Bitcoin

I was going to buy a bitcoin at $1800, kicking myself that I didn't. I did buy an Ether at $180 so that is working out OK so far, it's at around $300 I think. I use the Ethereum wallet locally on my machine, syncing is a bitch at first until you get the block holding your data. I bought in because I am a technolgy employee and just wanted to get in the game and learn about cryptocurrencies in general.

A buddy bought a bitcoin a few months back. He keeps bragging about it.

Was pretty close to pulling the trigger on a $15k chunk of Bitcoin a few years ago. Would have made $2.9 mil on the first big boom. Kick myself daily... haven’t really been following it too close the past year. Saw this thread and checked today’s price. I made a good return on the small amount I do have.

I was listening to John McAfee talk about how easy it is for someone to steal your bitcoins. Seems like it is way too easy to lose your bitcoins if you aren't a very competent computer coder.

FolkLoar wrote:

Was pretty close to pulling the trigger on a $15k chunk of Bitcoin a few years ago. Would have made $2.9 mil on the first big boom. Kick myself daily... haven’t really been following it too close the past year. Saw this thread and checked today’s price. I made a good return on the small amount I do have.

My dad did the same, he owns some now and a few others, but nothing like what he could of made it he pulled the trigger back when he was going to.

IWreckALot wrote:

I was listening to John McAfee talk about how easy it is for someone to steal your bitcoins. Seems like it is way too easy to lose your bitcoins if you aren't a very competent computer coder.

You just gotta keep them on a separate hard drive or computer that is not kept online.

I use coinbase. I don't have much in but bought Litecoin a couple months ago.

Hahaaa, I was one of those Nerds who had the Dedicated Puter doing the mining and when it finally found a code I was Like "Yeah!, never thought they would become as popular as they have become.


All the codes have been found now so there is no more, what is out there is all there is. That's why they have become so valuable.

Lotta copy cats but Bitcoin is the Horse of all of them. What helped is that some big end stores got involved and started taking Bitcoin as payment. they know that they will stay very valuable in years to come

Old-Man wrote:

Hahaaa, I was one of those Nerds who had the Dedicated Puter doing the mining and when it finally found a code I was Like "Yeah!, never thought they would become as popular as they have become.


All the codes have been found now so there is no more, what is out there is all there is. That's why they have become so valuable.

Lotta copy cats but Bitcoin is the Horse of all of them. What helped is that some big end stores got involved and started taking Bitcoin as payment. they know that they will stay very valuable in years to come

Yup. I watched a pretty good documentary on bit coin. The mines in china pulling in all the coins are incredible. Love the value of the coin because they aint making anymore, but then you got the hogs hording them all so it's ridiculously hard to get any. All I know is tons of economic geniuses have said its the best currency in the world. Wish I had some...

We talked about this A few years back

I'm kicking myself now because I was using bitcoin for so long, never really understanding it or paying attention to it at all. I was playing a lot of online poker and my bank didn't allow for those transfers so a buddy told me about bitcoin. I basically used it as my online gambling bankroll for a year or so, the entire time thinking it was basically a PayPal alternative. I had a pretty good cashout in a tournament and sold what I had to get the cash.

I recently decided to buy $100 worth of bitcoin just to get in the game and learn more like someone said above. Seems like a pretty interesting thing going on.

I invest in copper, copper and corn. My portfolio is on fire.

hillbilly wrote:

I invest in copper, copper and corn. My portfolio is on fire.

Scrapyards are a little too strict in my area. If they were a hair less strict, my portfolio would be looking stellar as well.

Bob693 wrote:

I use coinbase. I don't have much in but bought Litecoin a couple months ago.

Same here, my dad does coinbase and he bought me some litecoin, watching it go up and down will make you rip your hair out LOL Sure be nice of it takes off like some people predict.

I like to gamble, but I aint fixing to take a gamble on Internet currency.

wish i had taken a gamble on it a couple of years ago, when i first heard about it, but i cant see how it can keep going up,

Someone is going to walk away with a lot of peoples money.
Whatever happened to the billions that "disappeared"

What if say, the US government bans it's use here for businesses because technically they could hide sales, and paying sales tax.. You are fooked.

Bob693 wrote:

I use coinbase. I don't have much in but bought Litecoin a couple months ago.

ocscottie wrote:

Same here, my dad does coinbase and he bought me some litecoin, watching it go up and down will make you rip your hair out LOL Sure be nice of it takes off like some people predict.

Yeah, it's nerve wracking. I can't decide if I want to sell, buy more, or hold and see what happens. I'm leaning towards holding for now.

hillbilly wrote:

I invest in copper, copper and corn. My portfolio is on fire.

Gale19XX wrote:

Scrapyards are a little too strict in my area. If they were a hair less strict, my portfolio would be looking stellar as well.

my guess is he was talking about a (copper) still

ToolMaker wrote:

my guess is he was talking about a (copper) still

Right. Over. My. Head!

Rhino wrote:

Someone is going to walk away with a lot of peoples money.
Whatever happened to the billions that "disappeared"

What if say, the US government bans it's use here for businesses because technically they could hide sales, and paying sales tax.. You are fooked.

How could they though?

