• Hi Guest - Come check out all of the new CP Merch Shop! Now you can support CigarPass buy purchasing hats, apparel, and more...
    Click here to visit! here...

Anyone own BitCoin?

Rod

Rod

Administrator
Staff member
Joined
Jan 4, 2001
Messages
10,607
Location
Upland, CA
First Name
Todd
It appears to have hit an all time high and over $2400/bitcoin. Curious if anyone trades? I looked into becoming a miner, however the electricity costs alone would put me in the negative.
 
I have considered it but chose not to. Most people get in a bitcoin mining pool where everyone shares in the rewards as long as you have "proof of work" you'll get paid more frequently but obviously less than going it alone.
 
I had considered investing in some back when it was $200 per but didn't have the funds. Kicking myself now.
 
I don't, but have a good friend who swears it's the future... it just may well be. I'll have to check in and see how he's doing with his investments.
 
Apparently it's not too late. There's a lot of speculation of it going up to well over 100k/coin in the next 10 years. If anyone can figure out how to purchase bitcoin, I'd like to buy one! The whole thing seems so cryptic (no pun intended).
 
I signed up for "coinbase" (coinbase.com) a few years ago to use bitcoin to buy some CC's online, then forgot all about the 5 BC's that I bought for about $1500 until you mentioned it...
 
CigSid said:
I signed up for "coinbase" (coinbase.com) a few years ago to use bitcoin to buy some CC's online, then forgot all about the 5 BC's that I bought for about $1500 until you mentioned it...
Click to expand...
What are they worth now?
 
Bill - Since you used coinbase I assume you still have access to your coins. I've heard of a lot people forgetting their keys, and losing money.

Last I checked, one bitcoin is worth $2700/coin - https://price.bitcoin.com/
 
Rod said:
Bill - Since you used coinbase I assume you still have access to your coins. I've heard of a lot people forgetting their keys, and losing money.

Last I checked, one bitcoin is worth $2700/coin - https://price.bitcoin.com/
Click to expand...
Yes, access to coins, and linked to bank account, easy to convert to cash, or buy more...

Forgot my psssword, but was able to have it emailed to me... (good thing :) )
 
I was always suspicious because it would be easy manipulate the market. And that may have happened and may in the future
It's like many commodities in some respects with an important difference. The value is not tied to anything tangible. Hence anyone with sufficient resources (state or private) can buy quickly to drive the demand up and then slowly sell to profit. Or, conversely, buy slowly and sell a large amount suddenly to drive down the price.
 
Looks like it's finally on the decline. I'll bet it drops below $1,000 within 30 days. I'd like to buy a few coins, but not willing to spend more than $800/coin. Seems like it will be an interesting long term investment.
 
Personally, I don't like bitcoin. Physically it isn't anything tangible as I a house, car, Rolex etc. it it dumped you have a piece of worthless metal.

I'm into precious metal and certified coins, they don't have to be rare, but that does help. All this has been around for a century or more.

I will add I believe physical money will go away given enough time. This will allow the governments the ability to see where the funds are, and where they go. THAT will be a bitch.

Remember, the govt. recalled all paper with reference to payable in silver or gold, then the baddest thing was pulling all the silver coins out of circulation. Now they sell that silver and gold at super premium prices, for replace your quarter with a "new" shit quarter etc. FYI, it takes 40 of the old silver quarters to make one ounce of silver, which is $15.50 approx less asking price. We are getting screwed but we were dumb in 1964.

I do wish you well in Bitcoin and hope you make some money.
 
Last edited:
On the topic of investing - has anyone dove into marijuana investments? Probably the next big boom in stocks will be from those companies. I barely know anything about stocks, but that seems like a ringer.
 
b.dawgson said:
On the topic of investing - has anyone dove into marijuana investments? Probably the next big boom in stocks will be from those companies. I barely know anything about stocks, but that seems like a ringer.
Click to expand...
No, but I did look briefly. There is an ETF in Canada that is MJ centered. The only one existing last I read. Worth a look.
 
b.dawgson said:
On the topic of investing - has anyone dove into marijuana investments? Probably the next big boom in stocks will be from those companies. I barely know anything about stocks, but that seems like a ringer.
Click to expand...
Have looked into it , but there is a "medical" store opened close to me in an old kmart building ,may just have to look into it
 
You must log in or register to reply here.
Top