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So What's With This Bitcoin Stuff?

Discussion in 'CryptoCurrency' started by ranfurly, Oct 30, 2016.

  1. ranfurly

    ranfurly Newbie

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    I remember reading someplace when bitcoin began, 1 BTC was worth 0.0001cent i.e that's 1/100th of a penny. Right?

    Then back in Nov 2013 1 BTC reached as much as $990USD... EEK!

    As at Feb 2016 it reduced to approx $400USD before it reached $600USD in October. Right away remains the ideal time to amass bitcoin, given that it’s just in the beginning of another adoption curve.

    Right now continue reading.
     
  2. BassTrackerBoats

    BassTrackerBoats Super Moderator Staff Member Moderator Jr. VIP

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  3. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    There's a explanation for each of those amazing movements.

    Back when 1 BTC was more than 1000 USD a company in Japan called MtGox "lost" (suspicion is on its former owner, some guy called Karpeles or something like that) millions of U$ in BTC, so its value dropped like a rock when people felt BTC was no longer secure.

    Then China or some other country said BTC was cool, it jumped 50%.

    When BTC was introduced it was worth zero. Nobody knew what it was and it sounded like some crazy shit.

    Some guy bought BTC for pennies for a college project, forgot about it, then when he came back he had over 800k U$ and bought his mom a house and himself an apartment. Cool eh.
     
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  4. davids355

    davids355 Jr. VIP Jr. VIP

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    But what is it gonna do next. Up or down. Who knows.
     
  5. IotaInsanity

    IotaInsanity Junior Member

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    I was one of the original miners. Trade 100k bitcoins for 100 long time ago
     
  6. Mugiwara303

    Mugiwara303 Junior Member

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    people are saying that bitcoin is not profitable anymore and they are mining other cc, but who knows, in my opinion bitcoin is the best
     
  7. seoheroo

    seoheroo Junior Member

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    Just think of the internet and picture bitcoin the same way.
     
  8. PHPInjected

    PHPInjected Elite Member

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    A sad thing to note, I remember seeing people selling them for $10 when they were tanking in the market. If I'd have only been smart enough to buy 100 of them then. Today, it's at $709.
     
  9. lunswor

    lunswor Newbie

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    I used to mine them and alternative currencies a few years back when it was profitable with GPU's. The fact is with BTC you never have any idea whats going to happen. Its a gamble and one I lost a fair bit of money with :(

    Lesson learned: never invest more than you can afford to loose.