Thread: Bitcoin

Originally Posted by bmneveu

$8,200 Bitcoin. Should I buy more? Hmm...

Until cryptos show any continued strength or discernible patterns, I am not putting any more money into them. Too volatile... I will either lose it all or gain back the 75% lost (requiring a 400% rise)... hodl

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It's getting ugly out there. I still have faith though.

Originally Posted by RealMoneyIssues

Until cryptos show any continued strength or discernible patterns, I am not putting any more money into them. Too volatile... I will either lose it all or gain back the 75% lost (requiring a 400% rise)... hodl

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In for more at $7,177.

Me too. I just bought 0.50 BTC near $7000. The rest rest of my account is in ethereum, getting hammered with the rest of them.

Here we go.

Bitcoin drops below 6,880.


Here is some of the reason why:

" In the latest blow, J.P. Morgan Chase, Bank of America and Citigroupsaid Friday that they decided not to allow customers to buy cryptocurrencies with the companies' credit cards.
That followed reports last week that increased worries about potential price manipulation at Bitfinex, one of the largest cryptocurrency exchanges in the world. The Commodity Futures Trading Commission on Dec. 6 subpoenaed Bitfinex and a digital coin company called Tether, run by many of the same people as the exchange, Bloomberg reported, citing a source. The New York Times said Wednesday that a person familiar with the matter also affirmed the report. The CFTC declined to comment to CNBC. A representative for Bitfinex and Tether had no further comment."

I'm glad I am not in "Crypto currency" . An old very wise man once imparted to me-"if you can't figure out how they make their money, stay away, cause it's too complicated to understand and could very well be a way to separate you from your money."

More:
https://www.cnbc.com/2018/02/05/cred...r-bitcoin.html

As for the banks no longer allowing people to use credit cards to buy crypto...... When was the last time a bank let you use a credit card to buy stocks? Absolutely no difference and it is a non-issue. But make no mistake, the banks are scared to death of crypto because they know it will be the end of them. Banks are terrified of this new movement, as they should be.

When this correction is over, buy you some Ethereum and Cardano and hold it. Those are the best two to buy to invest in the blockchain. Or internet 2.0 if you will.
Blockchain is the future. No doubt about it.

I've been loading up on Bitcoin and Cardano. I agree with you on Ethereum, but I see appx 100% return in a Bitcoin bounceback, whereas Ethereum has something like a 50% return possibility. I am playing Bitcoin for the medium term bounce, but I will be investing in Ethereum soon for the long haul. Cardano at $0.30 is just silly to pass up. It could easily triple in a few months. Easily.

Originally Posted by 1965Vintage

As for the banks no longer allowing people to use credit cards to buy crypto...... When was the last time a bank let you use a credit card to buy stocks? Absolutely no difference and it is a non-issue. But make no mistake, the banks are scared to death of crypto because they know it will be the end of them. Banks are terrified of this new movement, as they should be.

When this correction is over, buy you some Ethereum and Cardano and hold it. Those are the best two to buy to invest in the blockchain. Or internet 2.0 if you will.
Blockchain is the future. No doubt about it.

Originally Posted by 1965Vintage

As for the banks no longer allowing people to use credit cards to buy crypto...... When was the last time a bank let you use a credit card to buy stocks?

Exactly my point.

Originally Posted by 1965Vintage

Absolutely no difference and it is a non-issue.

Actually, it'll make a huge difference to those who have been (and would have continued) buying cryptos with credit cards.

Originally Posted by bmneveu

I've been loading up on Bitcoin and Cardano. I agree with you on Ethereum, but I see appx 100% return in a Bitcoin bounceback, whereas Ethereum has something like a 50% return possibility. I am playing Bitcoin for the medium term bounce, but I will be investing in Ethereum soon for the long haul. Cardano at $0.30 is just silly to pass up. It could easily triple in a few months. Easily.

I thought Ripple was supposed to be the future of crypto?!? What about Litecoin?

They all serve different purposes for now, but who knows. One may emerge as the one coin to rule them all. Banks use Ripple for quick and cheap transactions. Ethereum created the "smart contract" technology that damn near every new token created these days are based on. Litecoin is just a faster and cheaper Bitcoin, but it might get phased out if it doesn't continue to evolve because Bitcoin is getting faster and cheaper with the Lightning Network and SegWit implementations. Cardano is referred to as Blockchain 3.0, the team focused on tomorrow when everyone else is focused on today. This video from IOHK's CEO Charles Hoskinson (the company contracted to develop Cardano) explains it well: https://www.youtube.com/watch?v=Ja9D0kpksxw

Charles co-created Ethereum. His new passion is Cardano. I'm betting on Charles.

Originally Posted by uscfanhawaii

I thought Ripple was supposed to be the future of crypto?!? What about Litecoin?

As Bitcoin Bubble Loses Air, Frauds and Flaws Rise to Surface

By NATHANIEL POPPERFEB. 5, 2018


SAN FRANCISCO — You did not have to be a technophobe to worry that the virtual-currency boom of the past year papered over plenty of problems.
The scale of those problems is starting to become clear as digital tokens have slid more than 50 percent in value from their peaks in early January, with steep drops on Monday pushing the value of Bitcoin specifically below $7,000.
Hackers draining funds from online exchanges. Ponzi schemes. Government regulators unable to keep up with the rise of so-called cryptocurrencies. Signs of trouble have appeared at nearly every level of the industry, from the biggest exchanges to the news sites and chat rooms where the investment frenzy has been discussed.[more]

https://www.nytimes.com/2018/02/05/t...egulation.html