https://www.bloomberg.com/news/articles/2018-03-16/bitcoin-s-death-cross-looms-as-strategist-eyes-2-800-level

posted by QuakerOats

https://www.bloomberg.com/news/articles/2018-02-07/get-ready-for-most-cryptocurrencies-to-hit-zero-goldman-says

posted by QuakerOats

https://www.bloomberg.com/news/articles/2018-03-16/bitcoin-s-death-cross-looms-as-strategist-eyes-2-800-level

Is it $0 or $2800?

In all seriousness, weren't we all pretty much saying we could see it hitting $1-2K?  Wouldn't surprise me at all.  It's volatile.

I am not invested in any crypto; I just post articles from time to time to give those who are invested some various points of view. 

Good luck to all. 

I am sticking with Nutanix - NTNX, which has risen nicely from my entry of $24 last October. 

Oh, I know.  Crypto is volatile.  It's going to have drops and rises until it levels out.

This one popped up in my Google feed yesterday.  Found it interesting:

https://www.bloomberg.com/news/articles/2018-03-15/bitcoin-bull-tom-lee-sees-more-pain-ahead-before-price-recovery

https://qz.com/1285209/bitcoin-pizza-day-2018-eight-years-ago-someone-bought-two-pizzas-with-bitcoins-now-worth-82-million/

Oh my

posted by QuakerOats

https://qz.com/1285209/bitcoin-pizza-day-2018-eight-years-ago-someone-bought-two-pizzas-with-bitcoins-now-worth-82-million/

 

Oh my

Yeah, that's allegedly the "first purchase ever" with BTC.  I've heard the story a few times.  That royally sucks.

Anyone familiar with OneCoin? Just binged the BBC podcast on it. Wow, very very facinating. I can't believe I've never heard of it.

I am not familiar with it. What's the gist?

Multi-BILLION dollar ponzi scheme posed as a crypto currency. MLM shadiness involved. Highly recommend giving it a listen. Their founder is currently on the lamb, her brother jailed in the US.

Nice. So many scam coins out there.

I forgot about this thread until you bumped it.

There was a new coin launch recently that is pegged to the coronavirus. 

https://www.cryptonewsz.com/coronavirus-based-cryptocurrency-coronacoin-enters-the-crypto-market/58914/

I'm not super knowledgable in crypto, but I do have some Bitcoin since I've recently adopted the Cash app. 

Most of my friends who were big into it a few years ago during the spike have lost their ass and since stopped talking about it. lol

posted by Automatik

I'm not super knowledgable in crypto, but I do have some Bitcoin since I've recently adopted the Cash app. 

Most of my friends who were big into it a few years ago during the spike have lost their ass and since stopped talking about it. lol

I've known about it since it was in the $10 range, I believe, but never bought early. Kinda forgot about it for 6-7 years and bought in during the big 2017 peak. I think I bought about $1000 worth when it was $15k, so that's down a bit.

If I knew in 2010 what I know now I would've put a large portion of my savings into it and HODL'd. Hindsight being what it is, I wish I would've spent more time learning the fundamentals/utility of it when I first learned about it. I'd be a millionaire many times over right now, while only converting a small portion into fiat.

That said, we're still very early in the life of it, and the last coins won't even be mined for another 120 years. I'm currently DCAing a little bit each week, hoping that it ends up paying off very well in retirement.

I have a friend of a friend who cashed out for ~250k in 2017. He's still traveling the world and not working. Lucky bastard.

Right now I'm just throwing extra funds at it for fun. Like I said, I'm a newb....just looked up what DCA meant. Will try!

Just keep stacking sats, as they say.

posted by Automatik

I'm not super knowledgable in crypto, but I do have some Bitcoin since I've recently adopted the Cash app. 

Most of my friends who were big into it a few years ago during the spike have lost their ass and since stopped talking about it. lol

Yep.  The people I know who lost hard fall into one of two camps:

(a) They stopped talking about it and either cut their losses (and are kicking themselves now) or are quietly waiting it out to see if it rises again, or

(b) They're working harder than ever to go pump-and-dump.

I still have some, but I made money on it.  Having said that, I'm mostly waiting for it to stop being an 'investment' and instead be what it was intended to be all along: a currency.
 

posted by justincredible

I've known about it since it was in the $10 range, I believe, but never bought early. Kinda forgot about it for 6-7 years and bought in during the big 2017 peak. I think I bought about $1000 worth when it was $15k, so that's down a bit.

If I knew in 2010 what I know now I would've put a large portion of my savings into it and HODL'd. Hindsight being what it is, I wish I would've spent more time learning the fundamentals/utility of it when I first learned about it. I'd be a millionaire many times over right now, while only converting a small portion into fiat.

That said, we're still very early in the life of it, and the last coins won't even be mined for another 120 years. I'm currently DCAing a little bit each week, hoping that it ends up paying off very well in retirement.

I bought 4 BTC back in late 2012.  It was like $50.  I sold before the height of the arc, though.  Still, grand scheme, it worked out.

I honestly don't care if they go back to being valued at $10, so long as they find a point of consistency.  That's when we'll really see its functional value: 'cash' you can spend across the globe'.  As a result, I'm betting you'll see more local businesses accept it, and there will be wallets (likely mobile device apps) developed to work with major mobile OSs so that it's as easy to use as Apple Pay or Android Pay.

But none of that's going to happen until it stops being primarily an "investment," because that's what seems to be causing the volatility.

Bitcoin on a bit of a tumble right now. Dropped below $8600 yesterday. 

posted by justincredible

Bitcoin on a bit of a tumble right now. Dropped below $8600 yesterday. 

Back up near $8900.  A "tumble" is sort of opposite what I might have expected with CV19, except has trading been limited in Asia?  Because I'd expect bitcoin to be where a good bit of Asian money would have gone in the crisis.

Bitcoin (and all other crypto) tanking hard right now. After a 9-10 day lull in the $8XXX range it got back up over $9000 for a few days. It was $9100 on Saturday, woke up to $7800 this morning. So much panic right now.

Potential explanation:

https://twitter.com/RaoulGMI/status/1236975140744937474

It feels like any hedge fund that was long bitcoin is having to liquidate. VAR takes no prisoners. (For those new to VAR it is the measure of risk in a portfolio and is connected to volatility, so as vol goes up of all assets, they have to reduce risk). $BTC #Bitcoin

This morning, while checking my Google Now feed, I ran across three different explanations for it: coronavirus, the PlusToken scam, and the down oil prices.

All that tells me is that the average news outlet has fuck-all idea why.

I may buy a little bit today, depending on where it lands.  We'll see.

I threw a hundo at BTC this morning.

I bought $200 the other day when it was mid-$8k. I'll probably do another $200 or so once it looks like it might be on the way back up. If it weren't for my wife I'd be purchasing a full coin right now.

Down to $6k. Holy moly.

How low should I let it go before I buy? And, I don't even know how to buy...

posted by OSH

How low should I let it go before I buy? And, I don't even know how to buy...

I'm not sure how much lower it'll go. I'll probably throw another $250 at it today. And then throw some more if it drops to $4k or $5k.

The easiest way to buy for beginners, I've heard, is through Cashapp. I use the Gemini Exchange. There is also Coinbase, which is very popular.