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

[Mr Anabolic]

He dosen't know shit.
J

I know you cannot get something for nothing.  This is what cryptos are.  Digital fluff.  Bubble mania.

I know this will end badly.

Lastly, I know you have no financial acumen whatsoever.

[FitnessFrenzy]

13.000 bucks!

[gib]

There is NOTHING to get.  It's a Ponzi scam.  Doesn't matter how "high" it goes.

I’ve explained in a prior post why it’s not appropriate to use the term “scam” or “Ponzi” in relation to bitcoin. There is no “perpetrator” or “scammer” in relation to bitcoin because bitcoin is simply a mathematical algorithm. What I think you mean (and this is a lot more understandable) is that bitcoin cannot be valued. I this regard though, I would refer you to gold, which also cannot be valued.

Fact of the matter is this - bitcoin is still a geeky niche investment. But all the wheels are in place for it to go full blown mainstream. And when all the old conservative dudes with serious money decide they want some exposure to crypto - what do you think they will invest into? Yes - bitcoin. You will in 2018 see a flood of cash moving into a supply governed and limited by mathematics leading to massive increases in price.

[gib]

I’ve explained in a prior post why it’s not appropriate to use the term “scam” or “Ponzi” in relation to bitcoin. There is no “perpetrator” or “scammer” in relation to bitcoin because bitcoin is simply a mathematical algorithm. What I think you mean (and this is a lot more understandable) is that bitcoin cannot be valued. I this regard though, I would refer you to gold, which also cannot be valued.

Fact of the matter is this - bitcoin is still a geeky niche investment. But all the wheels are in place for it to go full blown mainstream. And when all the old conservative dudes with serious money decide they want some exposure to crypto - what do you think they will invest into? Yes - bitcoin. You will in 2018 see a flood of cash moving into a supply governed and limited by mathematics leading to massive increases in price.

Oh, and $12,700

[Mr Anabolic]

I’ve explained in a prior post why it’s not appropriate to use the term “scam” or “Ponzi” in relation to bitcoin. There is no “perpetrator” or “scammer” in relation to bitcoin because bitcoin is simply a mathematical algorithm. What I think you mean (and this is a lot more understandable) is that bitcoin cannot be valued. I this regard though, I would refer you to gold, which also cannot be valued.

Fact of the matter is this - bitcoin is still a geeky niche investment. But all the wheels are in place for it to go full blown mainstream. And when all the old conservative dudes with serious money decide they want some exposure to crypto - what do you think they will invest into? Yes - bitcoin. You will in 2018 see a flood of cash moving into a supply governed and limited by mathematics leading to massive increases in price.

You're in Europe somewhere right... so, what are doing up this time in the morning?... to update every $100 gain bitcoin makes?  Your little digs (old conservative dudes) at me make me laugh. 

You can pretend it is anything you want, but human nature never changes.  There is greed and fear.  When the fear starts to dominate, it's over.  No matter what it is, it's never "different this time".  History proves this. 

[Skorp1o]

We created our own Ponzi scheme. Swap Bernie Madoff for whoever is behind it.

People are not analysing the price as to why it goes up and down...etc and no one really can as Bitcoin has no real value unlike an apple share which you can link to underlying assets, sales performance, management team...etc . They just want a portion of the gains and as long as there's new entrants at the bottom of the pyramid, the people at the top of the pyramid (large coin holders) are getting rich. A pyramid scheme.

Am I in crypto? Yes, just like I am into putting money on fights, games and races...money thrown into the hat as a punt.

[ratherbebig]

but the scheme need to stop at somewhere and people need to cash out or lose it all, when is this going to happen?

[robcguns]

but the scheme need to stop at somewhere and people need to cash out or lose it all, when is this going to happen?

No one knows but it seems from everything I’m reading 2018 will be a huge year for bitcoin.Bubble maybe but who knows when it will burst.

[gib]

You're in Europe somewhere right... so, what are doing up this time in the morning?... to update every $100 gain bitcoin makes?  Your little digs (old conservative dudes) at me make me laugh. 

You can pretend it is anything you want, but human nature never changes.  There is greed and fear.  When the fear starts to dominate, it's over.  No matter what it is, it's never "different this time".  History proves this. 

