Then do it Dave, and at the same time, quit belching your idiocy about something you know NOTHING about.........FINI
Then do it Dave, and at the same time, quit belching your idiocy about something you know NOTHING about.........FINI
Thank you ... I never knew anything about them or that they even existed. Now I want a bunch of them, but can't even afford oneOriginally Posted by Walcrow
Michael Dell of Dell Computers takes Bitcoins for payment. Provident Metals here in Dallas takes Bitcoin for any of their products, i.e. Monster Boxes of Silver Eagles, Gold, etc. A Bitcoin was "worth" nothing about 8 years ago. Today they are at $11,000 per coin and the projection is that they will hit $20,000 to possibly $30,000 by spring. There are only 21,000,000 that will ever be "available" and 16,714,200 have been mined, or have been produced by miners to be bought, sold, or held. Miners are awarded 12 Bitcoins when they solve complicated algorithms pertaining to the blocks of transactions on the blockchain. There are huge buildings around the world in China, Iceland,etc. loaded with thousands of computers that are mining to solve those algorithms and be awarded those 12 coins now worth over $112,000 today. Once a miner gets awarded those 12, the algorithms get harder to solve. Bitcoins are not a fiat currency like our dollars. They are worth whatever someone is willing to "pay". Homes, Ferrari's, Lambo's, etc. have all been purchased over the years with Bitcoins with more and more businesses accepting Bitcoin. It's a peer to peer arrangement that leaves the bankers out of the loop. There are rumors that the Fed might be working on a Fedcoin as the popularity of Bitcoin grows. Many scoff at Bitcoin and predict that they will someday end up worth zero. That may well be true, but the Monster Boxes of silver in my safe will most likely NEVER be worth zero........and they were purchased with BITCOINSSo as the Fed sits in D.C. and manipulates and prints money like toilet paper, I'm sticking with the finite number of Bitcoins that will ever be mined.......and there aren't many left. IF my Honda dealer would get on board and take 'em, I'd be buying the new Wing next spring with about 2 of them, and that's today. Probably one coin will buy one by next March or April.
P.S. A wallet is basically a secure OFFLINE way to keep Bitcoins. Exchanges like Coinbase can hold them, but that's like keeping your gold and silver in a safe deposit box at the bank. Happy that I wasn't in Greece when they locked the banks up a while back and you couldn't get anything out that you thought was yours. Bitcoins should always be held on your person under what is called a "private key". When you have that private key, YOU and only YOU own those Bitcoins, not some exchange. You don't keep gold in someone else's safe. Same with Bitcoin. Bitcoins are complicated to understand but easy to purchase. It's best to find a mentor who knows what and how it's done and has been in it for some time. If they have for years, and bought them when they were $1 or even $100, they most likely have retired by now.When did Bitcoins start ???
Sounds like a pyramid scheme to me. Great for those who got in early, and bad for those who get in late. It will be interesting to watch this unfold ...
Albuquerque, NM
They became available around 7 years ago. Since that initial period, $100 then would have a VALUE of $140,000,000.00 today. Here's an interesting Facebook post by Andrew Athan..........Thank you ... I never knew anything about them or that they even existed. Now I want a bunch of them, but can't even afford one
Andrew Athan
December 1 at 10:46pm ·
I note today that the CFTC has approved bitcoin futures to start trading, and that the date is currently set at Dec 18 (other sources state Dec 11). This is a watershed moment for bitcoin and bitcoin exchanges. Do not be asleep at the wheel on the first day of futures trading, or for the days following. Monitor market activity closely, and protect your investment according to your informed opinion, and try to avoid making your trading decisions based purely on emotion or “what everyone else is doing.” That being said, if you don’t feel qualified to make a trading decision for yourself, you may want to follow the advice of someone who is well informed, and that you trust (and you might also want to ask yourself if you’re just betting on the roulette).
Commencement of trading in bitcoin futures means exposure to the movements in bitcoin’s price will be made available to the vast hedge fund industry (with over $3T of assets under management), without trading bitcoin directly on the largely problematic, understaffed, underpowered bitcoin exchanges. Instead, these fund managers will be able to trade based on the cryptocurrency’s price fluctuations directly on the CME and other exchanges (such as NASDAQ). That’s not to say all of that hedge fund money will go into trading bitcoin futures, but some of it will.
The contracts are USD denominated and paid out according to the “BRR” (Bitcoin Reference Rate: http://www.cmegroup.com/tradi…/cf-...rence-rate.htm). This BRR is essentially “the price of bitcoin according to CME,” and will be calculated on the basis of data provided by a few bitcoin exchanges. Namely, Bitstamp, GDAX, itBit and Kraken. You can draw your own conclusions about how the CME feels about those exchanges relative to others in the ecosystem.
The contracts will initially carry a 35% margin rate, but speculation is that this rate may go as low as 10% at some point. This means futures contracts may be purchased for between 3x and 10x the value of your deposits at your broker. In other words, the bitcoin hedge funds that currently hold about $2-3B in assets, will be able to leverage that at least 3x, to bet on the movement of bitcoin using futures. However, I am uncertain as to whether they’ll be able to do that without actually converting their bitcoin holdings into USD first.
