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DrKennethNoisewater
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April 12, 2013, 05:23:17 PM
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The spewing heads on CNBC are comparing BTC to Beanie Babies.

Jesus McChrist........

LOL

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noedaRDH
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April 12, 2013, 05:25:41 PM
 #2

The spewing heads on CNBC are comparing BTC to Beanie Babies.

Jesus McChrist........

LOL



Was there any doubt that they would?

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April 12, 2013, 05:35:15 PM
 #3

Despite how you feel about it, the comparison is not that unreasonable. Unless a bitcoin can prove itself to be something more than just an object to hoard, it truly is nothing more than a Beanie Baby.

Buy bitcoins with cash from somebody near you: LocalBitcoins
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April 12, 2013, 05:37:43 PM
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Perhaps a Furby
13Charlie
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April 12, 2013, 05:39:11 PM
 #5

At least they have a Mt. Gox ticker on their site now.

http://data.cnbc.com/quotes/MTGOXUSD

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Mike Christ
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April 12, 2013, 05:53:57 PM
 #6

At least they have a Mt. Gox ticker on their site now.

http://data.cnbc.com/quotes/MTGOXUSD

That's bad news Undecided

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April 12, 2013, 06:04:41 PM
 #7

My problem with using mtgox (and trust me I know because their outage became my outage for all the visitors) that that by strengthening them to the point where we are allowing them to become the defacto 'central bank' for bitcoin.

I like campbx.com ... that's just my opinion..  I think all these "centralized concentrations' of bitcoins need to shrink in size, because if bitcoin was a country,  Mt.Gox is "too big to fail" .. .this is a bad situation.

I use the overall average bitcoin pricing....  and I believe they should too....  I know it's just my opinion... but I don't like the direction this is going.





 


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April 12, 2013, 06:05:42 PM
 #8

Despite how you feel about it, the comparison is not that unreasonable. Unless a bitcoin can prove itself to be something more than just an object to hoard, it truly is nothing more than a Beanie Baby.

I think it's proven that. Millions of dollars of business are being done every month in Bitcoin. And I'm talking about business, not just speculative day trading.
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April 12, 2013, 06:15:16 PM
 #9

Despite how you feel about it, the comparison is not that unreasonable. Unless a bitcoin can prove itself to be something more than just an object to hoard, it truly is nothing more than a Beanie Baby.

BTC's are MUCH more fun to cuddle with!
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April 12, 2013, 06:15:23 PM
 #10

My problem with using mtgox (and trust me I know because their outage became my outage for all the visitors) that that by strengthening them to the point where we are allowing them to become the defacto 'central bank' for bitcoin.

I like campbx.com ... that's just my opinion..  I think all these "centralized concentrations' of bitcoins need to shrink in size, because if bitcoin was a country,  Mt.Gox is "too big to fail" .. .this is a bad situation.

I use the overall average bitcoin pricing....  and I believe they should too....  I know it's just my opinion... but I don't like the direction this is going.


I agree, let's start telling EVERYONE to use another exchange.

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April 12, 2013, 06:17:21 PM
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I think it's proven that. Millions of dollars of business are being done every month in Bitcoin. And I'm talking about business, not just speculative day trading.

Oh my god, a celebrity!  Grin

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April 12, 2013, 07:14:12 PM
 #12

