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 ...
Indeed we do... :-)
It represents freedom from government in this area of our lives and levels the playing field of the little guy against large corporate monopolies.
I still say that ammunition is much better form of currency than bitcoin.
I’ll take that bet. I am very confident that not only will Bitcoin be here in two months, but that it will be here in one year (and past that, too).
And talking about gold ... that was the other thing I had talked to the family about - gold, in that I thought there was going to be a run-up in the price. I eventually passed that by, though (unfortunately). If I had acted at that time on gold, I would have $200,000 right now.
And, as I said earlier, if I had acted with Bitcoin (at the time I was considering it), I would have $50,000 right now.
This time around, I am going to do something with Botcoin. I’ve got to wait a little while before I move on it.
One would think that eventually mankind in his/her evolution would rise above barbarous acts against one another. However if that were possible, there would be no prophecy about a second coming of the Messiah who will straighten the world out, for all time.
Well its still a semi free country but when the SHTF and its going to a silver coin will still buy something.
Bitcoin is international, so that means that if the US completely collapses, you’ll be able to get other currencies for it. If everyone’s currency in the world collapses, well then ... it will be a nightmare for the entire world.
Current difficulty: 707408256 Next difficulty: 897454241 Amount: 26.87% Target date: 2d 22hr 17m 4s
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How about a short tutorial on the meaning of 707408256. How is difficulty quantified?
So, the world is approaching peak bitcoin. We’re doomed.
“Bitcoin is international, so that means that if the US completely collapses, you’ll be able to get other currencies for it”
What country are you going to move to? :=)
You don’t have to move somewhere to get another currency ...
USD = ‘Bitbill’?
I'm with you that far. I don't understand why anyone accepts the dollar anymore either (though of course I use it on a daily basis).
But--and I ask you genuinely, not just trying to be wise--how does the fraudulence of the fed note lend any legitimacy to bitcoin?
/johnny
You can see live trades here including a market depth chart. Amazing to watch.
Can you lend me a Benjamin short-term?
Ha...just kidding. No, I’m with you. Man, it’s going to be a dusty, bloody, chaotic mess when it all comes a’tumblin’ down, ain’t it?
When the SHTF people will only be trading in currency they can readily identify. That will be American gold and silver coins. Otherwise you better have food, booze or ammo. They will be taking foreign currency right after green stamps.
Shouldn't be much different from raising teenagers. ;)
/johnny
If you find that hard to understand, you're not the only one. It easier to compare what the "mining" difficulty level was in April ( 10M ) with the current difficulty of 707M.
You can readily identify the South African Krugerrand or the Canadian Gold Maple Leaf, plus a host of others. If US Dollars have lost their value, then one can buy anything else that is suitable, at the time.
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