Kinda wish I had bought more when it was down below $3k. Unfortunately I'm still in the negative, I think I bought when it was around $15k, but it looks like it might hit that number again soon.
I still don't get it. Will be interesting to see if/how Libra impacts it.
Yeah, I missed it in the 3000's.....although I had thought about taking a flier when it was @ 4000 (heck, even when it was sitting around 6200 for a long time).
But it has no fundamental value, and it seems to be destined to be replaced by something with more resources and backing (ala Libra, but I think the big banks are ultimately going to own the digital currency market).
I still agree with others that the bitcoin market is manipulated. I think the bottom line is you if you want to play with bitcoin, you buy after it's been in free fall and NOT after it's been spiking.
Agreed on your last point, gut. I played it wrong the last time, but FOMO kicked in. I'm not sure what I'll do once/if it gets back to what I bought in at. I'm probably just going to hold on to it until it ultimately hits $0, or reaches some ridiculous number like $100k.
i'd like to set up a mining operation and not pay for it, but even that seems like a zero sum game. I'm out on this stuff.
posted by justincredibleAgreed on your last point, gut. I played it wrong the last time, but FOMO kicked in. I'm not sure what I'll do once/if it gets back to what I bought in at. I'm probably just going to hold on to it until it ultimately hits $0, or reaches some ridiculous number like $100k.
Just read thru the old thread and everyone is alternately genius and stupid. When this first came up well before (2+ years?) I dumped on it, a few months later it went from $3900 to $5200. Then you re-visited it when it was $17k.
I predicted it would be below $9k inside of 12 months (not that bold, and maybe not that impressive considering it took less than 2 months). I also said I thought the bottom might be $2000-$3000 when I think it might have still been trading at $7k. Not bad. Of course, I still didn't buy any. But if I was going to, it would never be bitcoin expecting another run like this it would have been some other crypto.
Looks like we might see $13k today.
posted by justincredibleLooks like we might see $13k today.
Maybe it's a good way to hedge Bernie Sanders becoming POTUS and printing monopoly money to fund all his free shit.
I mean, unless you want to go buy actual gold and put it in a safe deposit box, gold and other commodities are pretty hard to invest in easily for us amateurs. Your only good option is basically stocks of miners, which carries the typical stock/equity risk and market fluctuations.
And we're at $13,200.
LOL, and it's back down to $11k.
posted by Commander of AwesomeI still don't get it. Will be interesting to see if/how Libra impacts it.
I'm sure Facebook is going to be hammering this hard, but honestly, what makes BTC and the altcoins distinct is the relative decentralization (some are more so than others). Libra doesn't seem like it's going to be at all, and even if FB claimed it was going to be, I don't think Facebook has the credibility to get the public to buy that at large.
Still, it's Facebook, so I'm sure they'll beat the hell out of marketing it.
posted by j_crazyi'd like to set up a mining operation and not pay for it, but even that seems like a zero sum game. I'm out on this stuff.
Yeah, at this point, mining BTC is more and more difficult to do profitably. The amount of money you spend on the rig and the ongoing resource use adds up, particularly now, since the number of them in existence approaches the cap and the mining of new coin is slower.
I thought about it a few years ago with alts, but even then, it was getting tough. The way people are doing it now is to divide up the labor and set up a network of other people's machines to mine each at a lower pace. It's usually done in shady ways, though there's nothing that prohibits it from being done as long as disclosure is clear.
posted by gutMaybe it's a good way to hedge Bernie Sanders becoming POTUS and printing monopoly money to fund all his free shit.
Wait is he a full blown MMT guy?
Oh the pain…..
posted by justincredibleAgreed on your last point, gut. I played it wrong the last time, but FOMO kicked in. I'm not sure what I'll do once/if it gets back to what I bought in at. I'm probably just going to hold on to it until it ultimately hits $0, or reaches some ridiculous number like $100k.
Interesting to see where my head was back then. $100k is ho-hum and I'm sure as shit not selling anything at that price.
