Not one person I've discussed bitcoin over the years bought any...

johnarb said:
Do I think it's good for purchasing pizza? No. Do I think it's good for purchase of a car or a house? Yes. Store of value.
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Store of value and purchasing a car or house has nothing to do with each other... unless you're saving up for it to buy it in cash/bitcoin? So it's a savings account? But not really, since it's very volatile... and your idea that it's a good store of value leans on your prediction it's only going up in value... but I don't understand your reasons for it going up in value.

johnarb said:
Get over the other coins. Anyone can make a coin. You can fork bitcoin and create JackOffCoin tomorrow. That's how Litecoin was started literally overnight. Now getting someone to pay you $4K per coin? How you going to do that?
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That's exactly what I mean... Litecoin is worth 5% of Bitcoin at the moment... out of thin air... more than 3bln dollars worth...
 
johnarb said:
I'm very sorry to hear that. Fortunes are still being made, though, and baggerlord and Visaria have the right idea to start researching some promising cryptos, who knows? Ethereum, Neo, Ripple and others have 10's of thousands of percent returns. I never invested in those so can't speak for them.

Monero (xmr) is one of my core holdings, the coin mentioned in the imgur link on the OP. I'm fully aware that a huge part of my successes in trading cryptos is because of the adage "bull market makes everyone a genius" and all my holdings can go to zero, but such is life, it's a risk.

Monero is a privacy coin so can't discuss my cost basis :) but I can tell you I suck at timing. Monero was trading for months between $0.25 to $0.50 in 2014 (currently priced at near ATH $137'sh) so $500 worth would be worth $137,000 to $274,000 now. I heard of it when it was around $1.50 as I was invested in Darkcoin (now called Dash) and we were getting trolled on the forums by a Monero supporter, but funny thing was when I looked at the arguments, they were all valid so I bought a couple of hundred coins, only to sell within a couple of months as it wasn't doing anything.

I got into Monero when big news about adoption in October and my last batch/buy was ATH at the time. Holding cryptos is easy? Monero was down 60% within 2 months from ATH. I got a windfall from another coin a month ago and put a bunch of the profits to Monero. I suck at trading, so guess what? 30% down from the high price within a couple of weeks and NEO is pumping over 100% on certain days. It was difficult watching your coin down that much and not sell to jump to NEO or some other pump coins. I did hold. Now all good.

Monero at $1.50 was fairly valued. At the current price in this environment, $137 price per Monero is a discount. Can't expand on that without talking my book, so leave it at that.
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Great story bro, I really appreciate that. Unfortunately I feel that bullish momentum over cryptocurrencies is running out of steam, because an appeal of this speculative game became costlier (bubble size stabilizes), while this appeal shrinks directly proportional to the price surge.

The bubble won't blow out as those unlucky missed the time of buying BTC cheap but handing out a prophecy of major crash should know that China Miners put a lot of $ and now work as liquidity providers. They spent too much on infrastructure to jump out the game. Bitcoin is a stable but little-promising investment because there is no cashflows, no government acceptance (and won't be in future). It's not a good that can be consumed. I barely see any means of valuation of this "asset". Corruption, drugs, money laundering etc.

There are also technical major disadvantages like speed, database size etc.

So yes now the eye is on promising but cheap coins that may shoot up. But all this buzz about revolution that caused blockchain. I don't believe it at all.
 
Hmmm. How would this rhetorical scenario affect the value of bitcoin?

There's a crazy car dealer out there who sells a $20,000USD car to someone, and says "I will sell you this car for 1 bitcoin".

Does that then mean that 1 bitcoin is then worth $20,000USD? Would that cause the price of bitcoin to spike to high-heaven?
 
To be honest, I cannot buy bitcoin at the current price. It's easy for me to forget that I have significant gains and can make crazy bets on positions that I would not dare make if it was coming out of my savings.

Good luck to everyone who take part on this bull market that is crypto but also beware of the risks that that it can crash at anytime.
 
When people realise there error and start trying to jump on late, then the big boys are advertising it to be able to sell.

None trading mate bought some, no idea on how many, few years back I'll message him see if he's retiring, sure didn't seem happy when I last saw him.
 
johnarb said:
Zero. I still discuss when someone asks me a question or trying to understand, but I know the person will not buy. I don't consider it a waste of time, it's just the way it is.

I'm not alone.

imgur.com/a/E9CAY


.
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I bought it in 2011, and I sold for a substantial gain not long after.
My position would be worth around 88 million at today's prices.

Worst trade I ever made.
 
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