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Old 10-30-2017, 11:08 AM   #1
In-Yo-Grill
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Default Bitcoin...Cryptocurrency

Seems to be gaining traction and it seems I'm hearing more about it in the past few months. Anyone ever look into it?
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Old 10-30-2017, 11:12 AM   #2
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Yes... decided to inform myself and buy some a few years back.
It has turned out to be far and away the best performing investment I've ever made... over 10x value in about 3 years... and I didn't get in at a particularly good time.
I keep having to stop myself from selling it.
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Old 10-30-2017, 11:14 AM   #3
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Wish I would have bought about 1K dollars of it when it first came out. I would have been a multi millionaire by now.
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Old 10-30-2017, 11:57 AM   #4
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If you like to gamble and are ok with losing everything, crypto currency may be for you.
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Old 10-30-2017, 12:08 PM   #5
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How do you buy virtual currency?
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Old 10-30-2017, 12:11 PM   #6
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I made a lot of money on them and wish I wouldn't have sold them when I did.
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Old 10-30-2017, 12:12 PM   #7
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Quote:
Originally Posted by In-Yo-Grill View Post
Seems to be gaining traction and it seems I'm hearing more about it in the past few months. Anyone ever look into it?
http://discussions.texasbowhunter.co...hlight=bitcoin

http://discussions.texasbowhunter.co...hlight=bitcoin

http://discussions.texasbowhunter.co...hlight=bitcoin
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Old 10-30-2017, 12:39 PM   #8
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Bitcoin at a all time high 6,300 a bitcoin
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Old 10-30-2017, 12:50 PM   #9
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I remember when this came out and thought it was some kind of scam. I guess I should have bought some.
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Old 10-30-2017, 04:55 PM   #10
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Thanks for the links. Shows how volatile it can be in a short period of time.
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Old 10-30-2017, 05:02 PM   #11
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You missed the boat. Wish I would've gotten in years ago. Now I can't see myself buying into bitcoin.

Litecoin and Ethereum are the up and comers that you may want to get into.

https://www.coinbase.com/charts
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Old 11-27-2017, 11:06 PM   #12
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Almost hit 10,000 Geez
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Old 11-27-2017, 11:15 PM   #13
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Almost hit 10,000 Geez
Thanks to crypto I may be able to buy a ranch here soon. I only started trading it 6 months ago.
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Old 11-27-2017, 11:16 PM   #14
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Almost hit 10,000 Geez
Bitcoin was only around 3k when I last commented in October.

Wish I would've bought just 1!
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Old 11-27-2017, 11:37 PM   #15
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The bitcoin craze reminds me of the ostrich (and chinchillas) fad a number of years ago. Those that got in early and got out made money. Those that stayed in or got in late...lost.

For the life of me I can't make any sense of some bookkeeping entry that increases so much in such a short amount of time...for no discernible reason or value.

There will be blood.
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Old 11-27-2017, 11:51 PM   #16
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Y'all need to watch the Netflix doc on it. Very interesting. Wish I would have got into earlier as well.
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Old 11-28-2017, 12:05 AM   #17
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Originally Posted by Burnadell View Post
The bitcoin craze reminds me of the ostrich (and chinchillas) fad a number of years ago. Those that got in early and got out made money. Those that stayed in or got in late...lost.

For the life of me I can't make any sense of some bookkeeping entry that increases so much in such a short amount of time...for no discernible reason or value.

There will be blood.
Yep... This won't end good for many..
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Old 11-28-2017, 12:15 AM   #18
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Three more posts to Pope and Young. Go bitcoin!
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Old 11-28-2017, 01:44 AM   #19
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I bought 3 coins at 2100 sold at 6100 about 3 weeks ago made money and got out. Checked it today...9500. If your gona do it get in and get out.
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Old 11-28-2017, 05:09 AM   #20
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I bought 3 coins at 2100 sold at 6100 about 3 weeks ago made money and got out. Checked it today...9500. If your gona do it get in and get out.
Be glad and don't look back. Crash will be big on this one.
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Old 11-28-2017, 05:39 AM   #21
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Quote:
Originally Posted by Burnadell View Post
The bitcoin craze reminds me of the ostrich (and chinchillas) fad a number of years ago. Those that got in early and got out made money. Those that stayed in or got in late...lost.

For the life of me I can't make any sense of some bookkeeping entry that increases so much in such a short amount of time...for no discernible reason or value.

There will be blood.


