Current Events > Bitcoin has hit the $8000 mark

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BignutzisBack
11/16/17 6:40:42 PM
#1:


getting that much closer to 5 million dollars a coin
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Lathissamus
11/16/17 6:41:38 PM
#2:


Are drug dealers responsible for this?
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Pepys Monster
11/16/17 6:41:47 PM
#3:


*Rubs hands together*
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Kaname_Madoka
11/16/17 6:42:24 PM
#4:


How does bitcoin value raising work?
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darkphoenix181
11/16/17 6:42:44 PM
#5:


have you cashed anything out yet?
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cerealbox760
11/16/17 6:42:47 PM
#6:


Lathissamus posted...
Are drug dealers responsible for this?

Nope. Unregulated free market.
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Cookie Bag
11/16/17 6:43:13 PM
#7:


Lathissamus posted...
Are drug dealers responsible for this?

Either that or child trafficking
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Talks
11/16/17 6:43:41 PM
#8:


Kaname_Madoka posted...
How does bitcoin value raising work?

rich people manipulate the price with very large trades
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BignutzisBack
11/16/17 6:44:33 PM
#9:


darkphoenix181 posted...
have you cashed anything out yet?


nah I I don't even have half a coin yet, I'm going to continue to buy until the price hits $10,000 a coin and then hold it no matter what for 8-10 years
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XplodnPnguins92
11/16/17 6:47:23 PM
#10:


jesus, wasn't it 7k like two weeks ago?
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darkphoenix181
11/16/17 6:48:23 PM
#11:


BignutzisBack posted...
darkphoenix181 posted...
have you cashed anything out yet?


nah I I don't even have half a coin yet, I'm going to continue to buy until the price hits $10,000 a coin and then hold it no matter what for 8-10 years


so here is the thing

if you bought $5000 of coin and cash out $3000 today
then it goes up again a few days later making your remaining $5000 worth $8000 again and you cash out another $3000
you made $1000 actual profit and still have $5000 coin there to keep this up

if instead you let your money sit in the coin for years, it could keep going up and up
or another coin could take its place, you hear about it dropping rapidly and rush to sale
and it is too late, you lost everything
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BignutzisBack
11/16/17 6:51:07 PM
#12:


darkphoenix181 posted...
BignutzisBack posted...
darkphoenix181 posted...
have you cashed anything out yet?


nah I I don't even have half a coin yet, I'm going to continue to buy until the price hits $10,000 a coin and then hold it no matter what for 8-10 years


so here is the thing

if you bought $5000 of coin and cash out $3000 today
then it goes up again a few days later making your remaining $5000 worth $8000 again and you cash out another $3000
you made $1000 actual profit and still have $5000 coin there to keep this up

if instead you let your money sit in the coin for years, it could keep going up and up
or another coin could take its place, you hear about it dropping rapidly and rush to sale
and it is too late, you lost everything


I hear you dude, I only put in money that wouldn't affect me if I lost it though. That's another reason I"m stopping once it hits $10,000 and that doesn't seem that far off. After that I will get back into the stock market tbh. So far I have been subpar taking advantage of the dips so I"m hesitant to take any chances selling
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CharlesBronson
11/16/17 6:52:11 PM
#13:


lol i made $1100 today from stocks alone why don't you invest like a responsible adult instead of throwing paper at a worthless asset
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darkphoenix181
11/16/17 6:53:25 PM
#14:


BignutzisBack posted...
I hear you dude, I only put in money that wouldn't affect me if I lost it though. That's another reason I"m stopping once it hits $10,000 and that doesn't seem that far off. After that I will get back into the stock market tbh. So far I have been subpar taking advantage of the dips so I"m hesitant to take any chances selling


well I am also saying you can draw out the profits every week to reimburse your investment while keeping the initial investment as coins

if it keeps rising and rising then you are basically drawing out free money every week or so
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darkphoenix181
11/16/17 6:53:52 PM
#15:


