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Wall Street set to pour money into Bitcoin (NY Times)
Re: Wall Street set to pour money into Bitcoin (NY Times)
by Leviathan » Tue Dec 17, 2013 12:13 am
"The President, through the Attorney General, may authorize electronic surveillance without a court order under this subchapter to acquire foreign intelligence information for periods of up to one year..." - 50 U.S.C. § 1802
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Leviathan - Banned
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Re: Wall Street set to pour money into Bitcoin (NY Times)
by eric » Tue Dec 17, 2013 8:43 am
Cool. So how much have you made so far?
"With the first link, the chain is forged. The first speech censured, the first thought forbidden, the first freedom denied, chains us all irrevocably."
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Re: Wall Street set to pour money into Bitcoin (NY Times)
by Darkhorse » Tue Dec 17, 2013 8:52 am
Jim Grant had a pretty accurate take on bitcoin this morning on Squawk Box. It's a fiat currency without any security from government backing and it's only worth as much as the next guy is willing to pay, which could very well be nothing.
Ammunition is a much better currency.
Ammunition is a much better currency.
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Re: Wall Street set to pour money into Bitcoin (NY Times)
by The Dharma Bum » Tue Dec 17, 2013 8:55 am
Fiat currency without government backing is an oxymoron, as government backing is what "fiat" literally means, why would you listen to someone that is that uninformed about the nature of currency?
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The Dharma Bum - Vice President
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Re: Wall Street set to pour money into Bitcoin (NY Times)
by Leviathan » Tue Dec 17, 2013 9:55 am
"The President, through the Attorney General, may authorize electronic surveillance without a court order under this subchapter to acquire foreign intelligence information for periods of up to one year..." - 50 U.S.C. § 1802
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Leviathan - Banned
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Re: Wall Street set to pour money into Bitcoin (NY Times)
by The Dharma Bum » Tue Dec 17, 2013 9:56 am
Fiat currency is any money that has been declared by a state to be legal tender so it is "backed" by military force. It's essential value to you is that you have to pay taxes using it.
Bitcoin is a different animal altogether. It's an accounting ledger that resolves the double spending problem. That characteristic has great utility in the real world of finance so digital currencies are not going away. No one is going to make you use them. You can use an abacus or a pocket calculator or even scratch marks in the sand.
Whatever is more efficient is what i will use.
Bitcoin is a different animal altogether. It's an accounting ledger that resolves the double spending problem. That characteristic has great utility in the real world of finance so digital currencies are not going away. No one is going to make you use them. You can use an abacus or a pocket calculator or even scratch marks in the sand.
Whatever is more efficient is what i will use.
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The Dharma Bum - Vice President
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Re: Wall Street set to pour money into Bitcoin (NY Times)
by Winchester » Tue Dec 17, 2013 10:36 am
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Re: Wall Street set to pour money into Bitcoin (NY Times)
by eric » Tue Dec 17, 2013 11:33 am
"With the first link, the chain is forged. The first speech censured, the first thought forbidden, the first freedom denied, chains us all irrevocably."
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Re: Wall Street set to pour money into Bitcoin (NY Times)
by The Dharma Bum » Tue Dec 17, 2013 11:44 am
I have 1.05 XBT, for which I laid out $850 overall. Since XBT is at $720 this morning I'm in the red. ouch lol
I'm doing a little side deal with .5 XBT for LTC, when it hits 32 in XBT/LTC pair I will have turned 15 LTC into 18, I expect the order to clear shortly. This currency pair is how I initially recouped my entry costs.
I had started out with .25 and bought another .75 so I'm actually +0.05XBT=36USD due to trading in XBT/LTC but am -130USD in XBT/USD so -94USD at the moment due to drop from 950s to 650s.
Right when I recouped the costs of entry into the market XBT went from 950s to 650s, that's when I bought the .75XBT to round out the costs of the first .25XBT I bought at 1050XBT.
So I'm not eating a free lunch yet. lol
I'm doing a little side deal with .5 XBT for LTC, when it hits 32 in XBT/LTC pair I will have turned 15 LTC into 18, I expect the order to clear shortly. This currency pair is how I initially recouped my entry costs.
I had started out with .25 and bought another .75 so I'm actually +0.05XBT=36USD due to trading in XBT/LTC but am -130USD in XBT/USD so -94USD at the moment due to drop from 950s to 650s.
Right when I recouped the costs of entry into the market XBT went from 950s to 650s, that's when I bought the .75XBT to round out the costs of the first .25XBT I bought at 1050XBT.
So I'm not eating a free lunch yet. lol
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