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Onceler Samba Member
Joined: May 28, 2010 Posts: 1646 Location: Indiana
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Posted: Mon Dec 11, 2017 9:08 pm Post subject: Bitcoin |
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Just bought $100 worth of Bitcoin. They say if I'd of bought $1000 dollars back in ~2010 I'd be a millionaire today. We'll see what happens, I may have bought in at the peak _________________ 1972 Karmann Ghia |
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Glenn Mr. 010
Joined: December 25, 2001 Posts: 76886 Location: Sneaking up behind you
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Posted: Tue Dec 12, 2017 4:33 am Post subject: Re: Bitcoin |
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And if I bought Microsoft or Amazon 20 years ago, i'd be a billionaire.
Would of, could of. _________________ Glenn
74 Beetle Specs | 74 Beetle Restoration | 2180cc Engine
"You may not get what you pay for, but you always pay for what you get"
Member #1009
#BlueSquare |
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ROCKOROD71 Samba Member
Joined: January 18, 2012 Posts: 2770 Location: Boston, MA
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Posted: Tue Dec 12, 2017 6:43 am Post subject: Re: Bitcoin |
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yup, you are about a decade too late to the party. Who knows, it could possibly go higher, or, it could become worthless overnight when people decide not to accept it for anything. Either way $100 buys you a very small fraction of one Bitcoin.
The real money was in generating Bitcoin. I dunno if you can even do that anymore. Used to be you just needed some dedicated servers and a connection to the TOR network to facilitate transactions.
I knew a hacker type who was on it in about 2008-9 who told me to set up a wallet or start generating. "not worth my time" I think I recall saying. A bitcoin was worth like $3 then. Kick myself everyday over that, but, at the time, it was primarily used to buy drugs, credit card numbers, fake identities, and put hits on people online. No joke you could find a hitman on "the dark web" at that time. I wasn't tryin to be the Web John Gotti at the time so I let it pass.
Now there are restaurants in Cambridge that accept it and a couple of ATMs that let you draw US currency from your Bitcoin account here and there around the city.
Not just for blatant criminals anymore I suppose!
And to think it all blew up from a Magic the Gathering trade website!
What a time to be alive. _________________ 1971 STD BEETLE- DD-1st car, 1st love. keepin' it stock! 1600DP, Solex 34-3 Mexi Bosch SVDA Dist NOW w/POINTS
1977 WESTY "KrustyKamper" 2L FI
79SuperVert wrote: |
30 years from now, the next guy may not want your girlfriend, but he may want your classic car, depending on how nice you were to it. |
asiab3 wrote: |
Careful guys, a petulant child can grow up to be president these days. |
**winter drivers: no survivors!**rust warrior**#keepbodyshopsbusy** |
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hazetguy Samba Member
Joined: April 06, 2001 Posts: 10773 Location: iT StiNgeD iTseLf tO dEAd
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Posted: Tue Dec 12, 2017 7:09 am Post subject: Re: Bitcoin |
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Glenn wrote: |
Would of, could of. |
Would have, could have, should have. _________________ thebucket: I invested in hoodride, now DBD won't return my call?
hazetguy: invested?
thebucket: Yeah Haze, its where people put money into a company in hopes of a return on their money |
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windfish Samba Member
Joined: September 05, 2012 Posts: 1126 Location: NC
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Posted: Tue Dec 12, 2017 7:30 am Post subject: Re: Bitcoin |
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Yep.. a group at my university were having mining competitions, just on their desktop computers. Can't do that anymore, moved from that to graphics card clusters to special purpose-built ASIC boards.
The way it's setup it gets harder to 'mine' each coin as more are 'found', up to a finite number of coins.
I somewhat wish I'd joined in at the time ('free' electricity in the dorms too!), but honestly I probably would have sold when it hit $100
Don't think anyone could have predicted it'd be where it is now, and I don't think anyone can predict when it'll crash. 'cause it will. |
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Glenn Mr. 010
Joined: December 25, 2001 Posts: 76886 Location: Sneaking up behind you
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Posted: Tue Dec 12, 2017 7:47 am Post subject: Re: Bitcoin |
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hazetguy wrote: |
Glenn wrote: |
Would of, could of. |
Would have, could have, should have. |
D'oh _________________ Glenn
74 Beetle Specs | 74 Beetle Restoration | 2180cc Engine
"You may not get what you pay for, but you always pay for what you get"
Member #1009
#BlueSquare |
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EverettB Administrator
Joined: April 11, 2000 Posts: 69801 Location: Phoenix Metro
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iowegian Samba Curmudgeon
Joined: February 16, 2005 Posts: 9829 Location: Somewhere between Dubuque and Keokuk
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Posted: Tue Dec 12, 2017 10:34 am Post subject: Re: Bitcoin |
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I am investing heavily in Cabbage-Patch Kids and Beanie Babies.
