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Offlineegoslap
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Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich!
    #24398423 - 06/12/17 12:15 AM (6 years, 7 months ago)

This is brilliant, bitcoins broken $3000 a coin today!  :cool:

I'm predicting it will break $10,000 within 3 years.

I'm not going to be kicking myself again next time, indeed I'm not this time as I just sold and profited a small sum.  My initial investment was over tripled although only a small investment this time.

Lets get on board with this one Shroomery.  I'm predicting this current bubble will level off or crash over the coming year and this is going to be the time to buy in.

Lets all start saving and when it levels buy in and hold to the next bubble which should hit over 10k a coin.

Some analysts are even saying its going to settle at 100k a coin within 25 years.  Thats retirement and the pension sorted!

Even if you only have $100 to spare you should still invest the rewards are big.  Try and aim to buy at least 1 coin when this levels off though!  Buy in price could drop back to around 1k over the next year. 

I'm keeping an eye on it everyday and will make an alert for when I think its time to buy in.

Lets make the Shroomery rich!


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InvisibleNothingsChanged
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: egoslap]
    #24398449 - 06/12/17 12:50 AM (6 years, 7 months ago)

:takingnotes:


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Invisibledemiu5
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: NothingsChanged] * 2
    #24398947 - 06/12/17 08:45 AM (6 years, 7 months ago)

enron



if something seems too good to be true........


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Offlineegoslap
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: demiu5]
    #24399297 - 06/12/17 11:33 AM (6 years, 7 months ago)

Quote:

demiu5 said:
if something seems too good to be true........




Investments are too good to be true?  I will quote you in 3 years when we pocket our 10k investment.  You can kick yourself in your own balls.


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Invisibledemiu5
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: egoslap]
    #24399305 - 06/12/17 11:36 AM (6 years, 7 months ago)

Quote:

egoslap said:
Quote:

demiu5 said:
if something seems too good to be true........




Investments are too good to be true?  I will quote you in 3 years when we pocket our 10k investment.  You can kick yourself in your own balls.






there won't be any kicking, as i have no interest in participating, massive profits or massive failures


investments, inherently aren't "too good to be true", but most rides such as bitcoin (or enron), when there is no tangible good/result is highly volatile and generally prone to failure/collapse


if you are treating it as a short-term investment, that's all well and good.  long-term investing in bitcoin, well......


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Invisiblesh4d0ws
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: egoslap]
    #24399666 - 06/12/17 02:15 PM (6 years, 7 months ago)

There is a lot of coins out there that are far cheaper and can offer larger gains because the ratio of gain to coins bought is so much higher.

Most people barely have a couple hundred to spend let alone enough to buy a full coin. I bought into Ethereum at $7 a coin and made a very large sum of money from $2000.

Tezos is coming out soon and should be considered for anyone who's willing to invest. This one is going to be big.


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Edited by sh4d0ws (06/12/17 02:16 PM)


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OfflineLogicaL ChaosM
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: egoslap]
    #24401495 - 06/13/17 07:09 AM (6 years, 7 months ago)

My ego's about to get SLAPPED.

I heard it dropped down to $2,500 just recently.

Still worth investing thou. Its going up and up and up then crash HARD. Then up and up....


--------------------
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InvisibleAsante
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: LogicaL Chaos] * 2
    #24404250 - 06/14/17 05:45 AM (6 years, 7 months ago)

I contemplated getting in on them when they were six dollars and I decided against it.

Imagine I had thrown $6000 at it. I'd be a triple millionaire.



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Invisiblehowsyournaggerdoin
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Asante] * 1
    #24404676 - 06/14/17 09:07 AM (6 years, 7 months ago)

hindsight is 20/20


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OfflineLogicaL ChaosM
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Asante]
    #24405439 - 06/14/17 02:23 PM (6 years, 7 months ago)

Truth hurts sometimes.

Asante the millionaire....imagine that :omgz:


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InvisibleAsante
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Asante] * 1
    #24406917 - 06/15/17 02:29 AM (6 years, 7 months ago)

My Nkondi keeps saying I'll come into money but he omits to say when :grin:

But yeah, totally 20/20..

