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Thread: Holy Bitcoin, Batman!

  1. #1
    Chubby Member
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    Holy Bitcoin, Batman!

    https://www.theguardian.com/technolo...unds-plough-in

    So an unregulated currency that may or may not be worth 10 cents tomorrow is heading towards $10,000 (unless it's passed it since I started writing). This year you could nearly double your money by buying this commodity outright in just a few months.

    https://www.reuters.com/article/us-c...-idUSKBN1DL1QP

    What about futures? Will people be buying options in this commodity soon? Options trading, doubtless on margin, in a commodity that can rise or fall in price literally 100% in mere months, and has, repeatedly.

    What could possibly go wrong?

    https://www.theguardian.com/business...h-banking-2008

    Not sure why this came to mind, but this is a pretty good album:

    https://en.wikipedia.org/wiki/Appetite_for_Destruction
    Thanks from Tedminator

  2. #2
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    Quote Originally Posted by splansing View Post
    https://www.theguardian.com/technolo...unds-plough-in

    So an unregulated currency that may or may not be worth 10 cents tomorrow is heading towards $10,000 (unless it's passed it since I started writing). This year you could nearly double your money by buying this commodity outright in just a few months.

    https://www.reuters.com/article/us-c...-idUSKBN1DL1QP

    What about futures? Will people be buying options in this commodity soon? Options trading, doubtless on margin, in a commodity that can rise or fall in price literally 100% in mere months, and has, repeatedly.

    What could possibly go wrong?

    https://www.theguardian.com/business...h-banking-2008

    Not sure why this came to mind, but this is a pretty good album:

    https://en.wikipedia.org/wiki/Appetite_for_Destruction
    Yeah, I read that bitcoin had two major falls in price recently, but recovered both times.

    You can make a lot or lose a lot.

    Buy at your own risk...
    Thanks from Chief

  3. #3
    Member Robert Urbanek's Avatar
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    I'm surprised the cryptocurrency is tolerated at all, given its prolific use on the dark web to facilitate various illegal transactions.
    Thanks from Chief and Friday13

  4. #4
    SWED Missle Command Champion johnflesh's Avatar
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    Quote Originally Posted by Robert Urbanek View Post
    I'm surprised the cryptocurrency is tolerated at all, given its prolific use on the dark web to facilitate various illegal transactions.
    You just explained why it is tolerated. There is a lot of money to be made on the deep web. You'll find that tolerance is elastic when there is cash to be made.
    Thanks from Chief and Friday13

  5. #5
    Thought Provocateur NightSwimmer's Avatar
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    Quote Originally Posted by Miller47 View Post
    Yeah, I read that bitcoin had two major falls in price recently, but recovered both times.

    You can make a lot or lose a lot.

    Buy at your own risk...
    I'd rather invest in Beanie Babies.
    Thanks from Friday13

  6. #6
    Veteran Member Chief's Avatar
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    I would never touch that stuff.
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  7. #7
    Thought Provocateur NightSwimmer's Avatar
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    Quote Originally Posted by Chief View Post
    I would never touch that stuff.
    Well, truth be told, you can't literally touch it. Bitcoin only exists as numerical values within computer networks.
    Thanks from StanStill and Friday13

  8. #8
    Veteran Member bajisima's Avatar
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    I dont really get it, but it sure is popular here.

    https://cointelegraph.com/news/new-h...ndly-community

  9. #9
    Anarquistador StanStill's Avatar
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    When they first sold they cost about .008 cents per bitcoin, back in 2010.

    If you got in then, your investment would have multiplied to 125 million times it's original value.

  10. #10
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    The real question here is, what kind of options will be approved for trading on BitCoins? Will the government approve going long or short on these things? And if so, how will it regulate it? The Man can barely tie His own shoes when it comes to understanding the derivatives being traded already. Now they're going to start buying futures on BitCoins, and undoubtedly that'll lead to credit default swaps, underwriting, all sorts of arcane hedging, and shitloads of it happening entirely on margin. With the volatility of this "commodity", how long before we have a trillion dollar tangled knot of shit, all hanging from one thin thread?
    Thanks from bajisima

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