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Just like that I'm taking a time-out from bitcoin...

I listened to the June 13th interview of Trace Mayer about the August 1st "BIP 148 fork" of bitcoin chains...
Bitcoin Knowledge Podcast – Learn about blockchain and fintech | Interviews with top people in Bitcoin, blockchain and fintech

...and then read this reply from coinbase regarding their plans for this event on August 1st (where I owned bitcoin until moments ago) which basically says, "sorry, but you are going to lose your bitcoin if you're still holding it on August 1st"...
https://community.coinbase.com/t/what-is-coinbases-plan-regarding-bip148/15391

...then I sold my 1.0000 bitcoins back into my bank account...over a 20% profit in four weeks so can't be too upset, but until the dust settles on this confusing BIP 148 thing, I'm worried there will be more and more sellers, so I'm out until that's resolved.

Still holding the ethereum though since that's immune to this issue and could even benefit from it if people flip from bitcoin to ethereum.

I may exit GBTC on Monday as well, for a small gain currently.
 
Thanks and and good luck with your investment.

tsptalk said:
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.
Click to expand...
 
evilanne said:
I still don't get it be this was interesting http://www.cnbc.com/2017/06/07/cramer-says-its-possible-bitcoin-could-reach-1-million-one-day.html
What's this world coming to?
Click to expand...

There's an appeal to bitcoin / crypto-currencies from many angles but yeah, some are nefarious. It was actually this side that first took advantage of bitcoin. The crooks seem to be smarter than the good guys, unfortunately. But it also makes an easy way to move money across borders, in particular developing countries, avoiding the large fees of a Western Union, so that's also one of the drivers of the cryptos.

The South Koreans, Japan, and China have been all over this and that has been a big part of driving the price up lately.
 
Tsunami said:
Just like that I'm taking a time-out from bitcoin...

I listened to the June 13th interview of Trace Mayer about the August 1st "BIP 148 fork" of bitcoin chains...
Bitcoin Knowledge Podcast – Learn about blockchain and fintech | Interviews with top people in Bitcoin, blockchain and fintech

...and then read this reply from coinbase regarding their plans for this event on August 1st (where I owned bitcoin until moments ago) which basically says, "sorry, but you are going to lose your bitcoin if you're still holding it on August 1st"...
https://community.coinbase.com/t/what-is-coinbases-plan-regarding-bip148/15391
Click to expand...

A site he recommended for BIP 148 info...

https://www.weusecoins.com/uasf-guide/
 
i read the whole article, but do not feel like i know much more about how the magic works. this part at the end caught my eye though:

Another reason why there don't immediately have to be two parallel chains is that the "Old-chain" will accept BIP148-blocks (because of the SOFT fork characteristics) such that there is no reason to immediately fork-off.
Click to expand...
 
By the way, get yourself a hard wallet or at least one on your PC. That's what I have learned from my research. If you have your bitcoin stored (the addresses) it is more safe than storing it on a 3rd party service like coinbase. I use jaxx.
 
tsptalk said:
By the way, get yourself a hard wallet or at least one on your PC. That's what I have learned from my research. If you have your bitcoin stored (the addresses) it is more safe than storing it on a 3rd party service like coinbase. I use jaxx.
Click to expand...

Yep, agree, I didn't have that with Coinbase so basically told them to "fork-off" and sold. :smile: I sold my GBTC today too at a profit, just wanted to step aside until this BIP148 thing is history. Still holding the ethereum though.
 
Bitcoin millionaire Erik Finman says going to college isn't worth it

[FONT=&quot]Erik Finman made a bet with his parents that if he turned 18 and was a millionaire, they wouldn't force him to go to college. Thanks to his savvy investments in bitcoin and the current all-time high valuation, he won't have to get his degree.[/FONT]
[FONT=&quot]"I can proudly say I made it, and I'm not going to college," Finman said.

He currently owns 403 bitcoins, which at the current $2,700 a coin puts his bitcoin value at $1.09 million. He also has smaller investments in other cryptocurrencies, including litecoin and ethereum.[/FONT]
Click to expand...
 
Today, June 20, 2017 India made Bitcoin a legal currency out of the blue. https://cointelegraph.com/news/suddenly-bitcoin-to-be-officially-legal-in-india
Australia is planning to do the same thing July 1. A
nd we no Russia is planning to do it Jan, 1 2018.

Also, it looks like segwit is going to keep the hard fork from happening. https://bitcoinmagazine.com/articles/bip91-segwit-activation-kludge-should-keep-bitcoin-whole/

To say I am super bullish on Bitcoin would be an understatement. :smile:
 
I went to Vegas and played in a couple WSOP events and plenty of the places accept bitcoin! ������
 
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