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Is it too late for the average joe Software Engineer to invest in Bitcoin?
by senatorobama 9y ago
Is it too late for the average joe Software Engineer to invest in Bitcoin?
- fourstar 9y agoThis is exactly what keeps moving the price up.
- matt_wulfeck 9y agoLast one out holds the bag.
- deleted 9y ago[deleted]
- honestlyreally 9y agoThe finite bag of 21m coins? Vast majority of which are likely lost from when it was worth a few cents? If bitcoin has utility, its price will reflect that.
- reefoctopus 9y agoIt is not, but you might want to dollar cost average in.
- yclopediaen 9y agoI'd also look at quality ICOs if you can do the technical due diligence on them e.g. https://hackernoon.com/the-dawn-of-the-1b-ico-a0486f6587a2 https://hackernoon.com/the-dawn-of-the-1b-ico-a0486f6587a2
- marcell 9y agoThere is an interesting discussion between Hal Finney and Satoshi in 2009 about the possible value of bitcoin. This is back when it was just a random software project, and had zero value: http://diswww.mit.edu/bloom-picayune/crypto/142207 http://diswww.mit.edu/bloom-picayune/crypto/142207 As an amusing thought experiment, imagine that Bitcoin is successful and becomes the dominant payment system in use throughout the world. Then the total value of the currency should be equal to the total value of all the wealth in the world. Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million.
- danieltillett 9y agoDoes anyone think the current owners of capital are going to sit by and let their powers and wealth be destroyed? If bitcoin were ever likely to become close to being the dominant payment system it will be outlawed with "extreme prejudice".
- gfody 9y agoNah someone just needs to gift Donald Trump a fat stack of it and it'll be recognized as genuine legal tender in no time.
- EliRivers 9y agoDo the current owners of capital principally hold their money in cash? If they're holding their money in ownership of companies and things, then their wealth wouldn't be destroyed as (current) monies became displaced by bitcoin.
- danieltillett 9y agoNo they mostly own assets, but they need control over the money supply to ensure they don't lose control of the assets. How would the GFC gone if they did not have control of the money supply?
- EliRivers 9y agoI'm not convinced. If I own a row of houses, bitcoin displacing dollars won't change that.
- danieltillett 9y agoIf you just own a row of houses you are not part of the 0.01% who are in control of the money supply.
- EliRivers 9y ago
- almostApatriot1 9y agoconsider some of the up and coming alt coins instead. you can triple your investment in a week. Very unlikely with bitcoin.
- isoprophlex 9y agoOr, considering that these are almost surely zero-sum pump-and-dump scams, you can also lose your entire investment.
- solotronics 9y agoeh I already sold enough to cover my initial investment back years ago, it's smooth sailing for me since then :]
- bitmapbrother 9y agoIn the words of Roger Ver - it's never too late. 5 years from now people will be kicking themselves for not getting into bitcoin when it was at $4000.
- Animats 9y agoVer is a convicted felon. He's also the guy who posted a video saying he'd looked at Mt. Gox's records and they had all the assets they said they had.
- bitmapbrother 9y agoAnd what does his background have to do with the logical statement that it's never too late to get into Bitcoin? When Bitcoin crosses $5000 are you still going to bring up his background?
- kristopolous 9y agoBitcoin adjacent companies like Nvidia are riding the craze and would be less susceptible to a tulip mania style crash if that's your concern
- CyberDildonics 9y agoYou can't profitably mine Bitcoin with GPUs. It has been this way for 3-4 years.
- kristopolous 9y agoscroll down and look at the pricing history of the rx 470: https://www.videocardbenchmark.net/gpu.php?gpu=Radeon+RX+470 https://www.videocardbenchmark.net/gpu.php?gpu=Radeon+RX+470 and the 480: https://www.videocardbenchmark.net/gpu.php?gpu=Radeon+RX+480 https://www.videocardbenchmark.net/gpu.php?gpu=Radeon+RX+480 Notice what happened during the alt-coin bubble? Now go look at nvidia's stock price around that time. Everything went bonkers in May. So I understand what you are saying, but there is clear historical evidence for my claims. When it comes to market manias the safest place to make money from it is adjacent to it in a way that supplies the maniacs.
- CyberDildonics 9y agoThe cyptocurrencies that can be mined with video cards are different from bitcoin. Ethereum is probably what you are thinking of being mined by GPUs.
- kristopolous 9y agoobviously it's for the less valuable coins with lower difficulties.
- CyberDildonics 9y agoIt's not obvious if you call them bitcoin when that isn't their name. That's like calling 7-UP a coke.
- xiphias 9y agoNot, but you have to be prepared for not touching your investment for 5 years because of the high volatility (which means the price could go down to $1000 for a year temporarily, than back up to $10000). Here's a logarithmic graph of the price over the last few years, the slow price drop from $1000 to $200 was painful for most investors: https://bitcoincharts.com/charts/bitstampUSD#tgSzm1g10zm2g25zvzl https://bitcoincharts.com/charts/bitstampUSD#tgSzm1g10zm2g25...
- tlrobinson 9y ago> which means the price could go down to $1000 for a year temporarily, than back up to $10000 I'm bullish on Bitcoin, but you should also acknowledge the price could go to down to $1000 or $100 or $0 and stay there.
- xiphias 9y agoIt could go to $0 instantly, if ECDSA + RIPEMD160 would be cracked. I don't see any other way currently.