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Message
re: Is bitcoin gaining legitimacy?
Posted on 11/19/13 at 2:10 pm to WikiTiger
Posted on 11/19/13 at 2:10 pm to WikiTiger
just a reminder to all that the 2nd day of the Senate hearing starts in a few minutes (3:30pm ET):
https://www.c-span.org/Live-Video/C-SPAN3/
Panel 1
Ms. Jennifer Shasky Calvery [view testimony] Director, Financial Crimes Enforcement Network
Mr. David Cotney [view testimony] Commissioner of Banks, Massachusetts Division of Banks
Panel 2
Mr. Anthony Gallippi [view testimony] Co-founder and CEO, BitPay, Incorporated
Ms. Mercedes Kelley Tunstall Partner and Practice Leader, Privacy and Data Security Group, Ballard Spahr LLP
Ms. Sarah Jane Hughes [view testimony] University Scholar and Fellow in Commercial Law, Maurer School of Law, University of Indiana
Mr. Paul Smocer BITS President, Financial Services Roundtable
https://www.c-span.org/Live-Video/C-SPAN3/
Panel 1
Ms. Jennifer Shasky Calvery [view testimony] Director, Financial Crimes Enforcement Network
Mr. David Cotney [view testimony] Commissioner of Banks, Massachusetts Division of Banks
Panel 2
Mr. Anthony Gallippi [view testimony] Co-founder and CEO, BitPay, Incorporated
Ms. Mercedes Kelley Tunstall Partner and Practice Leader, Privacy and Data Security Group, Ballard Spahr LLP
Ms. Sarah Jane Hughes [view testimony] University Scholar and Fellow in Commercial Law, Maurer School of Law, University of Indiana
Mr. Paul Smocer BITS President, Financial Services Roundtable
1
Posted on 11/19/13 at 2:11 pm to LSUzealot
quote:
Apparently, per Wiki, if you spend 2 hours researching, you can figure out on your own how to protect your money. In today's society of NOW NOW NOW, this has to get exponentially better and easier. I live in the moment. And right now, bit coin isn't for me. I may kick myself in the arse in 2 years, but it certainly wouldn't be the first and undoubtedly won't be the last.
Exactly.
Obviously, I would love to have sunk a boatload of money into something that cost twelve dollars a year ago and now is worth 600+. Who wouldn't?
But the risk-reward ratio is something that I simply am not comfortable with. If that means I pass up the opportunity to become a bitcoin billionaire, I guess I just have to make my peace with that. It still would rank below passing up buying Sirius at six cents a share because I actually knew that one was going to bounce back huge.
It would be nice to know who the major buyers and sellers are.
This post was edited on 11/19/13 at 2:13 pm
Posted on 11/19/13 at 2:15 pm to WikiTiger
quote:
Just remember, the internet was difficult to use back in 1993,
bitcoin:AOL as Xxxx:Google
Posted on 11/19/13 at 2:37 pm to Walking the Earth
quote:
would be nice to know who the major buyers and sellers are.
Some article I read on Forbes this morning said the government of China. I have no idea if that is legitimate or not.
Posted on 11/19/13 at 3:04 pm to WikiTiger
this hearing is a joke....they're scared to death they're going to lose control over this thing...which tells me it's more viable than I earlier thought...if US senators, treasury, and IRS folks don't like it..it MUST be good 
they're talking about the thefts as if there's not millions of dollars stolen via credit cards and national digital currency every year...geez
they're talking about the thefts as if there's not millions of dollars stolen via credit cards and national digital currency every year...geez
Posted on 11/19/13 at 3:05 pm to Ole War Skule
They've had 2 formal hearings on UFO's also.
Posted on 11/19/13 at 3:07 pm to Broke
quote:
They've had 2 formal hearings on UFO's also.
which were apparently very effective...I haven't seen any recently
Posted on 11/19/13 at 3:15 pm to Ole War Skule
quote:And the bitcoin hearings are even more effective because no one has ever seen one of those little suckers either.....
which were apparently very effective...I haven't seen any recently
Posted on 11/19/13 at 3:22 pm to LSURussian
seeing it doesn't make it real....
No one has ever seen the vast majority of my 'dollars', but everyone seems to be OK with that
Posted on 11/19/13 at 3:23 pm to Ole War Skule
Those are counterfeit bitcoins.
Posted on 11/19/13 at 3:32 pm to LSURussian
Any coin bearing the bitcoin mark is fake. They don't print coin. They print novelty stuff.
Posted on 11/19/13 at 3:35 pm to Broke
I know, I know..was a freakin' joke!
BTW, the flying saucer is fake to...you can tell since it has no FAA number on it
BTW, the flying saucer is fake to...you can tell since it has no FAA number on it
Posted on 11/19/13 at 3:36 pm to Broke
quote:
Any coin bearing the bitcoin mark is fake.
But this one is real.....1E8rQq9cmv95CrdrLmqaoD6TErUFKok3bF.
Posted on 11/19/13 at 3:37 pm to Ole War Skule
quote:That was the first thing I noticed....
BTW, the flying saucer is fake to...you can tell since it has no FAA number on it
Posted on 11/19/13 at 3:57 pm to LSURussian
Dude just said 90% of the bitcoin folks are investors and not users. Mercedes says it isn't viable as a currency
Posted on 11/19/13 at 4:16 pm to Broke
Speak as if I have no clue what this means (I don't). Does this suggest a huge bubble effect going on?
Posted on 11/19/13 at 4:29 pm to Mr. Tom Morrow
quote:
Speak as if I have no clue what this means (I don't). Does this suggest a huge bubble effect going on?
Nobody wants to use bitcoin as an actual currency because it's so volatile.
Why would you use a bitcoin to buy a Pepsi when tomorrow the "value" could increase by a factor of sixty?
So, yes, it is a bubble. If the price doesn't stabilize, all it takes is one person (well, one major "investor") to stop and say "Wait a minute...what are we doing here?"
Posted on 11/19/13 at 4:48 pm to Mr. Tom Morrow
quote:
Does this suggest a huge bubble effect going on?
I think it's generally accepted as a bubble right now from both sides of the aisle so to speak.
Posted on 11/19/13 at 4:55 pm to Broke
I guess I should have just asked what do you mean by your post? I have no clue if 90% being investors is good or bad. I'm thinking bad because it increases the chance of a hard crash.
Posted on 11/19/13 at 4:58 pm to Mr. Tom Morrow
quote:
I guess I should have just asked what do you mean by your post? I have no clue if 90% being investors is good or bad. I'm thinking bad because it increases the chance of a hard crash
Speculators are buying and driving the price up with heavy demand. Eventually price will come down.
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