# Bitcoin



## bkb7777 (Dec 12, 2009)

I cant really believe my eyes.. Its sitting at a high of $950 today. I bought a couple of these a few months ago they were around the $70 range after I had watched it drop from the $130s. I wish I would have bought more now. Where do you yall think its gonna go? Theres been alot of coverage on them lately.


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## jdusek (Apr 7, 2006)

I only know a little about bitcoins, My question to you would be could you sell them right now for that price? Or even close to that.


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## Barefoot Boy (Sep 27, 2005)

Sell and you'll have done good.


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## glennkoks (Jun 24, 2009)

I think the concept behind them is a great idea. But without any regulating agency I am skeptical. Who is going to guarantee you get paid? And what do you hold physical as a guarantee?


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## Outearly (Nov 17, 2009)

I think I would be a seller. If some day no one is a buyer, it'll get ugly.

http://en.wikipedia.org/wiki/Tulip_mania


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## BigNate523 (May 19, 2010)

dont know but did read a story of a guy who bought some for 24$ a few years ago and today they were worth like 800K


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## bill (May 21, 2004)

nice sale if you can get it

Expect them to get "reviewed" hard by Governments. The buyers are on watch lists due to the high criminal activity.

BIPS lost a Million dollars last month. Inputs.io lost over a Million in October. Coindesk is under DDoS attacks. Chinese just have accounts and services disappear. 

When services close, "investors" money and accounts are just gone with no recourse. 

Looking good on paper is one thing, having it in your hand is another. I think it's a ponzi scheme myself


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## hadaclueonce (Jun 3, 2005)

*doesn't pass the smell test*

Call me old, but I have red flags for anything I cannot hold in my hand.


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## Spots and Dots (May 23, 2004)

hadaclueonce said:


> Call me old, but I have red flags for anything I cannot hold in my hand.


What do you really have with a USD? There's no gold standard, thus you are holding paper and a promise.


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## glennkoks (Jun 24, 2009)

Spots and Dots said:


> What do you really have with a USD? There's no gold standard, thus you are holding paper and a promise.


I would rather have paper and a promise of the number one economy in the world over a cyberspace bitcoin.

But thats just me.


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## hadaclueonce (Jun 3, 2005)

Spots and Dots said:


> What do you really have with a USD? There's no gold standard, thus you are holding paper and a promise.


Chinchillas, Emu's and Enron was all going to make us rich.

How is that working out?


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## Spots and Dots (May 23, 2004)

hadaclueonce said:


> Chinchillas, Emu's and Enron was all going to make us rich.
> 
> How is that working out?


Those all made alot of folks wealthy. The ones that stayed in didn't fair as well.

My point about USD is it is only paper. Paper that people, globally, perceive value in. As our government prints more, and takes on more debt, that global perception can change.

Imo, the Bitcoin is sketchy. I wish i owned some from "yesterday's" valuation, though.

I do find it interesting, however: the general "feel" of 2cool is less government is better, but the Bitcoin not being regulated is causing grief. I'd argue that a liquid, free market will find equilibrium. Maybe Bitcoin is properly valued......


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## glennkoks (Jun 24, 2009)

Spots and Dots said:


> Those all made alot of folks wealthy. The ones that stayed in didn't fair as well.
> 
> My point about USD is it is only paper. Paper that people, globally, perceive value in. As our government prints more, and takes on more debt, that global perception can change.
> 
> ...


I don't necessarily want government regulation but something of value (like gold) set aside in a Swiss bank account somewhere to guarantee the cyber currencies solvency would be nice.

I don't do gold, it's just not in my wheelhouse but I certainly recognize that lots and lots of people make money trading it. I'm sure people will make and lose money trading bitcoin as well.

It's just not for me.


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## SpeckReds (Sep 10, 2005)

Like anything else. "Pigs get fat and Hogs get slaughtered".


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## Spots and Dots (May 23, 2004)

glennkoks said:


> I don't necessarily want government regulation but something of value (like gold) set aside in a Swiss bank account somewhere to guarantee the cyber currencies solvency would be nice.


USD is not backed by gold anymore. Why would bitcoin need to be backed by gold to make you comfy with it?
I'm assuming, of course, you have a degree of comfort with USD and government promise of value.....
Value, in a PayPal account is not tangible, and most folks are ok with that.
credit cards have value via a magnetic strip and a series of 16 numbers.

Honestly, i'm only playing devil's advocate.


