Bitcoin kicking ass

[sakinago]

True. I don’t think it’s ever gonna go back down to anything below 1000 in a crash. Bitcoin is kind of an asset/hedge/stock as well as currency all mashed in one. It does have practicality. A lot of foreign folks use it or other cryptos to send money back to families across boarders. You can use it on sites like overstock to purchase. Amazon added a couple crypto domain names, so they are starting to pay attention. Even if they don’t accept straight bitcoin there’s sites you can go on to exchange BTC for amazon gift cards. You can use it like a mini savings account since it’s unhackable technology, and as of now has a ridiculously awesome interest rate haha. They even have BTC debit cards, and BTC ATMs now.

I still recommend that everyone get precious metals. But billions of billions of people around the world can’t even afford the smallest quantities of precious metals. And if global crises hits, or some country has an economic collapse, or even just a hard recession. They’re gonna be enough people running to it that’s going to skyrocket the price. Banks all over the world, including US banks, are all ready to either just take money from their customers or go with negative interest rates on savings accounts to force people to spend. People who don’t trust what their respective countries crazy economic policies are defiantly view bitcoin as at least an option, maybe even trust it more than their own currency.

It’s getting ready to go up on the CME, that’s gonna add more faith to it, as well as inject a shit ton more money. That could lead to a domino effect of the rest of Wall Street joining the party, which will further inject more money into it.

I really think it’s all just beginning. And the people who think that too, have been laughed it since it went up to 2000. The bears keep calling it a bubble every milestone it hits. I just think they’re too used to thinking in terms of stocks and the stock market. If it was a stock doing this I’d definitely agree with them, but it isn’t, it’s a wildly new concept we’re just not used to.

Anyway put a 100 or so in. Play around with it. It’s at the very least wise to dip your toes in now.

Bitcoin is kind of an asset/hedge/stock as well as currency all mashed in one. It does have practicality.

Practicality? How much is used to buy goods/services?
How practical is a currency that goes up or down 10% a day?
People complain about the dollar going down 2% a year.

Not a lot, a majority of people trade with it, which adds stability. Look at all the past years, it’s been climbing steadily, because a lot people buy low and sell high with it. And the number of people doing that and the money involved has increased. But the amount of traders give me a lot of confidence that’s it’s not going to crash and burn, since once it drops 10% they’re all over it.

But like I said before there’s BTC debit cards and BTC ATMs, and people do use it peer to peer. Overstock accepts it as well. I don’t think places like amazon are going to adopt it in the near future...but maybe they should. Someone buying a 30$ toaster now with BTC, well that 30$ in bitcoin could turn into 50 if they wait a month, with the way things are going. It could come crashing back down, but I don’t think so. Not when Coinbase is adding 100,000 New users a day, and people in China and India are freaking loving it. 32% of millennials preferr trading it over stocks. It’s easy to get into, and you don’t have to make over 50,000$ a year to get into it, like stocks. Friggen sweat shop workers can get into it.

Again, it’s wise to dip your toes in at the very least. Either this is a bubble, and you loose maybe 20% of the money you don’t mind loosing that you put in...or maybe these guys we’ve been calling crazy, who keep getting proven right, are also right that it’s gonna keep going up, and this is the very beginning of a larger parabolic curve. Only 2% of the world is currently using it, and a vast majority have less than 100 usd into it...what happens when it’s 3%? What happens when it start getting traded on Wall Street? What happens when economic crises strikes again?

Not a lot, a majority of people trade with it, which adds stability.

A currency, not being used as a currency, adds stability? What stability?

it’s been climbing steadily, because a lot people buy low and sell high with it

Ummmm.....if you buy low, you bought from someone selling low.
If you sell high, you sold to someone buying high.

Someone buying a 30$ toaster now with BTC, well that 30$ in bitcoin could turn into 50 if they wait a month,

Or the $30 in bitcoin could turn into $15.......

It could come crashing back down, but I don’t think so. Not when Coinbase is adding 100,000 New users a day, and people in China and India are freaking loving it.

Yes, adding more lemmings does extend the scheme.

you don’t have to make over 50,000$ a year to get into it, like stocks.
Friggen sweat shop workers can get into it.

Wasn't there a story about a shoeshine boy giving Joe Kennedy some stock tips?

is is the very beginning of a larger parabolic curve.

And we all know parabolic curves never end......

They don’t end well in stocks, I absolutely agree...but the bears of bitcoin have been calling for it to crash since it hit 2000, and have a been saying the same thing every single “unrealistic” milestone it has hit. Why have they kept getting it wrong? It’s because they are thinking of it like it’s a stock, in the market. A market that has roughly the same amount of investors, divvying up their money among tens of thousands of companies. It’s not that. It’s more like a brand new stock market, that a street chicken vendor in India can get it on, with only 3 or 4 big companies in the market. (Sure there’s a very small minority of people like the shoe shine boy) but that rarely ever happens. It’s much easier now for a the street vendor in india to buy bitcoin, than it is for him to buy shares of Fitbit or whatever. Here’s the kicker only 2% of the world are actually using that. And it keep growing and growing. What happens when it reaches 3% 4% 5%? What happens when Wall Street starts adopting it (CME is getting ready to this month)? Your talking about drawing from a pool that includes basically the entire world outside of the severely impoveished, vs a pool that stays roughly the same size of those investing in stocks.

There’s millions of people who’ve wanted to get into bitcoin who just never got around to it, millions who are on the fence about it. The confidence in it just keeps rising and rising, and more and more will buy it. It’s still early in the first inning.

I’m sure you or many people who don’t play the lottery will buy a ticket when the jackpot is huge. Just because, what the hell, it’s only 5 bucks. This has better odds than the lottery, and if it doesn’t work out, the chances of you loosing all of your money are astronically low. So what it you only get 3 of your 5 bucks back?

It’s like I’m telling you guys you could buy shares for cheap for what could turn out to be the next google or Facebook. Maybe it won’t be, sure, but I think it’s worth the risk. A small risk I might add, again I’m not saying pour your savings into it. Dip your toe in. Or not, and I’ll keep posting like a gitty teenage girl when it keeps going up. Or you could be right, and I already made my money back, so I’m at least nuetral. That happened in about a month and a half, and I thought I bought in late at the time.

but the bears of bitcoin have been calling for it to crash since it hit 2000, and have a been saying the same thing every single “unrealistic” milestone it has hit. Why have they kept getting it wrong?

Chinese people trying to get their wealth out of Yuan keep piling into Bitcoin.

It’s because they are thinking of it like it’s a stock, in the market.

I don't think it's a stock. It has no earnings. Pays no dividends. More like a chain letter.

It’s more like a brand new stock market, that a street chicken vendor in India can get it on, with only 3 or 4 big companies in the market.

Yes, when unsophisticated poor people buy into a new fad nothing bad ever happens.

It’s like I’m telling you guys you could buy shares for cheap for what could turn out to be the next google or Facebook.

Exactly!
It could turn out to be Google ($19 billion annual net income) or
Facebook ($10 billion annual net income).

Resorting to strawmen? I think someone’s a little jealous....maybe a little afraid of the unknown?

Never said it was buying into google stock at 19billion, just said it could be LIKE buying into google back when the shares were cheap. Here’s the difference, when another recession comes, it’s gonna be the “safe” stocks that take a hit. Bitcoin could get a big boost. It did after Crete, it did after Greece. It’ll probably happen after the Venezuela tire fire finally collapses, you got Argentina pretty much right behind it. We’re due for another correction (I should just say correction since we fought off the one we should’ve let happen in 2008). If that happens, not only are we in bad shape, but so is Europe and China, so that’ll send ripples through their markets, and may even collapse the weaker markets of Europe, Italy, Spain, Greece. Greece who was playing around with the idea of switching over to crypto during their last crises.

Not saying BTC is a sure thing. I’m loving the trend though, loving that naysayers keep eating crow, love that I’m making money.

Again the reaction from a lot of people here is a little over the top. It’s kind of amusing. Again not saying dump your saving. Just play with it. 10 20 50 whatever. Blockchain is the future, for many things, not just in crypto currency either, probably time to familiarize yourself with it. Maybe bitcoin isn’t the future, but I’m thinking it’s gonna go for a pretty fun ride. What it had done so far is nothing short of incredible. And it’s not slowing.

