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I'm using the Plus 500 Program exclusively. It's a big big program with a huge number of clients. You can easily join but you must be careful because of the HUGE margin and leverage they allow you. It's 100 to 1 on the gold but works very very nicely on Bitcoin. Their Program allows poorboys to play the market. For $105 I get great leverage on Bitcoin. 10 to 1.
So it's like I bot ONE Bitcoin for $105. I get the profit or the loss on ONE Bitcoin for only putting up 10 % of its cost. More or less. The current contracts expire on Jan. 31 so I will be flat by then. I'll see when new contracts expire. If it is at the end of Feb. I will get back in with more money than I used for my test. Bitcoin is on an uptrend and it should be quite profitable. Check out this site and watch the big trading in China. Cheers. http://fiatleak.com/
My little trading test on Bitcoin was a success. I think it can be safely bot in this range for a while. It is settling in nicely and getting ready for the next leg UP !!!!!!!
My 'take ' on the ATMs. If you bot one for say $5000 - yes - you do own it but you are just essentially one outlet for the people who sold you the machine. THEY are the ones who buy and sell Bitcoin through THEIR machine that they just now sold to you. All you get are the trading FEES. YOU are only an agent for THEM who make the big money through the ' spread ' between the buy price and the sell price. All you own is the hardware but they control your machine. However they too take a risk. The money that Joe Sixpack pumps into that machine is THEIRS and they have to trust your integrity that you do not steal from them. That machine buys and sell Bitcoin FOR CASH both ways. The origin of the money that goes in and out of the machine is theirs and Joe Sixpack's. Nothing to do with you at all. All you get are the fees both ways.
More to that last post. Dimmy is not guaranteed to get the $600 minus fees because in the very short time lag until he withdraws what I sent him - the Bitcoin price may have gone up or down. So he may get more cash or less cash. RARELY the same $600. So it also makes Dimmy a Bitcoin gambler too. I LUV ' IT !!!!!!!!!!!!!!!!!!! ( Am I correct ?? ).
ALREADY Bitcoin is useful. Suppose I regularly send money to my no-good brother-in-law Dimmy in Montreal and he really prefers cash. So I go to the Bitcoin ATM where I live and I put in $600 C CASH. Bingo -- MY money is gone but right away it is still mine but it's now a CREDIT in my Bitcoin Wallet in cyberspace for X Bitcoin. So I go for a coffee and from my IPhone I SEND X Bitcoin to Dimmy's address. Bingo again -- Dimmy's got it at his ADDRESS. Now we have arranged this ahead of time and Dimmy's sittin' somewhere in Montreal close to an ATM Bitcoin kiosk. Then he gets up and goes to the ATM kiosk and converts the X Bitcoin I sent into Canadian money and withdraws Canadian CASH from the kiosk. But he won't get the full $600 because there is always a very small fee. But Bitcoin is supposed to be really really cheap. At least I think this is how it works. It can sit safely at your ADDRESS but you can't do anything with it unless you put it in your Wallet. ????????????????????? Check it out.
One of our members sent me X Bitcoin as a test -- which is GREAT. But the money is gone permanently ( sorry my friend ) because that was only an address without a WALLET - and I could not get the Bitcoin. But it helped me to learn. Thanks Pal.
Here is my LATEST take. ( I thought you would never ask ). Until Bitcoin becomes more stable it won't work well as a currency - either in reality or online. You look at an online merchant to-day for an item and it is priced at - say - 0.1 Bitcoin. You go tomorrow and it's 0.12 Bitcoin because the Bitcoin has lost purchasing power overnight. Not good. The merchant would be continually re-jigging his online price. HOWEVER -- the only thing that will KILL it now is if it does NOT continue to go up in price. As long as there is demand -- its price will go up. Elementary my Dear Watson. No demand ?? Down goes the price --- Goodbye Bitcoin. This is STILL a bandwagon. I think you can continue to buy with confidence. Even if China gets antsy -- this is a worldwide mania right now. We the people are speaking. Thank you Bill Gates and Steve Jobs.
Hmmm !! " Zey try to fok' me in Bitcoin. Zose *astards !!!!!!!!!! ". I'm gettin' close to down 100 %. But not to worry -- It's only $105 or so. I'll hold. It hasn't been as volatile as I thot it was going to be though.
I agree. It is a war to find out who is the top dog in the currency world. Just starting. It is a big big challenge to the Buck. Watch for lots of dirty fighting now from the FED and their Banker minions. I think Bernanke saw this coming and got out. They will now try to pin this can on a woman. Bad bad cowardly people.
