I pulled the trigger on Bitcoin. Anyone else invested?

[BvillePoker]

After doing some research I decided to pull the trigger and invest in Bitcoin about a month ago. I have made about 45% on my original investment. I also invested in Ethereum because I felt that it had support from its proprietary block chain technology that is used for digital transactions. I have made about 30% on that investment. I know there is a much larger risk with Bitcoin, but it has a massive potential upside. I think since banks and exchanges like JP Morgan and PayPal etc. have put some major skin in the game it is on its way to becoming a value store hedge against inflation like gold. I think the biggest risk to ROI for Bitcoin is what the Biden administration treasury will do with regulation of digital currency exchanges.

Anyone else invested in digital currencies?? See any other bullish or bearish tendencies for digital currency?

 

[Dally1up]

Better question is has anyone ever traded a bc in for cash? Can it be done?

 

[TPOKE]

Better question is has anyone ever traded a bc in for cash? Can it be done?

"How to turn Bitcoin into USD through Coinbase. After you are in the sell section of the wallet, you can select the wallet you wish to sell from and the bank account you wish to deposit to. Enter the amount of USD that you are wanting to get from selling your BTC."

From Google.

 

[EvilPOKES]

Better question is has anyone ever traded a bc in for cash? Can it be done?

It can. Hell, there are "ATM" machines out there that let you. Remember seeing one in austin not long ago (couple years).

 

[WestCoastPoke]

After doing some research I decided to pull the trigger and invest in Bitcoin about a month ago. I have made about 45% on my original investment. I also invested in Ethereum because I felt that it had support from its proprietary block chain technology that is used for digital transactions. I have made about 30% on that investment. I know there is a much larger risk with Bitcoin, but it has a massive potential upside. I think since banks and exchanges like JP Morgan and PayPal etc. have put some major skin in the game it is on its way to becoming a value store hedge against inflation like gold. I think the biggest risk to ROI for Bitcoin is what the Biden administration treasury will do with regulation of digital currency exchanges.

Anyone else invested in digital currencies?? See any other bullish or bearish tendencies for digital currency?

Yes,

been in the game since 2013. Used to have 15 bitcoin (bought at $100). Sold at $500...Ouch...I still have some now along with ETH, XRP, VET, and NEXO

 

[WestCoastPoke]

Better question is has anyone ever traded a bc in for cash? Can it be done?

Done all the time. The on and off ramps into crypto are everywhere now especially in the US

 

[squeak]

In BTC and ETH. Also have the GBTC ETF.

To the question about trading it for cash, come on man. They have a BTC atm at a gas station in Piedmont for gawd’s sake.

 

[squeak]

Question for you guys, what wallets do you use that accept btc from a paper wallet?

 

[Dally1up]

In BTC and ETH. Also have the GBTC ETF.

To the question about trading it for cash, come on man. They have a BTC atm at a gas station in Piedmont for gawd’s sake.

Im bc illiterate

 

[PDT816]

Im bc illiterate

Bitcoin is a ponzi scheme that gets new investors in to inflate the price on fabricated excitement.

It's had two of the biggest bubbles in history in the last 8 years or so with values catering 60 and 80% in a matter of days.

I wouldn't touch it

 

[Ostatedchi]

I only use Bitcoin as a transactional medium. I get it when I need it and use it. But I don't sit on it with any hope of increased value.

 

[Ostatedchi]

Bitcoin hit $40,000 today. Wow.

 

[poke2001]

Bitcoin is a ponzi scheme that gets new investors in to inflate the price on fabricated excitement.

It's had two of the biggest bubbles in history in the last 8 years or so with values catering 60 and 80% in a matter of days.

I wouldn't touch it

Any different than TSLA?

 

[OSUIvan]

Better question is has anyone ever traded a bc in for cash? Can it be done?

bitcoin atm - Google Search

www.google.com

 

[Dally1up]

10% fee lol

 

[squeak]

Bitcoin is a ponzi scheme that gets new investors in to inflate the price on fabricated excitement.

It's had two of the biggest bubbles in history in the last 8 years or so with values catering 60 and 80% in a matter of days.

I wouldn't touch it

Bitcoin isn’t going away. I would recommend 1-2% of your portfolio be in crypto.
https://www.google.com/amp/s/www.cn...of-cryptocurrency-to-keep-in-a-portfolio.html

 

[tcpoke]

Russell Okung to Be 1st NFL Player Paid in Bitcoin; $6.5M of Panthers Salary

The Carolina Panthers will pay half of Russell Okung 's $13 million contract for 2020 in Bitcoin, according to NFL Network's Ian Rapoport ...

www.google.com

 

[NeekReevers]

I thought I read that Okung wasn’t actually getting paid in Bitcoin he’s just converting it after he gets paid.

