Bitcoin explosion and ALT coins thread

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Wasn't going to cash it all out. But owning my 340k house would be Awsome at 35yrs old. Owning a house is an physical asset as well.

I do believe it's going to continue to go up but I became emotional attached to bitcoin because I held it even with all the uncertainty and volitilty. I know that you should never get emotional with any stock you owned. The funny thing is that I don't get emotional with my stocks I hold now but with Bitcoin I do lol.

You should probably sell half or 1/3 of it and if it goes down again buy more and if it doesnt then you make more, win win.
 
Dont feel bad, I am just as bad. I lost 25K 2 separate years trading futures contracts and ETF's. i also thought I was smarter than I actually am and lost about 50K in those 2 years.
bro i really wish i could act like you are as bad as me honestly, and i appreciate the sentiment
 
The fact that bitcoin threatens governments' control over the money supply doesn't make it far fetched that they might outlaw it. They could just say that it's a mechanism for avoiding consumption taxes or that it's instrument for illegal activity.

You think that's beyond belief? THe US government confiscated gold during the 1930s. they actually went house to house to collect it.

Yes they could do that, but they won't. Why?

Because Bitcoin is decentralized and run by independent miners all around the world. Any person can start mining in their basement. The US may ban it, but then they would just fall behind every other country that embraced it.

A US ban would not stop all the other people around the world. Secondly, a US-based person can just easily use a VPN or proxy to take part in it.
 
Yes they could do that, but they won't. Why?

Because Bitcoin is decentralized and run by independent miners all around the world. Any person can start mining in their basement. The US may ban it, but then they would just fall behind every other country that embraced it.

A US ban would not stop all the other people around the world. Secondly, a US-based person can just easily use a VPN or proxy to take part in it.

This.
 
I’ve heard so much talk against bitcoin with Dan over the years, no standard makes sense understandably so, but wrong is wrong and right is right.

shoulda coulda woulda.

If ya’ll had it, chances are you would have sold it long before now.

Given 66% of overall US currency has been printed in the last 10 months this could be the future.
 
Let's not forget the huge mining systems setup around the world, especially China, bitcoin isn't as decentralised as people think........try a security coin like Monero
 
Yes they could do that, but they won't. Why?

Because Bitcoin is decentralized and run by independent miners all around the world. Any person can start mining in their basement. The US may ban it, but then they would just fall behind every other country that embraced it.

A US ban would not stop all the other people around the world. Secondly, a US-based person can just easily use a VPN or proxy to take part in it.

I saw something recently that said over 50% of mining is done by 5 Chinese companies.
A is this correct.
B doesn't this pose a risk of a 51% attack?
 
I’ve heard so much talk against bitcoin with Dan over the years, no standard makes sense understandably so, but wrong is wrong and right is right.

shoulda coulda woulda.

If ya’ll had it, chances are you would have sold it long before now.

Given 66% of overall US currency has been printed in the last 10 months this could be the future.

Ya. I was holding during it's dark age when it crashed. I held strong to see it rise from the ashes .
 
Ya. I was holding during it's dark age when it crashed. I held strong to see it rise from the ashes .

A good investor isn’t a trader. He sees potential in something long term and sticks with it high and low.

I know Jack Shit about stocks, but I listen to shit on it every morning to familiarize.

I’d suck a dick to go back 10 years...
 
A good investor isn’t a trader. He sees potential in something long term and sticks with it high and low.

I know Jack Shit about stocks, but I listen to shit on it every morning to familiarize.

I’d suck a dick to go back 10 years...

Stocks are great to have because you gain the equity as it grows. Some even pay dividends quarterly.

The best part is that you only get taxed 15% if you keep it longer than a year.

No wonder the wealthy put their money in stocks and IRAs.

Why pay taxes at your income when you can pay 15% in capital gains.
 
Stocks are great to have because you gain the equity as it grows. Some even pay dividends quarterly.

The best part is that you only get taxed 15% if you keep it longer than a year.

No wonder the wealthy put their money in stocks and IRAs.

Why pay taxes at you income when you can pay 15% in capital gains.

from what I understand most new investors think more about capitalizing on flipping their stock rather than reaping the equity.

“buy low sell high”

that’s not how income investing works. People often confuse traders with income investment.

p.s., I don’t know shit about investing. I’m just interested in it and listen to a show about it every day for the last year on my way to work.
 
I saw something recently that said over 50% of mining is done by 5 Chinese companies.
A is this correct.
B doesn't this pose a risk of a 51% attack?

Yes it's correct. Chinese miners account for more actually - like 65% of the hashrate.

However, it is extremely unlikely that there would be a 51% attack. Why?

Because that would involve collusion from tens of thousands of individual Chinese miners.

Remember that any individual person can start mining. It just so happens that China happens to have relatively affordable electricity and resources. Plus the Chinese government is pushing for blockchain development.

On top of that - a 51% attack wouldn't even be that effective. To get maximum profit during an attack, all the miners would need to cash out via crypto exchanges. However, this presents big problems because most exchanges have withdrawal limits and Know Your Customer requirements. It also doesn’t make much economical sense for attackers to dump a big chunk of Bitcoin at once.

Another big reason the US government is not going to ban BTC - because they will be just left in the dust to other countries like China.
 
Yes it's correct. Chinese miners account for more actually - like 65% of the hashrate.

However, it is extremely unlikely that there would be a 51% attack. Why?

Because that would involve collusion from tens of thousands of individual Chinese miners.

Remember that any individual person can start mining. It just so happens that China happens to have relatively affordable electricity and resources. Plus the Chinese government is pushing for blockchain development.

On top of that - a 51% attack wouldn't even be that effective. To get maximum profit during an attack, all the miners would need to cash out via crypto exchanges. However, this presents big problems because most exchanges have withdrawal limits and Know Your Customer requirements. It also doesn’t make much economical sense for attackers to dump a big chunk of Bitcoin at once.

Another big reason the US government is not going to ban BTC - because they will be just left in the dust to other countries like China.

Yup. Other countries are starting to mine Crypto as well. Usa is being left behind when it comes to this like you said .
 
Yes it's correct. Chinese miners account for more actually - like 65% of the hashrate.

However, it is extremely unlikely that there would be a 51% attack. Why?

Because that would involve collusion from tens of thousands of individual Chinese miners.

Remember that any individual person can start mining. It just so happens that China happens to have relatively affordable electricity and resources. Plus the Chinese government is pushing for blockchain development.

On top of that - a 51% attack wouldn't even be that effective. To get maximum profit during an attack, all the miners would need to cash out via crypto exchanges. However, this presents big problems because most exchanges have withdrawal limits and Know Your Customer requirements. It also doesn’t make much economical sense for attackers to dump a big chunk of Bitcoin at once.

Another big reason the US government is not going to ban BTC - because they will be just left in the dust to other countries like China.

The key aspect is that its only 5 Chinese companies with over 50%.

Push comes to shove i doubt their independence from the party's wishes.

Its proposition as the best store of wealth over the USD is questionable to me.
 
There was this fabulously handsome poster named WorldofWarcraft who made a thread on here years ago BEGGING people to buy bitcoin when they were $15 a piece and nobody took his advice.

Absolutely fantastic and legendary thread starter.
I was gonna mention I always remember the thread(s) I thought maybe it was from OP but yeah it had to be 2012 or even a few years earlier when it was priced like that. I thought about it just because it was so cheap but had 0 understanding and was just lazy. Every now and then like with this tread I'm reminded of that.
 
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