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Who had a "Gut Feeling" about Bitcoin?

Discussion in 'Topical Discussions (In Depth)' started by Fatboy, May 22, 2017.



  1. #48Fan

    #48Fan Silver Member Silver Miner

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    I guess I need to be more specific: overall crypto market cap approaching $300 billion.
     
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  2. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    That's a 42% increase in 13 days.
    https://coinmarketcap.com/charts/

    Amazing that some still think this genie is going back into a bottle.
     
  3. Area51

    Area51 Silver Miner Seeker

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    Even more amazing is that some still think those absurd "gains" are realistic.

    I see you've started playing both sides of the fence now - - still shilling for how wonderful bitcoins are but also talking about liquidating and getting out while you still can.

    Anticipating the inevitable or just a preemptive move to save face when it plummets?
     
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  4. Joe King

    Joe King Gold Member Gold Chaser

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    I suppose time will tell, right? Question is, how much time? People have been using your argument since the first time btc hit $15 and every time they've been wrong. How long until what was said against it at $2000 is proven wrong? Or $4000? or now $8000? At what point is it ok to think earlier "absurd gains" weren't wrong?

    Or do we just keep recycling the same argument against it as we keep moving the decimal place to the right?
     
  5. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    I trust that was intended to be rhetorical JK. Some guys seem incapable of self reflection.

    The same arguments about bitcoin have been going on at least as long as I've been here and being wrong every single time doesn't seem to have even made a dent for some. They gloat when it drops a few percent and predict doom and gloom when it goes up hundreds of percent in a few months.

    With all the fiat/bankster hate and freedom love that exists here, you'd think that everyone would be thrilled that people have a choice outside the bankster's scam, but I guess some people's motives are more complicated than that.
     
  6. Joe King

    Joe King Gold Member Gold Chaser

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    You'd think.
    ...but truth is, most people desire authority over them. Even if only secretly. After all if a full 2/3rds of the People would kill ya if an official looking guy in a lab coat told them they needed to, imagine what percent would go along with anything less than that? What to use as money is way down on the list.
     
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  7. #48Fan

    #48Fan Silver Member Silver Miner

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    I heard BTC forked yet again the other day. Did ya'll get your bitcoin diamond? Supposed to be 1:10. I did not as I'm all in on alts atm.
     
  8. Joe King

    Joe King Gold Member Gold Chaser

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    Any favs? Several have been on fire here lately.
     
  9. #48Fan

    #48Fan Silver Member Silver Miner

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    I have some favs, for sure. None of them have done much yet: PAY, ETHOS, UBQ, IFT, and SAFEX are the ones I have the biggest holdings of. All of which, besides ETHOS are down considerably from where I got in. But I will also say that I'm long term on all of them, so I'm not concerned.
     
  10. goldielox1

    goldielox1 Silver Miner Seeker

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    If someone didn't think that bitcoin at 5000 was a bubble and sell, or bitcoin at 8000 was a bubble and sell, do you really think that person will think bitcoin at 9,500 is a bubble and get out? I doubt that mental midget has the intelligence to actually dump his bitcoin. But you're right, maybe deep down he feels the need to hedge his verbal diarrhea so when it crashes, he can claim, "oh yeah man I got out at 9,500, even though he rode it into the toilet when it flushed." And also he can tell all the poor bagholding suckers he deceived that he warned them.
     
  11. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    At this point, I don’t have the stomach to get into bitcoin. I felt it was too much at $2,000 each, and now at over $8,000? Preposterous.

    If rare hummels suddenly increased in value 35x over 2 years, would anyone question it or consider its the result of mania?
     
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  12. #48Fan

    #48Fan Silver Member Silver Miner

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    It seems like a lot, for sure. I started buying around the $2000 level. Since then, when there is a considerable correction, I buy a little more (the last time was the pull back to the $5800 level). Let's face it, the trajectory is up. I actually only buy BTC to put into the altcoin market. This is where I feel the big gains will be made going forward. Have I been correct thus far, nope. I've only been putting money in this arena that I can lose. If I do make a little, rest assured, that I will be converting to PMs.
     
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  13. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    Last time I converted fiat directly to bitcoin, the exchange rate was around 330. Even at that level there were people here claiming it was way too risky and would surely crash to zero. The question to me was simply, why should I trust the USD to do any better? Why people treasure their fiat currency so highly is what I have difficulty comprehending. We all know the government lies constantly about how swiftly they're debasing their currency, heck I couldn't even tell you with any accuracy how many US dollars exist...and I'm supposed to trust it? No thanks.
     
