Long term Bitcoin..? not sure..

[aspkin]

What do we think here?

With the emergence of competing crypto currencies the long term prospect of bitcoin isn't looking that great.

I can see other currencies taking bitcoin's place eventually.

It could just be that bitcoin is leading the way and getting everyone comfortable with taking cryptocurrency only to let a competing coin take it's place sometime in the near future.

What is the next coin?

I'm thinking of slowly liquidating bitcoin and investing in other coins.

Is bitcoin days numbered?

[BiN4RY]

I've been following Bitcoin long before it went mainstream, and I would honestly say no.

It's pretty safe to say the economy of Bitcoin is driven primarily by Chinese money launderers and pump-n-dumpers at this point, and it's pretty notoriously being used for illicit purposes.

Cryptocurrencies in general is not a good long term investment, as they are far too volatile to be considered an investment and far too easily manipulated. I personally would vote strongly against "investing" into them.

[Play]

Bitcoin has paved the way- your right, but I think it's reached its peak. If I am wrong, then at least I cannot see it increasing in value significantly more than it has already.

Ethereum is the next one i see in line to come into the market. If your going to invest, that may be a good place to put it. It's gained slight traction over the last few months, increasing in value by 400% between Jan and now - yes I was kicking myself for procrastinating on investing in it!

I wouldn't invest in Bitcoin, but some other coins - most certainly.

Here's a neat site to see all the coins, and all important info in one place to help decide what to invest in - https://coinmarketcap.com/currencies/

[aspkin]

I hear a lot about Ethereum.

I'm not so much into investing as I am receiving bitcoin and too lazy to cash out so it sits there.

As a result I have bitcoin built up but I feel that's a poor decision long term.

Only time will tell but going forward I think it best to cash out.

[Play]

I'm not so much into investing as I am receiving bitcoin and too lazy to cash out so it sits there.

Its very easy to convert bitcoin to other coins...

https://shapeshift.io/#/coins

[yotano211]

the way I'm investing in Ethereum is by mining it with 6 rx480s, I have another open mining case coming on Monday and 6 more rx470s on Tuesday. With 6 rx480s I make about $20/day after power costs.

[aspkin]

Originally Posted by Play

Its very easy to convert bitcoin to other coins...

https://shapeshift.io/#/coins

Ah that's a good point!

[rafoman]

Don't sell just yet!!! http://www.coindesk.com/price/

[empirestate]

Originally Posted by rafoman

Don't sell just yet!!! http://www.coindesk.com/price/

Pigs get slaughtered.

[aspkin]

Of course it will reach $2000 eventually but it may come back down to $1200 before it does that.

I sold some to lock in the gains.

[empirestate]

Originally Posted by aspkin

Of course it will reach $2000 eventually but it may come back down to $1200 before it does that.

I sold some to lock in the gains.

Smart move to lock in gains whenever u get the chance. This is what smart traders do.

[vogeltron]

I have been very bullish on Crypto Currencies for many years now. I still think this is like the internet in the early 1990s. While the prices have risen drastically almost nobody knows about Bitcoin or the Alt coins.

I will be the first to say we are going to soar past Bitcoin $2000 then probably have a few hundred dollar retracement but long term Cryptocurrencies will prevail in my opinion. They are deflationary by nature and the networks continue to grow.

Very Bullish on Litecoin right now as it has successfully activated SegWit and Coinbase has adopted it so you don't have to use something like ShapeShift to purchase.

The future is extremely bright my friends. I SEE A RIP YOUR FACE OFF BULL MARKET COMING!!!!!!!!
__________________
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[rafoman]

Originally Posted by empirestate

Pigs get slaughtered.

These pigs have wings baby, bluuueeeee sky feels so good. Good luck with lock ins mate.

[newjerseymax]

Some China Airlines now accepting bitcoin. China will lead the way with crypto

[Play]

Originally Posted by aspkin

Of course it will reach $2000 eventually but it may come back down to $1200 before it does that.

I sold some to lock in the gains.

"1 Bitcoin equals 2471.92 US Dollar"

I didn't see that coming. Literally 10 days after your post.

...

Just read this "Bitcoin’s rise: $1,000 invested in 2010 would be worth $35 million today"

I think it will just go up! (even if it falls a few times along the way).

[verbalseduction]

Check out ripple
If you put $1000 into it today at 30 cents, you could possibly make 300K off that in 3 years if it hits $100
I believe it will as it will but time will tell

[Play]

Originally Posted by verbalseduction

Check out ripple
If you put $1000 into it today at 30 cents, you could possibly make 300K off that in 3 years if it hits $100
I believe it will as it will but time will tell

Over the last 7 days, lots of cryptocurrencies including btc/eth have been ascending. Ripple on the other hand was decreasing in value (for the most part). Clearly something isn't right there... If everyone else is on the increase.

Regardless, Ripple is still firmly in the top 3, just under Ethereum and Bitcoin - so clearly it does have value.

[empirestate]

Originally Posted by Play

"1 Bitcoin equals 2471.92 US Dollar"

I didn't see that coming. Literally 10 days after your post.

...

Just read this "Bitcoin’s rise: $1,000 invested in 2010 would be worth $35 million today"

I think it will just go up! (even if it falls a few times along the way).

You know what they say, if you see it on the news, it's time to SELL SELL SELL....

[yotano211]

Originally Posted by newjerseymax

Some China Airlines now accepting bitcoin. China will lead the way with crypto

China will also lead the way in hogging all the graphics cards.
I have 10 mining rigs going (45 gpu's) and I cant find enough rx470 or rx570 for a good price.

[unkown5454]

what is hash rate on those? out of box rx 580 is 22.5 mh/s on average for me

[empirestate]

Stop wasting your time with graphics card to mine. Go with ASIC hardware.


13.5 Th/s

[unkown5454]

i see those little boxes go into the thousands of dollars just for one....why?