Bitcoin explosion and ALT coins thread

[Grassshoppa]

What does this stupid video have to do with anything we're discussing?

Apparently people believe these videos. If what they believe is true then Bitcoin will become obsolete after The Great Reset and you own nothing.

 

[G-19]

I have enough for sure. I just believe that it will eventually hit 300k a coin in the next few yrs .

Take some profits and make a few big payments off of your mortgage. It might still have a lot of upward pressure but it will definitely go down and consolidate before heading back up. You could just roll the dice and hold off this decision till next year and see where you’re at.

 

[Hidden_Hand]

A couple of questions if you don't mind? I'm very novice at all of this stuff.

So you say it went to 3000 and now it is 19000? So does that mean you could buy one single coin for 3000 and now that coin is worth 19000? Also if you have say one coin, what do you do? Sell it? and then convert the money to your currency and put it into your bank?

Where is a good place to track these crypto currencies? Say the market does take a hit, is it worth chucking a few grand at these? Is there somewhere you can track them?

I legit remember the user WorldofWarcraft making the thread about these years ago, begging people to invest and I remember looking at them and being tempted to buy a few as they were so cheap but I didn't understand any of it and thought it would never go anywhere, makes me feel sick now. My friends never believe me when I tell the story about how I could have become a millionaire from an internet forum.

 

[Hidden_Hand]

https://crypto.com/price/

Can you break that down for me? Give me an idea of what i'm looking at?

 

[Cid]

Apparently people believe these videos. If what they believe is true then Bitcoin will become obsolete after The Great Reset and you own nothing.

Dumb people believe stupid shit. I still don't understand how this is relevant.

Why is this "dystopian" future more plausible than the one portrayed in the movie Gattaca?

 

[D Train]

I know but I would have to by back at a way higher rate

I hear you, man. But it’s no good to you just sitting there. Pay off that house. That’s an investment too. And one that can’t be taken away.

 

[Cid]

https://crypto.com/price/

Can you break that down for me? Give me an idea of what i'm looking at?

That's a price listing site. It's almost exactly the same as any site that lists stock market info.

Company = crypto
Share price = price per coin
Market cap (total valuation of company(share price x number of shares) = Market cap crypto (coin price x however many coins)

 

[Cid]

I hear you, man. But it’s no good to you just sitting there. Pay off that house. That’s an investment too. And one that can’t be taken away.

Houses can be taken from you.

 

[deviake]

I hear you, man. But it’s no good to you just sitting there. Pay off that house. That’s an investment too. And one that can’t be taken away.

The thing is just one of his coins very well may be worth close to or more than his house in a few years if not sooner

 

[therealdope]

I have enough for sure. I just believe that it will eventually hit 300k a coin in the next few yrs .

no one ever lost money taking a profit. Why don't you sell half and hold the rest. If you think it's going to go up 10x then you'll have $1.5m if you hold half (if i understood correctly how much you hold now).

Don't forget the tax you'll have to pay on the profit. Don't fuck around and cause yourself trouble.

 

[D Train]

The thing is just one of his coins very well may be worth close to or more than his house in a few years if not sooner

“May be.”
Listen, it’s a risk cashing some in. I get it. But a paid off house is a guarantee.

 

[kenetics]

I hear you, man. But it’s no good to you just sitting there. Pay off that house. That’s an investment too. And one that can’t be taken away.

True . Ya. I'm going to pay the house off. It's going to feel weird not having to pay a mortgage anymore. I'm 35 and would've of never believed that I would own a home by then and even crazier because of bitcoin.

 

[D Train]

True . Ya. I'm going to pay the house off. It's going to feel weird not having to pay a mortgage anymore. I'm 35 and would've of never believed that I would own a home by then and even crazier because of bitcoin.

Almost no one your age lives debt free. Congratulations, man. Sincerely. I wish I understood Bitcoin how you do. Keep building that wealth and making wise decisions.

 

[Wreckless]

Yep. Lots of people, like me for instance, thought that we were way too late to the party when BTC was at around $500. Like I said earlier, if you were to invest today you'd be better off than me.
If you're going to invest though, treat it like it is (high risk/high reward gamble) and don't spend what you can't afford

How does one get started? Just go on something like Coinbase mentionned earlier and buy some bitcoins? I assume i'd have to research which one is better to invest in.

Also, is dropping like 500 bucks even worth it just to see where it goes or you need to put a few grand?

 

[kenetics]

How does one get started? Just go on something like Coinbase mentionned earlier and buy some bitcoins? I assume i'd have to research which one is better to invest in.

