Author Topic: bitcoin becoming legit currency  (Read 12065 times)

galeniko

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Re: bitcoin becoming legit currency
« Reply #50 on: November 15, 2013, 04:25:39 PM »
haha safe from inflation.

is it safe from deflation ::)

its always couple to some fiat currency, until you can go into shops and they take it as payment everywhere, you can dream on.

"theres only 21million", yet they gonna trade in bits of bitcoin.

if you think the issuing of currency is best done without regulation,i dont know waht to say.

so far,its a volatile goods exchange tool, you may calm down
n

The True Adonis

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Re: bitcoin becoming legit currency
« Reply #51 on: November 15, 2013, 04:56:52 PM »
Imagine trying to explain to a 65-70 year old person what bitcoins are. 

galeniko

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Re: bitcoin becoming legit currency
« Reply #52 on: November 15, 2013, 04:59:29 PM »
Imagine trying to explain to a 65-70 year old person what bitcoins are. 
and their pensions.

lol imagine your employer offered you to pay your pension funds in bitcoins.

lol
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Mr Nobody

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Re: bitcoin becoming legit currency
« Reply #53 on: November 15, 2013, 05:23:24 PM »
Imagine trying to explain to a 65-70 year old person what bitcoins are. 
Yes they will probably pull out some wheat pennies thinking they are dollar coins.

Ganuvanx

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Re: bitcoin becoming legit currency
« Reply #54 on: November 15, 2013, 06:05:18 PM »
"lol imagine your employer offered you to pay your pension funds in bitcoins."

Wait until you go to collect your pension and find out you'll be working the rest of your life instead of enjoying your golden years. I'd be searching out alternate methods to preserve and grow your wealth outside the system right now before it's too late. One great way is bitcoin. Another will be precious metals. The price explosion you're seeing right now in bitcoin would be the same in precious metals if every aspect of the market wasn't completely manipulated by the same people that hate bitcoin. Physical supply vs. demand will eventually blow the roof off metal prices. Consider these things insurance for unfunded liabilities that no government in the world will be able to cover without making the money in your wallet worthless.

arce1988

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Re: bitcoin becoming legit currency
« Reply #55 on: November 15, 2013, 09:26:17 PM »
 :D ;D

Natural Man

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Re: bitcoin becoming legit currency
« Reply #56 on: November 15, 2013, 09:40:15 PM »
This recent jump in bitcoin price from ~120 per coin to over 400 was primarily due to the announcement of the installation of a single bitcoin ATM in Vancouver. Can you imagine what’s going to happen when they start installing Bitcoin ATMs all over China and Europe? It WILL happen. Bitcoin and other competing crypto currencies are here to stay. Bitcoins are at less risk than the money in your wallet that’s being stolen from you via inflation. Trade your bitcoins on the exchanges and immediately transfer them to your jump drive and put them into a fireproof safe bolted to the floor. There’s literally zero risk of having them stolen unless you foolishly keep them stored online at the exchanges. This is how an unmanipulated, uncorrupted free currency market works. That’s why the US government and world central banks hate bitcoin. It’s out of their control. They can’t stop it. I’d recommened everyone a little in their portfolio. It is the investment of a lifetime and the price is going much higher.
yeah, but...what when your "jump drive" doesnt work anymore cause it s a pos made in china designed to last 4 months after it is powered on for the first time.
This is so retarded on so many levels. Solid assets ffs, gold, silver, land, house, guns, family, everything else is "virtual" including fiat money.

Marty Champions

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Re: bitcoin becoming legit currency
« Reply #57 on: November 16, 2013, 04:32:34 AM »
if you own shares of gold in the stock market , can you pull this gold out of the market into your pocket?

gold and silver seem the best way to exchange since its not confusing. if someone offerd me a pound of gold for a rental house id probably take it. im guessing a pound of gold is 50 grand? anyways my point is gold and silver seems superior still
A

The True Adonis

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Re: bitcoin becoming legit currency
« Reply #58 on: November 16, 2013, 04:51:10 AM »
This is one my favorite Fiats.  Very fast from the start and a pleasure to drive.


BOW

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Re: bitcoin becoming legit currency
« Reply #59 on: November 17, 2013, 08:46:14 AM »
the way i see it there is some cash to be made with these cypto currencies. Ive purchased bitcoins over the years I'd have close to $7-10k usd if i would have kept all that ive purchased or mined. Im going to throw a small investment into litecoin as well. seeing that its very affordable and has 4x the amount available than bitcoin it can become a viable option as well. at around $4/litecoin it doesnt hurt to give a few hundred into it.

