Bitcoins - about to hit $5,000 per coin today!

[Griffith]

Dear friends,

I really can't be bothered spending hours reading up about bitcoin, but I'd be interested in purchasing one just out of curiosity. Where do I start? I'm in the UK - any respected website I can go to and just purchase one with minimal fuckery involved? Pls halp!

You don't have to buy a full Bitcoin.

I bought a few hundred dollars worth on Luno just to have a wallet at least, they have a phone app too.

[HTexan]

Dear friends,

I really can't be bothered spending hours reading up about bitcoin, but I'd be interested in purchasing one just out of curiosity. Where do I start? I'm in the UK - any respected website I can go to and just purchase one with minimal fuckery involved? Pls halp!

Minimal fuckery? Download bread wallet for your phone, and go to a bitcoin atm in your area and buy with cash. The fees are a little higher. Or you can download Coinbase and buy from there, but you need to add your banking info to buy coins.

https://breadapp.com
https://coinatmradar.com/country/225/bitcoin-atm-united-kingdom/
https://www.coinbase.com/buy-bitcoin?locale=en-US

[Griffith]

Minimal fuckery? Download bread wallet for your phone, and go to a bitcoin atm in your area and buy with cash. The fees are a little higher. Or you can download Coinbase and buy from there, but you need to add your banking info to buy coins.

https://breadapp.com
https://coinatmradar.com/country/225/bitcoin-atm-united-kingdom/
https://www.coinbase.com/buy-bitcoin?locale=en-US

With Luno you pay the money into their account which then goes into your wallet to buy bitcoins with, this is an option for those who don't want to put their full bank details up.

[Meta-physical]

Evo, HTexan, Griffith: thanks for the help. I've a little bit of surplus cash sitting in the bank, and it isn't much use in an ISA. I'll go ahead and buy a bitcoin (or a chunk of one) and see what happens.

[SF1900]

Evo, HTexan, Griffith: thanks for the help. I've a little bit of surplus cash sitting in the bank, and it isn't much use in an ISA. I'll go ahead and buy a bitcoin (or a chunk of one) and see what happens.

Invest in Caliber Fitness Solutions.

[Powerlift66]

I use coinbase to buy,and xfer to blockchain... (Coinbase will close your account if the suspect anything unethical). Once in Blockchain, you can do what you want (for now at least).

[Meta-physical]

Invest in Caliber Fitness Solutions.

Given the phenomenal success of Vince's recent YouTube venture, this may be a very wise investment indeed! If Vince Goodrum, CSN, MFT, HPP, CEO is prepared to accept the video request that I proposed earlier, then I would be happy to stop reporting his channel and talk business with him instead.

[HTexan]

With Luno you pay the money into their account which then goes into your wallet to buy bitcoins with, this is an option for those who don't want to put their full bank details up.

Really? sweet I’ll check them out.

Evo, HTexan, Griffith: thanks for the help. I've a little bit of surplus cash sitting in the bank, and it isn't much use in an ISA. I'll go ahead and buy a bitcoin (or a chunk of one) and see what happens.

FYI the price of bitcoins in high right now. You might be better off waiting to see if the price drops or invest in something less risky.

[gib]

Really? sweet I’ll check them out.
FYI the price of bitcoins in high right now. You might be better off waiting to see if the price drops or invest in something less risky.

Huh? I know you mean well, but how can you conclude that the price is high right now? So tell me how do you value a Bitcoin to conclude its "high". Others would say that if you understand what will happen next few years with the decentralisation of money, that btc price is an absolute bargain right now.

[HTexan]

I use coinbase to buy,and xfer to blockchain... (Coinbase will close your account if the suspect anything unethical). Once in Blockchain, you can do what you want (for now at least).

Coinbase has shitty customer support too. I transfer most of my stuff from there in a hurry.

Huh? I know you mean well, but how can you conclude that the price is high right now? So tell me how do you value a Bitcoin to conclude its "high". Others would say that if you understand what will happen next few years with the decentralisation of money, that btc price is an absolute bargain right now.

