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Wow. Bitcoin is almost $1,500

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ultimatebob

Lifer
Jul 1, 2001
23,417
1,385
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.
Hey... at least I warned you!

Ponyo: If you're still here, your buying opportunity is coming up!
 

ponyo

Lifer
Feb 14, 2002
18,621
2,075
126
Hey... at least I warned you!

Ponyo: If you're still here, your buying opportunity is coming up!
lol. I'm very confused by this new ultimatebob. I feel like this is a trap and someone kidnapped the real bob.

I've been playing around with Coinbase Pro. Haven't made any trade yet but it looks all simple. Scrolling bid/ask spread graph looks pretty cool and looks like the Matrix. But holy crap, the transaction fee is high. It looks like the fee is not flat but scales with the amount of the buy or sell. I feel like I'm back in 1990s with the buy transaction fee so high. No wonder people just HODL. Transaction fees are ripoff.
 

ultimatebob

Lifer
Jul 1, 2001
23,417
1,385
126
I'm still think that the price is about to go for a dip, but it's probably a good buying opportunity. I can't think of a better way of spending that next stimmy check that would annoy the government more :)
 

brianmanahan

Lifer
Sep 2, 2006
20,740
2,621
126
I've been playing around with Coinbase Pro. Haven't made any trade yet but it looks all simple. Scrolling bid/ask spread graph looks pretty cool and looks like the Matrix. But holy crap, the transaction fee is high. It looks like the fee is not flat but scales with the amount of the buy or sell. I feel like I'm back in 1990s with the buy transaction fee so high. No wonder people just HODL. Transaction fees are ripoff.
it's cheap compared to regular coinbase!
 
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ultimatebob

Lifer
Jul 1, 2001
23,417
1,385
126
half a percent doesn't seem too bad when I can deposit from my checking and have coins instantly.
Unfortunately, Coinbase's support also sucks. They aren't letting me transfer money into my account due to some weird security flag on my account, and their tech support is ignoring my request for help on the issue.
 

Mai72

Lifer
Sep 12, 2012
10,496
1,103
126
Can someone explain why these 1980 looking guys (CryptoPunks) arer going for tens of thoudsands of dollars? Is it FOMO? Is it a few whales? Celebrities?

Why are these images that look like a little kid from the 1980s made them are going for so much money?


cryptopunk1720.png
 

njdevilsfan87

Platinum Member
Apr 19, 2007
2,057
93
91
GBTC had a fire sale this morning: $41 when BTC was at $47K. And what did Bitcoin do? It went up.

Bitcoin seems immune to paper markets price (manipulation/suppression). Can't say the same about gold and silver!
 

Train

Lifer
Jun 22, 2000
13,755
32
91
www.bing.com
Unfortunately, Coinbase's support also sucks. They aren't letting me transfer money into my account due to some weird security flag on my account, and their tech support is ignoring my request for help on the issue.
bummer about your "weird security flag".

The one time I withdrew cash, it was seamless.
 

ponyo

Lifer
Feb 14, 2002
18,621
2,075
126
Anyone using BlockFi to earn interest on their Bitcoin? Looks interesting. They pay you 6% a year on up to 2.5 BTC you deposit. For more than 2.5 BTC, interest rate drops to 3%. Still better than nothing. But none of the stuff is insured so there's a risk the company goes under or they're "hacked" and you lose your Bitcoins. So definitely not risk-free but it seems like interest rate would be worth it if I plan to just hold Bitcoin and not sell. That is if you trust the company and think they won't go under in Black Swan event.

It looks like they pay you 5.25% interest for ETH with no coin limit. So if you have like $1 million in Ethereum, you would get paid $52,500 a year for keeping your ETH at BlockFi account. Of course you have to pay taxes on that dividend but still, that's not bad. Only risk is do you trust BlockFi and their business/risk management.
 

ultimatebob

Lifer
Jul 1, 2001
23,417
1,385
126
Back in 2017, everyone said that they were going to buy a Lambo with their Bitcoin profits.

We need a more modern goal for 2021. I propose "When Cybertruck?"



Thinking back, I'll bet that if you interviewed 1,000 random people who joked about getting a Lambo with their Bitcoin earnings in 2017, I bet that you would find the following:

700 people who sold their Bitcoin at a loss in 2018/2019
200 people who sold early and broke even
95 people who held onto their Bitcoin and made a modest profit
4 people who made enough Bitcoin profit to actually afford a Lambo
...and 1 person who actually bought the Lambo

Of course, the Internet will only remember that one guy who bought the Lambo and posted a picture of it on Reddit.
 
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VirtualLarry

No Lifer
Aug 25, 2001
50,511
6,077
126
Do you all think that we'll see Bitcoin take another jump, once the stimmy money arrives in March? (Hopefully!)

I'm gonna "keep on mining".
 

ultimatebob

Lifer
Jul 1, 2001
23,417
1,385
126
They announced that they lowered the income cap on stimmies in the US, so I'm not expecting to get any now.

Has anybody come up with a cryptocurrency ETF or mutual fund that has investments in both Ethereum and Bitcoin?

I kinda like the idea of a managed fund, because when (not IF, but WHEN) it gets hacked they should have cyber insurance to secure themselves against losses.
 

himiju

Junior Member
Mar 4, 2021
1
0
6
Hello, it's been a long time since the first post and the price of bitcoin during this time has grown to $ 47,853. This is amazing considering such a short time frame. Now is the time to invest in cryptocurrency!
 

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