Bitcoins - about to hit $5,000 per coin today!

[Mr Anabolic]

Goldman and the such will buy quietly.  They'll bash bitcoin to keep the price low so they can accumulate a huge amount.  It's anonymous right?  So no one will know.  Then all of a sudden they'll set hysteria around it and promote it to drive up the price then dump all their coins and make a hefty return.

Sheep don't realize this but Goldman Sachs is solely responsible for oil prices being this high.  Oil was trading low and getting gas was in the $1.50 range per gallon.  The whole housing fiasco happened and the gov forced all banks to take TARP money.  Thing is GS didn't need it.  They took in about $7 billion.  dumped it into oil.  The price of oil doubled, goldman doubled their money and paid back the $7 billion in a couple weeks.  After that oil stayed high and never came down much.  Now we'are all paying $3 a gallon because of them, well mostly because of the fucking gov, but also because of them.

The central banks control everything.  The entire government and financial system is corrupt.  

[El Diablo Blanco]

from what does the value of this currency derive from , what is backing it up ?

The factor that makes bitcoin valuable is the block chain.  The ability to buy and sell anonymously.

[Mr Anabolic]

Kudos to those that bought this in the hundreds but buying now is not worth it and is too risky.  Wish I bought some when it was a lot cheaper.  Oh well.  Another failed investment that I never got into.

You can buy silver now (at that these incredibly ridiculously low prices).  

If you hold and sit tight, you will eventually be right.  

[gib]

Mr Anabolic - you strike me as a guy who is more financially sophisticated than most guys here. You have enough knowledge not to lose money, which is a vital skill. But I really feel you are not connected either with the top level bankers who have huge influence nor the tech geeks who are religious about blockchain. I can tell you I am an extremely value focused and highly successful investor. I would never buy gold and I was originally very skeptical about bit coins in the early days. This is a bubble which will keep on growing for the next few decades. Mark my words every single person who owns even a single bit coin could well be a millionaire in less than 10 years from now. Only 21 million will ever exist. Untraceable and portable and divisible without barriers, taxes or government control. It's the future man. Buy even just one coin as a hedge against what may happen. It's still very early days ...

[Mr Anabolic]

Mr Anabolic - you strike me as a guy who is more financially sophisticated than most guys here. You have enough knowledge not to lose money, which is a vital skill. But I really feel you are not connected either with the top level bankers who have huge influence nor the tech geeks who are religious about blockchain. I can tell you I am an extremely value focussed and highly successful investor. I would never buy gold and I was originally very skeptical about bit coins in the early days. This is a bubble which will keep on growing for the next few decades. Mark my words every single person who owns even a single bit coin now will be a millionaire in less than 10 years from now. Only 24 million will ever exist. Untraceable and portable and divisible without barriers, taxes or government control. It's the future man. Buy even just one coin as a hedge against what may happen. It's still very early days ...

Thanks for the compliment.  You may eventually be right someday, but still... no thanks.  If you have ever held $20-30K in gold coins in your hand before (all that fits into just one hand), you would never want your wealth/labor stored in bitcoins or any other crypto currency.  Heck, I don't even have a 401k or retirement account because I don't trust the US government and the US financial system.  

BTW, cryptos are not untraceable.  IRS will be on top of all proceeds/profits when the bitcoin millionaires finally do cash in (it happened to one of my friends already).  You have to covert it back into fiat dollars at some point... that leaves a paper trail.  

I still believe bitcoin is a beta test for an all digital currency.  If physical cash is abolished, anonymity of financial transactions is gone forever.  That is something NO ONE should want... not even hardcore bitcoin/crypto devotees.

[The Keto Kid]

Bitcoin is the shit, I invested 5k in bitcoin and in the last month it has increased 44% I've almost doubled my money, ridiculous!

[Mr Anabolic]

Bitcoin is the shit, I invested 5k in bitcoin and in the last month it has increased 44% I've almost doubled my money, ridiculous!

Good for you.  Be careful though, the hype and parabola will not last forever.  Any asset/investment that goes parabolic usually comes down 2-3x as fast.  When everyone runs for the exit door at the same time, the exchanges will most likely be overwhelmed.  It might take days to sell.  

