Silk Road forums

Discussion => Newbie discussion => Topic started by: CheapestCocaine on July 15, 2013, 07:31 am

Title: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: CheapestCocaine on July 15, 2013, 07:31 am
When I found out about SR maybe 9 months ago, and discovered how bitcoins work and stuff, i realized it was steadily inclining. So I took the initiative, signed up with a trading website, invested over a grand when BTC=65USD, and sold at 140, and since have been buying and selling gaining tenths of bitcoins a trade. I more than doubled my money, and this is actually completely legal im pretty sure..Its pointless to do now because bitcoins have been so stagnant. Man, does anyone remember when bitcoin hit 240 then plummeted to 70?!! I wish i sold then! but Has anyone else done this?
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: milkabuki on July 15, 2013, 07:39 am
also bought in around 70 maybe 2grand worth. sold at 250 :) then rebought when it went down to like 80. sitting on a bunch, only started spending them here heh.

yeah i recall reading a reddit post though in r/bitcoin about guys who became millionaires or very very rich off of btc either by buying alot when it was like $1 or mining when it was ridiculously easy and not done by GPU's even. Remember, the first btc transaction was 10,000 btc for a pizza lol. right now that would be 1 mill!
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: CheapestCocaine on July 15, 2013, 07:47 am
also bought in around 70 maybe 2grand worth. sold at 250 :) then rebought when it went down to like 80. sitting on a bunch, only started spending them here heh.

yeah i recall reading a reddit post though in r/bitcoin about guys who became millionaires or very very rich off of btc either by buying alot when it was like $1 or mining when it was ridiculously easy and not done by GPU's even. Remember, the first btc transaction was 10,000 btc for a pizza lol. right now that would be 1 mill!

Fuck, if i had a time machine I would invest every damn cent i had when bitcoin started out.
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: dankis on July 15, 2013, 04:31 pm
It happens to me unintentionally all the time, when I buy low and let the coins sit in my account for a week or two. Sometimes there'll be a nice surprise waiting for me. It's too volatile to use as a "stock market" right now, although I guess most vendors on SR are doing that in a sort of way.
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: bastrak on July 15, 2013, 10:12 pm
It happens to me unintentionally all the time, when I buy low and let the coins sit in my account for a week or two. Sometimes there'll be a nice surprise waiting for me. It's too volatile to use as a "stock market" right now, although I guess most vendors on SR are doing that in a sort of way.

I'm the same.
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: snark on July 15, 2013, 10:45 pm
My boyfriend has done this a few times and made some decent cash off of it. Just like with most investments, the key is not to freak out and sell if it starts losing money but to hold your ground and wait for it to rise again. I am too anxious to do it but he's pretty good!
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: Britney Spears on July 15, 2013, 10:55 pm
I thought that same thing when they were so cheap this past week. It seems like a simple enough way to both gain a small amount and lose a small amount. I wouldn't make big investments in something that is so unstable.
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: Tony_Perkis on July 15, 2013, 11:03 pm
Litecoin is the new Bitcoin
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: CheapestCocaine on July 16, 2013, 01:01 am
Litecoin is the new Bitcoin

Yeah Ive heard of that! Have you been keeping track of its value over the last few months??
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: darthvaderstar on July 16, 2013, 02:02 am
I remember when bitcoins were $10 each, those were good days.
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: curiousjorge on July 16, 2013, 02:03 am
As far as I can tell, the price of bitcoin has gone up 20% in less than a week.
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: Croskin on July 16, 2013, 02:09 am
I basically never hold btc unless the market has recently dropped significantly.  It is a sweet sweet market if you play it right.
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: Tony_Perkis on July 16, 2013, 03:14 am
Litecoin is the new Bitcoin

Yeah Ive heard of that! Have you been keeping track of its value over the last few months??

when I first heard of them they were worth 50 cents each and there was no drug marketplace to spend them on or rumors swirling about Mt Gox picking them up.

From a pure buyer's perspective, it is a lot easier to use Litecoin than Bitcoin, there is just a lack of widespread support at the moment.
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: rich69bp on July 16, 2013, 05:45 am
I have been debating tossing a few grand in myself when they shares are low again
-Cheers 8)
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: Chicagodogs on July 27, 2013, 06:00 pm
I remember a few years back, a guy was telling everyone, to get on the BitCoin train. He was ridiculed relentlessly. He's probably retired now, on his own island.
Title: Re: Does anyone treat Bitcoins legally as a stock market to make money?
Post by: PlanB on July 27, 2013, 07:22 pm
We all know that Bitcoin is very lucrative currently and wish we'd all bough when they were dirt cheap. However my question is do you think there will come a big crash soon, I'm not talking like a crash then back up to £60, I mean like a full on crash and then everything would be worthless until things slowly picked up again....I don't want this to happen, just wanna know if it's possible.

PlanB 8)