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

[fiamme red]

I read somewhere that there have been a lot of Bitcoin purchases around $600 in the last few weeks. So that's what the government's stimulus checks are being spent on.

[redir]

Originally Posted by fiamme red

I read somewhere that there have been a lot of Bitcoin purchases around $600 in the last few weeks. So that's what the government's stimulus checks are being spent on.

IDK is that really that dumb? I'm one of the lucky ones who have had absolutely no consequences from this entire pandemic. I gave the last covid check to my sister who needs it a lot more than I do. I have no idea why the Gov is giving me money but heck I'll take it. After all it used to be mine in the first place

So being that it's 'free' money why not take it to the race track and see if you get lucky?

[martl]

Originally Posted by fiamme red

I read somewhere that there have been a lot of Bitcoin purchases around $600 in the last few weeks. So that's what the government's stimulus checks are being spent on.

With the way the markets are behaving in the moment, one can't really make much of a mistake... Buy what everyone is talking about,cash in your 8% the next day... The trick,as always,is: don't think this will last forever,and get out in time...

[Tony T]

35,000
...
34,000
...
33,000
...
32,000
...
31,000
...
32,000
...
33,000
...
34,000
...
35,000
...

[fiamme red]

Lost passwords lock millionaires out of their Bitcoin fortunes: https://www.nytimes.com/2021/01/12/t...-fortunes.html.

[Tony T]

I read years ago that the Winklevoss twins printed out their bitcoin passwords, then cut them into two (or more) pieces and then deposited them into safety deposit boxes at different banks.
https://www.nytimes.com/2017/12/19/t...tml?0p19G=6214

[redir]

Man that sure is a hard lesson to learn about password security.

A friend of mine lost a thumbdrive a long time ago with enough bitcoin today to make him a millionaire. But that was back when it was worthless too. I'm sure there are a lot of those out there.

[Tony T]

I wonder how many of those who lost passwords would have sold years ago when Bitcoin was near worthless. Password security for these guys was lax because of the low value back then. So they probably would have sold out at the first pop in value years ago.

[martl]

Originally Posted by redir

Man that sure is a hard lesson to learn about password security.

A friend of mine lost a thumbdrive a long time ago with enough bitcoin today to make him a millionaire. But that was back when it was worthless too. I'm sure there are a lot of those out there.

count me in, only i didnt mislay my thumbdrive, instead (even dumber) i gave my coins to MtGox

i'd never have had the nerve to hold on to them until today. Would have sold them when btc hit 100 the first time, the latest.

[marciero]

Originally Posted by fiamme red

Lost passwords lock millionaires out of their Bitcoin fortunes: https://www.nytimes.com/2021/01/12/t...-fortunes.html.

That article is the reason I checked in here. Man, I feel for these people. That has to be hard to take.

[likebikes]

HODL gang

[Louis]

Originally Posted by marciero

Man, I feel for these people.

But not too much - the one guy who's the focus of the story seems to have plenty of liquid investments to tide him over.

[Tony T]

If they bought 1 million in Bitcoin within the past 4 years and lost their password then I would feel sorry for them. But the guy who was the focus of the story had 7,000 bitcoins from back in 2011 when a Bitcoin was less than $5. Had he not lost his password, it’s probable that he would have sold years ago —. And then the story would have been how he “lost” $200 million by selling too soon.

Hey, I bought AMZN when it was $8, and sold it at $100, maybe the NYT could run a story on how i lost millions

[BobbyJones]

Originally Posted by Tony T

If they bought 1 million in Bitcoin within the past 4 years and lost their password then I would feel sorry for them. But the guy who was the focus of the story had 7,000 bitcoins from back in 2011 when a Bitcoin was less than $5. Had he not lost his password, it’s probable that he would have sold years ago —. And then the story would have been how he “lost” $200 million by selling too soon.

Hey, I bought AMZN when it was $8, and sold it at $100, maybe the NYT could run a story on how i lost millions

Not quite the same thing at all Tony.

Anyway, It's my understanding that there's an estimated $140bn worth that people are "locked" out of.

[Tony T]

Originally Posted by BobbyJones

Not quite the same thing at all Tony.

Hence the ""

…and just like that, Bitcoin back to 40,000.