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cashfl0w

I need a Bitcoin expert.

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I talked to my brother about this recently and while he's not an expert on bitcoin he does work in the financial sector on wall st. as a financial adviser so it is his job to be in the know. It's what he's been doing for a living for the past 20 yrs. 

 

I'll probably butcher this as i know literally nothing about bitcoin and he was a lot more technical breaking it down but this was his take for the most part. 

 

The blockchain technology is the future. It's not a question of if but when. Eventually it will be implemented across the financial sector because it has so many applications to work across many platforms increasing time efficiency, less need to verify, process & store enormous sets of data, less man power needed, easier to track translations which works a bit like a time stamp that is a very definite thing that cannot be tampered much if at all so it's more secure and there is less risk for things like fraud.

 
Currently investing in the short term Bitcoin is not really super risky but at some point because it's not backed by anything and once the tech behind it becomes adopted as an industry standard there will be alternatives using the tech that are actually backed so when that happens bitcoin will likely become too volatile making many people panic and pull out so all the people that are late jumping ship are taking a huge gamble on it if they don't get out at the right time. 
 
Bitcoin itself probably isn't gonna last as far are being a safe thing to invest in long term. Once the technology is adopted as the industry standard then bitcoin itself is probably going to become the myspace of e-commerce with the majority jumping ship so there won't be enough people left with skin in the game then the value is gonna crash making it virtually worthless so if you don't get out at the right time you'll be left holding your a$$, scratching your head wondering WTF just happened. It may not happen but it definitely could so he personally wouldn't advise people to invest much in it unless they're doing it for quick gains. Long term it's probably too risky. 

 

Stomps essay Cash lol

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Less helpful than pointlessly attacking another poster? If you don't wanna read it don't read it, just don't be a **** about it.

Lol Im joking where you let me know you dont like me on a weekly basis
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i'm tempted to sell what I have, make a few hundred dollars, and reinvest it all on the next dip....but...will there be a next dip is my question

I've been waiting for a dip for a while now... 

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Didn't they just recover from a dip? Why shouldn't we expect another one at some point?

Don't mind him, he can't even spell Bitcoin.  

 

I'm hoping it'll drop down to where it was towards the end of august.  I'm so pissed I cleared out 99% of my BTC wallet back when it was $500 or so a coin a little over a year ago.  I had $1000 worth, which would now be like $11,500.  What an idiot.  

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Don't mind him, he can't even spell Bitcoin.  

 

I'm hoping it'll drop down to where it was towards the end of august.  I'm so pissed I cleared out 99% of my BTC wallet back when it was $500 or so a coin a little over a year ago.  I had $1000 worth, which would now be like $11,500.  What an idiot.  

 

I know someone who had 20 actual, physical bitcoins that were given to them at the beginning...they had to sell them a long time ago for financial reasons.

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$6k!!!!

Saw that!  what a run man ..... imagine if you could go back in time and buy up $10000 worth of BTC back when they were a dollar a pop.  It would be worth $60 MILLION!!

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Lol @ 'waiting for a dip'

No matter dip or not if you bought at the moment you are in the profit (if you held and not day-trade).

 

Big whales always take profit and cause acorrection/panic sale that's when they take profits but this technology is the future so they ALWAYS BUY back in.

 

China ban Bitcoin and everyone thought that would crash it as well. Only did for about a week and right back to profits.

 

Ethereum will hit $500 ($1000 long term) eventually. Just not sure how long it will take but that's just my opinion.

Edited by CanPass
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they have 2 "forks" coming...one in a few days...and one in like 2 or so weeks

 

I really don't understand what those are, but I'm hoping for a dip lol

Free money. You won't see the dip until after then imo.

 

Last fork was for Bitcoin Cash. You get the same amount of holding as you have for Bitcoin.

 

When Bitcoin Cash was released it was worth bout $700 $800 and holding steady today at $324 of basically free coins.

 

People are buying in to get both coins on both chains.

Edited by CanPass
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Saw that!  what a run man ..... imagine if you could go back in time and buy up $10000 worth of BTC back when they were a dollar a pop.  It would be worth $60 MILLION!!

 

A friend was telling me about this in 2014 or 15.  I really didn't understand what the hell he was talking about.  On top of that I didn't really care either.  So imagine when he brought it back up this summer and even said himself that he can't believe he didn't get in on it back then.

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SVT any youtube videos, trading websites or other educational material you'd recommend i'd appreciate you posting them. 

 

Do you day trade, trade weekly or are you just kinda sitting on them?  What happens when all 21 million are mined? 

 

I've read a few articles trying to get up to speed. This one was interesting for example. 