Very true. Nope. No one knows. Hell prices could be 10 grand tomorrow. The thing is bitcoin is only worth what people are will pay for it. IMO it is a good investment. I wish I bought more years go. I thought the price was high then too. Lol

[gib]

Coinbase has shitty customer support too. I transfer most of my stuff from there in a hurry. Very true. Nope. No one knows. Hell prices could be 10 grand tomorrow. The thing is bitcoin is only worth what people are will pay for it. IMO it is a good investment. I wish I bought more years go. I thought the price was high then too. Lol

Yep agree. Will surely get a huge amount of publicity when it hits the 10K mark. Wouldn't surprise me if it hits 10k by end of the year.

Yes don't we all wish we had bought more. Still it's early days in my opinion. We could see some real mass adoption over the next few years. With the mathematical limit on coins and more wanting in is obvious the price will keep rising.

[SOMEPARTS]

At the rate it is rising - not hitting 10k by year end would be a disappointment and scare some of you gamblers off.

[gib]

At the rate it is rising - not hitting 10k by year end would be a disappointment and scare some of you gamblers off.

Haha. Well of course once invested in everyone would like to see it rise. But i agree it's really nonsense to make forecasts about specific future valuations on dates. What one can forecast though is whether over the long term bitcoins will go up, or become worthless. Those are the two basic long term scenarios. Either it does go mainstream and revolutionise the way we transact and the way we store value, or it becomes entirely worthless. If the former scenario occurs every single person who owns a single
Bitcoin will be in extreme positions of wealth and power and very wealthy indeed.

[SOMEPARTS]

At 10k I would have to say I would sell half of what I had. I assume people who are holding that bought for $400-600 last year aren't the same people buying at 7k. That's where I have an issue. It's pure speculation based on the newcomer's influx of money. Last year I was watching it and was curious if it would run at parity with gold. When it blasted past that to maybe 3200 or 3300 I thought that was nuts. It was making higher highs and higher lows but 10k is such a mental barrier number I wonder who cashes at that point. You have to ask yourself about the sloshing of money out there trying to find gains in ZIRP enviroment as well as hot money from Asia. If things change...will people hold or run for the exits? That's what dictates if it will have staying power or go to zero IMO.

[SOMEPARTS]

I am a crypto doubter but I am curious about Litecoin. Second in market cap and probably the first to benefit if BTC has a catastrophic issue. Of course the price looks at lot better than BTC as well....

[gib]

I am a crypto doubter but I am curious about Litecoin. Second in market cap and probably the first to benefit if BTC has a catastrophic issue. Of course the price looks at lot better than BTC as well....

Suggest you consider Bitcoin as #1. We will see an infinate number of crypto coins created but ultimately there will be a single major and dominant currency. At the gravitational pull indicates it will be bitcoin. (Remember Betamax vs VHS? Or Friendster vs Facebook? Or Getbig vs Bodybuilding.com? (Ok the latter is a joke, but you get the point).

If you are interested in cheaper alternatives suggest you consider a derivative of Bitcoin called Bitcoin Cash.

[Griffith]

Suggest you consider Bitcoin as #1. We will see an infinate number of crypto coins created but ultimately there will be a single major and dominant currency. At the gravitational pull indicates it will be bitcoin. (Remember Betamax vs VHS? Or Friendster vs Facebook? Or Getbig vs Bodybuilding.com? (Ok the latter is a joke, but you get the point).

If you are interested in cheaper alternatives suggest you consider a derivative of Bitcoin called Bitcoin Cash.

What are your views on a potential 'speculative attack' on Bitcoin?

Either by large banks or governments? They do it on currencies, forcing them to crash and buy cheap or simply to do political or economic damage.

[Mr Anabolic]

What are your views on a potential 'speculative attack' on Bitcoin?

