Cryptocurrency

[Bible_Belt]

Bitcoin mining itself is not profitable anymore

My cousin built and sold a few computers that have the high-end graphics card for coin-mining, and I thought that was a good idea. When there's a gold rush, it's smarter to sell picks and shovels than chase the gold with everyone else. Unfortunately, he quickly ran into materials shortages, and could no longer build the machines as easily.

 

[BlueAlpha1]

The IRS is cracking down on the BTC provider Coinbase and demanding they hand over the info of their customers to the Gestapo. Coinbase is trying to stand down and protect our privacy, but they'll lose and very soon you'll be forced to report this as capital gains.

This is one way cryptocurrency can fail. If the powers that be in the one world government crack down on this or just outright ban it.Even if it eventually goes to $10,000 a coin, if you can be put in jail for it in 100 countries including our own, it's not going to be worth risking.

For now, I'm happy to report hundreds of dollars in capital losses this year. The bad investments in Bitcoin this year will lower my tax liability and give me a bit more of a refund, so I'm happy to cooperate this year.

 

[BlueAlpha1]

Well, Bitcoin is currently steady at $1,254 a coin. It was $250 a coin when I first learned what it was, but at that price it was very risky. I accepted that I missed the train on this a long time ago...

But now Ethereum has reached $30 for the first time ever, with a previous high of $19 a year ago. Two years ago it was trading at $0.96. I had a few hundred coins that I purchased for about $9 and pulled out when it plummeted to $6 in a few days.

So much for that...

 

[samspade]

Well, Bitcoin is currently steady at $1,254 a coin. It was $250 a coin when I first learned what it was, but at that price it was very risky. I accepted that I missed the train on this a long time ago...

But now Ethereum has reached $30 for the first time ever, with a previous high of $19 a year ago. Two years ago it was trading at $0.96. I had a few hundred coins that I purchased for about $9 and pulled out when it plummeted to $6 in a few days.

So much for that...

Interesting. I have some Bitcoin, may look into Ethereum.

 

[ChristopherColumbus]

Some people believe Bitcoin and Litecoin are the Gold and Silver of the next century.

Others say these "investments" are akin to lighting your money on fire. I say tell it the individuals who invested in Bitcoin at $0.07 in 2011 who are now multi-millionaires. BTC currently trades at $760 per coin.

While extremely volatile, dangerous, and difficult to understand (a recipe for disaster), IF cryptocurrency is here to stay, surely Bitcoin will not remain the only big fish in town forever.

Is anyone enticed by any alternative coins at all?

I am in the process of piling into silver [goldmoney.com]. Putting something like 20% of my liquid worth into it. I view it as an alternative currency.

 

[BlueAlpha1]

Interesting. I have some Bitcoin, may look into Ethereum.

I had 100 ETH just six months ago which I spent $1200 on. That would be worth over $5000 today if I'd held.

I just re-purchased 50 ETH when it was $45. Cost me $2,300 and is an incredibly risky short term investment now, because there very well could be a correction soon where it plummets back down to $15-20. However currently it sits at $51 so I'm up a few hundred as of now. I wasn't going to risk missing the train again IF it just keeps going and eclipses $100 soon.

Even if it plummets short term, I'm confident in Ethereum right now. It is now a mainstream coin sold on the most reputable exchanges like Coinbase. Ether, like Bitcoin, has seen RIDICULOUS gains in a short period of time, but Ether has been the surging coin of 2017 thus far.

Ether is closing in on a $5b market cap, and Bitcoin's is currently $16b. Ether reached a 4b market cap in 1 1/2 years, and it took Bitcoin 4 years to do the same.

Ether's market cap is now 1/3 of Bitcoin's, previously thought to be unheard of as Bitcoin used to totally dominate the crypto market. Over 90% of the money circulating in cryptocurrencies was in Bitcoin a few months ago, that number is now 67%.

In short, here's the difference between the two.

Bitcoin: A de-centralized online currency (the first of it's kind)
Ethereum: A de-centralized developer platform where developers can upload applications without a middle man, AND a cryptocurrency

In other words, there is nostalgia in Bitcoin, but Ethereum can do a lot more. This is why Ether has come out of NOWHERE, only the 2nd coin to reach a 1b market cap and in rapid speed.

Ethereum's mentality is that CURRENCY should be to de-centralization what EMAIL is to THE INTERNET - only a small piece of the puzzle.

@Tenacity curious about your thoughts on this.

 

[Bible_Belt]

Here's a chart of Ethereum. It looks like a stock I would buy:

 

[BlueAlpha1]

Here's a chart of Ethereum. It looks like a stock I would buy:

That's f'n crazy.

Either one of three things is gonna happen:

1. Ethereum has already peaked ($0.96 to $51 in 18 months is remarkable enough) and there will be a huge fall from grace
2. Ethereum will surpass $1,000 a coin and overthrow bitcoin as the dominant crypto
3. It will slowly rise to the $100-250 range and be a solid alternative coin if Bitcoin remains the default coin

I'd be in good shape if 2 or 3 came true. Either way I think Ethereum is here to stay. So pissed I sold 100 coins for pocket change....

