Has anyone looked at this? At first I blew it off as some geeky pretend currency for role playing. That was two years ago.



Two weeks ago it was at $260 and I suggested to my wife we should buy... And didnt. This week it is at $900.



Dammit.

Like so many of these high flyers IMHO it is very risky. But . . . it may just double again. It's a stock one could buy if you are prepared to lose almost everything . . .

Not a stock it's money. Scam

Bernanke didnt mention that it was a scam... I haven't read that and if you weren't so quick to dismiss, you could have tripled your money last week.

I also read it hasn't been made available to Asian markets yet and that is projected to triple demand instantly.



Asians embrace technology

Putting your money into an unregulated equivalent of startreks transporter and beaming it into the ether sounds safe to me.

I know a couple dudes that started mining in the early days before it became too difficult and laborious for the return investment. They no longer mine, but they are pretty loaded now. I won't ask what they made, but I'd venture that it is north of $1MM each.

Another dude in Europe bought 5,000 coins for $27.00 US (2009) and forgot about them. He's now worth $750K.
KA-CHING!

China is buying up as many as they can and are driving the prices through the roof... if you look at graphs, it spiked before, then tanked, then really spiked again (where we are at now), and has gone down in the last couple days....

i wouldnt be suprised if it tanks again, then goes somewhere around 10k per coin, theres some people that think thats infact what may happen...

ive been messing around for a little while with them...

I'm so out of that loop I thought it was a stock. But no matter weather it's tulips, Teslas or Bitcoins, what goes up fast can come down just as fast.

It may well be that Bitcoins were invented to escape the unreasonable ban on internet poker. You will really love this Joad! Gambling with Bitcoins. Seals with Clubs operates solely with Bitcoins. No pesky government interference (although on line Poker would welcome it!) Here is some info on Bitcoins from thier website. Sure wish I would have gotten on there Black Friday.

BITCOIN FAQ

What is Bitcoin?
Bitcoin is an electronic currency & payment system based on an open-source, peer-to-peer internet protocol. There is no centralized issuer; instead individual users volunteer computing power in effect executing and recording the Bitcoin network’s transactions in a decentralized way.
More information can be found at bitcoin.org and blockchain.info.
Why do bitcoins have value?
They have value because people find the Bitcoin protocol to be a useful means of value transfer. Because there is a fixed amount of bitcoin, the value is purely determined by aggregate supply-demand.
So it’s like a currency, but it isn’t backed by a government? That doesn’t
seem right.
Bitcoin begs the question: “Can there exist a currency backed purely by mathematics and computing power instead of a central issuer?”
Government backed fiat currency has long been the norm. It is a system where units of currency can be added or subtracted at the whim of the issuer. Staunch Bitcoin supporters feel it’s no advantage to the health of a currency that a few people have the ability to make arbitrary changes to it. With fiat currencies, the issuing government is charged with protecting all aspects of the currency, including counterfeiting. In the case of Bitcoin, math and computing power replaces government. The anti-counterfeiting duties are done by computer code and have never been defeated. There are many other aspects to consider on the subject of mathematics and computing power currency governance. The Bitcoin project is truly an economic experiment.
Where can I buy and sell bitcoins?
You can buy them from whoever has them and sell them to whoever wants them. There are centralized exchanges as well as decentralized options:
Coinbase.com is a USA-based centralized exchange that allows you to buy or sell bitcoins for a 1% fee using your checking account. Other exchanges include Bitstamp, MtGox, BTCChina, and BTC-E. Please do your own due diligence when choosing a bitcoin exchange.
If you’d rather avoid a fee, you can look on localbitcoins.com for a
buyer or seller to meet with personally.
This seems so complicated. I just want to play poker.
We offer this information for anyone who is interested, but understanding
the science behind Bitcoin is irrelevant to playing on Seals. Once you
have an account balance, it’s normal poker from there. (Normal poker with
low rake and cashouts in less than 12 hours, thanks largely to the
effectiveness of what we’re talking about.)

