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tommy
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The Bitcoin virtual currency lost half its value on Wednesday because of a panic sell-off.

Panic selling caused the value of the Bitcoin virtual currency to halve in less than six hours.

http://www.bbc.co.uk/news/technology-22105322
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

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Bob1Dog
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Bitcoins will go down because there is nothing of value in them. Even baseball cards, as bad as they were as "investments" have some material value. Bitcoins? Doomed. Nothing inherently valuable about them. Commodoties must have value to retain value. Speculation isn't value, it's mere gambling. You can do that in any casino in the world, probably with better odds in the long haul.
What if the Hokey Pokey really IS what it's all about? Smile

My neighbor rang my doorbell at 2:30 a.m. this morning, can you believe that, 2:30 a.m.!? Lucky for him I was still up playing my drums.
Woland
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Bitcoin is currency, and subject to the same problems any currency may have.
silvercup
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Quote:
On 2013-04-12 03:30, Bob1Dog wrote:
Bitcoins will go down because there is nothing of value in them. Even baseball cards, as bad as they were as "investments" have some material value. Bitcoins? Doomed. Nothing inherently valuable about them. Commodoties must have value to retain value. Speculation isn't value, it's mere gambling. You can do that in any casino in the world, probably with better odds in the long haul.


And the material value of a U.S. $20 is?
tommy
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You!
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
silvercup
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Quote:
On 2013-04-12 11:56, tommy wrote:
You!


:applause:
irossall
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A fool and his money are soon parted Smile .

I have some virtual property for sale Cheap. Send me a Postal Money Order for any amount you like and I will sell all my property to you. Send e-mail with purchase so I may get your property to you more quickly. Satisfaction Guarantee (mine, that is).

Value of $20.00 U.S.? I can get a pretty good meal for that.
Iven Smile
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Tom Jorgenson
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Quote:
On 2013-04-13 15:59, irossall wrote:
A fool and his money are soon parted Smile .

I have some virtual property for sale Cheap. Send me a Postal Money Order for any amount you like and I will sell all my property to you. Send e-mail with purchase so I may get your property to you more quickly. Satisfaction Guarantee (mine, that is).

Iven Smile


Only if it comes with a Quit-Claim deed!
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balducci
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Make America Great Again! - Trump in 2020 ... "We're a capitalistic society. I go into business, I don't make it, I go bankrupt. They're not going to bail me out. I've been on welfare and food stamps. Did anyone help me? No." - Craig T. Nelson, actor.
balducci
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On 2013-04-11 17:40, tommy wrote:

The Bitcoin virtual currency lost half its value on Wednesday because of a panic sell-off.

Panic selling caused the value of the Bitcoin virtual currency to halve in less than six hours.

http://www.bbc.co.uk/news/technology-22105322

"The high of $260 marked the end of a steep rise in value for Bitcoins, which were worth only $90 each two weeks ago. On Thursday, values recovered slightly to reach about $160 (£104)."

That was in April. And today?

One bitcoin = approximately $721.62.

Crypto-Currency Market Capitalizations

http://coinmarketcap.com/

Also see:

http://www.theatlantic.com/business/arch....../281625/

The price of a bitcoin has quadrupled in the last month.

Image
Make America Great Again! - Trump in 2020 ... "We're a capitalistic society. I go into business, I don't make it, I go bankrupt. They're not going to bail me out. I've been on welfare and food stamps. Did anyone help me? No." - Craig T. Nelson, actor.
NYCTwister
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This was inevitable. They never had value, just hype based on the common fear that all the worlds currencies will become worthless as politicians continue their stupidity. The only people who gained from this were the first to get involved as they got the lions share. The idea was to create a virtual gold standard by creating a finite amount of the coins.
If you need fear to enforce your beliefs, then your beliefs are worthless.
tommy
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China has gone big on them.
If there is a single truth about Magic, it is that nothing on earth so efficiently evades it.

Tommy
balducci
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Quote:
On 2013-11-21 18:59, balducci wrote:
Quote:
On 2013-04-11 17:40, tommy wrote:

The Bitcoin virtual currency lost half its value on Wednesday because of a panic sell-off.

