Bitcoin Forum

were all doomed  :-* :'( :'( :'(

Sorry this was it. We're all millionaires, and you're not.

DOnt listen to the noob... yes do the math volume tells us its great to accumulate here or anywhere at these prices. Just keep working and buying bitcoins with a few % of your extra money.. dont put in more than you can afford to lose as it is high risk... however seems it is a good trade as of now.

My advice is to focus on reality and not on fantasies of striking it rich. I assume you have a college degree now. Use it.

There are so many happening right now over here. NXT last year, BTSX this year amongst others. If you keep your ear to the ground you will find so many get rich coins with enough volume to make you a millionaire.

Please take a screenshot of your bank account so I can fantasize about it?


But reality is people getting rich off Bitcoin. Are you implying it was a fantasy?  A college degree will get me nothing aside from a job as a janitor or electrician.  It would take 20 years to accumulate even 100k.


I'll keep buying 100$ of BTC every 2 months. However, that is useless considering it will take me years to accumulate even a miniscule amount.


Are you sure? If BTC appreciated by 1000 times, it would be worth 350,000$ a Bitcoin. Do you know how laughable that sounds? People would literally be more wealthy than the wealthiest billionaires on the planet the logic doesn't work out.


Those just sound like PnD altcoins. Where would you keep your ear to the ground? Alternate crypto forums is full of emotional shills.

Trading altcoins was the holy grail the last 12 months.

You need to start saving money (% of your income) and diversify your saving-investment portfolio with Bitcoin, Alts & some good stocks (always keep some cash just in case).

And like that you can learn to feel the markets much better, learn how the day trading feels like and afterwards decide which strategy you want to use...

 

Sorry. Let me fix that.

It might be $350k.. who knows... if it becomes used by banks then its possible. Like I said plan around it like its high -risk high reward.... dont bet it will happen for sure.

Both have very solid technology behind them and are innovative. They are pump and dump but then so is Bitcoin.

Alternate crypto, and see if some idea is gaining traction then visit their own forums. Basically you want to be rich, but do not actually want any effort put into it.

Sorry pal, no risk no reward. You've missed bitcoin now but dont despair, hopefully there will be other opportunities

My advice, find something you're good at and specialize in it. Focus 100% on that. Try and quit your crap job ASAP for something more $$$$ and quit doing drugs.

Also save money as much as you can.

Remember, get rich quick is a bad idea.

With altcoins and some luck you can do it fast. You see they chance a lot daily. You can actually do same with bitcoin and USD. price change 10% a day.

take it as a lesson.

btw. the lesson i talk about is:

dont spend your money on acid/lsd   :D

It's a piece of piss to look back now at anything that took off and wonder why you weren't in at ground level.

If you had been there since minute one the chances are exceedingly high that you would've -

mined some coins and lost or deleted them or been hacked

been ravaged by one of the countless scammy sites/ wallets/ exchanges/ 'investment' schemes

sold way, way before the price ever reached a serious high.

There may well be other opportunities in crypto land of a magnitude that's not too far off. No one knows what they'll be. If they did, they ain't gonna tell anyone else.

  so you joined this forum in feb of 2014.  it is now  oct 2014 . coins may never jump as fast as they did.  under 10 bucks in dec of 2012 to over 240 in apr 2013 down to 90 in sept 2013 and up to 1150 in nov 2013.   now down to 370 

that is a motherfucking roller-coaster ride.  do you think I know what the will be in 1 week nope.  but I know what I can afford to lose.

So I have 20-25 coins and I can lost that and be okay with it.

Here is my guess for you to do buy a piece of a coin as often as you can.  Do not sell any until they go back to 1000 usd then sell some of them.

Never buy more then you can afford to lose

There is no innovative technology in any altcoin. They just copy bitcoin and make one or more minor changes and add nothing of value.

The altcoin boom seems to be waning as alts in general are declining both in terms of bitcoin and in terms of fiat value. I would say that once the altcoin 'boom' dies down, there will be more room for bitcoin to be successful as people will be less distracted. 

