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Thread: Buying Altcoins/Bitcoins and investing in the stock market

  1. #346
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    BTC - From $8,795.50 to $34,973.20, up 297.6%

    AMZN - From $1186.00 to $3724.50, up 214.0%

    FB - From $182.78 to $269.80, up 47.6%


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  3. #347
    Viva la Rolen kaldaniels's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Boston Red View Post
    BTC - From $8,795.50 to $34,973.20, up 297.6%

    AMZN - From $1186.00 to $3724.50, up 214.0%

    FB - From $182.78 to $269.80, up 47.6%
    I don’t know if the % is wrong as well but Amazon is only at 3200-ish.

    You got me really excited.

  4. #348
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Oops, I guess my bad eyes saw a 7 instead of a 2. Will fix.

  5. #349
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    BTC - From $8,795.50 to $34,973.20, up 297.6%

    AMZN - From $1186.00 to $3272.77, up 176.0%

    FB - From $182.78 to $269.80, up 47.6%

  6. #350
    Viva la Rolen kaldaniels's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Boston Red View Post
    Oops, I guess my bad eyes saw a 7 instead of a 2. Will fix.
    Still up almost 5% today, I’ll take it. - Been pretty flat for several months.

  7. #351
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    doug obviously should have purchased Gamestop.

    $17.42 on 11/24/17 and $147.98 today. A cool 749.5%. Granted, you could basically have the same return from buying it 18 days ago when it closed at $17.69. Currently at $227 after hours, which would make for an over 200% return today alone.

    Some guy on Reddit has apparently turned $50k into $22 million in this whole GameStop fiasco. About $4.8 million is in cash now, so even if his $17 million in Gamestop stock and options go to $0 tomorrow (his options are showing a paper gain of 41,600%) he'll still come out okay on the deal.
    Last edited by Boston Red; 01-26-2021 at 05:49 PM.

  8. #352
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Boston Red View Post
    doug obviously should have purchased Gamestop.

    $17.42 on 11/24/17 and $147.98 today. A cool 749.5%. Granted, you could basically have the same return from buying it 18 days ago when it closed at $17.69. Currently at $227 after hours, which would make for an over 200% return today alone.

    Some guy on Reddit has apparently turned $50k into $22 million in this whole GameStop fiasco. About $4.8 million is in cash now, so even if his $17 million in Gamestop stock and options go to $0 tomorrow (his options are showing a paper gain of 41,600%) he'll still come out okay on the deal.

  9. #353
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Elon Musk chose Bitcoin for Tesla. Bitcoin is hitting record highs over $40k now.

  10. #354
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Boston Red View Post
    Elon Musk chose Bitcoin for Tesla. Bitcoin is hitting record highs over $40k now.
    Back in 2017 when Bitcoin jumped from around $1000 to $14,000 in less than a year, I remember reading an article where they were expecting it to reach $100,000 by 2025. I thought it was crazy, especially when it was back down to $3000 the next summer. With big players like Tesla jumping in and the inflationary environment we are going to be looking at with all the money flooding into the system, I don't see how it does not go to $100,000+

  11. #355
    Member Redsfaithful's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    There's still no "there" with Bitcoin, but I've stopped trying to understand it. I get it as a replacement for something like gold - does that use case support these prices? I also get it as something you can use to buy illegal drugs online, although I think I read it's not actually that private?
    Turning and turning in the widening gyre
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  12. #356
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    I've got nothing when it comes to Bitcoin or blockchain in general. I'm sure one of my kids will try to explain it to me someday, and I will give them the same look my grandparents gave me when I tried to explain to them how to set up their phone answering machine.

  13. #357
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Redsfaithful View Post
    There's still no "there" with Bitcoin, but I've stopped trying to understand it. I get it as a replacement for something like gold - does that use case support these prices? I also get it as something you can use to buy illegal drugs online, although I think I read it's not actually that private?
    My feeling on Bitcoin was it was kind of a niche thing and it would not be big unless it started to be used for mainstream purchases. That's why I think Tesla considering accepting it in exchange for a car is kind of a big deal. Maybe its an anomaly or maybe its the first domino to fall. I don't know.

    The gold comparison is an interesting one. Seeing Bitcoin as a 21st century store of value lines up with the function of gold in all the centuries prior - ignoring some of the obvious differences. A big difference for me between them and the reason I think Bitcoin moves way up if the Tesla thing is the start of something, is there is an actual finite number of Bitcoin. Its like 21 million and no way to add to it. With Gold there is a theoretical limit but every year there is like 3000 metric tons added and the higher prices are the more risk people are willing to take mine it in hard to reach places.

    The last point you raise on how private it is is a good one. If you run one of the Bitcoin full nodes, you have access to the block chain of every Bitcoin transaction made but it does not say who made it or what it was for - allegedly.

    You go back to like 2013-14, the US was adamantly opposed to Bitcoin, which makes complete sense. Security reasons, competition over control of the money supply, etc. But pretty much overnight their stance flipped 180 degrees with no structural changes in Bitcoin, so something must have changed to alleviate their concerns.

  14. #358
    Member Redsfaithful's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Manias can last a long time, I can't ever see it being a payment system with the limitations of the system. Other cryptocurrencies seem like they could be used to actually live life and buy/sell but everything I've ever read has said that if bitcoin had to process payments like Visa it would take hours to buy gum at a convenience store. Maybe they've fixed that somehow though, I am pretty out of date.
    Turning and turning in the widening gyre
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  15. #359
    Daffy Duck RedTeamGo!'s Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    I bought a weed stonk, $SNDL, at $1.05 last week and it’s at $3.50 today and climbing. Diamond hands friends.
    What would you say.....ya do here?

  16. #360
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Redsfaithful View Post
    Manias can last a long time, I can't ever see it being a payment system with the limitations of the system. Other cryptocurrencies seem like they could be used to actually live life and buy/sell but everything I've ever read has said that if bitcoin had to process payments like Visa it would take hours to buy gum at a convenience store. Maybe they've fixed that somehow though, I am pretty out of date.
    Visa, Mastercard and a number of other companies are going to legitimize it. I don't see it going away, it is going to get bigger and more entrenched over time. There are a number of cryto currencies out there - and I don't own any of them. Really kicking myself in the butt for not taking the time to understand these earlier.


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