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Bitcoin Hacked: Price Stumbles After Buying Frenzy

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#3
Maybe I'm just old, but I don't understand people investing in imaginary money. Maybe I'm missing something, and probably it's not much different than using plastic to pay for stuff, but it seems pretty weird.
 
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#4
Maybe I'm just old, but I don't understand people investing in imaginary money. Maybe I'm missing something, and probably it's not much different than using plastic to pay for stuff, but it seems pretty weird.
It was supposed to be a safer, more stable currency.
With people like Glen Beck out there telling everyone the economy is collapsing at to buy gold and whatnot.
 

mrkelso

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#5
If you must get out of your money wouldn't Gold be a much better choice?
I would rather have a bar of gold in my hand then and electronic bit coin.

The world has gone MAD!!!!
 
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#6
If you had a bar of gold and needed money in a crises, how would you convert it to cash? The average person has no way of knowing if its real or how much it weighs, etc.
prcguy


If you must get out of your money wouldn't Gold be a much better choice?
I would rather have a bar of gold in my hand then and electronic bit coin.

The world has gone MAD!!!!
 
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#8
Well, as usual, CNBC puts their own twist on a story.

A bitcoin exchange was hacked. Not bitcoin. For some reason, I have never seen CNBC put in a headline that the US treasury or Fed Reserve or US dollar was hacked when banks have been hacked(happening quite often these days). I have never heard that the dollar was hacked when someone stole a credit or debit card.

Anyone with a large amount of bitcoin should not leave them on a server. Thieves are thieves. All electronic forms of currency are subject to thievery. The bitcoin itself cannot be hacked, but it can be stolen.

Bitcoin has advantages over the regular electronic proccesses , most of which I won't get into but an exchange rate is the obvious one. You can't sell the dollars on your debit card for more than a dollar.

Yes, physical gold is better, IMO. But, if I want to buy a widget from across the country it is not practical to send off a chunk of gold via package to pay for it. Having a bit of bitcoin may be the way to go. Bitcoin should not be considered a gold replacement.

Full discloser; I don't own a single bitcoin. I just see there are valid and useful reasons to do so.
 
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#9
That's good info. Not surprising that CNBC jacked up the story. Seems like all of the news sources are unable to keep their own spin out of the stories.
 
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#10
Government doesn't like bitcoin(currency competition). So,,,,,,,,,,,,media doesn't like bitcoin.

You bet, media will spin and trash bitcoin when ever possible.
 
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