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The Gambler in me wants to play. But now I'm at a stage where I cannot afford to lose. So - I must spectate. You can bet though that a few years ago I would have been IN for sure. This is all so unknown -- but certainly exciting. A conundrum !!!! It's a classic. A bit like the Fable about the Emperor's clothes. It took an innocent kid to note that the mighty Emperor was bollicks NAKED. I must say though that both Litecoin and Bitcoin are very very intriguing right now and impressive. GREED reigns supreme.
YES INDEED !!!!!!!!!!!!!!!! I'll join the team but only as a cheer leader right now. But I do not support the airey-fairey ness right now. Yes it's growing but let's see if it can keep up.
2014 is taking us into uncharted financial waters. No one can predict.
Yes Hooks you are probably right. But without me. Far too volatile. I'm trading on Plus 500 and they will not allow you to carry Bitcoin beyond the end of each day. I actually hope we can wrest control of our money AWAY FROM the Bankers and the FED.
Personally I believe this says it all ---
""" In the mainstream imagination, Bitcoin is either the second coming of the gold standard or a repeat of the Dutch tulip craze. That debate obscures everything that makes Bitcoin interesting and potentially important. """
When the Bankers of the World and the FED finally take serious notice of Bitcoin ( and we are just about at that point ) they will band together and arrange for the Politicians to KILL IT !!! Meanwhile keep trading them Tulips. LOL. MERRY CHRISTMAS !!!!!!!!!
YES !!!!!!!!! I'm a spectator. A Happy Camper. Merry Christmas to all.
So what is it that you are actually buying ?? Oh -- it's cyber currency !!! That's nice. Why don't you just use your credit card ?? The whole thing is a colossal joke. Just another speculative gambling game where you try to buy something low and sell it to a bigger fool who will pay you more for it. Utterly ASTOUNDING !!!!!!!! Good luck.
OH ???????????
On the contrary -- The Coup De Gras would be when it DOES get directly and irrevocably linked to an ounce of gold -- FOREVER !!!!!!! FORE GETT THE U S BUCK !!!!!!!!!!!!!!!!!! One Bitcoin = 1 ounce of GOLD. THEN you would have something.
The silly thing has no value !!!!!!!!!! One day you can buy 10 widgets per Bitcoin and the next -- maybe only 8. What kind of nonsense is that ?
Ha Ha --- All this craparooney is too much for an oldtimer like me. I'm 85 now. LOL.
Anyhow I love you all and I hope you all make dough !!!!!!!
Why don't you take a couple of seconds and tell us all you know about ANYTHING !! LOL.
It is uncool to brag !!!!!!!!!!!!!!!!
Right now I think that trading this is for experienced traders only. Far too volatile for the average person. And still far too many unknowns about Bitcoin's future. Have fun !!!!! If its future lies as an International Currency you can be sure the Bankers of the world will unite to try to kill it.
Maybe we may soon see that old adage -- " Don't bid for it -- You might get it !! ". LOL.
The Chinese may be crafty. If they can tank it -- they will be able to buy more. This may evolve into a very very high-stakes game. The little guy - Joe Sixpack - can get badly hurt.
I consider myself an average intelligent guy - albeit a Senior - but I am finding it extremely difficult to understand Bitcoin. For instance what in the heck are these algorithms that it is said YOUR COMPUTER has to try to solve if you wish to be a Bitminer ?? Is this some kind of a GAME ???? And there is a picture of an absolutely HUMUNGOUS sort of a computer in Hong Kong that generates huge heat as it churns through trying to mine Bitcoins. This is Science Fiction. Apparently you can buy and sell Bitcoin on Bitcoin Exchanges -- something like Hot Potatoes where a shmuck holder can get burned. And yet there was big big dough put into making that huge Bitcoin Miner with all that computing power. No doubt there is a profit to be made -- but not by the little guy. So where is all this going ?? Very very strange stuff.
Check this out --- http://money.cnn.com/gallery/technology/2013/12/17/bitcoin-mine/index.html?source=cnn_bin
This looks like the Biblical Beast. Scary as H !!!!!!
Just checked out the Mt.Gox Exchange in case I decide to trade BTC. It seemed a bit intrusive into privacy - so I'll have to think about it.
Very interesting. I like to trade at Plus 500 which is very popular -- but they make you day trade BTC. You must close your positions at the end of each day. Hmmm !!!