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  14. Joe King

    Joe King Gold Member Gold Chaser

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    Buncha Fed lovers they be.
     
  15. andial

    andial Sir Midas Member Site Supporter ++

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    It aint real money unless it says FRN right in the front.
     
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  16. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    Precisely. Federal Reserve Note

    A note is not payment...at best it's a promise to pay. This is what people cherish and are afraid to risk for skeery bitcoins. Hey, they could lose their goobermint promise slips.
     
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  17. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    It’s not that we trust the FRN, it’s that we don’t trust an asset that his increased 30x in the last two years. No asset in history has done that safely and not crashed, catastrophically.

    Bitcoin impresses me, I’ll say that much.
     
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  18. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    People bash on fiat currencies everyday, then the vast majority proceed to take steps to ensure fiat dominance. Bitcoin is giving people a choice, nothing more. It's rising relative to fiat simply because lots of people rightly see fiat currencies as fundamentally unfair, predatory, and opaque.

    It has been mentioned in other threads, but for anyone paying attention the USD index has been nose diving all year. To date it is down 10% YTD, yet certain commodities have done jack sh1t even when measured in US dollars. Now HOW is this possible? How can you value a commodity in terms of fiat and then not have that commodity rise in value when that same fiat currency unit declines in value relative to other fiat currencies? IMO, bitcoin is simply doing what gold and silver would be doing if they weren't tied down by bankster paper scams. People that blame bitcoin for hurting gold and silver conveniently ignore the huge surge in PMs in 2011...and the ensuing slam down. Bitcoin did not cause either of those events. The fiat scam is coming unraveled and bitcoin is leading the way simply because banksters haven't yet been able to control it.
     
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  19. stonedywankanobe

    stonedywankanobe Gold Member Gold Chaser

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    I was so new to silver. everyone here save for 2 people were dead set against these coins, me included, though I listened and tried to learn some.

    Silver felt right but guys we could all have been so rich there would be a gim'r running for president for the next 200 years.

    Dsmustang was touting them here at $7 each.
    People scoffed when he said soon they would buy an ounce silver. He's been nothing but right and long gone. He even had the balls to tell us back then that they would be valued at 10k in due time. I shit you not he did, like a feckin prophet.


    Feck!
     
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  20. goldielox1

    goldielox1 Silver Miner Seeker

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    Snore. We could have also bought a power ball lottery ticket or picked the correct penny stock or correct call option. If you are a gambler have at it. If you want to make a wise investment, keep stacking phyzz.
     
  21. Joe King

    Joe King Gold Member Gold Chaser

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    He even gave some away @$15.
    ...but the guy that got them didn't care enough to keep up with them. Now he appears to be out $20k.
    Edited to add:...and @Dude , if you're still out there, if you haven't been able to recover your coins, I think everyone feels bad for you. It'd be like forgetting which end of the lake it was that the boating accident happened.
     
    Last edited: Nov 28, 2017
  22. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    Ethereum Classic(ETC) is up over 55% last 24hrs.
     
  23. andial

    andial Sir Midas Member Site Supporter ++

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    Real mericans use FRNs Bitcoin is globalist.
     
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  24. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    I use FRNs...to exchange for bitcoins...to exchange for PMs. Guess that makes me a merican globalist. ;P
     
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  25. Silver

    Silver Gold Member Gold Chaser

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    https://www.theverge.com/2013/11/29/5156246/7-5-million-bitcoins-on-hard-drive-thrown-away-in-uk

    75 million now...

    A British man who threw away a hard drive containing bitcoins worth $7.5 million has started searching his local landfill in an attempt to find it again. James Howells amassed 7,500 bitcoins in 2009, but disposed of the hard drive they were stored on earlier in 2013 after it sat unused in a drawer for three years.

    A bitcoin is now worth $1,000, but Howells' 7,500 were obtained at a time when they were nearly worthless. Howells — who says he'd "never thrown a hard drive out before" — had dismantled the computer he'd used to collect them after spilling a drink on it, eventually disposing of the drive in a "clearout of old IT equipment." Shortly afterwards, Howells says his curiosity was piqued after reading stories about the virtual currency, including one about a Norwegian man, Kristoffer Koch, who'd bought $27 of bitcoin at the same time as he had. Koch's investment was worth $886,000; Howells' is worth much more, but can't be reached without access to the wallet file on the hard drive.

