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Anybody own bitcoin?

Any of you guys seeing dollar signs? Bitcoin is over 29,500 from 4000 in early march.
 
rofl

about a decade of running WCG and F@H on cpu and a decent for the time GPU,
back when they weren't worth shit so you could mine quite a few with ease
figured it'd never pay off, so went with the charity option
regrets
 
When a :mr-t: lists his 04 impala with 22s and a trash bag rear window for sale, and says he'll take bitcoin or other "cryptoZ" you're late to the party, it's late in the cycle, the mania has already arrived and you need to find something to invest in that nobody has heard of.

I'm not putting up 3.50 bitcoins for that!
 
I was just talking to a younger coworker who seemed to know a lot about it. That shit made my head spin. Very complex. It's a whole new way of thinking. I couldn't figure out the dollar (other than earning it :homer:) let alone start that shit.

One thing to remember when going into something like this. It's like going to a casino. They need suckers and losers to make it prosperous for the winners and scammers. You better be on your game and know your shit to make it a success. If you think you're going to toss dollars in there and watch them multiply you're wrong, you're just making someone else richer. Know everything about it first.
 
I used to mine Eth for a long time ..... had a big setup. I was up to about .6 BTC along with having a ton of other coins .... lost most all of it trying to play penny coins and start ups hoping my investment would blow up. Most of my portfolio is in the red ... still got some Eth and about .017 BTC .... wish I would have been paying more attention to when BTC started moving again I would have moved it all there.

at this point, I feel like moving it back out before it crashes again
 
One thing to remember when going into something like this. It's like going to a casino. They need suckers and losers to make it prosperous for the winners and scammers. You better be on your game and know your shit to make it a success. If you think you're going to toss dollars in there and watch them multiply you're wrong, you're just making someone else richer. Know everything about it first.

Yes, it's good to be educated in anything you're investing in. No, you don't have to know every in and out of it.
We looked at it as more of a rainy day fund than an investment. And we only put in an amount that we were ok with losing if it crashed.
So far we've more than doubled our investment. The wife is very into the financial market and watches it religiously.
 
Own 0.014 BTC, currently. Got curious about it five years ago or so and could seem to get myself to understand it all. Finally started buying little bits of it at the start of 2020. Bought something like $90 total. Roughly quadrupled as of the $29k. Really doesn't amount to anything anymore unless it tanks again and I can catch the wave, but I figure it's worth having a stake in.

I have a terrible time learning anything without performing the actual task myself and getting my hands on it. Getting into stocks and crypto is a miserably slow process for me.
 
I have no bit coin because I found the access too cumbersome. (I really wanted to buy when it was at $3500) My opinion on it as an investment goes like this. The dollar is going to crash. It will be either a slow controlled crash or a massive spiral. Either way, if bit coin remains safe and legal, it will skyrocket. The price now is nothing. (I'm talking millions)

The problem is not bit coin crashing because of market forces. There are two issues as I see it. 1. Somebody hacks it. If this happens, all investment goes to zero. 2. The government (s) realize what they are losing and take over bit coin. (Or create their own and make all competition illegal)

Probably gold is still the best bet. The only issue with gold is alchemy. If they ever find a way to turn lead into gold, it will crash over night.
 
I have no bit coin because I found the access too cumbersome. (I really wanted to buy when it was at $3500) My opinion on it as an investment goes like this. The dollar is going to crash. It will be either a slow controlled crash or a massive spiral. Either way, if bit coin remains safe and legal, it will skyrocket. The price now is nothing. (I'm talking millions)

The problem is not bit coin crashing because of market forces. There are two issues as I see it. 1. Somebody hacks it. If this happens, all investment goes to zero. 2. The government (s) realize what they are losing and take over bit coin. (Or create their own and make all competition illegal)

Probably gold is still the best bet. The only issue with gold is alchemy. If they ever find a way to turn lead into gold, it will crash over night.

Your points are precisely what I've questioned since learning about cryptocurrency. Still, I don't mind putting a small amount into it that I won't see as any significant loss if it gets taken over by one entity or another. Given the idea that its value will increase dramatically if/when all volume is owned, buying in earlier this year didn't feel worthless, though the feeling of regret still set in as I missed it when it was merely three digits. Perhaps I'll finally find some interest in metals.
 
My problems with crypto is it can be controlled by .gov, it can be stolen, at some point someone is going to figure out how to make it faster and cheaper. Gold has stood the test of time for 1000's of years and it has uses beyond just money holder.
 
I own some Grayscale Bitcoin Trust GBTC. Saves me from trying to understand where my money is.
 
I own some Grayscale Bitcoin Trust GBTC. Saves me from trying to understand where my money is.

Is that some kind of stock indexed to BC? I don't like that for the same reason I don't like gold or silver stock. It's fine if your trading for profit, but if you just hold it till the dollar crashes, that company will probably go under because they aren't holding enough.
 
Can't argue with that.
Bit bitter for me, he's prolly the sort that likes the taste of IPAs
 
My problems with crypto is it can be controlled by .gov, it can be stolen, at some point someone is going to figure out how to make it faster and cheaper. Gold has stood the test of time for 1000's of years and it has uses beyond just money holder.

None of this is true. Except somewhat that gold has uses. It’s value is only due to scarcity.
 
Any of you guys seeing dollar signs? Bitcoin is over 29,500 from 4000 in early march.

I have 1 Bitcoin and a lot of Ethereum. I sold the rest of the BC at 19k 3 years ago to put a big down payment on my new shop. If this run continues for a few more months I will sell it all and pay off my house. Then wait for the next drop and buy in again.


Or it will tank this month. Depends on what .govs and institutional investors do, among other things.
 
I took some Bitcoin for a walk down the Silkroad many moons ago. Had a half ounce of coke and a chunk of hash delivered to my mailbox.
 
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So what backs all this digital currency, what gives it value? If the dollar goes to zero, is it worth something in rubles?
 
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