Bitcoin Forum

Reading over threads on this forum I've learned quite a bit about mining and the community in general.
But the reason I bought bitcoin has nothing to do with the former or the latter.

You see I'm one of a small percentage in the USA who reads/listens to news outside the USA. Most people I speak to have no clue what is happening in Europe, how the death of Petro-dollar is meaningful, ZIRP influenced stock market Bulls, overinflated housing valuations, trillions in student loan debt, Vehicle lending bubble, crashed Baltic dry index, emerging economy bond debts, low income per household,  oil hedge covering by the Fed and Treasury, COMEX price rigging, overvalued dollar, FATCA, TPP, on and on.

Pretty much I've sounded like a crazy person to most but that's OK.

Why am I writing this?
Well its because people seem to have a brain around here so if anyone wants to hear some very interesting info Jim Willie (goldenjackass.com) gives some animated, resourceful and so far accurate underground info regarding government level corruption and how it will crash the dollar which chases wealth into other Venue's like gold, silver, BTC.

You see BTC isn't going up just because its the nextgen of wealth.
It isn't just going up just because working BTC commerce and investment platforms have surfaced (yet to fully mature).
BTC is also going up because people like myself don't want to play Yosemite Sam guarding home based Bullion, nor do we wish to gamble with TSA screening for metals. Bitcoin is perfect for its time and the incoming wealth is just beginning.

Well done and enjoy the ride (don't sell).

Btw BTC market cap of 7billion is nothing in grand scheme.
With Commerce support maturing I'm seeing 3-5k per coin (or per 100,000,000 Satoshi).

If retirement wealth comes around we are talking above a market cap of 1trillion.
This is a worldwide platform, very private, and very secure.

Nice one. Doubt you'll ever regret it. Crypto is not going to go away now, genie is out the bottle.

I'm a big fan of the jackass, dont remember if he ever talked about bitcoin though.

In short, OP bought 0.1 btc because he thought one day he'd be a millionaire.

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Nice one. Doubt you'll ever regret it. Crypto is not going to go away now, genie is out the bottle.

I'm a big fan of the jackass, dont remember if he ever talked about bitcoin though.
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Thanks for the kudos. Its funny a close friend was getting very annoyed with me earlier over these talking points. People just love the matrix, period.

Honestly I do wonder if Willie is being totally honest about not knowing bitcoin.
The man has depth of knowledge unknown to most. So to not know much about crypto just seems imbalanced to me.
My own personal prediction today is Ethereum could be the backbone for his new Sh!t Dollar (crypto USD) prediction.
Fully controllable and being touted as a bitcoin improvement platform. Little do commoners understand its frankly a Microsoft, big bank, us government wet dream waiting to happen.

Congrats, sounding crazy means your an early adopter

There is a chance that we are mostly wrong re the long term value.
The future is not set.
Don't go all-in yet.

So true, we just don't know what hammers can get dropped by today's governments.
If you asked people 20yrs ago if they could imagine a reality where DC steals our civil liberties overnight and most don't know or care, they would be impeaching leaders.

If you ask anyone today can they imagine bitcoin made illegal overnight they just might think your nuts.

I hope not.
Its simply a kick ass product.
But its also a threat to the elite of elite.
Personally I expect new lows to go with new highs.

The powers that be know well how to shake the tree.

3k-5k per coin is a huge amount to think for now but it's now unreachable, we hope more (e)commerece will use bitcoin in the near future.

right now this price is far from realistic. but after 4 or 5 years things can look completely different. then we might even see the price go much higher than that. all this is just speculating right now, but the possibility for this to happen is really here.

Only a lunatic would think $1200 a coin is possible anymore. 500-600 maximum is the best case scenario going forward. Halving is priced in already, there's no more massive China buy-in, bitcoin is an old tech, old news, no new excitement anywhere. We've hit a dead-end.

