Bitcoin is at $841 USD right now...

[TheCleanGame]

As of this posting the price of one bitcoin is over $840USD...

I'm predicting that it will drop back down to between 200-250$ in the next few months as there's no backing for this inflated price.

Discuss...

Keep it Clean!

 

[Moppel]

lol....think i read the same thing in some other thread when btc hit "the magical" 100$...

 

[supermanlives]

I like my money on hand or buried. no thanks

 

[unregistered190]

Have seen Bitcoin in the news a few times now.....going to have to check it out and see what it is all about.
First I had heard of it was when the Silk Road news first came out.

 

[TheCleanGame]

I like my money on hand or buried. no thanks

saved to a usb-key...

printed out on paper...

burned to cd...

engraved in metal...

How would you like to preserve your bitcoin? It's a digital currency... all you need is the digital signature to spend/transfer your bitcoin and that can be stored in a huge variety of ways.

Keep it Clean!

 

[Skunkpassion]

I don't understand how you can value this currency?

What determines it's value?

 

[stihgnobevoli]

i wish i had gotten around to bitcoin mining...even 1 coin would be $841 more than i started with. it's not too late to get on a bandwagon.. RIM/ BBRY is about to release a $2500 phone. if i know CEO types like i think i do and trust me i spent 3-5 years hob nobbin with em lemme tell ya they're gonna jump all over this exclusive fancy ass phone. BBRY stock was $6 last i checked down from $40-50 at the beginning of the year.. buy buy buy ! if you're into stocks and whatnot.

I don't understand how you can value this currency?

What determines it's value?

same thing that powers the US dollar.../economy...hopes and wishes lol

 

[supermanlives]

no thanks

 

[Treetroit City]

Bitcoins have been seized by the government. Where is the benefit?

 

[unregistered190]

Bitcoins have been seized by the government. Where is the benefit?

Good question Third............what exactly is the advantage?

 

[TheCleanGame]

Bitcoins have been seized by the government. Where is the benefit?

WTF? FRN's have been siezed by the govt... you still buy groceries with them and probably have a few in your pocket.

Houses have been siezed by the govt... you still live in an apt or house though.

I don't see your point. Unless you're mistaking a few bitcoins with the entire bitcoin network some how?

I don't understand how you can value this currency?

What determines it's value?

The value is loosely determined by the amount of electricity spent to track and manage the network of transactions.

The more transactions and electricity that's spent... the more the base value of the coin is. Political events cause disruptions in the price but it always pretty much stabilizes to the baseline of electricity spent.

Keep it Clean!

 

[Moppel]

no reaction....

 

[jayjayfrank]

ya, i agree, bitcoin should fall back to the $250 greece bubble price and hold for a while. it will probably stay at $900 for a bit before that. i would want some at the $250 price tho. i would still buy light coin now at $9 too. not that i have any money.

the question is not what we are going to use it for the question is what is china going to use it for. they are the reason why the price has gone this high recently. expanding markets.


the preppers dont like bitcoin because it wont survive a nuclear attack (like they would).

 

[supermanlives]

saved to a usb-key...

printed out on paper...

burned to cd...

engraved in metal...

How would you like to preserve your bitcoin?

engraved in a gold ingot in my hand

 

[JVonChron]

Here is how i understand/was explained bitcoins to have value. This asian guy came up with a super complex algorithm that has built into certain characteristics that lend value. so basically to get a bit coin/mine a bc you have yourself set up a super fast processing computer(or a network of computers) and it solve this complex algorithm. well every time the algorithm is solved it has a characteristic built into it to make the algorithm harder to solve the next time. that in combination with there were only _____ amount of bitcoins made to begin with give it value. saw a snibit on a documentary on tv and one of the best computer hackers in the world said that the coding on bit coins is straight up alien technology no one can break it.

 

[JVonChron]

"there s a limit to the number of Bitcoins that can be mined. to prevent inflation. After the year 2140, no more Bitcoins will be created. the total amount ever available is fixed at 21 million" from bitcoin page. there are ~11.3 million coins in circulation right now.

 

[benzo]

Here is how i understand/was explained bitcoins to have value. This asian guy came up with a super complex algorithm that has built into certain characteristics that lend value. so basically to get a bit coin/mine a bc you have yourself set up a super fast processing computer(or a network of computers) and it solve this complex algorithm. well every time the algorithm is solved it has a characteristic built into it to make the algorithm harder to solve the next time. that in combination with there were only _____ amount of bitcoins made to begin with give it value. saw a snibit on a documentary on tv and one of the best computer hackers in the world said that the coding on bit coins is straight up alien technology no one can break it.

hey whats the title or name of the documentary

 

[benzo]

Here is how i understand/was explained bitcoins to have value. This asian guy came up with a super complex algorithm that has built into certain characteristics that lend value. so basically to get a bit coin/mine a bc you have yourself set up a super fast processing computer(or a network of computers) and it solve this complex algorithm. well every time the algorithm is solved it has a characteristic built into it to make the algorithm harder to solve the next time. that in combination with there were only _____ amount of bitcoins made to begin with give it value. saw a snibit on a documentary on tv and one of the best computer hackers in the world said that the coding on bit coins is straight up alien technology no one can break it.

hey whats the title or name of the documentary? i wanna check it out

 

[oceangrownkush]

Bitcoins have been seized by the government. Where is the benefit?

Actually if stored properly (ie, your private key is PRIVATE) bitcoins CANNOT be seized/stolen. Government entity or not. This is why bitcoins are revolutionary, they put the power of a bank and trust, shit even MORE power, in the hands of the people who can harness the technology.

READ AGAIN; USED PROPERLY BITCOINS CANNOT BE SEIZED. This is why the feds seized only ~3million USD valued in BTC.. They only got the BTC on the Silk Road servers, not the 80 million BTC that the operators profited from SR.. THAT btc remains unseized..

 

[JVonChron]

trying to find it...it was years ago I saw it. back when bitcoins were at like 75$. I wanna say it was a wired magazine interview but i cannot find it for the life of me at the moment.