Imagine hopping from microsoft stock to apple stock to rhodium to google to bitcoin :strangelove:


--------------------
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InvisibleCyrus19
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: egoslap]
    #24408057 - 06/15/17 02:53 PM (6 years, 7 months ago)

Quote:

egoslap said:
Quote:

demiu5 said:
if something seems too good to be true........




Investments are too good to be true?  I will quote you in 3 years when we pocket our 10k investment.  You can kick yourself in your own balls.



Bitcoin isn't an investment its gambling


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Invisiblegeorge castanzaM
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Asante]
    #24408851 - 06/15/17 08:14 PM (6 years, 7 months ago)

Quote:

Asante said:
I contemplated getting in on them when they were six dollars and I decided against it.

Imagine I had thrown $6000 at it. I'd be a triple millionaire.








I've debated with myself over this a few times, last time I was thinking hard on it btc was @300


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OfflinegeokillsA
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: george castanza] * 1
    #24417245 - 06/19/17 09:36 AM (6 years, 7 months ago)

Frankly, if you have money sitting around doing nothing, that you don't need, it makes perfect sense to allocate a small portion of your assets to bitcoin and/or ether.  These are the first viable new means for currency in a thousand years.  I have no doubt the volatility will be gut wrenching, which is why I don't even try to trade these things.  Just stash some away as part of your asset diversification strategy.  Reward is proportional to risk.  If you aren't going to take the risk, you aren't going to be rewarded.

Of course, if you are struggling to get by, living paycheck to paycheck and saddled with debt, pay off your debts before you do anything else.


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OfflineKryptos
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: geokills]
    #24417532 - 06/19/17 11:44 AM (6 years, 7 months ago)

Having bought at 2K and watched the latest roller coaster, I'm not certain about bitcoin. From a cryptocurrency standpoint, it seems like Ether might be the way to go, opportunity-wise. That being said, this is a volatile market, so sticking with the big names might be worth it.

I still think this is a viable investment, though I do see a short term price collapse possibility. Graph now looks a lot like the graph back in late 2013.

I'm thinking that the next collapse will hit non-bitcoin cryptocurrencies hardest. Bitcoin has the branding, the name recognition. All these new currencies do not.

I think bitcoin is a viable long-term investment. It has generally been growing over the last few years, and even with the huge price corrections in 2013, you would have still made money if you jumped on at the top. It doesn't seem like it will fold anytime soon.


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OfflineLogicaL ChaosM
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: geokills]
    #24418528 - 06/19/17 05:53 PM (6 years, 7 months ago)

Sound advice as always.

Youre so smart and wise :datass:


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InvisibleStonehenge
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: LogicaL Chaos]
    #24456640 - 07/04/17 11:43 AM (6 years, 6 months ago)

They are buying like mad in korea, in japan, in china when able, in india and other places. The reasons are often because the local currency is in long term decline, because of currency controls forbidding people from sending money abroad, or to hide cash from the tax man, among other reasons. Those reasons will not go away any time soon and we are still in the early part of the rollout.

Speculators might think a crash is coming and sell, the price dips a little then shoots back up as people see a buying opportunity. Its not just speculators any more, not just darknet buyers, though they made up the early adoptors. Its more and more common people who just want some money they can spend or send any way they wish.

The mexican peso for example has declined every year for decades agains the dollar. BTC has gone way up as has ether. China has major capital controls, india banned cash a while ago and forces everyone to use a national id card for all purchases and other things. Or... they can put their cash into btc and do as they please while giving the finger to govt.

As I've discussed before, the big dog who takes a commanding lead in a new industry tends to keep that lead and extend it. BTC capitalization is so far ahead of the pack it isn't funny, only ether and possibly one or two others have long term survivability and likely only as niche currencies. VHS squashed beta even though beta had technical advantages. VHS only died when revolutionary advances came along which left vhs in the dust like cd's and dvd's. Then it was cost, storage vs tossing out the old vhs player and getting a new cheap one on your next computer or stand alone device.

It would take a major flaw in the btc structure to bring it down. Like if the miners got so greedy and jacked up fees to the sky, they did that and it was not good but now its back down. Or if there was a fork which people did not trust, that could bring it down. But the race is btc's to lose, what the also rans do means not so much.

