Getbig Bodybuilding, Figure and Fitness Forums
November 22, 2017, 10:08:04 AM *
Welcome, Guest. Please login or register.

Login with username, password and session length
 
   Home   Help Login Register  
Pages: 1 ... 12 13 [14] 15 16 ... 19   Go Down
  Print  
Author Topic: Bitcoins - about to hit $5,000 per coin today!  (Read 20361 times)
gib
Getbig IV
****
Posts: 2248


Getbig!


« Reply #325 on: November 03, 2017, 09:01:28 PM »

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.
Report to moderator   Logged
SOMEPARTS
Getbig IV
****
Posts: 3001



« Reply #326 on: November 03, 2017, 09:04:51 PM »

At the rate it is rising - not hitting 10k by year end would be a disappointment and scare some of you gamblers off.
Report to moderator   Logged
gib
Getbig IV
****
Posts: 2248


Getbig!


« Reply #327 on: November 03, 2017, 09:34:00 PM »

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.
Report to moderator   Logged
SOMEPARTS
Getbig IV
****
Posts: 3001



« Reply #328 on: November 03, 2017, 10:31:21 PM »

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.
Report to moderator   Logged
SOMEPARTS
Getbig IV
****
Posts: 3001



« Reply #329 on: November 04, 2017, 12:18:03 AM »

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....
Report to moderator   Logged
gib
Getbig IV
****
Posts: 2248


Getbig!


« Reply #330 on: November 04, 2017, 03:21:32 AM »

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.
Report to moderator   Logged
Griffith
Getbig IV
****
Posts: 3468


....


« Reply #331 on: November 04, 2017, 04:52:18 AM »

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.

Report to moderator   Logged
Mr Anabolic
Getbig V
*****
Gender: Male
Posts: 7893


"If you don't have it... then don't hit it"


« Reply #332 on: November 04, 2017, 05:41:51 AM »

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?   Roll Eyes 

$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.   
Report to moderator   Logged
HTexan
Getbig V
*****
Gender: Male
Posts: 18804


Heath must lose!!


« Reply #333 on: November 04, 2017, 07:47:07 AM »

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. 
Report to moderator   Logged

A
jr
Getbig IV
****
Posts: 3794


No homo of peace


« Reply #334 on: November 04, 2017, 12:37:16 PM »

It does not have any worth or intrinsic value.  


I think it does have some intrinsic value in the technology.

One example is that you can send value across the world directly peer to peer in a trustworthy way, without involving banks or other private companies like visa or western union, etc. Direct from one individual to another in minutes with low fees.

Can you think of any other method of doing this? You can do this with cash and gold, but only in person using your hands, can't send cash or gold directly to someone overseas without involving third parties.

Another is with bitcoin you don't have to worry about theft, storing, securing or hiding them like with cash or gold, as they exist on the internet and only the person with the private keys can move bitcoin from one address to another.
Report to moderator   Logged
SOMEPARTS
Getbig IV
****
Posts: 3001



« Reply #335 on: November 04, 2017, 05:16:07 PM »

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.
Report to moderator   Logged
gib
Getbig IV
****
Posts: 2248


Getbig!


« Reply #336 on: November 04, 2017, 07:57:42 PM »

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.
Report to moderator   Logged
gib
Getbig IV
****
Posts: 2248


Getbig!


« Reply #337 on: November 04, 2017, 08:55:09 PM »

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?   Roll Eyes 

$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.
Report to moderator   Logged
gib
Getbig IV
****
Posts: 2248


Getbig!


« Reply #338 on: November 05, 2017, 04:32:05 AM »

7500...
Report to moderator   Logged
Griffith
Getbig IV
****
Posts: 3468


....


« Reply #339 on: November 05, 2017, 12:23:42 PM »

What about ethereum?
Report to moderator   Logged
HTexan
Getbig V
*****
Gender: Male
Posts: 18804


Heath must lose!!


« Reply #340 on: November 05, 2017, 12:32:16 PM »

What about ethereum?
IMO Ethereum is better then bitcoin but bitcoin is the gold standard. If bitcoin fails, it will hurt all cryptocurrencies.
Report to moderator   Logged

A
gib
Getbig IV
****
Posts: 2248


Getbig!


