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    There was a big sell off earlier and BTC is still going strong. People are starting to buy again...10K will be the new base soon, how far up will it go?

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      I have just read about it a bit but still dont get it. Where is the value coming from? What keeps it from devaluing down to nothing? It all just sounds imaginary and can all disappear into thin air just as it appeared from thin air.

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        How do you know the guy who created it ( which apparently has never been identified ) is not banking millions of "real" dollars of investors while it runs up in price/"value"? What makes the price increase other than the desire of people to buy in?

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          The value is in the supply and demand...only a set amount will ever be available, and they aren't all available now, they have to be mined. Mining them cost money, as competition to mine increases so does the cost as folks expand their server capabilities, electricity cost, etc...

          And the fact that many businesses are accepting bitcoin now legitimizes the currency.

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            Glad I threw 1000$ at it when it was .12 a pop!

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              Originally posted by 150class View Post
              Glad I threw 1000$ at it when it was .12 a pop!
              A TBH billionaire emerges...

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                Originally posted by topshot View Post
                The value is in the supply and demand...only a set amount will ever be available, and they aren't all available now, they have to be mined. Mining them cost money, as competition to mine increases so does the cost as folks expand their server capabilities, electricity cost, etc...

                And the fact that many businesses are accepting bitcoin now legitimizes the currency.
                When they have all been mined, and there is nothing to gain from mining, then what happens? Or the the value decreases and mining is no longer viable? If something has no intrinsic value, only due to supply and demand, and supply is ultimately fixed, isnt it destined to crash?

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                  Originally posted by In-Yo-Grill View Post
                  A TBH billionaire emerges...
                  Hello peasants.....

                  Wish it was a billion.... it’s only 82,666,666.67

                  I’ll sell fiddy % of it once it crosses 10,000$ and ride the rest to see what happens


                  That beings said I wonder how many “original buyers at .03 cents a pop” still own their bitcoins?
                  I’d imainge 100% sold already and they are all living luxuriously yet miserably knowing they could’ve been sooooooooooo muchhhhhhhhh richerrrrrrrrere if they sold now lol
                  Last edited by 150class; 11-28-2017, 06:16 PM.

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                    Originally posted by miket View Post
                    When they have all been mined, and there is nothing to gain from mining, then what happens? Or the the value decreases and mining is no longer viable? If something has no intrinsic value, only due to supply and demand, and supply is ultimately fixed, isnt it destined to crash?
                    They won't all be mined until 2140...You've got some time to buy in.

                    I do have a question about the mining fees. Who charges and collects the mining fees?

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                      Originally posted by miket View Post
                      How do you know the guy who created it ( which apparently has never been identified ) is not banking millions of "real" dollars of investors while it runs up in price/"value"? What makes the price increase other than the desire of people to buy in?
                      My veiw is this, its plausible that most of the trading world will be one currency some day. This will be detrimental to banks. Can you imagine no more debt cards tied to credit lenders by the 100s? And when it does happen it will be digital if not virtual.
                      So far bitcoin is working, millions if not billions in and out exchanges everyday. It's world wide and all you need is a cell phone app to any amount of money anywhere. In addition the privacy is nice.

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                        I'm making money on them.

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                          Originally posted by miket View Post
                          When they have all been mined, and there is nothing to gain from mining, then what happens? Or the the value decreases and mining is no longer viable? If something has no intrinsic value, only due to supply and demand, and supply is ultimately fixed, isnt it destined to crash?
                          It does actually have the value of "use" also. I can be spent. This was tested against gold recently in NYC. Someone walked around with some gold coins going merchant to merchant asking if they would take Gold- no one would. They then asked if they would take bitcoin and most would. From the coffee shop to kids daycare.

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                            10K and holding...

                            Looking forward to getting the Shift debit card.

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                              I tried to set up a bitcoin account a few years ago for a few reasons. One you can use it to play online poker and 2 because of a podcast about it. I went through a few steps and I was just a pain in the *** to set up so I never bought any.. Oh well lol

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                                Originally posted by 150class View Post
                                Hello peasants.....

                                Wish it was a billion.... it’s only 82,666,666.67

                                I’ll sell fiddy % of it once it crosses 10,000$ and ride the rest to see what happens


                                That beings said I wonder how many “original buyers at .03 cents a pop” still own their bitcoins?
                                I’d imainge 100% sold already and they are all living luxuriously yet miserably knowing they could’ve been sooooooooooo muchhhhhhhhh richerrrrrrrrere if they sold now lol

                                Well, the other day Rush was talking about a guy that bought a pizza with bitcoin when it first came out. He had to use a LOT to buy a pizza and is probably kicking himself pretty hard now. That pizza was probably worth at least a million dollars now.

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