Current Events > Bitcoin is back. It just rose over $11,000 hitting a 15 month high.

(+) Yeah! (+)

https://www.cnbc.com/2019/06/24/bitcoin-rallies-above-11000-through-the-weekend-nearing-a-15-month-high.html

It was at 4,000 just a couple months ago and people said it was dead. Looks like those who stuck it out must be rich.
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I got out when it dropped below 17.5k... I'm probably not gonna jump back in, though. I don't have the patience to put a lot of money into cryptocurrency.
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How's litecoin and etherium. I have more of that than BTC
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emblem boy posted...

How's litecoin and etherium. I have more of that than BTC

Etherium is at $310.57. Litcoin is at $134.90. As of the time of this post. Bitcoin is the coin that is having the biggest surge right now. It was at 9,200 just a week ago.
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Future_Trunks posted...

Its a fucking scam and manipulation

If you got in at 4000 then youre looking good

Apparently it was around 4,000 or below it from late Decemeber 2018 up until April 1st 2019. April fools is around the time this massive climb started. So there was a huge window it was that low.
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My TRX is almost to four cents a coin, heck yeah!
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so glad i held on to my bitcoin when everyone was losing their mind after last year's crash

IM RICH BABYYY!!!

https://www.youtube.com/watch?v=2_JTzEppKy8" data-time="
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Future_Trunks posted...

Its a fucking scam and manipulation

If you got in at 4000 then youre looking good

Although I got in when it was under 4,000, there have only been like 60 days in Bitcoin's existence when the price was higher than it is now. So if you bought in at any time but those ~60 days, you're in the green.
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TheBlueMonk_ posted...

so glad i held on to my bitcoin when everyone was losing their mind after last year's crash

IM RICH BABYYY!!!

https://www.youtube.com/watch?v=2_JTzEppKy8" data-time="

What did you start with and how much do you have now?
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No reason to buy Bitcoin now if you haven't ever done so already. Even at "only" $4k, the ship had long sailed.
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EvalAngell posted...

No reason to buy Bitcoin now if you haven't ever done so already. Even at "only" $4k, the ship had long sailed.

You could have almost tripled your investment already. I don't think it's ever too late, but I'd advise investing cautiously. Don't ever go "all in".
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You'd be a fool to buy in now and a fool to buy it back then
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Bitcoin isn't "back" until it recoups all losses it incurred at the end of 2017.
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I guess tis the season to shovel more cash into the Chinese druglord's bank accounts.
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EndOfDiscOne posted...

EvalAngell posted...

No reason to buy Bitcoin now if you haven't ever done so already. Even at "only" $4k, the ship had long sailed.

You could have almost tripled your investment already. I don't think it's ever too late, but I'd advise investing cautiously. Don't ever go "all in".

This. If you had spent 1,000 when it was at 4k you would have like $2,700. If you had spent 10,000 back then you would have around 27,000. 100K spent would mean you have around 270k. It takes a lot to to see massive gains. But still even with smaller amounts you would have gained a lot. If this keeps going up some people gonna get rich again.
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bump
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Here comes the dump.
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DundiesAward posted...

Looks like those who stuck it out must be rich.

Depends on where they bought in.
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*people who bought in early and control the market*

"Well, time to manipulate the price again and artificially stimulate the price for massive gains."

*everyone else*

"Buyyyyyyyyyyyyyyyyyyyyy!!!!"
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As long as you're still massively at risk for getting charged with tax evasion and having the us government seizing it when converting it into a usable currency, who cares? It can say it's worth billions of dollars but if you can't actually spend it you might as well collect monopoly money.

Of course if you're in a country where you actually can convert it go ham, but that's not a whole lot.
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Bought back in a while ago. I had a feeling more suckers were going to jump into the hype train.

ETH to $1000.
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Just saw this on reddit...I always enjoy seeing these old threads

https://www.reddit.com/r/Bitcoin/comments/1oy1q5/last_time_i_bought_bitcoins_they_were_12/
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So...

Do people actually cash out? This is the most pyramidy pyramid scheme if I've seen it. People buy, make some early investors rich and just sit on the coin.

I also hear it's not exactly easy to cash out.
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Bitcoin is a huge energy drain
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Ki_cat_ posted...

So...

Do people actually cash out? This is the most pyramidy pyramid scheme if I've seen it. People buy, make some early investors rich and just sit on the coin.

I also hear it's not exactly easy to cash out.

You buy and sell (or spend) based on the current market price. I haven't sold any though I don't see how it would be much harder to sell than buy. I do know that some exchanges i.e. Coinbase have withdraw limits so you would have to wait to withdraw your cash.

I never got the argument that it's a pyramid scheme. It's just people trading for what they think it's worth, and there is an initial cost to mining the coins which gets used in electricity.
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Ki_cat_ posted...

