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Still can't wrap my head around bitcoin, but what a nice surprise for this guy:

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  • #31
    Above $8,100.
    "What are you prepared to do?" - Jimmy Malone

    "What choice?" - Abe Petrovsky

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    • #32
      My brother in law was talking about this last night - he bought some when it was around $1K.

      Says he wishes he had bought more. (Yeah - me too.)

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      • #33
        Originally posted by clackamascoug View Post
        I've been reading up on bitcoin, and I could see where it could really gain some traction as it emerges from a curiosity to the currency of the internet. I'm predicting here in Jan of 2014 that in 5 years we'll be looking at the explosion of bitcoin as one of the bigger paradigm shifts brought upon by the internet.

        No house of cards vote for me Indy.

        Edit: Thanks to BFM below I'm back in the right year!
        No... I didn't buy any. But the prediction was solid.

        When poet puts pen to paper imagination breathes life, finding hearth and home.
        -Mid Summer's Night Dream

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        • #34
          Excellent article explaining where Bitcoin came from, how it got where it is now, and where it may be headed: https://arstechnica.com/tech-policy/...e-worth-10000/

          It has passed $10,000. Gee, if I had just invested $10K in it when it first started, I would have over $8M today. Or I could have manged to lose it all.

          I'm curious how one would deal with paying taxes on the gain from such an investment.

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          • #35
            Originally posted by Scott R Nelson View Post
            Excellent article explaining where Bitcoin came from, how it got where it is now, and where it may be headed: https://arstechnica.com/tech-policy/...e-worth-10000/

            It has passed $10,000. Gee, if I had just invested $10K in it when it first started, I would have over $8M today. Or I could have manged to lose it all.

            I'm curious how one would deal with paying taxes on the gain from such an investment.
            It's treated as a commodity for tax purposes.

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            • #36
              Originally posted by Scott R Nelson View Post
              Excellent article explaining where Bitcoin came from, how it got where it is now, and where it may be headed: https://arstechnica.com/tech-policy/...e-worth-10000/

              It has passed $10,000. Gee, if I had just invested $10K in it when it first started, I would have over $8M today. Or I could have manged to lose it all.

              I'm curious how one would deal with paying taxes on the gain from such an investment.
              Interesting article. Not sure I fully grasp the part about nodes and miners and blockchains.

              Sent from my SM-G930V using Tapatalk
              "I think it was King Benjamin who said 'you sorry ass shitbags who have no skills that the market values also have an obligation to have the attitude that if one day you do in fact win the PowerBall Lottery that you will then impart of your substance to those without.'"
              - Goatnapper'96

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              • #37
                Originally posted by Pelado View Post
                Interesting article. Not sure I fully grasp the part about nodes and miners and blockchains.
                It probably takes a computer engineer to understand that part.

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                • #38
                  People have spent over $1M buying virtual cats on the Ethereum blockchain

                  Launched a few days ago, CryptoKitties is essentially like an digital version of Pokemon cards but based on the Ethereum blockchain. And like most viral sensations that catch on in the tech world, it’s blowing up fast.

                  Built by Vancouver and San Francisco-based design studio AxiomZen, the game is the latest fad in the world of cryptocurrency and probably soon tech in general.

                  People are spending a crazy amount of real money on the game. So far about $1.3M has been transacted, with multiple kittens selling for ~50 ETH (around $23,000) and the “genesis” kitten being sold for a record ~246 ETH (around $113,000). This third party site tracks the largest purchases made to date on the game. And like any good viral sensation prices are rising and fluctuating fast. Right now it will cost you about .03 ETH, or $12 to buy the least expensive kitten in the game.

                  So now we have people using Ether, an asset with arguably little tangible utility – to purchase an asset with unarguably zero tangible utility. Welcome to the internet in 2017.
                  You're actually pretty funny when you aren't being a complete a-hole....so basically like 5% of the time. --Art Vandelay
                  Almost everything you post is snarky, smug, condescending, or just downright mean-spirited. --Jeffrey Lebowski

                  Anyone can make war, but only the most courageous can make peace. --President Donald J. Trump
                  You furnish the pictures, and I’ll furnish the war. --William Randolph Hearst

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                  • #39
                    I blame the Russians.
                    PLesa excuse the tpyos.

