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The Bitcoin (BTC) thread
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JayJuanGee Offline
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Post: #2601
RE: The Bitcoin thread
(03-31-2016 09:02 PM)Isaac Jordan Wrote:  
(03-31-2016 06:49 PM)JayJuanGee Wrote:  
(03-31-2016 06:44 PM)JayJuanGee Wrote:  You can also look at some posts of Isaac Jordan from January to see some of the outline of his plans in this thread. https://www.rooshvforum.com/thread-21537...pid1199978

By the way Isaac... are you able to give any status update regarding the extent that you may have been able to follow through with some of your original BTC investment plans?

I think that you may have mentioned doing some kind of two part approach that involves 1) steady investing on a periodic basis, and 2) employing some strategic attempts at investing more when BTC priceS dip

In the end, these can be a bit difficult to carry out, and the first one tends to be easier to carry out than the second one.

Thanks for bringing that up.

After being given a fantastic book on Bitcoin as a Christmas gift last December, I decided to allocate 10% of my cash savings (roughly $5,000) to it.

My initial goal was to simply dollar-cost-average my way in, $50/day, which would have taken me about three months. I wanted to get into the market sooner rather than later, as I'm quite bullish on BTC long-term (as evidenced here), and I figured waiting would only see a higher price-besides, I was already frustrated at having just missed two- and three-hundred dollar prices a few months beforehand, and didn't want to make the same mistake twice.

So I opened a Circle account and started buying on the first of the year, when prices were in the $430s. I was consistent in my daily purchasing until the Hearn letter, when prices dropped nearly 20% over the course of a day. At that point I had only been using Circle for a few weeks and was still limited to I think $100/day, so I quickly opened a Coinbase account ($3,000/day starting limit) and bought a couple coins while the price was in the $360s. I bought a few more later in February while prices were still around $380, and with my last dollar spent I ended up averaging $375/coin.

For those curious, it took five weeks for Circle to raise my purchasing limits. Coinbase took about a month, and then they raised them again another month after that.

I've been satisfied with my position since I wrapped up my purchasing, but if the price drops below my current average I may buy another couple of coins. The more I read about Bitcoin the more I'm convinced it's really going places.


Thanks for that update.

Sounds as if you have done pretty good so far, in terms of average price per BTC.


Besides buying BTC on dips below $375-ish, what's your other plans going forward?

Actually, I told my GF that she needs to stop getting caught up on buying below her average price per BTC, because when you buy, the main thing that matters is that you sell higher than you buy, rather than whether buying causes your average price per BTC to go up.

Regarding prices going up, and a plan.. you should consider some kind of plan... at least have some kind of an outline of a plan.

Previously, I had linked this thread to show some of what had influenced my earlier thinking on the point of having a plan on the way up.

What if prices go to $600?

$800?

$4,000?

In real life, I have talked with quite a few people about buying bitcoins, but only a very few have actually followed through with buying coins. Therefore, in real life, I tend to harp on real people, who have actually invested in BTC regarding their plan(s) in the event that BTC prices go up.

I tend to be kind of a planner; however, I have found that with real people in the real world, there tends to be some reluctance to really outline a plan (and to express it)... and there seems to be a bit of a tendency to assert that they (the BTC investors) will decide what to do, as the situation unravels.... and it depends.. etc etc etc.

I am kind of like that too, to keep things kind of vague and flexible, but I also have outlined various selling points for myself at various price points along the way.

In essence, I trade BTC between 30% and 100% of the profitable portions of my BTC holdings as the price is going up (and higher percentages are triggered at higher price points). So, in this regard, if I hold 100 BTC, I am authorized to sell up to $100 for every dollar that BTC prices go up, and I have various other rules that limits me from catching up or selling if I had failed to sell earlier (even though I may lump together and sell $1,000, for example, if the price went up $10)...