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## JFolm (Apr 22, 2012)

Spots and Dots said:


> What do you really have with a USD? There's no gold standard, thus you are holding paper and a promise.


Do you look at gold and USD on the same level? (Commodities)


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## Spots and Dots (May 23, 2004)

JFolm said:


> Do you look at gold and USD on the same level? (Commodities)


Don't understand your question.


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## gstanford85 (Jul 12, 2009)

SpeckReds said:


> Like anything else. "Pigs get fat and Hogs get slaughtered".


Another one is " Bears and Bulls make money and pigs get slaughtered."


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## bkb7777 (Dec 12, 2009)

I believe if a hedge fund gets behind them, it will really take off. They're sitting at 1080 now. 

Mtgox.com


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## fishingcacher (Mar 29, 2008)

Looks like tulips or beanie babies to me.


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## Barefoot Boy (Sep 27, 2005)

bkb7777 said:


> I cant really believe my eyes.. Its sitting at a high of $950 today. I bought a couple of these a few months ago they were around the $70 range after I had watched it drop from the $130s. I wish I would have bought more now.


I guess instead of buying an ounce of something, now you could buy a Kilo of something. :rotfl::rotfl::rotfl:


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## Tortuga (May 21, 2004)

Sounds like a golden opportunity to me....:doowapsta

Libertarians in full stride.....:rotfl::rotfl::rotfl:

http://rationalwiki.org/wiki/Bitcoin


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## g2outfitter (Jul 21, 2009)

Bitcoin opperations are in high alert lately with 2 major underground crime rings busted. Both were selling illegal narcotics, prostitutes, stolen guns and vehicles. I would be cautious about investing untill it gets more regulated. Just for example. One of the major drug website managers (silk road) made 2.5 billion dollars in a short 2 years managing these bitcoin transactions. He lived in Austin. He recently got arrested in San Francisco. 

Sent from my SAMSUNG-SGH-I747 using Tapatalk 2


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## reeltimer (Feb 5, 2010)

I would dump those bitcoins before you end up like some of those perps on the silk road.


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## Gottagofishin (Dec 17, 2005)

reeltimer said:


> I would dump those bitcoins before you end up like some of those perps on the silk road.


Why don't you give me all your US dollars so you don't end up like those perps who launder drug money? I wouldn't want to see you go to jail for possession of currency.


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## glennkoks (Jun 24, 2009)

Spots and Dots said:


> USD is not backed by gold anymore. Why would bitcoin need to be backed by gold to make you comfy with it?
> I'm assuming, of course, you have a degree of comfort with USD and government promise of value.....
> Value, in a PayPal account is not tangible, and most folks are ok with that.
> credit cards have value via a magnetic strip and a series of 16 numbers.
> ...


The dollar is no longer backed by gold but it is backed with the full faith and credit of the United States government. In addition my money in the bank is insured by the FDIC which protects me against bank failures.

What is backing up the value of a bitcoin? Who or what guarantees that I will get paid? Who regulates how these bitcoins are created? Are some hackers in a trailer in Russia simply creating them as we speak?

In short, there are just to many variables to the equation for me to consider investing in bitcoin. It's just not for me.

I appreciate anyone playing the devil's advocate because I feel it is important to look at most things in life from different points of view. Bitcoin may be a great investment. But there are just too many "unknowns" for me to consider investing.


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## ChuChu (Jan 23, 2010)

Easy come easy go.

http://worldnews.nbcnews.com/_news/...million-bitcoin-fortune?lite&ocid=msnhp&pos=5


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## Spots and Dots (May 23, 2004)

g2outfitter said:


> Bitcoin opperations are in high alert lately with 2 major underground crime rings busted. Both were selling illegal narcotics, prostitutes, stolen guns and vehicles. I would be cautious about investing untill it gets more regulated. Just for example. One of the major drug website managers (silk road) made 2.5 billion dollars in a short 2 years managing these bitcoin transactions. He lived in Austin. He recently got arrested in San Francisco.
> 
> Sent from my SAMSUNG-SGH-I747 using Tapatalk 2


The Silk Road guy got in trouble for facilitating underground, illegal transactions, and receiving a commission for it. Coincidence is the transaction were paid for with Bitcoins. The guy woulda gotten in trouble if USD was use, too.

If i trade you Chickenboys for sex and dope, we are both gonna get in trouble (if caught).

I agree with everyone, though.....Bitcoin is sketchy and too "cutting edge" for me, right now.

