Hi All,
Just wondering what is your thought of BITCOIN which is well over $15000 USD.
I was monitoring that since it was $1100. Now its 14x and i was thinking $#/+ that is expensive a year ago and now i am thinking the same.
Any thought what do you think of it.
[edit]
Its hit today $19230+ USD.
Yep hence why everything is such a huge gamble at the moment.
LN just passed MainNet test, not far away.
http://bitcoinist.com/lightning-network-passes-bitcoin-mainn…
I got in at $4.9kAUD which wasnt that long ago. I've sold a bit and spread into alt coins and was doing fab until yesterday :P. Loving every second of crypto though.
People want things they cant have, Most people wont ever own a bitcoin now.
I still remember back in 2013 when it crashed and on the Bitcoin subreddit they stickied the suicide helpline and that Mt Gox was a Magic the Gathering trading site before becoming a Bitcoin trading site. This is the stuff that makes me not take it as seriously as I should. I have about $1,000 (bought at $400) invested and that's the most I'm willing to spend for something I still don't understand or really think about.
Bitcoin is as much thin air as the Internet. Which interestingly happens to power this very website and more broadly most of the world. Of course staying out of an investment because you don’t understand it is very reasonable, but if you have an appetite for risk then it’s not a bad time to exercise it.
I look forward to the thread in 20 years time when BTC hits $1m and then crashes back to $200k and everybody finally gets to say ‘I told you so’.
I bet NAB are feeling a little silly given the choice they made with bitcoin-using customers 3 years ago…
http://www.smh.com.au/it-pro/business-it/nab-severs-ties-wit…
I have about $3k to risk, should I buy now? Any advice?
I feel bad for ignoring bitcoins all this time :( I regret not buying any.
My rule for investing is you need to be prepared to lose everything. If you can afford to lose $3k then I would say yes, but don't go buying cryptocurrency without understanding its volatility and how to properly secure them. It would be awful if you had bought earlier, been on an exchange during the flash crash earlier today, and sold at 17k, only to watch it jump back up to 24k a minute later.
CBOE futures market opening up on Sunday and this is what is making everyone nervous atm. Some are saying that as soon as it opens up a significant proportion of the institutional investors and 'rogue' investors will short their position and dump all their BC sending prices falling and make a killing off their short position in the futures market. Other people say that it's another milestone for global acceptance of BC and we will see further rises in the price.
TBH, who knows man, who knows. I don't think anyone other the real players in the BC game actually have a clue, we're all along just for the ride.
It's gambling, plain and simple.
Tomorrow morning, you could lose everything.
It's value is based purely on speculation. No product, no profit, no miracle invention. Purely speculation.
May as well go to the casino and bet on black. At least you've got almost 50/50 chance.
With crypto, the odds are a mystery.
Invest in what you know… because most of the people putting their real cash into this fake currency know nothing about currency or cash. They are gambling.
Bit sad you dont have any?
May as well go to the casino and bet on black. At least you've got almost 50/50 chance.
With crypto, the odds are a mystery.
Great, you have a known potential loss and an unbounded, large, non-linear potential gain.
Bitcoin might have a high price, but it has no value.
The problem with ANY currency is that it's only worth what people are willing to trade for it….
Right now finding a reputable company that accepts bitcoin for large purchases is both risky and hard to find, meaning you could have $10,000 of bitcoin that in "theory" is worth that amount, but if no one is willing to trade it for real goods or services it's useless.
PWC accept them
https://www.wsj.com/articles/pricewaterhousecoopers-accepts-…
That wasn't too risky or hard to find ;)
He said "reputable" :P
Big-4 professional services are glorified sweatshops.
Yeah, PWC have a terrible reputation… /s
I didn't neg you. But they have a terrible reputation as an employer, along with the other Big-4s. :)
I disagree, I don't think they have that reputation, and I know they don't deserve that reputation.
I've personally worked for Deloitte and with PwC and I found them to be exemplary employers.
Maybe there are a few disgruntled ex-employees trying to slander them, but all companies large enough will have those.
Righto. Glad it worked out for you.