Anyhow, even though I am selling, I am also replacing, and essentially, I am not really planning (so far) to cash out completely of my BTC trading portfolio while BTC is under $2,000. It may sound like pie in the sky price point, but my mom thought that I was talking pie in the sky prices when I was talking about $400 prices while the price was floating, seemingly forever, in the lower $200s.... She is a bit more receptive of some of my higher price speculations in recent times... even though there remains some healthy skepticisms.... hahahahahaha
(This post was last modified: 03-31-2016 09:36 PM by JayJuanGee.)
03-31-2016 09:34 PM
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Isaac Jordan Offline
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Post: #2602
RE: The Bitcoin thread
(03-31-2016 09:34 PM)JayJuanGee Wrote:  Besides buying BTC on dips below $375-ish, what's your other plans going forward?

As boring as it sounds, I'm very much planning to hold for the long term. I've got a good number of other projects I'm working on, and as much as I enjoy reading about and following bitcoin, trading it would take too much time/energy.
04-01-2016 09:01 AM
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JayJuanGee Offline
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Post: #2603
RE: The Bitcoin thread
(04-01-2016 09:01 AM)Isaac Jordan Wrote:  
(03-31-2016 09:34 PM)JayJuanGee Wrote:  Besides buying BTC on dips below $375-ish, what's your other plans going forward?

As boring as it sounds, I'm very much planning to hold for the long term. I've got a good number of other projects I'm working on, and as much as I enjoy reading about and following bitcoin, trading it would take too much time/energy.

I agree that trading is a more involved activity.


I seem to recall that you continue to have some kind of fiat (dollar I think) income, and accordingly, I hope that your bitcoin investment is not completely stagnant at $5k... and in that regard, dollar cost averaging remains a good ongoing practice.. especially since you have already set up various accounts (on Circle and Coinbase). Accordingly, it would likely be a good idea to pick a days of the week or month and an amount and then just dollar cost average to continue to accumulate (especially since you seem to view bitcoin as bullish).

Accordingly, you could pick, $10 per week on every Saturday or some other reasonable amount and time that works with your budget and scheduling (which could be every two weeks or whenever you get paid from income source z).

On the other hand, if you feel overinvested in BTC, and you do not want to trade or sell any (as you indicated), then you would just hold your investment like you are doing... and wait until such a point that you no longer feel over invested.
(This post was last modified: 04-01-2016 09:13 AM by JayJuanGee.)
04-01-2016 09:10 AM
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JayJuanGee Offline
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Post: #2604
RE: The Bitcoin thread
Look at the below website, and we see ETH price predictions.



https://www.tradingview.com/chart/ETHBTC...l-Edition/

Surely, there are some ETH/BTC relationships with price speculators.

In recent months (4 months approximately), we had movement in ETH prices from $1.50 to $14 and currently back down to $7.50, as I type.. which is around .019 BTC/ETH.

Some are predicting .01 BTC/ETH as the target buy price.

Yeah.. sure... of course some people are trading ETH to BTC, and I've seen several of these kinds of discussions.

At some point, ETH's performance may become pegged to BTC in a variety of ways; however, to me, discussion of ETH's value in terms of dollars seems much more relevant to me. In that regard, ETH needs to continue to develop and come of its own in terms of its dollar market cap.

Likely, ETH will not take as many years as BTC in order to establish various independent networking effects (speculation, liquidation, consumer uses) because it can bounce off of the coat tails of BTC in order to take less time... Nonetheless, I would consider that ETH has several more years of speculation and value creation.. and if ETH can make it through some of the likely upcoming up and down volatility (probably mostly down in the coming months). and come up with some kind of value proposition (that will not be absorbed into BTC), then maybe they may be able to return to glory days of $14 or even $100 at some point? ... but for the time being, $5 seems to be a generous valuation of ETH, and likely below $2 would be more realistic and reasonable.

BTC, on the other hand, if we can get into the next price upsurge - that is getting above $470 which will likely shoot us to $600+ (maybe 40-50% chance in the next 4 months) we could be hovering between $450 and $550 for some time before possibly moving into an upsurge to $800 that brings us back to $550 to $650 (and maybe even an attempt at pushing down to sub $400s) - and subsequently exploding into the $3 to $5k bubble territory (maybe even thereafter returning to a $1.5k to $2k territory for some time before bouncing into $10k plus?) 2-3 years? maybe maybe not that long..?

