How about those Bitcoins?
When I was in Boulder last winter Nick and Chris were talking about Bitcoin, I had my GF in Ecuador buy a few grand worth the following week.
They were worth more than an ounce of gold (yesterday). I sold half of mine in about an hour.
Wish I wouldn’t have wasted my time working since I bought them, but you never know, sometimes you win, sometimes you break even, other times if you don’t do your homework, you lose.
Chris made a killing too. He bought them at $17.
Aren’t they up near $300 now? If some of the big players get invested it’ll stabilize a bit. A virtually untraceable international currency is gaining popularity in the black market too…
After reaching an all-time high of $1242 last week, bitcoin is feeling gravity today and the virtual currency is trading down 7.8% to $998.
Despite the sell-off, however, the newly minted-currency is the talk of the town on Wall Street and now on Main Street. Today, analysts at Wedbush had the guts to discuss bitcoin and believe it could be worth 10-100x its current price.
wow!
Before you jump on the band wagon.
Man throws away Bitcoins worth $7.5m in landfill
LONDON: A British IT worker has launched a frantic search of a landfill site after realising he accidentally threw away a computer drive holding $7.5 million (5.5 million euros) in the online currency Bitcoin.
James Howells, 28, obtained 7,500 Bitcoins in 2009 when the currency was virtually worthless. Its value has since soared,
http://articles.timesofindia.indiatimes.com/images/pixel.gif
Michael, when people tell me that bitcoins are like the tulip bulb craze of the 1600’s … I tell them that I wish I was in (and out) of that bubble too. I ride the waves.
Until you have the money in a real bank via ACH transfer you have nothing of value.
Some people like to play with fire.
Bitcoin craze this year…
January $13
November $200
By Thanksgiving $1200
Some say next year the chart may look like the parabolic down pattern similar to Eiffel Tower. 
You have nothing of value when you have money in a real bank either. You have a paper I.O.U. (bank statement) that at best, can be redeemed for different pieces of paper (U.S. dollars) that are created out of thin air, backed by nothing, and that have already lost 99% of their purchasing power.
You missed the point by a country mile.
A bit coin is only worth something in trade or when backed by a real currency.
I hope chris has been smart enough to cash out. If he keeps it in bit coins there is no guarantee.
A $1200 bit coin could suddenly be worth zero like others have found out the hard way.
If you don’t understand that you don’t understand what you are dealing with.
What is a “real currency?” Can you give me an example?
And the dollar can’t? It’s already lost 99% of its purchasing power and like all other currencies in human history, the dollar will be worth zero one day too.
The U.S. dollar. The Yen. The Euro
You and I may not like but it is backed.
A bit coin is not.
A bit coin like all bubbles can crash just as fast as it went up.
Only a fool would think differently.
Its akin to playing penny stocks.
A 1000% gain is only good if you sell your holdings assuming you can find a buyer.
By what?
You are ignoring what I am saying. You may not like how it is backed but it is backed and is extremely unlikley to experience anything like the change in percentage value of the bitcoin in the same time frame.
Look at it this way.
If you collected bitcoins from 1000 people to pay for CMI applications how would you feel if the price crashed to 10% of the former value the next day?
Everyone loves the bubble on the way up.
Not so much on the way down. Timing is a *****.
Good nite.
Volatility aside, what do you think the U.S. dollar is backed by?
The U.S. Dollar is backed by the labor of its citizens.
And gold backed currency does not solve the problems you think it does.
Tossing aside the volatility issue is foolhardy but I can understand why you don’t want to address it.:roll::roll:
Huh?
Yada yada yada
If you bought bitcoins or received them for purchased goods 2 days ago you have already lost 10% of its “value”
some currency. NOT
I don’t like the Fed either but you are not comparing apples with apples.