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Thread: Official saddo financial thread

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  1. #121
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    Default Re: Official saddo financial thread

    http://stateofthenation2012.com/?p=90895

    Uh oh we might have an issue here

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    Default Re: Official saddo financial thread

    This charade has gone far enough when people need to realize that while the launch of the first US Bitcoin futures exchange by Cboe is dragging it into the financial mainstream, that doesn't mean it will go the distance, the currency is still not regulated, with regulators struggling to keep pace with the tech's innovation.
    On the other hand unfortunately......
    You don't need a masters degree to realize that from a money transmission point of view that the Blockchain technology that underpins Bitcoin is here to stay, along with cryptocurrency

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    Default Re: Official saddo financial thread

    Quote Originally Posted by brocktonblockbust View Post
    This charade has gone far enough when people need to realize that while the launch of the first US Bitcoin futures exchange by Cboe is dragging it into the financial mainstream, that doesn't mean it will go the distance, the currency is still not regulated, with regulators struggling to keep pace with the tech's innovation.
    On the other hand unfortunately......
    You don't need a masters degree to realize that from a money transmission point of view that the Blockchain technology that underpins Bitcoin is here to stay, along with cryptocurrency
    No doubt, ibm is working on blockchain as governments and financial institutions adopt it. It is quite amazing an open source code, given out on the internet has such a major impact on the world. One big hack and crypto could be gone or it could be something I can't even fathom in the financial world. I'm gonna hire some hit men with Bitcoin to shave off kirklands eyebrows

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    Default Re: Official saddo financial thread

    Bit coins are like the pet rocks of the new millennium. There has to be something of value behind any currency. When I pay $10 for my lunch at a Greek diner, I get the food plus the service and my $10 is backed by labor that earned that $10. With bitcoins it's all about inflating the currency through speculation which means the bulk of it is empty profiteering driven value. Once people start cashing in, the value drops exponentially...causing a rush on cashing out before people "lose" the "on paper" value

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    Default Re: Official saddo financial thread

    Quote Originally Posted by brocktonblockbust View Post
    Bit coins are like the pet rocks of the new millennium. There has to be something of value behind any currency. When I pay $10 for my lunch at a Greek diner, I get the food plus the service and my $10 is backed by labor that earned that $10. With bitcoins it's all about inflating the currency through speculation which means the bulk of it is empty profiteering driven value. Once people start cashing in, the value drops exponentially...causing a rush on cashing out before people "lose" the "on paper" value
    I'm not 100p sure on Bitcoin and it is risky but our cash today is fiat backed by nothing but faith in the government. It has no intrinsic value. I can say the same about Bitcoin it is bought on the faith it will go up (or down via contract) but a lot of people do have faith in it. It is slow and cumbersome with expensive fees, not a practical currency to pay for small things. If I wanted to send you a couple bucks in Bitcoin it would cost me more in fees to send it. Confirmation times are slow. If these issues are not resolved I don't know if Bitcoin can survive as a mere store of value but perhaps it can. I'm really not a big advocate. Just cause I've made some money I do realize I stand to lose. Perhaps a greater chance of losing although it seems to be building good resistance right now

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    Default 19,519 --- how much higher can Bitcoin go?

    I have purchased ONE CENT (one bit penny) also known as One "Satoshi".

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    Default Re: 19,519 --- how much higher can Bitcoin go?

    Quote Originally Posted by brocktonblockbust View Post
    I have purchased ONE CENT (one bit penny) also known as One "Satoshi".
    after all the shit you gave @walrus? Bitcoin is finished , Litecoin is taking over, its all wrong, yadda, yadda.
    Former Undisputed 4 belt Prediction champion. Still P4P and People’s Champion.

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    Default Re: 19,519 --- how much higher can Bitcoin go?

    Quote Originally Posted by Primo Carnera View Post
    Quote Originally Posted by brocktonblockbust View Post
    I have purchased ONE CENT (one bit penny) also known as One "Satoshi".
    after all the shit you gave @walrus? Bitcoin is finished , Litecoin is taking over, its all wrong, yadda, yadda.
    I actually bought a few ethereum a few months ago. I also started mining. but I was looking into litecoin as well.

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    Default Re: 19,519 --- how much higher can Bitcoin go?

    You better not think about mining. You know how much it cost to mine 1 Bitcoin now? It uses enough electricity to run a full City like New York for 3 days

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    Default Re: 19,519 --- how much higher can Bitcoin go?

    Quote Originally Posted by Xwetie View Post
    Quote Originally Posted by Primo Carnera View Post
    Quote Originally Posted by brocktonblockbust View Post
    I have purchased ONE CENT (one bit penny) also known as One "Satoshi".
    after all the shit you gave @walrus? Bitcoin is finished , Litecoin is taking over, its all wrong, yadda, yadda.
    I actually bought a few ethereum a few months ago. I also started mining. but I was looking into litecoin as well.
    Dude fantastic, I got a few etherium right before it jumped. I'm concerned with the cme getting into Bitcoin but it has had a positive reaction and futures contracts are up. Dude I'm really looking into litecoin mining. I know u are a rich dude but if I could talk to u about cost of a rig and how u got started I'd be very grateful. Litecoin has a great team behind it. @Xwetie

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    Default Re: 19,519 --- how much higher can Bitcoin go?

    @Xwetie I also got litecoin but flipped it when it jumped so I really speculated on it but I think it's good to hold

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    Default Re: 19,519 --- how much higher can Bitcoin go?

    Quote Originally Posted by brocktonblockbust View Post
    You better not think about mining. You know how much it cost to mine 1 Bitcoin now? It uses enough electricity to run a full City like New York for 3 days
    No brock, mining a single Bitcoin does use a lot of electricity and the advent of crypto has greatly increased power usage around the world. Each time a coin is made the next one is more complex and increases energy use. Total crypto mining uses enough electricity to power a small country but one Bitcoin wouldn't power NYC. Coins other than crypto are more efficient but still require power.

    I was reading Amazon is considering creating its own crypto currency and people think that would be the end of Bitcoin. Having said that they have been predicting the end of Bitcoin for years so who the hell knows. I am impressed it has been making a solid base lately but tbh everyone is talking about it now which I'm not sure is a good thing.

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    Default Re: 19,519 --- how much higher can Bitcoin go?

    problem is with mining you really need a good computer. pretty expensive but some after a 6 months you paid of your computer if you buy a new one. but the problem is ether is gonna stop the mining in the near future so im not sure if its worth mining but there Is heaps of other cryptocurrency.

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    Default Re: Official saddo financial thread

    Not only do you need a good computer and a huge source of electricity but you have to have all the software required because you need so many different kinds of software to use in synchronicity

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    Default Re: Official saddo financial thread

    Quote Originally Posted by brocktonblockbust View Post
    Not only do you need a good computer and a huge source of electricity but you have to have all the software required because you need so many different kinds of software to use in synchronicity
    Just bought a MacBook Pro you think I can start mining with that?

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