If you have a billion "dollars" in bitcoin........

https://www.theverge.com/2017/12/7/16745178/bitcoin-value-15000-milestone

"Bitcoin long ago stopped being useful for actually buying things (partly because of its rocketing value and partly because of achingly-slow transaction times), so the questions facing speculators are: is this a bubble? And if so, when will it burst?"


Gareck
So this thing has no real use now, it only exists as a sport now.

Posted on Dec 7, 2017 | 6:53 AM
Acryion
You can buy Bitcoin and you can cash-in Bitcoin.

The only reason to buy Bitcoin is to sell Bitcoin.

Posted on Dec 7, 2017 | 7:embarrassed:7 AM
 
N...Which leaves the actual US dollar which is no longer backed by silver or gold, but it is tied to the health of the country....

Like I said.

Ask a Mexican how that "health of the country" thing worked out for them when their pesos became worth 1/10 what they were the day before.
 
The bitcoin I bought at this time yesterday is now worth $60 more than it was when I bought it.
 
But I also realize that I could check it again in ten minutes and find that it's worthless.
 
So it sounds about like penny stocks, or some other form of investment that to me, and my situation, feels like gambling. And the value of my time to learn how to succeed with it, monitor changes, and handle the transactions, make it not worth it to me. But I have low risk tolerance in that regard. YMMV.
 
Up $80 now.
How much did you have to buy/invest to get $80 increase in one day? Like others have said, this really looks like a bubble that is about to burst, so hopefully not too much.

When it comes to selling, how does that work?
 
How much did you have to buy/invest to get $80 increase in one day? Like others have said, this really looks like a bubble that is about to burst, so hopefully not too much.

When it comes to selling, how does that work?
I put in $240. It's now at $335. I think if it goes much higher I might cash out. If I can make a quick hundred bucks in a day or two for doing nothing that'd be cool.

But if it keeps going up I'll feel like an idiot for cashing out, too.
 
I put in $240. It's now at $335. I think if it goes much higher I might cash out. If I can make a quick hundred bucks in a day or two for doing nothing that'd be cool.

But if it keeps going up I'll feel like an idiot for cashing out, too.
Yeah, that's true of pretty much any investment. It seems somewhat obvious that this trend cannot be sustained. That being said, I really wish I'd have bought into it last year.

upload_2017-12-7_11-51-50.png
 
I'd recommend a documentary on Netflix on the subject (can't remember the name). It was interesting and informative.
 
Wow! Good for you.

Do you have some friends who told you about it and/or some knowledge on the subject? I have been considering Ripple in that realm.
Sorry I missed this. Not to make this political, but I’m a member of the Libertarian party and we tend to be up on this type of thing more than the general population. I bought quite a few at the price and never sold them. At the time I was hoping they would go up $100 or so. :embarrassed:
 
I remember stumbling on bit coin when I was building an array of graphics card processor boxes for structural biology work. A lot of the UNIX code to wire shit like this together for software was for home mining efforts, mostly as LINUX freeware. I remember reading something about the idea and why these people wanted graphics cards for mining (and it was the same reason we used and still use them for number crunching power), but I never really thought it was worth doing as bitcoin wasn't really anything of any real value to me, and I didn't really get the point of it or why the whole blockchain thing worked. Once it became a thing it was too expensive and volatile for me to care. Now it seems to only serve the purpose to invest in as a speculative market kind of thing, so I'm even less interested.
 
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