I want to put this one out for discussion. I'm just musing right now. It is written that the computing power assembled to date to keep Bitcoin humming is the most powerful on the planet to-day. The biggest of all time. Could this be BIBLICAL in size and do not laugh -- might this be the emergence of the Biblical Beast ?? In the future -- no computer, no I D, no registration ---- NO SOUP FOR YOU -- sorry YOU CANNOT BUY ANYTHING without Bitcoin. You are S O L. Scares the heck out of me -- but hedge-trader that I am I registered to-day and got my Bitcoin I D -- just in case !!!!!!!!!!!!!!!!! I am assuming my I D is one of a kind on this Planet. It certainly is long enough -- Ha Ha.
There is no denying that it is very interesting and is probably going to be a force to be reckoned with. All it will take is for China to adopt it as its National Currency. It could DESTROY the Buck. Big problem right now is that China has been HUNG on that very Buck by those crafty U S Bankers and Yankee traders. Over the years the Yankees have exchanged PAPER Bucks for SOLID ASSETS. Who is the winner there ?? The Yanks of course as long as the Chinese do not wake up. But if you factor in JOBS -- The Chinese win. If China eventually sez -- Take your Bucks and ' stick 'em ' it will destroy America. I think we are heading into some very serious times.
The major point about being a true currency or National Purchasing Unit is STABILITY. Forget that right now. One meaningful standard to which a National currency can be irrevocably tied is a basket of groceries in the supermarket. If we cannot eat -- we die !!!!!!!! How fundamental is that ? Bring in X Bitcoins and buy the SAME groceries time after time after time. ( Within a very very minimal fluctuation ). THEN YOU WOULD HAVE SOMETHING !!!!!!!!!!!!!!! This extreme volatility now in the Bitcoin right now rules out the above. But the concept is almost perfect. Trouble is the Bankers are so powerful they would fight that - tooth and nail. But Bitcoin is the way to go if it ever becomes our Currency.
Staying away right now from the airy fairy scairy world of speculating and spec stocks let's try to look ahead. A lot of the foundation for Bitcoin has genuine merit. In other words the ISSUING of any currency by the Gov. or things like the Fed must have some kind of ORDER. We do not have that in the world to-day. Bitcoin does. Present currencies ' FLOAT '. We might really have almost a Utopia if ALL Countries used something like Bitcoin. Bitcoin is a Monetary System that is tied to SOMETHING - and now computers allow us to TRACK each UNIT. You cannot do that with to-day's currencies. But to be completely successful - elected Governments in each Country must be able to ' Run ' the System in their own Country. And Tweek it occasionally for the good of the citizens. But I digress -- Let this GAME continue -- have fun - but watch you do not get burned. LOL. I won't be playing alongside you though. If I was younger and wealthier -- I probably would. LOL.
I just thought of a real standard for ANY currency - and it even applied to ancient times. One of the Muslim currencies is STILL the same to-day. How many currency units does it take to buy a pound of chicken ? Don't laugh. Think about it.
http://preev.com/btc/cad
But you can enter in any country and even the precious metals. Gold is XAU. Silver is XAG.
I would like to be a believer but so far I am not touching it. Here are my reasons. It must grow to be NUMBER ONE - there are too many clones now. Right now it is really NOT a currency -- far far far too volatile. It is but a mere speculative fad - and I ' play ' elsewhere. The idea is fantastic but it must first CONQUER the Buck and all the other ' currencies ' that have cloned it. A major Country must adopt it and use it -- like China ?? The world's Bankers will not go down without a fight. Another killer they use is Fractional Reserve Banking. We all know from Economics 101 that this is their way of increasing the money supply of Fiat Currency. Let them just lend out their own money. But no -- they lend out yours too. The greatest theft game in the world.
Pensive !!! It is ALWAYS easier to put your money IN to anything than it is to get it out. This is liquidity. It seems to work against us in a lot of things. I always check this out before anteing up. If I bot just ONE Bitcoin to put it in my Wallet, how fast could I get it out -- and would I get ALL of it like I do if I put dollars into my bank account and wish to withdraw them soon after ?
Man oh man -- there are a lot of Joe Sixpacks out here that will not be able to handle this at first. I'm one. Ha Ha.
