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

    30.1%
  2. Passing Fad

    69.9%
  1. DudeWah

    DudeWah Contributing Member

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    Will either of these work with all the altcoins?
     
  2. DudeWah

    DudeWah Contributing Member

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    I'm in the same boat as you brother. It seems like you're getting killed by fees as you go.

    Fee for coinbase. Fee for Poloniex. Fee to store your coins in a wallet.

    Not to mention the apparent huge time delays that it takes to liquidate your money. I've been thinking of doing some stuff with cryptocurrencies for a while, but it seems like a huge headache.
     
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  3. Yung-T

    Yung-T Member

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    Unfortunately no and it's a huge headache. The best advice is to go to Reddit, there's a subreddit for nearly every coin with extremely helpful threads and FAQs.

    This and the exchange platforms are my #1 issue right now, want to buy certain coins but some only work on Poloniex which is extremely prone to errors. You hear quite a lot horror stories about Poloniex, with people losing their money and not getting it back etc.
     
  4. DudeWah

    DudeWah Contributing Member

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    Yeah Poloniex seems like it is garbage. I feel like if I put my money in there I'll never see it again.

    I'll read some of the subreddits, but no idea how to invest in something worthwhile if you can never liquidate your funds properly.
     
  5. Yung-T

    Yung-T Member

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    Heard Bittrex is pretty okay, but it does have a smaller selection of coins and higher prices.
    https://coinmarketcap.com/exchanges/bittrex/
     
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  6. Angkor Wat

    Angkor Wat Member

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    why yall keep moving the goalpost? first it was "bitcoin is just a passing fad." now its "oh i don't see it surviving a major terrorist scandal" lol
     
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  7. Yung-T

    Yung-T Member

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    And after that: "Good luck holding onto cryptocurrency after a nuclear war, y'all gonna thank me for not investing."
     
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  8. Dr of Dunk

    Dr of Dunk Clutch Crew

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    I still remember sitting at work discussing the arrival of the Bitcoin "fad" back sometime around 2010, I think, with a co-worker. Said it was a joke. People dealing in the "ether" money. "Wait... so they're generating money with their video cards? lolol" Can I travel back in time and buy a few dollars-worth? :(

    For the record, I also thought Google, Yahoo, and Youtube were stupid investments. And I thought Apple had run far enough (around $20, I think pre-split, after having bought it at $9) and Amazon had made me enough money after going from something like $110 - $121... "wouldn't want to be greedy!" :(

    Oh yeah, and then there's that one time where we got Barkley and I thought a 3rd championship was assured. :(

    I may buy some of these cryptocurrencies for the heck of it. Get ready if you're in them... the bottom's about to fall out because I'm coming into the pool. :(
     
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  9. Dr of Dunk

    Dr of Dunk Clutch Crew

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    BTW... anybody remember this guy from about 4 years ago? Did he kill himself? lol.

     
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  10. Yung-T

    Yung-T Member

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    It's like with me and sports betting. Team won 10x in a row and is now playing the worst team in the league? "What could go wrong, easy money for the tizzle".
    Team proceeds to put up its worst performance in ages and the money is flushed down the toilet.
     
  11. Commodore

    Commodore Contributing Member

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    if you're convinced Bitcoin will be a global reserve currency someday, this is still a cheap time to buy
     
  12. Angkor Wat

    Angkor Wat Member

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    i remember buying some bitcoin when it was at $200 or $300 and it dipped not even $5 and I panicked because I didn't want to lose money so I placed a few sports bets with my balance before price dropped too much. I ended up losing money anyway lol
     
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  13. moestavern19

    moestavern19 Contributing Member

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    I would ride the BtC wave for a little while longer and then convert it all to Ether.
     
  14. Yung-T

    Yung-T Member

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    Bitcoin back to 1772 currently, Ethereum 144. Lot of people predicted this price correction, almost every crypto has lost at least 15-30% yesterday and today.

    Will still go up in the future, but it's interesting to see how volatile and dependent on bitcoin all the alternatives are.
     
  15. DudeWah

    DudeWah Contributing Member

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    Ethereum at 120 yesterday back to 180 today. Lol.
     
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  16. Yung-T

    Yung-T Member

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    It's pretty wild, today is the exact opposite of yesterday for all the cryptos. This market makes absolutely no sense.
     
  17. TheMystery008

    TheMystery008 Member

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    That's why I'm just holding mine.

    This market is too hard to read.
     
  18. le081488

    le081488 Member

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  19. Roscoe Arbuckle

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    Did you say hold?

     
  20. dmoneybangbang

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    This is essentially what looks like the infancy of a commodity currency market now that serious money is starting to invest. Be interesting to see the landscape in 2 years.
     
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