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By the way, I forgot to mention another point. All these new crypto currencies are actually good for bitcoin, and they actually helped increasing bitcoin prices.
For example, lets say I have 10,000 peercoin (mined or bought) and I want to exchange them for US dollars. The simplest (and most secure) way to do that is by selling them for bitcoin and THEN exchanging bitcoin for US dollars on say a site like coinbase.
I believe these new currencies have played a major role in increasing bitcoin prices in the past 6 months (more than China)
I say bring on more alt currencies. More is good. Once you mine them, how are you going to sell them for fiat currencies? By exchanging them for bitcoin first, of course.Last edited by Fap4Coinns; 01-05-2014, 12:53 PM.Comment
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The effect on bitcoin is very real, and the result is that bitcoin prices have been rising more rapidly because of these various currencies. The simplest and most secure way to sell these other currencies is by exchanging them for bitcoin first, then selling bitcoin for fiat currencies. This is good for bitcoin.Comment
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Keep in mind Bitcoins are still very new to most people and it's still very early to get in on them and still a good time to invest. It's not too late as some of you may think. Everyone here knows about them because we're all computer savvy but most of the people in this world have no idea wtf a Bitcoin is and the way I see it, it will continue to rise as it grows in adoption. The only way I see Bitcoins having a downfall is if someone somehow figures out how to hack them.
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if you do buy into any type of cyber coin just remember bulls profit and pigs get slaughtered. Sell it once you've made a profit, don't be greedy.Comment
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The part about bit coin I don't understand is how the mining works?
I seen a KNC Miner Jupiter - ASIC Bitcoin Mining at 640+ Gh/s IN HAND, SHIPS IMMEDIATELY on ebay selling for $18000, what is it and why is it so expensive??Comment
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Have we mentioned this yet? - http://www.bbc.co.uk/news/technology-25617931
I can't be bothered to read the first page...The value of Bitcoin tops $1,000 once again after social gaming firm Zynga says it will start accepting the virtual currency as a payment option.Comment
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Bitcoin fail? In what way? It is a social experiment and it has proven it's worth 1000000 times over. uhmmmm, WINNING!!!
Oh, and I also think that bitcoins will be worth much more.
You can only fail........ fail to invest at all, fail to get out at the right moment for maximum profit etc....... Bitcoin cannot fail. It has already done what it was meant to do.email: zmaster (at) earthlink.net
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