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Old April 12th, 2013, 03:10 PM   #101
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http://finance.yahoo.com/news/big-in...191114595.html

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Old April 13th, 2013, 06:12 AM   #102
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So, did you lose your ass today?
Attachment 104339
Well crap.. CC is going to loose GL4x4 in his bankruptcy.
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Old April 13th, 2013, 02:47 PM   #103
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oh snap!

http://smallbusiness.yahoo.com/advis...--finance.html

Quote:
Bitcoin’s Value Drops 80 Percent In 24 Hours



Earlier this week, digital global currency Bitcoin saw its value nosedive by 80 percent in trading. In less than eight months, the virtual cash had skyrocketed from $30 to as much as $266 in value, yielding enormous short-term profits for traders, early investors, and hedge funds. However, Bitcoin’s value dropped to just $55 by Thursday, which wiped out much of the capital gains for bullish holders and late arriving speculators.

Bitcoin is a form of electronic cash which can be used to transfer funds anywhere in the world so long as the individual or business uses an electronic device with access to the Internet. Cash transfers are typically completed in one hour, and these are not subject to expensive fees because Bitcoin is not created by, or beholden to, any financial institution, central bank, or government.

Thus, consumers and businesses have the ability to settle accounts (or wire funds) so long as the recipient is able to go online and receive the “virtual cash”. Because it circumvents the banking system and government authorities, Bitcoin enables the parties involved to escape taxes and any hurdles designed to prevent money laundering (such as stringent identity verification).

Its usage also increased when retailers began to embrace the concept of virtual cash to improve transnational business. Additionally, drug traffickers and money launderers began to millions of dollars through virtual Bitcoin exchanges. Since late 2012, hedge funds and traders began buying up the virtual currency in massive amounts. Many saw no risk of devaluation since Bitcoin is insulated from inflation (operators add small amounts of the currency over time).


Bitcoins Value Drops 80 Percent In 24 HoursCredit: Commons/Wikimedia
Earlier this year, its value saw a significant boost due to turmoil in Cyprus when depositors flooded ATM machines to withdraw cash. The panic occurred after the European Union proposed a multi-billion dollar bailout contingent on an across-the-board tax on bank deposits. The heightened usage of Bitcoin, in addition to financial unrest in Europe, resulted in skyrocketing prices per unit, and reflected the promise that currency could reach a scale similar to global payment company PayPal or MoneyBookers.

However, some conservative investors, including Tom Dyson, remained skeptical especially after Bitcoin surged from $190 to $266 in less than a week. It appeared that the currency’s price was becoming increasingly overvalued as a result of hoarding by speculators and short-term traders. A few saw signs of a massive bubble ready to burst, and some grew weary when the U.S. Treasury announced in March it would explore new laws to regulate Bitcoin.

What’s in store for Bitcoin in the future? It appears governments around the world are ready to step in.
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Old April 13th, 2013, 03:02 PM   #104
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However, some conservative investors, including Tom Dyson, remained skeptical especially after Bitcoin surged from $190 to $266 in less than a week. It appeared that the currency’s price was becoming increasingly overvalued as a result of hoarding by speculators and short-term traders. A few saw signs of a massive bubble ready to burst, and some grew weary when the U.S. Treasury announced in March it would explore new laws to regulate Bitcoin.

What’s in store for Bitcoin in the future? It appears governments around the world are ready to step in.
Told ya so.

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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 May 4th, 2013, 09:50 AM   #105
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Bitcoin mining?
Guy explains bitcoin
http://m.youtube.com/watch?feature=fvwrel&v=YeXWis-lrik
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Old June 3rd, 2013, 07:29 AM   #106
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Criminals using Bitcoin? ATM theft may be connected?

http://www.cnbc.com/id/100774151?__s...od&par=xfinity
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Old July 31st, 2013, 08:26 PM   #107
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Thailand, which allows most every form of depraved human behavior, becomes the first nation to outright ban bitcoin.

https://bitcoin.co.th/trading-suspen...t/?bettertitle
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Old August 13th, 2013, 07:40 AM   #108
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So what do I do with all these bitcoins I have now?
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Old August 13th, 2013, 07:43 AM   #109
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So what do I do with all these bitcoins I have now?
Buy stuff?

Not sure if anybody else is still playing the BTC market, but prices have stabilized, and more sites are starting to use the currency because of this. I truly believe that a digital currency will become the wave of the future, but I am not 100% certain it is BTC. I'm still gambling, and I'm sitting on BTC, I think it will start a trend upward once it becomes adopted by more websites.

To be honest, I thought BTC was over when the feds busted and cracked the TOR network with that javascript hack last week. Surprisingly BTC weathered that storm.
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Old October 23rd, 2013, 01:32 PM   #110
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fail

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Well crap.. CC is going to loose GL4x4 in his bankruptcy.
with bitcoins at $220 today, I can cancel my BK filing.

