Bitcoin/Ethereum/cryptocurrencies

[Brownslave688]

CME is listing futures for bitcoin soon. Heard a guy suggest it could be the next derivative on a bubble to crash the whole market. Expect regulation sooner than later.

Man it's gonna be really hard to regulate. Plus I'm much higher on Ethereum than bitcoin. Bitcoin can do one thing and it honestly doesn't even do that very good. It has name recognition going for it right now. Which is huge but the better technologies will win out.

 

[FrigidFTSup]

It's volatile on a day to day basis but really the overall trend isn't that volatile.


Do you know anything about the block chain technology or bitcoin vs Ethereum and how the tech differs?


If not seriously at least do some research into it. Something like less than .1% of people use this. The room for growth is massive.


Bit coin could easily hit 100k in the next 5 years and that's not even bullish.

Problem with BitCoin in my opinion is, why is it so popular? Like what is driving that? To me it's like a penny stock that is selling for a few hundred. It's a commodity that is backed by nothing but speculation. It's a bubble waiting to explode.

Investment banks stay the hell away from it, and when those guys are sitting there saying no thank you, you gotta wonder what the hell is going on

 

[FrigidFTSup]

Expect regulation sooner than later.

And that's the second half of why I stay the hell away. Bitcoin is like the wild west.

At least if I invest in something here in the US the SEC or some feds can go after them if they try to screw me. With Bitcoin, that's it.

 

[Brownslave688]

Problem with BitCoin in my opinion is, why is it so popular? Like what is driving that? To me it's like a penny stock that is selling for a few hundred. It's a commodity that is backed by nothing but speculation. It's a bubble waiting to explode.

Investment banks stay the hell away from it, and when those guys are sitting there saying no thank you, you gotta wonder what the hell is going on

Block chain technology.


They don't understand it. I didn't at all either until I got to researching earlier this week.


Let's take Ethereum for example. Think of it as visa that does way more than visa. There's almost endless possibilities as to what can be done with Ethereum's block chain tech. Now this is An open source technology so anyone can utilize their block chain tech but in doing so they pay a small fee each time a transaction takes place using their block chain.

 

[Brownslave688]

And that's the second half of why I stay the hell away. Bitcoin is like the wild west.

At least if I invest in something here in the US the SEC or some feds can go after them if they try to screw me. With Bitcoin, that's it.

Just do your research.

 

[TearsInRain]

buy gold guys, the possibilities are endless!

 

[Boxslinger11]

Wish I would’ve kept all the bitcoin I bought in 2010-2012 but I spent it on other things. Oh well hindsight is 20/20

 

[Box Ox]

I knew nothing about Bitcoin until I podcasted Terry Gross's "Fresh Air" piece on Bitcoin and cryptocurrency/blockchain in general. Pretty informative. Probably wouldn't put any money into it myself. Can click the play button at the upper left of the article/transcript to listen.

 

[35years]

Bitcoin cash up 28% today alone.

Volitility is off the chart. This is a gambling play. Take 10% of your portfolio if you have excess and perhaps loose the 10% or perhaps double your entire portfolio in one year.

Look what happened in Venezuela...people flocked to Bitcoin during their crisis. Now there is speculation Bitcoin will soon be their national currency.

I have not put any money where my mouth is. I am too close to retirement to gamble but a small investment could become millions in a crisis

 

[Brownslave688]

Bitcoin cash up 28% today alone.

Volitility is off the chart. This is a gambling play. Take 10% of your portfolio if you have excess and perhaps loose the 10% or perhaps double your entire portfolio in one year.

Look what happened in Venezuela...people flocked to Bitcoin during their crisis. Now there is speculation Bitcoin will soon be their national currency.

I have not put any money where my mouth is. I am too close to retirement to gamble but a small investment could become millions in a crisis

I've got some money falling in my lap within the next couple months.


I feel like I'd be kind of stupid not to throw a few grand at it and see what happens.

 

[Brownslave688]

Crazy stuff to think about.


I'm not a super techy guy so it's hard for me to even wrap my head around some of this stuff but it's happening right in front of our eyes.

 

[bottomups]

I've got some money falling in my lap within the next couple months.


I feel like I'd be kind of stupid not to throw a few grand at it and see what happens.

You going to work 5 days a week for a change?

 

[Brownslave688]

You going to work 5 days a week for a change?

Yeah unfortunately it's peak.
Haven't had a day off yet in November. Rough life I tell you.

 

[bottomups]

I've worked three days so far this November. Might work one more.
Guy covering my route is getting slammed. I'm in no hurry to get back in that seat.

 

[BakerMayfield2018]

I've got some money falling in my lap within the next couple months.


I feel like I'd be kind of stupid not to throw a few grand at it and see what happens.

Good luck!

 

[Brownslave688]

Didn’t people lose all there $ in that before?

Only if they sold.


You throw money at sports all of the time.


You should get you some crypto to bet with.

 

[Brownslave688]

"So, in summary, the genius of the blockchain is that you have a tamper-proof (for all we know), decentralized database, the updating process of which is ‘trustless’ (in that you do not have to trust a central owner)."


This is why it's so popular @FrigidFTSup

 

[35years]

Bitcoin cash (BCH) up about 22% so far today, as I post this...$1338

That would mean it is up 50% in 36 hours.

 

[UpstateNYUPSer(Ret)]

Bitcoin cash up about 22% so far today, as I post this...$1338

That would mean it is up 50% in 36 hours.

Way too volatile, especially for those who are near retirement (me) or already there (you).

 

[35years]

Way too volatile, especially for those who are near retirement (me) or already there (you).

I am not retired.
And yes, it is way to volatile for me.
But loosing say 5% of my portfolio would not hurt much.

Bitcoin cash, in one month, has gone from $330 to $1338