Bitcoin almost reaches $1000/ bitcoin. It has tripled in about 1 or 2 months. I wouldn't buy because I don't have money.
Chess.com Now Accepts Bitcoin!
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Myspace1 wrote:
One bitcoin = $1000? Holy cow.
Not really. It still goes up and up before it comes down. It's a hot issue in your country as your financial leaders discuss to accept bitcoin as a currency. Why don't you know?
At one time, a tulip bulb was worth many tens of thousands of dollars (during the peak of the tulip market speculation and an excellent example of the "greater fool" conundrum: prices are stable and even go up, so long as someone else is willing to acknowledge the "value" or pay even more).
"At the peak of tulip mania, in March 1637, some single tulip bulbs sold for more than 10 times the annual income of a skilled craftsman."
Nowadays, tulip bulbs are typically 12 for three or four dollars, unless an especially rare breed.
sftac
ps. I suppose a 'virtual' currency like bitcoin could prove useful for money laundering.
Myspace1 wrote:
bean_Fischer wrote:
Myspace1 wrote:
One bitcoin = $1000? Holy cow.
Not really. It still goes up and up before it comes down. It's a hot issue in your country as your financial leaders discuss to accept bitcoin as a currency. Why don't you know?
Why would I know? I didn't even know what bitcoin was until tonight.
Do you live in a jungle? Just kidding. Well, we don't have to know. I look at it and I am not interested.
Nov 26, 2013
0
#26
You don't have to use a whole bitcoin. You can use, let's say, 0.1 of a bitcoin or whatever you choose to use. I don't think bitcoins will be worth anything in the long run but they may be good to buy short term. I'm not sure yet but am trying to get more information about it.
Myspace1 wrote:
In any case, yeah 1 bitcoin was worth $1000 US earlier this year. Two years ago, 1 bitcoin was worth $0.32 (32 cents) and then later $30 US. Right now 1 bitcoin is worth about $230 US.
But you know the old adage in these kind of "investments." That is, "once the regular guys on the street know about something, its already way to late to make any real money in it."
You still can make money if you know the value of 1 bitcoin in the future. You can sell bitcoin even if you don't have it in derivative market.
Normally I''d be a smart a$$ but since this is Erik's thread I won't, but theoretically if I had 100 pairs of old shoes, I could say and trade these as currency, if enough people saw value in them?
Hmm this is very interesting!
Nov 26, 2013
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#31
Right but the question, will the price keep increasing? If people believe in it and the price doubles, triples, etc., there are short-term profits possible so it is something to think about. At the moment, it seems like Bitcoins have gone viral so I think prices may double in a month or two. Though, their value could also drop to zero unexpectedly.
The bubble could burst like internet stocks did (some of them).
And it could have a lot of people left holding the bag. Too speculative for me.
Yup, never heard of that, what's Bitcoin? Only in US & Canada or worldwide?
What is the difference with bitcoin and paypal? Which one would I want to use?
Nov 27, 2013
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#38
Bought my first BTC when they were 13.5 Euros each!!
If only I'd kept 'em, I'd be travelling the world in 2014 . . . . hey ho such is life. 
Selling Starbucks early was my downfall.
yeah, there is some opacity that makes bitcoins a perfect currency to buy drugs, whitening money and so