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Comfy Fleece Sweater posted:Imagine not listening to goons in 2011 and buying like 1,000 bitcoins You wouldn't be able to convert them to real currency. Now if you had bought into GBTC last year you'd be sitting loving pretty.
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Jun 20, 2017 23:56
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pop fly to McGillicutty posted:Hello I'd like to purchase all the Bitcoin you have in stock That'll be $15,000. Just let me know when you want to exchange them.
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Jun 21, 2017 01:01
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Gonna play devil's advocate and say that if we're basing Bitcoins performance as a long term investment (like most serious minded investors do) then even with these dips it's still well ahead. I wouldn't buy them even with someone else's money, mind you, but over a few years time they have increased in value....if not liquidity.
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Jul 16, 2017 07:14
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COMRADES posted:The problem is so many exchanges and whatnot have either been shut down or robbed or stole from their customers outright so unless you just have your own secure wallet (and kept the passwords for it for years) odds are good your BTC stash would have disappeared at some point between now and the last several years. Oh absolutely. BTC is about as expensive of a speculative play you can make with absolutely no security or regulation to back you up. I do see ways that a global currency that isn't tied to banks could be hugely beneficial to the global economy (use in large transactions between foreign companies, holding firms, etc), but until there's regulations backed by several world governments it's just gonna be floating out there in the wild west of new currencies.
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Jul 22, 2017 16:18
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Banks aren't above getting hacked either. Pretty sure something brought down Chase and Bank of America for an entire day this month.
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Jul 22, 2017 16:25
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divabot posted:Good thing those exchanges are FDIC insured Which is the biggest hurdle that BTC has. Even an independent regulatory body like the SEC but for crypto currency could add a huge amount of legitimacy to the whole thing if it's done correctly.
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Jul 22, 2017 21:41
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No one should ever pay for porn. We should demand porn subsidies. Smut Reform!
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Jul 22, 2017 22:57
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Buttcoin purse posted:Did everyone with accounts there lose 30% of their balances? Of course not. Because they're gigantic institutions with trillions of held dollars and tons of oversight and compliance regulations. My point is that if the cryptocurrency market can develop some sort of self regulatory committee or find some sort of insurance coverage for lost/hacked coins, then it will take off. The issue is people that are into BTC and ETH and the like are mostly into it because it doesn't have that regulation. I think if it was going to fail it would have failed by now, but there's still limited growth potential because of the highly speculative and insecure nature of the individual markets. It's basically a super expensive penny stock pretending to be a currency.
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Jul 25, 2017 02:10
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Because of inflation all money can only go up! That's what inflation means. For instance, if you bought 1950's dollars they would be worth way more today because the worth of a dollar in the 1950's was worth more than a dollar is today because of inflation. Basically, savvy investors buy currency (such as BTC) early and then sit on it until it becomes worth more (this is why some old quarters and dimes are worth tens of dollars). This is called "dollar cost averaging." Ask anyone in finance if dollar cost averaging is a good strategy and they'll back me up on this.
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Jul 25, 2017 15:41
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Jul 25, 2017 16:19
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Tenzarin posted:How would someone cash out 40 million dollars worth of bitcoins? Those ATMs? Theoretically they'd just sell it on the exchange. Realistically that would tank the market, trigger a ton of stop sells, and the whole sale would probably wind up being worth way less than their on paper balance. It just happened to ETH.
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Jul 28, 2017 00:32
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Chitin posted:I know a dude trying to sell about a thousand dollars in festival tickets right now that, had he used real money, would have been refundable. If you trade enough of them in then you can probably get a mustache comb or an assload of tootsie rolls.
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Jul 28, 2017 03:10
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Jeffrey of YOSPOS posted:Where are the sells if it's a wash trade? Keep them in the sellar for winter.
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Sep 15, 2017 23:29
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