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| BITCOIN https://mail.chicagofanatics.com/viewtopic.php?f=47&t=85003 |
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| Author: | bigfan [ Sun Feb 09, 2014 3:04 pm ] |
| Post subject: | BITCOIN |
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| Author: | Darkside [ Sun Feb 09, 2014 3:06 pm ] |
| Post subject: | Re: BITCOIN |
You just blew my mind. |
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| Author: | IkeSouth [ Sun Feb 09, 2014 3:07 pm ] |
| Post subject: | Re: BITCOIN |
its a great way to gamble until the private reserve bank gets annoyed by it and squishes it like the bug it is. |
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| Author: | newper [ Sun Feb 09, 2014 3:44 pm ] |
| Post subject: | Re: BITCOIN |
This is really where its at... 
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| Author: | NearWessSideHussra [ Sun Feb 09, 2014 5:04 pm ] |
| Post subject: | Re: BITCOIN |
Never take a sock full of bit coins to a knife fight. Winkelvoss twins are driving the bitcoin bubble. Remember the Hunt brothers from Texas in the 70's? Neither do I, but they tried to corner the silver market back then. Winkelvoss twins are doing the same thing with bit coin; only it's much easier as the quantity of bit coin out there is far more restricted. Winkelvoss's are behind the campaign to bring bit coin to the general public's attention late last year. They went around paying banks/businesses to make splashy announcements about "we now accept bit coin" and "bit coin atms" and such; but it was all orchestrated by the Winkelvoss crew to drum up interest in bit coin and drive up the price--after the Winkelvoss's had purchased $11 mil in bit coin at cheap prices. Bit coin/crypto currency mining is a way to get bit coins/litecoins/et al for "free", well, the cost of a $5000-$10,000 (or more) computer and enough electricity to draw the attention of the DEA. Hobbyist "miners" have moved on from bit coin to litecoins/dogecoins, as the difficulty of solving bit coin hashes increases over time. You now need ASIC based computers to have any chance at all of successfully solving a new bit coin hash before anyone else. "ASIC" = application specific integrated circuitry--basically chips designed specifically to solve bit coin hashes. You can still successfully mine for litecoin using high-end consumer grade computer hardware. but the top of the line video cards have become insanely expensive and difficult to find due to people using them for crypto-mining. Some geek's litecoin mining rig; he's going to have one helluva electric bill: 
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| Author: | bigfan [ Sun Feb 09, 2014 5:22 pm ] |
| Post subject: | Re: BITCOIN |
Never heard the Litecoin theory, but I agree, the coin is basically just a code that when broken, the whole market goes to hell. If I am listed of the owner of coin 100019385768960 and so is someone else, who is to say who is right? One of the benefits of this is they claim the inability to trace it? 1. Why is someone so concerned about tracing it? 2. Then just buy gold, melt it and recast it. Always goes back to the tulip bulbs. |
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| Author: | NearWessSideHussra [ Sun Feb 09, 2014 5:32 pm ] |
| Post subject: | Re: BITCOIN |
Bit coin's anonymity/non-traceability made and still makes it the default currency of the online drugs etc market Silk Road. Perhaps tax advantages? As in no taxes at all on bit coin transactions, if you go about em the right way. Don't tie your Chase account to your Coinbase account. I've only used bit coins to buy shit online. Pissed off at the price volatility. Buy a $1000 of bit coin and a few days later Mt Gox goes kaput and the price crashes--it's like visiting London and trading in dollars for pound, but without all the drunk slutty (redundant, redundant) English chicks. 
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| Author: | bigfan [ Sun Feb 09, 2014 5:33 pm ] |
| Post subject: | Re: BITCOIN |
So why did you buy the coin, especially if you are going to use it? I would assume the only reason I would buy the coin is to hold it |
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| Author: | NearWessSideHussra [ Sun Feb 09, 2014 5:41 pm ] |
| Post subject: | Re: BITCOIN |
Used a chunk of it before the price collapsed. Was hoping it'd go the other way/up before I needed to buy anything with it again and then I'd get my shit for free, sorta. 
