Bitcoins are such a good currency

[Orruar]

Originally Posted by r00t [You must be logged in to view images. Log in or Register.]

https://www.google.com/search?q=50+x+2000%25

When was the last time BTC was $50?

[Orruar]

Originally Posted by r00t [You must be logged in to view images. Log in or Register.]

Things can change rapidly when it comes to financial investments. That's why people look for more sound and stable investments, something Bitcoin does not attract whatsoever, makes Bear Stearns look reasonable. But more to the point, yea at the time I said dump, following the news it was actually the smart move to do as it did dip until computer programs (another thing you don't want when dealing with investments is a bunch of microtrading) overcorrected and stabilized the price. Then later the China thing, following the news maybe you coulda jumped in and profited alongside Mt. Gox, but now you sound bitter you didn't. It's okay though, I don't follow the insider trading Bitcoin news either.

As it stands now, nothing..... nothing at all....... is preventing any other exchange from pulling the same crap as Mt. Gox is.

tl;dr bitcoins are more fraught with fraud than derivatives

The fact you think bitcoin is an investment is hilarious. Is the US Dollar an investment too, in your eyes? You have some very basic flaws in your understanding of economics. I'd suggest you let your girlfriend handle the checkbook, even though she's shown a penchant for overspending on little pieces of plastic.

[r00t]

I definitely don't consider it a currency, seeing as I can't buy anything with it rofl

[Thulack]

And you do realize you can use bitcoins and such without having anything to do with Mtgox right? If your are buying bitcoins atm i think is a mistake but if you have had them or are mining them aslong as its profitable there is nothing to worry about. Do you even mine bitcoins Root or any other forum of cryptocurrency? Personally i mine Dogecoin then sell it for bitcoin on Cryptsy and then transfer to VirWox and cash out. Cash out once a month to pay my bills and i'm golden.

[r00t]

I wonder how many people Amazon would need to employ if they wanted to sell items for Bitcoins. They'd have to constantly adjust the price of all 420 million items every 20 minutes lol.

[Orruar]

Originally Posted by r00t [You must be logged in to view images. Log in or Register.]

I wonder how many people Amazon would need to employ if they wanted to sell items for Bitcoins. They'd have to constantly adjust the price of all 420 million items every 20 minutes lol.

Yes, because clearly they would do that adjustment by hand, and not completely automate the process. Your business acumen is unsurpassed.

[r00t]

Actually Amazon could probably just multiply by a ratio. I was thinking of other types of online shops with more static pages. But okay for reals the day I can buy beer with bitcoin at the neighborhood liquor store is the day Ill stop saying it isnt real.

[r00t]

which will never be allowed to happen see: ron paul coins

[formallydickman]

Originally Posted by Orruar [You must be logged in to view images. Log in or Register.]

The fact you think bitcoin is an investment is hilarious. Is the US Dollar an investment too, in your eyes? You have some very basic flaws in your understanding of economics. I'd suggest you let your girlfriend handle the checkbook, even though she's shown a penchant for overspending on little pieces of plastic.

Do you not know that currency investment IS a thing?

[Orruar]

Originally Posted by formallydickman [You must be logged in to view images. Log in or Register.]

Do you not know that currency investment IS a thing?

I suppose I should have said it's hilarious he thinks it is used ONLY as an investment.