Tim M Posted December 16, 2013 Report Share Posted December 16, 2013 I would love to have an option for this. Of course we are at a point where no one can or will take this seriously yet...but sounds like an interesting idea. Wonder where the tax conversion takes place...when converting it to USD or never if you only deal with bitcoin. hmmmmm... http://bitcoin.org/en/ Quote Link to comment Share on other sites More sharing options...
RJBerto Posted December 16, 2013 Report Share Posted December 16, 2013 I almost bought some bitcoin when they were around $17. Just saw today they are trading at $730. Damn. Quote Link to comment Share on other sites More sharing options...
Henchman Posted December 16, 2013 Report Share Posted December 16, 2013 I'll stick with proper money. Quote Link to comment Share on other sites More sharing options...
VASI Posted December 16, 2013 Report Share Posted December 16, 2013 I'll stick with proper money. Quote Link to comment Share on other sites More sharing options...
RPSharman Posted December 16, 2013 Report Share Posted December 16, 2013 One of our PAs bought 5 bit coins at $40. They were recently $1100, fluctuating up and down to $650 in last couple of weeks. Tried to convince her to sell 2 or 3, buy something ridiculous, and protect herself for when they become worthless. She said she doesn't need the money, and would rather see what happens. Oh, to be 22 and "not need the money". Quote Link to comment Share on other sites More sharing options...
Ze Frias Posted December 16, 2013 Report Share Posted December 16, 2013 One of our PAs bought 5 bit coins at $40. They were recently $1100, fluctuating up and down to $650 in last couple of weeks. Tried to convince her to sell 2 or 3, buy something ridiculous, and protect herself for when they become worthless. She said she doesn't need the money, and would rather see what happens. Oh, to be 22 and "not need the money". I've invested into it, with motivation from a friend who has made a nice profit from it, along with some other crytocurrencies (such as megacoin), and like the PA you mention, got into it willingly as a gamble, willing to lose whatever money I invested. I'm going to wait a year and see what happens. No expectations though. Quote Link to comment Share on other sites More sharing options...
VASI Posted December 16, 2013 Report Share Posted December 16, 2013 Seems like this girl is granddaughter of "Her Majesty the Queen" to not need the money. Hahaha Quote Link to comment Share on other sites More sharing options...
Ze Frias Posted December 16, 2013 Report Share Posted December 16, 2013 Well, the risk she is taking may lead to great profit, especially if the trend continues to go the way it has been doing so. All that said, I still rather get paid in US dollars. Quote Link to comment Share on other sites More sharing options...
Henchman Posted December 16, 2013 Report Share Posted December 16, 2013 A lot of millionaires list everything in when the housing market bubble burst, along with the resulting economic failure. Because if money in can't fail investments. Cash is king. Quote Link to comment Share on other sites More sharing options...
Tim M Posted December 16, 2013 Author Report Share Posted December 16, 2013 Well I don't think it will go away, definitely think it is here to stay, like piratebay being global, this is now a global currency. Trying to shut it down will only make it more popular...some businesses are already starting to accept it as payment...and with it's crypto security a lot more secure than real money in one sense...it is kinda cool. Quote Link to comment Share on other sites More sharing options...
Tim M Posted December 16, 2013 Author Report Share Posted December 16, 2013 bitcoin is even more popular in asian countries...who are buying up loads of this stuff. So if our American fiat currency hyperinflates then I can just convert it to whatever currency I want without having to worry about trying to get into a bank like with gold. Quote Link to comment Share on other sites More sharing options...
old school Posted December 16, 2013 Report Share Posted December 16, 2013 Nope.com CrewC Quote Link to comment Share on other sites More sharing options...
dfisk Posted December 16, 2013 Report Share Posted December 16, 2013 I see bitcoin as an interesting alternative, but much like our current fiat currency, I'm a little concerned about it. There is nothing really backing it up. It's virtual currency. If an electronic apocalypse happens, (i'm looking at you, skynet), what happens to your bitcoins? I think gold is king. Some guy paid for a Lamborghini in bit coins, and then the value of them dropped dramatically and the Lambo dealership lost money on the deal. I think it's still a little too volatile to be used as regular currency, and I see it more of an investment. Quote Link to comment Share on other sites More sharing options...
fieldmixer Posted December 16, 2013 Report Share Posted December 16, 2013 I'd be happy to be paid in silver coins. Quote Link to comment Share on other sites More sharing options...
