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

[Simple Simon]

Bitcoin is independent from the government. So if government fails, bitcoin is still good, and no need to exchange when traveling.
plus you can also carry money in your mind. By memorizing 16 words. You won't get hack if you have a decent hardware wallet.

Cash, Gold, Bitcoin only have value if people decide it has value.

So , if government fails as the monetary system is fucked, bitcoins value are valued in dollars, without dollars to base it on how much is a bit coin worth.

Its exactly the same with Gold, Gold is valued at $x per ounce, so without the dollar Gold is worth what?

[Mr Anabolic]

Cash and gold can be stolen, or confiscated by the government.

Bitcoins can't be stolen unless they have your private keys.

That comparison chart is a joke.  The bitcoin devotee who made that chart knows NOTHING about gold.  Gold beats bitcoin in every way.

[sculpture]

What a load of bollocks that chart is.

[Mr Anabolic]

You people that see less counterparty risk in BTC compared to metals in your hand make me laugh. Metal may be dead money right now but you are blinded by gains in this vaporware. They can't steal something that doesn't exist, correct....they can fee and tax it along with just making it illegal.

And before you start with the "you don't understand tech" or "my paper wallet" etc just know it only exists at this level because they are allowing it. It is the open door to perfected fiat, one world currency...the ultimate trade of things of value and labor for nothing...which is the way of all banking.

This is what I've been saying all along.  

Bitcoin devotees always revert to the "you don't understand it" line.  Yes, I DO understand it perfectly, this is why I would never buy it.  

Regarding gold and silver:  Silver has much more upside potential at it's current price.  I own lots of both.

[gib]

Why on earth would you buy gold or silver?

People who used to buy gold are selling and buying bitcoins.

Right now it's just half a percent. Soon it will be one, then 5, then 10. It's happening. And you will jump on board sooner or later.

[Mr Anabolic]

Why on earth would you buy gold or silver?

People who used to buy gold are selling and buying bitcoins.

Right now it's just half a percent. Soon it will be one, then 5, then 10. It's happening. And you will jump on board sooner or later.

Your posts here have demonstrated a total ignorance for real value, market cycles and asset bubbles.

Good luck anyway.

[Evo]

Why on earth would you buy gold or silver?

Oh dear god...

Did you seriously...

[Mr Anabolic]

Oh dear god...

Did you seriously...

He's a contrary indicator... just like the stinky raghead taxi driver recommending my friend to buy bitcoins two weeks ago.

Me thinks $5000 was THE top.  Let's see if I'm right.

[SOMEPARTS]

He's a contrary indicator... just like the stinky raghead taxi driver recommending my friend to buy bitcoins two weeks ago.

Me thinks $5000 was THE top.  Let's see if I'm right.

I don't know what the top is going to be. It could go much higher if outflows from Asia continue. A lot of that is hot money though looking for anything outside of the system. Eventually that money has to become "real" again...otherwise it just hypes the price. There is zero reason to believe in BTC any more that the dollar. At least the dollar is defended by military might, the fed and accepted everywhere. The dollar will die, but slowly - and certainly I'm not saying I'm a fan of the current system. If BTC continues to gain market cap great....but they WILL tax your gains in dollars, start capital controls and you will be paying fees/taxes trying to cash out somewhere at some point. There is too much volatility for normal businesses and payment formats to adopt cryptos as a funding source.

People out there saying the stock market sucks because it lacks fundamentals...then they invest in BTC. Jesus. The more money that flows into BTC the more I buy acreage and other tangibles. I don't need gains to pay my bills(or brag about), I'm looking for capital preservation.

[tres_taco_combo]

its down $800 in the last 2 days

chinese gov is not happy with it

[Mr Anabolic]

I don't know what the top is going to be. It could go much higher if outflows from Asia continue. A lot of that is hot money though looking for anything outside of the system. Eventually that money has to become "real" again...otherwise it just hypes the price. There is zero reason to believe in BTC any more that the dollar. At least the dollar is defended by military might, the fed and accepted everywhere. The dollar will die, but slowly - and certainly I'm not saying I'm a fan of the current system. If BTC continues to gain market cap great....but they WILL tax your gains in dollars, start capital controls and you will be paying fees/taxes trying to cash out somewhere at some point. There is too much volatility for normal businesses and payment formats to adopt cryptos as a funding source.

People out there saying the stock market sucks because it lacks fundamentals...then they invest in BTC. Jesus. The more money that flows into BTC the more I buy acreage and other tangibles. I don't need gains to pay my bills(or brag about), I'm looking for capital preservation.

Crypto will only be a currency if some stability mechanisms are put in place.  Until then, speculating on penny stocks is really about the same thing.

Land/housing is good only if it is producing a positive cash flow.  Great it you already own it, but now is not the time to buy.

Right now precious metals are very, very undervalued.  They have the most capital preservation, profit potential and liquidity.  

