Bitcoin kicking ass

[my2¢]

I can't shake feeling that if I would have jumped in, then let's just say this here topic would be comparing Bitcoin's history to that of the Dutch Tulip Bulb market bubble.

 

[sakinago]

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.

Bitcoin is a classic bubble. It is not a Stock. It is not a currency. It is a Dutch tulip bulb. If you don’t know that reference then I suggest you research it. The problem with investing in a bubble is you never know when it is going to burst.

See I don’t think so. A. It’s been around for 8 years, steadily climbing, and what let to initial jump what’s China ok’ing it. On top of that, too many people have been trading it, so when it drops, they buy it right back up. And the people in it right now are those who believe in the tech. “Well so did the Dutch with their tulips.” But BTC is certainly more secure than a tulip. People keep trying to compare it to this or that, truth is we haven’t seen anything like this.

If this were a stock, I agree, it’s definitely in a bubble. Nope I think this is just the usership rising, and people are in it for the long haul. I could see it being more compared to a pyramid scheme more, but it’s been around for coming up on 10 years, it’s been steadily climbing, and a lot of people have made a lot of money, and a lot of people are just buying and holding for the long run.

 

[ThunderKiss1965]

What happens to your bit coin? There is no repository beyond the net. It just goes poof!

The internet is designed by the DoD to withstand a nuclear war.

I dont think we have as much to worry about as fiat currency holders do. And that is not all that much either.

The electrical grid is not.

 

[sakinago]

What happens to your bit coin? There is no repository beyond the net. It just goes poof!

The internet is designed by the DoD to withstand a nuclear war.

I dont think we have as much to worry about as fiat currency holders do. And that is not all that much either.

The electrical grid is not.

Yea but even if that happens I don’t think golds gonna help you all that much, since people aren’t going to have much use for shiny things if they are starving to death.

 

[dannyboys]

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. What is bitcoins ? There are specific reasons the dollar could lose value and you can more or less be prepared for those that's not the case for bitcoin. In the event of a total collapse at least you could use money as toilet paper or to start a fire.

Plastic Bitcoins coated in a 'Gold-Like coating' won't start any fires. HAAA HAAAA!

 

[BuckToothMoron]

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.

Bitcoin is a classic bubble. It is not a Stock. It is not a currency. It is a Dutch tulip bulb. If you don’t know that reference then I suggest you research it. The problem with investing in a bubble is you never know when it is going to burst.

See I don’t think so. A. It’s been around for 8 years, steadily climbing, and what let to initial jump what’s China ok’ing it. On top of that, too many people have been trading it, so when it drops, they buy it right back up. And the people in it right now are those who believe in the tech. “Well so did the Dutch with their tulips.” But BTC is certainly more secure than a tulip. People keep trying to compare it to this or that, truth is we haven’t seen anything like this.

If this were a stock, I agree, it’s definitely in a bubble. Nope I think this is just the usership rising, and people are in it for the long haul. I could see it being more compared to a pyramid scheme more, but it’s been around for coming up on 10 years, it’s been steadily climbing, and a lot of people have made a lot of money, and a lot of people are just buying and holding for the long run.

Usership is not rising in conjunction with the price. People buying bitcoin now are not using it in commerce. They are buying it to sell it later at a higher price. They are speculators. So why don’t you tell us why you bought it, tell us at what price do you plan to sell it, tell us what you would do if the price goes up 5 times from where you bought it, tell us how far the price would have to drop for you to sell.

 

[dannyboys]

Bitcoin is nothing more than a hybrid monopoly game/chain letter/pyramid-Ponzi scheme.
Funny how only those with the most 'gold-like' covered plastic coins are getting rich.
When I played the stock market, as a hobby, years ago, we used to 'Shake The Tree' when we had enough dupes sitting in the tree clutching their worthless (cough) 'stocks'.
They'd all fall out of the tree and we'd go around and pick up their money off the ground. HAA HAAAA!
We'd go back to 'The Well' and sell the worthless stocks to a bunch of other dupes and do it again.

 

[dannyboys]

What happens to your bit coin? There is no repository beyond the net. It just goes poof!

The internet is designed by the DoD to withstand a nuclear war.

I dont think we have as much to worry about as fiat currency holders do. And that is not all that much either.

The electrical grid is not.

Yea but even if that happens I don’t think golds gonna help you all that much, since people aren’t going to have much use for shiny things if they are starving to death.

When you can take a wheelbarrow of 'gold-like' plastic coins into a new car dealership and drive away in a new car by all means let us know.

