Author Topic: Do you think Bitcoin is a safe store of value?  (Read 84879 times)

mikazo

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Re: Do you think Bitcoin is a safe store of value?
« Reply #20 on: April 04, 2013, 05:35:40 PM »
Hack attacks hit Bitcoin exchange rates

http://www.bbc.co.uk/news/technology-22026961


stahleyp

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Re: Do you think Bitcoin is a safe store of value?
« Reply #21 on: April 04, 2013, 06:32:05 PM »
Wow!

http://money.cnn.com/2013/04/04/investing/bitcoin-atms/index.html?iid=Lead

"42-year-old media entrepreneur Jeff Berwick hopes to bring Bitcoin ATMs to a city near you soon."

Paul

wachtwoord

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Re: Do you think Bitcoin is a safe store of value?
« Reply #22 on: April 05, 2013, 11:53:06 AM »
Hack attacks hit Bitcoin exchange rates

http://www.bbc.co.uk/news/technology-22026961

MTGox is the biggest exchange atm and still has 61% of the exchange market (this has been much higher): http://bitcoincharts.com/charts/volumepie/
This will change in time (and is changing). The same is occurring with mining pools: http://blockchain.info/pools?timespan=4days
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bathtime

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Re: Do you think Bitcoin is a safe store of value?
« Reply #23 on: April 05, 2013, 08:45:38 PM »
I stumbled upon a Bitcoin forum tonight, wow, it's highly active. I didn't realize people are so enamored with it, it's an entire subculture.

https://bitcointalk.org/

This piece by someone who says they put all their money into Bitcoin last spring gave me some insight into the mindset of Bitcoin supporters. Wow, you could buy 10 thousand Bitcoin for $50 two years ago!

http://falkvinge.net/2011/05/29/why-im-putting-all-my-savings-into-bitcoin/

"Normal currencies vary by a few percent over the course of a year. Not bitcoin. On March 30 of last year, somebody asked for $50 for 10,000 BTC (bitcoin) in the trading and wasn’t taken up on the offer. He got an offer of $25. Still, somebody claimed in the thread that the going rate was about USD 6.50 per thousand bitcoin. That’s per thousand. So while there are conflicting numbers between $2.50 and $6.50 as the rate for 1,000 BTC, let’s be conservative and go with the higher $6.50 per thousand BTC and compare it to today. As of midnight UTC on May 29, 2011, the rate is USD 8.30 per bit coin."

Wow, you could buy 1

Liberty

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Re: Do you think Bitcoin is a safe store of value?
« Reply #24 on: April 08, 2013, 10:57:56 AM »
No opinion on bitcoin, but this site's pretty cool:

http://realtimebitcoin.info/
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writser

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Re: Do you think Bitcoin is a safe store of value?
« Reply #25 on: April 08, 2013, 12:01:51 PM »


Doesn't look like a store of value to me. More like a tulip mania. But I might be biased because I'm angry I never went all in :).

The concept is very interesting though.
« Last Edit: April 08, 2013, 12:03:38 PM by writser »
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tng

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Re: Do you think Bitcoin is a safe store of value?
« Reply #26 on: April 08, 2013, 01:51:03 PM »
There will very likely be a day in the near future where the U.S. government will crack down on Bitcoin. It is inevitable. When the government makes it difficult for people to convert Bitcoins back to cash (they will likely target the exchanges, and they'll start going after people who use Bitcoin for illegal activities), the value of Bitcoins will plummet.

enoch01

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Re: Do you think Bitcoin is a safe store of value?
« Reply #27 on: April 10, 2013, 10:38:43 AM »
How would you short this?

Martian

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Re: Do you think Bitcoin is a safe store of value?
« Reply #28 on: April 10, 2013, 11:11:23 AM »
Warren Buffett on Bitcoins from an interview from 2023

I will say this about Bitcoins. If you took all the bitcoins in the world, it would roughly make a cube of 67 micro millimeters on a side…Now for that same cube of bitcoins, it would be worth at today’s market prices about $7 trillion – that’s probably about a third of the value of all the stocks in the United States…For $7 trillion…you could have all the farmland in the United States, you could have about seven Exxon Mobils and you could have a trillion dollars of walking-around money…And if you offered me the choice of having some 67 micro millimeters of bitcoin which you can not even look, touch or fondle it occasionally…Call me crazy, but I’ll take the farmland and the Exxon Mobils.

wachtwoord

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Re: Do you think Bitcoin is a safe store of value?
« Reply #29 on: April 10, 2013, 11:21:03 AM »
Warren Buffett on Bitcoins from an interview from 2023

I will say this about Bitcoins. If you took all the bitcoins in the world, it would roughly make a cube of 67 micro millimeters on a side…Now for that same cube of bitcoins, it would be worth at today’s market prices about $7 trillion – that’s probably about a third of the value of all the stocks in the United States…For $7 trillion…you could have all the farmland in the United States, you could have about seven Exxon Mobils and you could have a trillion dollars of walking-around money…And if you offered me the choice of having some 67 micro millimeters of bitcoin which you can not even look, touch or fondle it occasionally…Call me crazy, but I’ll take the farmland and the Exxon Mobils.

That's gold. Bitcoin is an improvement over gold (e.g. fungiblity, not fakeable, fast/cheap/easy movable and truly limited) but trades for a 0.03% valuation (@ $200 a BTC, it's quite swingy) compared to gold.

Buying BTC for an increase in value is a speculation because there is no good which will ever produce anything. However it is truly undervalued so buying and waiting for the market to correct itself can be highly profitable.
"Beware of he who would deny you access to information, for in his heart he dreams himself your master"

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