Anybody here understand "Bitcoin"?

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layinwood

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http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013/11/Bitcoin.pdf


It may not go anywhere but there are a lot of things pointing to it's success. Don't be short sighted and think the US is the only place that matters. Follow what's going on around the world and take some chances. It's relatively new and sure there are some hiccups but for the same reasons we complain about the dollar and the Fed is the same reasons why this could explode. In Forex people worry about the Chinese government and their manipulation of their currency. With BCs they don't have that worry.
 
D

Dead Money

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Converting Bitcoin to Cash

Converting Bitcoin to Cash

Ebay....this one full Bitcoin went for $1350
http://www.ebay.com/itm/1-Full-Bitc...3379489?pt=US_World_Coins&hash=item2586160321

Did a search for Bitcoin on Ebay....some were .001 Bitcoin Denominated.
Now there are Litecoins,Feathercoins and Zetacoins being listed. Lots of "mining" equipment being sold.

Guess Tangible, hands on Refined Gold as a store of value, is being replaced by great faith in transparent wisps of near-nothingness in Cyberspace. Lets see how that works out in the long term...
 
airportis

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the price for them is sky high at the moment but I have yet to see stories of people who have been able to cash out successfully. case in point, that person had to resort to selling one on eBay to get real cash for it.

also, how safe is your "money" in those e-wallets? apparently not very if you were using that one site that suffered a massive attack. who knows how many bitcoins were even stolen?
 
kneifl

kneifl

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Bitcoin

Bitcoin

My feelings are it will eventually become a currency, and one that will fluctuate as well with highs and lows. It has had an amazing run and I've never owned any. I had the opportunity to when they were real low $9-10 and I turned it down because I thought it was a fad. Big mistake, but oh well. My hesitation was with the Iraqi Dinars a while ago. A lot of merchants (like Subway, fine art dealers, luxury car shops, etc.) are now accepting bitcoins so eventually it may gain ground. I wonder if Forex dealers have started to use it as a trading currency?

kneifl
 
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layinwood

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Kneifl, I talked to my Forex broker and they said no go because of how it's traded. I would guess brokers that have futures will be having it if anyone will.

US government is down with BCs now.


Airportis, everything isn't perfect with BCs yet but the market has grown dramatically already. You can say it's all bs but you can't deny the growth.

Expect to see mining computers on the market like crazy now. Mining is way out of anyones league at this point. The amount of super computers they're using to mine at this point is amazing.

I know most of you will sit on the sideline and wonder what the heck it is but IMO it's worth someone throwing 500 or 1000 at it. Heck throw a 100 in the pot and sit back and enjoy the ride. Most on here are willing to piss away money on sports, why not try something that "could" be the future in money.
 
Jaxx

Jaxx

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layinwood said:
Kneifl, I talked to my Forex broker and they said no go because of how it's traded. I would guess brokers that have futures will be having it if anyone will.

why not try something that "could" be the future in money.
Click to expand...

saint said:
Doesn't mean shit unless he can sell them.

I know some guys who have thousands of dollars worth of sports cards. Shit, I'm sure you're one of them YYZ. But they 'aint worth shit unless someone is buying them.
Click to expand...

You can sell them as there are number of legit exchanges you can buy or sell. Yes I do own for speculation only. Looks to me they are on solid ground after the hit Bitcoin took with Mt. Gox. We shall see what happens. Gonna ride it out.
 
airportis

airportis

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Jaxx said:
You can sell them as there are number of legit exchanges you can buy or sell. Yes I do own for speculation only. Looks to me they are on solid ground after the hit Bitcoin took with Mt. Gox. We shall see what happens. Gonna ride it out.
Click to expand...

legit exchanges? mtgox was the biggest exchange there was.

the whole pitch people give for this crap is how secure it is and not vulnerable to theft and fraud. :facepalm:

it is a complete train wreck. maybe things have changed and its easy to get money out now but that certainly wasnt the case a few months ago.

the only reason these things sky rocketed in the first place is the media coverage they got. since then theyve just gone down.

arent these things supposed to be "big" in asia? the japanese finance minister basically called them a complete joke the other day and said nobody recognises them as real currency.

how on earth can you think they are on solid ground after 1 out of 20 of all the bit coins in the world were just stolen?
 
T

T

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Where does $473 million in virtual currency disappear too? :scared
 
Jaxx

Jaxx

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Dead Money said:
http://www.google.com/imgres?imgurl...HYM&ei=_F0TU_vaAoKCyAHY7YHwBw&ved=0CAUQsCUoAQ


Lesson learned buy it and hold it in your hand....Gold Coins have a nice jingle by the handful. http://blogs.marketwatch.com/themar...treasure-ever-unearthed-in-the-united-states/
Click to expand...

I own gold and silver as well and cherish it. Only problem is the price is manipulated by the central banks. I see precious metals not as an investment but a storage of wealth and a type of insurance policy against shtf scenario. There will be a virtual currency. I personally believe Bitcoin will survive. Should be interesting folks.
 
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