Bitcoin

Bitcoin accepted for payment at many Major Retailers & Service Companies: Home Depot, CVS, Kmart, Sears, Amazon, Target, Apple, Dell, Bing, Microsoft, Bloomberg, Dish Network, Intuit, PayPal, MovieTickets, Overstock.com, granddaddy.com, eGifter.com, Subway, Tigerdirect, Victoria’s Secret, Virgin Galactic, Whole Foods, Zappos, just to name a few!

Governments accepting Bitcoin for tax payments.

The most widely-recognized Bitcoin critic, JP Morgan CEO Jamie Dimon confessed that he might have made an error in judgment when he criticized bitcoin believers.

Most of those retailers do NOT accept bitcoin for payment. It must first be converted via a gift card or third party before you can check out. In other words they get dollars, not bitcoins for payment.
Let me see you pay your taxes using bitcoin, assuming you work and pay taxes.
 
It is not a hoax, however it is unsecured currency with no guarantees to back it up.
More than one company has went belly-up with the use of bitcoin being the reason.

Not a challenge, but do you have links? Just curious.

I'm pretty excited by Bitcoins, and the whole idea of independent currency. If things work out, we might actually be able wrestle control of money away from bankers and armies.

Bitcoin is the opposite. Only 800 entities have any control of it. And nearly all of those are in foreign countries such as China. Bitcoin themselves have no actual power or decision ability in the policies of the fiat currency. And many of these entities are unknown sudo-companies in 3rd world countries.
Trust me - there will be scandal galore by the time it crashes and burns. And it will.

The failure of Mt. Gox could be a mortal wound for bitcoin ? Quartz
Where Did the Bitcoins Go? The Mt. Gox Shutdown, Explained - Businessweek
Bitcoin's problems are much worse than you thought - latimes.com

Well, I get the joke, even if no one else here does. I'll asplain: Those articles are all from 2014. Bitcoins then were spiking at the incredible peak of nearly $1000 per coin. Now they're 14 times that much. How do you think iamwhatiseem can afford to hangout on message boards all day? ;)
 
Is Bitcoin the biggest scam since Bernie Madoff? Is it just internet monopoly money? Do they have a Fort Knox to back it up or is it a virtual reality like Farmville? Is it a 21st century hoax?

Bitcoin is one of those things that will make some rich, and a lot poor.

Yes. Clearly government needs to get control of this e-currency business ASAP! 'cause, the poor. And the children!
 
I'm not yet sure why I should prefer a bullshit fiat currency of marginal utility over the bullshit fiat currency I'm using right now.

I understand "fuck those Rothschilds" and all, but using bitcoin to buy a sandwich remains kind of cumbersome... and dramatic.
 
The 200 day moving average currently is around 8800 dollars. From the beginning in 2010 it has NEVER broken it's 200 day average. Someone double check me on that but I believe that is correct. If it does break 8800 dollars, then to quote the late great Keith Jackson "Whoa Nellie!!!"
 
My nephew has invested into this and he was telling me all about it at a family event over xmas.

He bought it for pennies and now it is worth millions but he couldnt explain why or how. I suggested that he cashed in some or all of it to protect himself but he looked at me as if I was insane. His view was that he would lose out on future gains if he did so.

He spoke to me as though I was just out of touch with the modern investment world and didnt understand the new state of play. But I have seen this time and time again because nothing ever changes and people never learn.

He is only 23 so it wont kill him and he may learn something valuable.

I have also noticed that some folk are incredibly protective about this and like to shout down the doubters. This is because positivity is the only factor keeping it afloat. Negativity must be quashed.

While the Bitcoin hype may have currently pushed it's value to high, he is not wrong to want to keep it in his portfolio. It's worth every bit of $7.000 because it cost at least that to mine it. Big money on wall-street has been shorting it since $10,000. It's mining cost will double in 2 years & so will it's real value.

so will it's real value.

DERP!
 
The "real value" of Bitcoin is that it's not controlled by governments.
 
Monetarist economists like Ray Dalio are, I am informed, interested in the concept but have their doubts about security and whatnot.

Money is a contrivance..even if it is GOLD.

Hard to understand I am sure but there it is.
Gold has intrinsic value. Bitcoins and dollars do not.
 
The 200 day moving average currently is around 8800 dollars. From the beginning in 2010 it has NEVER broken it's 200 day average. Someone double check me on that but I believe that is correct. If it does break 8800 dollars, then to quote the late great Keith Jackson "Whoa Nellie!!!"
I wonder if today's low of $9,280 is as close as it will get to that 200 day average? It's now below mining cost.
 
The "real value" of Bitcoin is that it's not controlled by governments.

When is the last time one of those pesky "government controlled" currencies traded down 30% in one day?
It's a tradeoff, to be sure. But it seems to be a tradeoff a lot of people are willing to make.

I think it's brilliant and really hope it takes hold.

It's a tradeoff, to be sure.

No kidding.

"I hate fiat currency, it loses 3%-4% every year"

"Here, try this bitcoin"

LOL!
 
The "real value" of Bitcoin is that it's not controlled by governments.

When is the last time one of those pesky "government controlled" currencies traded down 30% in one day?
It's a tradeoff, to be sure. But it seems to be a tradeoff a lot of people are willing to make.

I think it's brilliant and really hope it takes hold.

It's a tradeoff, to be sure.

No kidding.

"I hate fiat currency, it loses 3%-4% every year"

"Here, try this bitcoin"

LOL!

You should definitely not buy any!
 
The "real value" of Bitcoin is that it's not controlled by governments.

When is the last time one of those pesky "government controlled" currencies traded down 30% in one day?
It's a tradeoff, to be sure. But it seems to be a tradeoff a lot of people are willing to make.

I think it's brilliant and really hope it takes hold.

It's a tradeoff, to be sure.

No kidding.

"I hate fiat currency, it loses 3%-4% every year"

"Here, try this bitcoin"

LOL!

You should definitely not buy any!

I wouldn't buy it with your money.
 
The "real value" of Bitcoin is that it's not controlled by governments.

When is the last time one of those pesky "government controlled" currencies traded down 30% in one day?
It's a tradeoff, to be sure. But it seems to be a tradeoff a lot of people are willing to make.

I think it's brilliant and really hope it takes hold.

It's a tradeoff, to be sure.

No kidding.

"I hate fiat currency, it loses 3%-4% every year"

"Here, try this bitcoin"

LOL!

You should definitely not buy any!

I wouldn't buy it with your money.

I don't think anyone should buy it unless they understand the political ramifications and agree with what the bitcoin movement is trying to accomplish.
 

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