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What do people think about Bitcoin?

Discussion in 'BBS Hangout' started by Spooner, Jan 25, 2014.

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What is the fate of Bitcoin?

  1. Currency of the future

    35.0%
  2. Passing Fad

    65.0%
  1. Commodore

    Commodore Contributing Member

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    marketplace to sell services in exchange for bitcoin micropayments

    https://21.co/mkt/

    most of them don't seem all that useful so far, but an interesting idea
     
  2. fallenphoenix

    fallenphoenix Contributing Member

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    Typical financial media...

    Why is this price going up/down? I dunno... China?
     
  3. dmoneybangbang

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    Well China does have a pretty big economy that effects the globe.
     
  4. TheMystery008

    TheMystery008 Member

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    Bitcoin to the moon?
     
  5. Commodore

    Commodore Contributing Member

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    <iframe width="560" height="315" src="https://www.youtube.com/embed/3g7NQgMEodk" frameborder="0" allowfullscreen></iframe>
     
  6. TheMystery008

    TheMystery008 Member

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    Bitcoin just hit $700.
     
  7. dmoneybangbang

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    That doesn't sound like a good thing, maybe I am mistaken.
     
  8. nolimitnp

    nolimitnp Contributing Member

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    I don't understand why people aren't paying more attention to this, but that's a good thing for me. Greece is still struggling trying to stabilize it's debt with the Euro and has limited how much can come into or out of the country. Food, medicine, energy, the "must haves" get first priority, which is severely limiting businesses. Enter the Bitcoin. Some businesses are starting to thrive again. This time last year they started installing 1000 Bitcoin ATMs. It's very similar to what happened in Argentina with the Peso. The government tried deflation of the Peso which failed miserably, but the Bitcoin is picking up the slack. Most of Latin America has moved on to the Bitcoin, so it's not as if this currency is a joke. In places where financial institutions have failed, the Bitcoin is thriving. I don't know if Bitcoin specifically will be the currency of the future, but it will most definitely be some kind of decentralized cryptocurrency. To hell with banks, put money into the hands of the people.
     
  9. nolimitnp

    nolimitnp Contributing Member

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  10. fallenphoenix

    fallenphoenix Contributing Member

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    Now is definitely not the time to get into bitcoin. Wait until it falls again if you HAVE to buy some, which I don't recommend.
     
  11. Commodore

    Commodore Contributing Member

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    why not?
     
  12. SonofSatoshi

    SonofSatoshi Member

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  13. robbie380

    robbie380 ლ(▀̿Ĺ̯▀̿ ̿ლ)
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    Well...2016 is coming to an end and I'm a complete moron. Bitcoin has had an amazing year.

    I hope GanjaRocket is still doing well with his investment and I apologize for anything condescending or stupid I might have said. No idea where it goes from here, but this move upward after the crash in 2014 is very strong.
     
  14. RedRedemption

    RedRedemption Contributing Member

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    Don't let the price of bitcoin distract you from the fact that GanjaRocket was a massive douche.
     
  15. Mr. Clutch

    Mr. Clutch Contributing Member

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    I'm using it for online transactions now, fees are often waived
     
  16. Commodore

    Commodore Contributing Member

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    right now the main use case is speculation

    hopefully that will change
     
  17. CCity Zero

    CCity Zero Member

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    Man I still kick myself for not doing some mining at the ground floor... I knew about it a long time ago but kind of thought it was silly to get 50 cents or whatever it was for a coin. Haha, I guess my story isn't as bad as the guy who tossed his bitcoins in the trash when he recycled his drive... I think it was worth like $50,000 once the price jumped. He somehow forgot about them or something.
     
  18. Commodore

    Commodore Contributing Member

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    the first known purchase of an item with bitcoin was 2 large papa johns pizzas for 10,000 bitcoin ($7.8 million), lol
     
    CCity Zero likes this.
  19. nolimitnp

    nolimitnp Contributing Member

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    Until a few weeks ago, I had been living out of my truck (in Portland, Oregon) to avoid paying rent/utilities just to buy bitcoins. People thought I was nuts. $3000 later and I'm not telling you how many Bitcoins, who's laughing now? EVERYONE should own at least one. And remember, you can buy .00000001 BTC, so you don't necessarily have to buy an entire Bitcoin. I

    I'll admit it's still very volatile and could drop 75% in one day, so know what you're doing and how to get out, but it could also hit $10,000 or more one day. To me it's entirely worth the risk.

    Also keep in mind Bitcoin is not the only cryptocurrency on the block. I also have Ethereum (currently trading below $8) among others. High risk, extremely high reward.
     
    TheMystery008 likes this.
  20. Dei

    Dei Member

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    Bitcoin is having a strong climb at the end of the year because... Trump won. People are scared about the dollar and, this has been brought up before, they're looking at Bitcoin as similar to gold.
     

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