If bitcoin fails, I believe that there will be no other crytocoin to emerge.

I know that feel OP. The truth of the matter here is IT'S ALL LUCK. People will not deal with this, specially these that were lucky enough to benefit big time from the ridiculous BTC gains. You have to be at the right moment, at the right time, doing the right thing. Most people that became millonaires off this were just mining Bitcoin for shits and giggles or investing in it just "coz its cool" (like huge cryptology nerds and whanot, like that guy that bought a penthouse by selling a part of his BTC, he was just a kid that thought it was cool and bought them, forgot about them, then cashed out while freaking out trying to remember the password). That's how it rolls. No fucking one knows what can happen in very long terms. Unfortunately the odds are against us. For us to retire off the suicide-inducing ratrace that is working, we would need at least 100K per coin. Certainly unrealistic, and if it ever happens we'll probably be too fucking old to enjoy the wealth, so who cares.
The odds are also against us in terms of something having insanely high gains like Bitcoin ever again during our lifetimes. I believe Bitcoin is what's called a black swarn in financial terms, this only happens every once in a bluemoon, so we are fucked.
Now, we could get a shit ton of money off some of the shitcoins (altcoins) that sometimes pop up and blow up. Like AUR, had we invested 150$ at the right time, we would have gotten a nice piece of the cake. Or had we been part of the instamine scam of DRK at the begining, owning a lot of DRK, we would have gotten a lot of money too. Even Blackcoin gave big ass gains.

The thing with altcoins is, the amount of gimmicks that would make a coin interesting are running out. Everyday it gets harder because someone has made it already. The PoS IPO one, the anon one, the PoW+PoS one, the "funny meme" one.. whatever. Once a coin has done it, forget about it if you didn't get in at the very early stages, and you not only need to get in early, you need to risk at least 0.5 BTC which is a shitload of money for most people (people like us). If you want to make it big with an altcoin, you have to risk big. It will never be like bitcoin where 25-50$ dollars in 2009 could have retired you 3 years later.

If you already rich, it would be so fucking easy to keep up stacking BTC, just buy 0.2-0.5 worth of BTC on new altcoins that have an interesting gimmick and wait for the gains. Once you luck out within rich status, you have to be very stupid to not keep increasing gains. The problem is when you are stuck on a rat race like us, waiting for that lucky moment with few money to buy tickets into that lottery.

As of right now, personally I own a couple BTC, couple hundred XMR and couple hundred BITS. BTC, because its BTC, XMR because it seems the only solid anon coin, and couple thousand BITS because it seems an honest team that's working on their stuff off the radar.

None of these is going to make me rich, unless something extremely lucky happens, you me or no one will get rich. Working hard to get rich requires tons of years, who cares being rich when your health is shit. We want to get rich while we still can enjoy the wealth, and the only way to do it is to search for opportunities and work with what you get which is usually wage-slavery tier income.

Good luck.

Find an altcoin that you have faith in. Something that is different and in some way better than the rest. Study market trends, check out different coins, find one that is under valued and buy as much as you possibly can. This is how warren buffet made his billions in the stock market. By finding a company that was undervalued by everyone else but he saw potential in. Then he loaded up on the stock and waited.

I would suggest Supercoin or Myriadcoin. Both have a TON of potential. I have a very large amount invested in SUPERcoin. It's technology is better than all other anon coins and it is so cheap right now. Buy for 500 satoshi and eventually it could be $1 or $10 per coin. Read, read, read... talk to people, study the charts, make a decision based on the information and you'll do just fine.

Okay, here is your best chance at what you want:

Step 1: slowly buy bitcoin as you have been
Step 2: wait for bitcoin to hit new all time high, which will start another bubble from media hype (the only reason is media hype, not cyprus/china/w.e)
Step 3: wait 1-2 weeks
Step 4: split some btc among 100 alts, lets say the ones ranked 20-120 by market cap, and put the rest on litecoin (litecoin should be 0.005-0.007 ltc/btc)
Step 5: when litecoin spikes, ALL the alts below market cap rank 20 will be primed to go AT LEAST X10, so get ready!!
Step 6: as the alts you own from step 4 go X10, sell and reinvest in the ones that have not / buy ones further down the rankings.

total profit: 2.5X from btc hitting ath, X10 from alts = X25, up to X50 if you can time the transition from btc to alts perfectly (ltc and nmc usually first, watch doge and darkcoin aswell this time though) and catch the major alts that go much more than X10. But you have time to think hard about this after btc hits ath and before ltc spikes.

