Anybody invest in Bitcoin?

musmanni
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Edited Date/Time 2/25/2014 10:14am
$24 invested in Bitcoin now worth $690,000.

That means if you invested $5,000, you would now have $143,750,000
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FastEddy
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10/29/2013 9:37pm Edited Date/Time 10/29/2013 9:41pm
Yep.
Been rising & rising with the media coverage ,becoming more well known ect....
Hopefully it continues to rise.It does dip now & again but always seems to come back stronger & rise more.
This is the site I been using to follow the market. http://markets.blockchain.info

Smoker sent me this article today - pretty cool idea.
Bitcoin ATM: http://www.wired.com/wiredenterprise/2013/10/bitcoin_atm_gallery/
XXVoid MainXX
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10/30/2013 5:14am
I was talking about that kiosk machine that they were fiddling with in the article.

The Shop

10/30/2013 1:14pm
I got a bad feeling about this. What the government can't control, generally speaking, they will destroy - or try to.

Considered Bitcoin for a while, but I've been on the heavy metal plan for quite some time. Lead, gold, silver.
IWreckALot
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10/31/2013 5:16am
Can someone explain a bitcoin? Everything I've read is it's a digital currency but how is it different than cash? What can you get with a bitcoin other than a hitman and drugs?
FastEddy
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10/31/2013 1:55pm Edited Date/Time 10/31/2013 2:53pm
IWreckALot wrote:
Can someone explain a bitcoin? Everything I've read is it's a digital currency but how is it different than cash? What can you get with a...
Can someone explain a bitcoin? Everything I've read is it's a digital currency but how is it different than cash? What can you get with a bitcoin other than a hitman and drugs?
There's a list of places here: https://en.bitcoin.it/wiki/Trade You can also use google if you want find more places.

It's a virtual currency.
I've been trading it like stock.
Recently,I'll buy low when it goes down into the $170's and then exchange a little when it goes up into the higher $190's & lower $200's. It's all profit if done right & timing is crucial. There are exchanges...
I haven't been buying items with it ,just trading for USD and buying again and building up my wallets.
But on that link I posted are places you could use it at - or search google for places.
More & more sites are starting to accept it as a form of payment.
motosmith
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10/31/2013 3:47pm
IWreckALot wrote:
Can someone explain a bitcoin? Everything I've read is it's a digital currency but how is it different than cash? What can you get with a...
Can someone explain a bitcoin? Everything I've read is it's a digital currency but how is it different than cash? What can you get with a bitcoin other than a hitman and drugs?
FastEddy wrote:
There's a list of places here: https://en.bitcoin.it/wiki/Trade You can also use google if you want find more places. It's a virtual currency. I've been trading it...
There's a list of places here: https://en.bitcoin.it/wiki/Trade You can also use google if you want find more places.

It's a virtual currency.
I've been trading it like stock.
Recently,I'll buy low when it goes down into the $170's and then exchange a little when it goes up into the higher $190's & lower $200's. It's all profit if done right & timing is crucial. There are exchanges...
I haven't been buying items with it ,just trading for USD and buying again and building up my wallets.
But on that link I posted are places you could use it at - or search google for places.
More & more sites are starting to accept it as a form of payment.
Is there a fee per trade?
FastEddy
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10/31/2013 3:51pm Edited Date/Time 10/31/2013 4:07pm
motosmith wrote:
Is there a fee per trade?
Just depends on your trading methods and what exchanges you use. Like other things online.
I use private underground type exchanges.

Let's say you used paypal to receive the funds and I bought BTC's from you privately - well they(paypal) take a small percentage.Just as they always do when people use their service.
It just depends on how you do it...
You may be charged for direct deposit or even if you get a check delivered using FEDX or if you had the funds transferred
via Western Union ect...

This will explain it better.
https://en.bitcoin.it/wiki/Transaction_fees
FlickitFlat
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10/31/2013 5:54pm
So what is the story with the first post and those large returns? Where do those figures come from?
Old-Man
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12/18/2013 12:53pm
Seen some pretty elaborate machines for mining,



I should have invested in Asic for 100 times the hashing power the units are in back order
12/18/2013 1:06pm
Wish I could've invested in a few when I had the opportunity. There's another one coming up called Litecoin now. Might be worth keeping an eye on.
Old-Man
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12/19/2013 9:44am
So if you would have bought a Bitcoin last night at 460 before you went to bed it is worth 665.00 now.
in 12 hours you could have made 205.00
Orange724
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12/19/2013 1:06pm
I'm pretty resistant to technology, so these "bitcoins" sound like a load of crap.

Sounds like the dot com bubble all over again.
Falcon
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12/19/2013 5:12pm
I read a headline yesterday that stated, "China outlaws Bitcoin; value plummets."

