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Looks like I chose a safe bet. Mt Gox is flooded with bitcoin trades. I just need to get to walmart now...
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I've been waiting for this day for a long time. What will be the lowest bitcoin price(nearest dollar) and what will be the closing price(nearest dollar) 2 days after the drop?
Winners get a piece of a $10 pot.
I predict $25 with a final price of $30.
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Still falling, I expect $5 in the next few days.
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We need a currency named after Ron Paul.
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Bitcoin is in freefall again, was 7.5 earlier but now it's 6.5. I predict the floor will be at 3.5.
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Well this time it looks like a dire situation. Since congress can't decide on anything, it looks like USPS is stuck on a sinking boat.
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Some people here have no choice but to use money orders and sometimes mail cash. And a lot of people here use USPS to mail products cheaply.
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Any ideas what this could do to bitcoin?
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A few cycles in the washing machine should remove traces of evidence.
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Sold all my mining equipment. Net profit is $600 over 1 month.
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OP is trying to overwhelm authorities so that the FBI will get off his ass.
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Bitcoin is over, it's stretched out like a 60 year old hooker. We can no longer mine a currency with flaws like network inefficiencies and security. We can start a new bitcoin network, migrate to namecoin or wait for the next iteration of Bitcoin. To save this market is like trying to put a cloud inside a cup.
There is no crash, and many new networks have already been started. We achieved parity with every national currency on the planet, and then people started playing gold-games with bitcoin instead of e-gold, so what, turns out even now we are still at or above parity with every national currency on the planet despite all the crap about crashes, meanwhile we also have umpteen other cryptocurrencies the gold-game players have not even jumped into yet though I guess we can expect them to start being subjected to this same kind of game-playing any time now. Luckily some of them actually had games in mind from the get-go though I suppose some people might consider it unfair that players who do not even have a planet one can reach with one's warpbattleships to nuke can effect the value of one's currency... -MarkM- Question is, how low can it go? |
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Bitcoin is over, it's stretched out like a 60 year old hooker. We can no longer mine a currency with flaws like network inefficiencies and security. We can start a new bitcoin network, migrate to namecoin or wait for the next iteration of Bitcoin. To save this market is like trying to put a cloud inside a cup.
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Looks like I was right on time. Price dropped rapidly.
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I sold all my bitcoins when it was $13. I made a profit of $600 but now it's not economical to mine anymore. I am selling all of my equipment(or refunding) for the amount I placed into the investment. This was a good run but bitcoin is falling apart on many fronts. I will keep 67btc in my wallet for now but im done.
Maybe I haven't understood anything yet, but to me it seemed that bitcoin was supposed to be a means of payment, an electronic form of money. You are treating it like it was an investment, some financial product that is somehow miraculously supposed to grow. Those two uses of money are actually incompatible. When money is used for payment, it needs to circulate. When it's used for investment, it needs to be fixed. Money can't do both at the same time. Exactly, I got into bitcoins only for the mining however. I had no intention to trade it like stocks. |
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I sold all my bitcoins when it was $13. I made a profit of $600 but now it's not economical to mine anymore. I am selling all of my equipment(or refunding) for the amount I placed into the investment. This was a good run but bitcoin is falling apart on many fronts. I will keep 67btc in my wallet for now but im done.
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Bitcoins are the same as gold. We may lose some of it(or hoard it) and that drives prices up as the supply in the market drops.
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