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Forum » Bitcoin just hit $6,000 a coin
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Thread: Bitcoin just hit $6,000 a coin

post 1523274291 10-20-2017, 11:03 AM
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I'm just saving my money for the crash, that's when I'll come in.
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post 1523274421 10-20-2017, 11:04 AM
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#32
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You explained in your OP why bitcoin will never be a viable currency for anything other than speculation and illegal trade. 21 million coins is not enough for it to scale to that size.

Example: platinum is far, far, far rarer than gold. Why isn’t it also far, far more valuable? Because there’s not enough of it for any country to use for their reserves.
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post 1523274651 10-20-2017, 11:06 AM
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#33
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So do people still "mine" for bitcoins?

I just remember the PC graphics card market was all fuked up because of bitcoins
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post 1523274751 10-20-2017, 11:07 AM
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Originally Posted By LinuxJon⏩
You explained in your OP why bitcoin will never be a viable currency for anything other than speculation and illegal trade. 21 million coins is not enough for it to scale to that size.

Example: platinum is far, far, far rarer than gold. Why isn’t it also far, far more valuable? Because there’s not enough of it for any country to use for their reserves.
you can buy less than one coin. a single coin is divisible into 100million parts.
post 1523274761 10-20-2017, 11:07 AM
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#35
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post 1523274811 10-20-2017, 11:07 AM
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#36
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do you suggest going in right now OP? Or would you expect it to dip sometime soon and wait on that instead?
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post 1523274981 10-20-2017, 11:09 AM
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#37
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Originally Posted By LinuxJon⏩
You explained in your OP why bitcoin will never be a viable currency for anything other than speculation and illegal trade. 21 million coins is not enough for it to scale to that size.

Example: platinum is far, far, far rarer than gold. Why isn’t it also far, far more valuable? Because there’s not enough of it for any country to use for their reserves.
I wouldn't be surprised if all the Bitcoin's got purchased by big banks and governments to transfer money between each other. At that point it would become a stable currency because the banks/governments would hold a majority of the coins.
Originally Posted By cojones539⏩
do you suggest going in right now OP? Or would you expect it to dip sometime soon and wait on that instead?
Whenever you buy there will probably be a soul crushing dip right after.
post 1523275011 10-20-2017, 11:09 AM
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#38
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Originally Posted By cojones539⏩
do you suggest going in right now OP? Or would you expect it to dip sometime soon and wait on that instead?
remember, its all a gamble

but, you could go in right now for long term investment, but probably not the best for short term because everyone that's not familiar with it is asking the same question as you are
onion crew
post 1523275291 10-20-2017, 11:11 AM
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#39
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Originally Posted By colbski⏩
i guess the value is perceived with circulated currency? someone has to control the bitcoin market.... and it is manipulated to a degree. I have 27 bitcoin that were given through those faucet sites a long time ago... (2011) i still have them and literally don't know what the fuk to do with them or how i can even exchange them.
You can buy a house with those 27 bitcoins. Do you still have access and know the key/password to get in? If so, I'd move them to an offline physical wallet.
Originally Posted By LinuxJon⏩
You explained in your OP why bitcoin will never be a viable currency for anything other than speculation and illegal trade. 21 million coins is not enough for it to scale to that size.

Example: platinum is far, far, far rarer than gold. Why isn’t it also far, far more valuable? Because there’s not enough of it for any country to use for their reserves.
You're forgetting the alt coin market. If I remember right, I think the total crypto market is only a few billion right now.
Originally Posted By cojones539⏩
do you suggest going in right now OP? Or would you expect it to dip sometime soon and wait on that instead?
If you want to buy in to just bitcoin, wait for a few weeks. I think it's going to come down pretty hard after the 25th fork. Doesn't mean you can't send some cash to Coinbase and have it ready for when it falls.
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post 1523275941 10-20-2017, 11:18 AM
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#40
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Originally Posted By gixxer0.6g⏩
You can buy a house with those 27 bitcoins. Do you still have access and know the key/password to get in? If so, I'd move them to an offline physical wallet.
yes, i'm looking at them right now. i use a blockchain wallet, but i don't even know what to do with it. how do i turn this into USD?
:D
post 1523276171 10-20-2017, 11:21 AM
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#41
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Originally Posted By colbski⏩
yes, i'm looking at them right now. i use a blockchain wallet. but i don't even know what to do with it.
Do a little research because I'm sure there are cheaper options in terms of fees.

