Economy Bitcoin Doubters, Come Eat Your Crow

[IDL]

The price is ridiculous.

"How can she slap!"

I just sold my last coin. I'm out.

 

[MilesAbove]

Both Kant and Bertrand Russell in this thread, so you know it's high-brow.

 

[ssj4goku1992]

My fucking god, if you bought this shit in January, now you could sell it for 5 times as much money...
I really don't understand this Bitcoin shit but now it seems that you could have made a ton of money if you did that...
I have a friend who thinks that he'll become a millionare with this crap and he bought 10k or so of bitcoins and he also tries to mine it or something like that...

I kept telling him that it's a bubble and it would burst sometime, it won't just grow like forever... But at the very least to have bought it in January and to sell it now for 5 times the price would have been an amazing way of making money...

The problem is that you would not sell it now. You would wait for it to increase its price more and more cause thats human nature.... Even though there are tons of forums and things dedicated for it... When i see even my old lady neighbour hearing about making money off bitcoin i know that this ship is sailing soon...

 

[IDL]

My fucking god, if you bought this shit in January, now you could sell it for 5 times as much money...
I really don't understand this Bitcoin shit but now it seems that you could have made a ton of money if you did that...
I have a friend who thinks that he'll become a millionare with this crap and he bought 10k or so of bitcoins and he also tries to mine it or something like that...

I kept telling him that it's a bubble and it would burst sometime, it won't just grow like forever... But at the very least to have bought it in January and to sell it now for 5 times the price would have been an amazing way of making money...

The problem is that you would not sell it now. You would wait for it to increase its price more and more cause thats human nature.... Even though there are tons of forums and things dedicated for it... When i see even my old lady neighbour hearing about making money off bitcoin i know that this ship is sailing soon...

If he was smart he would at least sell enough to recover his initial investment. Then he can gamble the rest if he wants without risking a loss.

Seems pretty obvious that it is primarily speculation that is driving the prices up so there has to be a lot of risk involved with holding and hoping it just keeps shooting up.

 

[ssj4goku1992]

If he was smart he would at least sell enough to recover his initial investment. Then he can gamble the rest if he wants without risking a loss.

Seems pretty obvious that it is primarily speculation that is driving the prices up so there has to be a lot of risk involved with holding and hoping it just keeps shooting up.

Yes, it's quite a good idea. Or keep half of it, what you invested and some profit. And gamble the rest.
But as you have said it's quite clear that it will hit a plateau soon. Or it will crash and burn...

 

[JonesBones]

https://99bitcoins.com/who-accepts-bitcoins-payment-companies-stores-take-bitcoins/

