Bitcoin

[tsptalk]

I certainly wouldn't call it a bargain since it is still up over 50% for the month, but bitcoin has fallen from its frenzy high this week of about $2800, down near $1900 this morning (currently back up to $2130.)

I have to admit that I nearly pulled the trigger to sell most of mine when it hit $2700 (I'm in under $1000), but I talked myself out of it. I told myself when I bought that I was going to be in this for the long-term, which is not my investment / trading nature, and so I fought the urge to take profits and try to buy it back cheaper. Yup, that would have worked, but I'm glad I stuck with my plan (psychologically, not monetarily).

Anyway, to occupy my mind I ended up buying a couple of Ethereum ($155), which is cheap by comparison and also down about 25% from its recent high. Etherium is different than bitcoin in many ways, but it is a crypto currency that has potential as well.

By the way, if any of you have been considering but haven't pulled the trigger yet, did you know that you don't have to buy a full coin? You can buy a dollar amount of bitcoin, $100 worth for example, and then you would just own a fraction of a bitcoin (0.04865885 depending on the current price).

Have a great weekend!

 

[dhstdog]

I use coin base as my wallet and love their trading platform GDAX.

 

[tsptalk]

When you get them in, you'll have to let us know if they look as good as they do in the picture!

Maybe compare them to your TSPtalk 'rounds' in shininess and detail. Being gold plated, I would guess that the detail would not be as good.

Pretty shiny...

 

[NewsFeeder]

Bitcoin is outperforming major assets but hedge funds are still staying away from the cryptocurrency

One hedge fund veteran told CNBC that the industry doesn't "know enough about it".

http://finance.yahoo.com/r/f3238d4f...&par=yahoo&doc=104498426&yptr=yahoo&.tsrc=rss

 

[tsptalk]

I certainly wouldn't call it a bargain since it is still up over 50% for the month, but bitcoin has fallen from its frenzy high this week of about $2800, down near $1900 this morning (currently back up to $2130.)

Yawn... New highs: $2,834 :yawn:

 

[1965Vintage]

$2940 this morning and climbing. When $3,000 hits I believe the panic buying will start as those on the sidelines don't wan't to be left out.
It will be interesting to see what the IRS tells Congress tomorrow and what, if any short term effect it will have on Bitcoin.

The IRS is Due to Present its Digital Currency Strategy to Congress Next Week - CoinDesk

 

[tsptalk]

The only stock I could find that looks worth buying is GAHC. Anyone interested in this technology may want to do some DD on GAHC. I bought a small amount to hold long term. I think it has huge potential.
Anyway. Im not pumping here. lol Just wanted to share my find.

I assume you still own it? Nice!

 

[1965Vintage]

I assume you still own it? Nice!

I'm afraid I sold it right before the big run up.:nuts: I made a profit on it, but nothing like I could have. I will be watching GAHC for a pullback and consolidation. I really had bad timing with that one! lol

 

[uscfanhawaii]

I'm afraid I sold it right before the big run up.:nuts: I made a profit on it, but nothing like I could have. I will be watching GAHC for a pullback and consolidation. I really had bad timing with that one! lol

Another 7% UP today!! Those of us waiting for the proverbial 'pullback and consolidation' are being left behind in the dust!!

It wasn't that long ago when I was asking Tom if he considered whether 1740 was a 'good buy'. I can't believe 2800+ !! :twak:

 

[tsptalk]

This looks primed for a cup and handle breakout... unless $3000 is going to be a top?

 

[dhstdog]

I buy $1500 a month automatically. If it is all gone tomorrow it is no different then Enron but it could be my Apple. Not interested in hitting the sell button. All the .46008 pieces add up to coins. Ha Good luck

 

[burrocrat]

cool. target acquired. search dhs wallet and vacuum digital coin. good as gold. roger that.

 

[tsptalk]

I buy $1500 a month automatically. If it is all gone tomorrow it is no different then Enron but it could be my Apple. Not interested in hitting the sell button. All the .46008 pieces add up to coins. Ha Good luck

That's quite an investment. I only do $50 every other week, but that was after I bought 2 "coins" to start.

That $3000 resistance and pullback gave another opportunity to save a few hundred bucks. I'm actually more interested in Ethereum lately and hope it pulls back more.

Good luck!

 

[tsptalk]

The cryptos are tumbling again. $2440 isn't cheap for bitcoin, but it's $600 of the highs made the other day.

 

[tsptalk]

Nice technicals...

 

[hotwings]

Tom,

Just curious, what made you decide to invest in Bitcoin? I'm still trying to learn more about cryptocurrencies in general before I dip my toe in the water. I see the potential here based on what I have read so far.

Thanks

Nice technicals...

 

[tsptalk]

Tom,

Just curious, what made you decide to invest in Bitcoin? I'm still trying to learn more about cryptocurrencies in general before I dip my toe in the water. I see the potential here based on what I have read so far.

Thanks

I was first introduced to it several years ago (maybe 2011?) while in a poker tournament, of all things, where the guy next to me was telling me about it. I thought it was interesting but shrugged it off not knowing much about how to get involved.

Then late last year I started to hear more about it and so I did some research and with many videos posted on youtube about how to get started, I bought my first bitcoin in December of last year, and then added another in January. Now I buy a small amount with an automatic buy program every other week.

My thought is, I can invest a couple thousand (at the time I started they were under $1000) and if the lofty predictions were anywhere close to expectations, I could potentially make enough to perhaps double my retirement account if the higher ends are reached in say 10 years. I thought it was worth the big risk that comes with it.

 

[tsptalk]

Investing legend Bill Miller likes bitcoin

Bill Miller likes Whole Foods deal, plus Valeant and bitcoin


He said it is his fund's largest holding - mostly because of the appreciation it has had - and says he has no plans to sell it yet.

 

[Tsunami]

Tom,

Just curious, what made you decide to invest in Bitcoin? I'm still trying to learn more about cryptocurrencies in general before I dip my toe in the water. I see the potential here based on what I have read so far.

Thanks

Speaking for me, the clincher was this 5/19/17 39-minute interview (subscription required unfortunately):
Trace Mayer on Why Bitcoin Is Now More Valuable Than Gold | Cris Sheridan | FINANCIAL SENSE

I said what the heck and bought one BC that evening of 5/19...and soon after 5 Ethereum, and some GBTC in my IRA...just small speculation amounts. They may be entering a long period of consolidation at this point, who knows.

Ah ha!...a quick search and I found Trace Mayer's website with that interview and many more: Bitcoin Knowledge Podcast – Learn about blockchain and fintech | Interviews with top people in Bitcoin, blockchain and fintech Enjoy!

 

[pmaloney]

Any problems doing taxes? Especially with TurboTax?
Thanks!:smile: