1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Anyone hoarding Coins? Bitcoins?Litecoins?Namecoins?

Discussion in 'Making Money' started by Repulsor, Jun 26, 2013.

  1. Repulsor

    Repulsor Power Member

    Joined:
    Jun 11, 2013
    Messages:
    710
    Likes Received:
    267
    Location:
    PHP Scripting ;)
    Anybody here hoarding coins? I recently bought a pile, and is planning to keep them for a year or so.

    Anybody else on the same route?
     
  2. Trepanated

    Trepanated Supreme Member

    Joined:
    Sep 18, 2010
    Messages:
    1,395
    Likes Received:
    5,324
    I have seen Bitcoins making huge gains in the past and thought 'I wish I had bought them a few months ago'..... I have had the same thought 3 times!

    My powers of hindsight are getting stronger every day.

    I think you'll do well, they are becoming more mainstream every day and the more mainstream they are the less likely the price will crash.
     
    • Thanks Thanks x 1
  3. BadyBoySEO

    BadyBoySEO Regular Member

    Joined:
    May 17, 2013
    Messages:
    320
    Likes Received:
    94
    Location:
    United Kingdom
    Nope, the anonymous nature of Bitcoins means it's only a matter of time before the Fed's etc. start regulating and clamping down on Bitcoins. US authorities have already made moves against Bitcoins, too risky in my opinion.
     
    • Thanks Thanks x 1
  4. Rank 360

    Rank 360 Jr. VIP Jr. VIP Premium Member

    Joined:
    Dec 24, 2012
    Messages:
    1,921
    Likes Received:
    447
    Gender:
    Male
    Location:
    Google
    Well before everything else, make money out of this first just like everyone else.
     
    • Thanks Thanks x 1
  5. steelballs

    steelballs BANNED BANNED

    Joined:
    Dec 5, 2008
    Messages:
    1,832
    Likes Received:
    4,562
    The best coins to store are old coins no longer in circulation...

    They are often in demand and have an an increasing value as the market in old coins is global with coin dealers and/or collectors to be found all over the world...:cool:
     
    • Thanks Thanks x 2
  6. jennhewitt87

    jennhewitt87 Registered Member

    Joined:
    Apr 29, 2013
    Messages:
    83
    Likes Received:
    33
    Bitcoins are one of the best alternatives to fiat currencies out there. Privacy, anonymity if you use different addresses for payments, decentralization.

    However. They lack one major element. They have NO intrinsic value. Otherwise they would be perfect for long-term hedge investment against paper money inflation.
     
  7. Repulsor

    Repulsor Power Member

    Joined:
    Jun 11, 2013
    Messages:
    710
    Likes Received:
    267
    Location:
    PHP Scripting ;)
    Attention. We have a coin collector here guys! :D

    Lol, collecting coins was my hobby when I was like 6th grade. Time when I bugged each and every one among my relatives to see if they had some coins.
     
  8. west13

    west13 Junior Member

    Joined:
    May 31, 2012
    Messages:
    173
    Likes Received:
    63
    I was a coin collector too. It is a huge hobby/market...If I had the money I rather invest in some silver/gold coins with numismatic value.
     
  9. Repulsor

    Repulsor Power Member

    Joined:
    Jun 11, 2013
    Messages:
    710
    Likes Received:
    267
    Location:
    PHP Scripting ;)
    Investing in Gold now needs a lot of capital to probably make something nice. If it was buying few years back, and selling them now, you would have made a killing.
     
  10. barbie.ken

    barbie.ken Jr. VIP Jr. VIP Premium Member

    Joined:
    Feb 15, 2011
    Messages:
    1,287
    Likes Received:
    51
    Location:
    KenSeoConsulting.com
    Home Page:
    Everything is the best when you manage to get in when it just first comes out or launch.. but personally I wouldn't hold on to these coins for too long, once I can make at least 3x the profit I would sell most of them and just keep a few.
     
  11. steelballs

    steelballs BANNED BANNED

    Joined:
    Dec 5, 2008
    Messages:
    1,832
    Likes Received:
    4,562
    You have to be joking... the only money I save is notes...:cool:
     
    • Thanks Thanks x 1
  12. zebrahat

    zebrahat Elite Member

    Joined:
    Aug 6, 2008
    Messages:
    2,350
    Likes Received:
    2,890
    You mean, they lack tangible value. The value of bitcoins/litecoins is they fulfill and embody the public's demand for privacy, anonymity and independence itself. Those things hold intangible, but real value. The more governments/banks try to strangle privacy, the value of bitcoin will go further UP, not down.
     
  13. Repulsor

    Repulsor Power Member

    Joined:
    Jun 11, 2013
    Messages:
    710
    Likes Received:
    267
    Location:
    PHP Scripting ;)
    True! :D
     
  14. prab1996

    prab1996 Elite Member

    Joined:
    Jan 8, 2013
    Messages:
    3,496
    Likes Received:
    2,028
    Occupation:
    your gf's <3 ♥♥♥♥
    Location:
    Prab1996.com
    Home Page:

    i have a HUGE collection of old coins .
     
  15. phracktl

    phracktl Regular Member

    Joined:
    Sep 2, 2012
    Messages:
    218
    Likes Received:
    152
    Im not a BC basher: its a potentially useful fledgling fiat currency

    I dont rate it for preservation of wealth (long term saving) over carefully chosen Au (even Ag)

    I dont rate it for "anonymity" over FRNs/£/&#8364; etc. It was a design trade off made early on: to enable a public ledger. There are more secure anonymised services possible, even centralised ones, as you can read here from the NSA's other proposals for currencies

    http://groups.csail.mit.edu/mac/classes/6.805/articles/money/nsamint/nsamint.htm
     
    Last edited: Jun 27, 2013
  16. Trepanated

    Trepanated Supreme Member

    Joined:
    Sep 18, 2010
    Messages:
    1,395
    Likes Received:
    5,324
    You could argue that no fiat currency has intrinsic value. Currencies are only stable whilst everyone has trust in the system. If the system breaks down, the trust disappears and the currency fails.

    I see two positives and one negative to Bitcoin (clearly there are others):

    Positive - it's not country specific and worsening economies do serve to drive the price upwards. In Greece for example, it has already been used by people protecting themselves against an unstable currency with the prospect of rampant inflation.

    Positive - there is a finite supply built into the system, which acts as a a driver to the price appreciating (for the moment at least)

    Negative - there is a definite 'bubble' effect - price increases being driven by people buying into it to take advantages of the price increases. If everyone 'wakes up' at the same time the price will crash.

    The reason I keep deciding not to buy is that each time the price increases sharply, I think that's the bubble at full stretch. I have been wrong each time though.

    I have no idea how it will play out over time, but I find it fascinating.

    If I ever buy Bitcoins I'm sure that would be the perfect time to sell.