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Bitcoin tops $66,000, sets record as crypto goes mainstream

27 Comments
By STAN CHOE

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27 Comments
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In a moment of gambling madness I brought 30 bitcoins in 2019 at $13921, I offloaded them this week at $61981.

What is the definition of economic pandemonium.............Bitcoin!

1 ( +4 / -3 )

@itsonlyrocknroll

Well played, good for you. But why sell them all now? Could still run a long way from here. Why not hold onto 5 for the long run.

5 ( +6 / -1 )

Fuzzy it was a gamble, pure and simple and I got lucky. some would contend reckless.

I sold them because my UK family (farming) needed a cash investment. I have been financing the UK family farming business over the pandemic.

It has also become a tax break.

Bitcoin fluctuates wildly, bouncing around like a ping pong ball. One day up the next day down.

Profit, loss.....on a heart stopping level. The stress keeps you up at night.

5 ( +6 / -1 )

Fair enough, all up to you. Was just thinking by keeping 5 you've still got your initial gamble back, plus a tidy profit, still with a free ride in the game, no more sleepless nights. But, must feel great to have helped your family like that.

2 ( +3 / -1 )

Where are all the crypto haters today?

-3 ( +2 / -5 )

Fuzzy, they supported me, through college, and when my business came close to collapse.

Bitcoin popped its head up so I had a flutter and borrowed against the fluctuations, the ups.

Lucky the bank gave me some leeway. A credit line.

1 ( +2 / -1 )

Bitcoin just started its next rally.

Bitcoin trading on the NYSE.

Sad no coiners no where in sight (although I believe they will chime in soon copewojak.jpg)

Been holding since $3k - come at me!

1 ( +3 / -2 )

@itsonlyrockandroll

Nice one!

I have very little invested in Bitcoin but I cashed in and will wait for the drop back and then ride it up again.

1 ( +2 / -1 )

El Rata...

Where are all the crypto haters today?

I hate crypto so I can answer for you.......

I'm sat at home wishing I had gambled a few million yen years ago.....

Still don't see much of a long term future for it..... But could be wrong. Wouldn't be the first time! :)

3 ( +4 / -1 )

Bitcoin and other solid cryptos like DOGECOIN are the future. No one can deny this now, even the rabid technophobes.

I know several people who are now multi-millionaires through getting in on BTC in a very small way a decade ago. They now have the flash cars and luxury lifestyle as you would expect. Retirees in their 40s. Sadly, Im not one! My holdings are small, but whatever money I can save going forward will go straight into BTC and DOGECOIN. The dream for everyone must surely be to never have to work again.

Get in now with whatever ¥ $ you can spare!

-3 ( +2 / -5 )

Cool. Just tripled my investment. HODL!

-5 ( +1 / -6 )

Bubble, bubble, bubble..

Where are all the crypto haters today?

Working in real jobs, studying real things and investing in real businesses..

And not wasting time on childish crypto bubble fantasies..

-4 ( +3 / -7 )

Working in real jobs, studying real things and investing in real businesses.

Sorry, I would pay attention but the deafening sound of my overpowered German vehicle paid for by crypto got me distracted, I had to rush to my paid by crypto house to enjoy a few ales (a bit early, I know) while others 'enjoy' the rat race.

-2 ( +1 / -3 )

Working in real jobs, studying real things and investing in real businesses..

Lol weak. I work six days a week in a "real" job. And I'm up half a million US on my crypto this year alone. Profits already taken.

0 ( +2 / -2 )

Meanwhile in fiat paper land, the yen is plummeting!

-2 ( +0 / -2 )

I'm not a "crypto hater", but this latest wheeze really does reinforce my doubts. One major selling point of crypto was disintermediation and being outside the mainstream financial services system. This product is so far away from that (a fund on a listed derivative) as to be almost laughable. This is a pure punt on the price of crypto with the fund issuer and the futures brokers taking their little slice along the way.

-2 ( +0 / -2 )

I've been a crypto supporter for a while now. I am a bit disappointed at the path all of this is taking. I was naively hoping for an uncontrolled, international currency, and today we have an investment vehicle like any random stock. Getting BTC is not about getting the control back, it's gambling at this point. I still can pay a few online stuff with it, but being able to pay my combini bento with it is not for tomorrow.

1 ( +1 / -0 )

Yes that Bitcoin dip to $32k recently was quite acceptable to me now.

-3 ( +0 / -3 )

Beautiful.

0 ( +1 / -1 )

Glad I bought all of my Bitcoin (just over 200) back in 2011. It’s made me filthy rich!

-2 ( +1 / -3 )

@Kaerimashita

One major selling point of crypto was disintermediation and being outside the mainstream financial services system

And it still is. These ETFs are only for institutions and lazy people to get in on the action. No one is stopping you from buying and storing the underlying asset for yourself.

2 ( +2 / -0 )

No other investment over the past couple years has yielded such high returns, love it! Got in early 2017 and sold some here and there over the years but still have some and love just watching it grow and grow. Long BTC, ETH, ADA, and DOGE.

1 ( +1 / -0 )

In reality, investing in bit coin is akin to throwing dice.

Crypto currency is the very definition of a virtual Las Vegas without any regulatory authority.

You dive in and hope the waters are not infested with sharks or crocodiles.

I got lucky. Simple as that.

-2 ( +0 / -2 )

 without any regulatory authority

My 15 page IRS return last year says otherwise.

0 ( +0 / -0 )

There is no defined regulatory framework.

Cryptocurrency Regulations Around the World

https://www.investopedia.com/cryptocurrency-regulations-around-the-world-5202122

It is a mish mash of confusion with no regulatory authority.

Blockchain continued development in advanced asymmetric encryption tech, up to a point, guarantees total transaction anonymity.

There is no agreed legislative framework

This is the proposal from the EU commission.

Totally unworkable.

Financial services – EU regulatory framework for crypto-assets...

https://ec.europa.eu/info/law/better-regulation/have-your-say/initiatives/12089-Financial-services-EU-regulatory-framework-for-crypto-assets_en

The UK version even more delusional

0 ( +0 / -0 )

BitCoin is not a digital currency. It is an artificial digital resource. It's value depends upon supply and demand, like rare-earth metals. Digital currencies are much simpler, have no impact upon the environment and can be linked to national currencies. The great benefit is that they can be global, so people in nations with badly run economies can secure their savings pegged to USD or JPY.

-1 ( +0 / -1 )

I've been out of crypto for about a month. I'm getting back in the next day or so.

Be prepared for the entire crypto market to take a huge dump. Everything I invest in collapses. Everything. Seriously. I'm the guy who flipped over the market last month.

You've been warned. You'll see.

If you ever want to short some futures, just let me know. I'll buy into it for a reasonable commission to offset the loses + some return.

1 ( +2 / -1 )

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