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Bitcoin value crosses $1000 USD
Posted: Wed Nov 27, 2013 8:56 am
by DSUrocks07
Hey spanos, I've been on pins and needles waiting on a thread about bitcoin for the last few years. Nary a mention.
http://data.cnbc.com/quotes/MTGOXUSD
Even when the feds shut down The Silk Road in October, that seems to be the kind of thing you would be all over.
Slacker.
Re: Bitcoin value crosses $1000 USD
Posted: Wed Nov 27, 2013 3:10 pm
by expandspanos
DSUrocks07 wrote:Hey spanos, I've been on pins and needles waiting on a thread about bitcoin for the last few years. Nary a mention.
Slacker.
Hey DSU.. you wouldn't be a Daily Paul reader by any chance would ya?
Regarding Bitcoin- it appears it's being set up as the "new global digital currency" that everyone has been afraid of, but is now embracing.
Not sure it's a good time to buy right now, as it seems high, but wouldn't be surprised to see it continue to rise. I don't like the "your transactions are tracked" aspect, it seems they're trying to get people away from gold and silver by creating a digital,
digitally traceable currency backed by gold/silver.
[youtube]
http://www.youtube.com/watch?v=G314jRumV_8[/youtube]
Re: Bitcoin value crosses $1000 USD
Posted: Wed Nov 27, 2013 3:29 pm
by Ibanez
Who the hell is buying this shit?
Sent from my iPhone
Re: Bitcoin value crosses $1000 USD
Posted: Thu Dec 19, 2013 1:35 am
by Skjellyfetti
Wow. I am so surprised.
Bitcoin plummets as China's largest exchange blocks new deposits
Digital cryptocurrency has lost almost 50% of its value overnight after BTC China said it could no longer accept deposits in the Chinese currency
The price of bitcoin has plummeted following an announcement from China's largest bitcoin exchange that it would no longer be accepting new yuan deposits.
BTC China said that due to action by a third-party payment provider, YeePay, it could no longer accept deposits in the Chinese currency, although it would still be able to process withdrawals. BTC's chief executive, Bobby Lee, said that YeePay gave notice on Wednesday morning Shanghai time that it would no longer provide services.
Lee blamed government regulation for the decision. China's central bank warned in early December that bitcoin was not legally protected and had no "real meaning", and barred financial institutions from using the currency.
http://www.theguardian.com/technology/2 ... tocurrency" onclick="window.open(this.href);return false;
Re: Bitcoin value crosses $1000 USD
Posted: Thu Dec 19, 2013 8:55 am
by ALPHAGRIZ1
Ibanez wrote:Who the hell is buying this shit?
Sent from my iPhone
Me
Re: Bitcoin value crosses $1000 USD
Posted: Thu Dec 19, 2013 9:20 am
by 93henfan
From what I understand, it's easier to get into Bitcoins than to get out of them.
And then, as KYJ posted, there's the issue of states giving it the middle finger.
Re: Bitcoin value crosses $1000 USD
Posted: Wed Nov 29, 2017 7:07 am
by CAA Flagship
$11,000.00
Re: Bitcoin value crosses $1000 USD
Posted: Wed Nov 29, 2017 8:27 am
by GannonFan
I don't even know what it means that it's crossed the $11,000 threshold. I feel old. Are people still playing Atari or is that changed now too?
Re: Bitcoin value crosses $1000 USD
Posted: Wed Nov 29, 2017 8:57 am
by 93henfan
GannonFan wrote:I don't even know what it means that it's crossed the $11,000 threshold. I feel old. Are people still playing Atari or is that changed now too?
I still own a functioning Atari (later dubbed the 2600), but I also own an XBox One.
I prefer the Atari, because my ten year old can kick my ass in everything on the Xbox. Dad can destroy him on Jungle Hunt and Missile Command on the 2600.
Re: Bitcoin value crosses $1000 USD
Posted: Wed Nov 29, 2017 9:36 am
by GannonFan
93henfan wrote:GannonFan wrote:I don't even know what it means that it's crossed the $11,000 threshold. I feel old. Are people still playing Atari or is that changed now too?
I still own a functioning Atari (later dubbed the 2600), but I also own an XBox One.
I prefer the Atari, because my ten year old can kick my ass in everything on the Xbox. Dad can destroy him on Jungle Hunt and Missile Command on the 2600.
Heck, my Atari 2600 is so old it's branded as a Sears Teleplay, and I still have the original Pong and Target Fun that came with the system. And yes, my kids destroy me on anything on the Xbox One we have - it's embarrassing.
Re: Bitcoin value crosses $1000 USD
Posted: Wed Nov 29, 2017 1:00 pm
by CAA Flagship
CAA Flagship wrote:$11,000.00
Now at $9350
Re: Bitcoin value crosses $1000 USD
Posted: Wed Nov 29, 2017 1:27 pm
by Chizzang
Crypto Currencies are tricky to use... Easy to purchase / difficult to use
Unless you're using them to trade towards Swiss Francs and then back to dollars
but that is now being tracked too
The Russians ruin everything...