Don't get me wrong, its great for grads as they learn a lot of useful skills and get experience in wide variety of different industry domains. However, once you're a senior or principal, you have woeful work-life balance and payscales lag behind most of the other boutique firms (let's take the banks out of the equation as they are market setters). This has been what I've been told by almost every single big-4 acquaintance (ex or presently working there) of mine, and my impression is based off that (and from working in both consulting and internal teams for a fair few years).
Apologies for derailing the topic though. If you'd like to have a chat, feel free to PM me. :)
It's going to be worth millions I reckon
there is literally no support on the recent gains, just all vertical
Print your bitcoins. Exchanges are trading/selling more bitcoins than actually exist.
You may not actually own bitcoins.
If you plan to hodl then print them out. Or you might find your exchange gets 'hacked' (rush for liquidity that does not exist).
BTC going to $25K USD according to BPC report.
Link?
All I have related to 'Bit' is 'BitTorrent'
In 2018-2019, people will be like "Man, I can't believe I didn't buy BTC when it was $15K USD, it's now $70K… Bubble!!!" 16mill bitcoin in circulation, 1mill locked up in Satoshi wallet, 1mill lost in wallets, 5-6mill HODLers from ultra wealthy, remaining supply 8 million. According to BPC report, hedge funds on Wallstreet will be adding about 5% of their portfolio in crypto. Wallstreet is a trillion dollar market, imagine 5% of that…. Total crypto market now is $400 billion. Worth less than 1 company, e.g. Facebook. People just see the price and freak out. What you should be looking at is comparable industries and markets. Wallstreet projects FUTURE potential, they will shoot BTC to the moon. Still HODLing my 16 BTC bought at $3.2k. I'll sell when it hits around $70k
Which exchange let you buy $50k worth at once?
localbitcoins
The Hedge funds will short it.
all future settlements in USD, so ppl buying futures never actually trade BTC. The Tether situation means Bitfinex will keep printing USDT to inflate BTC price, which will FOMO more people putting $$ into BTC.
ctrl + f "tether" and one person knows what they're talking about. Do you think Tether/Bitfinix will ruin crypto for everyone for some time? They keep printing 25mill tether every time it looks to dip.
well said, im with you, hodling since 1k
Finally someone gets it
you will have it and use it, sooner or late.
its an idea/ technology that wont go away. we are blessed to have it, at 50k it would be still underestimated assest.
Jesus. If you guys are that sure then go sell your house and your families homes too and put it all on bitcoin. Good luck ;)
Should've gone it when it was $200, would have $100m rn :(
i have all my savings into btc, no car atm. LEGIT.
plz mention me in this post next yr same date, if it didnt go over 100k at that time, i will shave my head and post it.
But at what point would you sell? Eg it goes to 100k and drops back down but you didn't get out?
it goes up and goes down (stabilize), i wont sell until i really have to.
im not daily trader, you could buy in dip and sell in high for small amount, one full bitcoin is becoming hard and harder to get your hands on, imagine how much would be one btc when all the coins are mined…
please do your research dont underestimate bitcoin, i will be here next year to defend this post.
I think I'll rather invest in a high-yielding Mercedez Bens rather than Crypto. Not a financial advice.
Everyone making negative comments is clearly bitter that they missed out.
I agree and they are still waiting the right time to buy some.
i will buy $100 worth
Buy Lisk.
Do you mean 'coins', or shares in the company? I see they're linked with Microsoft. While I detest MS, many things they stick money in take off. But I can't help wondering if MS has linked to others too.
Bitcoin chart is unique, are we experience hyperinflation?
https://www.google.com.au/search?client=ms-android-samsung&d…
No, the opposite. HyperDeflation.
The incentive is to hoard Bitcoins as the purchasing power (price) is increasing.
Hyperinflation is were you would spend as quick as possible as your purchasing power is reducing.
Your purchase power increase, but with lesser bitcoin. You are so funny :)
Isn't that exactly what is happening now?
Bitcoins purchased a few years ago for a few hundred dollars each are now worth $15k+. ie. You are able to purchase more with "lesser" Bitcoins.
I'm not sure if that is funny, but you would certainly have a smile on your face!
@Baysew: Depend on which angle you look at: if you hold AUD -> hyperinflation of AUD, if you hold Bitcoin -> hyperdeflation!
l don't even know what the heck is bitcoin? ! ? net game money or something? can they funds for bets account?
