@Baley said:
Yeah, it's going parabolic, and average people are entering the "fear of missing out" phase.
That always ends well.
That's a great way to put it!!!
Just last night, a buddy of mine was telling me how he is part of some site that pays him interest on bitcoin transactions "It's just pennies per day right now, but if this keeps up, I could get over a grand each day- just on this interest!"
@cohodk said:
I constantly hear butcoin being compared to gold and thusly should have an equal market cap. Why is bit coin compared to gold? Why should crypto be worth as much as gold?
Why should tulips have been worth more than gold? Answer: speculators.
When fundamentals do not dictate price, speculators (or lack of) will always fill the void. And while many of them get rich they do so at the expense of another party. If ya gonna speculate don't hang around for the fallout.
The fundamental pundits are the ones saying it should be compared to gold. I want to know why folks think it should be worth as much as gold? Why not some other asset class? What is the reasoning to compare it to gold?
It's 9857 right now... you're telling me it dropped over $1000 in a day?
No Thanks, not for me.
It was at 5800 two weeks ago.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Seen it coming. Those who say Big Gov don’t like so buy really. If you don’t have Billions or Trillions your on a train with a short track. Enjoy the ride. Exit in the rear cart please.
So many of you caution against emotionality in getting caught up in this cryptocurrency phenomenon, but I'm seeing emotionality all over the place.
The usual anxieties about timing the ups and downs are compounded vastly here by the fact that this particular phenomenon seems so beyond the reach of the usual players and insiders. The evidence is the vast range of the volatility, as people pile in and pile out. In the meanwhile, others (like many here) sit on the sidelines, hoping that this is, indeed, something familiar (tulip bulbs), and so are emotionally invested in every massive dip in BTC price ("See? It's a bubble. Just like the others").
I'm sure that part of this BTC run-up is the fact that far too much capital is sitting on the sidelines world-wide, looking for something to do. But still: we have a world that is unfamiliar in so many ways to history and consequently to all of us. Cryptocurrency (and so much more) may be another transient vapor, or maybe not.
According to Jim Rickards, in an effort to catch tax cheats, “The IRS could subpoena one of these [cryptocurrency] exchanges and freeze up all the bitcoin. The IRS did this with Americans with Swiss bank accounts, they’ll do it with bitcoin.”
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
@derryb said:
just a matter of time before precious metals get cryptocized with backing a block chain product. When this occurs true price discovery will change the way PMs are priced and the paper ETFs and futures markets will suffer.
CME announced today they will begin offering bit coin futures on December 18. Nasdaq to follow in early 2018.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
I watched about a minute of that Nobel Laureate's interview and the gist of it is that he is just fine with a government-run digital currency, but not a crypto currency that can't be tracked. So, like everything else - just have gov.com outlaw anything that they can't control. pfffffftt.......what a dolt.
Let's be frank, everyone has an agenda. The donor class and bankers control the lawmakers who always milk the rest of us for everything they can get. Cryptos and precious metals are both as vulnerable to gov.com oversight as anything else. The only thing you can do is to pay your taxes and try and stay out of their way.
Q: Are You Printing Money? Bernanke: Not Literally
Yep... looks like the IRS camel has wedged it's nose under the tent. Depending on how hard they push this, or whether they keep prying more and more (could be LOADS of tax money that has not been reported or paid), there could be some that might be having some fun times ahead.
Bitcoin just makes me think of Enron. How they convinced so many to keep buying their stock all the while the big fish dumping behind the scenes for big profits.
I also just have the feeling Governments are going to attack it hard sometime in the future.
Just my humble opinion.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
All I can say is wow....
Maybe some of you are right when you say Bitcoin is great... and the currency of the future. Could be... but I think I will remain using the old fashioned tested by ages methods.... (like trusting in the Federal Reserve system!)
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
From that article- "They can shut down Bitcoin in the blink of an eye by simply defining anyone who is a miner to be a financial institution."
Shutting down Bitcoin will never happen. The US Gov't can try to shut down the miners, but miners are worldwide. Bitcoin, and other cryptos, will continue and continue to be used.
$16k BTC anyone?
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
So something clicked in my brain the other day. It dawned on me that I left a tiny bit of BTC in a wallet because I couldn't use exactly all of it when I cash out on silver. Only a few dollars that I recall. But with btc going from where I left it at $400 to now it should be worth the hunt.
I spent two hours going through a pile of old hard drives. Most didn't work so into the freezer they went for an hour. Yes I know, some say BS but about that trick, but about half worked long enough for a search. Then of course the fast drag and drop of found file. Which I did find in a 2014 drive.
