Bitcoin $5,000

  • It crossed that barrier today. I do own some. I’ve been buying about $20 - $25 per week for many years. I’m doing OK.

    Any opinions? On the old FW, most were negative.

  • Congratulations on foresight or luck. Either work in my book.

  • At last count you had 12ish?

  • Yes. A fraction less than 12 btc and 25 ethereum. Buying $20 a week now doesn’t get me much. Something like .0034 btc. I’m still owed some bitcoin cash by Coinbase that they’re going to distribute at the end of the year. It’s at about $300. Hopefully it’s still worth something then.

    Earlier this year I bought 25 ethereum at about $10 each. That’s what I should have loaded up on.

  • Say if i have a surplus 5k in 2018 to invest, what would be the top 5 crypto currency (other than BTC) to invest ? Tips/suggestions. I have googled and have a list. want to take some input here.

  • Is there a difference between investing in BitCoin vs BitCoin Cash that I heard someone talk about?

    One of my friends who actively looks into cyber currency said Ripple would be one to get into as it is backed by people who are either well known bankers or government officials.

  • Bitcoin Cash forked off Bitcoin in August. Two different cryptocurrencies. If you owned Bitcoin on 8/1/17 you received an equal amount of Bitcoin Cash. If you use an exchange like Coinbase, you should see it in your account (as of last week). There are some differences between the two, but you got to research that yourself (far to long to post).

    As I’m typing this, Bitcoin Cash is about $2,400, Bitcoin is about $14,000.

  • Thanks @Burgerwars for the answer. Was trying to figure out what each of them were priced at.

  • I took the plunge, regrettably and bought some Bitcoin, Ethereum, Litecoin and Ripple. I regret it only because it is a pain in the ass to deal with. It is somewhat difficult to hold long term because it cannot be easily transferred upon death. Or, should I say, it is too easily transferred in some instances (to unintended people) and too easily lost in others.

    My opinion is that one should have no more than 5% of their net worth invested in any security. Bitcoin is far less secure than a security and I would say that one should have no more than 1% of their net worth in crypto.

  • 500 Club

    and most importantly, it’s hard to tip the dancers with crypto.

  • Well, over the past couple of weeks I’ve been shedding my Bitcoin, Bitcoin Cash and Ethereum coins. It was quite a ride. Maybe it will recover, but I can’t risk riding it all the way down. I read the forums on Reddit for Bitcoin, and there’s a whole bunch of “HODL,” “HODL,” “HODL.” For those unfamiliar with the term, it basically means “Hold on for dear life.” It may be an investment technique, and has worked well for long term stock investors, and may work here, but what if it doesn’t? It will be too late when I find out Bitcoin is back down to some really low amount. As far as percent profits, I do have the most in Ethereum. I bought it all at about $10 and watched it shoot up to over $1,000. That got me nervous. Anyway, I may jump back in, but not now. I’m not a market timer.

  • @burgerwars

    I think I live vicariously through burgerwars and his bitcoin adventures.

    I never took the bitcoin plunge. I remember reading about it when it was at 70 cents. Gadzooks, if I just held on till the bubble highs…

  • 500 Club

    what goes up…

  • My accountant has question asking about bitcoin and other virtual currency transactions for tax forms this year.

  • @kamal said in Bitcoin $5,000:

    My accountant has question asking about bitcoin and other virtual currency transactions for tax forms this year.

    I sold no virtual currency last year so nothing to report on gains or losses. The year before I did sell and it was a lot of figuring out.

  • My eyes are being filled with tears when I read things like that. OMG, bitcoin was really that cheap and it felt like it was its maximum. Damn, now it’s ten times more expensive, and seems to me that it’s not even the end. Anyway, I am not a big analyst here or something like that, but I really have a strong feeling that bitcoin will soon or less lose its price on the market. That is inspired from, if I’m being completely honest, and I really believe this company because I am working with them for more than half a year. In crypto business it’s a lot of time, believe me.

  • Well, it’s above 60k. How we all wish we would have socked away some extra change on bjtxoin. I still think this is no more than than buying tulips. But could have become a billionaire!


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