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October, 2024

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Bitcoins

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bcarano
Posts: 33 - Karma: 310
Not sure if anyone on here is familiar with the digital currency Bitcoins, but it is crazy how much the exchange rate of these to USD has gone up in the past few years. A Bitcoin is currently worth about $1000 and has gone up significantly since a year or two ago. If you were to have purchased a bunch of these last year you could have made some serious cash. Anyone own any Bitcoins? Someone was just able to purchase a Tesla Model S with bitcoins at a Lamborghini dealer in newport beach...this could be the future of money...

http://finance.yahoo.com/news/bitcoins-aren-t-just-for-boring-stuff--tesla-s-buyer-finds-165255714.html
Dec 5 2013 11:27PM
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pow_pow~
Posts: 1429 - Karma: 1,804
http://www.newstatesman.com/future-proof/2013/12/theres-£60m-bitcoin-heist-going-down-right-now-and-you-can-watch-real-time


we're aware.
Dec 5 2013 11:29PM
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Chubbs.
Posts: 1018 - Karma: 2,647
Click for larger image
Dec 5 2013 11:30PM
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Parks.
Posts: 5612 - Karma: 1,093

yes this has been discused, there is a megathread all about the deep web and the bitcoin

Dec 5 2013 11:30PM
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2_fadez
Posts: 7780 - Karma: 4,183
People accept them and turn them immediately into cash. Its not like they think they are an investment or a good currency. They just understand you can turn it into dollars in a second, so why not.
It's too volatile, unreliable and unregulated right now to say anything. Maybe it is the future. Maybe it's the snake oil of the 21st century. 100 other web currencies could pop up overnight and take its place. I'm not throwing $1000 dollars away when I saw it for $6 two years ago, and nothing makes me think its worth that much today.

Good to those profiting out of it, but this won't last.
Dec 5 2013 11:32PM
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Darth.Maul
Posts: 2472 - Karma: 652
I bought 5 hundred 000 thousand ,,000.9 of them about 4 years ago and now own a private jet, a small island, and have 500 porn subscriptions.

Thats how bitcoins work.
Dec 5 2013 11:34PM
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whoa-dere
Posts: 10596 - Karma: 7,103
in janurary this year it was 14 dollars. today it's about a thousand so if i bought 14k worth of it back then i would be a millionaire. damn
Dec 5 2013 11:35PM
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Darth.Maul
Posts: 2472 - Karma: 652
Hindsight is 20/20 isnt it?
Dec 5 2013 11:42PM
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bcarano
Posts: 33 - Karma: 310
I have a friend that bought about a thousand dollars worth when they were $10 a piece...They are now worth $1000 a piece and he just sold them for cash...he did alright.
Dec 5 2013 11:42PM
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whoa-dere
Posts: 10596 - Karma: 7,103
yep
Dec 5 2013 11:44PM
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TheBigApple
Posts: 1169 - Karma: 488
Wow they are at $1200 bucks eh? That's pretty fucking nutty. Some people are making bank. Seems like it could be easy to manipulate the system.
Dec 5 2013 11:47PM
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Darth.Maul
Posts: 2472 - Karma: 652
Its actually near impossible to manipulate the system. That's why they're so great.
Dec 5 2013 11:49PM
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louie.mirags
Posts: 6015 - Karma: 5,029
really? 100k in cash money or what? Have you tried convincing them to become a skibum with you?
Dec 6 2013 5:08AM
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jensen
Posts: 2576 - Karma: 1,267
Bank of America just released a very detailed analysis of the fair value of bitcoins and their viability as an investment. This is the best analysis I have seen on Bitcoins and definitely worth a read if you are interested in bitcoins...

https://www.documentcloud.org/documents/885843-banks-research-report-on-bitcoin.html
Dec 6 2013 12:43PM
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iH8pow
Posts: 1803 - Karma: 7,643
The way I look at it, it's just another pyramid scheme. The guys at the top who got in early are going to rich. You can jump in now and put a bunch of money into it and make very little. Shit could go down and it could become worthless overnight.

but then, isn't the stock market the exact same?

Either way, I'm not planning on buying any in the near future. I'd rather buy precious metals, at least they wont shit out on you
Dec 6 2013 2:04PM
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Mr.LemonPie
Posts: 4100 - Karma: 1,625
I wish I was more internet savvy, because if I was I definitely would have been using SR a few years ago and would have had at least some bitcoins...But it just seems to complicated for me.
Dec 6 2013 2:13PM
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louie.mirags
Posts: 6015 - Karma: 5,029
Easier said than done
Dec 6 2013 2:16PM
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