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Two things. One - People already do this with applepay and other methods. Two - there are more things you can do with it and more importantly when investing it matters if the idea is plausible enough to catch on and have others want it.
Admittedly when I first invested in bitcoin I did so because at a minimum I knew the idea would catch on and it would be in demand. Now I know more about the underlying technology and it's uses. Consequently I stay in for those reasons.
"Going long" has lots of meanings to different people. It might be simply not day trading or swing trading but getting in at a certain price and getting out after a particular gain is achieved. It may be holding for months or years rather than minutes to some. Sure there is a technical definition of assuming the price will go up and holding for "say a year or longer".
That's not necessarily dumb. It's just a strategy that may be different From your strategy (day trading or not investing at all).
Peace
Clarification. When I say those who are still green I am referring to those who are playing with house money and still have unrealized gains despite the slump. Sorry for confusion. But yes newbies need advice I just wish I would see those with negative views and no added value would show up and congratulate people on positive days and not just show up on bad days.
I don't know that people are boasting. Lots of folks that have been here a few months or years in my case have reaped some nice rewards and that's why they are staying put despite the slump in price the past month. Because of the cash dividends received people are just a bit more tolerant. When "strangers" come to the board talking trash and teasing longs it causes those who are still green or have a longer perspective to try to point it why they are still long.
Ughhhh. The $113 was a cash dividend. He keeps the stocks and pockets $113 per share. The decrease in stock price is an unrealized loss. The $113 per share was realized. As different as night and day.
That's a point I made earlier. He probably doesn't get on a computer. Nothing wrong with his philosophy. But he also shouldn't comment on things he doesn't understand lol.
Same as did any stock. For ever seller who thinks it's a bad idea there's a buyer that thinks it's a great idea. Someone just posted about warren buffet. His philosophy is but when others are selling and sell when others are buying. Go figure?!?!?!
Not every one here is following the same playbook.
On a separate note I still wonder why people celebrate others loosing money and they don't even have any skin In the game. Not accusing you of this just making a statement
https://www.google.com/amp/mobile.reuters.com/article/amp/idUSKBN1FL57N
Amazing that Facebook not posting ads would hurt bitcoin. Facebooks
action was intended to stop all the scams out there not speak to the legitimacy of bitcoin and cryptocurrency in general. Just goes to show any negative industry news hurts bitcoin. No offense to Facebook but crypto doesn't need Facebook advertising to spread the word.
Yes that's the article. They don't recognize it as legal tender but still embrace blockchain ( go figure).
India was a country that bitcoin supporters likely wanted to officially adopt as a currency but if you do some research you find that Indias government is totally manipulating their own currency (exactly what bitcoin is designed to prevent). They removed a lot of smaller denominations last year and its crushing the population and economy. People there had turned to bitcoin which undermined the governments recent action. Thus it's no surprise they are taking a formal stance now. Bitcoin is on everyone's lips now. India can't destroy bitcoin since India never really officially embraced bitcoin as a currency to begin with(same with Venezuela).
That's like me quitting a job at a store that I don't work for! LoL.
Again it's bad news and will temporarily hurt bitcoin but those in the know understand the real
"Impact".
I respect buffet and others who have obviously made it big, but statements like that don't hold water with me. At the end of the day it's a 50/50 proposition if something will hit or miss. Simply saying it will fail is not profound. I'd be more impressed if he could tell me why and more importantly when it will fail! Mark Cuban another billionaire is onboard with it. The difference between opinions could be understanding of crypto and/or generational. Buffet probably seldom logs on to a computer and Cuban likely has Twitter/Facebook and Instagram accounts.
Also people heavily invested in banks, stocks and financial services absolutely are biased since any capital invested in crypto means capital not invested in traditional stocks. What I am amazed is how short sited they are. Profits or part of profits earned in crypto will almost undoubtedly make its way back into the traditional financial market. People making money is good for the economy and financial services industry.
Finally I don't see blockchain going away anytime soon. Noice that ethereum is doing well during this recent slump. Until bitcoin can be separated from blockchain in people's mind and in practice bitcoin will survive. Once bitcoin solves the scaling and fee issue it too will be here to stay as it will be tethered to blockchain in most people's mind.
