Who is invested in Bitcoin? It has surged from about $1000 on Jan 1st 2017 / 1 bitcoin to $17,340 today ! Looks so much like Dotcom bust of 1999-2000.
Re: The Euphoria of Bitcoin !
Who Invented Bitcoin?Satoshi Nakamoto!
No one knows. Not conclusively, at any rate. Satoshi Nakamoto is the name associated with the person or group of people who released the original Bitcoin white paper in 2008 and worked on the original Bitcoin software that was released in 2009. The Bitcoin protocol requires users to enter a birthday upon signup, and we know that an individual named Satoshi Nakamoto registered and put down April 5 as a birth date. And that’s about it.
Read more: Bitcoin What Is Bitcoin? How to Buy, Mine, and Use It
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Investing in Bitcoins
There are many Bitcoin supporters who believe that digital currency is the future. Those who endorse it are of the view that it facilitates a much faster, no-fee payment system for transactions across the globe. Although it is not itself any backed by any government or central bank, bitcoin can be exchanged for traditional currencies; in fact, its exchange rate against the dollar attracts potential investors and traders interested in currency plays. Indeed, one of the primary reasons for the growth of digital currencies like Bitcoin is that they can act as an alternative to national fiat money and traditional commodities like gold.
In March 2014, the IRS stated that all virtual currencies, including bitcoins, would be taxed as property rather than currency. Gains or losses from bitcoins held as capital will be realized as capital gains or losses, while bitcoins held as inventory will incur ordinary gains or losses.
Like any other asset, the principle of buy low and sell high applies to bitcoins.The most popular way of amassing the currency is through buying on a Bitcoin exchange, but there are many other ways to earn and own bitcoins. Here are a few options which Bitcoin enthusiasts can explore.
Read more: Bitcoin What Is Bitcoin? How to Buy, Mine, and Use It
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Re: The Euphoria of Bitcoin !
I'm very much interested in buying Litecoin which is heading its way up just like bitcoin
Re: The Euphoria of Bitcoin !
I'm very much interested in buying Litecoin which is heading its way up just like bitcoin
I already started hearing of 'crypt-crash' coming up after Xmas, lets wait and watch, this rumor already deflating crypto-mining-processor-makers like AMD and Nvidia
Re: The Euphoria of Bitcoin !
I already started hearing of 'crypt-crash' coming up after Xmas, lets wait and watch, this rumor already deflating crypto-mining-processor-makers like AMD and Nvidia
Its still a lotto win for those who bought it for peanuts. One colleague got bitcoin when it was $32. I keep telling him to quite the job already lol
Re: The Euphoria of Bitcoin !
It's a huge gamble at this point. And I see it going in one of two directions:
- It will continue its rise and become even more valuable, if Bitcoin manages to establish itself as the de facto standard for everyday payments.
- If that does not happen, it will come crashing down. And then it will be a very quick downward spiral.
Re: The Euphoria of Bitcoin !
I hate the fact that litecoin was all time low when i started thinking to buy it and now it has shoot to 400+ just when I was going through the formalities to buy some.. I may end up giving up on it as I personally believe in buying low otherwise whats the point
Re: The Euphoria of Bitcoin !
So I've actually owned bitcoin at one time but sold it off and made a quick gain, but I did buy some Etherium when it was in the 50's and LC when it was in the 25's...I've made a good chunk of money...
I agree that you should always buy low and sell high... Sid_Ny look at VTC..it might be the next potential one to break open.
Re: The Euphoria of Bitcoin !
It's a huge gamble at this point. And I see it going in one of two directions:
- It will continue its rise and become even more valuable, if Bitcoin manages to establish itself as the de facto standard for everyday payments.
- If that does not happen, it will come crashing down. And then it will be a very quick downward spiral.
I agree with 1 of your points...right now people are just buying bitcoin and holding it. Its acting like gold currently, which is bad cause you actually want people to move and do transactions with bitcoin. However the fee's currently are like 12.50 per transaction. Which is ridiculous. Just based off that I would recommend people sell bitcoin.
Re: The Euphoria of Bitcoin !
So I've actually owned bitcoin at one time but sold it off and made a quick gain, but I did buy some Etherium when it was in the 50's and LC when it was in the 25's...I've made a good chunk of money...
I agree that you should always buy low and sell high... Sid_Ny look at VTC..it might be the next potential one to break open.
Where do you buy/sell from? Coinbase? I tried making an account there and heck they wanted me to login my bank portal from their portal. I was like WTF, not gona do it. Its like practically giving them all my financial access.
I didnt see VTC there. But let me know and i'll definitely look into it
Re: The Euphoria of Bitcoin !
Where do you buy/sell from? Coinbase? I tried making an account there and heck they wanted me to login my bank portal from their portal. I was like WTF, not gona do it. Its like practically giving them all my financial access.
I didnt see VTC there. But let me know and i'll definitely look into it
So with Coinbase you're paying for convenience, they make it really easy for the avg joe to buy and sell those three coins. Thats predominately why those coins have gone up so much and have such a high volume of trading.
The Coinbase company also owns a website called Gdax..they have lower fees but also is a little harder to use. So you will have to watch some youtube tutorials or something.
But with gdax you can trade more coins and for cheaper.
so try that out. You can sync your coinbase account with gdax.
Re: The Euphoria of Bitcoin !
I hate dailymail but well hopefully its a legit interview:
‘Wolf of Wall Street’ says Bitcoin is a ‘huge scam’ | Daily Mail Online](http://www.dailymail.co.uk/news/article-5185485/Wolf-Wall-Street-says-Bitcoin-huge-scam.html)
Re: The Euphoria of Bitcoin !
Not buying it, or any other cryptocurrency. Dont have a clue on how to come up with a valuation. But blockchain is here to stay, just not sure who the winners will be when it becomes mainstream.
However if coinbase or any of the other trading platforms went public, i'd be me some of that. There's always money in selling picks and shovels to frenzied gold miners digging for real or imaginary gold.
Re: The Euphoria of Bitcoin !
**All those who in the last few weeks bought BitCoin are now Coin Bit
seems it dropped from 20000 to 12000
**
Re: The Euphoria of Bitcoin !
And today it came down and bit 10,000!
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Bitcoin will ruin a lot of lives. I invested kind of early but it's just a headache at this point
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People who invested early 2017... are raw...
Now Ripple is new game changer.... Lite coin is expensive.... If chamar investor like me pick a crypto currency... it would be ripple...
Re: The Euphoria of Bitcoin !
So where do we currently stand on cryptocurrency?
@Captain1 @Obama @NaanGuard @Southie @queer @Ethan_Hunt
@mahool It looks like ripple is done.
Re: The Euphoria of Bitcoin !
I don’t understand bitcoin block chains crypto currency etc. Debbie may do Dallas, but I don’t do bitcoins.
NaanSouthie
Re: The Euphoria of Bitcoin !
First and foremost the Maha Guru Mr Warren Buffet has said we should stay away from it!
personally all these Fake (imitation of a Solid Gold Coin like) pictures depicting this totally digital entity is misleading the General Public by its False Gold Like appearance in the Media, I think there should be a Class Action Law Suite for False Advertising!