 

[sakinago]

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.

Bitcoin is a classic bubble. It is not a Stock. It is not a currency. It is a Dutch tulip bulb. If you don’t know that reference then I suggest you research it. The problem with investing in a bubble is you never know when it is going to burst.

See I don’t think so. A. It’s been around for 8 years, steadily climbing, and what let to initial jump what’s China ok’ing it. On top of that, too many people have been trading it, so when it drops, they buy it right back up. And the people in it right now are those who believe in the tech. “Well so did the Dutch with their tulips.” But BTC is certainly more secure than a tulip. People keep trying to compare it to this or that, truth is we haven’t seen anything like this.

If this were a stock, I agree, it’s definitely in a bubble. Nope I think this is just the usership rising, and people are in it for the long haul. I could see it being more compared to a pyramid scheme more, but it’s been around for coming up on 10 years, it’s been steadily climbing, and a lot of people have made a lot of money, and a lot of people are just buying and holding for the long run.

Usership is not rising in conjunction with the price. People buying bitcoin now are not using it in commerce. They are buying it to sell it later at a higher price. They are speculators. So why don’t you tell us why you bought it, tell us at what price do you plan to sell it, tell us what you would do if the price goes up 5 times from where you bought it, tell us how far the price would have to drop for you to sell.

I bought .2 BTC, around the dip after the fork (wish I bought before the fork), at around 6200. I have since almost doubled, and have insulated myself by pocketing my original investment (almost, if it goes to zero, I’m out only 100). If it dips around 5000 again, I’ll probably pull out, and still have made 400. As far as when to sell, I’m going to ride it out, keep watching, I’m looking to see what it does mid 2018, and will re-evaluate, and go from there. 25,000 by the end 2018 is a modest bull projection...and I will be perfectly happy with that. Some go as high as 40,000, which also wouldn’t surprise me. But like I said, I’m gonna keep an eye on it and evaluate as I go.

 

[JimBowie1958]

I bought .2 BTC, around the dip after the fork (wish I bought before the fork), at around 6200. I have since almost doubled, and have insulated myself by pocketing my original investment (almost, if it goes to zero, I’m out only 100). If it dips around 5000 again, I’ll probably pull out, and still have made 400. As far as when to sell, I’m going to ride it out, keep watching, I’m looking to see what it does mid 2018, and will re-evaluate, and go from there. 25,000 by the end 2018 is a modest bull projection...and I will be perfectly happy with that. Some go as high as 40,000, which also wouldn’t surprise me. But like I said, I’m gonna keep an eye on it and evaluate as I go.

I mined 121 light coins now worth around $50 each.

Now if only I can find my password....

 

[BuckToothMoron]

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.

Bitcoin is a classic bubble. It is not a Stock. It is not a currency. It is a Dutch tulip bulb. If you don’t know that reference then I suggest you research it. The problem with investing in a bubble is you never know when it is going to burst.

See I don’t think so. A. It’s been around for 8 years, steadily climbing, and what let to initial jump what’s China ok’ing it. On top of that, too many people have been trading it, so when it drops, they buy it right back up. And the people in it right now are those who believe in the tech. “Well so did the Dutch with their tulips.” But BTC is certainly more secure than a tulip. People keep trying to compare it to this or that, truth is we haven’t seen anything like this.

If this were a stock, I agree, it’s definitely in a bubble. Nope I think this is just the usership rising, and people are in it for the long haul. I could see it being more compared to a pyramid scheme more, but it’s been around for coming up on 10 years, it’s been steadily climbing, and a lot of people have made a lot of money, and a lot of people are just buying and holding for the long run.

Usership is not rising in conjunction with the price. People buying bitcoin now are not using it in commerce. They are buying it to sell it later at a higher price. They are speculators. So why don’t you tell us why you bought it, tell us at what price do you plan to sell it, tell us what you would do if the price goes up 5 times from where you bought it, tell us how far the price would have to drop for you to sell.

I bought .2 BTC, around the dip after the fork (wish I bought before the fork), at around 6200. I have since almost doubled, and have insulated myself by pocketing my original investment (almost, if it goes to zero, I’m out only 100). If it dips around 5000 again, I’ll probably pull out, and still have made 400. As far as when to sell, I’m going to ride it out, keep watching, I’m looking to see what it does mid 2018, and will re-evaluate, and go from there. 25,000 by the end 2018 is a modest bull projection...and I will be perfectly happy with that. Some go as high as 40,000, which also wouldn’t surprise me. But like I said, I’m gonna keep an eye on it and evaluate as I go.