GOOD LUCK, but this all depends on bitcoin hitting a new all time high   :) :) :) :)


Track record using this strategy primarily only with ltc and btc (would have been a lot higher in november if i followed my own advice and bought alts, but idk how much i trust certain exchanges)

April 2013 bubble: X50
November 2013 bubble: X13

I am just giving the OP what he wanted, but it will all come down to bitcoin hitting a new all time high.

Most altcoins are all but certain to fail because of the lack of additional useful features they provide that bitcoin does not provide as well as the fact they are much less secure then bitcoin.

I don't think we will see another crypto boom in that a lot of money will flow into altcoins as they have in the past. I think the reason as much has flowed into alt coins as there has is because many people made a lot of money off of bitcoin and have been able to be careless with their money. They did little research as to how much potential altcoins have and I think that people have now realized that altcoins have zero long term value

LTC is an altcoin that is doing pretty well. There are several with market caps over 1 million USD. Supercoin is completely different than btc. they are both digital currency, but they use different technologies and they represent two completely different ideologies. As I was reading your post I was looking online at some of the trading action. Dopecoin went up 2000%, other coins up 30% and 40%, all within 24 hours of trading. To say that altcoins will all fail and have no potential (which it sounds like you are saying ) is just simply incorrect. I made 40% on my investment last month, thank about what that means. 40% in one month. No financial institution in the world can even pay anywhere close to that.

I talked about NXT and BTSX. If you noticed that and still claim they are copies of BTC then you must be very dumb.

These two, along with others are making BTC look obsolete. The only advantage BTC has now is market effects borne of first mover advantage.

;D

Heard this from too many noobs, thus it must be fake. Moving on.

There isn't a single coin out there that can outdo Bitcoin, no reason to think any existing coin can overtake Bitcoin's spot, therefore, no reason to think there will be a x1000000 whatever price explosion like Bitcoin had. You could get some cash out of alts, but not rich, unless you hit a really lucky scenareo as greatle described by poster xmasdobo.

Anybody can make 20-30% in a month. Not sure what your definition of rich is, but if you invest 100k and you are making 20% or 20k, you're doing very, very well...so not really sure what you are saying

The altcoins that do have these kinds of returns do not have that large of marketcap that would allow someone to invest $100k easily (or at all). It is very rare for an alt to have a market cap in 6 figures, and many alts do not even have a 5 figure market cap.

So someone may be able to have 100% and earn 20% on their investment but they would not be able to earn 20% on the entire 100k

I hope it is still early years in the crypto currency life span.  :)

Hope so, and was hopping for another boom as I missed the last one...

for now, cryptocurrency number one in the world is bitcoin, no one can compete, maybe there are some who try to compete with, among others, as altcoin or doge, but apparently has not been able to match the price of bitcoin moment, while I am optimistic for the future bitcoin prices will increase and stable. hopefully ...  ::)

We are now living in the time of all previous QEs' effect expiring and dying and waiting for the next huge QE from FED that will be larger than all the previous QEs combined. Tide floats all boats as they say. When that next huge QE (will it be the last one?) hits the markets, everyone will run from fiat into something that can't be printed at whim. And that huge ocean of fiat will trickle into crypto currencies too, even if it's just a tiny trickle (10-20 billion USD out of trillions of QE). Until then it should be relatively quiet times in the crypto currencies, doesn't matter which crypto we're talking about here. BTC will stay below $500-600 till the next huge QE is released. Late summer - fall of 2015 sounds about perfect time for that QE.

