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Bitcoin passes gold

Discussion in 'Digital Currencies' started by Gun Ban Extremist, Mar 2, 2017.



  1. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    I took BTC profits too soon when I used most of my bitcoin faucet earnings to buy 2 oz's of silver from Provident metals on June 9, 2016. However, the good news is that I have .022 BTC left after buying 2 oz's silver and I will just treat that remaining 0.022 BTC balance as a "lottery ticket" and let it ride to see if it goes "to da moon" (i.e. $5000, $10,000 etc.). FWIW, I did briefly trade GBTC (Bitcoin Investment Trust)using my online trading account and made a total net trading profit of $76 from 2 trades after paying trading commissions. Now GBTC is at $150 but I got out of my last trade at $115.75. Hindsight is 20/20. Oh well. Even though I got out of GBTC too soon at $115.75, my 0.022 BTC "lottery ticket" increased in price and that BTC "lottery ticket" is up ~194% at the moment. I am not complaining. Just waiting for the major "to da moon" shot.
     
  2. Gun Ban Extremist

    Gun Ban Extremist Seeker Seeker

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    It says "10 millibitcoins" on it, which is 0.01 BTC. Still good appreciation, but not quite a 99% discount to the current price.
     
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  3. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Fair enough. I do want to say that the Bitcoin silver round pictured in the post that you quoted me have sold anywhere between $75 and $150 on ebay based on some past BIN auctions. I could have sold it on ebay and made a decent net FRN profit (after ebay/PP fees and shipping charge) but.............................I wanted to have some "physical bitcoin" in addition to some "digital bitcoin".

    :2 thumbs up:
     
  4. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Bitcoin is "stretching" its "lead" over gold................

    Bitcoin: $1513.73 (Based on most recent Coinbase BTC $ quote)

    Gold: $1237.80 (Based on most recent Kitco price quote)

    Bitcoin breaks $1500 on the upside for the 1st time ever. How long and how far will it continue to go up? Who knows.
     
  5. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Bitcoin is continuing to kick gold's a$$ this morning......................

    Bitcoin: $1572.56 (Based on most recent Coinbase BTC $ quote as of this post)

    Gold: $1234.70 (Based on most recent Kitco price quote as of this post)
     
  6. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    As of 1:04 PM, bitcoin reached and surpassed the $1600 handle (according to most recent Coinbase quote) for the 1st time in its short history.......

    Bitcoin: $1617.32 (Based on most recent Coinbase BTC $ quote as of this post)

    Gold: $1229.90 (Based on most recent Kitco price quote as of this post)
     
  7. solarion

    solarion Gold Member Gold Chaser

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    You'd think PMs would be reacting similarly relative to the buck given that ridiculous budget proposal. New POTUS, Repuke majority in CONgress, and yet the debt machine rolls on unabated, but metal markets don't seem to care...at least when measured in USDs.
     
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  8. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    Yeah bitcoin is doing what the metals should be doing given what is going on regarding Fed gov debt, fiscal spending, trump policies, etc.
     
  9. solarion

    solarion Gold Member Gold Chaser

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    Golly, I wonder what could possibly be suppressing metals that doesn't seem to affect bitcoin...
    [​IMG]
     
  10. Malus

    Malus Gold Chaser Platinum Bling

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    In a world gone mad....
    Gold is a way to preserve wealth, Bitcoin is a speculative investment. Why do people try to compare the two all the time. Why not talk about BTC vs oil/fish/toilet paper or other 'investments"? Or, is it just to try to get people not to sink their money into pm's? The last part was rhetorical.

    Bitcoin is "not" gold, never has nor will be. They are two totally different things and yet people talk like they are in direct competition with each other. They are not....
     
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  11. Silver Art

    Silver Art Silver Art Bar collector Platinum Bling

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    While it is true that gold is not bitcoin and bitcoin is not gold.........................

    Bitcoin: $1778 (as of latest Coinbase quote) ---> Continuing to go up

    Gold: $1219.80 (as of latest Kitco quote)---> Continuing to go down

    Just the facts.......................
     
  12. Joe King

    Joe King Gold Member Gold Chaser

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    Maybe it shoulda been called BTG? Ie: Better Than Gold? lol
     
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  13. southfork

    southfork Mother Lode Found Mother Lode

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    Somebody gona get burnt on it bad.
     
  14. solarion

    solarion Gold Member Gold Chaser

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    No doubt. That's how free markets work.

    Betcha the gumbymint isn't there to bail out the bitcoin losers.
     
  15. Joe King

    Joe King Gold Member Gold Chaser

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    I bet that guy who spent whole buncha BTG's on a pizza a few years ago is just kickin' himself in the @ss right now for not having the foresight to have kept them. Ended up being the most expensive pizza ever. lol
     
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  16. solarion

    solarion Gold Member Gold Chaser

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    Probably, but I've paid for more than a few things with bitcoin when they were far cheaper in USD terms myself and don't regret it, so who knows.

    It's just the nature of the beast when you're dealing with a deflationary currency.
     
  17. CrimsonGuardJay

    CrimsonGuardJay Silver Member Silver Miner

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    It was almost 9,000 btc if I recall.

    In other news I have 4 S9 miners on the way to me from China...

    I'll have to get an electrician in my house to add some 220volt outlets, then of course install extra dryer vents to get the hot exhaust gas out, then of course the noise thosenthings make...

    I'm now contemplating selling them off the moment I get them and just walking away from the whole thing.
     
  18. xhomerx10

    xhomerx10 Silver Member Silver Miner Site Supporter

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    Why doesn't anyone ever wonder about the guy who received the 10k Bitcoins? Jeremy Sturdivant aka jercos didn't keep all 10k Bitcoins either.
     
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  19. SilverBuyer

    SilverBuyer Silver Member Silver Miner

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    The guy who did it right was the one who forgot what at the time amounted to a trivial amount of bitcoin (at least in us dollar terms). He forgot he had the bitcoins till he seen the price rise in the news, was able to remember his password and had something like 7 million dollars worth of bitcoin in his account.
     
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