All about Bitcoin! Ask your questions here...been investing and researching for over a year.

[HarryCaray]

Bitcoin will never be anything more than a fad and an investment. It's not even logical to imagine it having any impact on the dollar whatsoever. We probably are more worried about counterfeit dollars than bitcoins.

The fact that you hold the position you do makes me feel so much safer in my holdings.

Thanks!

 

[FrankieCarbone]

Check out this bitcoin luxury marketplace: https://www.bitpremier.com

 

[quantumleap]

It's that kind of gibberish that leads to heavy losses. Bitcoin isnt backed by any government, it has no utility in and of itself and is,....not real. Its value is pure speculation, the "greater fool theory" or musical chairs in action,....

those of us old enough to remember the Villalobos brothers in CR and their 3 percent monthly interest rate have seen this all before.....

You use simple labeling as a way of trying to make your point. Calling my points "gibberish" in an attempt to discredit it. This is not a valid way to make a point.

You also mention it has no utility. The utility it has is to transfer funds and it does so more cheaply than other means of transferring funds. Therein lies its value.

That software that enables you to communicate with the internet is backed by nothing yet it has a utility. You may say it's backed by a company but the company by itself isn't worth what people are willing to pay for its stock. It's worth the utility that the company provides and that is to communicate with the Internet.

 

[akphidelt]

The fact that you hold the position you do makes me feel so much safer in my holdings.

Thanks!

You definitely come off like a person that would invest in Bitcoins.

 

[aclv1]

Bill Gates, The CEO of ******, the Director of Ideas for Google, the people at Chase that tried to patent a similar system. That list is long and growing and populated by tech minds and payment systems people. There's something here in terms of an innovation, no question about that. On that level, I don't give a shit if someone thinks it's a great store of value or not or whether it actually is or not. It will grow based on that innovative driver and, just like all things, as people get used to the idea.

 

[quantumleap]

They're the 21st century version of tulips!!

I would have agreed with you back in 2011 when the price went from something like $2 to $30 and then down to $8. However, it now has a wider acceptance for the thing I feel makes it valuable. That is as a cheaper money transfer tool.

 

[akphidelt]

How is that any different from a company that sells overseas in different currencies? Does Ford sells cars in China? Do the Chinese buy cars with USD only? Does Ford pay taxes on cars sold in other currencies?

Ford sells cars to dealers in China for USD, the dealers sell the cars for whatever currency their government says they have to. Bitcoin can be an intermediary but that's really all it will be. Pretty useless for anything other than black market goods or a potential investment.

 

[aclv1]

Bitcoin has outperformed Berkshire Hathaway. Warren Buffett bought BRK at $8 in 1962 by 2013 it peaked at $178,900, an increase of 2,236,250%. Bitcoin went from $0.01 to $1243, a 12,430,000% move in 4 years.

 

[quantumleap]

If bitcoin was $50 a share, I would buy 100 shares & ride it out for the next 5 years to see if it would make money but at $621, I see no value in it as an investment because of the risk vs reward......at $50, I would take a shot.

I missed the body last year, then again, I didn't really understand it much as I thought it was only used for the black market.

If you would buy 100 bc's at $50 each why wouldn't you buy 8 bc's at $620 each? Both investments are roughly equivalent to $5000. Do you think that at $50 each it will increase percentage-wise more than at $621 each?

 

[TheComputerGroup]

The idea & innovation of bitcoin is great IMO.......what we need is a secure backing & peace of mind for people using bitcoins & storing bitcoins in their accounts.

Once all the kinks get ironed out, it will have the ability to open doors for all kinds of things.

Like I said, the idea of electronic banking in bitcoins is nice, but will it prevail?

I like the idea of selling a product on a site like eBay & not paying them 13% in fees just for selling a product for me & transferring money to my account.

 

[CHOPTALK]

its going to be the currency in the RFID chips

lol. No chance

 

[CHOPTALK]

If more companies start adopting bitcoin, along with regular people...the price will stabilize and then businesses just might start using bitcoin amongst themselves instead of converting to USD. It just needs to get enough market penetration to attain price stability and look out below. Not saying it will happen in the next 6-12 months, but could happen possibly in a few years.

Bc will never hit the price stability you're talking about. It's not designed that way.

 

[aclv1]

lol. No chance

line from Titanic

 

[TheComputerGroup]

Bitcoin has outperformed Berkshire Hathaway. Warren Buffett bought BRK at $8 in 1962 by 2013 it peaked at $178,900, an increase of 2,236,250%. Bitcoin went from $0.01 to $1243, a 12,430,000% move in 4 years.

Those are both sick numbers but from 1 penny yo $1,243 in 4 years is insane!

 

[CHOPTALK]

If bitcoin was $50 a share, I would buy 100 shares & ride it out for the next 5 years to see if it would make money but at $621, I see no value in it as an investment because of the risk vs reward......at $50, I would take a shot.

I missed the body last year, then again, I didn't really understand it much as I thought it was only used for the black market.

You can buy fractional bc's

 

[HarryCaray]

You definitely come off like a person that would invest in Bitcoins.

Thanks!
You definitely come off like a person that would think it was dumb without having the slightest clue what the fuck he was talking about. You didn't disappoint.

 

[akphidelt]

Thanks!
You definitely come off like a person that would think it was dumb without having the slightest clue what the fuck he was talking about. You didn't disappoint.

You've really made some substantive points about bitcoin. You seem really smart.

 

[TheComputerGroup]

Is there any possibility of the federal reserve acquiring & backing these bitcoins?

 

[akphidelt]

Is there any possibility of the federal reserve acquiring & backing these bitcoins?

Not a chance.

 

[EverFresh]

You use simple labeling as a way of trying to make your point. Calling my points "gibberish" in an attempt to discredit it. This is not a valid way to make a point.

You also mention it has no utility. The utility it has is to transfer funds and it does so more cheaply than other means of transferring funds. Therein lies its value.

That software that enables you to communicate with the internet is backed by nothing yet it has a utility. You may say it's backed by a company but the company by itself isn't worth what people are willing to pay for its stock. It's worth the utility that the company provides and that is to communicate with the Internet.

More gibberish...there are lots of schemes on the internet that "transfer funds"....Liberty Reserve comes to mind..

have a gander: http://www.reuters.com/article/2013/08/09/net-us-cybercrime-digital-currency-idUSBRE9780GM20130809