GBTC today....
$3,463.00
764.00 28.31%

So if I did not buy in on 9/1/17 when it was trading around 800, what would make me buy in when it goes up almost 800 in a day? Opportunity lost? Absolutely. Not going to say that it doesn't bother me a little bit, but there is nothing in the story that is any more compelling now than there was back then. Besides, I would have already been long out of it having taken a profit anyway. No way I could even consider establishing an initial position at this level...

Of course if it is at 10k in March I will be kicking myself a little bit, but I can only act with the information I have in front of me now.

Your friends dad is an idiot ... I’d never or suggest anyone put a huge percentage of your savings in altcoins . 1-3 % would be a smart move though .
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And another red flag...
Crypto Company CRCW has had its stock trading suspended by SEC until Jan 3 2018 pending investigation of its promotion and compensation.... Stock was ten bucks in October. Closed at 575 before suspension. Reminds me of some pot stock suspensions that left shareholders holding the bag....

GBTC today...
1,772.00
-610.995 -25.64%

So I could buy twice as much as.... just three days ago....

And another sure sign that this cryptomania has reached a frenzy that will rob you; Long Island Iced Tea skyrocketed 4X after changing its name and focus to Long Blockchain.... I actually thought it was a joke when I first read the report. Maybe John should rename the site Striped-Blockchain.... he will be able to sell it for millions! Tomorrow!

Ross, why is it that everyone who says they invest in schemes like this never lose $, you only hear of them making $?

It’s hard to post when you are in the fetal position under your desk.
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Pride and ego mostly. I made good money in Go Pro when it came out. Took a profit. Went back in pretty heavily on momentum, added to it on a couple pull backs, and ended up losing 75% of the capital invested plus the original profit. Still used the loss to offset gains as recently as last year. Of course you cant do that in a retirement account...
Emotion can lead to massive errors in judgement when it comes to investing. Chasing a stock is no different from the gambler trying to make up losses from the 1 o'clock NFL games by going in heavy on the late games. I do have >50% in a single position, but it is a large cap and I am up > 125%, which skews the pie. Usually have no more than 10% in a single position when establishing it. These folks who say they put it all in on Bitcoin, or whatever, are either lying or have the ability to live with a ton more risk than anyone I know personally.
Crypto market cratering some more today, though most trading is done for the day at this hour as majority of traders are in the bars...

Amazing that the fundamentals can change that much in a day LOL

Live by the sword

Die by the sword

pigs get fed. hogs get slaughtered.

Still have that new VS in box if anyone wants to step up ? :lasso::laughs::gu:

Massroots 📈
Marijuana and blockchain
🚀
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I have received three calls today about the cratering bitcoin prices. Two from kids in their twenties who were previously the greatest investors ever, and one from a friend who went in pretty heavy at his kid's urging. I could only offer what I know. There are regulatory issues on the horizon that may have adverse effect on price. In particular, the Koreans considering banning the trading and ownership in cryptocurrencies. And then there is the impending first expiration of futures contracts on the commodities exchanges. All negatives in my view. Price has been halved from its very recent high of 19500. It is at 9545 as I type this, down +10% on the day, or over 1000 bucks... They were not happy when I said that I could see this thing getting cut in half again from this level. They are not having a good day.....

For fair comparison to previously quoted investments, GBTC is at 1440

Was 3463 on 12/18/17

Down just over 50% this month. Ouch.
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The one thing Chef said that proved 100% correct was that when more options of crypto currency became available, this one would take a nose dive.
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Bitcoins far from done ! Lol , you’ve all been saying it’s dead , done , and scam for years now 🤣 ! Lots of those other options are now classified as securities too , which bitcoin isn’t . Watch ! I bought more at recent lows .🚀
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You are doing very well then, trading these new currencies. Congrats! But I don't think you could quote posts where "dead, done, and scam" were stated here. Still some serious questions about bitcoin, some serious money made, and some serious money lost. Glad to hear you always managed to be on the plus side. I have never had the pleasure to meet someone who has been able to accomplish that.

Chef, I sincerely hope you are out and did not ride this thing down.....

I don't know. I am not going to gamble on it but with RUS/China playing games on US currency it might not be bad.

Its already financially ruined a few people