So you invested roughly $1200, have sold 0.1 bitcoin, still own 0.1 bitcoin. Are my numbers accurate?

 

[ThunderKiss1965]

What happens to your bit coin? There is no repository beyond the net. It just goes poof!

The internet is designed by the DoD to withstand a nuclear war.

I dont think we have as much to worry about as fiat currency holders do. And that is not all that much either.

The electrical grid is not.

Yea but even if that happens I don’t think golds gonna help you all that much, since people aren’t going to have much use for shiny things if they are starving to death.

Gold has had some value for the majority of human history as you said it's shiny mankind has always liked shiny things. The so called cryptocurrencies would never survive an economic collapse.

 

[Asclepias]

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.

Bitcoin is a classic bubble. It is not a Stock. It is not a currency. It is a Dutch tulip bulb. If you don’t know that reference then I suggest you research it. The problem with investing in a bubble is you never know when it is going to burst.

Bitcoin is like any other investment. Its not a magic bullet or get rich quick scheme unless you want to use it like some day traders. The short and long term ROI with Bitcoin is unlike anything else I have ever seen and I love me some real estate. My guess is it will crash again. When it does I will be there to buy more of it because its not going anywhere.

 

[Asclepias]

What happens to your bit coin? There is no repository beyond the net. It just goes poof!

The internet is designed by the DoD to withstand a nuclear war.

I dont think we have as much to worry about as fiat currency holders do. And that is not all that much either.

The electrical grid is not.

Yea but even if that happens I don’t think golds gonna help you all that much, since people aren’t going to have much use for shiny things if they are starving to death.

Gold has had some value for the majority of human history as you said it's shiny mankind has always liked shiny things. The so called cryptocurrencies would never survive an economic collapse.

Cryptocurrencies create their own economy.

 

[dannyboys]

What happens to your bit coin? There is no repository beyond the net. It just goes poof!

The internet is designed by the DoD to withstand a nuclear war.

I dont think we have as much to worry about as fiat currency holders do. And that is not all that much either.

The electrical grid is not.

Yea but even if that happens I don’t think golds gonna help you all that much, since people aren’t going to have much use for shiny things if they are starving to death.

Gold has had some value for the majority of human history as you said it's shiny mankind has always liked shiny things. The so called cryptocurrencies would never survive an economic collapse.

Gold has properties that are critical to advanced electronics.
Plastic 'Gold-like' coated Bitcoins? Not so much.

 

[Asclepias]

What happens to your bit coin? There is no repository beyond the net. It just goes poof!

The internet is designed by the DoD to withstand a nuclear war.

I dont think we have as much to worry about as fiat currency holders do. And that is not all that much either.

The electrical grid is not.

Yea but even if that happens I don’t think golds gonna help you all that much, since people aren’t going to have much use for shiny things if they are starving to death.

Gold has had some value for the majority of human history as you said it's shiny mankind has always liked shiny things. The so called cryptocurrencies would never survive an economic collapse.

Gold has properties that are critical to advanced electronics.
Plastic 'Gold-like' coated Bitcoins? Not so much.

Gold has properties that are critical to advanced electronics.

Like what?

 

[sakinago]

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.

Bitcoin is a classic bubble. It is not a Stock. It is not a currency. It is a Dutch tulip bulb. If you don’t know that reference then I suggest you research it. The problem with investing in a bubble is you never know when it is going to burst.

See I don’t think so. A. It’s been around for 8 years, steadily climbing, and what let to initial jump what’s China ok’ing it. On top of that, too many people have been trading it, so when it drops, they buy it right back up. And the people in it right now are those who believe in the tech. “Well so did the Dutch with their tulips.” But BTC is certainly more secure than a tulip. People keep trying to compare it to this or that, truth is we haven’t seen anything like this.

If this were a stock, I agree, it’s definitely in a bubble. Nope I think this is just the usership rising, and people are in it for the long haul. I could see it being more compared to a pyramid scheme more, but it’s been around for coming up on 10 years, it’s been steadily climbing, and a lot of people have made a lot of money, and a lot of people are just buying and holding for the long run.

Usership is not rising in conjunction with the price. People buying bitcoin now are not using it in commerce. They are buying it to sell it later at a higher price. They are speculators. So why don’t you tell us why you bought it, tell us at what price do you plan to sell it, tell us what you would do if the price goes up 5 times from where you bought it, tell us how far the price would have to drop for you to sell.

