Bitcoin Just Broke $100 and Topped $1 Billion

Someone needs to come out with another kind of digital currency so it;s not all Bitcoin dominant.

It needs to be decentralized and put in check by other currencies. The reason its so high is because its the only digital currency out there

Just out of curiosity, what happens when the internet gets shut down? What happens if there is some kind of world-wide power failure? Please, don't say, "that could never happen". How can you be so sure?

reply to post by shhhhhh


Like your Bank account everything just stays frozen.. it does not go away... But can you imagine if the net did go down,, wow,,, that's a big event bitcoin or no bitcoin...

Double

I don't like (Bitcoin) and I never will; to me it is just not a trustworthy place to place my money.

I like currency and coin that I can hold in my hands.

reply to post by dominicus
Lol they have you just have not heard about them...

Bitcoin
Litecoin
PPCoin
Nova Coin
NameCoin
+more

Originally posted by caladonea
I don't like (Bitcoin) and I never will; to me it is just not a trustworthy place to place my money.

I like currency and coin that I can hold in my hands.

Currency that has Rothschild Fractional Reserve Lending applied to it awww how nice

If your too A-Scared to ride the Crypto Train the please at least buy Gold and Silver. Don't hold USD :'(

reply to post by caladonea
You can buy physical Bitcoins by the way............. Hand held and everything ^.^

Originally posted by TheNewRevolution

There is no physical existential value to this currency. It can be taken from you by hackers. It can be deleted at a moments notice. If the sun decided to flare up - all of it would be gone and $1 billion dollars would disappear from bank accounts overnight.... ...The only way a currency will ever be worth anything is if it is physically backed by something.

The fact that bitcoin reached $115 today would suggest otherwise.

Listen, I understand that physical money needs to back by something
of value--something tangible. However, we are talking about virtual money
that is used on the Internet for virtuall products and virtual services... and
that changed the equation some what, don't you think?

You seem to be making the Ron Paul (only Gold and Silver is money)
argument. We've all heard people like him say the US Dollar is being
printed out of thin air (or entered on a computer screen) and it is backed
by nothing... really? nothing? actually, it is back by the United States
military... and our secret agreement with OPEC where by they agree
to only sell oil in dollars.. as John Perkins says, this effectively allows
us to tax the whole world and run a global empire... so in point of fact
our money is backed by something... one time even Ron Paul came
very close to admitted this, (see video) He said, "there is a theory and
it is worth studying that this is why Saddam got in trouble."






As I posted before, if the grid went down because of a CME
it would spell the end for humanity.... but the bitcoins on my
USB drive would survive. (here is the reason why)

Putting the Armageddon issue to the side, having one's bitcoins
in cold-storage (on a USB flash drive) make it impossible to be
taken from you by hackers or scam on-line wallets. So this
argument can be dispensed with right now. It is bogus.

In short, as long as the world has email, the world will have bitcoin.
Now, do you seriously, see a future without email? I don't.

reply to post by wasaka


I don't understand the thinking about CMEs WW3 and all the other things, what does that have to do with bitcoins.. Think about it, if you have a 401k or credit cards any stocks. all these things would be impaired,

A lot of people have pensions or debt cards, so what happens to them...
and people that have stocks do they lose value can you access them,,
I get people hate new things, nobody is saying spend everything you have buying these coins.. bitcoin is just another tool to use, Like a stock or options bonds,, what backs them what gives them value, right now bitcoins or just as secure as any stock bond option debt card, there is a risk in all these instruments.. If you think cash in the bank is secure, Aaa never mind..

so do research, if you don't like them don't buy them,,

Originally posted by TheNewRevolution

Fulfilling Thomas Jefferson's dream? Jefferson's dream was fulfilled when the Revolution was fought and the colonist's moved away from the central bank of England and the Treasury and Congress took over monetary rights and thus THE PEOPLE took over the monetary rights of the nation. Hamilton installed the first Central Bank, and it dissolved in 1811. Madison created the Second Central Bank which laster until Jackson destroyed that. From 1837-1913 the United States had its freedom from a Central Bank. Jefferson had his dream and the Federal Reserve has crushed it ever since.

Yes, that is all true... but you forgot to mention that prior to the Revolution
the people used Colonial Script. (read about it here) Also, Jefferson fully
expect the American people would have to fight another revolution in
one generation because he knew the money powers would never stop
trying to get their greedy hands in our pockets.

The first law regulating Colonial Script was passed by the British
Parliament 1751, then expanded by a more restrictive law in 1763.
Benjamin Franklin identified this as the real reason for the
War of Independence:

"The refusal of King George to operate an HONEST colonial MONEY SYSTEM which freed the ordinary man from the clutches of the manipulators was probably the prime cause of the Revolution....The Colonies would gladly have borne the little tax on tea and other matters, had it not been that England took away from the Colonies their money, which created unemployment and dis-satisfaction."

Here we see the cause of poverty, unemployment and financial insecurity.
There can be no personal liberty without financial freedom.
There can be no honest government without honest money.

Of course Jefferson knew this. Conspiracy theorists allege that Alexander
Hamilton acted as an agent of the Rothschild family when he helped create
the First National Bank... as you know, Jefferson opposed this, and he
prophesized what would happen to America if we ever lost the inalienable
right to issue our own money.

