Sold of My Entire Bullion Collection In Order To Purchase BitCoins

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Like the tulip bulb and the Internet bubble, I fear that bitcoin will turn out badly for a lot of people.

 

You're probably right but I am hoping for a more interesting explanation.

 

It has and will be good for a lot of people along the way before someone can't off load the hot potato.

 

I would assume most average joe type that are in bitcoin at these price levels got in much cheaper. Clearly there's going to be big swings where the money will be made for a lot of people at this point, but at this point the biggest threat is probably the wallets getting hacked. If they start getting stolen regularly I could see a price crash but unless that happens it probably won't stay down for long periods as it's proven to be to big of a money maker after every pull back

 

Unstoppable.
1 Bitcoin equals
11290.00 US Dollar
On 22 May 2010,Laszlo Hanyecz made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 BTC.
If he held them until now, that's $112,900,000. I hope that pizza was tasty.

 

Absolutely insane.

 

For those with stock market brokersge accounts, Check out ticker symbol GBTC. Its a pseudo proxy for bitcoins.

 

bitcoin went up $1,000 over night? Insanity.

 

Imagine what they'd be worth if they were New YORK pizzas?

 

Dropped $13 THE CRASH HAS BEGUN
1 Bitcoin equals
11277.00 US Dollar

 

$579 it just dropped. May have settled there.

 

Fun Facts:

- Most of the bitcoin buying is from other countries (I think Japan, South Africa, and Switzerland are high on the list. The U.S. is 12th on the list. So this is not a U.S. driven market.
- Some pundits on CNBC have said BitCoin could rise to $40,000 in 2018 (others say it will crash soon) -- take your pick
- What you have is a lot of people chasing a limited supply.
-Breathtaking volatility. So far every major sell off has been a buying opportunity.
- Expect 30% to 50% pullbacks at times before moving higher again (it's a relatively thin small market, so prone to extreme volatility). So if you buy it, fasten your seat belt. some of the recent swings ... $5000 to $2800 to $8000 to $5800 to $11,300. Seems to me there are a lot of people out there waiting for big pull backs to load in more.

The best way to invest in this IMHO ... is take a tiny amount of your net worth (maybe 1% -- something that wont kill you if you lose it). Say you have $50,000 in savings, take $500 and buy some bitcoin. And hold it for 5 years and see what happens (ignore all the crazy swings and pullbacks) ... worst case is it goes to $0 and you lose 1% of your net worth. But if it goes up 4x or 10x or 100x or more, you got to participate and made a little money.

 

I definitely get what you’re saying but I honestly don’t think the common man is a part of this anymore unless they’ve been riding it for a while. The common man generally doesn’t have 10k plus laying around for a single Bitcoin. There’s a lot of appeal in some parts of the world and at some point actual countries were/are involved in mining them. There was a time we’re people could mine them at home as well. The common man likely doesn’t have a whole lot of skin in the game in terms of their cost at this point or is in the Gbtc stock instead which trades well below the bitcoin price and has been more stable.

I honestly used to think governments would be more aggressive shutting it down for a variety of reasons but they seem to be more interested in just finding ways to tax it instead.

 

It almost has to crash.

 

How high can one stack a card house before someone pulls the bottom card?

 

That's a bit like saying the common man doesn't have half a million lying around for a single gold good-delivery bar.

Both gold and bitcoin are available in fractional amounts.

But if past bubbles are any sign, the time to get worried is when "the common man" is scrambling to buy bitcoin. Just like when "everyone" was scrambling after tech stocks in the 1990s.