Watching bitcoin

Today Dec 11,my friend log in and acount show :$0
Becareful my friends.

One wrote:

Today Dec 11,my friend log in and acount show :$0
Becareful my friends.

One, any idea on the exchange or wallet this happened on?

The hype and coverage just keeps growing, I can’t imagine it NOT crashing hard SOONER than later. It’s very similar to what happened with the tech bubble, even as a “commodity”. Good on the people who actually make money off this, especially those who got in early.

Evan Pheneger wrote:

<div class=”d4p-bbt-quote-title”>One wrote:</div>
Today Dec 11,my friend log in and acount show :$0
Becareful my friends.

One, any idea on the exchange or wallet this happened on?

X2. There are a lot of warnings out there to create strong passwords and use multiple step verification. I’d like to know what happened.

gixxer01 wrote:

Fyi…Bitcoin Futures trading begins tonight at 5pm. Good or bad, institutional money is now involved. Either way, Bitcoin has the attention of some major players.

I personally got involved around the $5k mark and am very happy with my gains. Currently just reinvesting profits once a week. Won’t be investing any more capital until i can see what shakes out with the futures trading.

Bitcoin has been touted as the “store of value” similar to how gold once was the store of value for the dollar. Bitcoin itself does not work as well for everyday transactions, due to its higher transaction fees than some other cryptos. Less than 1% of current crypto transactions are used to buy goods/services.

Serious question – how do you have profits to reinvest once per week? Aren’t the profits actually unrealized gains? What am I missing?

Where are you guys trading bitcoin?

I was trying to sign up for gdax but found out that MN is one of 3 states where they cannot allow people to trade from.

Are there any other places to trade for free?

News had this morning that hackers were stealing accounts? That would have to suck? How do you figure out your losses then? Who helps you?

I use coinbase as an exchange website. Do not keep large amounts of money on the exchange! They show you how to make a secondary wallet to make the process more safe. As always make a GOOD password.

riverruns wrote:

News had this morning that hackers were stealing accounts? That would have to suck? How do you figure out your losses then? Who helps you?

Bound to happen with poor passwords and not using multi level verification. It would be like storing your savings in your car.

Dave maze wrote:

I use coinbase as an exchange website. Do not keep large amounts of money on the exchange! They show you how to make a secondary wallet to make the process more safe. As always make a GOOD password.

Do you know anything about Gemini? Coinbase has some absurd fees. I see Gemini has fees but they are complicated. Looks like maybe .25% for low volume traders???

Sounds like gdax is the way to go once they get here. You can trade with 0 fees.

john23 wrote:

<div class=”d4p-bbt-quote-title”>gixxer01 wrote:</div>
Fyi…Bitcoin Futures trading begins tonight at 5pm. Good or bad, institutional money is now involved. Either way, Bitcoin has the attention of some major players.

I personally got involved around the $5k mark and am very happy with my gains. Currently just reinvesting profits once a week. Won’t be investing any more capital until i can see what shakes out with the futures trading.

Bitcoin has been touted as the “store of value” similar to how gold once was the store of value for the dollar. Bitcoin itself does not work as well for everyday transactions, due to its higher transaction fees than some other cryptos. Less than 1% of current crypto transactions are used to buy goods/services.

Serious question – how do you have profits to reinvest once per week? Aren’t the profits actually unrealized gains? What am I missing?

Using Coinbase or Gemini, i have been cashing out my gains into my bank acct. Turning around and purchasing more BTC, Litecoin, etc.
This morning, i cashed out $90 of BTC gains and purchased another $90 worth of Litecoin. Still have the same initial investment, but now have an additional .5 Litecoin (of which has gained an additional $45.

Gaining cryptocurrency without putting up more capital.

I should be doing this on an exchange like bittrex.

Well, I made a purchase tonight. If I were you guys I’d sell now because this is surely the kiss of death.

Bought some lightcoin. I’ve already made my buyers fees back. We’ll see how well I sleep tonight.

You did pretty well overnight.

What blows me away about cryptocurrency is that, at this point, buying at an all time high, still leaves room for gain. Unreal!

I’ve been trying to educate myself on this cryptocurrency phenom. I’m thinking i’ll just stick with pull tabs for now.

Let me preface this with saying I’m not very educated in trading and whatnot, but I don’t see how Bitcoin/Litecoin will ever be considered a true currency when the value swings so wildly. I’ve seen reports where a few years back some guy bought a pizza with Bitcoin. The amount he paid would be the equivalent to $84 million at today’s price. Oops Why would anyone ever spend it when tomorrow it may be worth $1000 more or less than today? A number of people are talking of pump and dump sales by professional traders and they are concerned for the average person waiting and waiting then getting gutted when the bubble bursts. As a commodity it’s fake. There is nothing tangible to hold. I guess that makes it the same as any currency and they is traded all the time in forex, but they are mainly backed by the full faith and credit of governments, whatever that’s worth. There is nothing backing Bitcoin other than “someone” saying it’s worth something. I wish anyone luck trading but keep an eye on it.

biggill wrote:

Well, I made a purchase tonight. If I were you guys I’d sell now because this is surely the kiss of death.
Bought some lightcoin. I’ve already made my buyers fees back. We’ll see how well I sleep tonight.

