At the end of the day, at bitcoin we can say we tried something. BitCoin is still largely in the early adopter - early majority investments of its bitcoin cycle. The bigger blocks do exactly nothing to help investments the scaling that bitcoin needs while others currencies like Reddit and Ethereum already service the need for a spendable currency. I have a separate bank account for the money Reddit get Ubering every weekend over the past few years. Bitcoin to see I am co-invested with a degenerate like investments. There was an extended bear market after one of the big exchanges crashed and caused a lot of people to believe something was inherently flawed with reddit.
You need to buy low and sell high to make money. Submit a new text post. If million people owned bitcoin 1 in 75 humans, which is very reasonable , each person could only own 0. We previously collected donations to fund Bitcoin advertising efforts, but we no longer accept donations. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. The legal status of Bitcoin varies from country to country, with some still banning its use.
Investments because Bitcoin payments lack anti-fraud, cash-back, tax simplicity, good accounting reporting, and all the other features of reddit boring credit card. How many bitcoin did Reddit Caesar spend for his gold? He talks bitcoin this in one of this points. No one should save in a currency ever. We previously collected donations to investments Bitcoin advertising efforts, but we no longer accept donations.
Sure do, last November I imagined that it would triple in like it did in , so I bought a bunch I think it's at least tripled since I bought it. This won't likely jump to k in a month or two. You'll have to wait until late before it hits 6 figures. This dip is completely normal anyway, 5th one this year of similar size, one of many over the years. Well let me correct that. I hope bitcoin dies IF nothing changes and the fees remain stupidly high. If the fees get reduced like i hope for then I dont mind at all.
I'm not saying bitcoin is a ponzi scheme but comments like yours sure make it sound like it is. Can someone please tell me what HODL means? I've looked in the FAQ section, the beginners section, all over the subreddit and I see it used all the time and in the 3 months or so I've been coming here, I've never seen it posted anywhere what HODL stands for.
Yeah -5 on HODL Seems there is lots of new people here lately. Here you go friend, piece of history: I read the first page and is it just a typo and you guys rolled with it? It produced lots of memes that are quite sweet: My only question is, what was he drinking? He was drinking "Whisky" not "Whiskey". Probably Whisky alright - he appears not to have enough class to know good whiskey I find this unacceptable. Yeah what are you some sort of weakling?
If friends or family say anything bad about bitcoin, you must remove them from your life immediately so you dont get poisoned! Most investors are like sailors where stocks are the Mediterranean Sea. Sometimes there are storms but even the rough seas are relatively tame compared to the North Sea cryptos. It's still early in the game. Investing in something and following it is just asking for panic sells. Plus, if you were investing in Bitcoin, you probably believed in it up until 3 months ago when it started gathering idiots who thought they'd be able to buy a k sports car in few weeks.
I mean, if you invest and don't stay with your goals of the investment, that's your own fault and you shouldnt have invested in the first place. I think its good we are having this correction, so people just coming in for big gains will think twice before they do.
But if you understand what crypto has to offer as a whole, there's no reason not to follow it. If anything a 'rise' of anywhere close to that would herald the opposite of a continued rise.
This is especially if you are using swings to gauge emotional decisions. Just set a rule and stick to it unless there's some extreme news. I'm not saying make impulsive descisions. But crypto space is innovative enough to follow in general. Not specifically the investment, as you should always have a goal when you do it. Just stick with that and look for more opportunities. You do realize owning a share of a business interest and putting money on a horse race is the same thing.
Look up the definition. I was told I'm going to be Bitcoin Billionaire; https: Nobody gives a fuck about you or your lambo dreams, brother. You have no control over that outcome and if anyone told you that btc always goes up guaranteed they are guilty of either malice or incompetence.
Lol bro I was just jk with this shit post that's all - I out 6k in just for fun I'm not expecting lambos. I have a feeling he will hodl until bitcoin is replaced or goes below their purchase price. Then 5 guys invested, they reaped, then guys invested, they reaped In fact the climate seems different now. Wall Street involved, everyone knows about bitcoin. Not clear there will be the acceleration of capital influx needed to keep the party moving forward. Never know when the bear hits and it looks uncertain here.
This means that further forks like Bitcoin Cash won't be necessary for solving the problems of bitcoin's scalability. In the near future, we could very well realize the dream of paying for morning lattes and everything else with bitcoin. Accordingly, large increases in bitcoin's valuation would accompany widespread adoption. BTC is the collectible of crypto. The wealthy all want it like jewelry or a piece of art. Have to have something to brag about at the Club. So its gonna be conversation piece.
Like when 50 cent bought a ferrari f50 just to say he got one too. I wouldn't want a Lambo if I could afford it. I'll keep my Volvo V50 until it dies of old age. Maybe a s model. I want more bitcoins.
News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. No referral links in submissions.
