Bitcoin

[Toddsterpatriot]

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.

If you think buying bitcoins, or any other crypto, is going to protect you somehow from the government..........

 

[dblack]

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.

If you think buying bitcoins, or any other crypto, is going to protect you somehow from the government..........

If government wants to fuck with you, bitcoin won't protect you, that's true. But it does undermine the ability of government to control your money. And that's big. Governments won't take it lying down. The screeching we're hearing now is only the beginning.

 

[Toddsterpatriot]

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.

If you think buying bitcoins, or any other crypto, is going to protect you somehow from the government..........

If government wants to fuck with you, bitcoin won't protect you, that's true. But it does undermine the ability of government to control your money. And that's big. Governments won't take it lying down. The screeching we're hearing now is only the beginning.

But it does undermine the ability of government to control your money.

How many bitcoin exchanges have been hacked/looted in the last 3 years?

 

[dblack]

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.

If you think buying bitcoins, or any other crypto, is going to protect you somehow from the government..........

If government wants to fuck with you, bitcoin won't protect you, that's true. But it does undermine the ability of government to control your money. And that's big. Governments won't take it lying down. The screeching we're hearing now is only the beginning.

But it does undermine the ability of government to control your money.

How many bitcoin exchanges have been hacked/looted in the last 3 years?

I don't know. How does that counter my claim? I acknowledged it's risky. A lot of people would rather be subject to the volatility of a real free market than the banksters and their cronies in government pulling the strings.

 

[Toddsterpatriot]

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.

If you think buying bitcoins, or any other crypto, is going to protect you somehow from the government..........

If government wants to fuck with you, bitcoin won't protect you, that's true. But it does undermine the ability of government to control your money. And that's big. Governments won't take it lying down. The screeching we're hearing now is only the beginning.

But it does undermine the ability of government to control your money.

How many bitcoin exchanges have been hacked/looted in the last 3 years?

I don't know. How does that counter my claim? I acknowledged it's risky. A lot of people would rather be subject to the volatility of a real free market than the banksters and their cronies in government pulling the strings.

How does that counter my claim?

Safe from government control while getting all your bitcoins stolen doesn't sounds like a good trade-off.

A lot of people would rather be subject to the volatility of a real free market

What does a free market have to do with these crypto chain letters?

 

[dblack]

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.

If you think buying bitcoins, or any other crypto, is going to protect you somehow from the government..........

If government wants to fuck with you, bitcoin won't protect you, that's true. But it does undermine the ability of government to control your money. And that's big. Governments won't take it lying down. The screeching we're hearing now is only the beginning.

But it does undermine the ability of government to control your money.

How many bitcoin exchanges have been hacked/looted in the last 3 years?

I don't know. How does that counter my claim? I acknowledged it's risky. A lot of people would rather be subject to the volatility of a real free market than the banksters and their cronies in government pulling the strings.

How does that counter my claim?

Safe from government control while getting all your bitcoins stolen doesn't sounds like a good trade-off.

So what? If it's too risky for you, don't invest. What does that have to do with what I'm talking about?

A lot of people would rather be subject to the volatility of a real free market

What does a free market have to do with these crypto chain letters?

Everything.

 

[Selivan]

Bitcoin is nonsense ...
Buy this:
- The price is guaranteed to increase by 20 percent per week ...

But...
I will write "in small letters" ...
This was in Russia in 1993

 

[KissMy]

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.

Mining a coin cost is currently $2,090 for 2 years of electricity + $4,000 for the most efficient miner that can mine 1 coin over the next 2 years before the coin reward gets cut in half. + 3% pool fee

That puts current cost to create a new Bitcoin at $6,300

 

[LOki]

 

[Cellblock2429]

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

^^^ Never listen to this idiot! ^^^

Why since he is making perfect sense....

LOL The idiot said that when Bitcoin was $400. You 2 are making no sense or cents!

/----/ Two new Blockchain ETFs opened today. You no longer have to own Bitcoin to be in the market. I'm not saying I'm buying them but it's a game changer.
http://www.nasdaq.com/article/blockchain-etfs-profit-from-the-technology-behind-bitcoin-cm892139

 

[james bond]

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?

About three months ago if you held on to a $10K investment from 2014 - 15, then you would've make a cool million. That said, most people make a thou or two and sell. Today, the bottom has dropped out (40% loss+) so it's schwetty balls time.

 

[frigidweirdo]

Bitcoin tumbles below $9,000 as Facebook bans cryptocurrency adverts

"Bitcoin has tumbled below $9,000 for the first time in two months after sentiment slipped amid rising regulatory concerns in India and Facebook banning "deceptive" cryptocurrency adverts."

India is attacking Bitcoin, Korea has attacked Bitcoin, Facebook has attacked Bitcoin.

People might start panicking soon.

 

[KissMy]

Bitcoin tumbles below $9,000 as Facebook bans cryptocurrency adverts

"Bitcoin has tumbled below $9,000 for the first time in two months after sentiment slipped amid rising regulatory concerns in India and Facebook banning "deceptive" cryptocurrency adverts."

India is attacking Bitcoin, Korea has attacked Bitcoin, Facebook has attacked Bitcoin.

People might start panicking soon.

I love it. Soon the price will get down to the $6300 mining cost. Then I will buy some. They have tried to stop it for 10 years now & can't get it done.

