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Bitcoin / Litecoin / Ethereum / alts discussion

What are you in?

  • Bitcoin

    Votes: 5 12.2%

  • Litecoin

    Votes: 5 12.2%

  • Ethereum

    Votes: 6 14.6%

  • Alts

    Votes: 2 4.9%

  • Nothing

    Votes: 19 46.3%

  • Carrots

    Votes: 15 36.6%
  • Total voters
    41
#81
Is it too late to get in? :roflmao:

Invalid Link Removed

Invalid Link Removed, the red-hot digital currency, has cleared $10,000 for the first time ever.

The virtual currency, which has gripped the attention of Wall Street and Main Street, reached the much-anticipated threshold at around 1:26 p.m. ET, according to data from Markets Insider.

The currency was flirting with $10,000 throughout the trading day on Tuesday, and has been on a tear since the US Thanksgiving holiday. It's up more than $2,000 since Thursday's low of $7,979 per coin.

Bitcoin has been on a wild ride this year. In addition to rising nearly $9,000 since the beginning of the year, the cryptocurrency has withstood a number of splits in its blockchain, including one in August that resulted in the creation of clone coin Invalid Link Removed. Disagreements over how the coin should scale continue to divide power brokers in the bitcoin community.

Wall Streeters, including JPMorgan CEO Jamie Dimon, have derided the cryptocurrency as only useful for criminals.
 
#82
Alkali Ike said:
Is it too late to get in? :roflmao:

Invalid Link Removed

Invalid Link Removed, the red-hot digital currency, has cleared $10,000 for the first time ever.

The virtual currency, which has gripped the attention of Wall Street and Main Street, reached the much-anticipated threshold at around 1:26 p.m. ET, according to data from Markets Insider.

The currency was flirting with $10,000 throughout the trading day on Tuesday, and has been on a tear since the US Thanksgiving holiday. It's up more than $2,000 since Thursday's low of $7,979 per coin.

Bitcoin has been on a wild ride this year. In addition to rising nearly $9,000 since the beginning of the year, the cryptocurrency has withstood a number of splits in its blockchain, including one in August that resulted in the creation of clone coin Invalid Link Removed. Disagreements over how the coin should scale continue to divide power brokers in the bitcoin community.

Wall Streeters, including JPMorgan CEO Jamie Dimon, have derided the cryptocurrency as only useful for criminals.
Click to expand...

Very odd, but I wish I had bought the 1000 for $0.10 each back in around 2009. But I guess I will go for plan B - working until 70+.
 
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#83
-Asdfgh- said:
Very odd, but I wish I had bought the 1000 for $0.10 each back in around 2009. But I guess I will go for plan B - working until 70+.
Click to expand...
There really weren't many ways to purchase in 2009 as that was when the currency started. Unless you knew Finney or Dai. bitcointalk didn't even start until Nov 2009... and at that point, BTC was still effectively worthless. It didn't hold $0.10 USD value until mid-late 2010.
 
#84
Selta said:
There really weren't many ways to purchase in 2009 as that was when the currency started. Unless you knew Finney or Dai. bitcointalk didn't even start until Nov 2009... and at that point, BTC was still effectively worthless. It didn't hold $0.10 USD value until mid-late 2010.
Click to expand...

around 2009 - I couldn't remember exactly when. seems like it must have been 2010
 
#85
Hopefully this isn't too political, as there are a few editorial jabs at libertarian and anarchist types, but I think this RationalWiki entry does a pretty good job at cutting through the pseudo-finance babble and jargon and explains exactly what Bitcoin is. I guess one thing that is confusing is whether it's a security or a currency. It's kind of treated as both. Regardless, I can certainly see the dangers of it being a bubble, particularly if it's treated as a security. Economic value is largely a social construct, but Bitcoin exists entirely in the abstract. It's looks like investors have some time to clean house; after that, better put on the snorkle when that bubble breaks. I don't purport to be an economics genius, but one thing that strikes me is that Bitcoin is totally finite, which means that people could conceivably acquire majority capital. In a normal fiat economy, value and wealth can actually be created. That doesn't seem to be the case with BitCoin, unless we are talking about Bitcoin's value compared against a traditional fiat currency, which is why I can foresee a crash since Bitcoin is totally an abstract set of code that doesn't actually represent real value.

