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  1. #31
    Moderator BIGLRY's Avatar
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    Quote Originally Posted by MisterB View Post
    Humm...
    "NEW YORK—Saying it may account for the precipitous drop in the digital currency, financial experts on Friday told reporters that the recent plunge in bitcoin value could reveal vulnerabilities in crazy imaginary internet money. “This should serve as a clear indicator of how susceptible weird invisible money that only exists online can be to sudden fluctuations in the market,” said economist Bernard Gregerson, explaining that the 18 percent decline in bitcoin’s value might be a predictor of more drastic fluctuations to come in the price of bizarre make-believe cryptocurrency that has no reality in the physical realm. “This volatility may be connected to the fact that we’re dealing with a pile of ones and zeros with no attachment to any bank or government and calling it legal tender, but we can’t say for certain.” At press time, bitcoin had recouped some of its losses, which experts attributed to the fact that even ghost money best suited for anonymously buying heroin could sometimes rebound."


    Yea...I love that line "ghost money best suited for anonymously buying heroin"

    The guy who invented the first wheel was an idiot -
    the guy who invented the second one... he was the genius!


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  2. #32
    Admin - Chief poop scooper Phantom's Avatar
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    Quote Originally Posted by MisterB View Post
    The ONION is a Satirical website, over the years it has created some funny reports solely for entertainment.



    Successful people build each other up. They motivate, inspire and push each other. Unsuccessful people just hate, blame and complain.

  3. #33
    Moderator BIGLRY's Avatar
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    Quote Originally Posted by Phantom View Post
    The ONION is a Satirical website, over the years it has created some funny reports solely for entertainment.

    Yea they do some funny stuff, always good for a laugh.

    The guy who invented the first wheel was an idiot -
    the guy who invented the second one... he was the genius!


    http://theringfinders.com/blog/Larry.Royal/

  4. #34
    Senior Member MisterB's Avatar
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    Quote Originally Posted by Phantom View Post
    The ONION is a Satirical website, over the years it has created some funny reports solely for entertainment.
    Yep, my point is that a certain level of notoriety is required before you will appear in the Onion or MAD.
    Regarding Bitcoin, when it started out it seemed like it was going to be some cool, counter-culture, underground way of making payments off the grid or bypassing traditional methods.
    It doesn't look like that any more.

  5. #35
    Senior Member willtill's Avatar
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    More stuff to make your head spin

    Bitcoin mining 101

    https://www.bitcoinmining.com/


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  6. #36
    Senior Member Davidk's Avatar
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    Now you have gone and done it! This is why we can't have nice things

    North Korea is hacking bitcoin exchanges as currency value soars, expert says

    http://www.foxnews.com/world/2017/12...pert-says.html
    If you are not part of the solution, YOU are the problem.

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  7. #37
    Senior Member Davidk's Avatar
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    The bitcoin whales: 1,000 people who own 40 percent of the market

    On Nov. 12, someone moved almost 25,000 bitcoins, worth about $159 million at the time, to an online exchange. The news soon rippled through online forums, with bitcoin traders arguing about whether it meant the owner was about to sell the digital currency. Holders of large amounts of bitcoin are often known as whales. And they’re becoming a worry for investors. They can send prices plummeting by selling even a portion of their holdings. And those sales are more probable now that the cryptocurrency is up nearly twelvefold from the beginning of the year.
    About 40 percent of bitcoin is held by perhaps 1,000 users; at current prices, each may want to sell about half of his or her holdings, says Aaron Brown, former managing director and head of financial markets research at AQR Capital Management. (Brown is a contributor to the Bloomberg Prophets online column.) What’s more, the whales can coordinate their moves or preview them to a select few. Many of the large owners have known one another for years and stuck by bitcoin through the early days when it was derided, and they can potentially band together to tank or prop up the market.
    “I think there are a few hundred guys,” says Kyle Samani, managing partner at Multicoin Capital. “They all probably can call each other, and they probably have.” One reason to think so: At least some kinds of information sharing are legal, says Gary Ross, a securities lawyer at Ross & Shulga. Because bitcoin is a digital currency and not a security, he says, there’s no prohibition against a trade in which a group agrees to buy enough to push the price up and then cashes out in minutes.

    Regulators have been slow to catch up with cryptocurrency trading, so many of the rules are still murky. If traders not only pushed the price up but also went online to spread rumors, that might count as fraud. Bittrex, a digital currency exchange, recently wrote to its users warning that their accounts could be suspended if they banded together into “pump groups” aimed at manipulating prices. The law might also be different for other digital coins. Depending on the details of how they are structured and how investors expect to make money from them, some may count as currencies, according to the U.S. Securities and Exchange Commission.
    Asked about whether large holders could move in concert, Roger Ver, a well-known early bitcoin investor, said in an email: “I suspect that is likely true, and people should be able to do whatever they want with their own money. I’ve personally never had time for things like that though.”
    “As in any asset class, large individual holders and large institutional holders can and do collude to manipulate price,” Ari Paul, co-founder of BlockTower Capital and a former portfolio manager of the University of Chicago endowment, wrote in an electronic message. “In cryptocurrency, such manipulation is extreme because of the youth of these markets and the speculative nature of the assets.”

    https://www.msn.com/en-us/money/mark...ocid=thanksDHP
    If you are not part of the solution, YOU are the problem.

    Where the people fear the government you have tyranny. Where the government fears the people you have liberty.

  8. #38
    Senior Member Walcrow's Avatar
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    Spend a few minutes listening to this billionaire.......he covers both sides of the argument for and against Bitcoin.

    https://youtu.be/DozrRY2NENU

  9. #39
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    Anything goes in today's crazed world and Bitcoin is one of those deals....I suppose some will get rich, others will lose their shirts, but for me and my little world I will stay away from "get rich schemes" as I desire not to run the risk as I get older...I have a few small investments which keep me going and I have no plans to change to something this un-predictable....I guess it is like the lottery, if you don't play the thing you will never win, or lose!!!.....JMHO and ride safe..

  10. #40
    Admin - Chief poop scooper Phantom's Avatar
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    Well Bitcoin is about the same as it was 2 weeks ago around $16,500. It spiked to $19,800 and dropped to $14,800 along the way.

    This madness, it will drive someone to drink



    Successful people build each other up. They motivate, inspire and push each other. Unsuccessful people just hate, blame and complain.

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