1. 08-15-17 04:44 PM #1
    Bsims
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    Concern about cryptocurrencies

    While I was aware of bitcoins for a while, I never got into them except to exchange funds with sports books. As I built up a reserve of BTC, the price went up, so I became a BTC investor. BTC to me is a valid currency platform because you can use it to purchase a lot of things (other than funding sports books). Recent activities like in Japan add to the legitimacy as a currency.


    But I wonder about the other cryptocurrencies. What good are they, other than a speculative vehicle. The most analogous to cryptocurrencies to me is art, neither has any particular use, other than to purchase and hold in hopes of the value appreciating (OK, you can look at a piece of art and say that’s beautiful but then you’re done).


    With this view of cryptocurrencies, I’m concerned the bottom could easily fall out for them. That’s with the exception of BTC which I believe will survive. What’s wrong with my thinking
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  2. 08-15-17 05:19 PM #2
    Otters27
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    Doesn't Bitcoin need Ethereum to work?
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  3. 08-15-17 06:35 PM #3
    raiders72001
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    Quote Originally Posted by Otters27 View Post
    Doesn't Bitcoin need Ethereum to work?
    No, different animals.
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  4. 08-15-17 06:54 PM #4
    senseionline
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    if you like steady and climb bitcoin is good enough for you

    if you like to gamble pick some Altcoins do your homework can easily double or triple your money in few days

    remember always buy low and sell high
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  5. 08-16-17 09:39 AM #5
    Optional
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    Very good question.

    I do think these alt currencies will need to have some use to buy good and services in the general marketplace if they are to thrive like Bitcoin has long term.

    I think most of the strong ones like Ethereum do have that built into the plan in one form or another.
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  6. 08-16-17 10:23 AM #6
    StackinGreen
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    As fiat (or even bond markets) continue to erode, BTC will rise. I used to be a skeptic, now I think the staying power is clear. I'm not gonna let "it's too late" scare me; I'm not worried about the risk. I see it getting to 10k easy. The question is how you manage it and the tax implications, or you just hold it as a true "crypto" in your own hard wallet.
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  7. 08-17-17 01:24 AM #7
    Ballerholic
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    Quote Originally Posted by senseionline View Post
    if you like steady and climb bitcoin is good enough for you

    if you like to gamble pick some Altcoins do your homework can easily double or triple your money in few days

    remember always buy low and sell high
    if it's so easy I assume you are doubling and tripling your money every few days then huh?
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