What are your thoughts on BitCoin?

[yung.carl.jung]

Good game; good choice.

Have you ever played the rookie version called Go Bang? It was my intro to Go, it's a lot of fun, but pretty much an entirely different game. How'd you end up getting into Go? Any beginner ressources you can recommend?

 

[Birdjaguar]

Have you ever played the rookie version called Go Bang? It was my intro to Go, it's a lot of fun, but pretty much an entirely different game. How'd you end up getting into Go? Any beginner ressources you can recommend?

I first played go just after I got out of college, pre computers. I had a board, game pieces, a friend who also played and a couple of small books on strategy. I played pretty regularly until the kids were born. As typical, my attention shifted from games, music and movies to kids for about 15 years. When I've looked at online resources for Go recently, they seem pretty robust and far exceed what was available to me when I was learning.

I've never played Go Bang.

 

[Hygro]

Wall Street doesn't like it

, Wall Street loves it.

 

[Bamspeedy]

Wall Street doesn't like it

, Wall Street loves it.

Google: "Wall Street loves Bitcoin" and I get a bunch of 'good news about bitcoin' links. Kinda goes against the 'bad news plastered all over the media' bit.
But down towards the bottom of the first page appears to be a neutral viewpoint, that is in the headline, but the article itself doesn't address much anti-bitcoin viewpoints.

Bitcoin is creating stark divisions on Wall Street
https://www.marketwatch.com/story/bitcoin-is-creating-stark-divisions-on-wall-street-2017-10-02

All the other cryptocurrencies sound like penny stocks (at least they all were at one point, some may left that classification because of their current price) https://en.wikipedia.org/wiki/Penny_stock

 

[El_Machinae]

The majority of wall street isn't composed of analysts, but of traders who are working off of the same analyst reports as the other traders. They mostly care about price and momentum. So, since most of them are not value investors, the majority of them will like any commodity that they can trade using someone else's money. Wall Street, more than anyone else, conflates 'speculation' with 'investment'. They're basically the people who said that you should put your savings with them, and they'd 'invest' your savings for you.

 

[Moriarte]

Anyway, there is this article on chain interoperability by Vitalik Buterin dated September, last year.

Some of you might find it useful, as it sheds more light on where Ethereum and many others are headed in terms of feature development philosophy.

https://static1.squarespace.com/sta...49b1/1485209617040/Chain+Interoperability.pdf

 

[Mason4]

Do you think now is a good time to buy bitcoins? I'm sure I want to buy them. I want to use the wallet ethereum. Is someone already using this wallet? But I would like to hear feedback. Thanks for the help!

 

[yung.carl.jung]

Yes, now would be a very good time. BTC took a quick nosedive and has yet to recover, so it is almost guaranteed to go up a little over the next few weeks. Personally I just stash my coins on the respective exchanges, but then again I wouldn't be too pissed if someone hacked my account and realized there's only a few hundred bucks there. Have never heard of that wallet you posted so can't comment on it. I don't know what you mean by "BitCoins", but just in general I don't think buying BTC in 2018 is the greatest idea. Ethereum seems like the better alternative both short and long term. It might even take over the market if BTC ever "decouples" from altcoins. Hope this helped.

You do know that in order to buy BTC you need an account on CoinBase/Kraken or any other exchange, yes? Verification can sometimes take days.

 

[Thorgalaeg]

I dont recall having to wait more than a bunch of minutes for bitfinnex, poloniex or cryptopia to confirm my ID (IIRC cryptopia doesnt even require it). Had to wait a week at bitstamp though.

 

[yung.carl.jung]

I dont recall having to wait more than a bunch of minutes for bitfinnex, poloniex or cryptopia to confirm my ID (IIRC cryptopia doesnt even require it). Had to wait a week at bitstamp though.

That's because those get way, way less requests. All the small exchanges work really fast with the sign-up, some don't even need ID like KuCoin or Cypt, as you mentioned. Coinbase otoh is notorious for taking days (in my case weeks) to confirm an account. It's horrible.

 

[Borachio]

Do you think now is a good time to buy bitcoins? I'm sure I want to buy them.

Honestly, only you can make that kind of decision.

No-one can predict the future for you, in the financial world in particular.

Don't believe them if they tell you they can.

 

[yung.carl.jung]

Honestly, only you can make that kind of decision.

No-one can predict the future for you, in the financial world in particular.

Don't believe them if they tell you they can.

When everyone is panicking and screaming that the bubble has burst, you buy. When everyone is telling you to buy in, you sell.

 

[Archbob]

You actually want to wait for a while, at least until the tether dust settles.

 

[Borachio]

When everyone is panicking and screaming that the bubble has burst, you buy. When everyone is telling you to buy in, you sell.

Yeah. OK. That's fine and dandy in theory.

 

[hobbsyoyo]

Yeah. OK. That's fine and dandy in theory.

And we've seen a generous helping of the literal opposite advice here but whatevs.

 

[yung.carl.jung]

You actually want to wait for a while, at least until the tether dust settles.

Tether's got me shook. I was always sceptical and definitely park my money in FIAT, not Tether, but if Tether turns out to be bs we will definitely have another collapse at hand, and this time a much worse one. Maybe I'm checking out everything in the next few days and wait for the big dip..

 

[El_Machinae]

When everyone is panicking and screaming that the bubble has burst, you buy. When everyone is telling you to buy in, you sell.

This is only true when there is a trackable, underlying value. At all points in time, you need to be able to identify the customer to whom you're going to sell your asset. During the housing bubble, a homeowner who wanted to live in that house provided the floor for the underlying value. During the Tulip bubble, people who like flowers for their own sake or the floor. For any specific company, the future dividend stream provides the underlying value.

It could very easily be the, in retrospect, ideal time to rebuy bitcoin. But the rule of thumb expressed in your post is not true, for the reasons stated above.

 

[metalhead]

Do you think now is a good time to buy bitcoins? I'm sure I want to buy them. I want to use the wallet ethereum. Is someone already using this wallet? But I would like to hear feedback. Thanks for the help!

What you should do depends a lot on the reason you want to buy bitcoins. Inherent in any investment decision is figuring out how much risk you are willing/able to tolerate, and then going from there.

Nobody really knows what will happen with the value of bitcoin, either short-term or long-term. The risk in investing in it now is very high, but so is the potential reward, at least in theory. The relative odds of a good vs. bad outcome over the next week, month, or year are anyone's guess. You might have better odds in a casino right now, for all anyone knows.

 

[Narz]

I bought some more lites right at the trough ($128), already bounced back to $140

 

[Archbob]

Unfortunately I sold at the trough(now its $140), hoping it would drop more before I buy back in, but it bounced. I'm holding off on buying right now though, because I do think more Tether news will pwn the price in the coming days. I don't care about this Indian thing, that was just a mistake in the prediction for me, but tether on the other hand I am really worried about. I can see BTC going 6000 or lower if Tether blows up.