 

https://www.quora.com/How-much-will-1-bitcoin-be-worth-in-2026-27

 

The big concern i have is when quantum computers become consumer ready and widely available which is just around the corner so if ( big IF mind ) that allows for the block-chain to be hacked then Bitcoin could be virtually worthless overnight and may not ever really recover but other alternatives will eventually take it's place pretty quickly. Lol imagine if most countries started using BC as THE standard currency and it was suddenly hacked. HOLY fk that would be chaos. 

 

I know, i know doom/gloom, big skeptic and all but i'm considering rolling the dice and maybe getting one or two. That i can live with losing if the the worst case happens. I don't wanna be that guy that's kicking himself if Bitcoin becomes such a global phenomenon and because of the finite scarcity the value may jump to hundreds of thousands one day and i think it very well could do that in the very near future....maybe 

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SVT any youtube videos, trading websites or other educational material you'd recommend i'd appreciate you posting them. 

 

Do you day trade, trade weekly or are you just kinda sitting on them?  What happens when all 21 million are mined? 

 

I've read a few articles trying to get up to speed. This one was interesting for example. 

 

https://www.quora.com/How-much-will-1-bitcoin-be-worth-in-2026-27

 

The big concern i have is when quantum computers become consumer ready and widely available which is just around the corner so if ( big IF mind ) that allows for the block-chain to be hacked then Bitcoin could be virtually worthless overnight and may not ever really recover but other alternatives will eventually take it's place pretty quickly. Lol imagine if most countries started using BC as THE standard currency and it was suddenly hacked. HOLY fk that would be chaos. 

 

I know, i know doom/gloom, big skeptic and all but i'm considering rolling the dice and maybe getting one or two. That i can live with losing if the the worst case happens. I don't wanna be that guy that's kicking himself if Bitcoin becomes such a global phenomenon and because of the finite scarcity the value may jump to hundreds of thousands one day and i think it very well could do that in the very near future....maybe 

 

I'll see what I can find for you...I don't really day trade it, but once i'm up a bit I sell and wait for a small dip then re-buy...if it gets to like $6500 I'll sell again.

 

I have a percentage I don't sell and I just hold on it for the longterm in case if explodes past $10k, which some people think will happen.  I don't know what will happen once it's all mined, but I guess it really just depends on the demand

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I'll see what I can find for you...I don't really day trade it, but once i'm up a bit I sell and wait for a small dip then re-buy...if it gets to like $6500 I'll sell again.

 

I have a percentage I don't sell and I just hold on it for the longterm in case if explodes past $10k, which some people think will happen.  I don't know what will happen once it's all mined, but I guess it really just depends on the demand

It's at $6392 right this second, better get ready to pull the trigger.  

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I'm now tempted to hold a little but longer lol

Investment rules 101.....stick to your plan!

 

Btw, good luck to you all - bitcoin is the highest of highest risk investments though, as there is no tangible backing and it's purely sentiment based, so I hope you've balanced your portfolio out a bit and haven't sold the house to buy this stuff!  Investing in the companies that make the technology behind this might be a safer and still fairly profitable option.

Edited by Bubba_Sparks
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Investment rules 101.....stick to your plan!

 

Btw, good luck to you all - bitcoin is the highest of highest risk investments though, as there is no tangible backing and it's purely sentiment based, so I hope you've balanced your portfolio out a bit and haven't sold the house to buy this stuff!  Investing in the companies that make the technology behind this might be a safer and still fairly profitable option.

 

of course this isn't 90% of my portfolio.....be right back

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oh man, a buddy of mine told me this am he sold all his bitcoin a few weeks ago and dumped it into some Alt coins (iota, litecoin, ethereum)...he is kicking himself about it now....he is not sure what to do at this point in time.

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oh man, a buddy of mine told me this am he sold all his bitcoin a few weeks ago and dumped it into some Alt coins (iota, litecoin, ethereum)...he is kicking himself about it now....he is not sure what to do at this point in time.

Idiot...no offense....most alts are scams.

 

He probably got greedy and try to turn his 1 BTC or whatever into 2BTC.....many have tried with alts and failed.

 

 

Just HODL!

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Idiot...no offense....most alts are scams.

 

He probably got greedy and try to turn his 1 BTC or whatever into 2BTC.....many have tried with alts and failed.

 

 

Just HODL!

 

he went with iota/ethereum/litecoin...he probably read the same stuff I did that said some Alts would explode due to the bitcoin forks....I'm guessing he thought bitcoin reached peak numbers.

 

I'm hodling fo sho!

Edited by SVTContour98
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he went with iota/ethereum/litecoin...he probably read the same stuff I did that said some Alts would explode due to the bitcoin forks....I'm guessing he thought bitcoin reached peak numbers.

 

I'm hodling fo sho!

I've been eyeballing grabbing some to just hold.  Not going to use money that I can't afford to lose though.  

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