 

[Rustic]

Since bitcoin is backed by less than Enron it will suffer the same end. Fiat money is Fiat money no matter the name.

What do you think the U.S. dollar is?

The US Dollar is backed by the Federal government which is backed by the US taxpayer.

The good faith and credit clause of the U.S. government? LOL

As the feds keep running up the national debt (now surpassing $20 trillion) and the Federal Reserve bank keep printing more currency how much do you think your dollar is worth? How long do you think we can sustain all that borrowing before it comes crashing down like a house of cards? The purchasing power of the U.S. dollar has depleted over 90% over the past 100 years.

Yep, National debt has made the Monetary system a joke. Thanks to socialist entitlement programs

 

[Toddsterpatriot]

Bitcoin is kind of an asset/hedge/stock as well as currency all mashed in one. It does have practicality.

Practicality? How much is used to buy goods/services?
How practical is a currency that goes up or down 10% a day?
People complain about the dollar going down 2% a year.

Not a lot, a majority of people trade with it, which adds stability. Look at all the past years, it’s been climbing steadily, because a lot people buy low and sell high with it. And the number of people doing that and the money involved has increased. But the amount of traders give me a lot of confidence that’s it’s not going to crash and burn, since once it drops 10% they’re all over it.

But like I said before there’s BTC debit cards and BTC ATMs, and people do use it peer to peer. Overstock accepts it as well. I don’t think places like amazon are going to adopt it in the near future...but maybe they should. Someone buying a 30$ toaster now with BTC, well that 30$ in bitcoin could turn into 50 if they wait a month, with the way things are going. It could come crashing back down, but I don’t think so. Not when Coinbase is adding 100,000 New users a day, and people in China and India are freaking loving it. 32% of millennials preferr trading it over stocks. It’s easy to get into, and you don’t have to make over 50,000$ a year to get into it, like stocks. Friggen sweat shop workers can get into it.

Again, it’s wise to dip your toes in at the very least. Either this is a bubble, and you loose maybe 20% of the money you don’t mind loosing that you put in...or maybe these guys we’ve been calling crazy, who keep getting proven right, are also right that it’s gonna keep going up, and this is the very beginning of a larger parabolic curve. Only 2% of the world is currently using it, and a vast majority have less than 100 usd into it...what happens when it’s 3%? What happens when it start getting traded on Wall Street? What happens when economic crises strikes again?

Not a lot, a majority of people trade with it, which adds stability.

A currency, not being used as a currency, adds stability? What stability?

it’s been climbing steadily, because a lot people buy low and sell high with it

Ummmm.....if you buy low, you bought from someone selling low.
If you sell high, you sold to someone buying high.

Someone buying a 30$ toaster now with BTC, well that 30$ in bitcoin could turn into 50 if they wait a month,

Or the $30 in bitcoin could turn into $15.......

It could come crashing back down, but I don’t think so. Not when Coinbase is adding 100,000 New users a day, and people in China and India are freaking loving it.

Yes, adding more lemmings does extend the scheme.

you don’t have to make over 50,000$ a year to get into it, like stocks.
Friggen sweat shop workers can get into it.

Wasn't there a story about a shoeshine boy giving Joe Kennedy some stock tips?

is is the very beginning of a larger parabolic curve.

And we all know parabolic curves never end......

They don’t end well in stocks, I absolutely agree...but the bears of bitcoin have been calling for it to crash since it hit 2000, and have a been saying the same thing every single “unrealistic” milestone it has hit. Why have they kept getting it wrong? It’s because they are thinking of it like it’s a stock, in the market. A market that has roughly the same amount of investors, divvying up their money among tens of thousands of companies. It’s not that. It’s more like a brand new stock market, that a street chicken vendor in India can get it on, with only 3 or 4 big companies in the market. (Sure there’s a very small minority of people like the shoe shine boy) but that rarely ever happens. It’s much easier now for a the street vendor in india to buy bitcoin, than it is for him to buy shares of Fitbit or whatever. Here’s the kicker only 2% of the world are actually using that. And it keep growing and growing. What happens when it reaches 3% 4% 5%? What happens when Wall Street starts adopting it (CME is getting ready to this month)? Your talking about drawing from a pool that includes basically the entire world outside of the severely impoveished, vs a pool that stays roughly the same size of those investing in stocks.

There’s millions of people who’ve wanted to get into bitcoin who just never got around to it, millions who are on the fence about it. The confidence in it just keeps rising and rising, and more and more will buy it. It’s still early in the first inning.

I’m sure you or many people who don’t play the lottery will buy a ticket when the jackpot is huge. Just because, what the hell, it’s only 5 bucks. This has better odds than the lottery, and if it doesn’t work out, the chances of you loosing all of your money are astronically low. So what it you only get 3 of your 5 bucks back?

It’s like I’m telling you guys you could buy shares for cheap for what could turn out to be the next google or Facebook. Maybe it won’t be, sure, but I think it’s worth the risk. A small risk I might add, again I’m not saying pour your savings into it. Dip your toe in. Or not, and I’ll keep posting like a gitty teenage girl when it keeps going up. Or you could be right, and I already made my money back, so I’m at least nuetral. That happened in about a month and a half, and I thought I bought in late at the time.

but the bears of bitcoin have been calling for it to crash since it hit 2000, and have a been saying the same thing every single “unrealistic” milestone it has hit. Why have they kept getting it wrong?

Chinese people trying to get their wealth out of Yuan keep piling into Bitcoin.

It’s because they are thinking of it like it’s a stock, in the market.

I don't think it's a stock. It has no earnings. Pays no dividends. More like a chain letter.

It’s more like a brand new stock market, that a street chicken vendor in India can get it on, with only 3 or 4 big companies in the market.

Yes, when unsophisticated poor people buy into a new fad nothing bad ever happens.

It’s like I’m telling you guys you could buy shares for cheap for what could turn out to be the next google or Facebook.

Exactly!
It could turn out to be Google ($19 billion annual net income) or
Facebook ($10 billion annual net income).

Resorting to strawmen? I think someone’s a little jealous....maybe a little afraid of the unknown?

Never said it was buying into google stock at 19billion, just said it could be LIKE buying into google back when the shares were cheap. Here’s the difference, when another recession comes, it’s gonna be the “safe” stocks that take a hit. Bitcoin could get a big boost. It did after Crete, it did after Greece. It’ll probably happen after the Venezuela tire fire finally collapses, you got Argentina pretty much right behind it. We’re due for another correction (I should just say correction since we fought off the one we should’ve let happen in 2008). If that happens, not only are we in bad shape, but so is Europe and China, so that’ll send ripples through their markets, and may even collapse the weaker markets of Europe, Italy, Spain, Greece. Greece who was playing around with the idea of switching over to crypto during their last crises.

Not saying BTC is a sure thing. I’m loving the trend though, loving that naysayers keep eating crow, love that I’m making money.

Again the reaction from a lot of people here is a little over the top. It’s kind of amusing. Again not saying dump your saving. Just play with it. 10 20 50 whatever. Blockchain is the future, for many things, not just in crypto currency either, probably time to familiarize yourself with it. Maybe bitcoin isn’t the future, but I’m thinking it’s gonna go for a pretty fun ride. What it had done so far is nothing short of incredible. And it’s not slowing.

Resorting to strawmen?

Where?

Never said it was buying into google stock at 19billion,

Not at $19 billion. You said it could be the next Google. Google which made $19 billion last year.
What will Bitcoin's earnings be this year? Next year?

Here’s the difference, when another recession comes, it’s gonna be the “safe” stocks that take a hit.

Why?

Bitcoin could get a big boost.

Or people will sell Bitcoin to meet margin calls or buy more stock on sale........

Not saying BTC is a sure thing. I’m loving the trend though, loving that naysayers keep eating crow,

Yup....Enron naysayers ate crow, until they didn't.

love that I’m making money.

Good on ya! Plenty of people make money if they sell before the music stops.

 

[AvgGuyIA]

Yup, it just cleared what was the laughable prediction of 10,000 USD by 2018. I originally bought half a coin a few years ago, sold before a trip to Vegas, with the intentions of buying back in...but stupidly did not. Got lazy since my exchange updated their security and wanted my drivers license and I thought it was too much of a hassle, and I forgot about it....that half a coin (I bought 150 worth) would be worth over 5,000 now. Bought back in a couple months ago (again later than I was meaning too, since I wanted to buy back in early in the summer, but never got around to it). Anyway in about a month I’ve made an 80% return on investment....I DONT THINK ITS GOING TO STOP.

