Was anyone else long on Bitcoin Cash before today?

Discussion in 'General' started by Knotcher, Nov 12, 2017.

  1. SPL170db

    SPL170db Trackday winner

  2. KrooklynSV

    KrooklynSV Usual Suspect

  3. BigBird

    BigBird blah

    so yeah......

    upload_2021-1-8_10-6-56.png
     
    TurboBlew likes this.
  4. Venom51

    Venom51 John Deere Equipment Expert - Not really

    Still not buying it. Good for anyone that got in early and takes their money.
     
    The Todd likes this.
  5. redtailracing

    redtailracing gone tuna fishin'

    Ugh, I get bummed anytime I see this thread or any other reminder of bitcoin. I had up to almost 3 coins at one time with less than $1k of my own cash invested :(
     
  6. rafa

    rafa Well-Known Member

    Dang it, I bought some earlier this year when was only 5800. But bitched out soon after, bitcoin scares me because there is nothing backing it up, but would have been nice to keep it, could sell now and get a new race bike.
     
  7. motion

    motion RockyMountainMotos.com

    Have been trying to get into my coinbase and binance accounts for 4 days now... locked out because I have a different phone number and having no luck resetting it due to servers being overloaded. Losing my buy opp :(
     
  8. Venom51

    Venom51 John Deere Equipment Expert - Not really

    Well you should just go walk into a branch and get that corrected by talking to a human.
     
    badmoon692008, Banditracer and motion like this.
  9. Knotcher

    Knotcher Banned


    Go grab your wallet and look at the cash in it. Now think about how the federal reserve adds more and more money into the system and ask yourself how much that “backing” is helping you.
     
    23103a likes this.
  10. R Acree

    R Acree WTF

    Hal is busy now.
     
    The Todd likes this.
  11. Venom51

    Venom51 John Deere Equipment Expert - Not really

    Ask them what happens if they happen to misplace the magical key.
     
  12. Monsterdood

    Monsterdood Well-Known Member

    Are there some sort of Bitcoin tracking funds where you invest with a standard brokerage and someone else is in charge of managing the keys and codes and all? Seems like that would simplify the interface and eliminate the whole I changed my phone or lost the digital key issues. Could probably Google it, but figured it would be more interesting to discuss it here.
     
  13. Venom51

    Venom51 John Deere Equipment Expert - Not really

    I think that would kind of defeat the point.
     
    BigBird likes this.
  14. Knotcher

    Knotcher Banned

    yeah. That’s what online wallets can do.

    this is really simple though. Don’t lose your key. You can make as many copies as you want. Make a couple or three digital copies. Make a couple paper copies.

    Don’t store them all at your house.

    This is the lamest argument against cryptocurrency.
     
  15. Knotcher

    Knotcher Banned

    Disclaimer.

    I no longer own any btc. I sold my last bit early this week. I think Bitcoin is a dead end and is only being propped up because there is so much investment in it. It is technically terrible.
     
    BigBird likes this.
  16. rafa

    rafa Well-Known Member

    I was more comparing it to stocks, where they are backed by a company that has assests and or IP.
    Its also hard to compare the dollar to bitcoing when it comes to volatility, the money in my wallet event without "backing" will most likely buy the same thing now and it will 6 months from now. The bit coin could be 10x more, or i could be worthless.
     
  17. redtailracing

    redtailracing gone tuna fishin'

    Maybe this is your sign that now isn't the time to buy...
     
    motion and BigBird like this.
  18. TX Joose

    TX Joose Well-Known Member

    The IRS is supposed to be putting some bitcoin questionnaire on tax forms this year. Banks are jumping in. Dollar is continuously weakening with all the money printing going on. The fact that the government is trying to get involved (when is was a load of shit to them years ago). Should tell you everything you need to know.

    How much debt does the US have again? Why can't we just go ahead and pay it off with all that gold that's backing it?

    Oh wait..
     
  19. Venom51

    Venom51 John Deere Equipment Expert - Not really

    Shit we make up is shit we make up. None of it is real...
     
    BigBird likes this.
  20. Knotcher

    Knotcher Banned

    Yep. Securities and commodities have intrinsic value. Fiat and cryptocurrencies are 100% "because we agree it has value". Crypto just has some crazy benefits over horse and buggy money. I don't want to shill for things, but I'm long on Nano and will be holding it for a very long time. It has no transaction fees, is nearly instant for transactions to complete on the ledger and completely decentralized. One could transfer any amount of nano from one wallet to another. It's based on proof of stake instead of proof of work, so it isn't burning up GPUs and electricity for no good reason.

    BTC takes forever, has extremely high fees and is environmentally terrible.
     

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