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Bitcoin and Crypto-currency


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2017 Nov 5, 3:36pm   105,938 views  521 comments

by BayArea   ➕follow (1)   💰tip   ignore  

#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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425   RWSGFY   2020 Aug 17, 11:08am  

Newbie123 says
Eric Holder says
Bitcoin is idiotic.


🤣 says the guy who will miss out big time on this crypto bull run.


Which "bull" run? Most of the bitcoin idiots are still underwater since buying the previous "bull run". 🤣

And, judging by your inability to show a single screenshot of you winning a single penny at that table, you are one of them. Which explains the desperate and childish (and failing) attempts to stoke FOMO in patnet readers.
426   rocketjoe79   2020 Aug 17, 11:24am  

Musk will mine asteroids if it makes money to settle Mars with a million people. He is singularly focused on one goal, which drives all other activities.
In the meantime, he's kinda busy making money with Cars, Space Launches, Boring Company, and Internet in space (Starlink.) So he can get us to Mars.

Bezos has already commented he will be in the space mining market too.
427   WookieMan   2020 Aug 17, 4:24pm  

Newbie123 says
A 100k per bitcoin seems very reasonable within this bull cycle.

Lol to the max! Or moon!! lol.

Newbie123 says
Btw, the exchange Binance (one of the major exchanges) just reported that system traffic far exceeds 2017 (last bubble).

Holy shit! A website trading spreadsheets had more traffic? WFT!!!!! What have I been missing. In the news today JC Penny saw 60% more website traffic and 80% less sales. Holy fuck!.
428   Maga_Chaos_Monkey   2020 Aug 18, 9:33am  

Talk about your pump and dump. So much for that bull run.
429   Onvacation   2020 Aug 18, 10:56am  

Newbie123 says
will go to zero


Bitcoin is going to the MOON and beyond. It's fiat currency that is going to zero.
430   RWSGFY   2020 Aug 18, 12:14pm  

Onvacation says
Newbie123 says
will go to zero


Bitcoin is going to the MOON and beyond. It's fiat currency that is going to zero.


Word!
431   Maga_Chaos_Monkey   2020 Aug 19, 9:35am  

Not just a pump and dump but a pump and dump and dump...
432   Onvacation   2020 Aug 19, 12:54pm  

Newbie123 says
bitcoin trading at a few hundred bucks a few years ago

I thought it got up to $20,000?
433   Onvacation   2020 Aug 19, 12:55pm  

Newbie123 says
It will easily be 100k within the next 1-2 years

Why?

never mind
434   Eric Holder   2020 Aug 19, 12:58pm  

Onvacation says
Newbie123 says
It will easily be 100k within the next 1-2 years

Why?


Because!
435   RWSGFY   2020 Aug 19, 8:55pm  

Newbie123 says
People said 9 years ago bitcoin will never go up to 10 dollars.


Link or GTFO.
436   WookieMan   2020 Aug 20, 2:04am  

Newbie123 says
The only difference over time is: less bitcoin are being mined and more people and institutions buy bitcoin Or offer bitcoin exchanges.

What you fail to realize is there's the mining of BTC, and then there's the mental mining of actual humans who will buy or sell BTC. The emotion. FOMO. You'll get surges, so like I've always said you can make money trading it from lows to highs. But eventually you'll "mine" all the gullible people that think there's any value to BTC and no one will want it anymore because there's inherently no value to it. It's untrustworthy. And ultimately something better will come along.

Basically there will be no demand for it regardless of the finite supply because it does nothing for you besides having a digital spreadsheet in a safe deposit box.
437   Onvacation   2020 Aug 20, 5:49am  

WookieMan says
Basically there will be no demand for it regardless of the finite supply because it does nothing for you besides having a digital spreadsheet in a safe deposit box.
and it cost massive amounts of electricity to maintain. Pull the plug and bitcoin is gone.
438   Maga_Chaos_Monkey   2020 Aug 21, 9:34pm  

just_adhom_preaching says
Not just a pump and dump but a pump and dump and dump...


and yet more dump lol... Some guy I have on ignore keeps replying to my posts. Something about a new bull run starting? Haaaa..