These guys say it’ll go up to a million by 2020...and it sounds crazy, even to me but there are a few factors that are going to contribute to the continual rise. Even if it’s half or even a quarter of that...that’s still phenomenally outstanding.

As of now only 2% of the world use bitcoin, but all it takes to buy it is a smartphone...which’s everyone has nowadays, even in third world countries with how cheap androids are. Coinbase (a BTC exchange) is adding 100,000 new users a day. If you think of it like a stock, there’s really only a small group that stays roughly the same size buying into the stock market. And in that market they’re splitting that money into thousands of thousands of different companies. A very large majority of people in India, China, Europe, etc, and even here in the western world aren’t buying into the stock market...but they are starting to buy into bitcoin, because it’s easy, and un-hackable, they’re making money, and have 100% control of that money vs a bank. Now the more people who buy into, the more it keeps rising and rising. If the user-ship jumps up to a measly 4%....that alone will double the price. Like those guys said, this is just the first inning.

Secondly, bitcoin is forcing Wall Street to take a look, and they are all scrambling to figure out a way to start trading it on their exchanges. The CME is saying it will be exchanging it by the 2nd week in December! That’s gonna be a HUGE jump. As of now a very small percentage of BTC holders own over 100 USD worth in BTC. Not only will opening up BTC to Wall Street add even more users, it will add a lot more big players, as well as lend more validity to it.

Thirdly, economic crisis. People run to things like precious metals during economic crisis. But how many people have the know how and the funds to buy precious metals? Bitcoin is much easier and offers you full control of your money. Don’t get me wrong it’s very wise to own precious metals, but bitcoin could explode. There are plenty of countries on the verge of collapse, like Venezuela, Argentina, and once the happens, a good amount of people in that country will run to bitcoin. There’s even speculation that these countries might even just switch their currency over into cryptocurrency. On top of that, we’re due for at least an economic correction, and could very well be looking at economic crisis. Europe and China are in worse shape than us, and if we falter, that’s going to be a global crisis. On top of that, what’s gonna further drive people to bitcoin is the fact that all of our banks are ready to do a bail in (banks just take a percentage from everyone, 5% haircut across the board). Plenty of people are gonna day fuck that, I’m moving to bitcoin. Also these same banks are talking about doing negative interest rates on savings accounts, forcing people to spend instead of save. Again people will say fuck that, I’m gonna put my savings in bitcoin.

What makes me worry about bitcoin? Well governments could try to crack down on it. I don’t think they can fully eliminate it with their citizens, but they could make it difficult to use and exchange. On top of that the energy consumption of miners. They are using a lot of energy. But the beautiful thing about bitcoin is that it can fork, and change it’s form to something more workable, in a free market setting. It forks, people who have owns BTC before the fork own the same amount of the new fork, as well as classic BTC, then the two compete to see what’s better. I could see a fork into something using less power coming in few years. Or having cell phones, tablets, etc, join into the mining to take the load off computing, Or alternative energy sources to take the load off of energy.

If it does hit a million by 2020...I’m looking at 500,000 Dollars. I’d be perfectly happy if it only goes to 50,000 by 2020. That’s still a great freaking investment. I’m thinking about just putting in like 50 bucks every paycheck in, using it as a savings account on steroids. Anyway, buy in now. Put in money your willing to loose (I doubt you’ll ever loose it all, or even a portion), and just watch it go.

. If Bitcoin is so great, why does it take US$ to buy it?

 

[Fueri]

Why are people here acting like I’m telling them to dump their entire savings into it. No, I’m only using money that I’m comfortable with loosing, and I’ve already made that money back and have pocketed it. I’m encouraging people to dip their toes in because this could be HUGE. It may crash and I fully aknowledge that. And I even listed my worries in my OP. But when the bulls (usually made up of people who actually understand bitcoin) were calling for 10,000 by the end of this, they were laughed at. I think it could close at 13 even 14 thousand by the end of the year. Even if it only goes up to 50,000 by 2020 (which is like a 10th of a 10th of what bulls think it could actually go up to) that’s still freaking incredible. And that’s only 2 years away now.

No one here would have this much of a problem if I told them to dip their toes into stock of such and such new company because it could go big. I get it’s an fairly new concept and an unknown, but the world is changing fast. And bitcoin may not be the currency of the future, but I think Blockchain tech will. And dipping you toes in now is wise. Even if Bitcoin crashes by 50%, ITS STILL UP LIKE 500% FOR THE YEAR. Be careful do your research.

Get used to it. It like trying to explain to monkeys what a particle accelerator is. They don't have a clue and just end end throwing their own shit at you.

Also get used to not giving a single fuck. I've been telling people about blockchain for years. Very, very few listen and don't resort to to ridiculing something they don't understand. Their loss. Blockchain tech will change our world, with little, if any, doubt what-so-fucking-ever at this point.

 

[Manonthestreet]

Do you really think when cashless arrives they will leave you an option they don't control?

Bitcoin certainly has a better chance to evade than the USD. I also think people will loose their shit when it’s the banks trying this BS vs the government. Banks are already pretty well hated by both sides. There’s gonna be a good amount of outrage that’s going to at least make the g-men think twice.

Again why are people acting like I’m telling them to dump their savings into it. Fuck no. I have my worries too. But I believe in it in principle, and I’m betting some money I don’t mind loosing, because I think it completely crashing isn’t gonna happen. I could see a partial crash, but it’s going to stabilze since a ton of people just trade it, buy low sell high with it. It’s been around for 8 years, and has been steadily climbing. Now it’s taking off BC it’s getting popular in China and India. But I also think it’s gonna keep climbing, and I think it’s perfectly reasonable that it’ll reach 50,000 by 2020.

If I was saying hey, buy some shares into this new tech company because it could explode...Nobody would have this much of a problem with me saying that. People are acting like I’m telling them offer their children to Satan hahaha. The reaction is just wild, I feel like I’m smelling a hint of jealousy?

It’s at the very least wise to dip your toes in. That’s all I’m saying. Like in poker, even if you have a crappy hand, but the pot is high, and the buy in is low...you make that bet every time and see what your cards do. Even if you only win it 9 out of 10 times, that’s still a profitable bet.

Try addressing whats written.....who said anything about putting everything into it......doesnt have to crash for Feds to step in and shut it down...for the public good of course

 

[sakinago]

Not a lot, a majority of people trade with it, which adds stability. Look at all the past years, it’s been climbing steadily, because a lot people buy low and sell high with it. And the number of people doing that and the money involved has increased. But the amount of traders give me a lot of confidence that’s it’s not going to crash and burn, since once it drops 10% they’re all over it.

But like I said before there’s BTC debit cards and BTC ATMs, and people do use it peer to peer. Overstock accepts it as well. I don’t think places like amazon are going to adopt it in the near future...but maybe they should. Someone buying a 30$ toaster now with BTC, well that 30$ in bitcoin could turn into 50 if they wait a month, with the way things are going. It could come crashing back down, but I don’t think so. Not when Coinbase is adding 100,000 New users a day, and people in China and India are freaking loving it. 32% of millennials preferr trading it over stocks. It’s easy to get into, and you don’t have to make over 50,000$ a year to get into it, like stocks. Friggen sweat shop workers can get into it.

Again, it’s wise to dip your toes in at the very least. Either this is a bubble, and you loose maybe 20% of the money you don’t mind loosing that you put in...or maybe these guys we’ve been calling crazy, who keep getting proven right, are also right that it’s gonna keep going up, and this is the very beginning of a larger parabolic curve. Only 2% of the world is currently using it, and a vast majority have less than 100 usd into it...what happens when it’s 3%? What happens when it start getting traded on Wall Street? What happens when economic crises strikes again?

Not a lot, a majority of people trade with it, which adds stability.

A currency, not being used as a currency, adds stability? What stability?

it’s been climbing steadily, because a lot people buy low and sell high with it

Ummmm.....if you buy low, you bought from someone selling low.
If you sell high, you sold to someone buying high.

Someone buying a 30$ toaster now with BTC, well that 30$ in bitcoin could turn into 50 if they wait a month,

Or the $30 in bitcoin could turn into $15.......