I wonder how people felt when Big Brother declared USD was the new was to pay....


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## Tortuga (May 21, 2004)

*Let's look at it this way.. Bitcoins are being marketed at 'virtual currency'...
Now..see dictionary description of 'virtual'.....
Personally....I'd rather have something 'real' than 'make-believe'...
*

*
*

*
*

*virÂ·tuÂ·al*

_adjective_ \ËˆvÉ™r-chÉ™-wÉ™l, -chÉ™l; ËˆvÉ™rch-wÉ™l\

:" very close to being something without actually being it"


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## bkb7777 (Dec 12, 2009)

Exactly. It's a virtual currency without anything backing it. The only value it has is what someone's willing to pay for it. Which is why I said I believe it will really soar if a hedge fund backs it. Which I think is a possibility due to the fact it's being reviewed by the government. I know they have issues with it being used for illegal activities.. But isn't cash used the same way? 

Also wouldn't it be exactly what the government is looking for a single currency that can be used around the world?


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## bill (May 21, 2004)

Department of Homeland Security as well as ICE are starting to freeze accounts.

They like to use their special courts and sealed warrants. Make no mistake, they are going to use the full force of the Government to shut all operations in America down in time. The criminal activity is just way too high. Because it's all digital, it makes it hard to track the movement. The Government does not like not knowing what you may be doing. It assumes you're hiding money for tax evasion or some other activity you want hidden. Next they claim the funds supply terrorist activity. So, the decision has been made.

Like I stated on the first page. If you can sell them and actually get money, now is the time with that profit. (engaging in the business of money transmission without a proper license is the usual cause and these fines are $1,000-$2500 per day once a cease-and-desist letter has been issued, if you're holding any at the time, it's all worthless and gone as activity will be frozen)


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## glennkoks (Jun 24, 2009)

bill said:


> Department of Homeland Security as well as ICE are starting to freeze accounts.
> 
> They like to use their special courts and sealed warrants. Make no mistake, they are going to use the full force of the Government to shut all operations in America down in time. The criminal activity is just way too high. Because it's all digital, it makes it hard to track the movement. The Government does not like not knowing what you may be doing. It assumes you're hiding money for tax evasion or some other activity you want hidden. Next they claim the funds supply terrorist activity. So, the decision has been made.
> 
> Like I stated on the first page. If you can sell them and actually get money, now is the time with that profit. (engaging in the business of money transmission without a proper license is the usual cause and these fines are $1,000-$2500 per day once a cease-and-desist letter has been issued, if you're holding any at the time, it's all worthless and gone as activity will be frozen)


Bill,

I would not be so quick to write off bitcoin. It is gaining a head of steam quick and the government does not necessarily have the authority or mandate to shut it down at this time.

http://www.nbcnews.com/technology/b...se-virtual-currency-buy-real-gifts-2D11663531


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## bill (May 21, 2004)

glennkoks said:


> Bill,
> 
> I would not be so quick to write off bitcoin. It is gaining a head of steam quick and the government does not necessarily have the authority or mandate to shut it down at this time.
> 
> http://www.nbcnews.com/technology/b...se-virtual-currency-buy-real-gifts-2D11663531


When it pretty much depends on China, they all could go down any minute. China has passed laws making "virtual currencies" illegal. They are also known to not allow wealth to leave. They control they currency. This could be a test as to remove the US Dollar as the world currency. That forces the US to take action as well.

It is a high risk bet

http://pando.com/2013/11/26/bitcoin-you-have-a-china-problem/


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## kenny (May 21, 2004)

I know people who were heavily leveraged in Bennie Babies that lost their retirement when the bottom fell out of the Bennie Baby market!


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## Trouthunter (Dec 18, 1998)

Sold all of mine this past week, the remaining yesterday and it was a very good week. 

TH


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## fishingcacher (Mar 29, 2008)

Backup your Bitcoins.

http://www.npr.org/blogs/thetwo-way...-of-thousands-of-bitcoins-as-value-hits-1-000


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## bill (May 21, 2004)

last year a guy traded 10,000 bitcoins for a couple pizzas (over 4 million dollars in today's exchange)


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## glennkoks (Jun 24, 2009)

After reading a few more articles about bitcoin I would run not walk away from these markets.

It seems that 18 of 40 bitcoin trading platforms created in the last 3 years have shut down. 4 of them never paid investors. Thats a 10% "gotcha" rate. The fact that some people are now accepting bitcoin for real estate in China speaks volumes to the size of the economic bubble going on over there.

