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#1 BSLChrisStoner

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Posted 21 December 2017 - 08:45 AM

NY Times:

 

What Is Bitcoin, and How Does It Work?


Bitcoin hasn't replaced cash, but users don't care
https://www.nytimes....FCDE755&gwt=pay

 

Winklevoss twins find redemption in Bitcoin
https://www.nytimes....voss-twins.html

 



#2 The Epic

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Posted 21 December 2017 - 08:59 AM

OMG, please don't get me started on bitcoin. I may never stop. LOL


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#3 Mackus

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Posted 21 December 2017 - 09:02 AM

A good buddy of mine got in a couple years ago.  Not sure how much he invested, my guess would be a few to several thousand, but enough that if you increase it 100 fold it'd be a really nice nest egg.  He hasn't sold it yet, which I think is insane.

 

Another friend of mine who is a money trader thinks it's the stupidest thing in the world.  "Worse than investing in beanie babies" is the best line I got.  There is no asset, it's just an illusion.

 

I threw a little bit of money at it recently (a couple different currencies) as a short term gamble.  Hoping to ride the crest of the wave and cash out before the bubble bursts.  If I can turn a quick 50% profit, that'd be a nice few months.  But I only put money that I won't completely hate myself for losing when it inevitably goes to zero.


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#4 RShack

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Posted 21 December 2017 - 09:21 AM

It's clearly a bubble.

 

IMO, it's a bubble that's not anywhere near its top.


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 "You say you've lost your faith, but that's not where its at.

  You have no faith to lose, and ya know it" - Bob Dylan


#5 BSLMikeLowe

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Posted 21 December 2017 - 12:18 PM

The tulip bulbs of the 21st century. 40% of all bitcoin is owned by about 1,000 people. If a critical mass of them decide to cash out, the party's over.


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#6 RShack

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Posted 21 December 2017 - 12:34 PM

The tulip bulbs of the 21st century. 40% of all bitcoin is owned by about 1,000 people. If a critical mass of them decide to cash out, the party's over.

 

That's like China owning dollars:  the very last thing they want to do is hurt the value of the very thing they own a ton of....

 

For the most part, bubbles don't burst until almost everybody is in...


 "You say you've lost your faith, but that's not where its at.

  You have no faith to lose, and ya know it" - Bob Dylan


#7 BSLChrisStoner

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Posted 22 December 2017 - 10:27 AM

Bloomberg: Bitcoin Tumbles More than 25% as Sharks ‘Beginning to Circle’
https://www.bloomber...-30-from-record

 

Bloomberg: Bitcoin Billionaires May Have Found a Way to Cash Out
https://www.bloomber...way-to-cash-out

 



#8 RShack

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Posted 22 December 2017 - 10:33 AM

It's gonna be a roller coaster.... nature of the beast, at least for a while anyway....


 "You say you've lost your faith, but that's not where its at.

  You have no faith to lose, and ya know it" - Bob Dylan


#9 SportsGuy

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Posted 22 December 2017 - 11:42 AM

It’s like gold..it’s going to fluctuate a lot.

#10 Mackus

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Posted 22 December 2017 - 12:43 PM

It’s like gold..it’s going to fluctuate a lot.

 

Gold does not fluctuate a lot.  At least not even remotely close to what Bitcoin has done this year.



#11 Mackus

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Posted 22 December 2017 - 12:45 PM

Can you guess which is Gold and which is Bitcoin?  :)

 

GoldBitcoin_zpsv34hzzpw.png?t=1513878301



#12 The Epic

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Posted 22 December 2017 - 12:53 PM

It normalized, as bitcoin is wont to do. It's not nearly back to where it was, but it's done sinking.

 

Comparing gold to bitcoin, is...no. Just no. 



#13 SportsGuy

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Posted 22 December 2017 - 12:55 PM

Gold does not fluctuate a lot. At least not even remotely close to what Bitcoin has done this year.

Gold literally changes every minute.

It may not have these enormous fluctuations but it’s volatile and subject to big moves up or down.

We have seen gold go up and drop several hundred dollars an ounce over the last decade.

Bitcoin is a different animal though.



#14 Pedro Cerrano

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Posted 22 December 2017 - 01:27 PM

Gold does not fluctuate a lot. At least not even remotely close to what Bitcoin has done this year.


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#15 Matt_P

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Posted 24 December 2017 - 09:50 AM

One of my friends bought four bitcoins in 2010, promptly forgot about them and threw out the device that he had them stored on. He was kicking himself last week. 



#16 Mashed Potatoes

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Posted 24 December 2017 - 02:17 PM

"Bitcoin Plunge Reveals Possible Vulnerabilities In Crazy Imaginary Internet Money"

 

https://www.theonion...craz-1821134169


@DaKittenz

#17 BSLChrisStoner

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Posted 29 December 2017 - 04:20 PM

The Ringer: “I’m Not Worried About the Price”: A Recent Visit to Silicon Valley’s Unofficial Bitcoin Headquarters



#18 SportsGuy

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Posted 29 December 2017 - 05:07 PM

"Bitcoin Plunge Reveals Possible Vulnerabilities In Crazy Imaginary Internet Money"

https://www.theonion...craz-1821134169


Lol..I saw that headline the other day.

The Onion is a National treasure.

#19 BSLChrisStoner

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Posted 14 January 2018 - 06:31 PM

NY Times: Everyone Is Getting Hilariously Rich and You’re Not
https://www.nytimes....llionaires.html



#20 BSLChrisStoner

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Posted 18 January 2018 - 04:24 PM

The Economist: The rise and fall of bitcoin
https://www.economis.../tales-crypto-1

 






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