Notices

Bitcoins & cryptocurrency

Old 08-31-2017, 07:40 PM
  #1  
Admirals Club Admiral's Club Member
Thread Starter
 
Join Date: Sep 2005
Location: VA Beach, VA
Posts: 2,103
Received 170 Likes on 96 Posts
Default Bitcoins & cryptocurrency

So my buddy White Heat Pete is trying to convince me to purchase some Bitcoins. I've tried to read about them, tried to understand them but can't make heads or tails about them.

Focusing on Litecoin (LTC) which has gained more than 1500% this year.

What is it? Is there money to be made? How does one buy/sell them? etc.

I'm skeptical.
Old 09-01-2017, 04:42 AM
  #2  
Senior MemberCaptains Club Member
 
Join Date: Dec 2003
Location: Northern Neck, VA
Posts: 6,464
Received 2,674 Likes on 1,328 Posts
Default

If you don't understand block chain I can't ever recommend investing in something you don't understand.

Fairly speculative right now.

If everyone is getting in, to me, that is a sell signal to me.


my son and I play with "fun" $ on coinbase


we have doubled a couple times already in ETH
Old 09-01-2017, 05:05 AM
  #3  
Admirals Club Admiral's Club Member
Thread Starter
 
Join Date: Sep 2005
Location: VA Beach, VA
Posts: 2,103
Received 170 Likes on 96 Posts
Default

Originally Posted by rocksandblues View Post
If you don't understand block chain I can't ever recommend investing in something you don't understand.

Fairly speculative right now.

If everyone is getting in, to me, that is a sell signal to me.


my son and I play with "fun" $ on coinbase


we have doubled a couple times already in ETH
what you just said makes no sense to me....i'll play scratch off's
Old 09-01-2017, 05:17 AM
  #4  
Senior MemberCaptains Club Member
 
Join Date: Oct 2005
Location: Key West
Posts: 13,240
Received 3,451 Likes on 1,556 Posts
Default

Originally Posted by Marlinmate1 View Post
So my buddy White Heat Pete is trying to convince me to purchase some Bitcoins. I've tried to read about them, tried to understand them but can't make heads or tails about them.

Focusing on Litecoin (LTC) which has gained more than 1500% this year.

What is it? Is there money to be made? How does one buy/sell them? etc.

I'm skeptical.
White Heat Pete is all I needed to hear for me to know that you should steer well clear of it.
Still waiting on the pics that he was supposed to send.
Old 10-10-2017, 05:53 AM
  #5  
Senior Member
 
Join Date: Aug 2014
Location: Hanahan, SC
Posts: 8,428
Received 1,582 Likes on 1,006 Posts
Default

I was looking for another crypto thread (there were a few larger), but this will do. Just came across this brief explanation of blockchain tech and crypto currency. Also, I know nothing of this stock, but it invests in cryptos or is associated with them, I believe. HIVE (TSX) https://www.hiveblockchain.com/

http://www.youtube.com/watch?v=3s8Iu...ature=youtu.be
Old 10-10-2017, 05:55 AM
  #6  
Senior Member
 
Join Date: Aug 2014
Location: Hanahan, SC
Posts: 8,428
Received 1,582 Likes on 1,006 Posts
Default

Here's another from a gold guy I read on occasion...I think he may be affiliated with HIVE, too, but not sure

Old 11-20-2017, 07:26 AM
  #7  
Member
 
Join Date: Sep 2017
Location: Wilmington
Posts: 39
Likes: 0
Received 13 Likes on 7 Posts
Default

I use bitfinex, cheap and arguably the best. Its an exploding market, take your pic and be almost guaranteed cash.
Old 11-20-2017, 10:59 AM
  #8  
Senior Member
 
Join Date: Aug 2016
Location: Milwaukee - Ish
Posts: 257
Likes: 0
Received 638 Likes on 334 Posts
Default

Originally Posted by taylork057 View Post
I use bitfinex, cheap and arguably the best. Its an exploding market, take your pic and be almost guaranteed cash.
https://cointelegraph.com/news/bitfinex-struggles-with-money-withdrawal-community-observers-predict-mtgox-scenario


Hmmmmmmm
Old 11-20-2017, 01:38 PM
  #9  
Senior Member
 
Join Date: Mar 2017
Posts: 1,511
Received 1,067 Likes on 625 Posts
Default

Just had a convo about this with my client. My client started playing this about a year ago and made serious coin. I know off the straight BTC play he's tripled his money.

From what he told me it's not about just BTC, the other crypto's are hot right now as well. I've been watching a lot of youtube links he's sent me. I'll probably pull the trigger and dump a small amount of cash in over the next couple weeks.