Big companies looking to work with coin will want the industry leader. BTC has a 42B market capitalization and only ether looks to be a competitor. But as we saw with vhs vs beta, once you are dominant and well known, companies go with the leader which puts even more pressure on #2, 3, and 4. I own some ether just over 1k worth but my money is in bitcoin.


--------------------
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755


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OfflineEarthsweeties
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Stonehenge]
    #24457225 - 07/04/17 03:44 PM (6 years, 6 months ago)

Will there come a time when all the people stashing them want to sell though?  And the price tumbles...

Another interesting factor. When Silk Road got taken down, a huge number of bitcoins were seized were they not? Could this be used by the FBI to manipulate the price?  Or has that volume of btc faded in significance?


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Offlinetomnl
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Earthsweeties]
    #24457341 - 07/04/17 04:27 PM (6 years, 6 months ago)

FBI sold those already to an investor. I dont have time to search the links but you will find about it when u search.

Greets Tomnl


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Offlineegoslap
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Stonehenge]
    #24458521 - 07/05/17 06:42 AM (6 years, 6 months ago)

Yes and if you consider inflation (which is how paper currency loses its purchasing power over time) into these equations then bitcoins beating all paper currency since its not debt based barter and thus is not subject to the inflation loss of your local paper currency.


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Offlineegoslap
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Earthsweeties] * 1
    #24458524 - 07/05/17 06:46 AM (6 years, 6 months ago)

Quote:

Earthsweeties said:
Will there come a time when all the people stashing them want to sell though?  And the price tumbles...





No because theres no major bitcoin holders who can pump and dump and in share / stock trading when the market bubbles or inflates (time to sell) is typically when all the newer investors come in because it is all over the media.

It might sound obvious to say buy low and sell high but the facts are the majority of investors in any market actually do the opposite.

This is because they are typically not professional traders and people tend to buy in based on media hype when in fact this is the time the pro's are all selling.

On the opposite side of things everyone sells when they are in fear and this is typically the time the pro's will buy in!

As a bitcoin investor, you don't need to sell out completely either, you sell on the hype; make a profit and then buy in again when the bubble drops thus profiting or increasing your share hold.


There is going to come a possible time soon when the market will drop massively (temporarily) and thats when / if bitcoin unlimited comes into play.  IMO At this present moment investors don't need to think about this however.

I'd suggest doing as much research as possible on what bitcoin is and how supply and demand effects markets if you want some edge on what is happening.


Edited by egoslap (07/05/17 06:52 AM)


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OfflineEarthsweeties
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: egoslap]
    #24458570 - 07/05/17 07:15 AM (6 years, 6 months ago)

Quote:

egoslap said:
Quote:

Earthsweeties said:
Will there come a time when all the people stashing them want to sell though?  And the price tumbles...





No because theres no major bitcoin holders who can pump and dump

...

I'd suggest doing as much research as possible on what bitcoin is and how supply and demand effects markets if you want some edge on what is happening.




Are there not? I'd imagine there are numerous people with many 1000s of coins stashed from the early days, not that they necessarily would want to manipulate the market deliberately, but they may wish to "cash in" at some point.
I trust you have more smarts on the topic than I though!


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Invisiblehowsyournaggerdoin
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Earthsweeties]
    #24458596 - 07/05/17 07:29 AM (6 years, 6 months ago)

The creator of bitcoin has like a million or so but he hasnt sold any of them


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InvisibleStonehenge
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: howsyournaggerdoin]
    #24459018 - 07/05/17 11:22 AM (6 years, 6 months ago)

Good post, egoslap. That is how it works for btc and for most commodities. The creator of btc and his 1m coins may be dead or have lost the key to his wallet. Not one coin has moved since he mined them. Keep in mind that at the time, coin was worth basically nothing so 1m coins looked like a few bucks worth. He may have been very careless and had a hard drive crash and not saved the keys. It seems likely he would have moved or sold a few coins in all that time. Even more likely to have moved many of them to other wallets once the value went way up. I suspect those coins are dead same as many others people have reported losing. People toss out old computers with $10 worth of coin that now are worth perhaps 200k. Guaranteed people have bitterly regretted mistakes they made

There is no huge block controlled by speculators so a major crash is unlikely. I too was expecting a crash, hopefully down below 2k at least but while it did go down it never went that low. That was the people cashing in who bought cheap. The steady demand from all over the world meant that the crash which might have gone below 1k never went very low and has bounced back. Just today I bought over $18k of coin at a slight discount. I'm sold on it, I plan to buy more btc and ether too.