I spend my time in various parts of the world. This week and a half I’ve been in Thailand, Hong Kong, Korea and Singapore. Back to Europe next week - international man of mystery hence my strange times posting here.

I’m glad you like my digs because they genuinely are supposed to be funny. Zero malicious intent from me, so I hope you take it that way.

I agree with your comments on human nature never changing - and indeed I have exploited that phenomenon very successfully in the past. Indeed it is the fundamental to being a value investor - ie being able to identify fair value and then buy (or not buy) based on that asset being over or under valued.

Back to the Ponzi/scam discussion. Please explain why in your view gold or silver are not Ponzi/scam whereas bitcoin is?

[Soul Crusher]

The IRS is going to F all these people soon. 

[Dave D]

So we invest in bitcoin as a currency with a value that is constantly changing?

People don't actually spend bitcoin because it's always increasing in value?

Am I understanding this correctly?

[gib]

The IRS is going to F all these people soon. 

Answer is no for vast majority of people and for most countries in the world. But for you special Americans, yes
maybe. Having said that, if you really have made enough such that the IRS takes notice, then it’s probably a
nice problem to have.

[polychronopolous]

At Uphold’s Currency Exchange, Now Americans Can Easily Convert USD to Dash



by EZRA DULIS6 Dec 20171
I just “bought” my first .1 Dash about five minutes ago on a currency exchange you may not have heard of.
Meet Uphold, an exchange for both fiat and digital currencies — and even precious metals. Uphold announced Tuesday that the company now includes Dash (digital cash) in its lineup.

I first heard of Uphold as an exchange for Brave’s Basic Attention Token (BAT), which you can use in the Brave browser to support your favorite sites and YouTubers directly. Brave has since added a simple, step-by-step guide for loading funds into the browser so it can calculate where to send tokens (now worth about 19 cents apiece) based on where you spend most of your time online. As an early adopter of BAT, Uphold is helping reform the busted world of online ads — where a sizeable chunk of your time, data, and thus money goes toward loading irrelevant and often malicious content (see: the BAT white paper, p. 4, section 2.2).

Since that first impression, Uphold has continued to impress — as I have looked for ways to exchange USD -> Dash and hit roadblocks every time. I guess you can on Kraken, if you don’t mind having the lack of ACH functionality. It only means that you give them your bank info, then you “initiate” a deposit, then they give you a reference number… so you have to call up your bank and give them Kraken’s info to wire it — for a pretty big fee.

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Then there are a bunch of peer-to-peer services out there, but I don’t really want the crapshoot of searching for a new seller every time, especially if I’m going to do multiple exchanges a month for dollar cost averaging.

So, like I said, I just acquired Dash with a simple bank transfer — and my fee was only $.46. Uphold is halving their fee rate to welcome Dash into their stable of currencies; normally it’s 1.25% but for a short time it will only be .625%. Yet even the normal rate is lower than their big competitors.

What else can you exchange at Uphold?

Right now, the site also lets you exchange your local fiat currency for Bitcoin, Litecoin, Ethereum, BAT, and Bitcoin Cash. You can also buy gold, silver, platinum, and palladium. They accept and exchange the fiat currencies of Argentina, Australia, Brazil, Canada, China, Denmark, the UAE, Hong Kong, India, Israel, Japan, Kenya, Mexico, New Zealand, Norway, the Philippines, Poland, the UK, Singapore, Sweden, Switzerland, and the USA.

In case you’re wondering: This is not a sponsored article; I have never spoken with anyone at Uphold; and, as far as I know, they have no referral program like Coinbase. I’m just sharing my personal experience with the service.

Why do I keep pushing Dash?

Well, until today, I didn’t have any stake in Dash, but I’ve written about it before because I see a lot of future potential. All digital currencies are still in their infancy — and Bitcoin is showing us that the technology is not quite ready for full-scale adoption. Dash seems like a well-designed system for long-term growth and development; I keep explaining it to people as the constitutional republic to Bitcoin’s anarchist paradise — three “branches” imbued with complementary powers that can check each other.

With Bitcoin, every time the blockchain gets another block, the block processes transfers between users and miners get 100% of the fees and unlocked coins. There is only a financial incentive to mine Bitcoin — or to exchange USD for Bitcoin and watch it rise in value (referred to as “hodling”).

