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Topic Title: Anyone investing in BitCoin?
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Created On: 08/15/2017 11:46 AM
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 01/16/2018 10:57 AM
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StirfryMcflurry

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Originally posted by: 3rdworldlover Don't you think regulators are going to smack these down even more soon?

 

You mean - the same way they did with Pot stocks, right?



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 01/17/2018 07:36 AM
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3rdworldlover

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The Federal Reserve and SEC have no interest in regulating pot. They do care about regulating the value of the dollar though.

Looks like I'm too late to get in on the sell off.

 01/17/2018 07:59 AM
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worksuxgetsponsered

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I had some pot stalks, but then I made a bunch of butter....

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Edited: 01/17/2018 at 08:23 AM by worksuxgetsponsered
 01/17/2018 11:03 AM
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CERTON

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Price drop? HODL and BUY

Note: Even though it's the future of global currency, crypto is pure gambling at this stage. Only invest what you can afford to lose and good luck!

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 01/19/2018 05:37 PM
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dingpatch

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Bitcoin Is Likely to 'Totally Collapse and Be Forgotten,' Nobel Prize-Winning Economist Says
Money Brad Tuttle,Money 9 hours ago


Robert Shiller predicted the housing bubble AND the tech wreck.

Robert Shiller, the Nobel Prize-winning Yale economist who predicted the housing bubble, says that he is mystified by the rise of Bitcoin - but ultimately regards the cryptocurrency as a speculative bubble that is likely to burst.

Speaking with CNBC in advance of the upcoming World Economic Forum in Davos, Switzerland, where Shiller will give a talk, the author of the best-selling book Irrational Exuberance said that Bitcoin "has no value at all unless there is some common consensus that it has value."

Shiller compared the extraordinary rise in Bitcoin, which surged from around $800 to over $19,000 in 2017, before plunging below $10,000 lately, to "Tulip mania." That's the bizarre period in 17th-century Holland when spiking demand and rampant speculation drove the price of tulips through the roof - before the market collapsed, of course.

"We still pay for tulips even now and sometimes they get expensive," Shiller said on CNBC. Similarly, Bitcoin "might totally collapse and be forgotten and I think that's a good likely outcome, but it could linger on for a good long time, it could be here in 100 years."

Shiller, who has previously said that the cryptocurrency is spreading "like a contagion," also told CNBC this week that he "doesn't know what to make of Bitcoin ultimately."

Last week, billionaire investing genius Warren Buffett also expressed confusion over the rise of Bitcoin and other cryptocurrencies, and predicted that the bubble would inevitably pop. "In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending," Buffett said on CNBC. "When it happens or how or anything else, I don't know."

Nonetheless, some say that Bitcoin and rival cryptocurrencies like
Ethereum and Ripple still have plenty of room to run. One analyst from Saxo Bank, which accurately forecast that Bitcoin would triple in value in 2017, recently said that Bitcoin could peak to over $50,000, or even $100,000 this year.

However, the same bank is predicting that Bitcoin could drop back to $1,000 before 2018 is over.
 01/20/2018 05:12 AM
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jcortez13

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"Shiller, who has previously said that the cryptocurrency is spreading "like a contagion," also told CNBC this week that he "doesn't know what to make of Bitcoin ultimately." "

So basically he has no clue and is guessing. Blockchain is so completely foreign to people like him. All of the speculators base their knowledge and predictions off of existing financial systems, and bitcoin and the like are trying to avoid being turned into that. As @CERTON mentions above it's still like gambling at this point but the technology will happen and some of the coins will become as normal as the dollar.
 01/20/2018 07:10 AM
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dingpatch

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Well, it's not like Shiller is an uneducated dolt like the rest of us here. Nobel Prizes are not too easy to get. I'd have to say that he does have a "clue", or two.

Warren Buffet says pretty much the same things about "cryptos".

Edited: 01/20/2018 at 07:39 AM by dingpatch
 01/20/2018 07:36 AM
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DaveFL76

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I originally liked the idea of using it as a currency a couple years ago. Bought some stuff off Overstock, and a handful of other online stores that accepted it. This is when it was 'relatively' stable. With this speculative runup, I don't see it ever being used as an alternate currency (its original intention) again.
 01/21/2018 10:07 AM
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realsur4

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I'm sure there is a bank, or multiple banks, who are designing their own "digital currency" that will be legit because they will back it financially. What I don't understanding is how is that any different than PayPal or a type of credit card? You pay with it, then you pay the bank for using it or use the funds from your digital currency account. It's the same game in my opinion.
 01/22/2018 06:46 AM
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TeeBirdForever

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Blockchain has nothing to do with bitcoin's hysterics.

It's only because speculators are involved now. The same thing as saying it's a bubble.

It certainly could be a normal kind of currency if there were something to stabilize it, but it's more like gold now; a thing that is not a necessity (not stabilized by actual need) but for which there is a high demand.

 01/23/2018 07:35 AM
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TeeBirdForever

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 01/26/2018 05:13 PM
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Lunchmeat

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Get the Coinbase app, put some play money in it and buy some crypto. A couple of buddies and I basically daytrade it. It goes up and down so much there's plenty of money to be made. 10-20% swings daily. Thats better than most stocks. Buy on dips then sell when it goes back up. Plus- your money is available after a sale withing a few minutes. Money from stock sales take days to clear.

Edited: 01/28/2018 at 07:01 AM by Lunchmeat
 01/26/2018 08:59 PM
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DaveFL76

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Originally posted by: StirfryMcflurry
Originally posted by: 3rdworldlover Don't you think regulators are going to smack these down even more soon?

 

You mean - the same way they did with Pot stocks, right?

Yeah, I got sucked into that gimmick for a few bucks. I would have been much better off just buying pot.
 01/26/2018 09:00 PM
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DaveFL76

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Originally posted by: Lunchmeat Get the Coinbase app, put some play money in it and buy some crypto. A couple of buddies and I basically daytrade it. It goes up and down so much there's plenty of money to be made. 10-20% swings daily. Thats better than most stocks. Buy on dips then sell when it goes back up. Plus- your money is available after a sale withing a few minutes. Money from stock sales take days to clear. And finally, no tax bs to report on earnings, unlike to 40% hit on short term stock earnings, there's nothing to report, nada. Feel free to PM if you have a question and I'll try to answer it.
What are your plans for reporting gains and losses? My understanding is that they're going to generate 1099s if you trade more than $20k per year. Keeping track of it seems like a pain.
 01/30/2018 07:04 AM
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ww

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Krugman has another column citing Shiller today.  A commenter linked to Nouriel Roubini, whose putdown of Bitcoin is a bit different.  

 01/30/2018 07:19 AM
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KeyserSoze

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Anyone know anything about or have thoughts on KKTCoin ??




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