CNBC transcripts for those interested

What was said at 13:20 EST:
Quote
>> WELCOME BACK.
WE ARE BACK.
BIG COIN IN A BIT OF A MESS. SPARKING A RUSH OF ACTIVITY AND  OVERWHELMING TRADING PLATFORMS.
IT'S A VIRTUAL CURRENCY.
IT DOES HAVE A LOGO. IF YOU WANT TO BUY THEM YOU DO  SO ONLINE AT WEBSITES WHERE YOU  PUT IN YOUR ACCOUNT NUMBERS AND  THE AMOUNT OF BITCOINS THAT YOU
  WANT TO BUY.
THEY HAVE BEEN AROUND FOR FOUR  YEARS BUT THE NEW YORK LOUNGE  JUST STARTED ACCEPTING THE  DIGITAL CURRENCY LAST WEEK. .
>> IT'S IRREVERSIBLE.
THEY ARE INSTANT.
THEY ARE PRIVATE.
THE FEE IS LESS THAN 1% TO  ACCEPT IT. AND THEY GET THEIR MONEY THE  NEXT DAY IN THEIR BANK ACCOUNT. .
>> THE TAB IN DOLLARS, IS PUT  TOGETHER.
AND BIT PAY TAKES THE COINS FROM THE WALLET AND SENDS DOLLARS TO  THE BAR.
BUT THE PROBLEM IS THAT IT TAKES A LOT MORE TO BUY A BEER TODAY  THAN IT DID YESTERDAY, LAST  NIGHT IT WAS DOWN 77% SINCE  WEDNESDAY.
RECENT GAINS LO FROM YEAR PEENS  LOOKING TO STASH CASH.
ITS VOLATILITY CASTING DOUBTS ON RESPONSIBILITY TO REPLACE  DOLLARS AND CENTS.
WHERE ONE MOVES IS CAUSE FOR  ALARM SOMETIMES.
REPORTEDLY THEY OWNED ABOUT $11  MILLION!!$$!!!!!!!!!!!! MILLION.
THEY WERE CREATED AS AN  UNIDENTIFIED HUMAN PURN.
THERE ARE ONLY 21 MILLION --  ONLY SUPPOSED TO BE 21 MILLION  BITCOINS, 11 MILLION IN  CIRCULATION PRESENTLY.
IT IS VERY APPEALING TO FREE  MARKET ADVOCATES AND IT SEEMS IT IS APPEALING TO SPECULATORS AS  WELL THESE DAYS.  .
>> THANK YOU SO MUCH.
SUCH AN INTERESTING STORY.
WHAT DO YOU GUYS THINK ABOUT  THAT? .
>> TWO KEY POINTS.
ONE IS THE UNDERPINNING MAKES  SOME SENSE.
WE HAVE HAD INCREDIBLE  DEVALUATION OVER TIME BECAUSE  YOU HAVE GOVERNMENT ISSUING  MORE.
POLITICIANS WANT TO GET  RE-ELECTED.
THERE ARE A LOT OF ADVANTAGES TO IT. AND THEN YOU HAVE THIS BUBBLE  ASPECT. .
>> WHAT DID YOU SAY?
DID YOU LIKE IT? .
>> IT'S PERFECT FOR A BUBBLE  BECAUSE YOU CANNOT VALUE IT. IT IS SIMPLY DETERMINED BY  SUPPLY AND DEMAND.
I CAN MAKE AN ARGUMENT THAT IT'S WORTHLESS. .
>> YOU JUST DON'T KNOW. .
>> YOUR LOSS IS 100%.
YOUR GAIN IS INFINITY, I  PRESUME. .
>> IT'S BEANIE BABIES FOR 2013.
THERE WAS THE GREATER FOOL  THEORY, SOMEONE ELSE WILL PAY  MORE.
THEY WANT THINGS THEY CAN TOUCH  OR FEEL.
I DON'T SEE THIS BEING A REAL  INVESTMENT.
IT IS ACTUALLY A NEGATIVE.  .
>> YOU CAN'T USE BEANIE BABIES  TO BUY THINGS.
AND BITCOINS.  .
>> THIS TOTALLY REMINDS ME OF  BACK IN THE 90s WHEN WE THREW  ALL FUNDAMENTALS OUT THE WIP  DOE.%,, .
>> IT SEEMS TO ME LIKE A SUPER  MARIO GAME WHERE YOU GO AROUND  AND COLLECT THE COINS. .
>> I HAVE BEEN GLORIOUSLY  UNINFORMED ABOUT THIS AND NOW  WE'RE TALKING ABOUT IT ON  TELEVISION.  .
>> I DON'T WANT A VIRTUAL  WALLET. .
>> I WOULD LIKE TO THINK MY BANK IS SAFER THAN HAVING MONEY IN  BITCOINS.
DO YOU WANT TO BE PAID IF  BITCOINS? .
>> WHICH MEANS GREATER FOOL IN  JAPANESE.  .
>> THE BILLIONAIRES.
ARE THEIR LUCKY OR REALLY  SMARTER THAN THE REST OF US.  .


