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    #61
    so lets say I have 100.00 dollars....i see where litecoin is 92...do i just buy one litecoin to get started? What is GDAX?

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      #62
      I remember reading an article where congress was trying to pass something related to "combatting money laundering, terrorist financing and counterfeiting act of 2017". If I rember correctly it mentions digital currency.

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        #63
        Originally posted by Texan55 View Post
        so lets say I have 100.00 dollars....i see where litecoin is 92...do i just buy one litecoin to get started? What is GDAX?
        Coinbase is a digital/online wallet. GDAX allows you to buy and sell crypto currency in real time values like the stock market.

        Beck is talking Bitcoin again right now.

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          #64
          If your scared do like I did. Get in hold it about a month and get out. I made 12k off 3 coins I purchased when it was 2100 a month or so ago. I got nervous at 6100 6200 and sold the 3 I had. I'm not looking back either... I'd buy it now while it's a buzzword and gaining popularity if you are going to do it. Trust me I don't see the value in it either.

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            #65
            These kind of things always remind me of a bubble...
            everyone oohs and ahhs at the magnificent size as it grows and grows... but at some point... theres a burst...

            that being said...wish i bought in earlier ...

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              #66
              Originally posted by systemnt View Post
              These kind of things always remind me of a bubble...
              everyone oohs and ahhs at the magnificent size as it grows and grows... but at some point... theres a burst...

              that being said...wish i bought in earlier ...
              The CME is said to start trading futures on BTC by mid December. I guess that would be one way the the gov't could get their hands on the money people are making on it.

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                #67
                Following

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                  #68
                  Originally posted by tps7742 View Post
                  I remember reading an article where congress was trying to pass something related to "combatting money laundering, terrorist financing and counterfeiting act of 2017". If I rember correctly it mentions digital currency.
                  I don't know a lot about bitcoin but I know the government has to be scared to death over it. Once you realize how much we get taxed, double, triple, quadruple taxed on everything it's crazy. Take the story of the $10 that a man gives as a deposit to the hotel, the hotel guy pays his bartender the $10, the bartender owes and gives it to his supplier, supplier owes and gives it to his whore, the whore pays back the hotel for rent, then the hotel gives it back to the original man who decides to not stay in the hotel and leaves town with the $10. 5 People pay taxes and the money was never really there(or was it?)

                  Plus every government prints billions upon billions of currency to stay afloat. Do people even realize how much they pay in inflation taxes due to printing of money?

                  Take either of these things away or partially away and our governments collapse.

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                    #69
                    Originally posted by BigValley View Post
                    Bitcoin is gaining popularity true, but it is going up based on the interest in it. For those of you purchasing or interested in purchasing bitcoin, could you see yourself buying and selling goods using bitcoin? I think there is a place in the marketplace for bitcoin, on the institutional side where it makes sense as an easy way to exchange currency, however for the individual consumer, I think bitcoin still has a very long and tough stretch ahead to make a dent in the marketplace. On the same token, I think gold is a terrible investment vehicle as well.

                    Ever heard of apple pay? samsung pay? android pay? google wallet? people use these services every day and paying with crypto is just as easy....once more merchants accept it.

                    You can also order a debit card, that spends from your bitcoin, so you can use it anywhere even withdraw cash from atm. I use one.

                    amazon is about to launch some crypto stuff as well. accepting it, their own marketplace exchange etc.

                    i dont think the current bitcoin will be the primary currency used for everyday transactions. its slow, fees are too high etc. either a fork will take it over or another currency will rise. there some that are instant and fee less.

                    as a currency, its just a better ledger system. your bank is just a ledger. the difference is you control your own money with the same conveniences as banking. the bank will invest your money, loan your money etc without asking you and giving you peanuts in return. if you are in control, you choose. this also means you are in control of your own security as well.

                    im a huge fan of the tech. especially ethereum smart contracts. research a bit on what it can do. used as a currency is the tiniest piece of it. https://ethereum.org/

                    Imagine a voting system. Every registered voter is issued a token and wallet. simply holding that token entitles you to a vote. each person could vote for every single bill and law introduced, elected officials etc. all on a smart contract on the blockchain. you cant hack it, alter it etc. it is verifiable by anyone. if it was as easy as opening a smart phone app or go online to vote i believe more would do it. by the people for the people.

                    you can create a company, where the shareholders vote on every major decision.

                    tons of uses are popping up. there is a new power company making partnerships that allow people to trade unused electric instead of selling it back to the electric company.

                    check it out, some really cool stuff being done. and anyone can do it.

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                      #70
                      Originally posted by wes122984 View Post
                      Ever heard of apple pay? samsung pay? android pay? google wallet? people use these services every day and paying with crypto is just as easy....once more merchants accept it.