 

[tcpoke]

I thought I read that Okung wasn’t actually getting paid in Bitcoin he’s just converting it after he gets paid.

They had to go through a conversion company, but he isn’t paying the associated fee, the team is.

 

[SomeBeach]

PayPal and Square allow transactions using Bitcoin. I have heard doing so is a hassle, but that might have been just after they launched those offerings. They likely have the kinks worked out by now. Both PayPal and Square also provide the ability to purchase Bitcoin on their websites (or apps).

I purchased my Bitcoin on Robinhood. I bought in at about $17.5K. I was invested in Grayscale Bitcoin for a while, but bailed on it when I found out it wasn’t marginable. So now my Bitcoin derivative is Microstrategy. It’s a software company that invests very heavily in BTC. When BTC moves, MSTR moves accordingly. Obviously, it’s a risky play, but so far I’ve done well.

 

[SquinkY5786]

I got in at one point and bought 200 bucks in tron. Was at 1100 in a few weeks. Held on thinking it was going to the moon. Ended up at 150 bucks. Ended up trading for ethereum and at around 360.

 

[Deepfork]

After doing some research I decided to pull the trigger and invest in Bitcoin about a month ago. I have made about 45% on my original investment. I also invested in Ethereum because I felt that it had support from its proprietary block chain technology that is used for digital transactions. I have made about 30% on that investment. I know there is a much larger risk with Bitcoin, but it has a massive potential upside. I think since banks and exchanges like JP Morgan and PayPal etc. have put some major skin in the game it is on its way to becoming a value store hedge against inflation like gold. I think the biggest risk to ROI for Bitcoin is what the Biden administration treasury will do with regulation of digital currency exchanges.

Anyone else invested in digital currencies?? See any other bullish or bearish tendencies for digital currency?

I've just registered with Coinbase and Binance to get into the market. Will purchase Bitcoin and Ethereum along with some Dogecoin and Cardeno to start.

 

[EvilPOKES]

I've just registered with Coinbase and Binance to get into the market. Will purchase Bitcoin and Ethereum along with some Dogecoin and Cardeno to start.

I bought about 1100 doge this week. Up 2 bucks lol

 

[JonnyVito]

I am in AMP and ALGO. Also Bitcoin and I threw in on one called COMP.

 

[CBradSmith]

What's the value-add of BTC over traditional currency?

 

[JonnyVito]

What's the value-add of BTC over traditional currency?

Basically there is only like 21 million BTC out there so it in a way is like when the dollar was backed by gold instead of them just being able to print as much as they want. So if it goes off and becomes main stream then you will really see the price take off.

 

[CBradSmith]

Basically there is only like 21 million BTC out there so it in a way is like when the dollar was backed by gold instead of them just being able to print as much as they want. So if it goes off and becomes main stream then you will really see the price take off.

Do the run-ups and sell-offs somewhat mirror gold percentagewise?

 

[JonnyVito]

Do the run-ups and sell-offs somewhat mirror gold percentagewise?

I am going to be ignorant here as I only really buy worthless jewelry and coins for gold and silver and I don't ever sell so I hardly follow gold. I do know as demand increases that increases the price. So the more this goes main stream the more it will drive price. I am not really sure that it follows gold like when the stock market goes down gold rates are driven up. Now when markets do drop I personally think prices do go up. The only real problem I hate about all this crypto is prices will rise and then a bunch of people sell and the increase then isn't as much or then you see a drop. The way I am investing in BTC is I won't buy unless it is under 50k. When it drops like that I usually buy. I bet with these stimulus and relief bills that have and will be passed and the national debt rises you see BTC go up also. That is how I see it anyways but I am just an insurance dude having fun with my retirement money instead of letting someone else gamble with it.

 

[squeak]

Do the run-ups and sell-offs somewhat mirror gold percentagewise?

No

 

[squeak]

What's the value-add of BTC over traditional currency?

No one controls Bitcoin. It’s controlled by its own technology. Total number is capped. Every Bitcoin transaction is recorded on the chain. It’s not editable.

So, where fiat currency is controlled by a government and backed, as Pilt would say, by banking regulations, Bitcoin’s “regulation” is its own technology that can’t be altered. Fiat currency is unlimited and, as I mentioned above, Bitcoin is capped.

 

[hoffmas]

No one controls Bitcoin. It’s controlled by its own technology. Total number is capped. Every Bitcoin transaction is recorded on the chain. It’s not editable.

So, where fiat currency is controlled by a government and backed, as Pilt would say, by banking regulations, Bitcoin’s “regulation” is its own technology that can’t be altered. Fiat currency is unlimited and, as I mentioned above, Bitcoin is capped.

