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Wow. Bitcoin is almost $1,500

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brianmanahan

Lifer
Sep 2, 2006
20,740
2,621
126
I just mathed my old bitcoin wallet to see how much btc I've ever made. At current rates, about 80k. I'm sad.

i'm sad that my buddy from college tried to get me to buy "just 1000$ worth" when it first started. so like 50 or 100 BTC at the time.

he was a crazy conspiracy doomsday prepper guy so i didn't listen. and now which one of us is living a retired life of luxury in his 30s?

not me


then again, i probably would've sold out after doubling my money lol
 
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brianmanahan

Lifer
Sep 2, 2006
20,740
2,621
126
the weird thing is that 10 years ago, this was pumped as a stable currency used to buy daily goods

and now it has completely shifted to a gold-like store of value that nobody really uses to buy anything
 
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ultimatebob

Lifer
Jul 1, 2001
23,417
1,385
126
the weird thing is that 10 years ago, this was pumped as a stable currency used to buy daily goods

and now it has completely shifted to a gold-like store of value that nobody really uses to buy anything
Yep... everybody was trying to make Bitcoin wallets for their new Smartphones, trying to demonstrate Bitcoin as the future of mobile payments. The only problem is that it took about 5 minutes to confirm a transaction, so it kinda sucks for that purpose.

Now we have Apple Pay and Android Pay, and the same transaction takes about 5 seconds.
 

ultimatebob

Lifer
Jul 1, 2001
23,417
1,385
126
The dollar is going DOWN!
'
Invest in the dogecoin. Do it quickly!!

View attachment 39880
I don't know... Daddy Elon seems to have given up on pumping it after he realized that there are a handful of whales who own even more Dogecoin than he does.

They originally were handing out a million Dogecoin when you solved a block. Man... it would have sucked to have lost your private key if you were one of those people.
 

SunnyD

Belgian Waffler
Jan 2, 2001
32,652
97
91
www.neftastic.com
Hindsight is 20/20. The question is, would you have held this long, in any situation?
Fair enough. The answer to that question now is "long enough to make it potentially life changing". When I sold it, it wasn't life changing. The same amount now wouldn't necessarily be life changing either, but I would be hard pressed to decide whether paying off a large portion of my debt is or isn't life changing at this point.
 

njdevilsfan87

Platinum Member
Apr 19, 2007
2,057
93
91
So I have this dilemma of having over $100K worth of coin on an exchange. Back in 2017 they started doing basic verification and locked everyone out of their accounts, so I ended up leaving some BTC and DOGE on there, worth maybe $10-$15K at the time since I wasn't sure how legitimate they were. I never traded much on that exchange anyway, and at the time it was a small fraction of my overall holding so I didn't care much. I forgot about it until this year. Today it's worth over six figures. They're supposedly full-KYC within the US, but I'm still obviously uncomfortable giving out things like my SSN. I feel like if I end up doing the full verification to access that coin, I'm going to have to pull a lot of my USD out of my bank accounts and start storing USDC on hardware wallets. Maybe I'll wait a bit longer. If BTC goes to $100K and DOGE does another dumb pump it could become worth $200-$300K maybe be worth it at that point to deal with it.

My plan is start storing some USDC on hardware wallets anyway, and lending small amounts on DeFi to become familiar with it. I just wasn't planning on storing much larger amounts there until it becomes more seamless (i.e. direct bank integration).
 
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gorobei

Diamond Member
Jan 7, 2007
3,148
299
126
1btc = $56,190
i may have to start having some opinions on tax rates.

feels like the real institutional money is starting to shift over.
 

ponyo

Lifer
Feb 14, 2002
18,621
2,075
126
The more interviews and stories I read of guys like Ken Griffin, Bill Gates, Warren Buffett, and others try to talk shit about bitcoin and downplay its rising importance, the more I believe in bitcoin. These old money hacks are afraid of bitcoin because they don't control it. People like Griffin, Gates, Buffett are precisely why people should buy and own bitcoin. You absolutely want to bet against these people. And bitcoin is the way to do that.
 

Mai72

Lifer
Sep 12, 2012
10,496
1,103
126
i'm sad that my buddy from college tried to get me to buy "just 1000$ worth" when it first started. so like 50 or 100 BTC at the time.

he was a crazy conspiracy doomsday prepper guy so i didn't listen. and now which one of us is living a retired life of luxury in his 30s?

not me


then again, i probably would've sold out after doubling my money lol
Everything is in hindsight. Imagine if you had that Microsoft stock in 1989. Imagine investing in Amazon in 1997. Imagine this, and imagine that.
 

njdevilsfan87

Platinum Member
Apr 19, 2007
2,057
93
91
I just opened my first USDC DeFi loan through my Ledger to get a little bit familiar with the changing financial landscape and how it works. I'm not lending much as there may still bugs that cause a loss of funds. It's pretty much all in the alpha/beta testing stage.

The process was super easy, but the fees are outrageous on the Ethereum chain right now. That's obviously going to be addressed in 2.0, but it's going to take 3 months just to get my fee money back IF fixed. If variable, it could take longer if the rate drops. But as you can see the financial landscape in the future will be very interesting with everyone able to:

1. Be their own bank
2. Be able to freely lend and borrow without a bank
3. Be able to store liquid assets not directly tied to their identity (ID-theft safe, no key = not your coins)

And to think someone like Bill Gates said we could do without this amazing technology. :rolleyes:
 

ultimatebob

Lifer
Jul 1, 2001
23,417
1,385
126
I don't think it was ever pumped as stable. Maybe some said it would eventually be the most stable.
There are some "stablecoins" out there now that are pegged in value to the US Dollar. They are not exactly exciting to invest in, though.

