Bitcoin News and updates

[Son of Butch]

I am probably hanging myself out to dry, but is Bitcoin something tangible that one can hold in the hand?

Nope, bitcoin is a digital currency, essentially bitcoins are lines of computer code.

 

[Lee VanRoss]

Thank You Son of Butch. I will yield my place in the Bitcoin line to you.

 

[Named'em Tamed'em]

Never really understood it !!

And I'm glad !!

 

[sstterry]

I don't understand it either, but the Dogecoin I bought 7 years ago as a joke is doing well. It is not much, but it is fun to watch.
I would never invest my retirement in Crypto though.

 

[greybeard]

I am probably hanging myself out to dry, but is Bitcoin something tangible that one can hold in the hand?
If it is a coin from what metal (s) is it derived?
Is it listed with the U S or any national Mint?
If not listed what is to prevent its duplication by any party with access to the metal and a hydraulic press?

Not really. There are bitcoin coins but they are mostly a collectable type thing like those multi-color US silver dollars you see advertised on late nite TV.

https://medium.com/the-capital/everything-you-need-to-know-about-physical-bitcoins-ceaab58f18c6

 

[Son of Butch]

bitcoin 39,784 at 8 am this morning up 5.7% from 37,743 three days ago.

My charting says buy the dips that occur on/with full and new moons.

But I saw an analyst advising to wait for bitcoin to drop to 20,000 before buying.
The last time the bitcoin bubble burst in 2017 it dropped 84% before recovering in 2018.

 

[sstterry]

The swings in crypto are wild and speculative. But it is a fun ride if you are not counting on it. I would never put money in it that I could not lose.

 

[shaz]

My charting says buy the dips that occur on/with full and new moons.

But I saw an analyst advising to wait for bitcoin to drop to 20,000 before buying.
The last time the bitcoin bubble burst in 2017 it dropped 84% before recovering in 2018.

Maybe Elon will chime in about bitcoin again and get your entry point down lower.

 

[Son of Butch]

The swings in crypto are wild and speculative. But it is a fun ride if you are not counting on it. I would never put money in it that I could not lose.

last update 10 days ago bitcoin was 39,784
today 6/5/21 bitcoin is at 35,678 at 10 am
down 10.3% in 10 days

 

[Son of Butch]

June 10, 2021 bitcoin 37,906

Colonial Pipeline paid 75 bitcoins in ransom to dark-side hackers of which
the FBI-Dept of Justice recovered 52% (39) worth 2.3 million dollars.

JBS reportedly paid 11 million dollars in ransom using bitcoin.

Bitcoin is the currency of choice for criminals.
In July 1969 Richard Nixon authorized removing denominations larger than the $100 bill from circulation in an effort to crack down on drug dealers by increasing the sheer volume of cash needed for criminal activity and aid the FBI in tracking illegal cash transfers.

 

[HDRider]

Elon might have put the kiss of death on Bitcoin. I'm sure there is some thing going on behind the scenes there but it's not good for Bitcoin at the moment.

Word on the street is the people who are taking a bath on GME are selling off their Bitcoin to pay for the losses.

No, it was me. Bought in and it started dropping.

 

[Son of Butch]

Bitcoin is at 61,175
Meme coin Shiba Inu started on cryptocurrency exchanges Aug 1st 2020
$100 invested in SHIB tokens 8/1/20 is worth $14,045 today (15 months)

 

[Mrcopier]

So if you sell the Bitcoin you have how is that done? Something is worth nothing if you don't have a buyer

 

[sstterry]

So if you sell the Bitcoin you have how is that done? Something is worth nothing if you don't have a buyer

There are tons of exchanges. Bitcoin will go up and down, but there are always buyers. A lot of stores accept bitcoin. It is traded infractions.

I got $40 of Dogecoin as a joke about 7 years ago. I had forgotten that I even had it until it went through the roof in the Spring. That $40 is now worth $7,800 (note I had to pay 25% this past year to have my wallet hacked because I forgot my passphrase- So what I have now is worth about $5200 at today's price.

Edit" I sure wouldn't put my retirement in it, but it is fun to watch.

 

[EasTex]

There are tons of exchanges. Bitcoin will go up and down, but there are always buyers. A lot of stores accept bitcoin. It is traded infractions.

I got $40 of Dogecoin as a joke about 7 years ago. I had forgotten that I even had it until it went through the roof in the Spring. That $40 is now worth $7,800 (note I had to pay 25% this past year to have my wallet hacked because I forgot my passphrase- So what I have now is worth about $5200 at today's price.

Edit" I sure wouldn't put my retirement in it, but it is fun to watch.

So how do you cash that Dogecoin in for real money?

 

[sstterry]

So how do you cash that Dogecoin in for real money?

There are exchanges that you can sell Doge, Bitcoin, etc for cash that will be deposited into your bank account.

Let me be clear, I am no expert and digital currency is extremely volatile. The Dogecoin I own is all that I own. I am not recommending buying anything. Dogecoin is currently at 26 cents (it got up to 70cents in the spring) But some of the lower-tier cryptos are pretty cheap and fun to play with. It's like anything else, if hindsight was 20/20 we could be rich.

 

[greybeard]

The whole thing remind me of S&H green stamps or the mama-sans trying to trade in their old MPC for the new script..

 

[sstterry]

The whole thing remind me of S&H green stamps or the mama-sans trying to trade in their old MPC for the new script..

I got some pretty good crap as a kid pasting in those Green Stamps my mom gave me.

 

[HDRider]

So if you sell the Bitcoin you have how is that done? Something is worth nothing if you don't have a buyer

Use www.coinbase.com

 

[EasTex]

Is it time to buy Bitcoin?