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Thread: Bitcoin.....

  1. #1
    Verified Companion Companion Anna Nikkole's Avatar
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    Bitcoin.....

    I got a alert it was super low like 53k a coin this morning. I buy a little on Cashapp.

    Us providers get lots of bitcoin, curious if some put most or all in Bitcoin or are expecting a big pay off.

    Who else does this. I would love to hear opinions even success stories. I'm so new to stocks I can only play and dabble.
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    Bitcoin is volatile. From everything I read though, it is only going "up".

    I first put some money in on January 29th of this year. It was at $33,817.51 at the time of my first investment.
    I have made several since them. My last purchase was at $64,073.99. So in less than 3 months, it almost doubled. By April 29th, it wouldn't surprise me if it has doubled since the date of my initial purchase.

    I would not get to caught up in the big swings. With the U.S. debt where it is, and with no end in sight to the spending spree, I don't feel you have made a bad decision in buying some. Your worst decision(mine too) may be not buying more.

    And if it is good enough for Elon's company, it's good enough for me. It's actually not just Tesla, there are other companies who are jumping on board. I believe the city of Miami is even involved with it in some form.

  3. #3
    Verified Companion Companion Anna Nikkole's Avatar
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    Quote Originally Posted by grand1001 View Post
    Bitcoin is volatile. From everything I read though, it is only going "up".

    I first put some money in on January 29th of this year. It was at $33,817.51 at the time of my first investment.
    I have made several since them. My last purchase was at $64,073.99. So in less than 3 months, it almost doubled. By April 29th, it wouldn't surprise me if it has doubled since the date of my initial purchase.

    I would not get to caught up in the big swings. With the U.S. debt where it is, and with no end in sight to the spending spree, I don't feel you have made a bad decision in buying some. Your worst decision(mine too) may be not buying more.

    And if it is good enough for Elon's company, it's good enough for me. It's actually not just Tesla, there are other companies who are jumping on board. I believe the city of Miami is even involved with it in some form.
    I have around $300 in it. Ill buy 50 here and there. Nothing that would affect me either way.
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  4. #4
    Verified Hobbyist BCD Ben Rhimene's Avatar
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    Quote Originally Posted by grand1001 View Post
    Bitcoin is volatile. From everything I read though, it is only going "up".

    I first put some money in on January 29th of this year. It was at $33,817.51 at the time of my first investment.
    I have made several since them. My last purchase was at $64,073.99. So in less than 3 months, it almost doubled. By April 29th, it wouldn't surprise me if it has doubled since the date of my initial purchase.
    It is trading at $50k right now, so it is not only going up. Your first statement is accurate; it is volatile and you need to be prepared for losses. Or gains...it is up 2% in a day.

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    Thanks for correcting me.

    Okay, I'll change what I said then.
    Don't invest in bitcoin. The downturns could end up being permanent so there is a chance you will lose a lot or maybe all of your investment

    Sell your Tesla, MOGO, & Coinbase stock now.

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    Governments are eyeing these digital currencies. They will be finding a way to regulate them. Like it or not, it's coming. I noticed that the tax forms this year are already asking if you owned any such currencies. I've even read couple of articles I found about the government looking into regulation. Uncle Sam is gonna get his. Once that happens, it will be interesting to see how that market goes.

  7. #7
    Verified Hobbyist BCD Ben Rhimene's Avatar
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    Quote Originally Posted by grand1001 View Post
    Thanks for correcting me.

    Okay, I'll change what I said then.
    Don't invest in bitcoin. The downturns could end up being permanent so there is a chance you will lose a lot or maybe all of your investment

    Sell your Tesla, MOGO, & Coinbase stock now.
    Always amateurs involved. It was up quite a bit today when rest of market was down.

    This board doesn't need stock touts, just like it doesn't need pussy pimps. Any moron monger can tell you to buy Bitcoin or Amazon...just ask the morons who were touting Enron in 2000...

    Or ask your dad how his GE stock has held up.

    If you have fundamentals to share please do so, but spare us the blind investment advice...it is insulting.

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    We all have to wait and see how the cryptomarket plays out. I think Bitcoin will continue to increase but you're in the wrong crypto coin if you think you're going to make massive gains. Maybe you can double your money in a year-few years. I don't think its far fetched bitcoin will reach 100,000 by the end of this years bull run, but you could do that now with cheaper coins before the cycle is over with. Yes the market is volatile but the crypto market is just picking up steam. Long term if I were you I would look into XRP. For short term massive gains, doge. Not kidding. Good luck.

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    I agree with you^^.
    There is the potential for much, much, much more growth in the non-bitcoin cryptos.

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    Ethereum world now???

    Ethereum!!

    Get on board. Imagine the gains possible if it reaches just half of bitcoins value.

  11. #11
    Verified Hobbyist BCD Ben Rhimene's Avatar
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    Quote Originally Posted by Solve_et_coagula View Post
    For short term massive gains, doge. Not kidding. Good luck.
    Unless Elon Musk jokes about it on SNL...and it skids overnight.

    Which is at the heart of my concerns over crypto...do not seem to be any fundamentals with respect to valuation. It is not yet clear which crypto is VHS and the rest are Betamax (you kids may want to google so you can see what happened to the next best thing in the 80s). Thus it is pure speculation, and you could make a fortune if you pick the right horse. But if one is able to differentiate itself the others may crumble around it...

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    exactly. It takes some research to see which ones are VHS and which is Betamax. XRP is VHS. They have alot of things going for them. Crypto isn't going away anytime soon. You're right. This is the purely speculation phase. It's why I chose the one with the best technology and board of directors backing it up. Doge is for my fun money. XRP is longterm, never selling, generational wealth.

  13. #13
    Verified Hobbyist BCD Ben Rhimene's Avatar
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    Crypto experiencing sell-off overnight, in part because Tesla has reversed course on accepting Bitcoin.

    Not suggesting you should sell or not, but those who think this market only moves in one direction may want to monitor it more closely in case yhis becomes a full-blown correction...

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    I welcomed the snl live it wasnt a slug at Dogecoin it was actually telling people to buy in.. I did 200 shares at .40 cents a share yeah ill check back with it at the end of the year. But please dont strictly invest in one type of stock( diversity in your portfolio is key) i also have seriusxm stock, pharma, afew shares of microsoft( these were given a bday presents at 21) stock as well as ( though controversial) cannibus

    The way i was explained stock investing was that it contracts and expands itll drop sometimes drastically but unless youve just picked horrible stocks they usually expand bigger then they were before.. Although i just buy ive never sold a single share as of yet.. I figure its rainy day fund or like a plan b.. Though the pandemic seriously caused me to consider selling a few shares of the cannibus stock but boy am i glad i didnt ..woulda been a hell of a regret.
    Last edited by lovelyxxxo; 05-13-2021 at 10:08 AM.

  15. #15
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    You very well may be correct, Ben.
    It's one really bad for cryptos. I haven't looked, but I am pretty sure Tesla still owns a lot of bitcoin.


    If Tesla were to next announce they have sold off their remaining bitcoin.....ugh, talk about ugly.

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