Board 8 > Bitcoin

(+) Yeah! (+)

Over $33,000 now... who's in on this?

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dogecoin is where it's at

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I don't understand bitcoin or any crypto-currency whatsoever.

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Its still stupid

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every few years people start talking about these again

what the fuck are bitcoins

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Punnyz posted...

every few years people start talking about these again

what the fuck are bitcoins

if you were one of the cool kids back in 2009-2010 you could mod your graphics card to literally print money and now if you held onto it you are a jazillionaire.

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Oh fuck..

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I don't even understand how to buy it
But there is a fund that follows the bitcoin on the OTC market so maybe I can buy this ($GBTC)

But this shit can drop 30% in an instant so no thanks

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I'm gonna rebuy after the next crash probably

I bought at $1000 and sold at $2000 a ways back, wishing i had dumped more in and left it there

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jcgamer107 posted...

dogecoin is where it's at

When dogecoin goes to 33k I will have more money than the entire western world

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redrocket posted...

if you were one of the cool kids back in 2009-2010 you could mod your graphics card to literally print money and now if you held onto it you are a jazillionaire.

Verified.

I was thinking 2020 would be a big year for crypto but THIS I never would have expected! Got to imagine the market has now peaked, but then again I've been saying that every week for the last two months.


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I'm still in from the last time it was a craze in late 2017. Glad I didn't sell my BitCoin but annoyed that I diversified with other Crypto (Ethereum and Litecoin). Still happy overall since I've more than doubled up since then.

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i actually know a guy that mined a good amount of coin way back when, but something weird was happening when he was trying to sell it off or transfer it.

like his old protocol/transfer request wasn't giving enough of a commission for anyone to be willing to process it, so it just never was.

i don't really know what i'm talking about though

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Crypto or otherwise, investing in currency seems dumb to me. It's basically gambling.

ZeldaTPLink posted...

Crypto or otherwise, investing in currency seems dumb to me. It's basically gambling.

Investing in anything is gambling...

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I have 0.5 Bitcoin that I bought for 4k as it was going up in Novembermber 2017

It's not worth 16k

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I just bought $50 in doge coin because its trending on Twitter

I have absolutely no idea how the value of this thing is determined, but I figure its low enough risk that maybe I can make some money off memes
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I wish I had $50 to literally set on fire and watch burn lol.

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Im up $1.28 already!

I dont think its likely to crash rapidly and permanently enough for me to actually have burned $50
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Waluigi1 posted...

I wish I had $50 to literally set on fire and watch burn lol.

It's more gambling than straight up setting it on fire. Regardless of if it is a good bed or not, if one is lucky, they can come out ahead.
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I mean there are people out there that have no problems dropping $50 on anime girl PNGs.

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Ngamer64 posted...

Verified.

I was thinking 2020 would be a big year for crypto but THIS I never would have expected! Got to imagine the market has now peaked, but then again I've been saying that every week for the last two months.

You a secret jazillionaire Ngamer?


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lol Im up $13 now
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Wait if you're up this much I gotta be rich

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Maybe! It legitimately went up like 20% since I bought it and when I bought it it was already up a bunch from wherever it was a day or two ago.
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How do I buy dogecoin?

Thinking about tossing $30. Expecting it to either be gone forever or will make me rich if it turns to bitcoin level meme

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SantaRPidgey posted...

When dogecoin goes to 33k I will have more money than the entire western world

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Aecioo posted...

Investing in anything is gambling...

I mean sure, but many investments are based on things that exist to grow. When you are investing a in a company, you are expecting to make money if it profits. The risk is the company not profitting, but you can manage that risk that by analysing the companies you're investing in.

Currency is basically a routelle that doesn't necessarily aim to grow, unlike a company. It can go up and down randomly and you're just trying to catch the moments it grows.

Investing is like gambling except you can count cards. I just started investing last year and I literally 4xed my entire wealth...almost 13xed but that's another story. So yeah, research pays off, though I also had a few dumb luck trades early on that WERE much more akin to straight up gambling. But hey, get in on the trend before it goes down (and set stop limits for those kinds of trades).

That said, I know nothing about crypto and need to put like a dozen hours of learning in before I go in deep, but it just seems like a crazy way to exponentially grow your wealth. People much smarter than me think it could reach 1 million dollars eventually. I'll just drop this here.

https://youtu.be/M8fLtmP7vUQ

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Investing is not gambling. I mean, sure, nothing is 100%, otherwise we would all put all of our money on that one stock we are sure is safe
So it's not "pure gambling" but there can be something of a luck in it

Alibaba for example is a super strong company and yet it's now 30% down from it's peak because CPP decided to investigate it for monopoly
Was it something that people expected a year ago? probably not
And this sort of thing can happen to any company even in the US. Facebook for example -
https://www.nytimes.com/2020/12/09/technology/facebook-antitrust-monopoly.html
Somehow it didn't affect the stock price, but it can

Other unforseen stuff can also happen like how the COVID pandemic affected travel and entertainement stocks
Hertz sucked a lot before the pandemic but it wasn't at a risk of bankrupt as far as I know..and look what happened

If investment doesn't have a little bit of a gambling in it, why won't I just put all my money into Apple stocks?

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The problem with cryptocurrency is that how are you supposed to use it. What I mean for example is that you go to a country, you have your local currency, then you change it to that country's currency at the bank or something. You can't do that with Crypto. Plus very few shops/retailers accept crypto. And almost no physical store accepts it. Good luck trying to buy items or pay bills with that.

So yeah I don't see the appeal. But you may say why it is so high then if it isn't good? Well this I can't explain. But I prefer to have 33.000 Euros instead of 1 Bitcoin myself.

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bitcoin is a currency that is being traded like a stock. Something used in a way that it wasn't intended towards is the definition of a bubble. Could bitcoin (or any crypto) work long term? Sure. Is it entirely based on speculation though? Right now absolutely.

Also keep in mind that December through Feb/early March is almost always the busiest time for markets like crypto and OTC stocks, which follow similar types of volume and price spikes.

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Waluigi1 posted...

I wish I had $50 to literally set on fire and watch burn lol

You can go pretty low stakes - I only did $10 on doge and btc each. Don't invest more than you can afford to lose basically.

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Just invest long-term in a broad index fund and it's not gambling at all
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I need to find a way to sell this. Not that I'm planning on selling it soon but I just have it in a wallet and should.orobabpy figure out a route to offload it if I want to slash need to

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I've noticed there are two kinds of bitcoin owners.

Those that have made some money and never stop talking about it.

Those that have some secretive amount and get really offended if you ask how many.

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https://www.youtube.com/watch?v=xK3yuxrmCac

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jcgamer107 posted...

dogecoin

Much wow!

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