Has anyone here bought Bitcoin or other Cryptocurrencies?

Asking for a friend

I have fractional "shares" of Bitcoin and plan on buying more. Also own 6.2 Litecoin. I'm going to continue to invest in Bitcoin and Litecoin, as well as a few other crypto. If you are serious about buying Bitcoin, buy a hardware wallet to store them (Ledger Nano S).

Bitcoin is now worth $6,000 each, and will probably be worth upwards of $500,000 each in a decade. Fastest appreciating "stock" in history.

how to buy "fractional shares"? I want to invest in Bitcoin but I don't have 6k to spare....

R3

You can buy .0000001 bitcoins. It’s very fractional.

It is another dotcom bubble. They can be easily tracked. If a government agency wants to track a bitcoin, it is child’s play.

It also fails to meet the regression theorem.

R3, sign up for an account on Coinbase.com. That's how everyone starts buying crypto. Very easy to buy Bitcoin, Litecoin, and Ethereum there, and then send to a wallet. You can email me if you have any questions - elijah.taylor15@outlook.com

Thank you for the info R5

You have to link your bank account. what if they get hacked ? that's my worry...

I am the proud owner of 31.5 bitcoin. I invested about $16,000 altogether. Best investment of my life.

i own 48.....bought them at 321 dollars.........wow wow wow....I am ecstatic

R8

That half million will have to eventually be declared as capital gains if you withdraw or use them.

You owe the government major taxes.

r10......not if I spend them in another country directly for merchandise (with a private merchant) after I retire and move there.......think about it......

when did you start investing in bitcoin?

R11, I'm listening. Are there any other ways to get out of paying capital gains taxes down the road? Bitcoin really shouldn't be subject to the antiquated tax law, ugh.

R11

That’s dangerous.

If any tax authority decides to audit you, these Bitcoins (unless you are scrupulous about connecting your “real identity”) the government can easily connect you to those coins.

It is low risk unless you run afoul of the law, but liquidating that many assets in any fashion is going to attract tax collection.

R13

No. You can attempt to liquidate them, and launder them, but any purchase can be tracked with enough time. The problem is that quantum leaps in processing power is making searching the blockchain for transactions much easier. You can launder a coin a billion times and they can still find you.

Government that is losing control will attack indiscriminately at anyone trying to circumvent their powers.

r14............you really think the "tax authorities" in rural Portugal (Albufeira) are going to track me down for spending bitcoin to buy tomatoes at the local farmer's market........in a rural town..........(and yes, I have witnessed farmers taking them for purchases)......remember they are fractional.....you can spend $.30 in bitcoin if you want to..........for a pack of gum.......or whatever someone will sell you for that thirty cents..........

R16

You aren’t in Amerika, land of the unfunded pension.

When the government decides to take your money, it will take your money. You are in a better position than most Americans, though.

but aren't you supposed to link it to your bank account, of course govt. will have your ID.

When the inevitable crash happens will musicals be big again?

R11 is not R8.

Anyway, I’m very aware of capital gains tax. But it’s long term capital gains at least.

I think the vulnerability issue will result in a crash more so than the value issue. The original code has now been tweaked and rework and eventually someone will release a more stable, less energy intensive, more robust “coin”.

Ethereum is almost there.

Okay so can I put them in the candy machine to buy my Twix?

Seriously, what are they and how are they used?

[quote]but aren't you supposed to link it to your bank account,

No, they can be bought and sold without involving your bank account.

where to buy Ledger Nano S? only online? was trying to get one in my hands today. so i can buy bitcoin.

anyone bought it via atm in nyc?

anyone use wall of coins?

it starts trading next wk on major exchange. what will that do to the price? damn! i wished I bought it when i first saw this thread when the price was $6000! it's now more than doubled!

Moderation is really slipping if this thread with a shill and his personal email address at R5 is still here.

Bitcoin On Path To Functioning Just Like Real Currency After Small Concentration Of People Acquire Majority Of It.

I sold my two coins for $250 in like 2012 and thought I was doing well.

I still don't see a future in it. You can't buy much now with it. Now it's so volatile, no one will purchase with it as the price will change in seconds and the transaction fee is high. Verification times normally took ten to twenty seconds but direct exchange was as long as 30 hours in some cases during these high trading times.