This is highly intriguing. In other words for Speculative purposes you do not BUY Bitcoins. You EXCHANGE them from American or Canadian dollars. I note that you can do this for fractions of 1 Bitcoin. May I ask you - who appears to understand - do I need to - first - get a Bitcoin wallet ?? My interpretation is that everything has a code. And YOU don't actually own a specific Bitcoin -- you own the CODE for it. AMAZING. I remember there was a thing online a few years ago where you could actually track a Greenback using the serial number. Like -- where is it right now ?? Hilarious !!!
I'm turned on --- like never before. Since I was a kid I knew there was a better monetary System for the world. Recently I thought - for Obama - call in the TOP engineers and computer gurus in America ( as few as possible - I mean THE TOP few people - men or women ) and mandate them to come up with an entirely NEW system that works. I'm not saying Bitcoin is that System but it sure is a starting point to tweek. The proverbial THEY can't stop it. Thank you Bill Gates !!!!!!
Hey - may I comment ?? I do believe as the value of a single Bitcoin continues UP, it will be necessary to do stock splits like in the world of Wall Street. Bet on that !!!!!!! The man in the street needs to be able to put $100 in easily. THEN you would see it move !!!!!!!! UP. I am amazed that this all took so long to start up. It's starting to look like a Revolution to break the chains the Bankers keep us in.
Fantastic thinking !!!!!!!!!!!! What a great world we have shaping up now. The old-style Harrumph Bankers will soon be dinosaurs. LOL. And good riddance !!!
What I DOOO like however is that the Law of supply and demand is infallible. The supply of Bitcoin is irrevocable and it is set already. As more and more people buy them the availability gets ever less. THEREFOR -- the unit price HAS TO GO UP !!!!!!!!!!!!!!!!!!!!!!!!!! I might even put $200 into that premise for the future. Just hold it. Oh B T W -- anybody ?? -- are there actual solid COINS ???????????? I would doubt it - because these can be easily cloned.
Aw that's O K but yesterday I thought I would see what Bitcoin miners are all about. Maybe I could make a buck ??? I downloaded the Program like they said --- then I tried to figure it all out -- I could not. So I threw it all out. Not to say though that there is not anything to it. But too complex for me.
Yeah I like all that -- but what I do not like is that already there are several clones doing the same thing but with different names. This type of thing cannot become a global force until there is only one. THEN -- everything will get compared to it, and it will be stable. Yes just like the old Gold Standard. Darn that Nixon guy !!!!!!!
Here is an ominous example -- from the L A Times recently -- as to why the bitcoin must eventually say get lost to the U S Buck -- and we do not need you anymore. Guy #1 brings in Bucks and buys Bitcoin. Then he transfers the Bitcoins to Guy #2 his friend -- all electronically. Zip zip zip -- done. Guy #2 goes to exchange the Bitcoins back into U S Bucks. But now the exchange rate has been devastated and he can only get 75 % of the Bucks his buddy brought in.
I find this fascinating -- and there really is something to the phenomenon. But to be truly meaningful -- Bitcoin would have to be King Of The Hill and completely divorced from the Buck and all the other currencies. Then to be ultimately perfect it should be permanently tied to gold. THEN you would have something. And also to something else like the value of one hour of work for a skilled tradesman. Or some energy unit. These fundamentals would stay the same and give the world some stability which is lacking now.
NOTHING BACKS THE DOLLAR !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! And therein lies the problem we have in the Economy to-day. The Fed can manipulate it.
Problem is it is not backed by anything physical. It is far far too volatile and is more of a gimmick sucker game. Backing by a person or group means perhaps believing in it but basing it on something physical is entirely different. Until it can destroy the purchasing power of the Buck it will be at the mercy of the Fed.
I am highly skeptical about Bitcoin. I think it is merely a new trading game for greedy Yahoos.
You can get skinned SO fast. Any true emerging world wide saviour ' currency ' will be backed by SOMETHING physical. This one most certainly is not. I had hoped that it would be. It is fiat - just like all the rest. There is NO stability to currencies like these. It's just another Gimmick.
It does not take much hard thinking to remember who was in that big tout gang that Ken paid off with stock. Some of them even travelled to Newfie to pick it up privately. Those people are criminals !!!!!!!!!!!!
I'm amazed this scam is still going. What happened to that old scamster who got them into that worthless Ghana property ? Terrible terrible bunch of 2-bit con artists. LOL.