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southernelite
McNeese State Fan
Dallas
Member since Sep 2009
49707 posts

re: Bitcoin - shave and a haircut
Who knows what wiki is doing? He could have lost most or all of his bitcoin in the Mt Gox debacle. Who knows.


I'm confused though, is cryptocurrency the currency of the future, or an investment that's going to get you rich?


bee Rye
Chicago Cubs Fan
New orleans
Member since Jan 2006
28800 posts

re: Bitcoin - shave and a haircut
quote:

For every Apple, google, amazon, there are hundreds of companies that didn't have those kind of parabolic returns. But you can't compare those to cryptocurrency because cryptocurrency has no earning potential, it's not a stock.
its like you don't even realize that every one of these coins has a real world tech company behind it. It's not just a bunch of coins, there is blockchsin technology being developed for use in the real world, to solve real world problems. If you can't grasp that perhaps there is value behind game changing technology, then I don't know what to tell you. Just go buy some savings bonds or some shite and watch matlock and whatever else people stuck in the past and are reluctant to change do


Volvagia
LSU Fan
Fort Worth
Member since Mar 2006
45363 posts
 Online 

re: Bitcoin - shave and a haircut
Um.

It might collapse.

But are you even aware of the irony that the same thing was said when it dropped to a FIFTH of the original value, and even at the current price it is worth 10 times that low.

Might want to let things shake out because making more smug comments. Bitcoin is far more entrenched now than it was the last time it made a recovery, and the cause of this drop isn't anywhere near as damning as the last.


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LSUregit
LSU Fan
Member since Dec 2013
1007 posts

re: Bitcoin - shave and a haircut


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GoldenSombrero
Arkansas Fan
Member since Sep 2010
1642 posts

re: Bitcoin - shave and a haircut
quote:

There wouldn't be an Equifax problem on our hands if they had information stored on a block chain.


This. A lot of the crypto I've invested is targeted at decentralizing the storage of information. And those coins are how you pay for the ability to do that.


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TigerTatorTots
New Orleans Pelicans Fan
The Safeshore
Member since Jul 2009
74274 posts

re: Bitcoin - shave and a haircut
quote:

its like you don't even realize that every one of these coins has a real world tech company behind it. It's not just a bunch of coins, there is blockchsin technology being developed for use in the real world, to solve real world problems.
People dont realize this. They think it is just a fake coin that someone creates and gives it a name.


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southernelite
McNeese State Fan
Dallas
Member since Sep 2009
49707 posts

re: Bitcoin - shave and a haircut
quote:

there is blockchsin technology being developed for use in the real world, to solve real world problems.


I agree.

quote:

If you can't grasp that perhaps there is value behind game changing technology,



There is value in blockchain technology, but the value of technology is not necessarily realizable through bitcoin or other cryptos currently.


LSUregit
LSU Fan
Member since Dec 2013
1007 posts

re: Bitcoin - shave and a haircut
Now you're just talking out both side of your arse. Just embrace blockchain/ crypto. No one knows who will be the Apple/Amazon/Msft of crypto but it is the future.


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40
PhifeDogg
New Orleans Saints Fan
Stankonia
Member since Mar 2006
4948 posts

re: Bitcoin - shave and a haircut
quote:

any "investing" in "cryptocurrency" is pure speculation.

Investing in anyfrickingthing is pure speculation.

You type that out and act like you're sprinkling us with knowledge.


ithad2bme
LSU Fan
Houston transplant from B.R.
Member since Sep 2008
2297 posts

re: Bitcoin - shave and a haircut
quote:

I'm confused though, is cryptocurrency the currency of the future, or an investment that's going to get you rich?


Yes, it is currently both. Every time I double my initial investment in crypto, I pull 20% out and put it in other more traditional investments. If Bitcoin went to $5 tomorrow I would still be ahead at this point.

Several companies are issuing credit cards that will let you spend various crypto currencies, even converting it to the currency for the country you are in without exchange fees.


LSUcam7
SRB FL
Member since Sep 2016
631 posts

re: Bitcoin - shave and a haircut
quote:

Investing in anyfrickingthing is pure speculation


Not true at all. The public markets do a pretty good job at forecasting earnings. It's not perfect always, but it's far from pure speculation when you invest with intent.

You guys can all claim to be crypto currency experts because you read a few bitcoin blogs yet none of you really understand how things will shake out as there is a lack of long term data. There is speculation and there is investing.


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southernelite
McNeese State Fan
Dallas
Member since Sep 2009
49707 posts

re: Bitcoin - shave and a haircut
quote:

Yes, it is currently both.


Doesn't work like that, bud.


shspanthers
LSU Fan
Nashville, TN
Member since Sep 2007
185 posts

re: Bitcoin - shave and a haircut
Why is that the case? I'm not saying it's not, but I don't see why it can't be both.

Don't people buy and trade currencies all over the worth every day with the same principals of stocks?

LINK



ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
11468 posts

re: Bitcoin - shave and a haircut
I have a "vegas trip" investment in btc. It's an amount that will not alter my life whatsoever should I lose every penny of it. It's a lot of fun watching the swings of highs and lows. I would advise anyone who likes the ride to invest what they can laugh away should it crumble and fail.


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40
TigerTatorTots
New Orleans Pelicans Fan
The Safeshore
Member since Jul 2009
74274 posts

re: Bitcoin - shave and a haircut
LINK

quote:

Chase Bank CEO Jamie Dimon recently rejected Bitcoin as a ‘fraud,” likely causing additional sell offs after the news of the Chinese exchange ban was released. The financial guru commented that Bitcoin was in a bubble not unlike the famous Tulip bubble during the 17th century.

However, in a somewhat surprising move, JP Morgan purchased a large block of Bitcoins just after the CEO’s harsh criticisms, according to a careful observer on Twitter.

Image: https://pbs.twimg.com/media/DJzRprIUMAAzMhy.jpg



ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
11468 posts

re: Bitcoin - shave and a haircut
Dimon is a genius. A dirty motherfricking genius. But a genius.


jondavid11
LSU Fan
benton,la
Member since Aug 2007
1024 posts

re: Bitcoin - shave and a haircut
quote:

This has all the look and feel of the tech bubble back in the day. Convince me this isn't the largest pyramid scheme in the history of mankind


So, since BTC is at $4.069 this morning, how much did @tigerpawl make on his purchase the other day at $3,413? Quick 20%? Nice job @tigerpawl. Get that stop/loss in there though.


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Jones
New Orleans Saints Fan
Member since Oct 2005
72271 posts

re: Bitcoin - shave and a haircut
This was the Chinese govt. He just piled on (and bought btc)


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Jones
New Orleans Saints Fan
Member since Oct 2005
72271 posts

re: Bitcoin - shave and a haircut
Btc hit $5400 today and going strong


Carson123987
Texas Fan
Middle Court at the Rec
Member since Jul 2011
56774 posts

re: Bitcoin - shave and a haircut
this will bumped for months to come


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