Bitcoin to hit $500,000 mark by 2030?

Quote: Greasyjohn

I tried to understand Bitcoin. I read several articles and viewed YouTube. Still don't get it. I know there are other types of cyber currency or whatever you want to call it. Can't see where people are willing to pay real currency for it. What's to stop hundreds of people starting their own worthless currency? Bitcoin for Dummies didn't help. Who were the first few people that were able to convert Bitcoin into hard cash and why?

I'll try to describe it as simply as possible -- some parts may not be 10000% technically right, but close enough.

Money in your bank account is just a number that's assigned to your account. The money isn't actually "in" your account. When you ask for money, that number goes down, when you put money in, that number goes up. Everyone (pretty much) knows this, but that's how it is.

What happens when the bank gets hacked or something goes wonky? The information is stored in one (or a few) areas. It's susceptible to being hacked. Once that information is stolen/modified, what're you gonna do? It's gone and can't be replaced.

Alternatively, bitcoin works as a decentralized public ledger. Essentially, that information is stored on hundreds or thousands of computers around the world. If you want to steal money from someone, you're going to have to hack many computers.


With a credit card, you have to give someone else your information (your credit card number) and they charge you whatever they want. If your credit card information gets stolen (I think like every company has been hacked and CC's stolen), the hackers can use those CC's and buy stuff.

With cryptocurrency, you have to send money to the other person. With the information that person gets they cannot use it to bill you later on.

It's kind of like cash. If I want to give someone $100, I give him a $100 bill, and that's that. He can't somehow "charge" me extra or take my money by me giving him cash. He gets whatever he gets. If I want to give him $100 using a credit card, I give him my credit card, then he charges me however much he wants (SHOULD be $100, but if it's a waitress at a restaurant and wants to copy my info and use it later, I'm SOL....).


There are other benefits, like you can send money nearly instantaneously. Ever try doing a wire transfer to another country? Takes forever.

I think some people are doing "smart contracts" or something with insurance with cryptocurrency (which, TBH, I don't quite understand)....but, somehow it works and has benefits.

Not to mention, it isn't (at least in theory) controlled by a government, meaning the government can't just print up more USD....inflation....blah blah blah. I think Venezuela's economy is pretty F'd up right now.

I reckon some marijuana shops are using cryptocurrency because they can't open accounts at a bank because federal laws supposedly.

If you want to fund an online account, instead of keeping your balance in USD, you can keep it in some specific cryptocurrency. I could use "XYZ Coin" on twitter to make donations to streamers if I want, or I can have a coin on PayPal, Ebay, Amazon, etc. to use.


People can start their own worthless currency, but that doesn't mean it magically becomes worth something. If there's a use for it, then people will pay the price for it. But if it does nothing, no one's going to buy it (by and large). It's worth whatever people are willing to pay, just like everything else, including our currency or another nation's currency.

Quote: Deucekies

ZK is reminding me of the guy at the blackjack table who says "See? I saved the table."

More like the guy standing by the table who saved it by not playing.

Quote: RS

I'll try to describe it as simply as possible -- some parts may not be 10000% technically right, but close enough.

Money in your bank account is just a number that's assigned to your account. The money isn't actually "in" your account. When you ask for money, that number goes down, when you put money in, that number goes up. Everyone (pretty much) knows this, but that's how it is.

What happens when the bank gets hacked or something goes wonky? The information is stored in one (or a few) areas. It's susceptible to being hacked. Once that information is stolen/modified, what're you gonna do? It's gone and can't be replaced.

Alternatively, bitcoin works as a decentralized public ledger. Essentially, that information is stored on hundreds or thousands of computers around the world. If you want to steal money from someone, you're going to have to hack many computers.


With a credit card, you have to give someone else your information (your credit card number) and they charge you whatever they want. If your credit card information gets stolen (I think like every company has been hacked and CC's stolen), the hackers can use those CC's and buy stuff.

With cryptocurrency, you have to send money to the other person. With the information that person gets they cannot use it to bill you later on.

