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Old April 3rd, 2013, 11:11 AM   #41
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Fuck this. I'm not doing it.

I'm sure I'm going to regret it but I just can't do it.

I'm out.
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Old April 3rd, 2013, 11:12 AM   #42
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Which program/website are you using for your transactions?
x2 I need to buy some as well.
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Old April 3rd, 2013, 11:20 AM   #43
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x2 I need to buy some as well.
I downloaded Bitcoin wallet on my phone and then set up an account with mtgox.

Five minutes later I deleted my Bitcoin wallet and ran away screaming before I did any damage to myself.

http://blockchain.info/ <--Watch that live feed of transactions. Fucking unbelievable how much money is pumping through this market and how fast.

I just saw a transaction for over $367,000 USD.
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Last edited by SS; April 3rd, 2013 at 11:37 AM.
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Old April 3rd, 2013, 12:40 PM   #44
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Dammit. I want in but as soon as I do its gonna crash. Ill save everyone the losses.
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Old April 3rd, 2013, 12:56 PM   #45
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I can't wrap my head around how/why someone would want to trade goods/services for a currency that fluctuates so much. If you make a deal one day, and don't send the funds until the next, the value of the bitcoins could have fluctuated so greatly that you'd want to re-negotiate a price.
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Old April 3rd, 2013, 01:25 PM   #46
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who pays the taxes?
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Old April 3rd, 2013, 05:47 PM   #47
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Fuck this. I'm not doing it.

I'm sure I'm going to regret it but I just can't do it.

I'm out.
I'm too much of a chicken shit too. That there is the reason I will not ever be a millionaire. Even my 401k is far too conservative.
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Old April 3rd, 2013, 08:31 PM   #48
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I am giving less of a fuk about this every day.



I predict this will go the way of Pokemon cards.
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Old April 4th, 2013, 08:01 AM   #49
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I am giving less of a fuk about this every day.



I predict this will go the way of Pokemon cards.
I'm thinking the exact opposite.

I bet a decentralized currency will be the norm in ten years. Once people realize you can cut the bank out of the whole process, the actual cost of goods drops without inflation which is amazing. Eventually bitcoin will settle down and stay at or around $X.XX. Right now people are afraid to accept it because if they're paid the equivalent of $10,000 in bitcoins for a product, it might be worth $20,000 or $5,000 tomorrow. I believe when it settles down, it will quickly replace paypal.


Here's good article to read:
http://falkvinge.net/2013/04/03/why-...-internet-did/
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Old April 4th, 2013, 08:03 AM   #50
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Originally Posted by clarkstoncracker View Post
I'm thinking the exact opposite.

I bet a decentralized currency will be the norm in ten years.

Here's good article to read:
http://falkvinge.net/2013/04/03/why-...-internet-did/
There was a barter system in place 20 years ago that my boss at the time was involved in. Wonder how it is today, I think there is a place for it but wont replace money or gold for a long time if ever. I am sure it will work for the people who know how to work it.
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Old April 4th, 2013, 08:11 AM   #51
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There was a barter system in place 20 years ago that my boss at the time was involved in. Wonder how it is today, I think there is a place for it but wont replace money or gold for a long time if ever. I am sure it will work for the people who know how to work it.
metro trade?


Comparing a service to service bartering system and a worldwide currency that is not government backed is comparing apples to oranges.
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Old April 4th, 2013, 08:35 AM   #52
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Quote:
Originally Posted by clarkstoncracker View Post
I'm thinking the exact opposite.

I bet a decentralized currency will be the norm in ten years. Once people realize you can cut the bank out of the whole process, the actual cost of goods drops without inflation which is amazing. Eventually bitcoin will settle down and stay at or around $X.XX. Right now people are afraid to accept it because if they're paid the equivalent of $10,000 in bitcoins for a product, it might be worth $20,000 or $5,000 tomorrow. I believe when it settles down, it will quickly replace paypal.


Here's good article to read:
http://falkvinge.net/2013/04/03/why-...-internet-did/
I see what you mean, but remember- 'Banks are too big to fail'.

Banks have tremendous political influence, I don't see them being cut out of the picture that easily. Bitcoins may be legislated out of existence- in effect declaring them to be counterfeit currency.
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Old April 4th, 2013, 08:44 AM   #53
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I see what you mean, but remember- 'Banks are too big to fail'.

Banks have tremendous political influence, I don't see them being cut out of the picture that easily. Bitcoins may be legislated out of existence- in effect declaring them to be counterfeit currency.
Yes, and that would destroy the bitcoin.

But can the government actually ban a currency? Who knows.
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Old April 4th, 2013, 08:50 AM   #54
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It appears that the bitcoin originated as a marker for a barter system, much like most currencies.

Problem is the 'nontaxable' part of it. You can bet that if the government cannot figure out a way to get their cut, they will work to shut it down.
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Old April 4th, 2013, 08:51 AM   #55
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Yes, and that would destroy the bitcoin.

But can the government actually ban a currency? Who knows.
Especially one that exists only on the internet?

For them to completely ban the use of the Bitcoin wouldn't they have to pass all sorts of legislation that would, in effect, regulate the internet?
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Old April 4th, 2013, 08:55 AM   #56
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Especially one that exists only on the internet?

For them to completely ban the use of the Bitcoin wouldn't they have to pass all sorts of legislation that would, in effect, regulate the internet?
As long as it stays an 'internet currency, no.

But the 'physical bitcoins' are what could be legislated.

Right now, it's being fueled by speculation. IF (big if there) I were to get involved in the frenzy, it would be a 'get in, get out quick' before the stabilization occurs.

We may be looking at a possible way to create a worldwide currency.

And that would be bad for banking.
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Old April 4th, 2013, 12:31 PM   #57
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Took a big hit overnight/this morning
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Old April 4th, 2013, 01:46 PM   #58
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Took a big hit overnight/this morning
It's so volitale I wouldn't be able to check it that often, just to keep from going crazy. There have been much bigger drops within a day.
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Old April 4th, 2013, 05:25 PM   #59
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Took a big hit overnight/this morning
for once I am glad my 2 year old turned off my computer. I was at the website about to buy some when he killed my comp, said fukc it and went to bed
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Old April 6th, 2013, 11:25 AM   #60
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Filled out the forms but was unable to purchase coins. Maybe had something to do with the hack a couple of days ago, I don't know.
I thought it was more of a financial trading system. I have no use for an anonymous trading system to buy hookers, blow or weed.
I'll stick to high risk options trading, seems less volatile. lol
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