Was anyone else long on Bitcoin Cash before today?

SO you lost nothing, and now have a "Carry Forward Loss" on your tax returns until your loss is absorbed.

Nice. Not a good long term strategy, but there's a small silver lining.

 

They will probably get super excited and full of energy. And maybe have to deal with some bitter tastes in their mouths.











Shit, my bad, you said “short”.

 

I was skeptical but put an amount I was willing to lose into Bitcoin a few months ago. I'm sure glad I did, I've never had any investment rocket up so fast, it is fun to watch. No doubt it is bound to come down eventually but right now it is gaining more and more credibility and more and more of the general public is starting to buy in - articles appearing everywhere about it, people are signing up on Coinbase so fast they are having trouble keeping up with the demand. There is certainly money to be made. There is a lag on connecting a bank account - credit card purchases are available right away (purchase amounts are pretty low on cc) but the value of Bitcoin grew 26% in the four days it took me to get my bank account linked and activate for purchasing. 26%!! Did it come back down a little, yes, but not much.

I think it's worth a bit of speculative investing for money to play with but I wouldn't bet my retirement fund on it.

 

Did you sell yet?

 

Ha! Shiiiit....I have like 0.0062 bitcoin lol How many races can I enter with that? lol

 

One.

 

um you only have spectator monays...lol
call me when your bitcoins mature!

 

But how do I fax it over? CCS only takes entries in person or through fax! LOL

 

I'll stick to Apple, Google, Red Hat, Amazon, and my other REAL investments before I'll throw money into this digital scam.

I'm in IT, and I'm just not convinced I want to sink real money into "currency" made of nothing more than digital bits.

I may invest in the companies that make the hardware for the servers that are fabricating this "digital Fidget Spinner" investment craze.
That would be a short term investment though. Invest some, see how the hardware stocks do...if I make %25 on my investment, probably time to get out.
But that's a BIG IF I would put money even into those.

 

I've been in IT for decades too. I have my big dollars in more safe investments, but crypto currencies aren't going away.
They could all drop in half overnight and I could sell and still walk away with a good chunk of play money.

 

Nvidia seems to have been doing pretty well

 

was just about to post that. really well actually. same principle that applied to the gold rush. find the company that supplied to rush that people couldn't live without. dude who sold pans and shovels and boots always did well irrelevant to anyone else's fortunes.

 

I have a customer who is doing the mining. He is a big techy, and he was telling us a little about it. He has been doing it for almost a year. He is playing both sides.

 

To me this looks like a cross between Amway and Las Vegas. If you get in early and know how to play the game you should be able to make some money but I think for every Bitwinner there will be a whole bunch of Bitlosers...

 

I have sold some, yes. Not just letting it all ride.

 

The amount of misunderstanding in this thread is comical.

 

This thread? How about the amount of misunderstanding in general? We should start with every single person who’s bullish on bitcoin because “it’s the future”, but can’t give a rational argument why.

Also since bitcoin is going to change the world forever and replace all forms of currency, why are we still referencing it’s value in dollars?

 

Because when you say things like this, it implies you have not done research to really understand how Finance and Economics works then add-in how Crypto disrupts the current model. Kind of hard to do in a motorcycle thread but there are places you can go to figure it out if you are so inclined.

For instance, did you know about the hundreds of cryptos that exist that all reference their value to BTC and why? Or why it doesn't matter how you reference in the world of FOREX or even Assets in general?

 

i have two economics degrees and do finance for a living. i'm still siding with him on his last point currently. teach us something, stop speaking in ad hominem generalities.

 

Whew, at least it is not just us idiots that poke holes in the ground that don't understand finer points of Bitcoin trading...