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

[jr]

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.

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.

[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!

[jr]

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

With bitcoin, as long as the bitcoin blockchain exists, bitcoin exist, so don't need to be insured. Right now there are many thousands of copies of the blockchain distributed all around the world.

[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.

[jr]

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

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.

[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.

[jr]

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.

That goes for anything really. Things only have value because a bunch of people believe they do.

[jr]

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.

LUL

[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.

[Simple Simon]

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.

and how much did you invest and how much is it worth now?

[calfzilla]

and how much did you invest and how much is it worth now?

Enough to live life on his own terms 

[MAXX]

Bitcoin is high because it's the only alternative currency for black market/tax evasion right now.

Once another(or more)  alternative free currencies becomes viable bitcoin will plunge.

This can happen any time. I'd say sell now...

[muscleman-2017]

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.

you do realize your analogy also applies exactly to USD fiat right.....

in fact btc is more UNIQUE than fiat money, and has a CAP on how much can be produced...  (unlike USD fiat)

[Simple Simon]

you do realize your analogy also applies exactly to USD fiat right.....

in fact btc is more UNIQUE than fiat money, and has a CAP on how much can be produced...  (unlike USD fiat)

yet without USD bitcoin is totally worthless.

Try and put a value on Bitcoin without referring to currency.

[Evo]

Can bitcoin be cashed out in gold/silver/platinum...

Pure gold no currency?

[Simple Simon]

Can bitcoin be cashed out in gold/silver/platinum...

Pure gold no currency?

Yes, but currency gives Gold and bitcoin their value and as such currency is the catalyst

[manuelsonn]

 .

[muscleman-2017]

Yes, but currency gives Gold and bitcoin their value and as such currency is the catalyst

Currency DOES NOT give gold it's value.  Currency is simply a way to purchase gold.

Similar with btc.

[Evo]

Yes, but currency gives Gold and bitcoin their value and as such currency is the catalyst

Gold's value transcends currency.

I mean if it all goes tits up globally, the ones with gold will hold the 'wealth'...

Could bit coins be cashed directly for gold then they are safe? 

If you have to go bitcon >>> currency >>> gold then as a currency is involved it's fragile.

[Simple Simon]

Gold's value transcends currency.

I mean if it all goes tits up globally, the ones with gold will hold the 'wealth'...

Could bit coins be cashed directly for gold then they are safe? 

If you have to go bitcon >>> currency >>> gold then as a currency is involved it's fragile.

as long as they can convince enough people it has value.

How much do you think Gold will be worth in a post nuclear environment?
Im pretty sure clean water and food will hold far more value.