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Meatloaf

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Reply with quote  #1 
OK... so tell me what the fugg a bitcoin is.


https://www.bitcoinmining.com/

This is how you earn a bitcoin.  If you can read this and make sense of it then I will kiss your ass and buy you a bitcoin.

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Nomad

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Reply with quote  #2 
It confuses me too and is too volatile and too high to buy right now in my opinion.  It is also subject to political risk.  If the govt. makes it illegal then you've got a worthless computer algorithm.... or something like that.  The ability to move money and operate outside the view and oversite of governments is one of its main draws.  Sure wish I would have invested about $1000 when it was under a dollar for one.
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Bobby

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Reply with quote  #3 
There is a show on Netflix....Banking on Bitcoin.
I believe there are different ways of getting bitcoins.  Most people just open a bitcoin wallet and buy them.
Like anything that gets manipulated, they are only valuable if people buy into the lie.
I've heard horror stories about the mining and being hard to mine and hard to get the coins you earn.
But what do I know, I don't own a single one.  Some smart hacker will expose this temporary lie.

It might make a good episode for "Black Mirror".


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Meatloaf

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Reply with quote  #4 
They are saying that bitcoin is like gold... because its finite.

I say its like monopoly money or beanie babies.

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BChip

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Reply with quote  #5 
It's a HUGE BUBBLE....that's all
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BChip

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Reply with quote  #6 
Quote:
Originally Posted by Bobby
There is a show on Netflix....Banking on Bitcoin.
I believe there are different ways of getting bitcoins.  Most people just open a bitcoin wallet and buy them.
Like anything that gets manipulated, they are only valuable if people buy into the lie.
I've heard horror stories about the mining and being hard to mine and hard to get the coins you earn.
But what do I know, I don't own a single one.  Some smart hacker will expose this temporary lie.

It might make a good episode for "Black Mirror".

There are people who have warehouses full of servers dedicated to bitcoin mining. It's a big business.


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RubberStamp

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Reply with quote  #7 
It is gaining more credibility.  Although a story I read from a user post as I was researching cryptocurrencies last weekend showed just how shady and risky these investments are.  They are completely unregulated.

A poster said he was lucky to have bought BitCoin, about 500 of them, when it was $30.  When it climbed over $3000 dollars, wherever he was storing the coins in an online wallet, suddenly became inaccessible.  There was nothing he could do.  It just disappeared.  He had no recourse.  

It either got hacked or those that control the coin could program it any way they wished, like a slot machine, and just recaptured them.  

That guy was robbed of being a multi-millionaire.  Almost 9 million dollars at today's value.

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We argue this: Meanwhile the agent's assistant just did 5 unofficial appraisal inspections they paired with a Zestimate and granted 90% LTV - all guaranteed no buy back.
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Meatloaf

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Reply with quote  #8 
I believe that north korea is playing a big part in the run-up in value.  I personally wouldn't touch it with a million foot pole at this point.

When the government realizes that its value is solely for the use of clandestine activities it's value will go to zero because anyone caught owning it or using it will be subject to indictment.



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RubberStamp

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Reply with quote  #9 
Cryptos be tanking today.  If any drop 50% from their highs I'm jumping in.
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We argue this: Meanwhile the agent's assistant just did 5 unofficial appraisal inspections they paired with a Zestimate and granted 90% LTV - all guaranteed no buy back.
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