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  1. #41
    Senior Member Cruzscarwash's Avatar
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    Re: Do you own any Bitcoin?

    Quote Originally Posted by custmsprty View Post
    Get back to me when Wells Fargo, Bank of America, US Bank and the rest of the big banks start taking bitcoin for payment on realestate sales, not some one off sale.

    And wait until Uncle Sam starts regulating it. The IRS will want their fair share of the profits.

    Like I said, it's great for speculators and you can defend it all you want. It's your money.
    I see you viewpoint but also see you are not caught up with what's happening with it either, some that you named are on board and it's about to join the ranks of the stock exchange later this month

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  2. #42
    Senior Member custmsprty's Avatar
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    Re: Do you own any Bitcoin?

    Quote Originally Posted by Cruzscarwash View Post
    I see you viewpoint but also see you are not caught up with what's happening with it either, some that you named are on board and it's about to join the ranks of the stock exchange later this month

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    I work form home and have CNBC on all day, I'm very well caught up with all that. It changes nothing for me.

    Whenever there is money to be made there will always be a company or somene to perpetuate it, so if the CME wants to do that more power to them.

    "There are obviously a couple of distinctions you might want to draw here. Bitcoin futures aren't the same thing as bitcoin, and facilitating trades isn't the same thing as trading."
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  3. #43
    Senior Member Cruzscarwash's Avatar
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    Re: Do you own any Bitcoin?

    Quote Originally Posted by custmsprty View Post
    I work form home and have CNBC on all day, I'm very well caught up with all that. It changes nothing for me.

    Whenever there is money to be made there will always be a company or somene to perpetuate it, so if the CME wants to do that more power to them.

    "There are obviously a couple of distinctions you might want to draw here. Bitcoin futures aren't the same thing as bitcoin, and facilitating trades isn't the same thing as trading."
    True but it shows at least to me that there is belief in the system and that it has even more potential to make money for us all

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  4. #44
    Senior Member Dmb5450's Avatar
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    Re: Do you own any Bitcoin?

    Quote Originally Posted by custmsprty View Post

    It'll never be used as real from of currency. Think of it this way. If you have a $100 benjamin today and wake up tomorrow and it's deflated to $50.00 what are you going to do. Why would a car dealership take a bitcoin payment worth $13,000 today and tomrrow it's lost 10-15, 20% of it's value? Why would any legitmate busiess risk the volatility of it for taking payments. Delta Airlines? Yeah, they could go bankrupt when bitcoin loses 50% of it's value. What goes up must come down. This is a bubble and all the people who missed out are driving the price up. Sooner or later they will want to cash in for real currency, then, wham, it'll crash and fast.
    Bitcoin is already being used in very legitimate business, a simple google search shows this. Also people have bought cars with bitcoin, Tesla and Lamborghini have sold cars with bitcoin. It really doesn’t matter if someone pays with bitcoin, you simply sell the coins for the money. In the example of Tesla, it sold for 91.4 bitcoin, it was then simply converted into cash. If the business wants to hold the coin for the risk that’s on them, if they want the money now they simply sell the coin.

    To say it will never be a valid form of currency is just not true.

    Bitcoin will launched to nasdaq soon...

    https://www.google.com/amp/s/www.cnb...cials-say.html


    I can even donate to save the children with bitcoin...

    http://www.savethechildren.org/site/...ys_to_Help.htm





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  5. #45
    Senior Member BudgetPlan1's Avatar
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    Re: Do you own any Bitcoin?

    Quote Originally Posted by Cruzscarwash View Post
    True but it shows at least to me that there is belief in the system
    Really don't know anything about it and neither do 7.59 billion other people in the world...and that'll be the problem. May be a niche currency but that'll be about it methinks.

    What you do have going for you is the very fact that I choose not to get involved with Bitcoins...because I generally make the wrong choice.

  6. #46
    Senior Member Cruzscarwash's Avatar
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    Re: Do you own any Bitcoin?

    Quote Originally Posted by BudgetPlan1 View Post
    Really don't know anything about it and neither do 7.59 billion other people in the world...and that'll be the problem. May be a niche currency but that'll be about it methinks.

    What you do have going for you is the very fact that I choose not to get involved with Bitcoins...because I generally make the wrong choice.
    While I know Bitcoin is different is like anything else . No one say Amazon being what it is today, or Google, or Facebook etc. They all started as a '?"it's never going to be a xxx." And all those who didn't get in regret it

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  7. #47
    Senior Member custmsprty's Avatar
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    Re: Do you own any Bitcoin?

    Quote Originally Posted by Cruzscarwash View Post
    While I know Bitcoin is different is like anything else . No one say Amazon being what it is today, or Google, or Facebook etc. They all started as a '?"it's never going to be a xxx." And all those who didn't get in regret it

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    Those are public companies with tangible assets, they provide services, earn money, return value on their shares etc. Not some mythical alleged "bitcoin" out in cyber space some where worth something because someone says it is.

    The only reason bitcoin goes up in value is because some people are willing to chase a profit. Just like a pyramid, last in always loses.
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  8. #48
    Senior Member custmsprty's Avatar
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    Re: Do you own any Bitcoin?

    Steam no longer accepts bitcoin for game purchases
    Engadget Jon Fingas,Engadget 5 hours ago
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    Have you been stockpiling bitcoin to go on a Steam shopping spree? You'll need to change your plans. Valve has stopped accepting bitcoin due to a combination of high transaction costs (up from 20 cents in the beginning to $20) and "volatility" in the cryptocurrency's value. While the virtual cash has never been especially stable, its worth has taken a roller coaster ride over the past few months. Its value has been skyrocketing lately (one bitcoin is worth $13,300 US as of this writing), but it has also crashed hard -- Valve cited a 25 percent drop "over a period of days" as an example. That fluctuation creates a huge problem if you make a purchase and it doesn't complete before the usual bitcoin price guarantee elapses, as you may have to pay an outstanding balance and a second transaction fee.

    Valve isn't completely ruling out a return to bitcoin in the future, although it's clear that won't happen unless bitcoin settles down. There's no mention of opening the door to Ethereum and other digital currencies, either. And no matter what, this underscores a very real problem for cryptocurrency no matter the format. Retailers need predictable costs and payments to run their businesses, and they may be loathe to support technology like bitcoin if it leads to unpaid debts and unhappy customers.

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