Bitcoin and Crypto-currency

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Bitcoin and Crypto-currency

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2017 Nov 5, 3:36pm 105,387 views 521 comments

#investing

Hi guys,

I'd like to start a conversation on crypto-currency, particularly Bitcoin.

What do you all think about it from an investment point of view today? I have some buddies in the finance world who are quite bullish on it and claim we are just scratching the surface. Judging by the recent performance, they may be right.

For people who are investing in Bitcoin, what are you using to invest and what recommendations do you have for a new investor?

Also, how are gains taxed compared to typical stock market gains?

I read this week that over 100,000 merchants in the USA are accepting Bitcoin today.

At the same time, digital currency does scare me a bit as it seems so abstract. Curious what PatNet thinks.

Thanks guys!

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BayArea 2017 Dec 13, 10:08pm

Well that’s all promising. Will update this thread shortly.

BayArea 2017 Dec 18, 9:15pm

Newbie,

I transferred BTC from GDAX to Binance.

Nothing showing up in Binance, no confirmation, nothing. Does this step take take for it to show up in Binance?

BayArea 2017 Dec 19, 10:47pm

Thanks newbie

It cleared on Binance after 2hrs or so.

I notice that bitcoin cash is being offered on coinbase now... after the massive run-up at opening, coinbase shut down trading (been that way for last few hrs)

joshuatrio 2017 Dec 20, 9:54am

BayArea says

Thanks newbie

It cleared on Binance after 2hrs or so.

I notice that bitcoin cash is being offered on coinbase now... after the massive run-up at opening, coinbase shut down trading (been that way for last few hrs)

I was trying to swap my LTC for BCH, and it wouldn't let me... BCH is going parabolic.

62 anonymous 2017 Dec 20, 11:06am

i'm going to invest $100 in each of those 1300 coins so i can become a billionaire 10 years from now.

NOT!

joshuatrio 2017 Dec 20, 2:11pm

BayArea says

I notice that bitcoin cash is being offered on coinbase now... after the massive run-up at opening, coinbase shut down trading (been that way for last few hrs)

I was finally able to trade all my LTC for BCH. So far so good. Coinbase is now working for BCH.

BayArea 2017 Dec 20, 11:10pm

joshuatrio says

BayArea says
I notice that bitcoin cash is being offered on coinbase now... after the massive run-up at opening, coinbase shut down trading (been that way for last few hrs)

I was finally able to trade all my LTC for BCH. So far so good. Coinbase is now working for BCH.

Interesting... not for me

How did you “trade” the two?

joshuatrio 2017 Dec 21, 5:18am

BayArea says

Interesting... not for me

How did you “trade” the two?

Sorry, not actually "trade" - sold one for the other.

joshuatrio 2017 Dec 21, 5:19am

Newbie123 says

Joshuatrio, I'd say that was a good move. Charlie Lee (Litecoin founder) selling his entire stake of Litecoin is def. not a bullish sign. I sold almost all of my LTC as well. Evaluating at the moment what my next investment will be. I like Cardano quiet a bit. Seems very promising. BCH def. seems to have upside. Will be interesting how the BTC vs BCH will play out.

That was kind of my thought as well. Also, BTC has such a grip on the crypto market that BCH actually seems like it could push LTC and the other alt coins out of the market.

I'm only speculating.

67 mell 2017 Dec 21, 7:29pm

Bitcoin going down like Broomcorn's uncle. Not surprised, as mentioned earlier it has been showing ponzi-scheme like appreciation. Lots of bagholders created at $19K-$17k. They are at the mercy of the remaining whales now.

68 mell 2017 Dec 21, 9:06pm

Newbie123 says

hope these bagholders did not end up selling at 13k. ;) looks like we all are getting big discounts tonight.

I don't think $13k is a discount but it has recovered some to $14800 as of now, so if you can trade those swings good for you. But with the amount of time the transactions take you have to be long for a while and I don't see it going back to $20k, on what valuation fundamentals?

BayArea 2017 Dec 22, 7:10am

Craaaaaaash lol

70 mell 2017 Dec 22, 7:29am

Just because something is getting accepted everywhere doesn't increase its value 10000 fold. Same for gold or fiat currency. Think Bitcoin is here to stay but such quick large swings could have been some whales cashing out.

BayArea 2017 Dec 22, 8:27am

Yes, 30%, 40% pullbacks won’t be uncommon, but people will be kicking themselves a year from now by not taking advantage of those pullbacks.

WatermelonUniversity 2017 Dec 22, 9:38am

Don’t care how low. Not touching that with a ten foot pole.

73 anonymous 2017 Dec 30, 1:04pm

FYI, use LTC for transfers from GDAX to Binance or Bittrex. I used ETH in the past and lately it’s taking forever. Just transferred some LTC over and it posted within 15 minutes!

74 anonymous 2017 Dec 30, 3:57pm

Bitcoin bubble is over, next step is Mooncoin!

75 anonymous 2018 Jan 5, 10:45am

anon_20dcf says

Bitcoin bubble is over, next step is Mooncoin!

Looks like bitcoin is starting another rally today. You guys should look into President Trump coin (pres). It’s up 350% over the last 24 hours.

joshuatrio 2018 Jan 5, 1:07pm

I think XRP is next.

Still holding my BCH, I'm at like break even right now. Debating on whether or not to keep it.

BayArea 2018 Jan 5, 4:03pm

BTC $17K
Ether flirting at $1K
Tripled my money on Ripple in just a couple weeks.