It's kind of like cash. If I want to give someone $100, I give him a $100 bill, and that's that. He can't somehow "charge" me extra or take my money by me giving him cash. He gets whatever he gets. If I want to give him $100 using a credit card, I give him my credit card, then he charges me however much he wants (SHOULD be $100, but if it's a waitress at a restaurant and wants to copy my info and use it later, I'm SOL....).


There are other benefits, like you can send money nearly instantaneously. Ever try doing a wire transfer to another country? Takes forever.

I think some people are doing "smart contracts" or something with insurance with cryptocurrency (which, TBH, I don't quite understand)....but, somehow it works and has benefits.

Not to mention, it isn't (at least in theory) controlled by a government, meaning the government can't just print up more USD....inflation....blah blah blah. I think Venezuela's economy is pretty F'd up right now.

I reckon some marijuana shops are using cryptocurrency because they can't open accounts at a bank because federal laws supposedly.

If you want to fund an online account, instead of keeping your balance in USD, you can keep it in some specific cryptocurrency. I could use "XYZ Coin" on twitter to make donations to streamers if I want, or I can have a coin on PayPal, Ebay, Amazon, etc. to use.


People can start their own worthless currency, but that doesn't mean it magically becomes worth something. If there's a use for it, then people will pay the price for it. But if it does nothing, no one's going to buy it (by and large). It's worth whatever people are willing to pay, just like everything else, including our currency or another nation's currency.

So it's Paypal, without the regulation or security.
Explain this, please. Lets say BC is fluctuating between 6,000 and $8,000 on a particular day. I buy an ounce of spice off someone. How do I know what I paid for it?
Lets say the cash price is $1,000 but I pay in BC.
Who do I pay?
When do I pay? How quickly does it settle? Is it settled at the BC price the instant the deal was made or the price when the transaction is processed?
How does the seller get the money? Does he pay a fee ? Do I pay a fee?
If transactions aren't instant, what prevents me from buying six BCs worth of spice, one ounce at a time from six dealers, all of whom think they are getting my one BC?
I've yet met anyone who has said they use these as anything but investments.

Quote: billryan

So it's Paypal, without the regulation or security.
Explain this, please. Lets say BC is fluctuating between 6,000 and $8,000 on a particular day. I buy an ounce of spice off someone. How do I know what I paid for it?
Lets say the cash price is $1,000 but I pay in BC.
Who do I pay?
When do I pay? How quickly does it settle? Is it settled at the BC price the instant the deal was made or the price when the transaction is processed?
How does the seller get the money? Does he pay a fee ? Do I pay a fee?
If transactions aren't instant, what prevents me from buying six BCs worth of spice, one ounce at a time from six dealers, all of whom think they are getting my one BC?
I've yet met anyone who has said they use these as anything but investments.

It's an investment vehicle for now, but I'm 100% certain within 20-30 years this will be mainstream when millennials and kids today become the new adults. They are simply more open-minded about things like this and grew up through the digital age. Adults today for example are more old-school and would never touch bitcoin. They will hear of virtual currency and immediately label it a 'scam' and go back to their government backed printed paper which they think is so 'safe'.

Quote: billryan

So it's Paypal, without the regulation or security.
Explain this, please. Lets say BC is fluctuating between 6,000 and $8,000 on a particular day. I buy an ounce of spice off someone. How do I know what I paid for it?
Lets say the cash price is $1,000 but I pay in BC.
Who do I pay?
When do I pay? How quickly does it settle? Is it settled at the BC price the instant the deal was made or the price when the transaction is processed?
How does the seller get the money? Does he pay a fee ? Do I pay a fee?
If transactions aren't instant, what prevents me from buying six BCs worth of spice, one ounce at a time from six dealers, all of whom think they are getting my one BC?
I've yet met anyone who has said they use these as anything but investments.

Eventually, or at least the plan would be, for it to eventually stop fluctuating. Right now it’s still very new. Also, if we move over into a crypto “economy” then it doesn’t matter what it’s worth in terms of USD — at that point, it’d be USD that’s fluctuating, not BTC.

