Does anyone invest in Bitcoin?

[Fueri]

I did ignore that post on the electricity, but only because I found it to be non-serious and intentionally so. In other words I thought the poster was just screwing around.

It is also wrong. It is a decentralized, global network with just under 10,000 nodes running. Nobody and nothing can just "turn off the electricity" unless they want to shut down the entire power grid of the planet and shut down the satellites that are now running nodes as well.

They can make it illegal and maybe they will try to do just that, which would be more on point to the actual discussion you seem to be forwarding.

Thing is, people have been saying this for quite a long time. Could it happen? Sure. Lots of things can happen, and people like Dimon at Chase are definitely going to give it a shot, which I have no doubt about, for the simple reason that it very definitely poses a threat to their absolute control of the system, so I don't actually disagree with you there. Those bastards will "lobby" their congresspeople to the best of their ability I have no doubt.

will they be successful. I don't know. what I do know is that they've been kicking it in the balls since Day 1 and the market is growing, uses are growing, adoption is growing, regulation is forming around it, but nothing to this point indicates a movement to make it illegal.

I'll hold my stuff for now, but I don't ignore the actions of the powers that be either, as I do obviously recognize the threat they pose with respect to these assets and their value.

Uh huh?

Barter your bit coin for food. The transaction requires that the guy who grew the crop has a bit coin account,

We have a binder full of morons.

Totally incorrect, of course. There are now debit cards that can be swiped like any other card, backed by bitcoin or other cryptos, with no difference on the front end whatsoever.

If that doesn't work for you they can be sold instantly to cash as easily as any other liquid asset, such as a stock or cd or whatever, wth that cash then transferred directly into your bank account as would be the case if you sold a stock or anything else.

Btc is up 700+% just this year. Ethereum is up more like 2-3000%.

Laugh at us "morons" all you like. We're laughing all the way to the bank. Lol.

What is the difference between bitcoin clicking money into existance and The Federal Reserve.....same scam it seems to me

One the primary differences when considering supply is that the supply of BTC is controlled and finite. Btc is issued at a set rate over time. Scarcity is also built into the code, with only a pre-established number (21 million) that will ever be issued.

Yeah so...........

I thought you were referring to a supply issue as exists when a fiat organization just cranks up supply. Maybe we simply weren't on the same page there....

 

[percysunshine]

"Gemstones are, in fact, just colorful gravel. They’re just rocks that we’ve given special names. True jewels are things that are beautiful and scarce. We want them because few others can possess them. We want them even more if they are from some very faraway, exotic place. Their value is, and always has been, 90 percent imaginary."

Keep the Change: The Beads that Bought Manhattan | HuffPost

 

[danielpalos]

I have almost earned a whole cent.

 

[Fueri]

The Wall St train continues to pick up passengers


Nasdaq Plans to Launch Bitcoin Futures in First Half 2018

Nasdaq Plans to Launch Bitcoin Futures in First Half 2018
Separately, Cantor Fitzgerald plans derivatives based on the cryptocurrency on its exchange




Wall Street Journal: Nasdaq to Offer Bitcoin Futures in June 2018


"The Nasdaq exchange may begin to offer Bitcoin futures as early as June 2018, according to a report issued by the Wall Street Journal. The report indicates that the stock exchange will follow suit behind the two Chicago-based marketsthat have already indicated the specifics of their Bitcoin futures plans.

While regulatory approval is still pending, the reality that Bitcoin futures are an in-demand option has driven a number of exchanges to at least consider the possibility. According to John D’Agostino, a former Nymex executive and current exchange board member:

“Every research department of every regulated exchange is saying, ‘Can we do this?’ “The majority of costs associated with that are marketing. If people want to trade this thing, why wouldn’t you? This is a gift from the heavens.”

According to the report, the exchange would add the Bitcoin contract onto its existing Nasdaq Futures platform (NFX). The platform was launched in 2015 and has mainly focused on energy trading, but would now be potentially repurposed to include cryptocurrency contracts.

While CME Group has a much larger futures market than Nasdaq, the latter has greater name recognition among retail investors. Nasdaq’s imprimatur might make a significant difference for ordinary investors who might be on the fence about whether to buy digital currency."

