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Bitcoin broke $800 today but was recently a bit below that.

I've never bought any. I admit I don't understand any bitcoin users, but a lot of people I don't understand I have to interact with on this forum.

Any opinions on where it heads from here? I've read some outrageous predictions, but much of that are people who own bitcoins and run pump and dump schemes.

To "celebrate" this milestone, I just posted this thread to even out the bitcoin pumpers who crafted this gem a week ago.
https://www.fatwallet.com/forums/finance/1549640

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Red.

Why not just update that thread?

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Because it's more fun to create a new thread every time bitcoin changes price. I'm just following the precedent set by this forum.

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$h1+<on, Pseudo currencency based on the value of a computer crunching numbers somehow accepted and valued for now until its ousted by the IMF or people realize there are no big guns to back the value.

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Bitcoin is for those people born too late to trade tulip bulbs, baseball cards, Pogs, comic books, Cabbage Patch Kids, or Beanie Babies. As soon as the US govt bans all transaction in crypto-currency "to prevent terrorism", no one will accept payments in them anymore and the same people will start speculating on the next fad. I'm hoping for Elvis Collector Plates.

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80% of the trading appears to involve the PRC in an attempt to evade currency controls.   How long before the Chinese Corruption Police start a crack down.  Very few non Chinese exchanges left.

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Are you the 101 yo SIS that came back from the future with 30% of the CPU left? I always wondered about that.

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I'm glad the thread was made. We always get the pumper threads but no one ever posts to those when it drops 20%. Anyone who thinks they are "investing" in bitcoin is nuts. This is speculation at best and gambling at worst.

I'm not unopposed to wild speculation by the way, I do so with 5% of my portfolio which I consider "fun money." But it is important to recognize when you are engaging in wild speculation. Bitcoin is exactly that.

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Back in my day we had pyramid schemes, today it's bitcoin.

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nsdp said:   80% of the trading appears to involve the PRC in an attempt to evade currency controls.   How long before the Chinese Corruption Police start a crack down.  Very few non Chinese exchanges left.
http://money.cnn.com/2017/01/12/investing/bitcoin-price-china-vi...

 

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The hate by skeptics of this technology is irrational. The love by supporters of this technology is irrational. I don't know why Bitcoin gets people so riled up.

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I just get irritated by the pumping and the timing of posts on this forum, this thread was supposed to be a joke.

The blockchain technology is genius and will be the future of digital transactions, but I don't think bitcoin specifically will be the medium that ultimately gets used. It's too big a threat to centralized fiat and policy to not regulate the hell out of it.

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Back above $900 today.

I really don't have much bitcoin, but dabble in it. If it goes up, yay. If it goes down, it won't kill me.

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burgerwars said:   Back above $900 today.

I really don't have much bitcoin, but dabble in it. If it goes up, yay. If it goes down, it won't kill me.

  

Where is the new thread "BC now at 900"?  

 

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Approaching $1000 again today 😂

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LaChupacabraj said:   Approaching $1000 again today 😂
  
wrong thread, search for the bitcoin 1000 thread, think we have a thread for every value from 1-1000, by dollar. 

 

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It did slightly punch through $1,000 today when I checked on Coinbase. Right now it's slightly below. I'm still holding on to my small batch of coins.

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Been holding above $1000 for a few days now...

:crickets:

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RealEstateMatt said:   Bitcoin is for those people born too late to trade tulip bulbs, baseball cards, Pogs, comic books, Cabbage Patch Kids, or Beanie Babies. As soon as the US govt bans all transaction in crypto-currency "to prevent terrorism", no one will accept payments in them anymore and the same people will start speculating on the next fad. I'm hoping for Elvis Collector Plates.
  
I think you, and many others, have a vast misunderstanding about what exactly Bitcoins are.  Let's take some of your examples such as Tulip Bulbs or Comic Books.  People trade comics and at times they've retained some value. Realistically it's a poor investment.  But what are Comic Books?  Would you dismiss the technology of printed picture simply because your issue #1 of BatGirl isn't worth $1000?   The flower industry is worth over $100 BILLION annually.  Bitcoins are much more than a simply store of value. It's a very serious technology that will, and already is, changing everything you know about storing value.

I can imagine a time when printed money seemed ludicrous and the old-guard wanted to hold silver and gold coins. Eventually printed money became the defacto currency but I honestly question why. 

I suggest anyone interested in truly understanding how in 20 years Bitcoin (actually cryptocurrency) is going to change everything you think you know about storing value. Twenty years ago there was people who didn't think they needed an email address. 

Like it or not, believe it or not, your lives are changing even if you don't know it.

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