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/cgi-bin/YaBB.pl General Category >> Politics, Religion (Tall Table) >> Dabbnabbit!!!! 20/20 hindsight /cgi-bin/YaBB.pl?num=1385418438 Message started by Pine on 11/25/13 at 14:27:18 |
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Title: Dabbnabbit!!!! 20/20 hindsight Post by Pine on 11/25/13 at 14:27:18 So... a few cools things have happend recently: 1) US congress affirmed they will not "attack" Bitcoin, thus it is "legit" 2) China has affirmed they will not attack Bitcoin, and suggest its use #2 is huge... as in Bitcoin went from sub $300 to over $1000 EACH why does that frustrate me??? becuase Litecoin, is loosley tied to how Bitcoin is doing and thus LiteCoin is now up to $9.64 EACH... or nearly 4 times what I sold mine for. At the same time silver is down by nearly $5 or 20%... My near 200 Litecoins that I had are now worth near $2000, while the 18 ounces of silver I bought are worth $365. See my old post here: http://suzukisavage.com/cgi-bin/YaBB.pl?num=1377698259 I dont think it will stay this way long. I do not think LiteCoins will stay at $10 for long at all... by january I predict half. Nor will Bitcoin stay at $1000, but it will stay above $500 for a long while to come. Silver.... aggg... I keep looking for it to drop more. I want to see $18.75 to buy more. I then see it returning to a more "normal" price of $30. |
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Title: Re: Dabbnabbit!!!! 20/20 hindsight Post by Pine on 11/25/13 at 14:29:38 note its been suggested that China is supportive of Bitcoin as a tool to replace the US dollar as the world currency. So its not so much that they are 'for' BitCoin as much as they are against the domination the US dollar currently enjoys. |
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Title: Re: Dabbnabbit!!!! 20/20 hindsight Post by justin_o_guy2 on 11/25/13 at 21:15:28 Nice thing about investing, you can still place a bet after the race has started,,Sure, ya missed the launch,, the Big Bang,, but, it may just be the up & comer, OR, someone may hack the system & it could be the down & goner.. I dont trust it, and those "assurances" mean nothing to me, but, Im a cynical bastard. |
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Title: Re: Dabbnabbit!!!! 20/20 hindsight Post by mpescatori on 11/26/13 at 04:51:49 Would you please explain what all this is about ? Nobody mentions bitcoins here in Europe... ::) |
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Title: Re: Dabbnabbit!!!! 20/20 hindsight Post by Pine on 11/26/13 at 07:10:53 2D3025332321342F3229400 wrote:
I would be glad too, but honestly.. you would do better just searching on Youtube. Basically, BitCoins ( aka BTC) is a purely digital currency. There is no physical manifestation, just a transaction log saying what wallet has what. Notice I said what wallet.. not "who". A wallet creates an account ( free) and you can have as many as you want. Folks can give you BTC or you them... no bank... no real centralized function... except the transaction log. A wallet has a claim to BTC because the transactin log agrees that the BTC in it came from somewhere that had them.. all the way back to the begining of BTC. This is called the Block Chain. Why use it? The creation of BTC ( each coin) is very controlled by a set algorithm. They can only be created so fast, and there will only ever be so many. So governments that steal wealth by inflation cannot do so with BTC. Since transactions function "banklessly" transaction fees are tiny.. and I mean down to hundreths of a percent, versus the 2.9 for paypal or 3.9 for bank wire. As for Europe not knowing about it... you need to look around abit. When the government cracked down on Cyprus bank accounts, BTC went from nothing to over $200 each. It became a way to secure your wealth.. to store it against the government and the complicit banks. The UK is a huge supporter of its use. You can walk into a pub, hold up your iphone and transfer the BTC needed to buy a pint. I dont have an account with Reddit - but a google search showed this: http://www.reddit.com/r/Bitcoin/comments/1qd7mc/italian_blog_on_bitcoin/ Currently, other than maybe Iceland, every country is in competition to inflate their currency, this was pretty much started by the US (globally). Though of course there are other more sad stories such as Argentina or Zimbabweh (sp). Personally, I have not "bought" any such digital currency. I still see a hugh risk. But l like tech toys so I played around and "mined" some to see how it would go. It was very fun... but not so profitable. Still my mined coins that I have left are woth $80 up from $16! |
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Title: Re: Dabbnabbit!!!! 20/20 hindsight Post by Paraquat on 11/26/13 at 09:26:56 I still haven't gotten in on this bitcoin thing. Now I wish I did. --Steve |
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Title: Re: Dabbnabbit!!!! 20/20 hindsight Post by mpescatori on 11/29/13 at 08:44:40 The UK is a huge supporter of its use. You can walk into a pub, hold up your iphone and transfer the BTC needed to buy a pint. OK, we have that too, BUT it's not "virtual money" you spend, it's very very real money you spend. Quite simply, the money you spend at the pub is billed on your credit card through the cellphone provider. i.e., your VISA pays your T-Mobile, you have a contract for $30/month? One beer at the pub, $5, the T-Mobile charges will be $35 overall. VERY real money, trust me. OR... I have still misunderstood... |
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Title: Re: Dabbnabbit!!!! 20/20 hindsight Post by justin_o_guy2 on 11/29/13 at 09:29:04 Its REAL $$$. Thats why I dont believe the claim they arent gonna attack it. No WAY will the fed & the other privately owned central banks allow competition like this. They may be playing in it, making the bubble,then crush it & those who buy in lose their $$$. |
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Title: Re: Dabbnabbit!!!! 20/20 hindsight Post by justin_o_guy2 on 11/29/13 at 13:55:06 http://www.thebubblebubble.com/south-sea-bubble/ ( Isaac Newton went broke in this one,, yea, he was a dummy, right? anyone can get suckered in) IF you had put $$$ into Bitcoin, when would you have sold? Can you recognize a bubble? http://www.ibtimes.com/great-tulip-bubble-1623-428432 As long as someone has the knowledge & understanding to get in & get out before it crashes,, then theres $$$ to be made on the backs of the deceived masses. . |
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Title: Re: Dabbnabbit!!!! 20/20 hindsight Post by Pine on 11/30/13 at 21:15:34 Wow.. so Wed Lite-coins ( what I had) hit $30 each, meaning that my mere 8 coins was enough to buy more physical silver ( which I did).. then of course Friday.. it hit $45. GAHH..... This means had I kept all my 224 lite-coins ( approx) that I got for FREE (not really I had to buy equipment.. which I used then sold) ... I would have had nearly $10,000 worth of the things on Friday. As it is I have zero. Oh well.. not as bad as the guy who tossed an old PC.. only to realize he did not back up 7500 Bit Coins... at $1000 each. Such a loss can never be recovered. |
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Title: Re: Dabbnabbit!!!! 20/20 hindsight Post by justin_o_guy2 on 11/30/13 at 22:17:33 Well, I wouldnt have gone & Bought the coins, BUT, if I HAD them, I mita held on to them a while,., OOPSIES! |
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