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Thread: Crypto Currency

  1. #46
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    Default Re: Crypto Currency

    New highs earlier today.

    8K some resistance though.

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    Default Re: Crypto Currency

    Quote Originally Posted by blayze View Post
    Can't wait for this bubble to pop... nothing more satisfying than seeing speculators lose their shirts
    LOL why?

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    Default Re: Crypto Currency

    It would be interesting to see it pop and what it does, but hopefully Mr. Guru doesn't have anything invested at that point.
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    Default Re: Crypto Currency

    I currently have everything in Bitcoin Cash....and up about 10%....if Bitcoin breaks 8K I'll transfer everything back to BTC and ride the wave to 10k.

    It's a juggling act right now since it's so volatile.

    I try to buy at the dips and either convert to USD or BCC whenever BTC looks to have topped. Making money on both Bitcoins upswings and downswings.

    The only problem is when Im away from the computer for a couple days. Transferring everything or the majority of your investment to USD is safe when you have no internet access.

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    Default Re: Crypto Currency

    Quote Originally Posted by Mr. Guru View Post
    Ripple taking a beating. I tried trading Ripple a few weeks ago and lost about 10%.

    Im holding a few alt coins at the moment too. $QTUM, $VERT, $RISE, $OMG, $POT
    Ripple is a long term hold... the technology is there and is a slow burner, once they get more banks to adopt their technology, it should pick up some pace... If you're after short-term profits then go with the alt coins... You just need to know when to get out with them. At the end of the day you're putting money into something that's not tangible and really has no value. At least bitcoins you can use it to purchase something, where as you can't go into a shop and spend OMG or ETH for that matter.
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    Default Re: Crypto Currency

    Is there anything illegal about buying bitcoin? I am thinking of buying some as a small investment. If Bitcoin goes to $1,000,000 then a $500 investment now might be profitable .... but would it ever get that high?

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    Default Re: Crypto Currency

    Quote Originally Posted by StuntMan12 View Post
    Is there anything illegal about buying bitcoin? I am thinking of buying some as a small investment. If Bitcoin goes to $1,000,000 then a $500 investment now might be profitable .... but would it ever get that high?
    There are currently no legal or tax ramifications. From a legal side, that could change. If the US just decides to legislate it and say it's illegal, well there goes Bitcoin. That's unlikely though, considering Bitcoin is just a coin, and the technology of blockchain is getting ingrained everywhere in society. Much more likely is that both the US and Canada will legislate tax ramifications (capital gains) into it, so you'll just have to pay tax on your return whenever you sell.

    As for the valuation, is it possible? Sure, theoretically. Do I think it will get there? Not realistically. I still think it's a worthwhile speculative investment, if you're not too fussed with the $500

  8. #53
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    Quote Originally Posted by rataylor22 View Post
    There are currently no legal or tax ramifications. From a legal side, that could change. If the US just decides to legislate it and say it's illegal, well there goes Bitcoin. That's unlikely though, considering Bitcoin is just a coin, and the technology of blockchain is getting ingrained everywhere in society. Much more likely is that both the US and Canada will legislate tax ramifications (capital gains) into it, so you'll just have to pay tax on your return whenever you sell.

    As for the valuation, is it possible? Sure, theoretically. Do I think it will get there? Not realistically. I still think it's a worthwhile speculative investment, if you're not too fussed with the $500
    Thanks rataylor. Have been watching videos on bitcoin the past few days here. I still remember hearing about bitcoin a couple years ago ... if only I invested then lol.

  9. #54
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    Default Re: Crypto Currency

    Quote Originally Posted by rataylor22 View Post
    There are currently no legal or tax ramifications. From a legal side, that could change. If the US just decides to legislate it and say it's illegal, well there goes Bitcoin. That's unlikely though, considering Bitcoin is just a coin, and the technology of blockchain is getting ingrained everywhere in society. Much more likely is that both the US and Canada will legislate tax ramifications (capital gains) into it, so you'll just have to pay tax on your return whenever you sell.

    As for the valuation, is it possible? Sure, theoretically. Do I think it will get there? Not realistically. I still think it's a worthwhile speculative investment, if you're not too fussed with the $500
    Ha. Bitcoin is far bigger than just the US.


    Actually, Bitcoin is "built" for the East.

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    Default Re: Crypto Currency

    Nothing illegal about it.

    Welcome to the biggest bull market mankind has ever seen.

    I've bought and sold and bought and bought a few times with my earliest entry at 3k as noted in this thread.

    About 4x my investment right now in a couple months lol.

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    Default Re: Crypto Currency

    Quote Originally Posted by Mr. Guru View Post
    Ha. Bitcoin is far bigger than just the US.


    Actually, Bitcoin is "built" for the East.
    If you think the US coming out with strong negative regulations on Bitcoin wont have a massive negative effect on it, I dunno what to tell you man.

  12. #57
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    Default Re: Crypto Currency

    If I had a dollar every time I heard that Id have 1 bitcoin by now.

    Again, the West isnt even the big time players in Crypto. Not yet anyways. That title belongs to Asia, for sure.

    We're actually seeing this spike because of Bitcoin futures coming to Nasdaq (US) later this month.

    Just wait until we see Bitcoin ETF's. Oh baby.

  13. #58
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    Default Re: Crypto Currency

    Quote Originally Posted by Mr. Guru View Post
    If I had a dollar every time I heard that Id have 1 bitcoin by now.

    Again, the West isnt even the big time players in Crypto. Not yet anyways. That title belongs to Asia, for sure.

    We're actually seeing this spike because of Bitcoin futures coming to Nasdaq (US) later this month.

    Just wait until we see Bitcoin ETF's. Oh baby.
    A while ago you were planning to start a Bitcoin position at $3000 (and did) because that's where you valued it. Now you value it at some number multiple times that amount? What has changed in the last couple of months to change your own valuation so dramatically? Is it actually worth that much more now in your eyes?

    I'm genuinely curious to hear why you were selling at $4000-$6000 (somewhere in there, if I remember correctly) a while ago, but now you're speaking as if the skies the limit and everybody should hop on and enjoy the ride...

  14. #59
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    Default Re: Crypto Currency

    My biggest fault is locking in profits waaaaay to early. But as the saying goes 'No one ever went broke by locking in profits'.

    I think my average now is around 7k.

    Even back in this thread I wasn't sure about the long term outlook of Bitcoin.

    The thing that really changed my optimism is the mainstream adoption which took place within the last few months.
    Also, 300k new subscribers to Coinbase (a bitcoin exchange) over US Thanksgiving weekend.
    It's market cap hitting $400 Billion is ridiculous.
    And of course, it's journey into financial mainstream. Futures trading makes it pretty legit. Bitcoin has been on CNBC everyday for the last three weeks it seems.

    Does the Crypto currency scene need regulations? Of course. When that happens it will only strengthen the market IMO. All these alternative coins is just adding fuel to the fire, IMO.

    As Im typing this Bitcoin explores new highs.

    What a beast!!!

    +14K

    EDIT: I do think a correction is coming but a bubble? Nahhh, not yet anyways.

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    Default Re: Crypto Currency

    I have a paypal account. Let's say I deposit $500 on there, then buy $500 worth of Bitcoin .... then the price triples in a few months (hypothetically) is it easy to cash out? Can I just request it in cash or whatever sent to my paypal?

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