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-SK4-

Bitcoin new all time high - $12,000+

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15K Holy shit

 

I've been buying low and selling high for the last couple of days but it's been hard to keep up.

 

I would have made more money if I just stayed put but I am playing the anticipation game to the eventual bubble pop.

 

After that I'm just dumping my money (just as much as I can afford to lose and not get fucked) and waiting a few years, because watching this thing requires way too much attention.

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Almost 17k now :D

 

Even the guys over at r/bitcoin are starting to recommend selling off to avoid getting hurt by the bubble bursting. Some of these 1k increment records since hitting $12,000 are single digit hours apart, so a pump and dump seems likely.

 

3 hours ago, Kitad said:

I would have made more money if I just stayed put but I am playing the anticipation game to the eventual bubble pop.

 

After that I'm just dumping my money (just as much as I can afford to lose and not get fucked) and waiting a few years

 

Same, just gotta dodge the bull trap afterwards and it'll be a solid investment.

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The thing is... I bet that 98% of people on BTC right now are just using it as an insane investment opportunity. (The other 2% are Ron Paul fans that think that BTC will bring some sort of revolution). In fact, the number of transactions and places that will take BTC as payments are decreasing.

 

It is simply too volatile to really be a currency right now. Plus the usability has tanked (though some developers are working on possible solutions to the fee/speed problems).

 

And since its an illiquid asset, when the bubble pops, there will be too many people trying to get out at the same time and nobody wanting to buy.

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if you look at your last two lines of your post it could easily be mistaken for USD

 

even when we had the gold standard it wasnt backed by anything other than "we decided gold is the standard", BTC is just illustrating for you the concept of money it seems

 

 

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also i made 700 dollars over night on a 2800 dollar investment so dont get me wrong im definitely in it for the investing part, despite believing in a decentralized currency 

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6 minutes ago, beef said:

if you look at your last two lines of your post it could easily be mistaken for USD

 

even when we had the gold standard it wasnt backed by anything other than "we decided gold is the standard", BTC is just illustrating for you the concept of money it seems

 

 

You had governments and central banks. You may like them or not. But that's not the point. The point is that you have a centralized institution.

 

Bitcoin is descentralized, which means that nobody has to answer if it starts free-falling.

 

Don't make me wrong, I'm making money of this train too, but the point I'm trying to make is that you have a violent bubble popping all of the sudden and it would not surprise me in the least.

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ah but btc is becoming less and less decentralized. now that it is open to corporations instead of banks owning world money, corporations will own robot money. 

 

you have to remember too that this is stuff people see on the news and go oh boy and do nothing. most people dont start mining or invest. i think people in even now, late, are in early.

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10 minutes ago, -SK4- said:

Officially a millionaire :)

Yeah right lol. Even if you had the coin it would take ages to convert with sell orders backed up for an indefinite amount of time.

 

This shit is going to burst. 

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made my first investment. Put $100 in bitcoin just to play around with this and see how it works. Im already in the red tho, its tough to keep track of the constantly fluctuating values.

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8 hours ago, Twinblade said:

made my first investment. Put $100 in bitcoin just to play around with this and see how it works. Im already in the red tho, its tough to keep track of the constantly fluctuating values.

Follow my advice: Treat it as a long term investment. You will go nuts if you obsess over the little minute to minute  changes. December may have a lot of ups and downs, but in 1 or 2 years the price will probably be much higher than it is today.

 

11 hours ago, DynamiteLem! said:

Yeah right lol. Even if you had the coin it would take ages to convert with sell orders backed up for an indefinite amount of time.

 

This shit is going to burst. 

Spoken like a true ignorant. People have already bought houses and cars with their profits.

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13 minutes ago, Kitad said:

 

 

Spoken like a true ignorant. People have already bought houses and cars with their profits.

What does that have to do with anything? These exchanges are a que, especially when you get into higher dollar figures.

 

There's people with sell orders that will be waiting months and even years to get a return, possibly never.

 

There's a reason you don't see a bumch of people flashing wealth all over the place from bitcoin money, few have actually been able to cash out significant amounts.

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6 minutes ago, DynamiteLem! said:

What does that have to do with anything? These exchanges are a que, especially when you get into higher dollar figures.

 

There's people with sell orders that will be waiting months and even years to get a return, possibly never.

 

There's a reason you don't see a bumch of people flashing wealth all over the place from bitcoin money, few have actually been able to cash out significant amounts.

 

What are you talking about? Go to GDAX right now and you will see people buying and selling 50-100 coins ocassionally. If you want to sell faster just set a price that is slightly lower than the market price.

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12 hours ago, -SK4- said:

Officially a millionaire :)

Prove it. You cashed out?? To whom? What did you initially invest?

--'

 

Who here sold it all at the 1900 dollar price??

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