Panic selling caused the value of the Bitcoin virtual currency to halve in less than six hours.

http://www.bbc.co.uk/news/technology-22105322

"The high of $260 marked the end of a steep rise in value for Bitcoins, which were worth only $90 each two weeks ago. On Thursday, values recovered slightly to reach about $160 (£104)."

That was in April. And today?

One bitcoin = approximately $721.62.

Crypto-Currency Market Capitalizations

http://coinmarketcap.com/

Also see:

http://www.theatlantic.com/business/arch....../281625/

The price of a bitcoin has quadrupled in the last month.

Today: 1 bitcoin = $910.49.

Incredible.
Make America Great Again! - Trump in 2020 ... "We're a capitalistic society. I go into business, I don't make it, I go bankrupt. They're not going to bail me out. I've been on welfare and food stamps. Did anyone help me? No." - Craig T. Nelson, actor.
balducci
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On 2013-11-21 20:27, NYCTwister wrote:
This was inevitable. They never had value, just hype based on the common fear that all the worlds currencies will become worthless as politicians continue their stupidity. The only people who gained from this were the first to get involved as they got the lions share.

Apparently not. Had you invested last week when I posted, you would have been up about 25% in a week.
Make America Great Again! - Trump in 2020 ... "We're a capitalistic society. I go into business, I don't make it, I go bankrupt. They're not going to bail me out. I've been on welfare and food stamps. Did anyone help me? No." - Craig T. Nelson, actor.
Bob1Dog
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Go for it! Remember the bubble? Smile
What if the Hokey Pokey really IS what it's all about? Smile

My neighbor rang my doorbell at 2:30 a.m. this morning, can you believe that, 2:30 a.m.!? Lucky for him I was still up playing my drums.
balducci
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Crypto-Currencies are too complicated for a simple soul such as I. They're still too cumbersome to purchase and own. IMO, of course.

My feeling is that their value will not collapse until AFTER investment funds become available to the public, through which the general public may invest in them. A number of such funds are forthcoming, but they are not here yet.
Make America Great Again! - Trump in 2020 ... "We're a capitalistic society. I go into business, I don't make it, I go bankrupt. They're not going to bail me out. I've been on welfare and food stamps. Did anyone help me? No." - Craig T. Nelson, actor.
balducci
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In 2009, man accidentally throws out hard drive containing 7,500 Bitcoins.

At today's price of 1 Bitcoin = $976.78, we're talking about a $7.3 million loss!

http://www.theguardian.com/technology/20......ill-site
Make America Great Again! - Trump in 2020 ... "We're a capitalistic society. I go into business, I don't make it, I go bankrupt. They're not going to bail me out. I've been on welfare and food stamps. Did anyone help me? No." - Craig T. Nelson, actor.
S2000magician
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Quote:
On 2013-04-13 16:50, Tom Jorgenson wrote:
Quote:
On 2013-04-13 15:59, irossall wrote:
A fool and his money are soon parted Smile .

I have some virtual property for sale Cheap. Send me a Postal Money Order for any amount you like and I will sell all my property to you. Send e-mail with purchase so I may get your property to you more quickly. Satisfaction Guarantee (mine, that is).

Iven Smile


Only if it comes with a Quit-Claim deed!

I trust that you want more than a quit claim deed; such a deed conveys whatever ownership the seller has, but doesn't gurantee (or even suggest) that the seller has any ownership.

What you want is a grant deed, which conveys total ownership (and, hence, warrants that the seller possesses total ownership and has the legal right to convey it).
mastermindreader
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All depends on which state he lives in. Most states use a warranty deed rather than a grant deed. A warranty deed, in addition to the provisions of a grant deed, also guarantees that the grantor will defend the title against any third-party claim.
seadog93
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I only just heard about bitcoin the other day.
I have no interest in investing, but it seems very interesting to me.
Joe Rogan recently did a podcast with a bitcoin guy. I've only listened to a bit of it, but so far it's fascinating stuff.

https://www.youtube.com/watch?v=1cexawnOlR8

(the podcast itself starts at about 10:45, and it's long so it's probably better to listen to it on a phone).
"Love is the magician who pulls man out of his own hat" - Ben Hecht

"Love says 'I am everything.' Wisdom says 'I am nothing'. Between the two, my life flows." -Nisargadatta Maharaj

Seadog=C-Dawg=C.ou.rtn.ey Kol.b
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