It could come crashing back down, but I don’t think so. Not when Coinbase is adding 100,000 New users a day, and people in China and India are freaking loving it.

Yes, adding more lemmings does extend the scheme.

you don’t have to make over 50,000$ a year to get into it, like stocks.
Friggen sweat shop workers can get into it.

Wasn't there a story about a shoeshine boy giving Joe Kennedy some stock tips?

is is the very beginning of a larger parabolic curve.

And we all know parabolic curves never end......

They don’t end well in stocks, I absolutely agree...but the bears of bitcoin have been calling for it to crash since it hit 2000, and have a been saying the same thing every single “unrealistic” milestone it has hit. Why have they kept getting it wrong? It’s because they are thinking of it like it’s a stock, in the market. A market that has roughly the same amount of investors, divvying up their money among tens of thousands of companies. It’s not that. It’s more like a brand new stock market, that a street chicken vendor in India can get it on, with only 3 or 4 big companies in the market. (Sure there’s a very small minority of people like the shoe shine boy) but that rarely ever happens. It’s much easier now for a the street vendor in india to buy bitcoin, than it is for him to buy shares of Fitbit or whatever. Here’s the kicker only 2% of the world are actually using that. And it keep growing and growing. What happens when it reaches 3% 4% 5%? What happens when Wall Street starts adopting it (CME is getting ready to this month)? Your talking about drawing from a pool that includes basically the entire world outside of the severely impoveished, vs a pool that stays roughly the same size of those investing in stocks.

There’s millions of people who’ve wanted to get into bitcoin who just never got around to it, millions who are on the fence about it. The confidence in it just keeps rising and rising, and more and more will buy it. It’s still early in the first inning.

I’m sure you or many people who don’t play the lottery will buy a ticket when the jackpot is huge. Just because, what the hell, it’s only 5 bucks. This has better odds than the lottery, and if it doesn’t work out, the chances of you loosing all of your money are astronically low. So what it you only get 3 of your 5 bucks back?

It’s like I’m telling you guys you could buy shares for cheap for what could turn out to be the next google or Facebook. Maybe it won’t be, sure, but I think it’s worth the risk. A small risk I might add, again I’m not saying pour your savings into it. Dip your toe in. Or not, and I’ll keep posting like a gitty teenage girl when it keeps going up. Or you could be right, and I already made my money back, so I’m at least nuetral. That happened in about a month and a half, and I thought I bought in late at the time.

but the bears of bitcoin have been calling for it to crash since it hit 2000, and have a been saying the same thing every single “unrealistic” milestone it has hit. Why have they kept getting it wrong?

Chinese people trying to get their wealth out of Yuan keep piling into Bitcoin.

It’s because they are thinking of it like it’s a stock, in the market.

I don't think it's a stock. It has no earnings. Pays no dividends. More like a chain letter.

It’s more like a brand new stock market, that a street chicken vendor in India can get it on, with only 3 or 4 big companies in the market.

Yes, when unsophisticated poor people buy into a new fad nothing bad ever happens.

It’s like I’m telling you guys you could buy shares for cheap for what could turn out to be the next google or Facebook.

Exactly!
It could turn out to be Google ($19 billion annual net income) or
Facebook ($10 billion annual net income).

Resorting to strawmen? I think someone’s a little jealous....maybe a little afraid of the unknown?

Never said it was buying into google stock at 19billion, just said it could be LIKE buying into google back when the shares were cheap. Here’s the difference, when another recession comes, it’s gonna be the “safe” stocks that take a hit. Bitcoin could get a big boost. It did after Crete, it did after Greece. It’ll probably happen after the Venezuela tire fire finally collapses, you got Argentina pretty much right behind it. We’re due for another correction (I should just say correction since we fought off the one we should’ve let happen in 2008). If that happens, not only are we in bad shape, but so is Europe and China, so that’ll send ripples through their markets, and may even collapse the weaker markets of Europe, Italy, Spain, Greece. Greece who was playing around with the idea of switching over to crypto during their last crises.

Not saying BTC is a sure thing. I’m loving the trend though, loving that naysayers keep eating crow, love that I’m making money.

Again the reaction from a lot of people here is a little over the top. It’s kind of amusing. Again not saying dump your saving. Just play with it. 10 20 50 whatever. Blockchain is the future, for many things, not just in crypto currency either, probably time to familiarize yourself with it. Maybe bitcoin isn’t the future, but I’m thinking it’s gonna go for a pretty fun ride. What it had done so far is nothing short of incredible. And it’s not slowing.

Resorting to strawmen?

Where?

Never said it was buying into google stock at 19billion,

Not at $19 billion. You said it could be the next Google. Google which made $19 billion last year.
What will Bitcoin's earnings be this year? Next year?

Here’s the difference, when another recession comes, it’s gonna be the “safe” stocks that take a hit.

Why?

Bitcoin could get a big boost.

Or people will sell Bitcoin to meet margin calls or buy more stock on sale........

Not saying BTC is a sure thing. I’m loving the trend though, loving that naysayers keep eating crow,

Yup....Enron naysayers ate crow, until they didn't.

love that I’m making money.

Good on ya! Plenty of people make money if they sell before the music stops.

We both know it’s not a company like google, that’s where the straw man is. It is however up %1400 on the year vs googles 30%. Even if it drops down to 1000, it’s still up 40% on the year. I highly doubt that will happen because too many people trade with it, more are starting to, and when it drops, people start buying it back up.

 

[sakinago]

Why are people here acting like I’m telling them to dump their entire savings into it. No, I’m only using money that I’m comfortable with loosing, and I’ve already made that money back and have pocketed it. I’m encouraging people to dip their toes in because this could be HUGE. It may crash and I fully aknowledge that. And I even listed my worries in my OP. But when the bulls (usually made up of people who actually understand bitcoin) were calling for 10,000 by the end of this, they were laughed at. I think it could close at 13 even 14 thousand by the end of the year. Even if it only goes up to 50,000 by 2020 (which is like a 10th of a 10th of what bulls think it could actually go up to) that’s still freaking incredible. And that’s only 2 years away now.

No one here would have this much of a problem if I told them to dip their toes into stock of such and such new company because it could go big. I get it’s an fairly new concept and an unknown, but the world is changing fast. And bitcoin may not be the currency of the future, but I think Blockchain tech will. And dipping you toes in now is wise. Even if Bitcoin crashes by 50%, ITS STILL UP LIKE 500% FOR THE YEAR. Be careful do your research.

Get used to it. It like trying to explain to monkeys what a particle accelerator is. They don't have a clue and just end end throwing their own shit at you.

Also get used to not giving a single fuck. I've been telling people about blockchain for years. Very, very few listen and don't resort to to ridiculing something they don't understand. Their loss. Blockchain tech will change our world, with little, if any, doubt what-so-fucking-ever at this point.

Even if bitcoin isn’t the future, Blockchain definitely is, and has applications for many things outside of crypto.

 

[Toddsterpatriot]

Not a lot, a majority of people trade with it, which adds stability.

A currency, not being used as a currency, adds stability? What stability?

it’s been climbing steadily, because a lot people buy low and sell high with it

Ummmm.....if you buy low, you bought from someone selling low.
If you sell high, you sold to someone buying high.

Someone buying a 30$ toaster now with BTC, well that 30$ in bitcoin could turn into 50 if they wait a month,

Or the $30 in bitcoin could turn into $15.......

It could come crashing back down, but I don’t think so. Not when Coinbase is adding 100,000 New users a day, and people in China and India are freaking loving it.

Yes, adding more lemmings does extend the scheme.

you don’t have to make over 50,000$ a year to get into it, like stocks.
Friggen sweat shop workers can get into it.

Wasn't there a story about a shoeshine boy giving Joe Kennedy some stock tips?

is is the very beginning of a larger parabolic curve.

And we all know parabolic curves never end......

They don’t end well in stocks, I absolutely agree...but the bears of bitcoin have been calling for it to crash since it hit 2000, and have a been saying the same thing every single “unrealistic” milestone it has hit. Why have they kept getting it wrong? It’s because they are thinking of it like it’s a stock, in the market. A market that has roughly the same amount of investors, divvying up their money among tens of thousands of companies. It’s not that. It’s more like a brand new stock market, that a street chicken vendor in India can get it on, with only 3 or 4 big companies in the market. (Sure there’s a very small minority of people like the shoe shine boy) but that rarely ever happens. It’s much easier now for a the street vendor in india to buy bitcoin, than it is for him to buy shares of Fitbit or whatever. Here’s the kicker only 2% of the world are actually using that. And it keep growing and growing. What happens when it reaches 3% 4% 5%? What happens when Wall Street starts adopting it (CME is getting ready to this month)? Your talking about drawing from a pool that includes basically the entire world outside of the severely impoveished, vs a pool that stays roughly the same size of those investing in stocks.

