Is Bitcoin the beta bucks of the near future?

[dk1990S111]

Ha ha, yeah that was a bad typo.

Damn in the 13800s now, you sure about 12000??? I’m about to jump in lol

 

[ChristopherColumbus]

6

Damn in the 13800s now, you sure about 12000??? I’m about to jump in lol

Opps .... bounced back into 14600s... but might come down a bit more for you... ha ha.

But don't expect it to hang about too long at these levels!! It could snap back very fast.... on its way toward 40K.

The goats are being herded out, the wolves are buying.

 

[dk1990S111]

6
Opps .... bounced back into 14600s... but might come down a bit more for you... ha ha.

But don't expect it to hang about too long at these levels!! It could snap back very fast.... on its way toward 40K.

The goats are being herded out, the wolves are buying.

Damn man, should have had my account ready to go. Can’t get it open to buy now cuz I just got a new phone so Coinbase wants me to verify this phone now. Already back to 15k

 

[ChristopherColumbus]

By the way, if you don't own any Bitcoin, don't wait around for 12K. There is just as much risk to the upside as to the downside with this kind of volatility. Once you've established a position, you might have the luxury to wait around for dips... or not.

 

[logicallefty]

I'm just not ready to take the Bitcoin plunge yet. But I have been day and swing trading some penny stocks that are associated with it, and made a little bit of money on those. For the most part, they move when Bitcoin moves. As for Bitcoin being "beta bux". Only time will tell. Right now, I'm just not sure about it.

 

[ChristopherColumbus]

I'm just not ready to take the Bitcoin plunge yet. But I have been day and swing trading some penny stocks that are associated with it, and made a little bit of money on those. For the most part, they move when Bitcoin moves. As for Bitcoin being "beta bux". Only time will tell. Right now, I'm just not sure about it.

Fortune favors the bold!

As for all this volatility... it's all in the toppy frothy stuff. Sadly, this scares people off.... a form of money illusion.

 

[MatureDJ]

I put $850 into it. Would have put more but eh. It’s still going up too. I reckon that by New Years is when the bubble will crash and it’ll be worthless. Then Ethereum and Litecoin will follow afterwards, though they won’t drop as much. After a few weeks, those two will probably start going up again.

The thing is though, online shopping and thus online currency will be more and more common. This means that bitcoin and all the other digital currencies will go up as well, especially because they’re untraceable through means of buying and selling. The dark web is only going to expand too, making it even more prominent. If it does not crash a little bit after New Years, then it’ll probably continue increasing until 2020 before dropping off again. And if civil unrest in western countries continues to increase, then that likely means that bitcoin will also be going up too. There was a 14 year old kid who became a millionaire from bitcoin actually. You can find his story somewhere on Reddit.

Until someone has cashed out of Bitcoin, I don't consider it being wealth. There is/was some value in Bitcoin simply because of its investing bubble aspect; the problem is that the only way to make money is to sell before the "greater fools" run out.

 

[dk1990S111]

Until someone has cashed out of Bitcoin, I don't consider it being wealth. There is/was some value in Bitcoin simply because of its investing bubble aspect; the problem is that the only way to make money is to sell before the "greater fools" run out.

I’m looking at it more as a day trader

 

[MatureDJ]

I think this guy knows more about finance than any of the folks around here:

https://finance.yahoo.com/news/peter-schiff-bitcoin-biggest-bubble-181407153.html

 

[ImTheDoubleGreatest!]

Until someone has cashed out of Bitcoin, I don't consider it being wealth. There is/was some value in Bitcoin simply because of its investing bubble aspect; the problem is that the only way to make money is to sell before the "greater fools" run out.

I put in 1k total. I pulled out several hours ago, probably should have 2 or 3 days ago tbh backs when it was highest, but I still made $600 from it which is pretty good tbh

 

[ChristopherColumbus]

What a lot of nervous nellies. One month ago, the price was sitting at 8K. It is now 13K. What is the problem?

 

[taiyuu_otoko]

problem is that the only way to make money is to sell before the "greater fools" run out.

 

[ImTheDoubleGreatest!]

What a lot of nervous nellies. One month ago, the price was sitting at 8K. It is now 13K. What is the problem?

I told myself that I would sell around New Years if things got too unstable, which they are. Plus, a friend of mine currently studies at University of Chicago and has a friend who specifically studies the Bitcoin trends with cryptocurrencies and such. He said that with bitcoin, it should pop around early 2018. I trust his opinion because all those people who go to that school make sure that their life revolves around education and just knowing **** so yeah. Plus I don’t care to really study it all that much either even though I could and probably make a better decision.

If it starts to rise again after Christmas/New Years, then I will buy again.

 

[taiyuu_otoko]

What is the problem?

The problem exists for those who bought higher than 13K.

Never doubt the power of market bubbles to ruin greater men than you, or any of the other fist fvckers on sosuave.

Isaac Newton lost his a$$ in the south sea bubble, even AFTER making some serious cash. He got in early, sold on the way up, couldn't resist, got back in and then lost everything.

