Anyone know much about Bitcoin?

Discussion in 'Finance, Investments, and Careers' started by BillsCarnage, Mar 5, 2013.

  1. BillsCarnage

    BillsCarnage Registered

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  2. Gaddabout

    Gaddabout Plucky Comic Relief Contributor

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    They'll get taken down by the Fed eventually.

    You also have to think of your investment as buying currency against the dollar. Against that standard, bitcoin is like throwing money away. The only people who find value in it are digital pirates.
     
  3. Gaddabout

    Gaddabout Plucky Comic Relief Contributor

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    And here you go:

    http://pandodaily.com/2013/05/14/de...s-between-dwolla-and-bitcoin-exchange-mt-gox/

     
  4. azonaback

    azonaback Free Agent

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    about $320.
     
  5. elindholm

    elindholm rehabilitated

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    I thought about getting some for my brother as a gag gift. There's a very complicated identify verification process, there's a huge markup if you're buying a small amount, and you have to keep your "holdings" in some "virtual wallet" thing that makes sense only to techies. It's a non-starter for 99% of the population.
     
  6. BillsCarnage

    BillsCarnage Registered

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    So Bitcoin is still going strong and there are only 5 or 6 million left to be released by 2020 if i heard right (21mil total) and it's closing in on $1k.

    Sounds like China and India are responsible for the recent rise.

    It should be noted that there are other coins in, and coming into circulation, too.
     
  7. dreamcastrocks

    dreamcastrocks Chopped Liver Moderator Contributor

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    Damn. I had a bitcoin about 3 months ago and it was only ~600.
     
  8. puckhead

    puckhead Waxing Gibbous Contributor

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  9. gmabel830

    gmabel830 It's football season!!

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    I don't see Bitcoin making it big, but blockchain (what it is based on) will be big once the big banks are able to come up with viable use cases for it.
     
  10. Linderbee

    Linderbee Let's GO, CARDINALS! Contributor

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    Bitcoin hit $9k this weekend; what is "big" to you?
     
  11. Russ Smith

    Russ Smith The Original Whizzinator Contributor

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    The thing that scares me about Bitcoin is you hear horror stories of people trying to sell. They either get fleeced by some scam, or the bank refuses to take the deposit because the bank doesn't consider bitcoin viable. In one case a guy waited months for the bank that had blocked all his deposits, he went after the buyer who actually had done nothing wrong. Eventually the bank decided to approve the deposits and even gave him extra money because they had made it so hard for him to make the deposit.

    Square is one of the stocks I own, they were allowing people to buy and sell bitcoin using their system and Square was up nearly 100% since I bought it. I had a sell order for 50, it hit 49.56 and then yesterday some analyst said that Bitcoin is a bubble and too much of the run by Square was because of Bitcoin, so square fell 16% in one day for nothing but that analyst comment. I'm still way up on it but that is the downside to Bitcoin, there's lots of people who just don't trust it.
     
  12. Superbone

    Superbone Phoenix native; Lifelong Suns Fan

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    I bought blockchain technology a little over a month and a half ago. $1000 of Etherium and $1000 of Litecoin. They are currently up over 50% combined. This is totally speculative. I'm prepared to lose it all.
     
  13. puckhead

    puckhead Waxing Gibbous Contributor

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    :eek:

    lostcoins-800x448.jpg

    http://fortune.com/2017/11/25/lost-bitcoins/
     
  14. thirty-two

    thirty-two Cranky Contributor

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    I simply cannot understand what Bitcoin is. Software wallets, mining, etc. I can’t grasp it. I know it’s a from of currency and that some dude started in 2009. How do you mine it? Is it only worth money because other people want it?

    Can someone seriously dumb it down for me? Like, 3rd grade level?
     
    Mainstreet, Southpaw and Linderbee like this.
  15. Dback Jon

    Dback Jon Killer Snail Contributor

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    yeah that
     

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