Do You BitCoin?

[Foxx]

lol, it's not going away anytime soon.

 

they said the sam thing about the internet at one time....

Edited November 6, 2017 by Foxx

[TheElectricCompany]

6 hours ago, Foxx said:

lol, it's not going away anytime soon.

 

they said the sam thing about the internet at one time....

I don't think cryptocurrency is understood by the masses, and that fuels the "it will collapse soon" narrative, regardless if it's true of false. 

[row_33]

Because the internet survived it means everything else will?  

[Foxx]

25 minutes ago, mead107 said:

Still have a few Meadcoins left

when I started this thread, BTC was $1200. today it is at $8219. an increase of almost 600%. where else would you have gotten that kind of return?

 

next stop... 5 figures by '18. mark it down.

Edited November 25, 2017 by Foxx

[plenzmd1]

On 11/6/2017 at 5:19 PM, TheElectricCompany said:

I don't think cryptocurrency is understood by the masses, and that fuels the "it will collapse soon" narrative, regardless if it's true of false. 

I pride myself on keeping up with trends, especially tech trends, but I readily admit i don't understand bitcoin

51 minutes ago, Foxx said:

when I started this thread, BTC was $1200. today it is at $8219. an increase of almost 600%. where else would you have gotten that kind of return?

 

next stop... 5 figures by '18. mark it down.

this is why I am going to start doing whatever I can to understand!

 

Just as a word of caution, valuation does not equal worth.as mention, i have no clue on this stuff, but tulip bulbs  once fetched $1200 a piece, not that the intrinsic value was ever there 

[Augie]

7 minutes ago, plenzmd1 said:

I pride myself on keeping up with trends, especially tech trends, but I readily admit i don't understand bitcoin

this is why I am going to start doing whatever I can to understand!

 

Just as a word of caution, valuation does not equal worth.as mention, i have no clue on this stuff, but tulip bulbs  once fetched $1200 a piece, not that the intrinsic value was ever there 

 

But tulips are quite lovely and I plan to plant some bulbs when it’s time. My wife loves them. I’d split your investment between the two. There may be a comeback? 

 

That bulb bubble was maybe the silliest ever? But at least you got something real.....  I won’t put down anything I️ don’t understand. 

DARN! Why is the “I” thing messed up AGAIN? 

Edited November 25, 2017 by Augie

[Foxx]

18 minutes ago, plenzmd1 said:

...  I am going to start doing whatever I can to understand! ...

one of the very first things you need to do is to forget a fiat valuation. it is imperative that you start to think think in a crypto valuation. fiat valuations are only good for getting into and out of crypto and other than that, they are meaningless inside the cryptosphere. understand what i am saying here... fiat valuation is currently important because most of the world revolves around the USD and it's worth as a global reserve. however, what I am telling you is that as the world transistions it will be very important to understand valuation in crypto terms.

 

worth... you can't afford to not get involved. this is the last stages of the innovators phase. the next phase is to be the early adopters. after that... all hell breaks loose. 

 

 

11 minutes ago, Augie said:

 

But tulips are quite lovely and I plan to plant some bulbs when it’s time. My wife loves them. I’d split your investment between the two. There may be a comeback? 

 

That bulb bubble was maybe the silliest ever? But at least you got something real.....  I won’t put down anything I️ don’t understand. 

DARN! Why is the “I” thing messed up AGAIN? 

something real? Shirley you aren't referring to all those 1s and 0s that your bank has in it's privately held ledger are you? you know, the privately held ledger that they add to by creating those 1s and 0s out of thin air. not that real thing, right?

Edited November 25, 2017 by Foxx

[Augie]

Warren Buffet understands Dairy Queen. I get that concept too. 

[plenzmd1]

6 minutes ago, Foxx said:

one of the very first things you need to do is to forget a fiat valuation. it is imperative that you start to think think in a crypto valuation. fiat valuations are only good for getting into and out of crypto and other than that, they are meaningless inside the cryptosphere. understand what i am saying here... fiat valuation is currently important because most of the world revolves around the USD and it's worth as a global reserve. However What I am telling you is that as the world transistions it will be very important to understand valuation in crypto terms.

 

 

4

I am going to PM you tomorrow, sleepy tonight, and will gladly pay you in fiat valuations for a lesson in crypto valuation, and yes I am serious.