I had over 150 coins at one time and sold most of them cheap compared to todays prices. Live and learn, I'm in for the long haul now. At a minimum they will beat inflation to say nothing of bank rates. At a maximum they will go way up and perhaps be 10k each in a few years or less. Another nice benefit is the taxman has no idea and a burglar can't break in and steal them.

Long as you take some precautions you are safe. Have a backup of your keys in safe deposit. There are rules against storing cash in sd but no rules about coin, not yet anyway. Keep the seeds to your wallets in a safe place.


--------------------
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755


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InvisibleLunarEclipse
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Stonehenge] * 1
    #24459598 - 07/05/17 04:06 PM (6 years, 6 months ago)

"a major crash is unlikely"

famous last words.

weren't you pushing for 100 dollar silver on here for like years?


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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: LunarEclipse]
    #24460178 - 07/05/17 08:11 PM (6 years, 6 months ago)

no i wasn't

So if there is no major crash below the present price you will come back and admit I was right? doubt it.


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InvisibleLunarEclipse
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Stonehenge]
    #24461167 - 07/06/17 06:29 AM (6 years, 6 months ago)

Quote:

Stonehenge said:
no i wasn't

So if there is no major crash below the present price you will come back and admit I was right? doubt it.




OK sorry I could have sworn you were a 100 buck an ounce silver prognosticator.  Maybe if I remember you were pushing bitcoin at 3k I'll come back and remind you of that fact when it drops back below 1k?


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InvisibleStonehenge
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: LunarEclipse]
    #24463476 - 07/06/17 09:31 PM (6 years, 6 months ago)

>OK sorry I could have sworn you were a 100 buck an ounce silver prognosticator.  Maybe if I remember you were pushing bitcoin at 3k I'll come back and remind you of that fact when it drops back below 1k?

I'm sure you would but your memory might not be so good if it never drops anywhere near there and gradually goes up. BTW, I was not pushing btc when it was 3k, I made no posts at that time. It is still quite high, bouncing around 2500 and yes I'm bullish on it. I don't think the huge fast gains we saw when it was 300 will repeat soon, let alone the gains from when it was a few dollars. But it will go up.

The only other solid coin I see is ether. That too has done most of its fast rising and we will look for gradual gains. My position is trying to get rid of cash and put it somewhere safe, anon, and with a reasonable upside on appreciation. BTC does that and I'm also putting more into gold. I don't think gold will appreciate as much as fast but it takes up less room in a safe deposit box.

Real estate is a decent investment but takes so much work, I don't plan to buy any more in the near future. Besides, that is the opposite of anon, its wide open.


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Invisiblegeorge castanzaM
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: geokills]
    #24475891 - 07/11/17 04:53 PM (6 years, 6 months ago)

Quote:

geokills said:
Frankly, if you have money sitting around doing nothing, that you don't need, it makes perfect sense to allocate a small portion of your assets to bitcoin and/or ether.  These are the first viable new means for currency in a thousand years.  I have no doubt the volatility will be gut wrenching, which is why I don't even try to trade these things.  Just stash some away as part of your asset diversification strategy.  Reward is proportional to risk.  If you aren't going to take the risk, you aren't going to be rewarded.

Of course, if you are struggling to get by, living paycheck to paycheck and saddled with debt, pay off your debts before you do anything else.





Honestly, I do have more ready cash than I need and will spend in the foreseeable future. As I'm thinking about it the only reason I haven't pulled the trigger on at least one btc is laziness, I don't like doing anything if it's the least bit of a hassle.  Btw, I have zero collectable debt, and I own property as well.


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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: george castanza]
    #24475949 - 07/11/17 05:17 PM (6 years, 6 months ago)

.