CharlesBronson posted...
lol i made $1100 today from stocks alone why don't you invest like a responsible adult instead of throwing paper at a worthless asset


is this actual cash in your hand?
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CharlesBronson
11/16/17 6:54:58 PM
#16:


darkphoenix181 posted...
CharlesBronson posted...
lol i made $1100 today from stocks alone why don't you invest like a responsible adult instead of throwing paper at a worthless asset


is this actual cash in your hand?

yes i could transfer it to my bank account if i wanted to
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darkphoenix181
11/16/17 6:56:10 PM
#17:


CharlesBronson posted...
darkphoenix181 posted...
CharlesBronson posted...
lol i made $1100 today from stocks alone why don't you invest like a responsible adult instead of throwing paper at a worthless asset


is this actual cash in your hand?

yes i could transfer it to my bank account if i wanted to


that doesn't sound like actual cash

so it is not actual money in your bank nor you holding bills?
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clearaflagrantj
11/16/17 6:57:01 PM
#18:


CharlesBronson posted...
darkphoenix181 posted...
CharlesBronson posted...
lol i made $1100 today from stocks alone why don't you invest like a responsible adult instead of throwing paper at a worthless asset


is this actual cash in your hand?

yes i could transfer it to my bank account if i wanted to

Funny I can exchange cryptos into fiat as well, fascinating.

I also made WAY more than $1100 today from my "worthless" assets
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CharlesBronson
11/16/17 6:57:12 PM
#19:


darkphoenix181 posted...
CharlesBronson posted...
darkphoenix181 posted...
CharlesBronson posted...
lol i made $1100 today from stocks alone why don't you invest like a responsible adult instead of throwing paper at a worthless asset


is this actual cash in your hand?

yes i could transfer it to my bank account if i wanted to


that doesn't sound like actual cash

so it is not actual money in your bank nor you holding bills?

of course it's not actual cash you think it's just going to appear in my hand?
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Kaname_Madoka
11/16/17 6:57:36 PM
#20:


Kaname_Madoka posted...
How does bitcoin value raising work?

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darkphoenix181
11/16/17 6:58:29 PM
#21:


CharlesBronson posted...
darkphoenix181 posted...
CharlesBronson posted...
darkphoenix181 posted...
CharlesBronson posted...
lol i made $1100 today from stocks alone why don't you invest like a responsible adult instead of throwing paper at a worthless asset


is this actual cash in your hand?

yes i could transfer it to my bank account if i wanted to


that doesn't sound like actual cash

so it is not actual money in your bank nor you holding bills?

of course it's not actual cash you think it's just going to appear in my hand?


so basically your stocks went up in value but are not actually cashed

so no

you did not make $1100

by the time you attempt to exchange this into money they could very well dip
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clearaflagrantj
11/16/17 6:59:43 PM
#22:


P.S. the Litecoin rocket ship is about to blastoff thanks to a confirmed atomic swap of LTC <-> BTC:

https://twitter.com/lightning/status/931277111490265088

See you boys at the moon.
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Kaname_Madoka
11/16/17 7:01:22 PM
#23:


clearaflagrantj posted...
P.S. the Litecoin rocket ship is about to blastoff thanks to a confirmed atomic swap of LTC <-> BTC:

https://twitter.com/lightning/status/931277111490265088

See you boys at the moon.

What does this mean
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gatorsPENSbucs
11/16/17 7:01:37 PM
#24:


clearaflagrantj posted...
P.S. the Litecoin rocket ship is about to blastoff thanks to a confirmed atomic swap of LTC <-> BTC:

https://twitter.com/lightning/status/931277111490265088

See you boys at the moon.

Just bought 2. Thinking about getting a couple more but well see.