[Augie]

3 minutes ago, plenzmd1 said:

I am going to PM you tomorrow, sleepy tonight, and will gladly pay you in fiat valuations for a lesson in crypto valuation, and yes I am serious.

 

If you can dumb it down and translate for me, I’m open to learning. 

[Foxx]

FOMO and FUD are two very real things that will rock your world. the first you have to understand what it is and why your experiencing it. the latter, you have to understand what it is and why your experiencing it.

 

as with any speculation, you should only put in what you are completely comfortable losing. do not put your house mortage payment in because of FOMO, you will lose.

 

 

4 minutes ago, Augie said:

 

If you can dumb it down and translate for me, I’m open to learning. 

as i have since i started this thread, i will try and answer, to the best of my abilites and knowledge, any and all questions.

 

there are no dumb questions, only stupid answers.

Edited November 25, 2017 by Foxx

[BuffaloBill]

On 11/2/2017 at 6:29 PM, Foxx said:

Bitcoin shot right through the $7k level today. it's intraday high was $7299, about 7am Edt. it has sloshed back and forth a bit and is now hovering around the $7k mark.

 

5 figures here we come!

 

 

To me it is a speculative market.  In a way all currency, options, commodities, stocks or bonds are speculative.  However in the latter the markets and rules, formal or informal, are for more developed.  Personally, I’d much rather invest in more established markets.

[Foxx]

8 hours ago, mead107 said:

Who started bitcoin and what backs it up or is it really meaningless and just floating around on internet? 

Satoshi Nakamoto created Bitcoin. who he is, is not really known. he has never been seen and disappeared shortly after Bitcoins creation. it has been speculated, by some that Nakamoto was really Alan Greenspan. i don't know if we will ever really know he is is/was. the wallet with the genesis block contents, assumed to be Nakamotos, remains untouched to this day.

 

what backs bitcoin is ultimately the same exact thing that backs the USD. faith (in the USD case though, to be sure ,the threat of voilence is equally backing it). it could be argued and quite convincingly i might add that, the USD is really meaningless and just floating around on the internet.

 

 

[billsfanmiami(oh)]

21 hours ago, Augie said:

 

If you can dumb it down and translate for me, I’m open to learning. 

 

 

Ditto. I remember thinking a few years ago that this whole thing sounded completely insane. Now you see stuff about major financial outlets offering bitcoin futures. I still don’t fully understand it, but I’m definiely intrigued by it and am open minded. Would definiely like to be edumacated on it some more. 

[Augie]

 

 

I’m open to learning. I’m generally curious.  But I seriously doubt I’m open to Bitcoin. We are pretty conservative, both coming with financial/wealth management backgrounds. 

[Foxx]

10 hours ago, Augie said:

 

 

I’m open to learning. I’m generally curious.  But I seriously doubt I’m open to Bitcoin. We are pretty conservative, both coming with financial/wealth management backgrounds. 

if you really are open to learning, you will find the following enlightening. keep an open mind and listen to the entire thing.

 

 

Bitcoin just hit it's ATH overnight, $9100. 

Edited November 26, 2017 by Foxx

[BeginnersMind]

Places you might not want to get your investing advice? 

 

Twobillsdrive.

 

 

 

 

[Foxx]

2 hours ago, BeginnersMind said:

Places you might not want to get your investing advice? 

 

Twobillsdrive.

 

 

 

 

right. who in their right mind would want a return of over 600% since April. crazy talk!

[ExiledInIllinois]

25 minutes ago, Foxx said:

right. who in their right mind would want a return of over 600% since April. crazy talk!

Not everybody.  Its like a pyramid. More get in, few on top win.

 

No thanks.  I will labor & toil  the old fashioned way... With axe and shovel.

[PolishDave]

My question is who thinks that the USA and all other major countries are not going to outlaw all of the popular and unregulated cryptocurrencies?

 

Won't they be forced to?

 

And what is that going to do to the value of those cryptos?

 

And within what time frame are these countries going to actually outlaw them?

2 minutes ago, ExiledInIllinois said:

Not everybody.  Its like a pyramid. More get in, few on top win.

 

No thanks.  I will labor & toil  the old fashioned way... With axe and shovel.

 

It's not like that though.   That is a bad analogy.     It is simply a form of currency that is in the midst of a parabolic rise in value.   It can go up or down in value just like the  US dollar.   Right now Bitcoin is in a parabolic rise which is why it has so much publicity lately.