What are your thoughts on #bitcoin? Do you fully understand how it works? I believe crypto currency in one form or another is the future. Block chain technology will see mass adoption in many fields. Do you own any crypto? Mine crypto? Or plan on staying far away from it? There is some good YouTube videos explaining it. It is no Ponzi scheme as some would have you to believe. Fiat currency is being printed at an alarming rate. It is backed by nothing. The gold standard went out years ago.

Bitcoins and all the other crypto currencies hvae gone down the pan, there is no future for them.

It's no more fake than the actual bills

It takes a fair amount of reading to understand it. I mine a little bit of bitcoin actually. I treat it as a hobby. I like to keep up with technology. Keep the mind working. The younger generation understands it better than my generation. Block chain is awesome technology. I also use cloud mining for some Ethereum and Litecoin. No big dollars. Not more than what I could afford to lose. I feel very positive about crypto. The US has actually made a whitepaper for their upcoming new digital dollar. China already has theirs for the Yen. To say it is dead shows complete lack of knowledge about it. Have a good day people.

Hi there. I just moved to lovely PR from California a few days ago. I am here in part to take advantage of the tax benefits for crypto currency. Do any of you have any insights on this?

The base of a ponzi scheme is that an initial, small group makes a lot of money from promising a large group that the scheme scales endlessly.

Bitcoin has a *finite* amount of coins.

It's not the standard ponzi scheme in the sense that it tries to scale exponentially, but it shares the inner logic, that the tail end of many many people who "invest" into it will get less than nothing from it.

A lot of smart money is going into bitcoin. I've been trading and investing in it for years. I made a lot of money just up to last year, then it exploded (2020). The price of a coin went from $6,000 at its low point last year, up to some $28,000 each by end of year. Overnight it just shot up again from $29,000 yesterday to more than $31,000 each this morning. It was just a few dollars when I got in.

It will likely be over $100,000 by end of year or sometime in the not too distant future. Where it will end up in 5 or 10 years, nobody knows. Maybe a million. I'm kind of dizzy at the present price, its hard to believe.

But yeah, bitcoin has a lot of advantages over cash, over fiat in general. The crooked lying governments can't just keep printing up boatloads of paper with nothing behind it like they've been doing for years and years.

You can send payment to someone anywhere in the world or even to outer space without going through a bank or greedy service like money gram or wu. No one knows you sent it, or to whom or what it was for. No one can tell you you are forbidden to send to that country or that person/company. Its also anonymous though you need to do something after you buy it to clean it up and make it anon if you bought from an online service

Jump in, the water is fine

I am surprised this topic is even on this platform.; But yes I have known of btc for many years now. 2014 to be exact when I discovered it. And I am a very skeptical sort of traditional type of dude but when I found this stuff I had to get my head wrapped around it and especially before I spent even 1-5 bucks on it.
You see a buddy of mine introduced it to me as this:
It is a crypto currency or in other words virtual currency.
Ok so this right here above is what flipped m,e out because as I told him these two words do not belong together nor should they be utilized in the same sentence, "virtual" and "currency" just seem to clash when placed together so this I had to research and I did for over a little more than 3 months before I had enough understanding that I could purchase safely,. store it or utilize it or trade or just whatever I determined to do with it I felt confident. I told all of my family of it and friends. I had even tried to get my brother on board who at the particular time was purchasing Iraqi Dinar for the price of .86 cents/thousand Dinar. he thought he would become rich. Mind you he spent 4500.00 on dinar and BTC was priced at $450.00/coin. I have loved it since I found it, I trust in the platform of technology totally but some of the coins produced today are far from attractive but I must say the ones you can make good profit in short time are the pump n dumps coming up on ICO and you gotta watchem close and get in and out fast and waste no time with the out part since the dump is coming shortly.




Yes Yes Yes, I know a lot of this platform and many others that you speak of here. Oh and miners back in the beginning who were getting 500BTC/block completion and they completed x amount of blocks/day, well those guys are the mega billionaires of the world now but hidden I am sure cause with 10's of 1000's of BTC stored up in your wallet of your mining software or actually a cold wallet and collecting these 1000's BTC day after day you can imagine the sheer utterly rich people who it has made when they were only worth a penny each but now 60K. and it is going higher folks I assure you all. It one day may filter off to no longer sustain a value in currency but the platform will still be utilized after this. But it will not be in any of our lifetimes but in the future. For in the future I see no currency at all. there will be no need for it. every person (if we do not kill oursleves off first) will be equal and be alloted so much for their way of life to maintain a nice comfy life but with out any bills or need for funding. but that is in the future which is probably hard for a lot to comprehend..



My bro BTW if had invested his 4500 then would be 600K valued now where with his investment he has lost almost .20/thousand. but like he says it is real, he can feel it and see it. just cant spend it untill he sells it back for a loss of around a thougsand bucks!

I have been investing in Cryptocurrency for a while, it goes up and down very quickly so you need to be prepared for big gains or losses on the short term. But on the long run I believe that it's gonna gain more momentum and may become more and more recognized especially for online trading.

i got 50 free dollars from block chain a while ago...at least i think i did...i did have to verify myself with my driver i.d. now i wonder if i was scammed...

@ Acquired Taste,
if it was a blockchain ewallet and not some knockoff impersonation you can trust you wasnt scammed. If they had an in wallet verification or a link that you had to open to utilize their portal then it was blockchain and the $50 should be there in your wallet after they identity is verified and confirmed to be you. If it isnt just send a ticket to support or if you have a online hot wallet then they have a chat window in that now , just hit em up and they will straighten it out I am sure

I'm still kicking myself for not buying bitcoin at $0.25 a coin back in 2010.

As far as I see it, Bitcoin will never hit the cap or be worth investing long-term in until nations who actually have seriously bad inflation problems use it. People who are investing long-term are essentially gambling that people in Africa will use it. Until [if] that happens, it won't really be worth touching. The market is built on "fake value" if that makes sense.

On top of that, once companies and governments get involved, which they now are, the entire purpose of it up front is made-up folly. "Non-Regulated Currency" has never actually existed as it will always be regulated by who has the most of it.

As someone else said, use it like you're day trading until the trend finally dies. I earned 80 bucks off of it a few months back - not traditional bitcoin mind you, other blockchains.

I read that Ecuador just approved bitcoin as a country currency option as well as square and a few other companies are working on projects that integrate bitcoin into their businesses. Now what has me worried about this so called money option isn't the ponzi scheme threat it's the technology might get outdated causing it's collapse.

Lets see, if you bought one US dollars worth of bitcoin a month ago, and cashed out say, today, you would have gained- .000016, of a cent. I'd say, keep looking down, and pick up every penny you'd see laying on the street. You'd be money ahead- by a great deal.

You may want to reconsider your math, if you bought a Bitcoin at $32k a month ago and sold it today at $49k you would be up $17k minus taxes and fees, but it's like the casino, most people don't leave while they are still ahead. Buying a dollar worth of Bitcoin is like buying a dollar worth of cocaine, it ain't going to do much for you. The old-timers used to call a quarter 2 bits, that means you would get 8 bits for a dollar, or a bit would be worth 12,5 cents which is about what a Bitcoin should really be worth, but it's a pyramid scheme and they have enough people to believe in it to drive the price til the smart people pull out and move on to the next pyramid.

I noticed bitcoin hit 50k today.