Stuff like that is bound to happen
Old-Man
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12/19/2013 9:23pm
Falcon wrote:
I read a headline yesterday that stated, "China outlaws Bitcoin; value plummets."

Stuff like that is bound to happen
Love that shit, makes the skidish sell and the market drop. and sure enough what happened? went right back up.

Need 60 minutes or Oflunky to make a statement
Old-Man
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12/20/2013 10:51am
Build a shack just for mining with solar panels, Colorado would be ideal for this Over 300 days a year of sunshine

Old-Man
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12/20/2013 11:25am
Hell ya! Use Mother nature to make you money....Free Power,

well, free power after the initial expense is paid for
the_wood109
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12/20/2013 8:41pm
Bitcoin is in a constant state of bubble, since it isn't very useful at the moment.

It really isn't designed to be an investment like it is, it's designed to be a currency. For that to really happen it needs some stability. Lots of people are crying because there is no central bank..if I remember the United States did just fine without one until wealthy bankers created a panic.

The great part from it being p2p is that it can't ever go away...it might not be worth anything at the most, but it's still there.

Of course technology is potentially already supportive of the possibilities...for example the rapid market shifts could be compensated for by ting in payments.

However it still doesn't make up for the security risks that banks can offer.

I personally support this type of model and a 2nd currency...as an experiment. If humans really want to progress we need a global society, not nationalistic.

The current global economy is a joke, it's nowhere near what we would need to really progress.


the_wood109
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12/20/2013 8:58pm
With that said, Bitcoin is passed the point of investing (IMO.) It's not even profitable to mine bitcoins because of the custom hardware. The next hurdle is for them to be worth something besides making a quick buck ....China has already banned bitcoins in every form. IF the the United States was thinking outside the box, this might be a way to remove their currency shit that they do, or at least undermine it with bitcoins. The US government had a hearing on bitcoins and didn't take any particular stance on them (for now.)

The "market" is controlled by high end miners and pool owners at the moment....to some extent this will always be the case, considering there is only the potential for 21 million coins and 12 million have already been mined. So, about half of the bitcoin wealth is already owned.

There are things called "altcoins." LItecoin and feathercoin. There are more of these types and they are mined with high end graphics cards. I mine feathercoin more as a hobby, since i haven't invested anything into them. I suggest the same to most people. Don't invest in bitcoin and mining hardware.

If it starts to get adopted as a currency, go lite, there are no refunds or anything like with banks. This is the main reason why corporations are considering accepting bitcoins.

You have to basically barter which coins you have with other people. Some of them are very smart and skilled at ripping people off. If you go to and exchange, for example, sure the coin might be worth 500-1400 at any given time. but they don't mention the hassle you will go through to ensure a proper exchange for USD.
the_wood109
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12/20/2013 9:05pm
Even with the "central bank" I loved the news stories about the government even considering minting some trillion dollar coin. The whole idea shows how worthless government and government currency is.
Old-Man
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12/21/2013 12:27am Edited Date/Time 12/21/2013 12:33am
"There are things called "altcoins." LItecoin and feathercoin."

Add about 14 more cyber coins to your statement and you'll get a feel of where and what the folks are trying to push where the exchange is headed,

As I said: the economy is begging for a world wide nutural exchange and bitcoins at the moment rules.

I would bet in the near Century that we adopt a new currency that is across the board.
Old-Man
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12/21/2013 12:31am
Even with the "central bank" I loved the news stories about the government even considering minting some trillion dollar coin. The whole idea shows how worthless...
Even with the "central bank" I loved the news stories about the government even considering minting some trillion dollar coin. The whole idea shows how worthless government and government currency is.
Yuppers I agree


Proven anything the Government has a hand in fails with time.
the_wood109
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12/21/2013 2:16am
Again, you won't be able to mine at all unless it's a coin based on the scrypt algorithm. Bitcoin is out....even if you bought all of the hardware, the profits come from early adopting. Do the math...there is no way you can make money at bitcoin mining at this time. ASIC hardware makes it non profitable.

Litecoin and feathercoin (among others) are farmed using the Scrypt algorithm. This algorithm is best used with AMD video cards.
Old-Man
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1/22/2014 6:22pm
Another business opted today to except Bitcoin as a means of payment here in Colorado Springs. Added a graph to show the climb in businesses that are doing the same. Would never think for a second that merchants would except a Cyber coin for payment but it's coming to Fruition more and more. Is this a glimpse of the future? a means of payment not regulated by the Government?.....Well, not yet anyway. Still waiting for Uncle Sam to say something.


Could not find a graph that included August 13'to present but you get the idea
zippy895
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1/28/2014 5:15pm Edited Date/Time 1/28/2014 5:16pm
bitcoin explained

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