OmahaAudio Posted December 16, 2013 Report Share Posted December 16, 2013 Some guy paid for a Lamborghini in bit coins, and then the value of them dropped dramatically and the Lambo dealership lost money on the deal. I think it's still a little too volatile to be used as regular currency, and I see it more of an investment. The Lamborghini dealer didn't sell the car for bitcoins and didn't loose money. He had the bitcoins converted into dollars before delivering the car... From the LA Times: "Whether a customer offers to pay for a car in gold bars or euros is irrelevant so long as the currency is converted into dollars, said Davy... After some investigation, the dealership decided to use an independent, Atlanta-based service called BitPay, which advertises itself online as a "bitcoin payment processor," to make the sales possible... Davy can't quite explain how it works, but the business verified the bitcoins and converted them into dollars, which were then wired to the dealership." Quote Link to comment Share on other sites More sharing options...
Ze Frias Posted December 16, 2013 Report Share Posted December 16, 2013 I see bitcoin as an interesting alternative, but much like our current fiat currency, I'm a little concerned about it. There is nothing really backing it up. It's virtual currency. If an electronic apocalypse happens, (i'm looking at you, skynet), what happens to your bitcoins? I think gold is king. You can download your bitcoin (and any other crypto) currency into a local wallet, which you can then encrypt, and copy into a CD, flash drive, web, etc. (You may have multiple copies as well for redundancy). So, it is technically the most electronic-apocalypse-proof thing I know of. Now, their fluctuation in price is a different story. It's highly dependent on supply and demand, and just like the stock market, the fluctuations will vary depending on how much is being bought at the beginning of the day, and how much is being sold at the end of the day. As long as there continues to be a demand for crypto currencies, the value should continue to grow. At least, that's the theory Quote Link to comment Share on other sites More sharing options...
RPSharman Posted December 17, 2013 Report Share Posted December 17, 2013 But it's an invented currency. No regulation. Not that regulation always insures stability, but at least you can attach it to something like a country. Stocks are tied to a product or a company providing services. What if someone invents a different, better, virtual currency, rendering the existing one obsolete? Quote Link to comment Share on other sites More sharing options...
Bob Schuck Posted December 17, 2013 Report Share Posted December 17, 2013 Bitcoins remind me of the junk bond craze of the late '80s, and we all know what happened to them. Bob Quote Link to comment Share on other sites More sharing options...
Henchman Posted December 17, 2013 Report Share Posted December 17, 2013 Bitcoins remind me of the junk bond craze of the late '80s, and we all know what happened to them. Bob Yep. Quote Link to comment Share on other sites More sharing options...
Marc Wielage Posted December 17, 2013 Report Share Posted December 17, 2013 One of our PAs bought 5 bit coins at $40. They were recently $1100, fluctuating up and down to $650 in last couple of weeks. Tried to convince her to sell 2 or 3, buy something ridiculous, and protect herself for when they become worthless. She said she doesn't need the money, and would rather see what happens. Oh, to be 22 and "not need the money". Once I win the Mega Millions Lotto tomorrow ($586,000,000 at the moment), I plan to put it all in Bitcoins. That sounds like a solid investment, right? Quote Link to comment Share on other sites More sharing options...
RPSharman Posted December 17, 2013 Report Share Posted December 17, 2013 Sure. Because when it tanks, you'll still have shitloads of money. Quote Link to comment Share on other sites More sharing options...
Henchman Posted December 17, 2013 Report Share Posted December 17, 2013 Sure. Because when it tanks, you'll still have shitloads of money. Hahahahahahahaha Quote Link to comment Share on other sites More sharing options...
BWilson Posted December 17, 2013 Report Share Posted December 17, 2013 Can't they just print more. Oops, I mean 100111010 some more... Quote Link to comment Share on other sites More sharing options...
Chris Woodcock Posted December 17, 2013 Report Share Posted December 17, 2013 But it's an invented currency. As opposed to the stuff that grows on tree naturally? Sent from my Nexus 5 using Tapatalk Quote Link to comment Share on other sites More sharing options...
André Boisvert Posted December 17, 2013 Report Share Posted December 17, 2013 Once I win the Mega Millions Lotto tomorrow ($586,000,000 at the moment), I plan to put it all in Bitcoins. That sounds like a solid investment, right? Whatever happened to "I'm buying everyone on this board a Nomad 12"? 'cause I registered for that. Quote Link to comment Share on other sites More sharing options...
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