I can only see it if I glance at patnet while I'm not logged in at work.
440   Cash   2020 Sep 7, 7:19am  

just_adhom_preaching says
LOLz...

9200+/- would be a .382 fibs re-tracement concerning this last rise and could go all the way down to "mean" 7275+/- and still not mean a whole lot
in the big picture just opportunity for those in or wanting to be in this market. I know if the price of a speculation/investment isn't closer to $10 instead
of $10,000 its way to rich for their blood to be in the game.
441   WookieMan   2020 Sep 7, 7:34am  

just_adhom_preaching says
I know if the price of a speculation/investment isn't closer to $10 instead
of $10,000 its way to rich for their blood to be in the game.

They're not shares. You can buy fractions of a bitcoin, so there's no barrier to entry at all with regards to the dollar(lol) amount an individual bitcon trades at. People can trade it all they want and make a lot of money, but this isn't gold like. I don't know how far in the future, but it will eventually be worthless. I don't believe I've personally said it would go to $0, but at some point it will get back down into the 100's for sure. Basically worthless from where it sits today and you'd be losing a fuck ton of money if you were heavily invested in it.
442   Onvacation   2020 Sep 7, 7:36am  

Cash says
could go all the way down to "mean" 7275+/- and still not mean a whole lot

Yep!
443   Patrick   2021 Aug 3, 10:23am  

https://www.eff.org/deeplinks/2021/08/cryptocurrency-surveillance-provision-buried-infrastructure-bill-disaster-digital

The Cryptocurrency Surveillance Provision Buried in the Infrastructure Bill is a Disaster for Digital Privacy
444   Bitcoin   2021 Aug 4, 2:45pm  

Patrick says
The Cryptocurrency Surveillance Provision Buried in the Infrastructure Bill is a Disaster for Digital Privacy


No.....the US hasnt and wont do anything that stifles Crypto innovation. Instead a Bitcoin ETF will be approved at some point. Media is always good for crypto FUD but just look at the past years and the progress......

Grayscale, Tesla, Microstrategies, even insurance companies and a crypto bank!

Today's news are already telling a different story:
https://www.marketwatch.com/story/senators-move-to-exempt-bitcoin-crypto-miners-from-proposed-u-s-tax-rules-11628102530?mod=home-page

“Digital assets are here to stay,” Lummis said in the press released. “While much more work needs to be done, this amendment is a responsible step toward fully incorporating digital assets into the U.S. financial sector.”
445   Maga_Chaos_Monkey   2021 Aug 5, 9:35am  

@cash you're correct and I apologize. I was tired and thought you edited my name. It was I who did that.
446   Bitcoin   2021 Sep 3, 12:44pm  

What happened to all the Bitcoin haters????

Quiet because Bitcoin is over 50k?

Aaaaah i know! The haters "dont care" when Bitcoin is UP.....they only care when Bitcoin is DOWN! Lol


447   richwicks   2021 Sep 3, 1:11pm  

Bitcoin says
What happened to all the Bitcoin haters????

Quiet because Bitcoin is over 50k?

Aaaaah i know! The haters "dont care" when Bitcoin is UP.....they only care when Bitcoin is DOWN! Lol


They don't care either way.
448   Bitcoin   2021 Sep 6, 9:36pm  

richwicks says
Bitcoin says
What happened to all the Bitcoin haters????

Quiet because Bitcoin is over 50k?

Aaaaah i know! The haters "dont care" when Bitcoin is UP.....they only care when Bitcoin is DOWN! Lol


They don't care either way.


Maybe you are new to the blog Richwicks....
whenever Bitcoin corrects the haters put their cheerleader gear on. They only care and hate on Bitcoin investors when Bitcoin offers a buying opportunity (correction). When bitcoin is up....they are suuuuuper quiet. Because then, they "dont care" all of a sudden
ROFL
450   richwicks   2023 Feb 22, 11:32am  

Bitcoin says

Maybe you are new to the blog Richwicks....
whenever Bitcoin corrects the haters put their cheerleader gear on. They only care and hate on Bitcoin investors when Bitcoin offers a buying opportunity (correction). When bitcoin is up....they are suuuuuper quiet. Because then, they "dont care" all of a sudden


@Bitcoin, I seriously think you're dead at this point. You first made fun of people who had suspicions of the vaccine, you had adverse reactions to the vaccine, you took advice from Rin, you STILL took another dose, and I've not seen you since.