But coinbase lets you swap out for USD. Many other exchanges let you trade btc for USD too. But I've never cashed out yet so I don't know. Don't plan on it either until I arrive at the lambo dealership.
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post 1523276501 10-20-2017, 11:24 AM
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#42
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I remember when they were 900-1000 a couple years ago. Thought no way they'd ever go any higher. Would of been able to invest around 30-40 grand lmao
post 1523276531 10-20-2017, 11:24 AM
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#43
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Originally Posted By gixxer0.6g⏩
You're forgetting the alt coin market. If I remember right, I think the total crypto market is only a few billion right now.
$173B, it's at the top of coinmarketcap.com
post 1523277851 10-20-2017, 11:35 AM
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#44
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Originally Posted By LinuxJon⏩
You explained in your OP why bitcoin will never be a viable currency for anything other than speculation and illegal trade. 21 million coins is not enough for it to scale to that size.

Example: platinum is far, far, far rarer than gold. Why isn’t it also far, far more valuable? Because there’s not enough of it for any country to use for their reserves.
It can be divided by 8 decimal places, more if ever is required
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post 1523278361 10-20-2017, 11:39 AM
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#45
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Originally Posted By LinuxJon⏩
You explained in your OP why bitcoin will never be a viable currency for anything other than speculation and illegal trade. 21 million coins is not enough for it to scale to that size.

Example: platinum is far, far, far rarer than gold. Why isn’t it also far, far more valuable? Because there’s not enough of it for any country to use for their reserves.
You do realize that you dont need to hold it in whole numbers lol
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post 1523278631 10-20-2017, 11:41 AM
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#46
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Originally Posted By colbski⏩
yes, i'm looking at them right now. i use a blockchain wallet, but i don't even know what to do with it. how do i turn this into USD?
LOL congrats on just realizing you have 162000 in cryptocurrency. You could turn that into more pretty easily, but it sounds like you arent familar with the market at all.
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post 1523279321 10-20-2017, 11:46 AM
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#47
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Originally Posted By colbski⏩
yes, i'm looking at them right now. i use a blockchain wallet, but i don't even know what to do with it. how do i turn this into USD?
Sign up at coinbase. Verify your account and bank account. Once that is done you can sell your btc for usd there. It will stay in your USD coinbase wallet until you transfer to bank account. I suggest you don't sell everything at once and don't cash out to your bank all at once. If you do then you need to take out a percentage for tax purposes cause that is a large amount. It's going to trigger the irs for sure.


OR


Learn the market and make even MORE coin by investing into other coins. Or just keep them in BTC for another few years.
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post 1523279371 10-20-2017, 11:47 AM
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#48
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Originally Posted By colbski⏩
i guess the value is perceived with circulated currency? someone has to control the bitcoin market.... and it is manipulated to a degree. I have 27 bitcoin that were given through those faucet sites a long time ago... (2011) i still have them and literally don't know what the fuk to do with them or how i can even exchange them.
Wow you have 160k USD value of BTC and you have no idea how to exchange it for fiat? oh lawd. not sure if troll

Pretty obvious you haven't had the need for it since u been holding it for 6 years, might as well just keep holding until you are in need of money.
post 1523279481 10-20-2017, 11:47 AM
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#49
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Originally Posted By gixxer0.6g⏩
Keep hating and enjoying your sub 10% YEARLY returns in stocks. Keeps prices lower so I can buy up even more.
Why would you post this on the main forums? We don't need extra competition. Let them think it's a scam

Originally Posted By colbski⏩
i guess the value is perceived with circulated currency? someone has to control the bitcoin market.... and it is manipulated to a degree. I have 27 bitcoin that were given through those faucet sites a long time ago... (2011) i still have them and literally don't know what the fuk to do with them or how i can even exchange them.
Those things are worth $6k a piece dude. You telling me you're just gonna sit on your ass?