Edited by ChemicalSpark (03/29/20 04:34 PM)


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OfflineLogicaL ChaosM
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: george castanza]
    #24476024 - 07/11/17 05:51 PM (6 years, 6 months ago)

U own property and have a case of laziness?

:whattefuck2:


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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: LogicaL Chaos] * 1
    #24481317 - 07/13/17 08:38 PM (6 years, 6 months ago)

Ether and most crypto coins have crashed. I only bought 1k of ether luckily, lost 40% so far. Glad I didn't get serious with it but it will recover eventually, maybe. Ripple dropped way down along with the rest of the also rans.

But bitcoin while it did dip some 20% has stayed on its feet. Still over 2300 as we speak. Didn't someone say it would crash? Looks like btc is the winner. I bought over 10k of it today, sent the guy cash in the mail got a little discount too. I hope to get back up to 150 coins again. Then its to the moon! Anyone want to sell me their bitcoin?


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Invisiblesh4d0ws
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Stonehenge]
    #24481398 - 07/13/17 09:15 PM (6 years, 6 months ago)

I'm sure Ethereum will eventually rally back up, and Ripple as well. Just a matter of how long.

I'm still up on everything. I got lucky and found out about and bought into ETH at $6 a coin, ripple at .08 cents.

My portfolio climbed pretty high though and has dropped 45-55 % since mid June


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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: sh4d0ws]
    #24493421 - 07/19/17 04:14 AM (6 years, 6 months ago)

I find it questionable to buy high, or to get in on trend followers of a trend that peaked.

Second Life.

In 2002 virtually the first virtual world to open its doors has been Second Life. It was crappy, but it was the pioneer the game changer, the bitcoin of virtual worlds.

It became the biggest, even when the technology and graphics quality started to fossilize over time.

now its 2017. SL is a FIFTEEN YEAR OLD VIRTUAL WORLD PLATFORM.

A fossil. You might as well hear a dialup tone when connecting.

But! Virtual worlds came and went, better nd better, but none of it made it up to the level of popularity that SL kept going.  "its great, but its no second life!"

Unless there comes a cryptocurrency that is a DRAMATIC GAMECHANGER I am skeptical of new cryptocurrencies. They're no bitcoin!

Random things do not happen. If one of the new currencies will be the best thing since sliced bread, its because of favorable properties compared to bitcoin that could be anticipated now.

Study!


Geokills - what say ye?


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OfflinegeokillsA
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Asante]
    #24494272 - 07/19/17 02:20 PM (6 years, 6 months ago)

I generally agree with the sentiment.  Bitcoin is the first on the scene, is the most widely adopted (thus proven) and so it has the benefit of a strong tailwind.  However, the ability to execute programs (i.e. "smart contracts") on the blockchain is a pretty dramatic functional improvement over a simple numerical ledger.  It's not so much that these new blockchain implementations (e.g. Ethereum, Tezos, et al) are cryptocurrencies so much as they are a different platform altogether.  They have an attribute that in part functions as a cryptocurrency, however their intended use is not as a store of value, but as a platform with which to execute transparent contractual agreements that eliminate counterparty risk.


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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: geokills]
    #24494286 - 07/19/17 02:27 PM (6 years, 6 months ago)

I'm putting my money on the fact the Federal Reserve is disgusted with crypto currencies and I feel like they will somehow find a way to collapse it to keep us all focused on the dollar. I do absolutely love the privacy of it. I hope Bitcoin lasts forever


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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Errl_Shmirl]
    #24494732 - 07/19/17 05:57 PM (6 years, 6 months ago)

$30M stolen from ether wallet. I thought I would put this here since ether was mentioned.

http://www.coindesk.com/30-million-ether-reported-stolen-parity-wallet-breach/

Smart contract coding company Parity has issued a security alert, warning of a vulnerability in version 1.5 or later of its wallet software.

So far, 150,000 ethers, worth $30 million, have been reported by the company as stolen, data confirmed by Etherscan.io. As reported by the startup, the issue is the result of a bug in a specific multi-sig contract known as wallet.sol. Data suggests the issue was mitigated, however, as 377,000 ethers that were potentially vulnerable to the issue were recovered by white hackers.

