Sold of My Entire Bullion Collection In Order To Purchase BitCoins

Stabilizing for Thanksgiving?

1 Bitcoin equals
8190.22 US Dollar

 

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Are you serious????

 

Nah, the Pres dollars will only be worth face. Everyone knows that.

1 Bitcoin equals
8267.00 US Dollar

 

There was a story about a guy whose computer was thrown away with $7 mil in bit coins. Never recovered.
Precious metals have always had value.
Digital is nice as long as a high tech society holds together. What happens in war? Atomic hit? EMP? Lots of scenarios make digital money of any kind vulnerable.
People save for retirement, or hoard for hard times.
s
ety

 

OMG

1 Bitcoin equals
8915.94 US Dollar

On 22 May 2010,Laszlo Hanyecz made the first real-world transaction by buying two pizzas in Jacksonville, Florida for 10,000 BTC.

If he only held them, that's 89 million dollars now.

 

And those 10k BTC cost pennies each at that point if even that much.

 

Well, I suppose bitcoin has come full circle. Bloomberg’s app has a story today on how to short cryptocurrencies.

 

Right now: 9599.78! Insane.

 

Well, I'll admit when I was wrong. I said bitcoin would hit 10K by the end of the year. It closed over 10k yesterday. And no, I don't own any. Insert sad face here.

 

OK this is insane.
1 Bitcoin equals
9974.80 US Dollar

Warren Buffet says it is an asset that doesn't produce anything, but it is a "store" of wealth. And predicts the crypto currency bubble will crash.

Maybe. Maybe he is a dinosaur and just can't wrap his head around this 21st century stuff. I certainly don't want to invest in anything at the top. But why does it continue to go up? Why would anyone accept 1 bitcoin for $10,000 worth of "real" goods/ and or services? Why is their trust in this medium of exchange, when there is no proven track record or reason for it?

 

I'd also like to know who is buying at these prices. Is it all demand from Asia? Maybe I'm a dinosaur and the buyers are a new kind of prepper.

 

Prepping for what?! There won't likely be a working internet necessary to redeem their stupid crypto currency if the apocalypse happens.

 

I was really tempted to buy $1000.00 worth a few weeks ago when it was $6,500. Instead I bought $20.00 as an experiment. The thing is just too unstable. It crashed 20% a few days before I bought it too. Even though it has more than rallied I am still pretty skeptical.

 

A preppers for the failure or sunsetting of government backed currencies around the world. Or some other reason that is unknown to me.

 

Personally, I wouldn’t read any “prepping” motives into bitcoin. Reminds me somewhat of the dotcom stock bubble of the early 2000s. People are piling in wanting in on the big gains — with a lot of them not having a working understanding of what they’re piling into.

 

Before these prices became astronomical, I was reading about people who were leaving China and were only allowed to take a certain amount of $ out of the country. What they would do is put the bulk of their assets in Bitcoin, leave the country, and then redeem their funds in Europe, US or wherever.
So that made a lot of sense to me. How many people are doing that, and is that driving the price up? I also read recently that a futures exchange was going to start taking orders on Bitcoin, and I think that spiked the price as positive news.
I think they are just taking long and short orders on the price, and don't have any Bit Coins.
Oct 31st
CME Group Announces Launch of Bitcoin Futures
Aug 2nd
CBOE plans to launch bitcoin futures, announces agreement with

 

I think this is 1000% more a gamble than that, but yes, same general mentality.

It's very stupid. It's just a gamble. These buyers are just waiting for the bigger fool to come along that they can sell to, but eventually a crash will happen and the last buyers will lose everything.

Very unethical!

 

$10,041 as I type. Madness...

 

Thanks Bman

1 Bitcoin equals
10093.20 US Dollar

 

Speaking of the dot com bubble, much of that, I believe, was classic — albeit legal — pump and dump. I view Bitcoin the same way.