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What's your take on this whole bitcoin thing?

#11megaman4everEXEPosted 1/29/2014 6:44:39 PM
It's highly volatile, and definitely not worth the investment. I would not exchange any real money for bitcoins. If I mined bitcoins, I would've cashed in when they reached $100s per coin. You never know then the price will crash again, so you might as well get a little money while you can.
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#12DiviDudePosted 1/29/2014 6:51:07 PM
I don't know enough about the topic to justify having any strong opinion one way or the other. And considering how novel the idea is, I suspect that applies to pretty much everyone.
#13ein311Posted 1/29/2014 6:51:11 PM
megaman4everEXE posted...
If I mined bitcoins, I would've cashed in when they reached $100s per coin.


I was cashing them in early on at around $15-$20 per btc.
Then I held onto a couple coins when I quit mining and the whole market crashed.

...And then it went up to $250+ and I was selling my btc from $250-$300/each.

I made a decent amount of "Free" money with bitcoins, but it isn't really worth it for me to mine anymore. The mining scene has changed to where you need ASICs to even be relevant anymore.
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#14Custers_RevengePosted 1/29/2014 8:41:31 PM
I think it's stupid. The reason why it got so hyped up was because people were buying bit coins and selling them for a profit. They were treating it like the freaking stock market. Currency isn't made for that. The point is that its currency and currency is made to buy goods. So then the cost of a single coin goes crazy high because all the buying and selling of the coins themselves. The whole thing is stupid. Not to mention, there isn't a whole lot you can actually do with bit coin, a lot of the use is for crimes ranging from buying drugs to child porn. There is no paper trail so it's the currency of criminals. Great job s*** coin.
#15DawnshadowPosted 1/29/2014 8:50:07 PM
I regret not mining some or buying some when I first heard about it years and years ago. It wasn't long after it first started; I figured it was just a thing that would never catch on.

I also think it probably can't last. Probably.
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#16M DAMAGEPosted 1/29/2014 8:55:42 PM
FBI and govt are hypocrites-- they've been caught over and over, on record, laundering drug money WITH mexican drug cartels. Our govt is the top player in the drug trade.

Not taking bit coin's side, i dont know the whole story, but USA govt is the most corrupt there ever was.
#17ChA0TiCoNePosted 1/29/2014 9:50:18 PM
The price on bit coins is going to tank, and when it does, its going to tank incredibly hard. Like over night. Total crash. This is what happens when you have a digital currency. The risks of it tanking are enormously higher than something you can physically grasp.
#18ChA0TiCoNePosted 1/29/2014 9:55:44 PM
M DAMAGE posted...
FBI and govt are hypocrites-- they've been caught over and over, on record, laundering drug money WITH mexican drug cartels. Our govt is the top player in the drug trade.

Not taking bit coin's side, i dont know the whole story, but USA govt is the most corrupt there ever was.


I agree the war on drugs is just as much of a joke if not more so than the war on terrorism.

And they got busted red handed giving guns to the drug cartels too. They're busy blowing each other to smithereens down in Mexico with heavy machine guns and stinger missiles because the US government gave it to them, lol.
#19WyzeGyePosted 1/29/2014 9:55:53 PM
The ignorance is strong in here
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#20GTRagnarokPosted 1/29/2014 10:00:22 PM(edited)
I'm beating myself up for not getting in on it when it was newer. But it's too late now. Too hard to mine.
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