Snotbubbles
Footballguy
Bitcoin Investment Trust (GBTC) but you have to pay $1.42 for $1 of bitcoin there. I assume other funds are similar in setup.
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Bitcoin-Explain to me how to buy these things (4 Viewers)
- Thread starter Sheriff Bart
- Start date
hagmania
Footballguy
onionsack
Footballguy
JerseyToughGuys
Tough Guy
Bob Sacamano
Footballguy
And again
BoltBacker
Footballguy
Are we getting close to a buy opportunity?
Big believer in the long-term outlook of crypto-currency but it's tough to suss out which will be the Friendster of crypto, which will be the MySpace, and which will ultimately be the FaceBook(the one you want).
Does anyone have an opinion of the ultimate "winner" is even on the market yet, and why exactly you feel that way?
I realize this isn't the ONLY thread on the subject on this board, but hopefully this could be the "For Dummies" version. It's a big subject and you can find yourself in the deep water quickly.
~ Just a dumb curious guy so keep it simple fella's
Big believer in the long-term outlook of crypto-currency but it's tough to suss out which will be the Friendster of crypto, which will be the MySpace, and which will ultimately be the FaceBook(the one you want).
Does anyone have an opinion of the ultimate "winner" is even on the market yet, and why exactly you feel that way?
I realize this isn't the ONLY thread on the subject on this board, but hopefully this could be the "For Dummies" version. It's a big subject and you can find yourself in the deep water quickly.
~ Just a dumb curious guy so keep it simple fella's
![[icon]](/data/avatars/m/5/5167.jpg?1660313464){kind=avatar}
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Insoxicated
Short answer: anyone who says they know are either delusional or lying.
IMO much like Mozilla>Netscape>Explorer>Chrome.... the eventual champion likely hasn’t even been created yet.
PinkydaPimp
Footballguy
ren hoek
Footballguy
I think so. My mindset is to accumulate while interest is drawn down. I saw an interesting chart that appears to make sense out of Bitcoin's historic values (which ultimately extends out to the rest of crypto markets).
https://i.imgur.com/PT7jc60.jpg
The next halving of the block reward (which is the amount of bitcoins distributed to a miner who successfully mines a block) should occur around 2020. Bitcoin has absolutely no value proposition as either a currency or a store of value. Again, it is dead in the water and has no reason to exist anymore. It will absolutely #### the bed every time it generates enough interest for people to start moving them around again. It can barely handle the transaction volume of a Walmart. There's always the chance it could blow up from speculation and name recognition again, but it truly is the MySpace of crypto.
I still think Bitcoin Cash and Basic Attention Token are the safest longterm plays. I think Ethereum will rebound too, but I'm not sure about their plan to scale long term.
A seller recently told me that they only accept Bitcoin as currency. I did a search and came upon this thread. I know there hasn't been any activity in a while, but it's 30 pages long and I'm hoping I can just get an answer from someone who has familiarity.
If I'm buying $100 of product from the seller, do I just download one of the Bitcoin apps and purchase however many bitcoins $100 buys me? And then do I ask the seller where to send it? Similar to Western Union or something like that? Last question is, will that $100 worth of bitcoin necessarily still be worth $100 if he doesn't claim it for a few days? Thanks to anyone who can help me out.
If I'm buying $100 of product from the seller, do I just download one of the Bitcoin apps and purchase however many bitcoins $100 buys me? And then do I ask the seller where to send it? Similar to Western Union or something like that? Last question is, will that $100 worth of bitcoin necessarily still be worth $100 if he doesn't claim it for a few days? Thanks to anyone who can help me out.
Chaos Commish
Footballguy
The transaction happens quickly. When you click 'pay with bitcoin' the seller's site will open a payment window with the address and required bitcoin amount (price). You open your wallet and click send bitcoin, copy and paste the address and amount from the payment window and send. Done. What wallet and how to buy bitcoin is probably left to other posters at this point, but I use a blockchain.info wallet and a coinbase account. There are easier ways to do this quickly, maybe something like CashApp by Square.
JerseyToughGuys
Tough Guy
Bitsy is a very user-friendly on ramp. You will have to do some KYC stuff and get verified, but it's really easy.
https://bitsy.com/
(disclosure: I am invested in the company that owns Bitsy (Medici Ventures).
https://bitsy.com/
(disclosure: I am invested in the company that owns Bitsy (Medici Ventures).
JerseyToughGuys
Tough Guy
Thank you for the response. Is it best (or neccesary) that I use the same app that the seller used, or doesn't that matter?
JerseyToughGuys
Tough Guy
It does not matter. You don't need to use the same app.
The wallets are like the web browsers you use to surf the bitcoin network.
Rhythmdoctor
Footballguy
It certainly appears that the bear market is complete and a new bull run will commence. Gonna be a very slow grind getting back up towards $20k tho. It’s not gonna happen overnight or even this year.