The reason why it is doing so good is due to to fiat currencies around the world that got away from the gold standard. Without gold backing a currency, the currency really is only worth the paper it is printed on. There is evidence that the price of gold is being manipulated, keeping it artificially low. Bitcoin has not been manipulated in the same way gold has been manipulated and as I understand there is a set number of bit coins out there and more are not being made. As more people buy bit coin, itís price increases.
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Old 11-28-2017, 06:16 AM   #22
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I dont understand how nothing can be worth something, but I do know that a hacker could take your bitcoins and you really would be SOL.
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Old 11-28-2017, 06:49 AM   #23
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Decided to buy a little bit and have made a few bucks in a few weeks. Can't believe it's shot up so fast.
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Old 11-28-2017, 07:08 AM   #24
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I bought 3 coins at 2100 sold at 6100 about 3 weeks ago made money and got out. Checked it today...9500. If your gona do it get in and get out.
2100/6100/9500 what?? $2100/$6100/$9500??
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Old 11-28-2017, 07:09 AM   #25
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I have a good friend that is heavily into Bitcoin. He makes sure to pull a certain amount out at certain times to ensure he doesn't lose everything, but it looks like him and his wife may be able to retire a decade or more ahead of schedule.

Sent from my SM-G950U using Tapatalk
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Old 11-28-2017, 07:10 AM   #26
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The bitcoin craze reminds me of the ostrich (and chinchillas) fad a number of years ago. Those that got in early and got out made money. Those that stayed in or got in late...lost.

For the life of me I can't make any sense of some bookkeeping entry that increases so much in such a short amount of time...for no discernible reason or value.

There will be blood.
Ah chinchillas . Glad I had enough sense to stay away from that one
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Old 11-28-2017, 07:20 AM   #27
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I honestly don't think it's going away anytime soon. The company Square recently announced an integration with BTC. Overstock.com accepts BTC as payment and the CEO said that in 2018 they will give a discount for people paying in BTC.
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Old 11-28-2017, 07:43 AM   #28
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Quote:
Originally Posted by Burnadell View Post
The bitcoin craze reminds me of the ostrich (and chinchillas) fad a number of years ago.
Quote:
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Ah chinchillas . Glad I had enough sense to stay away from that one
The emus were fun as well.




To hunt after they all got turned out! Ate pretty good as well.
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Old 11-28-2017, 07:43 AM   #29
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I honestly don't think it's going away anytime soon. The company Square recently announced an integration with BTC. Overstock.com accepts BTC as payment and the CEO said that in 2018 they will give a discount for people paying in BTC.
I have to agree - There is a lot of speculation that suggests that while this form of currency is "new", it is becoming more widely accepted. Some see that as a bad thing, others see it as a launching point up to hundreds of thousands of dollars.
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Old 11-28-2017, 08:08 AM   #30
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It has all the earmarks of a bubble. It will eventually burst.
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Old 11-28-2017, 08:11 AM   #31
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I'm with the "how could nothing be worth something crowd".

There's a guy here at work that "mines" crypto currency.
He's got a building, in his back yard, full of computers, and fans, and AC units that run 24 hours a day. When they break some kind of algorithm, he gains a "coin" in his "wallet".
He said his electric bill, to operate that "mine" is about $1,600 a month, and he "mines" about $1,400 of coins a month.
His plan is to build a bigger "mine", so he will actually make money off of it. He's already got two partners, that have invested money and a third is in line.

He said it doesn't take much to start a "mine", but it takes a pretty big "mine" to actually make money. To me, it seems like if anyone can set this up, and generate "money" from nothing, it really can't be worth anything ... just like printing counterfeit bills.

Burnadell's emu/ostrich/chinchilla analogy is spot on, I think.
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Old 11-28-2017, 08:16 AM   #32
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I guess I am just old and set in my ways but I can't wrap my thoughts around the bitcoin craze. But I guess it's not much different than the fiat currency we use every day.
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Old 11-28-2017, 08:16 AM   #33
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Quote:
Originally Posted by Burnadell View Post
The bitcoin craze reminds me of the ostrich (and chinchillas) fad a number of years ago. Those that got in early and got out made money. Those that stayed in or got in late...lost.

For the life of me I can't make any sense of some bookkeeping entry that increases so much in such a short amount of time...for no discernible reason or value.

There will be blood.
But people said that when Bitcoin first ran up to $350. Then when it ran to $1,000 more people said the same..and on and on and on.

But now that nearly everyone who can/could/would buy already made their decision how much higher can it go? They need to make it even easier for common non investor street folk to buy partial coins to keep it moving IMO
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Old 11-28-2017, 08:23 AM   #34
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guys it isnt going away. blockchain is the new internet. banks and most all major financial companies are hiring blockchain developers like crazy. especially ethereum. soon the stock market as you know it will be run on the blockchain and traditional stocks will be tokens.
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Old 11-28-2017, 08:27 AM   #35
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Quote:
Originally Posted by Texastaxi View Post
I'm with the "how could nothing be worth something crowd".

