Bitcoin

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  • Peter Schiff is debating Erik Voorhees right now.  I'll post the audio later.


     


    Bitcoin may be a bubble.  The USD is a bubble.  There are communities outside the US, in Berlin, Germany for example, that live and work for bitcoin.  Other communities are popping up gradually.


     


    I understand bitcoin because I've studied it day in and day out for months.  That's the only way.  It's like the matrix.  You have to experience it to understand it.


     


    I think bitcoin is a new technology that is still in it's infancy, even at $1000 each.  Bitcoin could reach $10000 by the end of the year.  The US has a debt limit debate coming in Feb.  Janet Yellen is going to lead the fed in 2014.  The US will print money into infinity.  They will increase the debt limit.  When that occurs, bitcoin could explode.  Other crypto currencies will go with it.  I own bitcoins, litecoins, peercoins, namecoins, feathercoins, & terracoins.  The only one I don't have is novacoin (need to get some.)  I'm hedging my bets against the USD and against other cryptocurrencies.  I own gold/silver.  The one thing I avoid at all costs is USD.  I invest in foreign stocks too.  Sure, I have a 401k with my employer, I'm thinking of cashing that out before Feb.  The clock is ticking on USD.  The stock market is only up because of the Fed.  The party will end badly.  Make sure you have your stop/loss orders in place. 


     


    A huge wealth transfer is taking place with bitcoin.  From the bankers to the nerds.  The powers that be, the bankers of the world, are very afraid.  People in power, in governments (not china) are very afraid.  You're going to see negative press on bitcoin filtered down from these powers.  Bitcoin is the future of money.  We are making history.  If you don't buy and hold at least 1 bitcoin, you could be missing out on the opportunity of the millenium.   Sure, "This time it's different."  But you have to play to win.  


  • edited December 2013

    https://coinmkt.com/#/


     


    Is this a good site you think to use?


     


    Edit: If not, what is a good site? I also want to buy other crypto currencies, so this was the only site I could find so far. 


     


    Edit 2: I would like to buy those coins using my Skrill or mastercard, so looking for a site that supports that too. So far it seems that coin mkt doesn't support that... 


     


    So basically looking for a site that supports Skrill or mastercard, is safe, and where you can buy different crypto currencies.


  • I use www.btc-e.com to trade cryptos. They have the lowest fees and are the most popular. I've never heard of that one. If they accept USD for US citizens it's probably not legit. Also try crypsy.com and vircurex.com. They best way to do this is buy btc through coinbase and trade bitcoin for altcoins.
  • Yeah, this is totally unreliable and people's accounts have disappeared, but I still wish I'd thrown a few hundy at it as an experiment. It's hard to read the early pages of this thread and not kick myself.


  • That btc-e, does that accept skrill/mastercard? Like how do those payments work in general? I am really new to this. I watched some on khanacademy, started to get positive about it, since I always loved khanacademy, helped me pass so many tests lol.




  • Yeah, this is totally unreliable and people's accounts have disappeared, but I still wish I'd thrown a few hundy at it as an experiment. It's hard to read the early pages of this thread and not kick myself.




    Peoples accounts disappear because they don't save their passphrases and private keys.  There are solutions to that.


     


     




    That btc-e, does that accept skrill/mastercard? Like how do those payments work in general? I am really new to this. I watched some on khanacademy, started to get positive about it, since I always loved khanacademy, helped me pass so many tests lol.




    Khanacademy rocks! If you're in USA, the only way to get USD into btc-e is via wire transfer.  I don't recommend this.  They also accept "Perfect Money", "OKPAY", "EgoPay", "Payeer.com", "Ecoin", and "Epese."  I don't know about any of those, just reading it off their site.  I don't recommend any of them.  Just buy bitcoin with a coinbase account and move the bitcoin to btc-e.  Same with vircurex and crypsy. 


     


    If you open a Coinbase account, you can show me some love by using my referral link:


    https://coinbase.com/?r=51769cf85f3bf956f800000e&utm_campaign=user-referral&src=referral-link


    Coinbase is totally legit, I use them all the time.  I just sold a crap load of btc last week.  Coinbase credited my bank account today. "HAPPY!"  Now to invest that money!


