Sold of My Entire Bullion Collection In Order To Purchase BitCoins

Discussion in 'Bullion Investing' started by Tyler, Apr 1, 2013.

  1. ToughCOINS

    ToughCOINS Dealer Member Moderator

    You can inflate and deflate a balloon many times, but you can only pop it once . . . Give it time.
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  3. baseball21

    baseball21 Well-Known Member

    No more semantics than people using you can't hold it in your hand as a reason why its worthless

    The point was that everything even your income generating investments and businesses are that way because at some point in time people decided thats how they were going to work just like years ago people decided that's how bitcoin will work.
  4. baseball21

    baseball21 Well-Known Member

    That's basically just the same method the doomsday predictors use. You can be wrong a million times but you only have to be right once

    If anything it is much more likely to keep going up especially over the next year
  5. hchcoin

    hchcoin Active Member

    (39230.90-35700)/35700=up 9.9% in 2 days since longshot put the value on this thread on Tuesday.

    (39230.90-8192.49)/8192.49=up 378.9% in the last year

    That's impressive. Will it crash? At some point probably. I do know some young people that have made hundreds of thousands of dollars on Bitcoin and that feeds into the excitement for all the other ones I know who have lost money on Bitcoin. If someone has held Bitcoin long term they have ridden a roller coaster and have come out on top right now. I honestly hope some of these folks are selling enough Bitcoin so that if it does crash, they will have secured a portion of their gains above their cost.
    longshot likes this.
  6. longshot

    longshot Enthusiast Supporter

    Just crossed 40,000.
  7. ToughCOINS

    ToughCOINS Dealer Member Moderator

    For those of you who want to risk some of your money on BitCoin, this is sound advice. Either redeem your principal or redeem your gains, but don't leave both hanging out there . . . with bubbles that blow up as fast as this has, there will be no chairs when the music stops.
    GoldFinger1969 likes this.
  8. baseball21

    baseball21 Well-Known Member

    Guess all coins should be dumped then too? Or do we just pick and choose whats a bubble over several years?
  9. GoldFinger1969

    GoldFinger1969 Well-Known Member

    BitCoin is certainly more of a bubble than coins. It's up 8-fold from the March low and 4-fold from the start of the year.

    If my coins go down, I can still enjoy them by looking at them. I can't look at BitCoin. :D
  10. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    Good choice :) just add more bit coin to my portfolio, adding in Tesla tomorrow
    its ripe for a split and that means $$$$$
  11. -jeffB

    -jeffB Greshams LEO Supporter

    A family member got heavily into day trading, and told me the fundamental idea was "buy stocks that are going up, and sell stocks that are going down".

    "But", I said, "all you can really know is that you're buying stocks that have gone up, and selling stocks that have gone down. Isn't that the opposite of 'buy low, sell high'?"

    He kind of nodded ruefully.

    So, good luck with your fortune-telling. For what it's worth, I agree that Tesla and Bitcoin are both more likely to go up than down in the short term. I'm just not confident enough of it to move into either one.
  12. baseball21

    baseball21 Well-Known Member

    And it's only a little over 2x from a couple years ago. This idea that it just started getting huge value for the first time is just false. it's been doing this for years
    slackaction1 likes this.
  13. -jeffB

    -jeffB Greshams LEO Supporter

    Right, just a nice, smooth doubling over the past two years or so. :rolleyes:


    Contrast it to gold, that "traditional store of value":


    BTW, isn't it great to see this chart confirming that, in terms of The One True Form Of Money™ (at least if you aren't a Free Silver Movement follower), the dollar has precisely held its value since late 2011?

    Past performance is no guarantee of future results. Of course Bitcoin has been on an upward trend for quite a while -- it literally started at zero a little over ten years ago. Where will it be in another ten years? It could be at a million dollars, or a billion dollars, or zero. In 2000, nobody was using Bitcoin. How can we be so sure that anyone will be using it in 2040?