Why 4 or 5 years. We are going to see 3k levels within this year. The melting stocks in many countries may take bitcoin to any height. Already China is started investing into crypto-currencies, usually other countries will follow trend of first goer.

OP is talking about 3K-5K per coin.
How does buying 0.1 BTC make him a millionaire?

China has been in crypto for a few years now, it's not that they just found out about it. At this point Chinese investors are being held back by useless policies towards Bitcoin and crypto in general. Currently the majority of the so called Chinese "investors" are small fishes that are looking for a quick buck. We need market movers and not 2-5BTC "investors". Beside that, it's better to wait for the $1000 to be reached again before dreaming about $3K and above.

Guess there will be a lot of rich lunatics around in the future then.. 7 billion market cap is nothing, nothing at all for something like this.

A small tech company can be valued at that without their first product released. Just watch your 500-600 maximum eveporate in the coming year.

Well this price can be reached after the next halving period (maybe after 2020) if bitcoin success will continue.

We shall see $1200 later this year. One reason is the halving, the other is the wide usage of bitcoin.

Right, the halving is just one reason.We will see several new implementations and improvements of the protocol and infrastructure that will have huge impacts how and in which directions will Bitcoin evolve in the future.
Therefore I recommend to listen to the newest Letstalkbitcoin Episode (277) with Andreas Antonopoulos where he and his to other hosts talk about the coming implementation of SegWit.
https://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-277-separating-signatures-with-segregated-witness (https://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-277-separating-signatures-with-segregated-witness)

I fully respect opposing opinion. Its actually good all around.

All I would ask is to consider BTC as a small body sharing the solar system with ginormous Bodies.

There is movement outside our ecosystem worth noting.
Things will affect BTC price upward and that's not considering maturing commerce or retirement level funds.

I did not stat 3-5k in any time period. 3-5k is a simple range for a more realistic Market cap.
And a more realistic market cap with commerce and retirement fund interest is frankly scary.

No predictions time wise but things going on with death petrol dollar, emerging market bond debt dominos, ridiculous overvalued USD, etc etc are peaking. Whenever things get ugly I feel bad for anyone not holding bullion and crypto.

I disagree that halving will lower the valuation.
Simply put less is more when valuing things,  but I see more than just that.

Miners are no longer the only part of this equation. With intercommunication or exchange between distribution platforms and commerce portals opening left and right the world around, BTC can do nothing but continue to gain valuation as long as big government and Central banks remain away.

There's a big difference between currency wars and currency bans.

Exciting times indeed but not enough reason to stop accumulating IMHO.

Buying a bitcoin is always a good action. You have invested into a highly returning vehicle. Your money will keep on growing at least for next 100 years.

We don't know if bitcoins will even exist in the next 100 years. I think a new better system might take over bitcoin in the next 50 years.

That would be my guess as well - technological advancements, changes in economy/politics and consumer needs will probably result in a new type of crypto.  But what does it mean for bitcoin, and its price?  Would bitcoin cease to exist, becoming worthless - or turn into a prized collector's item worth thousands?

As a from of money base, bitcoin could still live them. But many systems and applications will be built up it.

I bought as a long term investment, local interest on bank accounts are so low these days. I only invested
what I could afford to lose into Bitcoins, till now it paid out OK  ;)

I bought it three months ago and have not looked back.
I think the later will be worth a lot and that I can take out a lot of profit.

Yes, buy and hold is a standard nowadays but the question is who's going to buy then if most people are already selling once the price doubles as predicted.

smart traders will wait for the dumping to be over and buy back at the lower price levels. if the demand keeps increasing then the price might eventually go x4 from current price. which means that you'll still make a profit when you buy at the doubled price as you say.

Well many people are asking for bitcoins, I think that's not the problem.
The problem is that many people are gonna hold the bitcoin for too long and will get in trouble.

If the price of bitcoin keep on rising in long term, I think it is not problem for them to hold it for long time.