 

[Bible_Belt]

The point of technical analysis of charts is that you set all of your own opinions aside and just look at the chart. And that is one kick-ass chart.

 

[Tenacity]

I had 100 ETH just six months ago which I spent $1200 on. That would be worth over $5000 today if I'd held.

I just re-purchased 50 ETH when it was $45. Cost me $2,300 and is an incredibly risky short term investment now, because there very well could be a correction soon where it plummets back down to $15-20. However currently it sits at $51 so I'm up a few hundred as of now. I wasn't going to risk missing the train again IF it just keeps going and eclipses $100 soon.

Even if it plummets short term, I'm confident in Ethereum right now. It is now a mainstream coin sold on the most reputable exchanges like Coinbase. Ether, like Bitcoin, has seen RIDICULOUS gains in a short period of time, but Ether has been the surging coin of 2017 thus far.

Ether is closing in on a $5b market cap, and Bitcoin's is currently $16b. Ether reached a 4b market cap in 1 1/2 years, and it took Bitcoin 4 years to do the same.

Ether's market cap is now 1/3 of Bitcoin's, previously thought to be unheard of as Bitcoin used to totally dominate the crypto market. Over 90% of the money circulating in cryptocurrencies was in Bitcoin a few months ago, that number is now 67%.

In short, here's the difference between the two.

Bitcoin: A de-centralized online currency (the first of it's kind)
Ethereum: A de-centralized developer platform where developers can upload applications without a middle man, AND a cryptocurrency

In other words, there is nostalgia in Bitcoin, but Ethereum can do a lot more. This is why Ether has come out of NOWHERE, only the 2nd coin to reach a 1b market cap and in rapid speed.

Ethereum's mentality is that CURRENCY should be to de-centralization what EMAIL is to THE INTERNET - only a small piece of the puzzle.

@Tenacity curious about your thoughts on this.

I honestly don't fvck with cryptocurrencies lol. I don't think anything is going to replace the dollar as the dollar has too much mass production behind it, that the cryptocurrencies don't have.

It's all speculation which is fine, but I personally don't fvck with it.

 

[backbreaker]

i get weed and other various musings from the deep web (for instance tehy have like on point replica rolexes for eighty dollars)

last year i bought like 3 bitcoins for 400 dollars and used 1 and had about 750 dollars left. i logged into blockchain to buy some weed lol and i saw a replica brietling watch i wanted and i had 1800 dollars. **** yeah lol

 

[backbreaker]

for conversion i use paxful i don't like the idea of verifying **** that's the whole point of bitcoin plus i ain't got time to be waiting i want my **** when i want it. went smoothly i use blockchain.info for my wallet

you really ahve to be a village idiot to use a site like coinbase that is that offical next they will be tracking where you sent your money from coinbase / what deep web site

pay a little more stay off the grid

 

[Who Dares Win]

I'm considering to buy some btw eth and xmr but not that familiar with exchanges especially not that sure about providing my id to random sites

 

[BlueAlpha1]

for conversion i use paxful i don't like the idea of verifying **** that's the whole point of bitcoin plus i ain't got time to be waiting i want my **** when i want it. went smoothly i use blockchain.info for my wallet

you really ahve to be a village idiot to use a site like coinbase that is that offical next they will be tracking where you sent your money from coinbase / what deep web site

pay a little more stay off the grid

And get hacked.

 

[samspade]

My Bitcoin has gone up 150% times since I bought it. I didn't invest much, just $200, but now it's worth $450 and still rising.

When should I sell it? Any tips on when to know? It occasionally goes down and then climbs up farther.

 

[wifehunter]

My Bitcoin has gone up 150% times since I bought it. I didn't invest much, just $200, but now it's worth $450 and still rising.

When should I sell it? Any tips on when to know? It occasionally goes down and then climbs up farther.

It depends on your situation...But, I'd buy more!

Btw, thanks for posting this!!!

 

[samspade]

It depends on your situation...But, I'd buy more!

Btw, thanks for posting this!!!

My pleasure. It's been on a good run lately. 1600 BC to one dollar now.

 

[AAAgent]

i sold my bitcoin/ethereum for a family emergency last week. wanted to punch myself but what can you do. I immediately bought back as much ethereum and litecoin this week as I could. Still made a killing. Literally bought $1k worth of litecoin LAST NIGHT and im up 30%.

 

[wifehunter]

i sold my bitcoin/ethereum for a family emergency last week. wanted to punch myself but what can you do. I immediately bought back as much ethereum and litecoin this week as I could. Still made a killing. Literally bought $1k worth of litecoin LAST NIGHT and im up 30%.

Very encouraging!

 

[PrettyBoyAJ]

How much profit did you make AAA on the bitcoin?