     


    Also, here's the Peter Schiff/Erik Voorhees (no relation to Jason) interview from yesterday.



    I'm one of those people that have been bugging Peter to debate him.  I think the conversation could have gone on for another hour.  They were just getting started.


     


    I interviewed with Stephanie from the Let's Talk Bitcoin Podcast last week.  It should be posting soon.  I was so nervous.  I hope it sounds good.


     


    On another note:  I asked the Upgraded Self store if I could buy a discounted bulk order of coffee/mct to sell at PorcFest next summer.  And sell it for bitcoin.  They're really giving me a hard time asking for all kinds of documentation. I don't think they understand the principle of porcfest.  So I may have to buy my coffee and mct elsewhere.

  • Joe, I'm really interested in investing in bitcoin, but I'm having some difficulties getting started, mind if I pm you for a bit of an assistance? it's totally OK by me if you can't as I understand you're a busy guy.


  • Joe E.Joe E.
    edited December 2013


    Joe, I'm really interested in investing in bitcoin, but I'm having some difficulties getting started, mind if I pm you for a bit of an assistance? it's totally OK by me if you can't as I understand you're a busy guy.




     


     


    No problem, PM me.  I'm stepping out but we'll get in touch. 


  • RodRod The Rodfather


    I've been trying to do the bitcoin thing few months back but I can't for the life of me figure it out, it looks too complicated for me. Does anyone has some easy-to-understand guides? is still a good idea to invest in it or am I a little too late given that it's almost worth $1000?




    Geijusu brother,


     


    hope you're well, I'm not sure about BT, they say it can go to lkike 10k but I would invest in Lite coin.


     


    https://btc-e.com/


     


    I don't know much but I try to keep track of price increase/decrease

    Everything I learned about "biohacking" has been baby steps to "circadian biology", that's where the real biohacking comes in. You can buy a bunch of cool shit to "hack" but if you don't have context, you're not winning. Paleo is just a brand now and too many have opinions, it's on you to read and reread the material to not only find truth but to connect the dots. Much love to everyone who has helped me on my journey for restoring my health, please keep in touch. Feel free to message me with health questions Consultwithrod@live.com 

  • edited December 2013


    Joe, I'm really interested in investing in bitcoin, but I'm having some difficulties getting started, mind if I pm you for a bit of an assistance? it's totally OK by me if you can't as I understand you're a busy guy.




    I don't get it either man, I am totally lost. Like I did download the bitcoin software, and now I should deposit money on coinbase, and after that I move it to btc-e to trade? Where is the software for then? Geijutsu maybe u wanna add me on skype to help me? Pm me ur skype if u do. Thanks


  • Joe E.Joe E.
    edited December 2013
    Hey, I was interviewed on the Lets Talk Bitcoin Podcast.
    http://letstalkbitcoin.com/e63-money-of-the-internet-age/#.Up9Z5GRDvFY


    My interview starts at 42:18, picks up again at 59:16. Funny to hear myself. I couldn't get my thoughts straight. Haha!


    If I were getting into bitcoin today. I would buy one or two and sit on them. I would buy another one or two and trade them for Peercoin (PPC) and Litecoin (LTC.)
  • Quite some money u invested in ur mining system sir. Sadly enough it turns out I need more and more bulletproof food for my health, so all my money goes to that atm and to supplements. Seems like now that I gotta start buying my own beef as well, that there is no money left for bitcoin right now. Thanks a lot for your time man, I really wanted to, but seems the situation right now doesn't allow for it anymore. 


  • Joe E.Joe E.
    edited December 2013
    I bought 1/2 cow from a local farmer last sept for ~$600. It's lasting forever!


  • I don't get it either man, I am totally lost. Like I did download the bitcoin software, and now I should deposit money on coinbase, and after that I move it to btc-e to trade? Where is the software for then? Geijutsu maybe u wanna add me on skype to help me? Pm me ur skype if u do. Thanks




    I myself am new to this too and trying to wrap my head around it, I'm starting to get it now, pm me your skype so we can talk about it when we can.

