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Everything You Need to Know About the New York Hearings on Bitcoin
Coin Desk ^
| 28 January 2014
| Emily Spaven
Posted on 01/28/2014 7:50:49 AM PST by Errant
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To: Errant
Excellent program, I couldn’t buy the education I got today, can’t wait for tomorrow.
21
posted on
01/28/2014 1:09:49 PM PST
by
PoloSec
( Believe the Gospel: how that Christ died for our sins, was buried and rose again)
To: TWhiteBear
So if bitcoin is considered money, where can I buy or sell a futures contract for bitcoin
I use an exchange called
btc-e.
There is a .2% transaction fee on all buying and selling but that's it.
I actually bought a few litecoins yesterday on a buy order while I slept. Got up this morning and sold them for $1.80/coin profit.
To: mmichaels1970
Thanks, and the BTC-E link was informative and has a spirited chat room.
A .2% fee(two tenths of a percent)is a lot less than credit card or commercial bank transactions(all fees included.
Can the .gov tell if you own or have used a bit coin?
TWB
23
posted on
01/28/2014 2:31:15 PM PST
by
TWhiteBear
(Sarah Palin, the Flame of the North)
To: PoloSec
I was actually surprised by how well some of these NY officials conducted themselves and by the questions they were asking. In all, a better job than a lot of the US Congress or Senate could have done were the idiot factor is high with more than a few.
24
posted on
01/28/2014 2:47:09 PM PST
by
Errant
(Surround yourself with intelligent and industrious people who help and support each other.)
To: PoloSec; All
25
posted on
01/28/2014 2:55:46 PM PST
by
Errant
(Surround yourself with intelligent and industrious people who help and support each other.)
To: TWhiteBear
‘So if bitcoin is considered money, where can I buy or sell a futures contract for bitcoin’
Good question. The answer?
Sort of.
Bitcoin isn’t like other fiat currencies. With bitcoin, anyone using bitcoin can download the books to see how much bitcoin actually exists. Bitcoin is ‘mined’ using computer algorithms that incentivize many different computer nodes exist in order to ensure these books remain open, and that the total amount of currency available remains stable as more people exchange it.
If you look at the bitcoin to dollar exchange rate, it doesn’t reflect the buying power of bitcoin at all.
If an apple, say, cost .0005 bitcoin today, then 10 years from now, that same apple will cost .0005 bitcoin.
However, buy an apple today at $1.25 an apple, and in 10 years it will likely be in the neighborhood of $4.00.
This is because the Fed is printing $80B a month. The Oregon state budget was $30B last year, if I recall correctly.
To: Errant
Who here on FR has signed up for bitcoin? Any advice would be appreciated. Thanx.
27
posted on
01/28/2014 3:22:50 PM PST
by
Jumper
To: Errant
Yep, we're all feeling the effects of government overregulation with no end in sight. It's a good test for this new medium of exchange. Bring it on, IMO, let the free market make it or break it and the repressive governments of the world eliminate it, if they can. If people are to ever wrestle control of the currency back from government and banksters, it will take a currency (medium of exchange) proven capable of withstanding anything that can throw at it.
You nailed it. This is exactly how I feel.
To: Jumper
I’ve been invested in Bitcoin for 2 1/2 years and believe we are a long way from the top.
If you are thinking the Bitcoin protocol is simply a currency you are already behind the curve. It’s real power is in its decentralizing characteristics which can extend to contracts, wills etc. etc. Imagine eliminating the need for third parties like large corporations, large governments and expensive attorneys with the use of mathematical algorithms.
If anyone is curious about Bitcoin this is one of the guys that explains it plainly and extensively:
http://www.youtube.com/watch?v=O0oDDIy0P2s
http://www.youtube.com/watch?v=-CI7XXzJDqo
http://www.youtube.com/watch?v=q6MGcE68-8g
For an idea of the greater roadmap ahead of us, see this:
http://ethereum.org/
To: deltanine
Nice. Thanks for posting this.
30
posted on
01/28/2014 7:15:26 PM PST
by
alrea
To: TWhiteBear
Can the .gov tell if you own or have used a bit coin?
Unfortunately, I'm not that far into the learning process yet.
To: Jumper
Who here on FR has signed up for bitcoin? Any advice would be appreciated. Thanx.
I'm currently mining Litecoin (bitcoin's little brother I suppose), which can be converted into bitcoin or USD. Check my posting history and I have several links you can follow to learn more.
To: TWhiteBear
Can the .gov tell if you own or have used a bit coin? Only if they connect you to your Bitcoin public key.
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