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Bitcoin Passes $7100
Coin Marketcap ^ | 11/02/17

Posted on 11/02/2017 4:02:38 PM PDT by Enlightened1

It's ridding high and worth more than gold.

https://coinmarketcap.com/

(Excerpt) Read more at coinmarketcap.com ...


TOPICS: Business/Economy; Constitution/Conservatism; Culture/Society; Miscellaneous
KEYWORDS: bitcoin; gold; high; silver
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To: Professional
Yes, I get that, my “You” wasn’t aimed at ...you.

I'm getting the impression that you have quite a lot of knowledge regarding finances and investments. Well it's good to know that you see this thing in the same light that I see it.

41 posted on 11/02/2017 5:20:34 PM PDT by DiogenesLamp ("of parents owing allegiance to no other sovereignty.")
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To: DiogenesLamp

25 yrs, over half my life.


42 posted on 11/02/2017 5:21:00 PM PDT by Professional
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To: samtheman

Well I bought 4 bitcoin at 250 dollars each to use while overseas for ordering things online. Never used them.

I just sold one for 4500 dollars. Still have 3 . So no matter what happens I turned a 3000 profit on a 1000 investment. Nice rulips there...


43 posted on 11/02/2017 5:22:11 PM PDT by Kozak (DIVERSITY+PROXIMITY=CONFLICT)
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To: Catphish

Oh, ok....so you’re saying that supply and demand of bitcoin isn’t driving the price wildly higher or lower. Ok... gee, must be the backing of the bitcoin being determined to be of such value that compared to other global currency that the value of the currency should have nearly meteoric rise in comparison.

Next moron please...


44 posted on 11/02/2017 5:22:36 PM PDT by Professional
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To: Professional
25 yrs, over half my life.

So what do you see in our economic future? Is the Stock Market overinflated? I think it's over inflated. I think most of the gains under Obama were just computers trading back and forth.

I think computer trading has done to the Stock Market what computer models of Global Warming have done for the "science" of global warning.

45 posted on 11/02/2017 5:24:31 PM PDT by DiogenesLamp ("of parents owing allegiance to no other sovereignty.")
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To: DiogenesLamp

I can’t see the future, nobody can. You can only PLAN for the future.

Plan...


46 posted on 11/02/2017 5:25:47 PM PDT by Professional
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To: Kozak
I just sold one for 4500 dollars. Still have 3 . So no matter what happens I turned a 3000 profit on a 1000 investment. Nice rulips there...

A lot of people made large profits on the Tulip bubble too. Isaac Newton lost his shirt.

47 posted on 11/02/2017 5:27:04 PM PDT by DiogenesLamp ("of parents owing allegiance to no other sovereignty.")
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To: Kozak

Good on you. What you have in hand, is paper profits.

I know a very close friend that won a mega million lottery. I have many former colleagues that EACH know a mega million lottery. That said, I don’t advise in an investment strategy that includes investing in the lottery.

Sometimes, you just get lucky.


48 posted on 11/02/2017 5:27:35 PM PDT by Professional
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To: Professional

It wasnt done as an investment. It was done as an alternative purchasing method. It just turned out to be acgood buy.


49 posted on 11/02/2017 5:33:44 PM PDT by Kozak (DIVERSITY+PROXIMITY=CONFLICT)
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To: Kozak

Sometimes things just work out! Just like sometimes....they don’t. Funny though, how more often than not, they Don’t work out. Again, good on you.


50 posted on 11/02/2017 5:34:50 PM PDT by Professional
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To: Professional

“must be the backing of the bitcoin being determined to be of such value that compared to other global currency”

You clearly don’t understanding Bitcoin or the rules of grammar. Except for the gratuitous insult I can barely make sense of what you wrote.


51 posted on 11/02/2017 5:36:08 PM PDT by Catphish
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To: Chgogal

I am sorry. I misread CBOE for CME. The CME is going to start futures contracts on bitcoins in Q4. Derivatives on an invisible “asset.”

I understand the difference between the two.


52 posted on 11/02/2017 5:41:10 PM PDT by Vermont Lt (Burn. It. Down.)
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To: Catphish

Every time I see an idiot post about Bitcoin here at FR I feel a duty to pound on what are likely part of a dealer network that operate on the internet to promote this crap.

Get back Satan...

Ok, enough of me on this thread. My work is done.


53 posted on 11/02/2017 5:44:51 PM PDT by Professional
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To: Professional

“Oh good grief.... really? You think businesses and people will start issuing their own currency huh?”

