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Bitcoin price quietly doubles

Discussion in 'Digital Currencies' started by Gun Ban Extremist, Nov 4, 2015.



  1. Gun Ban Extremist

    Gun Ban Extremist Seeker Seeker

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    It had been in the low $200s or below for a good many months, yet doubled since last week (around $440 as of now). The reasons given are all over the place, including new Chinese investment, positive media coverage, and an EU ruling that bitcoin is currency. I guess it's going to the moon again and no one even noticed.
     
    gringott likes this.
  2. Silvertoothtiger

    Silvertoothtiger Seeker Seeker

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    It's got a long way to go.

    I'm going to sell half of my Bitcoin every time it doubles, I will never run out.
     
    Cigarlover likes this.
  3. Silvertoothtiger

    Silvertoothtiger Seeker Seeker

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    Bitcoin has been on a tear for over a month after being dormant for a long time. Over just the past 30 days Bitcoin has risen from $250/BTC to $350/BTC. No, this is not attributable to a new Mt. Gox trading platform that has run rampant with hedge funds but rather a choice between BTC and the two other "safety assets" that will survive the coming chaos...Gold and Silver.

    Looking at the current Market Capitalization of the 3 BEST ABOVE GROUND safety nets tell me which looks more appealing:

    "ABOVE GROUND" MARKET CAP: Gold = $70 Trillion

    "ABOVE GROUND" MARKET CAP: Silver = $96 Billion

    "ABOVE GROUND" MARKET CAP: Bitcoin = $5 Billion

    Yes, Gold and especially Silver will also make a huge run very soon but Bitcoin still has a long, long way to go to "catch up" and the BIG MONEY players that have been slowly accumulating BTC are starting to panic so hang on tight to that Bitcoin Rocket as it blasts off into No-Man's land.

    Oh, and keep an eye on the CHINESE Bitcoin action at the below website during the evening hours(their daylight hours) as the Chinese are getting OUT of their traditional markets and INTO Bitcoin in droves!
     
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  4. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    bitcoin.jpg

    Looks to me like Chinese are using it to escape capital controls.
     
  5. earplugs

    earplugs Gold Chaser Platinum Bling

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    I hope you make a ton of money. Everyone I've talked to said they had their big big chance. They failed to capitaoize because the didn't listen to that inner voice.
     
  6. SilverCity

    SilverCity Gold Member Gold Chaser

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    Wake me when BitGOLD doubles...:bandito:

    SC
     
  7. Po'boy

    Po'boy Midas Member Midas Member Site Supporter

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    Trading one fiat currency for digital fiat, just seems odd.
    In the event of an emp what do ya trade with?
    Paper bitcoin iou?
     
  8. Mujahideen

    Mujahideen Black Member Midas Member

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    In the event of an emp, you won't be getting any money from your bank accounts, credit cards or atm, you also won't be buying anything at the register... And your car isn't going to work unless it's really old. So your paper dollars won't be worth squat shit hit the fan. Bitcoin ain't the only thing that would go down.

    Trading your currency for Bitcoin makes sense if the currency you are trading has tight government controls or is inflating away.
     
    gringott and D-FENZ like this.
  9. Po'boy

    Po'boy Midas Member Midas Member Site Supporter

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    Gold and silver.
    Emp proof.
     
    FunnyMoney likes this.
  10. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    I think the point is being missed, China capital controls, I would guess hard to move physical gold and silver out of the country, bitcoin goes around those capital controls so they can access it after they flee China. I suspect things are going down in China pretty quickly now in a financial sense. Plus remember they were freezing stock sales too. Capital is like water, looking for the cracks it can flow through.
     
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  11. earplugs

    earplugs Gold Chaser Platinum Bling

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    So all China has to do is regulate the central exchanges?
     
  12. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    I am sure that something like that will follow soon. Watch for the crackdown if too much Capital flees that they don't want to allow.
     
  13. SilverCity

    SilverCity Gold Member Gold Chaser

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    Wouldn't BitGold serve just as well?

    just sayin'

    SC
     
  14. Po'boy

    Po'boy Midas Member Midas Member Site Supporter

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    Exactly.
    Even just plain old pm sent by mail.
     
  15. SilverBuyer

    SilverBuyer Silver Member Silver Miner

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    Try sending it out of the country and then you are dealing with customs, possible confiscation if you are doing it to get around capital controls. Or crooked govt officials could just steal it as well.
     
  16. Po'boy

    Po'boy Midas Member Midas Member Site Supporter

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    Everything has risks.
     
  17. platinumdude

    platinumdude Gold Chaser Platinum Bling

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    Now it's down to $300.
     
  18. earplugs

    earplugs Gold Chaser Platinum Bling

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    [​IMG]
     

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