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1 hour ago, CharlieK said:

Whatever you say. I'd rather hold BTC than use paypal (never have) and BTC is worth more than an iphone costs.

Yes, but the total number of Bitcoin users includes everyone that every put $0.01 into Bitcoin.  

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Here are 2 recent videos of how Bitcoin is being talked about in the mainstream media by known investment firm manager, for those who still entertain the idea that bitcoin is a scam or a fraud.

 

I do not watch mainstream media, this is only to make a point against the many misleading statements about bitcoin in this thread.

 

 

 

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On 2/22/2020 at 8:17 PM, freeman01 said:

Well the value of bitcoin is derived from its fundamental properties :

- open source

- decentralized

- censorship-resistant

- borderless

- peer to peer

 

Bitcoin literally cannot be stopped or controlled by anyone or any government, and everyone can use it without any discrimination whatsoever.

it takes 12 to 24 words to memorize to secure your bitcoin account and you can cross any border with your bitcoin without being stolen by anyone, try to do that with cash or gold or anything else ...

 

Bitcoin is now 10 years old, with no history of it being hacked, yet it is worth billions so the incentive for hackers is gigantic.

 

Add to that a fix monetary policy, the amount of bitcoin being created is set to be cut in half every 4 years for a total of 24 millions bitcoins maximum in the year 2140.

Opposed to that the US dollars whose money supply keep increasing like candy, guess where this is going ?

 

Do you homerwork and you will see it's a really good investment and so far history did not disappoint if you hold long term.

now is a good time to look at bitcoin fundamental and seriously think about it.

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On 2/23/2020 at 4:08 PM, Tayaout said:

These are the price on 31 October of each year aka bitcoin birthday. 

Screenshot_20200224_071919.jpg

~$8,000 now from the ~$19,000 December 2017

 

Most "investors" exited on the 1st double; perhaps became a 'born again investor" after it doubled a couple of times, only to be holding a $11,111 bitcoin that is worth $8,123

 

Very few of those that "saw the light" held for 2nd or 3rd double.

 

Most holding the bitcoin are licking their wounds or walking around with an open wound.

Not one will admit to be walking with a limp....

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17 minutes ago, mshs said:

~$8,000 now from the ~$19,000 December 2017

 

Most "investors" exited on the 1st double; perhaps became a 'born again investor" after it doubled a couple of times, only to be holding a $11,111 bitcoin that is worth $8,123

 

Very few of those that "saw the light" held for 2nd or 3rd double.

 

Most holding the bitcoin are licking their wounds or walking around with an open wound.

Not one will admit to be walking with a limp....

Many of them bought their Bitcoins when they were alot cheaper and saw their coins rise in value  exceeding quick and they thought that they would be set up for life and millionaires by next year and thats why some people are encouraging others to buy bitcoin

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57 minutes ago, sanemax said:

Many of them bought their Bitcoins when they were alot cheaper and saw their coins rise in value  exceeding quick and they thought that they would be set up for life and millionaires by next year and thats why some people are encouraging others to buy bitcoin

This. Why everyone assume most investors bought their bitcoins in the very short window of time when it went to 20K when the price has been raising for 10 years. When I got in people where saying the same thing about the first parabolic rise to $30. I think those who bought at $30 got into profit by now but they had to wait something like 2 years. If you look at the charts you cant even see the $30 parabolic rise in 2011 and there has been many that led eventually to 20K but they are barely visible. 

 

Personally after all these year I know it doesn't make a price difference if I convince anyone to buy bitcoin so I really don't care (some people even get aggressive when I mention bitcoin so I stopped talking about it with stranger in real life). Even if they bought millions of dollars it wouldn't move the price. People should be smart enough to know if they want to or not. Everytime my friends ask about it I tell them it's risky but there is still potential. Don't invest more than what make your inconfortable, buy a hardware wallet directly from the manufacturer not amazon/eBay and wait. Simple. 

Edited by Tayaout
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14 hours ago, mshs said:

~$8,000 now from the ~$19,000 December 2017

 

Most "investors" exited on the 1st double; perhaps became a 'born again investor" after it doubled a couple of times, only to be holding a $11,111 bitcoin that is worth $8,123

 

Very few of those that "saw the light" held for 2nd or 3rd double.

