OT: Ray, how's your Bitcoin investment going?

[MattTuck]

Originally Posted by unterhausen

I saw that and this sort of thing has always been my problem with crypto. It's not safe if you can recover the key, and it's not safe if you can't recover the key. I wouldn't mind if my liquid assets were better protected, but it doesn't seem like this is the way to do it without a lot more thought than has been given so far. There have been big robberies of BtC too. Not to mention the guy that threw away his laptop that had $7 million on the hard drive. Probably worth $70million now, and forget about what it was worth at the peak. Wonder how many times that has been repeated over the years.

I keep forgetting to ask my son how his brightcoin investment is going. He bought when it was still going up, and pulled out his initial investment after it had gone up some, so I'm sure he's above water.

To my knowledge, the only robberies have happened are on exchanges and other third party platforms like online wallets. The underlying blockchain for btc has not been compromised. There have been attempts on some of the smaller coins to gain enough hashing power, to start stealing money (known as a 51% attack or a majority hash rate attack), but I'm not sure that has yet been effective on a popular coin.

[CunegoFan]

The crypto subreddits make for some fascinating reading. I don't own any crypto but I have become addicted to checking the subreddits every day. /r/buttcoin is hilarious.

I liked a recent post where someone was upset over being down 70% on his investment; and the community tried to left his spirits by telling him he wasn't doing too bad, most of them are down over 80%. This was, of course, in between those telling him now was the time to buy more. People didn't want him to miss his chance to lose 90% I guess.

[MattTuck]

And here we go again

[echappist]

what's the time period needed to exchange bitcoins to U.S. Dollars? I was under the impression that it may take a few days.

there may be quite a bit of price fluctuations between when the order is sent and when it actually gets processed

[MattTuck]

Originally Posted by echappist

what's the time period needed to exchange bitcoins to U.S. Dollars? I was under the impression that it may take a few days.

there may be quite a bit of price fluctuations between when the order is sent and when it actually gets processed

Depends on the method of payment.

If you do it in person with cash, it would be ~10 minutes, but you have to trust the person.

If you do it with a credit card on coinbase, I believe it is almost immediate as well. But I believe there is an additional fee.

If you do a SWIFT transfer, I think you're right that it takes more time.

[andeww]

Originally Posted by echappist

what's the time period needed to exchange bitcoins to U.S. Dollars? I was under the impression that it may take a few days.

there may be quite a bit of price fluctuations between when the order is sent and when it actually gets processed

When you cash out online via Gdax/Coinbase it takes a couple of days to fully process and appear in your bank account. However, it will match the actual rate you began the process at and it wont be affected by any fluctuation between that time and when it actually processes several days later. There are also physical Bitcoin ATMS that i believe are instant, but i have never used one.

[54ny77]

How can I short the etap 11 speed markets?

[oldpotatoe]

Originally Posted by 54ny77

How can I short the etap 11 speed markets?

too late, 11s etap is soooo yesterday...

[MattTuck]

Originally Posted by echappist

what's the time period needed to exchange bitcoins to U.S. Dollars? I was under the impression that it may take a few days.

there may be quite a bit of price fluctuations between when the order is sent and when it actually gets processed

Jim,

Hope you figured it out, and made a cool 18% since your post

[echappist]

Originally Posted by MattTuck

Jim,

Hope you figured it out, and made a cool 18% since your post

i'm way too risk averse for it, but I hope you were able to profit

btw, it is good to know at least the infrastructure allows one to make quick-ish transactions

[fiamme red]

Bitcoin looked like a bad investment in March. Not any more.

[jkbrwn]

Originally Posted by fiamme red

Bitcoin looked like a bad investment in March. Not any more.

Yeah, until it isn’t... again. I’m having flashbacks to 2018 all over again.

[Tony T]

Originally Posted by fiamme red

Bitcoin looked like a bad investment in March. Not any more.

It looked like a bad investment Friday
Not Today

[gngroup]

I finally dipped a toe in back in March. I’m up 4x since then. I’ve dipped several more toes along the way. It still seems like a risky investment but as it gains institutional interest and mainstream adoption (ie paypal), it feels less so with each day. Regardless, it’s been a great run and will probably continue to be a good hedge.

[jpw]

Supply side is tapering off (+18 million mined and less than 3 million to mine), and about 30% of mined permanently off the market (e.g. 'dust'). Just HODL.