Anybody familiar with BitCoin

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Boomer.....

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If anybody followed @internationalaw's advice...you'd be up almost 1,000% since his OP. For comparison sake, the Iraqi Dinar is basically flat over the same time period. Not sure about the tulip market.

Ultimately Bitcoin suffers from the same problems it did in April and will continue to suffer for the foreseeable future...low barriers to entry (see Coinye), but it has benefited from broad acceptance compared to the other virtual currencies...at least for the time being which explains the price escalation. I'm surprised that Amazon and/or Ebay (Paypal) hasn't created a virtual currency yet. They are sitting on a gold mine and brand recognition would surely give it instant cred.
 
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Was in one of the Tesla showrooms right before Christmas out in Silicon Valley. Cars are beautiful ... sticker 118k ave on the models on the floor. Shares trade at 100 times 2014 estimated earnings ... too rich for me ... but they ran straight up in 2013 so I missed it. Oh well. On Bitcoin, wouldn't surprise me if it went up tenfold from here. Too much of a gamble for me ... about the only thing I feel very comfortable saying is sometime it will probably lose at least 80% of its value ... not necessarily forever, but a cycle top to a cycle bottom. Even the big tech stocks that are still around did that a decade plus ago ... and these companies have a proven history of being super profitable. Bitcoin to me is a virtual commodity ... most akin to gold far as real commodities go. I'd own Bitcoin before I'd own gold just cause I think gold goes lower over the next few years. Just a guess, not real insight, but that view fits fairly well with historical trading patterns for gold cycles relative to equity cycles.
 
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I think the two things TSLA has going for it is Elon Musk and their battery technology is well advanced of anyone's and that's a huge plus. Elon Musk is brilliant. I have a huge issue with the valuation as well...considering that they sold around 5500 cars in Q3 and GM sold 2.4m in Q3...and TSLA has a mkt cap roughly 1/3 of GM's. With that said, TSLA is a tech company more than a car company at this point.

I'm with you on gold. Gold is in a nasty bear market. If it gets below $1000, I'll give it a look. Bitcoin has far more short term promise...however Bitcoin isn't liquid enough for me to consider.
 

Jostate

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I'd own Bitcoin before I'd own gold just cause I think gold goes lower over the next few years. Just a guess, not real insight, but that view fits fairly well with historical trading patterns for gold cycles relative to equity cycles.
Peter Lynch said something along the lines of an investment is horrible when the cab driver is excited about it. I don't claim to know much about gold and the gold charts but I've watched enough Fox News to know there are a lot of old people who have bought gold in some form in recent years on the idea that it's safer than most investments because it clinks when you shake it. One of these days that snowball is going to start downhill and all the Aunt Ethels out there are going to freak out when they find out it's just another commodity.
 

StillwaterTownie

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It's surely best to invest based on the opposite of what human nature tells you, starting when the stock market is lower than it has been in years, and no one wants to buy or hear anything about the stock market. So by the time the taxi driver starts talking about the stock market, you're more than ready to take it as a sign to get out from already having made a killing.
 
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The stolen Bitcoins, that exchange shutting down. That's stuff we wouldn't accept from a real currency.

There are going to always be risk takers, but for Bitcoin to grow and become more than a fad there needs to be mainstream acceptance. There is none of that without trust
 

Donnyboy

Lettin' the high times carry the low....
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What's the saying.....

When there is virtual currency in the street..... buy bandwidth?
 

CTeamPoke

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The stolen Bitcoins, that exchange shutting down. That's stuff we wouldn't accept from a real currency.

There are going to always be risk takers, but for Bitcoin to grow and become more than a fad there needs to be mainstream acceptance. There is none of that without trust
Which is why from the start I've said the system is flawed.