any Bitcoin reefers out there?

[Jon Warner]

True story...

At the office in 2010 I was running 2-3 multi-processor PC's for "Folding at Home" which is the whole "Fight Cancer using unused CPU power"...

One of the members of the @FAH team suggested switching out one of your machines to run the Bitcoin client. So I opened a Mt. Gox account and mined Bitcoin for a month or two... mined a few hundred coins. Got bored with it and went back to DC.

Never thought about it again until maybe mid 2014 when it reached around $500/coin.

After lots of research, found out my coins were lost by Mt. Gox in a major scandal at the time.

Learned a lot... much later... like always store your BTC in a physical (hardware) wallet.

Probably $13-15M at today's prices...

 

[jaganshi066]

True story...

At the office in 2010 I was running 2-3 multi-processor PC's for "Folding at Home" which is the whole "Fight Cancer using unused CPU power"...

One of the members of the @FAH team suggested switching out one of your machines to run the Bitcoin client. So I opened a Mt. Gox account and mined Bitcoin for a month or two... mined a few hundred coins. Got bored with it and went back to DC.

Never thought about it again until maybe mid 2014 when it reached around $500/coin.

After lots of research, found out my coins were lost by Mt. Gox in a major scandal at the time.

Learned a lot... much later... like always store your BTC in a physical (hardware) wallet.

Probably $13-15M at today's prices...

Wow, I am truly sorry for your loss. That’s retirement right there.

 

[Jon Warner]

Wow, I am truly sorry for your loss. That’s retirement right there.

Thanks, ironically one of the top guys from the @FAH team disappeared from the site in maybe... 2017... never logged on to the site and all of his DC computers were offline. This is a guy who had team leading stats for years mega weekly production. Dude had dozens of multi-processor workstations crunching.

In 2019, a few months before COVID-19 he logged back online to post a pic in the FAH lounge. One single pic of 2 legs stretched out on a beach chair, umbrella drink in hand and white sand in front of him with several islands in the distance... to me looked like Thailand.

To add... there were a LOT of people mining BTC in the early days and most either lost their private keys or lost it in the Gox hack. It had basically no value at the time and no one had any idea what it'd become.

 

[CookieRdReef]

If you were going to put $100 in something to check back on in 5 years, what would it be?

 

[615Bororeefer]

GameStop.. lol jk

 

[Jon Warner]

If you were going to put $100 in something to check back on in 5 years, what would it be?

Depending on time frame... American Airlines is sure to bounce back after COVID...

 

[jaganshi066]

L

Thanks, ironically one of the top guys from the @FAH team disappeared from the site in maybe... 2017... never logged on to the site and all of his DC computers were offline. This is a guy who had team leading stats for years mega weekly production. Dude had dozens of multi-processor workstations crunching.

In 2019, a few months before COVID-19 he logged back online to post a pic in the FAH lounge. One single pic of 2 legs stretched out on a beach chair, umbrella drink in hand and white sand in front of him with several islands in the distance... to me looked like Thailand.

To add... there were a LOT of people mining BTC in the early days and most either lost their private keys or lost it in the Gox hack. It had basically no value at the time and no one had any idea what it'd become.

I think there was news about a guy who couldn’t find his password or log in to his computer and he had more than 200 million in Bitcoin, I wish I had that money. Hmmm he seems sketchy, he’s on a beach relaxing after everything went missing, but I feel for you. I’m going to be honest there is so much to learn about investing, with crypto there’s not much right now, but with stocks, there’s long term which I’ve been investing in for years, swing trading which I recently started, day trading (don’t really touch it), option trading, then there’s bonds, and so much more to learn. It’s never ending but I always like long term due to continuous growth even through difficult times. Look how all the big companies (Apple, Microsoft, Starbucks) dropped due to COVID then came out bigger than ever. I just feel it’s the smartest thing to do. I mean warren buffet is the best example haha

 

[robbyg]

I remember about 8 years ago some guy in the EU wanted to be paid for an online purchase with two Bitcoins. I went on eBay and they were selling for something like $60 a piece and I laughed like hell at that.

My question to owners of Bitcoins, has anyone actually gotten $55K in cash for a bit coins sale?

I see a whole lot of places that are selling BT but very few that buy and so far they all look a bit shady.

This thread got me doing some quick reading and everybody seems to be of the same opinion that you don't sell your Bitcoins you keep them or if you sell you only sell like .001 of a single coin. If I had $5 million worth of Bitcoins I would cash out half of them instantly rather than wait for a crash and loose everything. It feels like there is some kind of Herd mentality about hoarding these coins and I fear that may be the only reason the price is high. I hope the Herd does not get spooked all at once.

 

[DucatiGtr]

I remember about 8 years ago some guy in the EU wanted to be paid for an online purchase with two Bitcoins. I went on eBay and they were selling for something like $60 a piece and I laughed like hell at that.