BTC transactions are pretty long. Typically 30-60 minutes. But many cryptocurrencies are a few seconds to a few minutes. I think DASH transaction times are like 5-10 sec.

You pay the guy you’re buying spice from. The price is determined at whatever price it’s at when you initiate the transaction. But in the future, it wouldn’t be “it costs $1000 but you can use BTC”, it’d be “it costs 0.05 BTC” (or whatever they wanna charge). Just like today we don’t say, “it costs $36 but you can pay 2 oz of silver”....it’s just “$36”.

Each party has a BTC wallet. If I want to send you money, either you can send me your public key address code and I send it to that address, or I can scan your public key QR code. I believe there are apps for a smart phone that can do all that stuff.

Money goes to that person’s wallet. Just like when a restaurant charges your credit card (I assume), that amount goes into their bank account.

AFAIK, all cryptocurrencies have a transaction fee. Some are constant (IIRC BTC is 0.001 BTC fee. Some are a %).

You can’t just make 5 transactions at once and make it seem like you sent them all money. This is something the miners are working on, to make sure all the “accounting” all matches up. If it tries to take BTC from a wallet that doesn’t have it, the transaction won’t be verified (because there’s no BTC to transfer). But yeah, transaction times with BTC specifically is a problem because they take a long time. But I think either BTC would be replaced by something else that’s more elegant or BTC would be used as a base currency (like gold “backs up” USD).

Quote: billryan

So it's Paypal, without the regulation or security.
Explain this, please. Lets say BC is fluctuating between 6,000 and $8,000 on a particular day. I buy an ounce of spice off someone. How do I know what I paid for it?
Lets say the cash price is $1,000 but I pay in BC.
Who do I pay?
When do I pay? How quickly does it settle? Is it settled at the BC price the instant the deal was made or the price when the transaction is processed?
How does the seller get the money? Does he pay a fee ? Do I pay a fee?
If transactions aren't instant, what prevents me from buying six BCs worth of spice, one ounce at a time from six dealers, all of whom think they are getting my one BC?
I've yet met anyone who has said they use these as anything but investments.

I've dealt with an IRL person for trading bitcoin. I use a website, send him a request to buy 1 BTC @ $10,000. He agrees and the website locks in the price, $10,000 for 1 BTC. I don't know exactly how long you can float it but I make it a point to meet ASAP as possible. I don't want to freeroll the guy and cancel if the price goes down, and I don't want to get freerolled if the price goes up.

I use BTC 100% aside from investing as a way to fund online books. They usually give you a 15 minute window after you initiate a transfer to send your BTC. I actually much prefer ETH or some other fast and cheap coin to transfer but that's the way things are now.

Let the record show I'm officially in the Bitcoin game. I didn't buy it as an investment but to play some casino bonuses and Bitcoin is the easiest way for US players to deposit these days. So I now am the owner of 0.09815 Bitcoin, which I purchased for $1,000.

Now, the crash can resume.

If you bought it as an investment, it would crash 100%. If you bought it to transfer money, the odds are reduced to 25%.

Quote: black2

If you bought it to transfer money, the odds are reduced to 25%.

I held it only for about 15 minutes and then deposited it into a casino in the form of USD. Must say it was surprisingly easy. I heard about waiting periods to get a Bitcoin transaction through but it all happened in a few seconds. Never made a deposit so easily before. I'm kind of warming up to this Crypo-currency idea after all.

In case anyone is wondering how I bought the Bitcoin in the first place, I purchased some from a friend in cash.

Does your friend have more BTC they’d be willing to sell (at/near market price)? I’d like to buy a bit more, but don’t feel like paying the 5%+ mark up. I’d be using it to fund other stuff, so I don’t wanna do the Wizcoin thing (unless you’re offering a really good price!).

"BTC transactions are pretty long. Typically 30-60 minutes. But many cryptocurrencies are a few seconds to a few minutes. I think DASH transaction times are like 5-10 sec."

