[MCNetwork]

Does anyone follow Bitcoin and the other cryptocurrencies? About 6 years ago, Sean started talking to me about it and I thought the concept was wacky. In fact, I think Bitcoins were the inspiration for his other site www.deBanked.com.

But if I just bought a few hundred coins when they were less than a dollar, I'd be a millionaire now! Is it just tulip mania or will Bitcoins be the future of currency?

[WestCoastFunding]

I see bitcoins as a religion, just like gold "investing". The $4,000 price tag is impressive, but make sure it's viewed more as a tech stock than a currency. I mean, sure, it's used to buy/swap things online, but a big chunk of the people holding the 21 million bitcoins are just hoarders/miners waiting (encouraging) others to use their butcoins in hopes of pushing up the price.

I guess it's cool to use to purchase black market **** and drugs online, but I'm not gonna use it as a currency. I think the only people it will appeal to are people that are truly paranoid about the Federal Reserve, and don't already hoard gold bullion in the Idaho bunkers.

As far as what it's backed by: nothing. No protections.

[MCNetwork]

Because of it's scarcity, Bitcoin is subject to massive deflation. People will be disincentivized to use it as standard currency. However, the offshoot Bitcoin Cash will probably be a more practical iteration of Bitcoin that can be used for mundane purposes. Other currencies, like Ethereum and NEO will change the way money is exchanged and smart contracts are conducted over the coming years and it will be interesting to see how they may affect loan transactions. I'm going to be investing in these coins.

[Randy]

Processing for bitcoin ...any business looking to accept bitcoin as a form of payment.As far as I know,the only one doing it spread the word����������

[Randy]

Processing for bitcoin ...any business looking to accept bitcoin as a form of payment.As far as I know,the only one doing it spread the word

[Randy]

And what is the US dollar back by exactly ...back by the same hype as bitcion

[WestCoastFunding]

And what is the US dollar back by exactly ...back by the same hype as bitcion

The full faith and credit of the US govt, which is sort of a big deal. Like MCA said, an owner of bitcoin is disencentized to use it -- which defeats the whole purpose of using it as a currency. If you want to treat it as a volatile investment, fine. But whats the point of using something so volatile as a currency?

[Karen37a]

The full faith and credit of the US govt, which is sort of a big deal. Like MCA said, an owner of bitcoin is disencentized to use it -- which defeats the whole purpose of using it as a currency. If you want to treat it as a volatile investment, fine. But whats the point of using something so volatile as a currency?

Us dollar and treasuries/bond are the safest investments in the world as West said ...backed by the full faith and credit of the USA ( if the usa went under the world would go under ) Bitcoin is a bubble with the concept of "buy on rumor sell on news" . the best benefit is that people can use it to have untraceable events happen.

People have bit coin vaults; they are crazy, they could wake up and poof gone and you can deal with shady cloud miners

The whole concept is wacky and hard to wrap your mind around.

[MCNetwork]

Goldman Sachs is on the verge of giving bitcoin their seal of approval (hopefully). Once that happens, you'll start seeing mass adoption and then the price will take off!

[Karen37a]

Goldman Sachs is on the verge of giving bitcoin their seal of approval (hopefully). Once that happens, you'll start seeing mass adoption and then the price will take off!

** new point-counterpoint person...hmmm

Goldman said that they would have a sperate division for cryptocurrency Jamie Dimon who coined bitcoin a fraud, also said its like tulip mania

“The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.”

“It is worse than tulips bulbs,” Dimon said, referring to a famous market bubble from the 1600

Others disagree.Someone see it as a great investment and creating a hedge fund.

I see it from a quantitive analysis side and qualitative. and to make something out of the air and call it a currency is insane. But as long as someone is willing to buy it, it stays afloat.

They are using it for money laundering purposes, huge drug transactions, money in money out no taxes and as soon as the Govt gets ahold of it POOF ...its loses its main attraction.

Its dangerous in my opinion ...but mine away...people can make money during bubbles...maybe it gets backed by something one day like the dollar was with gold...doubt it.( becausse someone trades something of real tangible value for air)

Again too big a concept for me to wrap my mind around...like infinity and the big bang how did it start, what was there before it

[HGCap]

Good Afternoon All! I'm glad to see everyone trying to get Monies, but more importantly, let's talk on reputable Company's we should be sending File's to..

And of course, speak on those that are not reputable. Case in Point, Consolidated Funding out of Miami, run by a character by the name of Kenneth Shaw.

Its been 1 Full Year, that this individual has not sent me my commission's on a deal I put through Him as an ISO. Fortunately, I had some honest client's, and they let me know when they Funded.

I have proof with an e-mail thread you won't believe, and a Letter from the ONE AND ONLY Kenneth Shaw stating that I do Business with Him and he look's forward to many more closing's with ME.

Of course he was looking forward to that, since he'd back door me, and keep the client's.

Don't fall for that slick talking. I hope He respond's so I can put up the thread with the blackmail insinuations. The floor is Your's Consolidated Funding.

