Discussion in 'Bullion Investing' started by Tyler, Apr 1, 2013.
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I just sold an 1873 $20 AU58 for $1325 on Craigslist today
Retailers have broadly embraced BitCoin . . . Not!!!
Someone out there is salting the mine.
But yes BC has been manipulated for the last few years.
JMBullion and Silvergoldbull are two retailers that have embraced Bitcoin as a method of payment.
It's been going up recently, but from the high ($19,000?) you can't gamble your profit margin as a retailer that way.
LC did and it worked out swell. Since I found bitcoin in 2013 every buy has worked out peachy.
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
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.
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.
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.
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.
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