No compilations of free Bitcoin sites. Trades should usually not be advertised here. For example, submissions like "Buying BTC" or "Selling my computer for bitcoins" do not belong here. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system.
Do not post your Bitcoin address unless someone explicitly asks you to. Be aware that Twitter, etc. Related communities Sorted roughly by decreasing popularity. Welcome to Reddit, the front page of the internet. Become a Redditor and subscribe to one of thousands of communities.
Want to add to the discussion? Bitcoin's value is based on its utility. Bitcoin has utility because fiat has failed us on large scales, not because it's difficult to buy coffee with fiat. You don't need to "be your own bank" to buy coffee. People worried about cheap payments are missing the point. That will come eventually but it's not the biggest part of Bitcoin's demand right now. Just look at this sub. People are clearly buying out of speculation.
I hold cryptos--it is entirely speculative beyond its use on darknet markets. It also has a use as a curb against inflation, but even that depends on its speculative value.
This is the truth of the vast majority of people buying, even most of those pretending that it is for the revolution. Maybe you aren't one of those people You are deluding yourself if you think the price isn't based on speculation and people hoping to just sell it for higher. To be fair, the biggest part is also not that fiat has failed us and Bitcoin is better which it clearly is.
The biggest part is people wanting make money on the rise. For every person that believes in Bitcoin for the right reasons, there are 20 that get in to get out at a better price. I bought bitcoin solely to make money, tbh. I don't think anyone can really be faulted for trying to earn some extra dough. Bitcoin is the ultimate fiat currency. Governments can create demand for their currency by requiring all their citizens pay taxes in that currency, whereas Bitcoin's value is entirely because the market says it has value, because there's nothing forcing you to use it.
Taxes are not the main driving force of demand on fiat money. If you know there's going to be more things produced tomorrow, you'll know that your dollar today will have more purchasing power tomorrow. The economy will demand more money until the utility in spending a dollar today is equal to the utility of spending a dollar tomorrow.
The debate for the value of bitcoin is one of its future utility. The increase of price is a reflection of the information explosion about bitcoin; more people know about it now so naturally more people demand it.
It's not that the same population of people are buying more and more coin though that is happening , it's that there are more people trading. People are banking on the hope that transforming their money into bitcoin today will allow them to purchase more in the future. Bitcoin, being the premier cryptocurrency, has a lot of promise for future utility. There is absolutely no doubt that it will be used in the future and we know that it's deflationary attribute will increase its settled, natural price.
That's the big gamble I'd say skepticism is very healthy for the price of bitcoin. The more volitale and risky it is, the fewer idiots pouring their entire life savings into it. Those would be the idiots that would cause a crash. So let's calm down and be moderate Nothing is really new expect for the big number plastered on it. The idea that supply creates its own demand is not generally accepted by economists , and it certainly doesn't work the way you're phrasing it.
I don't need dollars specifically. Yes, they want to buy bitcoin with dollars so that they can sell it for more dollars in the future. The price goes up, so more people buy it in hopes of selling at a profit, which causes the price to go up. The price of Bitcoin can't go up infinitely, so eventually it'll stop growing, and the speculators will cash out, which will probably cause a crash.
Of course there are doubts. There could be a market crash followed by all the speculators leaving forever. Dogecoin could become more popular since it's exactly as good. There's literally no reason Bitcoin is the "premier" crytpocurrency except that it's more popular. Someone could discover a way to hack it.
Growth could stall out. A million things can happen. Hell, if there's a recession, a lot of people will leave Bitcoin in search or more stable investments. Sounds like a bad deal. This is the problem. So I send extra and that money just gets tied up in a wallet somewhere. I get that it's cool to spend Bitcoins, and I would love to get there someday, but I get the following with my credit card:.
I've used this one at least half a dozen times now where Amazon lowers prices and I get a check mailed to me. Not to mention a lot of other perks for other purchases. For airfare, I get delay and baggage coverage. For rental cars I get primary insurance coverage. Why would you spend the good money? Spend crappy fiat first Then pay it with fiat. Bitcoin is somewhat costly and inconvenient to acquire. When planning to sell Bitcoin anyways, sure, spend it.
Or for an international payment or a natively digital purchase that is only really reasonable to do with Bitcoin But otherwise, I'd want to see a pretty substantial discount. Especially because Bitcoin payments lack anti-fraud, cash-back, tax simplicity, good accounting reporting, and all the other features of a boring credit card.
From an economics standpoint, Bitcoin is deflationary and why I wouldn't spend it, maybe ever! It will only grow more valuable as there is less and less. Spend your fiat instead. Or another crypto that has less value. Deflationary currencies can discourage impulse buys, but not purchases that are required to maintain your standard of living. The main difference vs inflationary systems is that people with savings wouldn't get screwed over by rampant inflation.
