Sold of My Entire Bullion Collection In Order To Purchase BitCoins

Just saw a quote a bit under $9,000.

 

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1 Bitcoin equals
8950.00 US Dollar

 

Not looking good right now.

 

1 Bitcoin equals
8507.01 US Dollar

 

Interesting read here:

https://www.nytimes.com/2018/01/31/technology/bitfinex-bitcoin-price.html

 

Too many hacks happened to this un-hackable system.

 

that's way I sold out last fall from crypto. Too many things I were reading of hacks to the systems of the supposedly super secure environment.
Plus the trading platforms were always slowing down or were unavailable, etc.

 

How come nobody mentions that people just invented their own currency, with no sovereign nation backing? Hi. I'm Bob. I've decided to create The Bob.
And then it's worth $10,000 per Bob unit. It's ludicrous.
There's a whole slew of crypto currencies. Why would anyone have "faith" in those over the dollar, the Euro etc.?

 

Bitcoin exchanges have been hacked several times in the past, some resulting in some pretty big drops in the value of Bitcoin. But so far it seems to bounce back every time, usually to a new all time high. Just don't invest more than you can afford to lose...

 

Yes it is ludricrous.

There are some crypto that are tied to the Dollar.
but, I doubt you can walk into a bank and convert those crypto to USD.
And I somehow doubt you can convert it to USD online except at an exchange platform.

an example of a crypto tied to the USD is Thether
==> https://www.bloomberg.com/news/arti...ers-are-so-worried-about-tether-quicktake-q-a
==> http://www.businessinsider.com/tether-explained-bitcoin-cryptocurrency-why-people-worried-2018-1

 

Hey, that’s an idea. I could call mine the “Santinidollar.” Any buyers out there?

 

People in the dollar or euro didn’t have faith in it over their own currency. Some used it as an investment to get rich but it wasn’t replacing either currency. That’s why it lives and dies by what Asia has done with it. They didn’t just control the market, they WERE the market. China announcing their own version of it has been a kick to the groin it hasn’t been able to shake so far along with the hacks and South Korea’s possible crack down.

 

Hang on it may get to a dollar!

 

$7,600

 

Thread may have started out as a joke. But it's good.
1 Bitcoin equals
7520.02 US Dollar

 

Bitcoin is dying .

 

BitCoin still has had great returns if you bought early, even last Summer/Fall.
If you bought recently at highs and before gov'ts started impeding and CreditCard companies prevent CC's from use to purchase crypto, then that's another issue.

 

Not for any one bought at 19000 a coin.