So I said buy low and sell high, that is the only strategy to actually use. But how do you know when to buy or sell
Someone responded with "Every single time is the right time" I am not sure what you mean by that.
When people say "every single time is the right time" they just mean that they go for long (they are investing long term and don't care about the current price because they think that the price will be ay higher in the future). |
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1.500 dollars doesn't seem too much to worry about in terms of taxes. I would start worrying if it was a bit more expensive and you didn't pay any taxes on it. I don't know where's the cutoff tho. You should get your stuff taxed anyway (obligatory statement).
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even Instagram got 400 mio users within 4 years  Comparing it to something free, 'cool' and accessible from Facebook with a couple of clicks is a bit of a stretch, no? Yup, it's a pretty pointless analogy. Instagram doesn't require any thought, it's just "upload pictures on webpage". Thats why it's so famous. To get a technological revolution to that level of fame it will require more than just going viral. |
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I think it's normal that a lot of people is using it as a long term investment. If we were in the pre-crisis days then maybe peopel would see things different, but right now with this constant feeling in the air of things about to collapse, you want something radical and outside of the system to put some of your wealth, and Bitcoin is that alternative.
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I would probably sell it. But then again, you never know if in 10 years Bitcoin will be all over the place and someone comes up with a great idea related to "blockproof" and wants that domain at all costs and you are missing on a bigger deal. Of course you never know, the only thing we know is you can have 1,500 now.
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So shall Bitcoin become an elite network with high transaction fees?
I truly hope not. A lot sooner rather than later someone will come up with a system that does everything Bitcoin can and more for everyone who wants and needs to use it without ravaging them with fees or funnelling them through a centralised service that can fuck them over. Those who think people will fork out large amounts for the honour of their place on the BTC blockchain have a massively overinflated sense of its current importance and potentially fatal lack of perspective. Well it seems it's heading to become some sort of Gold 2.0 rather than a currency that manages low quantity transactions at high volumes. So that's why stuff like blockstream comes into place, it may bet he only way to make the coin act as an actual coin that can be used at very high volumes for small purchases. |
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Lol, I don't like this design, too cult-ish, would scare people away. We need something more simple, with a sense of humor, or just serious at all, because people may not get the joke. We need to inform people. Some rich guy should pay for OP's billboard in a highway. |
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If Bitcoin does not work, then why I was just able to buy 3 games on steam? Let alone the people that has been living off it alone for a couple years now (granted, few people, but some have managed to do most of their expenses and payments on Bitcoin).
The protocol works, that's what matters. In the future more people will use it. We are on the 1990 internet era when it comes to Bitcoin.
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If you want to store long term as you should, make an address on bitaddress.org. Do it offline (look it up on youtube). Ideally, do it by booting a Live DVD of Linux on it to guarantee the OS where you create the wallet at is not compromised.
After you do this, what you'll have is a paper wallet that has never seen the internet. You can extract money from there in your money to do purchases.
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Do we include this post "posts"?
Name: thejaytiesto
Posts: 878 (including this post)
Activity: 322
Position: Sr. Member
Coinut username: thej58392
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WEll, it seems the Winklevoss brothers have been beaten once again because they executed their idea way too late, even tho they had the idea originally first. Let's see what they do now, maybe that ETF pushes their agenda to work harder and get theirs done soon to compete.
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This certainly didn't work to spread the idea of a Bitcoin ATM https://www.youtube.com/watch?v=vnm4xFC2xNoWe are way too early in the game. The more Bitcoin gets exposed in the mainstream the worse. We should only get mainstream exposure once it's all fine tuned and ready for average Joe consumption. But I guess it will be a nice piece of history to look back at those videos and laugh at 1) How archaic the technology was back then 2) The idiots that didn't see the potential and didn't buy cheap Bitcoin |
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The best time to buy Ethereum was the announcement day. If you bought last year and sold it already don't buy again. Hype is done.
I think ETH has a place to exist within the crypto world long term. Of course it may not even be #2 coin (#1 will always be king BTC) but we need something extra for smart contracts. In this sense, ETH may not be a dumb investment, but of course, there's no way to know how low it will go. It has been crashing for a lot of time now, it's scary to pick a falling knife. |
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When Andreas speaks people listen, he's probably my favourite (publically known) bitcoin advocate. He really does seem to have bitcoin/the networks best interests at heart, no bull shit & no agenda's.
He's successful precisely because he isn't a core dev. It's a shame all core devs have monotonous voices and have no skills to communicate whatsoever. Gmaxwell can be somewhat enjoyable, but man I tried to listen to Adam Back's podcast the other day and it was difficult not trying to fall asleep. Guy is a genius but speaking is not his thing. |
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I don't see how bullets would prevent anyone from cracking your wallet if they had the processing power to do so. In fact, they would not ever need to come in contact with you.
I'm hoping that he was not just stating nonsense, but was rather just trying to show his disapproval of the NSA. Also, think the following: if you are so scared to show that you use Bitcoin, what will happen in the future, when a large part of population will use it? Will they all pretend to be still using dollars? What will happen? The NSA will have a harder time doing anything illicit with the information they're tracking, because the more people that use it the greater the protest if something illegal happens from the government agencies. Well, unless something changes within our society, the spying and tracking is only going to get a lot worse. One should not be scared of using Bitcoin. Why are you using anything Facebook, Microsoft or Google then? Bitcoin is different due to it's decentralized nature. They can't force companies that accept Bitcoin to reveal information if they do not request it. I've recently bought some digital codes, and aside from a e-mail (for delivery), the seller didn't receive any potentially harmful information. Tl;Dr: Bitcoin needs to acquire anonymity features that would be built into the client as a optional (not standard!) option. The real tragedy seems to be that people simply don't care. Most people out there are clueless, they are updating to Windows 10 and don't give a fuck if it is spying central or not. No one of them is going to go throught the hassle of installing Linux. So you can see where things are heading. Windows 10 will be the most used SO in the planet in no time and anything that runs under it will be at danger, including Bitcoin. People has no sense of privacy anymore, just look at how huge instagram and so on is. |
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Who gets their info from something called a trollbox.