Tried to mine it on my computer when it was at it's real early stages. Couldn't work it out so gave up. The rest is history.
Same boat, downloaded the software and never got around to it. Kicking my self.
i'm playing with a little day to day trading which is teaching me a little everyday. It's definitely versatile saw it reach 25k yesterday then drop to 14k. I'm learning to pull on a high then chuck back in at a low but sometimes I still lose if I misjudge the timing. Still fun but risky. I'm also mining Monero with 6x vega 56 very shortly which will allow me to make a little and maybe pump that back into BTC when it hits a low.
What were you smoking exactly when you saw it reach 25k and drop to 14k?
https://bitcoincharts.com/charts/btcmarketsAUD#rg5ztgSzm1g10…
lol my bad app i got can change between usd and aud still major drop on the 8th.
Where is the voting option for 'I used to trade but no longer?' 🙂
From personal experience I used to trade last year but since BTC (like all currency markets) is a 24/7 market there were nights where I feel asleep then the next morning I lost a few thousand dollars. Also more stress during the day by the the fact that's it's more volatile than traditional currencies.
Eventually made it back to a profit to fund a nice holiday but never again I'll trade BTC, I value my health and sleep.
Maybe if you plan to trade 24/7 and have a partner to monitor in 12 hours shifts it might work, but I'll stick to 9 to 5 shares instead.
I used Plus500 to invest in Bitcoin since my usual share trading positron didn't support it.
When you cashed out how did you deal with the tax situation?
My accountant did my tax return but I think it was classed as an asset with capital gains tax
I'm waiting here with my popcorn. Going to be fun to watch.
For me, I don't invest in anything that doesn't have some intrinsic rate of return. Shares pay dividends, house tenants pay rent, bonds pay coupon interest. Bitcoin has no intrinsic rate of return and therefore I will not invest. Might mean I miss out on some potentially amazing returns but I guess I'm also missing out on potentially amazing returns by not playing blackjack everyday.
Totally agree.
I believe in the blockchain technology but I don't believe in the value of bitcoin. If anyone can start their own cryptocurrency (ICO etc) then there is only a low value i personally can place on cryptocurrency.
When you can start buying more and more things with cryptocurrency then you will see it drop to reality as it will finally have a value
All the hype, news and comments are sounding very similar to the time when dot com was surging up. The mentality and excitement that what is happening will continue happening.
I had $150 sitting in a wallet from a while back. I kept putting off withdrawing it because I figured I'd use it eventually. For once my laziness and procrastination paid off - it's worth $1400 now. Still deciding whether I want to sell or buy more. I know literally nothing about investing, so it feels impossible to figure out what advice to take seriously.
Passive income:
1.buy Bitcoin
2.sleep
3 Wake up, realising that while Bitcoin may give you a capital gain, there is no Passive Income.
4 Go back to sleep, not having passive income is not necessarily a bad thing.
It all depends what the returns are, if it's $1million dollar, then there's a few ways. Lazy way, put in online savings 3% for $30k, $30k is not a lot these days but hey it's still passive income. Another way is buy two apartment/units, rent them out, returns might be better.
That is income from savings accounts and property not 'income' from Bitcoin, isn't it?
5 Wake up again, go and buy a masternode coin
6 Go back to sleep, with a passive income but knowing that not having one is not necessarily a bad thing.
Could someone in the know paste a link to explain what bitcoin would be used for - once all the shambolic gambling ends. Lets say for arguments sake bitcoin settles at $100,000 - and remains stable there (i.e. exhibits the same behaviour of established currencies) - what would I then buy a bit-of-a-bitcoin for?
It is a purely digital decentralised currency. Imagine travelling internationally and not having to convert your cash to whatever the local currency is. That's one of the reasons. See http://weusecoins.com/ for a video.
Sadly I suspect that bitcoin will struggle to ever be stable - people are buying/selling on the various markets trying to make money with bitcoin itself, and the amount of transactions are causing issues which in turn is further making the price of bitcoin vary wildly. Once the dust settles, it's more likely the second/third generation versions of digital currency will actually take off and be used - they won't have the taint of silk road etc that bitcoin has, will learn from and resolve the technical issues bitcoin has, and have other advantages. For example the ability to work with local regulators, create "smart contracts" and do all sorts of other pretty neat things. An example is Cardano - https://www.cardanohub.org/en/what-is-cardano/
most Antivirus software still blocking mining software anyway, so, nothing normal people can do even they continue up again and again.