« Reply #341 on: November 05, 2017, 03:08:11 PM »

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

Yes agree. Bitcoin has the gravitational mass and is both the entry point for any crypto buyer as well as where all the big money will flow to when it comes. It also has the most significant infrastructure built around it in terms of adoption. I'm 100% btc, but a slightly less conservative approach might be 75% btc and 25 eth. An even less conservative approach is something like 60% btc , 30% eth, 10% other. But again I think btc is where it's at for the coming decade.
Report to moderator   Logged
SOMEPARTS
Getbig IV
****
Posts: 3001



« Reply #342 on: November 07, 2017, 12:06:09 PM »

Yeah, Ethereum is great:

http://www.zerohedge.com/news/2017-11-07/ethereum-slides-after-coding-bug-freezes-wallets-containing-280-million


Gib avoiding my last post like Shizzo avoids sobriety checkpoints.
Report to moderator   Logged
The Keto Kid
Getbig III
***
Posts: 600


« Reply #343 on: November 08, 2017, 10:44:29 AM »

Up 10.3% since yesterday wtf?? I've almost tripled my initial investment in little over a month!
Report to moderator   Logged
Rascal full
Getbig IV
****
Gender: Male
Posts: 2356


« Reply #344 on: November 08, 2017, 11:27:19 AM »

Why are there only a set amount of Bit coins that can be 'mined?' I don't understand this and not sure whether that is factual information or not. Can someone tell me please?
Report to moderator   Logged
jr
Getbig IV
****
Posts: 3794


No homo of peace


« Reply #345 on: November 08, 2017, 12:20:33 PM »

Why are there only a set amount of Bit coins that can be 'mined?' I don't understand this and not sure whether that is factual information or not. Can someone tell me please?

The developers of bitcoin want it to be a finite resource like gold.

It is in the bitcoin software code, 21 million coin maximum:

https://github.com/bitcoin/bitcoin/blob/08a7316c144f9f2516db8fa62400893f4358c5ae/src/amount.h


Report to moderator   Logged
gib
Getbig IV
****
Posts: 2248


Getbig!


« Reply #346 on: November 08, 2017, 03:50:02 PM »

$7600 ...
Report to moderator   Logged
gib
Getbig IV
****
Posts: 2248


Getbig!


« Reply #347 on: November 08, 2017, 04:58:36 PM »

Why are there only a set amount of Bit coins that can be 'mined?' I don't understand this and not sure whether that is factual information or not. Can someone tell me please?

Yes. There is a mathematical limit as to how much can ever be mined. As opposed to the USD which can be printed in unlimited amounts (just effectively stealing from the people by devaluing their savings and giving money to those closest to those in power eg banks, Politicians, military). This is why people are increasingly putting their assets into bitcoins and why more are accepting bitcoins as payments. And this is why bitcoins will rapidly increase in value vs the USD which will decrease.
Report to moderator   Logged
gib
Getbig IV
****
Posts: 2248


Getbig!


« Reply #348 on: November 08, 2017, 09:09:35 PM »


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.

Wasn't ignoring your post. But here you go - hope this help - https://www.coindesk.com/information/comparing-litecoin-bitcoin/ The tech on bit coin is fine (can and was also modified to create new coins - Bitcoin Cash for example, that addresses transaction speed).

Not sure what the relevance is of your belief in who invented Bitcoin.
Report to moderator   Logged
El Diablo Blanco
Getbig V
*****
Posts: 28801


Nom Nom Nom Nom


« Reply #349 on: November 09, 2017, 07:46:32 AM »

Crazy how high itís going. Who are the billionaire buying this up to run the price high?
Report to moderator   Logged
Pages: 1 ... 12 13 [14] 15 16 ... 19   Go Up
  Print  
 
Jump to:  

Theme created by Egad Community. Powered by MySQL Powered by PHP Powered by SMF 1.1.20 | SMF © 2013, Simple Machines Valid XHTML 1.0! Valid CSS!