And that was kinda nice seeing after I bought them. I dont do this type of shit at all.
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BignutzisBack
11/16/17 7:05:26 PM
#25:


CharlesBronson posted...
lol i made $1100 today from stocks alone why don't you invest like a responsible adult instead of throwing paper at a worthless asset


I will be bugging you for automation stock advice as soon as bitcoin hits 10 grand, I already have you tagged as automation stock guy lol
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clearaflagrantj
11/16/17 7:05:51 PM
#26:


Kaname_Madoka posted...
clearaflagrantj posted...
P.S. the Litecoin rocket ship is about to blastoff thanks to a confirmed atomic swap of LTC <-> BTC:

https://twitter.com/lightning/status/931277111490265088

See you boys at the moon.

What does this mean

You will be able to easily swap out BTC for LTC and vice versa without a fee and without long transaction times. Right now BTC has an issue with scalability, if you move BTC the fee is relatively high (~$5-$10) and it will take a couple of hours to get multiple confirmations of the transaction. Litecoin is faster. So as an application you can have BTC as your "savings account" store of value where you lock away all your money, and when you need to buy a coffee you can atomic swap to LTC which would act as a "checking account" to purchase it with an incredibly fast confirmation and a very inexpensive fee.
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clearaflagrantj
11/16/17 7:08:44 PM
#27:


gatorsPENSbucs posted...
clearaflagrantj posted...
P.S. the Litecoin rocket ship is about to blastoff thanks to a confirmed atomic swap of LTC <-> BTC:

https://twitter.com/lightning/status/931277111490265088

See you boys at the moon.

Just bought 2. Thinking about getting a couple more but well see.

And that was kinda nice seeing after I bought them. I dont do this type of shit at all.


I would buy as many as you intend to right now, ETH and LTC are both ready to blast off into the stratosphere. Trust me when I say time in the market is way better than timing the market. I dipped my toes into LTC when it was $30, then I caved in and dumped a shitload of money when it was $50, I wish I bought in the moment I started with cryptos.
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Kaname_Madoka
11/16/17 7:10:00 PM
#28:


clearaflagrantj posted...
Kaname_Madoka posted...
clearaflagrantj posted...
P.S. the Litecoin rocket ship is about to blastoff thanks to a confirmed atomic swap of LTC <-> BTC:

https://twitter.com/lightning/status/931277111490265088

See you boys at the moon.

What does this mean

You will be able to easily swap out BTC for LTC and vice versa without a fee and without long transaction times. Right now BTC has an issue with scalability, if you move BTC the fee is relatively high (~$5-$10) and it will take a couple of hours to get multiple confirmations of the transaction. Litecoin is faster. So as an application you can have BTC as your "savings account" store of value where you lock away all your money, and when you need to buy a coffee you can atomic swap to LTC which would act as a "checking account" to purchase it with an incredibly fast confirmation and a very inexpensive fee.

Interesting

I only have 15 bucks bitcoin lol
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clearaflagrantj
11/16/17 7:12:18 PM
#29:


Kaname_Madoka posted...
Interesting

I only have 15 bucks bitcoin lol

x9dUvCu
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metralo
11/16/17 7:18:28 PM
#30:


i bought about 15 dollars worth of ltc a month ago.maybe ill put some more in
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cerealbox760
11/16/17 7:25:55 PM
#31:


clearaflagrantj posted...
gatorsPENSbucs posted...
clearaflagrantj posted...
P.S. the Litecoin rocket ship is about to blastoff thanks to a confirmed atomic swap of LTC <-> BTC:

https://twitter.com/lightning/status/931277111490265088

See you boys at the moon.

Just bought 2. Thinking about getting a couple more but well see.

And that was kinda nice seeing after I bought them. I dont do this type of shit at all.


I would buy as many as you intend to right now, ETH and LTC are both ready to blast off into the stratosphere. Trust me when I say time in the market is way better than timing the market. I dipped my toes into LTC when it was $30, then I caved in and dumped a shitload of money when it was $50, I wish I bought in the moment I started with cryptos.

