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OILERMAN   

If it goes more mainstream then someone will take over the market that isn't currently doing it yet. 

 

 

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If you currently have bitcoin, please find a way to liquidate it asap. This has nearly all of the signs of a bubble that is ripe to burst. I'm not saying that Bitcoin is a scam or that it's worthless or that it will ever be worthless. But, I am saying that the value that it has now is unsustainable and that you should be the pig and not the hog in this scenario.

 

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Investors are desperate to find anything they can invest in to make money. There’s only so much they can pile into the stock market. There’s no new tech bubble with IPOs left and right for common investors to throw money at. Real estate isn’t tapped out, but there’s only so much growth it can sustain, too. Commmodities aren’t a big mover now.

 

The new fad is crypto currencies. I don’t know if it will all end up like tulip bulbs, but most of these currencies aren’t going to go anywhere in the long run. Maybe a handful will do well, but they could all collapse.

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49 minutes ago, Starkiller said:

Investors are desperate to find anything they can invest in to make money. There’s only so much they can pile into the stock market. There’s no new tech bubble with IPOs left and right for common investors to throw money at. Real estate isn’t tapped out, but there’s only so much growth it can sustain, too. Commmodities aren’t a big mover now.

 

The new fad is crypto currencies. I don’t know if it will all end up like tulip bulbs, but most of these currencies aren’t going to go anywhere in the long run. Maybe a handful will do well, but they could all collapse.

The bolded is the truth with this (and every investment fad.) It's a game of hot potato and you don't want to be the dipshit holding it when time's up. I don't think that it will be as bad as tulip bulbs in that I believe that certain cryptocurrencies like Bitcoin will retain some legitimate value. They just won't be able to sustain the insane value that it currently holds. Liquidation has always been the biggest problem with cryptocurrencies, so if you have an avenue that can convert your valuable virtual currency into physical cash, do it ASAP. The bottom is going to fall out and it will be really ugly for a while (especially right after the bubble bursts when everyone is panicking and trying to unload their shit.)

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Bitcoin is the only one that will stick around for a long time IMO. It's been around for nearly a decade now, and yes it's finally becoming more mainstream(becoming a fad) but I think that will only help it grow. I bet BTC will hit 10k before the bubble starts to burst and it balances out in a few weeks. There is a Hard Fork happening around the 16th of this month and that's when a lot of people are planning to sell. I think after all is said and done it will be around 5k

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OzTitan   
10 hours ago, IsntLifeFunny said:

Blockchain is the future of all technology. Crypto currency is more than a fad, but its actual data processing and storage is the wave of the future. I’m investing in all companies who are investing in blockchain. 

Where it makes sense it is, i.e. as a cryptographically provable ledger. But it's being overblown for general purpose stuff. "Can we add a blockchain to it?" is already a joke/meme in the tech world and it's fast becoming a snake oil/marketing term targeting unsuspecting execs who don't know what it is.

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5 hours ago, OzTitan said:

Where it makes sense it is, i.e. as a cryptographically provable ledger. But it's being overblown for general purpose stuff. "Can we add a blockchain to it?" is already a joke/meme in the tech world and it's fast becoming a snake oil/marketing term targeting unsuspecting execs who don't know what it is.

Yep. That doesn’t mean it won’t revolutionize the way we store all records. 

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Number9   

I think I put something  about this in the poker thread.  Bitcoin is the main currency exchange for online poker.  I don't invest in it, I sell it as soon as I get it.  I got about 20K during the WSOP.  I sold most all of it individuals, but deposited $3800. into my checking account.  It was the day before the fork, BTC 2750?.  It's $7300 now.  Short story.

 

I never got my $3800.  Coinbase who I used had no phone number and still has no email address.  Weeks and weeks of trying to contact them on FB and Twitter support sites, nothing.  They finally released a phone number.  Call.  Wait 30 mins on hold, then "we're sorry, but we can't get to your call in a timely manner.  Please call back later."  This happen several times, until finally I got an agent.  "Oh!  We'll put you on our priority list."  I was told that about four times.  Then they finally said they sent it to my bank.  I had my broker write a letter saying Chase has no record of a deposit.  Not good enough.  I had my broker call them twice, always some kind of run around.  