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| Author: | newper [ Sun Feb 09, 2014 5:41 pm ] |
| Post subject: | Re: BITCOIN |
bigfan wrote: So why did you buy the coin, especially if you are going to use it? I would assume the only reason I would buy the coin is to hold it I think drugs would be the primary use of these. Other than that, hmm, maybe you can use it for online gambling? Got to be for something illegal. And there's always someone who wants to say I was using Bitcoin way back in 2012. |
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| Author: | IkeSouth [ Sun Feb 09, 2014 5:47 pm ] |
| Post subject: | Re: BITCOIN |
newper wrote: bigfan wrote: So why did you buy the coin, especially if you are going to use it? I would assume the only reason I would buy the coin is to hold it I think drugs would be the primary use of these. Other than that, hmm, maybe you can use it for online gambling? Got to be for something illegal. And there's always someone who wants to say I was using Bitcoin way back in 2012. why do we have cash then |
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| Author: | NearWessSideHussra [ Sun Feb 09, 2014 5:50 pm ] |
| Post subject: | Re: BITCOIN |
IkeSouth wrote: why do we have cash then to pay the hookers? |
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| Author: | KDdidit [ Sun Feb 09, 2014 5:56 pm ] |
| Post subject: | Re: BITCOIN |
Libertarians love them. They're a giant pyramid scheme. |
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| Author: | IkeSouth [ Sun Feb 09, 2014 6:26 pm ] |
| Post subject: | Re: BITCOIN |
NearWessSideHussra wrote: IkeSouth wrote: why do we have cash then to pay the hookers? why cant we use bitcoins for that |
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| Author: | pittmike [ Sun Feb 09, 2014 6:40 pm ] |
| Post subject: | Re: BITCOIN |
KDdidit wrote: Libertarians love them. They're a giant pyramid scheme. They must be like carbon credits then asshat. |
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| Author: | lipidquadcab [ Sun Feb 09, 2014 6:44 pm ] |
| Post subject: | Re: BITCOIN |
IkeSouth wrote: NearWessSideHussra wrote: IkeSouth wrote: why do we have cash then to pay the hookers? why cant we use bitcoins for that "A blowjob costs a dogecoin...full sex costs a bitcoin" |
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| Author: | Colonel Angus [ Sun Feb 09, 2014 7:30 pm ] |
| Post subject: | Re: BITCOIN |
How many bitcoins can I get for a SchruteBuck? |
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| Author: | Crystal Lake Hoffy [ Sun Feb 09, 2014 7:31 pm ] |
| Post subject: | Re: BITCOIN |
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| Author: | newper [ Sun Feb 09, 2014 9:26 pm ] |
| Post subject: | Re: BITCOIN |
lipidquadcab wrote: "A blowjob costs a dogecoin...full sex costs a bitcoin" If she's offering a BJ for a dogecoin, I'm guessing you may want to keep looking around... $1 is approx 780 dogecoins at the moment. |
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| Author: | lipidquadcab [ Sun Feb 09, 2014 9:29 pm ] |
| Post subject: | Re: BITCOIN |
newper wrote: lipidquadcab wrote: "A blowjob costs a dogecoin...full sex costs a bitcoin" If she's offering a BJ for a dogecoin, I'm guessing you may want to keep looking around... $1 is approx 780 dogecoins at the moment. Wow...much tooth...so painful... |
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| Author: | polster [ Sun Feb 09, 2014 9:33 pm ] |
| Post subject: | Re: BITCOIN |
I see a lot of young people getting into bitcoin thinking its some sort of investment! In my opinion these virtual currencies not backed by any government or physical assets is bound to crash and burn. After catching the guy who created/ran Silk Road which was like the Amazon.com/Ebay of all illegal stuff including drugs, guns, illegal documents, etc.. the bitcoin price seems to have skyrocketed as the old adage good press or bad press is all good press. Bitcoins are also used on gambling, fake investment (ponzy/HYIP) sites where its very difficult to trace the origin of the scammers!... I personally would not use or recommend using bitcoin as an investment or payment vehicle now or in the future. |