I spent $5000 on ETC last week. And now I regret not spliting $2500 of LTC/ETC instead.
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Cj_WlLL_VVlN
11/16/17 7:30:06 PM
#32:


Kaname_Madoka posted...
How does bitcoin value raising work?


Giant bubble. People buy it expecting it to raise. Next person sees the raise and buys expecting a raise. Eventually someone will realize it's not actually currency and it'll all come crashing down.
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Kaname_Madoka
11/16/17 7:33:31 PM
#33:


Cj_WlLL_VVlN posted...
Kaname_Madoka posted...
How does bitcoin value raising work?


Giant bubble. People buy it expecting it to raise. Next person sees the raise and buys expecting a raise. Eventually someone will realize it's not actually currency and it'll all come crashing down.

I'm selling once it hits 30 probably

Thats 200% profit
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cerealbox760
11/16/17 7:33:39 PM
#34:


Cj_WlLL_VVlN posted...
Giant bubble. People buy it expecting it to raise. Next person sees the raise and buys expecting a raise. Eventually someone will realize it's not actually currency and it'll all come crashing down.

its like the price of gold. hype keep the prices inflated. So as long as people are talking about bitcoin, bitcoin will continue to rise in value.
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Cj_WlLL_VVlN
11/16/17 7:35:05 PM
#35:


Kaname_Madoka posted...
Cj_WlLL_VVlN posted...
Kaname_Madoka posted...
How does bitcoin value raising work?


Giant bubble. People buy it expecting it to raise. Next person sees the raise and buys expecting a raise. Eventually someone will realize it's not actually currency and it'll all come crashing down.

I'm selling once it hits 30 probably

Thats 200% profit


Ive bought in and sold a few times making pretty good money. Sub 50 eth... Mmmm.

Im just saying it's a risk. To me it's gambling and not actual finance advise.
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clearaflagrantj
11/16/17 7:38:37 PM
#36:


cerealbox760 posted...
clearaflagrantj posted...
gatorsPENSbucs posted...
clearaflagrantj posted...
P.S. the Litecoin rocket ship is about to blastoff thanks to a confirmed atomic swap of LTC <-> BTC:

https://twitter.com/lightning/status/931277111490265088

See you boys at the moon.

Just bought 2. Thinking about getting a couple more but well see.

And that was kinda nice seeing after I bought them. I dont do this type of shit at all.


I would buy as many as you intend to right now, ETH and LTC are both ready to blast off into the stratosphere. Trust me when I say time in the market is way better than timing the market. I dipped my toes into LTC when it was $30, then I caved in and dumped a shitload of money when it was $50, I wish I bought in the moment I started with cryptos.

I spent $5000 on ETC last week. And now I regret not spliting $2500 of LTC/ETC instead.

Why on God's Earth would you buy $5000 worth of ETC.

Cj_WlLL_VVlN posted...

Giant bubble. People buy it expecting it to raise. Next person sees the raise and buys expecting a raise. Eventually someone will realize it's not actually currency and it'll all come crashing down.


1. No

2. People realize that USD is inflationary and that every year a dollar has less buying power, yet every year one bitcoin seems to increase in value roughly tenfold. 17 million of 21 million total bitcoins have already been mined, there is a mad scramble to get the remaining 4. Institutional money pours in, mass adoption frenzy runs rampant, people flood into crypto currencies. Meanwhile you realize your paper money is now as useful as German marks, you end up homeless on the streets, begging passerbys to deposit just a few Satoshis into your Trezor.
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Ouned
11/16/17 7:42:07 PM
#37:


darkphoenix181 posted...
or another coin could take its place, you hear about it dropping rapidly and rush to sale
and it is too late, you lost everything

Doesn't make sense, most other coins' values are too heavily tied to Bitcoin, and the ones that aren't usually aren't raw currency like Bitcoin is (and are rather just assets that are traded for money).

