Sold of My Entire Bullion Collection In Order To Purchase BitCoins

Well...look what Bit coin is doing now! May have been a April Fools joke in 2013 but Bit coin has gone stupid crazy. What if this person had bought a couple thousand Bit coin at the low prices then and what would he/she have now?

 

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"I read that bitcoins tag a transaction code when they are spent, so you can track the transaction history. I bet there will be a collectibles market for bitcoins. "This bitcoin was used by Warren Buffet to purchase XYZ Corp..........."

I read somewhere that Bitcoins, et. al. could be used by criminals to buy/sell weapons, drugs etc without being traced. If the transactions are easy to trace seems to me that would detract from the value of them.

 

https://www.coindesk.com/data/bitcoin/

$2570.51

 

What happened to bitcoins being anonymous?

 

Sorry to say this is the most intelligent move despite Bitcoins having no physical form you wonder why Silver doesn't move like this? bit coins have went up over $1,200.00 just in the past week. Now they are valued at $4,200+ a piece.

You could of bought 100.00 in bit coins 10 years ago and you would be a millionaire already.

 

Now I have to go change. I peed myself laughing so hard.

 

"bit coins have went up over $1,200.00 just in the past week. Now they are valued at $4,200+ a piece."

Congratulations to those owning Bitcoins. OTOH, money isn't made unless they're sold. Ever hear of the Tulip Mania around 1620?

 

yeah, I sold my crypto back into cash. couldn't let that appreciation go to waste even if it is taxed.

the only problem is the entry point is now high, and you just have to wait .. and wait until it goes below another entry point.

 

Why is that? You don't have to buy whole bitcoins. They can be split to 8 decimal places, I believe. You can buy very small fractions for reasonable prices.

 

That is like buying 1/10oz silver when it was $50. Doesn't matter how little you buy the price is still going to drop.

 

Yes i know you can buy smaller fractions. But then your breakeven point is even higher when you add in your buy/sell fees for such small fractions.

You alos have to look at the fractions in relation to other crypto, which could earn more money buying an entire bitcoin.

But, what i was stating is .. for instance I day trade in Crypto ... so I buy low and then sell high and follow trends. I just don't buy in and hold. Thus I wait for more beneficial entry points and don't buy fractionals, I buy multiples.

 

I don't know enough about PM's but I would think it's impossible for their value to fall to zero. Being a tangible asset and all, with certain supply/demand of them in the manufacturing sector. Even if the prices were to fall, they couldn't fall below a certain level.
While Bit Coins might be appreciating currently, they could be worth 0.00 one day and be swallowed by the internet abyss. Their value could go to zero since it is not a tangible asset.
All they need is one good scandal, the "trust" factor would vanish overnight, they would be worth $100 and the next day $10, and then $0.

 

"so I buy low and then sell high and follow trends."

Which Exchange trades Bitcoins? Symbol?

 

True but as mentioned it becomes what's the point. If it goes up the gain is minimal and a lot of eaten by fees. There's just not much to gain with fractional amounts especially in the middle of what appears to be a massive pump up. If I owned any I would be trying to sell them as fast as possible right now

 

I have 113 Bit Coin Talk points for sale.

 

Did you write code for a GPU to mine those?

 

This thread feels like deja vu.

 

Or at least deja poo.

 

Ok, ok. This nonsense needs to stop.

Bit coins are a joke. They are not backed by any government. They are vulnerable to hacking. They do not represent any actual value.

https://www.nytimes.com/2017/08/21/business/dealbook/phone-hack-bitcoin-virtual-currency.html

Sovereign governments issue money based on the perceived value of their economy. When done correctly, there is no smarter place to store wealth than the US economy.
Even the nutty "Austrians" who believe in a currency backed by gold or silver have something backing the value of their money.
Bit coin is backed by neither a government nor a commodity.

Sovereign governments also insure deposits at banks.
Bit coin is insured by none.
Have fun: https://www.nytimes.com/2017/08/21/business/dealbook/phone-hack-bitcoin-virtual-currency.html