Based on what I've read, big money is to be made in the up and coming cryptos. The thing you need to watch is the whales. The whales will beat you down on both sides of the trade just because they can. It's just like penny stocks.
Old 11-21-2017, 11:43 AM
  #10  
Senior Member
 
Join Date: Jun 2011
Posts: 446
Likes: 0
Received 83 Likes on 38 Posts
Default

its the wild west in cryptoland right now - but if you can sort through the shitcoins and find worthwhile projects, there certainly is money to be made. as above was stated, dont let the whales shake you out, just HODL
Old 11-21-2017, 04:59 PM
  #11  
Senior Member
 
Join Date: Aug 2010
Location: San Diego CA
Posts: 588
Received 142 Likes on 71 Posts
Default

You can get rich and you can get smoked. We have done pretty well to be honest. I wouldnt buy straight out BTC right now.

coinbase.com to get started
Old 11-21-2017, 05:18 PM
  #12  
Admirals Club Admiral's Club Member
 
Join Date: Nov 2016
Posts: 252
Likes: 0
Received 100 Likes on 43 Posts
Default

Set up an account at coinbase, then do your trades through gdax. Same company but way lower fees. Once your coinbase account is set up, you can log into gdax with the same user name and password. I'm watching and learning right now, but I havnt bought in yet. I'm a little leery of bitcoin at the prices they're at now. I'll probably buy some ethereum and lite coin. With Cme opening futures trading in a couple of weeks, the alt coins should see some gains off of btc's coat tails, hopefully. Or it'll crash again lol. Who knows.
Old 11-21-2017, 05:29 PM
  #13  
Senior Member
 
Join Date: Feb 2009
Location: God Bless Texas / LOTO
Posts: 960
Received 466 Likes on 291 Posts
Default

I threw a few bucks of "play money" to coinbase.
Not a bad thing to have some in bitcoin, but do not take out a home equity loan to fund the play.

Do not put any money in it that would cause more than a whimper if the whole thing tanks.
Old 11-21-2017, 06:30 PM
  #14  
Senior Member
 
Join Date: Jun 2017
Posts: 365
Received 618 Likes on 283 Posts
Default

I have a guy really close to Etherum. It should be one to watch.
Old 11-21-2017, 08:45 PM
  #15  
Senior Member
 
Join Date: Aug 2011
Location: Western Australia
Posts: 124
Likes: 0
Received 3 Likes on 3 Posts
Default

Been day trading for a few months when I find gaps in the day. Bought into a startup software company that builds predictive crypto software.
Its going pretty well.
Old 11-21-2017, 10:12 PM
  #16  
Senior Member
 
Join Date: Feb 2009
Location: God Bless Texas / LOTO
Posts: 960
Received 466 Likes on 291 Posts
Default

As crazy as bitcoin is, a young man bought a couple of pizzas for 10,000 bitcoins in 2010.

That is a $5.2 Million dollar pizza now.

I have some money in bitcoin, but nothing that I could not just shrug off.
Old 11-21-2017, 10:37 PM
  #17  
THT Sponsor Admiral's Club Member
THT sponsor
 
Join Date: Apr 2015
Location: The Country
Posts: 1,674
Received 792 Likes on 484 Posts
Default

It’s like the VIX. People but it because they think “it” will go up. People sell it because they think “it” will go down. But, there’s no “it”.

Current block chain technologies are too slow to serve as a viable exchange for ordinary goods and services. By buying “it” you are hoping only to sell “it” in exchange for viable currency, hopefully more than you paid for “it”.

I am hoping to see blockchain used as a trading platform for commodities. For example I pay $XX.XX for a coin that represents a barrel of oil (crude coin?), which I can later convert to $ by re-selling the coin, or stand for delivery on the barrel of oil.
Old 11-22-2017, 06:08 AM
  #18  
Admirals Club Admiral's Club Member
THT sponsor
 
Join Date: Jul 2015
Location: Southern Louisiana
Posts: 896
Received 143 Likes on 97 Posts
Default

Originally Posted by Lone Ono View Post
I am hoping to see blockchain used as a trading platform for commodities. For example I pay $XX.XX for a coin that represents a barrel of oil (crude coin?), which I can later convert to $ by re-selling the coin, or stand for delivery on the barrel of oil.
Look into Augur. (Built off of ETH)
I've got some folks waaay smarter than me that are quite bullish on it.
Similar to what you are saying, but based on contracts, and will allow the entire world to hedge bets against markets, commodities, etc. Anything.

I don't have a lot of $$ wrapped up in cryptocurrency, but I have started to dabble a little.
Old 11-22-2017, 10:46 AM
  #19  
Senior Member
 
Join Date: Aug 2010
Location: San Diego CA
Posts: 588
Received 142 Likes on 71 Posts
Default

Originally Posted by DNinja View Post
As crazy as bitcoin is, a young man bought a couple of pizzas for 10,000 bitcoins in 2010.

That is a $5.2 Million dollar pizza now.

I have some money in bitcoin, but nothing that I could not just shrug off.
It happens. I have a friend who bought $4000 worth a few years back and it sitting on $500K right now. Talk about a return.

Im a dumbass but I have tripled my money to $75K
Old 11-22-2017, 12:47 PM
  #20  
Admirals Club Admiral's Club Member
 
Join Date: Apr 2004
Location:
Posts: 1,052
Received 144 Likes on 89 Posts
Default

what base are you using to buy with? I can not get coinbase to verifiy my license.

Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2021 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.