There's a guy here at work that "mines" crypto currency.
He's got a building, in his back yard, full of computers, and fans, and AC units that run 24 hours a day. When they break some kind of algorithm, he gains a "coin" in his "wallet".
He said his electric bill, to operate that "mine" is about $1,600 a month, and he "mines" about $1,400 of coins a month.
His plan is to build a bigger "mine", so he will actually make money off of it. He's already got two partners, that have invested money and a third is in line.

He said it doesn't take much to start a "mine", but it takes a pretty big "mine" to actually make money. To me, it seems like if anyone can set this up, and generate "money" from nothing, it really can't be worth anything ... just like printing counterfeit bills.

Burnadell's emu/ostrich/chinchilla analogy is spot on, I think.
Well...the gov't makes "money" from nothing all the time so that part doesn't phase me.

I believe the "value" here is in the technology. The blockchain technology seems like it will revolutionize security for all kinds of applications.
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Old 11-28-2017, 08:31 AM   #36
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Between Bitcoin, Ethereum and Litecoin, you could make money every day trading.
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Old 11-28-2017, 08:41 AM   #37
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One of my good friends bought in at 200 years back. He just bought a Mercedes G-Wagon cash. Its like gambling sometimes, but this one paid off.
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Old 11-28-2017, 09:12 AM   #38
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Originally Posted by In-Yo-Grill View Post
Well...the gov't makes "money" from nothing all the time so that part doesn't phase me.

I believe the "value" here is in the technology. The blockchain technology seems like it will revolutionize security for all kinds of applications.
The government does a lot of things that the people can not.
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Old 11-28-2017, 09:28 AM   #39
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The government does a lot of things that the people can not.
So far they can't control cryptocurrency. New York tried and failed miserably. Drove business' out of their state.
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Old 11-28-2017, 09:37 AM   #40
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Between Bitcoin, Ethereum and Litecoin, you could make money every day trading.
This is what I have been doing since the beginning of August. I have made a fair amount of money. So far I have increased my money by 50%. Currently Im completely in cash waiting to see what this latest run-up does. I also bought into an ICO and so far it is up 10-20%. That investment is truly a very risky/high reward play.
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Old 11-28-2017, 09:38 AM   #41
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I bet the IRS is having a grand time trying to figure out how to track the gains people are making on this stuff. I hope they never do.
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Old 11-28-2017, 09:44 AM   #42
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I bet the IRS is having a grand time trying to figure out how to track the gains people are making on this stuff. I hope they never do.
Dilly, Dilly...

I'm extremely new to this but see the benefits of playing with some discretionary income. Few bucks here and there can pay for more toys and trips to use them.

So far it can't break the 10k ceiling. Been watching all morning.
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Old 11-28-2017, 09:50 AM   #43
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So far they can't control cryptocurrency. New York tried and failed miserably. Drove business' out of their state.
With any luck it will keep going and force governments around the world to stop scamming the general population.
We need something like this to shake things up. Tired of all governments just printing more money..then taxing us more also...then blowing it all on BS
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Old 11-28-2017, 09:51 AM   #44
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They need to make it even easier for common non investor street folk to buy partial coins to keep it moving IMO
Coinbase has done just that. Make an account and you can easily buy/sell through their website.
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Old 11-28-2017, 09:51 AM   #45
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I had a good laugh when Jamie Dimon - JP Morgan's CEO, said (@the $5000/bc mark) that people buying bitcoin were stupid because it was worthless and the only value was its ability to launder money. I thought right there, how dumb his own statement was - implying there isn't massive global value in a "legitimate" money laundering conduit.
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Old 11-28-2017, 09:54 AM   #46
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OP, it's a "fun" investment, but I would by no means invest a large portion of savings into it. There are also a lot of ups and downs, so I have left mine in for a while and try my best not to withdraw.
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Old 11-28-2017, 09:58 AM   #47
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Coinbase has done just that. Make an account and you can easily buy/sell through their website.
Gemini is another trading website for Bitcoin and Ethereum.
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Old 11-28-2017, 10:02 AM   #48
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Coinbase is pretty easy to use. It's still hard for me to have money in crypto but I'm getting more and more use to it as it makes a profit. I'm always afraid that I'm going to type the decimal in the wrong place and send too much money...lol
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Old 11-28-2017, 10:08 AM   #49
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What kind of commission does coinbase take when you use them? Y'all have my interest peaked, and I'm thinking about dabbling a little.
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Old 11-28-2017, 10:14 AM   #50
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What kind of commission does coinbase take when you use them? Y'all have my interest peaked, and I'm thinking about dabbling a little.
Too much in fees and spread when using Coinbase. However if you use gdax which is Coinbase also, you can trade for zero fees using limit orders. Market orders cost .25 % i think.
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