Bitcoin

28 comments

• Evasparkling

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  4 years ago

  Bought about $2,200 worth of bitcoins around August,
  
  Last time I checked it’s now worth about $2,700.
  
  I’m not brave enough to invest huge sums yet due to it’s wide swings.
• Uprightcitizen

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  4 years ago

  No FTS just holding on to my original position. Honestly I am looking for more income investments now and have enough BTC as a % of my portfolio (1-2%) as a speculation and hedge. But I do agree that with firehose monetary policy in place BTC theoretically should pop at some point (just when...).
  
  Eva owning BTC is like riding a roller coaster. Enjoy the scary and thrilling ride.
• BitCoinHodler

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  4 years ago

  Bitcoins a scam so no i haven't
• Papi_Chulo

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  4 years ago

  In these stressful times we're living in I can see stock for Tegridy Farms really taking off
• twentyfive

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  4 years ago

  Bitcoin is due for another fork
• shailynn

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  4 years ago

  I’ve bought Bitcoin in the past so I can play online poker. Years ago buying Bitcoin was not an easy task without exposing your identity.
  
  Fast forward to 2019-20 and now you can buy it anywhere, the biggest shock to me was now Paypal will sell you Bitcoin - which I always viewed as a competing digital currency. In the past if you bought Bitcoin and paid someone with paypal and wrote “Bitcoin” in the notes section of the paypal transaction you were probably going to get your account suspended - guess that’s a thing of the past now too.
• ime

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  4 years ago

  I have a buddy who bought it years ago so he could by drugs on silk road. Instead of being a bitcoin millionaire worth around $50 million we estimate of the number of bitcoins he spent when it was cheap, he instead went bankrupt, from his habit.
• Icey

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  4 years ago

  Can you convert it all to dollars at a bank?
• Subraman

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  4 years ago

  I just learned how to buy it, basically probably buying it the stupidest most expensive way just so I can learn more. But I am going to put a little money in it... very little, really.
  
• Subraman

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  4 years ago

  How are the rest of you guys buying your cyber currency? And everyone doing just bitcoin?
  
• FTS

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  4 years ago

  The common belief is that buying bitcoin is super risky, but in the long term it actually isn’t really that risky at all. I’ve been studying this stuff obsessively for over a year now, and a lot of journal articles are full of misinformation. For example, people like to say that a quantum computer could take down bitcoin, but I did a deep dive recently and looked at academic journal articles on that topic, written by PhD quantum physicists and computer scientists, and the reality is that the EARLIEST that that is even possible, by the most optimistic estimates of the advancement of quantum computer technology, is 2027. More realistic estimation is 2040. And, there are quantum-safe digital signature algorithms that could be implemented into Bitcoin in the mean time. So, the idea that your bitcoins could be hacked any minute by a quantum computer is total bullshit.
  
  The price is, of course, very volatile, but in the long term it’s very likely that it will increase significantly, based on supply and demand. The rate of production of new Bitcoins gets cut in half every four years, meanwhile the number of people using it, and the demand for it, and the general interest in it, is increasing exponentially. Demand up, supply down, price can only go up in the long run based on that dynamic.
  
  If China bans it, it’s still used in 150 other countries. If the US bans it, it’s still used in 150 other countries. If ALL countries ban it then you have to wonder if your governments are really protecting your freedoms.
• FTS

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  4 years ago

  For the record, the best way to buy Bitcoin is dollar-cost-average buys, I.e. buy a little bit at regular intervals, like $10 per week. I actually did the math: if you had started buying a little bit, every week, since the bubble in 2017 three years ago, the value of your bitcoins now would be double the value of just saving the same amount in US dollars.
  
  Compare that to an investment in the stock market.
  
  Www.Swanbitcoin.com
  Www.coinbase.com
  Www.kraken.com (which is now, officially, a chartered bank)
  The CashApp
  PayPal
• Subraman

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  4 years ago

  Just regular little debit card purchases off coinbase, say, is what you're suggesting?
• FTS

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  4 years ago

  Any platform that is reputable and isn’t going to run away with your bitcoins is an okay way to buy bitcoins. From there the only improvements are in the fees that you pay, and in the principles of the business. In those areas, www.swanbitcoin.com is actually a great platform. Their fees are lower than Coinbase (although, not lower than Coinbase Pro), they set automatic recurring buys, and they also encourage users to set up automatic withdrawals to the user’s personal bitcoin storage (like a cold storage hardware wallet). I’ve been a customer since April; you just set it up and forget about it. No trading, just an automatic way to save money in Bitcoin.
• Subraman

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  4 years ago

  Interesting, thanks! I'm using a hardware wallet also, though transferring by hand each time from coinbase
• FTS

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  4 years ago

  FYI, a comparison of Bitcoin chart before 2017 vs now:
  https://i.imgur.com/VKq0NG9.jpg
• BitCoinHodler

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  4 years ago

  I get a warm and fuzzy feeling watching suckers be indoctrinated into the cult.
• FTS

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  4 years ago

  ^^^ Watch out, we got a genius up in here!
  
  Lmao.
• BitCoinHodler

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  4 years ago

  Everything Desert said is an objective fact.
• FTS

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  4 years ago

  Technically, the second to last sentence was not an objective statement, it was a subjective opinion. Not that it matters, my comment wasn’t meant to dispute any facts, nor do I dispute any of the facts now.
• datinman

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  4 years ago

  Scrub just opened my eyes. Bitcoin allows criminals to avoid cash. Prior to Bitcoin, black markets were cash businesses. Cash needs to be laundered. Strip clubs are great for laundering cash. Damn, Bitcoin is killing the strip club industry. Boo Bitcoin! (sarcasm font)
• FTS

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  4 years ago

  “Beneath this mask there is more than flesh, Beneath this mask there is an idea, Mr. Creedy, and ideas are bulletproof.” - V
  
  Everyone will eventually understand the idea of Bitcoin, it’s just a matter of time. Some will just understand it later than they ought to.
  
  Naysayers have nothing to fear; Bitcoin is clearly not catching on. Nothing to see here:
  https://twitter.com/jamesviggy/status/13…
• skibum609

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  4 years ago

  What is another name for Bitcoin? Ponzi scheme.
• FTS

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  4 years ago

  Short it
• Subraman

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  4 years ago

  A carriage without horses? Dang fools!
• FTS

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  4 years ago

  *cough* $16300, +120% YTD, *cough*
  
  Sorry, I've had a cough lately.
• Subraman

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  4 years ago

  Honestly, I think the skepticism is understandable and I'm still a bit skeptical myself. But I put a little money it at 1300, which was just like 2 weeks ago, and now it's 1600. Not a terrible 2 week return, although my investment was very small
• Subraman

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  4 years ago

  and I"m not counting it as a gain yet since I'm not selling