 

[frigidweirdo]

Bitcoin tumbles below $9,000 as Facebook bans cryptocurrency adverts

"Bitcoin has tumbled below $9,000 for the first time in two months after sentiment slipped amid rising regulatory concerns in India and Facebook banning "deceptive" cryptocurrency adverts."

India is attacking Bitcoin, Korea has attacked Bitcoin, Facebook has attacked Bitcoin.

People might start panicking soon.

I love it. Soon the price will get down to the $6300 mining cost. Then I will buy some. They have tried to stop it for 10 years now & can't get it done.

The problem is they're finding that Bitcoin makes for a great way of dealing in illegal money. I don't think Trump will touch it, he likes illegal money, but most other countries don't. The more these countries attack Bitcoin, the lower it goes. If it gets to $6000, people will probably back off even more.

 

[KissMy]

Bitcoin tumbles below $9,000 as Facebook bans cryptocurrency adverts

"Bitcoin has tumbled below $9,000 for the first time in two months after sentiment slipped amid rising regulatory concerns in India and Facebook banning "deceptive" cryptocurrency adverts."

India is attacking Bitcoin, Korea has attacked Bitcoin, Facebook has attacked Bitcoin.

People might start panicking soon.

I love it. Soon the price will get down to the $6300 mining cost. Then I will buy some. They have tried to stop it for 10 years now & can't get it done.

The problem is they're finding that Bitcoin makes for a great way of dealing in illegal money. I don't think Trump will touch it, he likes illegal money, but most other countries don't. The more these countries attack Bitcoin, the lower it goes. If it gets to $6000, people will probably back off even more.

Yup, that's the cycle. It went up to $31 in 2011 then fell to $2 about 6 months later. Then $1200 in 2013 & slid to $203 a year later. So it is crashing currently. I just want to buy low & wait for the next rocket ride when the US dollar is in crisis.

 

[KissMy]

Here is a good overview why governments can't stop Bitcoin.

I don't see how a government (even the US one) can stop a technology that is even moderately popular.

Consider this. 15-20 years ago cryptography was still a military technology. I myself remember using Internet Explorer 5 in 1999 that was shipped with laughable 40-bit encryption outside the USA because of export controls.

In 1997, Louis J. Freeh, director of the FBI said in his testimony to the Senate Judiciary Committee (https://epic.org/crypto/legislat...) that "Uncrackable encryption will allow drug lords, spies, terrorists and even violent gangs to communicate about their crimes and their conspiracies with impunity."

(Notice how the fear monger rhetorics never changes, it's drugs and terrorists again...)

Naturally, all attempts to limit the use of cryptography were in vain. The 21st century is a wiretapper's nightmare: every computer user routinely uses uncrackable encryption while watching cat pictures over https. Someone who cares about their privacy can fully encrypt their entire hard drive (TrueCrypt), encrypt their e-mail (PGP), browse the web anonymously (Tor) and use a decentralized virtual currency for their dealings (Bitcoin).

Thus, my opinion is that the US government wouldn't be able to stop Bitcoin (even if they wanted to, which is in the realm of wild speculation.) Bitcoin will stand or fall on its own merit.

 

[frigidweirdo]

Bitcoin tumbles below $9,000 as Facebook bans cryptocurrency adverts

"Bitcoin has tumbled below $9,000 for the first time in two months after sentiment slipped amid rising regulatory concerns in India and Facebook banning "deceptive" cryptocurrency adverts."

India is attacking Bitcoin, Korea has attacked Bitcoin, Facebook has attacked Bitcoin.

People might start panicking soon.

I love it. Soon the price will get down to the $6300 mining cost. Then I will buy some. They have tried to stop it for 10 years now & can't get it done.

The problem is they're finding that Bitcoin makes for a great way of dealing in illegal money. I don't think Trump will touch it, he likes illegal money, but most other countries don't. The more these countries attack Bitcoin, the lower it goes. If it gets to $6000, people will probably back off even more.

Yup, that's the cycle. It went up to $31 in 2011 then fell to $2 about 6 months later. Then $1200 in 2013 & slid to $203 a year later. So it is crashing currently. I just want to buy low & wait for the next rocket ride when the US dollar is in crisis.

But this time might potentially be different. The people buying Bitcoin has changed. You're getting people with no clue. People who panic far more.
The laws against Bitcoin have changed too, before Bitcoin was always more or less left alone, now countries are seeing the problems with Bitcoin and coming down on it.

 

[dblack]

...
The laws against Bitcoin have changed too, before Bitcoin was always more or less left alone, now countries are seeing the problems with Bitcoin and coming down on it.

Yes. They're see their power base being ripped out from under them. They won't give it up without a fight.

 

[KissMy]

...
The laws against Bitcoin have changed too, before Bitcoin was always more or less left alone, now countries are seeing the problems with Bitcoin and coming down on it.

Yes. They're see their power base being ripped out from under them. They won't give it up without a fight.

There ain't enough of them to stop the Bitcoin tidal wave. There ain't enough jails either. Bitcoin will revoke government credit cards globally. They will have to do major spending cuts. No money to fund the anti-bitcoin forces.

 

[dblack]

...
The laws against Bitcoin have changed too, before Bitcoin was always more or less left alone, now countries are seeing the problems with Bitcoin and coming down on it.

Yes. They're see their power base being ripped out from under them. They won't give it up without a fight.

There ain't enough of them to stop the Bitcoin tidal wave. There ain't enough jails either. Bitcoin will revoke government credit cards globally. They will have to do major spending cuts. No money to fund the anti-bitcoin forces.

Hopefully. We'll see.