Bitcoin explosion and ALT coins thread

[forum poster]

I wonder how many people have suicided over bitcoin what-ifs.

I know a guy who made a lot of money years ago when the buy-in was cheap. I had no money so couldn't invest. Still should have tried to put whatever I could though. Should have borrowed money from relatives to invest lol... fml.

Anybody else feel like their the only one not getting rich on crypto?

Don't feel bad man. I'm easily in the red now with crypto. When it all crashed in 2017 I just decided to keep it all because you never know long term.

And let's not forget about that dude that had hundreds of bitcoin when it was worth almost nothing and bought a pizza with it.

edit.

It was even worse! dude had 10 thousand bitcoin and bought a pizza with it.. He would have had 270 million dollars by now if he kept it.. If ever you feel bad, just think about that poor guy!

https://www.investopedia.com/news/bitcoin-pizza-day-celebrating-20-million-pizza-order/#:~:text=On May 22, 2010, now,two delivered Papa John's pizzas.&text="It wasn't like Bitcoins,Hanyecz told the NY Times.

 

[thehighking]

Anybody else feel like their the only one not getting rich on crypto?

It's still very early to the party. The vast majority of people still know nothing about crypto. Over the long term as more people get into the market the demand and prices will go up. I'm expecting a crash soon enough though, maybe early next year.

 

[forum poster]

It's still very early to the party. The vast majority of people still know nothing about crypto. Over the long term as more people get into the market the demand and prices will go up. I'm expecting a crash soon enough though, maybe early next year.

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

 

[Henry Swanson]

Don't feel bad man. I'm easily in the red now with crypto. When it all crashed in 2017 I just decided to keep it all because you never know long term. Oh, lot's of people were say

And let's not forget about that dude that had hundreds of bitcoin when it was worth almost nothing and bought a pizza with it.

edit.

It was even worse! dude had 10 thousand bitcoin and bought a pizza with it.. He would have had 270 million dollars by now if he kept it.. If ever you feel bad, just think about that poor guy!

https://www.investopedia.com/news/bitcoin-pizza-day-celebrating-20-million-pizza-order/#:~:text=On May 22, 2010, now,two delivered Papa John's pizzas.&text="It wasn't like Bitcoins,Hanyecz told the NY Times.

Despite the astronomical rise in the price of Bitcoin it seems Hanyecz is not phased about his deal. "It wasn’t like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool," Hanyecz told the NY Times.

lol sure thing there buddy.

 

[Grassshoppa]

The biggest bank.
The first cryptocurrency created by a major U.S. bank is here — and it's from J.P. Morgan Chase.

The lender moves more than $6 trillion around the world every day for corporations in its massive wholesale payments business. In trials set to start in a few months, a tiny fraction of that will happen over something called "JPM Coin," the digital token created by engineers at the New York-based bank to instantly settle payments between clients.


Then you got pay pal, blackwater investment , fidelity and many others accumulating Bitcoin and other cryptos .

I feel like this is what will destabilize Bitcoin. Legitimate banks will create their own digital currently. If your bank is Wells Fargo then you use Fargo Coin. If your bank is JP Morgan you use JPM Coin. You enjoy the protections of an institution instead of no protection with Bitcoin. If you lose your key or you get hacked, you're out of luck with Bitcoin right? At least you're protected with a bank. And how long before Amazon creates it's own cryptocurrency that will put Bitcoin in the history books? All Amazon has to do is not accept Bitcoin and creates it's own.

 

[deviake]

I feel like this is what will destabilize Bitcoin. Legitimate banks will create their own digital currently. If your bank is Wells Fargo then you use Fargo Coin. If your bank is JP Morgan you use JPM Coin. You enjoy the protections of an institution instead of no protection with Bitcoin. If you lose your key or you get hacked, you're out of luck with Bitcoin right? At least you're protected with a bank. And how long before Amazon creates it's own cryptocurrency that will put Bitcoin in the history books? All Amazon has to do is not accept Bitcoin and creates it's own.

I can't speak to the part about banks, but you can buy "cold wallets" to store crypto offline. Can be lost, can't be hacked. Crypto isn't FDIC insured so yeah, if it's hacked (stolen) online off whatever site you're holding it on you're SOL

 

[kenetics]

I feel like this is what will destabilize Bitcoin. Legitimate banks will create their own digital currently. If your bank is Wells Fargo then you use Fargo Coin. If your bank is JP Morgan you use JPM Coin. You enjoy the protections of an institution instead of no protection with Bitcoin. If you lose your key or you get hacked, you're out of luck with Bitcoin right? At least you're protected with a bank. And how long before Amazon creates it's own cryptocurrency that will put Bitcoin in the history books? All Amazon has to do is not accept Bitcoin and creates it's own.