So the global transaction history is downloading now and in a few hours or a day I'll see what I left in that string of characters.
So that brings up a point. Always hang on to the drives if you buy a used computer that had multiple video cards because it may of been a miner, and there might be a lost wallet, and you might crack the password. It's happened before. I normal scanned for wallets in that case, when I flipped computer gear back then.
edit to add: It's going to take a week to dl that database with my connection speed.
I do not understand it either but it seems to be catching on everywhere....even yesterday while i was walking in my local store i say this machine where it says buy bit coin and sell bit coin. I also heard there was a recent hack on the bitcoins and millions were stolen and i also saw a piece on the news where in Russia they have this massive complex like football fields long of computers Farming bitcoins? The report also says that they plan to build more of such farming complex. So my question is Can anyone just farm bitcoin or only a select few with technical knowledge and what have you?
@CCC2010 said:
Can anyone just farm bitcoin or only a select few with technical knowledge and what have you?
Anyone can farm but takes knowledge, not your average computer and from what I understand a big increase with your electric bill. Even with multiple high end CPUs it make take a year or more to mine one bitcoin.
Comments
Wow! Just passed $10,000 with fury...10,369.03.
11,244.59 Right now!
My YouTube Channel
Me too!
Lots of room to run from here.
Might be a tad bumpy, but just wait until a lot of institutional money starts flowing in..........
.
Too many positive BST transactions with too many members to list.
Yeah, it's going parabolic, and average people are entering the "fear of missing out" phase.
That always ends well.
Liberty: Parent of Science & Industry
That's a great way to put it!!!
Just last night, a buddy of mine was telling me how he is part of some site that pays him interest on bitcoin transactions "It's just pennies per day right now, but if this keeps up, I could get over a grand each day- just on this interest!"
Right, man....right.
The fundamental pundits are the ones saying it should be compared to gold. I want to know why folks think it should be worth as much as gold? Why not some other asset class? What is the reasoning to compare it to gold?
Knowledge is the enemy of fear
It's 9857 right now... you're telling me it dropped over $1000 in a day?
No Thanks, not for me.
It was at 5800 two weeks ago.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
And two weeks from now?....
Seen it coming. Those who say Big Gov don’t like so buy really. If you don’t have Billions or Trillions your on a train with a short track. Enjoy the ride. Exit in the rear cart please.
Best place to buy !
Bronze Associate member
So many of you caution against emotionality in getting caught up in this cryptocurrency phenomenon, but I'm seeing emotionality all over the place.
The usual anxieties about timing the ups and downs are compounded vastly here by the fact that this particular phenomenon seems so beyond the reach of the usual players and insiders. The evidence is the vast range of the volatility, as people pile in and pile out. In the meanwhile, others (like many here) sit on the sidelines, hoping that this is, indeed, something familiar (tulip bulbs), and so are emotionally invested in every massive dip in BTC price ("See? It's a bubble. Just like the others").
I'm sure that part of this BTC run-up is the fact that far too much capital is sitting on the sidelines world-wide, looking for something to do. But still: we have a world that is unfamiliar in so many ways to history and consequently to all of us. Cryptocurrency (and so much more) may be another transient vapor, or maybe not.
Here's a warning parable for coin collectors...
Last time I lost $1000 in a day was at a casino...
There is a direct relationship between volatility and speculation.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
According to Jim Rickards, in an effort to catch tax cheats, “The IRS could subpoena one of these [cryptocurrency] exchanges and freeze up all the bitcoin. The IRS did this with Americans with Swiss bank accounts, they’ll do it with bitcoin.”
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
And it begins
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
This has been interesting to watch, no doubt!
My YouTube Channel
Not much volatility in equity markets so no speculation?
Knowledge is the enemy of fear
No, the rise has been right in step with money creation - as designed.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
So are they going to keep "creating" money?
Knowledge is the enemy of fear
You tell me, you're in touch with them.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Then it looks like your horse is an also ran. You were warned. Lol
Knowledge is the enemy of fear
CME announced today they will begin offering bit coin futures on December 18. Nasdaq to follow in early 2018.
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
Coinbase Loses Bid to Block U.S. Tax Probe of Bitcoin Gains
You can run but you can't hide. This should remove some of bitcoin's lustre.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I watched about a minute of that Nobel Laureate's interview and the gist of it is that he is just fine with a government-run digital currency, but not a crypto currency that can't be tracked. So, like everything else - just have gov.com outlaw anything that they can't control. pfffffftt.......what a dolt.