Thanks for that, I figured thats what his story was about but didn't feel like reading...

So he's basically every other person who bought bitcoin

Good deal, OP.  I bought in for many of the same reasons, plus I enjoy the roller coaster ride that is bitcoin.  I don't think we'll see economic disaster like that which has been predicted by the silver/gold hypers within our lifetimes but who knows. 

Yeah it's absolutely not a problem to hold on to Bitcoin for longtime but there are some really sensitive and vulnerable people who end up selling all their Bitcoin once the price dip a little bit.

I think bitcoin is not for trading. If you are sensitive or vulnerable it is better not to invest in bitcoin.

buying bitcoins, always awesome idea, you just can't go wrong with them, and their price will rise more and more

I keep on buying small amount of bitcoin every now and then. It will rise in the long term. So I do not worry about price.

I am accumulating a small amount of bitcoin every months, that is mainly by mining. I do not sell the coins.

I think that is not a reason to not invest in the bitcoin, the bitcoin has a really good future since the beginning of this year, due to the point the bitcoin is getting more popular everyday, also the halving is coming so that is another point why you should invest.
I invested for the fact the price is gonna go to a high amount soon or later.

oh, i won't sell now atleast, and you did a good thing by buying bitcoins, price for bitcoins will keep growing, so longer you will keep them, more you will get later

the present price of bitcoin at $435 is too cheap. I will not sell at this price. In fact, I will buy more when I can.

Yeah I would engage myself in buying at a moment, as I feel that the price is pretty good to invest some money into it, as the price will rise in future so can sell it with some profits.

It good now that you have bought, because you can see now that the value is rising and that is pretty good.
We all hope that we can make some profit later, so that will be so good. But it is hard to predict for what is going to happen.

I bought bitcoin because it is the coin to own. It is not inflationary, so the value will not be eroded like the fiat.

Buying bitcoin at this price is really good. The price is increasing slowly. According to most spectaculars it describes that the increase will continue, so buying is profitable.

according to most speculators? i guess these people are just the ones who wildly speculate about all the prices

in my opinion there is a chance thatt he price will go up, but people might just start dumping coins at any time and go to other crypto such as ethereum

no matter how much ETH lovers and bag-holders insist this is never going to happen. all the price reductions that we saw lately was just a simple movement in the market to pump ETH and earn more bitcoin.

Its good that you have bought it. So you can make some later more money and that is very good.
We all hope that the price will rise for a long time and that we can have some profit later in the future.

this is true only if some whales don't manipulate the market. After being indexed as stock bitcoin is continuosly being manipulated.

The whales are manipulating the market all the time. But the value of the bitcoin rises in the last 7 years as we can see.

yes crypto will never die now, it's way too popular now and best thing is that others like all crypto monies and more users buys them each day

and buying bitcoin is always a good thing, your money will grow in future for sure so you will be even happier later

I am glad to see someone that has bought in for the sake of utility over speculation

The whales might always continue to try to manipulate the bitcoin market but they cannot do it all the time.

yeah, their effect is going to fade away as times goes by because there will be more investors and the spread of wealth makes them weaker but they still will be powerful enough to move price just smaller then.

it is the best method to save purchasing power, that is why I buy bitcoin

every market in the world is being manipulated by wealthy/whale traders. it will never change, and i am happy with that. we can make profit because of them. they are in the position to move markets. we as normal traders can't even make a dent in any kind of market.

Well thats really the reality in markets, but in case there is a down fall in prices whales are hurt the most from this scenario.

0,1 bitcoins not a lot and it won't make him millionaire one day, he needs more bitcoins

and yes buying bitcoins is always a good thing because their price rises everyday so you can get lots of extra money if you buy them and sell them later for larger price than you bought

Buying and selling right away will give you a small profit but if you wait then you will get a lot of profit as bitcoin is getting well known day by day that means the price may rise up.

It is your opinion. Not for dependency.