There’s millions of people who’ve wanted to get into bitcoin who just never got around to it, millions who are on the fence about it. The confidence in it just keeps rising and rising, and more and more will buy it. It’s still early in the first inning.

I’m sure you or many people who don’t play the lottery will buy a ticket when the jackpot is huge. Just because, what the hell, it’s only 5 bucks. This has better odds than the lottery, and if it doesn’t work out, the chances of you loosing all of your money are astronically low. So what it you only get 3 of your 5 bucks back?

It’s like I’m telling you guys you could buy shares for cheap for what could turn out to be the next google or Facebook. Maybe it won’t be, sure, but I think it’s worth the risk. A small risk I might add, again I’m not saying pour your savings into it. Dip your toe in. Or not, and I’ll keep posting like a gitty teenage girl when it keeps going up. Or you could be right, and I already made my money back, so I’m at least nuetral. That happened in about a month and a half, and I thought I bought in late at the time.

but the bears of bitcoin have been calling for it to crash since it hit 2000, and have a been saying the same thing every single “unrealistic” milestone it has hit. Why have they kept getting it wrong?

Chinese people trying to get their wealth out of Yuan keep piling into Bitcoin.

It’s because they are thinking of it like it’s a stock, in the market.

I don't think it's a stock. It has no earnings. Pays no dividends. More like a chain letter.

It’s more like a brand new stock market, that a street chicken vendor in India can get it on, with only 3 or 4 big companies in the market.

Yes, when unsophisticated poor people buy into a new fad nothing bad ever happens.

It’s like I’m telling you guys you could buy shares for cheap for what could turn out to be the next google or Facebook.

Exactly!
It could turn out to be Google ($19 billion annual net income) or
Facebook ($10 billion annual net income).

Resorting to strawmen? I think someone’s a little jealous....maybe a little afraid of the unknown?

Never said it was buying into google stock at 19billion, just said it could be LIKE buying into google back when the shares were cheap. Here’s the difference, when another recession comes, it’s gonna be the “safe” stocks that take a hit. Bitcoin could get a big boost. It did after Crete, it did after Greece. It’ll probably happen after the Venezuela tire fire finally collapses, you got Argentina pretty much right behind it. We’re due for another correction (I should just say correction since we fought off the one we should’ve let happen in 2008). If that happens, not only are we in bad shape, but so is Europe and China, so that’ll send ripples through their markets, and may even collapse the weaker markets of Europe, Italy, Spain, Greece. Greece who was playing around with the idea of switching over to crypto during their last crises.

Not saying BTC is a sure thing. I’m loving the trend though, loving that naysayers keep eating crow, love that I’m making money.

Again the reaction from a lot of people here is a little over the top. It’s kind of amusing. Again not saying dump your saving. Just play with it. 10 20 50 whatever. Blockchain is the future, for many things, not just in crypto currency either, probably time to familiarize yourself with it. Maybe bitcoin isn’t the future, but I’m thinking it’s gonna go for a pretty fun ride. What it had done so far is nothing short of incredible. And it’s not slowing.

Resorting to strawmen?

Where?

Never said it was buying into google stock at 19billion,

Not at $19 billion. You said it could be the next Google. Google which made $19 billion last year.
What will Bitcoin's earnings be this year? Next year?

Here’s the difference, when another recession comes, it’s gonna be the “safe” stocks that take a hit.

Why?

Bitcoin could get a big boost.

Or people will sell Bitcoin to meet margin calls or buy more stock on sale........

Not saying BTC is a sure thing. I’m loving the trend though, loving that naysayers keep eating crow,

Yup....Enron naysayers ate crow, until they didn't.

love that I’m making money.

Good on ya! Plenty of people make money if they sell before the music stops.

We both know it’s not a company like google, that’s where the straw man is. It is however up %1400 on the year vs googles 30%. Even if it drops down to 1000, it’s still up 40% on the year. I highly doubt that will happen because too many people trade with it, more are starting to, and when it drops, people start buying it back up.

We both know it’s not a company like google,

Exactly. Which is why you saying it "could turn out to be the next google or Facebook" was so stupid.

that’s where the straw man is.

Pointing out the stupidity of your comparison wasn't a straw man. But thanks anyway.

 

[sakinago]

Do you really think when cashless arrives they will leave you an option they don't control?

Bitcoin certainly has a better chance to evade than the USD. I also think people will loose their shit when it’s the banks trying this BS vs the government. Banks are already pretty well hated by both sides. There’s gonna be a good amount of outrage that’s going to at least make the g-men think twice.

Again why are people acting like I’m telling them to dump their savings into it. Fuck no. I have my worries too. But I believe in it in principle, and I’m betting some money I don’t mind loosing, because I think it completely crashing isn’t gonna happen. I could see a partial crash, but it’s going to stabilze since a ton of people just trade it, buy low sell high with it. It’s been around for 8 years, and has been steadily climbing. Now it’s taking off BC it’s getting popular in China and India. But I also think it’s gonna keep climbing, and I think it’s perfectly reasonable that it’ll reach 50,000 by 2020.

If I was saying hey, buy some shares into this new tech company because it could explode...Nobody would have this much of a problem with me saying that. People are acting like I’m telling them offer their children to Satan hahaha. The reaction is just wild, I feel like I’m smelling a hint of jealousy?

It’s at the very least wise to dip your toes in. That’s all I’m saying. Like in poker, even if you have a crappy hand, but the pot is high, and the buy in is low...you make that bet every time and see what your cards do. Even if you only win it 9 out of 10 times, that’s still a profitable bet.

Try addressing whats written.....who said anything about putting everything into it......doesnt have to crash for Feds to step in and shut it down...for the public good of course

I did address it. And I said that people here are having reactions like this is completely overkill...even the alternative the USD, will definitely be under bank/govt control, vs crypto that has a much better chance to evade than the USD that’s already being corralled. It wouldn’t surprise if they tried to reign in, restrict, or ban bitcoin. But they’re gonna have to deal with a lot pissed off people.

It’s like people are acting like I’m telling them to offer their children to satan. As if bitcoin is the worse thing in world.

 

[Manonthestreet]

Why are people here acting like I’m telling them to dump their entire savings into it. No, I’m only using money that I’m comfortable with loosing, and I’ve already made that money back and have pocketed it. I’m encouraging people to dip their toes in because this could be HUGE. It may crash and I fully aknowledge that. And I even listed my worries in my OP. But when the bulls (usually made up of people who actually understand bitcoin) were calling for 10,000 by the end of this, they were laughed at. I think it could close at 13 even 14 thousand by the end of the year. Even if it only goes up to 50,000 by 2020 (which is like a 10th of a 10th of what bulls think it could actually go up to) that’s still freaking incredible. And that’s only 2 years away now.

No one here would have this much of a problem if I told them to dip their toes into stock of such and such new company because it could go big. I get it’s an fairly new concept and an unknown, but the world is changing fast. And bitcoin may not be the currency of the future, but I think Blockchain tech will. And dipping you toes in now is wise. Even if Bitcoin crashes by 50%, ITS STILL UP LIKE 500% FOR THE YEAR. Be careful do your research.

Get used to it. It like trying to explain to monkeys what a particle accelerator is. They don't have a clue and just end end throwing their own shit at you.

Also get used to not giving a single fuck. I've been telling people about blockchain for years. Very, very few listen and don't resort to to ridiculing something they don't understand. Their loss. Blockchain tech will change our world, with little, if any, doubt what-so-fucking ever at this point.

Do you really think when cashless arrives they will leave you an option they don't control?

Bitcoin certainly has a better chance to evade than the USD. I also think people will loose their shit when it’s the banks trying this BS vs the government. Banks are already pretty well hated by both sides. There’s gonna be a good amount of outrage that’s going to at least make the g-men think twice.

