I really don't know why? I mean will we ever see $800 again... I doubt it for some reason
Give it time. Geez. What, you think Bitcoin is some get-rich-quick scheme?
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I don't usually respond to trolls but since you're a senior member, I'll just say, ok, thanks but no thanks, good riddance,and we won't miss you. Now if you'll excuse me, I have some bitcoin buying to do while it's at sub $400
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The fact that something that is digital that can't be duplicated or copied without leaving another copy is amazing enough. Maybe bitcoin can lead to the discovery of teleportation, who knows
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250 won't do you much in bitcoin, but if you're curious about it and want to have first hand experience of it, now is certainly the better time to buy some. you don't necessarily have to buy all of $250, you can just buy $50,100,150 whatever cause like I said, even all of $250 won't do much, if indeed Bitcoin takes off.
IF you fancy gambling a bit however, you could use that $250 to get a miner, solo mine on it and hope that you chanced upon a block, that will straightaway give you 25btc. It's not guaranteed, but it can happen (I myself have found 2 blocks on my humble S1 but I'm on a pool)
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The keyword here is BUY. Do whatever you need to, but just buy, and hold
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Could be ASICMiner shuffling around some of their mining income or the income from sales of their miners... 23k BTC seems a lot, but is a reasonable number for a large company in the Bitcoin space!
Early adopters easily could have tens of thousands of bitcoins if they have stuck to it and held. But I think most of them are kicking themselves right now for getting rid of them, like the guy who bought two pizzas for 10k btc
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even without the Ban, people here in Bangladesh is pretty restricted in terms of using Bitcoin. Because we don't have any local trading system to accept bitcoin. So what the hell should I do with my bitcoin in Bangladesh. ![Angry](https://bitcointalk.org/Smileys/default/angry.gif) Keep it. Use it online. Use it when you're out of country. But if you're really desperate and don't know what the hell you should do with your bitcoins, you can send them to my address below and you need not have to worry about it anymore
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What's funny is these bear trolls have got it all wrong...bulls are actually ecstatic that price are getting lower. Financial 101: You buy when price is falling, you sell when price is rising. Laughing so hard at the bear trolls who are oh so 'concerned' about strangers losing their money haha gimme a break pls
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Why ripple? Must be in on the american market
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I don't think I can keep track of that much btc tbh.
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Bitcoin has no demand, it has no value other than its tradable market, no one has an urge to buy it, no one needs it and less and less people want it every day.
Utter falsehood. Bitcoin has ridiculous demand as recently shown by the purchase of the silk road coins, and is growing, its base value is the cost to produce it and that is rising as difficulty gets harder and harder, people do have the urge to buy (I know I have), people who needs to transfer large sums of money internationally needs it, and more and more people want it (I know I do) as adoption grows. Bitcoin may not go up as much as it's spreading.
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Well they can try to avoid, downplay or even denounce Bitcoin, but you can't stop evolution. Money is evolving, fiat is controlled, losing value, and can be created on a whim. Would you trust something can be infinitely created out of thin air? I don't.
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Bitcoin is exactly that, a currency that can only increase in value in the future. It's deflationary. We'll see.
So you've obviously put everything you can into buying Bitcoins. No? Why, if it can only increase in value? Could it be value deflation isn't assured, after all? So maybe it makes sense to spend BTC when you want to buy something? Only what I can afford to(be realistic). But I'm one of those hodlers who would hold for 10-20 years. To me it's of no question whether the price will rise or not. I'm only concerned of getting as much btc as I can while I can afford to.
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This is what I love about Bitcoin. You can see everyone's account publicly ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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based on rarity there are only: 175,000,000,000 grams of gold on earth (175k tonnes gold) based on rarity there are only: 2,100,000,000,000,000 satoshi's of bitcoin on earth (2100 trillion sats)
making 1 gram of gold worth 12000 satoshi or making 1 ounce of gold worth 340194 satoshi
so there is your 'peg': 0.00012000btc = 1 gram of gold or so there is your 'peg': 0.00340194btc = 1 ounce of gold
6,173,000,000 ounces of gold in the world so there is your 'peg': 1btc = 293.95 ounces
and for fiat lovers 1ounce=$1215 so there is your 'peg':1btc = $357152.14 based on a gold peg standard
Again, we run into the $1million per Bitcoin in about 10 years idea. I hope there is something to it because I will retire at the point that looks likely. I've always dreamt about digital currencies ever since I realized that each and every aspect of our lives will eventually become digital. But knowing digital, everything in binaries can be an exact lossless copy, I started to wonder how can currencies be digital, where exact same copies can be made. Along came Bitcoin. And the fact that Bitcoin was concepted to be limited, that totally changes the way we think about currencies. If you know, that that one dollar you spend will become so much more in the future, will you spend it? See, we've become so used to spending inflationary currencies, that the dollar we have now is going to worth less in the future so we spend it, how about the dollar that will increase its value in the future? Bitcoin is exactly that, a currency that can only increase in value in the future. It's deflationary. We'll see.
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based on rarity there are only: 175,000,000,000 grams of gold on earth (175k tonnes gold) based on rarity there are only: 2,100,000,000,000,000 satoshi's of bitcoin on earth (2100 trillion sats)
making 1 gram of gold worth 12000 satoshi or making 1 ounce of gold worth 340194 satoshi
so there is your 'peg': 0.00012000btc = 1 gram of gold or so there is your 'peg': 0.00340194btc = 1 ounce of gold
6,173,000,000 ounces of gold in the world so there is your 'peg': 1btc = 293.95 ounces
and for fiat lovers 1ounce=$1215 so there is your 'peg':1btc = $357152.14 based on a gold peg standard
Thank you franky1 for making the effort to do the maths. Indeed bitcoins are severely undervalued at the moment.
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franky1, thanks for contributing to my post.
Honestly, I think Bitcoin is the most evolutionary invention that I have encountered in my lifetime. I was not convinced at all that digital money can exist, as in'pure' digital money, that which cannot be copied or duplicated or double-spended, until I found out about Bitcoin and its public ledger solution. So now we have cryptocurrencies, which is odd cause I'd never imagined cryptography to be the core and the basis for digital currency but nevertheless, it happened to be realized so I'll just have to go with that. Perhaps there can be other basis for digital currency but at the end of the day what we have now is cryptos, and they work(so far), so might as well go with it.
I'm convinced that sooner or later, there must be an evolution of physical currencies to digital currencies. That I'm sure of. But as to what basis should digital currencies be, that I'm not so sure. Cryptography-based currencies involves the computational power of the fastest highest available CPU with lots of electricity consumption to decrypt and to solve the encryption in order to produce newly minted coins so to speak, and I'm not sure if that's the best, most efficient solution to create a currency IMO
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In Indonesia recently a few bitcoin enthusiasts managed to convert one of the islands there to be Bitcoin Island, where everything can be paid with bitcoins. It bodes extremely well with tourism there. Hope to see Hawaii being fully Bitcoin friendly in the future
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DannyHamilton, thanks for contributing to my post. You spelt ridiculous wrong btw
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So that's why we have such cheap coins.....BFL dumping their coins to recoup whatever they can.
Huh, really? Its more like alibaba ipo cause the panic I'm inclined to think it's the miners that are trying to recuperate their losses, hence they're just selling, no matter what the price, to pay for the expenses and overheads or in BFL's case, their bankruptcy. I knew anytime there's sub $400 coins, someone's really desperate
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