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#1 by yvesp110 » Mon Jan 20, 2014 16:21

i am wandering how many users here are into bitcoins especially since the price rocketed in 2013. I myself am looking into it
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#2 by valerie » Mon Jan 20, 2014 16:41

I'm not.

It seems a lot of people like it but you really need to do your research about it.
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#3 by oberder » Mon Jan 20, 2014 16:51

It would be a good idea to do a lot ( and I do mean, a lot ) of research about Bitcoins -- you might find some news and articles about it quite daunting :shock:

*Me? Not into it*
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#4 by yvesp110 » Mon Jan 20, 2014 16:56

well not only gonna read about it just tried something and got .1 free it means 88$ so very interesting more reading to do tonight since 1.0 is over 800$
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#5 by jwyblejr » Tue Jan 21, 2014 00:41

I don't know how true it is but I heard that drug dealers or the mob was involved with them.
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#6 by TiagoLemaire » Tue Jan 21, 2014 00:47

Some people have started using litecoin instead.
Last edited by TiagoLemaire » Thu Jan 23, 2014 19:12 » edited 2 times in total
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#7 by logo2013 » Tue Jan 21, 2014 01:11

hi there yvesp110 yes i stumble through one of the site and am thinking of joining very interesting.
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#8 by Darkstar2 » Tue Jan 21, 2014 13:40

It seems to grow in popularity. I heard the other day on the news that in Canada they are introducing some BITCOIN ATM like machines in some select locations / cities, where you can directly purchase bitcoins
and sell bitcoins, there was a video of that. I think they have those in Vancouver BC, Ontario and Quebec soon.
To be honest, there are better, higher yielding inestments one could make offline if choosing the right portfolio,
BITCOIN is extremely volatile and nothing regulates it or backs it........ I don't think we can expect big rises anytime soon in fact I think it will fall down (the declines will be bigger than the rises) over a period of time, I think
it will be a while before the next major rise. Personally I would not touch BITCOIN.

There are free sources of bitcoin online where you could earn micro bitcoins and dust basically, but they would
take a ridiculous amount of time to reach the equivalent of 1 BTC..........

Or you could do GPU mining........Or if you are up to it and have loads of money you don't know what to do with, get some ASIC miners in the mid to top end range and mine away and hope to recover your investment in a short period of time. Those are probably the people making the most out of BITCOIN.

Those who purchased a truck load of BTCs in its infancy when it was worth 1 to 2 digits, are the ones who
made the most of it and those who have big money to spend !

Takes money and risk to gain.

BITCOIN can be considered somewhat better than HYIP (sort of)

1) With HYIP PONZI if you lose your money is gone ! your chances of success are so slim.

2) With BITCOIN you don't lose unless you sell, until then it is a virtual loss that COULD be recovered if the currency rises again, much like offline investments (stocks, etc.). BUT, on the flip side, it is not regulated
and nothing to back it up.

It is soon to become the new official currency of Canada....... :lol: :lol: :lol: :lol:
As CDN dollar is in free fall right now ......
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#9 by valerie » Tue Jan 21, 2014 14:07

One major investment that does not cost anything is exchanging paper for metal.

Some day, in the not so distant future, people may not be able to do that.

Perhaps you remember the penny shortage? In many areas in the USA, they would
not give people rolls of penny's in exchange due to the shortage. At one point, they
some banks were paying interest on the pennies. If you turned in 100 pennies for
example, the bank would give you a dollar in paper plus one nickel as exchange.

In the old days, you could take a hundred dollars or more to the bank and exchange
all the paper for metal, quarters for example.

There are people today that cash in their paper for metal.

Platinum, gold, silver, copper, etc.....I'd and actually I do, focus on gold and silver
as investment.

I will say, plastic in regards to credit cards, is on it's way out. Kind of scary because
it is pushing closer to the book of Revelation.
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#10 by oberder » Tue Jan 21, 2014 17:18

valerie wrote: Kind of scary because it is pushing closer to the book of Revelation.