Nice night into morning for you last night….I sold a bunch of LTC this morning…and it keeps going up

Also, I hope everyone is smart enough not to take any “investing” (if you can even call cryptos that) advice from a fishing forum

Alright….I need some help and advice. I’ve done some research and want to dip my toe into the cryptocurrency world. The reading I’ve done says DO NOT store your bitcoins on an exchange. Isn’t that exactly what coinbase is? It appears the safest way to store your coins is on a hardware wallet.

I’d like to put coins into the exchange to potentially make some money to reinvest, but if it is not safe and can get stolen by hackers, is it worth it?

Do most of you guys put your coin balance in exchanges daily, or are you just buying and holding in a hardware wallet?

If anyone has a hardware wallet, any recommendations?

walleyevision wrote:

Alright….I need some help and advice.

The best advice you could receive is one post above:

Evan Pheneger wrote:

Also, I hope everyone is smart enough not to take any “investing” (if you can even call cryptos that) advice from a fishing forum.

This isn’t a comment on cryptocurrency in general. Just that these questions are best answered by a professional. If you want to know how deep a Flicker Shad will dive on leadcore, then you’re in the right place. Just my opinion.

Check out Dash School on YouTube. While it is put on by a woman at Dash (another cyrpto) the first 3-4 episodes discuss crypto as a whole. I just started them and its a good overview of the process.

Another good learning source is the Podcast “Hash Power” by the website “investors field guide”

My only advice you should take is learn as much as you can and decide what you should do for yourself and don’t invest what you can’t afford to lose.

That is just simple advice but hopefully its goes a long way.

I waited all last month for prices to go down! I got back in last night. I’m curious to see what the new investors and futures market does to the bitcoin price. I’ve heard talk about it slowing the gains/losses. Eth and ltc are sure looking good after last night’s gains! Hey biggill, what exchange did you go with?

My money is going into a old Hamms can in the back yard. That way I actually have something as long as I can remember where I buried it.

Best of luck to all you guys making your fortunes with Bitcoin hope you all prosper!

If your buying it on the futures market realize that the price is per coin and a contract is in the amount of 5 coins. So if the price is $17,000, a contract of bitcoin is roughly $85,000 and you must carry $250,000 worth of margin money. Heard reports of people taking out mortgages on their house to get into this. I hope everyone knows what they are getting into.

I have to admit I wish when I first heard about it back in 2011 I had thrown some money at it.

My nephew dumped some money in it quite a ways back, but not he can’t find his ledger or whatever.

That is probably what would have happened to me.

walleyevision wrote:

Alright….I need some help and advice. I’ve done some research and want to dip my toe into the cryptocurrency world. The reading I’ve done says DO NOT store your bitcoins on an exchange. Isn’t that exactly what coinbase is? It appears the safest way to store your coins is on a hardware wallet.

I’d like to put coins into the exchange to potentially make some money to reinvest, but if it is not safe and can get stolen by hackers, is it worth it?

Do most of you guys put your coin balance in exchanges daily, or are you just buying and holding in a hardware wallet?

If anyone has a hardware wallet, any recommendations?

Write down everything! Passwords, Private Keys, anything an exchange gives you as far as transaction info. KEEP IN A SAFE!

Ledger Nano has been a hardware wallet that gets good reviews.

blackbay wrote:

Let me preface this with saying I’m not very educated in trading and whatnot, but I don’t see how Bitcoin/Litecoin will ever be considered a true currency when the value swings so wildly. I’ve seen reports where a few years back some guy bought a pizza with Bitcoin. The amount he paid would be the equivalent to $84 million at today’s price. Oops Why would anyone ever spend it when tomorrow it may be worth $1000 more or less than today? A number of people are talking of pump and dump sales by professional traders and they are concerned for the average person waiting and waiting then getting gutted when the bubble bursts. As a commodity it’s fake. There is nothing tangible to hold. I guess that makes it the same as any currency and they is traded all the time in forex, but they are mainly backed by the full faith and credit of governments, whatever that’s worth. There is nothing backing Bitcoin other than “someone” saying it’s worth something. I wish anyone luck trading but keep an eye on it.

The fact that this technology of blockchain (bitcoin and others) is “decentralized” is mostly its genius. The blockchain technology is opensource internet trust. Bitcoin is proving that a ledger of transactions can exist without the need for centralized banks.

And as for it as a currency, Venezuela has become one of Bitcoins earliest adopters. Their govt has driven their currency into the dirt with over printing and hyperinflation.

Bitcoins value comes from adoption. As well as the cost of creating bitcoin through mining.

Bitcoins strengths are finite supply and decentralized authority.

It surely was an exciting morning. I really should’ve sold some at $400 and put some in Etherum. I’m going to put a little more into play maybe tonight if things settle down a bit.

biggill wrote:

It surely was an exciting morning. I really should’ve sold some at $400 and put some in Etherum. I’m going to put a little more into play maybe tonight if things settle down a bit.

And…you’re hooked.

Personally, (not financial advice) I use Litecoin and Ethereum as a hedge against Bitcoin dips. Recently, I’ve noticed that as Bitcoin drops, the altcoins tend to rally. Perhaps it’s just that people trade their bitcoin for altcoins (to cash in on altcoin spikes). Dont know if its right or wrong, but its what im going with.

It never fails though, tomorrow, a coin you’ve never heard of before will be in the spotlight sailing past 100% gains.