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Forums - PC Discussion - i just bought 100 dollars in bit coin stuff, now what?

Slownenberg said:
HoloDust said:

There is a reason why "greater fool theory" is called that way.

Bitcoin is currently in its Mania phase on diagram, that's the reason why it's gaining so much "value". But, it's just another bubble.

Now, as somone who profited in life from some bubbles, I'm really entertained by people saying that something will just keep rising, especially when certain something shows all the signs of bubble.

But as I said, some people will get very rich (many already have), and many, many others will loose a lot of money.

There is future in blockchain, it's just not Bitcoin and all other private unregulated currencies (not that any of them are currency to begin with).

Something like FedCoin/BitDollar will come and then that will actually be money.

Like I said, I feel awful for the person giving the bad advice (you, here) and the people who will listen to it.

Bitcoin is not in its mania phase haha, far faaaaaar from it. It is still in its smart money phase (i.e. most people haven't even heard of it yet, let alone have any money in it, and most people who have heard of it only hear about it when its making news for going up so much and so everytime those people hear about it they claim its in a bubble, no matter how many times it goes up, the "bubble" pops temporarily, and then it keeps heading higher. Institutional investors haven't even started getting into it yet, let alone the public heavily adopting it. It is still incredible niche, hardly anyone has bitcoin yet on the global scale. Its going up so quickly because it is at the very bottom of the exponential curve.

Wait a couple years, until any investment firm worth anything allows people to buy bitcoin through them and people start to view having bitcoin as a normal part of their investment portfolio. Price will be at the very least several tens of thousands if not over a hundred thousand dollars a coin by then, and still heading skyward.

Yeah, just like i said, I'm indefinitely entertained by the likes of you.



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Chrizum said:

Made over 100k investing in cryptocurrencies (mostly Ethereum and Bitcoin) in less than a year. Not saying I wasn't a little lucky with my timing, 'cause I was. But still, cryptocurrencies aren't going to disappear all of a sudden, there is a lot of future in blockchain technology. Many financial and tech-related companies are already heavily invested in it.

Might I ask, what was your initial investment(s)?



Xen said:
Chrizum said:

Made over 100k investing in cryptocurrencies (mostly Ethereum and Bitcoin) in less than a year. Not saying I wasn't a little lucky with my timing, 'cause I was. But still, cryptocurrencies aren't going to disappear all of a sudden, there is a lot of future in blockchain technology. Many financial and tech-related companies are already heavily invested in it.

Might I ask, what was your initial investment(s)?

About 8k initially. A little more after I invested a part of my profits. Definitely not more than 10k in total though.

When I started investing in Ethereum, 1 ETH was worth about €10. Now it's worth €260 (after falling from over €350 in June).



BraLoD said:
spurgeonryan said:

How much does this LoD cost?

 

Read in the news today,  a respected bit coin analyst predicts bit coin to get to 15,000. Maybe I should keep buying. 

That depends, an used good condition greatest hits label version can go for like 20~25 bucks, an original sealed copy could get to about between those 100 bucks and it plus its twin brother.

lol



BraLoD said:
Insidb said:

lol

If you have time to lol go get some LoD as well.

Step it up.

Dude, that was hilarious lol.



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BraLoD said:
Insidb said:

Dude, that was hilarious lol.

My bad.

Or was it?



Tis a shame you invested about 3 days too late to take advantage of the Bitcoin Cash split.

"If I own Bitcoin, do I automatically own Bitcoin Cash too?
Anyone who held Bitcoin at the time Bitcoin Cash was created became owners of Bitcoin Cash. This means that Bitcoin holders as of block 478558 (August 1st, 2017 about 13:16 UTC) have the same amount of Bitcoin Cash as they had Bitcoin at that time. If your Bitcoins are stored by a third party such as an exchange, then you must inquire with them about your Bitcoin Cash.

Any transactions after the August 1st ledger split are completely separate between Bitcoin and Bitcoin Cash. This means any Bitcoin acquired after the split does not include any Bitcoin Cash, and any Bitcoin Cash does not include any Bitcoin."

https://www.bitcoincash.org/

Bitcoin cash is at around 640 dollars per coin right now. 



Chrizum said:
Xen said:

Might I ask, what was your initial investment(s)?

About 8k initially. A little more after I invested a part of my profits. Definitely not more than 10k in total though.

When I started investing in Ethereum, 1 ETH was worth about €10. Now it's worth €260 (after falling from over €350 in June).

Looks like it would be a good time to cash out before the next bubble pops.  Do you report your profits on your taxes?  I assume one could keep it a secret but if you use major trading sites like Coinbase I believe they might report your activities to the IRS (not sure).



sethnintendo said:
Chrizum said:

About 8k initially. A little more after I invested a part of my profits. Definitely not more than 10k in total though.

When I started investing in Ethereum, 1 ETH was worth about €10. Now it's worth €260 (after falling from over €350 in June).

Looks like it would be a good time to cash out before the next bubble pops.  Do you report your profits on your taxes?  I assume one could keep it a secret but if you use major trading sites like Coinbase I believe they might report your activities to the IRS (not sure).

In the Netherlands you don't have to report profits, just your holdings. And yes, of course I report them. I am pro taxes plus I don't want to be a criminal.

I've been slowly cashing out and will do that for the coming months. Crypto may just have changed my life in a financial sense. Could retire early if I play my cards right, travel the world, etc. I realize I am a lucky son of a bitch.



sethnintendo said:

Tis a shame you invested about 3 days too late to take advantage of the Bitcoin Cash split.

"If I own Bitcoin, do I automatically own Bitcoin Cash too?
Anyone who held Bitcoin at the time Bitcoin Cash was created became owners of Bitcoin Cash. This means that Bitcoin holders as of block 478558 (August 1st, 2017 about 13:16 UTC) have the same amount of Bitcoin Cash as they had Bitcoin at that time. If your Bitcoins are stored by a third party such as an exchange, then you must inquire with them about your Bitcoin Cash.

Any transactions after the August 1st ledger split are completely separate between Bitcoin and Bitcoin Cash. This means any Bitcoin acquired after the split does not include any Bitcoin Cash, and any Bitcoin Cash does not include any Bitcoin."

https://www.bitcoincash.org/

Bitcoin cash is at around 640 dollars per coin right now. 

So anyone who had Bitcoin now has Bitcoin cash instead? Or do they own both?



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