4 ms·
bitcoin, you may get 10x in six months
by gressquel 9y ago
bitcoin, you may get 10x in six months
- foopod 9y agoI did this, sadly only a few hundred. Invested ~six months ago, and now it is worth double.
- deleted 9y ago[deleted]
- CyberFonic 9y agoAre you talking paper gains or actual cashed out real money gains? Bitcoin is virtual currency based on massive electricity consumption. Due to the ever increasing difficulty of mining, it is effectively a Ponzi Scheme.
- foopod 9y agoPaper gains. Sure its a pyramid of assumptions that could topple at any moment. But if it continues the way it has been, then it can accomplish the goal.
- netsharc 9y ago"Surely real estate prices will keep going up!" The worry is that when the crash comes, no one will be willing to buy. Or even if you find buyers, what if everyone starts withdrawing their money from the exchange, and the exchange doesn't actually have that liquidity...
- muzani 9y ago3-6 months time span? Ponzi Schemes are my weapon of choice.
- Obi_Juan_Kenobi 9y agoDifficulty is not in any way ever increasing. Difficulty is set based upon the overall hashing power of the network. If it becomes more expensive to mine, miners drop out and difficulty decreases.
- muzani 9y agoYeah, but good luck cashing out on that $1M USD.
- ryanlol 9y agoHow do you mean? That's a rather trivial amount.
- muzani 9y agoWell it's not fully liquid. Looking at the question more strictly, it could be put in $100k, get out $200k cash. The volume is not great. You'll lose quite a bit on exchanges. It's probably the same for stocks or real estate, but something like gold is much more liquid for a million dollars. Or gambling.
- ryanlol 9y agoYou really need to get into the tens of millions before you start having any sort of liquidity problems with Bitcoin.
- cobookman 9y agohaha yeah seen a few threads mentioning that coinbase limits you to cashing out only 15-20k/week. However I have heard of a few exchanges that will let you cash out 1m+ in BTC.