[SOMEPARTS]

The factor that makes bitcoin valuable is the block chain.  The ability to buy and sell anonymously.

Nope.

[gib]

Agreed. It's not the blockchain which makes the bit coin valuable. Indeed if that was the case any crypto would be valuable. What makes it valuable is that it is increasingly becoming the single most trusted and desired blockchain based crypto currency. It's very important these concepts are not confused.

[Shizzo]

Agreed. It's not the blockchain which makes the bit coin valuable. Indeed if that was the case any crypto would be valuable. What makes it valuable is that it is increasingly becoming the single most trusted and desired blockchain based crypto currency. It's very important these concepts are not confused.

Beenie Babies and Pogs were valuable at one time too.

[HTexan]

Bitcoin is the shit, I invested 5k in bitcoin and in the last month it has increased 44% I've almost doubled my money, ridiculous!

Yup I got in early and cash out most of my investment recently. I made a nice profit.
I still have a little in bitcoins, litecoins, and ether.

[FitnessFrenzy]

Bitcoin is like the stock market on steroids. 20 - 30% drops in bitcoin's price are frequently happening.

[El Diablo Blanco]

Wish I got in at $300.  Lots of steroid sites take bitcoin. Would be nice to get $5k in hgh for $300

[SOMEPARTS]

Obviously new money is pouring in cryptos for now but the real question is will it be permitted to continue?

If so then you can just assume the banks will benefit from it...possibly by wiping out old debt in exchange fuckery to pivot out of the dollar and into a world money.

[HTexan]

Wish I got in at $300.  Lots of steroid sites take bitcoin. Would be nice to get $5k in hgh for $300

I got into bitcoins early, but didn’t buy much until the price was higher. The best stock investment I ever made was buying apple stocks right before the iTunes Store launched. I sold way too early becuase I need liquid for a business venture. Wish I held on to them.

[The Keto Kid]

Increase of 800% since last year, wtf??

[Marty Champions]

lol u guys are bafoons

get into real estate
 
no one has made shit at bitcoin

how many coins out of 24 million have been created yet, how do u really know

[NelsonMuntz]

the guy who is brock in this vid runs bitcoin now.

[DooM_]

Increase of 800% since last year, wtf??

Ponzi scheme like growth , except it's not , incredible !

[gib]

Bit coins are really an all or nothing zero sum bet. Either they will eventually play a very significant role in the economy, or they will be worthless. Long term there really is no in between.

For this reason it's well worth a million or more to at least by one coin. It's a hedge against what may happen in the future. There are millions of millionaires in the world and only will there ever be 21 million bit coins ever mined. If you buy even one now it seriously could be worth a million within 10 years based on current adoption. How many getbiggers will have one in ten years and how many will be reading this and be thinking "damn, if only I had bought when I had the chance?" 

To me is very very obvious that we will see huge amounts of money from Japan, Korea, China, Russia and many other countries being invested over the coming years.

[Ted SuperSet]

Waiting voor Vince's input o this before investing....


Vince what is your take on the current cryptocurrency market?

[NelsonMuntz]

Waiting voor Vince's input o this before investing....


Vince what is your take on the current cryptocurrency market?

waiting for people to comment on the fact that one of the company's principles was involved in a past hollywood pedo ring and former business/stock scams.

some of you guys who have invested in this may make money but most will be bitching/relieved when this shit fucks people over eventually

[DooM_]

I guess this is that moment where everyone starts buying . . .

[Mr Anabolic]

waiting for people to comment on the fact that one of the company's principles was involved in a past hollywood pedo ring and former business/stock scams.

some of you guys who have invested in this may make money but most will be bitching/relieved when this shit fucks people over eventually

The last ones in always get caught flat-footed and lose the most money.  As long as the "buy the dip" mentality is in place, the trend will continue upwards.  There is also the "greater fool" theory at work.  At some point the "buy the dip" crowd will not be able to overcome the sellers.  As the price drops precipitously, everyone will run for the exit at the same time.  That's when it will end. 

[Ted SuperSet]

I guess this is that moment where everyone starts buying . . .

Jep