[MCNetwork]

Bitcoin moving towards $5,000 and hopefully beyond!

[Karen37a]

Bitcoin moving towards $5,000 and hopefully beyond!

Are there only so many bitcoins to mine? And it gets harder and more scarce then end?

[MCNetwork]

Yes there are only 21 million bitcoins that will be ever mined. So far they've mined about 75% of that amount but it's becoming super hard to mine additional ones...

[Karen37a]

Yes there are only 21 million bitcoins that will be ever mined. So far they've mined about 75% of that amount but it's becoming super hard to mine additional ones...

So that could swing either way...hard to mine...party is over

hard to mine...rare like a Diamond ( cant hold with no infusion or incentive to mine)

The party will end imo...when is the key. ( could extend out )

Unless they spread out more bitcoin, that will be like "stock split" 2-20 million to 1 ...

Then they tax and regulate...loses its main attraction

in my limited opinion**

[MCNetwork]

The bitcoin is easily divisible (i.e., 0.000000001 bitcoin) so you don't need to mine more. The incentive to mine is that the miners still get a piece of the transaction costs for each bitcoin that exchanges hands.

[Karen37a]

The bitcoin is easily divisible (i.e., 0.000000001 bitcoin) so you don't need to mine more. The incentive to mine is that the miners still get a piece of the transaction costs for each bitcoin that exchanges hands.

My meaning or thinking was...it would then be more like a fad and its attraction would wear off. Unless new people were incentivized to mine for more.( if there are none left or very few or it becomes too hard). All the frenzied people cant have bitcoin seminars and books and "how to" meetings.

It would be like owning a stock at whatever price $500....and it halts ...

Stockbrokers didn't see the dot-com crash coming...Big investment banks never thought real estate would tank. They couldn't grasp the idea that even though its real estate ( you can touch it ) it could devalue in price and I luckily sold off into the high

( I couldn't go to any party or dinner without someone saying "hey have you heard about csco", in the 90s...I would say yes I bought it before it split 1 zillion times and sold it its worth $3... then the fights would start about how its $300 and I do not know what I am talking about)

When a box boy in the supermarket that I knew from grade school was chasing me up and down the aisles saying "so what do you think about Cisco" I walked off the stockmarket...sold and left.

I finally understood what the saying "when the shoe shine boy is giving you tips, its time to leave the market" really really really meant

Aig couldn't grasp the concept either, in essence "insuring" mortgages worldwide thru default swaps, to almost take the world under. I was embarrassed to say " i was a Master general agent for AIG " for years. They become the world's enemy and a scapegoat.

I have been in too many bubbles...including the last mca/funding/lending bubble....I personally do not like it as a long-term thing. I think its going to pop.

I do not want to jinx or "short" your position if you are in it...maybe I am wrong.

What happens if it gets regulated? I do not think they can keep going not being regulated if it's being used as a "currency"

[Karen37a]

Waking up at 2 am to some bum hawking books on TV saying

" you too can flip homesssssssssssssss"

made me sell off ..real estate crash. This board alerted me to the dangers of doing business with certain people. Horrible, just horrible

Cant wait for the next upswing...like a roller coaster ride

[Karen37a]

https://www.cnbc.com/2017/10/18/bitc...egulators.html

Bitcoin plunges on fears of regulation.... ( it recovered before people have a heart attack)

[MCNetwork]

Bitcoin will go to the moon! I've just been dollar cost averaging a consistent amount every 2 weeks into it. Hopefully it will reach $100,000 soon!

https://www.cryptocoinsnews.com/stoc...-price-target/

[Zach]

$6,000 now...

[Karen37a]

https://www.cnbc.com/2017/10/21/bitc...cord-high.html


That's because of the "split" I mentioned and china might take regulations off ( rumor)
I hope it goes to 10k for some....If it gets regulated it will go to almost 0 overnight...if they breath "serious regulations" near it It will tank.

Like the Mca industry did
__
*** I think they have a serious chance of being regulated, just so the govt can get it hands on it

So I think it's either 10k or 1k...( to buy it now is foolish in my opinion, to not sell off half and take a profit and ride the balance out isnt prudent ..again imo if you take bitcoin for the purchase of something and it tanks right after you exchanged it for something of value, that wouldnt be a great move either )

( as a stockbroker in the past this was the worst position to be in)...if it goes up and you sold...they yell at you( sue you)...down and you held, they sue you.

lose lose lose situation on recommendations ( I learned to sell half and say hey if it goes up you are still in it, down you sold half, never got yelled at)

wow it went up, good thing you held onto half, omg it went down, good thing you sold half

.....** ask the advice of a reputable investment advisor..not a buy-sell hold recommendation..just a comment


.big new office( construction thru the adjoining walls)...ill will soon snap the pictures and then say ""deuces"

[MCNetwork]

A long but great article on the challenges Bitcoin is currently facing

http://www.forbes.com/sites/laurashi.../#6bbde87e3d3c

[Nunya]

$7k here we come?

[MCNetwork]

7K?? It's just getting started! It's going to $100K!