There's no real point to it, unless you're laundering money or doing something shady because everything can be done above board and in the open with a dollar or Euro or whatever.

Bitcoins must be stored offline securely because an online exchange can be hacked. Bitcoins have never been hacked but the exchanges have (it's like robbing a bank). So you have to store them yourself to be sure with long secure passwords. The only way to know for sure you're computer is free of malware is to reinstall your O/S, then move your bitcoin to the wallet, then disconnect. To much trouble for now.

Eventually to buy anything of value you're going to have to convert your bitcoins and you'll need to pay tax or whatever you're trying to avoid, so why not do it in the first place?

prices went up today.

The fascination with bitcoin is typical of a sputtering recovery.

Pat Boone says just buy gold.

Most of the trading in Bitcoin right now is being driven by individual investors from Japan, South Korea and Vietnam. Asian countries have strong gambling cultures.

If William Devane aint endorsing, I ain't buying.

R33

The hype is unbelievable.

It is, almost to a beat, an exact replica of the mania around AOL Time Warner, but with a logarithmic frame.

Anything but $/£/¥/€ is valuable.

Turning and turning in the widening gyre...

I heard some financial guy on the radio talking about this and brought up the Beanie Baby boom of the late 90s. Didn't instill much confidence.

Japan is driving the boom.

I put a few hundred dollars into Ripple. It's appreciated by $3K now.

R38

A sovereign issued crypto backed by gold is going to be the winner.

Singapore is too small. China is too disastrous fiscally.

A cryptoruble is the most likely probability, backed by 6k tons of gold.

Get in, get it UP and GET OUT

That was the motto of gays and it's the motto of easy money. You too can be rich.

This has "Ponzi Scheme" written all over it .

R41

Not really. A Ponzi scheme is based on fraud.

The vast majority buying bitcoin know that they are gambling.

Cryptography and finance are the future, but bit coin is an imperfect vehicle. It will be a noble failure, but without something more than mathematics it will be replaced by better competitors.

The settlement time and expense for bitcoin has reached preposterous levels. Buying one today can take a few hours to a few days of processing time, at a significant premium cost-Two things that bitcoin was supposed to be superior to when compared to visa and MasterCard.

Oopsie!

Bitcoin plunges $1,000 in less than an hour

The digital currency fell from $17,929 to a low of $16,912 between 3:30 and 4:30 p.m. ET on Tuesday, according to Coinbase.

BItcoin is so over, buy Bitcoin Cash the fork of Bitcoin.

You can make millions, don't be left out

spam for today, all about fake money.

[quote]I put a few hundred dollars into Ripple.

Why? You could've bought some two-buck Chuck.

Did you get out at $16,000? Cause it's down under $14,000.

yep, i've been buying BTC since late 2014. it can be a pain in the ass to purchase, especially if you want to do it anonymously. i initially used Coinbase, but it would take several days for a transaction to clear. since then i've used many different exchanges, including Paxful (Western Union, though you can basically pay using everything from Amazon giftcards to cash deposits) and , most recently, localbitcoins (paypal). i haven't purchased BTC in several months, but apparently transaction fees have skyrocketed due to BTC's gains. it wouldn't make much sense to purchase a small amount of BTC at the moment due to transaction fees. it's insane that just two years ago one could buy 1 BTC for $200. This time last year BTC hadn't even reached 1k. In October, the last time I purchase, BTC was at ~7k.

That said, I would advise against investing in BTC at this point and instead look at up-and-comers like Monero. Feel free to ask me any questions!

CRASHEROONIE! Ha, where's shill OP now? Jumped off a ledge?

R48

Government is looking closely at the robust nature of block chain enabled transactions.

I will be called a Russian troll, but I am a fan of Elvira Nabiullina. She’s smarter than most. She has been running the central bank through the sanctions over Crimea, RussiaGate, BRI/EAEU negotiations...she’s magnificent.

She has already started a project to link the ruble to a cryptocurrency, a cryptoruble, fully convertible to gold @ 1mg per ruble.

It takes 50 ruble for a dollar, and a gram of gold is worth $40, or R2,000 for a gram, at current prices.

