Nothing new...

https://en.wikipedia.org/wiki/Tulip_mania

 

Well, when all that Bitcoin trading is over and done, don't forget the IRS!

2 hours ago, 45Doll said:

Well, when all that Bitcoin trading is over and done, don't forget the IRS!

Yes, you can use those losses to offset gains elsewhere in your portfolio.   :-)

$1k increase over last few days.  Could it have bottomed out? Will be interesting to see if run continues.  

@Barmsjust wanted to remind you that you were wrong about the future of Bitcoin.  

Bitcoin in a nutshell:

Imagine if keeping your car idling 24/7 produced solved Sudokus you could trade for heroin.

That "run" didn't last long.  Floor feel out and it nose dived.  Feel bad for anyone who purchased near the highs.  Hopefully they sold before losing too much.

9 hours ago, gleninjersey said:

That "run" didn't last long.  Floor feel out and it nose dived.  Feel bad for anyone who purchased near the highs.  Hopefully they sold before losing too much.

It didn't last long because it was artificially inflated. Price manipulation fooled a lot of people unfortunately.

It's an interesting idea, but the non-regulation of it definitely bit a lot of people in the ass.

28 minutes ago, Greenday said:

It's an interesting idea, but the non-regulation of it definitely bit a lot of people in the ass.

Yes, we need government regulation and control on everything, right? Isn't that what your buddy, Bernie preaches, as government knows best?

 

On 12/23/2018 at 4:35 AM, capt14k said:

@Barmsjust wanted to remind you that you were wrong about the future of Bitcoin.  

I’ll save this.  

So some manias are bad and some are good.   Sometimes a mania brings notice to something that otherwise wouldn’t have been noticed.   So for all the people who bought a “little” at the top and then spent the rest of the year diving down the rabbit hole and got enlightened about what a farce the fiat system is and how much a savior that non censored money is to the 4 billion people on the planet who use bitcoin as freedom (Time Magazine, not me).   Well then for those who spent a little at the top and a LOT at the bottom then I say 3 cheers for the mania. 

 

Edit not 4 billion users, 4 billion population who live in countries with like. 10 thousand percent inflation

On 12/1/2017 at 8:26 AM, Barms said:

How about I say 100% chance it goes to zero some day.   But for now the hype is on.   The table is hot,  do you increase the stack or go take a piss?

I’m okay with taking a shot at up 5x or zero.   I think that’s better odds than Atlantic City

How good are your odds now? Take a look at this chart, it was at $10,900 when you started this thread.

Are you still feeling lucky?

 

Just my humble 2 cent non financial advice opinion,  What Im going to do for myself. There maybe and likely be some more pain and downside in Bitcoin and everything else, but at some point  when its so far off its high percentage wise, it may be worth taking a chance and throwing a couple hundred bucks into BTC, dollar cost average in a couple of buys,  I can definitely waste more drinking with a couple guys on a night out, so no gain wo some risk, of course metals would be in my mix also. Any real downturn in the equities market will initially drag down the metals and any other speculative market or investment. Also some folks would need to sell to make ends meet but I then think there would be an upside shortly after as money would chase yield . If poop on a stick was a tradable commodity and the possibility of turning a profit can be realized , shoot why not , just dont marry it , there is a time to take profit on everything .

Also Regardless of what you think of our president, Obviously I support his policies, I really think they are trying to f^&* with him so bad they would gladly sacrifice the equities and every other market to make him look bad, not caring they are hurting the little guy like you and I. Timing also sucks too as markets generally run in 8 to 10 year cycles anyways, and we are 10 years deep in the stock bull run, doesn't mean they cant float it some more but to be honest these are definitely some uncertain times here. I personally dont own any BTC but do have some lower buy orders in case it goes down, im willing to give it a go, Is the bitcoin bottom in ? I dont now, the wildcard is the stockmarket, and what it does, when people feel rich they take a chance. One day there maybe a fedcoin or whatever thay want to call it, the tech is here to stay, what they do with it is just a guess.

For what its worth many large institutions are building and spending ALOT of money for the infrastructure and patents for a digital future for money. whats the old saying when you and i miss the train, well we missed the train, when wall street misses the train , they bring the train back to the station,  Education is key here. 99% of the thousands of crypto currencies out there are scams and BS but like it or not BTC is the don corleone , the first mover advantage in this space that is now 10 years old.  yup 10 years ago I think it was like  12 cents a coin. Learn listen to vids read, make up your own mind. Look for and against an argument over something or you will always find what your looking for to reinforce your bias. 

Anyone else still hold their BTC?

 

You gotta have an eye on the Canadian Pot company stocks... Some of these will go off in the next 10 years. Get in while you can and do your research.

 

59 minutes ago, carl_g said:

You gotta have an eye on the Canadian Pot company stocks... Some of these will go off in the next 10 years. Get in while you can and do your research.

 

yes, I would love to have a grow facility or retail etc the possibilities are endless, before you go there, no I dont do that, Im already a chill guy, when I tried when i was younger it just makes me want to sleep.  I remember in this state when they pretended , I mean put applications out for dispensaries years ago,  for a small application fee of 20k.  I would be a strong guess they were already picked ahead of time. No I dont advocate illegal drug use but lets face it it does have medicinal qualities that wont kill you like the pharmaceuticals will.  but getting back to the stocks, yes they are a good buy on the dip. 

