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Thread: Bitcoin bouncing back

  1. #1

    Bitcoin bouncing back

    It's back up to over $100.00. I hate that because of my financial position I wasn't able to buy on the dip. Mike Adams and others who declare "Bitcoin is dead" are clueless. Gold dipped at the same time and they didn't declare "Gold is dead." Who cares if Amazon isn't going to accept Bitcoin? (Amazon's come up with their own version). With services like BitInstant that doesn't matter. And no, I'm not someone "pumping Bitcoins because I've got a lot of them." I have a tiny amount that I got for free. But I see a decent future for Bitcoin. A dip here or there doesn't bother me. Investing your IRA in Bitcoins? Stupid. Investing money you don't mind losing in Bitcoin? Good idea IMO. Using Bitcoin as a PayPal alternative? Best idea yet.
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    The road to hell is paved with good intentions. No need to make it a superhighway.
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  3. #2
    I'm going to go out on a limb and say that Alex Jones once again showed who he really works for.

    To proclaim bitcoin as "dead" at this point is just beyond ridiculous.

    I just wish I had the money to buy some more at this dip.

  4. #3
    Alex Jones isn't an economist -- I don't get why you just assume because of that he is a disinfo agent... Mike Adams on the other hand... he just may be a moron. But anyways, I agree, Bitcoin is far from over and I hope that all you investors make out well in the long run.
    Last edited by VoteRandPaul2016; 04-13-2013 at 06:44 AM.

  5. #4
    Litecoin is still out there for smaller investment. I'm still a bit undecided on litecoin. However it's been floating around 1/50 the cost of bitcoin and can be exchanged back and forth. Went down to 1.30 and is back to 2.50.

    I converted a few btc to ltc and I hear Silk Road is starting to accept litecoin. Their infrastructure is still weak for service offerings and it's almost like bitcoin was 2 years ago. However some may be interested in it.

    btc-e.com is a multi alt-currency exchange that handles them
    “…let us teach them that all who draw breath are of equal worth, and that those who seek to press heel upon the throat of liberty, will fall to the cry of FREEDOM!!!” – Spartacus, War of the Damned

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  6. #5

  7. #6
    Quote Originally Posted by jmdrake View Post
    Mike Adams and others who declare "Bitcoin is dead" are clueless. Gold dipped at the same time and they didn't declare "Gold is dead."
    The fact that you just compared bit coin with gold shows how clueless you are. Bit Coin will die, it is just not totally dead yet.

  8. #7
    Quote Originally Posted by RickyJ View Post
    The fact that you just compared bit coin with gold shows how clueless you are. Bit Coin will die, it is just not totally dead yet.
    That's your opinion and your certainly welcome to it. According to the Bible, eventually gold will be worthless. So one could say gold will die, it is just not totally dead yet. The point, that went over your clueless head, is that this latest dip in bitcoin is really proof of nothing.
    9/11 Thermate experiments

    Winston Churchhill on why the U.S. should have stayed OUT of World War I

    "I am so %^&*^ sick of this cult of Ron Paul. The Paulites. What is with these %^&*^ people? Why are there so many of them?" YouTube rant by "TheAmazingAtheist"

    "We as a country have lost faith and confidence in freedom." -- Ron Paul

    "It can be a challenge to follow the pronouncements of President Trump, as he often seems to change his position on any number of items from week to week, or from day to day, or even from minute to minute." -- Ron Paul
    Quote Originally Posted by Brian4Liberty View Post
    The road to hell is paved with good intentions. No need to make it a superhighway.
    Quote Originally Posted by osan View Post
    The only way I see Trump as likely to affect any real change would be through martial law, and that has zero chances of success without strong buy-in by the JCS at the very minimum.

  9. #8
    Quote Originally Posted by Petar View Post
    I'm going to go out on a limb and say that Alex Jones once again showed who he really works for.

    To proclaim bitcoin as "dead" at this point is just beyond ridiculous.

