Author Topic: So I'm trying Bitcoin  (Read 5764 times)

Lilburner

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So I'm trying Bitcoin
« on: March 05, 2018, 10:38:39 PM »
Went to a class this weekend that made me feel a whole lot better about it.

I put in $100 - sometimes the best way to learn is to do.

I've lost about a dollar, so clearly the sky is falling.
A strong conviction that something must be done is the parent of many bad measures.
~ Daniel Webster

nj_m715

Re: So I'm trying Bitcoin
« Reply #1 on: March 05, 2018, 11:07:51 PM »
welcome aboard

Lilburner

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Re: So I'm trying Bitcoin
« Reply #2 on: March 12, 2018, 03:20:52 PM »
Down almost 25% to $77.42

Hanging in there, though.
A strong conviction that something must be done is the parent of many bad measures.
~ Daniel Webster

Lilburner

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Re: So I'm trying Bitcoin
« Reply #3 on: March 29, 2018, 10:15:54 AM »
Let's check in on my $100



It's funny. I'll get back to back news items in my feed that it will hit $100,000, and that it will go bust. We'll see, I guess.
A strong conviction that something must be done is the parent of many bad measures.
~ Daniel Webster

John Galt 1

Re: So I'm trying Bitcoin
« Reply #4 on: March 29, 2018, 11:08:37 AM »
I was in crypto but mostly cashed out a few months ago.      Things really dropped after India banned bitcoin a few months ago.      India has always had troubles making people pay sales and income taxes and they saw that Bitcoin would make getting accurate income and sales records for tax purposes much harder.

The newest challenge is the block chain technology crypto coins use.      As you probably know block chains use information or "code" about all previous holders of that "coin" to build the block chain.

New EU privacy laws may make block chain technology illegal because somewhere in the block chain in encrypted form is part of the wallet address from everybody who's ever held that coin.       Some "privacy" coins such as Monero may be exempt.     Perhaps all block chain crypto coins will be exempt.      It really depends on how regulators interpate the somewhat vague new privacy laws.        It will take years for it to all wash out.
Talk is cheap, Actions count.

YellowRose

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Re: So I'm trying Bitcoin
« Reply #5 on: April 02, 2018, 08:46:35 AM »
I bought into bitcoin last summer.  I made some money, sold when it was high, re-invested when it came down.  I thought I was doing well, but apparently I re-purchased much too soon, because it has dropped considerably since then.  I'm staying in for now.  I am hopeful that it will recover, but you never know.  I like having a bit of currency diversification. 

It looks  unlikely that block chain technology will be banned, if this year's G20 is any indication.  But it will certainly end up being regulated, and what those regulations will look like is still anyone's guess.  Several countries are talking about introducing regulations by July, though so far the US isn't one of them.

John Galt 1

Re: So I'm trying Bitcoin
« Reply #6 on: April 02, 2018, 08:48:41 PM »
While I'm not ready to buy back into the market yet I suspect the worst of the cryptocurrency bloodletting is over.       
Talk is cheap, Actions count.

Lilburner

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Re: So I'm trying Bitcoin
« Reply #7 on: December 10, 2018, 05:11:11 PM »
Hell I'm almost tempted to buy more! How bad can it get?

A strong conviction that something must be done is the parent of many bad measures.
~ Daniel Webster

John Galt 1

Re: So I'm trying Bitcoin
« Reply #8 on: December 11, 2018, 10:00:13 AM »
As I mentioned in an earlier post I mostly cashed out last year avoiding the worst of the drop but I kept some in Tether coin which is tied to the dollar so it's value has only dropped about 2%.

Last week I used some of the Tether to buy some KIN and Ripple (XRP) coins.       It's kind of mad money that probably won't go anywhere but I'll let it ride for a few years and see if I get lucky.
Talk is cheap, Actions count.

ProGeek

Re: So I'm trying Bitcoin
« Reply #9 on: December 28, 2018, 12:41:39 PM »
Hell I'm almost tempted to buy more! How bad can it get?

It can go to near $0.  Bitcoin only works if the internet is working. No power, no Bitcoin.
If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter.

RWS

Re: So I'm trying Bitcoin
« Reply #10 on: March 19, 2019, 07:07:24 AM »
Bitcoin appears to be working well for the Venezuelans that are fighting inflation and local currency de-valuation.

https://www.bbc.com/news/business-47553048

RWS

Re: So I'm trying Bitcoin
« Reply #11 on: May 10, 2019, 02:21:34 PM »

RevJammer

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Re: So I'm trying Bitcoin
« Reply #12 on: May 10, 2019, 05:39:20 PM »
Anybody familiar with XRP and their relationship with Apple?  Any thoughts?


RJ

John Galt 1

Re: So I'm trying Bitcoin
« Reply #13 on: May 10, 2019, 09:47:17 PM »
XRP also known as Ripple is used by some banks for making international transfers.         I don't know anything about a connection to Apple but I do know Apple was looking to use a cryptocurrency for possibly a new transfer function between phone accounts.
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RevJammer

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Re: So I'm trying Bitcoin
« Reply #14 on: May 11, 2019, 07:22:11 AM »
I know less than nothing about this type of stuff...  but I heard that Apple decided to use XRP...  supposed to roll out this summer with some new Apple card thing...  please don't take investment advice from me!

I'm just sharing information...

RJ