The BTC security infrastructure is already ready for $10k plus... that's fairly certain.. .but the user-friendliness of BTC's various apps, seems to be more in the sub $1k price territory, at the moment... hahahahahhaha


Possibly, BTC's user-friendliness will come with a bit more of a BTC price push? If we get to the $3k to $5k price territory, surely some companies (or individuals) are going to become inspired to make and to market some of those user-friendly "killer" BTC apps, no?
04-12-2016 11:56 AM
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JayJuanGee Offline
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Post: #2605
RE: The Bitcoin thread
If it is true or not, the below article is pretty interesting in the crypto / innovation space regarding airbnb..




http://qz.com/657246/airbnb-just-acquire...n-experts/
04-12-2016 02:37 PM
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CleanSlate Offline
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Post: #2606
RE: The Bitcoin thread
Hopped on the bitcoin bandwagon with 1k usd to start with. Using Coinbase.

Question - what's the difference between BTC Wallet and BTC Vault?
(This post was last modified: 04-12-2016 03:19 PM by CleanSlate.)
04-12-2016 03:14 PM
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Post: #2607
RE: The Bitcoin thread
(04-12-2016 03:14 PM)CleanSlate Wrote:  Hopped on the bitcoin bandwagon with 1k usd to start with. Using Coinbase.

Question - what's the difference between BTC Wallet and BTC Vault?

You can read up about the Vault on coinbase. It's one of the only services that offer such a concept, and it is a way of storing your coins with supposedly more security, and that means that it takes further verification to get them out and at least a 48 hour waiting period. It could come in handy if you were told the release your bitcoins or you would be shot, because they would have to hold you for at least 48 hours to make sure you accomplish all the steps (and then shoot you after getting your coins).

With the vault, you don't really escape the exchange risk (meaning that the exchange still holds your private keys, rather than you holding the private keys).
(This post was last modified: 04-12-2016 05:12 PM by JayJuanGee.)
04-12-2016 05:07 PM
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Post: #2608
RE: The Bitcoin thread
I think it remains good and relevant to bat around our various aspects of our personal BTC holdings, personal strategies... including buying/selling strategies in order to attempt to improve our understanding of our BTC positions in comparison with what others are doing... But no real need to reveal exactly how many BTC that we hold (unless we feel like it is a good idea, especially, if we are just beginning to accumulate some kind of a BTC stash).

Anyhow, I have come across quite a few people in BTC forums and also in real life who really seem inclined towards too much risk taking and gambling with their BTC holdings in order to attempt to get rich...

My opinion is that when we use BTC as a vehicle towards gambling we become considerably and too much emotionally invested in becoming rich through BTC. .. then we start doing dumb things and even saying (posting) dumb things because we begin to notice that BTC prices will not go in the direction that we want/bet (for example, we begin to believe that BTC prices are not going up quickly enough).

Frequently, I have to fight back my own inclinations towards attempting to gamble through my BTC allocated funds....

For example, yesterday, BTC prices were hovering around the lower $425s (on Stamp).... and the situation seemed really poised towards moving up.. At that point, I was beginning to consider that the odds were in the 80/20 - ish arena that BTC prices were poised towards going up within the next hour or two. I began to think that I could make some quickie money, if I bet a bit on green... Accordingly, I took about 30% of my BTC allocated fiat, and I used that to buy at around $425.17. Then for about the next hour, prices went up and down and up and down... and I said, "Shit. That is really stupid of me to buy BTC on the way up when my overall BTC philosophy is to buy BTC on the way up and to sell on the way down."

Really at that moment I should have been planning to sell BTC rather than buy.... but to sell only if the BTC price goes up to meet my sell point (which was above $426 at that time)... and I said to myself,

"shit!!! what if BTC prices go down from here, and then I am going to be screwed because I am not going to have very much fiat in my BTC fund to buy BTC (because I had just used 30% of those allocated funds to bet on green, rather than saving those funds in case the short term outcome is red rather than green)..." I reflected that my behavior had been fucking stupid.... for me to take chances with my BTC funds and to be under stress about it... and really, even though the odds had appeared to be 80/20 in favor of Green, I realized that there are a fuckload of BTC price manipulators who want us regular people to bet rather than to have a trading plan (and then those manipulators force BTC prices in the opposite direction of what we had expected).

