Armed Polite Society

Main Forums => The Roundtable => Topic started by: Ben on November 20, 2017, 09:32:21 AM

Title: Bitcoin at over $8000
Post by: Ben on November 20, 2017, 09:32:21 AM

Holy crap. I've pretty much ignored Bitcoin since after the first hubub. Maybe I should have setup one of those Bitcoin collectors/whole house heaters after all. I just read that Samsung (I think it was them) made a Bitcoin collector with a bunch of old phones.

Title: Re: Bitcoin at over $8000
Post by: lee n. field on November 20, 2017, 09:27:17 PM

Quote from: Ben on November 20, 2017, 09:32:21 AM

Holy crap. I've pretty much ignored Bitcoin since after the first hubub. Maybe I should have setup one of those Bitcoin collectors/whole house heaters after all. I just read that Samsung (I think it was them) made a Bitcoin collector with a bunch of old phones.

Keeping an eye on it.  We have a few, from my oldest son's estate.  He bought at $50.

Still haven't found an online FFL that takes it.

Title: Re: Bitcoin at over $8000
Post by: cordex on November 20, 2017, 09:34:42 PM

Quote from: lee n. field on November 20, 2017, 09:27:17 PM

Keeping an eye on it.  We have a few, from my oldest son's estate.  He bought at $50.

Still haven't found an online FFL that takes it.

Transfer it to Xapo, then get the debit card.

Title: Re: Bitcoin at over $8000
Post by: Pb on November 21, 2017, 09:30:38 AM

OK, so I am not sure if bitcoin being over 8k means people are horrifically irrational, or our currency is screwed up.... or both.   ???

Title: Re: Bitcoin at over $8000
Post by: charby on November 21, 2017, 10:18:56 AM

Quote from: cordex on November 20, 2017, 09:34:42 PM

Transfer it to Xapo, then get the debit card.

take the cash and run

Title: Re: Bitcoin at over $8000
Post by: Ben on November 21, 2017, 10:24:20 AM

Quote from: charby on November 21, 2017, 10:18:56 AM

take the cash and run

That would be my recommendation to Lee. Bitcoin still, to me, has a crazy volatility. Given the acquisition price of Lee's coins, if it were me, I'd sell (or do what Cordex suggested) at least one or some, and maybe keep one or two as a hedge.

Title: Re: Bitcoin at over $8000
Post by: Ben on November 29, 2017, 12:06:47 PM

Wow. Now over $11,000.

Title: Re: Bitcoin at over $8000
Post by: Angel Eyes on November 29, 2017, 04:47:07 PM

Quote from: Ben on November 29, 2017, 12:06:47 PM

Wow. Now over $11,000.

... and then dropped 18%.

https://www.cnbc.com/2017/11/29/bitcoin-plunges-18-percent-after-topping-11000-in-extremely-volatile-trading.html

Title: Re: Bitcoin at over $8000
Post by: Ben on November 29, 2017, 04:54:34 PM

Quote from: Angel Eyes on November 29, 2017, 04:47:07 PM

... and then dropped 18%.

https://www.cnbc.com/2017/11/29/bitcoin-plunges-18-percent-after-topping-11000-in-extremely-volatile-trading.html

Another reason I would not wait for a "peak" if I had any bitcoins. I learned along time agon not to try and time the stock market, which is a lot less volatile. I can't see anything tangible to tie bitcoin pricing to. The way that roller coaster runs, it could just as easily be worth $100 next week as $10,000.