BTC Naysayers...
 

My initial $2000 (roughly 4 months ago) BTC investment just paid our 40% deposit on a new 3br/2ba home.

But its just a Ponzi scheme.

That is all.

Say hi to mommy for me when you venture upstairs out of her basement.

:1orglaugh:1orglaugh:1orglaugh

good for you

Thank you :)

http://media.tumblr.com/tumblr_lstli3zujF1qctkcl.jpg

No more trailer for you then, Congratz! :thumbsup

:stoned

ADG

+ i figure you had a blast learning and participating in a technology incubating.

so you made 5k? better than nothing but i assume you cashed out before the big crash.

I wouldn't say that but it was definitely a unique experience, we still have a few grand invested that we are just going to 'forget' about and in a year or two see what the value is at, right now even if we lose it, its 'free' money (once cashed out) so its not really a loss.

Maybe once things become a little more stabilized we'll pump some more $$$ into the different types of crypto currencies but for now we're done on the investing side of things, bigger and better things are coming that we want to focus on, the least of which being the new home :thumbsup

gotcha, i know i've certainly had a blast with it.

I'm hoping sometime in the next year or two the stock markets crash and burn forcing people into panic mode so they start buying BTC... That $3500 we have left should be worth a pretty penny if that scenario happens, so long as well cash out at the right time :winkwink:

the fascinating thing about btc is it behaves like a start-up but it's actually a cottage industry, a start-up can survive 1 bubble, an industry can survive many and usually the next one is always bigger than the previous one. at least, that's my take on it.

i agree...

ITT: People calling a "down payment" on a home loan when it's actually a discount night at Motel 6

Nice .. There is money to be made in cryptocoins keep an eye on litecoins and feathercoins :2 cents:

I don't want to rain on your parade, but I am curious. You must live somewhere where property is pretty cheap. It seems, based on the charts I see, that around 4 months ago you could get a bitcoin for about $20-$30. So assume you got yours for $20. Your 100 bitcoins would then cash out recently at around $80 per for a total of $8,000.

So the house only costs around $20,000? Am I missing something?

Just like any economy there are all kinds of things going on within the bitcoin community to make more bitcoin.

I'm pretty sure he was invested in a mining company.

You're correct.

We were heavily invested into ASICMINER-PT, we were lucky that we got out before the huge drop in share value last week although, we do still have some shares just 'floating'.

It sucks that both share price and overall BTC value dropped at the same time but that is par for the course I guess on something like BTC.

The expected value jump in LTC over the coming weeks once/if they get added to GOX will be good though, so long as our LTC sell, that will be another 40+ BTC which we will either cashout or throw back into ASICMINER-PT.

One of the concerns I have with ASICMINER right now is that the dividends have been smaller the past 5 weeks based on a higher share price, I just couldn't justify holding funds up any longer given our situation with the house, etc compared to lower dividend payouts.

That makes more sense.

Hell, if you were buying a nice 3br house for $20K I was going to move :)

if 8k was 40% then you could guess he was paying 5% downpayment on a home that cost something like 350k.