BITCOIN

[BMWM5MT]

Has anyone here jumped on the bandwagon?

I just bought half a coin. But, I'm not convinced its a long term play.

[allmotor_2000]

Sell

[Maximo1970]

Now that it's reached the wider public, the value is likely to fall apart. Mainly because brokers will be trying to offload some new financial product that allow them to make mega bucks.

I wish to luck and hope it works out for you. You never know it could enable you to be in the new M5 a lot quicker than the rest of us.

[TheHouseWon]

Was over 11k, now at 9400... In one day!

With futures contracts coming online in the CME soon, the ability to short it will be so much easier!

[Flying Ace]

Bitcoins and other crytocurrencies will be stomped out by central banks and governments.

Anything that interferes with a government's ability to print money and manage its monetary policy will be squished like a bug sooner or later.

[stealth.pilot]

Originally Posted by Flying Ace

Bitcoins and other crytocurrencies will be stomped out by central banks and governments.

Anything that interferes with a government's ability to print money and manage its monetary policy will be squished like a bug sooner or later.

At best they can quash local exchanges. I don't think they can eliminate the currency.

[Greer]

When will am ETF be formed so that I can short BITCOIN?

[TheHouseWon]

Originally Posted by Greer

When will am ETF be formed so that I can short BITCOIN?

CME Group Inc.’s contracts will debut Dec. 18. Cboe Global Markets Inc. didn’t announce a start date. Both got the green light Friday after going through a process called self-certification -- a pledge to the U.S. Commodity Futures Trading Commission that the products don’t run afoul of the law. The news pushed bitcoin’s price higher.

[stealth.pilot]

Originally Posted by Greer

When will am ETF be formed so that I can short BITCOIN?

There already is one. GBTC

[Matteo88]

bought one at $500 woohooo!

[ARKONE]

Originally Posted by TheHouseWon

Was over 11k, now at 9400... In one day!

With futures contracts coming online in the CME soon, the ability to short it will be so much easier!

And we're at $11,500 again. Volatility is an absolute monster on this, haha.

Originally Posted by stealth.pilot

There already is one. GBTC

I remember running numbres on it, but it being OTC is hard to find shares earlier this year. Also during a rally, GBTC tends to be disproportionate to BTC, or that was case back in the spring. Still an issue or no?

[vpatel867]

Originally Posted by stealth.pilot

There already is one. GBTC

Also volatile. Each share of GBTC represents roughly 1/10th of a bitcoin. But because demand has been so strong, the price of the stock now trades at a premium to the underlying assets. In other words, for the privilege of buying bitcoin on the publicly traded markets, GBTC investors are paying $18000-20000 per bitcoin when the market price of bitcoin is “only” about $11000. Also eligible to be held in certain IRA, Roth IRA.

[TheHouseWon]

https://btcmanager.com/us-senate-bil...rship-bitcoin/

Senate Bill to criminalize hidden ownership of BTC by including exchanges in the definition of 'financial institutions'

[phefner]

Be interested to here if people have any thoughts on other ways to get involved. A few stocks might be: Square, ticker SQ, they are looking to allow bitcoin for (some) transactions. PayPal, ticker PYPL might look to get into that game too. CME Group, CME, they will be offering those futures for rabid knuckleheads to try and pick a direction, and if volume on the new futures contract is high, they make lots more money, and all without taking any risk.

Love to hear any other thoughts.

[Loft23]

I bought $4k worth of Ethereum and Litecooin just to say I own cryptocurrency. Not really paying attention to it. If it goes up, great, if not, its play money and won't get too hurt if it does. Wished I had done the same, back in 2009, when my friend asked me if I wanted to get into it. He's sitting in a 3m house right now. He was already wealthy, to begin with, so I'm sure owning bitcoin back then only made him richer.

[stealth.pilot]

Originally Posted by vpatel867

Also volatile. Each share of GBTC represents roughly 1/10th of a bitcoin. But because demand has been so strong, the price of the stock now trades at a premium to the underlying assets. In other words, for the privilege of buying bitcoin on the publicly traded markets, GBTC investors are paying $18000-20000 per bitcoin when the market price of bitcoin is “only” about $11000. Also eligible to be held in certain IRA, Roth IRA.

Yes this is true. However it started at parity which means if you bought early it outperformed bitcoin.

At this point it is of course more risky.

[CLABRO]

Bitcoin is unlike any other investment. You need to be prepared for the unepected. To say that it is volatile is putting it extremely lightly. And I cannot emphasize the word, volatile, enough when talking about Bitcoin. If you thought Biotechs were volatile, take a look at Bitcoin throughout the day tomorrow.

With that being said, it's broke through multiple levels of resistance the past 24 hours, so it'll be interesting to see what happens in the next 24-48 hours. It's at an all time high right now ($14,570), but just a few weeks ago (November 12th), it was trading ~ $5,700. Those are some examples of just how quickly this thing moves (up and down).

To the OP, I see you posted this thread on November 29th and it's made some GREAT gains since then! Remember, as fast as it has gone up, it can come down so be conscientious of that as it is a volatile currency market after all.

[hirkaismyname]

BTCUSD -- Today: 7am @ 14.3K; 10:30am @ 15.9K; wut tha wut?

Any takers on BTC breaking 16.5K by market close? NiceHash also got their wallet stolen -- didn't know that was possible.

Moreover, how does one track cryptocurrency? Isn't this why Senate is trying to include Crypto as a "financial institution" in their new Bill? I think it makes it a Fed Crime to conceal Crypto.

Hypothetically, if we can track crypto (person who stole it) then wouldn't that open up the market to Crypto Insurance -- say, NiceHash saying, uhh, can we get our $ back? hmmm....

[Frank_NJ]

I sold all of mine off today.

[BMWM5MT]

Flirting with $20K.

Agreed with all the comments. Speculator's gold rush. Tulip mania or bust!

[TheHouseWon]

I wonder how much leverage is being used by big institutional buyers... If lots, then expect a spectacular crash and burn. Some hedge funds or banks may take massive losses and cause a small recession... If Goldman Sachs is involved you know their hedge fund clients are, too. I hope there is not too much collateral damage when there's no one left to buy at 25,000!

#negativeNancy

[Flying Ace]

you dudes have it all wrong. Ziddu coins is where it's all at!