What was just said at 14:48 EST
Quote
IF YOU DIDN'T BITE AT THE  BITCOIN CRAZE YOU MAY HAVE SAVED YOURSELF SOME MONEY.
WHAT WAS THAT WITH THE FLASH  CRASH? .
>> BITCOIN'S VALUE PLUMMETING TO A LOW -- SHE SAID 54.25 EACH  OVERNIGHT, A STUNNING 77%  DECLINE.
BITCOIN STILL MAKING MONEY FOR  INVESTORS WHO GET ITS RECENT  RISE FUELLED BY DEMAND AND THE  COMMODITY IS WHAT A LOT OF  PEOPLE LIKEN IT TO. WITH ONL
Y $11 MILLION IN  CIRCULATION, VALUE DETERMINED BY PEER TO PEER TRANSACTIONS WITH  NO INTERVENTION FROM A  GOVERNMENT OR CENTRAL BANK.
THAT IS A GREAT PART OF BIT  KOINT'S APPEAL.
THERE ARE NO DAMMING RECEIPTS  THEY MIGHT WANT TO COOP FROM A  SPOUSE OR SIGNIFICANT OTHER. .
>> I THINK IT'S REFRESHING FOR A LOT OF CONSUMERS TO BE ABLE TO  SPEND MONEY WITHOUT EVERYONE  ELSE BEING IN ON THEIR BUSINESS. .
>> THAT ATTRACTED A CERTAIN USER TO BITCOIN.
ONLINE PORN AND GAMBLING HAVE  BEEN FERTILE GROUND FOR BITCOIN  TRANSACTIONS.  .
>> IT IS INTERESTING THAT ANGLE.
IT GIVES THE SUGGESTION THAT  MAYBE IT'S A LITTLE SHADY? .
>> IF I HAD I HAD A BITCOIN AND I WAS  PAYING YOU IN BITCOINS, THEY  COULD BASICALLY LOOK AT OUR  ACCOUNT NUMBERS, BUT IT HAS  NOTHING TO DO WITH OUR
IDENTITY.
SO YOU CAN BUY THINGS, AGAIN,  WITH NO ONE KNOWING. .
>> WE DON'T EVEN KNOW WHO  INVENTED THIS, RIGHT? .
>> NO, WE DON'T. .
>> THERE ARE SOME RUMORS THAT  IT'S THIS JAPANESE NAME.
YOU'RE LITERALLY PUTTING ON TO  REAL MONEY ON TO A SYSTEM THAT  WE DON'T EVEN KNOW WHO CREATED  IT. .
>> IT'S KIND OF AN AMAZING  STORY. .
>> AND IT'S ONE THAT'S GOING TO  MERIT ANOTHER SEGMENT.
LET'S BRING IN THE ATLANTIC'S  DEREK THOMPSON.
ALL RIGHT, DEREK, YOU SAY THIS  IS NOT A CURRENCY, IT'S MORE  LIKE A DOT-COM STOCK.
AND I AGREE WITH YOU, BUT A LOT  OF PEOPLE BELIEVE -- I SAW A GUY JUST BOUGHT A CAR, $38,000 USED  PORSCHE, USING BITCOINS.
PEOPLE ARE TAKING THIS FOR REAL, MY FRIEND. .
>> RIGHT, IT CERTAINLY CALLS  ITSELF A CURRENCY AND SOME  PEOPLE CONSIDER IT A CURRENCY,  BUT IT'S NOT A VERY GOOD  CURRENCY.
SO WHAT DOES MAKE A GOOD  CURRENCY?
A GOOD CURRENCY IS SOMETHING YOU CAN USE AND EXCHANGE FOR GOODS  AND SERVICES, WHOSE VALUE YOU  CAN TRUST.
BECAUSE IT DOESN'T CHANGE THAT  MUCH OVER THE TIME.
IF I BUY A SANDWICH TODAY FOR $5 AND I GET ON THE PLANE AND I FLY AND SIX HOURS LATER AND I'M IN  LOS ANGELES, I SHOULD MORE OR  LESS EXPECT THAT $5 S
HOULD BUY  THE SAME SANDWICH.
IT SHOULDN'T BUY AN INCREDIBLY  EXTENSIVE STEAK OR ONLY A TENTH  OF A SANDWICH.
I SHOULD HAVE A CERTAIN  EXPECTATION THAT IT SHOULD BUY  THE SAME AMOUNT HOUR TO HOUR.
AND BITCOIN CERTAINLY DOESN'T.
THE STOCK QUADRUPLED IN A MATTER OF DAYS AND THEN AGAIN A WEEK  LATER, AND NOW IT'S FALLEN 75%  IN JUST A FEW DAYS AS WELL.
THERE'S NO TRUST NOR TERMS OF  THE VALUE.
IT'S BEHAVING MUCH MORE LIKE A  SHOCK THAT WE ENJOY WATCHING THE GYRATIONS OF, BUT NOT REALLY A  CURRENCY WE CAN TRUST ON ITS  VALUE HOUR TO HOUR. .
>> IT KIND OF FEELS LIKE A DPAM!!$$!!!!!! GAMBLE AND A SPECULATIVE STOCK.
SO WHY ARE PEOPLE, AND NOT JUST  EVERYDAY PEOPLE, BUT BIG  INVESTORS, WHY ARE THEY STARTING TO GET ON BOARD WITH THIS? .