I am not advising anyone not to buy bitcoin but just realize it is more of a "gamble" than an investment.

http://qz.com/147606/look-out-chinas-housing-bubble-is-now-available-in-bitcoin/


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## Gottagofishin (Dec 17, 2005)

bill said:


> Department of Homeland Security as well as ICE are starting to freeze accounts.
> 
> They like to use their special courts and sealed warrants. Make no mistake, they are going to use the full force of the Government to shut all operations in America down in time. The criminal activity is just way too high. Because it's all digital, it makes it hard to track the movement. The Government does not like not knowing what you may be doing. It assumes you're hiding money for tax evasion or some other activity you want hidden. Next they claim the funds supply terrorist activity. So, the decision has been made.
> 
> Like I stated on the first page. If you can sell them and actually get money, now is the time with that profit. (engaging in the business of money transmission without a proper license is the usual cause and these fines are $1,000-$2500 per day once a cease-and-desist letter has been issued, if you're holding any at the time, it's all worthless and gone as activity will be frozen)


I'm not defending bit coin, but the problem with your argument is that almost all money is digital these days. Sure I can go to the ATM and get twenties, but hard currency is a very small fraction of US dollars or any other currency. For example, last year I bought a bunch of Swiss francs. It was all done electronically. I've never seen an actual Swiss franc. I would estimate that about 98% of my financial transactions are digital. I get deposits electronically, I use my ATM and credit cards to buy things, and I pay most of my bills by wire.

The regulatory aspect of it has some merit, but in reality bit coin or some other global currency is inevitable. Once it starts getting traded in the public currency markets and recognized in the banking system it will be legitimized. The govt will have little to do with it.


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## bill (May 21, 2004)

What "argument"? I simply stated some facts as I know them.


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## Gottagofishin (Dec 17, 2005)

bill said:


> What "argument"? I simply stated some facts as I know them.


Your point then. You were making a point. :spineyes:


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## glennkoks (Jun 24, 2009)

The bottom line is this:

People are making a fortune on bitcoin. People are also getting the shaft. As with anything it is buyer beware and the higher the risk the higher the reward. 

With the reward being so high it may be worth the risk. Just not for me.


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## Haute Pursuit (Jun 26, 2006)

Sounds like Ken Lay and Jeff Skilling are back in business. I'm sure Lay wasn't buried very deep.


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## Back Bay boy (Apr 7, 2010)

Our current money system is not anymore backed than a Bitcoin. They started making these becouse of that very fact. Our US government does not even have the authority to print or create money out of thin air. They borrow it from the Federal Reserve. They have been devauleing the dollar at alarming rate. Anybody who thinks that in a time of economic crash that the FDIC is going to back there money is wrong. The Federal government wants to regulate Bitcoins becouse they lose with it. An alternative currency other than the dollar is not under there control. Anytime you have money changin hands there is going to be crooks. The real fact is one day the US dollar will be worthless and even if the FDIC gave you your saving you work hard for it is not going to be worth the paper it's printed on. Just my 2 cents anyways..lol


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## bill (May 21, 2004)

The day the US Dollar is not the world currency, is the day of the big crash. Until that day comes, they will continue to print. The US Government will fight to keep this control. I Expect a world war to happen, yes, I feel that strong about it. The bitcoin is not going to replace any currency. Once China pulls out, they will be worthless.

If you believe they will continue, then get some servers, join some pools and make them. Just start running a home server in a pool and see if you can make money. Better, get going in ripple...with out ripple, bitcoins are worthless. 

Just how deep is the ripple? How far will they reach? Facebook has 4 degrees of separation (unlike the 6 degrees people talk about in games). Bitcoins social graph would not even be that high.


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## Haute Pursuit (Jun 26, 2006)

bill said:


> The day the US Dollar is not the world currency, is the day of the big crash. Until that day comes, they will continue to print. The US Government will fight to keep this control. I Expect a world war to happen, yes, I feel that strong about it. The bitcoin is not going to replace any currency. Once China pulls out, they will be worthless.
> 
> If you believe they will continue, then get some servers, join some pools and make them. Just start running a home server in a pool and see if you can make money. Better, get going in ripple...with out ripple, bitcoins are worthless.
> 
> Just how deep is the ripple? How far will they reach? Facebook has 4 degrees of separation (unlike the 6 degrees people talk about in games). Bitcoins social graph would not even be that high.