My question to owners of Bitcoins, has anyone actually gotten $55K in cash for a bit coins sale?

I see a whole lot of places that are selling BT but very few that buy and so far they all look a bit shady.

This thread got me doing some quick reading and everybody seems to be of the same opinion that you don't sell your Bitcoins you keep them or if you sell you only sell like .001 of a single coin. If I had $5 million worth of Bitcoins I would cash out half of them instantly rather than wait for a crash and loose everything.

I can’t see why it would crash anytime soon.. anything is possible.. you have the city of Miami adoption, banks, credit card companies, PayPal and so on.. I bought once I hear PayPal was involved.. it’s been very good since. Only time will tell.

 

[Skynyrd Fish]

I’m way to old school. I’ve been buying silver coins for a couple years. Lol. Instead of storing cash. Block chain from what I understand is going to be freaking huge going forward. So what else do we buy besides a crypto currency? I’d like to invest in blockchain tech, but a crypto where I have a password I’ll lose is no good for me.

 

[Sarcazian]

Thanks, ironically one of the top guys from the @FAH team disappeared from the site in maybe... 2017... never logged on to the site and all of his DC computers were offline. This is a guy who had team leading stats for years mega weekly production. Dude had dozens of multi-processor workstations crunching.

In 2019, a few months before COVID-19 he logged back online to post a pic in the FAH lounge. One single pic of 2 legs stretched out on a beach chair, umbrella drink in hand and white sand in front of him with several islands in the distance... to me looked like Thailand.

To add... there were a LOT of people mining BTC in the early days and most either lost their private keys or lost it in the Gox hack. It had basically no value at the time and no one had any idea what it'd become.

If you don't mind me asking, how did you go about researching?

I played with BTC back when it started since I was doing SETI and probably that same fighting cancer program that you mentioned. I really don't remember how many I generated, but the program ran on my system for about a year and from a few beefy systems (some dual pentium pro 200's at the time.. they were fast then..)

We definitely had no idea that it would reach any amount of real money and other IT friends got in probably 10 years later. They were using DC resources that were paid for anyway and ended up selling a few years back. If memory serves, three of them split 32 BTC and thought that they made out like bandits.

 

[Eddiebg]

Btc and crypto will for sure crash again as a matter of fact it should be correcting soon as we haven’t seen a hefty correction this whole run . Crypto right now is best played if you’re active in the accumulation phase and sell when you’re happy with your return . Rinse and repeat . Keeping Btc is fine and hodling is save but selling at the top is what you should be looking to do especially if you’re in it for the long run

 

[Eddiebg]

I usually don’t get into what I don’t know, but my colleague got me into it. I got him into stocks and he’s made more on stocks than the 100 Bitcoin haha

There’s no way your buddy outperformed you In stocks if u hold 100 btc.
500 to return 5.5m lol there’s literally nothing else in the world that brings you that return

 

[S.Pepper]

Btc and crypto will for sure crash again as a matter of fact it should be correcting soon as we haven’t seen a hefty correction this whole run . Crypto right now is best played if you’re active in the accumulation phase and sell when you’re happy with your return . Rinse and repeat . Keeping Btc is fine and hodling is save but selling at the top is what you should be looking to do especially if you’re in it for the long run

Yeah, because the American Dollar is a better bet because it's guaranteed by the full faith and credit of the American goverment.lol Bitcoin will reach 100k soon. I'll go with Elon Musk because Pelosi, Schumer, and McConnell are worthless pieces of poop.... and yeah, everyone knows it.

 

[Devaji]

I’m way to old school. I’ve been buying silver coins for a couple years. Lol. Instead of storing cash. Block chain from what I understand is going to be freaking huge going forward. So what else do we buy besides a crypto currency? I’d like to invest in blockchain tech, but a crypto where I have a password I’ll lose is no good for me.

you can invest in compaies that are working with block chain or a bitcoin fund like grey scale. canada just passed to ETF for cryptos

True story...

At the office in 2010 I was running 2-3 multi-processor PC's for "Folding at Home" which is the whole "Fight Cancer using unused CPU power"...

One of the members of the @FAH team suggested switching out one of your machines to run the Bitcoin client. So I opened a Mt. Gox account and mined Bitcoin for a month or two... mined a few hundred coins. Got bored with it and went back to DC.

Never thought about it again until maybe mid 2014 when it reached around $500/coin.

After lots of research, found out my coins were lost by Mt. Gox in a major scandal at the time.

Learned a lot... much later... like always store your BTC in a physical (hardware) wallet.

Probably $13-15M at today's prices...

WOW! all I can say is wow...

