Bitcoin billionaires

[boneil]

It might make it. You can bet the Governments of many countries are watching this with agencies like the IRS and Justice departments in all these countries. It won't fly without Government involvement, the Governments won't allow it.

And in a strange way, helps bitcoin. Every time a country comes out with new regs or banning it, the price goes higher. People want to use a currency that is free of gov't manipulation. We have it really good here in the US. The dollar is valued worldwide. You can buy anything with the dollar. But for how long? Other countries, their currency isn't as easy to use. If you lived in Venezuela, would you rather own the bolivar or bitcoin? In Japan, the yen or bitcoin? The Japanese love bitcoin and use it everywhere there.

Now that Wall Street is involved and is launching futures trading this month and next, there is no way, the Wall Street lobby will allow the US to ban it. Bitcoin may be here to stay.

[D.O.C. 989]

bitcoin is up 1462% ytd, etherium is up 6415% ytd, litecoin is up 2774% ytd. pretty good return most are missing out on.

Happy for you entreprenuer's.

[boneil]

So everyone investing in this is betting on the possibility of regular money becomes obsolete?

I think the IRS will tax you on the profits of bitcoin investment very very soon unless you only cash out a couple grands at a time.

Yes, I think paper money will become obsolete just like the barter system did and gold and silver did. Traders have to pay a tax on realized profits, just like stocks, its the responsibility of the trader to report those profits.

[Riccochet]

The whole point of bitcoin and crypto currencies is decentralized with no government involvement. Government might think they can get involved, but in reality they can't. They have zero control over bitcoin and can't stop it or regulate it when it's a worldwide entity. If business finds value in crypto then it will gladly accept and trade in crypto. The only place government comes in is trading crypto for FIAT currency.

[D.O.C. 989]

The only place government comes in is trading crypto for FIAT currency.[/QUOTE]

Which at some point has to happen or what good is it. When it gets to FIAT thats, when the Governments will accept you with open arms unless you destroy the Governments currency first at which point Countries would topple. Like i said, i wish all of you very good luck and hope you become millionairs it's the American dream for many!!

[D.O.C. 989]

Any thoughts on who orchestrated this exploitation?

On 6 August 2010, a major vulnerability in the bitcoin protocol was spotted. Transactions were not properly verified before they were included in the blockchain, which let users bypass bitcoin's economic restrictions and create an indefinite number of bitcoins.^[37][38] On 15 August, the vulnerability was exploited; over 184 billion bitcoins were generated in a single transaction, and sent to two addresses on the network. Within hours, the transaction was spotted and erased from the transaction log after the bug was fixed and the network forked to an updated version of the bitcoin protocol.

[4fishlips]

What happens when some one from has a way to tap into your phone and steals all your money, who will help you recover it

[D.O.C. 989]

What happens when some one from has a way to tap into your phone and steals all your money, who will help you recover it

That can't happen, no one can access any info on your phone. It is highly protected unlike the internet.

[RTex]

this whole thread for a day and no mention of the end times??

[Riccochet]

Seems like the only people bitter and apprehensive about crpyto are the ones not making money on it right now.

[idbefishing]

What happens when some one from has a way to tap into your phone and steals all your money, who will help you recover it

Apparently, the best way to protect it is you print out the paper form of it, lock it away then delete the electronic form. Convert it back to the electronic form when you want to use it. Ironic isn't it?

[idbefishing]

Seems like the only people bitter and apprehensive about crpyto are the ones not making money on it right now.

Bitter, not I. Apprehensive? yes. I would get in on it once it is more legit.

[5-Dinks]

this whole thread for a day and no mention of the end times??

I was thinking that but didn't feel like bringing that into the mix yet.

[RTex]

I was thinking that but didn't feel like bringing that into the mix yet.

[pavi69]

How much does a Ranger cost if I pay with bitcoin?

[motomania]

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Lots of retailers are starting to accept it, large banks taking notice, you don’t need a bank account to have it; just a smartphone, which are readily available, even in third world countries. And those people in third world countries won’t be dependent on their crappy countries government and currency, they’ll have the new universal standard of currency at their fingertips, being used the world over. No bank needed to use it, no paper money/coins/credit cards needed...........it’s kinda like what the internet is to the world........but it’s the internet of currency. It’s for the people, by the people.........but it still is the Wild West at the moment........so you gotta be VERY careful. Lotsa people jumping on board without proper research, will lose life savings.
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Its dizzying and complicated to understand; and I certainly don’t get all the ins and outs........so those that better understand it; feel free to correct me....... But, I see the potential and the Blockchain cryptocurrency runs on will greatly improve many industries outside of those currency related.

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Let me clarify above when I say ‘universal standard of currency’; I only meant it can be readily used by anyone in the world with a smartphone. Not that it will takeover the world and be mankind’s overlord.

[alli ss]

If you want to send us currency overseas it takes time- sometimes a long time. With the blockchain you can send a million in bitcoin to a guy in timbuktu almost instantly. The banks are seeing the benefit as are credit card folks like amex. Even amazon just invested in ripple- a technology that was around before bitcoin but didnt make it big league. Amazon will make it gold just like anything they get in on. Ripple is $.24 today. Imagine if youd put just $500 in bitcoin when it was $.24? We all waste more than that on things that are not near that good of a gamble why not just roll the dice? You can lose that much. If you got in on bitcoin just last month you would have doubled your money. Put $500 on bitcoin now and double it again. What do you have to lose? Heck put $100 on it if you cant swing 5. Im not recommending folks mortgage their houses and cash out retirements

[KellyJoe]

How much does a Ranger cost if I pay with bitcoin?

The same as USD. Find a dealer that accepts it or go through an exchange to convert it to USD then pay for it... It's not as hard as some of the "sky is falling" naysayers would have you believe.

[n2ratfishin]

If you want to send us currency overseas it takes time- sometimes a long time. With the blockchain you can send a million in bitcoin to a guy in timbuktu almost instantly. The banks are seeing the benefit as are credit card folks like amex. Even amazon just invested in ripple- a technology that was around before bitcoin but didnt make it big league. Amazon will make it gold just like anything they get in on. Ripple is $.24 today. Imagine if youd put just $500 in bitcoin when it was $.24? We all waste more than that on things that are not near that good of a gamble why not just roll the dice? You can lose that much. If you got in on bitcoin just last month you would have doubled your money. Put $500 on bitcoin now and double it again. What do you have to lose? Heck put $100 on it if you cant swing 5. Im not recommending folks mortgage their houses and cash out retirements

My wife and I were talking about this tonight. Without digging up my Fidelity account (I'm out of town and don't check it often anymore) about Thanksgiving 2013 when we made the job shifts and she was sitting home unemployed bored we had a friend talking to us about going to Colorado and recruiting execs to run legal marijuana companies. She told us about the money she had made in penny stocks with the dispensary machines and my wife started researching them while looking for work. She put 300.00 in some penny stocks. It took a month or so to see it back. We let it ride and have no idea what it is in there now? I DO know if we had taken that same 300.00 and risked it on Bitcoin, an equally risky move, what a return we would be looking at today!!

Like most of you I've got a prop hanging off my boat that has never made me a dime that cost more than those penny stocks, much less the pile of rod and reels in my rod locker.

My understanding back then was the only way to get them was to build super computers and "mine" them. Guess I should have done more research?

[alli ss]

No it was just harder than now. Mining was always an option as it is today. It was very hard before companies like coinbase came along but easy also is less transparent