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  #81  
Old 20 November 2017, 18:05
ramzmedic ramzmedic is online now
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Originally Posted by DirtyDog0311 View Post
I remember seeing it back in the day for like $10 or $20 per coin. I was trying to buy some just as a gag but the process to purchase was so convoluted I eventually gave up.
I've heard this many times. All the "dark net" shit just seems like a huge problem.

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Originally Posted by DirtyDog0311 View Post
Damn I wish I got into that.
I, and many others, say the same thing about gold. Look at the price of gold in 2001 ($271) and look now (~$1270). HUGE increase!

Profit potential NOW is damn scary! If you bought coin below $300, sell 1/2 now and keep the remaining coins for bartering in the apocalypse!
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  #82  
Old 20 November 2017, 18:13
DirtyDog0311 DirtyDog0311 is offline
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I'm into the gold/silver because it's easy enough, artificially low as hell right now, and has a $5000 track record of absolutely never being worth zero.

IMO, bitcoin are tulip bulbs. If you can make a smooth mint off of speculating with them and playing hot potato to pass onto the next sucker, good on ya. But I wouldn't be holding onto it for the long term at all.

And the BTC was convoluted in the fact that I had to create a "wallet", go to some shady site and enter in my credit card info, could NEVER lose the address of the BTC wallet (otherwise whatever BTC is in there would be lost forever), and fuck around on the dark web a bit. Too much of a pain in the ass to do at the time. Fuck if only I had a time machine.......
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  #83  
Old 20 November 2017, 18:17
ramzmedic ramzmedic is online now
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Originally Posted by DirtyDog0311 View Post
could NEVER lose the address of the BTC wallet (otherwise whatever BTC is in there would be lost forever).......
I've read where people "mine" for computers, even stealing them, to take the HDD in order to steal the BTC on them.
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  #84  
Old 20 November 2017, 18:25
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Bitcoin reached a new record over the weekend, surpassing $8,000 for the first time, Bloomberg reports. The digital currency has seen volatile price swings, but is now up 26% in November, and 700% for the year. As the cryptocurrency’s value continues to grow, investors have made moves to bring it into the mainstream: “Even as many skeptics call the asset a bubble waiting to pop, it’s becoming too big for many on Wall Street to ignore. The digital currency is gaining the acceptance of professional investors, with CME Group Inc., the world’s biggest exchange, poised to start offering futures trading on bitcoin next month,” Bloomberg writes.
Screw that. Who'd invest in that if you can put your money into a badass mutual fund..../sarcasm
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  #85  
Old 20 November 2017, 18:27
ramzmedic ramzmedic is online now
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Screw that. Who'd invest in that if you can put your money into a badass mutual fund..../sarcasm
Asbestos, thing of the future!
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  #86  
Old 20 November 2017, 18:30
DirtyDog0311 DirtyDog0311 is offline
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“Even as many skeptics call the asset a bubble waiting to pop, it’s becoming too big for many on Wall Street to ignore. The digital currency is gaining the acceptance of professional investors, with CME Group Inc., the world’s biggest exchange, poised to start offering futures trading on bitcoin next month,”
That should be a HUGE red flag. At least for me it is. When "Big Greed™" starts turning it's Sauron-eye, you know it's time to bail. Fucking wall street will pump and dump that shit like there's no tomorrow. "Oh man my Taxi Driver was into bitcoin and he's retiring next year now! I don't wanna be a dummy and miss this boat! Better call my banker when I get home and take out a second mortgage and dump little Jimmy's college fund so I can buy BTC! As Jim Kramer says, this stuff's on fire and I don't want to be left behind!".
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  #87  
Old 20 November 2017, 18:31
Paul85 Paul85 is offline
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Question is, when will it burst?

And what then?
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  #88  
Old 20 November 2017, 18:38
DirtyDog0311 DirtyDog0311 is offline
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Bursting is always the final result. The real question is 'will you get out before it pops'. What's that Rothschild axiom --- "leave the last 10% to the suckers".....or something like that?

I love watching documentaries of how emotions play into almost everything that happens in financial decision making. It's really pretty fascinating to watch the fear/greed/doubt/hope dynamic play out. And also why speculation/futures trading should be outlawed --- whoever made futures contracts for gold/silver needs to be shot out of a cannon into a brick wall.

If I was POTUS I'd have handed Ron Paul a flame thrower the first day in office and told him that he was the new FED chairman and to go and "unwind their balance sheets". I imagine it would look like that D-Day scene in Saving Private Ryan. Except Ronnie would be the one telling the Capitol Police to "don't shoot them, let em burn".

