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1  Other / Beginners & Help / Re: Will Bitcoin stay the Leader? on: December 07, 2013, 09:23:56 AM
If all Crypto Currencies are fairly similar and Bitcoin gets too high in price,  won't people just trade it in for the lower priced ones?   It seems like more stores will accept the lower priced currencies too.  I'm just trying to get a grasp on things and to see what other advantages bitcoin has - besides being first in the market. 
They can be exchanged so freely on cryptsy it almost doesn't even matter which is the "leader." But for the most part I think Bitcoin being the template and the one with the most fiat/cryptocurrency exchanges puts it way out ahead and the gold standard for the forseeable future. The main point of Litecoin for many is using the favorable BTC exchange rate when mining; I haven't seen a lot of places taking Litecoin payments...
2  Other / Beginners & Help / Re: Bitcoin and worthless fiat money - really puzzled on: December 07, 2013, 08:26:11 AM
The government cannot simply "print money" and even if they did the rate of their dollar would simply going down, meaning they have the same money as before. With this being said, it is very unlikely that the government would dedicate that amount of money to Bitcoins.

You really have no idea how anything works do you?

Do you? What we call "printing money" is the issuing of Treasury Bonds that bear interest as a temporary loan to pay for budget items that the country is bound by law to pay for, but for which it can not cover the expense through tax revenue. So unless Congress mandates that the Federal Government owns all the BTC in the world, no, they are not going to issue bonds, or "print money" to buy BTC. I can hardly think of a more dangerous speculative bet they could make with America's money; there would be well-deserved public outrage at adding to our defecit by large pruchases of crypto-currency. I don't think people realize how volatile and dangerous Bitcoin is to investors; trading BTC requires day-trader level stress management, I don't even think the people doing credit default swaps would feel good about the amount of risk in this market right now. The government wouldn't touch it with a 10 foot pole.
3  Other / Beginners & Help / Re: Will Bitcoin Reach $10,000 One Day? on: December 07, 2013, 08:13:35 AM
i think it will reach $10k and beyond, but this rally is over!! Undecided
Time to buy! Jeez, y'all should be happy when the price is low in a volatile market.
4  Economy / Scam Accusations / Re: Butterflylabs Huge SCAM on: December 07, 2013, 08:03:40 AM
Butter Fly Labs apparently filled the orders of FPGA's and it would sertainly not take long for stupid people to invest more into real expensive units arriving in March?, and it would certainly be a good business too extensively fill the first order, and not too fill the order of second delivery that started in November, this really stinks, but I really must say they can deliver, but it's real risky if they apparently get orders of 30M or apparently more, and then decide to not fill the request of orders, profit would be high enough to drive price of Bitcoin up or real much down, even for orders not filled it would take Bitcoin to go sky high in value, cause difficulty would not be stateable higher the first months when people should actually get the shipment.

So be aware that March would be an special speculative month for Bitcoin. It will raise or fall dramaticly in value if orders are fullfilled or not.
Actually I think that difficulty in mining is all that would be affected if the mining system were flooded with multi-TH/s machines. The price of BTC is just a function of what a willing buyer of BTC will pay on a fiat exchange.
5  Economy / Exchanges / Re: Stay away from Coinbase on: December 07, 2013, 07:44:44 AM
I've had good luck dealing with Coinbase but I do worry if I try to sell when their's a run on BTC or an (even temporary) 'crash' - will they be able to deliver?
Or will they do something ludicrous like 'due to heavy volume we are suspending selling your BTC' sort of thing..
But then again there seems to be no guarantee on this anywhere..

Maybe the best bet is to have many accounts in many exchanges where you can sell small amounts of your btc at a moment's notice?
If this really happened, couldn't you just instantly transfer your BTC to another exchange and try it there? Bitcoins are fast/mobile, they aren't stuck in limbo forever like cash in ACH transactions.
6  Other / Beginners & Help / Re: Massive Sell Off- Crash or Correction? on: December 07, 2013, 07:19:28 AM
It's a correction and a good time to buy. Just watch for a meaningful uptick and jump back in. It would only be a crash if you really believe the future of Bitcoin is dismal, but I believe digital currency is here to stay, and Bitcoin is the gold standard of it.
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