Bitcoin; anybody know anything? Use it?

Smoke and mirrors. Somesones gonna get rich, but probalby not the person with the most bitcoins.

Anybody ask Warren Buffet his opinion?

Are people with large quantities of bit coins called Bitiots?

Should they be?
 
In the last day at least two different things happened. BOA, I think it was, came out with a valuation and a target. Both were just about where it was sitting at the time. The other thing was China suddenly outlawed it for purchases of real items. There was speculation that they would since they did it before with a different virtual currency. Most of it is owned in China. Alan Greenspan called it a bubble at some point too.
 
Hit a record of $5000 in the last couple of days. $1000 when this thread died it'd be worth $5000 now. I happened to notice in the middle of 2015 that it was around three hundred. Was going to buy it using paypal but was not interested enough to scratch my head over how to do it more than a few minutes. I wish I had :) Also with I'd bought totally unsexy Apple around the year 2000 for a 75x gain today.
 
theres a gold coast (qld..aust) mansion just gone on sale for 500 bit coins .. equivalent to 6.5 million aust $ , first time in oz history house offered for sale in bitcoins
 
Surpassed $10,000 today. Would have doubled your money if you'd bought just a couple of days ago when I posted. I say goin to 20 next week.
 
One EMP and your bitcoins ain't there no more.
Gold. Not certificates, but the real stuff. Just make sure nobody knows where you hid it.
 
^One EMP and ain't nothin nowhere. What use is gold going to be? Pencils and paper will be the hot commodity.
 
I always thought Bitcoin was the dumbest idea ever until I started hearing it being talked about seriously in June of this year on NPR. So, I started buying it. Just $100, and just for fun. Hedged my cybercurrency bets by also buying Litecoin and Ethereum, $100 each. Thought that if I loose $300 it's not going to kill me.
They did so well, that three months later I made subsequent purchases of all three, but mostly Litecoin. I now have a little over $1,000 invested, with a value of over $3,000.
If I had invested evenly among the three I would have done way better because of Bitcoin's ascendancy.
When I made my first purchase of Litecoin in June it was $40. It is now $100. My first purchase of Ethereum was at $270. It is now $460. My first purchase of Bitcoin has grown by 600%.
 
Yup - it sure has gone up very quickly. My issue is that I simply do not understand the concept and my Dad always taught me to not invest in something which I do not understand.

That certainly isn't to say that it is a bad thing or not a wise investment - just not for me right now.
 
I'll also mention that I have about 15K invested in gold and silver, the actual metals, in the form of U.S. Mint one-ounce bouillon coins. I bought most of them with the settlement got from my motorcycle accident. In two years, that investment has been absolutely flat. But, I absolutely believe that it WILL have value after the EMP or whatever other apocalypse happens.

I don't understand cybercurrency either, but I do know that every time it gets mentioned on NPR if gains a little more legitimacy and a lot more new investors. That has been my investment strategy -- every time I hear it mentioned on NPR I buy more.
 
I heard BC moves up on any news at all... Also heard it is the best CC investment because it leads the rest,

How do you liquidate the physical metals? In my experience you have to pay retail for gold and sell it at wholesale, like jewelry. My prepping would be food, fuel, and ammunition :)

What kind of accident did you have? Are you doing okay?
 
Right now, it costs about $40 over spot to buy a one-ounce gold eagle. Ten years ago I sold a lot of Krugerrands. I sold them all on Craigslist at the spot gold price at the actual time of the sales. They were very easy to sell because the buyers were saving $40 per coin over a broker, and they got them immediately.

Here is the link to my accident thread:
http://www.xs650.com/threads/20-stitches-removed-from-my-leg-yesterday.43253/
Completely recovered except for scars.
 
One time when we were going somewhere you scared the crap out of me by not looking over your shoulder before you changed lanes, and a pickup was barreling down that lane. He was alert enough to slow down but I was panicking and blowing my horn at him from the next lane over :D I saw several wrecks in Austin, and at no time did anyone stop if the car was still able to go. One time there was a wreck at that intersection a block to the right of where I was living and I got about four lanes of traffic stopped and helped the girl out of the car over to the sidewalk and called an ambulance. She looked like she had a tennis ball stuck to her forehead. Didn't know that kind of injury was possible.
 
one trouble is the wallets .. ie cyber banks, they aren't all that secure , or rather they werent in the past, try googling bitcoin robberys .. theres been a lot of robberys of millions of dollars with no refunds through insurance , also what goes up fast can / will drop as fast .. be carefull... plus look into the surcharges when you use the coins , can be very exie
 
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Hi All:

This thread is a bit old but I ran across an article today in the Toronto Globe & Mail newspaper which is a pretty responsible outfit which usually has some pretty thorough research behind whatever they publish. They have a guy who has a column on personal finance - Jim Carrick - and he’s really sharp plus he puts things in a way that even I can understand. I gave a speech at a conference where he was also speaking and I had a couple of meals with him. He really impressed me as a bright and forthright person.

Today he referred to an article by Consumer Reports which gives some thoughts on why Bitcoin is not a good investment. Here is a linky to it.

https://www.consumerreports.org/cry...ital-currencies-like-bitcoin-is-so-dangerous/

I read the article and found it very credible. I agree with Freds statement above and still haven’t changed my view that Bitcoin is not a wise investment for most people and so I’m staying out.

Pete
 
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I wouldn't be interested at the moment. But in context, reading through this you see I wanted to buy it at around $300 but in the end couldn't be bothered, then was expecting it to find a ceiling around $20,000, which it did. So I would have done okay with it. To say the least. Beware that the article you linked to includes warnings like you might forget your password... Personally I wouldn't buy it at the moment but not for that reason :) I don't know where it's going, but before it was obvious that it was going up.
 

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