    The hard drive could be "3 to 5 feet deep" in garbage

    Howells isn't optimistic about his chances of recovering his bitcoins. According to BBC News, he was told by the dump's manager that his million-dollar drive "could be 3 to 5 feet deep" in the landfill the size of a soccer field. Officials who search the landfill for evidence in criminal cases do so "with 15 to 20 people in full protective gear with diggers and dogs as well." Howells says he doesn't have the means to dig into the potentially hazardous waste "without a definite paycheck at the end of it."
     
  26. solarion

    solarion Gold Member Gold Chaser Site Supporter

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    No backups? Wow...that's incredibly stupid. It literally takes 2 seconds to back up your wallet.dat file and with one backup the guy could restore every bitcoin he had.
     
  27. andial

    andial Sir Midas Member Site Supporter ++

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    This is crazy over 10,000 when is the government going to stop this?!?!?!?!
     
  28. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    They need to. Ban all the cryptocurrencies until the government comes out with an approved version at least.
     
  29. goldielox1

    goldielox1 Silver Miner Seeker

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    Yes, it shall be called govcoin.
     
  30. Joe King

    Joe King Gold Member Gold Chaser

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    Over $11k you mean?

    $11126
     
  31. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    If I would have bought bitcoin instead of one ounce of gold in the past 4 years I would be a wealthy man today, instead, gold and silver are pretty much level and exactly the same the entire time ive been stacking 2013-now.
     
  32. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    A guy I did business with selling mining hardware to a few months back told me he sold a leather jacket to a friend, and the buddy gave him a data stick with 95 bitcoins on it, because that was worth around $50 at the time.

    .... he lost the data stick. Theres a million fucking dollars on it. Its lost forever, decaying in the ground of a landfill somewhere under 100 feet of trash.
     
  33. Joe King

    Joe King Gold Member Gold Chaser

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    What about your costs of living during that time? Would you consider that to have also stayed level since then?
     
  34. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    My freind, at this point theres so many stories we know about, and many more we do not, of people that picked up hundreds if not thousands of bitcoins for barely a few dollars that threw them away... what happens to those? they are never reaquired.
     
  35. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    Cost of living is about the same for me. Gold isnt much of a winner, but it does serve a purpose.
     
  36. Joe King

    Joe King Gold Member Gold Chaser

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    Ok, then you're no worse for wear then.

    It will have its day.

    Absolutely. I never said it didn't.
     
  37. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    Just feeling bitter that other asset classes may have done better, so far this year my 401k is up around $39,000 (not counting my own contributions). Seeing this makes me smile, but roll my eyes at the same time. I hope gold will have its day in the next 10-15 years.
     
  38. Joe King

    Joe King Gold Member Gold Chaser

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    Don't feel bitter. Typically there's always something that does better, it seems. No one hits winners every time.
    ....and remember that there are many out there who picked far worse asset classes. You've still not done too bad.



    Well reading that makes me smile too. I'm happy for ya.
    ...and hopefully it'll go up a lot more for you in the future.
     
  39. Dude

    Dude Midas Member Midas Member

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    Hey, thanks for the thought. Work has been busy and while the Houston flood didn't affect my home and rental behind the Addicks dam, I've been helping others. Mom broke a hip and I am devising my plans on building a home on the lake property I bought in MN so other things require time. Ya, buying silver like I always do. Cost averaging on the way down over the last 2 days with ATB deals. Bought 1000 airtites in bulk that need to hold silver 2 years ago, lol. Anyway, I stare at my 2 notebooks that have wallet.dat files that I have updated and spent probably 10 hours on. I fear that I overwrote the one that was supposed to pick up the 2 bitcoins as I remember a glitch occurring on the hard drive. I'm in IT and we all make mistakes, but this one sucks. I have a few vacation days to burn so I will probably drop in again shortly. You boys take care.
     
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  40. Joe King

    Joe King Gold Member Gold Chaser

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    Good to finally hear from ya.
    ...but sorry to hear you haven't found your wallet.dat file yet. If you have any type of forensic software tools or even just an undelete program, it's possible you might be able to recover something that way. Wallet.dat is a small file and might still be lurking on the drive somewhere.

    Best of luck to you in your quest.
     

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