What do people think about Bitcoin?

Discussion in 'BBS Hangout' started by Spooner, Jan 25, 2014.

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What is the fate of Bitcoin?

  1. Currency of the future

    32.9%
  2. Passing Fad

    67.1%
  1. moestavern19

    moestavern19 Contributing Member

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    I just sold at 17k. I'm gonna get out and see what happens Monday.
     
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  2. astros123

    astros123 Member

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    Why would you not just wait Monday?
     
  3. oelman44

    oelman44 Member

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    Anyone buying? Down to about 15.5k
     
  4. Hakeemtheking

    Hakeemtheking Member

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    Congrats.

    That's an unbelievable selling price. My biggest per share equity sale was QCOM for close to $800 back in the day. $800 vs. $17,000 is like a 2 cent hooker vs. Jessica Alba.
     
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  5. kevC

    kevC Contributing Member

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    Who has the balls to actually short this though? That's some insane downside risk.
     
  6. Bob Barker 007

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    Why would that matter? You could have sold Berkshire Hathaway for $250,000. That doesn't mean you made money, considering the current share price is $295,000.
     
  7. LongTimeFan

    LongTimeFan Contributing Member

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    It's hard selling and seeing the price rise -- but just remember, locking in profits is NEVER a bad thing. The point of this for most people is to make money -- you have to cash out eventually to fiat to do that.

    Everyone seems to be of the opinion that the price will drop -- that could cause the price to drop just by virtue of everyone having seller trigger fingers. But if you truly feel the price is going to drop, I wouldn't wait until 24 hours before -- this belief is shared by millions and they will be looking to do the same thing at the same time.

    /Watches Bitcoin go to $25K Monday

    It literally does mean you made money... (assuming you bought in for less).
     
  8. Bob Barker 007

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    Yeah, I'm not sure why people think Wall Street is going to jump onto the short side when futures open. I'm sure some will, but it's no guarantee.

    Exposure for buying/going long bitcoin futures (not including leverage):
    Price goes up: unlimited upside
    Price goes down: Downside stops at -100%

    Exposure for going short/selling bitcoin futures (not including leverage):
    Price goes up: unlimited downside
    Price goes down: Max gain of 100%
     
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  9. Bob Barker 007

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    He's saying that selling QCOM for $800 is worse than selling BTC for $17,000. That's indeterminate, because we don't know the change in value from the price that both were bought. I have no problem with the concept of taking profits.
     
  10. LongTimeFan

    LongTimeFan Contributing Member

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    IE, percentage gains vs. the raw sale number. Agreed.
     
  11. prohibido

    prohibido Member

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    I sent some coin from one wallet to another yesterday. It's a transfer I'd made before without issue. (Xapo to Bitfinex.) I pay the standard transfer fee that Xapo recommends and the transfer is generally completed in a couple of hours. In this case it's a day later and the transfer is still in pending status, it doesn't seem like there have been any confirmations or really any movement of any kind. I'm not sure why this is happening. Could this be an issue on Xapo's side? Xapo doesn't offer any way to augment the initial transfer fee like some wallets do. Why might this be happening? What can I do beyond simply wait? Any feedback is appreciated.
     
  12. Stack24

    Stack24 Contributing Member

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    yes you are able to do stop orders on GDAX
     
  13. LongTimeFan

    LongTimeFan Contributing Member

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    Verify the address you sent the coins to. Look up the transaction ID on https://blockchain.info/ to see if you can find more info about what's going on.

    Did you send Bitcoin?
     
  14. sammy

    sammy Contributing Member

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    Ultimately, I am in this for a crazy ROI down the road.

    If the belief is that it will get to 20K, 25K, 30K, 50K and up, you would lose money by shorting it if you don't think you can get under your initial buying price.


    I bought at 10.8. I'll just buy more when and if it dips.
     
  15. Hakeemtheking

    Hakeemtheking Member

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    I am only talking about absolute numbers. Back in the dotcom mania, there were not too many stocks trading near $1,000 bucks.

    It goes without saying that a sale is generally only good if you bought the underlying issue at a lower price.
     
    #2075 Hakeemtheking, Dec 7, 2017 at 2:03 PM
    Last edited: Dec 7, 2017 at 2:13 PM
  16. RocketsLegend

    RocketsLegend Member

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    In 2015 when the price was around 300 I gambled and lost about 6btc on sports and blackjack. I would have never imagined the price skyrocketing to 20,000 by the end of 2017. This is insane.
     
  17. prohibido

    prohibido Member

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    Yes, I sent Bitcoin. The receiving address is fine. I can see the transaction details on blockchain.info but I don't really know how to interpret them in any meaningful way. There is no obvious error. It just says that the transaction is unconfirmed. I can look at the receiving wallet and the previous transactions are there, confirmed. So I know there's not some odd error with that address.

    I think that confirmations rely upon the outbound exchange to make some sort of acknowledgement of the transfer and as I mentioned I wonder if there's something on Xapo's side that's holding this up.
     
  18. LongTimeFan

    LongTimeFan Contributing Member

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    I don't know what Xapo is, I assume an exchange. Bitcoin transfers have been taking a good while lately -- though more than 24 hours is way more than I've ever experienced.

    Does the wallet you're sending it to at least show an incoming deposit? What's the transfer ID? I'll see if I can make sense of it.
     
  19. astros123

    astros123 Member

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    People here are asking why they are shorting bitcoin in the short term ? It's basic economics. Instutional investors are not going to buy in at an all time high. Why would they? It makes more sense for them to drive the stock down , establish a base line then let the stock ride up when they get in for cheap.

    Like I said I'll bet anyone a tipjar bet that the stock will be under 10k by Monday's end
     
  20. Yung-T

    Yung-T Member

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    10 bucks? :p
    I'm in.
     
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