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 Replies: 128 / Views: 18,820 |
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Valued Member
 United States
239 Posts |
I just wanted to bump this and see if anyone has been following the BTC market? Incase anyone is wondering, they currently worth $800+/btc. When I made this thread, they were "overpriced" passing the price of silver per oz. A simple $1500 investment would of been life altering for me.
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Pillar of the Community
Canada
2805 Posts |
Every previous spike has been a bubble... last time, Mt. Gox actually broke under the strain, sending prices way down. Right now I don't expect this to last.
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Bedrock of the Community
Australia
21788 Posts |
Is there anything to stop an electronic entrepreneur from creating a whole galaxy of Bitcoin competitor products?
The invitation to major financial corruption could be just about endless.
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Pillar of the Community
Canada
2805 Posts |
There have been numerous failed Bitcoin alternatives ("altcoin"), mostly summed up as "Buy Awesomecoin, pay with Bitcoin!". The owner gets a few poor schmucks to dig into their latest tiny modification of Bitcoin, pockets the profits in less dodgy Bitcoin (I never thought I'd call Bitcoin "less dodgy", but there you go), and are long gone by the time the price invariably crashes to nil in the next couple of weeks. There are some examples here: http://buttcoin.org/when-the-mining...h-get-forkedEdited by nalaberong
11/24/2013 11:19 pm
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Bedrock of the Community
United States
10038 Posts |
comments on the eMunie system starting up?
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Bedrock of the Community
13014 Posts |
Quote:
comments on the eMunie system starting up? I wouldnt touch any of those digital countless currencies with someone elses money much less my own. Whether or not they hang around for a while or disappear right away the end result of allowing someone to make a ton of money off the investments is the same. Its only a matter of time before world governments come down on them pretty hard, the unspoken truth is theres a very good chance that "disappearing" money/value is likely funding groups you wouldnt give a penny too if you knew what they were. Its very similar to why online poker got shut down. Its to easy to transfer money to places it shouldnt be going and theres nothing stopping scams or draining peoples accounts. Theres been numerous scams on all of them, and if youre a victim of it theres absolutely nothing you can do about it. |
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Pillar of the Community
United States
3789 Posts |
super easy reason on whats happening with BIT... its once again the power of the UPTREND.
If you notice, every time it makes a fresh yearly high, it runs higher and hard.
Now, its going to be super volatile with major breath taking pull backs. But until it stops going up and making yearly highs, expect to continue to see this until the momo runs out.
Then you can start to sell the crap out of it.
Again, a perfect example of momentum and trend, in this case, a very powerful uptrend.
I would be trading this but I just dont have the time to with everything else I manage.
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Valued Member
United States
239 Posts |
The chinese are very interested in BTC currently, the hype in china is supposed to be huge right now. The fall of the website "silk road" brought BTC huge media exposure. Alot of major businesses are now accepting bitcoin, such as some subway restaurants or plane tickets on cheapair.com. Sir Richard Branson speaks very highly of bitcoin and supports it by saying you can now pay for a space journey on his "Virgin Galactic" with bitcoins. Even the Winklevoss twins are major btc.
You can think what you want, mark my words, we will never see sub $100 bitcoin again. The btc world just keeps expanding and expanding. Would I advise to buy in now? No. But hopefully this got your attention about bitcoin.
Edited by Jenger
11/25/2013 07:18 am
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Pillar of the Community
Australia
7096 Posts |
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Is there anything to stop an electronic entrepreneur from creating a whole galaxy of Bitcoin competitor products?
The invitation to major financial corruption could be just about endless.  To me this is simply just a scam, A bit like the Federal Reserve but on a smaller scale  |
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Valued Member
United States
239 Posts |
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To me this is simply just a scam, A bit like the Federal Reserve but on a smaller scale And I am sure people said that same exact quote in the early 90s about the internet too. |
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Pillar of the Community
Canada
746 Posts |
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You can think what you want, mark my words, we will never see sub $100 bitcoin again. Isn't that what was said about silver when it was in the $40 range? We'll never see $20 silver again?  I imagine anything can happen. We could see $1 BC or $50000 BC in the future.... especially with such a volatile market.... never say never!  |
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Valued Member
United States
239 Posts |
lol I understand your point but I am starting to think currently, the potential for btc is incredible. I still have my silver hoard.. but the market is too depressing to watch right now. BTC is whats happening right now and I cant help but feel like an idiot for not making a move.
More so for making moves, buying bitcoins and having well over 10btc at times, but spending it on BS, poker, or selling for what now seems like a joke of a price ($290)
Maybe I will feel better when USD crashes
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Bedrock of the Community
13014 Posts |
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And I am sure people said that same exact quote in the early 90s about the internet too. The internet wasnt money. You paid a small monthly fee for it you werent supposed to use it as a bank. A better example would have been people saying to bet the farm on Enron, or that AIG would never trade below 1000 a share again, or that Madoff was the best investment manager to hire. Dont be surprised when something like that rocks bitcoins too, it already has been consistently happening it just doesn't get press coverage. In a decade or two itll likely be known as the greatest set up in history making the Madoff thefts look petty. Quote:
Maybe I will feel better when USD crashes I hope thats a joke |
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Valued Member
United States
239 Posts |
I do not believe its a ponzi scheme or a pyramid scam or any other negative theory behind it. I think it was a great idea and I truly would like to see it grow into a useable, well known currency. The last bitcoin wont be mined for another 125 years. Its here to stay and it will be around for awhile. I truly believe this.
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Bedrock of the Community
13014 Posts |
Let me ask you this. Why would you like to see it turn into a currency? Any complaint you have about money from governments applies a million times more to bit coin. There's absolutely nothing backing it not even the military power of a country, no regulation, no government insurance in the case of a failure, and absolutely nothing you can do if someone disappears with millions from its accounts.
If you woke up tomorrow and found out every account had been drained there'd be nothing anyone could do about it.
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Replies: 128 / Views: 18,820 |
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Posted 11/24/2013 10:41 pm
