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    #16
    You can learn quite a bit from google and YouTube, unless your an old codger like myself that learned computing skills on an old Underwood manual back around 1974 and Texas Instruments still amazes you.
    Btw... I haven't learned enough from looking and listening to be able to help any, there's also a couple of podcast that talk about bitcoin and all things crypto.
    Last edited by tex4k; 08-18-2017, 04:31 PM.

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      #17
      Originally posted by rtp View Post
      Can you expound on crypto currency pyramid schemes.....havent heard of these.
      One is buying the machines, that mine the currency. You buy a machine for so much, and your in. Now you get your buddies to buy machines, etc., etc.
      Others were getting people to buy in on the promise of developing a mining company. Depending on where in the scheme you buy in, you own a % of all crypto mined, etc., etc.
      Another was Onecoin.
      There is a new one every week I'm pretty sure

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        #18
        Lots of people made $$$ buying Bitcoin, and lots of people lost money. Depends on when you got in, and who you invested with.

        Mt. Gox was the largest BC exchange and was responsible for nearly 3/4's of all worldwide transactions prior to 2014. Mt. Gox not only had some dishonest employees, but hackers ended up stealing lots of bitcoin from 127,000 customers accounts. Mt. Gox went out of business in 2014. Most of the "stolen bitcoin" has never been found, leaving investors with nothing.

        The most famous transaction occurred when a programmer on a Bitcoin internet forum paid another user 10,000 bitcoin to buy two Papa John's pizzas. A similar analogy to this transaction would be buying 2 cases of beer for your best friend, and he gives you $10,000 in Monopoly money. People literally thought this stuff was a joke and would never be taken seriously. Do the math on 10,000 bitcoin at todays market value of $4300 each. Somebody is laughing all the way to the bank.

        Honestly, I think it's gonna continue increasing in price. If you got deep pockets and are willing to roll the dice, go for it. Heck, if you had invested 5 weeks ago the price was $2200 per bitcoin. Todays value is referenced above; basically double your money in 30 days. Those who invested before January 2013 ($13) , with someone other than Mt. Gox made a killing on their ROI.

        .

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          #19
          I think a bitcoin runs for about 2000 usd

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            #20
            Bitcoin is over $4100 right now. It's up more than 600% over the past year. I'm playing a stock (DIGAF) that has had massive swings recently due to the price, but it's a fun game and you can make some money on it if you play it right.

            It seems bitcoin and other cryptocurrencies (like Ethereum) are going to have a significant presence in the future. But they also said Y2K was going to end the world....

            Something else noteworthy, there are only going to be 21million bitcoins ever made. Used to you would make money for making them, but ultimately this is a supply and demand game that looks to be in the favor of the purchaser right now.

            One more thing I thought of, Bitcoin is supposed to hit $4800 before pulling back to $3300 or so. This is an analyst opinion from Goldman Sachs, but you might wait and see. Buying near the peak is not typically a good idea. Bitcoin is a volatile beast, so be ready to make a lot or lose alot.
            Last edited by mzurovec; 08-18-2017, 05:50 PM. Reason: Adding info.

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              #21
              I would do good research on how you do any of this Bitcoin stuff. Make sure the folks you are dealing with are legit. I work at a federal prison and just
              in-processed a father/son duo out of Shreveport for this.......

              PROCESSED DEPOSITS & EXCHANGE OF BITCOINS(ELCTRNC & DGTL
              CURRNCY)WITHOUT LICENSE FOR MONEY SRVC BUSINESS,RESULTING IN
              CASH SMUGGLING OF $2,656,491.42 LOSS.

              One was sentenced to 106 months and I don't remember the other guys sentence.

              Just remember....
              The Feds don't like it when they don't get their cut!!

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                #22
                Originally posted by Cajun Blake View Post
                Lots of people made $$$ buying Bitcoin, and lots of people lost money. Depends on when you got in, and who you invested with.

                Mt. Gox was the largest BC exchange and was responsible for nearly 3/4's of all worldwide transactions prior to 2014. Mt. Gox not only had some dishonest employees, but hackers ended up stealing lots of bitcoin from 127,000 customers accounts. Mt. Gox went out of business in 2014. Most of the "stolen bitcoin" has never been found, leaving investors with nothing.

                The most famous transaction occurred when a programmer on a Bitcoin internet forum paid another user 10,000 bitcoin to buy two Papa John's pizzas. A similar analogy to this transaction would be buying 2 cases of beer for your best friend, and he gives you $10,000 in Monopoly money. People literally thought this stuff was a joke and would never be taken seriously. Do the math on 10,000 bitcoin at todays market value of $4300 each. Somebody is laughing all the way to the bank.

                Honestly, I think it's gonna continue increasing in price. If you got deep pockets and are willing to roll the dice, go for it. Heck, if you had invested 5 weeks ago the price was $2200 per bitcoin. Todays value is referenced above; basically double your money in 30 days. Those who invested before January 2013 ($13) , with someone other than Mt. Gox made a killing on their ROI.

                .
                I believe that case, was actually the first transaction ever, using bit coin.

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                  #23
                  I have been researching investing lately and just dont understand how people have the stomach for this. I remember not long ago bitcoin was in the $200-400 mark...now $4500. Its going to go back down eventually.

                  I just dont get how bitcoin is actually working. I see more and more online companies taking it but with the huge fluctuations and issues they have had (like MtGox) how can this survive?

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                    #24
                    Sounds like the entire concept is a Ponzi scheme to me.

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                      #25
                      After soaring nearly 65 percent in the last month, the digital currency bitcoin smashed the historic $2,000 mark on Saturday. The total market cap of the asset has likewise climbed to $32.92 billion.


                      coulda, woulda shoulda

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                        #26
                        Originally posted by 8mpg View Post
                        I have been researching investing lately and just dont understand how people have the stomach for this. I remember not long ago bitcoin was in the $200-400 mark...now $4500. Its going to go back down eventually.

                        I just dont get how bitcoin is actually working. I see more and more online companies taking it but with the huge fluctuations and issues they have had (like MtGox) how can this survive?
                        I don't understand how online retailers keep up with the exchange rate

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                          #27
                          I was going to join etoro but US citizens aren't allowed??? Thank you Obama

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                            #28
                            Originally posted by Grady_jones View Post
                            I think a bitcoin runs for about 2000 usd
                            see quote and my link below .... $4231.47 to be exact , however the markets changes every second

                            Originally posted by mzurovec View Post
                            Bitcoin is over $4100 right now. It's up more than 600% over the past year. nd game that looks to be in the favor of the purchaser right now.

                            https://www.coindesk.com/price/

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                              #29
                              Originally posted by Ironman View Post
                              Sounds like the entire concept is a Ponzi scheme to me.
                              The entire US monetary system is a Ponzi scheme. We aren't on the gold standard anymore. We print more money when we need to. We contract the monetary supply when we need to. There is a play to be made on the crypto currency market, I'm just not smart enough to figure out when that play is...

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                                #30
                                Following

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