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                    • #40
                      https://arstechnica.com/tech-policy/...e-in-48-hours/

                      Bitcoin is now at $15,000. I'm just wondering how far it will drop when the bubble bursts.

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                      • #41
                        Here's another article that explains BitCoin. I've been reading a lot of articles lately on the subject, and this one has done more to help me understand it all than any of the others.

                        https://arstechnica.com/tech-policy/...bitcoin-works/

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                        • #42
                          Maybe this has been discussed before, but the craziest bitcoin story I've ever heard was the guy that made the very first bitcoin purchase. He paid 10,000 for 2 pizzas from Dominos.

                          In today's bitcoin, those pizzas cost $176,999,000.00, or more than $88M each.

                          http://mashable.com/2017/05/23/bitco.../#m6mrsFb3Qmq1
                          Ain't it like most people, I'm no different. We love to talk on things we don't know about.

                          "The only one of us who is so significant that Jeff owes us something simply because he decided to grace us with his presence is falafel." -- All-American

                          GIVE 'EM HELL, BRIGHAM!

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                          • #43
                            Originally posted by falafel View Post
                            Maybe this has been discussed before, but the craziest bitcoin story I've ever heard was the guy that made the very first bitcoin purchase. He paid 10,000 for 2 pizzas from Dominos.

                            In today's bitcoin, those pizzas cost $176,999,000.00, or more than $88M each.

                            http://mashable.com/2017/05/23/bitco.../#m6mrsFb3Qmq1
                            I don't believe it. I'm pretty sure the lowest value BitCoin hit in 2010 was $0.08 or eight cents. That would still be $800 for those two pizzas.

                            Sometimes the tiniest bit of fact checking can easily point out bogus stories.

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                            • #44
                              Originally posted by Scott R Nelson View Post
                              I don't believe it. I'm pretty sure the lowest value BitCoin hit in 2010 was $0.08 or eight cents. That would still be $800 for those two pizzas.

                              Sometimes the tiniest bit of fact checking can easily point out bogus stories.
                              You realize that bitcoin was valueless when it all started, right? So, no, .08 was not its lowest value.

                              The pizza story is pretty well-known. After about 15 seconds of fact-checking:

                              The small band of early bitcoiners all shared the communitarian spirit of an open source software project. Gavin Andresen, a coder in New England, bought 10,000 bitcoins for $50 and created a site called the Bitcoin Faucet, where he gave them away for the hell of it. Laszlo Hanyecz, a Florida programmer, conducted what bitcoiners think of as the first real-world bitcoin transaction, paying 10,000 bitcoins to get two pizzas delivered from Papa John’s. (He sent the bitcoins to a volunteer in England, who then called in a credit card order transatlantically.) A farmer in Massachusetts named David Forster began accepting bitcoins as payment for alpaca socks.
                              https://www.wired.com/2011/11/mf_bitcoin/.

                              Bitcoin was about $.005 at the time.
                              "Seriously, is there a bigger high on the whole face of the earth than eating a salad?"--SeattleUte
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                              • #45
                                Originally posted by Scott R Nelson View Post
                                I don't believe it. I'm pretty sure the lowest value BitCoin hit in 2010 was $0.08 or eight cents. That would still be $800 for those two pizzas.

                                Sometimes the tiniest bit of fact checking can easily point out bogus stories.
                                So you couldn't even do the tiniest bit of fact checking?
                                Ain't it like most people, I'm no different. We love to talk on things we don't know about.

                                "The only one of us who is so significant that Jeff owes us something simply because he decided to grace us with his presence is falafel." -- All-American

                                GIVE 'EM HELL, BRIGHAM!

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