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[Kill Your Masters]

Heard about it first back when it was $1 or however much when one of the first things bought with it happened. Thought nothing of it.

Paid attention again when it was approaching $1k, nearly bought one when it dipped to $900 but didn't want the risk. Always regrets but not the end of the world.

Could have bought them at 1$, but you would have sold them at 100.

Same for buying at 100. You would have sold them at 200-300.

Most people do. You would always be in regret when selling, and when not selling always thinking about selling or not selling.

 

[The Albatross]

Right. There's only one person who can truly regret his decision with Bitcoin... the guy who bought a pizza with like 10,000 bit coins like 8 years ago. Today, that's a ~$50,000,000 pizza.

I bought bitcoin years ago when it first spiked and then came back down... So I bought when it was $280/coin or whatever, but I sold when it jumped back up to $700 ~9 months later, because the year before, we watched it climb up, spike at $1200 and then crash, and I figured that was imminent. I was happy enough to double my money. Sure, I coulda sat on that another year as it climbed up to $2500, but tthen when it crashed last year and lost almost 50% of its value, I probably would have freaked out and sold then convinced it was going to keep dropping.

There aren't many people who would have bought bitcoin at $1 and then sat on it for 8 years only to cash out at $5400, or whatever. And, in 5 years, we may have a thread where Bitcoin hits a new record high at $30,000/coin or something, and then the same people will post "I Was going to buy at $1 and I missed out!"

It's just how currency trading is. There have also been plenty of dips and plenty of people who lose money. I've been investing in Ether and Litecoin over the last 9 months or so, nothing major but just supplemental investments, and I'd love to say that I always bought low and sold high, but that's not the case. I bought Litecoin when it was $28, and then sold when it was $49, even if I waited another month it would have peaked up near $90. So, what did I do? I bought some at $80 as well, and then it's dropped back down to the 40s and 50s for the most part for the last 2 months. I'd love it if I only bought low and sold high, but that's just not how it goes.

Here's the thing, we always think "MAn, I was gonna buy at $400 a coin and I missed out, I should have done that!" But for every time where you were going to buy at $400 and sell at $5700, there would be an equal amount of times where you'd buy at $2700 and then it'd fall down to $1800 and you'd sell in a panic, or you'd buy at $400 and sell at $650, etc. It's just how it is.

 

[SonicXtreme]

It's gonna be fun to see all this come crashing down spectacularly.

(Not jealous of those who got in at the ground floor... But seriously though, don't get too cocky guys. This will not continue forever.)

people last month 'man I sure wish I got into bitcoin years ago'

also people last month 'bought in at the dip and doubled my money this month lole'

 

[Cipherr]

Sorry, noob here. Does that mean ETH is going to be dead? Go up? Go down? No effect?

It doesnt mean anything except ETH is switching to a system that doesnt wastefully burn a truck ton of electricity from miners in order to function. PoS is waaaay more efficient and doesnt burn resources like traditional mining. Lots of coins will switch to it in the future its better for the environment in general.

Better to ask these question in the Crypto thread.

 

[NimbusD]

Ugh, once again spending an hour or two trying to figure out how to get into this. Taking a break but honestly what happened the last 10 times is I just give up until another article like this reminds me I should give it another shot. Dont understand this shit at all and things change so quickly all the 'easy start' type of guides seem to be dated.

 

[mackattk]

Ugh, once again spending an hour or two trying to figure out how to get into this. Taking a break but honestly what happened the last 10 times is I just give up until another article like this reminds me I should give it another shot. Dont understand this shit at all and things change so quickly all the 'easy start' type of guides seem to be dated.

What I do is set up coinbase to automatically withdrawn $30 a week to buy Bitcoin. $120 a month but it's spread out so it will even out the price fluctuations. I don't have the time, patience, or willpower to play the altcoin market to make money. This way I just don't even think about it.

 

[BraXzy]

Could have bought them at 1$, but you would have sold them at 100.

Same for buying at 100. You would have sold them at 200-300.

