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Im a virtual investor now
12-09-2017, 07:42 AM
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#1
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gone traveling
Join Date: Nov 2011
Location: The Deep South Bay
Posts: 744
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Im a virtual investor now
I just bought into crypto currency, I’ll be dumping some stock Monday and adding to my virtual position
This was the cover of the Economist in in 1988, it shows an eagle with a virtual coin around its neck that’s dated 2018, I started seeing this, I think a couple years ago in $600 bitcoin range, I remember wild swings from 600 to $1200 and back down and that made me very afraid of it.
I like to study world economics and currencies and have been leery of central banks and currencies since 2008, because of this I’ve kept my own reserves in silver and gold bullion. My friend has been dabbling in bitcoin and cryptos for a while and had been trying to get me on board for the past year, finally this morning I took a position on litecoin
I see more and more merchants accepting bitcoin and I see taking off?, in 2 years it’s exploded and I think it’s time for me to get on, feels virtually safe enough
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12-09-2017, 07:58 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Feb 2014
Location: Syracuse
Posts: 3,501
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Best of Luck. Hope you get an extension of the tide!
No offense, but I'd title this "I'm a virtual speculator now."
__________________
“No, not rich. I am a poor man with money, which is not the same thing"
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12-09-2017, 08:34 AM
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#3
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Moderator
Join Date: Feb 2010
Location: Flyover country
Posts: 25,155
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When I was in Amsterdam this summer I bought a package of tulip bulbs.
They're planted in the front yard and I'm looking forward to enjoying them in the Spring.
May you have at least as much pleasure from your investment.
__________________
I thought growing old would take longer.
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12-09-2017, 08:42 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Location: Northern IL
Posts: 26,806
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Who/what is "Im"? International Money? "Imaginary Money"? - ERD50
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12-09-2017, 09:08 AM
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#5
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gone traveling
Join Date: Mar 2015
Posts: 3,508
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Quote:
Originally Posted by 97guns
I started seeing this, I think a couple years ago in $600 bitcoin range, I remember wild swings from 600 to $1200 and back down and that made me very afraid of it.
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Are you no longer seeing wild swings that make you afraid?
Or are you just used to the wildness now?
Quote:
I like to study world economics and currencies and have been leery of central banks and currencies since 2008, because of this I’ve kept my own reserves in silver and gold bullion.
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From what I hear, lots of goldbugs are speculating in bitcoin these days.
Quote:
finally this morning I took a position on litecoin
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Why litecoin?
Quote:
I see more and more merchants accepting bitcoin and I see taking off?, in 2 years it’s exploded and I think it’s time for me to get on, feels virtually safe enough
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I guess we all get to decide what we consider "safe" and what is not. While I see lots of media attention these days, I don't see any increased safety.
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12-09-2017, 09:09 AM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2014
Location: Spending the Kids Inheritance and living in Chicago
Posts: 16,973
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OP - So I'm guessing you are just buying some litecoin and hoping it goes up , or are you setting up mining rigs and creating coins yourself ?
Where did you buy the coin's, and how much are you willing to put into it ?
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12-09-2017, 10:21 AM
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#7
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Thinks s/he gets paid by the post
Join Date: Mar 2008
Location: Atlanta Suburb
Posts: 1,499
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Quote:
Originally Posted by braumeister
When I was in Amsterdam this summer I bought a package of tulip bulbs.
They're planted in the front yard and I'm looking forward to enjoying them in the Spring.
May you have at least as much pleasure from your investment.
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I can't remember if I sold my bitcoin and bought tulips or sold my tulips and bought bitcoin. No matter, the outcome will probably be the same.
__________________
"Oh, twice as much ain't twice as good
And can't sustain like one half could
It's wanting more that's gonna send me to my knees" - John Mayer
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12-09-2017, 10:25 AM
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#8
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Full time employment: Posting here.
Join Date: Jan 2008
Location: Flyover America
Posts: 679
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Gods speed. I just sold my bit coin, Litecoin and Ethereum.
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12-09-2017, 10:48 AM
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#9
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Full time employment: Posting here.
Join Date: Dec 2006
Posts: 880
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OP: You have to be kidding, Right?
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12-09-2017, 10:51 AM
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#10
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Thinks s/he gets paid by the post
Join Date: Jan 2017
Location: Hog Mountian
Posts: 2,077
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Quote:
Originally Posted by GravitySucks
Best of Luck. Hope you get an extension of the tide!