Re: Bitcoin value crosses $1000 USD
Posted: Wed Nov 29, 2017 4:57 pm
by CID1990
Can I eat bitcoins? That's what will matter when Skynet becomes aware.
Sent from my iPhone using Tapatalk
Re: Bitcoin value crosses $1000 USD
Posted: Wed Nov 29, 2017 5:17 pm
by Chizzang
CID1990 wrote:Can I eat bitcoins? That's what will matter when Skynet becomes aware.
Yes,
Bitcoins are edible
in much the same way that existentialism is edible
Re: Bitcoin value crosses $1000 USD
Posted: Wed Nov 29, 2017 5:48 pm
by CID1990
Chizzang wrote:CID1990 wrote:Can I eat bitcoins? That's what will matter when Skynet becomes aware.
Yes,
Bitcoins are edible
in much the same way that existentialism is edible
Or (according to Chairman Mao) socialism
Sent from my iPhone using Tapatalk
Re: Bitcoin value crosses $1000 USD
Posted: Thu Nov 30, 2017 7:00 am
by 93henfan
Extreme volatility (possible pump and dump) yesterday.
Bitcoin dropped from $11,350 to $9,300 (-18%) in just a few minutes.
Re: Bitcoin value crosses $1000 USD
Posted: Thu Dec 07, 2017 9:18 am
by CAA Flagship
$17,000
Re: Bitcoin value crosses $1000 USD
Posted: Thu Dec 07, 2017 9:20 am
by 93henfan
ALPHAGRIZ1 wrote:Ibanez wrote:Who the hell is buying this shit?
Sent from my iPhone
Me
Do Butte attorneys accept bitcoin?
Re: Bitcoin value crosses $1000 USD
Posted: Thu Dec 07, 2017 9:23 am
by clenz
I'll admit to not following cryptocurrency at all.
Is bitcoin actually a "real" thing people use or did someone just create something and go "Buy this from me it's worth more than you pay for it" and a bunch of suckers caught on and it's avalanched into this?
I get I'm naive on the cryptocurrency, I just don't understand how something that isn't real is tradeable.
Re: Bitcoin value crosses $1000 USD
Posted: Thu Dec 07, 2017 9:27 am
by 93henfan
clenz wrote:I just don't understand how something that isn't real is tradeable.
It’s like every other non gold-backed currency on the planet. It’s backed by the full faith and credit of the issuer. Any issuer can default. Obviously, some issuers are more solid than others.
Actually, scratch that. I just did some reading. Bitcoin is peer to peer. You’re essentially trusting unemployed millenials in momma’s basement. And the market. There is no single issuer.
Re: Bitcoin value crosses $1000 USD
Posted: Thu Dec 07, 2017 9:33 am
by ALPHAGRIZ1
93henfan wrote:ALPHAGRIZ1 wrote:
Me
Do Butte attorneys accept bitcoin?
No idea, my attorney is from South Dakota
Re: Bitcoin value crosses $1000 USD
Posted: Thu Dec 07, 2017 9:40 am
by clenz
93henfan wrote:clenz wrote:I just don't understand how something that isn't real is tradeable.
It’s like every other non gold-backed currency on the planet. It’s backed by the full faith and credit of the issuer. Any issuer can default. Obviously, some issuers are more solid than others.
Actually, scratch that. I just did some reading. Bitcoin is peer to peer. You’re essentially trusting unemployed millenials in momma’s basement. And the market. There is no single issuer.
So the reality is a boit coin is actually worth as much as the points on Whose Line Is It Anyway??
It's all made up and doesn't really matter. People are just trading money back and forth with each other at higher prices than the last until someone finally goes "I have the money so now it's time to fuck everyone else?
Re: Bitcoin value crosses $1000 USD
Posted: Thu Dec 07, 2017 9:43 am
by 93henfan
What would scare me most about Bitcoin is liquidity. I’ve heard it can be difficult to buy and sell. So yeah, if it tanks for good and you didn’t get out fast enough, you’re fucked.
Re: Bitcoin value crosses $1000 USD
Posted: Thu Dec 07, 2017 9:53 am
by Ibanez
clenz wrote:I'll admit to not following cryptocurrency at all.
Is bitcoin actually a "real" thing people use or did someone just create something and go "Buy this from me it's worth more than you pay for it" and a bunch of suckers caught on and it's avalanched into this?
I get I'm naive on the cryptocurrency, I just don't understand how something that isn't real is tradeable.
Re: Bitcoin value crosses $1000 USD
Posted: Thu Dec 07, 2017 10:00 am
by ∞∞∞
It's like any other fiat currency, including the dollar. It's value is based on a mix of supply, demand, and the belief in the currency.
Bitcoins aren't easy to make as there's an entire puzzle behind every one (supply), and the demand is high (which boosts that exchange value), and there's an entire network of people that believe in it.
You can't think of Bitcoins as a commodity to sell, trade, or buy. It acts like any other currency, which is why it's exchanged between the Dollar, Euro, Yen, etc.