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Bitcoin Tops $1000
Zero Hedge ^
| 27 November, 2013
| Tyler Durden
Posted on 11/27/2013 7:06:16 AM PST by Errant
Well that escalated quickly. Having broken above $900 yesterday to new record highs (and a 100% gain in a week), the crypto currency is not looking back now. On what is higher than average volume this morning, Bitcoin just broke above the magic $1000 level for the first time (at $1025). Meanwhile, the BTC China "arb'd" rate is around $950 for those playing at home; and Litecoin has just topped $26 (from $4 a week ago!).
TOPICS:
KEYWORDS: bitcoin; btc; litecoin; ltc
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What's in your wallet?
1
posted on
11/27/2013 7:06:16 AM PST
by
Errant
To: Errant
2
posted on
11/27/2013 7:07:10 AM PST
by
Red Badger
(Proud member of the Zeta Omicron Tau Fraternity since 2004...................)
To: All
Bitcoin...
3
posted on
11/27/2013 7:08:55 AM PST
by
Errant
To: Errant
Thanks for the update, it’s fun to watch.
I read one analysis that said it’s got far better odds than a lottery ticket of making you wealthy.
4
posted on
11/27/2013 7:10:09 AM PST
by
nascarnation
(Wish everyone see a "Gay Kwanzaa")
To: Errant
5
posted on
11/27/2013 7:10:27 AM PST
by
bolobaby
To: Red Badger
Amazing how some thing that doesn’t exist can have
such value, tulips any one?
6
posted on
11/27/2013 7:11:01 AM PST
by
tet68
( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
To: tet68
What’s better than roses on your piano?...............
7
posted on
11/27/2013 7:13:21 AM PST
by
Red Badger
(Proud member of the Zeta Omicron Tau Fraternity since 2004...................)
To: tet68
Or federal reserve notes... both made out of thin air.
/johnny
To: tet68
It has far more intrinsic value than a dollar, because there are a limited number of them.
How many $ did uncle Ben print last month?
To: tet68
I Googled “bitcoin” yesterday because I have never heard that word before. Google wasn't much help, I still don't understand what it is. I think I was distract.... or something. :)
10
posted on
11/27/2013 7:15:07 AM PST
by
Ditter
To: servantoftheservant
It has far more intrinsic value than a dollar, because there are a limited number of them.
Really? How many?
11
posted on
11/27/2013 7:17:39 AM PST
by
tet68
( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
To: JRandomFreeper
seems like a ponzi scheme but part of me wants to throw some cash at it and take my chances.
To: Red Badger
yuk yuk yuk.
that’s what she said.
13
posted on
11/27/2013 7:18:46 AM PST
by
TurboZamboni
(Marx smelled bad & lived with his parents most his life.)
To: refermech
I'm pretty sure that both Bitcoin and FRNs are a scam, since both are created out of nothing.
/johnny
To: Red Badger
A galosh?
As in, “ We didn’t have an organ so we put a galosh on
the piano”?
Boy that goes back a ways.
15
posted on
11/27/2013 7:19:39 AM PST
by
tet68
( " We would not die in that man's company, that fears his fellowship to die with us...." Henry V.)
To: tet68
amazing how something that doesn't exist can have value, tulips anyone?When the tulips Ponzi scheme collapsed, the owners still had pretty flowers.
When I search for an explanation of what a bitcoin is, I'm told it's created from an algorithm that collects value on the internet. But nobody seems to be able to tell me what that algorithm is.
16
posted on
11/27/2013 7:20:42 AM PST
by
grania
To: FReepers
End It Before Thanksgiving
Click The Pic To Donate
Support FR, Donate Monthly If You Can
17
posted on
11/27/2013 7:21:46 AM PST
by
DJ MacWoW
(The Fed Gov is not one ring to rule them all)
To: JRandomFreeper
Well actually you do have to buy in using real money. Not much different than your bank. Just a bunch of digital entries so there are similarities.
To: refermech
I haven't seen much 'real money' as you call it. Just Federal Reserve Notes, and they are paper and a promise.
It's just swapping one fiat currency for another.
/johnny
To: nascarnation; bolobaby
Some things to consider:
If all of the Bitcoins that could ever be mined, were worth $5,000 each, they would purchase only one month's worth of the US Treasury bonds issued annually.
All of the gold found in the history of man would fund the US Government for only a year at its current value.
20
posted on
11/27/2013 7:24:31 AM PST
by
Errant
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