Cryptocurrencies

[PHC1]

Originally Posted by Karl Maga

All fair points. I will say that the pros I subscribe to have a public record of having nailed the dot com bubble/bust. I’ve made so much money with them so far that the Bitcoin speculative position is 100% funded via a small portion of what I’ve already made. No sweat.

Good Luck!

[PHC1]

Bitcoin up 20% in the last 7 days. Amazon registered 3 domains related to cryptocurrencies.

[62caddy]

Someday I'd like to learn more how this works. I started reading about it on Wiki but it wasn't long before my head was spinning.

[Karl Maga]

Originally Posted by PHC1

Bitcoin up 20% in the last 7 days. Amazon registered 3 domains related to cryptocurrencies.

I’ll take the 20%, but that’s not close to what I’m anticipating. Still, it’s a nice start.

[antipop]

Quite interesting to watch
https://qz.com/se/what-happens-next/...moneys-future/

[PHC1]

Another 11% pop in bitcoin today.

[Antonmb]

I don’t really understand how crypto currency works, but if I’m understanding this article, $300m just went poof. Sounds like risky business.
https://www.theguardian.com/technolo...olen-bug-ether

[ylee]

To my way of thinking, interest in bitcoin is pure speculation. As such, when things go up so quickly it can also drop very quickly. Its rise in value has had nothing tied to intrinsic value or function and epitomizes the relative worth tied to people's desire for them. In relation to this as well as other things mentioned, my philosophy is as follows:

1) There is no substitute for a good job where one draws an income.

2) There is no substitute for owning something that can produce income. Buffet is not a good investor because he picks good stocks. He's a good investor because he owns enough stake in companies so they have to listen to him in who they hire to manage the company.

3) In an apocalyptic situation, nothing will be as valuable as an AK-47 and a Glock with plenty of ammo (most reliable firearms) buried in your backyard.

[antipop]

Originally Posted by ylee

To my way of thinking, interest in bitcoin is pure speculation. As such, when things go up so quickly it can also drop very quickly. Its rise in value has had nothing tied to intrinsic value or function and epitomizes the relative worth tied to people's desire for them.

Sounds a lot like a ponzi scheme. Early entrant will make some money, you just don't want to be the last one holding the hot potato.

[PHC1]

Bitcoin passed $10,000 on a few exchanges today. From $0.06 only eight years ago to over $10,000. Since I posted this thread, Bitcoin shot up from $5697 to $10k.

No doubt there will be volatility, no doubt the whole time the "experts" will be saying there is a crash coming and perhaps some day it will. :

In the meantime, for those that got in....