Money Bitcoin Take? - Page 11

ChiefRocka · 06:51 AM

Bitcoin disrupts gold
Ethereum disrupts financial services
There will be others...

**lewdog** · 01-03-2017, 06:02 PM

Quote:

Originally Posted by BWillie

I've made like 2 thousand dollars by not doing anything in the last few weeks. This has been fantastic.

You haven't "made" anything unless you sell it.

Hoover · 01-03-2017, 06:07 PM

The problem with the dollar is that it's not backed by anything, ie gold.

The bitcoin has the same problem.

ChiefRocka · 01-03-2017, 06:36 PM

Quote:

Originally Posted by Hoover

The problem with the dollar is that it's not backed by anything, ie gold.

The bitcoin has the same problem.

One is a ponzi scheme, but which.

**LoneWolf** · 01-03-2017, 06:58 PM

Quote:

Originally Posted by BWillie

I've made like 2 thousand dollars by not doing anything in the last few weeks. This has been fantastic.

Nope.

Quote:

Originally Posted by lewdog

You haven't "made" anything unless you sell it.

This guy gets it.

BWillie · 01-03-2017, 07:29 PM

Quote:

Originally Posted by lewdog

You haven't "made" anything unless you sell it.

Quote:

Originally Posted by LoneWolf

Nope.

I have to keep a decent amount on file to pay my gaming customers their monthly payments.

scho63 · 01-05-2017, 12:59 PM

Bitcoin plummets over 23 percent after nearing all-time high as 'volatile little bubble' bursts

Bitcoin tanked as much as 23 percent Thursday afternoon after nearing an all-time high earlier in the trading day.
The world's largest cryptocurrency by market cap traded as low as $887.47, down from the day's high of $1,153.02, according to CoinDesk data. The high for the day was just shy of $1,165.89 set on November 30, 2013. The price has recovered somewhat from the day's low to about $973.89 at the time of publication.

A stack of bitcoins stand on top of U.S. one dollar bills.
Chris Ratcliffe | Bloomberg | Getty Images
However, bitcoin beat its high on some other cryptocurrency exchanges. Whereas CoinDesk's price index takes into account many different bitcoin exchanges – individual exchanges, where users can trade bitcoin, noted their own highest prices were exceeded. Among these were one of China's biggest and most liquid exchanges, BTC China.

Industry experts said the rapid rally in bitcoin created a little bubble which is now bursting but the long-term prospects are still positive.

"Once we broke through the nominal all-time high, liquidity dried up – no shorts, no sellers, which means a volatile little bubble formed quickly," Peter Smith, chief executive of bitcoin wallet Blockchain, told CNBC by email.

"We are seeing the effects of that now. It's still fairly thin trading volume though. I expect the market will find a floor and stabilize somewhere in the $850 to $1,000 range, but we'll see."

Wild swings in bitcoin's price are not unusual and volatility is a characteristic of the virtual currency.

Yuan rise behind bitcoin fall?

CNBC recently outlined the reason behind the latest rally in bitcoin. One key reason has been the recent devaluation of the yuan as well as the threat of capital controls across many countries. The majority of bitcoin trade comes out of China so it has a big influence.

But on Thursday, the yuan rose against the dollar. The reason behind this was a sell-off in the dollar due to uncertainty around the future of U.S. Federal Reserve rate hikes, as well as state intervention by China in its currency. The rise in the yuan led to a fall in bitcoin.

"It is absolutely tied to China. If the yuan goes up, bitcoin goes down," Dan Collins, CEO of technology consultancy firm CCO Global, told CNBC in an interview on Thursday.

BWillie · 02-23-2017, 05:35 PM

Bitcoin price today: $1188

If you bought $100 worth of bitcoin in 2009, and kept it until today, you would have $21.2 million dollars.

Food for thought.

If anybody needs any, let me know as well. I'm always selling at least a little.

**TimeForWasp** · 02-23-2017, 10:35 PM

My buddy is an electrician. For months now he has been working wiring up a warehouse with bitcoin mining computers. The company he is doing this for is now looking for more warehouses. They must be making bank.

**Smed1065** · 02-24-2017, 02:26 AM

Quote:

Originally Posted by 65TPT

My buddy is an electrician. For months now he has been working wiring up a warehouse with bitcoin mining computers. The company he is doing this for is now looking for more warehouses. They must be making bank.

Depends mainly on electricity cost plus efficiency of mining rig.

I got in at 200 and just sold at 1050 to restart, kicking myself for only affording 10 at the time. Life is fun that way.

It should come back down, hoping anyway.

TambaBerry · 02-24-2017, 07:20 AM

You know what makes me sick? I was in on bitcoins when they first came out. I almost bought 100$ of them but I was a broke college student and couldn't afford to do it at the time. I could be rich right now if I just pulled that trigger.

scho63 · 02-24-2017, 10:02 AM

This seems like the great Dutch tulip bulb ponzi scam of the 1600's

Greater fool theory. Maybe I'm wrong but something doesn't seem kosher

BWillie · 02-24-2017, 10:33 AM

Quote:

Originally Posted by TambaBerry

You know what makes me sick? I was in on bitcoins when they first came out. I almost bought 100$ of them but I was a broke college student and couldn't afford to do it at the time. I could be rich right now if I just pulled that trigger.

You know how many HD's are at the bottom of landfills right now with millions of bitcoin on em? Get to diggin.

