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Bitcoin - Peer to Peer currency

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Re: Bitcoins - Peer to Peer currency

Just sold some that I had been holding since the 2011 crash. The levels are nutty, time to fire up the mining hardware.
 
Re: Bitcoins - Peer to Peer currency

Some Dude said:
Just sold some that I had been holding since the 2011 crash. The levels are nutty, time to fire up the mining hardware.
Click to expand...

Yeh i sold my last lot out at $90, too good and illiquid to pass up those gains.

Turned out to be one of my best investments on a % gain basis
 
Bitcoin

So, I have just been looking at Bitcoin a bit since finding out about it from the Cyphrus thread and am somewhat confused.

I understand the concept that it cannot be shut down by any Govt etc and it's apeal in that sense. I also follow there logic of low cost international transactions. They liken themselves to Egold from years past but with the advantage of not being able to be shut down. Fair enuff.

The difference I see is that Egold had something of value behind the account, you where buying electronic gold.

I don't follow what Bitcoin is backed by, as far as I can tell it's just a promise of never having more than 21 million bitcoins, otherwise it is mostly just bitcoins manufactured in a similar way to Farmville?

Now I know many people are going to say the USD is fake and manipulated and can just be printed out of thin air and all that, but putting that aside at least the USD is printed out of thin air at a controlled rate.

Bit coins, basically get "printed" at a rate that the collective owners or whatever print (bid them up) them at.
In a month Bitcoins have gone from $45 to $ 90.
Thats the same as the US printing all the money in circulation again in one month.

am I confused or missing anything????

Input apreciated

thans
 
Re: Bitcoin

clowboy said:
So, I have just been looking at Bitcoin a bit since finding out about it from the Cyphrus thread and am somewhat confused.

I understand the concept that it cannot be shut down by any Govt etc and it's apeal in that sense. I also follow there logic of low cost international transactions. They liken themselves to Egold from years past but with the advantage of not being able to be shut down. Fair enuff.

The difference I see is that Egold had something of value behind the account, you where buying electronic gold.

I don't follow what Bitcoin is backed by, as far as I can tell it's just a promise of never having more than 21 million bitcoins, otherwise it is mostly just bitcoins manufactured in a similar way to Farmville?

Now I know many people are going to say the USD is fake and manipulated and can just be printed out of thin air and all that, but putting that aside at least the USD is printed out of thin air at a controlled rate.

Bit coins, basically get "printed" at a rate that the collective owners or whatever print (bid them up) them at.
In a month Bitcoins have gone from $45 to $ 90.
Thats the same as the US printing all the money in circulation again in one month.

am I confused or missing anything????

Input apreciated

thans
Click to expand...

Bitcoin forum has all the answers

https://bitcointalk.org/

spend a day or 2 over there and then tell us what you think.
 
Re: Bitcoin

clowboy said:
So, I have just been looking at Bitcoin a bit since finding out about it from the Cyphrus thread and am somewhat confused.

I understand the concept that it cannot be shut down by any Govt etc and it's apeal in that sense. I also follow there logic of low cost international transactions. They liken themselves to Egold from years past but with the advantage of not being able to be shut down. Fair enuff.

The difference I see is that Egold had something of value behind the account, you where buying electronic gold.

I don't follow what Bitcoin is backed by, as far as I can tell it's just a promise of never having more than 21 million bitcoins, otherwise it is mostly just bitcoins manufactured in a similar way to Farmville?

Now I know many people are going to say the USD is fake and manipulated and can just be printed out of thin air and all that, but putting that aside at least the USD is printed out of thin air at a controlled rate.

Bit coins, basically get "printed" at a rate that the collective owners or whatever print (bid them up) them at.
In a month Bitcoins have gone from $45 to $ 90.
Thats the same as the US printing all the money in circulation again in one month.

am I confused or missing anything????

Input apreciated

thans
Click to expand...

My gardener, a Mr.Ponzi has accumulated near half a million bitcoins.

He's a good gardener.

gg
 
Re: Bitcoin

clowboy said:
So, I have just been looking at Bitcoin a bit since finding out about it from the Cyphrus thread and am somewhat confused.

