Seems legit.Investors who bought Bitcoin just ahead of Thanksgiving certainly have something to be thankful for. Bitcoin prices breached $11,300 Wednesday for the first time, representing a rise of over $3,100 in a week.
It’s a stunning rise for the cryptocurrency, which only just broke the psychologically important milestone of $10,000 hours earlier
snip
... both Nasdaq and Cantor Fitzgerald are looking to launch bitcoin derivatives.
http://fortune.com/2017/11/29/bitcoin-p ... e-futures/
Gold is Losing Buyers to Bitcoin
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- Kriegsspiel
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Re: Gold is Losing Buyers to Bitcoin
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Re: Gold is Losing Buyers to Bitcoin
No bubble here, not at all.
I am sure some people are making out like bandits. And there's probably still a good amount of time to do it even now.
But a huge number of people are going to be screwed. I will not be one of them.
I liked the offhanded comment on gold here, making it sound bad...
“Bitcoin has no underlying rate of return,” said Bogle at a Council on Foreign Relations event on Tuesday, as reported by Bloomberg. “You know bonds have an interest coupon, stocks have earnings and dividends, gold has nothing. There is nothing to support Bitcoin except the hope that you will sell it to someone for more than you paid for it.”
I am sure some people are making out like bandits. And there's probably still a good amount of time to do it even now.
But a huge number of people are going to be screwed. I will not be one of them.
I liked the offhanded comment on gold here, making it sound bad...
“Bitcoin has no underlying rate of return,” said Bogle at a Council on Foreign Relations event on Tuesday, as reported by Bloomberg. “You know bonds have an interest coupon, stocks have earnings and dividends, gold has nothing. There is nothing to support Bitcoin except the hope that you will sell it to someone for more than you paid for it.”
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Re: Gold is Losing Buyers to Bitcoin
So tired of Gold...honestly look at the alternative, now BTc 13K, AU can't even hit 1300.
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Re: Gold is Losing Buyers to Bitcoin
I hope gold prices stay low until I can buy some more from selling stocks.buddtholomew wrote:So tired of Gold...honestly look at the alternative, now BTc 13K, AU can't even hit 1300.
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Re: Gold is Losing Buyers to Bitcoin
There's no reason to sell stocks, EVER.
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Re: Gold is Losing Buyers to Bitcoin
I sell to rebalance, but of course with stocks going up like this it feels funny.buddtholomew wrote:There's no reason to sell stocks, EVER.
I have also sold individual stocks this year, but since my total stocks (pp + vp) feel so low (40%?), I swapped them out for some Vanguard Total Stock Market. That's something I don't mind buying "at the top."
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Re: Gold is Losing Buyers to Bitcoin
Perhaps you should sell all your gold and buy Bitcoin.buddtholomew wrote:So tired of Gold...honestly look at the alternative, now BTc 13K, AU can't even hit 1300.
It can only go up!
Re: Gold is Losing Buyers to Bitcoin
I'm waiting for a muggle to ask me about Bitcoin. That's when I'm calling a top.
Don't agree with me too strongly or I'm going to change my mind
- dualstow
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Re: Gold is Losing Buyers to Bitcoin
I get the Harry Potter reference, but does that mean a non investor?eufo wrote:I'm waiting for a muggle to ask me about Bitcoin. That's when I'm calling a top.
By the way, Craig was right:
https://motherboard.vice.com/en_us/arti ... itcoin-tax
Well, fine with me. Better the IRS than hackers.
- Kriegsspiel
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Re: Gold is Losing Buyers to Bitcoin
I believe muggle is what Goldman Sachs calls their customers now that muppet is out of fashion.dualstow wrote:I get the Harry Potter reference, but does that mean a non investor?eufo wrote:I'm waiting for a muggle to ask me about Bitcoin. That's when I'm calling a top.
Re: Gold is Losing Buyers to Bitcoin
Yes. I have a few friends that fit this mold and always seem to ask about things right as they've hit their maximum exposure. Not sure why I call them muggles... maybe because I feel like I'm magical? Lol!dualstow wrote:I get the Harry Potter reference, but does that mean a non investor?eufo wrote:I'm waiting for a muggle to ask me about Bitcoin. That's when I'm calling a top.
Don't agree with me too strongly or I'm going to change my mind
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Re: Gold is Losing Buyers to Bitcoin
I would sell if it ever went up.Libertarian666 wrote:Perhaps you should sell all your gold and buy Bitcoin.buddtholomew wrote:So tired of Gold...honestly look at the alternative, now BTc 13K, AU can't even hit 1300.