I was interested but never mind.

Check out Silk Road before you write it off altogether. You might need some drugs or wet work done some day

Silk ROad has been shut down, the creator has also been arrested...

Black Market Reloaded came out, and is still in operation i believe, but i wouldnt even go on those sites unless you are running a proxy and make sure that your identity is hidden...

Forbes did an article and actually bought weed from it, with pictures of product online, and what they recieved...

best advice, stay off it....

I watched the movie Horrible Bosses and wet work is when you have a guy piss on you. On craigslist in males seeking males section.

You read Forbes?

Nate reads google... the forbes article is number 2 behind wiki...


I read playboy for the jokes, penthouse for the articles and pictures...

That I can understand. But Nate reading Forbes is like Big Stick reading Vogue..

whats wrong reading on the internet?

is it in another language?

are books bad too?

should i just will myself to all knowledge of all things?

idiot...

I read Forbes and FAP furiously to it. Does that count?

It's ironic an umployed person who is lazy as you would read the financial magazine. Idiot.

thats what you get for thinking....


idiot...

anyways, back on topic,


Nick, that guy, is worth way more than 750k after that, with prices near 900 dollars, he would have accumulated over 4 million from that...

there was another guy years back, that called a pizza shop, and wanted 2 pizzas, and traded 10k bitcoins i think it was for the 2 pizzas...

thats 9 million dollars now, or close to it....

for 2 large pizzas...

That made zero sense.

neither did your post...

It's ironic an umployed person who is lazy as you would read the financial magazine. Idiot.

first off, its Unemployed, umployed is something the refs did to the Seahawks in the SB, or something wierder.... next would be, "who is AS lazy as you", yours sounds like its from Boyz N The Hood... and "the" financial magazine? i suppose so, but, theres more, so that makes Forbes, A financial magazine....

oh well, im not one to talk...

idiot...

mind your own business Jake...

and purchasing something you are going to smoke, or take, as a recreational drug, without seeing it in person, is about as dumb as you can fvcking get....

good to know the type of people you hang out with... solid work callin me names...

when i was poundin ass last night Jake...

you dont even know sh!t about this topic, yet you feel the need to post on it, and say a bunch of horsesh!t...

and you say i post too much, and post on every topic, and try to do whatever...



(for dinner was 2 slabs of Coho, some green beans, and a Potato, genius)

In before the lock.

congrats on pounding some choice ass nate!

I didn't ruin chit. I just commented before you. If I do ruin threads I appologize.


And nate, correcting typos doesn't make you intelligent. The little bits of knowledge you have are only applied in internet arguments. Amd noone follows your pathetic ass. At least I don't. Show up to any given thread and your stench is present.

Fish, green beens and potato. Elegant.

So apparently bitcoins is the internet equivalent of precious metals, speculation drives the price.

Correct, except unlike precious metals, there is a finite supply of Bitcoins. There are only 12,000,000 in circulation and that is the cap.

I think you did the right thing if you caught the wave but I would have sold just enoughh to recovered my original investment and let the rest continue to ride. I think it will continue to go up. If it does tank or make a major correction, I am jumping in.


I did read this today though- sounds like there are some untrustworthy vendors.


http://www.dailymail.co.uk/news/article-...s-money-it.html

I thought that the number of bitcoins would continue to grow until it reached a cap in the future at 21 million. I've only read about it a few times though.

I was sure thinking about it. I started watching it in December, two days before the big "Chinese" crash. I saw it dip below $500 and quickly rebound over a week or so. I was also watching Litecoin, which dropped to $7.50. Both recovered with Litecoin up to $27 or so . Then both went way down with the failure of Mt Gox. and of course now back up.

I set up an account with Coinbase, which links directly to your checking account. Transactions work through ACH so take a couple days. I might put a few $ in if it drops back to <$500 again. Maybe.

There are a few online Poker sites that are Bitcoin only (ie Seals with Clubs ) ...