[ACoochy]

You may as well invest in Beanie Babies if you are going go invest in Bitcoin.

If you don't think the Winklevoss twins are manipulating the Bitcoin market now, then let me sell you some swamp land I have in Phoenix.

They have such a large position in Bitcoin, and the easiest way for them to get some "safe" money back is to create that retarded ETF that they did.

And Germany did NOT recognize bitcoin as a "currency" but rather a financial unit of account.

Let's see----what can I invest in? Oh I know-- a cryptocurrency that has inflexible supply, high rate of volatility, and high risk of loss.

I want my PET ROCK DAMNIT!

Winklevoss twins aren't even anywhere as big as your making it sound (ie less than 1% in total BTC holdings).

They would be almost non-mentioned if not for unfounded scaremongering from pplz such as yourself.

Face it, its not like that 16+trillion dollar hole you guys are currently in is going to get smaller anytime sooner.

At least Europe knows their economies are up the creek and are being proactive in doing something about implementing multi currency reform because at the end of the day people will trade bitcoin for the same reason we trade cash, in short because there's a inherent belief that it works, no matter how misguided or not that may be...

[ACoochy]

The aim from the beginning was to be decentralized form of currency....but they getting in bed with the people who they say they didn't want to become.

Bitcoin is basically a shell game like the stock market where there is a lot of market manipulation and will not be able to store value over time

Yes, a decentralized currency that would be regulated by a different set of reforms, dependent on individual nation government laws.

For the CIA or intelligence people to stay ahead of BTC would require quantum cryptic technology, something that isnt forecasted to occur for almost another 10 years.

When that day finally arrives id wager alot of those interested in alternate currencies would've moved onto something else. GL

[byronbb]

Winklevoss twins aren't even anywhere as big as your making it sound (ie less than 1% in total BTC holdings).

They would be almost non-mentioned if not for unfounded scaremongering from pplz such as yourself.

Face it, its not like that 16+trillion dollar hole you guys are currently in is going to get smaller anytime sooner.

At least Europe knows their economies are up the creek and are being proactive in doing something about implementing multi currency reform because at the end of the day people will trade bitcoin for the same reason we trade cash, in short because there's a inherent belief that it works, no matter how misguided or not that may be...

Exactly. Your paper cash, which by the way only exists in your bank account as a "promise", is backed by nothing more than the country that prints it. There is no gold behind american dollars, dollar to dollar; obviously 'Merica has the largest army in the world and controls oil production, but the next time you fork over a bill with a president on it you should laugh a bit because its a piece of PAPER.

[SamDiamond]

Exactly. Your paper cash, which by the way only exists in your bank account as a "promise", is backed by nothing more than the country that prints it. There is no gold behind american dollars, dollar to dollar; obviously 'Merica has the largest army in the world and controls oil production, but the next time you fork over a bill with a president on it you should laugh a bit because its a piece of PAPER.

So, you think a "currency" created by an anonymous hack sorry (Satoshi Nakomoto)--including the software for the currency-- the valuation for the currency----is a much more stable form of exchange?

Seriously?

You don't see any inherent risk in a "currency" created by who/the/fuk/knows, has a limited supply, and a high rate of volatility? By its design, Bitcoin's only value is in holding onto it, and selling high. Fixed commodities are meant to be held onto, not traded.

[boondoggle]

Lot of facepalm in this thread.

Ignore the pinheads and their neo college dropout I failed-econ-101 rants.

You can bet sports with bitcoins and you can buy drugs with bitcoins on silk road. That will satisfy 95% of SBR's viewing audience.

[Darkside Magick]

Exactly. Your paper cash, which by the way only exists in your bank account as a "promise", is backed by nothing more than the country that prints it. There is no gold behind american dollars, dollar to dollar; obviously 'Merica has the largest army in the world and controls oil production, but the next time you fork over a bill with a president on it you should laugh a bit because its a piece of PAPER.

Another myth......

