1. Welcome! Please take a few seconds to create your free account to post threads, make some friends, remove a few ads while surfing and much more. ClutchFans has been bringing fans together to talk Houston Sports since 1996. Join us!

What do people think about Bitcoin?

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

?

What is the fate of Bitcoin?

  1. Currency of the future

    35.4%
  2. Passing Fad

    64.6%
  1. dmoneybangbang

    Joined:
    May 5, 2012
    Messages:
    13,835
    Likes Received:
    5,954
    Just very premature; a crypto- gold rush, wild west type of event. Some of it looks promising, but so does a lot of things to invest in. The combination of cheap money and lack of regulations made it easy to pump and dump.
     
    RedRedemption likes this.
  2. LongTimeFan

    LongTimeFan Contributing Member

    Joined:
    Oct 6, 2001
    Messages:
    7,754
    Likes Received:
    960
    Great question. Why is it a cash advance when it's withdrawn directly from your checking? I would be on the phone with them.
     
    Hakeemtheking likes this.
  3. zcarenow

    zcarenow Member

    Joined:
    Feb 24, 2013
    Messages:
    2,232
    Likes Received:
    572
    Anyone buy GBTC? It's not on the crypto exchanges
     
  4. jbasket

    jbasket Member

    Joined:
    Jan 26, 2012
    Messages:
    4,361
    Likes Received:
    1,185
    Never heard of it
     
  5. zcarenow

    zcarenow Member

    Joined:
    Feb 24, 2013
    Messages:
    2,232
    Likes Received:
    572
    It is on the Stock Exchange. My friend bought 500 shares a couple of years ago and he cashed out recently before they had a 91:1 split. Made $800k after selling all of it over a month ago.
     
  6. LongTimeFan

    LongTimeFan Contributing Member

    Joined:
    Oct 6, 2001
    Messages:
    7,754
    Likes Received:
    960
    What you're talking about is a stock in an investment trust, not a cryptocurrency.

    It might be on A stocks exchange, but not stocks.exchange....
     
  7. Xenon

    Xenon Contributing Member
    Supporting Member

    Joined:
    May 28, 2002
    Messages:
    2,216
    Likes Received:
    494
    I went back and forth with them over the message system on their website. They refunded me the money but said that it's due to the way coinbase processes the transaction. I'm sure they won't be refunding fees going forward.

    From now on I will only use wire transfers. The con of course is that it takes days for the transactions to complete.
     
  8. LongTimeFan

    LongTimeFan Contributing Member

    Joined:
    Oct 6, 2001
    Messages:
    7,754
    Likes Received:
    960
    In my experience, wires are pretty fast -- 1-2 days at most, assuming you didn't initiate it on a Friday or weekend. Drawback is the wire fee my bank charges. Only thing faster is credit cards (RIP).

    Glad you got your money back on that scam attempt.
     
  9. zcarenow

    zcarenow Member

    Joined:
    Feb 24, 2013
    Messages:
    2,232
    Likes Received:
    572
    Right. You can go to Scottrade or Etrade to buy it. I feel Coinbase/GDAX and Binance are a bit risky with hackers. Offline wallets seem to be a hassle. You should get some GBTC.

    Also, there are now Blockchain ETFs that you can buy like BLOK and BLCN.
     
  10. LongTimeFan

    LongTimeFan Contributing Member

    Joined:
    Oct 6, 2001
    Messages:
    7,754
    Likes Received:
    960
    I'm doing just fine with my crypto investments thus far, thank you sir! I don't see the need to diversify into those when I'm holding the real thing.

    You're right though, cryptocurrency is a lot riskier. But as they say -- scared money don't make no money.
     
    Yung-T likes this.
  11. Daddy Long Legs

    Daddy Long Legs H- Town Harden

    Joined:
    Sep 11, 2016
    Messages:
    10,928
    Likes Received:
    13,471
    do any of yall keep your stuff on the exchanges?
     
  12. Yung-T

    Yung-T Member

    Joined:
    Apr 16, 2009
    Messages:
    23,277
    Likes Received:
    5,462
    You should really join the discord, breh.
    Always active and answering these kinds of questions.

    In general, it is only advised to keep an amount of crypto on exchanges that you are comfortable losing, as an exchange can get hacked and you don't own the private key.
    Send the rest to dedicated wallets, MEW or a hardware wallet.
     
    Daddy Long Legs likes this.
  13. moestavern19

    moestavern19 Member

    Joined:
    Dec 8, 1999
    Messages:
    39,003
    Likes Received:
    3,622
    Weird **** going on with MEW right now. I'm sure they have been through hell trying to scale, but this split off is fishy.
     
  14. Daddy Long Legs

    Daddy Long Legs H- Town Harden

    Joined:
    Sep 11, 2016
    Messages:
    10,928
    Likes Received:
    13,471
    I'll join the discord. Yeah I got the ledger nano S and only keep small amounts for opportunistic trading on the exchanges.
     
  15. Yung-T

    Yung-T Member

    Joined:
    Apr 16, 2009
    Messages:
    23,277
    Likes Received:
    5,462
    https://discord.gg/xcHtS6
     
  16. Dr of Dunk

    Dr of Dunk Clutch Crew

    Joined:
    Aug 27, 1999
    Messages:
    35,947
    Likes Received:
    12,258
    GBTC - at one point these things were trading for more than the value of the bitcoin they were supposed to track, so people who were buying them were paying a fat premium over just buying bitcoin :
    https://www.slashgear.com/bitcoin-vs-gbtc-stock-price-today-whats-the-deal-29517373/
    https://investorplace.com/2018/01/theres-little-value-bitcoin-stocks-even-bitcoin-rises/

    BLOK and BLCN only invest in common companies you can buy with most tech ETF's. If you're trying to "get rich quick" or just trying to get on the crypto bandwagon, those two probably aren't the ways to do it. They tried to start those ETF's with "blockchain" in their names and the SEC stopped that quickly. lol.

    For anyone looking to buy into these things, do your research before just jumping on.
     
  17. theimpossibles1

    Joined:
    Nov 17, 2007
    Messages:
    4,265
    Likes Received:
    5,100
    GBTC was my golden ticket. Bought in Jan 2017. All sold now.
     
  18. zcarenow

    zcarenow Member

    Joined:
    Feb 24, 2013
    Messages:
    2,232
    Likes Received:
    572
    My friend bought GBTC around $25, so he did ok... ;)

    He buys lunch everytime we hang out, that is all i care about now...:D
     
  19. zcarenow

    zcarenow Member

    Joined:
    Feb 24, 2013
    Messages:
    2,232
    Likes Received:
    572
    Smart man!
     
  20. theimpossibles1

    Joined:
    Nov 17, 2007
    Messages:
    4,265
    Likes Received:
    5,100
    It got up to about 3400 at its peak. Nice move by ur buddy.
     

Share This Page

  • About ClutchFans

    Since 1996, ClutchFans has been loud and proud covering the Houston Rockets, helping set an industry standard for team fan sites. The forums have been a home for Houston sports fans as well as basketball fanatics around the globe.

  • Support ClutchFans!

    If you find that ClutchFans is a valuable resource for you, please consider becoming a Supporting Member. Supporting Members can upload photos and attachments directly to their posts, customize their user title and more. Gold Supporters see zero ads!


    Upgrade Now