(I'm gonna get RICH, I tell ya.) |
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ROCKOROD71 Samba Member
Joined: January 18, 2012 Posts: 2770 Location: Boston, MA
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Posted: Tue Dec 12, 2017 12:01 pm Post subject: Re: Bitcoin |
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iowegian wrote: |
I am investing heavily in Cabbage-Patch Kids and Beanie Babies.
(I'm gonna get RICH, I tell ya.) |
thats the thing, more beanie babies and cabbage patch kids can be made, flooding the market.
The entire concept behind bitcoin was and still is that there is a finite number according to the algorithm used to generate (mine) them. The value has been going up over the last decade as more and more people use them. As the demand for use increases the value of a single bitcoin goes up as it is divvied up more and more for use.
There was already a major crash in them when Mt. Gox, the largest trader, essentially embezzled a shitload of it (they controlled abut 70% of all bitcoin at the time) and boarded up shop basically overnight. Obviously a huge crash in 70% supply didn't kill it, and that was like 5 years ago.
It has merit.
Like any other currency its only good so long as people believe in it and keep using it.
All currency is imaginary and backed by literally nothing. _________________ 1971 STD BEETLE- DD-1st car, 1st love. keepin' it stock! 1600DP, Solex 34-3 Mexi Bosch SVDA Dist NOW w/POINTS
1977 WESTY "KrustyKamper" 2L FI
79SuperVert wrote: |
30 years from now, the next guy may not want your girlfriend, but he may want your classic car, depending on how nice you were to it. |
asiab3 wrote: |
Careful guys, a petulant child can grow up to be president these days. |
**winter drivers: no survivors!**rust warrior**#keepbodyshopsbusy** |
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Derek Cobb Annoying
Joined: March 11, 2004 Posts: 2565
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Posted: Tue Dec 12, 2017 1:33 pm Post subject: Re: Bitcoin |
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Once it gets hacked (and it will eventually get hacked) the value will crash like a drunken Kennedy. |
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Onceler Samba Member
Joined: May 28, 2010 Posts: 1646 Location: Indiana
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Posted: Tue Dec 12, 2017 2:10 pm Post subject: Re: Bitcoin |
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Well, it looks like I should of bought into the other currency's instead cause they're taking off today.
Anyone want to buy $99 worth of bitcoin? lol _________________ 1972 Karmann Ghia |
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Bob Loblaw Samba Member
Joined: August 17, 2008 Posts: 865 Location: Vancouver Island, Canada
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Posted: Tue Dec 12, 2017 2:20 pm Post subject: Re: Bitcoin |
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Onceler wrote: |
Anyone want to buy $99 worth of bitcoin? lol |
$87 worth of Bitcoin? What am I gonna do with $114.50 worth of Bitcoin? _________________ sent from a phone using poor grammar and spelling |
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notchback Insensitive Jerk
Joined: December 16, 2003 Posts: 7024 Location: Behind the Zion Curtain
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Posted: Tue Dec 12, 2017 2:43 pm Post subject: Re: Bitcoin |
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Bob Loblaw wrote: |
Onceler wrote: |
Anyone want to buy $99 worth of bitcoin? lol |
$87 worth of Bitcoin? What am I gonna do with $114.50 worth of Bitcoin? |
Exactly. It moves too fast. I'm a forex day trader and have been playing around with bitcoin in the past month. Because of how it moves, I can't use my standard entrance/exit strategies with it. I found the best thing to do is just leave it in, no matter what way it goes. Right now the trend it up. It may go down a thousand dollars one day and back up in half an hour. I've tried a few different things, but now I'm just leaving it in until it doubles, pulling out, and reinvesting the profits. Now I'm trading twice as much.
Some analysts are saying it could go as high as $85K by the end of 2018. But then again, it could be worth $1.00 in the same time. I've missed enough opportunities, so I'm going with this one. I am not, and will not, mortgage my future on it. If I don't have the available cash sitting around to invest in it, I'm not investing.
