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  • Do you invest in Bitcoin?

    Bitcoin seems to be dropping quite badly right now. Are you invested in Bitcoin? If so, are you currently worried? I’m not sure I’d be worried at this point. I think it’ll bounce back to the $6,000 mark in the not so distant future. It’s just a matter of time really. But, it’s anyone’s guess I suppose.


  • #2
    I know some who do, but not on a personal level. I personally never understood it and I don't trust the system. Is it one person in charge, or is it several?

    I think that our banking system with USD is messy and can use some work but Bitcoin and other cryptocurrency is either too far ahead of its time or a train wreck waiting to happen.

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    • #3
      Originally posted by TexasBorne View Post
      I know some who do, but not on a personal level. I personally never understood it and I don't trust the system. Is it one person in charge, or is it several?

      I think that our banking system with USD is messy and can use some work but Bitcoin and other cryptocurrency is either too far ahead of its time or a train wreck waiting to happen.
      I've lived abroad and have traveled around some. I can honestly say that all banking systems around the world are kind of untrustworthy. That might not be the exact word that I'm thinking of. But, I'll stick with that. In theory the price of Bitcoin can't go lower than the price that it costs to mine it. This in itself is kind of debatable since the cost of mining Bitcoin is different from country to country. With that said, it's somewhat like the price of oil. Not all oil costs the same to pump out of the ground. But, the price kind of levels around some arbitrary number based on several different factors.

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      • #4
        We all need to invest in Bitcoin, mark my words it'll pop #HODL

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        • #5
          Originally posted by Noah View Post
          We all need to invest in Bitcoin, mark my words it'll pop #HODL
          I do believe it probably will. I don't know if it'll be Bitcoin, but I think some cryptocurrency down the line will. Bitcoin is just the most popular right now. There's so much technology out there that's just waiting for people to tap into it. I wouldn't be surprised if in a few years one of the newer coins replaced it.

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          • #6
            Originally posted by Bart View Post

            I do believe it probably will. I don't know if it'll be Bitcoin, but I think some cryptocurrency down the line will. Bitcoin is just the most popular right now. There's so much technology out there that's just waiting for people to tap into it. I wouldn't be surprised if in a few years one of the newer coins replaced it.
            True, like how Bitcoin is slower than Bitcoin cash right now, you'd think the faster one would be worth more though! 🤣

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            • #7
              Originally posted by Bart View Post

              I've lived abroad and have traveled around some. I can honestly say that all banking systems around the world are kind of untrustworthy. That might not be the exact word that I'm thinking of. But, I'll stick with that. In theory, the price of Bitcoin can't go lower than the price that it costs to mine it. This in itself is kind of debatable since the cost of mining Bitcoin is different from country to country. With that said, it's somewhat like the price of oil. Not all oil costs the same to pump out of the ground. But, the price kind of levels around some arbitrary number based on several different factors.
              It just all seems like it can shift at any time. I know a lot of people believe in investing in them but I am just not there yet.

              And yeah banking in general is not all in truth so to speak. Banks rip people off all the time.

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              • #8
                I would like to try investing in bitcoin. I hope it's not yet too late for me to try this. have anyone here tried IQ Option?

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                • #9
                  Not Bitcoin exactly but I do invest in other crypto currencies.

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                  • #10
                    Nope, wouldn't touch it with a 10 foot pole.

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                    • #11
                      I do not. I don't hate on people who do but I think there is too much of a risk with them right now. I just can't fathom investing in something that hasn't been stable long term. I know most investments aren't stable but they at least hold their own for awhile.

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                      • #12
                        A friend of mine does. I intend to when my money is more stable. It is risky but if you have extra money, it can't hurt. It can spike at any time and you can end up with a nice chunk of interest when you cash out.

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                        • #13
                          Yes, not too much I am not worried I think it will rise again, and at least I will not lose anything. Indeed this is a good time to buy more bitcoin. Just only risk the money you dont need and you can afford to lose is something goes wrong.

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                          • #14
                            Right now, It's very risky to be invested in Bitcoin. The risks are manifold. The future of Crypto currency is unsure. The volatility in prices is devilish, You can be cleaned out overnight.

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