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Digital currency Bitcoin hits new high before losing S$200 in value in one day
14-04-2013, 09:22 PM,
Post: #21
RE: Digital currency Bitcoin hits new high before losing S$200 in value in one day
what do you mean "not face to face"? then how the counter party receives the firearms or narcotics? sure, have to face to face to verify the firearms and narcotics is what you want and the money is real.

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14-04-2013, 09:50 PM,
Post: #22
RE: Digital currency Bitcoin hits new high before losing S$200 in value in one day
These sites likely to deal in small quantities not in kilos.
The environment is a bit like ebay, seller have "reputation points" given to them from earlier buyers based on their experiences.

You go to ebay someone advertising to sell his mountain bike that you are interested in buying all he has are a few photos that could have been ripped from any site on the internet. He shows you the picture and asking for your money and trust so how do you know is for real?

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14-04-2013, 10:25 PM,
Post: #23
RE: Digital currency Bitcoin hits new high before losing S$200 in value in one day
(14-04-2013, 09:50 PM)sgd Wrote: These sites likely to deal in small quantities not in kilos.
The environment is a bit like ebay, seller have "reputation points" given to them from earlier buyers based on their experiences.

You go to ebay someone advertising to sell his mountain bike that you are interested in buying all he has are a few photos that could have been ripped from any site on the internet. He shows you the picture and asking for your money and trust so how do you know is for real?

that's why I won't authorize the payment til I receive the goods or I only deal with reputable sellers, not any seller.

for small items on e-bay, normally, face-to-face.

I hardly see a use of virtual currency in the long term precisely because the current has no backup. You deal with it at your own risk.

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15-04-2013, 10:02 AM, (This post was last modified: 15-04-2013, 10:04 AM by BlueKelah.)
Post: #24
RE: Digital currency Bitcoin hits new high before losing S$200 in value in one day
Bitcoin will have a good future if they can get big enough and base themself someplace like monaco, switzerland or tax haven places like Bermuda. Anyways I think this will be another version of the shadow banking system that is worth trillions in the USA and China Big Grin
"I love Taiwan"

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15-04-2013, 10:26 AM, (This post was last modified: 15-04-2013, 10:27 AM by safetyfirst.)
Post: #25
RE: Digital currency Bitcoin hits new high before losing S$200 in value in one day
(15-04-2013, 10:02 AM)BlueKelah Wrote: Bitcoin will have a good future if they can get big enough and base themself someplace like monaco, switzerland or tax haven places like Bermuda. Anyways I think this will be another version of the shadow banking system that is worth trillions in the USA and China Big Grin

you sound like you have strong vested interests in such virtual currencies. Do you happen to own some bitcoins?

....

If i intend to make money unscrupulously, this is what i will do. Setup a website, create a virtual currency, create many fake accounts that will do trading using this virtual currency, i may even allow some early birds to buy a branded bag, wallet, shoes, etc for 1 unit of virtual curreny. These early birds will be so happy that they start spreading the news. They become my free advertisers. Human nature, they will start spreading this to all their friends, speak to the press, etc.

At the correct moment, i will push the virtual currency to a higher valuation. Suddenly, all account holders will gain extra wealth. They become happier. They gain more confidence, they think they have found the divine method to overcome poverty.

If my scam works, i can take profits slowly by creating and selling more virtual currency. As i make money, i laugh at the stupidity of these fools. I create a virtual world, virtual currency, virtual happiness and they gladly play along with me. I will even smile in my dreams

It is always okay to make less money or not make money but it is never okay to play the role of a fool Smile

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19-04-2013, 09:29 AM, (This post was last modified: 19-04-2013, 09:30 AM by sgd.)
Post: #26
RE: Digital currency Bitcoin hits new high before losing S$200 in value in one day
wow it's over just like that. Big Grin

[Image: bitfloor.jpg]

source: zerohedge

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19-04-2013, 09:31 AM,
Post: #27
RE: Digital currency Bitcoin hits new high before losing S$200 in value in one day
(19-04-2013, 09:29 AM)sgd Wrote: wow it's over just like that. Big Grin

BITten by the BITcoin.

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19-04-2013, 09:48 AM, (This post was last modified: 19-04-2013, 09:49 AM by sgd.)
Post: #28
RE: Digital currency Bitcoin hits new high before losing S$200 in value in one day
(19-04-2013, 09:31 AM)AlphaQuant Wrote:
(19-04-2013, 09:29 AM)sgd Wrote: wow it's over just like that. Big Grin

BITten by the BITcoin.

I don't think it was any law enforcement that manage to do them in. I believe it was currency manipulators who cleaned them out. There around 21 million bitcoins in circuIation. 1 bitcoin was only worth $20. I think somebody or some group slowly accumulated the currency once the pool got small and trading became thin they cornered it then when it inflated $200 they all went at once to the exchange flloor of bitcoin to cash in the chips and redeem it for hard cash. $4,200,000,000

wipeout man gone case Tongue

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19-04-2013, 10:36 AM,
Post: #29
RE: Digital currency Bitcoin hits new high before losing S$200 in value in one day
Would it be a good idea if we can move threads like bitcoins & the recent collapse of the few gold companies to a sub-forum that's titled "Interesting historical events for the new investor"? ...of course, a more creative title will be welcome but the point is that we can learn much from these events

If one day, olam runs out of money, it can also be filed there. A few months ago, we were also invited to explore investing in brazil with some high returns, if it turns out to be a scam at the end of the day, it can also be filed there

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19-04-2013, 12:11 PM,
Post: #30
RE: Digital currency Bitcoin hits new high before losing S$200 in value in one day
good idea.


but I dun think olam will go under lah I think temasek bought into olam for strategic and security reasons.

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