OT: BITCOIN

[raw33man]

a lot of people are investing in bitcoins, the prices are going up crazy... I personally talked to someone who made 350k off of bitcoins, he spent a 1000 dollars when they were 10 bucks and now they are 350 each !!!!

Any information on this, please share

 

[K1]

I would suggest waiting until Silk Road 2.0 gets taken down...When the original Silk Road was taken down by the Feds bitcoin dropped like a rock...It has since skyrocketed again so best bet would be to wait until another major bust from one of those sites that use it heavily for the price to drop again.....

 

[Google&Pubmed]

SR background and why the it'll be a long time before the new goes down

That's the thing. When the original SR went down they actually went down very little to what happen in the past because they were other sites like SR and a lot of people's were in SR so they couldn't sell their coins.

Since then at least 3 other sites have been opened up and the original SR went down because they guy put a hit on one guy and he had thought he killed one guy in the past (they were agents working together so they faked the guys death and sent him the pictures).

He also used his real name with his real email to ask around for IT guys and to promote his account. He did so many stupid things that these guys haven't done.

They took down Napster and that took YEARS and these new sites are not like Napster anymore.

Bitcoins and why this right now is really scary
Okay so here is the issue. The last huge bitcoin crash was because hackers overloaded MTGox and it slowed transactions down so much that people panicked and sold all they could. Since then (since it was the second time I believe) people said fuck you MTGox and your cheap ass's for not fixing this the first time. So now they base the prices off of MTGox and Bitstamp.

Why right now is really scary is because the prices are very higher and they are a lot of smart hackers out there. So they might be working on crash all the major sites at once so people freak out again and sell every, make prices drop, purchase the coins, and watch a HUGE recovery within a short amount of time. The hackers own coins, sell all they got, crash the market, and buy more coins and sit on them.

There is already a hedge funds based on them and they got in last year I believe. So shit has been serious for a while now. Oh and I think one to two countries accept them as a currency.

P.S. Just noticed this is a 4 day old freak

 

[raw33man]

wtf it's 630 now !!! When I posted that it was like 400 lol

I hope it does crash so I can buy more, because china is investing big money in bitcoins and chinese are samrt, they went from POOR to America owing them money

 

[Gottagetit]

Just hit all time high 800, crazy

 

[JonnyO]

Crazy I never even thought twice about looking into these, wish i had now, lol.

So when are these expected to go down again and how low is it figured will be when it does?

Good for those that invested early!

 

[richiec]

wtf it's 630 now !!! When I posted that it was like 400 lol

I hope it does crash so I can buy more, because china is investing big money in bitcoins and chinese are samrt, they went from POOR to America owing them money

Chinese people are still poor and the "money" that we owe them isn't quite as much as you think. This is going to be another bubble to burst soon. Anything that is done electronically can and will be artificially inflated, so next time they're down, but them and then sell as soon as they take off. I have a feeling that this type of currency, while still in its infancy, won't last too long due to the above mentioned problems.

 

[fitnesskatz]

Who put that in your head

Sent from my HTC One VX using Tapatalk

 

[raw33man]

800+ bucks now

it was 350 13 days ago, DAMN SON

 

[Google&Pubmed]

It crashed for one day. Went to $500 and then back up to $730.

I had 38 bitcoins one time but had to sell them to pay for medical bills. A semester ago I had about $1200 in it but I had to sell them again to for college bills. So much money....so so so much!

 

[raw33man]

Lol some say it could go up to 10k

 

[Deleted member 121863]

this is hilarious. People complain about the USD being a fiat currency because it is not really backed by anything besides THE GOOD FAITH OF THE UNITED STATES OF AMERICA!! Bitcoin is backed by absolutely NOTHING, NADA, ZILCH! It is so easily manipulated and not an investment by any means, more like putting some money on the ponies. Give some news that the US govt is shutting them down or placing regs on bitcoins you will see value drop 90% overnight, if not to zero.

 

[fitnesskatz]

fitnesskatz

800+ bucks now

it was 350 13 days ago, DAMN SON

naw man i was referring to dude that posted above me bout china being poor,,,

 

[fitnesskatz]

fitnesskatz

It crashed for one day. Went to $500 and then back up to $730.

I had 38 bitcoins one time but had to sell them to pay for medical bills. A semester ago I had about $1200 in it but I had to sell them again to for college bills. So much money....so so so much!

that education will pay off one these days for you though man,,,i have 50 that i plan on holding on to i bought in way back at 24 and some change,,,

 

[raw33man]

1150

UNBELIEVABLE FUCKING SHIT !!

 

[evolutionpep]

I would suggest waiting until Silk Road 2.0 gets taken down...When the original Silk Road was taken down by the Feds bitcoin dropped like a rock...It has since skyrocketed again so best bet would be to wait until another major bust from one of those sites that use it heavily for the price to drop again.....

Great info bro!

 

[evolutionpep]

SR background and why the it'll be a long time before the new goes down

That's the thing. When the original SR went down they actually went down very little to what happen in the past because they were other sites like SR and a lot of people's were in SR so they couldn't sell their coins.

Since then at least 3 other sites have been opened up and the original SR went down because they guy put a hit on one guy and he had thought he killed one guy in the past (they were agents working together so they faked the guys death and sent him the pictures).

He also used his real name with his real email to ask around for IT guys and to promote his account. He did so many stupid things that these guys haven't done.

They took down Napster and that took YEARS and these new sites are not like Napster anymore.

Bitcoins and why this right now is really scary
Okay so here is the issue. The last huge bitcoin crash was because hackers overloaded MTGox and it slowed transactions down so much that people panicked and sold all they could. Since then (since it was the second time I believe) people said fuck you MTGox and your cheap ass's for not fixing this the first time. So now they base the prices off of MTGox and Bitstamp.

Why right now is really scary is because the prices are very higher and they are a lot of smart hackers out there. So they might be working on crash all the major sites at once so people freak out again and sell every, make prices drop, purchase the coins, and watch a HUGE recovery within a short amount of time. The hackers own coins, sell all they got, crash the market, and buy more coins and sit on them.

There is already a hedge funds based on them and they got in last year I believe. So shit has been serious for a while now. Oh and I think one to two countries accept them as a currency.

P.S. Just noticed this is a 4 day old freak

Great stuff bro!

 

[evolutionpep]

Just hit all time high 800, crazy

Even higher now!

 

[evolutionpep]

Crazy I never even thought twice about looking into these, wish i had now, lol.

So when are these expected to go down again and how low is it figured will be when it does?

Good for those that invested early!

Me too bro!

 

[evolutionpep]

this is hilarious. People complain about the USD being a fiat currency because it is not really backed by anything besides THE GOOD FAITH OF THE UNITED STATES OF AMERICA!! Bitcoin is backed by absolutely NOTHING, NADA, ZILCH! It is so easily manipulated and not an investment by any means, more like putting some money on the ponies. Give some news that the US govt is shutting them down or placing regs on bitcoins you will see value drop 90% overnight, if not to zero.

I agree to an extent. The IRS has to figure out what they will do with BTC. If you bought in at $10 and cash out at $1,000 than you have to pay capital gains. :banghead: