Bitcoin. Any experts/owners?

[65fastback2plus2]

Speculator I see. The highest risk type investor.

Live by the sword, die by the sword.

Its not speculation if you pay attention and put pieces together.

I've been telling people BCH for a few weeks.

Lets review:

1) Roger Ver, Mr. Bitcoin, has divested most of his bitcoin and picked up bitcoin cash
2) Bitmain, the worldwide supplier of bitcoin mining computers has moved to ONLY take payment via bitcoin cash.
3) Coinbase, the #1 exchange for bitcoin, said back in august, they were adding bitcoin cash by the end of the year.
http://www.businessinsider.com/coinbase-adding-support-for-bitcoin-cash-by-2018-2017-8

All of that adds up to: Bitcoin cash will see a major spike in value.

 

[YosemiteSam]

Its not speculation if you pay attention and put pieces together.

I've been telling people BCH for a few weeks.

Lets review:

1) Roger Ver, Mr. Bitcoin, has divested most of his bitcoin and picked up bitcoin cash
2) Bitmain, the worldwide supplier of bitcoin mining computers has moved to ONLY take payment via bitcoin cash.
3) Coinbase, the #1 exchange for bitcoin, said back in august, they were adding bitcoin cash by the end of the year.
http://www.businessinsider.com/coinbase-adding-support-for-bitcoin-cash-by-2018-2017-8

All of that adds up to: Bitcoin cash will see a major spike in value.

What? You believe that proves any cryptocurrency as a solid investment? If that is all it takes to prove anything to you...

SOLID tangible evidence. Not foolish hype and suckers going all in (a gambling term, not an investment term. Extremely important difference) is proof that something is a valid investment.

 

[65fastback2plus2]

What? You believe that proves any cryptocurrency as a solid investment? If that is all it takes to prove anything to you...

SOLID tangible evidence. Not foolish hype and suckers going all in (a gambling term, not an investment term. Extremely important difference) is proof that something is a valid investment.

That is the evidence that bitcoin cash was going to see a significant rise in price.

Now, if you want investment proof of cryptocurrency, then I can provide that as well, but that wasnt what my post was addressing.

 

[basstapp]

People say bitcoin isn't backed by anything, but the USD is super inflated as well.

 

[YosemiteSam]

People say bitcoin isn't backed by anything, but the USD is super inflated as well.

What people say is bitcoin isn't backed by anything, but neither is the US dollar. That being the US dollar was linked to gold, but that link was broken in 1972. So while in that view it is technically true. The US dollar is backed by the US government. Bitcoin is not.

Sort of like US Treasury securities are considered the most sound investment even though they do not have the highest return on investment. The reason is, they are guarenteed by the US government. Stocks, corporate bonds, etc are not. Corporations default and you lose!

So back to bitcoin. Dollars and treasury securities are backed by the US government. Stocks and corporate bonds are backed by corporations. Bitcoin is backed by absolutely nobody. Sound like a frightening place to put your hard earned money? There is a reason for it.

 

[basstapp]

What people say is bitcoin isn't backed by anything, but neither is the US dollar. That being the US dollar was linked to gold, but that link was broken in 1972. So while in that view it is technically true. The US dollar is backed by the US government. Bitcoin is not.

Sort of like US Treasury securities are considered the most sound investment even though they do not have the highest return on investment. The reason is, they are guarenteed by the US government. Stocks, corporate bonds, etc are not. Corporations default and you lose!

So back to bitcoin. Dollars and treasury securities are backed by the US government. Stocks and corporate bonds are backed by corporations. Bitcoin is backed by absolutely nobody. Sound like a frightening place to put your hard earned money? There is a reason for it.

Yea I was saying that in a sarcastic tone. I see crypto currencies as a short term investment or shall I say gamble. If you play it right, you can retire early

 

[YosemiteSam]

Yea I was saying that in a sarcastic tone. I see crypto currencies as a short term investment or shall I say gamble. If you play it right, you can retire early

Exactly. That was my point earlier in this thread. Cryptocurrency isn't investing. It's gambling. Investing is when you put your money where solid fundamentals exist. Everything else (including speculating on what stocks will do) is nothing more than gambling and gambling has too much risk to to be using your life savings with. You only use what is referred to as mad money. (money that you are okay with parting with)

When you see stocks trending, but their fundamentals do not support the increase in price. People are speculating. This is how bubbles occur and life savings vanish.

 

[Them]

What is Bitcoin and what do I do with it?
Talk about Bitcoin is circulating like crazy. Some people say to invest in it now, while others are saying it’s too late. Bitcoin is a fascinating currency because it’s completely virtual, but what makes it worth investing in? And what’s the point of having digital money instead of physical money? Check out this Bitcoin 101 video to learn more.

 

[65fastback2plus2]

What people say is bitcoin isn't backed by anything, but neither is the US dollar. That being the US dollar was linked to gold, but that link was broken in 1972. So while in that view it is technically true. The US dollar is backed by the US government. Bitcoin is not.

Sort of like US Treasury securities are considered the most sound investment even though they do not have the highest return on investment. The reason is, they are guarenteed by the US government. Stocks, corporate bonds, etc are not. Corporations default and you lose!

So back to bitcoin. Dollars and treasury securities are backed by the US government. Stocks and corporate bonds are backed by corporations. Bitcoin is backed by absolutely nobody. Sound like a frightening place to put your hard earned money? There is a reason for it.

So I talk about bitcoin, you yammer on about cryptocurrencies. I move to talk about cryptocurrencies and you move back to talk about bitcoin lol. Make up your mind.

Yes, the US dollar is backed by the almighty printing press of the US government. So basically, its backed by unlimited inflation.