>> I THINK THERE ARE TWO  REASONS.
I THINK THERE'S A GOOD REASON  AND A BAD REASON.
WHEN YOU HAVE A STABLE SUPPLY OF CURRENCY AND THERE ARE MORE  THINGS THAT THAT CURRENCY CAN  BUY, THE VALUE SHOULD GO UP. SO THE MAINSTREAMING OF BITC
OINS ON THE INTERNET, I THINK, HAS  HELPED ITS VALUE AND MAYBE  BROUGHT IT FROM $1 TO $10 OR $10 TO $30. BUT WHEN YOU SEE IT EXPLODING TO 250, $260 AN
D THEN FALLING AGAIN TO $75, YOU REALIZE THIS IS  REALLY A SPECULATIVE EXERCISE.
THIS IS A SITUATION WHERE PEOPLE SEE LIKE A STOCK PRICE RISING  AND THEY WANT TO GET IN THE GAME SO THEY CAN, YOU KNOW, FEEL THAT VALUATION. .
>> DEREK, IT'S ALMOST LIKE IF  YOU PUT MONEY IN PAYPAL AND THE  NEXT MONEY YOU HAD HALF AGAIN AS MUCH AS YOU PUT IN.
I FIND THAT TO BE VERY DIFFICULT TO UNDERSTAND, WHY PEOPLE WOULD  WANT TO DO THAT. .
>> EXACTLY.
WE HAD A WRITER, MATT O'BRIEN,  WHO WROTE A PIECE BASICALLY  SAYING, THIS ISN'T A CURRENCY,  IT'S A TECH STOCK.
BUT IS IT PETS.COM OR PAYPAL?
AND IN ADDITION TO BEING CLEVER  BECAUSE IT WAS ILL LIT!!$$!!!!WRITTIVE.
WHEN YOU TRANSFER MONEY FROM  PAYPAL, THE FRIEND HAS THE  EXPECTATION THE TRANSFER WILL BE $100.
BUT A PETS.COM KIND OF STOCK,  WHERE YOU INVEST ONE DAY AND  LOOK AT YOUR PORTFOLIO ONE MONTH LATER AND YOU REALIZE YOU'VE  EITHER LOST 50% OR GAINED
200%,  THIS ISN'T A CURRENCY. THIS ISN'T SOMETHING THAT  PEOPLE, IN THE REAL WORLD WILL  WANT TO BUY, WILL WANT TO USE AS A MEANS OF EXCHANGE. .
>> YOU KNOW, IT'S VERY EASY TO  BE CYNICAL, BUT IF YOU TAKE THE  WINKLEVOSS TWINS, WHO HAVE ONE  OF THE LARGEST BITCOIN  PORTFOLIOS OUT THERE, THEY SA
Y  THIS IS JUST TEETHING PAINS.
THIS IS WHAT HAPPENS WHEN YOU'VE GOT LIKE THE NASCENTS OF A  CURRENCY OR ANYTHING ELSE, IT'S  GOING TO GO THROUGH A BIT OF A  BUMPY PATCH.
IS THERE ANY CRED TO THAT? .
>> SURE, THERE MIGHT BE CRED TO  THAT.
I CAN'T PREDICT THE FUTURE, AND  IT'S CERTAINLY POSSIBLE THIS  COULD TURN OUT TO BE A CURRENCY  WHOSE VALUE STABILIZES AND  PEOPLE REALLY USE.
ONE THING WE'VE SEEN AROUND THE  WORLD IS THAT ALTERNATIVE  CURRENCIES CAN EXIST AND CAN  THRIVE.
THERE'S THE ITHACA DOLLARS THAT  EXIST IN NEW YORK, WHERE IF I  MOW SOMEBODY'S LAWN, I CAN USE  THAT HOUR TO BUY SOMEBODY ELSE'S HOUR.
THERE'S THINGS WHERE THEY WANTED AN TARIFF CURRENCY TO HELP  CREATE INCENTIVES TO HELP PEOPLE CARE FOR THEIR ELDERLY ONES.
THAT'S BEEN ANOTHER ALTERNATIVE  SUCCESSFUL CURRENCY.
IT REMAINS THE TO BE SEEN  WHETHER BITCOINS CAN JOIN THE  RANKS OF THESE ALTERNATIVE  CURRENCIES THAT HAVE THRIVED  OVER THE LAST FEW YEARS.
BUT RIGHT NOW, IT'S BEHAVING  LIKE A TECH STOCK. .
>> INDEED, DID NOTHING ALL YEAR, ABSOLUTELY NOTHING IF YOU LOOK  AT THE CHATTER, AND NOW, WHOOF,  UP IT GOES LIKE TULIPS IN THE  1600s. .
>> I'M FULLY INVESTED IN OLD  PEOPLE CARE STOCKS IN JAPAN. .
>> OR FUNERAL OPERATORS.
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April 12, 2013, 07:18:01 PM
 #13

Quote
THEY WERE CREATED AS AN  UNIDENTIFIED HUMAN PURN.

   Cheesy
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