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

[El Diablo Blanco]

My point is the IRS found out about the transaction and sent him a "pay us our money or else" letter. 

Anyone who wants to buy a bunch of digital cyberspace electrons for $5000 a piece because you think it's going to $1 mil USD... please, be my guest. 

Stocks, bonds, and cryptos are in a huge bubble.  Real estate too.  However, they can (and probably will) go even higher.  The madness and delusions of crowds are quite an interesting thing to observe.  Things are bit different today... it's mostly computers running the stock market.  That might make the collapse even worse.

Lol at bitcoin going to millions.  The total value of all bitcoins right now is $75 billion.  Anyone who thinks it will be worth more than the entire worlds currencies is nuts.

Also the gov has fuck all to do with this.  The gov has nothing to do with money.  Learn about the Federal Reserve then you'll realize how fucking evil money is.

[Mr Anabolic]

Lol at bitcoin going to millions.  The total value of all bitcoins right now is $75 billion.  Anyone who thinks it will be worth more than the entire worlds currencies is nuts.

Also the gov has fuck all to do with this.  The gov has nothing to do with money.  Learn about the Federal Reserve then you'll realize how fucking evil money is.

I know all about the Fed reserve.  The US dollar will be dead in a few years... totally worthless.

Ben Bernanke recently gave a speech about benefits of bitcoin and cryptos/tokens.  What government/central bank would let some outside fiat currency instrument compete with their own fiat currency?  Answer... they wouldn't, unless they created it.  

About 10 years ago the feds arrested and threw someone in jail for making a Ron Paul coin that had a $1 dollar value on it.  

Goldman Sachs is now promoting and investing it in.  There are crypto/token ETF's coming.  

If the government is not behind it, they are certainly allowing and/or adopting it.  

The main goal is to take away the anonymity of physical cash so they can trace, track and tax everything.  

The end game is complete control.  

Say/do something subversive or negative about the government or a politician, they'll simply turn off your account access with a flick of a switch.

[gib]

Seriously. The had a huge drop.  What's running them up?

North Korea buying. And china buying big time.

[Notomorrow]

As with all investments...

People with real money start buying frantically

They drive the price up...then recommend poor people invest to get rich like them

They monitor the price until they've made enough money then start dumping it...leaving the poor to take the losses

You didn't learn from losing all that money on the sure fire get rich dot coms a few years back?

[El Diablo Blanco]

The fact bitcoin is in the news now means you missed your chance.  Like any stock, you never heard about it during the run up, then when it reaches a high the news covers it, all of the sheep jump in while the wolves sell and it crashes and the cycle continues.

[Grape Ape]

Mr. Anabolic.

I fully enjoy all of your financial posts.   Generally spot on, in my opinion.   Actually looking at fucking around with some silver.

But back to topic:  I think, eventually, a universal cybercurrency is inevitable.

Do you agree, and is this it?

[jude2]

It dropped 20% today.

[jude2]

That is not the coin just the trust.  BUt that bitcoin trust is up over 600% this yr which is more than the actual coin.

[gmflex]

What is the safest and easiest way to buy bitcoins?

[Rearden Metal]

Lol at bitcoin going to millions.  The total value of all bitcoins right now is $75 billion.  Anyone who thinks it will be worth more than the entire worlds currencies is nuts.

Also the gov has fuck all to do with this.  The gov has nothing to do with money.  Learn about the Federal Reserve then you'll realize how fucking evil money is.

You have no concept of what blockchain is. This is not a stock market.

[jude2]

What is the safest and easiest way to buy bitcoins?

You can buy the bitcoins trust on the stock market. It is up 600% this year and pulled back 20% today.

[muscleman-2017]

It's gonna go MUCH HIGHER.

Mark my words you ignorant naysayers.

[Mr Anabolic]

Mr. Anabolic.

I fully enjoy all of your financial posts.   Generally spot on, in my opinion.   Actually looking at fucking around with some silver.

But back to topic:  I think, eventually, a universal cybercurrency is inevitable.

Do you agree, and is this it?

Yes, it is inevitable.  The US dollar is almost kaput.  Bitcoin is simply a beta test for what the government has already planned.  

Again, the abolishment of physical cash is not something anyone here should wish for... this will make anonymity a thing of the past.  The government will now be able to track everything you do and tax you at will.  Forget about getting paid "under the table"... that won't exist anymore.  

Is bitcoin going to be THE cyber-currency?  Possibly.  IMO, the feds will come up with some 'official' US crypto coin instead.  They also would have to implement control systems in order to keep the price stable.

[gib]

It's gonna go MUCH HIGHER.

Mark my words you ignorant naysayers.

Could easily get to 10k per coin by year end. We are far from the point where he average man in the street is buying. It's still really geeks and bankers (and a few getbiggers). But just imagine when this goes mainstream.

[HTexan]

What is the safest and easiest way to buy bitcoins?

Define safe? Non-trackable or trying not to get scammed?

[TheGrinch]

Can you still mine bitcoins or has that time come and gone??

[muscleman-2017]

Can you still mine bitcoins or has that time come and gone??

Not profitable to mine them any more for average person (electricity costs outweigh benefits).

[tres_taco_combo]

thoughts on ripple XRP?

[HTexan]

Can you still mine bitcoins or has that time come and gone??

you can, ether or litecoin would be better.

[El Diablo Blanco]

Could easily get to 10k per coin by year end. We are far from the point where he average man in the street is buying. It's still really geeks and bankers (and a few getbiggers). But just imagine when this goes mainstream.

The average man would have bought at $400, the average man doesn't have $5K to drop on 1 bitcoin

[f450]

At this point, I dont get it. The attraction to bitcoin was the anonymity, and the ability to keep the government out of your private business.

If that is no longer the case, Then what exactly is the draw? Apart from making it infinitely easier for the government or other nefarious agents to track and /or empty your wallet.

I'd rather have cash. or gold.

[HTexan]

At this point, I dont get it. The attraction to bitcoin was the anonymity, and the ability to keep the government out of your private business.

If that is no longer the case, Then what exactly is the draw? Apart from making it infinitely easier for the government or other nefarious agents to track and /or empty your wallet.

I'd rather have cash. or gold.

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.

[polychronopolous]

Any of you bros use this Goldmoney debit card that Peter Schiff talks about in his latest Rogan interview?

[SOMEPARTS]

Bitcoins can't be stolen unless they have private keys control over the entire internet, programs to map all BTC transactions and taxation sytems in place to tax any gains.

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.

[calfzilla]

People make fun but Vince Goodrum was right and way ahead of everyone. It was what, over a year ago he made his famous bitcoin thread. If we listened to Vince we would all be rich now.