I bought one Bitcoin when it was (relatively) cheap, out of fascination, if nothing else. The volatility (not to say resilience) of Bitcoin has been extraordinary.
@dpoole said:
I bought one Bitcoin when it was (relatively) cheap, out of fascination, if nothing else. The volatility (not to say resilience) of Bitcoin has been extraordinary.
And no, I don't know Boosibri personally.
Good for you dpoole.
I'd file Bitcoin under 'speculation'. Only put in 'foolish' money one can afford to lose without care. ;-)
Unlike tulip bulbs, Bitcoin and other cryptocurrencies are not just a common thing that caught speculative fire. Instead, (and without precedent beyond transitory and unsustainable black markets) they present as a currency beyond the capacity of the powerful to control.
That may or may not prove to be true. But if it is, it is genuinely a revolutionary phenomenon, the consequences of which are absolutely unforeseeable, and are clearly transformative in any event. We have seen the Chinese, for example, invite Bitcoin, become unsettled by it, and then to ban it. The (unique among cryptocurrencies) response has been an unexpected massive resurgence following an initial wary fall-off. (It is up to a ridiculous $6861/Bitcoin as I write).
I don't know what to make of this, but I think we're arrogant to dismiss this phenomenon out of hand, or to discount what the internet, globalization and the geopolitical/social states of things introduce with regard to what people consider to be of value.
@cohodk said:
Does bitcoin demonstrate that anything could be adopted as a currency?
Yes, I believe that if it is accepted by a group of people that anything could be a currency. And Bitcoin, and other cryptocurrencies, have become just that to the technological age. People have traded spices, cloth, animals, minerals, etc all the way back to the beginning of time as a form of currency. Recently, a piece of paper with some ink and a promise on it. And even more recently, ones and zeros flying thru wires and showing up on computer screens.
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Blockchain Technology is an honest and accountable system. People in high places fear it.........BIG time.
No one can stop it. Governments, Banks, Politicans. No one.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
@guitarwes said:
Blockchain Technology is an honest and accountable system. People in high places fear it.........BIG time.
No one can stop it. Governments, Banks, Politicans. No one.
Wait till the Space Bros find out. They ain't gonna be happy.
How is Bitcoin going to become a viable currency when $7,000 is equal to one bitcoin? The exchange rate is way too high to be used for everyday purchases. If I want to buy a pop at the local convenience store are they really going to accept .00001428 bitcoin? Fees would eat up the entire amount.
You're correct. Think Bitcoin for very large transactions (house, car, land purchase, shifting millions from one place to another, etc). Bitcoin is not efficient for buying a cup of coffee.
There are several other micropayment coins that are better and faster than BTC for small purchases. Litecoin being one, if not the top, one. Dash is another popular one.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
It can and may one day be shut down.... all that needs to happen is the government pull the plug on the Internet and its worthless! How do you access bitcoin in a natural disaster? EMP? I will take the gold.
Even though I have a few I purchased at 11.00 each they will stay in cold storage for a long time. But the "what if's scare me.
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gold
I'd personally rather have just one ounce of gold than bitcoin.
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4.78 5.03 oz of gold or one bitcoin?
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I bought one Bitcoin when it was (relatively) cheap, out of fascination, if nothing else. The volatility (not to say resilience) of Bitcoin has been extraordinary.
And no, I don't know Boosibri personally.
Here's a warning parable for coin collectors...
Good for you dpoole.
I'd file Bitcoin under 'speculation'. Only put in 'foolish' money one can afford to lose without care. ;-)
Unlike tulip bulbs, Bitcoin and other cryptocurrencies are not just a common thing that caught speculative fire. Instead, (and without precedent beyond transitory and unsustainable black markets) they present as a currency beyond the capacity of the powerful to control.
That may or may not prove to be true. But if it is, it is genuinely a revolutionary phenomenon, the consequences of which are absolutely unforeseeable, and are clearly transformative in any event. We have seen the Chinese, for example, invite Bitcoin, become unsettled by it, and then to ban it. The (unique among cryptocurrencies) response has been an unexpected massive resurgence following an initial wary fall-off. (It is up to a ridiculous $6861/Bitcoin as I write).
I don't know what to make of this, but I think we're arrogant to dismiss this phenomenon out of hand, or to discount what the internet, globalization and the geopolitical/social states of things introduce with regard to what people consider to be of value.
And speaking of unprecedented stuff:
Go Astros!
Here's a warning parable for coin collectors...
Does bitcoin demonstrate that anything could be adopted as a currency?
Knowledge is the enemy of fear
Block chain technology is worth more than all the gold in the universe.
Yes, I believe that if it is accepted by a group of people that anything could be a currency. And Bitcoin, and other cryptocurrencies, have become just that to the technological age. People have traded spices, cloth, animals, minerals, etc all the way back to the beginning of time as a form of currency. Recently, a piece of paper with some ink and a promise on it. And even more recently, ones and zeros flying thru wires and showing up on computer screens.
Too many positive BST transactions with too many members to list.
Blockchain Technology is an honest and accountable system. People in high places fear it.........BIG time.
No one can stop it. Governments, Banks, Politicans. No one.
Too many positive BST transactions with too many members to list.
Wait till the Space Bros find out. They ain't gonna be happy.
Knowledge is the enemy of fear
How is Bitcoin going to become a viable currency when $7,000 is equal to one bitcoin? The exchange rate is way too high to be used for everyday purchases. If I want to buy a pop at the local convenience store are they really going to accept .00001428 bitcoin? Fees would eat up the entire amount.
You're correct. Think Bitcoin for very large transactions (house, car, land purchase, shifting millions from one place to another, etc). Bitcoin is not efficient for buying a cup of coffee.
There are several other micropayment coins that are better and faster than BTC for small purchases. Litecoin being one, if not the top, one. Dash is another popular one.
Too many positive BST transactions with too many members to list.
Bitcoin is rapidly appreciating for one reason only: I haven't bought any yet.
Once I do, look out below!
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Who's the guy who bot Bitcoin at $10? It's over $7000 now.
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removed, not my place
Go to the GBTC yahoo msg board...scroll down, a few bought in early and have several $100,000's...
The current pop to over $7,000 is probably due to CME announcing they will launch bitcoin futures by the end of the year.
Current ratio = 5.81:1.
Back in 1998 in a famous transaction 10,000 bitcoins were used to purchase 2 Papa Johns pizzas. Crazy times.
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i don't think Bitcoin goes back that far. I think 2009 was when the first coin was mined.
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There's a good flick on Netflix regarding the early history of bitcoin. It goes back to the 90's.
I Googled it on wikapedia
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https://en.m.wikipedia.org/wiki/History_of_bitcoin
I don't see it? Seems like 09 to me. What am I missing? I see the papa John's reference but didn't see a date attached.
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You missed it because it’s crypto.
The first Bitcoin block was in 2009. The Whitepaper came out in Oct. 2008, just after the horrendous crash of the stock market. Perfect timing.
Too many positive BST transactions with too many members to list.
Bitcoin has been a RIOT today, lol.
GLTA.
It can and may one day be shut down.... all that needs to happen is the government pull the plug on the Internet and its worthless! How do you access bitcoin in a natural disaster? EMP? I will take the gold.
Even though I have a few I purchased at 11.00 each they will stay in cold storage for a long time. But the "what if's scare me.
Gold , still
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