Also, is dropping like 500 bucks even worth it just to see where it goes or you need to put a few grand?

Yes you can purchase Bitcoin on coin base. I would say Bitcoin and especially ethereum would be best to out money in .

 

[Hog-train]

How does one get started? Just go on something like Coinbase mentionned earlier and buy some bitcoins? I assume i'd have to research which one is better to invest in.

Also, is dropping like 500 bucks even worth it just to see where it goes or you need to put a few grand?

It's 100% worth it.

Any money you have in your traditional savings account (in dollars) is LOSING value every year due to inflation. It's at about 3% every year and accelerating because the US treasury is printing dollars to pay for pandemic relief.

Meanwhile Cryptocurrency outpaces the stock market, real estate, precious metals and any other investment vehicle in growth since it's inception.

You can just start putting $50 per month or any amount you would normally save into it.

For a newcomer, I would recommend just Bitcoin and Ethereum and just HOLDING. Trying to time the market makes people lose money 90% of the time. It's going to have huge volatile ups and downs. You just have to not panic and just HOLD.... Hodor.

 

[Wreckless]

Yes you can purchase Bitcoin on coin base. I would say Bitcoin and especially ethereum would be best to out money in .

It's 100% worth it.

Any money you have in your traditional savings account (in dollars) is LOSING value every year due to inflation. It's at about 3% every year and accelerating because the US treasury is printing dollars to pay for pandemic relief.

Meanwhile Cryptocurrency outpaces the stock market, real estate, precious metals and any other investment vehicle in growth since it's inception.

You can just start putting $50 per month or any amount you would normally save into it.

For a newcomer, I would recommend just Bitcoin and Ethereum and just HOLDING. Trying to time the market makes people lose money 90% of the time. It's going to have huge volatile ups and downs. You just have to not panic and just HOLD.... Hodor.

Thanks for the info! Much appreciated.

Just created an account on Coinbase and might drop a few hundred on Ethereum and see where it goes from here.

When you say hold, until when should someone hold? 5 years, 10 years? I understand that there's no certainty and the market goes up and down. But there must be a point where you're like it can't get any better than this, I need to sell.

Also, i've seen a few times in this thread that it's not worth buying from the smaller ones since it's too risky and they're going to die out. How do we know this won't happen to Bitcoin or Ethereum?

These are probably dumb question but i'm a total noob and should have done my research years ago when I first heard about this stuff.

I will definitely do a bit of reading on this tomorrow to get a better understanding before dropping some cash.

 

[facePuncher7]

Inst a guy recently who owns a 3 letter dot com domain, bought it for a few hundred back in the day.

But yes, it isn't worth anything.

 

[Hog-train]

Thanks for the info! Much appreciated.

Just created an account on Coinbase and might drop a few hundred on Ethereum and see where it goes from here.

When you say hold, until when should someone hold? 5 years, 10 years? I understand that there's no certainty and the market goes up and down. But there must be a point where you're like it can't get any better than this, I need to sell.

Also, i've seen a few times in this thread that it's not worth buying from the smaller ones since it's too risky and they're going to die out. How do we know this won't happen to Bitcoin or Ethereum?

These are probably dumb question but i'm a total noob and should have done my research years ago when I first heard about this stuff.

I will definitely do a bit of reading on this tomorrow to get a better understanding before dropping some cash.

Not 5 years - will appreciate in less time (but it will be even more valuable in 5,10,15 years, etc.)

BTC is here to stay and that is evidenced by all big, institutional money coming in. Ethereum will not die because all the altcoins are built upon the Ethereum network.

The other alt coins - most of them will not be worth anything in the end. But fortunes can be made if you pick the right horse and ride it. You're not gonna get a 10x, 50x, 100x, or even a 1000x from BTC or Ethereum. Alt coins are really risky, but can pay off insanely as well.

For example, I bought about 1K of Chainlink in 2017 at about 80 cents and $1.15. It went up to $20 in 2019. Unfortunately, I sold at around $8 something.

You have to know which alt coins to get, when and when to exit.

As I said, until you know more - just get BTC and Ethereum and hold it. Use a Coinbase Pro Limit Order (Youtube it.) Coinbase Pro and Coinbase have the same log in credentials.

Additionally, on the Coinbase page, there are some short quizzes you can take to get about $20-$40 in free coins. Immediately sell these for USD and then get BTC or Ether.

 

[Hog-train]

Which personal ledger and exchange do you recommend?

I recommend the Nano Ledger.

For exchanges, I'd recommend Gemini, Kraken or Binance USA. Coinbase customer service sucks.