Last edited by DirtyDog0311; 20 November 2017 at 18:45.
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  #89  
Old 20 November 2017, 19:02
ramzmedic ramzmedic is online now
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$8000 for one BTC makes it essentially unobtainable to the masses. It's a rich man's digital money at that point. If gold at $1200 is already unreachable for so many, BTC is not even a consideration. And during the Internet collapse mentioned above the problem is not just me not having access to my digital currency; it's also all the vendors also not having access in order for me to buy something. And how is UPS going to deliver my cantaloupes if the net is down?

So, come the post web collapse apocalypse, I take my neighbors' guns, ammo, cash, car keys, and gold/silver at gunpoint. And now, their laptops, phones and tablets! Oh, and their passwords.

I don't know about Rand Paul, but Ron Paul endorses Bitcoin.
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  #90  
Old 20 November 2017, 19:10
DirtyDog0311 DirtyDog0311 is offline
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Well, not that I'm endorsing it, but BTC is divisible from 28th decimal place IIRC. You can technically buy 8cents of bitcoin.
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  #91  
Old 20 November 2017, 19:15
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We've discussed this in the past.

http://socnet.com/showthread.php?t=1...bitcoin+mining
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  #92  
Old 20 November 2017, 19:19
Stretch Stretch is offline
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Quote:
Originally Posted by DirtyDog0311 View Post
Well, not that I'm endorsing it, but BTC is divisible from 128th decimal place IIRC. You can technically buy 8cents of bitcoin.
My math brain had to fix that.

If 128 is the divider, we’re all fucked if and when they probably change the number of significant digits.
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  #93  
Old 20 November 2017, 19:31
DirtyDog0311 DirtyDog0311 is offline
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My math brain had to fix that.

If 128 is the divider, we’re all fucked if and when they probably change the number of significant digits.
Sorry I meant TO the 28th decimal place. As in you can technically buy 1/10000000000000000000000000000th of a bitcoin. I can't figure out if this message format system can do exponents. It's been a long day.

If mixedload's article is accurate, then you can expect the shitass games of wallstreet to come to BTC. Buy and trade futures contracts of BTC. Which they can just create more and dump on the market to keep the price low if they want, and sell to the FEDRES if/when they want to jack the price up. It's all chicanery and bullshit now. There really is no market anymore. Everything is rigged. Everything is gamed. It's all one bit counterfeiting operation now. The stock market dictates monetary policy.
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  #94  
Old 20 November 2017, 21:12
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Originally Posted by DirtyDog0311 View Post
When "Big Greed" starts turning it's Sauron-eye, you know it's time to bail.
I knew this would be a good thread.
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  #95  
Old 20 November 2017, 21:34
Octoberfest Octoberfest is offline
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Option trading is lucrative enough and enough fun for me. You're all welcome, as soon as I bought into crypto is when it would tank.
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  #96  
Old 20 November 2017, 22:34
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Forgive me for not reading any of this thread besides the OP, but I have been thinking seriously of investing some money into bitcoin. I subscribed to this thread for updates so I can gather info from the many super smart people on this forum.

I do believe Magician has some knowledge of BC if I am not mistaken.
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  #97  
Old 20 November 2017, 22:35
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Originally Posted by Fubar View Post
Thank you.
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  #98  
Old 20 November 2017, 22:53
Stretch Stretch is offline
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Quote:
Originally Posted by DirtyDog0311 View Post
Sorry I meant TO the 28th decimal place. As in you can technically buy 1/10000000000000000000000000000th of a bitcoin. I can't figure out if this message format system can do exponents. It's been a long day.

If mixedload's article is accurate, then you can expect the shitass games of wallstreet to come to BTC. Buy and trade futures contracts of BTC. Which they can just create more and dump on the market to keep the price low if they want, and sell to the FEDRES if/when they want to jack the price up. It's all chicanery and bullshit now. There really is no market anymore. Everything is rigged. Everything is gamed. It's all one bit counterfeiting operation now. The stock market dictates monetary policy.
1/1e+28 is the exponential written math, yes that is much of nothing.

Post mixedload’s article, when you can. I searched and couldn’t find it.
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  #99  
Old 21 November 2017, 04:20
DirtyDog0311 DirtyDog0311 is offline
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I believe he was quoting this article:

https://www.bloomberg.com/news/artic...ncern-vanishes
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  #100  
Old 21 November 2017, 07:56
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Originally Posted by Sigi View Post
I subscribed to this thread for updates so I can gather info from the many super smart people on this forum.
Couldn't have said it better. I seriously don't know anywhere else I'd trust for honest no-bullshit input. Now it looks like I need to dig into this whole block-chain algorithm, and get a good handle on what my computer is actually doing when it's "mining" bitcoin. Cuz, hey, I got solar panels. I can put some GPUs to work if I want to for wholesale rates.
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