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Is bitcoin a good investement?

I lucked out as I was in need of a small amount of btc recently and was looking to get signed up somewhere to grab a bit. Bitfinex had fantastic reviews but was not allowed to take customers from NY so I went with another option, so that was a nice bit of luck. Some regulation saving people in NY from having to take a loss on some coins (not that I would keep any in a wallet at an exchange anyway)

Also, it wasnt all of the btc at the exchange it was a portion and last I heard they were spreading losses across all customers and attempting to get financing to make everyone whole. Apparently an issue has to do with the fact that they are now regulated by the CFTC and they were not allowed to keep all coins in cold (offline) storage which is the most secure storage.

I find all these cyber crimes to be very interesting as they are on such an advanced level using current technology its just amazing to read about. I am a bit shocked bitcoin itself still hasnt been hacked to be honest

'A flute with no holes, is not a flute. And a donut with no hole, is a danish'

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Yayyywork wrote:

I am a bit shocked bitcoin itself still hasnt been hacked to be honest

I’m by no means a hacker or really know anything about coding/engineering/programing…whatever. But, I have read a lot about bitcoin and from what I understand, it’s not really possible to straight-up hack bitcoins. That’s why exchanges have been targeted. 

I suppose the analogy would be with real money you can rob a bank or try to counterfeit your own. With btc you can only rob the bank since every new btc key is published publicly you can’t create your own out of thin air. 

Very true, guess I didnt think about it in that way. Still though it seems like somehow it must be possible to produce fake “coins” that the network propagates or something? This is totally out my ass and I have no clue what I am talking about. The people who created bitcoin did a pretty great job coding it and thinking of pitfalls (that itself is pretty impressive) and seeing all these new reports of malware that have been on computers undetected for years just makes you wonder what the future is going to look like.

'A flute with no holes, is not a flute. And a donut with no hole, is a danish'

^I think the brilliance of btc is both the complete transparency and total anonymity of it all. That’s an impressive combo.

Sweep the Leg wrote:

^I think the brilliance of btc is both the complete transparency and total anonymity of it all. That’s an impressive combo.

indeed, which is why block chain technology is being adapted elsewhere for it’s “anti hacker” “anti corruptible” capabilities.

..........I learned the hard way last year what exploding delta feels like when you are short and naked

KMeriwetherD wrote:

Sweep the Leg wrote:

^I think the brilliance of btc is both the complete transparency and total anonymity of it all. That’s an impressive combo.

indeed, which is why block chain technology is being adapted elsewhere for it’s “anti hacker” “anti corruptible” capabilities.

Agreed with both of you guys. Although i will say about 75% at least of the current “block chain” products are a complete joke and they are just getting funding because its the new cool thing you have to be in on. They also seem to want to be using their own proprietary block chain so they can cement a dominant market position which doesnt seem to be catching on much based on my limited readings on the topic

'A flute with no holes, is not a flute. And a donut with no hole, is a danish'

BTC price shoots up, would be lovely to have the capital to short this til it drops back. Price loves to shoot up and lose a lot of people money.

'A flute with no holes, is not a flute. And a donut with no hole, is a danish'

^Can you even short btc?

Yea there are some exchanges which allow it i believe, there are also derivitives (options/futures) for btc last i heard as well. Not sure what kind of borrow/liquidity you would get on those but thats another story

'A flute with no holes, is not a flute. And a donut with no hole, is a danish'

This thread is a great contrarian indicator.

This thread seems mainly filled with people that laugh at the technology behind bitcoin and dont understand it in the slightest. But yes a good time to sell would be when random people are like “hey whats bitcoin its up 30% in like a month I should invest in that ill be rich soon!”

'A flute with no holes, is not a flute. And a donut with no hole, is a danish'

*laughs at bitcoin*

Palantir wrote:

*laughs at bitcoin*

Laughing at bitcoin or laughing at blockchain?

Sweep the Leg wrote:

This thread is a great contrarian indicator.

Totally. Time to unload my .35btc…

STL you want??

Wishing I had bought btc when it was $20 instead of handlebar mirrors and some other farkles for a motorcycle I don’t have anymore. Oh well. 

https://bloomberg.com/news/articles/2017-11-23/now-you-can-invest-in...

Is this the future? 1.5% plus trade costs for an actively managed fund that totally relies on deep learning? Be interesting to see how this fund moves. 60-40 btc and cash seems bad to me, I’d rather just buy .01 btc or 100k Satoshis (or however that increment is traded) and keep my cash exposure to what’s in my wallet. 