That’s optimism. I’d be super leery based on the article below. A single buyer driving a 23% price change and 95% of trading being fake?
https://nypost.com/2019/04/02/mystery-bitcoin-buyer-causes-huge-spike-in-price/
Rhythmdoctor
Footballguy
Eh, I'm not concerned about some b.s. article.
How does he know this? He doesn't.
Ok.
Here's my quote of the day:
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hooter311
Footballguy
Rhythmdoctor
Footballguy
Very unlikely but I hope you’re right. I think the rest of this year is going to be a lot of sideways action, typical of the early phase of a bew bull run.
Quite possible. It would be awesome if it did. Short term predictions are tough though. I am up over 100 percent over the last few months. But some of the early money I put in is still down 90 percent. But it is at the point now, I am up overall.
hooter311
Footballguy
hooter311
Footballguy
BTC will never be digital currency used for common purchases. It is closer to gold where you store money or for large transactions where speed may not be critical. The real winners in crypto will be the ones used for internet commerce. When Bitcoin shots back up to $20k probably in the next few years which is 5x where it is today, there will be other crypto which shoots up 20x. I would imagine most will fade away eventually leaving a few big winners.
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Rodrigo Duterte
Footballguy
You have four posts like this since the thread got rebooted but without any reasoning. I would love for you to detail why you are so bullish, when you have the time. Thanks.
hooter311
Footballguy
Mainly comes down to scarcity of mining coins increasing by exponential factor by the day and if I needed to move a large sum of cash in the next 10 minutes with no take backs, btc is the only instrument I would trust.
My prospective might be slightly skewed because I bought my first Bitcoin for like $17 and somehow timed the first bubble perfectly.
Gave more than a decent chunk of it back trying to time bottom and then bailed when it plunged below the 6k resistance. At that time the loss was enough for me to proclaim btc is dead!
Throw the charts out the window and ride the wave. Ive only ever used btc, I'm a simpleton when it comes to other alt coins.
brun
Footballguy
If you're like me and don't know enough about bitcoin stuff, and have Amazon Prime. You might interested to know that The Internet of Money by Andreas Antonopoulos is available in Prime Reading. Talks specifically to bitcoin, but in doing so, sheds some light on crypto in general.
The book has links to the source videos as well.
BoltBacker
Footballguy
hooter311
Footballguy
JerseyToughGuys
Tough Guy
Very good read.
Another good one is The Bitcoin Standard by Saifedean Ammous. It focuses on the economics of bitcoin specifically the idea of "hard money," long time preference, etc.
Big League Chew
Footballguy
Isn’t Facebook coming out with a new crypto ? It’s supposed ed to come with some regulation that restricts these huge jumps
hooter311
Footballguy
Mario Kart
Footballguy
hooter311
Footballguy
matuski
Footballguy
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Peyton Marino
Footballguy
JerseyToughGuys
Tough Guy
The halving and BTC price cycle has repeated several times in the past 8 - 10 years.
Here's an illustration.
JerseyToughGuys
Tough Guy
Libra is going to drive FOMO like crazy.
It should also weed out and kill a bunch of similar centralized ####coins.
Will be fascinating to watch.
It should also weed out and kill a bunch of similar centralized ####coins.
Will be fascinating to watch.
hooter311
Footballguy
Cost of "mining" a bitcoin still costs more than market value, that fact alone should be all the technical support you would need. The only way bitcoin fails at this point is if Blockchain technology itself were to fail, and I don't see that happening. Scarcity of BTC is increasing exponentially, the price will begin too.
If you aren't already a believer, I don't know how to convince someone at this point in the game. In a few weeks, our grandmas are going to be asking about Facebook's LIBRA coin. Libra has massive potential to pave the way for crypto-favored legislation. If BTC does dip with the release of LIBRA, just buy more, because it will only be temporary.
ETA: Apologies for being a smart allec.
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matuski
Footballguy
matuski
Footballguy
@hooter311
So are you recommending buying now or waiting for the next dip? Buy LIBRA from the get go?
So are you recommending buying now or waiting for the next dip? Buy LIBRA from the get go?
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hooter311
Footballguy
I feel like there's enough support at 9k to get in now. Not expecting more than a 10% dip if it does, and it could just as easy go up 20%.
I don't know exactly how LIBRA is going to even work, I think we're supposed to find out today. I am very bullish on LIBRA, but it's much riskier as well. I need to know more about it before I get too much behind it.
ILUVBEER99
Footballguy
Isn't LIBRA gonna be pegged to currencies? From my understanding it's going to be a stable coin.
hooter311
Footballguy
Thank you for this. That's how little I knew about how LIBRA was going to work.
If that's the case, even more bullish on BTC. Sticking by the $20k+ by year end.
