Anyone end up investing in Bitcoins?

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What are the drivers of demand, other than pure speculation, for bitcoin?

i am reading that it is increasingly being use for remittances across borders. My brother recently had to send a $50k payment to China and it was either wire-transfer or bitcoin. bitcoin was actually the better option but he wasnt set up for it.

i totally understand using it as a gold / cash reserve alternative and i agree it is superior to gold in many technical ways, less so in others.

black market economy is the most popular use for it i assume?

as governments attack the off-shoring (panama and paradise papers) i can see BTC being the next conduit for moving money off shore.

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Speculation and storage of value. We see massive demand in countries like China, Korea, and across Africa and South America where governments have reduced their crashing dollar. We have people wanting to protect and we will see more worry once the markets in the US start teetering. Remittance is huge tho. Sending millions of dollars for a few bucks is a perk. Most people store it now and don’t spend it. Black market will always be there but Bitcoin isn’t as anonymous as people think. There has been other currencies built that offer more built in anonymous transactions that are emerging so it’s slowly using its dominance.

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@bing I def agree with almost all of @boxxa points. Store of value since it can only be mined so much, as well as a currency network for really shitty countries and those wishing to fly under the radar. It’s not huge but it’s definitely making its way to adoption. I see lots of bitcoin places in Europe that take it when I go there.

Ethereum, I like the idea of their smart contracts, and with Ripple, I like the way it is close to Big Banks (even though that’s the reason lots of people go to Bitcoin, because they’re against it), but because they’re close with banks, and adoption is moving quickly, I believe these two on top of Bitcoin will be money makers.

I think with anyone, you NEED to have a target. My target is 68K. That’s what I have left to pay on my house. When my stocks and coins combined reach this amount, I’m cashing out and Ill officially be out of debt. I’ll max out my 401K and stuff all my checks into savings and live normally. My uncle is broke and has been a millionaire several times over. His problem, like a lot of people, is GREED. And I don’t want to end up that way.

I think pretty much the top 15-20 coins on coinmarketcap.com will survive, but the rest like Boxxa said will die.

I started with PotCoin back in Spring and moved into crypto from there. Potcoin is useful, UNLESS the fed gov’t legalizes pot, then it’s garbage. And with Jeff Sessions in office I don’t think we have to worry about legality till he’s out of office.

Oh yeah I forgot to mention, like Boxxa said, unless you’re a day trader, HODL!!![SIZE=2]

Boxxa, what do you think of IOTA? I like how the Tangle network works and how it cannot be cracked by quantum computing. However, US residents cannot sign up on Bitfinix, and I don’t trust Binance since it’s Chinese.

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I have a little bit of bitcoin and a decent amount of Litecoin. I kinda wanna buy some XRB and hold it to see what happens. What’s the best website/app to get a ripple? I use Coinbase for the 2, wish they would adopt more coins on there.

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I use Bitstamp!

But all my coins get transferred to cold storage (ledger nano s)

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the driving of demand for BTC is what i find most interesting when you apply the same logic to national currencies. The process of creating real market-driven demand instead of government-driven demand in the market for currencies is an incredible thing to be paying attention to. the real competitors are gold and all of the less stable currencies… for now.

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There are a bunch of other coins that do what Bitcoin does even better (like it’s little guy LiteCoin) but Bitcoin has the brand recognition nothing else has.

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oh my god just the process of setting up coinbase to buy this shit has me 1000 times more convinced this is the future…lol

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Try setting up a bit stamp account. They make it hard.

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i know. it’s harder than paypal and then you get hit with weekly limits that keep you trickle-buying.

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I need to get in on this just to have skin in the game.

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Got some more on the sub 8000 dip yesterday :smiley:

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When is the next big correction? I was thinking bailing at 10K, it’s gotta correct at least 20%

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that’s just BTC you’re speculating on correcting though right?

spread it out over a few other coins and just let it ride.

i started last night doing the weekly maxes… planning on just letting it ride and spreading it across BTC, LTC nad ETH

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I must be doing something wrong then. Deff not making out the $7500 a week. Don’t have that to spair. :roll_eyes:

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I think he thinks the weekly max is $400. We talked about it earlier.

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yeah my weekly max is $400.

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Ok I feel better about my investing now :joy:

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Put some money into a .0002 stock of a company who will be manufacturing crypto ATM’s. Saw one in Canada recently.

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I did hold LiteCoin but since it’s somewhat similar to bitcoin I bounced out. If anything, I feel DASH would be a good LiteCoin sub. That doesn’t mean LiteCoin is bad just not for me currently.

Riding Bitcoin, Ripple and Ethereum.

Keep an eye open for coins such as IOTA, that are resistant to quantum computing. Granted it wont be another 10 years at least but just a reminder!

I’m roughly doing 5-700 a mo. investing.

I think we can all agree, @bing @LZ @boxxa that out of the 1200 currencies, I’m guessing 20 MAX will survive. Lots of these coins are fuckin shitcoins with no purpose.

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the coinbase app isnt that strong. it isnt clear how i transfer the coins out of the app and into storage or if i wanted to buy from a specific person and transact in BTC or LTC.
@boxxa, what say you!?!?!