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Bitcoin / Cryptocurrency Discussion (And Predictions)

Discussion in 'Investing and Trading' started by James Fend, Nov 8, 2017.

  1. ksc23
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    Not sure why people are viewing Bitcoin going mainstream as a negative thing.

    The endgame of Bitcoin is to replace fiat currency - the more widespread it becomes the better.

    As more consumers exchange fiat for cryptocurrencies, I hope that incentivizes more businesses to start accepting cryptos as a form of payment for goods and services.

    edit:
    My assumptive thinking is that the anti-Bitcoin folks consist of either:
    1. People working in big finance whose industry is threatened by a decentralized currency
    2. People who passed on Bitcoin in the past and feel bitter about missing an opportunity to make 'easy money'

    To paraphrase Andreas Antonopoulos, the anti-Bitcoin folks are going through the five stages of grief:
    1. Denial ("Bitcoin? wtf lolol whatever")
    2. Anger ("Bitcoin is ponzi scheme! It's only for criminals, drug dealers, and anarchists!")
    3. Bargaining ("Well, we don't support Bitcoin but we see the value in blockchain technology...")
    4. Depression (time will tell)
    5. Acceptance (the end game)
     
    Last edited: Dec 6, 2017
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  2. c4n
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    There goes $13k... where's the limit to this thing?
     
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  3. Coalission
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    Just closed out the best swing trade of my life, an altcoin I had been holding for a few months popped, avg. ~$125k total cost basis, closed out for $410,931, almost 300k profit. Expecting a pullback in Bitcoin soon so won't keep it BTC for long.
     
  4. Gonzalo
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    I’ve seen bitcoin since it was in the $3000 and I’m really amazed how far it has grown. It really looks like it has a great potencial. however, I’m seeing a lot of new people getting into it ( like me) with comments like “I sold my 401k and invest it all in bitcoin” or “let’s keep buying we all gonna be rich soon” and it makes me wonder if this is a good thing at the moment.
    I’m not an expert at this, but seeing that so mAny people think that it will get all of them a lot of money soon makes me doubt a little. It has already made a few people rich and increase their income, but is it gonna keep doing it now that it go mainstream? More people buying more money can be made, but I’ve read there is a new thing coming this week, what’s your thoughts about it ?
     
  5. Vigilante
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    Yeah, but the issue is that its demand right now has more to do with people wanting to make a profit out of trading it, and not because they are interested in using it as a currency.

    It's not that it's not valuable. It's that a lot of its current "value" is due to a bubble.

    How many of those people buying it now are seriously doing it because they are sick and tired of using the U.S. dollar to make purchases?
     
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  7. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Oh man, hanging curve ball!!!!

    Dr.-Evil-One-Million-Dollars.png
     
  8. Coalission
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    Crazy thing is Tim Draper made that prediction that "Bitcoin will hit $10,000 in 3 years" back in September 2014, when it was trading in the $400s.
     
  9. Kingmaker
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    Same.

    Steam is no longer accepting Bitcoin due to high transaction fees.: Steam Community :: Group Announcements :: Steam Blog

    This is fairly big news and highlights the problem of Bitcoin for mass adoption. The coin with the smallest fees and fastest transactions will win out in the end imo.

    It doesn't look like Bitcoin or Ethereum right now (sadly, CryptoKitties exposed them by taking 25% of their network and congesting the hell out of it, and it's just ONE silly cat game). I think IOTA has 0 fee transactions, but is extremely slow. I hope Bitcoin Cash can solve both issues.
     
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  10. James Fend
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    So..............

    (literally the only words coming out of my mouth at the moment)
     
  11. MJ DeMarco
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    Admin Post
    A few hours later, and now > $14,000 ... this is insane.
     
  12. MrYoshi
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    Lol, so much for the dip. I don't see the point of putting down $1000 bucks on this anymore. I gotta wait for some sort of correction until I can put at least $1k in it.
     
  13. MrYoshi
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  14. Jake
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  15. B. Cole
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    Wow what a guinea pig. It could get worms and die, or it could start singing Sinatra while I shower. It’s fun nonetheless, and a good learning process for alt coin investing. Very fortunate are we to be here experiencing this. Along for the ride, however long my small investment will live.

    Very interesting to watch all of you banter back and forth over it, and it not do what even ya’ll expect. I believe it has everybody duped right now, it seems obvious to me that we are watching frantic people dump money in. Dumb people like me, but my investment in it was a measly 300 bucks a week ago just to play.

    What a ride. Sitting here watching Cramer trash it as one of his biggest fears for 2018 while the masses watch confused.
     
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  16. B. Cole
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    Side note - Craig Grant triggers my gag reflex. I really want to kick him in the dick.

    Sorry if that broke a rule. It was worth it.
     
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  17. DVU
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    On one hand, we all ask ourselves for how long?

    But then again, if it's going to replace the current currencies, the answer is a bit longer I think.
    Untitled-1.png
     
  18. Blair
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    Just sold my bitcoin, bought for $1000 few years ago. Not my core business and unsure how this aggressive price rise on a currency backed by no assets can continue coupled with I cant understand how people will ever 'trade' with bitcoin with such unstable pricing. (nobody wants to buy a car with BTC then in a weeks time have BTC worth 15% more). Was good good to see large return off doing nothing but easy money doesn't exist as far as im concerned so im out.
     
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  19. MakeMoreMoves
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    This Bitcoin thing is crazy. I am up several thousand. I just can't decide if this CME futures is good or bad. I see people comparing it the tulip bulb mania. Didn't the tulip bulb mania also have futures contract? I might sell all soon and take profits.

    Bubble or future? Idk
     
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  20. Vanderbilt
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    food for thought:

    today someone sent me a message with following Text:

    --Start--
    No Gov. Wants to lose their control over money .
    Bitcoin was originally created in order to get rid of centrally controlled traditional money system. Gov. didn't find any way to get any control over bitcoin transactions.

    So, Gov. made it illegal but that didn't help the popularity of bitcoin in black markets which rapidly spread to common citizens. Gov. has to come up with a master plan before bitcoin takes over the tradition money.

    Bitcoin has a limit that is 21 million up to which it can be mined. Gov's masterplan is to let some popular companies get involved with bitcoins that will uplift the value of bitcoin ( In less than 2 months bitcoin reached from 2000$ to 10000$ ).
    Now more and more people will stock bitcoins.
    At some peak these Gov. Controlled companies will pull their hands up or will go bankrupt and dissolve with showing any internal crisis . The value of bitcoin will fall unexpectedly .
    And all your money you invested in bitcoin will now belong to Gov. and your bitcoin will be worthless. Plus people will fear to trust cryptocurriencies again .

    Thats the only way bitcoin can lose .
    Powerful people in Gov. are shape shifting reptiles.
    --End--

    There is some logic in it, what you think?
     
  21. Jnforja
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    What about ripples guys? What's your opinion that ?
     
  22. JohnBuffet
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    Hey guys, bitcoin is currently at 15,970! So hard to guess what will happen.. I believe John Mcaffe said he thinks bitcoin will hit 1 million by 2020.. Novogratz predicts 40,000 by the end of 2018, and a lot of people say its going to crash!! Wow! Who knows!!!
     
  23. shubham525
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    So what about etherium.. it has been decreasing lately due to bitcoin go up so fast.. maybe when all this rapid grow slows down it will get some more attention
     
  25. mThree2K
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    I guess that people are pulling out there money off ETH and betting hard on Bitcoin.

    Enviado desde mi Mi Note 2 mediante Tapatalk
     
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