Sold of My Entire Bullion Collection In Order To Purchase BitCoins

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

  1. EdThelorax

    EdThelorax Active Member

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  3. Michael K

    Michael K Well-Known Member

    These charts don't help me as they are confusing.
    Current
    $6,261.45
     
  4. EdThelorax

    EdThelorax Active Member

    I would be more than happy to discuss charts and charting methods with crypto or any other asset class. It probably would be better done in PM.
     
  5. EdThelorax

    EdThelorax Active Member

    $7160 that's 100% in less than 3 months.
     
  6. scott schultz

    scott schultz New Member

    I just sold an 1873 $20 AU58 for $1325 on Craigslist today
     
  7. Michael K

    Michael K Well-Known Member

    This is the BitCoin thread. Unless you took the proceeds and put it in BitCoin.
     
  8. ToughCOINS

    ToughCOINS Dealer Member Moderator

    7806 right now . . .

    Retailers have broadly embraced BitCoin . . . Not!!!

    Someone out there is salting the mine.
     
  9. Michael K

    Michael K Well-Known Member

    Maybe a short term reaction to the market tanking the last couple weeks?
    But yes BC has been manipulated for the last few years.
     
  10. EdThelorax

    EdThelorax Active Member

    JMBullion and Silvergoldbull are two retailers that have embraced Bitcoin as a method of payment.
    $8020
     
  11. ToughCOINS

    ToughCOINS Dealer Member Moderator

    They were both among the first wave to accept Bitcoin, and that was over a year ago. Bitcoin has not attracted significantly more vendors since that time. That's a sure sign that it's not likely to enjoy broad-based support any time at all, let alone some time soon.
     
  12. Michael K

    Michael K Well-Known Member

    When the volatility is on the downside you can't risk selling your goods below cost.
    It's been going up recently, but from the high ($19,000?) you can't gamble your profit margin as a retailer that way.
     
  13. Lesbian Cow

    Lesbian Cow Member

    LC did and it worked out swell. Since I found bitcoin in 2013 every buy has worked out peachy.
     
    Last edited: Jun 1, 2019
  14. Lesbian Cow

    Lesbian Cow Member

    Right.....https://www.ccn.com/telecom-giant-att-accepting-bitcoin

    Your failure to admit you are wrong is causing you to miss a huge paradigm shift. You are the dude in a horse buggy ranting about how internal combustion engines will never catch on.

    We are 57 pages and over 6 years into this thread. Let's have an update on what has transpired.

    I understand the OP was an April Fools joke but the OP was April 1, 2013. BTC was approximately 100 usd / btc (https://www.forbes.com/sites/timoth...ated-history-of-bitcoin-crashes/#2a41cc6c4039)

    Let's say the original poster of this thread just dipped his toes into btc and sold one ounce of gold and put the proceeds in bitcoin. Spot gold was 1,380 USD per ounce, so spot for spot OP would have 1380/100 = 13.8 btc at time of original post. Current value is 13.8 btc x 8521 usd = 117,590 USD. Now there was no guarantee that would work out, and there was definitely big risk he would lose his 1380 usd, and he could have panic sold 3 weeks later on the crash to 50. But if it was an amount he could afford to lose and he just tucked it away, oh my.

    The ounce of gold is currently worth 1,306 usd vs the 13.8 btc at 117,590 usd
     
    Last edited: Jun 1, 2019
  15. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Yippeee . . . a company with a post break-up history of desperation-driven-bad-decisions has finally stuck its toesies in the crypto pool . . . not much reason to get excited, I think.

    Only 6 years into this thread, Bitcoin is faster becoming a relic than gold is.
     
    Last edited: Jun 2, 2019
  16. EdThelorax

    EdThelorax Active Member

  17. goldcollector

    goldcollector Member

    $8652

    I wish Bellman was still around so I could read the drivel as he tries to claim he wasn't wrong when he guaranteed Bitcoins demise. It has since gone up over $5000.

    Oh well I can still read Jeff's nonsense for s good laugh.
     
  18. ToughCOINS

    ToughCOINS Dealer Member Moderator

    I just hope anyone that isn't already bit-by-Bitcoin views it with a cynical eye.

    There is no fundamental reason why Bitcoin should go up, other than those already holding it wanting it to. They should cash in, go back 100 years and buy swampland, or 400 years and buy tulip bulbs.
     
  19. Michael K

    Michael K Well-Known Member

    It's true that it is up (from $4000?) but eventually it will have to go down.
    There's nothing holding it up but speculation and manipulation.
    The crash is inevitable. How many people bought in at $19,000 and are stuck
    holding it hoping it to go back up so they can cash out and break even?
    They are going to lose 90% or more of their investment, if they haven't already cashed out. There's no upside.
    You can point to current price levels and say: Ha ha. Look and see. But it's
    just a bubble in the bathtub.
     
  20. Michael K

    Michael K Well-Known Member

    Now with Facebook introducing a new world digital currency, does that over saturate the market and bring Bit Coins value down, as if this one becomes popular and people lose interest in the older Bit Coin?
     
  21. Nathan401

    Nathan401 Quis custodiet ipsos custodes? Supporter

    Not so sure about that Michael. It’s all institutional money now.
     
    Michael K likes this.
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