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

COKTOE on 05 August 2017

Order some pizza.



- "If you have the heart of a true winner, you can always get more pissed off than some other asshole."

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SickleSigh on 05 August 2017
HoloDust said:
SickleSigh said:
The brilliance of Bitcoin is the lack of a Federal Reserve staffed by shysters that lend currency to a govt. with debt. Easy to see how all money is meaningless beyond the value society shares. A delusion we all willingly go along with, but when it becomes arbitrary with inflation or deflation that delusion can't persist. Post WW1 Weimar Germany would pay employees at start of day and let them shop, as bread would be 5x more expensive at end of day. People used currency as wall paper.
The public ledger available for all to see and unable to be manipulated creates a free market currency that bankers don't control. No wonder China is trying so hard to kill it.

Bitcoin is nice beta test for governments before they lauch their own cryptocurrencies and kill off decentralized cryptos.

Sadly yes, unless acceptance of Bircoin reaches critical mass which it won't. Same reason people hate Democrats and Republican won't vode 3rd party because the perception it's a wasted vote. We have the means to decentralize power but won't because so. The petrodollar has dwindling worth as reserves are harder to get. Still for some a cartel like OPEC is more trusted than anonymous coin miners in China. Worse yet, the part they would keep in shows every transaction ever made by everyone. Every purchase could make you a target.



psychicscubadiver on 05 August 2017
spurgeonryan said:

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

Mourn the loss of your investment.

:P



Pyro as Bill on 05 August 2017

Put $100 in the bank and another $100 under your bed and see which is worth the most in 10 years.

How many Bitcoin did you get?

If you want a 'real' bitcoin, put the address and password onto a piece of metal (or plastic or paper or in a .txt file on a SD card).



Nov 2016 - NES outsells PS1 (JP)

Don't Play Stationary 4 ever. Switch!

WolfpackN64 on 05 August 2017

Ehh, I hope you did your research before investing in this? Cryptocurrencies are extremely volatile.



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HoloDust on 05 August 2017
SickleSigh said:
HoloDust said:

Bitcoin is nice beta test for governments before they lauch their own cryptocurrencies and kill off decentralized cryptos.

Sadly yes, unless acceptance of Bircoin reaches critical mass which it won't. Same reason people hate Democrats and Republican won't vode 3rd party because the perception it's a wasted vote. We have the means to decentralize power but won't because so. The petrodollar has dwindling worth as reserves are harder to get. Still for some a cartel like OPEC is more trusted than anonymous coin miners in China. Worse yet, the part they would keep in shows every transaction ever made by everyone. Every purchase could make you a target.

Well, Bitcoin is not really a currency, it's commodity, and one that has wild swings - I can't really see it ever becoming currency in current incarnation.

Some articles I find interesting on the subject:

http://neweconomicperspectives.org/2013/12/fair-price-bitcoin-zero.html#more-7042

https://news.bitcoin.com/fedcoin-u-s-issue-e-currency/



ghettoglamour on 05 August 2017

Aaaaaand... it's gone.



Game of the year 2017 so far:

5. Resident Evil VII
4. Mario Kart 8 Deluxe
3. Uncharted: The Lost Legacy
2. Horizon Zero Dawn
1. Super Mario Odyssey

Diablos1979 on 05 August 2017
spurgeonryan said:

I bought three different Tech currency actually. Cannot remember the other names,  eupherem and something else. 


Then I went to the actual bit coin site and bought some more. 

Should I just keep buying this stuff monthly until it means something?  I have a bunch of Iraqi dinar too,  but that has failed to matter after nearly a decade. 

To bad, 7 years to late ;) If you would have bought 100 dollar worth of bitcoin in 2010, when it was just a few cents per coin you would have been rich now...

But you can still make it a good investment, important is to really know what the projects do you are investing in and if they show stability.
Also a fun option is to go to a cryptocurrency exchange, like Poloniex or bittrex and buy and trade with coins. If you follow the 'market' and buy and sell at the right time you can really make some good money.

Just don't blindly buy coins, there are scam coins which can really cost you your money.



Collecting free bitcoin @ https://freebitco.in/?r=5970871

Slownenberg on 05 August 2017
JRPGfan said:
Killy_Vorkosigan said:
I've got a Billion in monopoly money, maybe that should be worth something.

If you could make sure, people couldnt make their own copies of your money, and convince people it was worth something, it would be.

But yeah I see Bitcoin as a speculation bubble thingy... it could easily burst, and all those with huge amounts invested would be left with nothing.

 

Slownenberg said:

buying some bitcoin was a great idea. good job OP. I expect it to roughly 20x-40x in the next 5 to 10 years.

Or it collapses into nothing..... more likely than it being up 40 times its current value.

I mean how many valutas have jumps like that? sh*t isnt natural and its bound to burst when people realise it

How many times has it already jumped up 40x....answer: many

Things don't jump up like that??...bitcoin does.

Hell its already over 3x'd in 7 months this year.

And guess what, the "bubble" has burst many times, and keeps going up. And it will burst many times more as it hits mainstream over the next decade. Which is kinda the key point to understand, it is still very niche, not near mainstream, but is growing quickly. Which is why I say 20x-40x, as bitcoin being mainstream would probably put it in that range or even higher.

Collapsing to nothing would literally take zero people on earth wanting it, so it 40x'ing from this point is infinitely more likely than it going to zero or anywhere near zero.

 

I get that if you don't know much about it you just read news stories about it increasing a lot and then dumping a lot and it being highly volatile and the news stories always say its in a bubble whenever it goes up and say its dead whenever it goes down, but the fact is it keeps going up, not matter how many times new stories say its a bubble or its dead. The pattern is exponential growth, and this will continue until it hits mainstream.



HoloDust on 05 August 2017

 

Hm, I wonder where else have I seen this?

Oh , here