Again why are people acting like I’m telling them to dump their savings into it. Fuck no. I have my worries too. But I believe in it in principle, and I’m betting some money I don’t mind loosing, because I think it completely crashing isn’t gonna happen. I could see a partial crash, but it’s going to stabilze since a ton of people just trade it, buy low sell high with it. It’s been around for 8 years, and has been steadily climbing. Now it’s taking off BC it’s getting popular in China and India. But I also think it’s gonna keep climbing, and I think it’s perfectly reasonable that it’ll reach 50,000 by 2020.

If I was saying hey, buy some shares into this new tech company because it could explode...Nobody would have this much of a problem with me saying that. People are acting like I’m telling them offer their children to Satan hahaha. The reaction is just wild, I feel like I’m smelling a hint of jealousy?

It’s at the very least wise to dip your toes in. That’s all I’m saying. Like in poker, even if you have a crappy hand, but the pot is high, and the buy in is low...you make that bet every time and see what your cards do. Even if you only win it 9 out of 10 times, that’s still a profitable bet.

Try addressing whats written.....who said anything about putting everything into it......doesnt have to crash for Feds to step in and shut it down...for the public good of course

I did address it. And I said that people here are having reactions like this is completely overkill...even the alternative the USD, will definitely be under bank/govt control, vs crypto that has a much better chance to evade than the USD that’s already being corralled. It wouldn’t surprise if they tried to reign in, restrict, or ban bitcoin. But they’re gonna have to deal with a lot pissed off people.

It’s like people are acting like I’m telling them to offer their children to satan. As if bitcoin is the worse thing in world.

Wasnt my reaction was it they dont care if they piss people off...what ya gonna do.....they'll claim it facilitates crime...same excuse they want to use to get rid of cash....then you can have the Federal reserve blockchain.....

 

[Asclepias]

Since bitcoin is backed by less than Enron it will suffer the same end. Fiat money is Fiat money no matter the name.

You do realize the dollar is fiat money too right?

 

[sakinago]

They don’t end well in stocks, I absolutely agree...but the bears of bitcoin have been calling for it to crash since it hit 2000, and have a been saying the same thing every single “unrealistic” milestone it has hit. Why have they kept getting it wrong? It’s because they are thinking of it like it’s a stock, in the market. A market that has roughly the same amount of investors, divvying up their money among tens of thousands of companies. It’s not that. It’s more like a brand new stock market, that a street chicken vendor in India can get it on, with only 3 or 4 big companies in the market. (Sure there’s a very small minority of people like the shoe shine boy) but that rarely ever happens. It’s much easier now for a the street vendor in india to buy bitcoin, than it is for him to buy shares of Fitbit or whatever. Here’s the kicker only 2% of the world are actually using that. And it keep growing and growing. What happens when it reaches 3% 4% 5%? What happens when Wall Street starts adopting it (CME is getting ready to this month)? Your talking about drawing from a pool that includes basically the entire world outside of the severely impoveished, vs a pool that stays roughly the same size of those investing in stocks.

There’s millions of people who’ve wanted to get into bitcoin who just never got around to it, millions who are on the fence about it. The confidence in it just keeps rising and rising, and more and more will buy it. It’s still early in the first inning.

I’m sure you or many people who don’t play the lottery will buy a ticket when the jackpot is huge. Just because, what the hell, it’s only 5 bucks. This has better odds than the lottery, and if it doesn’t work out, the chances of you loosing all of your money are astronically low. So what it you only get 3 of your 5 bucks back?

It’s like I’m telling you guys you could buy shares for cheap for what could turn out to be the next google or Facebook. Maybe it won’t be, sure, but I think it’s worth the risk. A small risk I might add, again I’m not saying pour your savings into it. Dip your toe in. Or not, and I’ll keep posting like a gitty teenage girl when it keeps going up. Or you could be right, and I already made my money back, so I’m at least nuetral. That happened in about a month and a half, and I thought I bought in late at the time.

but the bears of bitcoin have been calling for it to crash since it hit 2000, and have a been saying the same thing every single “unrealistic” milestone it has hit. Why have they kept getting it wrong?

Chinese people trying to get their wealth out of Yuan keep piling into Bitcoin.

It’s because they are thinking of it like it’s a stock, in the market.

I don't think it's a stock. It has no earnings. Pays no dividends. More like a chain letter.

It’s more like a brand new stock market, that a street chicken vendor in India can get it on, with only 3 or 4 big companies in the market.

Yes, when unsophisticated poor people buy into a new fad nothing bad ever happens.

It’s like I’m telling you guys you could buy shares for cheap for what could turn out to be the next google or Facebook.

Exactly!
It could turn out to be Google ($19 billion annual net income) or
Facebook ($10 billion annual net income).

Resorting to strawmen? I think someone’s a little jealous....maybe a little afraid of the unknown?

Never said it was buying into google stock at 19billion, just said it could be LIKE buying into google back when the shares were cheap. Here’s the difference, when another recession comes, it’s gonna be the “safe” stocks that take a hit. Bitcoin could get a big boost. It did after Crete, it did after Greece. It’ll probably happen after the Venezuela tire fire finally collapses, you got Argentina pretty much right behind it. We’re due for another correction (I should just say correction since we fought off the one we should’ve let happen in 2008). If that happens, not only are we in bad shape, but so is Europe and China, so that’ll send ripples through their markets, and may even collapse the weaker markets of Europe, Italy, Spain, Greece. Greece who was playing around with the idea of switching over to crypto during their last crises.

Not saying BTC is a sure thing. I’m loving the trend though, loving that naysayers keep eating crow, love that I’m making money.

Again the reaction from a lot of people here is a little over the top. It’s kind of amusing. Again not saying dump your saving. Just play with it. 10 20 50 whatever. Blockchain is the future, for many things, not just in crypto currency either, probably time to familiarize yourself with it. Maybe bitcoin isn’t the future, but I’m thinking it’s gonna go for a pretty fun ride. What it had done so far is nothing short of incredible. And it’s not slowing.

Resorting to strawmen?

Where?

Never said it was buying into google stock at 19billion,

Not at $19 billion. You said it could be the next Google. Google which made $19 billion last year.
What will Bitcoin's earnings be this year? Next year?

Here’s the difference, when another recession comes, it’s gonna be the “safe” stocks that take a hit.

Why?

Bitcoin could get a big boost.

Or people will sell Bitcoin to meet margin calls or buy more stock on sale........

Not saying BTC is a sure thing. I’m loving the trend though, loving that naysayers keep eating crow,

Yup....Enron naysayers ate crow, until they didn't.

love that I’m making money.

Good on ya! Plenty of people make money if they sell before the music stops.

We both know it’s not a company like google, that’s where the straw man is. It is however up %1400 on the year vs googles 30%. Even if it drops down to 1000, it’s still up 40% on the year. I highly doubt that will happen because too many people trade with it, more are starting to, and when it drops, people start buying it back up.

We both know it’s not a company like google,

Exactly. Which is why you saying it "could turn out to be the next google or Facebook" was so stupid.

that’s where the straw man is.

Pointing out the stupidity of your comparison wasn't a straw man. But thanks anyway.

Nope, your just nitpicking here. If bitcoin reaches 1 million by the end of 2020, wouldn’t that be sort of like buying into google back in 2001? Not that hard of a concept to understand, we both know it’s not a company, but it can be treated like an asset. An asset that could drop and still be up 40% on the year.

If you don’t think so, or don’t even think it’ll get to 50,000, or you think it’ll just drop like a brick...don’t buy, it’s that simple. But Blockchain is the future, so youre gonna have to deal with it sooner or later.

 

[Asclepias]

Block chain technology is the shit. Its the wave of the future. My people are telling me that most businesses will be based off this technology. I got in last year with Bitcoin and I am really happy. Very tempting to cash out but I'm in it for the long haul. My dreams of 15% look kind of silly now. its way better than that.

 

[sakinago]

Why are people here acting like I’m telling them to dump their entire savings into it. No, I’m only using money that I’m comfortable with loosing, and I’ve already made that money back and have pocketed it. I’m encouraging people to dip their toes in because this could be HUGE. It may crash and I fully aknowledge that. And I even listed my worries in my OP. But when the bulls (usually made up of people who actually understand bitcoin) were calling for 10,000 by the end of this, they were laughed at. I think it could close at 13 even 14 thousand by the end of the year. Even if it only goes up to 50,000 by 2020 (which is like a 10th of a 10th of what bulls think it could actually go up to) that’s still freaking incredible. And that’s only 2 years away now.

