It's funny how reading this thread reminds me so much of reading a chapter on currencies in Economics 101 back in College.

 

I believe crypto-currencies have a future, as it allows to remove useless intermediate like internet did.
While Bitcoin only purpose is to be a money and it doesn't do it very well : just try to buy a coffee with it, the transactions fee are about 1$ and take hours to be confirmed.
You have some alt-coins which do it better and some have real purpose : patronizing, advertisements, social networks, gambling, smart contracts...
Gold or diamonds are not that much better as they are valued on a supposed rarity (especially diamonds) and their social status.
Fiat are backed by governments which are largely in debts and don't hesitate to print bills as it is Christmas every day.

It was just my two cents and it is open to debate.

 

Bitcoin up an additional 26% since my post on Oct 13. Now up 97% since original post on 9/22.

 

Chicago Mercantile Exchange about to legitimize it:
https://www.cnbc.com/2017/10/31/cme-plans-to-launch-bitcoin-futures-by-year-end.html

Tulip Bubble invoked:
https://www.cnbc.com/2017/11/02/bitcoin-futures-mirror-1637-tulip-bubble-crash-ubs.html

 

but you cant bury bitcoins in your backyard...

despite the aggravation of currency exchange and the fees involved, I'm sold on good ole USD's....they have never let me down.

 

well, you can actually. transfer them to a hardware wallet and you can stick them up your place of choosing

 

I'd certainly sell a watch for BTC but only up to a certain figure - probably sub 8k usd so conversion into a fiat currency wouldn't become challenging.

I suppose the question is would you price in a crypto currency or USD and negotiate the crypto equivalent as part of the transaction and who wears the slippage risk.

 

Hey all, interesting topic. I was considering selling my Rolex DJ for Bitcoins recently. Anyone else sold theirs for Bitcoins or other cryptocurrencies? Just want to know the procedure etc. before I post mines for sale.

 

I am not a fan of centralized banking, but I also like having something tangible for my wealth. As a result I tend to keep silver, gold, and a few precious stones in my safety deposit box. I will probably continue hoarding these until I need them or I die.

 

Where were you in 1933?

 

Mobile payment processor Square tiptoeing into Bitcoin....
http://www.businessinsider.com/bitcoin-price-and-square-stock-up-2017-11

Some Wall Street types freaking out about Bitcoin...
http://www.businessinsider.com/inte...itcoin-futures-wall-street-journal-ad-2017-11

The next six months is going to be real interesting. Bitcoin might be going mainstream.

 

it may be a little tangential to this thread however

https://www.cnbc.com/2016/06/29/worlds-second-largest-diamond-fails-to-sell-at-auction.html

huge flop at the sotheby's diamond sale. . .1 in 4 lots did not sell. i would be very worried if i were long a lot of diamonds. who needs them when you can use bitcoin instead and machine can replicate a diamond

there are big tectonic shifts going on in the world of assets and finance. for now vintage speedmasters appear to be on the right side of these trends. i hope it continues!

 

Will we get a 10k update? next the moon - how much higher can we go?

 

This was a typical greedy move by the owner / miner and naive cooperation by the auction house.
No private is going to buy this, and no cutter would absorb the 20-25% premium the auction house charges.
This stone is a buisiness, not an investment.
The diamond cutting industry operates on much smaller margins than most think, so there was no room for the auction.

Let’s leave out the idea that (man made) crystallised carbon in large sizes is happening, if not this size today, in the very near future.

 

Bitcoin now up 177% since original post on 9/22.

Investors are flush with money due to the stock market. Investors are tripping over themselves to throw money at Bitcoin. The greed is bubbling over. Also, it is "cool" to invest in Bitcoin. If it becomes legit to invest in Bitcoin, we are off to the races. Short term no where to go but up.

https://www.bloomberg.com/news/arti...o-manage-customer-exposure-to-bitcoin-futures

 

if by “magic beans” you mean USD, it’s $10000

 

My prediction: Bitcoin will continue to grow quickly and a second cryptocurrency that is more anonymous will become the hot new coin in the next year or two. This second coin will be used for the illicit stuff and bitcoin will be used for the legit stuff.

 

Bit coin still has the transaction limitper cycle. I think something else that improves on the failings of BTC will succeed it.

 

CME futures launch next month, ETF will shortly follow. So the casino is now open. I can't see this ending well for most.

Soon Joe Public will be answering 1 of the 10 texts a week he gets to invest in Bitcoin. Something he knows nothing about, but it's only an extra £1500 on the credit card, and friendly knowledgable Wayne (whos 21 and doesn't know what a future is) at the Bitcoin exchange says i'll get rich. I wonder how quickly the tide will go out.