QE is being withdrawn now. So I guess it will be some time before the next QE is introduced. The economy seems to be in good health. The fed won't want to rock it by introducing QE.

That's just pretense, as it always was. The economy is in much worse shape than it was in 2008 when they started to 'cure' it. Wait for the SP500 start to crash, they will re-introduce QE to prop up markets, but this time it will have to be really massive. It should stay afloat for another few months though without QE, but sooner or later all the credit will dry up.

QE is really not based on S&P500 levels. It is based on unemployment levels and inflation. If employment levels firm up and there is a threat of inflation increasing, there is no way QE will be introduced.

crypto other than bitcoin always there to compete with bitcoin market prices, among others, such altcoin or Dogecoin, both cryptocurrency price is still below bitcoin, but continue to increase the price of exchange, of course, is great competition in the business world and currency markets, it can avoid the monopoly cryptocurrency, so there will be continuous improvement in the cyrptocurrency, hopefully done competition is healthy competition ...  8)

There won't be another crypto boom if bitcoin is still alive
Or maybe the boom only similar as LTC / DOGE


Me too
Some people said in end of 2014, bitcoin will reach $1000

i love this post  :D

A lot of bitcoin millionaires in end-2013 must be regretting not selling out.   ;D

Don't be too frustrated.
1. By having this history, you are likely to seize the next opportunity. May next new great crypto that will replace btc. This will help you a lot.
2. Who knows if BTC will skyrocket a gain and reach $100000? Buy some every month. It's still not too late.

There is no bitcoin millionaires, there are lots of  few 1000 BTC holders, some few 10k BTC holders and few few 100k BTC holders. No millionaires.

Crypto boom can be with BTC once again  ;D Regarding other crypto currencies - I do not know  ;)

Nxt coin did make many people extremely wealthy. But choosing a good coin is like finding hitting lottery.

I don't think BTC can go x5 order of magnitude again at this point, we'll see tho.

U sure about that?

It was hardly much of a boom.  Dot.com in the late 1990s was $7 trillion.  Bitcoin peaked at $15 billion, because only 500K-2M users are using it.


Besides we know from the website BitcoinRichList that there isn't that many rich.  I looked at the numbers and it looks like only 55 active addresses (past 30 days) own more than $5 million.  

Then there are the charts which include all the addresses going back to 2009.  There's 1700 addresses with amounts more than $3 million.  Addresses are not people.  A lot of these belong to exchanges, are lost or inaccessible funds, multiple addresses can belong to the same person (a common security precaution), et cetera.

So in actuality, especially at current prices, I would be surprised if there's even 300 rich Bitcoiners who have access to their funds.


Here's some rhetorical logic -  if loads of people were getting rich off Bitcoin then how come this forum (or Reddit) isn't full of people posting photos of their brand new Lamborghini and mansions?  You know that stuff would happen if many ordinary people were getting rich.

http://www.dailydot.com/business/4chan-bitcoin-lamborghini/

The origin behind that story.  Still I presented a good argument - if there was thousands of rich Bitcoiners then everybody would be posting photos of their cars and mansions on here.  If you had 1,000 rich Bitcoiners then you only need 1% of them (10) to be bragging about it nonstop on Reddit and Bitcointalk.

The great thing about speculation is that it requires no specific knowledge or ability. Any person can look at any series of facts and give their opinion. I can think of a dozen points off the top of my head that disproves your theory entirely. The most obvious is that you have not taken into account any medium of exchange besides bitcoins. Your measure of wealth is based of bitcoin holdings from the rich list.

Do you think zero people sell bitcoin for fiat currency?
Do you think zero people sell bitcoin for altcoins?
Do you think zero people use their bitcoins for purchasing power?
Do you think that zero people have traded bitcoin for other assets?
Have you considered the thousands of bitcoin businesses that have been started from bitcoin earnings?

Josh Garza's purchase of btc.com for 1 million dollars.....

I could go on and on but I don't have the time to correct ignorance.

I'm too busy NOT making money on bitcoin, right?

Satoshi should be the only bitcoin millionaires.

