Sold of My Entire Bullion Collection In Order To Purchase BitCoins

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

  1. slackaction1

    slackaction1 Supporter! Supporter

    Can the Government accept bitcoin for Payments like say for taxes or something. That way the Gov. could collect some bit coins to hedge against the fake dollar.. Bitcoin is the lead horse in the race. It is really for greedy people you can double or triple up. I tried to look at the trends since 2011 on bitcoin on resets. Its to much for me to comprehend.. If you own bitcoin, which I don't you will really like it this fall when it sky rockets with not many corrections.....
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  3. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    The secret is knowing and identifying technologies that are on there way
    up both bit coin and Tesla fit into this category, how high will they go ?
    thats the rub...LOL
  4. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Nobody knows....Elon Musk wanted to take his company private 750 points ago.

    He said the stock was "overpriced" 8 months ago 675 points ago.
    -jeffB likes this.
  5. mpcusa

    mpcusa "Official C.T. TROLL SWEEPER"

    It is severely over valued ! however allot of investors me included are hopping
    on the bandwagon, the future is electric cars and AI technologies in a luxury
    platform, that is TESLA
  6. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Somebody had a $4,000 pre-split target for TSLA when the stock price was about $400. Said it could get there in 5 years.

    Got there in a little over 5 months..........:wideyed::wideyed::wideyed::wideyed::wideyed:
  7. ToughCOINS

    ToughCOINS Dealer Member Moderator

    Before you jump on that bandwagon, give lots of thought to where the electricity comes from and where the dead batteries go to.
  8. ToughCOINS

    ToughCOINS Dealer Member Moderator

    You know what amazes me? The sheer number of people who were completely ignoring BitCoin when it wasn't hockey-sticking to the stratosphere, but are now suddenly considering plunging into it, not because it's mainstreaming . . . it's not, but because they're afraid of missing the boat.

    That is not demonstrable of fundamental value . . . it is a feeding frenzy, and will not end well.
    -jeffB and GoldFinger1969 like this.
  9. ToughCOINS

    ToughCOINS Dealer Member Moderator

    The reliability of a Doomsday prediction would depend on far more externalities than the fall / demise of a particular representative of monetary value. Especially a supposed one, such as BitCoin.

    I don’t disagree that BC is likely to go up more this year . . . How much, we don’t know.

    What I do disagree with is that it represents value. It doesn’t. It represents speculators excitement over a novel development, a new way to ride public interest to outsized profits, and their belief that they can sell off their share of the market before others, so that they are not the one’s who end up catching the falling knife.


    I understand the motivation of those having huge sums of money, willing to risk a meager percentage on this medium, and then publicly supporting its adoption. They’re trying to make their speculations pay off. I understand it, and I don’t like it one bit. They, with their very deep pockets, can afford to lose the money they’ve put into BitCoin, but the general public they are trying to attract into this market cannot.

    Is this a pump and dump? In my mind, yes. Not by an individual, but by a class of individuals who can justifiably tolerate the risk, and at the expense of those who cannot.
  10. GoldFinger1969

    GoldFinger1969 Well-Known Member

    Except for one thing...the higher BitCoin goes, the MORE the case for it becomes. It's counter-intuitive, I know.

    Similar to TSLA surviving by selling stock at high prices.
  11. longshot

    longshot Enthusiast Supporter

    I think they will get the recycling thing figured out. They are working on it. If you disagree, I'll be happy to hear your explanation.

    Where does electricity come from? Well, multiple sources, and I can confirm that wind farms are growing rapidly, just gotta look out my window.
    Last edited: Jan 9, 2021
  12. -jeffB

    -jeffB Greshams LEO Supporter

    Both issues that are being actively worked. There's plenty of development going on for recycling existing batteries, and for producing batteries that are easier to recycle. Heck, a single 50-gram 16850 cell contains almost a gram of lithium -- that's comparable to the concentration in brine you pump out of the ground, and it's concentrated in part of the cell, so it's even easier to get to.

    As for where the electricity comes from, solar and wind production is absolutely exploding. Given a large-scale storage technology, we can use that anywhere. Hmm -- sounds like another job for better batteries!
  13. Numinaut

    Numinaut Member

    BREAKING: #Bitcoin crashes to levels unseen since...

    *checks notes*

    -jeffB likes this.
  14. CoinCorgi

    CoinCorgi Derp, derp, derp!

  15. GoldFinger1969

    GoldFinger1969 Well-Known Member

    BitCoin ? Down about $3,200 or 9%. It's just over $32,000 per coin. :D
  16. CoinCorgi

    CoinCorgi Derp, derp, derp!

    So Friday it was at $41,962.36 and now it is at $32,000. That's a bit more than 9%.
  17. GoldFinger1969

    GoldFinger1969 Well-Known Member

    I go from the Friday close to today....overnight or weekend moves are usually not quoted on most stock tickers, CNBC, etc.
  18. GoldFinger1969

    GoldFinger1969 Well-Known Member

  19. masterswimmer

    masterswimmer Well-Known Member

  20. CoinCorgi

    CoinCorgi Derp, derp, derp!

    Where's that damn Post-it!

    The problem is that Mr. Thomas years ago lost the paper where he wrote down the password for his IronKey, which gives users 10 guesses before it seizes up and encrypts its contents forever. He has since tried eight of his most commonly used password formulations — to no avail.


    “Through the years I would say I have spent hundreds of hours trying to get back into these wallets,” said Brad Yasar, an entrepreneur in Los Angeles who has a few desktop computers that contain thousands of Bitcoin he created, or mined, during the early days of the technology. While those Bitcoin are now worth hundreds of millions of dollars, he lost his passwords many years ago and has put the hard drives containing them in vacuum-sealed bags, out of sight.

    “I don’t want to be reminded every day that what I have now is a fraction of what I could have that I lost,” he said.

    So eventually all but one bitcoin owners will lose their password and this one person will be left holding what? A digital sack of steamy bits?

    Of the existing 18.5 million Bitcoin, around 20 percent — currently worth around $140 billion — appear to be in lost or otherwise stranded wallets, according to the cryptocurrency data firm Chainalysis.
  21. -jeffB

    -jeffB Greshams LEO Supporter

    Yup. An ever-increasing amount of BTC will be lost, unable to circulate -- but nobody can ever be sure how much, and at any point an arbitrarily huge chunk of it could resurface. I mean, you don't suppose someone would find any reason to lie about having "lost" a few hundred million dollars worth of, well, anything?
    GoldFinger1969 likes this.
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