BITCON... WHY its totally FLAWED

RetardedMonkey said:
Phiber said:
RM, I reckon there is an opportunity to offer LTC selling services ! That's if you can get your hands on some :)
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I can get some...

But I don't know how I'd go with this kind of volatility lol
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Hehe yeah agreed!
Also the platform through which to sell!
Because this is all so new, it is very difficult to have an idea of what is the norm.
Interesting times :)
 
Austacker said:
This has been very interesting. Seeing the change in thoughts and processes.

I am really keen to get some LTC and would be happy to sell some Silver at a price that should get some interest.

I have 8 NZ Ferns you can have them for 55 LTC's I just want to check the process etc... I will post Free as well to sweeten the deal.

Anyone interested let me know or just a couple for $hits and giggles :)
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Almost tempted, but not sure I can let these LtC go just yet haha
 
Bitcoin bubble grows and grows
Financial Times

http://webcache.googleusercontent.c...1284j0&sourceid=chrome&ie=UTF-8#axzz2PSzuv2uA

Some finance industry entrepreneurs have leapt at the opportunity. Exante, a Malta-based asset manager, set up a Bitcoin fund last year that was largely intended as a fun punt. Wealthy investors each put in $1,000 when Bitcoins were trading at $13 on the understanding they could lose the original investment. Exante predicted that public and media interest would take off when Bitcoins were trading at $100. Managing partner Gatis Eglitis claims they are now getting 20 calls a day from large asset managers looking to invest up to $100m.
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If they do, I think what will happen is that it will bubble up to some crazy number before falling back down to true market value.

I don't think that kind of money would be ready to jump in just yet, the market is still too immature.

But I wouldn't be surprised if similar "fun punts" weren't taken. And they can soon add up.
 
Bullion Baron said:
How do you know that JP Morgan doesn't have 1000 Bitcoin wallets, trading amongst their own accounts to control the price?
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Would need a hell of a lot more BtC's than that to change the game lol
 
https://www.spendbitcoins.com/places/

A very comprehensive and interesting list of places currently accepting BTC as a purchase currency for goods or services.

There is even a couple of overseas based Gold/Silver retailers.

I believe the gambling sites to be where the use of BTC will really take off, the near instant deposits and withdrawls and anonymity will be very appealing to most, and many online poker / casino's run up huge amounts of turnover yearly.
 
Bullion Baron said:
How do you know that JP Morgan doesn't have 1000 Bitcoin wallets, trading amongst their own accounts to control the price?
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Bitcoin is a free market. What ever happens happens.
Bitcoin is mainly about the fact that it is a currency. Price is a side issue. How does it function as a currency?.

JP Morgans far too busy manipulating silver.
 
Load of Bullion said:
How does it function as a currency?
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Anyone who has visited Silk Road for "research" purposes, or bought/sold legal items on there (they do exist), will tell you that it functions pretty damn flawlessly.
 
Wondering if this is turning into the longest thread on SS?

Anyone interested in a separate "Crypto-currencies" sub-forum? If so, please "Say Thanks" to gauge the level of interest.
 
willrocks said:
whinfell said:
Wondering if this is turning into the longest thread on SS?

Anyone interested in a separate "Crypto-currencies" sub-forum? If so, please "Say Thanks" to gauge the level of interest.
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Maybe we can start a bitcoin collection to influence GP.
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Wasnt it you that jumped up & down about bribery umm i mean sweeteners being unethical months ago ? :P Oh how things can change
 
longtime silver believer said:
Just started readind about "bitcoin".............I think bitcoin =tulips!
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Maybe best to read some more about it to get your head around it all:)
but no doubt this surely looks like a bubble right now! How big can it inflate & to what level will it correct are the questions

let's wait and see how this all pans out... this is totally unknown territory, anything could happen.
 
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longtime silver believer said:
Just started readind about "bitcoin".............I think bitcoin =tulips!
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The charts have risen off the scales. Sure "Tulips", Bitcoin has probably kicked some Tulip butt, Lol. I would hope everyone is aware of the historical Tulip chart and that it may apply to Bitcoin. Big deal. Who cares. Don't park your savings in Bitcoins unless you are prepared to lose them.
One could claim the same of silver here and there over the last 40 years or so.

Bitcoin is place to move currency, as that is what it is. If the price is high or low, who cares!. As long as they have a price, that is all you need for trading with them.
 
I find it rather hilarious how many people throw tulips around as the ultimate bubble.

I suggest those people do some research on the so called "tulip mania" and discover how little actual data is available to back up any of the claims from the time. In more recent years it has been suggested by some researchers that the whole tulip mania story is not much more than folklore blown way out of proportion, or at the very most it was limited to just a small handful of people.

At least you can accurately chart BTC from around 6c onwards and see evidence of the massive gains, unlike tulips where you need to rely on tall tales from the 1600's.

BTC rising around 13x this year is hardly anything special either, it returned like 3750x between roughly Jan 2010 - Jun 2011 (from $0.008 to $30.00 US).

I do understand why many on a silver/gold forum are so anti BTC though, afterall it is like a polar opposite to gold/silver, but no-one is ever going to 13x their cash in a few months on physical gold or silver and people hate to see others making money without them! :lol:
 
whinfell said:
Wondering if this is turning into the longest thread on SS?

Anyone interested in a separate "Crypto-currencies" sub-forum? If so, please "Say Thanks" to gauge the level of interest.
Click to expand...

This thread probably belongs in the currencies section. I don't see a need for a seperate crypto forum.

If that's what you are looking for go to bitcointalk.org
 
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