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    #31
    Its a crazy market. We have a guy at work that's made a few hundred playing the market, and a little more mining them. Mining them is a geek endeavor that is pretty interesting.

    One of the entire "features" of bitcoins is that they are untraceable and untrackable. Its a dream for less than savory enterprises.

    So the question is do you have a need for a non-taxable, untraceable, and entirely virtually/speculative currency?

    fyi overstock.com is/was taking bit coins as are some auto dealers in certain areas.

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      #32
      Give me your money and i will give you some worthless paper that you are rich

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        #33
        I may have missed this reading earlier post, but one of the "regional" places that had these in Japan went bankrupt and investors lost everything. There was a news clip on it, but said other areas were still functioning?

        Sounds like a sophisticated scam, virtual blue sky selling. With any scam or Ponzi scheme there are always enough to buy into it supporting the structure until the house of cards comes tumbling down. There is nothing backing these up.

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          #34
          Originally posted by Loneaggie View Post
          So the question is do you have a need for a non-taxable, untraceable, and entirely virtually/speculative currency?
          I personally have no need for currency that is nor tangible or at least cannot be. The dollar may collapse & not be worth the cotton paper its printed on, but at least i can burn it or stuff my mattress with it.

          having said that having money that is theoretically untraceable is attractive, but only for hiding it from a government.
          Last edited by Playa; 03-06-2014, 06:43 PM.

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            #35
            Not sure just how long this technology will be around but the company I work for is building thousands of aluminum chassis for bitcoin processing. Basically they are super computers that run so much power they are water cooled. We build the chassis, front panel, fan mount and cover and ship them to a company in Richardson that does the integration work. They are projecting 200 a week!!! The volume is so high we designed re-usable shipping packaging.
            I think it will not last long unless the feds figure out how to regulate and tax this.

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              #36
              Originally posted by Loneaggie View Post
              So the question is do you have a need for a non-taxable, untraceable, and entirely virtually/speculative currency?
              well, the point is always either to spend it or to save it

              it's still compared in value in some other currency....switch from and then back to.

              is that a bad or good thing?

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                #37
                Bitcoins

                It's value is based on perceived value and amount in circulation. There is a finite number of bit coins that can ever be generated, and they are increasingly hard to generate(mine).

                I think they are neither good nor bad. It is an interesting subject I keep up with. The bankruptcies etc all deal with exchanges where people exchange them for other currencies. The major hacks target places that store the bit coins. It's no different than having cash stolen from a bank really.


                MtGrox was VERY VERY badly engineered and even more poorly managed. Other heist victims were also vulnerable.


                Time will tell.

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                  #38
                  Wasn't the founder or CEO found dead today in China?

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                    #39
                    Just today, Newsweek is claiming that they unmasked the Bitcoin founder, Satoshi Nakamoto... The mystery deepens...I will say it's wildly speculative but some people have made some serious money trading it...

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                      #40
                      Virtual Money = Virtual Girlfriend: 95% of what you want with anything real behind it. I heard Manti Te'o just inked a deal with them.

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                        #41
                        For me only if they will start putting them in the Monopoly games instead of play money

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                          #42
                          Just saw a report on Bitcoins on Fox.

                          The creator, who's always been a "shadowy" figure who's tried to remain anonymous was, apparently, unearthed. Some older Asian man who still lives with his mom and is the stereotypical "nerd." LOL!

                          They also mentioned that a major player in Bitcoin world was recently found dead in Singapore of "unnatural causes" and it's being investigated. She was related to a $500M loss of bitcoins that occurred in Asia recently. The money "vanished" and the people owning them lost everything. Pretty shady stuff right now, IMO

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                            #43
                            Bitcoins

                            Satoshi Nakamoto, a 64-year-old Japanese-American man worth an estimated $400 million in bitcoins, has a penchant for collecting model trains and a career shrouded in secrecy, Newsweek claims.


                            Autumn Ratke a 28-year-old American CEO of bitcoin exchange firm First Meta was found dead in her Singapore apartment on Feb. 28.




                            I think that, IF I has any money tied up in Bitcoin, I'd be scrambling to get it back out. The reports of Bitcoin firms collapsing and getting hacked keep rolling in. It's one thing to invest in new technology but it's a whole different ball of wax to invest in some shaft currency created out of thin air by a bunch of shadowy nerds with no real backing or regulation. Not sure you could find a higher risk investment.
                            Last edited by Horitexan; 03-07-2014, 10:58 AM.

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                              #44
                              Originally posted by GarGuy View Post
                              Well if you are a gambler, Today is the day to buy bitcoin! Lets pretend I dropped 500,000 in there right now. In a month we will see.
                              How much would you have lost?

                              How do you buy bitcoins anyway?

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                                #45
                                Originally posted by Horitexan View Post
                                http://www.foxnews.com/tech/2014/03/...ehind-bitcoin/

                                Autumn Ratke a 28-year-old American CEO of bitcoin exchange firm First Meta was found dead in her Singapore apartment on Feb. 28.




                                I think that, IF I has any money tied up in Bitcoin, I'd be scrambling to get it back out. The reports of Bitcoin firms collapsing and getting hacked keep rolling in. It's one thing to invest in new technology but it's a whole different ball of wax to invest in some shaft currency created out of thin air by a bunch of shadowy nerds with no real backing or regulation. Not sure you could find a higher risk investment.
                                Those dates are 2014.

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