No one here would have this much of a problem if I told them to dip their toes into stock of such and such new company because it could go big. I get it’s an fairly new concept and an unknown, but the world is changing fast. And bitcoin may not be the currency of the future, but I think Blockchain tech will. And dipping you toes in now is wise. Even if Bitcoin crashes by 50%, ITS STILL UP LIKE 500% FOR THE YEAR. Be careful do your research.

Get used to it. It like trying to explain to monkeys what a particle accelerator is. They don't have a clue and just end end throwing their own shit at you.

Also get used to not giving a single fuck. I've been telling people about blockchain for years. Very, very few listen and don't resort to to ridiculing something they don't understand. Their loss. Blockchain tech will change our world, with little, if any, doubt what-so-fucking ever at this point.

Do you really think when cashless arrives they will leave you an option they don't control?

Bitcoin certainly has a better chance to evade than the USD. I also think people will loose their shit when it’s the banks trying this BS vs the government. Banks are already pretty well hated by both sides. There’s gonna be a good amount of outrage that’s going to at least make the g-men think twice.

Again why are people acting like I’m telling them to dump their savings into it. Fuck no. I have my worries too. But I believe in it in principle, and I’m betting some money I don’t mind loosing, because I think it completely crashing isn’t gonna happen. I could see a partial crash, but it’s going to stabilze since a ton of people just trade it, buy low sell high with it. It’s been around for 8 years, and has been steadily climbing. Now it’s taking off BC it’s getting popular in China and India. But I also think it’s gonna keep climbing, and I think it’s perfectly reasonable that it’ll reach 50,000 by 2020.

If I was saying hey, buy some shares into this new tech company because it could explode...Nobody would have this much of a problem with me saying that. People are acting like I’m telling them offer their children to Satan hahaha. The reaction is just wild, I feel like I’m smelling a hint of jealousy?

It’s at the very least wise to dip your toes in. That’s all I’m saying. Like in poker, even if you have a crappy hand, but the pot is high, and the buy in is low...you make that bet every time and see what your cards do. Even if you only win it 9 out of 10 times, that’s still a profitable bet.

Try addressing whats written.....who said anything about putting everything into it......doesnt have to crash for Feds to step in and shut it down...for the public good of course

I did address it. And I said that people here are having reactions like this is completely overkill...even the alternative the USD, will definitely be under bank/govt control, vs crypto that has a much better chance to evade than the USD that’s already being corralled. It wouldn’t surprise if they tried to reign in, restrict, or ban bitcoin. But they’re gonna have to deal with a lot pissed off people.

It’s like people are acting like I’m telling them to offer their children to satan. As if bitcoin is the worse thing in world.

Wasnt my reaction was it they dont care if they piss people off...what ya gonna do.....they'll claim it facilitates crime...same excuse they want to use to get rid of cash....then you can have the Federal reserve blockchain.....

I wouldn’t be suprised if they do go after it. I believe I even said as much in my OP. But compared to the USD it’s got a much better shot at not being subject to some type of bail in or negative interest rate.

 

[sakinago]

Block chain technology is the shit. Its the wave of the future. My people are telling me that most businesses will be based off this technology. I got in last year with Bitcoin and I am really happy. Very tempting to cash out but I'm in it for the long haul. My dreams of 15% look kind of silly now. its way better than that.

Preach it.

 

[Manonthestreet]

Why are people here acting like I’m telling them to dump their entire savings into it. No, I’m only using money that I’m comfortable with loosing, and I’ve already made that money back and have pocketed it. I’m encouraging people to dip their toes in because this could be HUGE. It may crash and I fully aknowledge that. And I even listed my worries in my OP. But when the bulls (usually made up of people who actually understand bitcoin) were calling for 10,000 by the end of this, they were laughed at. I think it could close at 13 even 14 thousand by the end of the year. Even if it only goes up to 50,000 by 2020 (which is like a 10th of a 10th of what bulls think it could actually go up to) that’s still freaking incredible. And that’s only 2 years away now.

No one here would have this much of a problem if I told them to dip their toes into stock of such and such new company because it could go big. I get it’s an fairly new concept and an unknown, but the world is changing fast. And bitcoin may not be the currency of the future, but I think Blockchain tech will. And dipping you toes in now is wise. Even if Bitcoin crashes by 50%, ITS STILL UP LIKE 500% FOR THE YEAR. Be careful do your research.

Get used to it. It like trying to explain to monkeys what a particle accelerator is. They don't have a clue and just end end throwing their own shit at you.

Also get used to not giving a single fuck. I've been telling people about blockchain for years. Very, very few listen and don't resort to to ridiculing something they don't understand. Their loss. Blockchain tech will change our world, with little, if any, doubt what-so-fucking ever at this point.

Do you really think when cashless arrives they will leave you an option they don't control?

Bitcoin certainly has a better chance to evade than the USD. I also think people will loose their shit when it’s the banks trying this BS vs the government. Banks are already pretty well hated by both sides. There’s gonna be a good amount of outrage that’s going to at least make the g-men think twice.

Again why are people acting like I’m telling them to dump their savings into it. Fuck no. I have my worries too. But I believe in it in principle, and I’m betting some money I don’t mind loosing, because I think it completely crashing isn’t gonna happen. I could see a partial crash, but it’s going to stabilze since a ton of people just trade it, buy low sell high with it. It’s been around for 8 years, and has been steadily climbing. Now it’s taking off BC it’s getting popular in China and India. But I also think it’s gonna keep climbing, and I think it’s perfectly reasonable that it’ll reach 50,000 by 2020.

If I was saying hey, buy some shares into this new tech company because it could explode...Nobody would have this much of a problem with me saying that. People are acting like I’m telling them offer their children to Satan hahaha. The reaction is just wild, I feel like I’m smelling a hint of jealousy?

It’s at the very least wise to dip your toes in. That’s all I’m saying. Like in poker, even if you have a crappy hand, but the pot is high, and the buy in is low...you make that bet every time and see what your cards do. Even if you only win it 9 out of 10 times, that’s still a profitable bet.

Try addressing whats written.....who said anything about putting everything into it......doesnt have to crash for Feds to step in and shut it down...for the public good of course

I did address it. And I said that people here are having reactions like this is completely overkill...even the alternative the USD, will definitely be under bank/govt control, vs crypto that has a much better chance to evade than the USD that’s already being corralled. It wouldn’t surprise if they tried to reign in, restrict, or ban bitcoin. But they’re gonna have to deal with a lot pissed off people.

It’s like people are acting like I’m telling them to offer their children to satan. As if bitcoin is the worse thing in world.

Wasnt my reaction was it they dont care if they piss people off...what ya gonna do.....they'll claim it facilitates crime...same excuse they want to use to get rid of cash....then you can have the Federal reserve blockchain.....

I wouldn’t be suprised if they do go after it. I believe I even said as much in my OP. But compared to the USD it’s got a much better shot at not being subject to some type of bail in or negative interest rate.

Of course there wont be a bail in ...it will simply be disappeared as a criminal enterprise...much cheaper that way....maybe they will grace you with some scrip as compensation

 

[Toddsterpatriot]

but the bears of bitcoin have been calling for it to crash since it hit 2000, and have a been saying the same thing every single “unrealistic” milestone it has hit. Why have they kept getting it wrong?

Chinese people trying to get their wealth out of Yuan keep piling into Bitcoin.

It’s because they are thinking of it like it’s a stock, in the market.

I don't think it's a stock. It has no earnings. Pays no dividends. More like a chain letter.

It’s more like a brand new stock market, that a street chicken vendor in India can get it on, with only 3 or 4 big companies in the market.

Yes, when unsophisticated poor people buy into a new fad nothing bad ever happens.

It’s like I’m telling you guys you could buy shares for cheap for what could turn out to be the next google or Facebook.

Exactly!
It could turn out to be Google ($19 billion annual net income) or
Facebook ($10 billion annual net income).

Resorting to strawmen? I think someone’s a little jealous....maybe a little afraid of the unknown?

