Posted on 12/07/2013 11:23:34 AM PST by Errant
The Bitcoin price last traded at USD 790 (this morning) which represents a 37% price crash against its trading high of 1242, vaporising the wild dreams of just a few days ago where some reported that the virtual money could be destined to go as high as 1 million! Whilst never realising the difference between what is virtual and what is real, instead in large part bitcoin pumper's remain in denial as many have been seduced by the golden coin image to imagine that bitcoins and gold are the same or similar when the reality is the exact opposite. Bitcoins is fairy dust, it is perceived as being very valuable but a small gust of reality is enough to make it disappear.
(Excerpt) Read more at marketoracle.co.uk ...
Where are all the FR bitcoiners who didn’t want to hear it when I posted last week “If you got em dump em”? :-)
/johnny
Thanks for clearing that up. I thought they just came out of thin air.
As opposed to what the Federal Reserve does... oh... wait...
/johnny
Based on THAT chart, it’s time to buy dollars. Can’t get much lower!!
” Actually, bitcoins are made in the oven.
By cooking books.”
Yes but first they have to be harvested from trees. Then put in the oven.
I stopped mining a while back as the power usage was exceeding my output. Having multiple gaming machines using their GPU’s 100% of the time eats a lot of juice lol.
I’m actually waiting to pick some up - but I want to see it back to where it was a few months back. If I had picked it up back when I was talking about it to the family, I would have $50,000 more right now. I would have sold out at $1,000 a Bitcoin.
Well, I’ll wait and get into it this next time ... :-) ...
The big-government/big-corporate/big-union criminal complex doesn’t like competition.
As for fiat, history has tested it, and time and time again, it always becomes worthless. Yet, being the geniuses we are, we've allowed the bankers to sucker us into using it yet again. Now the whole system, worldwide, appears near collapse - in fact, our leaders were told in '08, if they did not agree to massive bailouts, it would.
Here are a few articles from a little earlier ...
Silicon Valley catches Bitcoin fever
http://www.freerepublic.com/focus/f-news/3097361/posts
A Prediction: Bitcoin Is Doomed to Fail
http://www.freerepublic.com/focus/f-news/3097365/posts
Bits and Bob [analysis of Bitcoin]
http://www.freerepublic.com/focus/f-news/3097370/posts
Bitcoin Under Pressure
http://www.freerepublic.com/focus/f-news/3097394/posts
Huge bitcoin heist: Black market drug shop Sheep Marketplace poofs with $40 million
http://www.freerepublic.com/focus/f-news/3097504/posts
Meet ‘Bitcoin Jesus,’ A Virtual Currency Millionaire
http://www.freerepublic.com/focus/news/3097691/posts
The secret Hong Kong facility that uses boiling goo to mine Bitcoins
http://www.freerepublic.com/focus/f-news/3097708/posts
Here’s What Critics Miss about Bitcoin’s Long-term Potential
http://www.freerepublic.com/focus/news/3097766/posts
Bitcoin recognized by Germany as ‘Private Money’
http://www.freerepublic.com/focus/f-news/3097870/posts
The Rise and Fall of Bitcoin
http://www.wired.com/magazine/2011/11/mf_bitcoin/all/
And it will keep bouncing back, because a lot of people like the idea that it represents.
Thanks!
Not sure about that. I thought maybe Johnny Carson really isn’t dead, instead he’s working as Carnak the seer for the Fed.
See post #31 for a few articles on it.
Yep, lol LTCs are still profitable using GPU miners though. ;)
Indeed! Who didn't see it coming. If they can't bring it down through manipulation, then they will pressure government to outlaw it, same as gold in the '30s.
In a couple if mos it won’t be around anymore. It’s like a penny stock. It gets pumped then demped.
Buy something of real value like junk silver or fractional gold.
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