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Accepting Bitcoin

Vigilante

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this is nothing more than a way to rationalize your argument. In reality it is not true. Unless you consider Peter Thiel, Richard Branson, Sean Parker, Cameron and Tyler Winklevoss, Marc Andreessen, and several other hugely successful entrepreneurs and investors scallywags.

“If enough people see the Segway machine you won’t have to convince them to architect cities around it. It’ll just happen.” — Steve Jobs

Jeff Bezos invests in personal space travel.
http://articles.latimes.com/2012/apr/07/business/la-fi-bezos-20120407

Mark Cuban Invests in "I Want To Draw A Cat For You"


The point being just because billionaires have tens of millions to piss away on purely speculative ventures doesn't mean that it's been vetted. In fact, it's likely the opposite. They don't give a shit if the few million they put in vaporizes. They likely have investments in 2,000 speculative plays. That's no reason for Billy to put his money in BitCoin... when YOU don't. You get it and flip it like a hot potato. If I cared enough, I could go get you a stable of experts that point out what a ponzi scheme looks like. However, it's not going to change your mind anyway. So... enjoy!
 
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MJ DeMarco

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Well there's total carnage in the currency markets today since the Swiss decided to cut the cap against the Euro. I've never seen moves like this in central bank currency which is somewhat frightening. Meanwhile BitCoin fanboys are jumping up and down as their currency rebounds 20% -- although a currency that's worth $800/per one year, and $177/per the next, is really not something that I want to be in, nor do I view as stable. It's great it has "no fees" but what good is that if an week hold costs you 15% in movement.
 

Avus

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I've had people donate via bitcoin for the project in my sig. Nothing recently though...

It is a good way to separate yourself from everyone else.
 
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dave773

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Anyone else in bitcoin?

Well..it has been going a bit spastic lately. I bought back in at $700 about a month ago... then two days later it went to $900.. Now it's at $1100! It seems like China has been pushing up the price a lot. Also a month or so ago KimDotCom (creator of megaupload) posted on twitter that bitcoin will be $2000 in 2017. I also think that Trump elected as president has had some sort of effect.

Although I think the price is going to continue going up this year. I just put in my sell order (maybe sold too early). Might buy back in if it fluctuates.. I think it will either pump above $1100, drop to $900 or stay at around $1100 over the next week.
 

Vigilante

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The SEC is looking at a formal approval of a fund, with a decision due by June. I think that is what might be driving the price. If it is approved, people will be able to buy it through their normal brokerages, and then it likely WILL hit $2k or more if the average Joe can now buy it through normal channels.
 
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dave773

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Ah I did not know this. The price has increased by over $100 in 24hrs so I thought this might be another small pump/dump where I could rebuy in the $900's or $1000's a day from now and double the gains but based on your post maybe it won't. Managed to sell at $1140 so I can buy back in still but I'm going to wait and see what happens over the next two days.

I mostly just go off what i think other people are thinking on whether to buy or not and whether to sell as most of the news surrounding bitcoin is either useless or bullshit.
 
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MidwestLandlord

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The SEC is looking at a formal approval of a fund, with a decision due by June. I think that is what might be driving the price. If it is approved, people will be able to buy it through their normal brokerages, and then it likely WILL hit $2k or more if the average Joe can now buy it through normal channels.

I think there is already approved funds in the UK for bitcoin.

So, in the US, the average Joe can finally jump on the bitcoin bandwagon (assuming SEC approval of the ETF) while the brokerage firms continue on the fastlane with this "new product" they can collect transaction fees on?

Nice.

It'll be interesting to see what kind of volatility that brings to bitcoin with it being subject to the ebb and flow of the investor herd mentality.

The Winklevoss brothers are speeding up SEC approval for their bitcoin fund
 

Vigilante

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miked_d

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I thought about this thread as I watched the price drop yesterday.

Crash or correction?

market-price.png
 

dave773

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I was out , but i bought back in a bit too early. If i waited 6hrs would have hit the dip perfectly..bit disappointed i didnt go with my own prediction and bought back in at $1k.

Definitely a crash.. when the price drops that much it gets kind of scary as you begin to doubt what the real bottom price will be. It's possible the price could crash even further but i think it will rise back up to $1k over the week and that will be the price correction.

At the end of the day though, bitcoin is just a hyped up currency that is never going to make you rich.
 
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GlobalWealth

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I thought about this thread as I watched the price drop yesterday.

Crash or correction?

market-price.png
Hard to say at this point. The chart looks like a correction, not a crash. But let's wait a few days to see the trend.

Sent from my SM-G900FD using Tapatalk
 
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dave773

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I'm not sure if this is possible but I just thought of this..

What if the big banks in the world got together and created their own digital currency. Something that is indexed to for e.g. the USD and allows mainstream usage of transferring funds worldwide. Right now it isn't in their interest because they still make a killing with overseas transfers.

But if digital currency or startups targeting this problem became a serious threat. Is this possible / will it happen?
 

miked_d

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I'm not sure if this is possible but I just thought of this..

What if the big banks in the world got together and created their own digital currency. Something that is indexed to for e.g. the USD and allows mainstream usage of transferring funds worldwide. Right now it isn't in their interest because they still make a killing with overseas transfers.

But if digital currency or startups targeting this problem became a serious threat. Is this possible / will it happen?

Since anyone can make their own digital currency (there are hundreds) it is possible. Not probable due to risks.
 

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