:1orglaugh:1orglaugh:thumbsup

More likely: $2k, $1k...

If you go to the Trade Shows, the majority of people are BitCoin "experts".

And you go away feeling kind of slimy.

Any business that understands you can get the USD equivalent instantly, and the price in btc (or other crypto) is adjusted so $ amount stays the same?

12,000+ shorts were liquidated in minutes :thumbsup :thumbsup

Going up, up, up!

up up up up uppppppppppppppppppppppppppp!

4th time...the red line of doom...DOOM!


https://www.tradingview.com/x/CDiDBquc/

Going down!!

Is that your love life or Bitcoin? :D

I sold all of my bitcoin investments. Its a lost cause to invest in bitcoin. Its behavior leading up to christmas insane spike and subsequent fall just reinforces suspicions about the validity of the currency.

A smart investor can see that it intentionally manipulated the market to drive up its value to insanely unsustainable high leading up to christmas so people would jump in on the climb up, and those who manipulated it, cashed out around the 23rd Dec for their own "lottery winnings" which then lead to its sharp decline. It has hasn't recovered since. Because of that obvious point alone, it became very clear that Bitcoin cannot be trusted. Its a scheme, elaborate, but at the end of the day, it is what it is...a scheme. That's why a lot of countries are cracking down on Bitcoin recently since last christmas.

Because I invested earlier on, I still made a very nice profit on my initial investment when I cashed out last month. Safe to say, I will not be investing in Bitcoin in the future, given it has shown its true colors. There are far better options out there than Bitcoin to invest in that doesn't have the unscrupulous track record of bitcoin.

You win all the prizes

Yes but how long does it take for the Stock Market (or an individual stock) to recover after a 50% crash? Even the Internet itself recovered after the dot com bubble of the late '90's. So compared to Wall Street shenanigans I would say Bitcoin is relatively clean. LOL

20k by the end of the year is doable since it's only April and eight months to go. But that would mean more than doubling its' current evaluation. If that happens WHOOSH all of a sudden (again) then that would be surprising. Instead I suspect a slow creeping up over time then a natural mini-whoosh around the Holidays.

Bought in, got emotional on the rises & declines, and got out very dissatisfied are the ones who call it a scheme. This person probably also never used it. Never realized the speed, ease, tiny fees, and independence of it.

Bitcoin is new, it's finite yet not even done yet being fully created.

"A smart investor" --- a SMART investor would rip into bitcoin and make massive gains on every rise and fall.

Good you got out :thumbsup Bitcoin is not for everyone.

I love how everyone knows exactly what a smart investor would do, but no one ever does it

I get all my investment advice from the GFY genius bar. These guys (girls and my transgender friends) are so fucking smart! What I've learned so far? Buy low and sell high and make a profit then whine about it for a while. Then, with your new cred, advise others. It's a win-win for everyone. :1orglaugh:1orglaugh:1orglaugh

Personally I do not listen to anyone who owns 1 Bitcoin or less. Not enough skin in the game, too panicky and short-sighted, and they end up being whiny little bitches complaining about losing $50. :1orglaugh

I take all my advices from GFY. Seems like very strong supporters here :321GFY

Going up up up!!

How did little Johnny loose all his money? He took financial advise form a online forum called GoFuckYourself:1orglaugh

That would make a great Lifetime movie. LOL

I have changed my opinion.
I am punting on $20k by Oct 2018 and $28k by end of year

It's impossible to predict. The only thing I feel confident about is Videocoin. What other crypto would cancel an ICO because they got enough cash from institutional investors? It shows the big boys believe in it (and they're smarter investors than me) and that it's not a cash grab.

Bitcoin? Who knows. It has no compelling use case other than crime and tax evasion.

Well that quite clearly is bullshit.

Provide examples, then.

"use" - who "uses" Bitcoin? It's an investment.

There are two benefits to Bitcoin:

1. Anonymity
2. Limited supply

Even if #1 is closed by Governments #2 would still apply. L
imited supply often = $$$$$.

If those are the only two reasons people would use bitcoin, then what's your argument for why people will buy more of it in the future? "Limited supply" only matters insofar as it relates to speculation. "Limited supply" would be great if I could think of a strong reason why people will need/want to buy bitcoin 10 years from now. But the only reasons I can think of are crime and tax evasion--or if your local economy is so fucked/corrupt/dangerous that you need to store value such that your risk is spread globally. But that's a small percentage of the world, and rich people (regardless of location) don't need crypto to store value securely. They can safely park their money anywhere from US real estate to Panamanian shell corps.

