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[MW] Bitcoin Hits All Time High of $309. - Page 5

post #41 of 47
Quote:
Originally Posted by 77bigmac77 View Post

Mt Gox is always way higher than any other exchange. Looking @ 280 right now on btc-e

it will come back down, exchanges are printing money I swear. Manipulate supply, buy low, sell high

a lot easier when you can do all three of those at the right time, ALL THE TIME

ponzi scheme but with a critical bonus IMO, ponzi couldnt make the money he got be worth any more, these people can

it's supply and demand.

Right now demand is though the roof from the news of the first Bitcoin ATM.

Also arbitrage (something valued differently by different people). It's the same as foreign currency exchanges (forex).

Gold/Silver/Platinum/etc (Precious metals or "PM") aren't immune either. Neither are commodities such as oil.

BTC just happens to be much more volatile.
Edited by AlphaC - 11/7/13 at 1:26pm
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post #42 of 47
it's all about what you can spend them on though. I don't know if you guys follow the "other" side of bitcoin, but there was a huge loss of coins after a certain address went down. This is just people trying to get some kind of stash back.

If there were more services for altcoins (and there was for a short while) than there would be a more balanced value compared to bitcoin if people could efficiently funnel cash into it. It's all about the process of converting fiat currency into the coin in question, the algorithm is more or less irrelevant especially considering there are more sensible coins from a consumer perspective already in existence.
post #43 of 47
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post #44 of 47
I would not touch S2.0 with a twenty foot pole. Carder's Market all over again
post #45 of 47
Quote:
Originally Posted by fateswarm View Post

Nobody gives you cash. You have to buy toys and stuff from people that accept them.

Hehe, they believed I was serious.


In any case, have fun with your russian money laundering currency.
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post #46 of 47
Quote:
Originally Posted by 77bigmac77 View Post

Mt Gox is always way higher than any other exchange. Looking @ 280 right now on btc-e

it will come back down, exchanges are printing money I swear. Manipulate supply, buy low, sell high

a lot easier when you can do all three of those at the right time, ALL THE TIME

ponzi scheme but with a critical bonus IMO, ponzi couldnt make the money he got be worth any more, these people can

So it's a PonziScheme Ti.
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post #47 of 47
Quote:
Originally Posted by fateswarm View Post

In any case, have fun with your russian money laundering currency.

This is ironic since Euros and USD likely make up the bulk of laundered money in Russia, and many places, for that matter.

Any illicit activity BTC is used for, I guarantee that Dollars are used for it 100 times as often.

And, of course, the presence of illicit uses does nothing to diminish the legitimate uses of a currency, or anything else, quite the opposite actually. Black and grey markets can propel a service to popularity, which makes legitimate uses that much easier to find. I just torrented LibreOffice at 7MB/s. Would I have been able do this if BitTorrent was never used for anything illicit? Hell no. Without piracy, BitTorrent would never have gotten off the ground, and I'd be limited to getting much legitimate software and reference materials via much slower means that were much more costly to those maintaining them.
Quote:
Originally Posted by lowfiwhiteguy View Post

So it's a PonziScheme Ti.

BTC itself? No.

Are there some exchanges that are? Absolutely.
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