Joined: Jan '09
Location: Italy
Age: 53 (M)
Posts: 3871
I just want to warn everybody around to get yoursef informed about blockchain tecnologies ( on which Bitcoin is based and is the first application of it).
Happily I see some mobsters already opened their eyes but there are still crappy comments from misinformed people ( no offense to anyone by the way) like Pyramid scheme, ponzi, Hyip and so on.
To show you the revolution that is already starting just spend some minutes reading this article on cnbc site ( it's just one of the hundreds article written every week about these topics)
explaining how IBM and a consortium of seven major banks are interested in blockchain tecnologies.
Some time ago I tried involving fellow mobster TheMachineGQ into bitcoin movement but he didnt have the patience to follow: guess you are regreting now since Bitcoin is worth 6x the value it had when we got in touch.
Lastly just to comment about volatility issue: yes you are all right about its volatility and this is a great concern for some people...not for me until it keeps doing this
PS: "never invest more than you can afford to lose" rule applies at crytpomarkets
I read a few people who borrowed money from the bank and now they do not even have enough to pay the loan .... you can forget about profits altogether .... after all, every day getting bitcoin is getting harder and harder ... I forecast in the near future Time of the collapse
Posted by pajalnick: ... I forecast in the near future Time of the collapse
Are you willing to make a bet on this ( I mean a symbolic one just for fun)?
I don't wanna act as the defense attorney of Bitcoin but just want to friendly suggest you to inform yourself about it , evaluate its possibility and use cases and the whole "bitcoin 2.0 revolution" ( all the new products that came after Bitcoin and that are based on similar technologies and only after make your choice to play or to fold this card.
Just consider that blockchain tech are now studied into universities and that bank, multinationals and several government set themselves in learning position towards it.
I was superficial with Bitcoin back in 2011 ( still regret about it); than embraced it in late 2013, when it really seemed I was too late , only to discover we are in front of an infant.
Joined: Oct '14
Location: Serbia
Age: 34 (M)
Posts: 4358
magatt IMO you are right with evry single word... its a pitty that I dont have enough money to invest... Maybe in near future I get some $$ and invest in crypto
Posted by magatt966: I just want to warn everybody around to get yoursef informed about blockchain tecnologies ( on which Bitcoin is based and is the first application of it).
Happily I see some mobsters already opened their eyes but there are still crappy comments from misinformed people ( no offense to anyone by the way) like Pyramid scheme, ponzi, Hyip and so on.
To show you the revolution that is already starting just spend some minutes reading this article on cnbc site ( it's just one of the hundreds article written every week about these topics)
explaining how IBM and a consortium of seven major banks are interested in blockchain tecnologies.
Some time ago I tried involving fellow mobster TheMachineGQ into bitcoin movement but he didnt have the patience to follow: guess you are regreting now since Bitcoin is worth 6x the value it had when we got in touch.
Lastly just to comment about volatility issue: yes you are all right about its volatility and this is a great concern for some people...not for me until it keeps doing this
PS: "never invest more than you can afford to lose" rule applies at crytpomarkets
It wasn't really about patience... I just didn't understand how to earn bitcoins on the forum you told me you were making 20 bucks a day on. I tried posting there a couple of times and tried to read a FAQ about how to earn bitcoin by posting on the forum and I didn't find anything. I had no idea what to say in posts either and If I need info I can just google it... It's not like I'm passionate about BTC, I just want the $. Some shady miners/faucet websites killed part of my motivation too... It's just no regulated enough so hackers and scammers can do whatever they want. Felt like I was earning 0.01 cent/hour so I gave up. No regrets though, not my type.
Joined: May '08
Location: Lithuania
Age: 39 (M)
Posts: 10090
loved reading magatt's post but one thing that strikes my mind is that we really shouldn't look at bitcoin as a currency, most hype i see here and everywhere else is "oh look i invested in bitcoin x years ago and now i'm rich blah blah"... not that i hear someone saying same about $ or € unless it's forex with a zillion:1 leverage... so my point here is that bitcoin is more like a very speculative investment instrument more than a currency (virtual or not). oh and yeah on a side note- blockchain technology will probably be implemented by banks in near future but that's a separate topic from bitcoin itself.
Joined: Jan '17
Location: Lithuania
Age: 66 (M)
Posts: 1756
Yes I also like to read all this information about bitcoin in this post and I thank all people who write here, i personally don't use bitcoins and this is because i just don't need it, i can pay with normal money for everything I need, so I am probably too old for bitcoins
Joined: Mar '09
Location: Greece
Age: 47 (F)
Posts: 14136
Lots of us have regreted not jumping on the wagon with bitcoin. But mortgaging your house for it, no mater if you got rich or not is a stupid move. And not only for bitcoin, but for any kind of investment. Like you said magatt, if you can afford to lose it go with it, if not, stay out. And here applies the warning, you see in many fx trading sites, banks etc, which says "Past Performance Does Not Guarantee Future Results".
Now about where the high of it will be in the future, for example reaching 10000 like Bill Gates said, is just speculations. And the real reason why it has succeeded so far, and has done such a good run, is because a lot of dirty money is moved with it. Take for example the latest hack. They are asking to get paid in bitcoins.
If the ones running the game, see it is ruining their agenda, they will crush it. If they can make a profit, they will adopt it...
If volatility is not one of your concerns magatt, then you have missed the whole point of it, if you are betting on it as a currency pair If you are into mining it, solo or not, although from what i have read solo, is pretty much dead and you need to take big risks, in order to make a profit, then it is another thing. Who can guarantee you it will keep doing whats on the graph?