What's all the doom and gloom talk?

78 WildMind 2018 Jan 5, 4:15pm

What do you think of buying the GBTC etf vs the trouble of picking individual winners on Coinbase?

79 anonymous 2018 Jan 5, 5:11pm

It’s a time bomb waiting to explode at any moment.

A lot movie makers are already filming “Bitcoin part 2 - The Bust.” Part 1 was real inspirational though. I almost bought.

80 anonymous 2018 Jan 6, 4:24pm

anon_8044e says

It’s a time bomb waiting to explode at any moment.

A lot movie makers are already filming “Bitcoin part 2 - The Bust.” Part 1 was real inspirational though. I almost bought.

You might have to wait for the time bomb to explode a bit longer. Binance and bittrex are not accepting new users as they can’t handle the incredible demand. There are a lot of hungry newbies waiting on the sidelines to jump in. Plus, don’t forget the institutional money coming into the space. This baby has legs.

81 anonymous 2018 Jan 6, 4:24pm

WildMind says

What do you think of buying the GBTC etf vs the trouble of picking individual winners on Coinbase?

If you are new that might be interesting. FYI, coinbase is just offering 4 coins at the moment. If you want to invest in any other coins you would need to open an account on Binance or bittrex. Both exchanges are not accepting new users at the moment

82 anonymous 2018 Jan 6, 4:25pm

BayArea says

BTC $17K
Ether flirting at $1K
Tripled my money on Ripple in just a couple weeks.

What's all the doom and gloom talk?

Totally agree! It’s been a fantastic rally. These decentralized exchanges e.g. Zrx and Airswap look very interesting to me as well. There market caps are pretty low compared to others. I follow this guy crypto bobby and his portfolio for the most part which has been very profitable so far.

83 anonymous 2018 Jan 6, 4:25pm

joshuatrio says

I think XRP is next.

Still holding my BCH, I'm at like break even right now. Debating on whether or not to keep it.

I am holding my BCH. It’s still way down from it’s ATH. It disappointed lately but I am pretty sure we will see another run up once the volume comes on. Will take profits once it’s hits 3500 or so.

84 anonymous 2018 Jan 7, 8:32pm

Now You can sell your crypto account to desperate newbies who want to get in

https://www.finder.com/users-are-selling-their-binance-accounts-due-to-temporary-registrations-pause

85 anonymous 2018 Jan 7, 8:50pm

The whole pause in new account registrations is pretty fishy to me

Cryptos and blockchain are a technological revolution, but they can’t take your name and email and set you up with an account?

Seems as if they’re creating false scarcity at the same time supply has never been higher

Ethereum has been steaming recently.

86 anonymous 2018 Jan 8, 7:49am

“Cryptos and blockchain are a technological revolution, but they can’t take your name and email and set you up with an account?”

From an investor perspective I like that there is a halt of new money coming in at the moment. 2017 was an incredible year. The exchanges did not expect such a huge demand of new registrations. New users means more support tickets, more traffic on the servers, more people that need to be verified etc.

87 anonymous 2018 Jan 11, 9:05am

Nice dip....thank Korea for the buying opportunity.

MisdemeanorRebel 2018 Jan 11, 10:00am

mell says

Bitcoin going down like Broomcorn's uncle. Not surprised, as mentioned earlier it has been showing ponzi-scheme like appreciation. Lots of bagholders created at $19K-$17k. They are at the mercy of the remaining whales now.

Yep.

"Bitcoin will prevent the instability of Fiat Currency like the Dollar!!! Which is why it's gone from $17k to $13k in a short time. Hell, it moved ~$1,500 today!"

Here's an idea for currency: One whose value is linked to the total energy production of Humanity. The Kardashev.

89 anonymous 2018 Jan 12, 7:07pm

Crap, that dip did not last enough. Wanted to buy more

Patrick 2018 Jan 12, 7:29pm

TwoScoopsPlissken says

Here's an idea for currency: One whose value is linked to the total energy production of Humanity. The Kardashev.

I like this idea. In a way, energy is already the global currency, as oil. But it should be expressed in a more abstract way, megajoules maybe.

WatermelonUniversity 2018 Jan 15, 12:28pm

having mined over a million of bitcoins before anyone even had the chance Satoshi Nakamoto is a multi billionaires now. no wonder he disappeared.

he's slowing cashing out thanks to newer victims to his brilliant ponzi scheme.

joshuatrio 2018 Jan 16, 9:04am

Cryptos dipped hard last night. I bought more BCH this morning @ $2,058.

93 anonymous 2018 Jan 16, 11:36am

Bitcoin because not every investor can research.

CBOEtrader 2018 Jan 16, 11:40am

BorderPatrol says

having mined over a million of bitcoins before anyone even had the chance Satoshi Nakamoto is a multi billionaires now. no wonder he disappeared.

he's slowing cashing out thanks to newer victims to his brilliant ponzi scheme.

Maybe. I'd love to know the story behind this.

Thing is, the entire world is already used to fiat currency. Is this any different?

95 mell 2018 Jan 16, 11:51am

Ponzi scheme

96 anonymous 2018 Jan 16, 3:11pm

Blame it on MT.GOX

https://www.youtube.com/embed/K2ku1A5Ox8U

Hircus 2018 Jan 16, 3:20pm

Hm, this crypto crash is pretty violent. Might this be "the big one"?

I guess this was caused by China's threat to miners, yesterday?

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