I bought .2 BTC, around the dip after the fork (wish I bought before the fork), at around 6200. I have since almost doubled, and have insulated myself by pocketing my original investment (almost, if it goes to zero, I’m out only 100). If it dips around 5000 again, I’ll probably pull out, and still have made 400. As far as when to sell, I’m going to ride it out, keep watching, I’m looking to see what it does mid 2018, and will re-evaluate, and go from there. 25,000 by the end 2018 is a modest bull projection...and I will be perfectly happy with that. Some go as high as 40,000, which also wouldn’t surprise me. But like I said, I’m gonna keep an eye on it and evaluate as I go.

So you invested roughly $1200, have sold 0.1 bitcoin, still own 0.1 bitcoin. Are my numbers accurate?

Yup around that.

 

[Toddsterpatriot]

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.

Bitcoin is a classic bubble. It is not a Stock. It is not a currency. It is a Dutch tulip bulb. If you don’t know that reference then I suggest you research it. The problem with investing in a bubble is you never know when it is going to burst.

See I don’t think so. A. It’s been around for 8 years, steadily climbing, and what let to initial jump what’s China ok’ing it. On top of that, too many people have been trading it, so when it drops, they buy it right back up. And the people in it right now are those who believe in the tech. “Well so did the Dutch with their tulips.” But BTC is certainly more secure than a tulip. People keep trying to compare it to this or that, truth is we haven’t seen anything like this.

If this were a stock, I agree, it’s definitely in a bubble. Nope I think this is just the usership rising, and people are in it for the long haul. I could see it being more compared to a pyramid scheme more, but it’s been around for coming up on 10 years, it’s been steadily climbing, and a lot of people have made a lot of money, and a lot of people are just buying and holding for the long run.

Usership is not rising in conjunction with the price. People buying bitcoin now are not using it in commerce. They are buying it to sell it later at a higher price. They are speculators. So why don’t you tell us why you bought it, tell us at what price do you plan to sell it, tell us what you would do if the price goes up 5 times from where you bought it, tell us how far the price would have to drop for you to sell.

I bought .2 BTC, around the dip after the fork (wish I bought before the fork), at around 6200. I have since almost doubled, and have insulated myself by pocketing my original investment (almost, if it goes to zero, I’m out only 100). If it dips around 5000 again, I’ll probably pull out, and still have made 400. As far as when to sell, I’m going to ride it out, keep watching, I’m looking to see what it does mid 2018, and will re-evaluate, and go from there. 25,000 by the end 2018 is a modest bull projection...and I will be perfectly happy with that. Some go as high as 40,000, which also wouldn’t surprise me. But like I said, I’m gonna keep an eye on it and evaluate as I go.

So you invested roughly $1200, have sold 0.1 bitcoin, still own 0.1 bitcoin. Are my numbers accurate?

He's probably shopping for a second home......

 

[BuckToothMoron]

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.

Bitcoin is a classic bubble. It is not a Stock. It is not a currency. It is a Dutch tulip bulb. If you don’t know that reference then I suggest you research it. The problem with investing in a bubble is you never know when it is going to burst.

Bitcoin is like any other investment. Its not a magic bullet or get rich quick scheme unless you want to use it like some day traders. The short and long term ROI with Bitcoin is unlike anything else I have ever seen and I love me some real estate. My guess is it will crash again. When it does I will be there to buy more of it because its not going anywhere.

Interesting post- your first sentence you proclaim bitcoin is like any other investment. Then in your third sentence you proclaim bitcoin is unlike anything else.... You make your self very clear, you have no idea what you are talking about.

 

[Asclepias]

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.

Bitcoin is a classic bubble. It is not a Stock. It is not a currency. It is a Dutch tulip bulb. If you don’t know that reference then I suggest you research it. The problem with investing in a bubble is you never know when it is going to burst.

Bitcoin is like any other investment. Its not a magic bullet or get rich quick scheme unless you want to use it like some day traders. The short and long term ROI with Bitcoin is unlike anything else I have ever seen and I love me some real estate. My guess is it will crash again. When it does I will be there to buy more of it because its not going anywhere.

Interesting post- your first sentence you proclaim bitcoin is like any other investment. Then in your third sentence you proclaim bitcoin is unlike anything else.... You make your self very clear, you have no idea what you are talking about.

I think you just proved you have no idea you know what you are talking about. ROI means return on investment. Bitcoin is an investment just like any other. The ROI is what is different.