Are you sure? If BTC appreciated by 1000 times, it would be worth 350,000$ a Bitcoin. Do you know how laughable that sounds? People would literally be more wealthy than the wealthiest billionaires on the planet the logic doesn't work out.


Those just sound like PnD altcoins. Where would you keep your ear to the ground? Alternate crypto forums is full of emotional shills.

[/quote]


If you continue thinking this way, for sure you're not going to be rich

Watch out for generation 2 coins.

Sooner or later, most coins must die to make room for one.

That will be happen when BTC can't be mined again.
Some coins who have trusted and good dev behind it , will rise and which will number one ? depend on society

Thanks man.

I shed several tears reading this. Life is a cruel, hilarious joke it seems. All about being there at the right time and synchronicity. Fuck, might as well purchase 500$ worth of DRK and sit on it for a few years, right? Who knows?


Cheers for this. I will split profit with you and adopt pets if this works. It's actually a solid gameplan,  BTC better bubble again - doesn't karma want me to adopt pets to live in a good home? I can only do so with lots of $$$/BTC :)

First of all let me just say that I didn't make a penny, in fact I lost money, on Bitcoin finding out about it fairly early (in 2012 I think). It's easy to call tops and bottoms looking back, but it's a little harder doing so in real time.

I DO think that we will see higher Bitcoin prices in the future, so it might not be too late for you, but I'm going to be honest: Looking for a get rich quick scheme is a fools errand. Besides a very few lucky people, if you want to make a lot of money you are going to have to work for it.

My advice? If you make yourself the best employee you can be I seriously doubt that you will get stuck in that kind of job your whole life.

Life isn't easy, just like everyone else, including me, you'll have to earn your keep.

Booms and busts are part of the business cycle. So even though the magnitude might differ, the cycles might repeat

What is gone is gone. Looking back the past and regret is just a waste a time. If you trust and believe in future of bitcoin just put some of your monthly earning into buying bitcoin.

"Will I get lucky" says OP. Remember, even if you had, it'd probably have meant some other guy somewhere else didn't get lucky to compensate. We can't all be "rich". That other guy likely needed it as much as you do.

The better option all around is to live as frugally as you can. You can live better than others on a similar salary if you manage your money differently.

Research frugal living, "mr money mustache" and co.

>Does anyone have any info on how often this happens, and how I could get to know about such a thing early on? Is there a secret IRC or forum where people discuss this?

There is no "secret forum". Your best bet is to keep your eye on bleeding edge tech, for the fun of it. It's what I did, and so I heard about Bitcoin earlier than some. (Still didn't get rich though, I was a poor recent grad).

And 95% of people who heard of Bitcoin in the early days ridiculed it and laughed at it. Probably you would have too.

(And maybe, just maybe... We are still in the early days of Bitcoin, and opportunity still awaits. Maybe you are currently participating in said "secret forum". Shh, don't tell anyone.)

Most rich people get rich from hard work, clever work, starting businesses. Don't make your future depend on winning a lottery. HODL a few BTC, and go start a business.

If BTC will fail, it will be very hard for people to trust again on alts.

It won't be a quick and one time event, it will fade slowly, with capital gradually (over the course of 2-3 years) flowing into a small number of alts with unique and prominent features. The capital flow already started by the way in 2014.

Please demonstrate. Is there a youtube video that shows these "unique and prominent features" in action?

BTC will not failed , price will always in good range.
And other crypto is only can follow but can't match up with BTC.

Probably the next boom for Bitcoin will be when Trezor is bought by Sony to develop Bitcoin ICs for cameras, smartphones, and other high end appliances to timestamp automatically on the blockchain.

is a trezor worth buying now? I have read some people love it and it works great but others have issues. Should I wait until they work the bugs out?

Yes if bitlicence turns out to be a positive news..

I don't have a use for it. It's current configuration is just a proof of concept without much real world utility, and a collectible. It's enough to show the world that the protocol is real and can lead to a manufacturing boom.

