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Thread: Bitcoin

  1. #73

    Default Re: Bitcoin

    I own just 2.3 bitcoin at an average price of $955 per coin.

    FYI, it just dropped $200 off its intraday high near $2300. Currently about $2140.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

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  3. #74

    Default Re: Bitcoin

    Uh, oh... CNBC is talking about bitcoin and uscfanhawaii is now considering buying. Could that be the sign of a top?

    j/k

    ... but it is down 10% from this morning's peak.


    Source: Stock Market Sentiment Research - sentimenTrader
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

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  5. #75

    Default Re: Bitcoin

    so i read an article on cnbc and it said if i had bought $100 of bitcoin 7 years ago that i would have $75 million now.

    just exactly how would i go about monetizing that $75 million and getting it into a bank and buy my rock star party bus? how many digital wallets would i need? how would i keep two dozen 30 digit hexadecimal cryptokeys straight? how i would i make this into real money?

    that is the part i don't understand. my computer regularly locks up and crashes, prolly cause all the porn i sometimes watch. what to do about that? ain't gonna quit watchin porn i can tell you that much.
    100g

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  7. #76

    Default Re: Bitcoin

    Quote Originally Posted by k0nkuzh0n View Post
    Based on what? How exactly do calculate the value of a bitcoin today, let alone at years end?
    I am a slow typer so I can't write down everything I have learned in the past few months of researching Bitcoin and Blockchain.

    But here is what I know:

    There is a limit to how many Bitcoin that can be mined. It's 21 million.
    There are 16.9 million now.
    There are 7+ Billion people in this world. (You can do all kinds of math with that)

    Japan recognized BTC as a legal currency. They even Insure it in bank deposits now.
    July 1 Australia is going to do the same thing.
    That is just two countries out of how many? What are there, like 800 countries? I have no idea but it's a lot. And as each one starts using Bitcoin for transactions, and they will they price will rise. Why? Because there are only ever going to be 21 million.

    The more people that buy Bitcoin, the more the price goes up.
    Bill Gates believes it will be a million before it levels out and is in use by the majority of the world for financial transactions. I do too.

    Here: Do a little reading up on what it is and what it is capable of.
    Why use bitcoin? - CoinDesk

    Right now you and I are discussing it. All over the world the same thing is going on. But so far only about 10% of the entire world population has even even heard of Bitcoin. Only 2% are using it so far. Imagine what will happen as those numbers grow! It is going to be unlike anything the world has ever seen. Bigger than any one invention.
    It gives the people back power over their own finances.
    These are exciting times.

    Of course to understand what makes all this work you need to understand Blockchain.

    But you don't have to understand it to use it. And one day you will use it. Just like we use Paypal now. And Credit Cards. We will all use Bitcoin. By the time the majority of people are using it the price will be more stable and likely in the hundreds of thousands. Of course to those people the price wont matter because it will be stable.

    But those of us who learn about it early and buy some early and just hold it. Well, we are going to be sitting pretty! Even a few hundred dollars invested now could and should be worth a heck of a lot in 10 or 15 years when it is mainstream and has reached its stable price.

    Oh, and don't listen to the people saying the banks are going to "stop it". They cant. That's the genius of it. This is a "Bank killer!"
    Bitcoin gives people back the power over their money. Once everyone figures that out. Everyone will want to use it for their transactions.
    And it is starting now.

    So how do I value it? How do I think $7,000 to $9,000 is possible by years end? Because I fully expect the "he told two friends, and they told two friends" system to work and drive the price that high by then. But it is just a guess. But a lot of people a whole lot smarter than me think the same thing.

    Like Bill Gates.


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  9. #77

    Default Re: Bitcoin

    ha! so it is like digital iron pyrite then? fool's gold?

    and the commercial was for breck shampoo "she told two friends and they told two friends" the blonde 1980's girls just kept multiplying on the cathode ray tube. now between breck shampoo and the jc penney xmas catalog, that is how i pretty much learned sex education. which probably explains a lot, but i'm not getting into that part of the equation. i still don't understand the day to day practical use of it, it is not something you can have and hold? that takes a lot of faith. nobody even knows who really invented it?
    100g

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  11. #78

    Default Re: Bitcoin


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  13. #79

    Join Date
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    Default Re: Bitcoin

    OK, so I watched the Bitcoin video. Looks like it was from 2016, and its prediction for 2017 is already coming true.
    The video said a Bitcoin ETF would be out soon. Has it already come out? Is that the best way to buy Bitcoin?
    There are 10 types of people in the world. Those who know binary, and those that don't!!
    Retired on December 31, 2018!!

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  15. #80

    Default Re: Bitcoin

    The SEC rejected the bitcoin ETF. The government doesn't really care for bitcoin.

    https://www.forbes.com/forbes/welcom...ww.google.com/

    As 1965Vintage mentioned, you can buy GBTC and get some bang for your buck based on the price of bitcoin.
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

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  17. #81

    Default Re: Bitcoin

    Quote Originally Posted by tsptalk View Post
    Uh, oh... CNBC is talking about bitcoin and uscfanhawaii is now considering buying. Could that be the sign of a top?

    j/k

    ... but it is down 10% from this morning's peak.
    So much for the 10% pullback, which lasted one day. New highs tonight.

    $2,311.22
    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.


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  19. #82

    Default Re: Bitcoin

    Quote Originally Posted by tsptalk View Post
    As 1965Vintage mentioned, you can buy GBTC and get some bang for your buck based on the price of bitcoin.
    Geez, GBTC is up $88 so far today or 30%.

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.

  20.  
  21. #83

    Join Date
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    Location
    Aiea, Hawaii
    Posts
    1,122

    Default Re: Bitcoin

    OUCH!!
    There are 10 types of people in the world. Those who know binary, and those that don't!!
    Retired on December 31, 2018!!

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  23. #84

    Default Re: Bitcoin

    When the government recognizes bitcoin as a form of currency the Fed will regulate it. It's in the statutes and that is what is scary? have a few gold coins, silver, bonds etc. this is no different but has mega potential. Just have to trust the miners and who you gonna call when a 12 year old Russsian hacker stills your precious coins? Credit cards hacked I can make a call etc. if they reach the max coins mined will there be a bitcoin 2.0? Maybe it's best to ask my 9 year old as these kids have it figured out. We have several bitcoin ATMs in our area.

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