€100 of Bitcoin in 2010 = €70m today

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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

Spoiler: show
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

lol, how do i spoiler for size?

I got u fam
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

We're also a year out from halving.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

I took a position on eToro on the 14/12/2017 at a price of 16791 SL: 244.41 TP: 847334.70 been languishing at 50%+ loss for 2 years.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

13k 63%
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

Shorts are starting to rise.
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kiwinoz
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Re: €100 of Bitcoin in 2010 = €70m today

Post by kiwinoz »

Been all over the place - if you can trade that then you would have made loads.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

kiwinoz wrote:Been all over the place - if you can trade that then you would have made loads.
Too vicious for me. On the hodl now.
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sonic_attack
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sonic_attack »

What's the story with the price volitility? Is it simply supply/demand? I've been asked if I'll accept bitcoin payment through my business and until now I've turned it down because I don't understand the currency conversion to local fiat currency.

I have a basic understanding of what it all is and how it works, apart from how the price bounces around so violently.

So I wouldn't be looking at it as an overall investment, but could be forced to as I'll have to use NZ$ to purchase product to on sell.

What would be an acceptable exchange markup between the NZ$ - BTC? Can I just make that what I want without going overboard?

Right now as far as I can tell the BTC is worth around 16K NZ$. A job I'm being asked to produce is a little under 8K or 0.48BTC as straight currency conversion goes today for my regular markup on cost of goods and service offered.

I could be wrong, but according to the Marco coino app there really isn't anything local for me to spend this crypto anywhere local.

No one else in my industry is accepting bitcoin for what I do as far as I can tell. The actual cost to me is around 2.5K NZ$. The remainder of the invoice is a few hours of service and markup.

How am I supposed to look at a transaction like this? My first reaction is to say "well if you're paying with play money the price is a lot higher than what it would be with real actual money".

When does this stuff become good for actual currency?
Or in the case of trading goods and services do you just cash out straight away so the value of your invoice isn't evaporated in some gigantic loss if the crypto value takes a dive overnight?
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kiwinoz
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Re: €100 of Bitcoin in 2010 = €70m today

Post by kiwinoz »

Sonic I think you answer your own question - the volatility at the moment is hard. You would be better taking the cash and buying BTC when it drops if you wanted to. Its for the other parties convenience not yours especially if you are still having to comply with tax etc.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

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Yep. Doesn't look good at all. Pretty scary if that blows up. The Gox coins too are still a problem for me. 130k of them left.
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massive_field_goal
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Re: €100 of Bitcoin in 2010 = €70m today

Post by massive_field_goal »

sorCrer wrote:
Yep. Doesn't look good at all. Pretty scary if that blows up. The Gox coins too are still a problem for me. 130k of them left.
Crypto folk were like: "Get stuffed regulators, crypto sets us free!"
Crypto folk will be like: "WTF is this shit? Where is the regulation?"
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kiwinoz
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Re: €100 of Bitcoin in 2010 = €70m today

Post by kiwinoz »

Tether was well known to be dodgy. Caveat emptor
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

kiwinoz wrote:Tether was well known to be dodgy. Caveat emptor
Since late 2017.
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