Bitcoin - online fad or the future?

rsh01 said:
the main advantage is transferring money across ccy jurisdictions cos it costs 0 to transfer. the other main advantage is that there is no Central Bank to dilute the value
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Another main advantage is that its not loaned into existence as is our current debt based fiat money is, that alone would wipe around a £50,000,000,000 burden off the UK taxpayer each year!

rsh01 said:
ie companies such as Domino's pizza accept payment in BCs just means you have to transfer your ccy to buy a pizza which will end up costing more as Dominos will add a tfr commission. if the **** hits the fan though & fiat ccy's ($s) etc depreciate heavily then if you do have some wealth stored in bitcoins then you will be able to load up on many more thin crust hawaiians than you originally thought was possible.
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Ahhhhh maaaan im IN! :cheesy:
 
wackypete2 said:
US regulators are about to get involved, It will nosedive back to 1 quickly.

Peter
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Hmmm not sure... All the more reason for it to rise mi thinks. :rolleyes:

However, I do think if the monies get large enough the NSA will try and hack the encryption to steal them lollies :whistling
 
Atilla said:
Hmmm not sure... All the more reason for it to rise mi thinks. :rolleyes:

However, I do think if the monies get large enough the NSA will try and hack the encryption to steal them lollies :whistling
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Agree but i think we r in the last phase right now and its going to drop hard , it may rise again however in the future who knows , currently crossed 1000 in China but still trading around 700 in BTC-e , big spreads there between exchanges .....

https://vip.btcchina.com/
 
I bet what we see now is speculators at work. It probably will drop significantly and then will start growing again.
 
tar said:
$600+ and in china $700+ !
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Anyone trading this? :eek:

bitcoin-prices.jpg
 
tar said:
This type of markets is for long term investing -not at these prices- and not for trading , beats any forex trading system if you ask me ...
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Well even if you were in from the start of that chart, you'd have to sit through an 80%+ drawdown
 
Shakone said:
Well even if you were in from the start of that chart, you'd have to sit through an 80%+ drawdown
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80% of capital invested not of your whole account , surely if you are going to be that type of investor diversification is key , and as an investor you should consider scaling in that's how it is done and that's how wealth is being created , trading/daytrading is just suitable -if its done correctly and you're profitable at it - for Q/Y small gains - income - which is good if you are consistent and you have a good account size 100K , even if you're rich you need a consistent income and here comes trading or business for that matter , but trading your own account is certainly wont make you rich , living expenses , DD periods and changing market conditions will take care of that not happening . Soros is a hedge fund manager and he owns a hedge fund so that's different , Warren is an investor and a business man ... etc . Profitable prop traders ? how much they make 5K -10K quids a month , good but wont make them rich or wealthy you have to price in taxes and living expenses in the US/UK , so what remains is going to their saving accounts or to recover DD periods , anyone making more than that is already rich and have a big account size or managing others money . So trading for a living ok yes if done properly , trading to turn a small account to a big account and become rich no wont happen .
 
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