Bitcoins... WOW

There is so much unrest in Europe right now it is forcing the price way up really quickly. Take political events in Cypress where people do not have access to the funds in their banks...where do they turn? Bitcoins are a great way for people to channel money out of these economically unstable countries and its increasing demand for agnostic currencies like bitcoins.

Your lucky if you have a bunch of them stashed away somewhere...or the ASIC's which are used to mine them. The power/cash ratio just increased significantly and the mining community is going crazy right now.

Thanks
1 reply

Signature

~

{{ DiscussionBoard.errors[7931214].message }}

GodMode52

12 years ago

Originally Posted by panic

There is so much unrest in Europe right now it is forcing the price way up really quickly. Take political events in Cypress where people do not have access to the funds in their banks...where do they turn? Bitcoins are a great way for people to channel money out of these economically unstable countries and its increasing demand for agnostic currencies like bitcoins.

Your lucky if you have a bunch of them stashed away somewhere...or the ASIC's which are used to mine them. The power/cash ratio just increased significantly and the mining community is going crazy right now.

Personally I think that this super bubble will explode very very soon. New super performing hardware for mining will come out very soon too.

Thanks

Signature

Want Google Page ONE Rankings? [YES] [NO]

{{ DiscussionBoard.errors[7931352].message }}

flipfire

12 years ago

Hasn't places such as namecheap and other big organizations started accepting them as payment?

Thanks
1 reply

{{ DiscussionBoard.errors[7931227].message }}

Gonzosan 12 years ago

I looked into Bitcoins a while back but didn't decide to get into them because I heard the cost of "mining" them didn't offset their actual value. Seems like a great idea but they have a cap on how many bitcoins that can be "mined" and I don't even think it was in the billions.

For those who don't know what bitcoin is http://bitcoin.org/en/how-it-works If I remember correctly it's a digital currency that's enforced by encryption. You "mine" them by helping to encrypt them through your computer. A wide network of computers are required to keep them constantly encrypted hence it's security and popularity since it is not regulated by any banks. I remember reading about it about a few years ago but someone mentioned that you needed a pretty decent computer setup that was constantly running in order to make it worth while. It takes up plenty of processing power to decrypt and encrypt these things which means you'll see your electric bill go up and why it may not be worth while. That's just from what I remember and I may be completely wrong as this was what I got a few years ago.
- Thanks
{{ DiscussionBoard.errors[7931339].message }}

PerformanceMan

12 years ago

What goes up...

[ 1 ] Thanks

Signature

Free Special Report on Mindset - Level Up with Positive Thinking

{{ DiscussionBoard.errors[7931430].message }}

onegoodman

12 years ago

I would suggest to sell them as long as you can.

For me, I can't think of this company as anything but a scam. No Regulation, and prices jump up over night, ... welll soon, it will jump down hard taking down thousand of people if not millions of people. It is a shame that because some companies like namecheap start accepting them, people start believing that bitcoin is the next big thing.

Anybody who knows how paper money started and the problem associated with them, can see how this bubble about to explode in people faces.

Thanks
1 reply

Signature

5 figure passive income

Hire Quality Virtual Assistants at affordable rate

{{ DiscussionBoard.errors[7931599].message }}

JSProjects

12 years ago

Originally Posted by onegoodman

I would suggest to sell them as long as you can.

For me, I can't think of this company as anything but a scam. No Regulation, and prices jump up over night, ... welll soon, it will jump down hard taking down thousand of people if not millions of people. It is a shame that because some companies like namecheap start accepting them, people start believing that bitcoin is the next big thing.

Anybody who knows how paper money started and the problem associated with them, can see how this bubble about to explode in people faces.

Bitcoins are far from a scam. As with any currency, there will be fluctuations. Now is a great time to sell if you can though.

And "no regulation" is basically the point. An anonymous currency not controlled by the banks.

Thanks

{{ DiscussionBoard.errors[7939733].message }}

Bonita T Josephson

12 years ago

I have always felt insecure about Bitcoins. Though some of my friends told me to buy some of them on the earlier days of Bitcoins. Looks like I have missed a lot of money

.

Thanks

{{ DiscussionBoard.errors[7931601].message }}

drbrucehoag

12 years ago

I saw an article about this, too.

One of two things will happen. Either it will be a bubble that bursts, or it will become so successful that the people the own it will sell it to a bank.

And then where will we be?

Thanks

Signature

Cheers, Bruce

Hire a Published Author With PhD to Write Your Articles >> Click Here

Bruce Hoag, PhD

{{ DiscussionBoard.errors[7933486].message }}

sbucciarel

Banned 12 years ago

Bitcoin wallet service Instawallet hacked, shuts down ‘indefinitely’ | VentureBeat

Bitcoin currency value reaches record high of $147 before plunging down | Technology | guardian.co.uk

Thanks
1 reply

{{ DiscussionBoard.errors[7933607].message }}

e4job 12 years ago

the last time we looked into BitCoins, the lowst possible conversion rate was 4.5% to convert to more usable cash, which nullified any perceived advantage
- Thanks
Signature
Web Design and Hosting
{{ DiscussionBoard.errors[7933629].message }}

Scoop

12 years ago

Yep, a classic bubble. I'll pass on this one.

Thanks

{{ DiscussionBoard.errors[7939232].message }}

Cobb

12 years ago

Just cashed out most of my bitcoins, bought them for $21 sold for $139, pretty pleased with that. Should pay for a nice holiday somewhere exotic

Thanks

{{ DiscussionBoard.errors[7939558].message }}

Bitcoins... WOW

Trending Topics

Your Best & Worst Christmas Gift?

Ebook Promotion Sites? Kindle?

What Are Your Predictions For 2025?

What are the DRONES DOING over NJ??

Need Digital Marketing Tips for Promoting Bathroom Remodeling Services