They take US Dollars to purchase Bitcoin don't they? LOL


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## bill (May 21, 2004)

Haute Pursuit said:


> They take US Dollars to purchase Bitcoin don't they? LOL


all day and night


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## Haute Pursuit (Jun 26, 2006)

bill said:


> all day and night


Hmmm... LOL


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## Back Bay boy (Apr 7, 2010)

bill said:


> The day the US Dollar is not the world currency, is the day of the big crash. Until that day comes, they will continue to print. The US Government will fight to keep this control. I Expect a world war to happen, yes, I feel that strong about it. The bitcoin is not going to replace any currency. Once China pulls out, they will be worthless.
> 
> If you believe they will continue, then get some servers, join some pools and make them. Just start running a home server in a pool and see if you can make money. Better, get going in ripple...with out ripple, bitcoins are worthless.
> 
> Just how deep is the ripple? How far will they reach? Facebook has 4 degrees of separation (unlike the 6 degrees people talk about in games). Bitcoins social graph would not even be that high.


I hear you Bill. It's funny you say print though it's all done on computers now I hear. The fact that a bank borrows money and is only required by law to keep 10% of that money as reserve and loan the rest a million dollars become 9 million and on down the line. So they Print 1 million dollars it down the line can become 100 million and the only actual money is the one mil. Would be a nice except the actual number are in the hundred of billlions down the line anually.


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## BullyARed (Jun 19, 2010)

bitcoin is a scam, just like emu. Cash in now when you make money out of it.


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## glennkoks (Jun 24, 2009)

Say what you will about the U.S. dollar but when the fhit hits san people are going trying to get as many good old American Greenbacks for these bitcoins as they can.


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## Tortuga (May 21, 2004)

Has anyone ever actually SEEN a real live 'bitcoin'... How many of them does it take to make your pants sag ? Can I buy a car or a boat with them ?

I HAVE actually SEEN a $100 US bill...and it would buy anything in the whole world that I wanted....if I had enough of them...

Think I'll pass on this one....Can anyone spell 'ponzi' ??....:rotfl:


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## ChuChu (Jan 23, 2010)

http://www.nbcnews.com/business/bitcoin-price-plunges-china-clampdown-escalates-2D11765766


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## Back Bay boy (Apr 7, 2010)

glennkoks said:


> Say what you will about the U.S. dollar but when the fhit hits san people are going trying to get as many good old American Greenbacks for these bitcoins as they can.


When the SHTF the dollar will be woth nothing, Come on during hyperinflation.


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## Spooley (Feb 24, 2013)

Read Drudge today where QE will be continued to prop up our fiat currency to keep the shtf....supposedly it (QE) works in the minds of some Obama appointees. You can always play with numbers and create your own fuzzy math.

Also heard that gold and silver would be useless when the shtf,...butt eye ain't buying that. If the govt. says it cannot be used for trade, then there will be a black market trade with it.


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## bill (May 21, 2004)

Spooley said:


> Read Drudge today where QE will be continued to prop up our fiat currency to keep the shtf....supposedly it (QE) works in the minds of some Obama appointees. You can always play with numbers and create your own fuzzy math.
> 
> Also heard that gold and silver would be useless when the shtf,...butt eye ain't buying that. If the govt. says it cannot be used for trade, then there will be a black market trade with it.


Bernake is going to continue this until he is gone, so the next person will have to deal with it and it's no surprise to anyone. What I believe is going to happen is a serious market correction.... down to 7000. I have been waiting on this to happen for some time now but the pumping of money keeps it floating, for now. When the money flow stops, it best happen slow over time and we should be ok. If it gets cut off overnight, expect problems. I don't see them pulling the life support.

I also believe if things went really really bad, gold will be worthless. Ammo and food will be the most important things. But I'm talking world crisis, Road Warrior type situation. I don't think that will ever happen. My other fear if something was to happen so bad things started falling apart, then we would be stuck with the current politicians.


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## glennkoks (Jun 24, 2009)

Back Bay boy said:


> When the SHTF the dollar will be woth nothing, Come on during hyperinflation.


Hyperinflation? Are you kidding? Despite all the fed has done we cant even get to a 2% inflation rate that is there mandate.

In addition bitcoin is crashing and burning and gold had its worst year in the last 13.

The U.S. has serious economic problems but we are still in better shape than the rest of the world.


