Bitcoin and other Cryptocurrencies

[Johnny 007]

I hope this doesn't violate any forum rules.

Anyone following the cryptocurrencies? I first read about Bitcoin a few years ago, but I guess I didn't really stop to think about the implications. Anyway, fast forward to the last month or so and things have gotten crazy. I bought some Bitcoin, Etherium, and Litecoin a month ago and I'm up over 100%. In one month. I've had that happen with stocks before, but still, what's the limit? These aren't stocks. The market cap is still minuscule, Bitcoin is now legal tender in Japan, and I guess it's a big deal in Korea. China and Russia are working on regulations. Anonymous money that you can carry around in your pocket.

 

[usedto]

I have to pay my quarterly estimated tax to the IRS in a few weeks. I'll call them and see if they'll accept bitcoins.

 

[Johnny 007]

I have to pay my quarterly estimated tax to the IRS in a few weeks. I'll call them and see if they'll accept bitcoins.

You know they won't. Still, it's easy enough to change Bitcoins back into US dollars. I guess the whole concept is a bigger deal in Asia. Anyway, I think it's all very interesting. Decentralized money.

 

[4-2-7]

Well with the news I heard today I wish I was buying bitcoin in 2011. I was buying silver and on sites that kinda cater to getting your money out of government fiat currency bitcoin was just starting. But the though of having physical precious metals for the fact it has intrinsic value, opposed to holding fiat currency. Bitcoin to me felt the same as a fiat currency, it could be taken away with a push of a button.

However had I known that if I bought $100 worth of Bitcoin in 2011 and at the time that was 3oz of silver. The silver today is around $60 and the same $100 if I bought bitcoin would be worth 70 million dollars. I think I should have taken my chances even though at the time there wasn't many places to spend it.

 

[Alobar]

Bitcoin are what those ransom ware creators want to be paid in to unlock your files. .

 

[Hajidub]

Well with the news I heard today I wish I was buying bitcoin in 2011. I was buying silver and on sites that kinda cater to getting your money out of government fiat currency bitcoin was just starting. But the though of having physical precious metals for the fact it has intrinsic value, opposed to holding fiat currency. Bitcoin to me felt the same as a fiat currency, it could be taken away with a push of a button.

However had I known that if I bought $100 worth of Bitcoin in 2011 and at the time that was 3oz of silver. The silver today is around $60 and the same $100 if I bought bitcoin would be worth 70 million dollars. I think I should have taken my chances even though at the time there wasn't many places to spend it.

4-2, when it first introduced they sold for 10 cents per coin. I imagine early retirement if I would have!

 

[Omegaman]

I found these in a small bag in a parking lot

I thought I really had something


yeah...no