  • The point is not to sit on bit coins but to use them to make a trade. 


     


    Anyone who thinks bit coin is like holding a stock is delusional. 


     


     


     


     




    Hey, I was interviewed on the Lets Talk Bitcoin Podcast.
    http://letstalkbitcoin.com/e63-money-of-the-internet-age/#.Up9Z5GRDvFY


    My interview starts at 42:18, picks up again at 59:16. Funny to hear myself. I couldn't get my thoughts straight. Haha!


    If I were getting into bitcoin today. I would buy one or two and sit on them. I would buy another one or two and trade them for Peercoin (PPC) and Litecoin (LTC.)



  • StevoStevo Upgrade in Progress


    The point is not to sit on bit coins but to use them to make a trade. 


     


    Anyone who thinks bit coin is like holding a stock is delusional. 




    =====


    Bitcoin is supposed to be a form of money, so making a trade as well as holding onto them are both valid options. Two criteria of money are to be a medium of exchange and a store of wealth.


     


    I agree that they're not like stock. Buying Bitcoins is basically forex trading.

  • Joe, nice interview, I think it came off great. 


     


    I'm thinking to see about getting in on an alternate crypto currency or two. Why do you mention peercoin and litecoin in particular? There seem to be a host of currencies:


    http://coinmarketcap.com


     


    Thanks!


    Biohacking News 

    Tracking biohacking developments and the movement to realize a higher level of human potential.



  • Joe, nice interview, I think it came off great. 


     


    I'm thinking to see about getting in on an alternate crypto currency or two. Why do you mention peercoin and litecoin in particular? There seem to be a host of currencies:


    http://coinmarketcap.com


     


    Thanks!




     


     


    Thanks!  My thoughts were all over the place.  I'm not good at that stuff.  Stephanie is a pro!  


     


    Well, PPC and LTC have never had any problems per se.  LTC is silver to BTC's gold.  LTC should be going much higher, imho.  More infrastructure is being build around LTC.  TRC on the other hand, stay away from it. Many issues.  NMC & NVC aren't bad either.  Those are the leaders.  FTC is like a jr. stock.  Yeah, I know, they're not stocks, lol!  All of those other cryptos are just me too copies.  The only use some have is to test your mining equipment.  If you want to hedge your bets, buy 1-5k of each.  That shouldn't cost that much considering some are 0.0001 cent each.  

  • edited December 2013

    Hey Joe, keep fighting the good fight! This is a interesting video on the "bubble" https://www.youtube.com/watch?v=qHUPPYzzZrI


    By far my favorite Bitcion channel (You might already be hip to the channel.)


  • edited December 2013


    The point is not to sit on bit coins but to use them to make a trade. 


     


    Anyone who thinks bit coin is like holding a stock is delusional.




     


     


     


    Most people that have Bitcoins, understand that the Bitcoin network is NOT a company. It's Peer to Peer network homie. Bitcoin is taking on gold as a reserve currency, and credit cards and micro payments and ...  


  • edited December 2013


    =====


    Bitcoin is supposed to be a form of money, so making a trade as well as holding onto them are both valid options. Two criteria of money are to be a medium of exchange and a store of wealth.


     


    I agree that they're not like stock. Buying Bitcoins is basically forex trading.




     


     


     


    But it is so much more. Most of the 3rd world does not have access to bank accounts, but they do have cell phones. With bitcoins they have no need for ID, paper work and all the other BS it takes to get a bank account. Best part of all? Near 0 transaction fees. Also family members that send back money home from "1st" world countries could save on that nasty 10% that companies like Western Union charge. 


  • StevoStevo Upgrade in Progress

    You're touting the benefits of money, really. Bitcoin is exactly the same as gold, except you can hand one to someone on the other side of the planet.


  • edited December 2013

    Money and a bank and a remittance service. Those alone are different from gold or a currency no?  Im not saying its not like gold, but more. 


  • StevoStevo Upgrade in Progress

    Remittance is better with bitcoin, since you can pass one across the planet with the same ease as someone across the room.


