Just bought $500 of Bitcoin at $6170/BTC

LordBritish

LordBritish

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Jan 28, 2001
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Don't know if I'll regret this but it can only go one of 2 ways !!!

We'll see.
 
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Until the min transfer fee is more reasonable BTC tech is seriously flawed. It has the IRS all over it and no longer gives you the freedom it once had. BTC needs to catch up to the competitors in tech or it'll pull a yahoo.
 
I'm no expert, but the price chart indicates (to me) that perhaps it reached a bottom at around $6000.


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mkrohn said:
Until the min transfer fee is more reasonable BTC tech is seriously flawed. It has the IRS all over it and no longer gives you the freedom it once had. BTC needs to catch up to the competitors in tech or it'll pull a yahoo.
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There are still over 100,000 BTC transactions waiting to be confirmed.

Bitcoin changed the world but it is old tech and its time has come.
 
It's a joke how long it takes to confirm this shit. And my money is just in limbo until then. Pretty annoying.
 
Btc come so far price wise this year that it wouldn't shock me if its below 2k by jan 1st or 10k by then.

What i am surprised at been bt cash. It seems to be surging like crazy.
 
BTC is great for trading on exchanges, storing a lot of money, etc, I just convert it to something like LTC or ETH to transfer between exchanges. The transaction times are ridiculous for the $ amount of fees you have to pay.
 
If it’s for long term. Buy and never look at it again for many years. But btc should test $7k again and then down trend for a few months to the $3-4K range. Probably be ready to start the next Elliot wave pattern 2nd quarter 2018.
 
Is there actually a decent way to buy small amounts of bitcoin that isn't going to cost me $1 fee and like two weeks to transfer money and buy using Coinbase? lol

Are there any BTC index funds I can buy on robinhood? lol
 
You can use GDAX to buy for 0 fees if you use limit orders and your orders are 'makers'.
 
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market orders are a great way to make horrible mistakes

If you buy with cash on coinbase it's never taken more than a couple minutes to get it.
 
Price seems to be bouncing around from $6400 - $6700. It doesn't really seem to have a real direction right now.
 
looks like it's on an uptick right this moment,
looks like 5800 is the point you need to worry about if it drops past it
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LordBritish said:
Price seems to be bouncing around from $6400 - $6700. It doesn't really seem to have a real direction right now.
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sure it does.... straight forward. There's a set amount of currency in crypto as a whole. the amount in total didn't really change during this BTC drop. It simply went back to diversification. It needs a resting period in around this range. S2x is clearly needed and there are other clear tech issues with BTC. Decisions have to be made soon before it makes any sense to go back up to where S2x's fork pushed it. This has been a correction that is showing actually great progress. There is a LOT of belief in it above $5k which is amazing. At this point BTC has to wait for tech decisions to be made and wait for news of major financial institutions supporting it. It takes time. I'd love to see it stabilize right in this range for a few weeks. Continuous to the moon is what defines a bubble.
 
tempted to sell out of my position again, but I don't see a dip yet.
I wish I hadn't completely missed the bch nonsense.
 
how do you buy bitcoin if its not real money with nothing to back it up with? you lost 500 dollars i think in my opinion...its not REAL
 
fightingfi said:
how do you buy bitcoin if its not real money with nothing to back it up with? you lost 500 dollars i think in my opinion...its not REAL
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You buy it the same way you buy a loaf of bread, or a car, or any other possible good/service in the world. Give $ -> Receive bitcoin.

Using your logic, nobody should or would ever buy stocks, or use paper money either but those systems have been in place for centuries. Please pickup an economics book... or expand your knowledge about bitcoin outside of what FOX news tells you.
 
the paper dollar is worthless. governments cant keep up with inflation with out crash/buyout scenarios all the time now. honestly we will end up using 'credits' in the nearish future and transactions will be on some form of blockchain. it is the only possible outcome with out full on anarchy, zombie apocalypse, giant meteor, etc. the 'world debt' is a giant circle jerk, 99.999% of the world population doesn't have more value then they owe.

how is is it that you can even try to say bitcoin has no value? compared to the 90,000$ car in your driveway that the bank made a loan for with money that was vested to them electronically by a government that could not cash out 10% of the 'dollars' that are in bank accounts in the U.S.?
 
Nothing is 'worthless' if people are willing to exchange anything you value for it. Just because you see no value in it doesn't make it worthless. I see no value in piano lessons for myself, however the piano teacher in the strip mall by my house packs in the students, go figure.
 
Just go bank in time. Who found the Federal Reserve? That's right Bankers. Now go to 2017. I don't know the dates here. But the US dollar holds no real value ever since US government decided to not back the US dollar with Gold anymore. But the US government tells you the US dollar has worth. That's because they say so! Who says that the Federal Reserve cannot print a check for lets say 1 trillion. Remember the US dollar is not backed by Gold! All the other countries that can are buying up all the gold they can. Banks are fighting to stop Bitcoin and others because they will have no control and make nothing off it.
 
a number of you need to read about modern economic theory and stop with the stone age interpretation of economics
 
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