Bitcoin blocktime is 10min. It depends on if your transaction is in the next block and how many confirmations the sportsbook or casino requires before your deposit shows up. With something like dash or eth even if the blocktimes are lower the online casino might require 100 confirmations.

"AFAIK, all cryptocurrencies have a transaction fee. Some are constant (IIRC BTC is 0.001 BTC fee. Some are a %)."

The fees are not constant but some places will charge a flat network fee to withdraw so they dont have to caculate what the network fee should be.

What's up with all the HODLers? Still got the FOMO fever?

Bitcoin was $10,694 when I first looked into it on 2-18. Today it's $6,686.

Hey, I’m still up on my cryptocurrency investments (~8% of all invested), even though I put in an extra 50% of my original investment a few days ago. But now’s the time to buy. Think I might put in another order soon.

Edit: Lambos will be coming soon. Don’t worry there MaxiePad, they’re coming.

Quote: Wizard

I held it only for about 15 minutes and then deposited it into a casino in the form of USD. Must say it was surprisingly easy. I heard about waiting periods to get a Bitcoin transaction through but it all happened in a few seconds. Never made a deposit so easily before. I'm kind of warming up to this Crypo-currency idea after all.

In case anyone is wondering how I bought the Bitcoin in the first place, I purchased some from a friend in cash.

Some sites, like Bovada, will credit your account immediately after the transaction is broadcasted. A broadcast takes a few seconds. Other sites, like 5dimes, wait for 1 confirmation which can take anywhere from 5 to 20 minutes. Sometimes much longer during heavy congestion. Crypto is great to move money on and off of the sites and even better if you have a friend that will buy/sell crypto.

Quote: RS

Does your friend have more BTC they’d be willing to sell (at/near market price)? I’d like to buy a bit more, but don’t feel like paying the 5%+ mark up. I’d be using it to fund other stuff, so I don’t wanna do the Wizcoin thing (unless you’re offering a really good price!).

Not at the moment. I'll let him know of your interest.

I personally believe at least one and probably a few cryptocurrencies will survive and be used well into the future, with prices much higher than they are now (maybe not $500,000, lol). This is my personal belief based on the advantages of the technology. Yes there are many disadvantages as well. Yes governments around the world will continue to fight it since it is against their best interest for a currency to exist that they don't control. I don't debate these facts, but I think cryptos will survive and be used in spite of them.

All that being said, I had never purchased a single coin until a couple of days ago. I watched the big run up to $20k and decided I didn't want any part of that. When it started falling, I considered where I wanted to get in. I decided to try to catch the falling knife, and it looks like I got sliced up real bad lol.

I only invested $500, so it's not a big deal. I would really like to actually use these coins to do commerce, but so far there isn't anything I want to buy that I can purchase with any of my coins. I think that will change, too. For reference here is what I now own:
BTC 0.02439406
ETH 0.425
BCH 0.05412643
LTC 0.346

My initial investment was $200 each into BTC and ETH, and $50 each into LTC and BCH. Current value is about $413 and falling like a rock. I will, indeed, be HODLing for the long term with these, minus any I happen to spend. I don't plan on exchanging any back to USD just to cash out. I suppose if my investment were to go up 100x (to $50,000) I probably wouldn't be able to resist taking some profits, but I don't think that's going to happen any time soon.

Oh and my advice for anyone who wants to get in: use GDAX (gdax.com). It is run and owned by Coinbase, but it is an open trading market where you are trading with other folk, not buying from Coinbase. The reality of what happening is about the same; Coinbase is still a middle man, but the fees on GDAX are lower, and there is NO FEE to send your coins out to a different wallet (they cover the transaction fee, at least for now). The interface in GDAX is a little less user-friendly, but if you are used to buying and selling stocks it is pretty familiar.

The trading fees on GDAX are either 0.25% or 0, depending if you are the maker or the taker of the trade. I don't really understand these terms that well, but 2 of my trades ended up being free, and 2 were charged the 0.25% fee.

There is no fee to ACH your money in, either. I transferred USD to my Coinbase wallet, and once that transaction cleared (took 4 business days, which is long) it was free and instant to move those funds to my GDAX wallet and trade with them.