Are you still alive?
451   zzyzzx   2023 Mar 23, 6:23am  

https://www.thestreet.com/investing/cryptocurrency/coinbase-announces-very-bad-news

The cryptocurrency exchange has just announced that it has received a notice from the Securities and Exchange Commission (SEC). This means that the regulator may bring an enforcement action against the largest U.S. crypto exchange.
452   Eric Holder   2023 Mar 23, 11:33am  

zzyzzx says

https://www.thestreet.com/investing/cryptocurrency/coinbase-announces-very-bad-news

The cryptocurrency exchange has just announced that it has received a notice from the Securities and Exchange Commission (SEC). This means that the regulator may bring an enforcement action against the largest U.S. crypto exchange.


KEEP YOUR DIRTY GRABBY FED PAWS OFF OUR SECOND GOLD!!!!
453   stereotomy   2023 Mar 23, 12:01pm  

Can someone donate a functioning keyboard to @Eric holder? He needs functioning cap keys. Just asking for a friend . . .
454   Eric Holder   2023 Mar 23, 12:54pm  

stereotomy says

Can someone donate a functioning keyboard to Eric holder? He needs functioning cap keys. Just asking for a friend . . .


I take donations only in physical PMs, thankyouverymuch.
455   stereotomy   2023 Mar 23, 1:32pm  

Eric Holder says

stereotomy says


Can someone donate a functioning keyboard to Eric holder? He needs functioning cap keys. Just asking for a friend . . .


I take donations only in physical PMs, thankyouverymuch.

Looks like he restored his keyboard functionality. Request rescinded.
456   Patrick   2023 Mar 23, 1:37pm  

No, seems like his space bar stopped working now.

Lol.
457   Eric Holder   2023 Mar 23, 2:37pm  

stereotomy says

Can someone donate a functioning keyboard to Eric holder? He needs functioning cap keys. Just asking for a friend . . .

Look who's talking-------------------------------------------^
458   EBGuy   2023 Mar 23, 11:54pm  

Pretty amazing how well crypto has performed during this crisis.


459   Misc   2023 Mar 24, 6:09am  

So the SEC gave a warning that there is a significant risk of loss on Crypto.

https://seekingalpha.com/news/3950596-sec-warns-of-significant-risk-of-loss-for-crypto-investors

I think it would be funnier than shit if Coinbase gave a warning that there is a significant risk of loss by investing in Bank stocks.
460   AD   2023 Mar 25, 9:43am  



461   AmericanKulak   2023 Mar 27, 9:31am  

Bitcoin says


whenever Bitcoin corrects the haters put their cheerleader gear on. They only care and hate on Bitcoin investors when Bitcoin offers a buying opportunity (correction). When bitcoin is up....they are suuuuuper quiet. Because then, they "dont care" all of a sudden
ROFL


You haven't heard from us Buttcoin fluffers because we're so busy spending our 30% losses YoY!

SUPERIOR! STORE! OF! VALUE!
462   1337irr   2023 Apr 7, 9:34am  

Misc says

So the SEC gave a warning that there is a significant risk of loss on Crypto.

https://seekingalpha.com/news/3950596-sec-warns-of-significant-risk-of-loss-for-crypto-investors

I think it would be funnier than shit if Coinbase gave a warning that there is a significant risk of loss by investing in Bank stocks.

How come it would be funny?
463   RWSGFY   2023 Apr 7, 9:39am  

Misc says

So the SEC gave a warning that there is a significant risk of loss on Crypto.

https://seekingalpha.com/news/3950596-sec-warns-of-significant-risk-of-loss-for-crypto-investors

I think it would be funnier than shit if Coinbase gave a warning that there is a significant risk of loss by investing in Bank stocks.


Stocks are stocks. Currency is currency. When your currency becomes as risky as stocks there's something wrong with it.
464   1337irr   2023 Apr 7, 9:46am  

Yeah, I don’t know if the dollar is a good bet these days given the deficit spending. Not sure at all on bitcoin, it seems risky.

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