The Congress has specified that Federal Reserve Banks must hold collateral equal in value to the Federal Reserve notes that the Federal Reserve Bank puts in to circulation. This collateral is chiefly held in the form of U.S. Treasury, federal agency, and government-sponsored enterprise securities.

[Russian Rocket]

obviously 'Merica has the largest army in the world and controls oil production, but the next time you fork over a bill with a president on it you should laugh a bit because its a piece of PAPER.

actually US doesn't have the largest army in the world...but that besides the point

[SBR_John]

The bitcoin market grew from a few million bucks to its current $1.5 billion market in impressive fashion especially considering no one understands them.

Bitcoins are a global currency that doesn't care what the US policy is towards it. The US may well outlaw it which will make them even more valuable because there is no way to confiscate them. You can buy them in any currency.

So bubble or real I think its worth playing with and learning more about. Last trade was $119.

[RiverRaid]

I have never had anything but positive experiences using bitcoin. I never thought of using it as an investment, but more of a convenient way to transfer money. When i bought my first bitcoins they were $13 a piece about a week before Christmas last year.

[SBR_John]

I have never had anything but positive experiences using bitcoin. I never thought of using it as an investment, but more of a convenient way to transfer money. When i bought my first bitcoins they were $13 a piece about a week before Christmas last year.

I think the volatility will subside as the market grows and the number of traders grow which is definitely happening. It's $120.60 right now. It's been steady between $115 to $125 for the last few weeks. Not an unusual range for a stock to trade. Eventually I think it will correlate with the price of gold in price movement.

[byronbb]

So, you think a "currency" created by an anonymous hack sorry (Satoshi Nakomoto)--including the software for the currency-- the valuation for the currency----is a much more stable form of exchange?

Seriously?

You don't see any inherent risk in a "currency" created by who/the/fuk/knows, has a limited supply, and a high rate of volatility? By its design, Bitcoin's only value is in holding onto it, and selling high. Fixed commodities are meant to be held onto, not traded.

Where the hell did I say any of those things!?!?!?! As for created by 1 mystery man, it's irrelevant, the code is public and nerds all over the world have veted it. I will take a decentralised currency like bitcoin over some crap printed by criminal central bankers if given the choice.

[byronbb]

Another myth......

The Congress has specified that Federal Reserve Banks must hold collateral equal in value to the Federal Reserve notes that the Federal Reserve Bank puts in to circulation. This collateral is chiefly held in the form of U.S. Treasury, federal agency, and government-sponsored enterprise securities.

AHAHHAHJAHAHA They hare printing 40billion dollars a month!!!! Are they making Gold in their basement?!?!?! You clowns have swallowed the retard pills, stop thinking the government or Wall Street is doing anything but fleecing you. YOU ARE SLAVES.

[GunShard]

[SBR_John]

Good vid. I agree with much of what he says. Of course its a few months old and when he made the vid and bitcoins were $30, now they are $120 as we speak.

So they may not make it but I can't help wonder how smart this guy is or is not by saying bitcoins are worthless and a year later they are up 400%. Btw you could make the same argument for gold. Gold has some minor intrinsic value but $100k will fit easily in your pocket and no way it has some underlying intrinsic value that would justify $1400 for a single ounce.

[bigboydan]

Don't even get me started on bitcoin. That entire situation still upsets me very much!

[SBR_John]

Don't even get me started on bitcoin. That entire situation still upsets me very much!

Can I take guess that it was your idea?

[bigboydan]

Can I take guess that it was your idea?

You're 100% correct it was my concept Mr.Walker!

BTW, I heard about all that stuff BrockLanders had those LV sportsbook managers scrambling around in the back rooms. I must say that's pretty interesting info right there don't you think?

[SBR_John]

You're 100% correct it was my concept Mr.Walker!

BTW, I heard about all that stuff BrockLanders had those LV sportsbook managers scrambling around in the back rooms. I must say that's pretty interesting info right there don't you think?

Could be... maybe they throw a party every time he throws out a pick I don't know.

[SBR_John]

BTW the current price is $118.80. A lot of trading but not much volatility this past week. Another point I find a little interesting is that they trade 24/7.

