Crypto Currencies ~ " Duck Tales Spin From The Crypt"

You have to enter a 25 alphanumeric code to the new exchange. It's in your wallets tab under your new exchange account. You would click on deposit and it will give you the key, you plug that key into your old exchange wallet when you click withdraw and you put it there. For caution I warn you, transfer a small amount first to make sure it goes smoothly then do the rest. If you are on a desktop it's easier, just copy and paste. Don't mess up that 25 character key.

 

This thread makes me depressed. Got offered a Bitcoin for helping install a lift 6 years ago, but never heard of it. I think it was like $60 per at the time. Would have made a nice 10k profit on that one coin...guess I should have looked into it more.

 

Lol man I know. I spent 15k from January this year to the end of May on Ethereum. It was $8 in January. If I had spent all 15 k initially I'd be Rollin. From May to now I've just been day trading with what I had and made more that way.

 

My biggest concern with this all is that it seems to be growing like the real estate boom in 2007. House prices kept going up and up and up and up, and then everything crashed so bad that millions lost everything.

When you have a market item that has increased over 10,000% in what, 5 years? There is a huge concern over market death. This new bid by the IRS to force the release of account info is one of them. Eventually the IRS will force every wallet company to reveal their information so they can tax US citizens. (I will qualify this by saying that every citizen SHOULD pay fair and proper taxes) So will this scare the market? I know cryptocurrency is worldwide, but face it, the US ups and downs drive the rest of the world market. So I would be curious about the long term. The value of something goes up or down based on it's demand. A US Federal suit, or even the threat of it, could drive the demand, and thus the value, into a downward spiral. These are my concerns. I've actually been in the recent past considering accepting crypto for my bearings. Just not sure how many people would actually use that option, and what it would cost me in transaction fees.

 

Cryptocurrency is most certainly in a bubble, the latest correction was a fraction of what's to come.

But with the new implementations of cryptocurrency into public use (Starbucks, Amazon, stock market) it will continue to rise simply from publicity.

However,
https://www.theverge.com/2017/11/29/16715296/nasdaq-bitcoin-futures-long-short

Sounds a lot like CDO's in 2007-2008

 

As long as it keeps rising, I will be fine, corrections will need to happen here and there.

 

It may not be considered a bubble as it is not yet widely held. Also, since the average person can still buy a fraction of a btc, that also classifies it as not a bubble.

 

I admit right now I feel like I screwed myself. I was given an opportunity to buy into BC back in 2016 when I could buy 1BC for $25 each, if I agreed to buy $1000 worth. I saw it as a huge risk and didn't see a solid future for it. It just seemed shady to me. If I HAD bought in at that quantity and price, I could cash out for close to $400,000 after a $1000 investment. Over the two years I would have been vested, It would have equated to what, a 400% ROI? lmao.

 

"An economic bubble or asset bubble is trade in an asset at a price or price range that strongly exceeds the asset's intrinsic value"

The reasons you listed as to why it's not a bubble, are the exact reasons I think it is a bubble... BTC is selling for $10.5k+ and it has really no purpose in society yet. The price range strongly exceeds it's intrinsic value imo.

You could purchase a fraction of a house (down payment) in 2007-2008, and that turned out to be a housing bubble.

 

So out of general curiosity, as I have some spare money in an investment that is crawling at a snail pace, what wallet and such do those who are active in the trade recommend? I am assuming there are transaction fees and such to get and maintain a wallet, as well as buying BC?

 

your last statement is incorrect. a down payment does not mean you own that amount of the house. it just lowers the amount of financing needed.

if you bought .00000001 of btc, you own that amount.

 

Brand new to all this but I wanna get into it anyone have some suggestions of where and who to start buying from?? Message me so it doesnt get lost.

 

So after reading through this whole thread I am kicking myself for not following my instincts and buying into BTC back when it was brand new and still less than a dollar per coin

Oh well... got a couple hundred into LTC and a little bit into ETH and BTC too just to see what happens now.

 

If I put 20% down on a house, I don't own 20% of that house correct. But I also didn't pay 20% in pure interest, there is principal in there too.

 

I would check out litecoin. there pretty cheap right and look promising

 

you are correct, if you put 20% down, you don't own 20% of the house.

Not sure where you're going with the interest statement...

 

Guess if getting technical one wouldn't own ANY portion of the house until the final payment is made. The bank still owns 100% of the house. I promise you if you have a $500 payment left on the house, and you don't pay it, the bank will foreclose and you don't get SHIT! hahaha.

 

you are absolutely correct.

 

The latest correction shows 2 things. One, that it is a true free market, when people sell it drops and when they buy it goes up. Two, the fact that it goes through corrections and rises and corrections shows that it is not a bubble.

 

What do you mean by forks?