Bitcoin

Discussion in 'Bitcoin and Cryptocurrency' started by Jeffg353, Jul 11, 2017.

  1. Jeffg353

    Jeffg353 Member

    I'm guessing most of you don't keep an eye on the bitcoin rate unless your ordering something. But right now it's down over $300 from last week. Would be a good time to buy or at least keep an eye on if your planning on needing some in the near future. I'm not making any promises that it won't drop further down, which could make you loose money. Just trying to help those that don't understand it as well.

    I try to think of it like the stock market. U want to buy low and sell when it's high. Or in our case here buy when it's low and use it to make gear purchase when it's high. Last month I bought in when it was around 2300.00 and later that month it was up to almost 3000. Ended up making almost 400. It paid for my entire gh order.

    But just like the stock market did it could crash and u could end up loosing a lot of money...just have to keep an eye on it. If u use coinbase app, u can set alarms for when it reaches above or below specific dollar amounts so u don't have to watch it constantly.

    **DISCLAIMER**
    I am NOT a financial planner nor anything even in that field. U take my advice at ur own risk.
     
    DrinkFlintWater likes this.
  2. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    Everything dropped today....checked coinbase all day at work today....discouraged at first...but then went ahead and dumped some more $$ into ETH...riding this bitch out!! Lol
     
    Johne71 likes this.
  3. Burrr

    Burrr Member AnabolicLab.com Supporter

    I'm still not exactly sure what drives the price of BTC?
     
  4. Jeffg353

    Jeffg353 Member

    Pretty much like stock market. The more people buy the higher it's value goes. The more that sell the lower it goes. So u'll see a trend where it gets to a low value and everyone buys and its price shoots up. Then they sell and it'll drop back down.
     
  5. Jeffg353

    Jeffg353 Member

    Another trend u can notice is when BTC is down ETH and LT will usually be up.
     
    Burrr likes this.
  6. HIGHRISK

    HIGHRISK Member

    I've lost almost $100 the last 2 weeks. Everytime I buy low it goes lower lol same with eth also
     
    RThoads likes this.
  7. RThoads

    RThoads Member

    i have lost about $400 the last 4 days....
    Fucking pissed. needed some coin, bought coin and it just started falling, bought more to have enough and it fell more etc...

    At this point things are on hold for me as I can not dump anything more into it. So now I guess i just wait
     
    HIGHRISK likes this.
  8. Robfromga

    Robfromga Member AnabolicLab.com Supporter

    I wouldn't gamble at this point. There have been some heavy losses recently. Unless you time it perfect and ride the top up. Id say it's hit it's peak and it's going to fluctuate but trend down for a bit. Buy em when you need em and don't hold money in it.
     
  9. Dema

    Dema Pharmacom Rep

    There is something huge coming up for Bitcoin August 1st... Lots of people cashing out and holding there investment.... Get ready for it to go down even more these next few weeks but after August it should skyrocket hitting 5k by the end of the year..... Really depends what happen on August 1st though.....
     
    Millard Baker and HIGHRISK like this.
  10. Dema

    Dema Pharmacom Rep

    Just hold for now... Don't look at your acct for the next month or you might shit your pants.... And don't panick and sell at a loss... Wait it out
     
    HIGHRISK likes this.
  11. Jeffg353

    Jeffg353 Member

    Here are a few links to help those understand what @Dema is referring to. Please read up on this. From just kind of skimming through the articles it seems like there is a chance of possibly loosing some or all of ur bitcoin. I know it's a lot of reading but this is ur money and its best to have all information available.

    Segregated Witness Explained Like I’m 5 – Decentralize Today

    A Bitcoin Beginner’s Guide to Surviving the BIP 148 UASF

    The Idiot-Proof Vault: A Simple Cold Storage Guide - Bitcoin News

    A Short Guide to Bitcoin Forks - CoinDesk

    A Bitcoin civil war is threatening to tear the digital currency in 2 — here's what you need to know
     
    Millard Baker and Dema like this.
  12. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    Ive been reading about this all week....not sure what to do at the moment...Whats your stance? Gonna stick it out?
     
  13. DrinkFlintWater

    DrinkFlintWater Member AnabolicLab.com Supporter

    Nevermind....that answered that...maybe i shoulda read it all the way through...lol
     
  14. Jeffg353

    Jeffg353 Member

    Only really started reading into this so don't have all the info just yet
     
    DrinkFlintWater likes this.
  15. Dema

    Dema Pharmacom Rep

    Bitcoin at rest should be safe.... If you are holding Bitcoin put it in cold storage... I'm making the gamble and switching my Bitcoin and putting them into Alts. And holding on to those for now....
     
    DrinkFlintWater likes this.
  16. Jeffg353

    Jeffg353 Member

    I told u it was a good time to buy. Shit is up over $500 since yesterday.
     
  17. HIGHRISK

    HIGHRISK Member

    And as soon as I made back my initial purchase which was today I sold and it just kept climbing lol. To volatile to have my hard earned money in there right now.
     
  18. Dema

    Dema Pharmacom Rep

    It's only going up from here 3,4,5 grand is going to be dirt cheap compared to a few years down the road
     
  19. Jeffg353

    Jeffg353 Member

    I'm glad u at least got ur original investment back. I'm not going to lie I was sweating it last week when it dropped that low and seemed like it was only going lower.
     
    HIGHRISK likes this.
  20. HIGHRISK

    HIGHRISK Member

    I wish I knew enough about that to feel comfortable putting some money into it