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Bitcoin currency discussion

nuggstein

Go Kart Champion
Location
North Jersey
Only a few weeks ago .... it was $90 USD per bitcoin. Last week it was about $140. Today? Freakin' $240!

Unreal. My friend had purchased around 55-60 of them back when they were like $15/Bitcoin last year. He has since used most of them, but he said if he kept them, he would've made $12,000.

Is the value going to keep going up? I'm really tempted to invest some money into Bitcoins, despite them being at $240/piece right now.

Some people have purchased them when they were only pennies in 2009....and are now millionaires.

Thoughts? Discuss!
 
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mkv_martinez

Go Kart Champion
Location
USA
the bitcoin bubble is outrageous, i should have invested when i had the chance. At this point its only worth it to deposit if you're gonna spend it instantly tho, because literally any hour now they are gonna plummet back down in price, no way it can keep inflating like that.
 

SayaGTI

www.meatspin.com
It's definitely volatile. Little too risky for my kind of investing lol
 

nuggstein

Go Kart Champion
Location
North Jersey
the bitcoin bubble is outrageous, i should have invested when i had the chance. At this point its only worth it to deposit if you're gonna spend it instantly tho, because literally any hour now they are gonna plummet back down in price, no way it can keep inflating like that.
Some people are expecting it to reach $400/Bitcoin ... others are even saying it could possibly hit $1,000.
 

bialymike

Ready to race!
Location
NYC
so what exactly is this bitcoin you speak of? i still cant grasp my head around it. sounds like virtual money to me by how its named
 

nuggstein

Go Kart Champion
Location
North Jersey
so what exactly is this bitcoin you speak of? i still cant grasp my head around it. sounds like virtual money to me by how its named
Think of the Internet as a Country. A Bitcoin is the Internet's currency (introduced in 2009 by someone who has been able to stay anonymous), has a value, and is actually stronger than 20 actual countries' currencies.

Major issues/benefits are:

  • It is not regulated by a government.
  • It can be converted to almost any "real" currency.
  • This currency can be obtained anonymously if you know how.
  • When consumed within the "dark web" (aka the Onion Router), people are paid via Bitcoins on black markets for illegal services, products, etc, and are able to stay anonymous without any traceable events or currency.
  • For some reason the value of a Bitcoin is skyrocketing due to demand?
  • Some companies such as WordPress and Reddit now accept Bitcoins as means of payment.

http://en.wikipedia.org/wiki/Bitcoin
 

blankwavercade

Ready to race!
Location
Pittsburgh
258/bitcoin this morning. Ah I remember reading the /. article when bit coins were first announced. I thought to myself. Well i have enough money to build a bitcoin miner but this is going to be a huge flop. Currently I would not buy a bit coin, maybe a few months ago when it was around 20/bitcoin
 

melancholygypsy

Bring out the Gimp
Location
Thousand Oaks, CA
Car(s)
2008 GTI
If it wasn't such a pain in the ass to buy them when they first came out I would have considered it. It is a little easier now but the price :eek:
 
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