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Message
Mr Bitcoin Goes to Washington
Posted on 4/8/14 at 11:01 am
Posted on 4/8/14 at 11:01 am
Just heard Polis on CNBC talking about the benefits and he was asked about investing in bitcoins... His answer "No, people shouldn't invest.. They should transfer dollars into bitcoins in order to complete a transaction"
So wtf is the point of transferring $ to bitcoin to complete a transaction when I can just use my Amex to do the same fricking things???
LINK /
So wtf is the point of transferring $ to bitcoin to complete a transaction when I can just use my Amex to do the same fricking things???
quote:
The bitcoin ATM manufacturing company, Robocoin, has been invited by Congressman Jared Polis to the United States Capitol Hill to do a presentation about its machines. This is a great development between the government and the digital currency known as bitcoin.
This momentous event will take place on April 8, from 4:00-7:00 P.M in the Rayburn House Office Building. The bitcoin ATM manufacturing company will bring its hardware and supplies to the capitol office. There, it will demonstrate the device to the rest of congress and other officials who will attend the event. A question and answer session will also be hosted by the company. Furthermore, Congressman Polis will also speak at the event.
LINK /
4
Posted on 4/8/14 at 11:29 am to Lsut81
quote:That doesn't make sense, but if you invest in bitcoin the government has no idea what you have and how much to tax you on if you have gains.
Just heard Polis on CNBC talking about the benefits and he was asked about investing in bitcoins... His answer "No, people shouldn't invest.. They should transfer dollars into bitcoins in order to complete a transaction"
Posted on 4/8/14 at 11:30 am to Lsut81
quote:
So wtf is the point of transferring $ to bitcoin to complete a transaction when I can just use my Amex to do the same fricking things???
Bro, do you even black market?
Posted on 4/8/14 at 11:30 am to OnTheBrink
quote:
Bro, do you even black market?
So a sitting US congressman is advocating using bitcoins to do illegal things? Interadesting
Posted on 4/8/14 at 3:53 pm to Lsut81
Just wait for congress to realize money really can be created out of thin air....
Posted on 4/8/14 at 9:31 pm to La Place Mike
quote:
That doesn't make sense, but if you invest in bitcoin the government has no idea what you have and how much to tax you on if you have gains.
I don't understand this comment. How would they not know?
Posted on 4/8/14 at 11:51 pm to Mo Jeaux
quote:
I don't understand this comment. How would they not know?
Paging Wiki. He will be here shortly to explain it. Oh, wait...
Posted on 4/10/14 at 10:31 am to Lsut81
Bitcoin hit $382.70 on Bitstamp this morning which is a new 30 day low, down 38% over the last 30 days.
This post was edited on 4/10/14 at 10:33 am
Posted on 4/10/14 at 5:09 pm to LSURussian
BTC down to $358 on BTC-E.
Posted on 4/10/14 at 5:22 pm to LSURussian
If Bitcoins can be created out of thin air, as you mentioned above, it is only right that Bitcoins disappear into thin air. So maybe the Bitcoins haven't disappeared, but the value has.
Posted on 4/10/14 at 6:34 pm to Poodlebrain
I attended a bitcoin conference here in NYC this week. It was pretty interesting to say the least.
I've become a bit more persuaded that something useful may come from this. Certainly not as some replacement for fiat currency or some great speculative investment, but for every five "true believers" at the conference (or Wikis, if you will), there was one reasonable person willing to discuss possible beneficial uses for the technology behind bitcoins.
I've become a bit more persuaded that something useful may come from this. Certainly not as some replacement for fiat currency or some great speculative investment, but for every five "true believers" at the conference (or Wikis, if you will), there was one reasonable person willing to discuss possible beneficial uses for the technology behind bitcoins.
This post was edited on 4/10/14 at 6:35 pm
Posted on 4/10/14 at 6:36 pm to Mo Jeaux
It's about to go under $360 on Bitstamp. Next support level on that exchange is $335.
Posted on 4/10/14 at 8:31 pm to LSURussian
I had no idea that it was now in the 300s. I stopped paying attention last week when I sold everything I had. This pretty much sums up Bitcoin as a whole.
LINK
This post was edited on 4/10/14 at 8:34 pm
Posted on 4/10/14 at 8:43 pm to brucevilanch
It sneaked up on me, too.
Price hit $339 on Bitstamp a few minutes ago. I would not be shocked if it goes under $300 tonight or tomorrow.
The BTC-E message board is blowing up. A couple of posters on it are threatening either violence or suicide...or both.
I'm glad you got out ahead of this crash.
Price hit $339 on Bitstamp a few minutes ago. I would not be shocked if it goes under $300 tonight or tomorrow.
The BTC-E message board is blowing up. A couple of posters on it are threatening either violence or suicide...or both.
I'm glad you got out ahead of this crash.
Posted on 4/10/14 at 9:04 pm to LSURussian
yeah, it just wasn't worth the time anymore. With the price dropping and the ridiculous amount of alts diluting the market, profitability just wasn't there. I made some pretty good percentage gains the last two weeks from just letting the pump and dumpers do their job, but other than that I'm done.
If you want to read some of the most delusional bullshite you could ever read, check this out.
As someone who has invested $140,000...
That whole subreddit is in full retard mode.
If you want to read some of the most delusional bullshite you could ever read, check this out.
As someone who has invested $140,000...
That whole subreddit is in full retard mode.
Posted on 4/10/14 at 9:16 pm to brucevilanch
That is an interesting read. That whole deal about "renting" your hard drive to someone else is insane.
What could possibly go wrong with allowing a complete stranger have download and upload access to your computer?
Especially when a person can buy a two terabyte external drive for less than $100.
What could possibly go wrong with allowing a complete stranger have download and upload access to your computer?
Especially when a person can buy a two terabyte external drive for less than $100.
Posted on 4/10/14 at 11:01 pm to LSURussian
It's the magic of the bitcoin protocol though!
Posted on 4/11/14 at 6:38 am to brucevilanch
So you think there is absolutely no application for DACs in the future?
Posted on 4/11/14 at 3:52 pm to Mo Jeaux
Oh sure there is, but there's no reason to compare the technology to the price of a commodity. The protocol may do great things, but I really don't see how that will leverage the price of bitcoin. People are being stupidly optimistic about the two going hand and hand.
Posted on 4/11/14 at 6:43 pm to brucevilanch
quote:
With the price dropping and the ridiculous amount of alts diluting the market
So what do you think about the first of the blockchain 2.0 technologies (Side Chains)?
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