Bitcoin Take?

[ChiefRocka]

The natural evolution of money is Bitcoin

https://twitter.com/thebtctherapist/...035052024?s=46

[Rain Man]

Originally Posted by wutamess

I made $4500. Dumped $15k in GBTC at $1053/share end of August. About ready to shit myself once it went down to like $500/share shortly after but I wasn't going to touch that money anyways so I let it ride. Cashed out a couple of weeks ago when it hit $1350 and kicking myself ever since.

Just dumped $10k on bitcoin (bought in at $16.1K) it's been up and down but I'm waiting for my 7 days to be done (12/14) with so the transaction can settle and I can hopefully start "daytrading" with my bitcoin wallet and such.

Planning on buying Litecoin but can't put any more money into coinbase until my transaction settles from last week.

So as of right now I've profited $4500. And currently up about $1000 since my bitcoin purchase.

Could've doubled my $15k GBTC investment if I would've been even more patient.

Well, even though the lost opportunity has to sting a little, that's still a strong win.

[MagicHef]

Originally Posted by Rain Man

Honest question here, and give me the straight scoop. Some of you guys have been on this case for a while. The trading value is up 2,000% or some such thing this year. Has anyone on this site made a ton of money? What's your net profit if you've invested, and is it profit that you've cashed in, or is it still on paper?

My first purchase was at the beginning of November, and I've made a number of small purchases since then. So far I've put in a total of $5,650 and it's now worth $11,000. Not bad for a month.

[Luke Atamadong]

The whole thing just blows me away. We were so poor growing up we barely had food some days and now to see money like this is just surreal.

[Jewish Rabbi]

I know Rain Man has no ill intentions, but it isn’t the smartest to disclose on a public forum how much crypto you hold.

[kepp]

So are you guys buying this on GDAX or with one of the wallet services? I'm obviously a noob.

[scho63]

Originally Posted by scho63

How crazy would this be if all along this was really the North Koreans or Nigerians were Satashi Nakamoto and they are going to be mega billionaires with the greatest scam ever?

Just went by $18,000 as I type and then plummeted until $17,000

North Korea may be making a fortune from bitcoin mania
by Sherisse Pham @Sherisse
December 12, 2017: 4:37 AM ET

http://money.cnn.com/2017/12/12/tech...ard/index.html

Speculators aren't the only ones cheering the runaway bitcoin boom -- North Korean leader Kim Jong Un may also be celebrating a windfall.

In recent months, experts and officials say North Korea has been "mining" bitcoin, demanding it as ransom payment and outright stealing the digital currency.

"It is a fact that North Korea has been attacking virtual currency exchanges," said Lee Dong-geun, a director with South Korea's state-run Korea Internet and Security Agency. "We don't know how much North Korea has stolen so far, but we do know that the police have confirmed the regime's hacking attempts."

North Korean hackers targeted four different exchanges that trade bitcoin and other digital currencies in South Korea in July and August, sending malicious emails to employees, according to police.

Bitcoin is a type of cryptocurrency that lives on computer servers. The virtual coins are "mined" by complex algorithms and recorded in a digital ledger.

Experts say it's unclear how much bitcoin and other cryptocurrencies North Korea has amassed.
"It's reasonable to assume some -- and the value is increasing significantly at the moment," said Bryce Boland, Singapore-based chief technology officer with cybersecurity firm FireEye.

Experts say the attacks are likely to continue as bitcoin's price skyrockets. It started the year below $1,000 but has soared more than 1,500%, crossing $17,000 for the first time last week.

It's not just bitcoin's dizzying gains that make it appealing to North Korea.

The digital currency was designed to operate outside of the control of governments or banks. That's likely to appeal to North Korea at a time when the U.S. is stepping up efforts to cut the country out of the international financial system over its nuclear weapons program.

It has also proved popular in the past with criminals because of the amount of anonymity it allows. Bitcoin isn't tied to any central bank, and payments can be made anonymously without using banks as middlemen.

That could help North Korea convert its stash into money it can more easily use.
Bitcoins are often held in accounts with online exchanges. But Boland points out that hackers can easily swap them into more obscure cryptocurrencies, move them to other exchanges and eventually withdraw them in traditional currencies like dollars.

"They could do those transactions very quickly ... and avoid traceability of the cash," Boland said.

North Korea has repeatedly denied involvement in international hacking attacks. But it has made no secret of its interest in bitcoin and other cryptocurrencies.

Last month, the Pyongyang University of Science and Technology touted a lecture from a bitcoin expert who came to North Korea to teach students about the technology behind the digital currency. The university is a high-profile institution where scions of the North Korean elite study.

"Many excellent technical questions were asked about the inner working of bitcoin, its risks, and the measures taken to ensure security," the university said.

Boland said FireEye believes North Korea is "developing a significant number of people who understand bitcoin so they can expand their operations."

That's likely to mean more attacks on exchanges and other cryptocurrency targets.

-- Taehoon Lee contributed to this report.

[Jewish Rabbi]

Originally Posted by Luke Atamadong

The whole thing just blows me away. We were so poor growing up we barely had food some days and now to see money like this is just surreal.

I understand diversifying your portfolio, but I truly hope for your sake that your day trading days are done, because you don't seem to be very good at it. If you had put $10,000 in BTC on April 1st and left it, you'd now have ~ $160,000, not even counting your BCash or Bitcoin Gold.

ETH would be ~$128k, LTC ~$460k.

[BWillie]

Originally Posted by Rain Man

Honest question here, and give me the straight scoop. Some of you guys have been on this case for a while. The trading value is up 2,000% or some such thing this year. Has anyone on this site made a ton of money? What's your net profit if you've invested, and is it profit that you've cashed in, or is it still on paper?

Are you a cop?

I'd rather not comment on the exact amount I've profited or have total (for obvious reasons) but life is going great right now. If I can 2.5x what I have right now I think I would be considered actually legitimately rich.

[Luke Atamadong]

Originally Posted by Jewish Rabbi

I understand diversifying your portfolio, but I truly hope for your sake that your day trading days are done, because you don't seem to be very good at it. If you had put $10,000 in BTC on April 1st and left it, you'd now have ~ $160,000, not even counting your BCash or Bitcoin Gold.

ETH would be ~$128k, LTC ~$460k.

No I'm not very good at it, but I had a bunch of shitcoins like DGB and XRP and rode those up and then held them like an idiot while they went down.
I didn't have any BTC or LTC and very few ether.

[RunKC]

Is it worth investing at this point?

[Jewish Rabbi]

Originally Posted by RunKC

Is it worth investing at this point?

My crystal ball isn't the most accurate, but I think we will still see significant gains.

[MIAdragon]

Originally Posted by Luke Atamadong

No I'm not very good at it, but I had a bunch of shitcoins like DGB and XRP and rode those up and then held them like an idiot while they went down.
I didn't have any BTC or LTC and very few ether.

Xrp is going to make me a decent amount of money.

[Luke Atamadong]

Originally Posted by RunKC

Is it worth investing at this point?

Hell yes man. I dunno if I would buy anything that just ran up to ATH, but buy the dips

[Luke Atamadong]

Originally Posted by MIAdragon

Xrp is going to make me a decent amount of money.

I'm still holding a decent position

[Jewish Rabbi]

Originally Posted by BWillie

Are you a cop?

I'd rather not comment on the exact amount I've profited or have total (for obvious reasons) but life is going great right now. If I can 2.5x what I have right now I think I would be considered actually legitimately rich.

Damn. Good for you. Not to say I'm not a little envious. I'd imagine most serious poker players are in a similar boat. That Black Friday thing kinda worked out after all.