[Shizzo]

Doesn't this just prove that they can create money whenever they want? Bitcoins are a joke. What's next, putting a value on the coins in the Super Mario Bros. games or the gold rings in Sonic The Hedgehog?

It's just like the stock market, the lottery etc... Completely controlled rackets by the rich and insiders.

[Simple Simon]

Doesn't this just prove that they can create money whenever they want? Bitcoins are a joke. What's next, putting a value on the coins in the Super Mario Bros. games or the gold rings in Sonic The Hedgehog?

It's just like the stock market, the lottery etc... Completely controlled rackets by the rich and insiders.

Correct, if they suddenly decided Pokemon characters had monetary value then they would have.

No matter what they establish as a standard, without the ability to exchange it for cash its useless.
Cash has value, not Gold.
Try buying a car with a bar of Gold...

[TheGrinch]

power goes out.... EMF attack... SHTF......

How you gunna use your online bit coins to pay fo' stuff?

[Shizzo]

The fact is bitcoins have value and the coins in Super Mario Bros. games don't. Probably because  Super Mario Bros coins have no utility.

Bitcoin and blockchain technology reminds me when I first started using the internet in the mid nineties (and BBS in 1990). Many people didn't know anything about the internet and many of those who did thought it was for nerds and geeks and didn't see the future potential.

So if you have to use real money to purchase Bitcoins, then how is that any different from buying stock? I'm sorry, but we are not at the point where some imaginary online money, trumps actual, physical money in hand.

[Simple Simon]

So if you have to use real money to purchase Bitcoins, then how is that any different from buying stock? I'm sorry, but we are not at the point where some imaginary online money, trumps actual, physical money in hand.

for Bitcoins to have value they would be have to be exchanged for cash wouldn't they, alone they have no value, only a monetary value.

[Shizzo]

What if you use US dollars to buy Euro, is that like buying stock?

Most people don't have physical money in hand, most of it their money is stored "online" in an "imaginary" way in a private banks accounting system computer hard drives as digital bits.

Yes, but unless the world enters into utter chaos, my digital money is FDIC insured. Do Bitcoins offer such insurance?

[manuelsonn]

Fagcoin is worse than a ponzi dvheme. Beware!

[El Diablo Blanco]

Bullshit. Gov can just go after the exchanges. Look at how many lost out with mtgox exchange getting robbed. 

Cash and gold can be stolen, or confiscated by the government.

Bitcoins can't be stolen unless they have your private keys.

[gib]

Bullshit. Gov can just go after the exchanges. Look at how many lost out with mtgox exchange getting robbed. 

You don't keep your coins on exchanges. Rather you take them offline and store them in cyberspace.

Yes, exchanges, just like banks are vulnerable to theft, and bankruptcy.

[SOMEPARTS]

Don't you see? You take your fake money, invented by a fake character and put it in a fake place? Why don't you guys get how great this is? 

[SOMEPARTS]

Crypto will only be a currency if some stability mechanisms are put in place.  Until then, speculating on penny stocks is really about the same thing.

Land/housing is good only if it is producing a positive cash flow.  Great it you already own it, but now is not the time to buy.

Right now precious metals are very, very undervalued.  They have the most capital preservation, profit potential and liquidity.  

I own metals as insurance but again, they are not everything. Silver at $15-17 fine, gold at $1300+ I would not call cheap unless you listen to Peter Schiff everyday. If you think metals going sideways is a better buy than land since 2011 I disagree. Geography dictates land value, but where I am acreage 1-2 hours from a major metro is being bought like crazy for hunting/bugout cabins.

[Simple Simon]

Bitcoins can't be stolen if the robbers don't have the private keys.

People who lost their coins at mtgox didn't have the private keys to their account, the exchange did, so obviously vulnerable to hacking and theft. Bad luck to them for not moving their coins into their own wallet where they have control of the private key.

lol, its not the coins themselves that have value its the peoples belief in the coins, it doesn't matter if the coins themselves don't even exist.

You could replace Bitcoins with Bogies for all the difference it makes.

[Vince B]

It is a pity that Goodrum posted about bitcoins years ago. Everyone laughed and didn't take that currency seriously.

At the moment there are other crypto-currencies that are profitable. Coin space for example. I know a person who

was into them 2 years ago and now things are different and there is much money to be made. I am still waiting for the

launch. Until that happens it is more or less a scheme that works as long as new investors keep buying.

[Matt]

It is a pity that Goodrum posted about bitcoins years ago. Everyone laughed and didn't take that currency seriously.

At the moment there are other crypto-currencies that are profitable. Coin space for example. I know a person who

was into them 2 years ago and now things are different and there is much money to be made. I am still waiting for the

launch. Until that happens it is more or less a scheme that works as long as new investors keep buying.

Goodrum was right, although I don't know if he informed the board how much he invested in Bitcoin.

Food for thought: an investment of $18,000 in Ethereum in July of 2016 is worth a million dollars today. 

All last summer I told everyone to invest in Ethereum.  Did anyone listen?  I seem to doubt it.