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 Post subject: Bitcoin
PostPosted: Wed Aug 30, 2017 7:41 am 
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1 BTC = 1,300.40 pineapples
1 ETH = 109.36 pineapples
GBTC = 237.99 pineapples, nice pop yesterday...up 19 pineapples. Shoots, up 19 pineapples this morning!











*Maui Gold pineapples = $3.50












**KIQ = 0.15 pineapples

couch:










**Beat ya to the punchski qlickers :twisted:


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 Post subject: Re: Bitcoin
PostPosted: Wed Aug 30, 2017 2:58 pm 
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bitcoin is a very strange currency, thinly traded, that is useful for fraud, Magic The Gathering (a card game), and other sorts of fraud.


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 Post subject: Re: Bitcoin
PostPosted: Wed Aug 30, 2017 3:23 pm 
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I fly internationally for free every day!

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 Post subject: Re: Bitcoin
PostPosted: Wed Aug 30, 2017 3:52 pm 
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adamlaneus wrote:
bitcoin is a very strange currency, thinly traded, that is useful for fraud, Magic The Gathering (a card game), and other sorts of fraud.

I still don't understand bitcoins. They sound like a made up imaginary currency that will disappear when someone hacks into the computers that generate and value them.


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 Post subject: Re: Bitcoin
PostPosted: Wed Aug 30, 2017 5:55 pm 
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Smoe old dude's fried ball sundae~4-Ever!
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If I weren't so determined to remain OUT of IRS filing status, I would have taken a bite out of bitcoin.
A liddle bite to be sure, but I will forego profits of any size to not have to ever file another tax return.

Call me stupid, but it's SUCH a relief to say "fuddernutter YOU" to tax day and even the constant harangues by Turbotax.

Old, happy, satisfied with present status and cheering you on if you can build more and more and more.


More power to ya.
Me, I jist ride my bike, drink beer, an buy weird coins ta stare at. :D

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 Post subject: Re: Bitcoin
PostPosted: Wed Aug 30, 2017 6:15 pm 
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The value of a bitcoin is entirely demand driven.
You can lose all of your bitcoins if you have a computer crash where you data disappears. If you do not have that file, you do not have bitcoins.
Pretty much driven by drug dealing.
There have been hacks, vulnerabilities found and fixed. It is possible for an innocent party to lose bitcoins when this happens.

Imagine doing forex trading with the most unstable country in the world. That's the world of bitcoin investing.

I would never touch it myself.


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 Post subject: Re: Bitcoin
PostPosted: Wed Aug 30, 2017 7:27 pm 
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The anti penis.


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 Post subject: Re: Bitcoin
PostPosted: Thu Aug 31, 2017 4:13 am 
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adamlaneus wrote:
The value of a bitcoin is entirely demand driven.
You can lose all of your bitcoins if you have a computer crash where you data disappears. If you do not have that file, you do not have bitcoins.
Pretty much driven by drug dealing.
There have been hacks, vulnerabilities found and fixed. It is possible for an innocent party to lose bitcoins when this happens.

Imagine doing forex trading with the most unstable country in the world. That's the world of bitcoin investing.

I would never touch it myself.


Demand driven, yeah, only 21 million bitcoins can be 'mined', then no more(?), whereas as ethereum will be mined when needed. Smoe in the know like ethereum better because of this flexibility and think the market cap will surpass bitcoin in the near future. Banks and other industries are already seeing the advantages of ethereum over bitcoin and are building their own blockchains which I find ironic since bitcoin et.al. was designed to bypass third parties...banks, credit cards, paypal, Western Union, gov's, etc.

My opinion is that bitcoin is in its third phase. First phase came in the 90's with the idea of creating a crypto currency. I think it faded because the net and computer requirements and security where not there yet. Its second phase came after the 2008 financial crisis when people where looking for alternatives to store wealth. Most of the hacking and crime regarding bitcoin that we've heard of comes from third party interaction or attempts to 'broker' the crypto currency. Most famously was Mt. Goz(sp?) which was a Wall Street type brokerage house that ran a bad business and theft of 78 thousand (million?) bitcoins coins. There were others too, smoe went to jail regarding the enabling of drug deals on the dark web. More people have gone to federal prison over this than over the 2008 banking crisis. Sad, really.

The third phase is now a couple of years old imo, the regulatory phase. When gov't gets this involved it's scared because the more one investigates how bitcoin (and all the cryptocurrencies) works, the more one can see Big Brother's concern and to get out in front of it. Most recently is the possibility of having to declare 10,000 dollars in bitcoin when one comes into the US. At today's value that's only 2+ bitcoins.

The recent rise from $1500 to $4500 since June comes from Japan, China, and South Korea buying due to the fear of 'fire and fury'. These countries have been early adopters of bitcoin. I see most of the bitcoin signs at currency exchanges in these countries...for a few years now.

