Sold of My Entire Bullion Collection In Order To Purchase BitCoins

It's getting easier to buy bitcoin. Square is adding it to their program as an option. There are lots of ways once you get set up to buy without any fees. Smart thing is to have your own offline wallet, don't keep your coins on an exchange.

 

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That is true, I just don't see the run continuing to the moon. At some point the big money is going to want to take profits and really a lot of people probably will given the crazy successful run up it's had this year. It looks like some might be taking profits and moving that into a different version of it. There just has to be some sort of ceiling which it seems it should be close to. It's hard to imagine its going to keep going down the path of buy a couple wait and bit and get rich like it has been

 

I’ve got a question: Who sets the daily prices of bitcoin?

 

The short story is the interaction between the buyers and sellers who are trading it with supply and demand. So basically pretty similar to metals

 

Thanks.

 

It has been interesting to watch this run-up.

 

I admit to the same mistake, but I recently did some reading that actual did help me understand it's value. Try this:

https://blog.chain.com/a-letter-to-jamie-dimon-de89d417cb80

 

I have bought and sold some. I used bitcoin to transfer money to an online poker account, only way for me to get around state laws. Oddly enough, I bought $350 worth and only deposited $300 into the account. Now that $50 I left in bitcoins is worth more than the initial $350 I put in

 

Nice, I can't even find a website I feel comfortable with as far as buying goes. I did buy $20.00 worth of bitcoin from a Bitcoin ATM on Monday as an experiment. I got $17.40 in BTC. 13% in fees was bad. It is now worth $20.44, lol.

 

Imagine if the OP really did cash in the PMs for bitcoin! Would have made out like a bandit.

 

Yeah, I bought it with the intent of using it as an exchange, so I was not that concerned with the stability of the site. If I was planning on trying to speculate in bitcoin, I would do a lot more research. As it turns out, I have had the bitcoins for over a year, and not had any problem with the exchange I used.

 

Would have been a billionaire if he sold now

 

Just went back and read the OP's original post. It was an April Fools Day joke. Damn.

 

Bitcoin was $133.76 that day (April 1, 2013).

 

Do you know how much money is in the FDIC insurance kitty to cover the $250K limit? $.03 dollars (3 cents) for every $100. So if everyone runs on the banks at once (which is not probable), not enough to cover everyone. But then again, the FR can just print more paper - POOF!, and everyone's covered. Your money isn't worth as much, but you have it. I agree that bitcoins are not worth the paper they're printed on, but Fiat currency isn't much better. There won't be any more bank bailouts in the future. There will be haircuts. Cyprus was a practice run to see if the sheople would go along with it, and they mumblingly did.

 

We'll see.

 

Unfortunately I think we will.

 

Don't be so sure. GS has its tentacles firmly attached to the wheels of power.

 

BMan, PM me if you'd like. I've got several years' experience with this, and crypto in general.