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Old 11-26-2013, 06:40 AM   #1
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Default Bitcoins exploding!!!

A lot of you probably have never heard or dont know much about them. Basically, its a currency that has no backing, like the gold standard, that you can use to purchase things online. Its been around for a few years and doesnt have a ton of vendors accepting it. Its virtual currency. It use to sell for cents or a few dollars for one virtual coin. However, this week it has exploded to about 900 dollars a coin.

I have a few friends who bout a couple a few years back and just made thousands. There are also stories online of people just remembering they bought them and realizing they are worth half a million or some crazy amount.

Anyway, they are extremely volatile and can change value quickly. There are also other online currencies that you can own.

My question is, does anyone have any or know anyone that hit it big? I just purchased a 100 dollars worth. About a tenth of a coin. I just want to get my mind around it and I know that I am buying them when they are sky high. However, I plan on purchasing some other smaller ones and hoping to hit it big. Its very confusing but it has great potential.

Here is some info trying to explain it.
http://www.wired.com/wiredenterprise...urvival-guide/
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Old 11-26-2013, 08:58 AM   #2
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Default Re: Bitcoins exploding!!!

Not a good way to play it. To play that way you will need a sophisticated trading platform that monitors and analyses micro-movements and buy/sell on small margins. Perhaps a safer way is to mine them yourself. You will need a decent computer with an advanced video card. There are many 3rd party systems of varying cost that will help. Many provide generic infor free. Here are some: http://startbitcoin.com/, http://www.wikihow.com/Mine-Bitcoins, http://techcrunch.com/2013/04/08/how-to-mine-bitcoins/, http://www.howtominebitcoins.com/.

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Old 11-26-2013, 09:19 AM   #3
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Default Re: Bitcoins exploding!!!

Saw something online about a dude I believe I in sweden. He had bought some years ago when they first were introduced (2008 or 2009?) and forgot about them. Saw something on TV and spent three days trying to remember password. Finally remembered it and found out he had something 3/4 of a million dollars. Can yyou imagine finding 3/4 of a million
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Old 11-26-2013, 09:25 AM   #4
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Default Re: Bitcoins exploding!!!

Quote:
Originally Posted by ccured View Post
Saw something online about a dude I believe I in sweden. He had bought some years ago when they first were introduced (2008 or 2009?) and forgot about them. Saw something on TV and spent three days trying to remember password. Finally remembered it and found out he had something 3/4 of a million dollars. Can yyou imagine finding 3/4 of a million
Did he cash it in.

If you do t cash it in you don't have squat. The value could drop as fast as it rose.
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Old 11-26-2013, 09:34 AM   #5
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Default Re: Bitcoins exploding!!!



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Old 11-26-2013, 10:35 AM   #6
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Default Re: Bitcoins exploding!!!

I follow a Call of Duty YouTuber on Twitter and he is always tweeting about bitcoin. I've watched the value of the currency tick upward from his tweets from less than $100 a few months ago to around $800 the other day. I would have a hard time pulling the trigger or something like this, but if I had some extra income that lying around I would love to try.

He started preaching Lite Coin last night and telling people to buy it while the price was still low.
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Old 11-26-2013, 04:46 PM   #7
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Default Re: Bitcoins exploding!!!

Quote:
Originally Posted by Spur's Addiction View Post
Did he cash it in.

If you do t cash it in you don't have squat. The value could drop as fast as it rose.
http://now.msn.com/kristoffer-koch-n...bitcoin-profit

only cashed in some
Quote:
Forgetting about investments for four years usually isn't the best way to manage money, but for Kristoffer Koch, the strategy (if you can call it that) paid off handsomely: It bought him an apartment. In 2009, the Norwegian man was writing his thesis about encryption and researching the (at the time) little-known Bitcoins. The encryption on Bitcoins, a digital currency with no centralized authority, makes them essentially untraceable. Curious, Koch bought 5,000 Bitcoins, which cost about $24. Then he forgot about them, finished his thesis and went on with his life.


