If the Gubmint can invent it's own invisible digital currency where's the value in any other currency?

If you bought a hundred dollars worth of them in 2010 they would be worth over $43 million even after this drop. Choose to look at however you want.

Steven 49'er last night I looked and a 64 quarter is worth about 4.39 in today's money, that's coin silver. Never ment to get rich off it, only hold value. I bought from 4 $, to 20 $ oz. including premiums. Gold I bought from 300 something to 600 something. Including premium. I started buying farm ground at 2500.00 per acre. My last major purchase was 5000.00 acre.

The last time I put pencil to paper my silver DCA (dollar cost avg.) was 11.00 oz. never did analysis on gold, saw no need. I've made 5 trades in metals useing silver to gold ratios and the reverse each time increasing my oz. totals with no out of pocket money. Last one just a few months ago where I did what I feel was a great trade silver to gold. Ratio was mid 50's to 1. All in all I've increased my oz total in both to what I feel is a substantial amount. I don't know if I beat the Dow, or S&P but I am certain I've done much better than some in the stock market. I'm surrounded by some of the largest farm ground owners in the area. Archer Daniels Midland, and Prudential inc. I know the value of my land to them would exceed 10,000 acre. I do/did this for my wife 10 yrs my jr. and heirs.

Now I've shared more personal financial info with you and the www. Than you are ever going to share. Just let me say I don't think comparing coin silver with the spot price at its peak gives a true reflection of the wisdom of holding things with intrinsic value compared with today's Fed. Res. Notes.

This post was about bit coin I'm way off base, and this will be my last post on this thread. Thanks.
Case

Post script, Steven I do respect your opinion. By the way.
Case

Just read the description in this link. People are so stupid .I don't care if they become trillionaires on this stuff it's all based on fantasy and imagination Like selling cubic feet of air . Can't see it can't touch it.

Trouble with any Gov't making a digital currency is the same problem with our current dollar.
The Gov't can print/make more any time they like.
When they do they devalue the existing dollars.
No faith in any gov't baked currency whether digital of notes (dollar bills).
The gov't can change the rules at any time.

Another advantage over dollars is it easily moved from place to place or from person to person without the Gov't being able to know about it.

Get caught with $25,000 and the gov't can seize it. See civil asset forfeiture. Its the Gov't stealing your money without proof of any crime.

Withdraw over 10K from the bank and the gov't gets notified.

It started out at $143 so it would have been nice to have bought one then ,but I wonder if it can disappear with a computer glitch .

It started out at zero.

Sorry I'm a little slow , Bit what?

Hope you didn’t lose a bundle Les.

49 er you haven’t mentioned the main reason it is falling and may become worthless Russia announced this week it is illegal to mine or trade it 74 % of Bitcoin is mined in Russia China already made it illegal earlier this year
If Dems figure out they can start their own it will be illegal here
So good luck

My bad PROPOSD ban

Only 11% is mined in Russia .Congress is looking into a U.S.digital currency to replace the dollar
.If they can do it they control all Your money,with a flip of a switch they can own your money or worse how could you receive any money when they control the blockchain.I feel there might be a time where bitcoins or etherum might be the only way to trade.

Our government already has access to all your currency unless you keep it at home instead of the bank. If you keep it in cash then L.E. will seize it if they find out your doing it.

I havent lost a dime on Bitcoin

What puzzles me is, do you use real money to buy imaginary money?????

They just found out in Brazil its a big Ponzie scheme.Everyone got taken.
Like every other ponzie scheme the last ones in get rooked.

You use your credit card, lol

There's 2 ways to get it.

You can "mine" it. This requires a super computer, and a lot of weird algorithms. It used to be pretty time consuming. Even just a few years ago it could take you months to "mine" even one coin. I'm not sure on how fast, or easy it is to do it this way now.

The other way is to "trade" it like stocks. This is the way most normal/common people are doing it.

When it first came out 1 coin was worth about $.09, and the only way to acquire it was through mining.

So yes you're using real money to buy it. Just like with stocks.

I just went down along the river and mined some out of a sandbar. It's laying around everywhere.

No.



I have been known to say there is a 50 50 chance of that.





The value is that it's decentralized.

Casecollector I value your stance and mine is not much different other than I have metals and BTC. My average cost in silver is more than yours but not by a whole lot. My average cost of BTC is low enough I sleep very well at night. Don't take my postings wrong, I am a sound money advocate and I'd prefer we go back to a true gold standard. BTC intrigues me though and I think there is a lot of merit to the concept.




Jbyrd, that is not why it's falling even though you think that is why it's falling. Every one knows it's ford's fault..... Governments can make it as illegal as they want if the people decide it's a viable medium of exchange the only way they can stop it is to shut down the internet. Up til now, this is not the biggest percentage drop it has experienced.