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| Author: | newper [ Sun Feb 09, 2014 9:37 pm ] |
| Post subject: | Re: BITCOIN |
Here's some coin tracking info: http://coinmarketcap.com/ $11 Billion in market cap across all of these silly coins. |
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| Author: | Mr. Reason [ Sun Feb 09, 2014 10:50 pm ] |
| Post subject: | Re: BITCOIN |
bigfan wrote: Always goes back to the tulip bulbs. I've got five parrot tulip bulbs I'll part with for $500, Alex. |
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| Author: | rogers park bryan [ Mon Feb 10, 2014 8:43 am ] |
| Post subject: | Re: BITCOIN |
Bitcoin popularity is steadily growing |
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| Author: | bigfan [ Mon Feb 10, 2014 9:18 am ] |
| Post subject: | Re: BITCOIN |
Here is a 2 year chart. It hasnt been STEADY at ALL Thurs and Friday alone was a 25% fall. There was a massive spike in March. Some paid $1300 per coin, that was worth $200 the next day.....then it started moving again In Nov... if it crashed down into the 200-300 area i would buy some, hope it goes up, sell enough to cover my investment and then just hold it. Still looking for Gold to get closer to $1000 before it rises http://bitcoincharts.com/charts/mtgoxUSD#rg730ztgSzm1g10zm2g25zv |
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| Author: | rogers park bryan [ Mon Feb 10, 2014 9:24 am ] |
| Post subject: | Re: BITCOIN |
bigfan wrote: Here is a 2 year chart. It hasnt been STEADY at ALL I didnt say or mean steadily growing in value. I mean just what I said, popularity. It's a hot topic on all the news channels and that aspect has been steady. |
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| Author: | Beebo [ Mon Feb 10, 2014 6:01 pm ] |
| Post subject: | Re: BITCOIN |
bigfan wrote: 1. Why is someone so concerned about tracing it? Taxation. Paper trail for those who buy illicit materials. No governmental oversight. bigfan wrote: 2. Then just buy gold, melt it and recast it. Yep bigfan wrote: Always goes back to the tulip bulbs. Well, those were future contracts in a ponzi scheme. Of course, I'm fond of Louisiana, the French government's official ponzi scheme. They finally liquidated when they sold territory off as the Louisiana Purchase (or "perches", for Pogo fans.) Created the economic environment that brought on the French Revolution. |
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| Author: | bigfan [ Thu Mar 06, 2014 1:14 pm ] |
| Post subject: | Re: BITCOIN |
CEO found dead http://www.aol.com/article/2014/03/06/ceo-of-bitcoin-exchange-dies-in-singapore/20844168/?icid=maing-grid7%7Chtmlws-sb-bb%7Cdl3%7Csec1_lnk2%26pLid%3D451055 Combine with Mt Gox. I would be selling TODAY |
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| Author: | jimmypasta [ Thu Mar 06, 2014 1:17 pm ] |
| Post subject: | Re: BITCOIN |
Saw that on ABC news last night. I have been reading up on bitcoin and I still don't get it. It marks the 9th suspicious death (all suicides) to hit the finacial community in the last 6 months reports Chuck Gowdie. What the hell is going on?? |
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| Author: | Rod [ Thu Mar 06, 2014 1:25 pm ] |
| Post subject: | Re: BITCOIN |
I wouldn't say it will be Bitcoin in its current form, but I have little doubt that crypto-currency is the future of monetary systems. Power to the people! The Internet is the most important development in the history of mankind. More important than the Gutenberg press. And you thought this shit was just for surfing porn and bashing bernstein. |
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