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 Post subject: Digital Tulips
PostPosted: Wed Jun 21, 2017 11:05 pm 
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So does anyone dabble in cryptocurrency? I'm very late to the game (didn't get in until end of May), but I've been investing more and more over the last few weeks (to my wife's horror). I started in Bitcoin and Etheruem, and today I started a position in Litecoin. I'm well aware that I could lose it all in a blink, but I could never resist a good gamble.

Some fun stats:

If you invested $1000 in Bitcoin a year ago, it would be worth $4,213 today
If you invested $1000 in Bitcoin in 2013, it would be worth $193,000 today
If you invested $1000 in Bitcoin in 2010, it would be worth $262,000,000 today :shock:
If you invested $1000 in Ethereum just 3 months ago, it would be worth $19,225 today
If you invested $1000 in Ethereum in 2015, it would be worth $748,960 today

So yeah, I'm late. :) But hey, you can't get returns like that in the stock market (without some crazy options plays).

Then again, this is scary stuff. I bought in on Bitcoin at $2225.88, and ETH at $231.05, and within two weeks Bitcoin hit $3000 and ETH hit $400. Then there was a huge crash, before both started going back up again. Then just today ETH had a flash crash, falling to 10c (yes 10 cents) before jumping back up to $300 in the space of seconds (some lucky bastard got the deal of a lifetime). http://www.businessinsider.com/ethereum-price-flash-crash-2017-6

I also starting cloud mining Bitcoin and ETH. That seems to have less risk, but it can take 6 months or longer to make a profit. Unless of course the value sky rockets again...

Anyone else dabbling/investing? Or even have a mining rig setup at home?


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 Post subject: Re: Digital Tulips
PostPosted: Wed Nov 29, 2017 9:45 am 
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I bought in on Bitcoin at $2225.88, and ETH at $231.05

Bitcoin just passed $11,000... I sold half my stake on Monday at about $9800, should have waited. Ethereum at $513, Litecoin at $103. Only wish my wife had let me put more in...

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 Post subject: Re: Digital Tulips
PostPosted: Fri Dec 01, 2017 8:26 pm 
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Grieve wrote:
Only wish my wife had let me put more in...
Pretty much the story of my life ;)

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 Post subject: Re: Digital Tulips
PostPosted: Thu Dec 07, 2017 1:03 pm 
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Bitcoin hit $19,000 a few minutes ago...despite all my years investing, I’ve never seen anything like this. :shock: I’ve sold a good chunk over the last few days, but holding onto some in case it pushes higher. Not doing much work, just hitting refresh on Coinbase. :D

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 Post subject: Re: Digital Tulips
PostPosted: Thu Dec 07, 2017 6:26 pm 
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Why is it going up? Almost doubling in less than 2 weeks... there has to be a reason.

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 Post subject: Re: Digital Tulips
PostPosted: Thu Dec 07, 2017 9:08 pm 
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As the post said.. It is digital Tulips.

https://www.investopedia.com/terms/t/tulipmania.asp

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 Post subject: Re: Digital Tulips
PostPosted: Thu Dec 07, 2017 11:32 pm 
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Most of it is a mad rush of people desperate to get in the action. And most of them are from China, South Korea and Japan.

But...right now it’s shooting up because futures trading starts this weekend, and that will in some ways “legitimize” it. Plus at a basic level it’s a simple fact that there can only ever be a certain number of bitcoin (21 million), most of which are already in circulation, so more demand for a finite supply drives up demand. Unlike fiat currency where they just print more.

It will probably come back down to earth next week (if not sooner) when traders can actually short it. But plenty of people (including me) think it will get to $100,000 or even $1 million a coin eventually. It may just crash down to $1000 (or less) a few times first.

You don’t actually have to buy a whole coin for $16k. You can spend $1000 or $100 on a fraction of a coin, and hope it goes up 10X.

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