But with Dash, there is a financial incentive to mine, to invest, and — most importantly — to code. The block rewards for Dash go: 45% to miners, 45% to masternodes (why just hodl when you can “nodl”?), and 10% to developers.

The volunteers working on Bitcoin Core are likely very motivated to be a part of history and to make sure that their existing investment scales and improves, but they are not regularly and directly receiving new coins for their work. The Dash Core team is a traditional company with over 50 employees, and with the recent spike in Dash’s value, they have a monthly budget worth millions of dollars for payroll, marketing, and other expenses.

I wouldn’t personally dump my Bitcoin for Dash — there won’t (and shouldn’t) be a monopoly on blockchain currencies once they come into mass adoption. Based on what I’m seeing right now, it seems like Bitcoin and Monero are going to become everyone’s savings accounts while Dash, Litecoin, Zcash, and Ripple will compete to be their checking accounts. But of course, I’m just a layman, not a financial professional, and you shouldn’t buy any product I write about based on my opinions — it’s not financial advice!

[robcguns]

Answer is no for vast majority of people and for most countries in the world. But for you special Americans, yes
maybe. Having said that, if you really have made enough such that the IRS takes notice, then it’s probably a
nice problem to have.

Exactly,I don’t understand everyone saying the irs is gonna fuck you?Doesnt the Its fuck you all the time on taxes when making money?what else is new?

[Soul Crusher]

Once the 1099s start flying . . .

[SOMEPARTS]

A buddy of mine says he wants to put half his 401k in the new Bitcoin IRA. It's REALLY getting frothy out there.

[HTexan]

https://techcrunch.com/2017/12/03/people-have-spent-over-1m-buying-virtual-cats-on-the-ethereum-blockchain/
God help the human race. 

[Zillotch]

God help the human race.  :-

lol... for what? pretty sure he's washed his hands of human tards.. and who can blame him

[SOMEPARTS]

Heading to 14k.

[Mr Anabolic]

Heading to 14k.

Moving +/- $300 in seconds now.  I guess it has to do that to continue the same % gains when it was $500.  Look at the weekly chart... total parabola.  That is never a good thing.   This thing is going to blow up and many "investors" are going to wish they sold high.  Just a speculative gambling casino now.

[JAGO]

Moving +/- $300 in seconds now.  I guess it has to do that to continue the same % gains when it was $500.  Look at the weekly chart... total parabola.  That is never a good thing.   This thing is going to blow up and many "investors" are going to wish they sold high.  Just a speculative gambling casino now.

Why don't you go change your mini-pad "hun" and leave the money talk to the men.

J

J

[Mr Anabolic]

So we invest in bitcoin as a currency with a value that is constantly changing?

People don't actually spend bitcoin because it's always increasing in value?

Am I understanding this correctly?

Yes, that's basically it.  They're all certain it's going to $1 million, then they'll all sell at the top together.  

But what is really going to happen is, the exchanges/sell orders will lock up and no one will be able to exit.  The price will cascade many $1000's below where it is now.   Should be quite an event when it happens.  

[Mr Anabolic]

Why don't you go change your mini-pad "hun" and leave the money talk to the men.
J

"Money"?  LOL!

A poor little millennial snowflake like you doesn't know what real money is.

Another bozo who won't sell.  You're going to regret it.

[robcguns]

Yes, that's basically it.  They're all certain it's going to $1 million, then they'll all sell at the top together.  

But what is really going to happen is, the exchanges/sell orders will lock up and no one will be able to exit.  The price will cascade many $1000's below where it is now.   Should be quite an event when it happens.  

Yeah but it’s a fun ride.Win or lose I’m having a good time.Then again I’m a gambler.

[gib]

Moving +/- $300 in seconds now.  I guess it has to do that to continue the same % gains when it was $500.  Look at the weekly chart... total parabola.  That is never a good thing.   This thing is going to blow up and many "investors" are going to wish they sold high.  Just a speculative gambling casino now.

It’s a great thing for those who are invested. It’s not a good thing for those who are not yet, as they are losing out on gains. As I have explained before, for various reasons, btc could go much much higher.

Oh and $12,800