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## glennkoks (Jun 24, 2009)

On Wednesday, the price of a Bitcoin fell 18% to $558.

I hope everyone cashed out and got out!


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## Back Bay boy (Apr 7, 2010)

glennkoks said:


> Hyperinflation? Are you kidding? Despite all the fed has done we cant even get to a 2% inflation rate that is there mandate.
> 
> In addition bitcoin is crashing and burning and gold had its worst year in the last 13.
> 
> The U.S. has serious economic problems but we are still in better shape than the rest of the world.


The Fed is responsible for the crisis we are in man. Fake interest rates and printing money at a rate that would choke a horse.


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## Back Bay boy (Apr 7, 2010)

bill said:


> Bernake is going to continue this until he is gone, so the next person will have to deal with it and it's no surprise to anyone. What I believe is going to happen is a serious market correction.... down to 7000. I have been waiting on this to happen for some time now but the pumping of money keeps it floating, for now. When the money flow stops, it best happen slow over time and we should be ok. If it gets cut off overnight, expect problems. I don't see them pulling the life support.
> 
> I also believe if things went really really bad, gold will be worthless. Ammo and food will be the most important things. But I'm talking world crisis, Road Warrior type situation. I don't think that will ever happen. My other fear if something was to happen so bad things started falling apart, then we would be stuck with the current politicians.


I agree but I prepeare anyhow. and until some kind of barter system is set up after the collapse survvial of the best prepared. Bitcoins nor money will help you. Nothing to lose in being ready for a monatary demise.


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## Jolly Roger (May 21, 2004)

take this advice for what you paid for it

I am an extremely high risk investor, yet I passed on bitcoins. Yes there is money to be made, but I can not even fathom anything more fiat then a bitcoin. Consider them a short term trade, sell the highs and take the profit and run. The chance of them disappearing in a millisecond is real. Do not ride the dump, set your sells close and do not look back.


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## glennkoks (Jun 24, 2009)

Jolly Roger said:


> take this advice for what you paid for it
> 
> I am an extremely high risk investor, yet I passed on bitcoins. Yes there is money to be made, but I can not even fathom anything more fiat then a bitcoin. Consider them a short term trade, sell the highs and take the profit and run. The chance of them disappearing in a millisecond is real. Do not ride the dump, set your sells close and do not look back.


I think there is money to be made in bitcoin as well. But keep in mind there are governments around the world with a vested interest in seeing this fail. In addition it is an unregulated wild wild west dog and pony show.

I don't mind high risk but I think bitcoin crosses the line between high risk and foolish. Too many people are getting scammed


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## bassguitarman (Nov 29, 2005)

Bitcoin executive Charlie Shrem is accused of money laundering 

http://www.latimes.com/business/la-fi-bitcoin-arrests-20140128,0,5085412.story#ixzz2rf5isKvj
​


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## fishingcacher (Mar 29, 2008)

Remember Beany Babies?


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## 8seconds (Sep 20, 2005)

Watch what happens when there is an arrest for using Bitcoins to launder money from Child sex trafficing/pornography.

TIMBER!


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## FINNFOWLER (Sep 2, 2004)

Bitcoin crashes again!

Who here is unable to cash in their bitcoin?

http://finance.yahoo.com/blogs/the-...lYwNzcgRwb3MDMgRjb2xvA2JmMQR2dGlkA1ZJUDMyMF8x


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## BullyARed (Jun 19, 2010)

fishingcacher said:


> Remember Beany Babies?


and emu and Eagle coins! at least you can eat the bird!


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## BullyARed (Jun 19, 2010)

FINNFOWLER said:


> Bitcoin crashes again!
> 
> Who here is unable to cash in their bitcoin?
> 
> http://finance.yahoo.com/blogs/the-...lYwNzcgRwb3MDMgRjb2xvA2JmMQR2dGlkA1ZJUDMyMF8x


Bitcoin didn't crash but the inventors/scammers have cashed in ton of money and it's time to bail out.


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## FINNFOWLER (Sep 2, 2004)

BullyARed said:


> Bitcoin didn't crash but the inventors/scammers have cashed in ton of money and it's time to bail out.


Ahhhhh....The 'ol pump and dump scheme huh?


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## owens33 (May 2, 2007)

just another fiat currency. even less real than the almighty dollar.