    I just wish I had the money to buy some more at this dip.
    I'm still not throwing AJ out, but the attack on Bitcoin, coupled with recent pumping for war against North Korea of all places, is troubling. It's interesting how he and Mike Adams kept saying "We're all for crypto currency. We just don't like Bitcoin." What do the see in their mind's eye of the "perfect crypto currency" that won't be vulnerable, at least in the early stages, to the same kinds of wild swings that Bitcoin is?
    9/11 Thermate experiments

    Winston Churchhill on why the U.S. should have stayed OUT of World War I

    "I am so %^&*^ sick of this cult of Ron Paul. The Paulites. What is with these %^&*^ people? Why are there so many of them?" YouTube rant by "TheAmazingAtheist"

    "We as a country have lost faith and confidence in freedom." -- Ron Paul

    "It can be a challenge to follow the pronouncements of President Trump, as he often seems to change his position on any number of items from week to week, or from day to day, or even from minute to minute." -- Ron Paul
    Quote Originally Posted by Brian4Liberty View Post
    The road to hell is paved with good intentions. No need to make it a superhighway.
    Quote Originally Posted by osan View Post
    The only way I see Trump as likely to affect any real change would be through martial law, and that has zero chances of success without strong buy-in by the JCS at the very minimum.



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  11. #9
    The world of Bitcoin: up, up, crash, up, up crash, up, up crash.

    Too unstable and vulnerable.

  12. #10
    Quote Originally Posted by jmdrake View Post
    I'm still not throwing AJ out, but the attack on Bitcoin, coupled with recent pumping for war against North Korea of all places, is troubling. It's interesting how he and Mike Adams kept saying "We're all for crypto currency. We just don't like Bitcoin." What do the see in their mind's eye of the "perfect crypto currency" that won't be vulnerable, at least in the early stages, to the same kinds of wild swings that Bitcoin is?
    He's right about Bitcoin but wrong to go on about NK. I've not listened to yesterday's show but he's now correctly telling his audience that the nukes are obviously from China which is thanks largely to Bill Clinton

  13. #11
    Quote Originally Posted by VoteRandPaul2016 View Post
    Alex Jones isn't an economist -- I don't get why you just assume because of that he is a disinfo agent... Mike Adams on the other hand... he just may be a moron. But anyways, I agree, Bitcoin is far from over and I hope that all you investors make out well in the long run.
    We've discussed this at length in the Mike Adams thread. He made the prediction 24 hours before the epic crash. The prediction is right there on YouTube for all to see and enjoy.

    He told you in plain English what was going to happen. Maybe you should listen?

    Here's the problem with Bitcoin:

    The biggest holders of bitcoins are drug dealers, Kimble, hackers, early adopters and whoever the $#@! is mining them with insane computer power. These people are just going to keep waiting for the price to go up thanks to the hype from Kaiser and co and then dump their bitcoins on the market and exit.

    So it's just going to keep going up, crashing, recovering, crashing. Rinse and repeat.

    Being in the market is insane. I wish you luck but it's not for me.

    Then once we've had several of these crashes Chucky Schumer writes his Protect America From Drugs In The Mail Act which will take aim at the exchanges and any bank account that deals with them or deals in bitcoin. This will make people bailout and send the price to virtually nothing or back down to the 2-5$ of which it was before 2011 and which in my view represents their fair value minus all the hype and bluster.
    Last edited by itshappening; 04-13-2013 at 02:22 PM.

  14. #12
    Quote Originally Posted by itshappening View Post
    We've discussed this at length in the Mike Adams thread. He made the prediction before the epic crash.

    He told you in plain English what was going to happen. Maybe you should listen?

    Here's the problem with Bitcoin:

    The biggest holders of bitcoins are drug dealers, Kimble, hackers, early adopters and whoever the $#@! is mining them with insane computer power. These people are just going to keep waitinghttp://www.ronpaulforums.com/editpost.php?p=4972943&do=editpost for the price to go up thanks to the hype from Kaiser and co and then dump their bitcoins on the market and exit.

