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Thread: Let's talk about the stock market

  1. #231
    Consider this a warning Dead Lesbian Goat's Avatar
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    Quote Originally Posted by Boglin View Post
    I'm going to call $20K by noon.
    You may be right. Now at 17k

  2. #232
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    Looks like Matt called it. 19k right now. That's like a 35% increase since I woke up this morning.

  3. #233
    *cough, clearing throat*

    It's a new paradigm, and everybody who doesn't buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their bitcoin will continue its 10,000% yearly price increase.

    Dollar users, and anybody born in a future generation, will not be able to afford a $100,000,000 starter bitcoin in 15 years. They will live in tent cities, and Hondas.

    This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent. Thank you.
    Bungee Cup Holder Guru

  4. #234
    Uncensored Hypocrite stevedmc's Avatar
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    Never eat an entire bulb of garlic in one sitting. I did that Sunday night and despite drinking lots of water every day, I am still very thirsty.

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  5. #235
    Well, the highest trade I saw was $19,300. Looks like I was $700 short.

  6. #236
    Consider this a warning Dead Lesbian Goat's Avatar
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    Quote Originally Posted by Duplicate Account View Post
    *cough, clearing throat*

    It's a new paradigm, and everybody who doesn't buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their bitcoin will continue its 10,000% yearly price increase.

    Dollar users, and anybody born in a future generation, will not be able to afford a $100,000,000 starter bitcoin in 15 years. They will live in tent cities, and Hondas.

    This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent. Thank you.
    Sounds right to me. In the future some guy will be using my kilo bricks of silver to prop up their outdoor grills and my 1oz gold bars would make fine shims for door frames.

  7. #237
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    Of all things, I wasn't able to get my head around WTF a Bitcoin is (or isn't.) Otherwise, I woulda had some by now....sonofabitch!

    i.e. Suppose I have a Bitcoin; who wants it, why, and how does it change hands?

    AND WHY THE F ARE THEY GOING UP IN VALUE IF IT'S JUST "ANOTHER FORM OF CURRENCY?!"

  8. #238
    There's nothing about Bitcoin today when it's priced at $17,000 that makes it more valuable than it was when priced at $0.00001. It can still be used the same way to send money to others. It still is impractical as a retail-brick&mortar-means of payment.

    But, like being transgender, it's now fashionable and cool.

    99.9% of people buying it don't know what it is, don't plan to use it as a currency, and are only in it to try to get rich quick.

    Would you use something as a currency that gains or loses 20% in just a few hours?

  9. #239
    Consider this a warning Dead Lesbian Goat's Avatar
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    Quote Originally Posted by Rich_NYS View Post
    Of all things, I wasn't able to get my head around WTF a Bitcoin is (or isn't.) Otherwise, I woulda had some by now....sonofabitch!

    i.e. Suppose I have a Bitcoin; who wants it, why, and how does it change hands?

    AND WHY THE F ARE THEY GOING UP IN VALUE IF IT'S JUST "ANOTHER FORM OF CURRENCY?!"
    I have been really reading up on block chain technology and trying my best to figure out why it's worth what it's worth. I just can't get there. I can not figure out why CC is superior to say PayPal or any other type of electronic fund transfer outside of the fact that it is unregulated. I have tried to understand it by comparing it to my favorite alternative store of wealth, gold and silver. OK, gold and silver can not be used as currency in the form of say, paying off my mortgage to the bank, nor could I mail a few ounces to the IRS and pay my taxes, so in that sense it's no better than Cryptocash. However gold and silver have both tangible and intrinsic value as manufacturing materials, jewelry, high end electronics, and I'm sure other areas and that is what makes them valuable(not to mention the rarity of gold and the resources used to mine it) and easily sold (or traded) at market value. So what makes CC's valuable? IMO they are nothing more than a proxy for cash and that proxy can be transmitted across the globe for whatever currency the recipient needs and completely immune to taxation and government oversight. That in itself just may be enough to give it a kind of "digital tangible" value. This weekend the futures options door opens and we will see all the cards on the table. Bitcoin could very well blast into 30k+ territory this time next week, or it could wind up being the millennials version of Betamax. I can tell you this, when (not "if") governments step in to regulate it (you don't think they are just going to give up tax revenue without a word said do you?), bitcoin will be just like any other form of alternative currency except there will be nothing tangible about it and although at this point it's hard to see it ever being worthless, I just don't see a long fruitful future for it either. After all, if the government decides to make it illegal to own (like they did gold not too long ago) that alone could kill it.

  10. #240
    Uncensored Hypocrite stevedmc's Avatar
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    Quote Originally Posted by Dead Lesbian Goat View Post
    I have been really reading up on block chain technology and trying my best to figure out why it's worth what it's worth. I just can't get there. I can not figure out why CC is superior to say PayPal or any other type of electronic fund transfer outside of the fact that it is unregulated. I have tried to understand it by comparing it to my favorite alternative store of wealth, gold and silver. OK, gold and silver can not be used as currency in the form of say, paying off my mortgage to the bank, nor could I mail a few ounces to the IRS and pay my taxes, so in that sense it's no better than Cryptocash. However gold and silver have both tangible and intrinsic value as manufacturing materials, jewelry, high end electronics, and I'm sure other areas and that is what makes them valuable(not to mention the rarity of gold and the resources used to mine it) and easily sold (or traded) at market value. So what makes CC's valuable? IMO they are nothing more than a proxy for cash and that proxy can be transmitted across the globe for whatever currency the recipient needs and completely immune to taxation and government oversight. That in itself just may be enough to give it a kind of "digital tangible" value. This weekend the futures options door opens and we will see all the cards on the table. Bitcoin could very well blast into 30k+ territory this time next week, or it could wind up being the millennials version of Betamax. I can tell you this, when (not "if") governments step in to regulate it (you don't think they are just going to give up tax revenue without a word said do you?), bitcoin will be just like any other form of alternative currency except there will be nothing tangible about it and although at this point it's hard to see it ever being worthless, I just don't see a long fruitful future for it either. After all, if the government decides to make it illegal to own (like they did gold not too long ago) that alone could kill it.
    I said the same type of stuff when bitcoin was worth a dollar.

    I said it peaked and would soon fall when it hit $200. I said the same thing at $1,000.

    Now I'm just keeping my mouth shut.

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