RIP bchad - the long-winded peacemaker of AF

Yayyywork wrote:

This thread seems mainly filled with people that laugh at the technology behind bitcoin and dont understand it in the slightest. But yes a good time to sell would be when random people are like “hey whats bitcoin its up 30% in like a month I should invest in that ill be rich soon!”

i bought ethereum after all the hype and made a pretty penny 

I’ve had 100% ROI in the past 3 months… 

 Damn.. imagine beiong Yayyywork and buying that cheaply and selling at 900.. It’s nearly 10k now.

i sold at around 200/250 or something like that actually… had i held my life would be significantly better lol… oh well hard to complain about a 10x gain. Still would be nice to be holding though

'A flute with no holes, is not a flute. And a donut with no hole, is a danish'

Yayyywork wrote:

i sold at around 200/250 or something like that actually… had i held my life would be significantly better lol… oh well hard to complain about a 10x gain. Still would be nice to be holding though

This is true of everything. People look at the amazing gains of certain investments, but the majority of people sell way too early. But who knows with this non cash producing asset. It could go back to zero after the EMP strike the globalists are planning. It’s their last ditch effort to win the war paid by  the central banks. They will not give up their quantitative easing powers easily. 

my friend made over a million on this. anyways he gets his research from reddit. lol. his strategy is to track the emotions of people on what is clearly a bubble he knowingly participates in.

I love my cheese. I got to have my cheddar.

^^ yea i mean does it suck knowing i could have had >200k off this? Yea but even if i didnt sell at 200ish I might have sold at 1k, 2k etc etc. Shoulda woulda coulda i still did well, cant live life like that.

'A flute with no holes, is not a flute. And a donut with no hole, is a danish'

Yayyywork wrote:

^^ yea i mean does it suck knowing i could have had >200k off this? Yea but even if i didnt sell at 200ish I might have sold at 1k, 2k etc etc. Shoulda woulda coulda i still did well, cant live life like that.

for real homes

Nerdyblop wrote:

my friend made over a million on this. anyways he gets his research from reddit. lol. his strategy is to track the emotions of people on what is clearly a bubble he knowingly participates in.

srs? a million?.. 

Damn.. i feel like I should be actively trading this shizzle rather that sitting on it.

^so he claims, and never stops talking about it.

to be fair he does drive a 7 series now. just got it a couple weeks ago. we taking it to vegas sometime in december. lol

I love my cheese. I got to have my cheddar.

I have a friend who received Bitcoin in his hacker days years before they were worth anything. He had mentioned it to me at a bar one time but forgot. I reminded him about it, but he had lost the password to the drive they were stored on. Back in 2013, the value of the encrypted coins were 60k. I can only imagine how upset he is that he lost that password 

rawraw wrote:

I have a friend who received Bitcoin in his hacker days years before they were worth anything. He had mentioned it to me at a bar one time but forgot. I reminded him about it, but he had lost the password to the drive they were stored on. Back in 2013, the value of the encrypted coins were 60k. I can only imagine how upset he is that he lost that password 

It’s around $600k. If it was in 2012 then it would be $48m….

It’s whatever, just make it count.

- kDot

Nerdyblop wrote:

^so he claims, and never stops talking about it.

to be fair he does drive a 7 series now. just got it a couple weeks ago. we taking it to vegas sometime in december. lol

ah ****.. i’m thinking of emptying my mutual fund and sticking the whole lot on some altcoin punt..see if i can make a million too..

I bought some ethereum a few days ago. Seems like the most useful cryptocurrency to me and figured it would keep me engaged / force me to keep learning about it. I’ve never participated in a bubble before, so want to see how I emotionally handle the volatility. 

brain_wash_your_face wrote:

rawraw wrote:

I have a friend who received Bitcoin in his hacker days years before they were worth anything. He had mentioned it to me at a bar one time but forgot. I reminded him about it, but he had lost the password to the drive they were stored on. Back in 2013, the value of the encrypted coins were 60k. I can only imagine how upset he is that he lost that password 

It’s around $600k. If it was in 2012 then it would be $48m….

Haha wow I’ve seen some return numbers and knew it would be a lot at this point. Funny enough, if he had the password he would have sold long ago 

I’m sure I’ve said this on here somewhere…maybe even the first page, didn’t check.

Fun story: The first btc transaction was for two pizzas for 10,000 bitcoins. $100,000,000 pizzas. Better not have been Papa Johns.