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  1. #1
    Senior Member alpha1's Avatar
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    Do you own any Bitcoin?

    I have a very small amount, but I've seen huge growth this last week and it's nearly doubled in value for me.

    Me and my friend Bob sit down and record a video discussing Bitcoin. Bob has a few whole coins. Do you own any?


  2. #2
    Senior Member Dmb5450's Avatar
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    Re: Do you own any Bitcoin?

    Yup along with ethereum and litecoin. These all have been very nice to me. Iím hoping the value tanks during the segwit2 in about a week, if so Iím buying a lot more bitcoin!


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  3. #3
    Senior Member alpha1's Avatar
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    Re: Do you own any Bitcoin?

    Quote Originally Posted by Dmb5450 View Post
    Yup along with ethereum and litecoin. These all have been very nice to me. Iím hoping the value tanks during the segwit2 in about a week, if so Iím buying a lot more bitcoin!


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    Sounds great! Iím pleased youíre also into it just as much as I am.

    I also have a small amount of money in litecoin and ethereum too

  4. #4
    Senior Member Dmb5450's Avatar
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    Re: Do you own any Bitcoin?

    I love the cryptocurrency movement I think itís going to take off. I read somewhere that people that have been make predictions and have been pretty spot on said bitcoin can go to 500k each. A year ago I saw predictions that 8-10k by the end of 2017. Looks like it is spot on again!


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  5. #5
    Senior Member custmsprty's Avatar
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    Re: Do you own any Bitcoin?

    Bitcoin drops $1,000 dollars in 48 hours
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  7. #6
    Senior Member Dmb5450's Avatar
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    Re: Do you own any Bitcoin?

    Yup, great news for buying! I think itís going down to 3000-4000 by the 14 or 15th then will break 8k by thanksgiving!


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  8. #7
    Senior Member custmsprty's Avatar
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    Re: Do you own any Bitcoin?

    I'm predicting when the US Government gets done regulating crypto currencies in the not so distant future they will be illegal for US citizens to own. Only time will tell. Remember, their was a time when it was illegal for us to own gold bullion.

    To quote:

    Yes, in this country, from 1933 to 1974 it was illegal for U.S. citizens to own gold in the form of gold bullion, without a special license. On January 1, 1975, these restrictions were lifted and gold can now be freely held in the U. S. without any licensing or restrictions of any kind.
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  9. #8
    Senior Member Dmb5450's Avatar
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    Do you own any Bitcoin?

    Quote Originally Posted by custmsprty View Post
    I'm predicting when the US Government gets done regulating crypto currencies in the not so distant future they will be illegal for US citizens to own. Only time will tell. Remember, their was a time when it was illegal for us to own gold bullion.

    To quote:

    Yes, in this country, from 1933 to 1974 it was illegal for U.S. citizens to own gold in the form of gold bullion, without a special license. On January 1, 1975, these restrictions were lifted and gold can now be freely held in the U. S. without any licensing or restrictions of any kind.
    I donít see gold bullion and cryptos being comparable. I believe the reason for the gold ban was out of perceived necessity. During the great depression people pulled their gold out of banks. At that time 40% of the printed money had to be backed by bullion, if people held their gold the government couldnít print money and saw this as a state of emergency. FDR enacted this ban to help the nation ( I believe thatís how everything played out) if the government today tried to ban gold, they better have a darn good reason. Since bitcoin is decentralized it isnít backed by anything no inflation or deflation will occur. If the government tries to ban cryptos it canít be for any logical reason other than fear and greed. The few smart people in America will see right through this.

    You are correct, they will mess with cryptos, but they better be careful. With the 10000000 bigger issues we have making bitcoin a priority will show the governments true fear. This will make it very clear that the government has little faith in their corrupt fiat currency and clear that they know that people are getting wise to the scam they run. I would then expect the fiat stocks to fall as a result, this would impact world wide. News of the US government trying to defend their monetary system against bitcoin would be laughable. So the government needs to tread carefully.

    Also, I think some legal issues would arise. The government has sold confiscated bitcoin to the US people in auctions. If they ban an item they sold publicity only a few years prior people are going to go nuts, again proving how little confidence they have in their own fiat system.

    Bitcoins are sold in physical locations and taxed as much as 20%, how do you justify allowing the selling of a product then making it illegal? The government tries that with alcohol during prohibition, we all know that worked out really well. While I know the government can do these things, they make heroin illegal but that doesnít stop heroin from existing. The government cannot delete bitcoin, it will always be here. With bitcoin being stored by a code on an external device I have no idea how they will know who has bit coin and how much. Bitcoin is constantly being created, they canít stop this from happening the block chain is ever expanding its decentralized.

    End rant


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  10. #9
    Senior Member Dmb5450's Avatar
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    Re: Do you own any Bitcoin?

    Forgot to post this...
    https://www.bloomberg.com/news/artic...-banks-want-in

    Banks know if you canít beat em, join em.


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  11. #10
    Senior Member custmsprty's Avatar
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    Re: Do you own any Bitcoin?

    Quote Originally Posted by Dmb5450 View Post
    Forgot to post this...
    https://www.bloomberg.com/news/artic...-banks-want-in

    Banks know if you can’t beat em, join em.


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    Are any of those the same banks that led to the financial crisis of 2007-2008? Are any of those hedge funds etc? As for me, I'd hardly use the banks of an example of financial fiscal responsibilty after the US taxpayers had to bail them out before.

    Honestly, I didn't take the time to read your last post because here's the deal, US Government will ban it for national security reasons. Because it's a "crypto currency". It can be used to fund terrorism and that is how it will be persued. Executive action. Bam, done, overnight.
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