The contracts will be for 5 bitcoin at a time, and priced at $5 increments. This means that you can’t make bets on less than a $5 movement in the price of bitcoin, and it also means that to buy a single contract, you need ~$50k, or enough deposits to meet the 35% margin requirement (i.e., ~35% of $50k). The price fluctuation of the contracts at CME will be limited to 20% per day.
You’re probably wondering how trading futures at the CME matters to trading bitcoin on existing exchanges. The answer is that, via the activity of arbitragers, at least long term, after a period of volatility, the prices at CME and exchanges should be in direct correlation.
Take a quick look at https://coinmarketcap.com/currencies/bitcoin/#markets. You’ll see about $7B of bitcoin was traded today. NASDAQ traded 2.4B shares valued at $133B. NYSE appears to be doing about half that. Futures markets and FX markets are ~5x and ~50x larger, respectively. Take away: Bitcoin exchanges are small.
A gorilla is about to enter the room.
98........Sounds like a pyramid scheme to me. Great for those who got in early, and bad for those who get in late. It will be interesting to watch this unfold ...
In June of 1997, Amazon was $1.50 per share. Today it closed at $1134.00. That's a 66,600% return. Is Amazon a pyramid scheme? I think not. Many got hammered in 2008 in the market. Is Wall Street a pyramid scheme? Again, I think not. Bitcoins are not for everyone, I agree. But for those who have purchased them, and continue to purchase them, and one can buy 1/1000 of a Bitcoin today, have seen and will see returns that will cause them to curse the day they didn't buy even a sliver of a Bitcoin. In May of 1982, Apple was .20 cents per share. Wish I'd bought 10,000 shares back then. Today it's worth $1,670,000.00. The majority of humanity has no clue what a Bitcoin is and the analogy of Bitcoin to Amazon and Apple is apparent. Those who wish to jump on the BTC train will be pleased they did. Some see Bitcoins as trash, others like myself see the treasure. To each their own. FYI, tomorrow, time allowing, I'll probably take 1 Bitcoin and buy 8 American Gold Eagles @ $1345 per Eagle......and that's NOT a pyramid scheme.
Yeah, Wall Street is somewhat of a pyramid scheme, in that prices are manipulated. Suckers are sought for and found. Still, not the same as bitcoin. And I am sure that you know that already.98........
In June of 1997, Amazon was $1.50 per share. Today it closed at $1134.00. That's a 66,600% return. Is Amazon a pyramid scheme? I think not. Many got hammered in 2008 in the market. Is Wall Street a pyramid scheme? Again, I think not. Bitcoins are not for everyone, I agree. But for those who have purchased them, and continue to purchase them, and one can buy 1/1000 of a Bitcoin today, have seen and will see returns that will cause them to curse the day they didn't buy even a sliver of a Bitcoin. In May of 1982, Apple was .20 cents per share. Wish I'd bought 10,000 shares back then. Today it's worth $1,670,000.00. The majority of humanity has no clue what a Bitcoin is and the analogy of Bitcoin to Amazon and Apple is apparent. Those who wish to jump on the BTC train will be pleased they did. Some see Bitcoins as trash, others like myself see the treasure. To each their own. FYI, tomorrow, time allowing, I'll probably take 1 Bitcoin and buy 8 American Gold Eagles @ $1345 per Eagle......and that's NOT a pyramid scheme.
Albuquerque, NM
Rather interesting stuff, but what does this have to do with F6b's?98........
In June of 1997, Amazon was $1.50 per share. Today it closed at $1134.00. That's a 66,600% return. Is Amazon a pyramid scheme? I think not. Many got hammered in 2008 in the market. Is Wall Street a pyramid scheme? Again, I think not. Bitcoins are not for everyone, I agree. But for those who have purchased them, and continue to purchase them, and one can buy 1/1000 of a Bitcoin today, have seen and will see returns that will cause them to curse the day they didn't buy even a sliver of a Bitcoin. In May of 1982, Apple was .20 cents per share. Wish I'd bought 10,000 shares back then. Today it's worth $1,670,000.00. The majority of humanity has no clue what a Bitcoin is and the analogy of Bitcoin to Amazon and Apple is apparent. Those who wish to jump on the BTC train will be pleased they did. Some see Bitcoins as trash, others like myself see the treasure. To each their own. FYI, tomorrow, time allowing, I'll probably take 1 Bitcoin and buy 8 American Gold Eagles @ $1345 per Eagle......and that's NOT a pyramid scheme.
I thought this was a motorcycle forum...not a financial debate
Pumper
YIKES,
$15,4000
Where is the ceiling ?
Successful people build each other up. They motivate, inspire and push each other. Unsuccessful people just hate, blame and complain.
Nope. Try $16,687 as of 10:51am CST. There is no ceiling since there will only be 21,000,000 issued coins. Finite supply, unlimited demand. Old predictions are now being tossed aside as to the price. What would a gallon of water go for if there were only 21,000,000 gallons available for the planet, forever. What would that ceiling price be?
Another hack. http://money.cnn.com/2017/12/07/tech...ing/index.html
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