You need to do some research about bitcoin my man lol.

Doesn't matter if banks make there own coin or even the government. Bitcoin is owned by the people and no one entity.

People already have issues trusting the government and banks which have shown corruption.

 

[Grassshoppa]

You need to do some research about bitcoin my man lol.

Doesn't matter if banks make there own coin or even the government. Bitcoin is owned by the people and no one entity.

People already have issues trusting the government and banks which have shown corruption.

In that case I definitely don't trust the people. I don't trust banks either. Aren't people and banks the same thing? Isn't my money at the bank insured?

 

[kenetics]

In that case I definitely don't trust the people. I don't trust banks either. Aren't people and banks the same thing? Isn't my money at the bank insured?

Research the network of bitcoin. Never been hacked since it's inception. The miners are all contacted to the blockchain . People who use Bitcoin are part of the network.

Every Bitcoin that is moved through the system is recorded on the block chain. You can see where its moving or being used.

Please research why Bitcoin is above all other crypto.

 

[Grassshoppa]

Research the network of bitcoin. Never been hacked since it's inception. The miners are all contacted to the blockchain . People who use Bitcoin are part of the network.

Every Bitcoin that is moved through the system is recorded on the block chain. You can see where its moving or being used.

Please research why Bitcoin is above all other crypto.

Who created Bitcoin and why?

 

[kenetics]

Who created Bitcoin and why?

Google it my friend. It's good your asking questions but you should research it yourself and not just listen to me.

 

[Strychnine]

Facebook is trying to horn in on the action with Libra but they scratched that and it's now called "Diem."

"Facebook's much talked about cryptocurrency launch of libra has been ditched and instead the social media giant is part of a new digital currency named diem.

It will be supported by the Diem Association, which consists of 27 members, of which Facebook is one.

It is set to launch in January 2021 and there have been bold claims it will transform the financial services industry. "

What is diem? New digital currency to launch from Coinbase, Facebook and Uber | This is Money


Facebook is powerful enough. This would make it worth more than nations.

 

[Grassshoppa]

Google it my friend. It's good your asking questions but you should research it yourself and not just listen to me.

It won't matter. Apparently The Great Reset will destroy Bitcoin.

 

[D Train]

As some of you know, I've been in crypto for a long time. Bitcoin has broken old highs and is almost at 28k.

Institutional money is pouring in from all directions and I believe it's going to continue to rise.

Now I'm at a crossroads to sell some of my crypto because doing so I could pay off my house.. I'm having a hard time selling any of my Bitcoin because all the years I held it.

I tried to tell my family to invest yrs ago but they didn't listen. Now I'm getting calls from everyone I told lol.

It would be cool to have my house paid off though. My house is valued at $340,000

A paid off house would be life changing. You could use what you were paying to reinvest in Bitcoin if you wanted to.

 

[kenetics]

A paid off house would be life changing. You could use what you were paying to reinvest in Bitcoin if you wanted to.

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

 

[kenetics]

It won't matter. Apparently The Great Reset will destroy Bitcoin.

Not before I make this money haaà haa

 

[kenetics]

Facebook is trying to horn in on the action with Libra but they scratched that and it's now called "Diem."

"Facebook's much talked about cryptocurrency launch of libra has been ditched and instead the social media giant is part of a new digital currency named diem.

It will be supported by the Diem Association, which consists of 27 members, of which Facebook is one.

It is set to launch in January 2021 and there have been bold claims it will transform the financial services industry. "

What is diem? New digital currency to launch from Coinbase, Facebook and Uber | This is Money


Facebook is powerful enough. This would make it worth more than nations.

Yup. Problem is people don't trust Facebook because the lawsuit of link information from there users.

Again Bitcoin is not run by an entity.

 

[Grassshoppa]

Not before I make this money haaà haa

It will be gone before you know it.

 

[Cid]

It will be gone before you know it.

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

 

[kenetics]

It will be gone before you know it.

Nope hedge funds that no more about wealth are accumulating at Bitcoin . Their preparing for when the dollar loses value which it will. All currency have failed before.