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Bitcoin market... Don't miss out

82K views 670 replies 97 participants last post by  Jrgunn5150 
#1 · (Edited)
http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zv


So far, it's been pretty f'n profitable for all. $62/coin. I'm thinking everybody should dive in deep as hell right now...


Not sure if it's too late to jump on board, or if it's just the beginning of countless millionaires who got in at ground level...
 
#45 ·
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.
 
#49 ·
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...ange-society-much-more-than-the-internet-did/
 
#54 ·
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.
 
#104 ·
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.

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.
 
#60 ·
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
 
#70 ·
What market do you use? I was going to sign up at mtgox.com, but it requires so much personal information just to verify your account, and I don't like the idea of scanning my passport/driver's license and putting it on the internet.

Can you buy less than one coin? In other words, can I invest $50 in bitcoins?
 
#92 ·
Yup, masturbating over imaginary money and looks like everyone just 'shot their wad'.


A long time ago, a family friend that did rather well in the market told me that you can't think of profits and losses in the market as ''real money" unless you cash out of the investment. All you are doing in reality until then is moving numbers around on paper.
 
#110 ·
#103 ·
oh snap!

http://smallbusiness.yahoo.com/advi...s-80-percent-24-hours-114255982--finance.html

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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