Are we allowed to talk about Bitcoin?

Good grief.

$24 million iced tea company says it's pivoting to the blockchain, and its stock jumps more than 200%

 

Just keep in mind, you are not investing; you are flat out gambling.
And this isn't blackjack in which all the players, theoretically, work together to beat the house.
This is more like poker. There are other players at the table who can profit when you lose.
And those players very likely have more information and experience than you do.

Good luck

 

Try to imagine yourself sitting at your computer in this predicament. I would cry and smash things for sure.

Good News! You Are a Bitcoin Millionaire. Bad News! You Forgot Your Password

Distraught investors go to extreme lengths to recover their lost cryptocurrency, including hypnosis and ‘brute force’ attacks with a supercomputer

 

Trader makes million-dollar bet that bitcoin will triple next year

This is madness to me. I do not get it, and all my instincts tell me we're soon to see one mother of a bubble crash.

Is there a way for an unsophisticated dude to short bitcoin? What goes up when bitcoin goes down?

 

I don't have a clue how any of this is supposed to work. It makes no sense to me that this is currency in the literal sense of the word -- that I can buy a car with bitcoin -- when the value is doubled (or halved) in a matter of days.

 

It started as currency. It really is not currency anymore.

It is now an imaginary commodity.
Welcome to Sim World.

 

That post of mine was from March 5, 2014. Had I put $2,000 into Bitcoin that day, it would today be worth $45,619.76.

I wonder what a bet that day on Donald Trump winning the presidential election would have paid off.

 

It's lunacy. Remember in 09 when we wondered how the 07 financial world didn't see that housing was obviously a huge bubble guaranteed to crash?

Seems to me like today is that times ten with Bitcoin. At some point people are gonna wake up and realize they're buying nothing, right?

 

Why buy it when you can buy a computer to mine it yourself?

 

Yep. And I recall how the first people to warn of a housing bubble got ridiculed and scoffed at for years as prices continued to soar. But eventually they were proven so right.

Just because the feeding frenzy of a speculative bubble lasts a long time doesn't mean it's not one. Just means the inevitable crash will be even deeper and uglier.

 

And here goes the sell-off.

Bitcoin value plummets below $12,000

 

Yep, and notice how yesterday's sell off began immediately after I posted about it here.

Just shows y'all how much the financial world pays attention to Stoney's SJ takes. I made that shit happen. I'm a market mover, dammit.