Parity ranked the severity of the bug as "critical" in its public remarks, urging "any user with funds in a multi-sig wallet" move their funds to a secure address.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Stonehenge]
    #24494877 - 07/19/17 07:03 PM (6 years, 6 months ago)





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Anxiety is what you make it.


Edited by LunarEclipse (07/19/17 07:05 PM)


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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: LunarEclipse]
    #24495481 - 07/20/17 02:45 AM (6 years, 6 months ago)

This bitcoin shit just sounds like magic beans to me.


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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: viktor]
    #24495497 - 07/20/17 02:58 AM (6 years, 6 months ago)

I'll say it once I'll say it here.

Graphite.


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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: viktor]
    #24496134 - 07/20/17 11:24 AM (6 years, 6 months ago)

Quote:

viktor said:
This bitcoin shit just sounds like magic beans to me.





Paper money too. Print 100 on a piece of paper with some fancy stuff that proves you really printed a 100 on a piece of paper and voila, most people will work many hours to earn it.


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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Asante]
    #24496302 - 07/20/17 12:57 PM (6 years, 6 months ago)

The thing about that 100 is not so much the fact that it is just a piece of paper, but more like a credit in that people trust in the ability to trade the paper they have received for their work for something they desire that someone else put the work in to manifest.

  This is why I'm not at all worried that the US fiat currencies will collapse in my lifetime. The amount of faith placed in that paper by millions of people worldwide is what gives it it's value. Once most people get an idea in there head that something is true it is very hard to convince them that it is not, even if all sound logic and physical evidence suggest the contrary.


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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: george castanza]
    #24496360 - 07/20/17 01:33 PM (6 years, 6 months ago)

Quote:

george castanza said:
The thing about that 100 is not so much the fact that it is just a piece of paper, but more like a credit in that people trust in the ability to trade the paper they have received for their work for something they desire that someone else put the work in to manifest.

  This is why I'm not at all worried that the US fiat currencies will collapse in my lifetime. The amount of faith placed in that paper by millions of people worldwide is what gives it it's value. Once most people get an idea in there head that something is true it is very hard to convince them that it is not, even if all sound logic and physical evidence suggest the contrary.




Thats true but how has the value held up over the last 100 years? Its lost some 98% of its value hasn't it? Its worth what people will exchange for it, same as with bitcoin. Bitcoin since its inception has gained hugely in value. Its worth over $2500 a coin right now.

With all the qe and massive debt on not just federal level of some 20T but state and municipal and pensions, etc there is no way to pay it back except for even more qe. We are trying to print our way out of debt and that will come to a bad end. Zimbabwe or venezuela here we come. Coin on the other hand is limited in supply, no one can create millions more by pushing a button.

That is one reason I can't see real estate or much of anything else which is a commodity dropping in value. There are too many dollars chasing too few goods and every country is playing the same tricks. Europe is on the verge of a breakup and many countries are about to collapse financially.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Stonehenge]
    #24496547 - 07/20/17 03:08 PM (6 years, 6 months ago)

That is all very true, but when all the smaller fiats crash where are they going to go? Btc and the like can hardly be traded hand to hand in a backroom or street corner. When all others crash people will largly run to the US dollar (likely because of the  US Navy). I'm not claiming that the fiat dollar will never become obsolete, I'm just very doubtful that it will happen in my lifetime.

Basically the shell game will continue as long as the powers that be dictate that it does.


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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: george castanza]
    #24497071 - 07/20/17 07:08 PM (6 years, 6 months ago)

Actually that is the main thing keeping the dollar afloat. Other currencies are crashing too, the dollar has a near mythical status so even though the balance sheet looks bad they figure it better than pesos, dinars, etc. The dollar will never die, it will just fade away quite a bit. Losing over 98% and more each year is not a winning track record. Its the way big govt steals from the poor like a reverse robin hood. The rich know where to invest and beat inflation.

Bitcoin can indeed be traded on street corners and back rooms. Phone to phone and its done in a jiffy. It can also be sent anywhere in the world which is not always possible with fiat and when it is possible, it usually costs a lot and or takes a long time. There is also the problem of reversing a payment, paypig can be reversed and many other forms of payment, checks can bounce, mg/wu cost a good bit, are inconvenient and may deny the transaction or bar you from using it forever. They also prohibit using mg/wu for buying things.