I said to myself, "fuck, i cannot be gambling with my BTC funds like that." Thereafter, in the next couple of hours, BTC prices kept bouncing back and forth, and little by little I was able to sell back those BTC that I had bought the $425.25 territory (almost no profit.. just purely reallocation of my funds).

Also, even though a few hours later, BTC prices shot up to $430, I had been much relieved to get my BTC portfolio into the proper allocation of selling on the way up and buying on the way down.. in order that I would not be gambling with my btc allocated funds.... .

So, in essence I believe that many of us have an inclination towards gambling with our BTC allocated monies, even when we attempt to be very diligent, disciplined and cautious about following some kind of a pre-formulated buy/sell strategy.
04-16-2016 01:33 AM
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JayJuanGee Offline
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Post: #2609
RE: The Bitcoin thread
Wow!!!!

It's looking really good and exciting for Bitcoin these days, and it appears that there are five companies working on various implementations of the Lightning network with the some of those implementations projected to go live within a few months.

https://bitcoinmagazine.com/articles/gre...1461077424
04-19-2016 01:38 PM
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JayJuanGee Offline
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Post: #2610
RE: The Bitcoin thread
Decent BTC price movements in recent days and weeks..... and beginning to feel a bit more safe from sub-$400 price territories


$450 and $467 are previous resistance points.... so it will be interesting to make it passed these two resistance points.

Accordingly, it seems that if we can get prices into the $470s or $480s, there could be a decent path towards the $650 arena...

Thoughts, anyone?
04-20-2016 10:23 AM
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JayJuanGee Offline
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Post: #2611
RE: The Bitcoin thread
The below article gives a pretty decent overview of segregated witness and the anticipated timeline

http://www.reddit.com/r/Bitcoin/comments...m_idea_to/

Some credit may go to segregated witness's status in terms of this latest BTC price optimism, no? Currently, as I type, floating in the $447 to $449 territory.
04-21-2016 01:59 PM
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Satoshi Offline
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Post: #2612
RE: The Bitcoin thread
[Image: thRecordPlayer.gif]
(This post was last modified: 04-21-2016 03:38 PM by Satoshi.)
04-21-2016 03:35 PM
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JayJuanGee Offline
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Post: #2613
RE: The Bitcoin thread
(04-21-2016 03:35 PM)Satoshi Wrote:  [Image: thRecordPlayer.gif]


Hi Satoshi:

Have you turned into a troll, or is there some kind of topical meaning behind your posted image?

I'm reading it as a broken record, but really, a few descriptive words from you could be helpful to understand the extent to which you may continue (or not) to act out your butt hurt. Blush
(This post was last modified: 04-21-2016 04:38 PM by JayJuanGee.)
04-21-2016 04:36 PM
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Post: #2614
RE: The Bitcoin thread
Woops...

Since I had made a duplicate post... I may as well attempt to add a bit of content.


Guys who have been following bitcoin may have recognized that for the past several months there has been a lot of unsuccessful efforts to push BTC prices below $360, then $380, then $400.

There are fundamentals behind these failed attempts at pushing down BTC prices and therefore a certain momentum change in the BTC price direction and also difficulties to go back below those price points.

For example, in retrospect we can come to realize that the price point of $350 had become a pretty solid floor in recent months, and earlier during most of 2015, $200 had become a pretty solid price floor.

We only come to realize some of these matters after the fact, and after we make sure that our perspective has not become too clouded by either being butt hurt or by following various mainstream information sources.

In fact, we may not have realized some of these price dynamics until after reviewing price performance and trade volume spikes along with development fundamentals.

In the past few days, we have had a decent price run up to $452, yet we cannot rest on those kinds of laurels... Even though the momentum looks good, and the odds look pretty decent that we are going to at least toil with the $460s in the coming days, we could also experience a considerable price correction, so we should be prepared for either direction in bitcoin's prices... for example to pick up a few more coins on dips, or to sell a little bit of our investment to protect ourselves.

