Bitcoins accepted by casinos in Las vegas?

Well they were being minted for a while, but not anymore: http://www.wired.com/wiredenterprise/2013/12/casascius/

Just another bubble in the making! Crytocurrencies will be proven worthless when compared to items of intrinsic value. Thanks for the edit Norm. But even you must know that it's late in the game and the Fed is trapped in a game of musical chairs.

Bitcoin has lost 30% of its value in the last week, due to the Mt. Gox problem. Personally, I don't see adding this additional volatility to the already high volatility of advantage play. No idea how to work that into risk of ruin calculations. Of course, gold is having its problems too. I get a kick out of the buy gold commercials. "Now is the best time in history to buy gold." Wait, didn't I see the same claim six months ago? And six months before that? And....

Originally Posted by Norm

"Now is the best time in history to buy gold." Wait, didn't I see the same claim six months ago? And six months before that? And....

1] "Now" isn't in "history".
2] Do you think six months ago they would have been saying, "In 6 months it's going to be better to buy gold that it is right now"?

But, they were wrong as it continued going down.

Were they. They said the best time in history but didn't say anything about the future. As long as the price keeps dropping they are right each time.

The claim that it is the best time suggests that it will go up. They are predicting the future.

If you are a long term holder of gold, which most people are, the purchase price and time of ownership determines the best time. For an in and out trader short term performance is a major concern. It really depends on your investing strategy.

I tend to think the people that bought at $1,900 don't think it was the best time to buy.

Originally Posted by Norm

I tend to think the people that bought at $1,900 don't think it was the best time to buy.

Yep. Later the time factor starts kicking in. Later and cheaper is always better. The price only matters when you buy or sell though.

Yep. I figure in another 100 years my Citibank stock will come back.

Originally Posted by Norm

Bitcoin has lost 30% of its value in the last week, due to the Mt. Gox problem. Personally, I don't see adding this additional volatility to the already high volatility of advantage play. No idea how to work that into risk of ruin calculations. Of course, gold is having its problems too. I get a kick out of the buy gold commercials. "Now is the best time in history to buy gold." Wait, didn't I see the same claim six months ago? And six months before that? And....

It's becoming increasingly difficult to trust anything that is man made as far as a financial instrument is concerned. I don't think Bitcoin will really take off in the casino world. Bitcoin seems more like a trend while it undermines the current status quo of the greenback, which the controllers do no like.

Originally Posted by Tthree

Yep. Later the time factor starts kicking in. Later and cheaper is always better. The price only matters when you buy or sell though.

The price means nothing, value means everything.

Now this is interesting... http://www.silverdoctors.com/the-collapse-of-bitcoin/ I guess casinos using bitcoin will not come to fruition.

Well, that's a site that sells silver. Hardly a good source. Bitcoins aren't yet dead. But, the variance, on top of the variance already experienced by casinos and players, makes it very risky. And that's not counting the risk of unregulated exchanges and hacker teams stealing them. Hey, the guy that invented them called it an experiment.

While they do sell metals and other products which I am not soliciting, people have the freedom of choice. I love reading their articles and I have trust in them vs. what the mainstream media tells me but one must verify. Oh, it's an experiment alright. One that I think is doomed for failure. Their is no intrinsic value in Bitcoin that is why I steer clear of anything I don't understand and is not tangible.

I'll put my trust in the Silver Shield Bitcoin. I just love their humor lol. That I can touch.

Well, we'll see how gold and silver hold up when I get my alchemy process patented.

It's all born into a star that goes supernova. That's where the word "precious" comes from.

Diamonds are called precious. 2% of the gem-quality diamonds marketed are now manufactured. I believe a far larger percentage used for oil drilling, etc. If the manufacturing cost keeps dropping, De Beers may be in trouble. Of course, that process doesn't require an element change. But, all I have to do is strip three lousy protons out of lead to get gold. Buy lead.