I like this strategy.
You think we'll need 2 week from btc bubble to ltc bubble? It's been like that?
And about buying all the altcoins just before the spike, dont you think is a good moment to buy now?

Spike order
1) Bitcoin
 2 weeks
2) Litecoin / Namecoin / Dogecoin / Darkcoin
3) Top 20
4) Top 1000 ;)

What makes you guys think Litecoin will explode again?

because untill now , no other altcoins can match lite.
or we can say lite is more famous than other alt and miner still like it.
but still , lite will not explode like before.

Saving 500 USD per month for Bitcoin is absolutely fine.
800-1000 would be better but 500 is a good start.



On the contrary, the death of BTC would free the alt market.

I don't think the altcoin market would be able to thrive without the help of bitcoin.

The fact that bitcoin has been so successful in such a short period is the reason why there is such a demand for the shitty altcoins

If Bitcoin dies the altmarket is DEAD. Bitcoin = crypto. Bitcoin dead = the dead of crypto. Simple ass that.

Give me one single example of a market that disappear/vanish when the leader goes bankrupt.

I love Bitcoin but it is nothing more than the actual leader of the market. When the leader die, the challengers take its place / eat its market.

Bitcoin can't die. Only the weak hands will.

Litecoin will probably explode again because of the simple fact that you can still mine it. It's a good "middle class" coin.

Bitcoin cannot die today I agree but no one knows the future.
Weak hands always die first in any case.


Litecoin is dead long ago.
The volume is absolutely fake.
Only someone retarded or extremely naive would believe those numbers :
http://www.cryptocoincharts.info/coins/show/ltc
http://pix.toile-libre.org/upload/original/1414579270.png

OKCOIN + BTCCHINA = BULSHIT


Moreover, 99.9% of the mining of LTC is made my few giant ASIC farm owned by Litecoin devs, that's the reason they refused to change the algorithm.

If bitcoin will no deliver what we expect it to deliver then we need to wake up from this crypto dream.

How would you suggest litecoin is fake? The transactions are posted in a public ledger... LTC Gear pays out each week. The address I receive my payments from holds over 14 Million LTC. I would suggest doing the proper research before you throw out ridiculous accusations.

That's pretty interesting, would like to know more about that, do have a spare link lying around?

Litecoin is weak as fck.

I suggest volume is UTRA FUCKING fake. Yes.
364000 LTC per 24h on one exchange ? 12000000 per months ? come on...


There was a huge debate about changing Litecoin algorithm.
Satoshi wanted Bitcoin to be mined by normal people on normal computers around the world and certainly not by giant ASIC mining company.
The reason Litecoin has been created was to be the cryptocurrency that Bitcoin was not any more : a crypto that you mine on your computer, a very decentralized network.
A group of people claimed that there were about to fork Litecoin to a new ASIC resistant algo.
The Litecoin devs themselves got crazy mad despite the fact that Litecoin is not owned by them and they had no right to stop them.
The forking Litecoin group got very active for a time and suddenly disappeared for no reason, leaving no official explanation.
We have proof (from users hashrate reported on some Litecoin pool) that some people were mining Litecoin with ASIC before the official release on the market.
The fact that Litecoin devs where so violently against protecting from ASIC industry show that they were probably big investors of ASIC hardware.
The forking group suggested that if the Litecoin network would be owned by ASIC industry, the original investors would be ruined and this is exactly what happened.

This is a good thing. It shows that gaming the system doesn't always work because there are always bigger fish than you. That's why Proof of Work doesn't need to be decentralized, it just needs to be competitive and vulnerable to outside incursions.

It depends how you see things.
Yes, the competition should make it stronger but I believe that the centralization make the network much weaker because it create a central point of attack or corruption.
Once 80% of the network is owned by one ASIC farm, you can take it down or bribe them.

Or you can build a bigger farm.

No, not in my lifetime I say.

If bitcoin slumps back in the mud, there will be no crypto boom ever again.

Unless you are over 60, I would venture that you are wrong.  ;D

selling my genesis-mining account. 43MH scrypt for $12 per MH OBO, msg me please!