Just not realistic for anything to take its place, especially when so many altcoins have high amount caps (as in, the amount of them that can be created tends to be higher than the amount of Bitcoins that can be created; unlike real money, the amount is finite by design).
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Crazyman93
11/16/17 7:48:50 PM
#38:


clearaflagrantj posted...
Cj_WlLL_VVlN posted...

Giant bubble. People buy it expecting it to raise. Next person sees the raise and buys expecting a raise. Eventually someone will realize it's not actually currency and it'll all come crashing down.

1. No

Yeah, because the last time things were being traded on an unregulated market everything turned out GREAT! Black Thursday certainly never happened.
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cerealbox760
11/16/17 8:01:48 PM
#39:


clearaflagrantj posted...

Why on God's Earth would you buy $5000 worth of ETC.

Is that too much? My pull out game is strong.
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gatorsPENSbucs
11/16/17 8:13:07 PM
#40:


clearaflagrantj posted...
Why on God's Earth would you buy $5000 worth of ETC.

Was lookin at that one too but I like being able to buy a whole 1. Its something over $300 now, worth it to buy a whole one?

Or should I just buy 2 more lite?
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cerealbox760
11/16/17 8:23:32 PM
#41:


gatorsPENSbucs posted...
clearaflagrantj posted...
Why on God's Earth would you buy $5000 worth of ETC.

Was lookin at that one too but I like being able to buy a whole 1. Its something over $300 now, worth it to buy a whole one?

Or should I just buy 2 more lite?

Get LTC.
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clearaflagrantj
11/16/17 8:48:01 PM
#42:


gatorsPENSbucs posted...
clearaflagrantj posted...
Why on God's Earth would you buy $5000 worth of ETC.

Was lookin at that one too but I like being able to buy a whole 1. Its something over $300 now, worth it to buy a whole one?

Or should I just buy 2 more lite?

You said ETC, which is Ethereum Classic, I think you mean ETH which is Ethereum
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clearaflagrantj
11/16/17 8:48:21 PM
#43:


And Ethereum is probably the best crypto to own period.
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BignutzisBack
11/16/17 8:49:19 PM
#44:


clearaflagrantj posted...
And Ethereum is probably the best crypto to own period.


wut how much do you think it will hit pricewise?
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kinetika_
11/16/17 8:50:04 PM
#45:


clearaflagrantj posted...
And Ethereum is probably the best crypto to own period.


Even after the whole BTC/LTC thing that just happened?
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cerealbox760
11/16/17 9:02:21 PM
#46:


clearaflagrantj posted...
gatorsPENSbucs posted...
clearaflagrantj posted...
Why on God's Earth would you buy $5000 worth of ETC.

Was lookin at that one too but I like being able to buy a whole 1. Its something over $300 now, worth it to buy a whole one?

Or should I just buy 2 more lite?

You said ETC, which is Ethereum Classic, I think you mean ETH which is Ethereum

youre right. my mistake.
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doomcrusader
11/16/17 9:10:14 PM
#47:


@clearaflagrantj

What makes you think Eth will explode relative to Bitcoin or Litecoin? I don't know much about Eth or Lite but I don't see much hype surrounding them.
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cerealbox760
11/16/17 9:24:20 PM
#48:


American Express is setting up blockchain technology with Ripple. Ripple coins are 20 cents each. Bout stack some Ripple just in case it blows up. big banks want a piece of that pie. brb.

http://fortune.com/2017/11/16/amex-payments-ripple-blockchain/
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cerealbox760
11/16/17 9:30:29 PM
#49:


doomcrusader posted...
hat makes you think Eth will explode relative to Bitcoin or Litecoin? I don't know much about Eth or Lite but I don't see much hype surrounding them.

ETH is still in its infancy. A year ago it was worth $9.00. Now its at $330 and its growing.
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pres_madagascar
11/16/17 9:31:39 PM
#50:


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