 

[danielpalos]

I am considering multiple free cloud services.

 

[danielpalos]

How much computing power can fusion (an energy with a future) give us?

 

[snow]

my boss travels the world getting people to sign up for bitecoins. He travels to Asia and South America.

When he's purchasing something at home like a swimming pool, or car he always asks do you take bitecoins? The answer is always no.


anyway, he invested a long time ago it's my understanding it's kind of like Amway pyramid.

it is also volatile and goes up 800.00 in price and then drops down unexpectedly. He's told me to stay out of it. So i suspect it's like the stock market a big beautiful bubble. .

 

[Wild Flower]

I haven't looked into it, but I just saw that bitcoins are now worth more than an ounce of gold. If anyone owns them or understands how this "currency" works, please explain.

Don't buy them. If you want to get your feet wet then use your play money only. Say you want to go to Vegas and willing to throw away 5000 for a fun vacation. Then you can only use 5000 to buy bit coins. If bit coin pisses off any government on earth enough then that government can destroy bit coin. China can totally destroy bit coin if it is pist off enough. All it takes is millions of dollars of computer power to do it. Only a government could do that or some billionaire who is bored with his money.

 

[MarathonMike]

I haven't looked into it, but I just saw that bitcoins are now worth more than an ounce of gold. If anyone owns them or understands how this "currency" works, please explain.

Don't buy them. If you want to get your feet wet then use your play money only. Say you want to go to Vegas and willing to throw away 5000 for a fun vacation. Then you can only use 5000 to buy bit coins. If bit coin pisses off any government on earth enough then that government can destroy bit coin. China can totally destroy bit coin if it is pist off enough. All it takes is millions of dollars of computer power to do it. Only a government could do that or some billionaire who is bored with his money.

I made some money trading Ethereum (prolly shoulda held it doh!). I agree that cryptocurrency would fall into the 10% bucket as in: carefully invest 90% of what you save and go crazy with the other 10%.

 

[Fueri]

I haven't looked into it, but I just saw that bitcoins are now worth more than an ounce of gold. If anyone owns them or understands how this "currency" works, please explain.

Don't buy them. If you want to get your feet wet then use your play money only. Say you want to go to Vegas and willing to throw away 5000 for a fun vacation. Then you can only use 5000 to buy bit coins. If bit coin pisses off any government on earth enough then that government can destroy bit coin. China can totally destroy bit coin if it is pist off enough. All it takes is millions of dollars of computer power to do it. Only a government could do that or some billionaire who is bored with his money.

I made some money trading Ethereum (prolly shoulda held it doh!). I agree that cryptocurrency would fall into the 10% bucket as in: carefully invest 90% of what you save and go crazy with the other 10%.

Ethereum is whipping ass. Up over 800 today.

First day of futures trading on the CME for bitcoin and we're seeing some minor decline in BTC price. Running around 19,000 right now, but no major sell off yet, despite some predictions that the bears would rule.

Getting interesting now...

 

[MarathonMike]

lol. You would have to have balls the size of cantelopes to short cryptocurrency right now IMO.

 

[Fueri]

lol. You would have to have balls the size of cantelopes to short cryptocurrency right now IMO.

True enough, although some of the Wall street folks were prognosticating that the ability to short hadn't really been there prior to the futures launch so we might see the bears come to the table licking their chops.

actually that ability has been there via a few exchanges already, so I wasn't totally in agreement with that, but I am curious to see how the price discovery plays out. We may see a dip here, and it wouldn't totally surprise me, but whether that is fueled by bears gobbling up shorts or people pulling their money to take profit and/or guard against near term uncertainty based around these major exchange launches it is hard to say.

and, of course, there are many people calling this the bubble to end all bubbles so it will also be interesting to see how many of those put their money where their mouth is. lol.

 

[danielpalos]

A free bitcoin mining website stopped paying and the site is no longer online.

 

[MarathonMike]

I saw an interesting interview a few weeks ago with a Bitcoin guru who said that the earlier pullbacks in BTC were on the order of 85% of the peak and he thought that going forward BTC would see similar pullbacks but overall will continue trending up.