    Personal opinion: I'm pretty sure some form or forms of cryptocurrency will still be in use twenty or a hundred years from now, and I think there's a distinct possibility that they'll represent a majority of financial activity. I'm just not convinced any one current form of crypto is going to be a long-term winner. Meanwhile, of course, I've missed out on "doubling my money" over the course of a few weeks, and I strongly suspect it'll double again before long. But I also think there's a big dip coming, once enough of the current speculators decide to go chase something else, even if there aren't any black-swan attacks (on wallets or exchanges) to trigger an actual crash.
  14. Brian Calvert

    Brian Calvert Active Member

    I congratulate those who invested in Bitcoin, Ether, and others. They took a risk and won. Good for them.. I actually own a very tiny bit of Bitcoin, and 6 ether (those were free because I got in early, sold to recoup initial investment, and kept the 6. Still only 7200.00 but it is something...

    Gold is still the real value. You may not like it, or even agree, but history is true and once all this BS, Banks cheating, FED Cheating, Wallstreet Cheating, JP MORGAN Cheating via huge short contracts, things will work out. Printing endless dollars and forcing out labors, real wages, fair benefits and much more only leads to Super Greed via the EXTREMELY wealthy and Super Poverty by the masses.

    t looks as if Florida is the first to Prepare stopping the poor. You can ONLY have a quit protest, anything else will be deemed unlawful and you will receive a Felony charge. I wonder if the British did the same thing on their HOMELAND Here. Told all the native Americans you cant even speak against us... - EDITED - Guys that sell their soul for money and power to the billionaires.

    Sickening to watch the country fall apart while so few add billions to their pockets. So glad I seen this all coming, and it has not even gotten bad yet, it will go bad, worse, then very bad, then poor living in the streets like they do in Oregon...What - EDITED - then with the poor people ? Lock them up ?
    Last edited by a moderator: Jan 8, 2021
  15. Brian Calvert

    Brian Calvert Active Member

    LOL..... I got caught up in the 2000 bubble.... My choices were L90 an internet marketing machine or the book selling corp. Amazon... Chose the first, no lie, put 2K in Etrade all excited and bought 1900.00 worth, in 2 weeks it was at 2700.00 and I thought "how easy" then 3 months later it was worth 300.00 From there to zero in a year and my investing career was over until 2005. Since then I have done well, always, always invest in REAL things, and gamble 10% as if money going to casino that you are willing to throw away.
  16. Brian Calvert

    Brian Calvert Active Member

    You actually think Tesla will split again ?
    You have heard the story of their valuation ?

    They make 500,000 cars a year and valued at 800B
    All other car companies combined make 90M cars a year and combined are valued at 800B ?

    Tesla is = Ford, Chrysler, GM, Toyota, Nissan, BMW, Mercedes, and so on, and so on, and so on....

    You know this right ?
    GoldFinger1969 likes this.
  17. Michael K

    Michael K Well-Known Member

    Even if Tesla made $1B per year profit, they would be overvalued 40x.
    And they don't make any money. There's no fundamentals to that stock.
    I saw $41,000 on BC earlier.

    24 Hour High
  18. -jeffB

    -jeffB Greshams LEO Supporter

    Was $41,962.36, now just $39,252.25! SAVE NOW!

    Will I feel silly if it hits $100K next month? No; I won't even be surprised.

    Will I feel silly if it hits $10K next month? Ditto. Although if it drops that low, I might be tempted to buy some, finally. I just don't like buying when everybody else is buying. That's not when you get a good deal.
  19. longshot

    longshot Enthusiast Supporter

    I dunno. 5 years ago I was scoffing at electric vehicles. I'm kinda switching feet, thinking now that electric cars, trucks, and tractors will be appearing at an unbelievable rate inside of 10 years from now. It won't all be Tesla, obviously. But ....
  20. GoldFinger1969

    GoldFinger1969 Well-Known Member

    TSLA is not a car company now, it's an energy company.
    longshot likes this.
  21. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Brian, I hope you are right on gold (somewhat) but the banks and shorts are not involved in any conspiracy to keep the price down.

    Those same banks 3 years ago were all pooh-poohing and naysaying BitCoin.....did that keep the price down ?
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