[SBR_John]

$122.20 nice pop.

[747planes]

John can you clarify this please. WHen i went to bitcoin dot org site it says we have to use e-wallets to get bit coin. If the whole currency is a program and it is coded to keep the numbers in a limit then how are these e-wallets doing the transactions. So if i sign up with one of the e-wallet and purchase the coin, do they purchase it from bitcoin dot org? Why doesn't bitcoin org act itself as a e-wallet too? I think lot of people are trading/playing around with bitcoin without completely knowing how it works. I understand i can jump in and maybe buy and sell and scalp some profit but i want to know the whole concept behind this thing.

[Cyyyyk]

Tulip bulbs.

[SBR_John]

John can you clarify this please. WHen i went to bitcoin dot org site it says we have to use e-wallets to get bit coin. If the whole currency is a program and it is coded to keep the numbers in a limit then how are these e-wallets doing the transactions. So if i sign up with one of the e-wallet and purchase the coin, do they purchase it from bitcoin dot org? Why doesn't bitcoin org act itself as a e-wallet too? I think lot of people are trading/playing around with bitcoin without completely knowing how it works. I understand i can jump in and maybe buy and sell and scalp some profit but i want to know the whole concept behind this thing.

Wish I knew enough to tackle your question.

Bitcoins are "mined" using supercomputers and algorithms. I've heard its extremely difficult to actually mine one and could take a dedicated PC over a year to produce one which would barely pay for the electricity. So Bitcoin.org does not create them, people do. When the number reaches 21 million there will be no more until the year 2140.

he reason you need an ewallet is the same reason you need a brokerage account to trade stock. You are buying/sellling into a broker network just like NASDAQ works.

[bigboydan]

Could be... maybe they throw a party every time he throws out a pick I don't know.

Theirs no could be because no need sugarcoating it because we both know what the real scoop don't we.

[bigboydan]

BTW the current price is $118.80. A lot of trading but not much volatility this past week. Another point I find a little interesting is that they trade 24/7.

The current price is a moot point though John. It gets to the point now where since nobody has compasated me for this concept I feel action needs to be taken!

BTW, and be honest... Have you EVER seen me get so mad before since we've known each other. Hmm, needless to say I'm beyond pissed right now!

[SBR_John]

The current price is a moot point though John. It gets to the point now where since nobody has compasated me for this concept I feel action needs to be taken!

BTW, and be honest... Have you EVER seen me get so mad before since we've known each other. Hmm, needless to say I'm beyond pissed right now!

$121.90 as we speak.

Dan I have to admit I have attention issues. If you have ever been mad I haven't noticed. Folks routinely copy my ideas and by the same token I learned a lot from Ken and Russ and others along the way. You are an ideas guy and I hope one day you catch lightning in a bottle. As I've mentioned before a great idea is a small part of the equation. Bringing an idea from concept to reality is THE critical element. Imagine how hard it must of been for this bitcoin inventor to actually bring it from dream stage to reality?

[bigboydan]

Dan I have to admit I have attention issues. If you have ever been mad I haven't noticed. Folks routinely copy my ideas and by the same token I learned a lot from Ken and Russ and others along the way. You are an ideas guy and I hope one day you catch lightning in a bottle. As I've mentioned before a great idea is a small part of the equation. Bringing an idea from concept to reality is THE critical element. Imagine how hard it must of been for this bitcoin inventor to actually bring it from dream stage to reality?

I don't wish to discuss my involvement surrounding the entire bitcoin/itecoin concept but, never the less. It was my idea for this industry as a hole. Now with that point being said I'm sure you can understand my rage surrounding this entire matter.

In regards to catching lightning in a bottle within this industry... I might have an idea or two but It's hard to do without having a fair shot surrounded by the proper support.

As far as the other stuff goes.... I guess you're just gonna have to trust me.

[pico]

http://go.bloomberg.com/market-now/2...tcoin-what-is/

silk road got shut down

[eidolon]

http://go.bloomberg.com/market-now/2...tcoin-what-is/

silk road got shut down

The impact will be minor on bitcoin