Spoiler

• WordPress.com – An online company that allows user to create free blogs
• Overstock.com – A company that sells big ticket items at lower prices due to overstocking
• Subway – Eat fresh
• Microsoft – Users can buy content with Bitcoin on Xbox and Windows store
• Reddit – You can buy premium features there with bitcoins
• Virgin Galactic – Richard Branson company that includes Virgin Mobile and Virgin Airline
• OkCupid – Online dating site
• Tigerdirect – Major electronic online retailer
• Namecheap – Domain name registrar
• CheapAir.com – Travel booking site for airline tickets, car rentals, hotels
• Expedia.com – Online travel booking agency
• Gyft – Buy giftcards using Bitcoin
• Newegg.com – Online electronics retailer now uses bitpay to accept bitcoin as payment
• 1-800-FLOWERS.COM – United States based online floral and gift retailer and distributor
• Fiverr.com – Get almost anything done for $5
• Dell – American privately owned multinational computer technology company
• Wikipedia – The Free Encyclopedia with 4 570 000+ article
• Steam – Desktop gaming platform
• The Internet Archive – web documatation company
• Bitcoin.Travel – a travel site that provides accommodation, apartments, attractions, bars, and beauty salons around the world
• Pembury Tavern – A pub in London, England
• Old Fitzroy – A pub in Sydney, Australia
• The Pink Cow – A diner in Tokyo, Japan
• The Pirate Bay – BitTorrent directories
• Zynga – Mobile gaming
• Tesla – The car company
• 4Chan.org – For premium services
• EZTV – Torrents TV shows provider
• Mega.co.nz – The new venture started by the former owner of MegaUpload Kim Dotcom
• Lumfile – Free cloud base file server – pay for premium services
• Etsy Vendors – 93 of them
• PizzaForCoins.com – Domino’s Pizza signed up – pay for their pizza with bitcons
• Whole Foods – Organic food store (by purchasing gift card from Gyft)
• Bitcoincoffee.com – Buy your favorite coffee online
• Grass Hill Alpacas – A local farm in Haydenville, MA
• Jeffersons Store – A street wear clothing store in Bergenfield, N.J
• Helen’s Pizza – Jersey City, N.J., you can get a slice of pizza for 0.00339 bitcoin by pointing your phone at a sign next to the cash register
• A Class Limousine – Pick you up and drop you off at Newark (N.J.) Airport
• Seoclerks.com – Get SEO work done on your site cheap
• Mint.com – Mint pulls all your financial accounts into one place. Set a budget, track your goals and do more
• Fancy.com – Discover amazing stuff, collect the things you love, buy it all in one place (Source: Fancy)
• Bloomberg.com – Online newspaper
• Humblebundle.com – Indie game site
• BigFishGames.com – Games for PC, Mac and Smartphones (iPhone, Android, Windows)
• Suntimes.com – Chicago based online newspaper
• San Jose Earthquakes – San Jose California Professional Soccer Team (MLS)
• Square – Payment processor that help small businesses accept credit cards using iPhone, Android or iPad
• Crowdtilt.com – The fastest and easiest way to pool funds with family and friends (Source: crowdtilt)
• Lumfile – Server company that offers free cloud-based servers
• Museum of the Coastal Bend – 2200 East Red River Street, Victoria, Texas 77901, USA
• Home Depot – Office supplies store
• Kmart – Retail products store
• Sears – Clothing and household products, electronic store
• Gap, GameStop and JC Penney – have to use eGifter.com
• Etsy Vendors – Original art and Jewelry creations
• Fight for the Future – Leading organization finding for Internet freedom
• i-Pmart (ipmart.com.my) – A Malaysian online mobile phone and electronic parts retailer
• curryupnow.com – A total of 12 restaurants on the list of restaurants accept bitcoins in San Francisco Bay Area
• Dish Network – An American direct-broadcast satellite service provider
• The Libertarian Party – United States political party
• Yacht-base.com – Croatian yacht charter company
• Euro Pacific – A major precious metal dealer
• CEX – The trade-in chain has a shop in Glasgow, Scotland that accepts bitcoin
• Straub Auto Repairs – 477 Warburton Ave, Hastings-on-Hudson, NY 10706 – (914) 478-1177
• PSP Mollie – Dutch Payment Service
• Intuit – an American software company that develops financial and tax preparation software and related services for small businesses, accountants and individuals.
• ShopJoy – An Australian online retailer that sells novelty and unique gifts
• Lv.net – Las Vegas high speed internet services
• ExpressVPN.com – High speed, ultra secure VPN network
• Grooveshark – Online music streaming service based in the United States
• Braintree – Well known payments processor
• MIT Coop Store – Massachusetts Institute of Technology student bookstore
• SimplePay – Nigeria’s most popular web and mobile-based wallet service
• SFU bookstore – Simon Fraser University in Vancouver, Canada
• State Republican Party – First State Republican Party to accept bitcoin donations (http://www.lagop.com/bitcoin-donate)
• mspinc.com – Respiratory medical equipment supplies store
• Shopify.com – An online store that allows anyone to sell their products
• Famsa – Mexico’s biggest retailer
• Naughty America – Adult entertainment provider
• Mexico’s Universidad de las Américas Puebla – A major university in Mexico
• LOT Polish Airlines – A worldwide airline based in Poland
• MovieTickets.com – Online movie ticket exchange/retailer
• Dream Lover – Online relationship service
• Lionsgate Films – The production studio behind titles such as The Hunger Games and The Day After Tomorrow
• Rakutan – A Japanese e-commerce giant
• Badoo – Online dating network
• RE/MAX London – UK-based franchisee of the global real estate network
• T-Mobile Poland – T-Mobile’s Poland-based mobile phone top-up company
• Stripe – San Francisco-based payments company
• WebJet – Online travel agency
• Green Man Gaming – Popular digital game reseller
• Save the Children – Global charity organization
• NCR Silver – Point of sales systems
• One Shot Hotels – Spanish hotel chain
• Coupa Café in Palo Alto
  
  
• PureVPN – VPN provider
• That’s my face – create action figures
• Foodler – North American restaurant delivery company
• Amagi Metals – Precious metal furnisher

It's worth noting that many of those companies no longer accept it. Such as Dell, Expedia and New Egg. PRobably a lot more. Only ones I cared to look up.Tesla also has NEVER accepted Bitcoin.

 

[BJ@LW&WW]

I can buy anything with American cash. It is the most liquid asset there is. I can't buy shit with Bitcoin.

Also:

Bitcoin investors were hit Tuesday by a double whammy of worrisome news from Russia, where President Vladimir Putin denounced the cryptocurrency as risky and used by criminals, and the country’s central bank said it would support moves to block websites dealing in bitcoin and other virtual currencies.