 

Most holding the bitcoin are licking their wounds or walking around with an open wound.

Not one will admit to be walking with a limp....

You forgot the part where it went from $6,000 to $19,000 in about 5 WEEKS ! from $9,000 to $19,000 in 3 WEEKS !

What kind of moron would buy something that goes parabolic like that ? and not sell on the way down ?

 

Anyone with a working brain cell would not buy during those 5 weeks ... would you ? Everyone else is holding or have sold at a very good profit. We are talking investing here, not playing lottery and buying a ticket on a Sunday because "hey I feel lucky today!".

 

Btw the high of the previous Bitcoin bubble was at $1,000 in December 2013 (again from $130 to $1,000 in 7 weeks), let's say some people did buy at that peak and hold, they are now up about 700% over 6 years, at the worst possible time to buy.

 

In 10 years of existence Bitcoin have seen dozens of bubbles and dip down 40% to 80% and ALWAYS recovered to crazy new highs, guess what's going to happens in the coming years ?

Think about it for a second, a ponzi or whatever scam would never recover after crazy downside like that.

Edited by freeman01
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2 hours ago, freeman01 said:

 

 

In 10 years of existence Bitcoin have seen dozens of bubbles and dip down 40% to 80% and ALWAYS recovered to crazy new highs, guess what's going to happens in the coming years ?

Think about it for a second, a ponzi or whatever scam would never recover after crazy downside like that.

Bitcoin generally rose from its inception , reached a peak a 2017 and has been in decline since then 

cyprus.png

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First bought in 2017 for around 1K usd and made nice money it. Remaining funds I got burned a bit at the peak as I was also actually trading with it and new trading.
Eventually bought again around 4000 last year, sold at double up. Now still doing some low leverage trades making a bit on the side.

So depends if you hold flat or actively trade to have the right timing for buying or selling it. One should at least have some of it imo, people always talk as if you need to buy 1 whole bitcoin while you could also buy in hedge steps, depending on your cashflow 10-20 bucks or 100-200 bucks at the time. 
Apps like Blockfolio allow you to enter your purchase each time + according price, then you will know your averages and exact losses / profits in total.

If you only buy 1000 dollars of bitcoin and it ever hits 100k, you still made 10K yourself. Even if it only doubles from today within 5 years, that is a very fat return yearly.
If bitcoin would magically hit 1 million, even a 100 dollar investment is 10K. Pretty good risk reward scenario if you ask me. 

''People overestimate the short term and underestimate the long term''
 

Edited by ChaiyaTH
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34 minutes ago, sanemax said:

Bitcoin generally rose from its inception , reached a peak a 2017 and has been in decline since then 

cyprus.png

What the picture about ? that's what I was pointing out, Bitcoin has always recovered from that kind of down fall.

 

It took 3 years for Bitcoin to recover that all time high of $1,000 in December 2013, we are 2 years in since December 2017 all time high of $19,000 and we already saw crazy moves up to $14,000 in 2019.

 

If you follow the news a bit on Bitcoin you will only see crazy infrastructure being built with massive investment to satisfy the increasing institutional demand, this is going to explode at one point or another like never before ...

My only wish right now is that the price goes lower to increase my holding.

Edited by freeman01
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3 hours ago, sanemax said:

Bitcoin generally rose from its inception , reached a peak a 2017 and has been in decline since then 

cyprus.png

You don't see all the other parabolic rise on this chart because they are now meaningless. You could have said the same thing at least 3 times in the past. The chart looked almost the same in 2011 after it wents from penny to $30 back to a dollar. It was far from "generally raising from its inception". I don't say history will repeat itself but this chart is skewed. 

 

Apparently the charts doesn't really go to 2011 because of lack of data but here is 2012-2015. It looks even worse than your chart yet its not visible when zooming out. 

 

chart.png

Edited by Tayaout
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  • 9 months later...

So did you invest? This thread aged well ????.

Bitcoin is now trading at all time high.

This means everyone is in profit unless they panicked.

You can buy bitcoin via PayPal in the US.

Institutions are starting to keep part of their cashflow into Bitcoin.

Let that sink in.

Edited by Tayaout
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