    So it's just going to keep going up, crashing, recovering, crashing. Rinse and repeat.

    Being in the market is insane. I wish you luck but it's not for me.

    Then once we've had several of these crashes Chucky Schumer writes his Protect America From Drugs In The Mail Act which will take aim at the exchanges and any bank account that deals with them or deals in bitcoin. This will make people bailout and send the price to virtually nothing or back down to the 2-5$ of which it was before 2011 and which in my view represents their fair value minus all the hype and bluster.
    Dude Mike Adams didn't predict $#@!...LOL When prices rise, prices fall...lol

    Mike Adams is a crazy conspiracy theorist. He gives credible conspiracies a bad name. He's afraid of the lizard j00's and various stuff...lol

  15. #13
    Quote Originally Posted by RickyJ View Post
    The fact that you just compared bit coin with gold shows how clueless you are. Bit Coin will die, it is just not totally dead yet.


    Replace the word "metal" with "bitcoin."
    I'm an adventurer, writer and bitcoin market analyst.

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  16. #14

  17. #15
    Quote Originally Posted by kpitcher View Post
    Litecoin is still out there for smaller investment. I'm still a bit undecided on litecoin. However it's been floating around 1/50 the cost of bitcoin and can be exchanged back and forth. Went down to 1.30 and is back to 2.50.

    I converted a few btc to ltc and I hear Silk Road is starting to accept litecoin. Their infrastructure is still weak for service offerings and it's almost like bitcoin was 2 years ago. However some may be interested in it.

    btc-e.com is a multi alt-currency exchange that handles them
    I believe Litecoin will be the next virtual currency to go up, maybe not as high as Bitcoin did, but I'm thinking it will end up being to Bitcoin, what silver is to gold. When the market crashed and Litecoins went almost to $1 from their previous high of $5 or 6, I bought 4,063 coins. I'm just planning to hold them for the long term to see where it goes. I think it will work out for me in the end. If not, at least I tried.

    One thing to note is that more places are going to start accepting it which should boost the price. Yesterday MtGox confirmed on Reddit that they're going to be integrating Litecoin within the next 2 weeks. They were going to do it earlier but the recent crash has pushed back their plans. With this in place, traders won't have to buy back in dollars anymore. They'll be able to switch between Bitcoins and Litecoins if they wanted to.

    About all the Bitcoin is dead talk, I think it just really needs time to evolve, more exchanges, better support, etc... I think we'll see Bitcoin stabilize more as time goes on.
    Last edited by Sentinelrv; 04-13-2013 at 02:34 PM.

  18. #16
    Quote Originally Posted by itshappening View Post
    So it's just going to keep going up, crashing, recovering, crashing. Rinse and repeat.
    I'm thinking that over time BTC will be acquired and spread out over more and more people that simply want to switch currencies to avoid fiat money hyper inflation. Rather than for speculative reasons. I would think at that point the speculative nature would be much like any current trading of one currency for another.
    Last edited by anaconda; 04-13-2013 at 02:32 PM.



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  20. #17
    Quote Originally Posted by itshappening View Post
    The world of Bitcoin: up, up, crash, up, up crash, up, up crash.

    Too unstable and vulnerable.
    It could stabilize at some point in the future. Even you couldn't possibly predict that it will always be unstable, so to say that is disingenuous at best.
    I'm an adventurer, writer and bitcoin market analyst.

    Buy my book for $11.49 (reduced):

    Website: http://www.grandtstories.com/

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  21. #18
    Quote Originally Posted by itshappening View Post
    The point was it's not that hard to predict.
    I'm an adventurer, writer and bitcoin market analyst.

    Buy my book for $11.49 (reduced):

    Website: http://www.grandtstories.com/

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  22. #19
    Quote Originally Posted by anaconda View Post
    I'm thinking that over time BTC will be acquired and spread out over more and more people that simply want to switch currencies to avoid fiat money hyper inflation. Rather than for speculative reasons. I would think at that point the speculative nature would be much like any current trading of one currency for another.
    By this time Chucky Schumer will have it outlawed and the exchanges will be brought down.