Hell, even GDP wouldn't suffer, because all that capital gains from savings would just be another source of income as far as the government is concerned. To offset reduced consumerism, corporations would simply hold savings and benefit from the deflation. The politicians would still get to point to growing GDP and pretend it was thanks to them, everyone would have the same or higher standard of living, but there would be less rampant consumerism filling up the landfills with crap.
Merchants who sell less from reduced consumerism would still make up for it in capital gains. This is what our society needs, as far as I'm concerned. Realize that happy, financially independent citizens are preferable to those living paycheck to paycheck whose houses are full of crap they don't use.
I'm very happy that my bitcoins are there as a huge if somewhat illiquid emergency fund in case of god knows what, and I've bought gaming laptops, guitars, electronic components, VPN access, steam games, and god knows what else with them.
I have no regrets. And the actual deflationary rate of bitcoin is fairly low. The huge rise you're seeing these days is some combination of adoption and speculation and liquidity spikes.
These are things that WILL become less pronounced as bitcoin truly goes mainstream and becomes more liquid. It's easy to invest in bitcoin without risk if you balance your spending elsewhere. I've cut back on spending for new games, eating out, etc and instead use that money to buy bitcoin. I have a separate bank account for the money I get Ubering every weekend over the past few years. I bet he put his money where his mouth is and published his wallet address just like all the other talking heads make sure to do.
At the point of my life I don't care if it drops to 0, but if it goes to some crazy number I'll be in the stratosphere with it. Invest what you can live without. Life is long, tho. Everyone is shouting the sky is falling and Bitcoin will burst but I also see the price rising. What do you think? I see a bunch of armchair anarcho-capitalists talking about being first in on the New World Order. Yep very well said.
I don't think people should be going without essentials just to buy in that's for sure. But I wouldn't be doing my friends and family right if I didn't tell them I think its worth buying in so they have a piece of the pie when it takes off.
Spend that cigarette money on bitcoin lol. My investment is nearly 10k. I would be FAR more pissed about missing out on the gold rush than about losing my 10k. I have a backup plans and this endeavour is my ultra risk, where my main assets are ultra conservative. Same here bought 1 Bitcoin and that's it if it goes to k i buy a house if it goes to zero im usd poorer wich would suck but i would survive and cut my los.
Love how you put it. At the end of the day, at least we can say we tried something. Life sucks and its short, so go for it. I'm either going to burn bright or be extinguished. The middle ground can do the rest and be conservative. But the last point is not true. Reaching k or k doesn't mean that the prevailing regime has fallen.
One does not imply the other. BTC can reach this price and have the current regime still running. A good investor is calculated and unemotional. A good investor has a plan and executes on it, revises it with reliable new information, but otherwise stays the course. A bad investor is irrational and emotional. They get worked up and constantly second guess themselves; they get worked up by crowds. They freak out at rapid increases and buy high, they freak out at rapid decreases and sell low.
Accidentally leaving my brokerage keyfob at home has resulted in some of the better trading "decisions" that I've made. For most people, if they over-extend themselves, they will behave more like a bad investor even if they know better It can be easy and fun to visualize the million dollar Bitcoin and the private space elevator you're going to finance with your new found wealth If you aren't, you're going to do something different than what your own dispassionate analysis would tell you to do.
Probably the hardest thing about this is that the fears that drive bad trades are not completely ill-founded. But given the volatility of Bitcoin, "seldom again prices" are pretty rare, and happen in both directions-- so while it's possible to miss out, but you shouldn't let that drive your decision making. People tend to think only about the option they're considering and forget that for every trade someone else is taking the opposite position.
Another thing to keep in mind is that trading itself involves fees, which are incrementally small but add up. You can make every decision correctly but still lose a lot of funds if you trade frequently. It's not enough for a trade to be right, it has to be right enough to overcome its overheads e.
You can improve your odds both of not wasting funds in fees and of making poorly considered emotional decisions by behaving more passively. The prevailing introspective question on anybody's death bed is always - What if? What if I had bought at 10,? Buying Bitcoin is not a investment. The percentage rebalancing point is an interesting and wise one that isn't mentioned here very often.
We all talk about dollar cost averaging to mitigate risk and reduce stress but being conservative with enormous gains seems to me equally prudent. I liked that part as well. I didn't earn that money, and it was essentially won in a gamble. Bitcoins have been increasing like crazy year over year. There is nothing specific in this post as to why not to invest. As long as you're investing for the long term you're good.
This post just compels you to worry over it. It's like saying "invest.. Worrying over your investment isn't going to make it better. In fact it's more likely to get you to make worse decisions. If you invest some money in it then do it for the long term.
Put the money into it and then don't worry about the weekly fluctuations. And just like you invest in the stock market you should invest a little amount. Don't invest everything you got into this. Just like any other investment that involves risks. There are only around 4 million BTC left to be mined. The law of supply and demand is kicking in big time with BTC. The spice is running out. I just sold my last pair of boxer for btc. All my assets are in BTC and I plan living in my car untill it reaches k..
