Someone at my work said this about Bitcoin..
 

That I'm going to lose all my money because it went public the other day, they're going to drive the prices down.

This guy is smart though, we make good money at our full time gigs so he's had investment money for many years. Recently, he's invested $70k in Amazon for two days and made $2500 off selling at the right time.

Do you think his mind is geared towards quick sells versus hype and long term bitcoin rallying?

Or is he onto something?

Speculation

no one knows the future of bitcoin, even the guy that invested 70k to make 2.5k, something any idiot can do in 1 day investing in any top 10 crypto coin in the past 2 weeks.

Maybe he's just too careful?

Can US/Canada implement any policy to ban this currency or make it illegal? If so how would they know if you use it still?

These are just questions I have. Doesn't hurt to talk to people.

If you want to take the risk

can "any idiot" make 2,5k from 70k in stock market as well?

Oh, and why people work at mcdonalds if it is so easy even for idiots.

just what i thought too...

I am not impressed with 4% ROI :1orglaugh

I was wondering if he'd missed off a zero or something.

Well, he mentioned how he did it in 2 days, so i guess that's normal for stock trading to have such roi.

Bitcoin - like stocks - you have TWO approaches:

1. Buy/Sell/Buy/Sell (micro manage)
2. Sit and hold (for years)

I suggest #2. :)

He invested a lot to multiply small gains from a slow moving stock. It's not like bitcoin where each "share" or coin goes up by hundreds a day.

Thanks man. Set and forget?

We need to do a thread about where to buy from, where to diversify wallets to and such.

My basic theory is that when the "big Wigs" get involved the rest of us have no chance of winning anymore.

How can the US make them illegal? are they going to make 100's of thousands of Americans criminals overnight? is everyone supposed to delete all their bitcoin? or will the be a time for a panic sell?
There are already bitcoin laws (which basically gives bitcoin it's credibility already) and soon it will be illegal to hold bitcoin without disclosing them to the government, which is okay if you are not too greedy and have no problem paying taxes for your profits, which I imagine most people don't have.

What they could do is make it illegal for banks/processing companies to handle any transactions from bitcoin exchanges/sites. Basically, what they did with online poker. When they wouldn't allow US banks to process those transactions it made it nearly impossible for people in the US to play online poker for real money. If they shut down the exchanges or make it so the exchanges can't offer US dollars it would really hurt Bitcoin.

Heh you watch what US Lawmakers can do when they smell m-o-n-e-y.

And letting Governments know how much Bitcoin you have (and paying taxes) defeats the whole purpose of Bitcoin for many people.

(Not me, I pay my taxes!)

Any idiot can definitely make 2.5k from $70k in two days in the stock market. Try doing it consistently for months/years and actually turning that 70k into say 300k over time without losing it. :2 cents:

Yeah after all that is how it works with buy/sell stocks, you need to trade daily in order to make it work

This ^^^^

For many years -> when using a combination of historical charting, watching trends and the paying attention to announcements in the news all made sense, I was trading EUR/USD currencies ninja style on a 5000 EUR FX account. Nothing was held for short or long term. As soon as I saw a net gain of 1-2-3 PIPs, I was making the transaction. Going on memory the typical gain was 40-120 USD each transaction. I repeated that multiple times a day. The goal was to close a lot more transactions with a gain than a loss.

And now you're taking photos at porn conventions.

There's a lesson there folks....:)

I never took photos at the conferences. Our photographers did.

Funny how all these non-bitcoin-holders, and those who never owned any, and knows nothing about blockchain and crypto, always seem to have this professional investing opinion about bitcoin :1orglaugh