  23. #20
    Quote Originally Posted by PaulConventionWV View Post
    It could stabilize at some point in the future. Even you couldn't possibly predict that it will always be unstable, so to say that is disingenuous at best.
    It may and should in theory at some point once all this crap has been ironed out but by that time the US government will have it shut down.

    Do you think they're stupid? We're talking about the most ruthless, biggest and most powerful government probably in history and they're going to come after BITCOIN, MTGOX and every other exchange when they feel like the time is right and they will do it through the international banking system which are all connected to Washington. Any bank that deals with a bitcoin exchange will be threatened.

    So your bitcoins will be worthless. You wont be able to cash them out anywhere.

    One the legislation is primed and going through Congres the big holders of bitcoin will see the writing on the wall and bail at whatever price they can get. Then it will go back to a dollar or two (or less).

  24. #21
    Quote Originally Posted by itshappening View Post
    @ 4:30 Mike Adams says "They will become a good value to buy once the crash has happened Alex." Soooo....why all the "Bitcoin is dead" talk in Mike Adams is (was) actually right?
    9/11 Thermate experiments

    Winston Churchhill on why the U.S. should have stayed OUT of World War I

    "I am so %^&*^ sick of this cult of Ron Paul. The Paulites. What is with these %^&*^ people? Why are there so many of them?" YouTube rant by "TheAmazingAtheist"

    "We as a country have lost faith and confidence in freedom." -- Ron Paul

    "It can be a challenge to follow the pronouncements of President Trump, as he often seems to change his position on any number of items from week to week, or from day to day, or even from minute to minute." -- Ron Paul
    Quote Originally Posted by Brian4Liberty View Post
    The road to hell is paved with good intentions. No need to make it a superhighway.
    Quote Originally Posted by osan View Post
    The only way I see Trump as likely to affect any real change would be through martial law, and that has zero chances of success without strong buy-in by the JCS at the very minimum.

  25. #22
    When the price of BTC rises again, I predict there will be profit takers and the price will fall.

    QUICK, book me on Alex Jones! ZOMG...lol

  26. #23
    Quote Originally Posted by itshappening View Post
    By this time Chucky Schumer will have it outlawed and the exchanges will be brought down.
    I think that's pretty much why we need more exchanges around the world. Bitcoin is a global currency, so if the US shuts down their exchanges, we will still have others in other countries. I admit that it is an unsettling thought though.

  27. #24
    Yes but you're not listening to the mother of all crashes will come when Chucky Schumer's PROTECT AMERICA FROM DRUGS IN THE MAIL ACT is announced and going through CONgres

    Then your bitcoin will be worth a dollar or less when the big holders panic and bail out.



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  29. #25
    Quote Originally Posted by Sentinelrv View Post
    I think that's pretty much why we need more exchanges around the world. Bitcoin is a global currency, so if the US shuts down their exchanges, we will still have others in other countries. I admit that it is an unsettling thought though.
    The banks are all controlled. Every bank in America, Europe, etc. is tied to a regulator and will be told don't deal with exchanges. If they do they're threatened with losing their license.

    Result is none will deal with a bitcoin exchange. NONE!

    They're all interconnected into the international banking system and they need this co-operation. It's like how the OECD have shut down every "tax haven" (they now all share information). These people are experts and won't tolerate bitcoin for long. Get out while you can.

  30. #26
    Quote Originally Posted by jmdrake View Post
    @ 4:30 Mike Adams says "They will become a good value to buy once the crash has happened Alex." Soooo....why all the "Bitcoin is dead" talk in Mike Adams is (was) actually right?

    I think Alex is trying to have it both ways with his "we've always been for these currencies...".

    He knows there's a lot of talk about it out there and wants to cover it for his audience.