                      You can also order a debit card, that spends from your bitcoin, so you can use it anywhere even withdraw cash from atm. I use one.

                      amazon is about to launch some crypto stuff as well. accepting it, their own marketplace exchange etc.

                      i dont think the current bitcoin will be the primary currency used for everyday transactions. its slow, fees are too high etc. either a fork will take it over or another currency will rise. there some that are instant and fee less.

                      as a currency, its just a better ledger system. your bank is just a ledger. the difference is you control your own money with the same conveniences as banking. the bank will invest your money, loan your money etc without asking you and giving you peanuts in return. if you are in control, you choose. this also means you are in control of your own security as well.

                      im a huge fan of the tech. especially ethereum smart contracts. research a bit on what it can do. used as a currency is the tiniest piece of it. https://ethereum.org/

                      Imagine a voting system. Every registered voter is issued a token and wallet. simply holding that token entitles you to a vote. each person could vote for every single bill and law introduced, elected officials etc. all on a smart contract on the blockchain. you cant hack it, alter it etc. it is verifiable by anyone. if it was as easy as opening a smart phone app or go online to vote i believe more would do it. by the people for the people.

                      you can create a company, where the shareholders vote on every major decision.

                      tons of uses are popping up. there is a new power company making partnerships that allow people to trade unused electric instead of selling it back to the electric company.

                      check it out, some really cool stuff being done. and anyone can do it.
                      Samsung pay and apple pay both use US backed currency as payment forms is what I'm getting at. I agree with you on the uses of the systems have a lot of potential. However, I'm looking at it from a currency/investment. Obviously the price has soared and it has been a great play as a high risk investment. Although I don't see it remaining that way in the long term.

                      I'll look into what you were referring to. I am definitely not an expert on this at all, just not quite ready to invest my money or others.

                      Seeing it as a currency, do you think there is a potential that people don't value the bitcoin as high as it is currently?

                      Sent from my SAMSUNG-SM-G890A using Tapatalk

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                        #71
                        use GDAX to avoid fees. I have been doin very well on Litecoin (LTC). Day trading bought me my Vortex Razor HDs I had an alert on my phone when BTC hit $3900 and was going to buy 4 coins. Chickened out and now look at it.... Would've dumped at 10k and been happy with 156% profits... smh

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                          #72
                          Originally posted by BigValley View Post
                          Bitcoin is gaining popularity true, but it is going up based on the interest in it. For those of you purchasing or interested in purchasing bitcoin, could you see yourself buying and selling goods using bitcoin? I think there is a place in the marketplace for bitcoin, on the institutional side where it makes sense as an easy way to exchange currency, however for the individual consumer, I think bitcoin still has a very long and tough stretch ahead to make a dent in the marketplace. On the same token, I think gold is a terrible investment vehicle as well.
                          Originally posted by BigValley View Post
                          Samsung pay and apple pay both use US backed currency as payment forms is what I'm getting at. I agree with you on the uses of the systems have a lot of potential. However, I'm looking at it from a currency/investment. Obviously the price has soared and it has been a great play as a high risk investment. Although I don't see it remaining that way in the long term.

                          I'll look into what you were referring to. I am definitely not an expert on this at all, just not quite ready to invest my money or others.

                          Seeing it as a currency, do you think there is a potential that people don't value the bitcoin as high as it is currently?

                          Sent from my SAMSUNG-SM-G890A using Tapatalk
                          the point is that one day we wont use USD. they can print it all day long. with a crypto they can set a set number to be minted and it wont change. ie 21 billion coins. as value goes up it can be spent in decimals. ie to buy a coke it may eventually be priced like .00015 shown on the price tag as just 15


                          speaking of, now imagine a war arises. instead of printing all the money we need. that money would have to be funded through the people, corporations, and foreign governments. if no one sees the point , the war doesnt get funded. some interesting concepts to ponder.

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                            #73
                            Originally posted by Throwin' Darts View Post
                            Just trying to make sense of this post and pulling out bits and pieces.

                            The US abandoned the gold standard in 1971. There isn't a single major country in the world using the gold standard anymore and hasn't been for quite some time but the recent run up in bitcoin is due to that? Not likely.

                            So fiat currency is only worth the paper its printed on but with bitcoin its not even worth a sheet a paper. So buy bitcoin?

                            The price of gold is being manipulated. What does that have to do with bitcoin? If you want to return to the gold standard and leave a fiat currency then gold manipulation is the very basis on what the gold standard operates on.

                            You don't think there are ways to manipulate a cryptocurrency? Or create more? You can mine for bitcoins and create more.

                            As more people buy bitcoin its price increases. Same for any other asset.

                            This post probably represents 99.9% of bitcoin investors. They don't know what it is, why it exists, or the economics behind it however they buy it because its the latest "investment craze" just like Iraqi Dinars, emus, and Florida condos.

                            That’s not quit what I was getting at, on most of the post. Maybe I didn’t explain it very well, so let me elaborate.


                            First, I am not saying getting countries off of the gold standard is what is driving bitcoin. I’m saying that investing in our own currency is not what it used to be so people are looking for alternatives. Because the gold price is being manipulated (even though most people don’t see or understand this is happening), you are not seeing a sharp rise in the price of gold. So people are going investing where the big profits are.


                            I understand fully that bitcoin prices can be easily manipulated and I am not saying that bitcoin is a great investment. I was explaining(in a poor way I guess) as to why bitcoin is so popular. Very few “investors” actually do any research. They just go by what will line the pockets of their financial planner without really looking into things.


                            Personally, my investments are with physical precious metals(not certificates). Do they have the highest returns? No. But precious metals have never been worth nothing. Keeping money in a bank is also a poor choice in my opinion. Those that are putting bitcoin down that also keep a large amount of money in the bank are hypocrites. Banks do not have your physical money on hand. They keep a small amount of cash on hand to cover day to day transactions. The money in your bank is just a number on a computer screen that can be hacked and changed, the same as bitcoin. The FDIC also does not even have enough funds to cover just one bank collapse. For example, if Chase bank were to collapse and you had all of your retirement funds in a savings account there, you MIGHT get $0.25 for each dollar you had in there, if you were lucky.

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                              #74
                              So to start buying and selling in this all you need is a coin base app? The way things are looking right now you would be goofy to not jump in.

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                                #75

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