Buying to be it is likely a smart move. One option can be to justo hold 75% of the coins and "play" in market (selling, buying a little lower, then selling again on rises) with the rest.

Exactly buying now is a smart decision. Buying this time will give guaranteed return just because of the price stabilizing around a fixed value without much deviation or decrease.

Indeed, its a good investment to buy them now because the price is pretty low and the future of the bitcoin is also good.
In fact the bitcoin is so good the chance that it will rise is very big and the halving will also help you.

well the main thing why i bought my bitcoins i have right now is because i wanted to make an investment that will probably make me some good money in the future, i hope this will happen

to be honest im willing to wait for a really long time in order to make as much money as possible from those bitcoins

People are buying because they want to earn money and that is logic and also very good. But they dont know that it will take a long time.
It is good to buy it because we want to make some profit and that can be very good for later.

Most people in trading just buy and sell it right away,well if they have the time to wait for a nice price to sell the bitcoin lets say 20-30$ profit that is a good sell.

I dont buy much as i only use bitcoin for watching porn,if i can incorporate bitcoin in my daily life i would by constantly.

It is of course very good that you bought some Bitcoins. Because you want to make profit and that is very good.
I hope later that there will be more people that have some profit because of Bitcoin and that it will be also more used.

I hope we do not have to buy bitcoin one day. We will be paid with bitcoin and we can buy anything with bitcoin.

If you some bitcoins and spend some and keep some, you will be very rich in a few decades as the price will rise a lot.

That has happened now in some companies. I heard the overstock.com staff can opt to be paid with bitcoin.

I bought because I am believing that I can make some money with it. Investing is a sort of gamble because you do not know what will happen to the prices.

Quite true. Think of cryptocurrencies the same way you look at stocks. Yes, they seem to be a bit random but there are actually stocks called blue chips that have very low tendency to shrink its value, basically that's what i think of Bitcoin here, the bluechip of cryptocurrencies.

I also bought the bitcoins because it has a good future and its growing very fast, you can make profit with it easily these days.
I also trade with it so that is why I bought them, I really have faith in the bitcoin itself.

I bought bitcoin as a investment for the future as well for future usage, because without doubt bitcoin will evolve as a digital currency when years pass.

That was my inclination when I bought my first bitcoin too. Wishing for it to pay off. But as we all know a good payout takes along time in the long run. So patience is the key to this to happen.

Bitcoin is a good investment now. In a few decades, it will be the most used currency in the whole world.

yes your reasons why you bought is correct, but i have to also say that buying bitcoins is always a good idea, usually because price of bitcoin will rise in future

and lots of people buys bitcoins for same reason, to sell them for more later or wait long enough till bitcoin will be currency and then they would be rich

That depends on if there is continuous development of the currency and if the community is unified or not.

The main reason that people are buying some Bitcoins is that they want to earn some good profit with it and that is logic because money is important for everyone.
It is only not that easy to earn some good money with Bitcoin because it takes a long time and hard work.

Its right now very good to invest you money in the bitcoin because the bitcoin is gonna rise without any doubts, I really have no doubts about that honestly.
I think the halving will let us all make profit at the end of this year, investing now is because of that the right thing to do.

I also bought because the fact that the halving is coming, I really have the trust that the bitcoin will rise to a high amount this year.
its just a matter of time before this is gonna happen.

I think if you have money than you should buy Bitcoins because it is just like your investment, if you save it than bitcoins will also give you good profit because passing the time bitcoin's price will increased and also halving is profitable thing, you should use it and get good profit.

well i think all of us had bought bitcoin for the same couple of reasons more or less.
one of the biggest reasons is the price and the profit the future of bitcoin has to offer to us.

but also another big reason is the benefits of using bitcoin, which a lot of us became interested in bitcoin because of them, like the decentralization and the security.

people of course like the fact that they can use bitcoin as currency, but 95% of the people simply buy bitcoin to make profit. i personally also like the decentralized aspect and the currency aspect of bitcoin, but probably the most important aspect is that it allows us to make profit. that's what we all want.