The True Adonis

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Re: bitcoin becoming legit currency
« Reply #60 on: November 17, 2013, 10:06:50 AM »
I think bodybuilding supplements should be used as purchasing power instead of money.  That would be a good idea.

TheGrinch

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Re: bitcoin becoming legit currency
« Reply #61 on: November 17, 2013, 10:17:41 AM »
yeah dont worry... keep buying bitcoins....LOL, youre money is really safe..... dumbasses


http://blogs.marketwatch.com/thetell/2013/11/12/chinese-bitcoin-exchange-disappears-with-4-1-million/

Chinese bitcoin exchange disappears with $4.1 million

When in doubt about the location and basic information for a trading platform, it’s probably best not to pour money into it.

About 1,000 investors in mainland China lost the equivalent of $4.1 million when the Chinese bitcoin exchange GBL shut down on Oct. 26, highlighted in a post by CoinDesk. The disappearance came amid broad-based suspicions about the authenticity of the site, according to reports, which flagged a lack of contact information, a failure to procure a financial-services license and questions about the company’s location.

Bitcoin experts have attributed the slew of record bitcoin highs in part to the rise in Chinese demand. The Chinese bitcoin exchange BTC China has taken over as the most heavily traded and the Chinese yuan makes up roughly 50% of international exchange volume, according to Greg Schvey, head of research at the Genesis Block, a bitcoin research firm. Read: The next 10 investment bubbles

One bitcoin recently bought $384.00 on the trading exchange Mt. Gox, with prices poised for a run on $400.

The bigger takeaway from this incident is that the disappearance of a bitcoin exchange is quite common, according to research highlighted by WantChinaTimes.com. Of the 40 trading platforms created in the past three years, 18 have closed and 13 of those closed exchanges didn’t give a warning before shuttering operations, research from Southern Methodist University and Carnegie Mellon University professors showed.

The U.S. Senate Committee on Homeland Security and  Governmental Affairs is scheduled to hold a hearing on virtual currencies on Nov. 18. “Witnesses will testify about the challenges faced by law enforcement and regulatory agencies in dealing with virtual currencies, like bitcoin. The hearing will also provide a perspective from non-governmental entities who can discuss the promises of virtual currency for the American and global economies,” the press release said.

The True Adonis

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Re: bitcoin becoming legit currency
« Reply #62 on: November 17, 2013, 10:27:27 AM »
I called the Ferrari dealership and asked how many Bitcoins is a 458 Spider and they just hung up the phone on me.  :-\

MAXX

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Re: bitcoin becoming legit currency
« Reply #63 on: November 17, 2013, 10:40:59 AM »
unstable currency...

used mostly for black market, money laundry and shady stuff....

Ganuvanx

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Re: bitcoin becoming legit currency
« Reply #64 on: November 17, 2013, 11:15:57 AM »
Takeaway.com, one of the world’s largest food-ordering websites that specializes in online food ordering and home delivery now accepts bitcoin:
http://www.coindesk.com/netherlands-food-delivery-network-bitcoin/


Subway sandwich shop in Russia now accepting bitcoin payments:
http://www.coindesk.com/subway-sandwich-russia-bitcoin-payments/


This is just the beginning. Wouldn't have been nice to buy Apple stock when it was a few dollars? I'm surprised at the amount of computer savvy dudes here don't see the why its inevitable bitcoin succeeds.

Don't store your bitcoins on any exchange as the people who lost their bitcoins in China did. It's a currency just like any other fiat currency that can be traded. Unlike fiat currencies, it will find free market value. That value is considerably higher than the current price. If you invested in bitcoin when this thread was started you'd already be up 20% in your investment. Bitcoin broke through $500 today. I don't know of any other investment that performed that well in the past week. There is a limited number of bitcoins that can't be printed to oblivion like every other fiat currency can and will be. That puts considerable value on each bitcoin. Bitcoin will appear unstable until market value is found. It might even suffer pull-backs but estimates put that value above $10000 per coin.

Lord Chronos

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Re: bitcoin becoming legit currency
« Reply #65 on: November 17, 2013, 11:50:42 AM »


bodybuilders are predominantly negative people, with a denialist mentality, steroids don't do me any harm bla,bla,bla

syntaxmachine

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Re: bitcoin becoming legit currency
« Reply #66 on: November 17, 2013, 11:54:26 AM »
unstable currency...

used mostly for black market, money laundry and shady stuff....