Bitcoin - RationalWiki
 
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#89
LiquidMidnight said:
Hopefully this isn't too political, as there are a few editorial jabs at libertarian and anarchist types, but I think this RationalWiki entry does a pretty good job at cutting through the pseudo-finance babble and jargon and explains exactly what Bitcoin is. I guess one thing that is confusing is whether it's a security or a currency. It's kind of treated as both. Regardless, I can certainly see the dangers of it being a bubble, particularly if it's treated as a security. Economic value is largely a social construct, but Bitcoin exists entirely in the abstract. It's looks like investors have some time to clean house; after that, better put on the snorkle when that bubble breaks. I don't purport to be an economics genius, but one thing that strikes me is that Bitcoin is totally finite, which means that people could conceivably acquire majority capital. In a normal fiat economy, value and wealth can actually be created. That doesn't seem to be the case with BitCoin, unless we are talking about Bitcoin's value compared against a traditional fiat currency, which is why I can foresee a crash since Bitcoin is totally an abstract set of code that doesn't actually represent real value.

Bitcoin - RationalWiki
Click to expand...

Time to read some Galbraith...
 
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#94
-Asdfgh- said:
Actually, one of the problems I have in polite company is that I know little of literature, drama, or poetry (but I know what I like), and few want to talk economics or science at a dinner party.
Click to expand...
I start talking about bass guitars and bassists. Eyes are pretty much glazed over by the time I get to the part about Leo Fender and the history of Fender guitars.
 
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#96
Gorn said:
How did that work? I'll never understand how they're earned but I'm curious how exactly they're spent.
Click to expand...
I went through checkout, selected "Pay with Bitcoin", which was just below "PayPal". Entered the required information and a few minutes later, had my confirmation. Very similar to any other checkout procedure. The best part was, with the spike in BTC price, the entire thing cost me exactly nothing in terms of USD.
 
#97
I want to kill myself after this week. A friend into international currency was giving out BITCOIN crypto to people about 5 to 5 1/2 years ago... I thought it was worthless. It thought it was Like Junk you get at a carnival.. I said NO THANKS.. If i had accepted the crypto, i'd have about $4 -5 EDIT: A couple million in Bitcoin today..
I still have NO idea how one cashes it in... Or how MINING works...
I do know some vendors get hacked from time to time.. I guess they have that covered though..
Its sort of a self regulating currency which sort of makes it rather stout... From what i have read There are a limited amount of BITCOIN . They don't make more if the need arises. I Know the FED RESERVE is NOT happy about Bitcoin..
 
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#99
svtb15 said:
I guess they have that covered though..
Click to expand...
Nope.
Its sort of a self regulating currency which sort of makes it rather stout... From what i have read There are a limited amount of BITCOIN . They don't make more if the need arises. I Know the FED RESERVE is NOT happy about Bitcoin..
Click to expand...
True, if "stout" means "volatile."

Fed is indifferent. IRS is justifiably concerned about money laundering and tax evasion. US money and bitcoin serve different purposes. People will choose the money system that's the most useful to them at any moment.
 
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#100
svtb15 said:
I want to kill myself after this week. A friend into international currency was giving out BITCOIN crypto to people about 5 to 5 1/2 years ago... I thought it was worthless. It thought it was Like Junk you get at a carnival.. I said NO THANKS.. If i had accepted the crypto, i'd have about $4 -5 EDIT: A couple million in Bitcoin today..
I still have NO idea how one cashes it in... Or how MINING works...
I do know some vendors get hacked from time to time.. I guess they have that covered though..
Its sort of a self regulating currency which sort of makes it rather stout... From what i have read There are a limited amount of BITCOIN . They don't make more if the need arises. I Know the FED RESERVE is NOT happy about Bitcoin..
Click to expand...

To correct just a few things:

  1. They do not have any hacking risk "covered"
  2. It is not "stout" or "self regulating". It makes the peso look stout, though.
  3. The IRS is not happy about digital money laundering.
 
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