No offense, but I'd title this "I'm a virtual speculator now."
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+1.
__________________
Never let yesterday use up too much of today.
W. Rogers
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12-09-2017, 10:59 AM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Dec 2008
Posts: 12,566
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Bitcoin, litecoin...if I bought it, it would all turn to bitecoin.
We
__________________
If you understood everything I say, you'd be me ~ Miles Davis
'There is only one success – to be able to spend your life in your own way.’ Christopher Morley.
Even a blind clock finds an acorn twice a day.
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12-09-2017, 12:35 PM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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I think it is OK to be a "virtual investor" with virtual money. I do not want to exchange real money, fiat as it is, for bits.
The entire world still accepts the greenback. Well, they also accept the euro, the pound, the loonie, etc..., although I would not want to keep any money in Zimbabwe dollars. I have not even been there!
When the guy who mows my lawn accepts "bits" in return for his service, I will own some bits. He does not even accept euros.
Oh wait! I do not even have a lawn now. It's all xeriscape.
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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12-09-2017, 01:06 PM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Posts: 35,712
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Oh man! Learn something everyday.
That Wiki article says:
Titcoin is a bitcoin clone that leverages the same SHA-256 set of cryptographic hash functions. The four key differences between Titcoin and bitcoin are the total number of coins to be issued, the total number of coins rewarded per block, the average block time, and the network difficulty retarget frequency. People have computers to spit out bits all over the place. A guy and a few friends can set up computers in their closet to generate bits to make a new "currency".
And it also mentions several similar bitcoin knockoffs: SexCoin, WankCoin, TittieCoin, GroinCoin, etc... A few have died off. Hmmm....
I wonder why some live on while other do not gain acceptance. Is it because the strong ones get a government backing or something?
__________________
"Old age is the most unexpected of all things that happen to a man" -- Leon Trotsky (1879-1940)
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
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12-11-2017, 03:57 AM
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#15
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Thinks s/he gets paid by the post
Join Date: Oct 2013
Location: Cholula
Posts: 1,595
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Quote:
Originally Posted by jim584672
T*tcoin is the future
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Accepted as payment for lap dances at strip clubs near you!
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12-11-2017, 02:11 PM
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#16
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Recycles dryer sheets
Join Date: Nov 2017
Posts: 137
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cyber currencies are making the stock market look very cheap now. Lol
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12-12-2017, 07:00 AM
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#17
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gone traveling
Join Date: Nov 2011
Location: The Deep South Bay
Posts: 744
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My litecoin investment doubled up in 3 days, bought in at $170 when I started the thread and it’s $360 now.
It’s easy to sit on the sidelines and pick it apart as to why it’s a terrible investment, I’ve been there... the hard part is to take the position, but once you have and see gains it becomes easy
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12-12-2017, 07:27 AM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Sep 2005
Location: Northern IL
Posts: 26,806
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Quote:
Originally Posted by 97guns
My litecoin investment doubled up in 3 days, bought in at $170 when I started the thread and it’s $360 now.
It’s easy to sit on the sidelines and pick it apart as to why it’s a terrible investment, I’ve been there... the hard part is to take the position, but once you have and see gains it becomes easy
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What is your exit plan?
If I were to take a run like this, I'd sell half now. That way, I can't lose my initial investment, even if it goes to zero from here.
Is this stuff liquid? What does it take to sell half?
-ERD50
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12-12-2017, 07:29 AM
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#19
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gone traveling
Join Date: Nov 2011
Location: The Deep South Bay
Posts: 744
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I’m pressing the bet, $390 now
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12-12-2017, 07:57 AM
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#20
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Thinks s/he gets paid by the post
Join Date: Mar 2008
Location: Jalisco, Mexico
Posts: 1,738
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Just posted a LONG comment here - seems to have been eaten by browser or forum gremlins *sigh*
Much shorter recap - cryptocurrencies may seem like play money, or utter speculation, but the technology behind it is solid and gaining worldwide acceptance and incorporation. Also, they started trading on the CBOE futures market yesterday and crashed the whole exchange a few times. Well, the web site at least. Lots of trading halts due to massive spikes. Interesting times!
https://www.express.co.uk/finance/ci...ket-investment
The originator of bitcoin now owns about $15Billion of them. Hasn't touched them. Mysterious dude...
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