(But I'm sure all the newly rich SoSuavers can do better than the dude who invented calculus....)

No one is immune.

https://www.sovereignman.com/finance/how-isaac-newton-went-flat-broke-chasing-a-stock-bubble-13268/

http://www.businessinsider.com/isaac-newton-lost-a-fortune-on-englands-hottest-stock-2016-1

 

[Von]

The problem exists for those who bought higher than 13K.

Never doubt the power of market bubbles to ruin greater men than you, or any of the other fist fvckers on sosuave.

Isaac Newton lost his a$$ in the south sea bubble, even AFTER making some serious cash. He got in early, sold on the way up, couldn't resist, got back in and then lost everything.

(But I'm sure all the newly rich SoSuavers can do better than the dude who invented calculus....)

No one is immune.

https://www.sovereignman.com/finance/how-isaac-newton-went-flat-broke-chasing-a-stock-bubble-13268/

http://www.businessinsider.com/isaac-newton-lost-a-fortune-on-englands-hottest-stock-2016-1

When everyone says its time to buy (especially your friends)... it's actually time to sell

No wonder Warren Buffet got rich without ever setting foot on Wall Street or using a computer.

If I look at myself... I did 200% returns in 1 year over 3 stocks I bought... does that make me rich? NOPE..... why? Because I haven't sold them yet to cash-in.

Experience tell me I should... my emotions tell me I shouldn't

 

[taiyuu_otoko]

Experience tell me I should... my emotions tell me I shouldn't

The age old battle of mankind.

Rational mind vs. Emotional mind.

You can run, but you can't hide...

 

[skinnyguy]

Bitcoin crashed hard today.

Guys like @TheGambino will have to learn the hard way about highly speculative asset bubbles. I went to one of the top 20 universities in the world and studied economics. If I thought Bitcoin was legitimate, believe me I'd jump in. But the problem is that it's a high tech scam that eventually will run its course.

Economics and investing are all about perception. Now that the SEC has shown the world that Bitcoin is suspect, it's reputation is tarnished forever. This is similar to the junk bond frenzy in the late 1980's. people rushed to buy junk bonds, because it seemed like quick, cheap money. But it was too good to be true.

Some of you younger guys should stop relying on what you read on Yahoo (and what you hear from your friends/what looks "cool") and read more about other types of asset classes that aren't talked about as much. REITs, ETF's, etc. They are incredibly boring to research but will provide long term gains if you are prudent.

 

[taiyuu_otoko]

 

[Von]

Bitcoin crashed hard today.

Guys like @TheGambino will have to learn the hard way about highly speculative asset bubbles. I went to one of the top 20 universities in the world and studied economics. If I thought Bitcoin was legitimate, believe me I'd jump in. But the problem is that it's a high tech scam that eventually will run its course.

Economics and investing are all about perception. Now that the SEC has shown the world that Bitcoin is suspect, it's reputation is tarnished forever. This is similar to the junk bond frenzy in the late 1980's. people rushed to buy junk bonds, because it seemed like quick, cheap money. But it was too good to be true.

Some of you younger guys should stop relying on what you read on Yahoo (and what you hear from your friends/what looks "cool") and read more about other types of asset classes that aren't talked about as much. REITs, ETF's, etc. They are incredibly boring to research but will provide long term gains if you are prudent.

How DARE YOU SPEAK THE TRUTH... and remain a Skinny guy lol!

100% right and we are aligned in our perceptions and approach.

I would add: Being a fool in the financial world ain't just a matter of ''youth''.... a lot of adults too jump in the buss... and it's not rare to see adults do the SAME mistakes OVER AND OVER.

You see it too in the real estate, people say you can't lose money in real estate... when in the past 25 years it happenned 3 times and they were there lol.... the 1980's you could buy a house for 10$ the market had crashed so much that billionnaires became broke... Downtown Tokyo real estate value was BIGGER THAN THE WHOLE WORLD. The Junk Bonds, The Japan Crash, The Internet doc.com buble, the Subprime (which saw real estate crash) crisis... now what is next: I believe a ''crypto - passive investment - debt mix'' crisis bigger than anything (probably similar to the Japan crisis which took 20 years to get out).

Running after the quick buck, it's like running after the quick lay... you'll get naked really fast but not how you thought it would happen

Nothing is more emotional than money... money is a symbol of security

 

[ChristopherColumbus]

Fortune favors the brave. One man's bubble is another man's opportunity. As predictable, BTC corrected 50% from the frothy over-heated run up recently [7K to 19K in a few weeks].

It has not crashed, but is recovering to its previous level... before predictably going on to new highs.

The savvy investor will identify the trend in a bull market and ride it out. He will also hedge against the certainty of his own convictions [negative capability], and also look to diversify into other assets/ currencies with any eventual profit made.

As for Newton, he himself was a bubble. No one describes reality in Newtonian terms anymore. If only people started using Eliot waves again.