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Buy low, sell high. Keep your panic selling to yourself

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So what do I do with all these bitcoins I have now?
retire?
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Old October 23rd, 2013, 02:08 PM   #111
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So what do I do with all these bitcoins I have now?
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retire?
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Old November 7th, 2013, 06:38 AM   #112
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Bitcoins are pushing $300..

I've jumped pretty heavily into Bitcoin's little brother, LiteCoin (LTC) snagged up a ton at $1.40. They are currently trading at $4.10

If you need help or are confused about how to acquire either of these, let me know, and I can help you out.

I've been using BTC to purchase stuff online, to pay programmers, and to hold as an investment. When it catches on main stream, it's going to be an incredible way to do business.


China is starting to go crazy with BTC and LTC. They have introduced BTC debit cards, and they are now using BTC vending machines.

3 month chart:
http://bitcoincharts.com/charts/mtgo...zm1g10zm2g25zv
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Old November 7th, 2013, 06:40 AM   #113
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I still don't quite understand this. BTC is like a stock market, no?
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Old November 7th, 2013, 06:43 AM   #114
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I still don't quite understand this. BTC is like a stock market, no?
Think of it more as a currency. But it is a currency you can print out at your house once you own the rights to x amount of BTC or LTC.

If I have 50 shares of Ford, I can't really easily trade it to you for a product you are selling. But with BTC, I simply transfer it from my wallet to your wallet. No taxes, totally anonymous.
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Old November 7th, 2013, 06:46 AM   #115
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So can you just sell them for real money?
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Old November 7th, 2013, 06:51 AM   #116
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Quote:
Originally Posted by clarkstoncracker View Post
Think of it more as a currency. But it is a currency you can print out at your house once you own the rights to x amount of BTC or LTC.

If I have 50 shares of Ford, I can't really easily trade it to you for a product you are selling. But with BTC, I simply transfer it from my wallet to your wallet. No taxes, totally anonymous.
Okay that makes a little more sense. What causes the value of the BTC or LTC market to fluctuate?

Are "Bitcoins" what you pay with? Do you buy these bitcoins for X amount of $, then the market increases, so then say your previous investment of $10 is now up to $20. Then you can use that and buy, say anything?

I'm looking on the Bitcoin website to help further my knowledge of this, so don't think I am feeding off of you for information
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Old November 7th, 2013, 06:55 AM   #117
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So can you just sell them for real money?
Sure. You can sell them on craigslist, ebay, trade the BTC for goods, or if you want to cash out right to your bank account, you simply go to one of the exchanges and they act just like the nasdaq.

I use MtGox to trade BTC, and I use BTC-e for LTC trading.

BTC: https://www.mtgox.com/
LTC: https://btc-e.com/exchange/ltc_usd


For the stock traders out there, LTC and BTC have been rising on a ridiculous amounts of volume. Stocks that have been trending flat for a long duration on low volume then surge on high volume usually indicate the beginning of a large up swing.


Of course this is not always true, and they could crash to be worthless in a week....

So if you have $20 available and are interested in jumping into something that is fun to use, snag up some LTC...
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Old November 7th, 2013, 06:55 AM   #118
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So it's digital currency that you use to buy, say my products, but big brother is not included so you don't pay any taxes on said product?
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Old November 7th, 2013, 07:01 AM   #119
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Originally Posted by 8PTBUCK View Post
Okay that makes a little more sense. What causes the value of the BTC or LTC market to fluctuate?

Are "Bitcoins" what you pay with? Do you buy these bitcoins for X amount of $, then the market increases, so then say your previous investment of $10 is now up to $20. Then you can use that and buy, say anything?

I'm looking on the Bitcoin website to help further my knowledge of this, so don't think I am feeding off of you for information

The value goes up and down based on demand, just like a stock. However, there is a odd system in place where people can make BTC or LTC for free using computers to solve equations. This is designed that way because you are using electricity and hardware to create the items, so they have a cost of the difficulty of the block vs the electricity to mine the block. Back in the day you could mine BTC easily, making many coins a day. now you need a huge amount of computers to make one coin.

You pay with bitcoins, and the problem with BTC has been the volatility in the market. People were scared to accept it, because on Monday BTC was worth $80, on tuesday it was worth $140, on wednesday it was worth $90.. So it was a huge gamble on the seller to accept it, unless they had the means to dump it immediately. Now that the market has stabilized, more and more companies are starting to accept bitcoins. I kind of fucked up last week and I bought some silver from http://www.amagimetals.com/ with BTC. Since then the price of silver has dropped and BTC soared. Don't tell leanz.
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Old November 7th, 2013, 07:07 AM   #120
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Seems kinda sketchy. I like it.

So with my initial investment of $20 USD, what does that equal into bitcoins?

From my view, it's like a new way of investing money, but also having the ability to buy/trade/sell goods at the same time.

The only problem I see, like you said, is the volatility of the market. I guess with the market starting to stabilize, it might be a good time to jump in on it.

I'm thinking of trying it out with $20 like you said previously. My best bet would be LTC, not BTC? Is it because LTC is for budget ballers?
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