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

[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?

[jr]

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.

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

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

[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.

[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.  

[jr]

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

Don't you have to store gold somewhere?

Where do you keep it? In an ETF? A bank vault? Do they really have your gold?

At home? What happens if you get robbed? Do you bury it in your back yard lol?

Bitcoin doesn't have this flaw.

How do you move gold around, especially across borders?

Bitcoin doesn't have this flaw.

Gold plated tungsten? 1 oz coin or is it a 0.95 oz coin?

Bitcoin doesn't have this flaw.

Have you ever bought anything with gold directly? Bitcoin is used all the time to buy stuff.

etc...

How does gold beat bitcoin in every way?

[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.

[jr]

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.

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.

[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.

[jr]

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

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

Most people store all their cash in a bank, so the same applies to cash.

[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.