Financial systems all over the world are in deep doo doo. USA is insolvent on the books, the can keeps getting kicked farther and farther. But, while you can fool some of the people all the time, many are wising up and investing in commodities like gold, r/e, and bitcoins. BTW, coin just passed 2800 again. Rumors of its crash or demise were greatly exaggerated.


--------------------
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Stonehenge]
    #24497637 - 07/20/17 11:34 PM (6 years, 6 months ago)

Debt on a personal level and Debt on a national level work very differently. Let me give you an example: The US foreign debt is $6.06T, of which China owns $1.06T. However, at the same exact time, China has approximately $1.68T in foreign owned debt, of which 80%, or about $1.34T, is owned by the US.

Fun right?? We owe them money, but they also owe us money!

Since this is a little bit more complicated than you loaning your buddy 5$, we can't just call it even.

For added fun, Notice that of 19T, only 6T is owned by foreign interests. We owe *ourselves* 13T. You ever owe yourself money before? "Hey, me, I need to borrow five bucks, can I pay me back tomorrow?"

I don't get why everyone freaks out about national debt. Sure, being in debt is bad, because the bank can send an angry lawyer after you. You think some random ass bank in China is gonna send a lawyer after the US? Nope. Just like Wells Fargo (or whoever) won't send a lawyer after China. The debt just makes the world go round more smoothly, much like a mortgage allows you to effectively buy a house over time. You *can* eventually afford it, it's just that you don't wanna be homeless for the 30 years you spend saving up. Same thing, but with like, trade deals and shit internationally.

I guess in theory, if China was to somehow consolidate all the debt it owns, and then call in all the US debts, then the US would be a little bit fucked, to the tune of $1.06T. Considering our GDP of ~19T, that means that the US, with some coordination, would just lose income for a few weeks. Oh well. Heck, if the Government had to handle the debt alone, it would pay it off within a quarter, considering the yearly income of the government is in the $4T range. Yes, this would be disastrous economically, but then we could do the same thing to China, who's GDP of ~12T means that repayment of their debt would hurt their economy much more, shutting it down for at least a month, or...I don't know the government revenue even in ballpark, so...I don't know, but it would hurt China worse.

Again, keep in mind that this financial war scenario would require extreme coordination and consolidation of debt ownership, which is practically impossible. Look at congress for an example why.


Edited by Kryptos (07/20/17 11:57 PM)


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Invisibleamp244
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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Kryptos]
    #24499436 - 07/21/17 06:43 PM (6 years, 6 months ago)

Some serious shit about to go down with bitcoin. An intentional fork is looming.

https://blog.bitmain.com/en/uahf-contingency-plan-uasf-bip148/
This shit is pretty esoteric so if you don't understand it fully, you aren't alone.

If you have coin in a bank/exchange like coinbase you might want to get it out. Read this guide to learn all about the situation. It is very informative.
https://bitcointalk.org/index.php?topic=2012799.0

Although after reading through the article they have been addressing the issue and perhaps this news caused an overreaction.


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Edited by amp244 (07/21/17 07:53 PM)


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Re: Bitcoin Breaks $3000 a coin! Predictions? Lets make Shroomery rich! [Re: Kryptos]
    #24499536 - 07/21/17 07:41 PM (6 years, 6 months ago)

Of course debt is important and no it does not all come out even. The large part of the nat debt we owe to "ourselves" means owed to usa residents and citizens. I think that counts a lot, people have their retirement and life savings in those treasuries. Its so large that now we have trouble paying interest and having enough left over to fund important programs. And lots to waste on stupid wars of course.

What happens when interest rates really go up like they have been in the past? Rates have been kept artificially low and the fed is not going to jack them way up. They will likely roll back the little bit they did raise not too long ago. If rates go up to 6% which is not high historically, then we will be paying interest and not much else. Everything will have to be slashed to the bone or eliminated except of course for the military.

By aug 1 they will come to some sort of conclusion on what to do. Bip91 looks like its in and also segwit so a hard problem fork is very unlikely but you never know. A soft fork agreed upon is more likely along with at least doubling the block size.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

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