Bitcoin, is limited to 22,000,000 coins, approximately. Why are people paying $15k for one? The reverse of inflation. Limited supply, and a supply not manipulated by the US government.

 

[65fastback2plus2]

Its 2017, the US dollar is already almost fully a digital currency anyhow. Who carries it around? Next to nobody.

 

[YosemiteSam]

The term bitcoin is like the term coke. It's both a proper noun and a common noun for cryptocurrency.

 

[65fastback2plus2]

The term bitcoin is like the term coke. It's both a proper noun and a common noun for cryptocurrency.

If thats the case (even though you explicitly went back and forth to use both) then you obviously dont understand use cases for cryptocurrencies. There are cryptocurrencies and subsequent ledger systems currently in use by over 100 banks worldwide and they use them to transfer hundreds of millions of currency quickly, efficiently, and save over 30% in traditional transaction fees.

But ya, they're useless...I mean, why would huge massive banks sign on to use what are basically pieces of virtual toilet paper?

 

[Them]

Its 2017, the US dollar is already almost fully a digital currency anyhow. Who carries it around? Next to nobody.

I do carry a few coins around....unbit of course!

 

[YosemiteSam]

If thats the case (even though you explicitly went back and forth to use both) then you obviously dont understand use cases for cryptocurrencies. There are cryptocurrencies and subsequent ledger systems currently in use by over 100 banks worldwide and they use them to transfer hundreds of millions of currency quickly, efficiently, and save over 30% in traditional transaction fees.

But ya, they're useless...I mean, why would huge massive banks sign on to use what are basically pieces of virtual toilet paper?

The fees are coming, along with the other thing cryptocurrency was supposed to do away with. Credit.

Idiots are taking mortgages out to buy bitcoin. rofl, Suicide in waiting.

 

[DoctorChicken]

Its not speculation if you pay attention and put pieces together.

I've been telling people BCH for a few weeks.

Lets review:

1) Roger Ver, Mr. Bitcoin, has divested most of his bitcoin and picked up bitcoin cash
2) Bitmain, the worldwide supplier of bitcoin mining computers has moved to ONLY take payment via bitcoin cash.
3) Coinbase, the #1 exchange for bitcoin, said back in august, they were adding bitcoin cash by the end of the year.
http://www.businessinsider.com/coinbase-adding-support-for-bitcoin-cash-by-2018-2017-8

All of that adds up to: Bitcoin cash will see a major spike in value.

Roger Ver, the guy who owns Bitcoin.com, a bcash website, owns BCash?

The very same Robert Ver who calls Bitcoin Cash “the real bitcoin”, misleading new users?

The same Roger Ver who said “insider trading isn’t a crime”?

Roger Ver is saying all those things for one reason - he wants Bcash, a bitcoin ripoff, to be the #1 dog. Because that would make him a billionaire.

 

[65fastback2plus2]

The fees are coming, along with the other thing cryptocurrency was supposed to do away with. Credit.

Idiots are taking mortgages out to buy bitcoin. rofl, Suicide in waiting.

being foolish with any investment is suicide. Thats not special to crypto.

 

[65fastback2plus2]

Roger Ver, the guy who owns Bitcoin.com, a bcash website, owns BCash?

The very same Robert Ver who calls Bitcoin Cash “the real bitcoin”, misleading new users?

The same Roger Ver who said “insider trading isn’t a crime”?

Roger Ver is saying all those things for one reason - he wants Bcash, a bitcoin ripoff, to be the #1 dog. Because that would make him a billionaire.

I list 3 things and you can only respond to 1.

Bcash is 4 times faster than btc...that alone is enough to move from btc to bch

 

[YosemiteSam]

being foolish with any investment is suicide. Thats not special to crypto.

I find any trading on margin (or any form of credit like taking morgages to buy bitcoin / stocks) psychotic. It's just like gamblers who make bets on credit. Why in hell would you do something like that.

I hope nobody bought cryptocurrency recently. It looks like they are almost all of them are down from 20%-40+% Sounds like people are trying to lock-in their gains before the new year.

Speaking of. So the government can't track cryptocurrency, but what they can do is track your bank account. These guys selling off their cryptocurrency have to transfer that money somewhere that can be tracked. Does that mean they will have to pay capital gains taxes on their windfall? I'm sure it does.

Another linchpin of the strength (tax free) of cryptocurrency shot down. If you actually want to use it for everyday life. You must first convert it to cash and that will wake the sleeping giant. (The IRS)

 

[65fastback2plus2]

I find any trading on margin (or any form of credit like taking morgages to buy bitcoin / stocks) psychotic. It's just like gamblers who make bets on credit. Why in hell would you do something like that.

I hope nobody bought cryptocurrency recently. It looks like they are almost all of them are down from 20%-40+% Sounds like people are trying to lock-in their gains before the new year.

Speaking of. So the government can't track cryptocurrency, but what they can do is track your bank account. These guys selling off their cryptocurrency have to transfer that money somewhere that can be tracked. Does that mean they will have to pay capital gains taxes on their windfall? I'm sure it does.

Another linchpin of the strength (tax free) of cryptocurrency shot down. If you actually want to use it for everyday life. You must first convert it to cash and that will wake the sleeping giant. (The IRS)

2nd mortgaging your home is indeed stupid. But a little margin doesnt hurt, esp if its covered.

I just bought some more crypto this morning...market falls just mean discounts

There are tons of ways around the tax portion. But the goal is for places to accept it as payment and skip the government altogether.

Microsoft, Subway, Overstock.com, Newegg, etc. are places that you can buy stuff with bitcoin, for example.

 

[Denim Chicken]

Bitcoin Plunges Below $13,000 as Selloff Enters Day 4

http://fortune.com/2017/12/22/bitcoin-selloff-13000-day-4/