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To be fair I was already rich. So it has only made me filthy rich.
Not what I "wanted". But so many people panic and leave all their money on the table. It's hard not to take it.
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Rule #1
Thou shall not invest more than thou art capable of completely losing.
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I totally agree with you, and I've been making the same point for probably as long as I've been a member of bitcointalk. The opportunity cost is way too much. The other thing is that I get my paycheck in fiat, and everything I need is priced in fiat. There's no reason to buy bitcoin just to turn around and spend it. It has always been a speculative instrument to me and always will. It can function as a currency, but that's not really what its primary purpose is.
Bingo!!!!!! CURRENCY IS NOT THE PRIMARY PURPOSE. I wish more people understood this. People like Satoshi Nakamoto? Bitcoin is ONLY a currency to me and was designed as such. I have no interest in risking my financial freedom by using dollars. Last year I had to replace my debit card 3 times due to security breaches. Guess how many times I lost my identity using bitcoin? And just in the last weeks we find out that in the Equifax breach 55% of adults has their identity stolen. You can see if you are involved here: https://www.equifaxsecurity2017.com/Of course the Eqifax board sold their financial position before telling anyone. How shitty is that? Is this the dollar you think is so good for you? Bitcoin is the best currency in history and miles beyond driving truck loads of local currencies all over the world. You can keep your bank coupons. |
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I ONLY spend bitcoin online and I think you have a point. I now expect to pay less when I buy with bitcoin. At least 2-3% less. I can demand this because I know thy are saving 3% vs. a credit card. For example, here is a little gold. Notice that it is $14,270.50. However if I pay with bitcoin it is $13,856.20. That is saving me $414.30 per bar! https://www.amagimetals.com/gold/bars/10-oz-pamp-suisse-gold-bar-999-fine-gold#Better money commands a better price.  |
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But here is the problem with that.
Less volatility is achieved by forcing people to use their money the way you want it used. The New York stock exchange was as volatile as bitcoin until it was managed. Now it is controlled to the point of being gamed.
If you want to end the volatility just hard fork to a coin controlled by the federal reserve. They can decide when you will sell and buy, how much, where you can spend. They could set a value for bitcoin that is stable. That way you won't make any mistakes with your money. Such as getting rich without permission.
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With all the negative news going around about bitcoin coursing a lot of panic and anxiety....do you this its time to look else where for a guarantee investment?
i mean may be eth doge etc....
A "guaranteed investment"? WTF is that? I think you are thinking of an "alt-coin scam". Only a scams offers any guarantee. Try having that put in writing in a legal contract. If you do find someone with secure-able collateral who is willing to sign such a contract then I'm in for... Let's do 1M for starters. |
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I felt like I missed a great opportunity at selling high and buying low when it reached 5k and drop to 4k a couple of days ago. Now it happened again from 4k to 3k. You think it will happen a third time, from 3k to 2k?
Yes. It will happen in 45 hours. Is this the kind of answer you thought you would get? Dude. NOBODY here knows more than you. You many get confident answers in every direction, but it is bull shit. Make your own plays, call your own shots. |
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You newbies crack me up. Still talking about "legalizing" bitcoin when it has never been illegal.  |
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If the government came out today and declared that Bitcoin cannot be accepted as legal tender for purchases, I believe Bitcoin would find a way. It would find a way only because of the anonymity that today's cash affords people. Cash is the lovely bridge that people use in turning their Bitcoins into value. What government? On what legal grounds? Tomorrow though, when there is no longer cash and the only form of payment is electronic, and where all electronic payments are handled by auditable pools of companies, what will happen?
90%+ of your transactions are already electronic. Most people do not have a penny that was not accounted for electronically. Your paycheck. the ATM, online banking, etc. Banks do not actually hold your money, they are just credits on a ledger It is because of this that bitcoin will crush banking. Bitcoin is a digital native response to banking's clumsy attempt to fit paper money into a digital system. This all helps bitcoin. |
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Hmmm. I'll be in southern Africa in a few months. May have to pay these guys a visit?
Please report on the experience. It'll be interesting to see how many regular people are using it, and some indication of how frequently. I predict it may be a little prone to overall awkwardness, on-chain transactions are a bad fit for this kind of retail experience. I have the same questions. Perhaps they have another control that allows zero confirmation transactions. Like you have to have a customer account to use BTC? I'll report back, but it will be in December. |
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A system like this may have a future. It's a reasonable alternative to ad revenue, assuming a site is up-front about it. There are other tests like this underway. Look at Brave browser's opt-out with bitcoin option. https://www.brave.com/ |
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Hmmm. I'll be in southern Africa in a few months. May have to pay these guys a visit?
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1. bitcoin
2. bitcoin
3. bitcoin
4. Assuming you are fully aware of how to structure smart-contracts, maybe ETH.
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I hope the haters understand that they had a chance to buy during the crash. My guess is they will be upset that a few of us bought up their panic sells and will make insane profits when the dust settles.
If you want to be profitable there are lots of stratigies. IMO, the best one for bitcoin is to run counter-market. That means buying when the charts are all red and selling when they are all green.
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What kind of question is that, lol. Can capitalism survive without communism?  The crazy part of the story is that China has any interest at all in Bitcoin. |
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On what legal grounds?
Maybe in a totalitarian communist regime bitcoin can be made illegal, but in the free world a legal case would need to be made. I have never heard one, have you?
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Predicting a bitcoin crash is like saying it will rain... someday.
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Let's crowd source the destruction of Quorum.  |
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Perhaps this is fraud, but while someone can make money on this, I think it's worth using this opportunity  So you are hoping to be the unwitting beneficiary of a fraud you know nothing about? If you want to see A real fraud open a JPMorgan bank account. They are the "most corrupt bank in America". |
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Yikes 5K per BTC? You need a new guy. But this is a time to buy, not when it's going up silly.
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