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Thread: Hates gonna hate Bitcoin

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    Hates gonna hate Bitcoin

    https://www.forbes.com/forbes/welcom...URL=&referrer=

    This is getting more attention. And will likely be the push for a cashless/privacy free society.

    Sent from my evil cell phone.
    "For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places."

    Ephesians 6:12

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    China is about to ban it.
    Alea iacta est

    Check out the blog.


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    waltky's Avatar Senior Member
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    Cool

    Bitcoin more valuable than gold...

    Bitcoin's value rises after big selloff
    Nov. 13,`17 (UPI) -- Digital currency bitcoin has gone on a roller coaster-type ride the past few days.
    Last week, bitcoin hit a record $7,879.06, according to industry website Coindesk, on CME Group announcing plans to offer bitcoin futures contracts, and some favorable regulation in countries, including Japan. Over the weekend, it sold off as investors reacted to developers' decision to delay upgrading the bitcoin network for transactions and spit the currency. It dropped as low as $5,617,29 Sunday as hedge funds cashed in some profits. On Monday, it began trading at $5,857.32 and climbed to a session-high $6,770,37, according to data from CoinDesk. It then dropped to $6,459.61 Monday, a rise of 10.28 percent

    The total value of all the coins in circulation rose $10 billion on Monday, according to industry website Coinmarketcap.com. "Crypto trading is not for the novice investor," John Spallanzani, chief macro strategist at GFI Securities LLC in New York, said to Bloomberg.


    Bitcoin's price has traded widely over the past week, as high as $7,879.06 and as low as $5,617,29. On Monday afternoon it was trading at $6,459.61.

    Those favoring the technology upgrade have been switching to Bitcoin cash, an offshoot of bitcoin that has become more popular because of its bigger block size. It increased last week but plunged from an all-time high of $2,477.65 on Sunday to $1,277.29 on Monday, according to Coinmarketcap.com. "We have seen similar steep falls in bitcoin throughout the year -- specifically in June and September -- but every time a considerable decline occurs, new investors jump in to experience the new asset class," Hussein Sayed, chief market strategist at ForexTime Ltd., a currency broker that uses the brand FXTM, wrote in a note obtained by Bloomberg.

    Bitcoin has a market value of about $110 billion after dropping to a low of $38 billion on Nov. 8. The currency has gained nearly 600 percent this year. "One of the main problems with bitcoin is that it does not scale up properly as more and more users adopt it," said Daniele Bianchi, assistant professor of finance at Warwick Business School, said to CNN.

    https://www.upi.com/Top_News/World-N...l&utm_medium=6

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    Red face

    possum n' Uncle Ferd usin' Granny's bitcoins to play checkers inna other room...

    Bitcoin breaks through the $16,000 mark
    7 December 2017 - Bitcoin has breached the $16,000 mark, extending the digital currency's record-breaking surge.
    The cryptocurrency began the year below $1,000 but continues to rise despite warnings of a dangerous bubble. According to Coindesk.com, Bitcoin reached $16,663.18 (12, 358.35), having soared over 50% in a week. The new high comes days before the launch of Bitcoin futures on two exchanges, including the world's largest futures exchange, CME. Spread betting firm CMC Markets said the rise had all the symptoms of a bubble market, warning "there is no way to know when the bubble will burst".

    What is Bitcoin?

    There are two key traits of Bitcoin: it is digital and it is seen as an alternative currency. Unlike the notes or coins in your pocket, it largely exists online. Secondly, Bitcoin is not printed by governments or traditional banks. A small but growing number of businesses, including Expedia and Microsoft, accept bitcoins - which work like virtual tokens. However, the vast majority of users now buy and sell them as a financial investment. The digital currency's rapid ascent from around $1,000 at the start of the year has put it in the spotlight. Critics have said Bitcoin is going through a bubble similar to the dotcom boom, whereas others say it is rising in price because it is crossing into the financial mainstream.


    At the start of the year Bitcoin was valued below $1,000

    Financial regulators have taken a range of views on the status of digital currencies and their risks. The UK's Financial Conduct Authority warned investors in September they could lose all their money if they buy digital currencies issued by firms, known as "initial coin offerings". But last week a US regulator agreed to let two traditional exchanges, CME Group and CBOE Global Markets, begin trading in Bitcoin-related financial contracts. The announcement from the Commodity Futures Trading Commission (CFTC) that it will allow investors to buy and sell "future" contracts in bitcoins - an agreement to buy the crypto-currency, for example, in three months time at a certain price - was seen as a watershed moment for Bitcoin.

    Cambridge Global Payments director of global product and market strategy Karl Schamotta said that move was behind the latest rally: "The perception in households around the world that the CME and the CBOE are providing legitimacy to Bitcoin is really what is driving the massive rally here." But Leonhard Weese, president of the Bitcoin Association of Hong Kong, said the rise in Bitcoin's value was "mostly motivated by fear of missing out and greed". Bitcoins are created through a complex computer process known as mining, and then monitored by a network of computers across the world. A steady stream of about 3,600 new bitcoins are created a day - with about 16.5 million now in circulation from a maximum limit of 21 million.

    http://www.bbc.com/news/business-42260211

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    Digital money? What could possibly go wrong?

    The CIA has not murked them? Uncle Sam hates competition.

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    And then there was my buddy who near the start, bought 200$ worth at 5$ a bit...Account got hacked, now he has 0$ worth, and apparently there is nothing he could do about it...

    Oh, and they are now selling gold plated bit coins. I LOL'ed

  7. The Following User Says Thank You to jigglepete For This Useful Post:

    waltky (12-08-2017)

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