It would be a shock devaluation of 100% against the dollar, but gold transfer would quickly change that.
 As a stable sovereign nation, the cryptoruble would quickly be accepted and useful worldwide.

Russian expats would quickly open black-market branches where Nigerians, Vietnamese, Australians, Indians, Mexicans, and even Americans come to bring gold and exchange it for crypto ruble.
 Since it is a sovereign backed by gold very few companies or individuals would have any problem accepting it. The hardware is already available on chip readers and phones.

The sharp rise in Russia’s export cost would be a challenge for the first year, but the massive increase in what rubles will purchase on the international market would more than make up for it.
If gold hit $12,000 oz then Russians would be sitting pretty to have the next World Reserve Currency.

Bitcoin under $10,000 now.

r51

Bitcoin? Is that still around

those in the know realize this is a huge huge huge buying opportunity for all the major cryptos..............get a clue............

R53

Until you can use bitcoin to buy a cup of coffee without paying $25 in transaction fees it is a speculative asset.

Bitcoin enthusiasts are taking this little crash well

R55

Bitcoin is pre internet message board tech, literally.

Each iteration of the initial White Paper builds on the theory, and will eventually create a more robust version.

Like encryption, the underlying technology is far more important than Bitcoin itself.

so what's happening?

I have a hard bitcoin wallet, i haven't even opened it yet. I don't have an account anywhere, can someone send me bitcoin if i have this wallet?

The government can print money to cover debts. That, in and of itself, is deeply problematic. We will eventually turn this country into North Korea or Venezuela unless the federal reserve is abolished.

A colleague's wife bought one - just one - cause she is a financial something or other and she thought she should have one and she bought it for $400. We were sitting around talking about everyone's retirement plans when this came up and it seems her one bit coin was worth $14,00 that day. This was maybe a week ago.

Worth what? How can she spend it or live on it? Retire on it? It's fake money.

Do you want to make more money????

You misspelled "money." It's "money" in quotes.

I've only been hearing about bitcoin in spam emails from China, other than here.

Buy Etherium rather than Bitcoin. More likely to succeed in the long run, and although it's run up a lot, it's not ridiculous. Ehterium is more likely to become accepted anyway.

R60

The US dollar, British pound, your road, in, and yuan are all fake too.

YOUR ROAD-EURO

Bitcoin enthusiasts are so fucking dumb.

It's under 10,000 right now.

Also I believe that $500 for coin is more likely, it could conceivably hit $100,000 per fucking coin.

Markets are insane, Especially when the Federal Reserve is pumping billions every day into the economy.

Crazed.

$8814 as of now.

No interest in selling, though. They will retain historical value, like any two letter .com address, but will be supplanted by a better design soon.

it's crashing...

Under 6500 now.

R71

As markets keep going down, bitcoin might actually stabilize for a while.

The BOJ/ECB/PBOC/FED will be forced to monetize as this correction goes deeper and deeper.

When all your valuations are fake, denoted in fake money, finding the bottom will be very difficult for this market.

Eventually one of the four big central banks will directly monetize and the party will be on once again, for a few quarters, until the orgy of monetary easing turns dollars, euros, yuan and yen into toilet paper quasi simultaneously.

How did your predictions turn out, r72? Let's see...$5,500 is less than $6,500, isn't it?

Floor has fallen out on Bitcoin. Under 4,5000 now.

Bitchcoin

Dead. Ha ha! Suckers!

From the linked Wired article posted an hour ago:

The current downturn may relate to fractures in the bitcoin community. Last year, a group of bitcoin developers created an alternate version of bitcoin, known as a "hard fork," called Bitcoin Cash, to address technical issues in the original bitcoin. Bitcoin Cash didn't manage to displace the original, but it did gain a number of loyal followers. But last week, Bitcoin Cash saw its own hard fork. That schism doesn’t directly affect the original bitcoin, but the further fragmenting of the community might be scaring investors.

Long term, a possibly more worrying development is a US Department of Justice investigation reported by Bloomberg Tuesday into whether last year's record highs were the result of market manipulation. The investigation follows the publication of a paper by University of Texas professor John Griffin and his doctoral student Amin Shams suggesting another cryptocurrency called tether had been used to stabilize and manipulate the price of bitcoin last year.