I also hear it's not exactly easy to cash out.

for bitcoin yeah. the networks clog and its slow as fuck.

never had much of problem cashing other coins
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Cryptocurrencies will never be actual money thanks to speculation like this. It's just "what is this worth in real money?" and lacking any intrinsic value.
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spudger posted...

Ki_cat_ posted...

I also hear it's not exactly easy to cash out.

for bitcoin yeah. the networks clog and its slow as fuck.

never had much of problem cashing other coins

So when you place a sell order on an exchange, does it take a while for the order to hit the books? Or to execute?
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USB-C posted...

literally sold all my bitcoin on march 20th

i hate my life

I stuffed all my cryptos on a ledger and tucked it away in a drawer.

I figure either it pays out in 10+ years or it doesn't.
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EndOfDiscOne posted...

spudger posted...

Ki_cat_ posted...

I also hear it's not exactly easy to cash out.

for bitcoin yeah. the networks clog and its slow as fuck.

never had much of problem cashing other coins

So when you place a sell order on an exchange, does it take a while for the order to hit the books? Or to execute?

depends on the exchange i believe but the order will be on the books it just takes forever to get filled due to the network
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Sigh, here I was considering getting a new graphics card

Ki_cat_ posted...

So...

Do people actually cash out? This is the most pyramidy pyramid scheme if I've seen it. People buy, make some early investors rich and just sit on the coin.

I also hear it's not exactly easy to cash out.

Ponzi scheme, get it right. Crypto nutters lose their shit when people call it a pyramid scheme.
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Ki_cat_ posted...

So...

Do people actually cash out? This is the most pyramidy pyramid scheme if I've seen it. People buy, make some early investors rich and just sit on the coin.

I also hear it's not exactly easy to cash out.

Yeah. That was why it crashed last year iirc. People were cashing out when it hit the 15k-20k range.
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The price is like a feedback loop. It goes up, eventually people notice and they want in. It keeps going up and up until eventually the bubble bursts. The weak hands sell to cut their losses, and the price drops even more.
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Its about to hit 12k if anyone wants to watch
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EndOfDiscOne posted...

Its about to hit 12k if anyone wants to watch

It is at $12,570 now. Haven't seen it like this since last year.
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Rexdragon125 posted...

Sigh, here I was considering getting a new graphics card

The prices haven't gone to crazy yet

HypnoCoosh posted...

USB-C posted...

literally sold all my bitcoin on march 20th

i hate my life

I stuffed all my cryptos on a ledger and tucked it away in a drawer.

I figure either it pays out in 10+ years or it doesn't.

Same. My $100 years ago is gonna be worth something or it'll be $100 I don't mind missing.
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Can someone explain BitCoin to me? I really do not understand anything about it. What are we "mining"? How do you "mine" it?
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fuck I knew I shouldn't have sold my 120 bitcoins at $200 each
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Hmmmm think its worth throwing in like $200? I wouldnt miss it if it was gone >.>

It's probably gonna collapse back down to $4-5k after we see this recent new bubble pop. I don't think these kinds of sharp increases are sustainable. I've been following bitcoin on and off since 2012 or so and this has happened many times where there's a sudden sharp increase in a short period of time followed by a sharp crash back down to about the level it was at prior to the sudden sharp increase.
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dezmomo posted...

Can someone explain BitCoin to me? I really do not understand anything about it. What are we "mining"? How do you "mine" it?

Essentially Bitcoin and other cryptocoins are digital forms of currency that are traded in a decentralized manner, without banks being related in any way. It's basically like stocks, but with a higher chance of risk/reward, due to the values changing more erratically.
It is mined through groups of graphically powerful computers working together 'digging' around in virtual space.

Banks demonize it, because they're not making money out of it, claiming this is a menace to the economy, while it really just comes down to personal responsibility, just like with the regular stock market: all the money you invest, either you take the risk of losing it, or its value can rise (to the moon!) and you can cash out big.
The horror stories basically come down to people who invested all of their lifesavings in BTC and lost it all when the value took a massive dip in December 2017. Personally, I think the general crowd investing in cryptocurrencies as a get-rich-quick scheme does less harm to the economy than the general crowd investing in housing.

Right now, BTC's sharp rise reminds me of this scene:

https://youtu.be/FaF5MAY1Wow#t=1m12s
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I'm hodling on for deer life right now

Guys are looking at Bitcoin when they should be buying into Ethereum, Bitcoin dominance is at its highest in the past couple of years, usually that is a predictor for a BTC surge which is immediately followed by alts pumping. If Bitcoin hits 40K for example and the ratio of ETH/BTC hits an ath of about 15% that means $350 ETH today will be worth approximately $6,000. Ethereum is a significant component to cryptos and it has the most potential.

Turtlebread posted...

fuck I knew I shouldn't have sold my 120 bitcoins at $200 each

Damn bro 120 bitcoins would be worth about $1,654,270 right now.
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13k woohoo
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EndOfDiscOne posted...

13k woohoo

Yep. The other big coins are doing well to. ETH is up to $348 now.
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