Considering Biometrics is becoming the norm, guess one day a transaction will involve something that's underneath the skin, literally :o

Ok, back to the topic -- I agree with Darkstar2; such like mining for Bitcoins requires a lot of effort and energy ( electricity ) after reading articles about it ( as much as the 'other stories involving mining, which was no different to that when players were trading online game currency for real money ), then aside from the extra precautions needed in securing and transacting Bitcoins ( again, stories of losing passwords, wallets, and the such )

Headaches...

Definitely the ones who'd benefit from Bitcoins are the ones that took part of it years ago; with so many Bitcoins now coming ( I've read that there's even one named after a dog meme ) with different values... *groan*

If anyone cares to look over their favorite search engines about a news article ( or two ) about an incident that involved a country that decided to crack down and regulte on Bitcoins -- prices fluctuated from 100+ to mere 60+ in minutes on a global scale -- that's how volatile Bitcoins; unexpected trade prices, uncertainty...

Headaches, I say :(
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#11 by Darkstar2 » Tue Jan 21, 2014 19:42

valerie wrote: One major investment that does not cost anything is exchanging paper for metal.

Some day, in the not so distant future, people may not be able to do that.

Perhaps you remember the penny shortage? In many areas in the USA, they would
not give people rolls of penny's in exchange due to the shortage. At one point, they
some banks were paying interest on the pennies. If you turned in 100 pennies for
example, the bank would give you a dollar in paper plus one nickel as exchange.

In the old days, you could take a hundred dollars or more to the bank and exchange
all the paper for metal, quarters for example.

There are people today that cash in their paper for metal.

Platinum, gold, silver, copper, etc.....I'd and actually I do, focus on gold and silver
as investment.

I will say, plastic in regards to credit cards, is on it's way out. Kind of scary because
it is pushing closer to the book of Revelation.

I don't know if everyone here will make the connection with your last sentence. It's funny you mentioned this Valerie because I was talking about this not long ago. I am familiar with that passage in the Bible, have read it before, it talks about the mark of the beast, something about being forced to adhere to the new order or be cast away from society (killed)....and now we see more and more things go on a chip (mark of the beast). But chipped currency is not the only thing, there are far more things happening now that can related to the book of revelations. Metal is good investment indeed, in times of war and cataclysmic events, paper money will be useless........

Gold, remember when Gold was below $300, and people thought it was so high. I remember experts predicting gold would one day go above $1k an ounce. people were in disbelief........:P
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#12 by freemoneylinks » Tue Jan 21, 2014 22:11

I for one have never gotten the Bitcoin thing.

I cant see any thing it offers that is worth the effort of earning them.

Maybe i am missing something with them that others find it worth earning them or getting them for free.
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#13 by Darkstar2 » Tue Jan 21, 2014 23:33

freemoneylinks wrote: I for one have never gotten the Bitcoin thing.

I cant see any thing it offers that is worth the effort of earning them.

Maybe i am missing something with them that others find it worth earning them or getting them for free.

People are taking advantage of the high volatility of the currency, it can go both ways and usually fluctuates
by big gaps. Some risk takers get in on it to bank on the theory that the currency will rebound from a low
and profit from that. For example, one day it can be worth something and the next it's 30-40% higher.
Of course it can go both ways too.

Some speculate it can come down crashing big and take longer to go back up, so like regular stocks, huge drops / crashes create an opportunity (people buy very low ).

I guess it's a good deal for high risk takers, still better than throwing their money in HYIP. With HYIP they stand nearly no chance of winning.

There was a time when 1 BTC = $80 USD.......:P Imagine those who got in at that stage.

There are 2 ways things can go from here:

1) Bitcoin will lose its shine and die slow death or come down further, taking far longer to recover as before
or
2) Bitcoin has not reached its bubble and set to explode in value / popularity in a near future.

NOTHING regulates or backs up the value of BITCOIN........So whether #1 or #2 will happen one has to wonder if it is something worth getting into. If you are earning them for free and mining enough to cover your expenses (electricity) and all, then I guess you have nothing to lose........I know some people GPU mining on a multi GPU set up and they claim earning a couple of hundreds per month profits NET after electricity and expenses.
ASIC miners are the most expensive way but the best potential for a long term venture and risk takers.

Some companies are setting up BITCOIN ATMs in some cities........making it even more easier and reaching out to a bigger market to directly fund and sell BITCOIN.......This might drive the value up eventually.