Laundromats are accepting bitcoins now?

The True Adonis

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Re: bitcoin becoming legit currency
« Reply #67 on: November 17, 2013, 12:07:19 PM »
Laundromats are accepting bitcoins now?
Its in the black market now so you can rest assured that the currency is backed by fried chicken and purple drank.  

The True Adonis

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Re: bitcoin becoming legit currency
« Reply #68 on: November 17, 2013, 12:09:21 PM »

bodybuilders are predominantly negative people, with a denialist mentality, steroids don't do me any harm bla,bla,bla
I would say that they are the opposite.  They are overly positive people with a delusional mentality, steroids will make me Mr. Olympia and they will only enhance their naturally genetically freaky status.


galeniko

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Re: bitcoin becoming legit currency
« Reply #69 on: November 17, 2013, 12:10:01 PM »
and who runs the system, the sytem itself.

hows it ensure dto keep running.

n

syntaxmachine

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Re: bitcoin becoming legit currency
« Reply #70 on: November 17, 2013, 12:28:40 PM »
Its in the black market now so you can rest assured that the currency is backed by fried chicken and purple drank.  

My friend, I'm hearing through the grapevine that the renowned Vincent Goodcum Enterprises, LTD. is putting its weight behind the coin. This will send waves through the markets.

Lord Chronos

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Re: bitcoin becoming legit currency
« Reply #71 on: November 17, 2013, 12:29:03 PM »
I would say that they are the opposite.  They are overly positive people with a delusional mentality, steroids will make me Mr. Olympia and they will only enhance their naturally genetically freaky status.



It was a generalisation but the positive ones tend to be stupid/low IQ in my observations. Amongst the masses ,bodybuilding often attracts those with inferior physical genetics, who wish to train to compensate for the inferior hand they have been dealt. Men who have a good natural build often don't go into bodybuilding as they never felt the need to build their physique further than what they were born with.

Ganuvanx

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Re: bitcoin becoming legit currency
« Reply #72 on: November 17, 2013, 12:54:24 PM »
Here is a good site with slider buttons used for calculating potential value per bitcoin based on percentage of world economy/percentage bitcoins used for transactions:

http://www.btcglobe.com/tool/calculate-future

"If you believe in Bitcoin, and have a belief it can be used in 0.05-1% of all transactions in the world, it will have a HUGE value. As an investment alone, this is a smart choice. This is why you should buy Bitcoins. Yes, they're not that cheap anymore, but compared to the future value, it's probably one of the best investments you can ever make."

The True Adonis

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Re: bitcoin becoming legit currency
« Reply #73 on: November 17, 2013, 02:13:16 PM »
Here is a good site with slider buttons used for calculating potential value per bitcoin based on percentage of world economy/percentage bitcoins used for transactions:

http://www.btcglobe.com/tool/calculate-future

"If you believe in Bitcoin, and have a belief it can be used in 0.05-1% of all transactions in the world, it will have a HUGE value. As an investment alone, this is a smart choice. This is why you should buy Bitcoins. Yes, they're not that cheap anymore, but compared to the future value, it's probably one of the best investments you can ever make."
I am drowning in Bitcoins over here.  I keep printing them out on printer paper.  If you want me to put some in an envelope and mail you a stack of bitcoins, let me know.  I can print us both as many as I need.  I am going to tape a bitcoin to the envelope and see if they take it.  How could they refuse, its worth like a 1000 hundred dollars.

Ganuvanx

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Re: bitcoin becoming legit currency
« Reply #74 on: November 17, 2013, 03:03:28 PM »
Quote
I am drowning in Bitcoins over here.  I keep printing them out on printer paper.  If you want me to put some in an envelope and mail you a stack of bitcoins, let me know.  I can print us both as many as I need.  I am going to tape a bitcoin to the envelope and see if they take it.  How could they refuse, its worth like a 1000 hundred dollars.

Truth be told I don’t fully support the fundamentals behind bitcoin either. I’m more a physical gold and silver supporter (real money). I’m astute enough to realize that a sufficient number of countries/computer users/anti paper currency advocates/investors/businesses believe in bitcoin enough to send the value of a single bitcoin to the moon. In the time it took me to write this it went up another $20.