Bitcoin

bobbyw8469 · #1 06-29-2018, 11:08 AM

I knew from the beginning it was bad...when you aren't back by ANYTHING, well....that's what you get......it was backed by pure speculation.

Mountaineer1999 · #2 06-30-2018, 08:29 AM

$6400. I say buy now and ride it back up. Start out with .1 share and average in over the next 10 months.

bbcard1 · #3 07-08-2018, 08:08 AM

There are a couple pretty good podcasts covering the basics. I wish I would have gotten into it. It is the kind of thing that would have appealed to me. I think it has a lot of the warning signs of the dutch tulip crash, but then again so do baseball cards and that doesn't stop me from spending money on them.

ALR-bishop · #4 07-08-2018, 09:04 AM

Except you can hold baseball cards in you hand and look at them when they are going down in value

Peter_Spaeth · #5 12-06-2018, 07:47 PM

Update -- Bitcoin is now at 3350 or so, off its high near 20K. I assume the people who were enthusiastically recommending it in this and at least one other thread feel differently now. I think packs called it just right -- to me it never seemed on the up and up, the price rise was just too meteoric and unexplained.

Republicaninmass · #6 12-06-2018, 08:23 PM

Now it looks like a steal

Much like the baseball card run up!

Leon · #7 12-07-2018, 09:31 AM

There is nothing real about bitcoin so it won't surprise me of its eventual demise. Seems more like a pyramid scheme than anything, to me. Good luck to those investing in it, you will need it.

Quote:

Originally Posted by Peter_Spaeth

Update -- Bitcoin is now at 3350 or so, off its high near 20K. I assume the people who were enthusiastically recommending it in this and at least one other thread feel differently now. I think packs called it just right -- to me it never seemed on the up and up, the price rise was just too meteoric and unexplained.

bbcard1 · #8 12-07-2018, 01:36 PM

I wish I had gotten into it early. It's the kind of thing I would have enjoyed the mining aspect.

While it is a fiat currency backed by nothing more than faith, you could argue the dollar isn't much more than that. I had a lot of young guys in my office who wanted to invest in it, but I tried to dissuade them. I think it was at $12K when they were thinking about it...

One thing it has done is popularize blockchain which I think will revolutionize security over the next couple of years.

I do like silver and gold at their current price levels, but I don't think there's going to be a dramatic run up.