There's definitely worse ways to spend your money,  and stay away from the casinos and bitcoin securities and all that crap.  There's a million ways to get scammed.

There are far better coins besides bitcoin though but btc still can be the best you can have since people prefer and merchants accepting it than any other coin.
who knows what could happen though 0.1 btc may not be worth keeping after halving.

I think there's no better coin and i think bitcoin is always better than other altcoin.. because its really profitable if you have a lots of money to buy bitcoins right  do it now and wait for block halving and make double profit or more..

I think he meant better technologically, like gen 3 or 4 coins as opposed to the gen 1 bitcoin.

That being said, the first mover advantage of bitcoin pretty much guarantees its dominance in this space.

This view is dangerous.

But if you have a tolerance of way you can mitigate your risk, then why not lol.

But I think newbies should stay clear in the alt coin section until they are more familiar with bitcoin 1st.

bitcoin has a really good future since the beginning of this year, due to the point the bitcoin is getting more popular everyday, also the halving is coming so that is another point why you should invest.

The halving could double the price. So it is better to invest now, and sell after the price rise in a few months.

Yeah bitcoin has great potential to grow day by day and halving is coming this year from what we can earn better profits which further add credit to bitcoin due to which we can observe more number of users joining this forum within short period.

The main reason that people is buying Bitcoin is that you have to know that we can earn some nice profit with Bitcoin if the value is rising and that would be great.
It is only possible when the value is going to rise and that is now not happening so that is bad.

Its our responsibility to keep ourselves away from scammers, but its very hard to come out of casinos and other methods of gambling if we make a entry as it is similar to an addiction.

I have bought some bitcoin as I think the price will rise when more people use bitcoin. We are the early adopters.

I would not take the risk to hold Bitcoins for so long because it is a gamble that you take. You will never know how Bitcoin is going to be at that point in time.
So I would at least try to sell some of them now and save some for later.

I will hold most of my coins. But I will not sell. I will just use some. That is same as selling but make it useful.

I bought the bitcoin for the profit you can make with it, I'm now just holding my bitcoins to wait for the right time.
Soon or later I can sell them for some nice profits!

I also bought the btc for profit reasons, like many others that are doing this for the profit.
In my opinion there is just so much profit in the bitcoin itself.
I think we can all make profit with it to be honest because its just such a good currency.

If you want nice profit, you have wait for long time. The price could be $100,000 in 20 years or longer.

well i have to say that buying bitcoins is always a good thing because bitcoins have good potential to become world currency, so it is good to have them now

and also it is good to buy them now for holding them for more profit, because price of bitcoin will rise in future for sure so buy now when they are still cheap and sell when they will be expensive

why would this be dangerous?
keep in mind that btc price is uncertain this block halving, it may go up or it may go down. no one yet has forseen which way this is going but one thing is for sure while btc rise most altcoin will also rise.
if btc goes down, some altcoins may stood still.

I am not sure about the effect of the block reward halving. But when the bitcoin is used by more people, the price will go up.

If many people use bitcoin, it means it is useful. Useful thing will have a value. The more useful, the higher the value.

the effect of block halving is mostly based on the speculation about supply and demand that will change because of the halving. it means when the block reward halves there will be less supply available, because there is less bitcoin being created so as the rule of supply and demand suggests, less supply with the same demand means increasing price.

There is definitely a lot of speculation regarding the block halving and the affect it will have on the value, but keep in mind a lot of the value is derived from what miners are willing to sell at to cover their costs and make a profit. If the halving really does have an affect, then we'll see the miners selling their Bitcoin for more. They have to eat too.

The initial value during the halving will definitely be speculation-based, but I am confident the base value will become apparent soon after it does occur.

That is true. The real value depends on the usage of the bitcoin. If nobody uses it, halving does not help.