Sold of My Entire Bullion Collection In Order To Purchase BitCoins

Discussion in 'Bullion Investing' started by Tyler, Apr 1, 2013.

  1. Michael K

    Michael K Well-Known Member

    Um, OMG
    1 Bitcoin equals
    14389.66 US Dollar

    Warren Buffet says it is not asset producing, and the crypto bubble is poised for a crash.
     
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  3. baseball21

    baseball21 Well-Known Member

    Buffet is one of the last people I would take free advice from for investing.
     
  4. Michael K

    Michael K Well-Known Member

  5. Santinidollar

    Santinidollar Supporter! Supporter

    CNBC says $15,000 now
     
  6. baseball21

    baseball21 Well-Known Member

    Yep little over 14,600
     
  7. Gilbert

    Gilbert Part time collector Supporter

    Classic something for nothing. People buying into Bitcoin at this point will get the lesson of a lifetime. At least, that is my hope.
     
    asheland likes this.
  8. Santinidollar

    Santinidollar Supporter! Supporter

    One word that should chill any bitcoin buyer: liquidity.

    Or maybe that should be lack of liquidity should everyone pile into the exits. All sellers, no buyers. And in an unregulated market such as this, there are no “circuit breakers,” such as in the stock market, to hold off a complete price collapse.
     
  9. baseball21

    baseball21 Well-Known Member

    Why would you wish for something to fail just because you missed out?
     
  10. Michael K

    Michael K Well-Known Member

    WT...?
    1 Bitcoin equals
    15979.01 US Dollar
     
  11. Comixbooks

    Comixbooks Active Member

  12. chrisild

    chrisild Coin Collector Moderator

    Is that what he wrote? Anyway, the problem with such bubbles is that they may collapse at some point. And BTC has been much more volatile than assets that are not just based on hot air. ;)

    Besides, while the blockchain technology basically makes a lot of sense, Bitcoin "rewards" computing power: Currently BTC uses about 30 TWh electricity per year (extrapolated). Well, that was on 30 November; one month before it was 24 TWh/a. If Bitcoin was a country, it would be #61, in terms of energy consumption, in a global ranking. And, again extrapolated, based on its current usage growth, it would use more energy than all countries combined in early/mid 2020 ...

    Other blockchain currency models, such as Ethereum or Burstcoin, work a little differently. From what I have read (superficially, I admit), Burstcoin will give out "coins" depending on how much memory you dedicate to it. Could help reduce or at least stabilize the energy consumption.

    Christian
     
    Tater likes this.
  13. Michael K

    Michael K Well-Known Member

    Past the point of insanity
    1 Bitcoin equals
    16749.99 US Dollar
     
    Tater likes this.
  14. Clawcoins

    Clawcoins Well-Known Member

    $17,395 ... 9 minutes later

    I cashed out a while ago. Thought it was a bit too insane.
     
  15. baseball21

    baseball21 Well-Known Member

    Bitcoin is worth more than JP Morgan now
     
  16. Clawcoins

    Clawcoins Well-Known Member

    lol.
    it breached $19k, then dropped down to the low $16k
    bitcoin1.jpg
     
    asheland likes this.
  17. Santinidollar

    Santinidollar Supporter! Supporter

    Your mother raised a wise man.
     
  18. asheland

    asheland The Silver Lion

    I've never seen volatility like today.
     
  19. -jeffB

    -jeffB Greshams LEO Supporter

    I'm not seeing any reports of it going higher than $16.5K or so before the pullback. Where was the $19K peak being reported?
     
  20. Michael K

    Michael K Well-Known Member

    Unstoppable juggernaut.
    1 Bitcoin equals
    17260.56 US Dollar
     
  21. Clawcoins

    Clawcoins Well-Known Member

    I have an account to buy/sell.
    So I see the activity and price each minute .. see the chart above that I posted as it was very brief. BUT if you have something other than Coinbase, you may not have seen the spike, and if you weren't watching for those 4 minutes the spike doesn't show up on the Day trend chart. CoinDesk has it topped out at $16615 so far today.

    For example, Kitco shows spikes in PMs, but you don't see those spikes in other charts. Coinbase seems to be the same way. you can watch the "spikes" up or down but those spikes don't show up in others' charts.
     
    Last edited: Dec 7, 2017
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