Bitcoins grew in popularity, and the currency boomed earlier this year. All the media coverage reminded Koch about his purchase, so he checked his account. The coins, which used to be worth less than a penny apiece, now had a total value of $866,000. Koch cashed in a fifth of his earnings to buy a three-bedroom apartment in Oslo. For their part, Bitcoins are still going strong: A new Bitcoin exchange called Coinfloor, committed to anti-money-laundering rules, opened Tuesday.
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Old 11-28-2013, 10:47 PM   #8
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Default Re: Bitcoins exploding!!!

There is even a Bitcoin Black Friday now: http://techcrunch.com/2013/11/28/ove...tersocialshare
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Old 11-29-2013, 09:29 AM   #9
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Default Re: Bitcoins exploding!!!

Quote:
Originally Posted by Spur's Addiction View Post
Did he cash it in.

If you do t cash it in you don't have squat. The value could drop as fast as it rose.
What do you mean "cash them in." People are "cashing in" when they're buying them. The American $ is the currency that is guaranteed to do one thing, and one thing only and that is lose its value.
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Old 12-02-2013, 12:11 PM   #10
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Default Re: Bitcoins exploding!!!

Another, why didn't I think of this moment. Dude made 24,000 buy holding up a bitcoin sign.

http://finance.yahoo.com/news/colleg...153845085.html
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Old 12-03-2013, 08:24 AM   #11
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Default Re: Bitcoins exploding!!!

Quote:
Originally Posted by AikenRooster View Post
What do you mean "cash them in." People are "cashing in" when they're buying them.
Eh. It's a matter of perspective. Everyone knows what I meant.
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Old 12-18-2013, 11:04 PM   #12
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Default Re: Bitcoins exploding!!!

Talk about a fall:

"Prices of virtual currency bitcoin fell 20% Wednesday and are now down more than 50% from their record high hit two weeks ago amid worries that China is moving to block the purchase and use of the currency by its citizens," The Wall Street Journal writes.

Bitcoin's big slide began two weeks ago, as we reported, when Chinese authorities told banks there that they couldn't trade in the currency. Officials were worried, NPR's Frank Langfitt reported, about a lack of control over bitcoins that "makes it easier to launder money and finance terrorism."

Wednesday, MarketWatch writes, "BTC China, the biggest bitcoin exchange in that country," announced it has "temporarily stopped" accepting yuan deposits into bitcoin accounts. The news followed reports that "the People's Bank of China had a meeting on Monday with about 10 major third-party payment processors and ordered them to stop working with bitcoin exchanges."

http://www.npr.org/blogs/thetwo-way/...-bite-the-dust
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Old 12-18-2013, 11:15 PM   #13
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Default Re: Bitcoins exploding!!!

Putting real money to get a tenth of a fake internet coin... Seems like a wise money move.
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Old 12-19-2013, 12:24 AM   #14
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Default Re: Bitcoins exploding!!!

Seems legit.
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Old 12-19-2013, 12:49 AM   #15
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Default Re: Bitcoins exploding!!!

Quote:
Originally Posted by Gamecock_Aholic View Post
Putting real money to get a tenth of a fake internet coin... Seems like a wise money move.
All great things started as a risk....history has proven that. Ill make sure I contact you for approval the next time I wipe my ass or blow my nose.
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Old 12-19-2013, 12:51 AM   #16
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Default Re: Bitcoins exploding!!!

Quote:
Originally Posted by GamecockNeal View Post
All great things started as a risk....history has proven that. Ill make sure I contact you for approval the next time I wipe my ass or blow my nose.
No need to contact me for those things, unless you are considering spending 100 dollars on a tenth of fictional toilet paper. Then you can call me.
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Old 12-22-2013, 12:31 AM   #17
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Default Re: Bitcoins exploding!!!

http://www.digitaltrends.com/cool-te...coin-dogecoin/
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