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Old 12-06-2017, 05:20 PM   #81
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Hitting new highs on BTC again. I'm starting to look at some of the smaller ones now to do a little gambling.
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Old 12-06-2017, 07:30 PM   #82
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@officialmcafee
When I predicted Bitcoin at $500,000 by the end of 2020, it used a model that predicted $5,000 at the end of 2017. BTC has accelerated much faster than my model assumptions. I now predict Bircoin at $1 million by the end of 2020. I will still eat my dick if wrong.
8:56 AM - Nov 29, 2017
I was going to wait to buy more until it dropped below $10,000 again but I don't think thats gonna happen. BUY BUY BUY!
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Old 12-07-2017, 05:03 AM   #83
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Oh baby, crazy seeing how high Bitcoin is going. Curious to see how high it'll go, and if and when it'll inevitably drop, just how significant of a drop it is. Pretty exciting times, probably alot of tough choices ahead for people who have been holding for a while, and may want to cash out a bit, even if they think it may potentially go even higher.
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Old 12-07-2017, 08:34 AM   #84
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This is how you know it is reaching peak bubble:

http://www.cbc.ca/news/business/bitc...nada-1.4436149

When everyday Joe's throw their life savings into it.

The elephant crouching in the corner is also the massive power consumption required. I wouldn't be surprised if some countries eventually ban Bitcoin mining. What a waste:
Quote:
An index from cryptocurrency analyst Alex de Vries, aka Digiconomist, estimates that with prices the way they are now, it would be profitable for Bitcoin miners to burn through over 24 terawatt-hours of electricity annually as they compete to solve increasingly difficult cryptographic puzzles to "mine" more Bitcoins. That's about as much as Nigeria, a country of 186 million people, uses in a year.
This averages out to a shocking 215 kilowatt-hours (KWh) of juice used by miners for each Bitcoin transaction (there are currently about 300,000 transactions per day). Since the average American household consumes 901 KWh per month, each Bitcoin transfer represents enough energy to run a comfortable house, and everything in it, for nearly a week. On a larger scale, De Vries' index shows that bitcoin miners worldwide could be using enough electricity to at any given time to power about 2.26 million American homes.
https://motherboard.vice.com/en_us/a...climate-change

Canada generates about 600TWh yearly, for reference. This is all essentially wasted energy. Steam recently stopped accepting Bitcoin due to transaction charges rising from $0.2 to $20! Could you imagine a Visa transaction costing $20, even on a purchase of $1, and burning 1/4 of your monthly electrical bill? It's madness.
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Old 12-07-2017, 09:09 AM   #85
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Just moved past $21K CDN......
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Old 12-07-2017, 09:31 AM   #86
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If they had invested all of that money into NVidia stocks, they would have also been doing pretty well.
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Old 12-07-2017, 10:54 AM   #87
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Damn, clearly I should have bought BTC instead of ETH...

Wonder when the bubble will burst?
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Old 12-07-2017, 11:50 AM   #88
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Yes, this is perfectly fine. No chance of a problem here, folks. Shovel your money!

https://coinmarketcap.com/currencies/bitcoin/
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Old 12-07-2017, 02:17 PM   #89
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If I had money in bitcoin I would be concerned about how to get out. Seems like the systems that let you trade are just hammered and can't handle the volume. At this point of course, that is due to the rise, but if the plan is to "get out before everyone else does" then you have to expect to face that same issue.

I have no position, and won't be taking any.
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Old 12-07-2017, 02:33 PM   #90
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Quote:
Originally Posted by Fuzz View Post
This is how you know it is reaching peak bubble:

http://www.cbc.ca/news/business/bitc...nada-1.4436149

When everyday Joe's throw their life savings into it.

I think we might be getting close to that point. I went out for drinks with a couple of buddies last week and one of them (Who is an engineer) wanted to talk all bout how blockchain technology is in its infancy and that it's proliferation in places like Bahrain could only facilitate more people getting in and thus increasing the value of Bitcoin. He's in for a few Bitcoins.

Also notice the recent spike on google trends:

https://trends.google.com/trends/explore?q=Bitcoin

My prediction is that we are certainly in the mania stage. Who knows how high it can go and for how long, but for me personally I can only see this ending poorly for a lot of people who think this is the next big thing.

Last edited by Cowboy89; 12-07-2017 at 02:38 PM.
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Old 12-07-2017, 04:24 PM   #91
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If I had BTC I would be looking to get out asap. There is a huge crash coming. I would look at less well known crypto currencies than buy into BTC right now.
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Old 12-07-2017, 04:36 PM   #92
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Bitcoin futures start trading Sunday night. So far, the people buying BTC are the "optimists". Those who have been caught up in the mania and new entrants as well. This leads to a price increase.

I wonder if bringing in "pessimists", ie, the futures traders will push the price down?

The high price looks like the banks pumping the stock and then dumping them via futures.
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Old 12-12-2017, 12:50 AM   #93
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Yeah I'm selling it all off. Made some cash, had some fun, but this is ludicrous and it scares me. I'm buying a condo instead.

The blockchain technology is great and I strongly believe in it, but come on. People are buying virtual cats with ethereum now.....time for me to exit stage left and try to get Rich with my real life job.
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Old 12-12-2017, 08:28 AM   #94
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Ltc going mad right now since btc futures started trading.
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Old 12-12-2017, 03:01 PM   #95
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Jeez, the 21 LTC I forgot I had is worth over $9000 CDN... do I sell while it's going up, or hold hoping it keeps going up lol.

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Old 12-12-2017, 05:25 PM   #96
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Man, been a crazy last little while. BTC going to the moon, LTC getting its massive gains in the past 48 hours or so, and now Ethereum hitting all time highs.

I only hold BTC and ETH, but the amount of money I've made is ridiculous. Getting closer and closer to being a crypto millionaire lol.
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Old 12-12-2017, 08:04 PM   #97
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This has definitely been a nice ride. I bought a bit into eth and LTC awhile ago and seeing nice profits.
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Old 12-13-2017, 12:46 PM   #98
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Any suggestions for an exchange to buy/sell? After LTC tanking today I figure I should have something ready to go if I ever want to sell something. Is it better to use a Canadian exchange? Or will anyplace do?
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Old 12-13-2017, 02:05 PM   #99
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Any suggestions for an exchange to buy/sell? After LTC tanking today I figure I should have something ready to go if I ever want to sell something. Is it better to use a Canadian exchange? Or will anyplace do?
I've been using coinsquare. They seem to be good, but there is a limit on how much money you can withdraw, based on the type of withdrawal method. I think most people use quadricaCX, which also has a limit. btw, those 2 I mentioned are cdn exchanges.
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Old 12-13-2017, 03:00 PM   #100
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I've been using coinsquare. They seem to be good, but there is a limit on how much money you can withdraw, based on the type of withdrawal method. I think most people use quadricaCX, which also has a limit. btw, those 2 I mentioned are cdn exchanges.
I use QuadrigaCX the 24-hour withdrawal limits are pretty large for the direct bank (100k), and wire (500k).

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