BitCoin at Parity with Silver!

Discussion in 'Digital Currencies' started by Gold Kiwi, Feb 22, 2013.

  1. Gold Kiwi

    Gold Kiwi New Member Silver Stacker

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  2. goldpelican

    goldpelican Administrator Staff Member

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    Hmm that BitCoin graph is starting to look a little parabolic.
     
    heartastack likes this.
  3. rbaggio

    rbaggio Active Member Silver Stacker

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    Be interesting to overlay that graph with a tulip graph from the 1600's

    PS. I like the concept of bitcoins
     
  4. hawkeye

    hawkeye New Member Silver Stacker

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    36 now.

    It's not a bubble because it is still virtually unknown and the amount of people who own bitcoins is a tiny percentage of the population, less than 1%.

    If you increase the scale of the graph it probably wouldn't look so parabolic. Plus, it already had a parabolic rise from the few cents level.

    36 x roughly 10 million coins = $360 million economy. Still tiny on the global scale. That's $1.80 per Australian or just over $1 per American. Plenty of room for growth I would say.
     
  5. pro$pector

    pro$pector New Member

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    Anyone see it hit $49.10 US today then smash back to high $30's.

    This is waaaaay more fun than silver or gold or even shares right now!

    Bid/ask spread is over $15 at the moment...wow.

    I'm talking Mt. Gox prices here just to clarify.

    Volume of nearly 200,000 units too.
     
  6. Cind3r

    Cind3r Active Member Silver Stacker

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    $48 at the moment.

    Im getting excited!!! I mined a bunch of these little coins a year or so ago... boy have they grown in value :)

    Time to sell i think? im not a risk taker, 300% is a good margin :)
     
  7. renovator

    renovator Well-Known Member

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    Good for you cind3r. 300% is a great profit in a year .. I asked if anyone was taking profit a couple of weeks ago & not a lot were .. If i was in bitcoin i would at least take enough profit to recoup my outlay then your essentially gambling for free.

    Im afraid many will miss the boat & greed will keep them in the game like most investments .. Theres a chance it will go higher but theres also a chance it will go backwards .Something that is backed by nothing will always be a gamble .& personally i think anyone not taking a little profit just incase is off their rocker
     
  8. DanielM

    DanielM Active Member Silver Stacker

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    Might want to recalculate
     
  9. madcowinc

    madcowinc Member

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    Man...wait till it goes back to 3.80. Although not sure if it will get back from that... I got some for free from various sites a while back and worth about $60 atm. i think I will trade for fiat now.
     
  10. renovator

    renovator Well-Known Member

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    Youve said some stupid things before but this takes the cake .

    R/E can never be worth zero & it can produce an income .It has absolutely nothing to do with speculation .. If all else fails you can live in it . Good luck camping in your bitcoin wallet
     
  11. pro$pector

    pro$pector New Member

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    Nice gag!

    You might want to mention this to some Japanese property "not-speculators" from the 90's.
     
  12. renovator

    renovator Well-Known Member

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    yep u bet it was I can live with my mistakes . . If you can tell me what that has to do with bitcoin i would be amazed or are you just being childish dragging up totally unrelated dirt because i hurt your feelings :lol: In the couple of years ive been here i made one post which was incorrect which was a misread graph . So flog me for it.. If you want to play that game just remember it works both ways :)
     
  13. renovator

    renovator Well-Known Member

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    :lol: even edited in the link now you little sook . Go hard .....
     
  14. renovator

    renovator Well-Known Member

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    Are we living in the 90s ?
    Its 2013 . :rolleyes:
     
  15. pro$pector

    pro$pector New Member

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    Property has nothing to do with speculation, as I said...nice gag! :lol:
     
  16. Dogmatix

    Dogmatix Active Member

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    Low income earners with multiple properties, paying interest only, leveraged to the hilt on the hope that greater fools wil push the bubble higher... That is speculating.

    Even buying stocks with sky-high P/E ratios is speculating. What's the P/E ratio of an interest only 'investment' property?

    Haha. Anyway, back to the bitcoin saga, it smells like tulips.
     
  17. Aengrod

    Aengrod Member

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    Not only at Parity with Silver, but has higher intrinsic value than either Gold or Silver :eek: New Paradigm! New Paradigm!
    We all gonna be rich, as its not the banking wizzzzzzzards but tech eggheads/wizzzzzzzards found a sure way to prosperity! :rolleyes:
    Embrace, celebrate and enjoy.
     
  18. hawkeye

    hawkeye New Member Silver Stacker

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    I did consider taking my initial outlay, but the truth is that it's money I can afford to lose. I certainly don't need it at this point in time. There are certainly no guarantees, but there are investments that make spectacular gains and I think this has the potential to be one of them. I'm mentally prepared to lose it all. It is a small fraction of my overall portfolio.

    Yes it went parabolic, but it's been parabolic before when it went from fractions of a cent up into the dollar range. The key difference between this and tulips and Oz real estate is that tulips and Oz RE are/were saturated. Society is/was well aware of these two and their potential for capital gains whereas btc is still on the fringes and largely unknown.

    The money system is one that needs to be solved. The current one's are not adequate for the digital global age and government has suppressed market alternatives up to now. Will Bitcoin be the answer or will something else be? I don't know, but btc is first to market and looks like it has potential.

    The major risk at this point that I see is that as Bitcoin rises, government will see it as a threat to it's monopoly, demonise it and give corporations like maybe Google, Apple, Amazon, etc the rights to create and run their own digital currencies so that government can by default still control the currency to some extent. Although, they will have to give up much of their power over currency. Right now they are deluding themselves that they will still have complete control over currency forever. Not going to happen. Customers are then more likely to flock to the ones run by these companies if Bitcoin hasn't adequately established itself. That's what I'm keeping an eye out for. Google have already expressed an interest in creating a digital currency.
     
  19. renovator

    renovator Well-Known Member

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    I think your last paragraph is where lies the problem .

    I understand theres some that are willing to lose the lot but that isnt the mindset for success imo .I dont want to lose anything if i can help it & if given the chance to realise profit i will never hesitate to recoup my outlay .......never.

    I have never done anything with the thought process of "oh well if i lose everything thats ok " again imo...... its not .

    Good for you guys im happy for anyone that kicks a goal. It just amazes me that your prepared to lose everything no matter how small the investment .
     
  20. hawkeye

    hawkeye New Member Silver Stacker

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    Well, I guess the way I am looking at it is, I don't need the money at the moment, there is nothing in particular that I want to buy in that range of money and I'm not strapped for cash for the regular things in life.

    So, basically I would be looking for something else to invest the money in. There's nothing else that has piqued my interest at the moment, apart from silver but I am already as heavily invested in that as I want to be. Bitcoin still looks like the best opportunity around so why not leave my money there? In saying that I have used a few bitcoins to buy a couple of things that I wanted and it felt great because it felt like I got the goods for 75% off. :D No cap gains if I use them to buy things either.
     

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