Bitcoin

Beerj · Dec 23, 2017

https://youtu.be/te2bDJT_S9o
35%

money_pit_yj · Dec 23, 2017

blacksheep10 said:
Like buying Peso's thinking the value of Peso's to dollars is going to go way up. It is a new currency, which has value, as do all currencies, in the faith that when you go to pay someone with it, they will take it and give you and equal agreed upon amount of goods. Fiat's are "backed" by a gov't, but really only buy the "faith" that the gov't is good for it and it will be accepted. Buying speculatively, is just a short lived deal, the only reason it was climbing is everybody was finding out about it and buying. Finite resource, huge demand, it climbs. Now as demand levels out and more people are selling than buying, no **** the price is dropping. They won't make any more of them so you are trading little pieces of a bitcoin. XRP and others are at the inception, so you can buy a whole coin for not much, not a .00000001 of a coin. Again, it is all based on the idea that people all around the world will accept this as a form of payment, and it will be widely enough accepted that it has trust and faith in the logarithm that ensures its safety and accuracy etc. This is what you're buying, faith in a computer program as a store of value kind of. This is from passive googling, and very little knowledge.

I've done that to. I have yet to have anyone explain to me how this is more than an elaborate pyramid scheme polished up to look new and revolutionary. I don't see crypto currency taking the world by storm but then again I thought the internet was a fad and MySpace was gonna bury Facebook.....

trucker · Dec 23, 2017

I have yet to find anywhere that takes Bitcoin as payment for anything.

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Beerj · Dec 23, 2017

Re: Re: Bitcoin

trucker said:
I have yet to find anywhere that takes Bitcoin as payment for anything.

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.

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trucker · Dec 24, 2017

Re: Re: Re: Bitcoin

Beerj said:
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Well there ya go. Must be places that only rich ppl shop I guess.

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TacomaJD · Dec 24, 2017

Re: Re: Bitcoin

money_pit_yj said:
I'š'žve done that to. I have yet to have anyone explain to me how this is more than an elaborate pyramid scheme polished up to look new and revolutionary. I don'š'žt see crypto currency taking the world by storm but then again I thought the internet was a fad and MySpace was gonna bury Facebook.....

Pretty much my outlook. It's like something derivitive of a visionary like Elon Musk that thinks self driving cars are going to take over the market in the near future. The **** is never gonna catch on and be a widely used currency, imo. Which makes its trading frenzy very much like a Ponzi scheme.

Doesn't mean there isn't money to be made in it with the right timing and approach. But the concept of this new currency trading like hell, then it falling off and the next one like XRP or bitcoin lite (or whatever the fawk it is) taking off as the next "big one" is crazy. The concept is damn near ridiculous, and the fact that it's attracted so many investors is even more ridiculous. It's like the impulse-buy items near walmart registers for day traders.

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onepieceatatime · Dec 24, 2017

I think it's funny people can laugh off bitcoin but never question the dollar. Its literally just pieces of paper or zeros on a computer screen that's back by nothing, more of it can be made at anytime, and every dollar just means that we owe more dollars in interest to a private company that's called the Federal Reserve but it is as federal as Federal Express. I see bitcoin as a step in the right direction towards getting away from our current nonsensical monetary policy.

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98TJ · Dec 24, 2017

Just like with a chain letter, the last guy holding the bag is gonna take it up the ass.

Merry Christmas All!!!!

blacksheep10 · Dec 24, 2017

onepieceatatime said:
I think it's funny people can laugh off bitcoin but never question the dollar. Its literally just pieces of paper or zeros on a computer screen that's back by nothing, more of it can be made at anytime, and every dollar just means that we owe more dollars in interest to a private company that's called the Federal Reserve but it is as federal as Federal Express. I see bitcoin as a step in the right direction towards getting away from our current nonsensical monetary policy.

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Yes, pretty much agree.

Ricky 79cj-7 · Feb 2, 2018

What's the latest on bitcoin? I've seen several articles taking about massive losses recently.

al1tonyota · Feb 2, 2018

Ricky 79cj-7 said:
What's the latest on bitcoin? I've seen several articles taking about massive losses recently.

tonybolton · Feb 2, 2018

ERRRMMAAAAGEEERDDD WE ALL GAWN DIIIIIEE!!!

al1tonyota · Feb 2, 2018

Another bad day for the new internet money

brokexj · Feb 2, 2018

It's like a perverts peter.itll come back up.theres a little manipulation going on right now.theres groups that are doing pump and dump.thats hurting all crypto coins right now.

ranger11 · Feb 2, 2018

It's only bad if you bought high and still have it. Just like stocks buy low sell high... Sure hope no one bought them when they were 18k. And it will come back up, when the news stops reporting on it. Mines still tripple my 401k. I'm waiting to see what happens.

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98TJ · Feb 3, 2018

Bitcoin equal chain letter.

https://www.wsj.com/articles/bitcoin-is-falling-fast-losing-more-than-half-its-value-in-six-weeks-1517556514

JRush · Feb 3, 2018

onepieceatatime said:
I think it's funny people can laugh off bitcoin but never question the dollar. Its literally just pieces of paper or zeros on a computer screen that's back by nothing, more of it can be made at anytime, and every dollar just means that we owe more dollars in interest to a private company that's called the Federal Reserve but it is as federal as Federal Express. I see bitcoin as a step in the right direction towards getting away from our current nonsensical monetary policy.

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Google the Rothschild family if you would like to see who controls the money around the world.

onepieceatatime · Feb 3, 2018

Re: Re: Bitcoin

JRush said:
Google the Rothschild family if you would like to see who controls the money around the world.

I did that awhile ago and that's exactly why bitcoin interests me.

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slravenel · Feb 5, 2018

Re: Re: Bitcoin

onepieceatatime said:
I did that awhile ago and that's exactly why bitcoin interests me.

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(Not picking on you...but I hear this from people a decent bit)

Then why not just buy into ANY commodity in the market?

There are tons and tons and tons of physical commodities you can buy into in the stock market that are actually backed by something. Bitcoin is not (just using this since you are mentioning it about the dollar). You could go and leverage your dollar with 10,000 tons of datgum seashells if you wanted to. I'm not necessarily recommending it unless you really knew what you were doing... but it can be done