     


    Other than that, they are fundamentally the same. To get nitty gritty of what makes money money, both gold and bitcoin are units of account, mediums of exchange, stores of wealth, one unit is the same as another (fungible), divisible, are standards of deferred payment. If anything meets all of these criteria, it can be reliably used as money.


     


    There are pros and cons of both. I think they complement each other in an investment portfolio.


  • GarrettGarrett
    edited December 2013

    Personally, Bitcoin does interest me, in ways.


     


    However, at this point, I feel like the best investment I can make is into myself with books, high quality food, and things of that nature. It feels like the results will come quicker using that method, than 'investing' into bitcoins.


     


    By the way, as of May, 2013, Warren Buffett had moved up to $0 into Bitcoin. THAT has to tell you something.


     




    . @WarrenBuffett #BRK2013: Of our $49b, we haven't moved any of it to #BitCoin.



     

    Also

     

    A bitcoin is worth whatever someone else is willing to pay for it and it behaves exactly like Warren Buffett says money should act. 

    In 2012, Buffet wrote “whether the currency a century from now is based on gold, seashells, shark teeth, or a piece of paper (as today), people will be willing to exchange a couple of minutes of their daily labor for a Coca-Cola or some See's peanut brittle.”

  • However, at this point, I feel like the best investment I can make is into myself with books, high quality food, and things of that nature.


     


    Well said, I tried to say that earlier too, but those words u use sound better. Just did buy 8.6kg organic coconut oil, thats like almost 20lbs lol.




  • =====


    Bitcoin is supposed to be a form of money, so making a trade as well as holding onto them are both valid options. Two criteria of money are to be a medium of exchange and a store of wealth.


     


    I agree that they're not like stock. Buying Bitcoins is basically forex trading.




    ---


     


    This got me interested since I've been studying forex for a bit now. There seem to be a couple of differences though. First off, one of the primary appeals to forex is the enormous volume provides extreme liquidity in any of the currencies. Also, due to both that and the many brokers, the margins are very slim.


     


    With btw-e.com when you create an account you can download Metatrader 4 and get a demo account. It's kind of cool to see the BTC market in Metatrader, but I tried to post a couple of trades and couldn't. I think the spreads they require must be too wide or they don't allow pending trades or something else. They only provide BTC and LTC vs USD (I believe), but it's perhaps at least a good way to view the market.


     


    The other thing is that the BTC market is so unlike the forex market at this time. Forex has some trends, for sure, but my mentor (Mark Boardman) states the forex is in a trend maybe 30% of the time at most. Otherwise it's fluctuating and providing what he calls 'recurring price patterns' which allow you to make some small predictions about short term trades. The BTC market right now seems wildly trendy and unpredictable. 


     


    Is anyone here doing forex style trading on BTC? I'd be curious what strategy you would use if so... 


     


    Fascinating thread, thanks for the info!

    Biohacking News 

    Tracking biohacking developments and the movement to realize a higher level of human potential.

  • edited December 2013

    Because of bitcoin (and in a way, Dave) I wound up with an extra 100$.


     


    Back in may, I wanted to try out some modafinil from mymodafinil.com, and the only method I could use to buy it was to buy it via bitcoin. The process of actually purchasing BTC's was pretty tedious, but eventually I was able to buy my modafinil with BTC. Because of how tedious and clunky the process of buying BTC was, I had like 10$ worth of BTC left over (.09 btc's). Not knowing what to do with them and because of the frustrating processes involved, I just left the BTC's where they were and forgot about them until 2 weeks ago when my friend told me that the e-coin market just blew up. I go back and check my account to find 100$ worth of BTC (still the .09) in there. Needless to say I was pretty happy! Though now I am once again going through tedious processes to put that money into my bank account lol.


     


    Anyway, that's my cool little story. Since then I've been somewhat interested in bitcoin. I think it's great stuff and might become something really cool in the future if the bugs are weeded out. If it weren't for the poverty that I now face, I would have transferred my BTC's into LCT's and let the money accumulate. :)


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