Bitcoins,,,they are suppose to be the new

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The bitcoin rage is supposed to be the new money highway to making millions,,anyone got any infor,,there is plenty on youtube, Amazon is looking at it so we can pay for our stuff.
 
I'm almost going to buy a few. Might buy another cryptocurrency like Ripple or Ethereum.
 
I own some BTC. It's basically a currency not backed by anything but people's belief that it is worth something. It's obtained by exchanging oyher currency for it or using processing power to solve calculations and earn little bits of it at a time.

It's going to go up and down similar to a stock and will rise and fall based on events the happen in the world relating to the currency. For example, it dropped recently because someone who had a large portion of the lite coins (another crypotcurrency often traded for BTC) in circulation sold it all.

It's a gamble like any other investment but as it is high risk, never put in more than you are willing to lose.

If you buy it or other crypotcurrency, PLEASE PLEASE use coinbase. It's the most safe exchange and isn't a scam like so many of the other ones are.
 
Originally Posted By: TinyVoices
I own some BTC. It's basically a currency not backed by anything but people's belief that it is worth something. It's obtained by exchanging oyher currency for it or using processing power to solve calculations and earn little bits of it at a time.

It's going to go up and down similar to a stock and will rise and fall based on events the happen in the world relating to the currency. For example, it dropped recently because someone who had a large portion of the lite coins (another crypotcurrency often traded for BTC) in circulation sold it all.

It's a gamble like any other investment but as it is high risk, never put in more than you are willing to lose.
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If you buy it or other crypotcurrency, PLEASE PLEASE use coinbase. It's the most safe exchange and isn't a scam like so many of the other ones are.
 
Originally Posted By: 901Memphis
I should have bought bit coin when it was $1...


This.

Party is over now.

It is an incredibly speculative gamble, currently.

BUT THIS IS WHAT IT IS NOT: "It's a gamble like any other investment..."

Bitcoin is only worth what someone else is willing to pay. You're not investing in a company, like when you buy stock. You're basically exchanging USD for a digital "currency" that may or may not be worth any money soon. You can invest in gold and own gold. You can invest in a mutual fund and own fractional shares of lots of companies. "Investing" in bitcoin or any other cryptocurrency is not like that at all.

Yes, some people have become quite wealthy from it. Doesn't mean its a good place to put your money.

Definitely do not use more money than you are okay with loosing. Just like sitting down at the blackjack table.
 
I'd be willing to bet that traditional financial institutions are a bit concerned about being cut out of the very processes that they up until now have owned.

Sending money home by immigrants is one heck of a business and BitCoin reduces the time and cost. What used to take days now take minutes and 10%+ in charges has been reduced to 2 or 3%. If you think BitCoin has been publically trashed before you "ain't seen nothing, yet".
 
Originally Posted By: OneEyeJack
I'd be willing to bet that traditional financial institutions are a bit concerned about being cut out of the very processes that they up until now have owned.

That's no doubt some significant portion of the controversy. I've read interviews by people from major financial institutions, pushing major, glaring misunderstandings about Bitcoins. Do they really know that little, or is it just part of doing business to spread a little manure?
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It's a risk like any thing but I've got coinbase and I've made$6,000 so far. Last couple weeks I lost some of my profit but I'm still way in the green. I have a system when I about double my money I pull out my profit and let the principal make money again. I've done ok so far. Ive made more off litecoin than any of them.
 
It exists in a small world where people speak of it as if it was a viable thing.

80% of the computers which administer it are in China. And do not forget that the same coterie "mines" them.

Hey, I'm not hep at all but I know when something stinks and when speakers obfuscate. NOBODY can answer any Bitcoin question with certainty.

Maybe it's like the old comedy bit about "Diamonique" jewelry....it's OK if you can pay with moneyola.

That's it, Bitcoin is moneyola!
 
You do realize a week before that it was sub 10k?

That correction was needed. Too many people buying in at the moment with no idea of what it does.

Doesn't matter to me. If it continues like it has for another 41 days, I'll never work again in my life.

Not bad for an initial $63 investment.
 
Originally Posted By: Kira
It exists in a small world where people speak of it as if it was a viable thing.

80% of the computers which administer it are in China. And do not forget that the same coterie "mines" them.

Hey, I'm not hep at all but I know when something stinks and when speakers obfuscate. NOBODY can answer any Bitcoin question with certainty.

Maybe it's like the old comedy bit about "Diamonique" jewelry....it's OK if you can pay with moneyola.

That's it, Bitcoin is moneyola!


What are your questions? It's open source, just look at the source code.

China banned bitcoin a while ago.

As to where it ends, who knows, some claim 500k, others 0.
 
Originally Posted By: TinyVoices
It's basically a currency not backed by anything but people's belief that it is worth something.


Same as the USD once we left the gold standard in 73...just another fiat currency.
 
Read an article today about what affluent people are doing. Affluent meaning $10 million US or more in investments. They're not even asking about bitcoins.

So bet against that gang at your own risk. Or just send me your money. You'll have no chance of getting it back, but at least you'll know that right from the start.
 
The US dollar is also backed by virtually nothing, just the faith that its worth a dollar and that the fed can pay. Id highly recommend anyone to get in for now, take a chance with 100, 1000, 10000 and see how it pays off. As it goes with any investments, invest only what you can afford to lose. This is like the internet before everyone know what it was all about. I firmly believe its going to be everywhere. Also the big boys are involved, the stock market is trading bitcoin futures, and there is sepculation that they are responsible for the massive swings that have been seen in the past two weeks. Also Bitcoin is trading at 15.5k right now, which is up 6k since the beginning of the month, the swings are typical of this volatile time, but its always big gains if you hold out for a while and pay attention. When I started buying in, May of this year, Bit was at 1500, Ether was 70, and Litecoin was roughly 15.
 
Originally Posted By: Mr Nice
Seems like a scam to me.

Some will time it perfectly and others will get burned.
My thoughts exactly
 
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