Bottom line, to pick up $500 of crypto I paid 65 cents. And I can send those coins to any other wallet for free, which I may do (probably to a cold storage/offline wallet). Coinbase has never been hacked, but they would be the #1 target right now if you were trying to hack an exchange. And I'm 100% sure a bunch of hackers are trying every day.

Yesterday, Wall Street giant Goldman Sachs announced that it has plans to begin trading in Bitcoin.

Goldman Sachs is one of the most prestigious and influential financial organizations in the entire world.


https://www.nytimes.com/2018/05/02/technology/bitcoin-goldman-sachs.html?rref=collection%2Fsectioncollection%2Fbusiness&action=click&contentCollection=business&region=rank&module=package&version=highlights&contentPlacement=1&pgtype=sectionfront

I’ve been looking into running a master node, at least just seeing what’s possible and what’s out there. Lots of the same stuff out there, it seems, when googling for this type of stuff. I’m still going to look into it some more, but if anyone has any good sources or info on this, I’d be thankful for it.

Quote: RS

I’ve been looking into running a master node, at least just seeing what’s possible and what’s out there. Lots of the same stuff out there, it seems, when googling for this type of stuff. I’m still going to look into it some more, but if anyone has any good sources or info on this, I’d be thankful for it.

on the 2 trades I made I got killed on the spread (bid/ask). at the time I believe a lot of the exchanges knew they could squeeze all these green traders out there

maybe things have changed now and it's better

but if you can tolerate a suggestion from me, I would suggest you diligently try to find the best deal on the spread that you can get by researching all of the available exchanges

The numbers are constantly called different, but it will definitely grow. The only question is with what progression and within what limits will fluctuate. Over the past two months, the picture is more or less stable, but what will be hard to predict further.

Central Washington State has complaints about bit coin mining soaking up the power grid.

Attention. It's once again time to load up on bitcoin. Thank me again later.

I just put my entire net worth into dogecoin.

Quote: ZenKinG

Attention. It's once again time to load up on bitcoin. Thank me again later.

Only if you like fraud.

"SAN FRANCISCO — A concentrated campaign of price manipulation may have accounted for at least half of the increase in the price of Bitcoin and other big cryptocurrencies last year, according to a paper released on Wednesday by an academic with a history of spotting fraud in financial markets."

I said this very thing last year, people
like the TwinkleToes Twins were screwing
with BC to drive the price up artificially.
It's a scam, it's crap, but hey, it's your
money to waste.

https://www.nytimes.com/2018/06/13/technology/bitcoin-price-manipulation.html

...so they basically did what the federal reserve does...

Quote: RogerKint

...so they basically did what the federal reserve does...

shhhh. 99% of the american population is asleep.

Let them keep printing money and depreciating every dollar in our wallets each day as well as charging our government interest on it when the constitution specifically allows the government to print money interest free. Let's also keep contributing to the debt system in place by getting loans, credit cards, mortgages, interest payments, and so much more. The amount of unconstitutional shit going on is ridiculous, but of course with an ignorant public, it will continue. God I wish I was born in the 1700s. Get me out of this droned out society.

Quote: ZenKinG

God I wish I was born in the 1700s. Get me out of this droned out society.

I'll take a lil taxation by inflation over getting gang raped by Redcoats while indians watch. I'm weak and I know it plus I like electricity.

Quote: RS

I just put my entire net worth into dogecoin.

What color is your Lambo gonna be?

Quote: RogerKint

What color is your Lambo gonna be?

Invisible.

Quote: ZenKinG

shhhh. 99% of the american population is asleep.

Anybody who buys Bitcoin is in a coma.

Quote: EvenBob

Anybody who buys Bitcoin is in a coma.

Yea, everyone except me. Go look up every single call I made about Bitcoin of whem to buy and sell. You domt realize bitcoin is a traders paradisw. Everyone is buying it to trade it, NOT as a long term investment that will one day take over fiat currency. Thats where your concept of buying is wrong.

