everything else. Let it run up, pull in the suckers, sell and smash the price, buy at huge discount. Wash, rinse and repeat.

If these "exchanges" had any reliability, I might look into it. Since they can just delay transactions, shut down, disappear altogether, etc., I'll pass for now. Best of luck to those willing to dive into this.

[TheOneRingKing]

I agree with you that it's a Ponzi scheme now , when it started was legit and the method of blockchain was a good idea but there are flaws. With gold or silver you can go to a local coin show, market and pay cash for your investment/collection and no info is exchanged. One example, I purchased a key date 5 coin set of Gold coins for $3400 cash at a local dealer a couple years ago. That set in the grade MS69 has a value of $14-16k depending on the market and buyer. There was a bitcoin exchange that was attacked and shut down already, was a total cluster for all involved.

If you can get in and actually make a decent profit shorting it then might be an investment for some but I will stay on the sidelines and watch the show. For all the stories of "I could have been a Bitcoin Millionaire" who really saved all those bitcoins when they had hundreds or thousands of them for very little investment? Where is someone living the high life now with their Bitcoins? It seemed for the longest time like it is more a niche for folks who use the dark or deep web. Now that Japan is setting up kiosks I can see potential for possible growth but just like tech stocks it can be deep six just as fast.

[nabzy28]

Originally Posted by TheOneRingKing

I agree with you that it's a Ponzi scheme now , when it started was legit and the method of blockchain was a good idea but there are flaws. With gold or silver you can go to a local coin show, market and pay cash for your investment/collection and no info is exchanged. One example, I purchased a key date 5 coin set of Gold coins for $3400 cash at a local dealer a couple years ago. That set in the grade MS69 has a value of $14-16k depending on the market and buyer. There was a bitcoin exchange that was attacked and shut down already, was a total cluster for all involved.

If you can get in and actually make a decent profit shorting it then might be an investment for some but I will stay on the sidelines and watch the show. For all the stories of "I could have been a Bitcoin Millionaire" who really saved all those bitcoins when they had hundreds or thousands of them for very little investment? Where is someone living the high life now with their Bitcoins? It seemed for the longest time like it is more a niche for folks who use the dark or deep web. Now that Japan is setting up kiosks I can see potential for possible growth but just like tech stocks it can be deep six just as fast.

The big money is, apparently, in starting up your own "exchange". From the babbling, nearly incomprehensible ramblings of some that I follow on YouTube, people are just starting their own cryptocurrencies, doing IPO type offerings, only selected accounts can short and the whole thing just screams of enormous scam from every angle. Just stack some servers in your basement and you're good to go. It's like watching them line up for the slaughter like the tech-bubble, housing market, etc. all over again. It seems like it's gone from 'maybe there's something to this' to completely absurd in about 2 months.

[TheOneRingKing]

Indeed. I just saw a new one called OneGram where it is backed by 1 gram of gold but it so far is only in the Dubai region. Not sure if it is a viable option but I do like the idea of it being backed by gold. Supposedly each person who invests shares in the wealth as more people join.

[Spider-Fan]

Originally Posted by TheOneRingKing

Indeed. I just saw a new one called OneGram where it is backed by 1 gram of gold but it so far is only in the Dubai region. Not sure if it is a viable option but I do like the idea of it being backed by gold. Supposedly each person who invests shares in the wealth as more people join.

Kinda like how the US dollar once was

[TheOneRingKing]

Yes. Would be nice if we could return to that but not holding my breath.

[ninjacookies]

Originally Posted by TheOneRingKing

I've been intrigued by Bitcoin but wouldn't invest at these prices since it lost over $600 in a couple days, the swings are huge with the chance of this in the future still being blocked. Gold has been stagnant for a few years now I know. But keep in mind if a hacker breaks into one of these cryptocurrency accounts you have nothing. Unless someone breaks into your home you still have a rare metal with intrinsic value, certain cases numismatic value. When the housing market bursts again or we are at war (which looks like a certainty in the next year or two) then gold will rise when markets crash like in 08. The numbers that show economic growth are inflated to inspire confidence when really you go out in the real world and think for yourself you can see how many empty storefronts there are, how many people are not at work during a typical Monday - Friday work week due to either shorter hours or unemployed, the average American is living paycheck to paycheck despite having the big house and fancy new leased car. With no savings, student loan debt and being laid off they are potentially out on the streets. The numbers say one thing my eyes see something else entirely.

I apologize for getting away from bitcoin at the end but just wanted to give a different opinion for everyone to think on a minute. By the way I'm not responding to any previous post on here this is just how I see investments and why I personally think Bitcoin is not a smart play.

It also gained 800. Nearly up 300% since I created this thread just a few months ago.

It's not going down. This is just the start. Naysayers have been proven wrong every step of the way. I was aboard that train at one point. No longer. The demand is there and too many people and corporations are invested. And unlike silver, the prices aren't being suppressed by banks and the higher ups in the FR.

Also, the 'somebody could steal my coins' argument is a very archaic method of thinking. Any information on your computer can be stolen if you are negligent with your belongings...just as your wallet or physical belongings can.

That is why cold storage was invented, as well as physical travel storage options.

I will agree that exchanges are scam central, but that is why you only leverage 5-10% of your stack at any time and do not hold for extended periods of time.


In any event, I've shifted all my money from bullion into the bitcoin/altcoin market and am ready for the ride. Not all can stomach that kind of risk, but I figure with how stagnant my silver holdings were (actually lost a significant amount of money) for the past 5 years, it was a no brainer putting it into blockchain technologies.

And I've done well so far. Very well.

[StraWMyerS]

Originally Posted by ninjacookies

It also gained 800. Nearly up 300% since I created this thread just a few months ago.

It's not going down. This is just the start. Naysayers have been proven wrong every step of the way. I was aboard that train at one point. No longer. The demand is there and too many people and corporations are invested. And unlike silver, the prices aren't being suppressed by banks and the higher ups in the FR.

Also, the 'somebody could steal my coins' argument is a very archaic method of thinking. Any information on your computer can be stolen if you are negligent with your belongings...just as your wallet or physical belongings can.

That is why cold storage was invented, as well as physical travel storage options.

I will agree that exchanges are scam central, but that is why you only leverage 5-10% of your stack at any time and do not hold for extended periods of time.


In any event, I've shifted all my money from bullion into the bitcoin/altcoin market and am ready for the ride. Not all can stomach that kind of risk, but I figure with how stagnant my silver holdings were (actually lost a significant amount of money) for the past 5 years, it was a no brainer putting it into blockchain technologies.

And I've done well so far. Very well.

Good for you man, I have been riding it out with physical, although I just have a modest stash. I can't say I was right about bitcoin, thought about taking the chance but overall the fear that government would attempt to shut it down kept me away.

At the end of the day, I don't feel too bad about it, it could have turned out differently but banks wound up seeing it as another asset class to pump up, so good for the people who got in.

I still would feel great about holding silver. There is very little risk (less than FIAT) with a potential for some nice gains down the road, and the suppression of the market offers the oppurtunity to stock up at a discount relative to the true scarcity of physical.

When demand shifts and people want something with intrinsic value, many will hope they had kept at least 10- 20% in physical gold and/or silver.

[jlovis]

Might hit $5,000 in the next 48 hours!