Bitcoin bonanza

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  • Magdump

    Don’t troll me bro!
    Rating - 100%
    163   0   0
    Dec 31, 2013
    9,396
    113
    Hammond, Louisiana
    Not sure if anyone else here has taken advantage of the Bitcoin boom, but I’ve seen it more than double in just a few short weeks. PayPal makes it super easy, but there are other ways to buy crypto. Etherium, XRP, Bitcoin lite and others are also jumping. I’m extremely pleased.
     

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    Jlong1691

    Well-Known Member
    Premium Member
    Rating - 0%
    0   0   0
    Jun 10, 2020
    69
    6
    Denham Springs
    How easy is it to convert bitcoin to dollars if someone wants to bale out?

    This is what I would like to know as well. How liquid is bitcoin? If there is no organization backing it, who fills up the bitcoin ATM? Do I have to trade it for items, and try to convert items to cash, and what is my rate of loss in doing that?
     

    Magdump

    Don’t troll me bro!
    Rating - 100%
    163   0   0
    Dec 31, 2013
    9,396
    113
    Hammond, Louisiana
    Look at coinbase right now. Theyre all starting to dip down.

    LMAO! Really? Dip down from what? If you bought Bitcoin at 9-12k then you’ve more than tripled your money inside a year.


    Gotta pay taxes on capitol gains basically now and PayPal started charging a small fee for selling, but it’s like free money. I’m glad I waited til the new year to sell.

    I sold 3/4 of mine at just under the 40k mark and I see it in the 36k area now. Still way up there. I’ve repeated that scenario 3 times and this is the best I’ve done. It’s just a currency guys. Immediately exchange for USD whenever you wish. Anyone interested in just playing around with a few bucks should check it out on the PayPal app. Super easy.
     
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    Bosco

    We are the hammer
    Rating - 100%
    56   0   0
    Sep 4, 2009
    2,246
    38
    Covington
    Bitcoin has been pretty heavily manipulated over the years by people with big money. There's so little regulation over virtual currency people can "pump and dump" without going to federal pound me in the ass prison.

    It's so volatile that you might as well go to Vegas with your money as you'll have the same odds getting rich there as dumping money into Bitcoin.
     

    Magdump

    Don’t troll me bro!
    Rating - 100%
    163   0   0
    Dec 31, 2013
    9,396
    113
    Hammond, Louisiana
    Bitcoin has been pretty heavily manipulated over the years by people with big money. There's so little regulation over virtual currency people can "pump and dump" without going to federal pound me in the ass prison.

    It's so volatile that you might as well go to Vegas with your money as you'll have the same odds getting rich there as dumping money into Bitcoin.
    Never said it’s a way to get rich. Those days are long gone. The guys who bought $100 worth of Bitcoin when it was worth less than a penny. But you can make some serious money. I almost sold when it hit 18k but decided to wait til after the new year and the POTUS fiasco was wrapped up. I couldn’t hold out any longer yesterday and sold a lot. The USD will hit my account in a couple days. I’ve never been to Vegas tho, so I can’t speak for your comparison.
     

    foz1359

    Time Traveler
    Rating - 100%
    15   0   0
    Feb 18, 2013
    221
    28
    Jefferson Parish
    There's no relationship whatever between blockchain currency and Vegas -any reference is simple chin music and should be ignored like gangsta rap.

    Blockchain although in its infancy, is here to stay and there are a few "coins" that make up the backbone of cryptocurrency. Own a few LTC and earned a few with two mining rigs we built from scratch. LTC took a nose dive last year and then eased back into play again. One of the many reasons it's so volatile is it's being adopted quickly by the tech savvy (one day we'll put a man on the moon) and scoffed at by the tech ignorant (flight is reserved for winged creatures). And yes, like traditional day traders and algo wielding inside trading houses, the basement dweller tech savvy nerd birds know how to pump and dump crypto. I'm no gambler but I wish I had more time to trade crypto, I damned sure would.
    I advise anyone that's the least bit (no pun) interested in cryptocurrency to take the money you'd otherwise waste on drive through coffee and put it into a couple blockchain ETF's. I like BLOK and unlike the volatile cryptocurrency itself, these ETF's invest in companies that support the transition of business from paper to blockchain ledger. BLOK has been performing beautifully. Blockchain is not going anywhere. Election records, healthcare records, mortgage records, driving records, criminal records ...all going to the blok, Doc. That is all.
     
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    foz1359

    Time Traveler
    Rating - 100%
    15   0   0
    Feb 18, 2013
    221
    28
    Jefferson Parish
    Never said it’s a way to get rich. Those days are long gone. The guys who bought $100 worth of Bitcoin when it was worth less than a penny. But you can make some serious money. I almost sold when it hit 18k but decided to wait til after the new year and the POTUS fiasco was wrapped up. I couldn’t hold out any longer yesterday and sold a lot. The USD will hit my account in a couple days. I’ve never been to Vegas tho, so I can’t speak for your comparison.

    How do people have such strong opinion about things with which they have no experience? Congrats on your holding -good call. I should've been more agressive when we built the mining rigs (hobby to learn more) and bought more LTC -it was $25 then.
     

    Bosco

    We are the hammer
    Rating - 100%
    56   0   0
    Sep 4, 2009
    2,246
    38
    Covington
    Go ahead and put your life savings into it now that the bubble has hit its height and encourage others to do the same. I'm sure it won't pop this time like it did in 2018. It's nothing like gambling in Vegas. Just hodl and go to the moon!

    OWjoaA9.gif
     

    SpeedRacer

    Well-Known Member
    Rating - 100%
    92   0   0
    Feb 23, 2007
    14,347
    38
    Mandeville, LA
    So Bitcoin or Bitcoin cash?


    Sent from my iPhone using Tapatalk Pro

    Bitcoin or ETH. Don't mess with any of the other crap IMO. Bitcoin seems to be slowly downtrending at the moment, bouncing between $34K and $36K. This is not a bad thing, long term investors wanted to see some pullback after hitting all time highs. But I'd keep an eye on it for a few days before jumping in. I personally think we'll see $32Kish before it starts any big moves back up. If you plan on buying some and just sitting on it for years, then I wouldn't worry about the price or fluctuation as much just pick a target price and jump in when it hits it. Or, just throw a set amount in every week/month regardless of price and let it cost average out.

    It's gambling, yes. But not much more so than stocks at this point. I'd compare it more to blackjack than a slot machine.
     

    Bosco

    We are the hammer
    Rating - 100%
    56   0   0
    Sep 4, 2009
    2,246
    38
    Covington
    Please at least go do some research before putting money into cryptocurrency. Don't just listen to people on a gun forum of all places. Many people believe this bubble is going to pop within the next few months but people said the TSLA bubble would pop too and it hasn't yet soooooo who knows.

    https://news.bitcoin.com/
    https://www.coindesk.com/
    https://www.marketwatch.com/investing/cryptocurrency
    https://money.usnews.com/investing/cryptocurrency/

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