Just sold some that I had been holding since the 2011 crash. The levels are nutty, time to fire up the mining hardware.
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
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
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
Article is nearly 2 years old
now 1 BTC = USD$141 just keeps soaring. gonna end badly eventually. its amazing how its value can change by %2 every few seconds
heres a live chart data platform
http://bitcoin.clarkmoody.com/
Got smashed last night lost half it's value!
http://www.infowars.com/bitcoin-cra...lic-prediction-by-mike-adams-of-natural-news/
up and down and up --- enjoy the ride folks.
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.
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.
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