Apparently you can buy 2 types of set-ups to participate actively in this new " Industry ". A mining set-up or an ATM set-up. Would you happen to know the best ATM BRAND ? I think one is manufactured in Israel.
I'm gonna' hang in with my small Bitcoin position in my Plus 500 Program. I'm down quite a bit in my little test program. They make you close this position before Jan. 31 so I'll wait until the 30 th. If it's down I'll take my lumps.
I luv' ya' Man ( or Lady ). You think like I do. I am SOLD on Bitcoin -- and I'm 85. Been on computers for nearly 20 years. They boggle my mind.
Re these new Bitcoin ATMs. Very interesting. Looks like you and me could OWN one privately. You can actually BUY them right now. Then we would have to rent a location to put it. The FIRST ONE in the entire world is in VANCOUVER, Canada. If you owned one you would have to stock it with your own money for ALL withdrawals. Here in Vancouver you would get Canadian money. And I'm guessing - you could only put in CANADIAN bills to DEPOSIT to your wallet. But So What ?? Suppose you had a friend in Brazil that wanted to send you some money. He would put that money into an ATM in Brazil. You could later draw it out in CANADIAN money from an ATM in Canada. AMAZING. The middle entity would be Bitcoin. Brazil in -- Canada out. I'm learning more about the rest of it re wallets and codes. FANTASTIC !!!!!!!!!!!!!!!!!
In my opinion the great comparative equalizer for the world currencies is the Cost of Living for a Middle Class Family of 4 to give them what we consider to be a ' nice life '. Then give that $ figure as of TODAY the Equivalent of $100,000 U S = 100 Bitcoin. So - in the one I know best - Canada - it now takes $120,000 C to get that same S O L in Canada. This equates to a unit value of a Bitcoin of $1,200 C. Soooo - if you are a Canuck - the present cost for you to buy a Bitcoin IS A STEAL !!!!!!!!!!!!!!!!!!!! LOL. AaaaND - our currency is presently OVER valued w r to the U S Buck. I think we are witnessing the start of a HUGE revolution in the monetary systems of all the countries in the world. The way the comparison is right now and if they make Bitcoin a universal internet currency and we Canucks buy it and use it online we will get bargains compared to our American neighbours. How ironic and how complicated. It boggles the mind. But eventually you are going to witness it all equal out. AS IT SHOULD !!!!!!!!!! We live in exciting times. That you Bill Gates and Steve Jobs.
I LOVE it. It's like a free-for-all fight in the world of currencies and economics. Winner take all. The U S Buck, the Chinese money, Bitcoin, and gold - all dukin' it out for world supremacy. I'm bettin' Bitcoin, or the Bitcoin model. LOL. The Power of the People !!!!!!!!!!!!!!!!!!!!!! Now if they go ' Tag Team ' and Bitcoin chooses to link with gold - they will be unbeatable. There are now 4 great equalizers in the world of currency comparison.
1. What it takes in each individual country for a Middle Class Family to enjoy a ' good ' Standard Of Living. 2. What do they pay for an ounce of gold ? 3. What do they pay for a Bitcoin ? 4. What do they pay for a U.S. Buck ? This is fascinating stuff.
I just joined up over on that Fiatleak website that was mentioned here. I may post more over there now because this Board is sort of dead. LOL. I can feel this Bitcoin phenomenon starting to rumble - and I want to be a part of it. Like a fiery volcano about to BLOW !!!!!!!!!! You are going to witness HISTORY IN THE MAKING !!!!
Ha Ha -- I thought this was going to be a hot deal. So far it moves like paint drying. I'm losing interest. I ran my test and so far I am disappointed.
The price now is not as volatile as it has been.
One thing I do not like about Bitcoin is the fact that no one seems to know if it is OWNED or CONTROLLED by someone. And if so -- WHO ???????????????????????????????? Someone set the limit number of Bitcoin that will ever be made. EVERYTHING has to be owned by SOMEONE. No Country would accept Bitcoin as its currency. That country would make its own. Right now there seems to be many many Bitcoin clones -- Ex. Litecoin. Any Country wishing to go digital-currency would do its own using the Bitcoin model. I think one day we will witness that. "" He who controls the currency controls the country "". Right now in America IT IS THE FED AND THE BANKS !!!!!!!!!!!!!!!!!!!!!! Not the Dems and the GOP.
Now hovering at break-even. I'll hang in with it to continue my test. I think it is starting an uptrend now.
Pickin' up some momo now. Big action in China. Trying to break out. Let us hope.