Again my opinion.
Saw that. Until the sec figures out how to make money on ico's they be under heavy scrutiny. Unfortunately any negative news in the crypto industry instantly hurts bitcoin even if it's not technically affecting bitcoin. Conversely, The only thing that moves bitcoin up are things that directly impact bitcoin. It's not fair but that's the way it is unfortunately.
Tired of that crap too. Gbtc is suppose to return a premiums similar to bitcoin. I Read that for a particular period bitcoins return was like 1550% and gbtc was 1600%. Can remember the exact number but the difference was less than 50%. That amounts to gbtc return was about 3% higher than Bitcoin if that makes any sense (percent of a percent).
People insist on trying to track the "premium" day to day. Honestly I don't think it works that way but if people want to do it great. I think it matters what the "premium" is over a particular period as determined by how much did gbtc earn compared to bitcoin
January isn't kind to bitcoin historically. But other things in play as well.
https://www.google.com/amp/s/www.cnbc.com/amp/2018/01/31/bitcoin-is-heading-for-its-biggest-monthly-decline-since-january-2015.html
Everyone has their own strategy. Personally I know I'm not smart enough to time a bounce. I invested in bitcoin and gbtc because of the idea. I remain invested due to the idea. Charist like to follow technicals. No one way is best. Different folks, different strokes! There's a enough money to go around. ??
News misinterprets indias position on Cypto.
https://cointelegraph.com/news/india-bitcoin-prices-drop-as-media-misinterprets-govts-regulation-speech
Maybe. But the worse predication I've read is a low or 5-7k with a rebound to 10-15k. The same article Also notes those people attempting to "buy the dips" will get burned royally in the process. I would suggest just like with any stock you pick your price point desired, get in, and wait out the ride. Take it from someone that's been in this stock for almost 2 years now. You don't want to chase this rabbit once it gets going.
Can we please stop with all of the dilution theories. Everyone knows the share structure and understands that A-N-Y firm "can" issue shares up to the authorized amount. That is nothing new and some accounting textbooks and almost every instructor defines A/S as "a very big number". GBTC isn't a typical company with typical expenses and no business model to generate funds to cover expenses. It's a trust fund. It's value is derived from the value of bitcoin(supply and demand). It periodically sells bitcoins to cover fund expenses. The parent company would be incredibly stupid to tank gbtc when it has yet to release its ethereum and zcash funds to the public yet. GBTC has already resulted in thousands of dollars being paid out to its shareholders in the form of cash dividends as a result of bitcoin forks. People invested here are willing to step out on some faith here and stand with the firm a while longer. I understand that some people genuinely want to educate folks but repeating the same thing over and over and over comes across as disingenuous and will likely result in people doing just the opposite.
SO YES A FIRM (I.e., Apple, Ford, GM, GBTC) CAN ISSUE SHARES UP TO THE A\S amount in theory but they don't typically do it.
Can we please move on from this particular discussion?
https://www.cnbc.com/2018/01/30/facebook-ban-on-bitcoin-ads-latest-in-very-bad-day-for-cryptocurrencies.html
Oddly none of this directly impacts bitcoin or gbtc. Facebook???? Really. But it's an industry effect. Another day in crypto land lol. No biggie.
It happens. Misery loves company I like to say. It's not like they are shorting the stock and making money. Just happy to see some temporarily loose money. The go dark when bitcoin and gbtc goes up. Don't worry about them and don't let them change your opinion or position. Know what you invest in.
Did you miss that small run to $19,000 in the middle of December? That was the world just being exposed to bitcoin and futures markets coming on line.
By the way futures are long and bullish by a 2:1 margin. If you own gbtc. Just be patient and have realistic expectations. This isn't some sub penny stock with suspect leadership. If you're thinking of investing invest no more than your willing to loose (same as any investment). Pick your entry point and wait patiently and positively.
Yeah a split occurred. It's all good.
Only 7%. Shoot that's a Years annuak return fornmost people's 401k. LoL
Someone posted it not until the first of feb for E*TRADE. Not sure if that's accurate but E*TRADE does seem to go slower than the others
We should temper our expectations and emotions here. This is going to take time. When this stock hit the market it took a long time before it got up into the hundred and thousands.
