12 votes

I shoulda listened about bitcoins

Back when they were probably 10 cents or less I flirted with the idea of buying a few hundred bitcoins but convinced myself it was a scam and wouldn't last more than a few months. Then when they were $20 I thought I'll get some next time they're a quarter and wait for the next $20 moment to sell. Well, I did neither and I wish I had. Always listen to old timers on the DP, they really do know what's up.

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Anyone remember those TV

Anyone remember those TV infomercials for AURI, and that lady with the sandwich maker?

Never be afraid to ask simple questions.

I'm hitting myself

in the head right now too.

Heck, I think I knocked myself out last night :)

you should listen to bitcoin...

www.listentobitcoin.com

Jen had known associations with pandas in college.

Vote for Sue. It's the right thing to do.

Love You Like A Bitcoin


http://youtu.be/E1tdwsQE4q0

Jen had known associations with pandas in college.

Vote for Sue. It's the right thing to do.

First of all ...

don't fret.

Bitcoins are extremely illiquid. There is, currently, no way to cash out and it is nearly impossible to buy anything with them.

There is still an extremely likely risk of losing it all thru government siezure.

By the time you are able to cash out, and that is a big if, they will nearly be worthless again. The minute that you can instantly cash out or convert to gold or silver, supply will overwhelm demand. The very act of conversion my cost you up to 50% in value.

God Bless.

That's not true at all

You can cash out bitcoins at coinbase.com and have dollars deposited directly to your bank account. You can also buy gold and silver directly with bitcoin at amagimetals.com.

Regarding seizure of bitcoin, just what is the govt going to seize? That's like saying they're going to seize bit torrent. Bitcoin isn't a thing it's a technology and no govt can stop it anymore than they can stop bit torrent downloads (and they've tried).

There are many online bitcoin sites now. There's rumor that Paypal will soon be accepting them.

If you think it's a scam, don't get involved. But do some research before you conclude that. The fact that it's open source and many have tried to break it and failed tells me it's for real.

I never said ...

and I don't think ...

It is a scam.

Why go that route?

However, you said a few things that are incorrect.

You can not cash out at coinbase.com.
Most people can not buy gold and silver at amagimetals.com with bitcoins.
A U.S. citizen with a U.S. bank account can not deposit dollars directly to their bank account after converting into dollars from coinbase.com.
I have done my due diligence and I am informed and I have conducted extensive research.

You also left out a few things ...

20+% immediate haircut via capital gains if you meet the requirements and limits to cash out in the first place.
Sales tax.
Reporting requirements.
Limits.
Conversion rates vs. spot rates.

God Bless.

Believe what you will

and have a good life. :)

What are you talking about?

Believe?

I am not talking about anything that I believe.

I am simply stating facts.

Ohhhh, I was wondering about that too

Not quite like going to the coin exchange you say? I thought that might be the case. I feel much better about my decision now. Still would have been pretty nice to turn pennies into hundreds.

wolfe's picture

so...

You would trade something as easily printed as money for something as easily created as a GUID?

It is a scam, regardless of anything that people are saying about it or what they currently value it at, it is a scam.

Really? This community has devolved into absolute absurdity.

The Philosophy Of Liberty -
http://www.thephilosophyofliberty.com/

It's funny you say that. After I wrote this post I was thinking

I still think it's a scam but the fact remains that if I had bought a few hundred for pennies that I could cash them out for a bunch of money today. I still fully expect the bottom to fall out of bitcoin very hard and fast, but I think I would have sold at $800-$900 and paid off my kitchen and got a decent truck. Oh well. Maybe next scam. ;)

wolfe's picture

lol....

Too true.

The Philosophy Of Liberty -
http://www.thephilosophyofliberty.com/

Bitcoin vs. Gold - intrinsic value ???

Published on Nov 21, 2013
"With the surging popularity of Bitcoin, Peter Schiff sees another bubble in the making. Peter explains why Bitcoin is not "gold 2.0" and why you are assuming significant risks by "investing" in it"

http://www.youtube.com/watch?v=0L7SOPDOvvI#t=14

...

You will feel better when the IRS starts property and asset liens. I would be sure of it.

All rights reserved and no rights waived.

