i just bought 100 dollars in bit coin stuff, now what?

[SickleSigh]

HoloDust said:

Slownenberg said:
bitcoin has nearly 3.5x'd this year in just over 7 months. Every time someone tries to tell people interested in investing in it that they will lose all their money I just feel awful for both the person giving the bad advice and the person who might be swayed by it.

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.

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.

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.

Yep, sad but true. Like most innovations created to enhance our life bitcoin will be used like most tech is. Utilizing the potential for profit, security, and analytics. Leaving the status quo of elites in charge with more power. I read article by a major bank i forgot which outlining how removing open source and etc. would allow banks to predict consumer behavior if it can view all transactions.