"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them, will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered."

Look at us now.

If Jefferson could have seen our day, and the potential that bitcoin affords us
to break free of the money-changers control, don't you think he would have
encouraged us to use it? I do. Consider the following quotes:

"The system of banking we have both equally and ever reprobated. I contemplate it as a blot left in all our constitutions, which, if not covered, will end in their destruction, ... I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale."

Thomas Jefferson, in a letter to John Taylor, May 28, 1816.

Has this "blot left in our constitutions" been covered yet?
Have our constitutions ended in "destruction"?
What can be done about?

In another place, Jefferson expanded upon this: "I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance... THE ISSUING POWER SHOULD BE TAKEN FROM THE BANKS AND RESTORED TO THE PEOPLE TO WHOM IT PROPERLY BELONGS."

Aristotle has been called the first Christian (because his view were similar) and by the same token, one might say that Jefferson was the original American advocate of bitcoin. He stood against the status quo in general and the bankers in particular... so there is no doubt in my mind were he living today, he would have a bid stash of cash in cold storage in an encrypted USB drive.

Originally posted by sk8ter
reply to post by wasaka

 

I don't understand the thinking about CMEs WW3 and all the other things, what does that have to do with bitcoins.. Aaa never mind..

On this thread three people raised the issue of an EMP bringing down
the electric grid and how, if that happened, you might see your wealth
in bitcoin wiped out...

I was just pointing out that in such a case the bitcoin would survive but
humanity would not... (because after 2 weeks the back-up generators
run out of gas and BANG you have 400 plus fukushima going off all
over the world).

The answer to most fears about bitcoin can be answered with this
one simple piece of advice: put them on a USB flash drive!

Read this page to learn more:
bitcoinarmory.com...

Two good articles about bitcoin just hit the wire today, quotes to follow:

What The Rise Of Bitcoin Teaches Us About Money

One of the more interesting elements of Bitcoin is its rise as a purely endogenous form of money. I often refer to bank money as endogenous in that it is created entirely INSIDE the private sector, but even bank money exists on a centralized system (the US payments system) that is regulated by US government law. But Bitcoin is completely decentralized and a purely endogenous form of money. So the decentralization creates a form of money that has grown entirely independent of government and its taxes. In other words, Bitcoin proves that money can exist ENTIRELY for the private purpose for the means of transaction. This not only shows that money can be entirely endogenous and independent of government, but that it can also grow entirely independent of government taxation.

Read more: pragcap.com...

and

Bitcoin Is The Perfect Asset Bubble -- Prices Could Go Vastly Higher From Here

The premise and promise of Bitcoin--the part that appeals to folks who don't happen to be gold bugs, conspiracy theorists, or cryptography geeks (obviously they all love it)--is that the current plan is for only a finite number of Bitcoins to be created. This is in direct contrast to standard government-issued currencies, which governments can always print more of. If the supply of Bitcoins remains finite, this should theoretically eliminate inflation, which is one of the biggest drawbacks of paper money.

Read more: www.businessinsider.com...

Originally posted by Mandrakerealmz
reply to post by Komodo

 

I convert it back to NZD to spend at the moment. I made money and it has helped me pay bills and medical bills I have been putting off ^.^

So now my health is massively improving and i'm not stressing about money. In those ways its changed my life.

Edit: to clarify. I made money off day trading between the various currencies. Not by just buying BTC and holding. (although that too would have made money)

as the perceived value has risen.

But I made my money by Day Trading.

edit on 2-4-2013 by Mandrakerealmz because: (no reason given)

thx for clairifing that ..

) 2nd to be sure

134

It was at 119 when I went to work yesterday... that up $15 in 24 hours for the second day in a roll.

Amazing

SELL!!! Bitcoins hit my Intermediate Target area around $145 (top of w3) and we will now undergo a major correction (< 100 and >50...probably down to 90 then up to 120-130 and then down to 50-60) before a Final Blow Off. "Danger, Danger, Will Robinson!" Take profits up here.

reply to post by CosmicCitizen
Such words belong in the troll box lol ^.^ you arnt gonna Panic people into selling on ATS lol.

reply to post by dominicus

I was thinking the same thing today and the presence of a competitor would allow arbitrage opportunities also which would greatly increase liquidity of "market makers".

reply to post by Mandrakerealmz

I am just reading the charts and I was calling for a mini blow off to the 145 area before the fact (different thread). If you buy it up here be prepared to see it loose at least 1/3 of its value before making a significantly higher high.
Just a "tea leaves" reader - no agenda here.

The prices are definitely looking a bit volatile now, fluctuating between 125 and 145 quite a bit.

I think there is still more climbing to come, though. More and more legit businesses are accepting it as payment, not just underground services of questionable legality. Wordpress and Reddit, for example, accept it as payment.

What's more, Bitcoin ATM's are on their way to the US soon, according to a CNN article published today:
money.cnn.com...

42-year-old media entrepreneur Jeff Berwick hopes to bring Bitcoin ATMs to a city near you soon.
Berwick expects to put the first two ATMs in Los Angeles and Cyprus in the next two weeks and is choosing between several different retail locations in both areas. He added that orders are coming in by the hundreds from 30 different countries.