To the bears in the thread, do yourself the favor of watching the replay of Yahoo Finance's all Market Summit on Cryptocurrency. Institutional investors, regulators, politicians, financial journalists, essentially thought leaders in technology, finance, and economics are pouring into the space and legitimizing it and rationalizing its future functionality and value. A rational market or economy which believes only in the sentimental, collectible, or nefarious use cases of Bitcoin would not behave this way. Does this guarantee the long term future or success of Bitcoin vs other currencies? No. But it has a big, big lead over any of the other options and provides the most mature decentralized cryptocurrency available.

https://finance.yahoo.com/live/allmarketssummit

I didn't say money. And you're argument that bitcoin doesn't do x now so it can't to x in the future isn't a real argument. You haven't dispelled anything.

If the relevant comp for bitcoin is the dot com bubble, then you probably should be buying most of the cryptos in sight with bitcoin most heavily weighted. Even with the dot com bubble tech heavy mutual funds still ended up doing very well over the past 30-40 years.

Even the most cited mania of all, the Tulip Mania, left behind a strong tulip/flower export industry that’s still shriving in Netherlands today. Early investors still ended up winners, provided they didn’t double down with borrowed money along the way.

It's no coincidence one of the biggest, quickest crypto sell-offs ever culminated in CFTC/SEC hearing...Institutions don't buy TOPS. Textbook 3 wave gut-check sell off that had even OG Bitcoiners losing their minds.

Venezuela is having an ico: http://www.elpetro.gob.ve/Whitepaper_Petro_en.pdf

I believe this will work, and allow nations to programmatically inflation target bitcoin. Other's thing its terrible and bad and crazy.

Also relevant and interesting, an exchange announces it will "back" tether:

The market cap for cryptos is bull****. All these exchanges still rely on banks. And no reputable bank is going to allow a multimillion dollar (let alone billion lmao) deposit of gains made by crypto. So why not just use a really shady 2nd world bank and do away with crypto altogether? This is all a fugazi.

The turbo bulls talk over valid arguments that threathen the success of bitcoin or refuse to acknowledge their arguments are in favor of blockchain technology that can be implemented outside of btcoin.

Most of the turbo bears are worse though. They dont acknowledge simple facts about the value of bitcoin.

turbo bull invest in their optimistic scenario, turbo bears talk alot.

Saying people can use technology outside of bitcoin is ignoring 9 years of solid developpment a super long and good(despite scaling issue that didnt last that long) reputation building from scratch.

on the perma bulls vs bears stuff:

the bears can't seem to grasp the value thingy of crypto and thus it is bad and a bubble without solid reasoning.
the bulls tend to overestimate but engage in some interesting discussions.

Pretty much sums it up.

guy needs to do some curls

See this is a fair point. For sure the people who got in way early when BTC was a dollar or less are always going to end up with a tidy profit. Also, if you'd put your money in the stock market right before the Great Depression, you'd recoup your losses within 30 years I think.

But then the Internet really was a revolutionary technology that transformed everyday life. Is there a case to be made that crypto is going to be the same kind of game-changer, or is it more like Beanie Babies? I would guess the truth is somewhere in between those extremes.

tl;dr summary, I fixed the post.

No, this is completely wrong. It's easy to get millions into the exchanges like coinbase/gdax. You obviously have no idea what you are talking about. Do some research first. You can do it within the same business day with a bank wire if you have a verified account with a $250 deposit limit on coinbase.

I also have a tiny $250 deposit limit as well for most options on my coinbase. Bank wire information might be little harder to find but it's there. If you send a bank wire to coinbase/GDAX it will clear the same business day (especially if you put the gdax reference information in it). I've done over 6 figures and it cleared the same day and I was able to trade all of it instantly. You can do this for millions. GDAX is set up for institutions and traders. It's how coinbase get's its bid/ask numbers for the coinbase retail side. GDAX offers free trading if you use limit orders and the market orders are .3%. So way cheaper than coinbase and everyone should use that over coinbase. It uses the same login information as your coinbase. You can instantly transfer over your coinbase funds into your gdax account. I recommend everyone doing that and go on youtube and learn how to do limit orders.

Getting verified on gdax is much harder for people now. I ve tried sincerely November and still have no news from support

I'm of the position that it was in a bubble, yet long term undervalued.

Seems a bit contradictory...

If you are looking to make short term profits, yeah buying then can get you rekt, if you are looking for long term, buy when you can, don't try to time the market too much.

ed, I only had a simple verification from coinbase but I didn't do my first bank wire till December and didn't have to do any extra verification to send it over to GDAX when I learned about it during that time. I just transferred over my money into the account instantly and was able to trade it instantly.

Highly recommend the Cash app from Square if you are looking to purchase BTC.

Some people aren't betting against BTC because there isn't a great way to do so. Let me know when 2+ year options are available.

I thought they rolled out investment vehicles for shorting Bitcoin like a month or two ago? Not sure about the details.

regulated futures market was rolled out. I think it's cleared monthly, maybe bit longer. he's looking for longer options.

Are exchanges allowed to do options trading like if GDAX wanted to? or is this something the SEC would have to approve?

No, you obviously aren't thinking or seeing past your own nose. Banking is available for Americans. I am not American. Banking is not available to me.

We weren't talking about $100000, we were talking about millions and billions. You find me a guy who regularly cashes in and out millions of dollars on these exchanges to reputable banks and I'll eat my ****ing shoe.

lucky you, GDAX never accepted my passport and no answer from support ever

I d be suprised if people wanting do deal with millions/billions didnt deal privately with other whales not to crash or pump the price on some exchanges(unless a pump or crash suit them obv)

CFTC approved options trading on ledgerx last year