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

Discussion in 'Jack's Place' started by DdBob, Dec 6, 2017.

    Dec 7, 2017
  1. DdBob Dogue in teh desert


    "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?"

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

    Posted on Dec 7, 2017 | 6:53 AM
    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 | 7:07 AM
  2. Dec 7, 2017
  3. GomezAddams Wandering and wondering

    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.
  4. Dec 7, 2017
  5. smurfco I'm Mr. Bulldops

    The bitcoin I bought at this time yesterday is now worth $60 more than it was when I bought it.
  6. Dec 7, 2017
  7. smurfco I'm Mr. Bulldops

    But I also realize that I could check it again in ten minutes and find that it's worthless.
  8. Dec 7, 2017
  9. 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.
  10. Dec 7, 2017
  11. smurfco I'm Mr. Bulldops

    Up $80 now.
  12. Dec 7, 2017
  13. shoeless Kick Henry Jackassowski

    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?
  14. Dec 7, 2017
  15. jp_nyc Kick Henry Jackassowski

    Bitcoin went up $4,000 yesterday. This is getting silly.
    Help!I'maRock! likes this.
  16. Dec 7, 2017
  17. smurfco I'm Mr. Bulldops

    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.
  18. Dec 7, 2017
  19. shoeless Kick Henry Jackassowski

    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.


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