I sold some bitcoin at 10k to reduce my bitcoin dominant portfolio and doing cartwheels with what I have gained. This should indicate how poor I am, but I felt like I won a small lottery or the price is right. I'm as optimistic as anyone here, but greed is all consuming and will cloud your judgment. If you see the opportunity to cash out with major gains, take it and don't look back or count the money lost, only the money gained that you really didn't earn.
I got a bonus from work and I opted for a television instead of one bitcoin when it was 5k Now my heart dies a little when I watch movies on it. Just spend 10k on bitcoins, turns out I bought 10k of Chuck E. Please help, my wife is going to divorce me. Someone else will buy the btc you sold. Yes nobody is psychic but we do know BTC is genius, and very limited. It will never go to 0 sorry.
Let's revisit this post in a year. Someone richer than I am buy this guy a gold for life This is what I have been trying to say in this forum for a week or two now. I invested a bit in bitcoin. The other day my friend asked if he should invest in bitcoin as well. I told him, it is no different than taking a 10 shots of whiskey and sitting at the blackjack table. So, do not ever put the money you can't lose on bitcoin.
Just saying, you know I also found that amusing when writing it, but as they always say, past performance is no guarantee of future results. If you made a bundle of money by dollar-cost averaging into BTC for a long period of time, then IMO you were a smart investor and should be proud. If you win the jackpot on a slot machine, that's a good time to stop: If you make a lot on reckless Bitcoin trades, that's a good time to stop being reckless and consider prudent investing going forward.
Otherwise its the prove you doubt your own words.. Those who did in , won in the end. This is one of those cases where being reckless according to old money helps. If you have a lump sum, spend the lump sum. There's papers on this dating back to the 60s and 70s, it's never optimal to Dollar Cost Average.
I agree with everything in this post but feel the need to mention that I have read a lot of warnings about an upcoming "correction" or even "crash".
They talk about BTC's value going to 5K as if it were the end of everything. They key word as always is: Even with the large swings, don't try to get rich instantly, good things come to those who wait. If you buy now and sell in 5 years, even after a huge "crash" you will have still won massive returns compared to the present.
That's a great investment in my book. Don't worry about "corrections" or "crashes", worry about the long term trend. That's assuming it'll keep the upwards trend for 5 years. I think it will, but I'm retarded. Think about it this way: There's a reason theymos suggests rebalancing your portfolio on big price increases like this.
Getting wrapped up in "HODL" memes, reddit comments, and other groupthink, which is sometimes fun, but absolutely the last appropriate source of investment advice. It became a meme for a reason though. Buy and hodl is a strategy that has proven itself for the last 9 years without fail. And it could stay there for months and this would still be considered a "winning strategy.
Exactly - "buy and hold" is a great investing strategy See Enron circa In traditional long-term asset investing, "buy and hold" is the mantra to avoid emotional irrational decision-making. But even then, you [should] periodically re-evaluate your investment case for that asset to ensure there has not been a material change that affects your calculations of that asset's value.
Certainly that's much harder to do with Bitcoin, considering it's not a tangible asset with traditional valuation models. I've seen so many posts like this, I'm starting to think that the "be careful! It's a case study of GTAT, a company that everyone though would only go up, but instead it went bankrupt. You can watch the chaos unfold on an internet forum the morning when trading is halted.
Can't be said often enough. There are people doing stupid things on not enough research and the price growth is calling them geniuses. It doesn't work like that long term.
Don't even get me started on what's wrong with that question Always use a jimmy hat with the girl from the bar. Never trust a fart. You can call it a bubble if you like. Follows the logarithmic curve from like 2 years ago to within a week of precision for the 10k mark.
The thing about bubbles is that a they don't last long and b you can't predict them unless you're the one calling the shots. The importance for Bitcoin is the number of people buying some. I personally think it's value is directly related to this. Not how much they spend individually. How much we each spend now is our own call on how rich we're hoping to be in the future from it.
So if anyone is trying to have a more solid understanding of how much they should value Bitcoin then look at the number of people who own some. If it correlates with it's market value you can make a call on the price being over or undervalued.
On this group beginners can ask questions without fear of not getting to the first page. /r/BitcoinBeginners is not for posting new websites, memes, faucets, affiliate links, news, blog articles. Questions only. Thanks. Scalability/BU/ Segwit2x/BCH/etc: only specific/technical questions and answers that are relevant to beginners. Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and. AnalysisWill Ethereum be a Better Investment than Bitcoin in ? ( wearebeachhouse.com). submitted 14 hours ago by andix3 comment karma. 11 comments; share; save. hide. report. Technical AnalysisPlus Side of The Correction (wearebeachhouse.comMarkets). submitted 18 hours ago by.