A normal person can by a s9 miner. It's really not that hard
True, but factor in customs, shipping and 2month lead-time, power costs, and growth of bitcoin. Most peoplec are better off buying and holding the coin.
Less risk.
If anyone is buying pay in crypto not usd.
Incorrect on the customs, correct on the shipping (some of the time)
Many places send with customs pre-paid saving a stack.
I've got solar, and this is my current profitability rate - https://www.cryptocompare.com/mining/calculator/btc?HashingP…
Prices are in USD
Given most people are just in it for speculation I'm curious as to how realistic is it for people to basically cash out and get rich. Say had a 100 BTC from back in the few-cents days and you wanted to cash out 100 or just 50 of them. Are there people around who really would pay you 20 grand or whatever for each coin?
(As you can tell I'm not that versed in economics, just bargain hunting and AliExpress/Gearbest sub $2 transactions)
Yes people will buy them even if you placed a sell of 100 bitcoins, they will sell literally within minutes. Check out live bitcoin trading here https://bittrex.com/Market/Index?MarketName=USDT-BTC
Bitcoin is not like property bubble. Bitcoin value is based on exact supply demand and exact accurate math computation. The price is the real price. No bubble.
The property bubble was based on people actually needing and wanting what they were buying.
This is just based on people buying because they think another mug will be like them at a later date, only at an even higher price. Pure speculation purchase.
Actually that sounds a lot like many property buyers too :P.
Cos you won't ever get return on investment from renting out something that took a $1M loan.
But yeah at least a physical asset like property at least has a use if you're forced to hold it.
Nobody needs a $1m property in Sydney. It’s driven by the same desirability factor as gold and bitcoin. Housing ‘needs’ can be met by a $50,000 purchase in rural areas.
I work in the centre of Sydney. I want to live near the beach. So does everybody else. Ergo the price is high.
They are clearly not comparable.
But how many of the bitcoins people have bought on exchanges actually exist?
Bitcoins are a commodity whose only value is perception. Its not backed by anything. What could go wrong?
Next 10-12 days are going to be very excited and nerve wracking for Bitcoin Investors because of BC future contracts. https://www.ft.com/content/5ee5fda2-daa7-11e7-a039-c64b1c09b…
Well, if you have a look at this link - https://www.quora.com/Is-it-too-late-to-invest-in-bitcoin-Is…
I like this guy's answer - Charles Marino. This was what he said:
"The increase is absurd and is due to the news that the CBOE, CME and Nadsaq are all preparing bitcoin futures trading. There is also speculation that regulated futures will lead to ETFs. All of this means that institutional money will now be able to get a piece of the pie. everyone looks at Jamie Dimon
What happens after futures trading begins?
I believe that a lot more volatility will be introduced since u.s. investors will now be able to securely short on margin. I do not believe that “Wall Street” will short and then manipulate bitcoin to crash. Why? incentivisation. Institutional investors have a great opportunity to make money which I believe they will take full advantage of. This means lots of volatility and a future even more absurd market cap. I’m a firm believer of diversification and will consider realizing profits along the way but will be bullish for at least 2–4 months. I also believe that cryptocurrencies will break a trillion dollar market cap and bitcoin will reach 50k next year."
Definitely believe it will hit 50k mark next year.
It seems to be heading that way. The price is high relative to what it was (1 week, 1 month, 1 year?), but the upside seems to be so much higher. Of course, put in what you can afford to lose. And… HODL!
I only started with $500 and it's working well, i'm not a millionaire of course but it's a learning curve for me and i'm earning a little on the way doing it which i'm enjoying.
Of course Wall St will short it. Anything else is crazy talk.
Dunno bout BTC but I made about ~1300 today from Litecoin. Time for coke and hookers (just kidding guise I'm not a degenerate)?
Correct. First testing of this network is underway. It could render many alt coins obsolete. Or BTC could die. Who knows.