A guy that works for me told me to buy Bitcoin at $700. Like an idiot, I didn't listen.

I bought 11 Litecoin at $85. I sold $1000 worth when it hit ~$340. So now I am playing with house money. This **** makes me nervous.

Anyone else venture into this?

keep hearing about it from various friends.

I'll probably just wait it out and complain that I should have gotten in on it like the early stock days of Apple and Google.

Buy IOTA. That is supposed to be the next big thing.

Litecoin has gone up like 400% in 2 weeks since I bought it. It's just mind blowing. I know this **** is about to implode. But it's quite the ride.

started buying 12/1 which turned out to be very nice timing. took some profits, now hoping for a pullback so i can buy more. gambling is fun as hell.

What makes one crypto-currency better than another? Why are there so many?

I remember thinking about taking$2000 from my trading account and buying Bitcoin at ~$400...

Still kicking myself for that one.

Ragoo said:

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when everyone wants to get it because it seems like an easy "get rich quick" the burst is near.

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Was about to post the same thing...when the media, general public, and your grandma all start talking relentlessly about the same investment, it's time to start planning a run for the hills.

Also remember that these cryptocurrencies aren't really all that liquid and the exchanges are shady at best.

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What makes one crypto-currency better than another? Why are there so many?

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I think it has to do with the market cap, and how many they are going to allow. That is why Bitcoin is so good. Because there is a very limited supply.

The big ones are Bitcoin, Ethereum and Litecoin. Others that I have heard: IOTA and Ripple. Ripple is apparently being used by big banks.

And yes. The bubble is near. You are right. When everyone is talking, it's not good. It's like the dot com bust. But I do think the big ones will survive and be a really great investment. I mean, Amazon was one of the dot coms in the 90s.

the bubble bursting is one possibility. i think we're crossing over from early adopter to early majority though.

We are talking at work about one of two things:

1. Everyone takes $20 and invests in a cryptocurrency on 1/1/18. See who wins at end of year.
2. We all pool $20 each and invest in a few of them. Let it sit and wait...

If a product can't be exchanged for goods/services (given the fact that I cannot go to 99.9% of stores and check out with bitcoin), and has no physical presence or other industrial uses, how exactly is it valuable other than people claiming it is valuable?

I tripled my money in a week and pulled it out instantly no problem. There's money to be made here, but you've got to be smart about it. I think a lot of the hate comes from people who don't understand it or are mad they aren't making money like the rest of us.

I look at it purely like I'm in Vegas. Made a hell of a lot more money than I have in Vegas too.

Ad i got at the bottom of this thread was

4 Cryptos better that Bitcoin

lawless89 said:

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There's money to be made here, but you've got to be smart about it.

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Were you really smart? Or just lucky?

Jonathan Taylor Thomas said:

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lawless89 said:

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There's money to be made here, but you've got to be smart about it.

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Were you really smart? Or just lucky?

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Both. As you would want to be with any investment.

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If a product can't be exchanged for goods/services (given the fact that I cannot go to 99.9% of stores and check out with bitcoin), and has no physical presence or other industrial uses, how exactly is it valuable other than people claiming it is valuable?

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Excellent point. It has no government backing. It has no valuable metals backing it. I think it is valuable because they are capping it, and will not ever make more. And, the transactions using Blockchain are incredibly secure and have no central point of failure.

So, it's very valuable to third world countries. Because instead of the bank printing more money and driving inflation up. Bitcoin and other cryptocurrencies don't have that to worry about.

I could be wrong. I still don't completely understand it.

How much is a bitcoin worth if the electricity goes out??

Or how many bitcoins do you have if you don't electricity?

interesting question, i guess it would be worth the same as the USD i have in an online savings account.

how much is a car worth if there's no access to gasoline? how does the potential for that scenario occuring in the future affect the car's worth right now?

Was just going to research Ripple...their website is down. Not very re-assuring.

ac04 said:

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blockchain technology has value because it has the potential to do for currency/value what the internet did for information. i don't know which specific blockchain or associated cryptocurrency will emerge as the most valuable, but i'm confident the technology itself isn't going away.

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absolutely, the application will probably ultimately not be in currency.

What about E-coin? Anybody try that?

I bought several stocks that are related to Bitcoin and/or Blockchain. When they doubled I sold half. Now I'm playing with "house money" as OP says. Zero stress for me, because there's no downside. Invest a small chunk in what you can afford to lose, and see what happens. I'd stick with major cryptocurrencies or stocks, personally, but your level of risk may vary. See the threads on the Biz board.

Junkhead said:

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Anyone want to buy some Schrute Bucks from me. I'll cut you a good deal.

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What's the exchange rate to Stanley nickels?

Humorous Username said:

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Junkhead said:

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Anyone want to buy some Schrute Bucks from me. I'll cut you a good deal.

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What's the exchange rate to Stanley nickels?

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Same as the ratio of unicorns to leprechauns.

Couple guys at work put $5k each into a joint BTC account 5 years ago. Now worth over $400k.

I told myself I would regret not buying BTC when it was $300 and then again at $600. I was right.

I took $200 in FF winnings four years ago and bought 1/4 of a coin. Two months later the bottom fell out and a full coin was $200. Held on to my 1/4 coin for three years and waited for the price to climb back where I bought in. Sold my 1/4 coin one year ago and got my $200 back. Today, one year later, that 1/4 is worth $4000.

awesome

bedofbrass33 said:

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Couple guys at work put $5k each into a joint BTC account 5 years ago. Now worth over $400k.

I told myself I would regret not buying BTC when it was $300 and then again at $600. I was right.

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You're still good on other cryptos.

I guess those were times where it was about to hit a bubble too. Right, naysayers? I love these predictions when this currency trading is still in it's infancy with plenty of room to grow. Not to mention it's a different animal. Plenty of options out there with more being developed everyday.

Also, these comments are made mostly by people who don't have a stake in it. Too late to the party (in their mind). "Well the party sucks anyway!" Negative discouraging comments.. yada, yada.

Similar to when a recruit decommits.