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Question: Is BitCoin the Black Swan of fiar currency?  (Voting closed: April 14, 2013, 01:47:44 PM)
Is BitCoin the same as a turnip bulb? - 0 (0%)
You casn't touch it, that makes it unreal! - 2 (100%)
Total Voters: 2

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Author Topic: Interesting opinions on BitCoin from a cutting edge, inside scoop financial blog  (Read 624 times)
dean ross
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April 09, 2013, 01:47:44 PM
 #1

See zerohedge.com for Interesting opinions on BitCoin.  The what ,where, why and longevity of it all!
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mcgin
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April 09, 2013, 02:01:32 PM
 #2

Can you post a link or the text of the article?
Tripmode
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April 09, 2013, 02:42:27 PM
 #3

Seems like pretty generic coverage ...

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dean ross
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April 09, 2013, 03:00:48 PM
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There is an article in NY Times (yesterdays) I have not read it.  But a friend has and finds it interesting.  He is bringing it over............
dean ross
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April 09, 2013, 03:06:23 PM
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Can you post a link or the text of the article?
  hhttp://www.zerohedge.com/news/2013-04-09/bitcoin-passes-200   There are other Interesting articles on this blog (schrool down)  Opinions are like assholes, everyone has one! 
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April 09, 2013, 03:07:53 PM
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Bitcoin has the capability to be a white swan.
dean ross
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April 09, 2013, 03:17:53 PM
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Bitcoin has the capability to be a white swan.
  But it is currently a black swan! Because so many folks don't know what the hell I'm talk'in about when I mention BitCoin.  A friend said to me, "it is a ponzi scheme" (I'm really tired of this response) then said, "your really are a risk-taker."  My response was, "no, I'm a early-adopter."  Only the future well tell where this thing goes....................
dooner4
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April 09, 2013, 03:19:52 PM
 #8

It clearly won't die within the next 10 years for the simple fact that its still going very strong now after the first major crash.

My current dream for Bitcoins/Litecoins is to open a music related business such as a venue or a recording studio.
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April 09, 2013, 03:22:20 PM
 #9

Bitcoin has the capability to be a white swan.
  But it is currently a black swan! Because so many folks don't know what the hell I'm talk'in about when I mention BitCoin.  A friend said to me, "it is a ponzi scheme" (I'm really tired of this response) then said, "your really are a risk-taker."  My response was, "no, I'm a early-adopter."  Only the future well tell where this thing goes....................

Fair enough. Also, in response to the OP, Fiat means by decree. No one decreed anything about bitcoin, people just naturally started to use it.
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April 09, 2013, 03:49:43 PM
 #10

I find it quite amazing, I think that Bitcoin is here to stay; This is a designed currency it has been built architecturally sound.
Even with the upcoming ASICs bitcoin was built for the people as a proof of concept... distributed rewards, just imagine what else will pop up with a distributed work for pay scheme.

The ASICs are only 5 fold more powerful than a top end GPU; The price ratio is the same as well. With the momentum that is occuring now GPU miners will be profitable even with a doubling of difficulty. GPUs outnumber ASICs it will be years before the market reaches the equal distribution of GPU power vs ASICs. I give it 2 years for ASIC market saturation plenty of time for the faithful to prepare.

Increasing interest means more people, more people means a higher mean price for Bitcoin. From the beginning Bitcoin was built to have an ever increasing value, that value increases with the number of economical transaction occuring in the realworld economy, hence people will make money no matter what.  Cpu immediately became obsolete because of the disparity between CPUs and GPUs, which is as of now 150 to 1; That magnitude change was enough to make them unprofitable... on a cost per watt basis, but if the ratio of GPUs to ASICs to CPUs was changed the prevalent hardware will always make money.

This bitcoin bubble that they are talking about... it's not a bubble, it's the way this currency was designed to operate. Once the market comes back down from the high of 220 Canadian, only the most intelligent, tech savvy, aware people will remain,  because they understand what bitcoin truly is... it is an Ideal to strive for. Markets working as 300 years of economics has stated... do not tamper with the market! allow inefficient businesses to die so they can be replaced by the strong efficient well managed companies that deserve a piece of the pie, do not touch the value of the currency, supply and demand will control the distribution of goods.  after this so called bubble bursts, a million more people will know what Bitcoin stands for.

if you understand the market, you will know that a strong resilient company(stock) stays strong relative to the rest of the economy and it pays to buy their stock while it's low... because it means you will have so much more when the market begins to grow again.

these are a few of the things I believe will happen, Bitcoin, if it fails will still bring the dawn of a new technology and way of life that will survive long after it is gone.

If you think my efforts are worth something; I'll keep on keeping on.
I don't believe in IQ, only in Determination.
digitalfog
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April 09, 2013, 03:56:06 PM
 #11

Quote

Fair enough. Also, in response to the OP, Fiat means by decree. No one decreed anything about bitcoin, people just naturally started to use it.

+1

btcminer021
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April 09, 2013, 04:02:00 PM
 #12

It clearly won't die within the next 10 years for the simple fact that its still going very strong now after the first major crash.

That's a terrible justification for your claim

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noob_jul11
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April 10, 2013, 02:28:54 PM
 #13

Again on zerohedge today http://www.zerohedge.com/news/2013-04-10/bitcoin-hits-new-record-crosses-250 at USD266/1btc
rothschild_666
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April 10, 2013, 03:38:59 PM
 #14

Fiat and value are not synonymous.  They are also not contrapositive.
TheBigYak
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April 10, 2013, 04:06:02 PM
 #15


Written like a true finance person.. interesting idea though, could you all see the Feds trying to blow it up?

BTC: 13kkN4G4jo2AYKap3jQ4jUAiM6qU2atXQ1 / LTC: LSU6ujXjUQBjLT3sRastBuYmmHKrEHeV8e
hrkristian
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April 10, 2013, 04:13:08 PM
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Written like a true finance person.. interesting idea though, could you all see the Feds trying to blow it up?
The moment it threatens the dollar, yes I believe they might, and with the backing of financial institutions.
Hell, even the BRICS countries might want to bring down the BitCoin.
noob_jul11
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April 10, 2013, 07:07:08 PM
 #17

And as quickly it rises, the quicker it falls ... 266/btc to now 120/btc
Imagine those that got in at $266 this morning and see their "investments" loses more than half its value in less than 24 hours! If that doesn't dampen the mood of btc, I don't know what will
jdbtracker
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April 11, 2013, 04:01:37 AM
 #18

Good! It means it's going to get easier to mine and the difficulty will drop!! time to get me some hardware!; and as soon as that price hits bottom, i'm buying the pieces for the next boom and bust cycle.  will I lose my shirt? na, once it gets to $40 it means i'll be able to start buying the bitcoins, the currency was designed to appreciate so, it is only a matter of time.

For the mean while I'll continue mining and spending my bitcoins that I create to support the bitcoin economy during this rough patch.

If you think my efforts are worth something; I'll keep on keeping on.
I don't believe in IQ, only in Determination.
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