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Bitcoin Bites the Dust – Down $7,200 (37%) in Five Days
Townhall.com ^
| December 29, 2017
| Mike Fuljenz
Posted on 12/29/2017 5:28:20 AM PST by Kaslin
click here to read article
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1
posted on
12/29/2017 5:28:20 AM PST
by
Kaslin
To: Kaslin
2
posted on
12/29/2017 5:34:03 AM PST
by
Travis McGee
(EnemiesForeignAndDomestic.com)
To: Kaslin
Wow, that’s a shock. /sarcasm
To: Travis McGee
But...Bitcoin IS backed by numbers...it goes to 11!
4
posted on
12/29/2017 5:35:06 AM PST
by
rlmorel
(Liberals: American Liberty is the egg that requires breaking to make their Utopian omelette.)
To: Kaslin
I think bitcoin is a study in how to make star trek credits work.
5
posted on
12/29/2017 5:37:46 AM PST
by
Jonty30
(What Islam and secularism have in common is that they are both death cults)
To: Kaslin
I’ve created a new currency called Bitrock. I have 1,000 of them and broke each into 1,000 pieces. I sold one piece for a dollar. That means I now have $999,999.
Get in before it’s too late! You don’t want to be left behind while all your friends get rich do you? This is the new, new, new economy. Getting rich without creating anything will work this time. I promise.
6
posted on
12/29/2017 5:40:35 AM PST
by
ArcadeQuarters
("Immigration Reform" is ballot stuffing)
To: Kaslin
7
posted on
12/29/2017 5:42:59 AM PST
by
SMGFan
(Sarah Michelle Gellar is on twitter @SarahMGellar)
To: Kaslin
Here's a nice bouquet of tulips for bitcoin's funeral.
8
posted on
12/29/2017 5:48:36 AM PST
by
KarlInOhio
(The Whig Party died when it fled the great fight of its century. Ditto for the Republicans now.)
To: Kaslin
in other news... Bitcoin still 14,000 TIMES more valuable than the dollar
9
posted on
12/29/2017 5:49:17 AM PST
by
sten
(fighting tyranny never goes out of style)
To: Kaslin
Lots of articles written by people who (A) no nothing about bitcoin and (B) failed to buy any and are bitter about it. I spend a fair amount of time correcting the liberals at other forums. The nice thing about bitcoin is that it clearly exposes the people who don't know what they are talking about from the few that do.
A couple things missing from the analysis (as usual). The main one is they don't understand where the demand is coming from. There is a lot of demand for stored value outside of the traditional commodities like gold. The problem with bitcoin is that it has crypto that will be broken or brute forced in some number of years or decades. So it can't be a long term store of value. But the neat thing with tech is that people come up with new ideas that *might* stand the test of time. Along with every good idea (new cryptocurrency) comes 1000 bad ones. There are many bubble currencies now, bitcoin is only one of them.
The alt-coin bubble is far bigger than the bitcoin bubble. The fact that the writer doesn't even mention it shows just how clueless he is, but I knew that before reading the article. 99% of financial writers are clueless about how it works or how it can be a store of value.
10
posted on
12/29/2017 5:50:27 AM PST
by
palmer
(...if we do not have strong families and strong values, then we will be weak and we will not survive)
To: KarlInOhio
It beats roses on a piano...
11
posted on
12/29/2017 5:50:48 AM PST
by
null and void
(The internet gave everyone a mouth, it gave no one a brain)
To: Kaslin
12
posted on
12/29/2017 5:52:42 AM PST
by
Sirius Lee
(In God We Trust, In Trump We MAGA)
To: ASA Vet
13
posted on
12/29/2017 5:53:31 AM PST
by
Grampa Dave
(America had regime change January 2017! ISIS collapsed! Are the FBI/DOJ/CIA next?)
To: Kaslin; Lazamataz
Laz - remember our conversation on this topic? What did I say was going to happen to Bitcoin?
Here ya go.
14
posted on
12/29/2017 5:53:35 AM PST
by
usconservative
(When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
To: sten
in other news... Bitcoin still 14,000 TIMES more valuable than the dollar Mark this post, let's see where Bitcoin is this time next year.
15
posted on
12/29/2017 5:54:36 AM PST
by
usconservative
(When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
To: Kaslin
Very simple... When your stock holding makes the news, wait two days, then SELL SELL SELL.
16
posted on
12/29/2017 5:55:04 AM PST
by
LittleBillyInfidel
(This tagline has been formatted to fit the screen. Some content has been edited.)
To: sten
Tell that to the guy that bought at 19,000 ...
To: LittleBillyInfidel
“Very simple... When your stock holding makes the news, wait two days, then SELL SELL SELL.c
And you miss a good run ... as in Apple.
To: SMGFan
Mining is really simple. Just run SHA256 hashes until you get the right number of leading zeros. Since hash results are essentially random numbers it takes a lot of hashing to guess such a non-random number. Here's how much hashing it takes:
https://blockchain.info/charts/hash-rate which is 14,000,000 times a trillion times 60 seconds times 10 minutes or 8,400,000,000,000,000,000,000 hashes to get the right answer. Obviously to do that you need fast hashing hardware and a lot of parallelism. The miners have both. An ordinary computer has neither.
19
posted on
12/29/2017 6:01:53 AM PST
by
palmer
(...if we do not have strong families and strong values, then we will be weak and we will not survive)
To: KarlInOhio
At least the tulip mania was backed by something tangible. Bitcon doesn’t even have that going for it.
20
posted on
12/29/2017 6:03:41 AM PST
by
WhatNot
(The Gospel doesn't promise the American dream, it promises Eternal life in the Kingdom of God.)
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