Soooo....the point of bitcoin is that it's not tied to banks or traditional currency, but its worth as an investment is how it stacks up against banks and traditional currency? Isn't this like tying a 6 foot rope around a dog's neck and saying it's not a leash because you didn't buy it at Petco?

Couldn't you say the same for gold?

I think $2500 is a good exit point for me. We are back in the 40% premium

You going to jump back in when BTC takes off again?

94chem said:

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Soooo....the point of bitcoin is that it's not tied to banks or traditional currency, but its worth as an investment is how it stacks up against banks and traditional currency? Isn't this like tying a 6 foot rope around a dog's neck and saying it's not a leash because you didn't buy it at Petco?

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The point of bitcoin is that value can be exchanged without traditional banking systems. It is entirely possible to purchase a good or service without ever touching the banking system. It's not how most of the bitcoin is used at this time, but it proves that it's possible. Crypto currency has a long way to go before reaching its full potential, that is the reason for the excitement in the true "believers".

Exactly. I could say the same for gold...or Ukrainian hryvnas...or Russian rubles. This is just currency trading - no more, no less. You've just found a very volatile currency. This just doesn't make sense for most investors who need steady returns over time. Some people are going to enjoy the elevator ride; most won't.

Texaggie7nine said:

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You going to jump back in when BTC takes off again?

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I think I will. I think bitcoin has reached a bit of a plateau. I could be wrong though. I have more than doubled my money at this point, I don't want to get too greedy right now.

Vivicus, The institutional investors will make big plays. At some point one of them will jump off the merry-go-round, and everyone else will follow. It's Orwellian. The bitboys think they've beaten the system, but the banks had them by the cajones the whole time.

94chem said:

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Exactly. I could say the same for gold...or Ukrainian hryvnas...or Russian rubles. This is just currency trading - no more, no less. You've just found a very volatile currency. This just doesn't make sense for most investors who need steady returns over time. Some people are going to enjoy the elevator ride; most won't.

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Yet many long term investors buy into gold when they feel the stock markets are volatile. That is what many people think BTC is becoming for now. A long term solution to holding wealth outside of the stocks and banking systems.

Weather it takes off as a system of currency in every day life really isn't what's important right now.

It's better than gold in that it is known exactly how finite it is, it is much more difficult to steal, it is easily exchangeable across the world in a matter of minutes.

It is worse than gold in that if a doomsday scenario were to happen and governments collapse and the internet and computer systems crash, it could easily become useless.

94chem said:

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Vivicus, The institutional investors will make big plays. At some point one of them will jump off the merry-go-round, and everyone else will follow. It's Orwellian. The bitboys think they've beaten the system, but the banks had them by the cajones the whole time.

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I think your right on the institutional investors. I want to get out before any of the big boys make a move out.

94chem said:

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Exactly. I could say the same for gold...or Ukrainian hryvnas...or Russian rubles. This is just currency trading - no more, no less. You've just found a very volatile currency. This just doesn't make sense for most investors who need steady returns over time. Some people are going to enjoy the elevator ride; most won't.

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I understand the comparison to gold, but I would argue that the other two currencies that you mentioned are pretty dissimilar to bitcoin. A bitcoin can be obtained (mined or traded for) then exchanged (for any other crypto) or spent as a bitcoin and never touch the banking system. The same can be said for gold, but not the other two. Bitcoin is much easier to move than gold, can be traded internationally, or can live on a paper wallet (or in your mind) and can go anywhere you go.

So I'm out at this point, bought in at $900, sold half around $1,800, remainder sold at $2,500.

I'll continue to watch, I think I got in at a good time, 6 months earlier would have been better

Well I took your advice and got out as well. Now I can blame you if it continues to skyrocket.

Put the funds into CAT and TDOC

up 12.32% since I bought it on Tuesday...2 full trading days ago.

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2,600.000

+225.01 (+9.47%)

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Wow

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2,633.000

+258.01 (+10.86%)

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Looking for a pull back that not happening right now.

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2,693.625

+318.635 (+13.42%)

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ok, I sold mine, but now I want back in

It's not stopping.

Vivi, what have you made us do?!?!?

Sorry folks, I'm still happy with my gains. You can always buy back in. I think this is going into the premium, I don't see BTC moving this much. The higher the premium the less comfortable I am.

I don't see this pulling back based on some of the intricate analysis I've done and folks that are pretty close to this know. Even if the big boys get out, there is too much value upside behind digital blockchain technology. Lots of investors and companies are seeing the light that really isn't being disclosed publicly.

2,699.00USD0.00 (0.00%)
Pre-market: 2,948.00Price increase9.23%

on 12/7 when i bought in i was worried I missed the gains on this, but decided to throw some money in and ride it just in case. 11 days and +74% later i'm glad you guys brought my attention to this investment

Never underestimate the ignorance of the market I guess. I have no idea why people are still buying at this price.

Because Bitcoin futures hit the market today, back by this very company. So yeah.


3,300.000

+601.00 +22.27%

Texaggie7nine said:

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Never underestimate the ignorance of the market I guess. I have no idea why people are still buying at this price.

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Agreed, but I guess that makes me the dumb one for getting out too early

aggiedata said:

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Because Bitcoin futures hit the market today, back by this very company. So yeah.


3,300.000

+601.00 +22.27%

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I don't understand why that would make GBTC go up though. The thought was, once bitcoin futures enter the market, people will jump out of GBTC to go invest in futures.

Luckily for us (I guess) anything related to bitcoin is not moving rationally . Rationally the GBTC should move in conjunction with bitcoin, but I think the mania surrounding bitcoin is driving everything irrationally. There very well may be some more gains to be had, but as shares become more expensive they become more out of reach to the low level investors in my opinion. $3,300 per share means you have to have a good bit of commitment if you just want to see where it goes.

Market summary > Bitcoin Investment Trust
OTCMKTS: GBTC - Dec 18, 3:08 PM EST
3,445.01USDPrice increase +746.01 (27.64%)

Yep, now I'm debating getting back in... I don't understand why it's going up so much with Bitcoin stagnant.

Maybe I need to look into how to short stocks.

More and more people are seeing the move to futures as legitimizing Bitcoin. There is a shift in sentiment.
then people look around and there are limited stocks to buy that are supported by crypto-currencies.

Look at MGTI today for another play.. up 36% and it's a 5.71. This movement is where folks want in on this.

Won't we have mutual funds one day composed of cryptos?

Can you see a day where a giant company has it's own tokens, it's own currency maybe?

Possibilities are endless. I do know that changes come today as fast as I have ever seen it.

aggiedata said:

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More and more people are seeing the move to futures as legitimizing Bitcoin. There is a shift in sentiment.
then people look around and there are limited stocks to buy that are supported by crypto-currencies.

Look at MGTI today for another play.. up 36% and it's a 5.71. This is where folks want in on this.

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Yep people want to put money in bitcoin so they are buying up anything related.

I bought TEUM this morning, up 89%. It's marginally tied into the bitcoin realm, but it's shooting up right now...

Other "bitcoin related" holdings I'm in...
RIOT +30%
DPW +7%
MARA +10%

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I bought TEUM this morning, up 89%. It's marginally tied into the bitcoin realm, but it's shooting up right now...

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Hey! We could have used the hat tip to make up for getting us out of GBTC so early.

Thanks for the tip.. wow

Just look at OSTK (overstock.com) today, up 11% when they announced their ICO