Heimdallr Posted October 27, 2017 Share Posted October 27, 2017 On 10/25/2017 at 10:50 AM, Uncle Buck said: One thing I'm wondering about is which exchange to use. I was going to use Coinbase, but unfortunately, I live Minnesota - one of the few states in which they are still not cleared to do business. Do you have any experience with Kraken? I use Coinbase in Minnesota.... Don't use Kraken. 1. It takes forever to get authorized and they require a lot of strict documentation. 2. Their interface for buying/selling is terrible. 3. They charge horrendous fees if you want to wire money from your bank. 1 Quote Link to comment Share on other sites More sharing options...
Uncle Buck Posted October 27, 2017 Share Posted October 27, 2017 3 hours ago, Heimdallr said: I use Coinbase in Minnesota.... Don't use Kraken. 1. It takes forever to get authorized and they require a lot of strict documentation. 2. Their interface for buying/selling is terrible. 3. They charge horrendous fees if you want to wire money from your bank. What the heck? I tried signing up with Coinbase and they gave me a message saying they will let me know when they are approved to do business in my state. That's strange. I'll have to try it again. Thanks for the info, Heimdallr. Quote Link to comment Share on other sites More sharing options...
1ForTheThumb Posted November 20, 2017 Share Posted November 20, 2017 BTC up to $8K. I think it very well could jump to 10K before 2018. Quote Link to comment Share on other sites More sharing options...
1ForTheThumb Posted November 20, 2017 Share Posted November 20, 2017 On 10/24/2017 at 9:48 AM, BayRaider said: The Bitcoin Hardfork just happened.. and just like I thought, Bitcoin is taking a dive and all Altcoins are up 10% today. This will continie. Bitcoin went from 6000 to 5600 and will keep falling to at least 5300. Possibly even lower. And all the Altcoins are gonna keep increasing like crazy over the next couple weeks. Bitcoin has had 3 significant price drops and it always rebounds. Why do people keep expecting it to plummet? Quote Link to comment Share on other sites More sharing options...
BayRaider Posted November 20, 2017 Author Share Posted November 20, 2017 2 hours ago, 1ForTheThumb said: Bitcoin has had 3 significant price drops and it always rebounds. Why do people keep expecting it to plummet? Uh it did go to 5300 like I predicted and went right back up like I predicted. Did I say it was going under 5300? No. That was the buy price. Bitcoin will go past 10k soon. The thing is unstoppable. Quote Link to comment Share on other sites More sharing options...
1ForTheThumb Posted November 20, 2017 Share Posted November 20, 2017 20 minutes ago, BayRaider said: Uh it did go to 5300 like I predicted and went right back up like I predicted. Did I say it was going under 5300? No. That was the buy price. Bitcoin will go past 10k soon. The thing is unstoppable. Wasn't trying to call you out, sorry if it came off that way. I haven't read through this whole thread, I was just making a general comment. People need to stop calling bitcoin a "bubble". Quote Link to comment Share on other sites More sharing options...
MacReady Posted November 20, 2017 Share Posted November 20, 2017 Yeah, I've made quite a damn good bit of money off this. I'm still making money off this and at this point I'm 100% playing with house money. Anybody who was on the fence about it, I was on the fence about it 5 years ago and 100 dollars five years ago would have literally been 80,000 dollars right now. Quote Link to comment Share on other sites More sharing options...
wackywabbit Posted November 22, 2017 Share Posted November 22, 2017 It's a bubble for sure. Obviously I don't know when it's going to peak/crash, but the valuation is just nonsensical right now. A 100B+ market cap for something that could (and probably will at some point) suddenly be choked off by regulation is definitely an overvaluation. It's an opinion of course, but I'm good accepting the fact that I missed the shot to get rich off this mega-spike and will stay away completely for at least a couple years and see where it's at in 2020. Quote Link to comment Share on other sites More sharing options...