ChiefRocka · 02-25-2017, 03:43 PM

Quote:

Originally Posted by scho63

This seems like the great Dutch tulip bulb ponzi scam of the 1600's

Greater fool theory. Maybe I'm wrong but something doesn't seem kosher

Obligatory "I cant comprehend it so it must be bullshit line"

BWillie · 02-25-2017, 08:07 PM

Quote:

Originally Posted by ChiefRocka

Obligatory "I cant comprehend it so it must be bullshit line"

Agreed. There are only a finite amount of Bitcoins. In theory, if the popularity and use of bitcoin increases, it's value should also continue to follow. I don't see it slowing down any time soon until US government does something. Even China trying to cockblock bitcoin didn't slow it down for long.

BWillie · 02-25-2017, 08:09 PM

Quote:

Originally Posted by TambaBerry

You know what makes me sick? I was in on bitcoins when they first came out. I almost bought 100$ of them but I was a broke college student and couldn't afford to do it at the time. I could be rich right now if I just pulled that trigger.

Puke.

I'm in the same boat. This guy was ranting about how it's going to change the world of online currency back in 2010. He was telling me to buy as much as I could and hold onto it for a while. I didn't.

F***** our lives. We should be Mark Zuckerbergs

02-15-2013, 11:41 AM
ChiefRocka Veteran Join Date: Feb 2012 Location: DE Casino cash: $9755019	Bitcoin Take? Bitcoin disrupts gold Ethereum disrupts financial services There will be others... Last edited by ChiefRocka; 03-06-2024 at 06:51 AM..
Posts: 3,819

01-03-2017, 06:07 PM	#152
Hoover Rufus Dawes Jr. Join Date: Aug 2000 Casino cash: $-191821	The problem with the dollar is that it's not backed by anything, ie gold. The bitcoin has the same problem.
Posts: 17,591

01-05-2017, 12:59 PM	#156
scho63 Politically Incorrect Join Date: Feb 2009 Location: Scottsdale, AZ Casino cash: $851110	Bitcoin plummets over 23 percent after nearing all-time high as 'volatile little bubble' bursts Bitcoin tanked as much as 23 percent Thursday afternoon after nearing an all-time high earlier in the trading day. The world's largest cryptocurrency by market cap traded as low as $887.47, down from the day's high of $1,153.02, according to CoinDesk data. The high for the day was just shy of $1,165.89 set on November 30, 2013. The price has recovered somewhat from the day's low to about $973.89 at the time of publication. A stack of bitcoins stand on top of U.S. one dollar bills. Chris Ratcliffe \| Bloomberg \| Getty Images However, bitcoin beat its high on some other cryptocurrency exchanges. Whereas CoinDesk's price index takes into account many different bitcoin exchanges – individual exchanges, where users can trade bitcoin, noted their own highest prices were exceeded. Among these were one of China's biggest and most liquid exchanges, BTC China. Industry experts said the rapid rally in bitcoin created a little bubble which is now bursting but the long-term prospects are still positive. "Once we broke through the nominal all-time high, liquidity dried up – no shorts, no sellers, which means a volatile little bubble formed quickly," Peter Smith, chief executive of bitcoin wallet Blockchain, told CNBC by email. "We are seeing the effects of that now. It's still fairly thin trading volume though. I expect the market will find a floor and stabilize somewhere in the $850 to $1,000 range, but we'll see." Wild swings in bitcoin's price are not unusual and volatility is a characteristic of the virtual currency. Yuan rise behind bitcoin fall? CNBC recently outlined the reason behind the latest rally in bitcoin. One key reason has been the recent devaluation of the yuan as well as the threat of capital controls across many countries. The majority of bitcoin trade comes out of China so it has a big influence. But on Thursday, the yuan rose against the dollar. The reason behind this was a sell-off in the dollar due to uncertainty around the future of U.S. Federal Reserve rate hikes, as well as state intervention by China in its currency. The rise in the yuan led to a fall in bitcoin. "It is absolutely tied to China. If the yuan goes up, bitcoin goes down," Dan Collins, CEO of technology consultancy firm CCO Global, told CNBC in an interview on Thursday. __________________ *"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!"* ~Redd Foxx~ ~~2018 2019 2020 20212022 2023~~ 2024 Adopt a Chief - Clark Hunt and Brett Veach "The men who drafted Patrick Mahomes"
Posts: 52,810

02-23-2017, 05:35 PM	#157
BWillie The End of All Your Dreams Join Date: Apr 2006 Casino cash: $521241	Bitcoin price today: $1188 If you bought $100 worth of bitcoin in 2009, and kept it until today, you would have $21.2 million dollars. Food for thought. If anybody needs any, let me know as well. I'm always selling at least a little.
Posts: 49,146

02-23-2017, 10:35 PM	#158
TimeForWasp Sprinkle in some Mahomes Join Date: Dec 2005 Location: Butte Montana Casino cash: $7658507	My buddy is an electrician. For months now he has been working wiring up a warehouse with bitcoin mining computers. The company he is doing this for is now looking for more warehouses. They must be making bank. __________________ Posted via Slingshot using Rocks eBay sniper
Posts: 8,271

02-24-2017, 07:20 AM	#160
TambaBerry MVP Join Date: Jan 2013 Casino cash: $-114459	You know what makes me sick? I was in on bitcoins when they first came out. I almost bought 100$ of them but I was a broke college student and couldn't afford to do it at the time. I could be rich right now if I just pulled that trigger.
Posts: 10,828

02-24-2017, 10:02 AM	#161
scho63 Politically Incorrect Join Date: Feb 2009 Location: Scottsdale, AZ Casino cash: $851110	This seems like the great Dutch tulip bulb ponzi scam of the 1600's Greater fool theory. Maybe I'm wrong but something doesn't seem kosher __________________ *"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!"* ~Redd Foxx~ ~~2018 2019 2020 20212022 2023~~ 2024 Adopt a Chief - Clark Hunt and Brett Veach "The men who drafted Patrick Mahomes"
Posts: 52,810