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Bitcoin has gone beyond the absurdity of the 17th-century tulip bulb mania: Dennis Gartman
CNBC ^ | December 7, 2017 | Michelle Fox

Posted on 12/12/2017 7:49:30 AM PST by C19fan

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To: E. Pluribus Unum

Wouldn’t be very difficult to setup if there was demand for it. Companies that accept bitcoin immediately convert to USD. Regardless, currencies don’t fluctuate 30% in price nearly daily. The single biggest definition of a currency is a stable store of value.


61 posted on 12/12/2017 9:49:56 AM PST by rb22982
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To: GreenHornet

I highly recommend googling it. In essence at the 35,000 foot level it is a very, VERY secure, simply by the nature of how it works, way to verify and track transactions.


62 posted on 12/12/2017 9:55:20 AM PST by robroys woman (So you're not confused, I'm male.)
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To: GreenHornet

The blockchain is a distributed ledger.

Imagine the old days when the accountant had a leather bound ledger where they kept the balances of every transaction for the company.

The distributed ledger is a database of ALL transactions in the bitcoin univerise. The entries are public. They include a transaction address, a sender address, and a receiver address.

Mining is the process where blocks of recorded transactions are verified against the “ledger” to insure that both parties are legit and than they have the “inventory” to make the transaction valid. These miners are rewarded for their efforts through fees and additional mined bitcoins.

Everything is open. If you know your address, you can pull all of your transactions. This whole stuff about “anonymity” is just not true.

If this helps, let me know. If you want something clarified, I will do what I can.


63 posted on 12/12/2017 9:58:46 AM PST by Vermont Lt (Burn. It. Down.)
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To: fwdude

Taxes are taxes. Trying to avoid them will result in a bad time for you.

I doubt there is going to be much “localbitcoin” action when we are talking $10k.

My initial, long term holdings started at about $3,400. I could not cash out today without a parade of tax accountants coming through my life. It is in the deep six figure range. What a problem to have.

For the time being, bookkeeping is horrific unless you buy and hold. Then its an easy capital gain calculation.


64 posted on 12/12/2017 10:01:05 AM PST by Vermont Lt (Burn. It. Down.)
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To: eyeamok

“The Users will soon see when they get their TAX bill from uncle sugar.”

Based on what? You don’t get a tax bill for money in your bank account. And by the way... it seems like you know very little about the technology of bitcoin. Tell us all about these “clearing houses”.

Fascinated.


65 posted on 12/12/2017 10:14:15 AM PST by DesertRhino (Dog is man's best friend, and moslems hate dogs. Add that up. ... we.)
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To: E. Pluribus Unum

Is there some diabolical connection between Blocking Chain Migration and Block Chaining? I think only one is good for our Economy.


66 posted on 12/12/2017 10:18:59 AM PST by TNoldman (AN AMERICAN FOR A MUSLIM/BHO FREE AMERICA. (Owner of Stars and Bars Flags))
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To: C19fan

How do you cash one in?


67 posted on 12/12/2017 10:27:37 AM PST by raybbr (That progressive bumper sticker on your car might just as well say, "Yes, I'm THAT stupid!")
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To: Ruy Dias de Bivar

15 to 20 bucks at Walmart...bought some recently....not 50 dollars....but I think you make a valid point!


68 posted on 12/12/2017 10:37:00 AM PST by mdmathis6 (Men and Devils can't out-"alinsksy" God! He knows where "all the bodies are buried!")
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To: rb22982
It's only been around a few years.

The underlying technology of blockchain currencies is where the real revolution is. It would allow completely transparent government accounting, auditable by anyone, for instance.

Can you imagine the revolution in government if we could track every single penny they spent?

Which is exactly why it will never happen.

69 posted on 12/12/2017 10:42:21 AM PST by E. Pluribus Unum (<img src="http://i.imgur.com/WukZwJP.gif" width=800>)
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To: C19fan

In order to buy Bitcoin these days you actually have to come up with $19,000 in physical cash? I don’t know much about it.
Doesnt that defeat the purpose?.


70 posted on 12/12/2017 10:51:10 AM PST by lucky american (Progressives are attac Iking our rights and y'all will sit there and take it.)
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To: C19fan

I recall when silver hit $50.00+ per oz.

I was trading commodities at the time and watched a guy loose a house in a split second...


71 posted on 12/12/2017 11:34:14 AM PST by BBB333 (The Power Of Trump Compels You!)
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To: Vermont Lt

Thank you! I appreciate the explanation.


72 posted on 12/12/2017 1:09:43 PM PST by GreenHornet
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To: C19fan

Litecoin is up over 300% in the past two weeks.

I am doing OK.


73 posted on 12/12/2017 1:36:32 PM PST by packrat35 (Pelosi is only on loan to the world from Satan. Hopefully he will soon want his baby killer back)
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To: lucky american

You can buy as little as you want. My daughter gave me $100 in July 2016. It was worth $4,100 last time I looked.

I see folks buying $10/20 at a pop.

If you aren’t trading it, it adds up pretty quickly.


74 posted on 12/12/2017 3:24:01 PM PST by Vermont Lt (Burn. It. Down.)
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To: BBB333

Bitcoin has crashed multiple times. It has come back stronger.

Sure...one time it will “really” crash, I guess.


75 posted on 12/12/2017 3:25:38 PM PST by Vermont Lt (Burn. It. Down.)
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To: C19fan

Bitcoin is like NFL Fantasy Football. You can say you won the Super Bowl if it’s in a computer somewhere saying that you won the Super Bowl.

Try getting the Lombardi Trophy in your home onto your Awards shelf sometime. Well, I guess if you have an image of the Lombardi Trophy on your computer, and it says you won it, then you did.

Bitcoin and its copycats will, IMHO only, be one of the most laughed-at bubbles in history when this is viewed years from now. It’s fake, it’s a mirage, and only the ones who are lucky enough to escape before the Bitcoin/Blockchain explosion will make any real hard cash money.

The rest of the “investors” will toss their virtual worthless bitcoins into the virtual toilet in their computer. And that will be REAL MONEY lost, not virtual money gained.


76 posted on 12/12/2017 3:57:46 PM PST by Husker8877
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To: JohnyBoy

>Beware some web sites use your browser to mine Bitcoins ,even when you close the browser . It’s the only way to make money with Bitcoins , LOL

Fake news.

It happened in the gaming community sometime back: https://www.theregister.co.uk/2013/11/20/esea_gaming_bitcoin_fine/


77 posted on 12/12/2017 4:21:51 PM PST by Mrite
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To: Mrite

Well, apparently I’m fake news!

I hadn’t heard this before. Intresting.


78 posted on 12/12/2017 4:24:19 PM PST by JohnyBoy (The GOP Senate is intentionally trying to lose the majority.)
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