Is 1 bitcoin really worth 1/4lb of platinum
- Thread starter Steve
- Start date
MrNovice
Forum Supporter
I have no idea how it works and felt left out because not computer savvy
When I googled it understood less.
Understanding the blockchain concept is kinda hard, but makes it very secure as far as conducting transactions and it being verified. Understanding mining gets even tougher, but they are the ones rewarded with bitcoin for verifying the transactions. It's really a much different concept than regulated transactions, but much more secure - like no fraud/identity theft departments needed secure, which is why the fees on transactions are so low. The whole process is pretty interesting, and cryptocurrencies have been around for decades. There are over 600 now, and they mostly all function a little differently.
Steve
Forum Supporter
$9400 and counting.
This weekend bitcoin market cap became more valuable than McDonald's, Siemens, and visa.
On a side note... Monday gold will also be up.. $3.. if the cartel allows it
This weekend bitcoin market cap became more valuable than McDonald's, Siemens, and visa.
On a side note... Monday gold will also be up.. $3.. if the cartel allows it
MrNovice
Forum Supporter
Now almost $10,200...
Is there a leaking or burst bubble on the horizon.
MrNovice
Forum Supporter
Eventually somewhere as there always is. But I'm not sure if there's any past patterns or predictors to know when it would be, at least none I'm aware of. This is all "relatively" new being a digital currency, but I think another fork is coming soon.
It's A Trap!
Senior Member
Tulip mania
Steve
Forum Supporter
Bigger than GE, IBM and all the coins (why are they called coins?) Are worth more than Wal-Mart.
Still havr no idea of 1 place that actually accepts this as payment.
1 bitcoin (created on a computer) = 8oz of refined gold.
amc rulz
Forum Supporter
The first two places I checked are Provident Metals and JMBullion. Both accept Bitcoin in payment, 3% discount at Provident. Looks like everyone from Subway to Straub Auto Repair accept Bitcoin.Bigger than GE, IBM and all the coins (why are they called coins?) Are worth more than Wal-Mart.
Still havr no idea of 1 place that actually accepts this as payment.
1 bitcoin (created on a computer) = 8oz of refined gold.
Mud-puppy
Forum Supporter
Tragic! I'da had 100 million Dollars today if I had just 'invested' that $800 of dirty clad in bitcoins instead of detecting gear!! Thats like Dr Evil Money there! I could have my very own flying Big Boy Rocket ship, a clone, and a Prep H Earth drill, (aka Minelab!!)
Missed the Chance of a Lifetime! Just like George Bailey not getting into plastics when Sam Wainwright told him to! Broke, drunk, with a wrecked car and out wandering around aimlessly in a blizzard!...I suppose that will be my eventual outcome, maybe even this Winter, in fact that pretty much describes most all of my Winters since 1977 as a trapper or icefisherman and here yet again as a detectorist!...
I gotta get out of this self defeating behavioral pattern! How did George Bailey do it? Oh yeah...he said a prayer and an Angel showed up!...Oh Well, it couldnt hurt, maybe God will confuse me with somebody else more worthy? Somebody who really earned a break and deserves a hand up...Like Bill Gates or Elon Musk?
Missed the Chance of a Lifetime! Just like George Bailey not getting into plastics when Sam Wainwright told him to! Broke, drunk, with a wrecked car and out wandering around aimlessly in a blizzard!...I suppose that will be my eventual outcome, maybe even this Winter, in fact that pretty much describes most all of my Winters since 1977 as a trapper or icefisherman and here yet again as a detectorist!...
I gotta get out of this self defeating behavioral pattern! How did George Bailey do it? Oh yeah...he said a prayer and an Angel showed up!...Oh Well, it couldnt hurt, maybe God will confuse me with somebody else more worthy? Somebody who really earned a break and deserves a hand up...Like Bill Gates or Elon Musk?
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Steve
Forum Supporter
I live in Asia and the subway here doesn't accept them. What a chance to sell 1 of these things for 8oz of gold. Stunning.
Btw.. isn't there about a 20 minute wait for it to be processed and a fee which is a % of the value of.the coin? Don't have any bitcoin, not familiar with it... just curious about the process
Steve
Forum Supporter
$11,400 now.. just amazing
MrNovice
Forum Supporter
Wow, that is crazy! Like I said earlier though, I think there is high risk in Bitcoin now.
Steve
Forum Supporter
Strikingly similar to the Osama/Silver slam of 2011. Will see if this ends up the same way.
MrNovice
Forum Supporter
It'll still be very interesting in a few years once mining is over where the final price will settle at.
MrNovice
Forum Supporter
Pretty interesting read here from October: https://pensionpartners.com/when-does-a-bubble-become-a-bubble/
Steve
Forum Supporter
Ding ding ding... looks like the plug is getting yanked. Moving these bits around will likely amount to tax evasion if moving them from site to site
https://www.marketwatch.com/story/uncle-sam-is-coming-after-your-bitcoin-gains-2017-11-30
MrNovice
Forum Supporter
I can't say I'm surprised they caught onto this, but there are a bunch of different places to "purse" Bitcoin, many in other countries. Can't believe they are trying to go back and collect from 2014 forward though. That's walking a tight wire legally if the laws defining Bitcoin as property were not even enacted yet.
amc rulz
Forum Supporter
From what I've read, one can sign up for a Visa card that will allow you to transfer Bitcoin to US dollars onto the Visa account. Used as debit/credit card, for a $2 xfer fee. I have not researched this so I don't know if it's fact.