Quote: ZenKinG

Yea, everyone except me. Go look up every single call I made about Bitcoin of whem to buy and sell. You domt realize bitcoin is a traders paradisw. Everyone is buying it to trade it, NOT as a long term investment that will one day take over fiat currency. Thats where your concept of buying is wrong.

This is part of the current problem. Until more people use it as currency it will be hard to hold its value. I am doing buy and hold at the moment, partly because I do not have enough to make trading worth it and part because coinbase takes too long to clear to trade.

I have heard the block size has or will soon hit a planned double, which means a price collapse then a huge run. Lets hope so.

As to using it as currency, the cost is so low that Visa/MC should be watching.

Quote: AZDuffman

This is part of the current problem. Until more people use it as currency it will be hard to hold its value. I am doing buy and hold at the moment, partly because I do not have enough to make trading worth it and part because coinbase takes too long to clear to trade.

I have heard the block size has or will soon hit a planned double, which means a price collapse then a huge run. Lets hope so.

As to using it as currency, the cost is so low that Visa/MC should be watching.

Bitcoin will have a very hard time ever becoming a mainstream currency. The corruption of the federal govt will stop it in some fashion whether its controlling each state(unconstitutional) to disallow any form of bitcoin purchasing, etc.

I also dont see people like my father or the older group of people today ever adopting this type of currency. The younger generation is much more open to virtual currency such as bitcoin and if anything it will take another 30 years or so for bitcoin to really explode and become a stable currency. When this young generation becomes the new adults and then have their kids also adopting the same philosophy about virtual currency after seeing their parents use it, then it can gain some real traction.

For now, it's nothing but a traders paradise. The real sharks making money on bitcoin are aggressively swing trading this.

Quote: ZenKinG

Bitcoin will have a very hard time ever becoming a mainstream currency. The corruption of the federal govt will stop it in some fashion whether its controlling each state(unconstitutional) to disallow any form of bitcoin purchasing, etc.

Hard to see how they stop it. They could choke it at the bank level for trading it to USD, that is about it. Some places are already letting you pay your local tax in BC so I really see it catching, though very slowly.

Quote: ZenKinG

Bitcoin will have a very hard time ever becoming a mainstream currency. The corruption of the federal govt will stop it in some fashion whether its controlling each state(unconstitutional) to disallow any form of bitcoin purchasing, etc.

I also dont see people like my father or the older group of people today ever adopting this type of currency. The younger generation is much more open to virtual currency such as bitcoin and if anything it will take another 30 years or so for bitcoin to really explode and become a stable currency. When this young generation becomes the new adults and then have their kids also adopting the same philosophy about virtual currency after seeing their parents use it, then it can gain some real traction.

For now, it's nothing but a traders paradise. The real sharks making money on bitcoin are aggressively swing trading this.

I dunno the evolution of money but I'm sure people adopted real quick from stones to livestock to grains to gold to fiat, since there is an incentive to hop on to the newest currency. But I do agree that it will take time, IF cryptocurrency becomes the main form of currency.

Don't remember exactly how long ago it was that I first heard of buying stuff on the internet with a credit card, to actually making my first purchase online, but eventually people will come around if it's a financially based decision.

Quote: djatc

I dunno the evolution of money but I'm sure people adopted real quick from stones to livestock to grains to gold to fiat, since there is an incentive to hop on to the newest currency. But I do agree that it will take time, IF cryptocurrency becomes the main form of currency.

If an AMZN starts taking it then things will happen fast. If AMZN took Litecoin then they would save tens to hundreds of millions in processing fees. And that part is inevitable. Just a matter of what coin they take.

Quote: AZDuffman

If an AMZN starts taking it then things will happen fast. If AMZN took Litecoin then they would save tens to hundreds of millions in processing fees. And that part is inevitable. Just a matter of what coin they take.

Yea ive mentioned that before as well in the past,. If a major retailer/online retailer or huge company like Microsoft could start endorsing it to give it some real credibility to all the uneducated people who never even heard the name, let alone what it is or how to use it, it would be huge and cause a snowball efect of people starting to research it amd wonder it's all about.

