Mt. Gox is now missing in action. It went from being one of the world's largest exchanges for Bitcoin to nothing. Empty office building and the founder is missing. This, after a lot of the bitcoins "disappeared" due to hacking. Bitcoin is NOT for me.
Looks good to me, I just invested my entire life savings and my children's college tuition in them along with heavily mortgaging everything I own. not I wonder if I start trading bags of deer pellets dipped in a proprietary blend of ink and run through a proprietary hardening process...if I can change the US monetary system. again.
Virtual currency hasn't died, even if bitcoin slows down there are others filling the gap. Litecoin, feathercoin, the new ones are apparently gathering steam because they are more cost effective to mine Sent from my HTC_PN071 using Tapatalk
I'd never heard of a bitcoin until reading this yesterday then saw on the news that Mt Gox disappeared. I already think the whole stock market thing is made up, I sure as hell ain't going to invest in something that truly is imaginary.
If they are easier to mine, would this not reduce their value? And are they secure? That is bitcoins big failure right now.
Don't know if they are any more or less secure. I would be interested to hear though if there is anyone who does? I think their value is only low while they are new. If they are like bitcoin and there is a limited number then the price will prpbably jump, as long as people keep wanting them. Plus, being easier to mine might mean that the price will spike. Apparently instead of having to spend thousands to build a rig, one high end gpu is enough to make money on the newer ones. If people jump on that idea demand could skyrocket. All I meant by the post was, virtual currency seems to be growing at the moment. To qualify, I'm definitely no expert. I've done some research because the whole thing fascinates me. But I haven't got any money in them. Sent from my HTC_PN071 using Tapatalk
Although I want nothing to do with the bitcoin, I will play devil's advocate here. Let's not foget that our currency is no more valuable because it's not backed by anything. Our currency is not considered lawful money, it's considered "legal tender" - and the bitcoin could be considered the exact same thing. And I agree Afflicted, it's like carbon credits...crazy in my opinion. EDIT: I don't know if bitcoins would be considered a leftist scam, maybe a scam. Scams come in all shapes and sizes from all sorts of people.
Exactly, as long as people believe that it has value then it's fine. As soon as people start to have doubts and start selling....down the toilet it goes.
Use the processing power from high end graphics cards to run software that "mines" them Sent from my HTC_PN071 using Tapatalk
Just bumping this back up to see peoples thought years later. Wish I'd have jumped on board for $10 back in 2009. Cannot say that I would have kept it until now, but if I had I'd be able to sell it for over $500 million. Reason I brought it back up is I bought some last month. My TV service provider has requested I pay using Bitcoin now, so I did for the amount. Afterwards I bought $75.00 worth just to have on hand for next payment. It's now worth $126.xx in less than a month. A week after I used PayPal to buy $100 which is also up and posted below, easier to do math on an even number. Anyhow, thing is, the person that I was talking with believed it would fall to 26,000 or so by March and he was going to heavily invest in it then, Said he would triple his money by Christmas. He really thinks more and more companies are going to start adding it for payment options, from utilities to vendors etc. When I filed my taxes this year they now have a crypto currency investment option, don't remember that in years past.
So I’ve been waiting for this post to pop up. I remember it well and knew one day it would. I’ve thought about it a lot over the years, honestly. Just knowing we all laughed at this idea way back when, and how it turned out. Poetic. Sent from my iPhone using Tapatalk
Yet, as in my comparison, in 2009 could you have tossed out $10 and forgotten about it for a decade? Hell, just when this thread was created several years later, had you gotten in for a few hundred or a grand you would still be sitting pretty. I can't grasp it, it is definitely volatile and I don't know who profits when it goes down etc. I've got $175 total right now in real money invested. In less than 30 days it is up $125. I wish I understood this chit regardless. I only bought so I'd have it for a payment. Seeing it fluctuate up and down in a week I bought more, but not spending bill money. Just a small amount. Think I know what I'll get with Grandpa Biden's check if it passes.
Thing is if you can make a fortune and realize it you can rapidly lose it, never chase a bubble, do not run down to the cows, walk down and take all the cows.