MacReady Posted November 22, 2017 Share Posted November 22, 2017 5 hours ago, wackywabbit said: It's an opinion of course, but I'm good accepting the fact that I missed the shot to get rich off this mega-spike and will stay away completely for at least a couple years and see where it's at in 2020. I think this is just a bad idea. If you keep putting 100 bucks into it and selling when you return your profit, the most you can risk (literally) is 100 bucks. I started with about 1,000 dollars so I was much riskier, but if you go with 100 bucks, or pick three of them and put 50 into each, you're risking 150 dollars. Quote Link to comment Share on other sites More sharing options...
jrry32 Posted November 24, 2017 Share Posted November 24, 2017 (edited) On 11/22/2017 at 5:41 AM, HorizontoZenith said: I think this is just a bad idea. If you keep putting 100 bucks into it and selling when you return your profit, the most you can risk (literally) is 100 bucks. I started with about 1,000 dollars so I was much riskier, but if you go with 100 bucks, or pick three of them and put 50 into each, you're risking 150 dollars. This is also what gambling addicts tell themselves. The problem is that most people don't have the restraint to just walk away. But you're making some solid points. I'm going to do some research on it. Right now, I'm making enough to put money away, but I'm just parking it for now. I could put it in an index fund, but I've already got a diverse stock portfolio. Maybe I'll expand into cryptocurrencies. Like you said, worst case scenario is that I lose my money and move on.(but I have the good fortune of knowing that I have the restraint) The only PITA will be having to keep track everything for tax purposes. Edited November 24, 2017 by jrry32 1 Quote Link to comment Share on other sites More sharing options...
MacReady Posted November 24, 2017 Share Posted November 24, 2017 2 hours ago, jrry32 said: This is also what gambling addicts tell themselves. Good point. Except 90% of gamblers don't follow that rule. If you're a gambler, and if you don't have patience, bitcoin definitely isn't for you. 1 Quote Link to comment Share on other sites More sharing options...
mistakey Posted November 24, 2017 Share Posted November 24, 2017 13 hours ago, jrry32 said: This is also what gambling addicts tell themselves. The problem is that most people don't have the restraint to just walk away. But you're making some solid points. I'm going to do some research on it. Right now, I'm making enough to put money away, but I'm just parking it for now. I could put it in an index fund, but I've already got a diverse stock portfolio. Maybe I'll expand into cryptocurrencies. Like you said, worst case scenario is that I lose my money and move on.(but I have the good fortune of knowing that I have the restraint) The only PITA will be having to keep track everything for tax purposes. its not that bad. if you use coinbase they tell you everything youd need to know at the point of sale. just keep it in a xlsx. Quote Link to comment Share on other sites More sharing options...
Knowledge Posted November 26, 2017 Share Posted November 26, 2017 Bitcoin just hit an all time high of $9100 Etheruem with a all time high of $485 Litecoin is approaching its all time high of $100 again Quote Link to comment Share on other sites More sharing options...
BayRaider Posted November 26, 2017 Author Share Posted November 26, 2017 Crypto is unstoppable atm. Crazy thing is that were still in the early adopter stage. 1 Quote Link to comment Share on other sites More sharing options...
wackywabbit Posted November 27, 2017 Share Posted November 27, 2017 On 11/24/2017 at 3:41 AM, jrry32 said: This is also what gambling addicts tell themselves. The problem is that most people don't have the restraint to just walk away. But you're making some solid points. I'm going to do some research on it. Right now, I'm making enough to put money away, but I'm just parking it for now. I could put it in an index fund, but I've already got a diverse stock portfolio. Maybe I'll expand into cryptocurrencies. Like you said, worst case scenario is that I lose my money and move on.(but I have the good fortune of knowing that I have the restraint) The only PITA will be having to keep track everything for tax purposes. Well, you only need to worry about taxes when you sell. Regardless of the investment, you probably want to buy and hold. I don't know how you could have too much in a broad index fund. Some exposure with bitcoin may be fine if you acknowledge is high risk and it's not a large percent of the portfolio. Quote Link to comment Share on other sites More sharing options...
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