That’s almost the whole point of it. It’s peer-to-peer and not backed by any entity. It’s like trading and bartering. When you cash out, you trade the BTC for USD, or whatever else you are buying. Just because it has intrinsic value, doesn’t necessarily mean it can be controlled that way. Everyone can stop using Bitcoin tomorrow, then it’s worthless and it’s hard to tax nothing, although the government might try, especially when you don’t know WHO has Bitcoin.

Litecoin caught fire last night, doubled my $$$ in two days. Will be nice if it continues to rise as predicted, daddy needs a new pair of shoes! (err I mean chair).

Bob693 wrote:

I use coinbase. I don't have much in but bought Litecoin a couple months ago.

ocscottie wrote:

Same here, my dad does coinbase and he bought me some litecoin, watching it go up and down will make you rip your hair out LOL Sure be nice of it takes off like some people predict.

Bob693 wrote:

Yeah, it's nerve wracking. I can't decide if I want to sell, buy more, or hold and see what happens. I'm leaning towards holding for now.

I told myself once my $$ doubles I'll take out my initial investment, and let the rest ride on, that way it's all gravy! It's so hard though! What if I take it out and it skyrockets? lol tough decision man.

ocscottie wrote:

Same here, my dad does coinbase and he bought me some litecoin, watching it go up and down will make you rip your hair out LOL Sure be nice of it takes off like some people predict.

Bob693 wrote:

Yeah, it's nerve wracking. I can't decide if I want to sell, buy more, or hold and see what happens. I'm leaning towards holding for now.

ocscottie wrote:

I told myself once my $$ doubles I'll take out my initial investment, and let the rest ride on, that way it's all gravy! It's so hard though! What if I take it out and it skyrockets? lol tough decision man.

Hold on to it!!! You're going to regret it bigely if you don't.

Rhino wrote:

Someone is going to walk away with a lot of peoples money.
Whatever happened to the billions that "disappeared"

What if say, the US government bans it's use here for businesses because technically they could hide sales, and paying sales tax.. You are fooked.

TrailDigger wrote:

How could they though?

That’s almost the whole point of it. It’s peer-to-peer and not backed by any entity. It’s like trading and bartering. When you cash out, you trade the BTC for USD, or whatever else you are buying. Just because it has intrinsic value, doesn’t necessarily mean it can be controlled that way. Everyone can stop using Bitcoin tomorrow, then it’s worthless and it’s hard to tax nothing, although the government might try, especially when you don’t know WHO has Bitcoin.

I don't know. It's like buying something that doesn't exist to me.

It's like a ponzi scheme for tech nerds. If someone pulls the plug, someone walks away with all the money. And who is that?

Or what if governments make using it illegal? Tax free sales, hidden sales, no sales taxes being paid.

No doubt, it's gambling, like a backroom poker room, but the tables are tilted.

ocscottie wrote:

I told myself once my $$ doubles I'll take out my initial investment, and let the rest ride on, that way it's all gravy! It's so hard though! What if I take it out and it skyrockets? lol tough decision man.

Have a plan and stay to it.

That shit is to much make believe for me, get your money back and every time it doubles pull it out again, that way when it all goes to shit and it will you won't be kicking yourself for being greedy.

ocscottie wrote:

Same here, my dad does coinbase and he bought me some litecoin, watching it go up and down will make you rip your hair out LOL Sure be nice of it takes off like some people predict.

Bob693 wrote:

Yeah, it's nerve wracking. I can't decide if I want to sell, buy more, or hold and see what happens. I'm leaning towards holding for now.

ocscottie wrote:

I told myself once my $$ doubles I'll take out my initial investment, and let the rest ride on, that way it's all gravy! It's so hard though! What if I take it out and it skyrockets? lol tough decision man.

How do you get USD out of it?? Let's say your litecoin is worth $10,000 (real dollars)...can you say "I"m out, give me $10,000 in cash"?

Bob693 wrote:

Yeah, it's nerve wracking. I can't decide if I want to sell, buy more, or hold and see what happens. I'm leaning towards holding for now.

ocscottie wrote:

I told myself once my $$ doubles I'll take out my initial investment, and let the rest ride on, that way it's all gravy! It's so hard though! What if I take it out and it skyrockets? lol tough decision man.

huck wrote:

How do you get USD out of it?? Let's say your litecoin is worth $10,000 (real dollars)...can you say "I"m out, give me $10,000 in cash"?

Pretty much... if its worth $10k that means there are currently people buying it for that much. Its like a live online auction all the time for it, just like other stocks/currencies.

I ended up buying ethereum 2 weeks ago for $459...

The biggest problem i see, is that when there is a LOT of traffic on the sites used for buying/selling, the site will crash.

not good if you want to sell when the price is shooting up.. also not good if you want to buy during a crash.

500guy wrote:

Have a plan and stay to it.

That shit is to much make believe for me, get your money back and every time it doubles pull it out again, that way when it all goes to shit and it will you won't be kicking yourself for being greedy.

Good idea Jay.

As far as getting your $$ out, we are using www.Coinbase.com

They say 90% of the cybercurrency out here is fake, thats a pretty scary rate.

I know a lot of people making a lot of money doing it. Im not in it for the long haul, dont think i can handle the swings LOL just gonna get in and out and hope to turn what i put in to make enough for a new chair, im not looking to get rich.

My older bro's best friend got in real early and cashed out for a cool 1.3mil. Thats a pretty nice chunk on change.