Trading virtual currencies

I realize trading anything has its risk, including gold and silver, but who's knowledgeable on trading virtual currencies? The dos, don'ts and how-tos? What software? Is mining still a good option? Any help and links would be greatly appreciated.

I hear you. I waited. Read

I hear you. I waited. Read everything I could. Waited some more. Then boom! Oh well, I'll probably buy when the next freak occurrence happens which it will.

BTW, this thing is still very raw. Let me tell you, I'm an expat, living outside the US, and it ain't easy to buy these things where I'm at. And these exchanges like Mt.Gox are slow as hell at opening accounts. I know in the US people have a couple alternatives but even they seem sketchy at best.

So don't fret, Bitcoins have room to grow because the market place is so raw, slow, and chaotic.

I am Smudge and I have purpose built humor weapons

but this is the most unpopular and most hated post i have posted in like forever....

http://www.dailypaul.com/304717/new-pill-treats-dumbasses-wh...

because friend, we are left with no choice but to laugh at ourselves and then to forgive ourselves and GET IN THIS GAME.

I, SMUDGEPOT PROMISE YOU THAT I WILL GET IN THIS GAME TO THE TUNE OF LIKE $50 TOMORROW SO THAT I WILL TAKE THIS RISK WITH YOU.

I ALREADY HAVE MY REWARD.

IT'S YOU.

There is nothing strange about having a bar of soap in your right pocket, it's just what's happening.

just a bit further, i will continue

part of being me is to protect you so i must go where you go. No matter where you go. And because I trust you, i will follow in your footsteps.

And I don't need anything money can buy. what i see now is i should have bought bitcoin earlier just just to say i believe in you.

ok fine. i believed in you then and i believe in you now, i just wasn't hip to the new trip but i commit to spening into this game.

because i believe in you. i always have and i always will.

and i love you.

There is nothing strange about having a bar of soap in your right pocket, it's just what's happening.

Of the 9 ozs. of silver

I've managed to accumulate, only 4 were purchased with paper...the other 5 were traded with a 14k gold ring - I will be buying another 50 ozs. in 2 months.

Father - Husband - Son - Spirit - Consciousness

Now is the time to buy gold and silver

Watch for it to drop a little more, and then in the next two years it will skyrocket as the fiat ponzi scheme explodes to nothing, with no recovery.

When did common sense become a super power? –Patrick F. Holman

I voted you back up XDREAM...Don't know who voted you down...

...could be some infiltrator from the Huff Post who considers anyone owning metals to be a nut case.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

yeah that's what they said in 2009-2010 and the price did go up

but now it's right back down and a lot of people lost money here so you will be downvoted.
bitcoin is easing the silver pain for me but others aren't so lucky. silver is a great deal right now and i hate to have to sell at this price, it really sucks. at this point it's either sell bitcoin or sell silver and i ain't selling bitcoin (yet)...
a guy owes me some bitcoins and if i get them back i've decided to go ahead and take some profits off the table. i'll sell them to help pay bills and save some of my silver collection from going to ebay.

i gave up on trying to get rich on silver and gold a longtime ago. i sold a bunch in the mid $3o's the last two years. i hated to have to do it then but now i see i actually got lucky. i paid bills and bought some bitcoin with that money. to be continued....

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
#standwithrand

bitcoins remind me

of a HYIP from a decade ago...goldenrocks.

Still...I'd be lying if I said I don't regret not buying at couple hundred when it first came out.

Oh well, guess I'll have to make my money the old fashioned way...work.

"If this mischievous financial policy [greenbacks], which has its origin in North America, should become endurated down to a fixture, then that government will furnish its own money without cost. It will pay off its debts and be without debts. It will hav

plenty of gold left to mine...

go get some... forget football and make gold hunting your hobby.

When did common sense become a super power? –Patrick F. Holman

Me too

I should have listened to the "experts" about:

*House flipping
*Liar loans
*Ponzi schemes
*Pyramid schemes
*Obamacare
*Snake oil

you bought silver at $50 didn't you

ouch

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
#standwithrand

Hardly!

I inherited my silver; hence, my name.
My mother was a wise woman.

Nope... at $8

And gold at $640

When did common sense become a super power? –Patrick F. Holman

congratulations

loan me some money ;)

Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms
#standwithrand