Personally, I remain disinclined to sell very much because the recent price run up has caused me to stack up quite a bit of fiat in order to be able to buy back in the event of some kind of short term (or even longer term) price correction.
(This post was last modified: 04-21-2016 04:49 PM by JayJuanGee.)
04-21-2016 04:37 PM
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JayJuanGee Offline
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Post: #2615
RE: The Bitcoin thread
Another bullish bitcoin article for today...

http://www.zerohedge.com/news/2016-04-21...about-soar

go figure.. bullish articles do come out while bitcoin's prices are on the upbound.
04-21-2016 10:58 PM
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Satoshi Offline
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Post: #2616
RE: The Bitcoin thread
(04-21-2016 04:36 PM)JayJuanGee Wrote:  
(04-21-2016 03:35 PM)Satoshi Wrote:  [Image: thRecordPlayer.gif]


Hi Satoshi:

Have you turned into a troll, or is there some kind of topical meaning behind your posted image?

I'm reading it as a broken record, but really, a few descriptive words from you could be helpful to understand the extent to which you may continue (or not) to act out your butt hurt. Blush


Yeah just saying that the record is broken, Jay.

Anyway, do you get any interest on your bitcoins? Can lend them for 0,03% daily interest rate at poloniex. That 10% yearly, quite good.
04-22-2016 12:53 AM
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JayJuanGee Offline
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Post: #2617
RE: The Bitcoin thread
(04-22-2016 12:53 AM)Satoshi Wrote:  Yeah just saying that the record is broken, Jay.

I still don't quite get the broken record analogy... because bitcoin seems to be quite in a different place.... every month and every year because it is an evolving, developing and ultimately growing system.

On the other hand, my ongoing comments in this thread over the past couple of years may seem like a broken record because I have remained bullish in respects to bitcoin since posting in this thread and have often repeated various bullish ideas (not exclusively bullish, but continuing to invest type of bullish)


(04-22-2016 12:53 AM)Satoshi Wrote:  Anyway, do you get any interest on your bitcoins? Can lend them for 0,03% daily interest rate at poloniex. That 10% yearly, quite good.

This could work for some people who don't mind using some of their BTC to invest in sure fiat returns.... because, as you suggest 10% is nothing to sneeze at, especially when banks are offering very tiny and sometimes even negative interest rates... in regards to fiat.

Part of the problem with this strategy seems to be that a guy does not get paid back from such a Poloniex loan in BTC but instead in fiat.... which could be pretty risky to take those BTC out of commission for the purpose of earning fiat interest, especially if BTC has a few explosive growth periods.. which really seem to becoming higher and higher likelihoods in the near future. ...with the current fundamentals

Personally, I do not invest in bitcoin in order to invest in fiat returns; however, I do measure the status of my BTC portfolio based on fiat value, and yep my BTC portfolio remains to serve as a hedge to my other fiat investments. If anyone were to invest BTC into such a Poloniex loan as you pointed out, they would need to consider such potential10% return as part of their fiat investment portfolio.



By the way, Satoshi, are you considering the Poloniex loan investment? You must consider that to be a fiat investment, as I suggested above, right?... and have you come around to recognize the upside potential of BTC yet (which we have already experienced in the past 8 months), or are you still bearish regarding BTC while it seems to be on the verge of another potential upward explosion... whether that be in the coming weeks or months?
(This post was last modified: 04-22-2016 11:09 AM by JayJuanGee.)
04-22-2016 11:01 AM
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Post: #2618
RE: The Bitcoin thread
(04-22-2016 11:01 AM)JayJuanGee Wrote:  I still don't quite get the broken record analogy... because bitcoin seems to be quite in a different place.... every month and every year because it is an evolving, developing and ultimately growing system.

Actually it's not evolving, developing nor growing. It didn't change much at all actually since the blockchain was started.

(04-22-2016 11:01 AM)JayJuanGee Wrote:  On the other hand, my ongoing comments in this thread over the past couple of years may seem like a broken record because I have remained bullish in respects to bitcoin since posting in this thread and have often repeated various bullish ideas (not exclusively bullish, but continuing to invest type of bullish)

Yes Sir. Your post six months ago are not much different from the post you did yesterday. That's why I'm saying, the record is broken.