Despite all that I'm not getting into that. Everytime I took a risk in my damn life I ended up failing miserably.

:D
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#14 by dukuntekno » Wed Jan 22, 2014 10:40

Darkstar2 wrote: Everytime I took a risk in my damn life I ended up failing miserably.
:D
i feel the same way :lol:
when a friend told me to invest and i did, i have to file a dispute the next week. so task on, no invest for now :)
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#15 by Darkstar2 » Wed Jan 22, 2014 16:43

dukuntekno wrote:
Darkstar2 wrote: Everytime I took a risk in my damn life I ended up failing miserably.
:D
i feel the same way :lol:
when a friend told me to invest and i did, i have to file a dispute the next week. so task on, no invest for now :)

lol been there mate. On neobux I was solicited by some members in PM back when they had PM, and people
telling me not to waste my time on neo and to invest in GeniusFunds and other HYIP. and not long ago scammed of $3k ! and 1.5 years later the scum at AlertPay processed my dispute (which was for $1.8k remaining to be paid) and of that paid me only $80. :P

But I am not talking about those kind of stupid risks :D I am talking about genuine risks which were mostly calculated.

I guess we are all destined to our results, no matter how we work or try, destiny steers you back on your per-determined course.
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#16 by IAMPERFECT » Tue Jan 28, 2014 17:39

Bitcoins are serious! :)

I am very much involved in bitcoin and I am currently building my wallet. Concerning bitcoin Google is your best friend .Look up the headline story about the guy who bought a Tesla I think it was 100k I cant remember.

I would definitely like to connect with other Bitcoin minds.

People seem to always be afraid of what they do not know and understand. Bitcoin is stronger then the USD and it is a powerful online currency.

Bitcoing can also be converted to USD (shall I say let's go to the bank).
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#17 by oberder » Tue Jan 28, 2014 19:05

You mean this news article? ( see link below )

According to news blog, which links to CNBC -- the purchase did involve bitcoins, but the bitcoins have to be converted to real cash in order to make the purchase -- and only a few banks were handling bitcoin transaction ( this was before the inevitable news about China on bank transactions which caused the fluctuation of the virtual currency )

Quote:"Frigerio says that the dealership doesn't accept Bitcoin as a currency and only accepts US dollars as payment for its vehicles. That said, we wouldn't be surprised if using BitPay to turn Bitcoins into US dollars for the used Model S purchase was actually easier than going through a more traditional financial establishment."

:idea: Reference source -- Tesla not bought with Bitcoin currency after all? - Autoblog

With that, banks are reported to being cautious when dealing with Bitcoins

:idea: Reference sources:
(1) As Bitcoin surges, Canadian banks make converting to cash difficult - National | Globalnews.ca
(2) China bans banks from processing Bitcoin transactions | Digital Trends
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#18 by IAMPERFECT » Wed Jan 29, 2014 07:00

I'm not sure of the whole story, be it bad or good.

That's definitely something to keep in mind, either way i have heard of several places accepting Bitcoins
California Car Dealership Selling Cars for Bitcoins | Complex

So I would just recommend being careful. I have a bitcoin wallet and I earn, receive, and make purchases with my Bitcoins. The currency is still stronger than USD and several other countries as well.

So I still say, Let's Go To The Bank :)
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#19 by Darkstar2 » Wed Jan 29, 2014 14:45

jwyblejr wrote: I don't know how true it is but I heard that drug dealers or the mob was involved with them.

lol - that's utter rubbish in my opinion and highly unlikely.

The number one method believe it or not for organised crime is legal tender. Remember that BITCOIN is highly volatile, I'm sure the mob and drug dealers would not deal with something with unknown value but true value ! So if a customer is paying for drugs using BTC, say thousands worth in drugs, and the following day BTC value takes a huge dive,
I don't think the dealer will be too happy :D because with organised crime money moves quickly, so volatility is not something they can afford. Organised criminals mostly used LiibertyReserve and the likes :D and I don't believe they will be using BitCoin, LiteCoin or Coin1 anytime soon ! :lol: :lol: :lol:
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#20 by natasha1983 » Thu Jan 30, 2014 08:02

i agree
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