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## smokinguntoo (Mar 28, 2012)

*Bitcoin ATM Arrives*



bkb7777 said:


> I cant really believe my eyes.. Its sitting at a high of $950 today. I bought a couple of these a few months ago they were around the $70 range after I had watched it drop from the $130s. I wish I would have bought more now. Where do you yall think its gonna go? Theres been alot of coverage on them lately.


You can now go to a bar in Austin and exchange them for cash. I had some difficulty determining the exchange rate at the current time. Perhaps someone can do that as I'd like to know. In one of the videos I saw the amount $12.00 on the screen, but that may not have been the exchange rate. At least it is a step toward legitimizing it as a currency.

http://www.usatoday.com/story/money/business/2014/02/19/bitcoin-atm-austin/5623387/

SG2


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## jtburf (May 26, 2004)

Should I use my bitcoin to buy Iraqi Dinar?

John


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## JFolm (Apr 22, 2012)

jtburf said:


> Should I use my bitcoin to buy Iraqi Dinar?
> 
> John


Yes that would be wise. You make millions off of the dinar.


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## Pocketfisherman (May 30, 2005)

They just installed an ATM machine in Austin to buy or sell Bitcoin. They're getting ready for the upcoming influx of hipsters for SxSW week, and the machine went live yesterday.


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## Cat O' Lies (May 21, 2004)

I have a whole potato sack full of bitcoins. Of course you cannot see them but, take my word for it, the sack is FULL I tell ya! Who wants to buy them at half price?


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## baron von skipjack (Jun 23, 2009)

maybe..'2 cool' needs to,,,invent,,some,,funney money


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## krusty0001 (Nov 3, 2006)

I'm in the process of starting bitbeer$. It's a virtual currency based on the worlds most stable commodity. 1 bitbeer$ = 1 real beer (domestic)

If you're a bar, and willing to accept bitbeer$, my virtual company will pay you 1000 bitbeer$ as an early adoptor.

If you'd like to buy bitbeer$, maybe as an investor or to reward a coworker, the current bitbeer$ exchange rate is $3.00. 

I'm also looking for investors to help take the company to the next level. I just started the company after reading this thread. If you're a large corporation wanting to be a dominate player in the emerging virtual beer market, I'll entertain offers for a 51% ownership. (you'd be in charge, and I'll be working on my next project) 

Thanks for your consideration :brew:


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## StinkBait (May 31, 2004)

Jolly Roger said:


> The chance of them disappearing in a millisecond is real. Do not ride the dump, set your sells close and do not look back.


rut roh

http://www.chron.com/business/techn...xchange-Mt-Gox-offline-5264551.php?cmpid=hpts


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## Cat O' Lies (May 21, 2004)

Now you see me, now you don't!


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## JFolm (Apr 22, 2012)

StinkBait said:


> rut roh
> 
> http://www.chron.com/business/techn...xchange-Mt-Gox-offline-5264551.php?cmpid=hpts


Who'd a thunk it?


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## baron von skipjack (Jun 23, 2009)

better check the news bro...you just might be taking your...bit'cons' to the scrap dealer


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## Jolly Roger (May 21, 2004)

StinkBait said:


> rut roh
> 
> http://www.chron.com/business/techn...xchange-Mt-Gox-offline-5264551.php?cmpid=hpts


Hope any 2coolers that were holding got out before the dump. Lot of hippies lost there life savings on this one, maybe they were smart enough to hedge in pot stocks.


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## bill (May 21, 2004)

bill said:


> nice sale if you can get it
> 
> Expect them to get "reviewed" hard by Governments. The buyers are on watch lists due to the high criminal activity.
> 
> ...


hope anyone has cashed out...if it was even possible


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## BullyARed (Jun 19, 2010)

Some just fall to the pigeon/con game from emu to eagle coin and now to bitcoin. Few make some many lose all.


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## bill (May 21, 2004)

I just hope it does not have a negative effect on our Pokemon collection


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## BlueWaveCapt (Jan 8, 2007)

I was just meeting with a guy that was talking to me about these Bitcoins. I (admittedly) haven't heard of them and let him talk. Smelled like a scam from the moment he said "virtual". IMO - no thanks!!


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## fishingcacher (Mar 29, 2008)

Bitcoin charts.

http://finance.yahoo.com/blogs/talk...-be-the-end-of-the-bitcoin-era-220746326.html


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## Tail_Pincher (Jul 5, 2011)

Virtual monopoly money


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## beaucp (Apr 8, 2011)

didn't the CEO just commit suicide in singapore? Or, it was ruled a 'suicide'.


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