bit coins for dummies like me.

dannyboy602

dannyboy602

Well-Known Member
kaka420 said:
In my lifetime, yes.
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See the problem im having with all cryto currencies is that the whole premise relies on internet and moreover, electricity which in a collapse of a society which I feel in our case is inevitable the system won't function.
I think silver is the best bet. Small, easily handled and will work for things like milk, bread, stuff like that.
I cant see cryptos lasting into the next paradigm.
 
kaka420

kaka420

Well-Known Member
dannyboy602 said:
See the problem im having with all cryto currencies is that the whole premise relies on internet and moreover, electricity which in a collapse of a society which I feel in our case is inevitable the system won't function.
I think silver is the best bet. Small, easily handled and will work for things like milk, bread, stuff like that.
I cant see cryptos lasting into the next paradigm.
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I personally don't believe the hype of civilization collapsing. Could it, sure but I don't see it happening. Holding bitcoin is no different than having cash in a bank, or stocks in a brokerage account. If the power goes out you are screwed there too.

I wouldn't not invest in bitcoin because you fear the end of the world. Silver has damn well been the same price for how many years now? It did make it close to $50 a few years back but the bankers shorted it right back to the teens.

Bitcoin on the other hand was $4 a few years ago, today its damn well $2800. I believe (know) we'll see the same type increase over the next 6 years.

Buy silver, buy gold, buy cryptos, buy land, buy assets but I wouldn't overlook cryptos.
 
Jimmy Verde

Jimmy Verde

Well-Known Member
alwayslearning777 said:
I went with litecoin first.. it was just cheaper, yea you can buy .002 btw but I like having 1ltc instead ... MIT is announcing plans to use litecoinfor one of their projects, bitcoin may crash a little bit on August 1st from what I hear ... my plan is sell off my lites, or some around that time and then scoop up a bitcoin if the price does really drop ... ethereum I have a few as well .. I watched something and basically if you can calculate when a lot ofICOs go public, there is basically a large sell off in etherium and that's the time to buy .. idk I guess that getting a little far into it buy it what I'm doing is 70 percent litecoin 15 etherium 15 bit .. once Ltd hits 70 I'm gna put 10 into bitcoin
Litecoin was my first love . I learned how to go from exchange to paper wallet to online wallet back to exchange .. and once I got the hang of that I started to mess with bitcoin ... etherium I put on a paperwallet and cannot figure out how to get it back on :( so don't do that lol

If you have questions I may be able to help .. it was nerve racking for me, the process of moving them offline and back on ... the reason I do that is I do not trust leaving all of mine in an exchange in case that exchange gets shut down
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Definitly would like to hear more from you
 
kaka420

kaka420

Well-Known Member
Lucky Luke said:
if 1 bitcoin is worth like 3k. How do you buy small priced things with it?
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You don't have to spend an entire bitcoin. You can spend 0.004 if you wanted. You could also purchase $10 worth of bitcoin on the exchanges if you wanted. Don't let these high prices of a full coin keep you from putting a little money into them.
 
dannyboy602

dannyboy602

Well-Known Member
Still...my whole thing against bitcoin is its not a physical money unit...silver is...economy collapses and silver becomes money again. Gold is too expensive for most ppl. Silver rules in my book. No electricity no problem. No internet no problem.
 
kaka420

kaka420

Well-Known Member
dannyboy602 said:
Still...my whole thing against bitcoin is its not a physical money unit...silver is...economy collapses and silver becomes money again. Gold is too expensive for most ppl. Silver rules in my book. No electricity no problem. No internet no problem.
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Ten years ago silver was $15-20/oz, today it still is! Sure silver and gold should be part of everyones holdings. 6 years ago bitcoin was $4-15/bitcoin, I know because it was one of my playgrounds. Today it is trading in the $4300 range.

If the power/internet ever go down you will have real problems with silver or not. Most would be dead within a year and food, water, and medicine would be much smarter to stack if that is your concern.

Investing is about diversification. Put yourself in a few different baskets. Silver is great but it is controlled by the federal reserve. Supply and demand mean nothing to them, they can dump a boat load of paper silver and dump the price as much as they want.
 
dannyboy602

dannyboy602

Well-Known Member
kaka420 said:
Ten years ago silver was $15-20/oz, today it still is! Sure silver and gold should be part of everyones holdings. 6 years ago bitcoin was $4-15/bitcoin, I know because it was one of my playgrounds. Today it is trading in the $4300 range.

If the power/internet ever go down you will have real problems with silver or not. Most would be dead within a year and food, water, and medicine would be much smarter to stack if that is your concern.

Investing is about diversification. Put yourself in a few different baskets. Silver is great but it is controlled by the federal reserve. Supply and demand mean nothing to them, they can dump a boat load of paper silver and dump the price as much as they want.
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Its hard to look at your avi and convince myself you know what you're talking about. Haha. You sound believable though...Thx for the advice.
 
kaka420

kaka420

Well-Known Member
dannyboy602 said:
Its hard to look at your avi and convince myself you know what you're talking about. Haha. You sound believable though...Thx for the advice.
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It was $4300 when I posted, currently $7150 today. Yesterday it hit $7900 but the news of the latest fork being suspended dropped the price a little. Im saying $10,000 by Christmas. $15-27,000 by this time next year.
 
Jimmy Verde

Jimmy Verde

Well-Known Member
kaka420 said:
It was $4300 when I posted, currently $7150 today. Yesterday it hit $7900 but the news of the latest fork being suspended dropped the price a little. Im saying $10,000 by Christmas. $15-27,000 by this time next year.
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Let's all pool together and get rich lmao
 
kaka420

kaka420

Well-Known Member
Thats the beauty of bitcoin. You don't need people with less experience, you don't need banks and you don't need a govt.
 
Observe & Report

Observe & Report

Well-Known Member
Right now the price of BitCoin is driven by speculators. Some loud noise is going to spook some of them and then you'll have a stampede for the door. When that happens, BitCoin's limit of seven transactions per second and the lack of volatility controls is going to make things very very ugly. The price will plummet as people lower their asks to jump the line of people trying to get out. Then the price will return to whatever the real value is based on it's utility and speculation will start again.

BitCoin's killer app is outside the USA/EU where banking is not as reliable or available. It's still very early days for that though.
 
kaka420

kaka420

Well-Known Member
kaka420 said:
It was $4300 when I posted, currently $7150 today. Yesterday it hit $7900 but the news of the latest fork being suspended dropped the price a little. Im saying $10,000 by Christmas. $15-27,000 by this time next year.
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$11,000 currently.
$20k by summer 2018
potentially $40k by xmas 2018.
 
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