(04-22-2016 11:01 AM)JayJuanGee Wrote:  This could work for some people who don't mind using some of their BTC to invest in sure fiat returns.... blablablablablablablabla and more blablabla


I'm pretty sure if you lend BTC you'll get interest in BTC.
(This post was last modified: 04-23-2016 08:48 AM by Satoshi.)
04-23-2016 08:48 AM
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Post: #2619
RE: The Bitcoin thread
(04-23-2016 08:48 AM)Satoshi Wrote:  
(04-22-2016 11:01 AM)JayJuanGee Wrote:  I still don't quite get the broken record analogy... because bitcoin seems to be quite in a different place.... every month and every year because it is an evolving, developing and ultimately growing system.

Actually it's not evolving, developing nor growing. It didn't change much at all actually since the blockchain was started.


I don't know why we have a different point of view, here, but it seems that we do. You seem to be failing and/or refusing to recognize a variety of networking and development effects in bitcoin. Surely, these may seem subtle, but they are not... There is no real reason to argue on this point, especially if you are working with the presumption that bitcoin is the same now as it was in 2009 - or even the same as it was in 2013. There has been millions invested and a considerable infrastructure built, but you want to act like none of this exists, it seems?



(04-23-2016 08:48 AM)Satoshi Wrote:  
(04-22-2016 11:01 AM)JayJuanGee Wrote:  On the other hand, my ongoing comments in this thread over the past couple of years may seem like a broken record because I have remained bullish in respects to bitcoin since posting in this thread and have often repeated various bullish ideas (not exclusively bullish, but continuing to invest type of bullish)

Yes Sir. Your post six months ago are not much different from the post you did yesterday. That's why I'm saying, the record is broken.

Yes, maybe this was your main point, in initially posting the broken record, without further explanation.

I beg to differ regarding the content of my own posts. Even though I remain bullish, and some of my ideas may recirculate, my posts cannot be exactly the same because some of my perspective has changed... Anyhow, seems quite irrelevant, because even though I post a lot, here, I am not the topic of this thread... Confused



(04-23-2016 08:48 AM)Satoshi Wrote:  
(04-22-2016 11:01 AM)JayJuanGee Wrote:  This could work for some people who don't mind using some of their BTC to invest in sure fiat returns.... blablablablablablablabla and more blablabla


I'm pretty sure if you lend BTC you'll get interest in BTC.


Your summarizing my posts as "blablabla and more blablabla" seems to indicate the extent to which you are reading what I am saying or attempting to understand it.

Anyhow, whether you are correct or not regarding Poloniex, I don't give a shit about Poloniex's lending program because I suspect that most lending programs have the potential to 1) tie up your money and 2) potentially put your money at risk from either 3rd parties or loaning out risk... .

Anyhow, I am not interested in complicating my BTC investment any more than it already is in order to attempt to get 10% interest on a loan program.... at least not at this point in my bitcoin investment. I also recognize that some of the bitcoin naysayers and alt coin persuers are frequently attempting to chase a higher percent of return.. Sure, it may work some time, but I am just not interested in complicating my situation more than it already tends to be with other aspects of my juggling my money around.. and other life activities.
04-24-2016 12:35 AM
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Post: #2620
RE: The Bitcoin thread
I appreciate your posts about this topic, JayJuanGee. Thanks.

I just added bitcoin as a donation option for some of my work. Kept getting more requests for that. Immediately, someone tossed in a generous amount. I'll see how it goes.
04-24-2016 06:42 AM
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Post: #2621
RE: The Bitcoin thread
(04-24-2016 06:42 AM)Gilders Wrote:  I appreciate your posts about this topic, JayJuanGee. Thanks.

I just added bitcoin as a donation option for some of my work. Kept getting more requests for that. Immediately, someone tossed in a generous amount. I'll see how it goes.


I would like to hear more about your business (work), and how you have incorporated bitcoin and how you consider proceeding with bitcoin acceptance. Do you use the blockchain app or some other app?

Do you have an online component to your business? How are you incorporating the payment mechanisms? Are you the only person who accepts payments on behalf of your business? Do you keep separate accounts or commingle your bitcoin accounts?