I think some people think gbtc will simple shoot back up and retrace it's precious path. If we don't have the right expectations, people will be greatly disappointed and panic and ten sell before they have a chance to earn some really good returns.
Keep in mind that gbtc is simple meant to provide the same "returns" as bitcoin. It will go as bitcoin goes. Bitcoin is predicted to go $60k. That's gonna take time if that happens. We need to be patient. Gbtc is stable and slowing increasing today. That's a great sign in my book. I know some expected his to crash or fall.
Remember a steady slow drip of water still fills the bathtub!
Patience and understanding how this process will go is what's needed. Be ready to hold this stock for months not days. You'll be rewarded.
Stock split. All good. Don't panic.
No but I think the longs (myself included) are anxiously awaiting the next phase of gbtc.
Is this nervousness around here? Ha ha. Anxious and good times ahead I hope ?? .
I'm really anxious to see how the new price will move (ticks and volatility).
Not good News but news. Explains the recent dip. India was one of the countries where people really embraced bitcoin. Their government has been tinkering with their currency and pellets turned to bitcoin. India never fully embraced bitcoin so the pull back should be temporary.
https://www.google.com/amp/s/www.express.co.uk/finance/city/907786/bitcoin-price-india-cryptocurrency-trading-btc-exchange/amp
Yes it will be interesting . I was around when this stock came to market and the swings were pretty volatile back the ... $42 one week and $62 the next week and the Back to $42 the following week. I'm
Curious to see what the "ticks" look like once it goes back to around $20.
Could go back down again before it really goes up so don't be surprised. Once bitcoin goes above 13.5k that should make the new floor.
Crypto in general apparel to be slowly but steadily recovering. People will be cautious today (slight sell off possible due to weekend) as no one knows what the weekend will bring. Next week should mark the start of consistent gains
Bitcoin always seems to rally. Just a matter of when and how strong.
The technical bottom is a little over $8k. But I'm thinking it will pick back up. People forget that nov/dec Saw the number of new investors go ballistic. Those people who jumped on the bandwagon are jumping off in a panic. I understand it as most likely didn't know what they were getting into. Those gbtc people who are really long (got into between $100-1000) are holding strong. Those that got in later and lost are now watching for a reentry point. A new price will bring in a plethora of new investors. Now coins will also continue to be developed and most of those require bitcoin to trade. The biggest move of bitcoin is yet to come. What will be interesting is how gbtc moves at the new price.
Since 2016, there have been 6 drops of 25%. Just another day in cryptoland.
https://www.google.com/amp/s/www.cnbc.com/amp/2018/01/17/newbie-bitcoin-day-traders-are-going-to-get-slaughtered-says-blockchain-entrepreneur.html
Yeah. I've noticed that gbtc hasn't dropped in price along with bitcoin. Technically it never did but the past few days have been interesting. Bitcoin should stabilize (no matter what you think the price will be) just about the same time as the new stock price goes into affect. That should mean immediate take off from the $17-20 per share price.
That could be associated with the impending split ????
Well said. I know a lot of people are hoping the daily hundred dollar price swings continue but it's just not likely. I feel like a $5 move will be monumental! Don't get wrong I would love a day when it moves a hundred or so but it's gonna take a whole lot of bitcoin movement to make that happen.
Possible and probable are very different. I'd love to see it but I'm not that optimistic for a one day return of 500%. I'd be very happy with a $5 run up. LoL
https://www.google.com/amp/www.dailymail.co.uk/news/article-5265605/amp/Bitcoin-investors-face-BANNED-using-gains.html
Oddly it's makes stock funds more appealing than coins if other countries and places follow suit
Anything is possible but with the increase of shares theoretically the deviations or swings "should" be much smaller in scaled. However with bitcoin one never knows. I won't be surprised either way. When this stock was in the 40's the swings were just as crazy from a "percentage" perspective. However for this to get back to $3500 bitcoin has to go well over a million-"theoretically"
! it It's going to be interesting and could be a wild ride.
Everyone Is Getting Hilariously Rich and You’re Not - The New York Times
https://apple.news/AHtMIbpIwS1WHJ1pBrk5vEA
It will consist of flippers and swing traders.