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bitcoins..holly crap Transferred $148 Million Worth Of Bitcoin

KipKip Posts: 852
in Precious Metals
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UCSB Electrical Engineering....... USCG and NASA

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  • WhiteTornadoWhiteTornado Posts: 2,102 ✭✭✭
    Hmmm, I get a "page not found" when trying that link.
  • nibannynibanny Posts: 2,761 ✭


    << <i>Hmmm, I get a "page not found" when trying that link. >>



    Need to remove the "[ L=null ]" part at the end of the link.

    Fixed link
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • jmski52jmski52 Posts: 22,869 ✭✭✭✭✭
    One problem I see with Bitcoin is.................what happens if you pay for something and it doesn't get delivered?
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derrybderryb Posts: 36,837 ✭✭✭✭✭
    It was the NSA making a loan to the CIA. image

    Natural forces of supply and demand are the best regulators on earth.

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    Bad link - 'Page not found'...... Cheers, RickO
  • derrybderryb Posts: 36,837 ✭✭✭✭✭
    Reports indicate majority of bitcoins being purchased from China. Maybe they are counterfeiting them.

    Natural forces of supply and demand are the best regulators on earth.

  • jmski52jmski52 Posts: 22,869 ✭✭✭✭✭
    Not regulated in any way, and not subject to self-regulation either (as with physical assets).

    Is there truly any way to know that bitcoin won't be hacked or has been already?

    There's a new data point to consider (from ZeroHedge, link below) that the 100 largest bitcoin holders own about 20% of the available stock. Too much concentrated power for me. Who's to say that any given government can't simply go ahead and issue more fiat, and then jump into bitcoin enough to be able to completely manipulate it (think virtual ETF)?

    Much harder to manipulate real assets without being found out.

    100 largest bitcoin holders
    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • OverdateOverdate Posts: 7,008 ✭✭✭✭✭
    1 Bitcoin = $1200.

    1 oz. gold = $1248.

    My Adolph A. Weinman signature :)

  • derrybderryb Posts: 36,837 ✭✭✭✭✭
    Kinda reminds me of on-line poker. How do you know you the website master is not sitting at your table looking at all of the hands?

    Natural forces of supply and demand are the best regulators on earth.

  • TwoSides2aCoinTwoSides2aCoin Posts: 44,296 ✭✭✭✭✭


    << <i>Kinda reminds me of on-line poker. How do you know you the website master is not sitting at your table looking at all of the hands? >>



    Agreed. image
    Plus, I am curious where Holly Crap got all her money. image
  • UnknownUnknown
    This content has been removed.
  • LukeMarshallLukeMarshall Posts: 1,983 ✭✭✭✭✭
    Happy Bitcoin Black Friday!

    image

    It's all about what the people want...

  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭
    Someone please explain to me accurately and briefly how the Bitcoin deal works.

    Somehow the cynic in me sees Bernie Madoff, meets Bebe Rebozo.
  • gdavis70gdavis70 Posts: 256 ✭✭✭

    Bit coins are a method to store value electronically using encrypted key... the beauty is that it allows person to person payments with no transaction costs. Think of disintermediating Western Union or Paypal.

    This article is old and obviously it's conclusion is premature since MTGox is thriving and Bitcoin has taken off since the article came to print

    Rise and Fall of Bitcoin
    AntiqueBanknotes • National Currency
  • MGLICKERMGLICKER Posts: 7,995 ✭✭✭
    Thank you gdavis. So when the price fluctuates is that the value of say a share of equity in the operation or the value of one bitcoin?
  • gdavis70gdavis70 Posts: 256 ✭✭✭

    Thank you gdavis. So when the price fluctuates is that the value of say a share of equity in the operation or the value of one bitcoin?

    The price fluctuating is the price of a bitcoin... there are no shares. Bitcoins are finite....now there are about 15 million but there can only ever be 21 million. We will reach 21 million bitcoins in the year 2140.

    Once that happens the supply is fixed...

    AntiqueBanknotes • National Currency
  • derrybderryb Posts: 36,837 ✭✭✭✭✭


    << <i>Thank you gdavis. So when the price fluctuates is that the value of say a share of equity in the operation or the value of one bitcoin?

    The price fluctuating is the price of a bitcoin... there are no shares. Bitcoins are finite....now there are about 15 million but there can only ever be 21 million. We will reach 21 million bitcoins in the year 2140.

    Once that happens the supply is fixed... >>


    until the FED takes over. image

    Natural forces of supply and demand are the best regulators on earth.

  • OverdateOverdate Posts: 7,008 ✭✭✭✭✭
    Anyone up for a treasure hunt in Wales? image

    My Adolph A. Weinman signature :)

  • condorcollectiblescondorcollectibles Posts: 119 ✭


    << <i>Reports indicate majority of bitcoins being purchased from China. Maybe they are counterfeiting them. >>

    :

    rofl; What if that was true .......
    Condor
  • gdavis70gdavis70 Posts: 256 ✭✭✭

    << Reports indicate majority of bitcoins being purchased from China. Maybe they are counterfeiting them. >>

    Technically impossible...

    I think there are two reasons the Chinese are allover this.

    1) There are probably a million rich Chinese people that would like to get some of that money out of the country anonymously.
    2) The Chinese government is encouraging bitcoin because it sees that a strong bitcoin would weaken the dollars dominance.

    This link has been shown here before but watch currency stream from China...

    Fiatleak.com


    AntiqueBanknotes • National Currency
  • cohodkcohodk Posts: 19,155 ✭✭✭✭✭
    The US dollar has absolutely nothing to fear from bitcoin.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,837 ✭✭✭✭✭
    This will help cool demand:

    Bitcoin Thefts Surge, DDoS Hackers Take Millions



    << <i>One problem I see with Bitcoin is.................what happens if you pay for something and it doesn't get delivered? >>


    SOL, spending bitcoins is the same as spending cash. Once it leaves your digital wallet it is in someone else's.



    << <i>The US dollar has absolutely nothing to fear from bitcoin. >>


    least of it's worries. More pressing concerns at the moment.

    Natural forces of supply and demand are the best regulators on earth.

  • OverdateOverdate Posts: 7,008 ✭✭✭✭✭
    Gold bitcoins may be coming!

    If so, will they be slabworthy? image

    My Adolph A. Weinman signature :)

  • derrybderryb Posts: 36,837 ✭✭✭✭✭
    The rise of bitcoins is a perfect example of how the value of money is changed by the demand for that money. This is why world reserve currency status is so important to the dollar.

    Natural forces of supply and demand are the best regulators on earth.

  • wdrobwdrob Posts: 153
    I cashed out of a tiny amount I was playing with that realized a 100% gain on the 5th of November.



    Still waiting for that money to hit my bank. If it ever will. image
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