If you were going to put $100 in something to check back on in 5 years, what would it be?

are you talking stocks or crypto? IMHO I think crypo will give you better ROI than stocks bitcoin has given 200% each year for the last 10 years. I know know to much about stock so someone else will have to answer for that.

if I had a $100 to invest in crypto...man that is a hard one. maybe cardano? you can get around 100 coins and if it doubles or 10X then your setting pretty.
IDK I still would get BTC tho I really think its going to be very valuable in 5 years like 500K per coin.

Depending on time frame... American Airlines is sure to bounce back after COVID...

I agree after covid and we can travel safly the travel industry going to go crazy...

L

I think there was news about a guy who couldn’t find his password or log in to his computer and he had more than 200 million in Bitcoin, I wish I had that money. Hmmm he seems sketchy, he’s on a beach relaxing after everything went missing, but I feel for you. I’m going to be honest there is so much to learn about investing, with crypto there’s not much right now, but with stocks, there’s long term which I’ve been investing in for years, swing trading which I recently started, day trading (don’t really touch it), option trading, then there’s bonds, and so much more to learn. It’s never ending but I always like long term due to continuous growth even through difficult times. Look how all the big companies (Apple, Microsoft, Starbucks) dropped due to COVID then came out bigger than ever. I just feel it’s the smartest thing to do. I mean warren buffet is the best example haha

Yup he sure did has millions locked up on a hard drive. I bet he will get it sometime tho.

I remember about 8 years ago some guy in the EU wanted to be paid for an online purchase with two Bitcoins. I went on eBay and they were selling for something like $60 a piece and I laughed like hell at that.

My question to owners of Bitcoins, has anyone actually gotten $55K in cash for a bit coins sale?

I see a whole lot of places that are selling BT but very few that buy and so far they all look a bit shady.

This thread got me doing some quick reading and everybody seems to be of the same opinion that you don't sell your Bitcoins you keep them or if you sell you only sell like .001 of a single coin. If I had $5 million worth of Bitcoins I would cash out half of them instantly rather than wait for a crash and loose everything. It feels like there is some kind of Herd mentality about hoarding these coins and I fear that may be the only reason the price is high. I hope the Herd does not get spooked all at once.

you should of bought a few for your self! only if we knew right?
yeah I can go to any exchange and sale my BTC in a snap.
only 900 coins are being mined per day but over 300K people are asking for them so its a 3:1 ration and its going to keep going up as more and more height dollar and big institutions with deep pockets are trading there cash for BTC.

I can’t see why it would crash anytime soon.. anything is possible.. you have the city of Miami adoption, banks, credit card companies, PayPal and so on.. I bought once I hear PayPal was involved.. it’s been very good since. Only time will tell.

yeah block chain tech is here to stay that is a fact. I agree I dont see a crash anytime soon there will be a correction sometime but i think we are in a bull market until the end of the year. we shell see.

 

[Devaji]

Yeah, because the American Dollar is a better bet because it's guaranteed by the full faith and credit of the American goverment.lol Bitcoin will reach 100k soon. I'll go with Elon Musk because Pelosi, Schumer, and McConnell are worthless pieces of poop.... and yeah, everyone knows it.

I agree that BTC is a better bet than the all mighty dollar. but lets keep politics out of this thread so it does not get closed :)

 

[Eddiebg]

Yeah, because the American Dollar is a better bet because it's guaranteed by the full faith and credit of the American goverment.lol Bitcoin will reach 100k soon. I'll go with Elon Musk because Pelosi, Schumer, and McConnell are worthless pieces of poop.... and yeah, everyone knows it.

Crypto/DeFi pose the biggest threat to the dollar lol and it’s backed up by the people for the people there’s no money being printed out from thin air . The reason it’s going to pop is because the market went up way to fast and there’s a major correction that’s been cooking . If you’re new to the market you don’t know or you’re being told by you tubers that it won’t happen but understand that for 100k btc to happen you need a major pullback for it to be a healthy 100k btc .

 

[Devaji]

for anyone wondering about Bitcoin here is one of my favorite talks on the subject.
this was at the mircostagities conference for large companies to investment into BTC .

 

[Eddiebg]

Price targets aside Decentralization is and will be the future . Decentralized banks , decentralized social media , decentralized voting etc etc. I will warn the people entering the market right now that you are entering at a very inflated price right now so invest carefully . If you want long term holds then buy long term when the market is bottoming out lol because it’s at all time highs right now which is not a smart move. People who bought in 2017 held that in the red until these past couple months

 

[Devaji]

Crypto/DeFi pose the biggest threat to the dollar lol and it’s backed up by the people for the people there’s no money being printed out from thin air . The reason it’s going to pop is because the market went up way to fast and there’s a major correction that’s been cooking . If you’re new to the market you don’t know or you’re being told by you tubers that it won’t happen but understand that for 100k btc to happen you need a major pullback for it to be a healthy 100k btc .

yeah that is why IMHO the best play is to hold to worry when there is a correction and dont sell when there is a rise. hold for 5-10 + years