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  1. #1121
    Dame_Enda Dame_Enda is offline
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    All the bitcoin exchanges coinbase, kraken and bitfinex down during the day.

    Could this be hostile state actors like Russia and China who are publicly against bitcoin?
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  2. #1122
    johnnypockets johnnypockets is offline

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    Quote Originally Posted by Hillmanhunter1 View Post
    In your own words explain bitcoin to me and why it has a value above zero.
    Very few can. Yet they are willing to throw hard earned money at it.
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  3. #1123
    johnnypockets johnnypockets is offline

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    Quote Originally Posted by Dame_Enda View Post
    All the bitcoin exchanges coinbase, kraken and bitfinex down during the day.

    Could this be hostile state actors like Russia and China who are publicly against bitcoin?
    What reason did they give?
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  4. #1124
    Dame_Enda Dame_Enda is offline
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    Quote Originally Posted by johnnypockets View Post
    What reason did they give?
    Coinbase says it's due to high traffic volumes. But we all know that a DDOS attack can come from sending massive spam traffic to a site.
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  5. #1125
    johnnypockets johnnypockets is offline

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    Quote Originally Posted by Dame_Enda View Post
    Coinbase says it's due to high traffic volumes. But we all know that a DDOS attack can come from sending massive spam traffic to a site.
    I wouldn't be surprised if its high volume though. Talking to more established, reputable dealing platforms, they say they are inundated with bitcoin trading.
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  6. #1126
    jman0war jman0war is offline

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    Quote Originally Posted by mr_anderson View Post
    There's nothing more hedge funds love doing than shorting overpriced stock.
    that's what i'm thinking too, and there's plenty of press around that.
    But a smart Hedge would know that and then make a play to squeeze those shorts to the wall.
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  7. #1127
    jman0war jman0war is offline

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    Quote Originally Posted by Trainwreck View Post
    Check it out. Nothing special or unique about Bitcoin. You aren't buying something that has limited supply. New ones can pop up with little barriers to entry:

    https://en.wikipedia.org/wiki/List_of_cryptocurrencies
    So can anything.
    Is there only one internet search engine?
    No there are hundreds, but there's only one Google.
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  8. #1128
    Trainwreck Trainwreck is offline

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    Quote Originally Posted by jman0war View Post
    So can anything.
    Is there only one internet search engine?
    No there are hundreds, but there's only one Google.
    Those who can't deal with facts, use analogies. How is the remotely the same thing.
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  9. #1129
    johnnypockets johnnypockets is offline

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    Quote Originally Posted by jman0war View Post
    So can anything.
    Is there only one internet search engine?
    No there are hundreds, but there's only one Google.
    But people are not using bitcoin for what it was designed. Not on a large scale anyway. They are treating it purely as an investment.
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  10. #1130
    clearmurk clearmurk is offline
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    Quote Originally Posted by yosef shompeter View Post
    It certainly is a puzzle of where the demand comes from.
    Using my imagination (which is not infallible!!!) I tried to rack my brains as to who would really want to choose Bitcoin to store their savings.
    I'm disposed towards the opinion that it would be a useful haven say for some capital-rich people in a country like Zimbabwe which suffers from very high inflation. -- and (here I'm not knowledgeable of this country) where taking currency out of the country is illegal, difficult and comes with draconian punishments.
    Likewise we are hearing stories of this lad in Saudi Arabia locking up his cousins, uncles, in-laws and half-brothers. Some journos say his police are beating them... so as to persuade them to part with their hard-earned. No make that easy-earned. Well Saudi Arabia is a tightly controlled country... I can easily see how some oil-rich Arabs might want to park their funds out of view of Mohammed Bin Salman. If the nr of Bitcoin is limited... or if you believe, have been convinced that this is so. Then it might be reassuring to you.
    The anonymity might be desirable to Arms-dealers, Drug-dealers, crooked politicians, to a husband in a difficult marraige who fears divorce and wants to get his money out of view. It would also be useful to political or religious movments
    The old adage of "Follow the money" is going to make investigation much more difficult.
    Now that it has sky-rocketted in value over this past year, the temptation for lucky punters to cash-out must be enormous. But who is cashing in at this stage of the game? Who is buying the bitcoins off the ones who bought at $0.10
    If you are on an exchange, you are trackable.
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