I read on a blog that it’s really cumbersome to sell Bitcoin on Coinbase and then convert the money to USD. You have to jump thru several hoops to accomplish this. I can’t find details anywhere on Coinbase of this is true i.e. their process flow to convert BTC to $$ in your bank account. Since you seem to have bought on Coinbase, what’s your take on this?
Easy credit is at the base of every bubble and then pop.
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I only did buy and no sell. I assume selling should be easier than buy. They have a weekly limit on how much you can buy.
But the exchange can easily crash when volume is too big. If there’s a panic sell, you may not be able to sell quickly
Actually I’m thinking to buy GBTC instead since it’s much easier to buy. There’s a premium but maybe we’ll know whether the premium is long term next week. I think most common investors may prefer GBTC over real coins due to ease of buy/sell and better anti-theft measures. The premium can stay for years. I think it’s easy to squeeze shorts with GBTC and they may be forced to buy at bubble prices
Getting in to trap is easier than getting out of Trap !
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Maybe it’s not hard to sell, but it could be hard to transfer your USD out of coinbase. Reasons can be
- Coinbase wants to protect you against loss from hackers
- Coinbase wants to keep your money for longer time so that you have more opportunity to buy/sell
Year end target 28k. Long term target 60k.
“Moas sees bitcoin, which has a total market cap of $268 billion, as a legitimate alternative to gold, which has a global supply valued at around $7 trillion.”
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That’s precisely the reason for the premium
Let’s wait for the rollout of futures next week. It seems the premium is already shrinking
In South Korea, people are pouring their life savings into bitcoin and other digital currencies.
And I thought Koreans are supposed to be very intelligent. I suppose the smarter you are, the crazier you get…
Ponzi schemes suck in everyone
I see tons of people on Facebook going nuts on this.
Greed is a powerful force… the collapse will be ugly…
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Maybe coinbase is Bernie Madoff…
This would be the easiest pyramid scheme ever to run with all the new money coming in each week and very few redemptions.
No that’s stretching it a little far… 
But the runaway bubble is no less scarier!!!
I still think it could double before it crashes. My worry is the exchanges aren’t regulated and won’t be able to handle the volume. That’s going to make the crash even worse. Especially since it trades around the clock unlike the stock market. Even if you spot the crash and want to sell, you might not be able to sell…
That’s why the mad rush out the door will trample many… their treasured holding gone in one fell swoop…
1929
JOE KENNEDY, a famous rich guy in his day, exited the stock market in timely fashion after a shoeshine boy gave him some stock tips. He figured that when the shoeshine boys have tips, the market is too popular for its own good, a theory also advanced by Bernard Baruch, another vested interest who described the scene before the big Crash:
“Taxi drivers told you what to buy. The shoeshine boy could give you a summary of the day’s financial news as he worked with rag and polish. An old beggar who regularly patrolled the street in front of my office now gave me tips and, I suppose, spent the money I and others gave him in the market. My cook had a brokerage account and followed the ticker closely. Her paper profits were quickly blown away in the gale of 1929.”
2000
http://archive.fortune.com/magazines/fortune/fortune_archive/1996/04/15/211503/index.htm
2017
Klein’s expertise has made him a favorite among friends and acquaintances looking to pick his brain about bitcoin. Some previously skeptical friends have told him they regret not investing in bitcoin earlier. One colleague even reported that his house cleaner had inquired about buying bitcoin.
Finally someone who attempts to explain the premium for GBTC. All the points seem fair in a bull market. But no protection whatsoever in a bear market!
https://www.smarteranalyst.com/2017/06/20/explaining-bitcoin-investment-trusts-gbtc-premium-nav/
So anyone got bitcoin tips from their uber drivers yet? Any panhandlers seen depositing money into bitcoin ATM’s?
We are just getting warmed up here. Wall St aren’t really involved yet. It can easily go 10x or 100x bigger. Time to go in guys.
Aren’t you an evil one… you are trying to push lemmings down the cliff without committing to anything yourself. Why don’t you put your money to where your mouth is and start buying some. And best of all it should alleviate you from “jealousy and regrets”… 
“rocket man”???
Last time I heard someone using that phrase on anther person was my ex-coworker using it on Elon Musk…