On a more personal, how long have you been involved in bitcoin, and if you have been involved for a while, what has been your process of acquiring and/or accumulating bitcoins?
04-25-2016 01:34 PM
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JayJuanGee Offline
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Post: #2622
RE: The Bitcoin thread
By the way, it is a bit ridiculous how much the GBTC (BTC related stock) investment fund has shot up in the past couple of weeks... If it is not more volatile than regular BTC, it certainly is premium priced. In the past several hours, it shot up to $770, and as I type it is trading at about $736... wowsie!!!


https://tradeblock.com/markets/gbtc/xbt-usd/1d/
04-25-2016 01:40 PM
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JayJuanGee Offline
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Post: #2623
RE: The Bitcoin thread
Below is a decent article that provides some explanation for the recent and current btc price rise

https://bitconnect.co/bitcoin-news/127/b...-revealed/
(This post was last modified: 04-26-2016 01:07 AM by JayJuanGee.)
04-26-2016 01:06 AM
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Gilders Offline
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Post: #2624
RE: The Bitcoin thread
(04-25-2016 01:34 PM)JayJuanGee Wrote:  I would like to hear more about your business (work), and how you have incorporated bitcoin and how you consider proceeding with bitcoin acceptance. Do you use the blockchain app or some other app?

Do you have an online component to your business? How are you incorporating the payment mechanisms? Are you the only person who accepts payments on behalf of your business? Do you keep separate accounts or commingle your bitcoin accounts?

On a more personal, how long have you been involved in bitcoin, and if you have been involved for a while, what has been your process of acquiring and/or accumulating bitcoins?

I run an online service and publish articles, which are funded with donations. I do other things as well, but they're not relevant.

I simply added bitcoin as a donation option. Just to see what would happen. It's the first time I do something with bitcoin. Got a BitGo account to try it out. I'll let donations accumulate there and will transfer them to a personal account later.

I haven't had a reason to spend much time investigating bitcoin. So much else to do. Now that I have set things up, I'll think about it more. Once I have amassed a significant amount of coins, I'll evaluate. To me, it's one of many experiments.
04-26-2016 04:44 PM
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JayJuanGee
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Post: #2625
RE: The Bitcoin thread
(04-26-2016 04:44 PM)Gilders Wrote:  
(04-25-2016 01:34 PM)JayJuanGee Wrote:  I would like to hear more about your business (work), and how you have incorporated bitcoin and how you consider proceeding with bitcoin acceptance. Do you use the blockchain app or some other app?

Do you have an online component to your business? How are you incorporating the payment mechanisms? Are you the only person who accepts payments on behalf of your business? Do you keep separate accounts or commingle your bitcoin accounts?

On a more personal, how long have you been involved in bitcoin, and if you have been involved for a while, what has been your process of acquiring and/or accumulating bitcoins?

I run an online service and publish articles, which are funded with donations. I do other things as well, but they're not relevant.

I simply added bitcoin as a donation option. Just to see what would happen. It's the first time I do something with bitcoin. Got a BitGo account to try it out. I'll let donations accumulate there and will transfer them to a personal account later.

I haven't had a reason to spend much time investigating bitcoin. So much else to do. Now that I have set things up, I'll think about it more. Once I have amassed a significant amount of coins, I'll evaluate. To me, it's one of many experiments.


Yeah, there is only so much time in the day, but setting up such an account does seem to cause an incentive for you to look into the matter.

When I find people in real life who are interested in finding out about bitcoin, I frequently suggest that they start out small by setting up an account to purchase bitcoin, and then on about a weekly basis invest a small amount that you can afford.. such as $10 per week.. or some other amount that is reasonable for you... over the years, you will likely learn more and be grateful for your early investment, even though it seems a fairly small amount and the price could go either way during the time that you are dollar cost averaging into having a higher stake in it.

Also, I would not expect anyone to have time to read all the posts in this thread, so if you have any questions don't hesitate to ask... and maybe some day (when we reach either $800 or $3k prices), some other RVF guys will chime in, too... Angel
04-26-2016 05:45 PM
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