I understand the concept that it cannot be shut down by any Govt etc and it's apeal in that sense. I also follow there logic of low cost international transactions. They liken themselves to Egold from years past but with the advantage of not being able to be shut down. Fair enuff.

The difference I see is that Egold had something of value behind the account, you where buying electronic gold.

I don't follow what Bitcoin is backed by, as far as I can tell it's just a promise of never having more than 21 million bitcoins, otherwise it is mostly just bitcoins manufactured in a similar way to Farmville?

Now I know many people are going to say the USD is fake and manipulated and can just be printed out of thin air and all that, but putting that aside at least the USD is printed out of thin air at a controlled rate.

Bit coins, basically get "printed" at a rate that the collective owners or whatever print (bid them up) them at.
In a month Bitcoins have gone from $45 to $ 90.
Thats the same as the US printing all the money in circulation again in one month.

am I confused or missing anything????

Input apreciated

thans
Click to expand...

Bitcoins are "mined" not "printed", no one arbitrarily decides to print new BTC. The supply is limited to 21 million.

BTC going from 45 to 90 in a month is NOT the same as the US printing all the money in circulation again in one month.

It is the same in theory as the US cutting the money supply in half, or the demand for USD doubling.

Obviously the demand for BTC has increased dramatically over the past month.
 
Re: Bitcoins - Peer to Peer currency

db94 said:
now 1 BTC = USD$141 just keeps soaring. gonna end badly eventually. its amazing how its value can change by %2 every few seconds :confused:

heres a live chart data platform

http://bitcoin.clarkmoody.com/
Click to expand...

My Gardener Mr.Ponzi is now a bitcoin millionaire, and I now do his garden.

My grass grows.

He has promised to cut it if all goes to crap.

gg
 
Re: Bitcoins - Peer to Peer currency

I sold out at a magic .99 predicting $1 to be a profit taking trigger guess didn't happen. Can't believe its on 1.50 already, nobody is even selling anything online on silk road anymore its too hard to keep up with the exchange.

Once this pops it will float like a rock
 
Re: Bitcoins - Peer to Peer currency

I have merged the 2 bitcoin threads we had into one
 
Re: Bitcoins - Peer to Peer currency

ASICK said:
http://www.infowars.com/bitcoin-cra...lic-prediction-by-mike-adams-of-natural-news/

up and down and up --- enjoy the ride folks.
Click to expand...

What a terrible article. I have never seen any other author try and talk themselves up so much, sounds like one of those guys trying to sell their million dollar trading systems.

Anyone (myself included in this thread) who knows even the slightest about BTCs was predicting a crash due to the illiquidity, i dont see why the author needs to write a whole article to pat himself on the back.
 
Re: Bitcoins - Peer to Peer currency

prawn_86 said:
What a terrible article. I have never seen any other author try and talk themselves up so much, sounds like one of those guys trying to sell their million dollar trading systems.

Anyone (myself included in this thread) who knows even the slightest about BTCs was predicting a crash due to the illiquidity, i dont see why the author needs to write a whole article to pat himself on the back.
Click to expand...


All these articles popped out around the time that BTC finally broke the $100 barrier, at which stage we all knew here it will end up very badly since it hit $50.

I saw a few on news.com.au as well, it was almost as if the authors got all their info from forums and quickly tried to claim some fame.

I was very suprised to see it go past $200 mark, anybody that has been following btc and half a brain would see that as a very bad signal.


Don't think there will be any ride here, just down.
 
Re: Bitcoins - Peer to Peer currency

againsthegrain said:
All these articles popped out around the time that BTC finally broke the $1 barrier, at which stage we all knew here it will end up very badly since it hit 50c.
Click to expand...

I think you need to multiply your figures by 100, it hasnt been 50c for the 3 years i have known about it
 
Re: Bitcoins - Peer to Peer currency

If it looks like a ponzi, sounds like a ponzi and moves like a ponzi, it is a ponzi for gawd's sake.

gg
 

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