But like I said the Federal govt might try to halt these companies from using it in some unconstitutional way. Dont underestimate the power of the true elite who run this country. These Federal Reserve Bankers will do anything to keep their inflated paper fiat currency going strong. Any threat to it will come under intense scrutiny.

Quote: ZenKinG

Attention. It's once again time to load up on bitcoin. Thank me again later.

One of the companies I work with just installed 11 bitcoin kiosks in Las Vegas last week.

What percentage of your net-worth will you be buying in Bitcoin this month?

Quote: AZDuffman

If an AMZN starts taking it then things will happen fast. If AMZN took Litecoin then they would save tens to hundreds of millions in processing fees. And that part is inevitable. Just a matter of what coin they take.

Wouldn't this put them in the business of crypto speculation? I'd think they'd want it to be much more stable first.

Quote: Rigondeaux

Wouldn't this put them in the business of crypto speculation? I'd think they'd want it to be much more stable first.

Retailers that accept bitcoin like Jet and Overstock generally use a service that trades the bitcoin to USD immediately. They never end up holding any coin.

Quote: gamerfreak

Retailers that accept bitcoin like Jet and Overstock generally use a service that trades the bitcoin to USD immediately. They never end up holding any coin.

Exactly as I was thinking. Or they trade every so many minutes and recycle the crypto. If the cost is <1% they easily beat the merchant fees.

Quote: ZenKinG

Yea, everyone except me. Go look up every single call I made about Bitcoin of whem to buy and sell.

Hey Bitcoin man, offer some to a
potential landlord and you've got
it made. (snicker)

Quote: DRich

One of the companies I work with just installed 11 bitcoin kiosks in Las Vegas last week.

What percentage of your net-worth will you be buying in Bitcoin this month?

Bitcoin ATMs I've seen in Vegas are ripoffs. Well it's
got a big rake to offset the risk, so it makes sense.
Did a quick search and 5.6% seems to be the lowest,
with 12.5% the highest. If you want to do big
transactions over 2k or so you'll need to give up ID,
which kinda defeats the purpose of using a bitcoin ATM.

Quote: djatc

Bitcoin ATMs I've seen in Vegas are ripoffs. Well it's
got a big rake to offset the risk, so it makes sense.
Did a quick search and 5.6% seems to be the lowest,
with 12.5% the highest. If you want to do big
transactions over 2k or so you'll need to give up ID,
which kinda defeats the purpose of using a bitcoin ATM.

I think the fees were 5%-8% on the ones we put out.

I met a guy who buys and sells Bitcoin here in Vegas. He is a doctor by day and I suppose is a Bitcoin entrepreneur on the side. Nice guy as far as I can tell.

I doubt he wants to fuss with small transactions under $1,000 but if anyone is in Vegas and can come out to the west side, I think he would be happy to do business at a fair price. I think he prefers selling to buying.

Quote: Wizard

I met a guy who buys and sells Bitcoin here in Vegas. He is a doctor by day and I suppose is a Bitcoin entrepreneur on the side. Nice guy as far as I can tell.

I doubt he wants to fuss with small transactions under $1,000 but if anyone is in Vegas and can come out to the west side, I think he would be happy to do business at a fair price. I think he prefers selling to buying.

What kind of fees? I'm interested in buying and selling. More buying though. If he is cheaper than localbitcoins I would like to do business if you trust him.

Quote: ZenKinG

Attention. It's once again time to load up on bitcoin. Thank me again later.

You forgot to tell your people to sell.

Bitcoin has served it's purpose.
Enjoy Americoin, Chinacoin, Eurocoin, and Russiacoin. Soon all nations will have a government backed cryptocurrency. Say adios to paper money and ola to no more privacy. Governments will be able to trace exactly how much was spent by who and what they bought. The experiment was a success and all the droned out investors are getting crushed.

BTC 2700 looking more and more possible.

Quote: MaxPen

You forgot to tell your people to sell.

BC under $6000, uh oh.

$17 Billion Deleted From Cryptocurrency Market in 24 Hours