It can only go up!
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Re: Gold is Losing Buyers to Bitcoin
Then you're all set. It's going up every second!buddtholomew wrote:I would sell if it ever went up.Libertarian666 wrote:Perhaps you should sell all your gold and buy Bitcoin.buddtholomew wrote:So tired of Gold...honestly look at the alternative, now BTc 13K, AU can't even hit 1300.
It can only go up!
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Re: Gold is Losing Buyers to Bitcoin
I think he means the gold.
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Re: Gold is Losing Buyers to Bitcoin
It doesn't matter. Since gold never goes up and Bitcoin always goes up, he should sell gold and buy Bitcoin!dualstow wrote:I think he means the gold.
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Re: Gold is Losing Buyers to Bitcoin
And you call them muggles? Sounds like they actually have a bit of magic in them.eufo wrote:Yes. I have a few friends that fit this mold and always seem to ask about things right as they've hit their maximum exposure. Not sure why I call them muggles... maybe because I feel like I'm magical? Lol!dualstow wrote:I get the Harry Potter reference, but does that mean a non investor?eufo wrote:I'm waiting for a muggle to ask me about Bitcoin. That's when I'm calling a top.
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Re: Gold is Losing Buyers to Bitcoin
He still doesn’t get it, thanks for trying.dualstow wrote:I think he means the gold.
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Re: Gold is Losing Buyers to Bitcoin
Valuethinker is essentially making the same joke over at bogleheads.
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Re: Gold is Losing Buyers to Bitcoin
Oh, I get it all right.buddtholomew wrote:He still doesn’t get it, thanks for trying.dualstow wrote:I think he means the gold.
You hate gold.
Who is making you hold it?
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Re: Gold is Losing Buyers to Bitcoin
Steam has stopped accepting BTC because they're too volatile/fees.Xan wrote:I assume that they immediately convert received bitcoins to dollars. As you say, their expenses are in dollars. Unless they are choosing to speculate in bitcoins by holding them, in which case that's really a separate "business" from the real one.Kriegsspiel wrote:Something I was mulling over. Say you're a internet business who accepts btc. A while ago, something that cost a btc would also cost like, $10. Now...
How do businesses respond to massive appreciation in a currency? Did all the businesses reduce their prices, in btc, to match what the prices were in dollars (0.00137 btc/$10 as of now)? What if the btc/$ rate drops, and they're left holding btc? All their expenses are in dollars. The only real advantage is that the business could avoid the transaction fee credit companies impose, and the possibility to evade taxes. Accepting btc seems incredibly risky for businesses, unless I'm missing something.On May 22, 2010, Laszlo Hanyecz paid a fellow early adopter 10,000 bitcoin to order him two Papa John's pizzas. In those days that was more or less a fair-value exchange. Today 10,000 bitcoin is worth $12.8 million or so, and one bitcoin will buy a few more than two pizzas.
Re: Gold is Losing Buyers to Bitcoin
It happened today... I'm calling the top @ $16,000/Bitcoin.eufo wrote:I'm waiting for a muggle to ask me about Bitcoin. That's when I'm calling a top.
I could be wrong, but here we go.
Don't agree with me too strongly or I'm going to change my mind
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Re: Gold is Losing Buyers to Bitcoin
When this crashes, we had better hope that we don't find out that the banks have "invested" in it and want to be bailed out... again.eufo wrote:It happened today... I'm calling the top @ $16,000/Bitcoin.eufo wrote:I'm waiting for a muggle to ask me about Bitcoin. That's when I'm calling a top.
I could be wrong, but here we go.
It could certainly bring down the commodities exchanges due to busted transactions where the loser can't pay.
And that is even without leverage!
- Kriegsspiel
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Re: Gold is Losing Buyers to Bitcoin
I mean, that's gotta be it, right? Who else is buying these goddamn things?Libertarian666 wrote: When this crashes, we had better hope that we don't find out that the banks have "invested" in it and want to be bailed out... again.
It could certainly bring down the commodities exchanges due to busted transactions where the loser can't pay.
And that is even without leverage!
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Re: Gold is Losing Buyers to Bitcoin
My waitress at dinner, tonight. (Well, ethereum). Is this the start of a revolution or the proverbial shoe shine boy warning sign?