Either by large banks or governments? They do it on currencies, forcing them to crash and buy cheap or simply to do political or economic damage.

Speculative is the key word.  Bitcoins are nothing more than digital vaporware.  It does not have any worth or intrinsic value.  Notice how they are called "coins" and are gold in color... gee, I wonder why that is?    

$7000 for digital vaporware coin.  This is the bubble of all bubbles.  When it pops (and it eventually will), billions of dollars in wealth will disappear and the majority of bitcoin "investors" will be wailing and gnashing their teeth.   

[HTexan]

What are your views on a potential 'speculative attack' on Bitcoin?

Either by large banks or governments? They do it on currencies, forcing them to crash and buy cheap or simply to do political or economic damage.

Well the us government is thinking about making their own cryptocurrency, kind of defeats the point of bitcoin. 

[SOMEPARTS]

Well the us government is thinking about making their own cryptocurrency, kind of defeats the point of bitcoin. 

That's the point I make is that it is an active speculative instrument, it is not digital gold. There has to be an exit point if you believe the tech is revolutionary, because BTC is flawed and should be replaced by a better platform. Will it be replaced by a bank/govt coin? Probably. When have the people ever beat the banks at their own game? Never...because the govts act on their behalf. Guess who invented SHA256, which is the backbone of Bitcoin? The N S A...yes that one. Given that the "guy" that invented Bitcoin doesn't even exist, who do you think implemented all this?

As for the comparison of Litecoin to Bitcoin as Gib said - Betamax to VHS...not exactly true. Beta was the better version but the adoption of VHS was in part due to Sony being stupid with their platform and being outmaneuvered by JVC. In no way did the consumer decide the outcome on that it was all behind the scenes.

Litecoin already has the tech fixes in place that Bitcoin needs and it doesn't run on SHA256. I did some research on segwit, lightning and 4x hash rates and all that and it would seem that BTC is going to have a hard time adopting these huge changes without issues. Not to mention the developer has a real name and he came from Google. In tech everything can change very quickly. This is software after all, how old is the oldest version of software on any device you own? A few years at most usually. I think sitting on a lot of Bitcoin is a very big risk indeed, just as I would with any single speculative vehicle.

[gib]

What are your views on a potential 'speculative attack' on Bitcoin?

Either by large banks or governments? They do it on currencies, forcing them to crash and buy cheap or simply to do political or economic damage.

Right now it's not possible to attack Bitcoin, as there are not any feasible derivatives to enable one to "short" Bitcoin. Any buying will push up price. And mass sell-off would cost a bank big time and be pointless as eventually price would bounce back. It would be possible to cause short term volatility though (either by rapid large scale buying and selling). I believe this is happening already. Short term it causes price volatility but long term the price direction will remain upwards.

[gib]

Speculative is the key word.  Bitcoins are nothing more than digital vaporware.  It does not have any worth or intrinsic value.  Notice how they are called "coins" and are gold in color... gee, I wonder why that is?    

$7000 for digital vaporware coin.  This is the bubble of all bubbles.  When it pops (and it eventually will), billions of dollars in wealth will disappear and the majority of bitcoin "investors" will be wailing and gnashing their teeth.   

You do realise that USD notes are simply worthless pieces of paper to which we attribute some kind of value to because it has a number printed on it right? ($10, $20 etc). And you do realise that the Government can print literally an infinate amount of these right? The USD is "paperware". Bitcoin is on the other hand truely limited in its supply due to its algorithm. And so it's value cannot be stolen or diluted by the Government. It is for this reason that more and more people are putting their trust into bitcoins rather than old fashioned and outmoded pieces of paper. We will look back in time and think how rediculous it was to use paper as a currency and how much of a scam this was on society.

[gib]

7500...

[Griffith]

What about ethereum?

[HTexan]

What about ethereum?

IMO Ethereum is better then bitcoin but bitcoin is the gold standard. If bitcoin fails, it will hurt all cryptocurrencies.