39 year old plans to sell everything he owns to buy bitcoin.

Visaria said:
You sound like he put in $10 million. He put in $50k. There are guys here on this forum who make that in a day.
More...
gently put, perspective is a rare quality among posters on ET.
 
Last edited:
Visaria said:
I bet you exactly one bitcoin that you are wrong. Will you take the bet? The bitcoin will need to be transferred in one year's time.
More...

Be sure to specify that the current Bitcoin will be split in at least 2 versions in Nov-2018: the sum of all splits should be above $500 in order to win your bet.
 
Do you mean another 'fork'? I thought that was happening later this month. Also the spin off tends to be a separate coin like bitcoin cash.
 
Visaria said:
Do you mean another 'fork'? I thought that was happening later this month. Also the spin off tends to be a separate coin like bitcoin cash.
More...

In a year time you never know what other hardfork-splits will occur (so with a bet, you should take account of that). For now I see only the November-S2X split.
 
Hoi said:
Be sure to specify that the current Bitcoin will be split in at least 2 versions in Nov-2018: the sum of all splits should be above $500 in order to win your bet.
More...

That is not how it works, unless your bitcoin investments are also valid in both splits. I doubt they will be...
 
Pekelo said:
That is not how it works, unless your bitcoin investments are also valid in both splits. I doubt they will be...
More...

Yes that's exactly how it works! By default your original Bitcoin (before the split) is in both splits. My Bitcoins from 2013 are currently in Bcash and BTC, and will be in S2X as well. I can cash out any of the 3 when/if I want.
 
Last edited:
Hoi said:
Yes that's exactly how it works! By default your original Bitcoin (before the split) is in both splits. My Bitcoins from 2013 are currently in Bcash and BTC, and will be in S2X as well. I can cash out any of the 3 when/if I want.
More...

OK, I stand corrected. Then what is the point of the fork again? Also, are you saying your investment tripled because of the forks? If so, that is not unlimited supply.
 
Pekelo said:
OK, I stand corrected. Then what is the point of the fork again? Also, are you saying your investment tripled because of the forks? If so, that is not unlimited supply.
More...

Point of a fork? Well, to create just another alt-coin with a few different features but in this case no pre-mined start, but a fair distribution among the original investors. Like each alt-coin they have to prove their usefulness in the market (empirical at about 10% - 5% of the original value).
Supply is still limited just the same for each other alt-coin launch. Only the one with the best features will get real value.
 
You must log in or register to reply here.
Back
Top