I have bought like 2-3 BTC's in the summer while the price use to be ~$300 and sold each for $500 I think, lol
I should have kept them
I should have kept them
Anyone invested in Bitcoins?
- Thread starter Jay Wessman
- Start date
Jay Wessman
Well-Known Member
Now that bitcoin is so expensive a lot of people are hesitant to buy because they can't afford to buy a full bitcoin and many people don't want to 'only' own a fraction of a bitcoin even though it's totally reasonable to do so.
But a lot of the bitcoin community is making a push at the moment to transition from using whole bitcoins as the default unit to mBTC (1 mBTC = 0.001 BTC = around $1) which I think is a pretty clever move.
So this means that the community is trying to get bitcoin exchanges and stores that accept bitcoin as a payment method to show their prices in mBTC instead of BTC and this should hopefully help to remove the psychological barriers for new investors and adopters who don't want to get into bitcoin because they can't afford a full bitcoin... because buying 100 mBTC sounds much more appealing than buy 0.1 BTC.
Sites like Bitcoinity and BitAverage have already made the switch and hopefully more will soon!
But a lot of the bitcoin community is making a push at the moment to transition from using whole bitcoins as the default unit to mBTC (1 mBTC = 0.001 BTC = around $1) which I think is a pretty clever move.
So this means that the community is trying to get bitcoin exchanges and stores that accept bitcoin as a payment method to show their prices in mBTC instead of BTC and this should hopefully help to remove the psychological barriers for new investors and adopters who don't want to get into bitcoin because they can't afford a full bitcoin... because buying 100 mBTC sounds much more appealing than buy 0.1 BTC.
Sites like Bitcoinity and BitAverage have already made the switch and hopefully more will soon!
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I've had a WebProNews newsletter in my inbox for a while but just go to it today and this Bitcoin article was one of the stories. Won't it be a hoot if the next U.S. Federal Election is paid for with Bitcoins?
The Next Election May Be Funded By Bitcoin | WebProNews
The Next Election May Be Funded By Bitcoin | WebProNews
Here this link will tell the story
A College Kid Made More Than $24,000 Yesterday Just By Waving This Sign On ESPN - Business Insider
Price dropped to almost 600 after China didn't recognized bitcoin as currency(and Bloomberg took that as "China blocked bitcoin") and Baidu(largest search engine in China) announced that they won't accept bitcoin anymoore.
So you either but now...or wait until hits even lower value(if it hits 500 i'll buy a few)
So you either but now...or wait until hits even lower value(if it hits 500 i'll buy a few)
P
prosper202guide
Guest
the thing i don't like about bitcoins is that they have no instrinsic value behind them.
they were made by an application that people could download and run on their PCs which solved numerical algorithms that occasionally turned up a bitcoin (out of an assigned total universal number of bitcoins). but the mathematical computations generated in no useful result other than warming the air of the room where the PC was located because the machine ran hot with all of the computations. i'd feel a lot better if they had used those cycles to solve real problems like figure out how proteins fold or basically any problem that yielded a useful result that had some value to society.
i'd hate to see world economies tied to bitcoins. imagine if one day people decided these things really were like inflated tulip bulbs. it could put us back in the stone age practically overnight.
they were made by an application that people could download and run on their PCs which solved numerical algorithms that occasionally turned up a bitcoin (out of an assigned total universal number of bitcoins). but the mathematical computations generated in no useful result other than warming the air of the room where the PC was located because the machine ran hot with all of the computations. i'd feel a lot better if they had used those cycles to solve real problems like figure out how proteins fold or basically any problem that yielded a useful result that had some value to society.
i'd hate to see world economies tied to bitcoins. imagine if one day people decided these things really were like inflated tulip bulbs. it could put us back in the stone age practically overnight.
Jay Wessman
Well-Known Member
I totally agree with you and know exactly what you are saying which makes me very skeptical about bitcoin. I try to be as skeptical as I can be because skepticism is healthy right?
And I don't want to get all philosophical on you motherfuckers but at the same time I can't help but think... what is anything backed by?
What is fiat currency backed by?... well nothing these days. What is gold backed by?... history?
I think the value of anything has always been simply what people perceive the value to be of that thing to be. And bitcoin is no different.
I have no idea where this thing is heading but I'm not selling (In fact I'm buying) and I'm just gonna hold onto my coins and see what happens.
Jay Wessman
Well-Known Member
You've got to go through an exchange and usually it's done by going into a bank and paying with cash.
I use coinjar.com because the rates are low (2%) and the transactions are near instant but I'm pretty sure they only support Australia at the moment.
There are a LOT of exchanges out there though just got to do a bit of hunting around.
Right now, they're running a contest on the Bitcoin News FB page:
Win Bitcoins every hour
Also, Jobs that pay in Bitcoins
Win Bitcoins every hour
Also, Jobs that pay in Bitcoins
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