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aka, "Senior Mierda"
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Discussion Starter · #1 · (Edited)
Mentioned these in one of CAG's threads. Bitcoins are being accepted at more and more locations. A decentralized currency.
 

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Master of Pr0n
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More info please
 

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Where did you buy them, and when do you plan to sell them (and where), or are you just going to purchase "black market goods" with them?

As they become more prevalent, I'd expect value to normalize and settle.
 

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aka, "Senior Mierda"
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Discussion Starter · #7 · (Edited)
Where did you buy them, and when do you plan to sell them (and where), or are you just going to purchase "black market goods" with them?

As they become more prevalent, I'd expect value to normalize and settle.
...
 

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The current prices might be driven by the banking crisis in the Euro zone right now.

If you want to stay in this, I'd sell at 68, and BTD when hopefully the storm passes in the next couple weeks.

Otherwise, I'd sell now and take your profits. At least take some profit off the table.

Decentralized currency = no backing, no central bank. I understand you think that's a good thing.
 

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Badministrator
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I'll take that bet.
You honestly believe that a "currency" backed by nothing, designed by one person who has no background in currencies in and of themselves, created by computing mathematical hash tables, with a hard rule on maximum 'coins', will become mainstream?

Where can we make this bet?

Don't get me wrong, I'm not against them.
They just won't take on mainstream. Not in the US at least.
It will be just as mainstream as all the other micro / private currencies being circulated around in the US at the moment. Popular, known, and supported by a small group of followers, until they realize or lose interest in it because it will never go mainstream and become widely accepted.

Can I go to the grocery story, and buy a gallon of milk with them?
A gallon of gas?
A product or goods off ebay or amazon?

That's where my rub with them is. They're cool. I'm all about that.
But they won't (IMO) go big. I think if you got in at 6, then you have all kinds of room to play and make some money. People trying to get into mining now are simply wasting their time. unless they are raising $100K capital and building a true bitcoin farm with racks and racks of ASIC boxes that are literally doing multi-trillions of hashes per second.

I hear people buying into bonds and forming LLC's and trusts to build farms, profit share, blah blah blah..... It's a pipe dream. Again, IMO.

You did it right. You grabbed a bunch of coins when it was cheep, and a punk ass PC could actually mine coins. The algorithm continues to get more and more difficult with each coin created. IIRC, it's exponentially harder with each coin. So in a very short while, it will take years to create coins, versus weeks now. Then you have good old Moore's Law.......
 

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No one except the original creators know for sure who created the thing. I wouldn't be surprised if one or four guys did the work, stashed coins somehow for themselves as a creation fee, or backdoor to get some later, waited for the whole thing to explode and cashed out quietly and anonymously. Or they're waiting to do so. They're already sipping drinks on the beach.
 

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Badministrator
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No one except the original creators know for sure who created the thing. I wouldn't be surprised if one or four guys did the work, stashed coins somehow for themselves as a creation fee, or backdoor to get some later, waited for the whole thing to explode and cashed out quietly and anonymously. Or they're waiting to do so. They're already sipping drinks on the beach.
Yeah, that's a good point.
However it's open source, so that would be highly troublesome.
 

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Badministrator
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And again, don't take what i'm saying the wrong way. I'm just not a believer in the long term validity of them. For your sake of profit, I'd love to be wrong.
 

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$8 x 1000 coins = $8000 initial investment.

At $68/bcoin, you could sell 118 coins @ $68 and cash out for your initial investment. Then, you have 882 coins worth of "house money"...
 

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aka, "Senior Mierda"
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Discussion Starter · #19 ·
that'll barely cover your daily expenses. And I'm sorry sir, but with no job, you got no credit.
 
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