Joined: Oct '14
Location: Serbia
Age: 34 (M)
Posts: 4358
nobody can guarantee, but it has great odds to do so... do you know than only 15% or so people have heard of bitcoins, and that number increase... so value of bitcoins will increase... only thing that can bring down bitcoin is other crypto currency...
Joined: Nov '14
Location: Macedonia, The former Yugoslav Republic of
Age: 43 (M)
Posts: 1169
I really dont get how, HOW u guys think that central banks all over the world will lose control willingly of their enormous power that they have to crypto currency, they already own bitcoin and all other crypto currency, u think im full of BS, just google it, see who owns the majority of bitcoins, and ull get the full picture, Banks want a cashless society, but they knew they cant push for it after all the s**t they pulled in 2008, so all of a sudden out comes this Japanese guy and invents Bitcoin, no1 knows who this guy is and where he comes from, bank people prop it up i mean the value of the crypto currency, they let people play with it for a while to see the advantages of the currency, and after a while they bought most of the currency, banks invented it, they own it, they control it, and u r left with the illusion that banks cant control it
Joined: Mar '16
Location: Macedonia, The former Yugoslav Republic of
Age: 49 (M)
Posts: 2395
PS: "never invest more than you can afford to lose" rule applies at crytpomarkets Blink Cool Edited by magatt966 (Tuesday, June 27, 2017 @ 10:22 GMT)
I think this rule applies to gambling Do not gamble more than you're ready to lose I've been reading about this for a few years, but it was not clear to me what is bitcoin, what you can pay white bitcoin,to which market would put my bitcoins,I do not understand much about investment in the market and it was written that it was a currency for the future surely this time will come
Joined: Dec '12
Location: New Zealand
Age: 33 (M)
Posts: 504
I was hoping someone as informed as magatt would comment. i too am not bothered by its volatility since its what makes it profitable although expensive.
its not a real life currency but a internet one. even 'real' money is used for drugs etc ... my main concern is that since its not a big presence here as say europe it seems like a bigger risk in trying to buy it.
Joined: Mar '09
Location: Greece
Age: 47 (F)
Posts: 14136
I really do not understand what you are saying by "its not a big presence here as say europe it seems like a bigger risk in trying to buy it." Its a crypto currency, as you say, an internet one, so how you can localize it? Same risk buying it, from any place on the planet
Joined: Feb '11
Location: United Kingdom
Age: 59 (M)
Posts: 5712
It's all about 'stuff' that you buy with your own money and sometimes that 'stuff' becomes more valuable or less valuable, dependant on the relative market or demand for it. It's like currency exchange...which I guess not many of us dabble in.... or stocks and shares..... it's all like gambling, but with a commodity being traded by others which affects how valuable your 'stuff' is in your own hands.
Joined: Jan '17
Location: Lithuania
Age: 66 (M)
Posts: 1756
I don't like to risk my money on such investment like bitcoin or some other virtual currency, i just don't think this is real thing, i better invest in stocks of big company with many well known products or buy some real estate, but take risk in some product that most people don't need and don't understand is very big risk
Joined: Mar '09
Location: Greece
Age: 47 (F)
Posts: 14136
bitcoin is the "currency" for some that are after some fast gain, or fast money. With the hi and lows it hits every day, you only need to buy once low and sell high, to make a very nice profit. Dropping a bit the last couple of days.
Joined: Jan '09
Location: Italy
Age: 53 (M)
Posts: 3871
Here is a simple image showing how revolutionary and with uncountables use cases bitcoin/blockchain technology is.
Price , volatilty, scams and so on are something secondary in my humble opinion.
PS: thumbs down are not a problem for me but they would be better if followed by an explanation of the reasons of them. This is the only way I know to have an entertaining and constructive discussion and to grow an opinion on things
Joined: Dec '12
Location: New Zealand
Age: 33 (M)
Posts: 504
Posted by Mober: I really do not understand what you are saying by "its not a big presence here as say europe it seems like a bigger risk in trying to buy it." Its a crypto currency, as you say, an internet one, so how you can localize it? Same risk buying it, from any place on the planet
i mean because say in europe its easy to purchase it since its 'common' and I have read about bitcoin ATMs so its easy to buy/get. here on the other side of the world people would of heard of it but wouldnt know the ins and outs of it so finding a safe source is the hard part when going to a ATM/special bank would be much easier and reassuring
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Posted by magatt966: Here is a simple image showing how revolutionary and with uncountables use cases bitcoin/blockchain technology is.
Price , volatilty, scams and so on are something secondary in my humble opinion.
PS: thumbs down are not a problem for me but they would be better if followed by an explanation of the reasons of them. This is the only way I know to have an entertaining and constructive discussion and to grow an opinion on things
i did see the -1 and wouldnt be surprised if it was from themachine since he was name dropped and didnt quite agree with you
Joined: May '08
Location: Germany
Age: 59 (M)
Posts: 6786
Robbo, as you have to access the internet to purchase bitcoin anyway, it doesn`t matter where you are located, as long as you can connect to the web. You could even be in Antarctica. That is the charm of the concept.
The IQ level around this forum is off the charts. Robbo1990, when I downvote people they deserve it. They're not just saying an informed opinion, they're being retarded. That's when I downvote someone. So obviously I never downvoted Magatt because he's not a retard. Definetly downvoting your stupid post though. People that think they know what people think behind a computer need to go see a psychiatrist... they're everywhere too. Argue with someone over something on the internet and they think you hate them instantly? Lol. Well I don't cause I'm not a retard and I understand that 2 persons can have difference opinions about something.