No doubt in my mind.

Back in 1995 I did some work for a man who owned a computer business specializing in Novell networks. I told him he needed a website.

He responded that he thought that the Internet was just a fad.

Perhaps instead of mocking you should keep an open mind. Maybe you don’t understand what you are mocking.

Cryptocurrencies are just getting started. They will be difficult for the government to regulate, however, that is what will probably drive consolidation.

You’ll probably change your mind within the next year or so. The guy I did computer work for came back to me and admitted I was right when Novell told him they were moving all of their order taking online.

By the way, what gives any currency a value is the willingness of someone to accept that currency as payment for goods or services.

The reason “government-backed” currency is popular is because government MUST be paid. Remember the two certainties in life: death and taxes?

Right now, cryptocurrency values are driven primarily by speculation, but that’s not really much different than many investments. And cryptocurrencies are safer and more secure than many other investments.

As more people and entities become willing to accept payment via cryptocurrency, the security of ownership improves, and the ease of converting between cryptocurrencies and traditional currencies grows, the popularity of cryptocurrencies will increase.


54 posted on 11/02/2017 5:47:25 PM PDT by unlearner (You will never come to know that which you do not know until you first know that you do not know it.)
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To: Professional

“Oh good grief.... really? You think businesses and people will start issuing their own currency huh?”

No doubt in my mind.

Back in 1995 I did some work for a man who owned a computer business specializing in Novell networks. I told him he needed a website.

He responded that he thought that the Internet was just a fad.

Perhaps instead of mocking you should keep an open mind. Maybe you don’t understand what you are mocking.

Cryptocurrencies are just getting started. They will be difficult for the government to regulate, however, that is what will probably drive consolidation.

You’ll probably change your mind within the next year or so. The guy I did computer work for came back to me and admitted I was right when Novell told him they were moving all of their order taking online.

By the way, what gives any currency a value is the willingness of someone to accept that currency as payment for goods or services.

The reason “government-backed” currency is popular is because government MUST be paid. Remember the two certainties in life: death and taxes?

Right now, cryptocurrency values are driven primarily by speculation, but that’s not really much different than many investments. And cryptocurrencies are safer and more secure than many other investments.

As more people and entities become willing to accept payment via cryptocurrency, the security of ownership improves, and the ease of converting between cryptocurrencies and traditional currencies grows, the popularity of cryptocurrencies will increase.


55 posted on 11/02/2017 5:47:25 PM PDT by unlearner (You will never come to know that which you do not know until you first know that you do not know it.)
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To: Professional
Stupid. And anyone posting that crap here at FR should get the boot ASAP.

OK, and what else should we censor here so no reads it?

56 posted on 11/02/2017 6:25:32 PM PDT by TangoLimaSierra (It's gonna be bloody.)
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To: TangoLimaSierra

I’m an investment advisor. I’m not allowed to come here and peddle stocks, funds, trade ideas. It’s illegal.

Additionally, FR wasn’t created to be a business platform for gold bugs and bitcoin peddlers. Be gone with all ye...


57 posted on 11/02/2017 6:34:17 PM PDT by Professional
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To: Professional
I’m an investment advisor. I’m not allowed to come here and peddle stocks, funds, trade ideas. It’s illegal.

I don't see anyone on here peddling anything. Just passing on info. Allow us to make up our own minds.

58 posted on 11/02/2017 6:40:40 PM PDT by TangoLimaSierra (It's gonna be bloody.)
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To: 1_Inch_Group
A currency's only purpose (and value) is as a stable means of exchange. When the currency is rapidly losing value (which is what happens in hyperinflation) you can't spend it fast enough because today's dollar is worth more than tomorrow's dollar. For a rapidly increasing asset (which is what you have with Bitcoin now), you'd be a fool to spend it since it will be worth so much more in the near future. Who wants to pay $30 for a cup of coffee?

That means at this point Bitcoin's only "value" is as a speculative instrument. Its volatility makes it effectively useless as a medium of exchange because it has no stable price structure. It's the "greater fool" theory writ large and it cannot end well. The announcement that CBOE is going to start trading bitcoin futures is only going to pour gasoline on the fire.

59 posted on 11/02/2017 6:43:05 PM PDT by AustinBill (consequence is what makes our choices real)
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To: Vermont Lt

Than you should buy gold or silver.


60 posted on 11/02/2017 7:09:01 PM PDT by Jim from C-Town (The government is rarely benevolent, often malevolent and never benign!)
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