Bitcoin

#27
#27
I kick myself every day for not buying any like I almost did in college. It was at like 22 bucks
 
#28
#28
roosterjbh said:
I kick myself every day for not buying any like I almost did in college. It was at like 22 bucks
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Cramer said today that had you invested $100 when it started it would be worth $11 million. You could be paying for Gruden. Way to go.
 
#30
#30
lawgator1 said:
I admit it. I don't understand and it seems to me like it's the biggest con in recent memory, since tulips in the 1600s.

I could be totally wrong, however.
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Bitcoin is what powers the illicit online marketplaces hosted on the dark web.

Take real money topside and purchase Bitcoin. Drop down below and transact in Bitcoin. Return topside and convert your Bitcoin back into real currency.

Completely untraceable.
 
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#31
#31
85SugarVol said:
Bitcoin is what powers the illicit online marketplaces hosted on the dark web.

Take real money topside and purchase Bitcoin. Drop down below and transact in Bitcoin. Return topside and convert your Bitcoin back into real currency.

Completely untraceable.
Click to expand...



I was talking to a trader the other day who said a lot of this run up is because shady Chinese businessmen are using it to launder money out of their country. If so, that could continue it's run -- unless the Chinese government intervenes.
 
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#32
#32
I can't wait until the Bitcoin bubble bursts and neckbeards collectively leap off of buildings to their deaths like it's 1929.
 
#33
#33
davethevol said:
The guys pushing it have ties to pedophelia. It’s thought they want it as a currency so they can engage on things in the black market. In other words, selling kid porn and not get caught. Look up Brock Pierce.
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Were you also initially this wary of netflix, apple, and Amazon when they began doing more than mailing dvd's, making mp3 players, and selling books?I

Blockchains are the next thing.
 
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#37
#37
lawgator1 said:
I am skeptical of it, but don't wish ill will on anyone who has chosen to try to ride it up. Just as I intend to try to ride it down.
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Oil trading, Bitcoin....

GooseJan1516.png
 
#42
#42
85SugarVol said:
Bitcoin is what powers the illicit online marketplaces hosted on the dark web.

Take real money topside and purchase Bitcoin. Drop down below and transact in Bitcoin. Return topside and convert your Bitcoin back into real currency.

Completely untraceable.
Click to expand...

This hasn't been true for some time now. There are other cryptos better suited for black market purchases.
 
#44
#44
Mick said:
Venezuela has introduced a crypto based on Oil.
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I actually read a very interesting article about black market crypto currency in Venezuela. Energy is dirt cheap there...it's the one resource that the people can pretty much rely on and it's subsidized. Energy is also the number one cost associated with bitcoin mining. So these Venezuelan nerds are making a few thousand $ each month, tax-free.
 
#45
#45
n_huffhines said:
I actually read a very interesting article about black market crypto currency in Venezuela. Energy is dirt cheap there...it's the one resource that the people can pretty much rely on and it's subsidized. Energy is also the number one cost associated with bitcoin mining. So these Venezuelan nerds are making a few thousand $ each month, tax-free.
Click to expand...

This is different from what you might be referring I believe.

Enter the 'petro': Venezuela to launch oil-backed cryptocurrency | Reuters
 
#47
#47
In order for Bitcoin to become a legitimate currency/storer of wealth it needs to find an equilibrium. It's evolved into an extremely volatile form of speculation. The participation of the CME does bring a little bit of SEC oversight... maybe more the derivative rather than the underlying asset however.

Crypto $$$s have the potential to disrupt government interference into people's lives. The US government can help themselves to our bank and brokerage accounts. It's not as easy for them to steal the bitcoins and the bills stuffed under mattresses.
 
#48
#48
Thunder Good-Oil said:
In order for Bitcoin to become a legitimate currency/storer of wealth it needs to find an equilibrium. It's evolved into an extremely volatile form of speculation. The participation of the CME does bring a little bit of SEC oversight... maybe more the derivative rather than the underlying asset however.

Crypto $$$s have the potential to disrupt government interference into people's lives. The US government can help themselves to our bank and brokerage accounts. It's not as easy for them to steal the bitcoins and the bills stuffed under mattresses.
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When I ask people why bitcoin has any value at all, their answer is always to point out that the only reason the dollar has value as a fiat currency is because everyone has agreed that it does and accepts that it does.

I find that explanation and analogy ridiculous. The dollar has a huge economy behind it and universal acceptance for centuries, including decades after we dropped the gold backing.

The only thing driving bitcoin is utter speculation. While it may be true that eventually there will be forms of crypto currency, there is no regulation of this and no accountability.

If you are in it, good luck. It just seems inevitable to me that its doomed to crash, and hard.
 
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#50
#50
Mick said:
What kind of real accountability is there for the Dollar? Serious question.
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The market is so huge and stable that it can effectively be manipulated by monetary policy. That gives it credibility, knowing that the world economy will always stand behind it.

With bitcoin, you know only what people tell you. If it starts to collapse, there is no one to take any action to shore it up.
 
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