Never said it was buying into google stock at 19billion, just said it could be LIKE buying into google back when the shares were cheap. Here’s the difference, when another recession comes, it’s gonna be the “safe” stocks that take a hit. Bitcoin could get a big boost. It did after Crete, it did after Greece. It’ll probably happen after the Venezuela tire fire finally collapses, you got Argentina pretty much right behind it. We’re due for another correction (I should just say correction since we fought off the one we should’ve let happen in 2008). If that happens, not only are we in bad shape, but so is Europe and China, so that’ll send ripples through their markets, and may even collapse the weaker markets of Europe, Italy, Spain, Greece. Greece who was playing around with the idea of switching over to crypto during their last crises.

Not saying BTC is a sure thing. I’m loving the trend though, loving that naysayers keep eating crow, love that I’m making money.

Again the reaction from a lot of people here is a little over the top. It’s kind of amusing. Again not saying dump your saving. Just play with it. 10 20 50 whatever. Blockchain is the future, for many things, not just in crypto currency either, probably time to familiarize yourself with it. Maybe bitcoin isn’t the future, but I’m thinking it’s gonna go for a pretty fun ride. What it had done so far is nothing short of incredible. And it’s not slowing.

Resorting to strawmen?

Where?

Never said it was buying into google stock at 19billion,

Not at $19 billion. You said it could be the next Google. Google which made $19 billion last year.
What will Bitcoin's earnings be this year? Next year?

Here’s the difference, when another recession comes, it’s gonna be the “safe” stocks that take a hit.

Why?

Bitcoin could get a big boost.

Or people will sell Bitcoin to meet margin calls or buy more stock on sale........

Not saying BTC is a sure thing. I’m loving the trend though, loving that naysayers keep eating crow,

Yup....Enron naysayers ate crow, until they didn't.

love that I’m making money.

Good on ya! Plenty of people make money if they sell before the music stops.

We both know it’s not a company like google, that’s where the straw man is. It is however up %1400 on the year vs googles 30%. Even if it drops down to 1000, it’s still up 40% on the year. I highly doubt that will happen because too many people trade with it, more are starting to, and when it drops, people start buying it back up.

We both know it’s not a company like google,

Exactly. Which is why you saying it "could turn out to be the next google or Facebook" was so stupid.

that’s where the straw man is.

Pointing out the stupidity of your comparison wasn't a straw man. But thanks anyway.

Nope, your just nitpicking here. If bitcoin reaches 1 million by the end of 2020, wouldn’t that be sort of like buying into google back in 2001? Not that hard of a concept to understand, we both know it’s not a company, but it can be treated like an asset. An asset that could drop and still be up 40% on the year.

If you don’t think so, or don’t even think it’ll get to 50,000, or you think it’ll just drop like a brick...don’t buy, it’s that simple. But Blockchain is the future, so youre gonna have to deal with it sooner or later.

Nope, your just nitpicking here. If bitcoin reaches 1 million by the end of 2020, wouldn’t that be sort of like buying into google back in 2001?

No, buying into a chain letter would not be like buying Google.

But Blockchain is the future,

So what?

 

[sakinago]

Resorting to strawmen? I think someone’s a little jealous....maybe a little afraid of the unknown?

Never said it was buying into google stock at 19billion, just said it could be LIKE buying into google back when the shares were cheap. Here’s the difference, when another recession comes, it’s gonna be the “safe” stocks that take a hit. Bitcoin could get a big boost. It did after Crete, it did after Greece. It’ll probably happen after the Venezuela tire fire finally collapses, you got Argentina pretty much right behind it. We’re due for another correction (I should just say correction since we fought off the one we should’ve let happen in 2008). If that happens, not only are we in bad shape, but so is Europe and China, so that’ll send ripples through their markets, and may even collapse the weaker markets of Europe, Italy, Spain, Greece. Greece who was playing around with the idea of switching over to crypto during their last crises.

Not saying BTC is a sure thing. I’m loving the trend though, loving that naysayers keep eating crow, love that I’m making money.

Again the reaction from a lot of people here is a little over the top. It’s kind of amusing. Again not saying dump your saving. Just play with it. 10 20 50 whatever. Blockchain is the future, for many things, not just in crypto currency either, probably time to familiarize yourself with it. Maybe bitcoin isn’t the future, but I’m thinking it’s gonna go for a pretty fun ride. What it had done so far is nothing short of incredible. And it’s not slowing.

Resorting to strawmen?

Where?

Never said it was buying into google stock at 19billion,

Not at $19 billion. You said it could be the next Google. Google which made $19 billion last year.
What will Bitcoin's earnings be this year? Next year?

Here’s the difference, when another recession comes, it’s gonna be the “safe” stocks that take a hit.

Why?

Bitcoin could get a big boost.

Or people will sell Bitcoin to meet margin calls or buy more stock on sale........

Not saying BTC is a sure thing. I’m loving the trend though, loving that naysayers keep eating crow,

Yup....Enron naysayers ate crow, until they didn't.

love that I’m making money.

Good on ya! Plenty of people make money if they sell before the music stops.

We both know it’s not a company like google, that’s where the straw man is. It is however up %1400 on the year vs googles 30%. Even if it drops down to 1000, it’s still up 40% on the year. I highly doubt that will happen because too many people trade with it, more are starting to, and when it drops, people start buying it back up.

We both know it’s not a company like google,

Exactly. Which is why you saying it "could turn out to be the next google or Facebook" was so stupid.

that’s where the straw man is.

Pointing out the stupidity of your comparison wasn't a straw man. But thanks anyway.

Nope, your just nitpicking here. If bitcoin reaches 1 million by the end of 2020, wouldn’t that be sort of like buying into google back in 2001? Not that hard of a concept to understand, we both know it’s not a company, but it can be treated like an asset. An asset that could drop and still be up 40% on the year.

If you don’t think so, or don’t even think it’ll get to 50,000, or you think it’ll just drop like a brick...don’t buy, it’s that simple. But Blockchain is the future, so youre gonna have to deal with it sooner or later.

Nope, your just nitpicking here. If bitcoin reaches 1 million by the end of 2020, wouldn’t that be sort of like buying into google back in 2001?

No, buying into a chain letter would not be like buying Google.

But Blockchain is the future,

So what?

1400% is a little more than a chain letter. 100,000 new users a day on Coinbase alone. And going up on the CME this month. I’d keep your eye on it.

 

[Toddsterpatriot]

Resorting to strawmen?

Where?

Never said it was buying into google stock at 19billion,

Not at $19 billion. You said it could be the next Google. Google which made $19 billion last year.
What will Bitcoin's earnings be this year? Next year?

Here’s the difference, when another recession comes, it’s gonna be the “safe” stocks that take a hit.

Why?

Bitcoin could get a big boost.

Or people will sell Bitcoin to meet margin calls or buy more stock on sale........

Not saying BTC is a sure thing. I’m loving the trend though, loving that naysayers keep eating crow,

Yup....Enron naysayers ate crow, until they didn't.

love that I’m making money.

Good on ya! Plenty of people make money if they sell before the music stops.

We both know it’s not a company like google, that’s where the straw man is. It is however up %1400 on the year vs googles 30%. Even if it drops down to 1000, it’s still up 40% on the year. I highly doubt that will happen because too many people trade with it, more are starting to, and when it drops, people start buying it back up.

We both know it’s not a company like google,

Exactly. Which is why you saying it "could turn out to be the next google or Facebook" was so stupid.

that’s where the straw man is.

Pointing out the stupidity of your comparison wasn't a straw man. But thanks anyway.

Nope, your just nitpicking here. If bitcoin reaches 1 million by the end of 2020, wouldn’t that be sort of like buying into google back in 2001? Not that hard of a concept to understand, we both know it’s not a company, but it can be treated like an asset. An asset that could drop and still be up 40% on the year.

If you don’t think so, or don’t even think it’ll get to 50,000, or you think it’ll just drop like a brick...don’t buy, it’s that simple. But Blockchain is the future, so youre gonna have to deal with it sooner or later.

Nope, your just nitpicking here. If bitcoin reaches 1 million by the end of 2020, wouldn’t that be sort of like buying into google back in 2001?

No, buying into a chain letter would not be like buying Google.

But Blockchain is the future,

So what?

1400% is a little more than a chain letter. 100,000 new users a day on Coinbase alone. And going up on the CME this month. I’d keep your eye on it.

1400% is a little more than a chain letter.

What's the proper gain for a chain letter?

And going up on the CME this month. I’d keep your eye on it.
​

I will. Like watching a train wreck about to happen.​