Discussion in   General Discussions   started     6 years ago   January 28, 2018, 04:53:45 AM   by   Mandy Bear

For Dante about Bitcoin

Mandy Bear
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Topic :   For Dante about Bitcoin
6 years ago  January 28, 2018, 04:53:45 AM

I just watched a documentary called "The Rise and Rise of Bitcoin". It was a selection on my Showtime account.  It highlights how it works in detail, the big players, the innovative ways it's being used by people, (including illegal), the successes and failures of people using it, and the ups and downs its experienced since its inception. Because it's an independent film not associated with Showtime you may be able to acquire a copy from Amazon or some other internet source.  My own opinion:  It's worth watching for anyone deciding to use Bitcoin for their business transactions.

Crippledfist
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#1 Re :   For Dante about Bitcoin
6 years ago  January 29, 2018, 11:25:44 AM

Just watched it. Interesting documentary. It aired in 2014 so some stuff is old but cool to see some of the history like Mt Gox. One thing that should be understood is if you are investing and holding bitcoin, don't keep it at an exchange of course. Download it onto a physical wallet. But for trading like stocks, bitcoin is great for investment and I keep my crypto coins at a large reputable exchange.

At the time that documentary aired, bitcoin was at $400 per, if you had put in $1,000, you would now have around $28,750.
Or during the documentary when the guy gave up on mining, bitcoin was at $150 per. That $1,000 would be $76,590 now.

If you had sold in December it would have been $47,500 or during filming at the $150 per that would have been $126,540 in December.

Not bad for an almost 4 years investment.

Mandy Bear
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#2 Re :   For Dante about Bitcoin
6 years ago  February 01, 2018, 10:53:16 PM

Thank you for that info!  It has such quick highs and lows I don't think it's right for me, at least to invest.  I've been using PayPal for years which takes care of the simple transactions of funds I require.

There has to be a leveling off eventually where the coin is stable and gaining/losing investment money isn't so dramatic; I guess it's all a matter of how many people get on board to get it there.  Hopefully, it will stay true to it's purpose to keep the coin in the hands of those who buy/sell/invest in it and not become centralized and controlled by, lets say, a single entity made up of the biggest holders of coin--we'd be right back to the problem we have with the current world banking system.

konradkautzer8
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#3 Re :   For Dante about Bitcoin
2 years ago  May 18, 2022, 09:19:03 AM
Last edited on May 23, 2022, 07:04:58 AM

I didn’t read that book, but I know many people who read it, and they keep telling me that it’s good only for some people who don’t plan to work in this domain. For general information, that’s a great thing, but it doesn’t get you enough information about the industry itself and how it works. Before I started the best forex cent account, I had zero knowledge about trading, forex, or the stock market. You start to understand it all only after you start working with it all. That’s the moment when you get to analyze it all. That’s why practice is much more important than theory.