Anyone know about Bitcoin or Ether?

[houstondallas]

A buddy was telling me about the crazy amounts of money he has made investing in Bitcoin and a new currency called Ethereum. Anyone invested in these or familiar with them?

Story the other day said if you bought $100 in bitcoin 7 years ago, it would be worth 75 million today. Ridiculous. Sounds like these virtual currencies are only growing so might be a good long term investment.

[HarrisonTX]

The ship has sailed for making money on bit coin IMO

[houstondallas]

why you feel that about bitcoin? Im sure that was the thought for some when it hit $1000, its now at $2500

[scootro]

how do you convert bitcoin back to hard cash? $75 million from a $100 dollar investment sounds like bull to me

i think you still have sell your bitcoin to buyers for cash if i'm not mistaken! which freaks me out because of scammers

[dcs13]

how do you convert bitcoin back to hard cash? $75 million from a $100 dollar investment sounds like bull to me

i think you still have sell your bitcoin to buyers for cash if i'm not mistaken! which freaks me out because of scammers

Theres ATM machines and money exchanges. Some legit with low fees, some not legit with higher fees. Theres a legit one in deep ellum.

When bitcoin appeared, I thought that is fucking stupid, who the hell would buy in to a currency based on nothing. Well, its gone gang busters. A lot of main stream stores accept it online now.

[kingjason]

It does really well until your money randomly disappears! It has recovered since then but it could happen again.

[stephen4785]

Iv got a couple grand in it right now. Iv made pretty good gains but the market is down right now. But thats a good time to buy. I dont think the ship has sailed. As far as the "buy $10 worth have $100k worth now" I think is over. But its going to continue to grow. Iv got most of my cash in Ether(ETH), Bitcoin, and about $300 into whats called alt coins or shit coins. If you watch all the coins and invest then you can cash out your gains every week and make a decent amount depending on how much money you have into it. My plan is to keep putting $100/week into it for the next few years and cash out if/when its enough to buy another property. The key thing is that its an investment. Dont spend any money your not able to loose without damaging your lifestyle. But thats any investment. As far as not being able to cash it out thats bogus. There ATM's in every major city where you can sell your bitcoin for cash for a 3-5% fee. Or you can go to providentmetals.com and use bitcoin to buy gold/silver/platinum.
the fees suck but if you have some undeclared cash and want to invest it you can theoretically invest it in cyrptocurrency and cash it out or buy stuff with it without paying tax on it which saves you around 30-40%(although youll loose 3-5% with transfer fees). You can also get a debit card that uses your bitcoin so cash into the atm to buy bitcoin and then use your debit card.
the cyrptocurrencies arent going anywhere. Theyve been around since 2009. Right now 1 bitcoin costs $2500. Speculation is that by 2020 theyll be $8000-10000 each. Ether has the same speculation although internet buzz is that itll exceed Bitcoin. FYI, you dont have to buy a whole coin of anything. You invest how ever much cash you want.

[stephen4785]

It does really well until your money randomly disappears! It has recovered since then but it could happen again.

Theres also this /\
But you can buy an encrypted digital wallet(looks like a thumb drive) and store your crytpo on it. Friend of mine does that with 90%of his coins and keeps it in his safe. He keeps the other 10% online on an exchange so he can buy/sell alt coins.

[houstondallas]

Theres also this /\
But you can buy an encrypted digital wallet(looks like a thumb drive) and store your crytpo on it. Friend of mine does that with 90%of his coins and keeps it in his safe. He keeps the other 10% online on an exchange so he can buy/sell alt coins.

Great info man. Thats exactly what I heard from my buddy and sounds like a great investment. Where do you get the offline wallets at? The thought of a hacking scares me so Id like to get it off the network if its a long term investment

[houstondallas]

What I am still unclear on and maybe you can help me understand is what moves the price? My buddy was saying demand is part of it. I am trying to find an entry point but dont have any idea what factors to consider. For normal stocks its economy and all that but this doesnt seem to be tied into that

[Gasser64]

I was asking abecx about this since he apparently used to mine bitcoin. It seems that it will take about 10 months to recoup your investment, after buying mining equipment. With bitcoin, your PC just can't keep up unless you're running 2 Nvdia 1060's in SLi. Those are some of the first cards released, that are actually set up to mine efficiently.

If you don't have those cards (or greater) then you're better off buying the antminer S9. Which is something like $1500. And again even if you buy a couple of those (which at this time would put you making roughly $110 per month) you've still got to realize that the "mining difficulty" may increase, thus your antminers may need to be replaced with newer models that come out later.

There are others that are easier to mine, such as Zcash and Etherium. Even litecoin is really not worth mining right now. These others may sound like trash but remember... that's what they said about bitcoin. Now its like $2300 for a single bitcoin. Even litecoin is something like $40 just for 1. So you could mine the easier ones, get a lot of them, and wait for them to gradually increase. I too thought bitcoin was never going to be worth anything. Now dish network has an option to pay your bill with bitcoin.

Will it replace the dollar?

[houstondallas]

Why cant you just use coinbase or something buy it? They charge a small mining fee but will get it for you.

[scootro]

i've read that mining today isn't that profitable like it was a few years ago. it's like 600 watts will get you 0.0007 bitcoins per day

[houstondallas]

There are super computers doing it now. Not worth the time anymore

[Gasser64]

Unless you mine something else. Which one of the crypto currencies is something that is getting ready to go up? Its probably something that is around a $1-$3 per coin right now. You can exchange any of them for dollars. They're all trying to be the next bitcoin, and some of them like ether and litecoin and zcash aren't doing a bad job of it.

It looks to me like the success of bitcoin and a few others at the top, are going to drag some of the lower ones up with them. But which one is easy to mine right now?

Anyone got a current chart that lists all the crypto currency prices for today? I want to start mining one that is a dollar or two per coin. This would be about getting a bunch of coins for that currency be for the climb. They estimate that bitcoin will likely reach $10k per bitcoin by 2020. That means that it will likey drag the others that are doing ok, up with it. Just need to find one of those others, that's easy to mine at this time. One that has already shown that its got the potential to increase.


Anyone got a current chart that lists all the crypto currency prices for today?


EDIT here's one:

https://coinmarketcap.com/all/views/all/