Still can't seem to get out of its own way !!!!!!!!!!!! Struggling to retain momo.
Well - since I did start this personal stuff I might as well continue. I got a gold margin squeeze in my Plus 500 Acct. and had to close one of my Bitcoin positions at a loss. No matter -- it was for test purposes on Bitcoin only. I have one position left and $103 at risk. I'm down $47 on it. All penny ante stuff -- for test purposes. Meanwhile I am getting the Wallet part of this gradually figured out. Thought you might be interested. Apparently you need TWO I D s and one or two passwords if you want to put one on your Bitcoin Address. It's like double protection and is a good idea. The I D s are really long - and this too discouragers hackers. ABSOLUTELY FANTASTIC FOR US OLDTIMERS. AMAZING IMPRESSIVE STUFF. I would recommend everyone check it out because it is starting to pick up momo and may actually become a bandwagon that you wished you had got on sooner. I did -- just to avoid missing out on something profitable --- and of course if it really is the Biblical Beast -- I now have my number. Ha Ha. Just sayin' !!!!!!!!!!!!!!
You are one sharp dude -- apparently. Me -- I'm lost right now trying to figure out the Wallets. Thanks for the money. Ha Ha. I will try not to spend it all in one place. I just did a new Wallet which will be my one and only. To-day I'm going to try to send the Bitcoin you gave me into it. I shall cherish it. I'm still on the negative side on the Bitcoins I did in my stock program at Plus 500. I only put in $205 as a test. Cheers. Are you Aussie ??
Comin' back nicely for me now. Now down only $41. Way better than this time yesterday.
I get the profit or the loss on TWO Bitcoins for $205 at risk at the rate of $2 for every dollar that Bitcoin moves. " Soch a Deal !!!!!!!!!!!!! ".
My stock program is only going to let me hold my 2 positions in Bitcoin until Jan. 31. I must close before then. So that's around 2 weeks to go. Who knows what will happen between then and now. Ha Ha.
Now down only $49. Doin' O K.
Now down $119 -- me, on $205
Received -- thank you. But I have to figure it out first. I like to know how things work. I'll do a cross-check as I struggle to learn. Thanx again.
Re that Website -- http://fiatleak.com/
It is deceptive. You might think all those Bitcoins are being BOUGHT by China. NO !!! It is the BUYS AND THE SELLS moving on that map. THE TRADING. You just have to look at the running totals to see the trend - up or down in ACCUMULATION.
I'm going to stick around. The big question for me is ( and many many others ), what will the long term trend be for Bitcoin ?? Will it last ?? I'm not one who plays the swings. My bet is that the long term trend is UP. So my " investment " will give me a profit eventually. I don't panic nor scare easily. It's either black or white. I'm betting white. ( And it's only $205 -- Ha Ha ).
Well I went up over a loss of $100 on my $205 shot - overnight. Now back below a $100 loss. I'm not concerned because it is not big money. You can't do a test until you put some money out at risk. My Jury is still out on Bitcoin - and $100 of my money. Ha Ha.
Now down $83 on $205. What -- me worry ???? Not yet. LOL.
Down $67 right now, on $205.
Proof --
Bitcoin
ID 859582229
Buy
100 Contracts
C$ -41.00 DOWN on Position 1
C$ 103.82 Cost
Bitcoin
ID 859595389
Buy
100 Contracts
C$ -26.03 DOWN on Position 2
C$ 102.23 Cost
Currently. Around $205 IN. Currently down $22. Not concerned at all. I'll have to get it set up to survive over-night in bed. Should be O K. I'm playing the current mid-term trend -- which is UP. I sort of like this.
The Man Who Broke The Bank At Monte Carlo. LOL. Just did another long position. Now carrying 2. + or - $210 Canadian.
Now down $36. Let's see if this will rebound. Interesting !!!!!!!!!!
Right now I am down $29 -- big deal. If you pick the general trend each time - you will win. I picked it as an uptrend from here - however temporary. So far it is not going anywhere -- up or down.
You can't win if you don't get in !!!!!!!!!!!!! I'm now IN. Skin in the game. Ha Ha.
The big ha ha speculation is around $105 Canadian. Every dollar Bitcoin goes up or down on Mt.Gox I gain or lose a dollar. The percentages are good. To make 10 % on my little money I need BTC to move $10. I'm just doing a test right now. I WOULD NOT sell it short right now.
Thank you but what would I do with them ?? And YES I do have a Bitcoin Wallet -- currently EMPTY. LOL.