That's why I'm into utility tokens, like Videocoin and Ethereum, which carry an intrinsic value: You can exchange them for some form of distributed computing power. Blockchain is an amazing technology that enables decentralized, trustless contract settlement. However, by itself, there's not any inherent use for it. Even fiat has an inherent use/intrinsic value--it's legal tender for all debts private and public. If I owe you money and try to give you fiat to cancel the debt, you legally can't tell me no. If I owe you money, bitcoin is useless if you won't accept it. I have to convert it to fiat.

Well you bring up several interesting factors. First off, the only people who care about whether something is 'useful" or "works" are the geeks. The average person knows and cares not about the technology. I have no idea how aeronautics works but I know Boeing is a good investment. :)

This is why Bitcoin is worth 20x or so what Ethereum is worth. That should tell you something. In other words, no one ever went broke underestimating the intelligence of the average person.

Having said all that, 'value" is what we place on it. What you said in the beginning could be applied to gold as well. Gold is just a metal, after all. But it is its' scarcity, difficulty to mine/acquire and shiny brilliance that makes us humans attach value TO IT. It has no inherent value except for certain scientific uses etc.

My point? Once enough people/institutions/governments adopt block chain technology Bitcoin - and perhaps a handful of others - will become "legitimate". In the next decade or so everything will be digital anyway. Crypto will be just another option to pay or investment to buy on an exchange.

BTC is $7,900.

Please get it back above $17,000 (mid-Dec 2017) so I can get my $200 out, and pay off the cc that I used to purchase.

You shouldn't invest more than you can afford to lose. You're welcome.

I'd rather remain bitcoinless ...

I'll give you $200 for whatever Bitcoin you have left. :)

Still going up! Slowly but surely....:)

Should be pointed out that, by market cap, Bitcoin is less than 3x as valuable as Ethereum.

On a fundamental level you're obviously right; 'value' is what we place on it. But compare Bitcoin, Boeing stock, and gold: They have different intrinsic properties. Boeing stock entitles me to voting rights and dividends in a multinational corporation. Gold is used to make jewelry, electronics, and a variety of other things. Bitcoin enables instant, anonymous online payment, across borders.

The problem is that governments have a vested interest in NOT allowing that. The #1 reason you'd want to use bitcoin (beyond speculation) is because you are doing something illegal and don't want the government to know about it.

Governments can shut down fiat-crypto exchanges any time they want (india just did it), and if they do, the only way you can trade fiat-crypto is by meeting shady people in person and exchanging cash. Fuck everything about that.

That's why for investment I prefer the utility tokens. They have a value beyond enabling something governments don't want. Some day I think we'll be hosting our websites on decentralized cloud infrastructure backed by blockchain. Shit will be lit.

we need it at 20k as a start

Yes but again you are thinking in terms of "usefulness". Bitcoin is not to be SPENT, it is meant to be held and then sold for profit. We may as well be talking about old sneakers here. Bitcoin is an illusion BUT SO IS MONEY.

India can ban anything they want but as long as Indians have a VPN they can buy/sell whatever they want. (Or maybe India is so broke ass that no one there has PayPal or the ability to open bank accounts outside India.)

For any Government to successfully kill a Bitcoin (or any crypto) with the goal of eliminating "illegal activity" they would ALSO have to ban cash. Otherwise it's pointless.

You literally just described a Ponzi scheme--a useless investment with no intrinsic value, whose only purpose is to make current investors money at the expense of future investors.

Bitcoin was originally meant to be SPENT. If it's not meant to be spent, what's its purpose? What differentiates it from any other Ponzi scheme?

I'm able to spend bitcoin daily. Too bad America is so far behind in technology.

People throw around this term "Ponzi scheme" without really knowing what it is. A "Ponzi scheme" (named after a guy named Ponzi) goes like this:

You give me 100K.
Next guy gives me 100K
I give you 10K from the second guy.....
And so on til everything gets fucked up.

With Bitcoin you are purchasing a bit of technology, but a LIMITED piece (with Ponzei schemes there's no 'end' in sight, no limits). This 'thing' (Bitcoin) has an arbitrary value some humans place on it.

"Hey I've only got X# of these things. I will sell one to you for $100."
"OK, then I will hype it up and sell it to another guy for $110....got any more I can buy?"
"Yes, but now it's $200 since I only have a limited supply..."
And so on.

Instead of "Ponzi" call it "futures" (which is why the Chicago Mercantile Exchange is trading Bitcoin). Like, the price of tomatoes. Who says they are worth $0.20? Throw in market influences and there you have it.

I did in USA but only on some places

There was a shortage of tomatoes round these parts some months back. You couldn't get hold of them for love nor money. Used to be able to buy them for 99p a punnet. Some traders were selling them for more than double that! (£2.29).