People who trade crypto. Trollboxes make it easy for people to participate in the conversation, but the conversation usually isn't worth having. Trollboxes made it easy for people just to scream "buy buy buy" or "sell sell sell" in various different ways. You rarely get any decent information from them just biased opinions much like you get in the Speculation sub here (which is basically bitcointalk's trollbox). There are hundreds of creative ways to scream "buy buy buy" in a trollbox. It must get some results, or they wouldn't keep doing it. Exchanges keep trollboxes because it's fun. For example, being in Poloniex watching charts for an hour alone would be boring as hell without the trollbox. I enjoy chating with random guys and having some guy with some subtle trolling. Sometimes you can find a legit conversation in between all the trolling. Sometimes predictions are correct and sometimes you get scammed (not me since I follow my own agenda I trust none of the predictions). But overall is a good idea, it brings more traffic and fun. |
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It has been advice to not get involved with cloud mining whatsoever. The most legit company used to be cex.io or something like that and apparently they stopped the cloud mining service because it as just not lucrative. I wonder what exactly made cloud mining a complete failure. It looked from the surface like a great way to mine Bitcoin without having to own miners yourself.
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I've always been certain Szabo is Satoshi but even more convinced after hearing the pod-cast. He seems to go out of his way to refer to Satoshi in the third person. Also the fact that no-one really knows much about Szabo shows that here is an individual who is very careful about protecting his identity. I think also that Andreas knows that he is Satoshi - he's almost referential is his questions to Szabo.
Well..no. Satoshi's white paper propose a solution for small casual transaction, just read his introduction. If Szabo is Satoshi then he changed his mind. Yeah, I thought this was interesting too. I tend to fall in the Szabo is Satoshi camp but Szabo is really clear lately that a main goal wasn't small transactions which seems to be at odds with Satoshi's vision. So I agree he would have had to change his mind. Another possibilty could be Satoshi was Szabo and several other people, and the others disagreed on that point.  Satoshi also mentions payment channels which are an integral part of Bitcoin. It's quite obvious the Bitcoin blockchain is not ideal nor desired for small casual transactions Where can I read Satoshi's quotes addressing the small transaction volume problem? I wonder if he predicted something like blockstream being built on top of Bitcoin to deal with small transactions. What has his view on this on-chain/off-chain duality? I must know. |
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Again, this video is just BitcoinXT in different clothes. The problem is easily solved by the very thing that freaks the fat guy in the video out - fees. You pay a higher fee (3 cents?) you get your transaction processed faster. You pay no fee you might have to wait 30 minutes to 3 hours.
For instance, if I'm sending 0.4btc to my mother in the deepest darkest jungles of africa I don't care if it takes 3 hours to confirm. I send with no fee and volia. I'm happy. She gets her coins. She pays the local warlord 0.1 btc for security.
Now, say I'm sitting at a register and I need to have a fast transaction. I pay 0.02 btc for a sandwich. The merchant takes my 0.02 btc, allows 3 cents USD for the fee so he knows he's paid almost immediately, and I leave with a full belly.
You guys keep thinking that 1 btc should equal $300 forever, but that's ridiculous. The currency will be worth more due to inflation. And as fees rise you'll pay $0.50 USD for an ultra fast transaction, but it will never be more than the MARKET can bear. It's the way markets work.
Quit monkeying with the system and crying doom and gloom. Bitcoin is great. Use it and enjoy yourself.
Have none of you guys studied fiat currency? You're setting a very bad precedent and making bitcoin seem unstable, killing the likelyhood of more adoption by the masses.
Edit: Going slowly through the video segment this guy seems to think that charity and goodwill will carry the mining community, but that's insane. Would you work all day for free hoping someone would slip a nickle your way?
This. Let a fee market develop is the way to go vs ruining decentralized nodes. If you want a better service pay more for it. It's still free goddammit, if you want to do it for free then wait your ass until the transaction gets confirmed or pay a smaller fee if anything. Bitcoin will eventually be valuable as hell because it only gets more scarce with time. No one is going to keep the mining process going without incentives so the fee market is the way to solve this. |
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I would hodl til 10000.
Nice! Keep holding and keep waiting until you get older Bitcoin never will reach to $10000, so i just can say have fun with your time  It seems you are not aware of BTCitcoin spirit and don't know what is it in real, only BTCitcoin has potential to get price over 10k for each even more than that with it's true revolutionary freedom of use concept. Revolutionary concept doesnt mean bitcoin price could reach $10,000 imo. But if you said it will happens in over 30 years, well the chance is little bigger for that. If Bitcoin isn't 10.000 in 10 years it will have failed. The total supply will be almost done by then, which means the price must be proportionally as high the demand, so if the demand is big and the supply is small, the supply must be as big as the demand, and 1000 doesnt compute, at least another figure seems more reasonable. It's pretty simple. Supply and demand, and the supply only gets smaller while the demand raises. 1000 is nothing. We are just physiologically conditioned to think 1000 is some sort of impossible to surpass price unless you look ages in the future. |
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