 

I asked them to produce a tracking number.  "no can do.  you have to have a letter from Chase."  I finally turned it over to the https://www.consumerfinance.gov a protection bureau set up for citizens.  Yes, they've heard of Coinbase.  Others have too.

 

https://www.coindesk.com/report-customer-complaints-coinbase-rise/

 

https://99bitcoins.com/coinbase-review-6-controversial-issues/

 

I could fill the page.  Buying btc, no problem.  Using btc to make purchases, no problem.  CONVERTING btc into CASH.  BIG PROBLEM

 

They just owe me $3800.  The coin I sold is no worth over 10K.  

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10 minutes ago, Number9 said:

I think I put something  about this in the poker thread.  Bitcoin is the main currency exchange for online poker.  I don't invest in it, I sell it as soon as I get it.  I got about 20K during the WSOP.  I sold most all of it individuals, but deposited $3800. into my checking account.  It was the day before the fork, BTC 2750?.  It's $7300 now.  Short story.

 

I never got my $3800.  Coinbase who I used had no phone number and still has no email address.  Weeks and weeks of trying to contact them on FB and Twitter support sites, nothing.  They finally released a phone number.  Call.  Wait 30 mins on hold, then "we're sorry, but we can't get to your call in a timely manner.  Please call back later."  This happen several times, until finally I got an agent.  "Oh!  We'll put you on our priority list."  I was told that about four times.  Then they finally said they sent it to my bank.  I had my broker write a letter saying Chase has no record of a deposit.  Not good enough.  I had my broker call them twice, always some kind of run around.  

 

I asked them to produce a tracking number.  "no can do.  you have to have a letter from Chase."  I finally turned it over to the https://www.consumerfinance.gov a protection bureau set up for citizens.  Yes, they've heard of Coinbase.  Others have too.

 

https://www.coindesk.com/report-customer-complaints-coinbase-rise/

 

https://99bitcoins.com/coinbase-review-6-controversial-issues/

 

I could fill the page.  Buying btc, no problem.  Using btc to make purchases, no problem.  CONVERTING btc into CASH.  BIG PROBLEM

 

They just owe me $3800.  The coin I sold is no worth over 10K.  

Fuck coinbase. They are one of the worst and are partially responsible for the fork happening in a few weeks. A lot of venders are stopping accepting payments from them. If you are getting large amounts of coin I suggest a hardware wallet. Or breadwallet. Bet way to convert BTC into cash is through the ATMs 

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Number9   
1 minute ago, heyitsmeallen said:

Fuck coinbase. They are one of the worst and are partially responsible for the fork happening in a few weeks. A lot of venders are stopping accepting payments from them. If you are getting large amounts of coin I suggest a hardware wallet. Or breadwallet. 

At the time Coinbase was the largest CC exchange in the market.  I admire your ability to know who is good or bad, but it's ridiculous to have to worry about that when dealing with currency.  What is I got treated like this by Wacovia Bank and someone said they could have told me about them.  I have been dealing in btc for almost two years.  Anyone of these exchanges could do the same thing and consumers really don't have any protection.  It's a crazy way to handle money.

 

Top Crypto Exchanges

https://blockgeeks.com/guides/best-cryptocurrency-exchanges/

 

Coinbase 

Backed by trusted investors and used by millions of customers globally, Coinbase is one of the most popular and well-known brokers and trading platforms in the world. The Coinbase platform makes it easy to securely buy, use, store and trade digital currency. Users can purchase bitcoins, Ether and now Litecoin from Coinbase through a digital walletavailable on Android & iPhone or through trading with other users on the company’s Global Digital Asset Exchange (GDAX) subsidiary. GDAX currently operates in the US, Europe, UK, Canada, Australia, and Singapore. GDAX does not currently charge any transfer fees for moving funds between your Coinbase account and GDAX account. For now, the selection of tradable currencies will, however, depend on the country you live in. Check out the Coinbase FAQ and GDAX FAQ

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