Bitcoin is now the largest investment bubble in recorded history, surpassing the 17th century tulip mania.
http://www.zerohedge.com/news/2017-12-12/its-offic...ld-history
As Everett said:
everettB wrote: |
Don't invest anything more than you are willing to lose and you will be ok.
May the odds be ever in your favor. |
_________________
zeen wrote: |
Arguing with johnnypan is like mud-wrestling a pig. After a while you realize he just enjoys playing in the mud, winning the contest is not the point. |
FU#3 |
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Onceler Samba Member
Joined: May 28, 2010 Posts: 1646 Location: Indiana
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Posted: Tue Dec 12, 2017 6:28 pm Post subject: Re: Bitcoin |
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Hey notchback, any thoughts on the next bubble? I was too young for the dot on and too broke for housing, probably too late on the Bitcoin. Just need a few easy million, lol _________________ 1972 Karmann Ghia |
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Manfred58sc Samba Member
Joined: October 05, 2009 Posts: 3382
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Posted: Tue Dec 12, 2017 7:42 pm Post subject: Re: Bitcoin |
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This is actually a unique fusion of 3 experiences 1- communication 2- storing value 3- purchase power . It is a unique hybrid that encompass both abilities found in commodity and fiat currency. It also complies with Aristotles 5 rules of money. It will be wildly unstable at this phase as it attracts new users and the exchanges must be very well examined/regulated. Every crypto coin user is slowly but surely bleeding fiat currency . It is the third wave - first was websites, second social media. These are not my observations BTW, Max Kieser and John MacAffie have correctly analysed / predicted this rise. Very soon wealth will measured against crypto not fiat currency. It only makes sense as a long term investment, again reflected in the current reality of many buyers very few sellers. Hang onto your $100 for 6 months and then buy stuff directly with bitcoin. _________________ Fat chick owner/operator |
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heimlich VWNOS.com
Joined: November 20, 2016 Posts: 6588 Location: Houston, Texas
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Posted: Tue Dec 12, 2017 8:28 pm Post subject: Re: Bitcoin |
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Hold onto it for 20 years and get back to us then. Make sure you store the bitcoin somehow so it can't be stolen. _________________ www.vwnos.com [email protected]
Classic Brands. Classic Quality.
Not all parts are made the same. NOS OE/OEM parts made mainly in West Germany, Early Germany, and Early Brazil are where VW produced the best quality parts and best fitting products.
5% Off your order with coupon code: 5%OFF
Restored Distributors Available (<--Click here) |
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Onceler Samba Member
Joined: May 28, 2010 Posts: 1646 Location: Indiana
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Posted: Tue Dec 12, 2017 8:40 pm Post subject: Re: Bitcoin |
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No problem, I keep all my usernames and passwords under the mattress... _________________ 1972 Karmann Ghia |
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heimlich VWNOS.com
Joined: November 20, 2016 Posts: 6588 Location: Houston, Texas
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Posted: Tue Dec 12, 2017 9:03 pm Post subject: Re: Bitcoin |
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What else do you keep under there? _________________ www.vwnos.com [email protected]
Classic Brands. Classic Quality.
Not all parts are made the same. NOS OE/OEM parts made mainly in West Germany, Early Germany, and Early Brazil are where VW produced the best quality parts and best fitting products.
5% Off your order with coupon code: 5%OFF
Restored Distributors Available (<--Click here) |
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Onceler Samba Member
Joined: May 28, 2010 Posts: 1646 Location: Indiana
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Posted: Tue Dec 12, 2017 9:14 pm Post subject: Re: Bitcoin |
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Just playboys from the 90's, just as valuable _________________ 1972 Karmann Ghia |
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heimlich VWNOS.com
Joined: November 20, 2016 Posts: 6588 Location: Houston, Texas
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Posted: Tue Dec 12, 2017 9:18 pm Post subject: Re: Bitcoin |
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Are they valuable with spots and crinkles? _________________ www.vwnos.com [email protected]
Classic Brands. Classic Quality.
Not all parts are made the same. NOS OE/OEM parts made mainly in West Germany, Early Germany, and Early Brazil are where VW produced the best quality parts and best fitting products.
5% Off your order with coupon code: 5%OFF
Restored Distributors Available (<--Click here) |
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