I'll take them off your hands
post 1523279821 10-20-2017, 11:51 AM
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#50
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you better sell now brah
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post 1523280231 10-20-2017, 11:55 AM
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#51
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Until I can actually get cash for it and use it at any store, I am out..
post 1523280361 10-20-2017, 11:56 AM
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#52
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Originally Posted By cgh⏩
Until I can actually get cash for it and use it at any store, I am out..
my friend just bought a vacation on expedia with bitcoin. Why be late to the party?
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post 1523280431 10-20-2017, 11:57 AM
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#53
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Originally Posted By cgh⏩
Until I can actually get cash for it and use it at any store, I am out..
They have bitcoin atms as well as bitcoin debit cards that can be used anywhere.
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post 1523280631 10-20-2017, 11:59 AM
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ITT stupid miscers don't know what a bubble is.
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post 1523280861 10-20-2017, 12:01 PM
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#55
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Originally Posted By Jhalf⏩
my friend just bought a vacation on expedia with bitcoin. Why be late to the party?
Why are you telling dumbasses this? Close minded people don't deserve gains

I've decided to test cryptos because why not? I'm open minded. Sure it be a scam, but it never hurts to play it safe.
post 1523280931 10-20-2017, 12:02 PM
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#56
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Originally Posted By Better
happy merchant does not control it. the dream is alive
Happy merchant created it and controls it and has access to unlimited nuclear energy and military tech to mine it because he controls all western governments.

Actually the US government is the biggest holder of bitcoins at the moment if I'm not mistaken. The Silk Road seizure alone would put in the top 5 holders.
post 1523281101 10-20-2017, 12:04 PM
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Originally Posted By Twerk4it⏩
Glad I got a piece of the pie when I did, unfortunatelywhen Btc shoots to the moon other cryptos don’t come along with it — yet they still drop whenever Btc does.



Isn’t this where the risk comes from? If the powers that be come after it.
Will be hard to stop it because there will be countries that don't regulate crypto, once all the money starts mooching away from home, a country would be prudent to stay ahead of the curve. I see some resistance but overall it's snowballing.
Originally Posted By colbski⏩
i guess the value is perceived with circulated currency? someone has to control the bitcoin market.... and it is manipulated to a degree. I have 27 bitcoin that were given through those faucet sites a long time ago... (2011) i still have them and literally don't know what the fuk to do with them or how i can even exchange them.
Don't cash them out. In fact make sure you have them secured. But think of it this way, there are legit jobs now that pay in bitcoin, and merchants are increasingly accepting bitcoin as a payment method. Once it gets more mainstream, nobody will give a f*ck about the dollar.
#
post 1523281181 10-20-2017, 12:04 PM
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#58
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Originally Posted By cgh⏩
Until I can actually get cash for it and use it at any store, I am out..
you can exchange it for fiat(cash) in an instant... vice versa
post 1523281271 10-20-2017, 12:05 PM
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#59
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just waiting for my eth and lite to make me comfy for retirement!. Im hopeful but realistic.
Originally Posted By RaphaelDeLaGhetto⏩
Breaking News:

Bitcoins just hit $500 a coin in 2018
maybe...maybe not. Miscers would hope not, they want to get rich doing nothing.
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post 1523283661 10-20-2017, 12:29 PM
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#60
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Originally Posted By cgh⏩
Until I can actually get cash for it and use it at any store, I am out..
People have been doing this for a long time now. You can sell BTC or other alts for $ now realtime.
And some stores are accepting BTC payments already.
Originally Posted By AndYUKnowThis⏩
Why are you telling dumbasses this? Close minded people don't deserve gains

I've decided to test cryptos because why not? I'm open minded. Sure it be a scam, but it never hurts to play it safe.
The more people know, the better for us who are into crypto because this need to be in the mainstream for all those alt projects to flourish.
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