Let's be frank, everyone has an agenda. The donor class and bankers control the lawmakers who always milk the rest of us for everything they can get. Cryptos and precious metals are both as vulnerable to gov.com oversight as anything else. The only thing you can do is to pay your taxes and try and stay out of their way.
I knew it would happen.
Yep... looks like the IRS camel has wedged it's nose under the tent. Depending on how hard they push this, or whether they keep prying more and more (could be LOADS of tax money that has not been reported or paid), there could be some that might be having some fun times ahead.
http://www.zerohedge.com/news/2017-12-02/government-coming-your-bitcoin
I remember my Brother talking about these bitcoins for $10 back a few years back.
100% Positive BST transactions
Bitcoin just makes me think of Enron. How they convinced so many to keep buying their stock all the while the big fish dumping behind the scenes for big profits.
I also just have the feeling Governments are going to attack it hard sometime in the future.
Just my humble opinion.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
I prefer things the government can manipulate and charge a 30% premium on. Like silver and gold. LOL
Over $12,800! Pretty quiet out there.
Over 13K now.
Here's a warning parable for coin collectors...
Gotcha. Picked up GBTC. Let it ride. I consider it like taking a byte out of cryme.
Wish I'd of kept mine from years back. I still search hard drives for btc wallet software.
I approach these with the same caution as I would with a scam....or a rattlesnake.
New regulation will remove the anonymity of Bitcoin and other cryptocurrencies
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
It's 1999 all over again, lol..
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
All I can say is wow....
Maybe some of you are right when you say Bitcoin is great... and the currency of the future. Could be... but I think I will remain using the old fashioned tested by ages methods.... (like trusting in the Federal Reserve system!)
Largest Crypto-Mining Exchange Confirms It Was Hacked, Over $50 Million In Bitcoin Stolen
Update: Now at $62 million.
Well, maybe now it's in somebody's hands.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Let the naked shorting begin. This will get it under the gov's control.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
16,000
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
From that article- "They can shut down Bitcoin in the blink of an eye by simply defining anyone who is a miner to be a financial institution."
Shutting down Bitcoin will never happen. The US Gov't can try to shut down the miners, but miners are worldwide. Bitcoin, and other cryptos, will continue and continue to be used.
$16k BTC anyone?
Too many positive BST transactions with too many members to list.
I''m still planting tulips each spring.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
17,000!
Collecting 1970s Topps baseball wax, rack and cello packs, as well as PCGS graded Half Cents, Large Cents, Two Cent pieces and Three Cent Silver pieces.
But will they pay in bitcoin
crowd delusion fueled by the extraordinary promise of free wealth!
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
So something clicked in my brain the other day. It dawned on me that I left a tiny bit of BTC in a wallet because I couldn't use exactly all of it when I cash out on silver. Only a few dollars that I recall. But with btc going from where I left it at $400 to now it should be worth the hunt.
I spent two hours going through a pile of old hard drives. Most didn't work so into the freezer they went for an hour. Yes I know, some say BS but about that trick, but about half worked long enough for a search. Then of course the fast drag and drop of found file. Which I did find in a 2014 drive.
So the global transaction history is downloading now and in a few hours or a day I'll see what I left in that string of characters.
So that brings up a point. Always hang on to the drives if you buy a used computer that had multiple video cards because it may of been a miner, and there might be a lost wallet, and you might crack the password. It's happened before. I normal scanned for wallets in that case, when I flipped computer gear back then.
edit to add: It's going to take a week to dl that database with my connection speed.
Is it exponential yet?
I knew it would happen.
I fear the casualties of precious metal dealers that accept bitcoin because when bitcoin falls, they might as well (bag holders.)
I do not understand it either but it seems to be catching on everywhere....even yesterday while i was walking in my local store i say this machine where it says buy bit coin and sell bit coin. I also heard there was a recent hack on the bitcoins and millions were stolen and i also saw a piece on the news where in Russia they have this massive complex like football fields long of computers Farming bitcoins? The report also says that they plan to build more of such farming complex. So my question is Can anyone just farm bitcoin or only a select few with technical knowledge and what have you?
Coinfame,Kaelasdad,Type2,UNLVino,MICHAELDIXON
Justacommeman,tydye,78saen,123cents,blue62vette,Segoja,Nibanny
Anyone can farm but takes knowledge, not your average computer and from what I understand a big increase with your electric bill. Even with multiple high end CPUs it make take a year or more to mine one bitcoin.
Man Sells House To Build Bitcoin Mining Rig
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
"even yesterday while i was walking in my local store i say this machine where it says buy bit coin and sell bit coin"
Reminds me of circa 2010 when tons of stores with no business being involved in precious metals had a "WE BUY GOLD" sign.