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AxelWolf
AxelWolf
Joined: Oct 10, 2012
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April 26th, 2017 at 7:33:58 PM permalink
Quote: Wizard

I've probably said this before, but I think the market is looking for something like Bitcoin. But not Bitcoin exactly. Something with a name behind it.

I still say Bitcoin is a fad. I remember a book in the 1990's predicting the future value of any given Beanie Baby given the rate of growth at the time of publishing. I have a copy somewhere. It would make you laugh to compare the predicted values to the actual ones. It is just a matter of time before the bubble pops in the same way it did for Beanie Babies.

I can't believe you are comparing beanie babies with BC. I Don't know what the future of BC is. I keep saying to myself, that's too high don't buy, as I watch it go higher and higher.

I stopped at a gas station this evening on charleston and Decatur where they have a BC ATM There were 3 people waiting to use it.

I asked one if they knew the transaction fees but they had no clue.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
MaxPen
MaxPen
Joined: Feb 4, 2015
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April 26th, 2017 at 9:29:10 PM permalink
When I first discovered Bitcoin it was under a buck. I am still kicking myself.
Wizard
Administrator
Wizard
Joined: Oct 14, 2009
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April 26th, 2017 at 9:39:15 PM permalink
Quote: AxelWolf

I can't believe you are comparing beanie babies with BC. I Don't know what the future of BC is. I keep saying to myself, that's too high don't buy, as I watch it go higher and higher.



I think the growth in both is fueled by greed. Every bubble is. However, I've been saying that since Bitcoin was around $250, not too long ago. Wish I had bought back then.

Quote:

I stopped at a gas station this evening on charleston and Decatur where they have a BC ATM There were 3 people waiting to use it.

I asked one if they knew the transaction fees but they had no clue.



I once went to the Bitcoin ATM in a soda pop store on Sahara and Fort Apache. The mark-up was huge. I just wanted to say I was in the game, and still want to say that, but don't have any convenient way to buy Bitcoin. I have a friend who offered to sell me some but he insisted on using his Bitcoin wallet. I thought the beauty of Bitcoin was that different wallets could communicate.
It's not whether you win or lose; it's whether or not you had a good bet.
AxelWolf
AxelWolf
Joined: Oct 10, 2012
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May 8th, 2017 at 2:24:35 PM permalink
1679.00 US Dollar
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
RS
RS
Joined: Feb 11, 2014
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May 8th, 2017 at 2:42:23 PM permalink
So I don't really know how bitcoin works (well, I have an idea).....but with the increase in technology and computing power/speed over time, what's this mean for bitcoin?

Let's say 10 years from now BC is absolutely booming and it's everywhere and the main currency and used more often than cash or credit/debit cards. I assume BC could get hacked with improvements in technology. Maybe today it's one of those things where a computer would need 1000 years to hack it....what about 10 years from now?

If so, can BC easily and fluidly be updated, so that there isn't mass chaos if/when it does get hacked?
"should of played 'Go Fish' today ya peasant" -typoontrav
gamerfreak
gamerfreak
Joined: Dec 28, 2014
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May 8th, 2017 at 6:01:18 PM permalink
Quote: RS

So I don't really know how bitcoin works (well, I have an idea).....but with the increase in technology and computing power/speed over time, what's this mean for bitcoin?

Let's say 10 years from now BC is absolutely booming and it's everywhere and the main currency and used more often than cash or credit/debit cards. I assume BC could get hacked with improvements in technology. Maybe today it's one of those things where a computer would need 1000 years to hack it....what about 10 years from now?

If so, can BC easily and fluidly be updated, so that there isn't mass chaos if/when it does get hacked?


Speaking about cryptography in general, it would take an increase in processessing technology so far above and beyond what we have, we're talking aliens dropping some tech, or opening some sort of black hole type level sci-fi advancements.

Cryptography is a big interest of mine, so I'll write more about Bitcoin and encryption in general when I have time. But a quick google search turned up this calculation:

Assume we have a supercomputer that links 1 billion modern day processors.

The universe itself only existed for 14 billion (1.4e10) years. It would take ~6.7e40 times longer than the age of the universe to exhaust half of the keyspace of a AES-256 key with this supercomputer.
billryan
billryan
Joined: Nov 2, 2009
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May 8th, 2017 at 6:59:04 PM permalink
Quote: Skeptic

No offense intended but purchasing a wildly volatile "investment" instrument with borrowed money at 20% interest is an incredibly foolish thing to do. Whoever stopped allowing that is doing you a huge favor.




I buy lots of things on my credit card and pay them off fully each month. Using a CC to purchase anything on eBay gives you an added layer of protection, as well as letting you garner airline miles. Even if I have cash in pocket, using a CC is much safer and smarter. I make about three roundtrips to NY a year, all free from ebay and paypal purchases.
Your nickname is accurate.
It's what you do and not what you say If you're not part of the future then get out of the way
billryan
billryan
Joined: Nov 2, 2009
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Thanks for this post from:
Zuga
May 8th, 2017 at 7:00:48 PM permalink
Quote: AxelWolf

I can't believe you are comparing beanie babies with BC. I Don't know what the future of BC is. I keep saying to myself, that's too high don't buy, as I watch it go higher and higher.

I stopped at a gas station this evening on charleston and Decatur where they have a BC ATM There were 3 people waiting to use it.

I asked one if they knew the transaction fees but they had no clue.



Informed investors at their best.
It's what you do and not what you say If you're not part of the future then get out of the way
onenickelmiracle
onenickelmiracle
Joined: Jan 26, 2012
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May 8th, 2017 at 7:51:50 PM permalink
They say illegal drug sales prop bitcoin, but it could very well be legal sales. I've heard of how they used collectible bongs to move their money buying and selling them, inflating the values. Maybe if you thought Trump really would(not just hot air) let marijuana dealers use banks, you would be worried about a crash.
Looks like sh!t just got imaginary!
Boz
Boz
Joined: Sep 22, 2011
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Thanks for this post from:
Zuga
May 8th, 2017 at 7:56:31 PM permalink
Quote: billryan

Informed investors at their best.



Or just the typical Vegas 6/5 BJ players.

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