1 hour ago, carl_g said:

You gotta have an eye on the Canadian Pot company stocks... Some of these will go off in the next 10 years. Get in while you can and do your research.

 

That ship has sailed too. The time to get in was last Spring. Most of those companies are down since it was made legal in October.

19 minutes ago, Sniper said:

That ship has sailed too. The time to get in was last Spring. Most of those companies are down since it was made legal in October.

Give it time. It's not a get rich quick scheme. And now that Trump signed the Farm bill taking hemp off of the controlled substance list it's all coming together. Next step to get cannabis declassified as a schedule 1 drug which I think will happen during Trump's last 2 years. 

1 minute ago, carl_g said:

Give it time. It's not a get rich quick scheme. And now that Trump signed the Farm bill taking hemp off of the controlled substance list it's all coming together. Next step to get cannabis declassified as a schedule 1 drug which I think will happen during Trump's last 2 years. 

Wow....so growing cash crop is going legit?

 

4 minutes ago, W2MC said:

Wow....so growing cash crop is going legit?

 

yep. https://www.businessinsider.com/farm-bill-legalizes-hemp-boom-marijuana-cbd-industry-2018-12

Great timing to revive this thread actually.   Yesterday was the exact ten year anniversary of the first bitcoin block.  

So it’s a ten year scam, a ten year bubble, a ten year manipulation, what have you.   Every day it doesn’t go to zero just means it will live longer.

i don’t think Tulips lasted ten years. 

And if you held bitcoin for the past ten years even with an 80% drawdown from the peak you “earned” like 100 times more money than if you held that long in a bank account. 

14 hours ago, Sniper said:

How good are your odds now? Take a look at this chart, it was at $10,900 when you started this thread.

Are you still feeling lucky?

 

More bullish now than ever before.  

6 minutes ago, Barms said:

And if you held bitcoin for the past ten years even with an 80% drawdown from the peak you “earned” like 100 times more money than if you held that long in a bank account. 

What about the people that jumped into the mania a year ago November? What are they saying, since they financed their BTC purchase with Home equity money or put it on credit cards?

 

4 hours ago, Sniper said:

Anyone else still hold their BTC?

 

For those who did buy at $10k or higher, why would they ever sell?   BTC is an option that never expires.  You never sell an option that never expires.   If you bought it because you think you’d earn 10% or 20% then just own stocks.  But if you are in it for 5x or 10x then you’d never sell.   There is no time decay against you 

7 minutes ago, Sniper said:

What about the people that jumped into the mania a year ago November? What are they saying, since they financed their BTC purchase with Home equity money or put it on credit cards?

 

lol.   What about the people who bought Snapchat or Blue Apron IPO with home equity or a cash advance on their credit card?    Cmon.  Don’t conflate risk management with a good debate about this topic.  

SNAP is down 75% in 10 months.  

Blue Apron is down 84%

32 minutes ago, Sniper said:

What about the people that jumped into the mania a year ago November? What are they saying, since they financed their BTC purchase with Home equity money or put it on credit cards?

 

That is just a stupid thing to do.

26 minutes ago, Barms said:

lol.   What about the people who bought Snapchat or Blue Apron IPO with home equity or a cash advance on their credit card?    Cmon.  Don’t conflate risk management with a good debate about this topic.  

SNAP is down 75% in 10 months.  

Blue Apron is down 84%

It's real simple, it's called "A fool and his money, are soon parted".

Keep waving that Bitcoin flag.... all the way down to zero..

BTW, BTC is down another 2.35% today... Are you winning?

 

4 minutes ago, carl_g said:

That is just a stupid thing to do.

Nearly 20 percent of people who own cryptocurrencies such as Bitcoin went into debt to buy it, or bought it on margin.

That’s the finding of a survey of more than 3,000 people conducted in mid-January by CoinDesk, a New York-based provider of price data, information and news about digital tokens.

The rising use of debt is one of the reasons banks including Citigroup Inc. are halting purchases of Bitcoin and other cryptocurrencies on their credit cards.

http://fortune.com/2018/02/07/buy-bitcoin-credit-card/

 

3 hours ago, Sniper said:

Nearly 20 percent of people who own cryptocurrencies such as Bitcoin went into debt to buy it, or bought it on margin.

That’s the finding of a survey of more than 3,000 people conducted in mid-January by CoinDesk, a New York-based provider of price data, information and news about digital tokens.

The rising use of debt is one of the reasons banks including Citigroup Inc. are halting purchases of Bitcoin and other cryptocurrencies on their credit cards.

http://fortune.com/2018/02/07/buy-bitcoin-credit-card/

 

Those people are losing right now and I stand by my original statement that it was a stupid thing to do, no matter what they invested in.

For those of you who follow Bitcoin, at the moment the market value appears to be below the average mining cost .

And excuse me for quoting Bloomberg. Leaves a bad taste in my mouth.