Today there was an article that bitcoin is the new gold (for millennials). Millennials feel comfortable not having cash and doing everything digital. In China it's the norm. They have an 'ecosystem' called WeChat where they do everything from Facebook-like, Amazon-like stuff, buying tickets, gaming, etc... Since FB, YT, Amazon, etc. are not allowed in China, WeChat is THE go-to-for-everything app. The company that owns WeChat is Tencent (TCEHY). Its market cap will surpass Apple within a few years and be the largest market cap stock in the world. I'm not sure if WeChat accepts bitcoin yet..I need to look into that more...

The current phase is a clean up phase as well. The concept itself is a free-market-libertarian's wet dream, easy adam. It's the third party entities that have tarnished the 'coin'. I see more security as a necessity before more people jump onboard. When the next financial crisis hits though I think bitcoin and all of its cousins will boom as people run to park their cash and savings into these cryptocurrencies. There's already evidence of people cashing out of gold and going into bitcoin. Is it smart? I'm old school and think if it's not tangible it's not worth holding but I also know that our gov't is intimating a cashless society someday and some derivative of bitcoin will exist. Unfortunately, it'll be a highly regulated digicurrency which will be 180 degrees from bitcoin's initial intent...seemless transactions of monies between two (or more) parties without third party skimming fees with full privacy.

Just my two bits...



-There's a thread over at CU on bitcoin that got me interested. It's over three years old. I bought smoe. I only put in money that if I lost it all I would not lose any sleep.


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 Post subject: Re: Bitcoin
PostPosted: Thu Aug 31, 2017 7:49 am 
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You show me an American with bitcoin and a free nomad in the desert looking to be paid for a meal of camel lung with pineapple and I'll show you a beheading. :lol:

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 Post subject: Re: Bitcoin
PostPosted: Thu Aug 31, 2017 2:22 pm 
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markqlicker wrote:
I fly internationally for free every day!


*well earned


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 Post subject: Re: Bitcoin
PostPosted: Fri Sep 01, 2017 1:35 pm 
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Speaking of air pockets...smoe guy called Andrew Left dumps on GBTC on CNBC and is replayed every hour...the trust goes from 1000 to 750, lol. It's a NAV trust and is only supposed to be valued at 1/10 bitcoin, e.g. $480, so it was at 2X. Plus, there may be pressure of an bitcoin ETF, if so than GBTC will crash and peoples will get into the ETF. Enjoy the ride, stay thirsty. :D


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 Post subject: Re: Bitcoin
PostPosted: Sat Sep 02, 2017 5:26 am 
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Ass-fudernuttering okoles! Just for elmos and giggles I tried to buy a bitcoin outright. I tried on three separate exchanges. No joy. Apparently, living in Hawaii one cannot buy bitcoin. One site referenced in their 'terms' section that due to previous events buying bitcoin in Hawaii is not available. I've never heard such a thing.


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 Post subject: Re: Bitcoin
PostPosted: Wed Sep 13, 2017 12:32 am 
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Jamie Dimon takes a stab at bitcoin. It's what one would expect from a banker.

https://www.cnbc.com/2017/09/12/jpmorga ... arter.html

Smoe funny quotes:

"I'm not saying 'go short bitcoin and sell $100,000 of bitcoin before it goes down," he said. "This is not advice of what to do. My daughter bought bitcoin, it went up and now she thinks she's a genius."

"It's worse than tulip bulbs. It won't end well. Someone is going to get killed," Dimon said at a banking industry conference organized by Barclays. "Currencies have legal support. It will blow up."

Dimon also said he'd "fire in a second" any JPMorgan trader who was trading bitcoin, noting two reasons: "It's against our rules and they are stupid."


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 Post subject: Re: Bitcoin
PostPosted: Wed Sep 13, 2017 8:24 am 
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i'd pass on investing in Bitcoin just too many risks for my taste

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 Post subject: Re: Bitcoin
PostPosted: Thu Sep 14, 2017 10:39 pm 
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today china shuts down one of three bitcoin exchanges in their country. this is well over half of the market for bitcoin. the bitcoin folks don't think so, but i do not trust their word for it at all.

so far this week, bitcoin has declined about 35%.

tomorrow, china regulators meet with the other two bitcoin exchanges.


so. do you feel confident enough to buy this dip?

remember that nothing is backing up this currency other than currency trading.
there are very few products priced exclusively in bitcoin. a great deal of those products that are solely priced in bitcoin are illegal.


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 Post subject: Re: Bitcoin
PostPosted: Thu Sep 14, 2017 11:31 pm 
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How many bitcoins for that husk of your soul?


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 Post subject: Re: Bitcoin
PostPosted: Thu Sep 14, 2017 11:39 pm 
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bitecoin


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 Post subject: Re: Bitcoin
PostPosted: Fri Sep 15, 2017 12:33 am 
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BigMark wrote:
How many bitcoins for that husk of your soul?


i'm figuring it would take an after tax amount of approximately $278 million in todays US dollars. no other currencies accepted.


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 Post subject: Re: Bitcoin
PostPosted: Sat Sep 16, 2017 10:11 am 
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...to a million. hmm:

http://www.marketwatch.com/story/bitcoi ... yptr=yahoo


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