Don't forget that Coolcoin is pegged in value to the price of a Space Kitty t-shirt. I kinda did that as a joke early on, but it's been a surprisingly stable asset as you can find it from $12 to $16 on Amazon for the past few years.

Who knows... if the Ethereum team ever decides to fix the insanely high transaction fees for ERC20 tokens, I might be able to start trading it again :)
 
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destrekor

Lifer
Nov 18, 2005
28,782
348
126
srs qstn.

Convert LTC, XDG to BTC, ETH or just keep sitting on it.
Perhaps none of the above?

I'm thinking XEM might be a better hold in the very near-term. It's been seeing some real strength as of recent, and there is an upcoming airdrop for Symbol (XYM) which is basically XEM v2. The latest test of the upcoming Symbol blockchain release seems to have performed well, and if the full review of the results this weekend looks good, then the snapshot of the NEM NIS1 chain will likely be soon. Symbol/NEM will kind of be like BTC and BTC Cash, where both chains will remain alive and developed. Symbol really isn't a fork though but rather redeveloped from the ground up IIRC. The snapshot was going to be on January 14th but testing of the new code at the time brought up issues, ones they appear to have resolved this past week but time will tell. Whatever XEM is held at time of snapshot, you'll receive an equal amount of XYM, either immediately or whenever you enable the Opt-In flag on a supporting wallet/exchange (up to 6 years post-snapshot)

I still believe in the NEM ecosystem (at this point, mostly Symbol) as a superior solution to Ethereum, but it's clearly playing catchup. But after the snapshot or after the complete platform launch, I'd expect the XEM value to drop some. So if you want to catch some extra coin I'd look to maybe ride XEM for a bit as I bet buy-in before the snapshot is going to drive the price up, as that is likely the catalyst for the present upward movement. After that, maybe hold that new XYM for a spell and shift from XEM back to BTC or ETH.

There might be some further moves yet for LTC and XDG, but I can't see anything earnest and lasting - XDG is definitely dead and worthless, like a bankrupt company's stock it'll bounce around as people ride it but long-term I see nothing in it. I'm mostly of the same opinion for LTC but on that, like the broader collection of countless other cryptos, I can't even hazard a guess. So many seem to be performing the same roles, at some point there's got to be some consolidation.
 

ultimatebob

Lifer
Jul 1, 2001
23,417
1,385
126
Soo... I decided to stop being a Bitcoin skeptic and HODL some of it.

Fair warning to the Bitcoin investors in the forum, you're probably screwed now :)
 

manlymatt83

Lifer
Oct 14, 2005
10,014
27
91
Soo... I decided to stop being a Bitcoin skeptic and HODL some of it.

Fair warning to the Bitcoin investors in the forum, you're probably screwed now :)
Just as I sold the last remaining amount I had and bought square instead to compensate! So you’ll probably do great!
 
Mar 11, 2004
20,866
3,038
126
I just opened my first USDC DeFi loan through my Ledger to get a little bit familiar with the changing financial landscape and how it works. I'm not lending much as there may still bugs that cause a loss of funds. It's pretty much all in the alpha/beta testing stage.

The process was super easy, but the fees are outrageous on the Ethereum chain right now. That's obviously going to be addressed in 2.0, but it's going to take 3 months just to get my fee money back IF fixed. If variable, it could take longer if the rate drops. But as you can see the financial landscape in the future will be very interesting with everyone able to:

1. Be their own bank
2. Be able to freely lend and borrow without a bank
3. Be able to store liquid assets not directly tied to their identity (ID-theft safe, no key = not your coins)

And to think someone like Bill Gates said we could do without this amazing technology. :rolleyes:
What of those 3 things doesn't also describe paper money or just about any other good?

You've been free to save, lend, and unless you're being really weirdly esoteric, borrow based on paper money and other goods (I take it you've never heard of collateral?) already. And for most, its actually a negative when it isn't tied to you as then someone else can claim ownership and you have little to no way of proving its actually yours.

Not sure what "amazing technology" you think is in play here. Crypto has not and absolutely is not trending towards doing any of the magical utopian BS that people like you claim it will.
 

IEC

Elite Member
Super Moderator
Jun 10, 2004
13,994
3,706
136
BTC 47.6K
ETH 1.52K

“That said, BTC & ETH do seem high lol”

20% haircuts lol
 
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njdevilsfan87

Platinum Member
Apr 19, 2007
2,057
93
91
Soo... I decided to stop being a Bitcoin skeptic and HODL some of it.

Fair warning to the Bitcoin investors in the forum, you're probably screwed now :)
I hope you realize what you've done. You bought Bitcoin, so it crashed. And since Tesla bought Bitcoin, Tesla crashed. And since everyone bought Tesla, everything crashed.

You crashed all the financial markets.
 

BudAshes

Lifer
Jul 20, 2003
12,819
1,732
126
I hope you realize what you've done. You bought Bitcoin, so it crashed. And since Tesla bought Bitcoin, Tesla crashed. And since everyone bought Tesla, everything crashed.

You crashed all the financial markets.
Ban Bob for the good of mankind!
 

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