Most people do. You would always be in regret when selling, and when not selling always thinking about selling or not selling.

Of course, I would've likely sold the $900 at $2-3k and would still have regrets. That's the way it goes. There's always that what if in the back of your mind though.

 

[XiaNaphryz]

BTC goes over the $6000 mark:

https://www.cnbc.com/2017/10/20/bitcoin-surges-5-percent-to-record-high-within-74-cents-of-6000.html

Bitcoin surged 5 percent to a record high above $6,000 on high trading volume Friday.

The cryptocurrency hit a record high of $6,003.81 in late morning New York trading, according to CoinDesk. Bitcoin pared gains to last trade around $5,977.

Twenty-four hour trading volume in U.S. dollars for bitcoin was nearly $2 billion, versus the low hundreds of thousands for other digital currencies such as ethereum and the bitcoin offshoot, bitcoin cash, according to another industry data website, CoinMarketCap.

"In the last 24 hours and really the last few hours there has been a massive inflow of capital into bitcoin, significantly outweighing the amount of new money flowing into other cryptocurrencies," said Alex Sunnarborg, founding partner of cryptocurrency fund Tetras Capital.

Digital currency ethereum traded about 1 percent higher near $311, according to CoinDesk.

Bitcoin cash, traded 0.4 percent lower around $328, according to CoinMarketCap.

Bitcoin notched its record two days after briefly plunging 8.7 percent amid fears of greater scrutiny from U.S. regulators.

Most of the cryptocurrency's trading volume came from Japan, with 59 percent of the trades executed in Japanese yen. Trades in U.S. dollars accounted for 25.5 percent of all trades, according to CryptoCompare.

Nevertheless, the cryptocurrency has had a stellar performance over the past month, rising 50.4 percent. This despite being criticized by JPMorgan Chase and BlackRock CEOs Jamie Dimon and Larry Fink.

Dimon said last week at a conference that people who own the cryptocurrency are "stupid." Fink, who spoke at the same conference, called bitcoin an "index of money laundering."

 

[cpp_is_king]

Come on, bitcoin baby! You can do it!

 

[TyrantII]

Buy buy buy!

(Do the big guys can cash out your money)

😊

 

[Brandson]

A few thoughts on Bitcoin...

(1) The concept of using a blockchain as a store of value has merit, as does having the ability to transfer control of units of the crypto asset without relying on a bank or government.

(2) The value of Bitcoin is extremely speculative because it really has no use, and no prospects for use, outside of being that store of value, especially if Bitcoin Core and the No2X side wins the fork fight. They seem to be firmly against Bitcoin having faster transactions and lower transaction costs because they believe that would reduce the security of the blockchain. Bitcoin is never going to be used as a replacement for an actual currency except by hobbyists unless the number of transactions per second go way up and the costs come way down, and the No2X side likes it that way.

(3) The price movements this year, and especially very recently, look extremely manipulated (fake sell/buy walls and artificial volume designed to trigger panic selling or fomo buying) and designed to profit off of unsuspecting investors, especially with one exchange (Bitfinex) driving Bitcoin trading volume by a large margin despite not allowing fiat deposits or withdrawals for some time, or US customers.

(4) There are other crypto assets that have objectively better technology. Bitcoin's value comes from being first, having name recognition, strictly limiting the number of units of Bitcoin ever existing, and from traders aggressively looking to profit off of it. Very few people actually use or plan to use Bitcoin.

(5) Most people who buy crypto assets like Bitcoin don't understand what they are.

You can make money trading Bitcoin, but if you choose to buy any, you should at least be aware of all of the above. More Mt. Gox-style corrections are definitely possible in the future with all of the trading irregularities happening on a daily basis.

 

[tkscz]

Could have bought them at 1$, but you would have sold them at 100.

Same for buying at 100. You would have sold them at 200-300.

Most people do. You would always be in regret when selling, and when not selling always thinking about selling or not selling.

I'm the type of idiot who would forget I even had them.