    He's right to be weary about it although I think he doesn't like it for different reasons than me (no money in it for him)

  31. #27
    Quote Originally Posted by itshappening View Post
    Yes but you're not listening to the mother of all crashes will come when Chucky Schumer's PROTECT AMERICA FROM DRUGS IN THE MAIL ACT is announced and going through CONgres

    Then your bitcoin will be worth a dollar or less when the big holders panic and bail out.
    So why can't the early adopters and big holders use some of their vast fortune to attempt to shut this act down or any legislation for that matter which attempts to make Bitcoin illegal. They obviously have the money to lobby against this. Would it work? Who knows, but I'd love to see the entire Bitcoin community come out against congress to protect itself and scare the politicians responsible.
    Last edited by Sentinelrv; 04-13-2013 at 02:55 PM.

  32. #28
    Quote Originally Posted by Sentinelrv View Post
    So why can't the early adopters and big holders use some of their vast fortune to attempt to shut down this act or any legislation for that matter which attempts to make Bitcoin illegal. They obviously have the money to lobby against this. Would it work? Who knows, but I'd love to see the entire Bitcoin community come out against congress to protect itself and scare the politicians responsible.
    They don't care. the early adopters have got millions and control millions more. GREEDY they are and will continue crashing the market.

    Some of them are probably financing or buying all these computers to mine even more. There's a big race on to get as much as possible. They're halfway to its limit. Once they've got it all they will dump it all on the market and make off with the loot.

    They need enough suckers (buyers) to be around to dump to when this time comes. Hence all the crazy internet hype.

    Once its more evenly distributed it will be more stable but by then it's likely to be 'reset' when all the miners/early adopters dump (what price will it be then who knows?) or they will outlaw it. We're probably 5 years away from this.
    Last edited by itshappening; 04-13-2013 at 02:56 PM.

  33. #29
    So to sum up:

    Bitcoin is a scam. The miners/early adopters/drug dealers and now Kim all have an interest in seeing it ramp up.

    When there's enough suckers around they will dump their bitcoins on the market and crash it. They will keep doing this periodically but the bigger crash will come if the US government legislate and these people panic.

    If the US government doesn't legislate the mother of all crashes still comes when they've mined the rest of it and then try and make off with the loot.

    It's a circular scam because the early adopters are probably investing in the computers to mine the rest of it... and so on.

    It's not private industry paying for their computers and data centers to accomplish their task is it ?

    The financing comes from somewhere. Probably from previous gains. They've sold some off and bought more machine power.

    Once they've mined the $#@! out of it and made off with the loot what price will bitcoin be then ?

    This is what I mean by suggesting it will "reset".

    Or the US government gets in first and shuts them down by taking out the exchanges and their banking relationships. Every exchange tells you what bank account number to send the money to. They're easy for a government to trace and shut down. Too easy!

    Who knows what will happen but it doesn't seem good to me.
    Last edited by itshappening; 04-13-2013 at 03:08 PM.

  34. #30
    Quote Originally Posted by itshappening View Post
    So to sum up:

    Bitcoin is a scam. The miners/early adopters/drug dealers and now Kim all have an interest in seeing it ramp up.

    When there's enough suckers around they will dump their bitcoins on the market and crash it. They will keep doing this periodically but the bigger crash will come if the US government legislate and these people panic.

    If the US government doesn't legislate the mother of all crashes still comes when they've mined the rest of it and then try and make off with the loot.

    It's a circular scam because the early adopters are probably investing in the computers to mine the rest of it... and so on.

    It's not private industry paying for their computers and data centers to accomplish their task is it ?

    The financing comes from somewhere. Probably from previous gains. They've sold some off and bought more machine power.

    Once they've mined the $#@! out of it and made off with the loot what price will bitcoin be then ?

    This is what I mean by suggesting it will "reset".

    Or the US government gets in first and shuts them down by taking out the exchanges and their banking relationships. Every exchange tells you what bank account number to send the money to. They're easy for a government to trace and shut down. Too easy!

    Who knows what will happen but it doesn't seem good to me.
    You trying to get people to dump so you can buy at a lower price?

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