“The use of cryptocurrencies bears serious risks,” which include money laundering, tax evasion and terrorism funding, Putin said at a conference in Sochi, Russia,according to Bloomberg News. Putin called for more regulations, and said Russia should look to other nations in developing rules. He warned, though, that “it’s also important not to put up too many barriers,” Bloomberg reported.

http://www.marketwatch.com/story/pu...ank-come-down-hard-against-bitcoin-2017-10-10

China banned bitcoin exchanges too

and

Finally, it is hard to see what would stop central banks from creating their own digital currencies and using regulation to tilt the playing field until they win. The long history of currency tells us that what the private sector innovates, the state eventually regulates and appropriates.

Price of bitcoin will collapse, says economist Rogoff, who wrote the book on currencies

http://www.marketwatch.com/story/pr...t-who-wrote-the-book-on-currencies-2017-10-09


He is saying the technology/virtual currency will eventually "thrive". But not Bitcoin. Doesn't matter what "starting principle" it had. That principle can and will be distorted/disregarded.

lol you literally didnt address a single thing i said. im not gonna try to convince you of anything; you only want to read what you already think you know.

but fyi, you do know bitcoin is at an all time high right now right?

 

[Cuauhtemoc]

lol you literally didnt address a single thing i said. im not gonna try to convince you of anything; you only want to read what you already think you know.

but fyi, you do know bitcoin is at an all time high right now right?

It will be worth as much as people are willing to pay for it right now, but it could suddenly crash if governments wanted to. It's simple, close all the exchanges.
Then you will be stuck with bitcoins that will be useless as nobody accepts them if they can't exchange it for some fiat money.
Fiat money on the other hand is useful because by law you need to accept it in a given country and you also need it to pay taxes.

 

[Andy Capp]

Yes. My countrymen were smart enough to hand a snowboard instructor the keys to the kingdom because he promised them legal weed.

He's also leading the country with the strongest economy in the G7. So, doing more good than harm, I'd say. Can't say the same for our neigbours to the south.

 

[irish_thug]

He's also leading the country with the strongest economy in the G7. So, doing more good than harm, I'd say. Can't say the same for our neigbours to the south.

Were you saying the same about harper when he was doing the same?

 

[Deleted member 196663]

I still have no idea what bitcoin is.

 

[Bargey]

Eh good for the lucky ones who made cash in it but it's going to burst abd just flatten out to the occasional black market transaction

 

[Andy Capp]

Were you saying the same about harper when he was doing the same?

Harper certainly appeared to try to do at least as much harm as good at every opportunity. Couldn't stand him. He's another douchebag that never worked a real job in his life. Ptui.

 

[mike sherry]

It spiked up at one point and stopped a long time ago. You are silly if you think we are eating crow. It isn't a good investment (and actually shouldn't be seen as one because it's a currency but many of it's user's don't understand that either) and depends on the hype of others to think it works. and dump their money into it.

loling again

 

[IDL]

$5800 USD per coin and it has been going up steadily. It's insane.

 

[mike sherry]

$5800 USD per coin and it has been going up steadily. It's insane.

Its really not. Bitcoin will only go up when compared to the USD because it is deflationary.

Anyone not investing 10% of their portfolio in crypto is leaving money on the table.

The technology is incredibly disruptive. its like the uber of banking. Bitcoin allows you to be your own bank. It's amazing.

 

[Lead]

loling again

I stand by my points.

 

[IDL]

Its really not. Bitcoin will only go up when compared to the USD because it is deflationary.

Anyone not investing 10% of their portfolio in crypto is leaving money on the table.

The technology is incredibly disruptive. its like the uber of banking. Bitcoin allows you to be your own bank. It's amazing.

There is a future for electronic currency, but come on. Bitcoin prices are going up to the degree they are because so many people are speculating and trying to make money on it.

I actually think that electronic currency is the desired future model for the globalized economy, at least in large part. I don't know if it will be Bitcoin or not though. I kinda suspect Bitcoin is an experiment of sorts. A trial run perhaps.

 

[mike sherry]

I stand by my points.

Its hard for me to take anything you say about bitcoin seriously when you clearly havent even read the white paper to even ATTEMPT to understand the protocol

 

[mike sherry]

There is a future for electronic currency, but come on. Bitcoin prices are going up to the degree they are because so many people are speculating and trying to make money on it.

I actually think that electronic currency is the desired future model for the globalized economy, at least in large part. I don't know if it will be Bitcoin or not though. I kinda suspect Bitcoin is an experiment of sorts. A trial run perhaps.

Speculation is of course part of what is driving the price up. But it will only go up independently. We are seeing use cases pop up across socialist countries.

Mark my words, as long as the currency is unhackable the price will continue to go up.

This adoption so far is nothing.

We don't even have killer applications yet. When Bitcoin adds the lightning network functionality transactions will be even faster and cheaper.

Ethereum does not even have a good use case yet. 300 for ethereum is probably cheap considering the potential of smart contracts.