I keep hearing the Bitcoin is capped argument for why it will continue to rise... and I somewhat agree, but what is there to stop another coin / alt currency from becoming as successful as Bitcoin has? Is it just barrier to entry or the fact that they were first to market?

 

[JonnyVito]

I want to make my monthly buy of BTC and keep trying to wait till it drops close to 50k. Every damn time it does drop I get busier then a goat at the cow farm and forget to buy. By the time I get home that shit is back up to 57k or almost 60k. Does everyone buy crypto at night?

 

[squeak]

I want to make my monthly buy of BTC and keep trying to wait till it drops close to 50k. Every damn time it does drop I get busier then a goat at the cow farm and forget to buy. By the time I get home that shit is back up to 57k or almost 60k. Does everyone buy crypto at night?

It’s tanking now.

I think there are a lot of people out there just like you so it has a lot of resistance at 50.

 

[JonnyVito]

It’s tanking now.

I think there are a lot of people out there just like you so it has a lot of resistance at 50.

I want to pull the chain tonight but a part of me wants to see how the night goes. I think investing any where around 50-55k you can't go wrong right night.

 

[CowboyJD]

What's the value-add of BTC over traditional currency?

I don't know a whole lot about it. Certainly not enough to invest.

One of the value-adds that I have been told about in LE classes is that bitcoin wallets accounts can be held and identified by code alone so there is no ability for LE to track true identities like in bank accounts and what not.

Quite a few drug dealers dealing in bitcoin for large transactions I've been told. I don't handle drug cases so I can't vouch for the accuracy of that.

 

[squeak]

I don't know a whole lot about it. Certainly not enough to invest.

One of the value-adds that I have been told about in LE classes is that bitcoin wallets accounts can be held and identified by code alone so there is no ability for LE to track true identities like in bank accounts and what not.

Quite a few drug dealers dealing in bitcoin for large transactions I've been told. I don't handle drug cases so I can't vouch for the accuracy of that.

So you’re telling me it’s potentially easier to identify criminal activity than using cash? That’s the exact opposite of what the dear leaders say. Interesting.

 

[CowboyJD]

So you’re telling me it’s potentially easier to identify criminal activity than using cash? That’s the exact opposite of what the dear leaders say. Interesting.

I’m not sure we are tracking.

What I have been told is that it’s harder to track bitcoin transactions for the purposes of identifying criminal activity than criminal activity involving cash.....both because that cash has to go into either some account where the actual identity is verified or be stored in bulk where it is subject to being discovered and seized.

I’m also saying I don’t know enough about it to agree or disagree. I’m not involved in prosecution of many crimes involving financial transactions (drug dealing, fraud, embezzlement, white collar). I’m more of a guns and if someone bleeds, that’s the case for me guy.

 

[JonnyVito]

I don't know a whole lot about it. Certainly not enough to invest.

One of the value-adds that I have been told about in LE classes is that bitcoin wallets accounts can be held and identified by code alone so there is no ability for LE to track true identities like in bank accounts and what not.

Quite a few drug dealers dealing in bitcoin for large transactions I've been told. I don't handle drug cases so I can't vouch for the accuracy of that.

You don’t work in the firearm division do you asking for a friend.

This was basically how I first learned of BTC was from the Silk Road fall out basically. There was two FBI guys that as they investigated the website and ownership learned about BTC. They went total rogue and just started buying BTC. Think they are rich now and not in the FBI. Basically I have heard it is untraceable this why governments and banks are leery of endorsing it. I would think terrorist and such could do the same as the drug dealers.

 

[CowboyJD]

You don’t work in the firearm division do you asking for a friend.

This was basically how I first learned of BTC was from the Silk Road fall out basically. There was two FBI guys that as they investigated the website and ownership learned about BTC. They went total rogue and just started buying BTC. Think they are rich now and not in the FBI. Basically I have heard it is untraceable this why governments and banks are leery of endorsing it. I would think terrorist and such could do the same as the drug dealers.

Yes, I handle firearms crimes.

Among other things....

But only in one little county in Oklahoma.

You’re....I mean your friend...is probably safe.

 

[squeak]

I’m not sure we are tracking.

What I have been told is that it’s harder to track bitcoin transactions for the purposes of identifying criminal activity than criminal activity involving cash.....both because that cash has to go into either some account where the actual identity is verified or be stored in bulk where it is subject to being discovered and seized.

I’m also saying I don’t know enough about it to agree or disagree. I’m not involved in prosecution of many crimes involving financial transactions (drug dealing, fraud, embezzlement, white collar). I’m more of a guns and if someone bleeds, that’s the case for me guy.

IMO it’s easier to track criminal activity with BTC bc it’s logged on the black chain. Imagine your life logged on a public forum and your ID was “CowboyJD” and we get to see everything you’ve ever done.