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Junkballer
Advanced Member

USA
6699 Posts

Posted - 11/14/2017 :  7:54:41 PM  Show Profile  Reply with Quote
I saw this a.m on the auction side something that interested me, the seller stated he accepted "bit-coin" bidding along with U.S dollar bidding.......so my question is since I know absolutely nothing about "bit-coins" how does one bid against them and whatever their value might stand for at the time of the bid ?? Does GB'ers determine the value ? Does G'brokers now accept bit-coins as a payment ? I realize the older I get the more out of touch with technology I am and my once knowledge of worldly ways is lagging seriously behind . I just don't want to get in a bidding war with "Bit-coins" and get my ass.....Bit

Irish 8802
Get off my Lawn

USA
1154 Posts

Posted - 11/14/2017 :  8:43:18 PM  Show Profile  Reply with Quote
I'm in the same boat as you.I don't think I will ever catch up.
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mogley98
Advanced Member

USA
13154 Posts

Posted - 11/14/2017 :  8:51:07 PM  Show Profile  Reply with Quote
I would guess that the value of the bit coin is set at the end of the auction
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shootuadeal
Advanced Member

USA
4126 Posts

Posted - 11/14/2017 :  10:09:02 PM  Show Profile  Reply with Quote
You are not bidding in bit coins, I imagine he is just taking bit coin as a method of payment.

I've seen others on the auction side that accept it as payment, and others that will take gold, silver, gun trades. Its basically all the same, payment.

Do you have a link to the auction, I'd like to see how he has it worded.

My auctions: http://www.GunBroker.com/Auction/SellerAuctions.aspx?User=688208

drydocksports.com

Edited by - shootuadeal on 11/14/2017 10:10:01 PM
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us55840
Advanced Member

USA
29480 Posts

Posted - 11/14/2017 :  11:44:48 PM  Show Profile  Reply with Quote

The 'value' of a bit coin is the same as the value of a pet rock.

That is my opinion.


The government has no rights. Only the PEOPLE have rights that empower the government.

This country, with its institutions, belongs to the people who inhabit it. Whenever they shall grow weary of the existing government, they can exercise their constitutional right of amending it, or exercise their revolutionary right to overthrow it.
Abraham Lincoln

Life is not the way it's supposed to be. It is they way it is. The way we cope with it, is what makes the difference.

All comments posted here are my opinion as expressed via the 1st Amendment of the US Constitution.

United States Army ~ USARSUPTHAI 1967-1968
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Junkballer
Advanced Member

USA
6699 Posts

Posted - 11/15/2017 :  12:45:14 AM  Show Profile  Reply with Quote
I went back and re-read the item, what is confusing is in payment method is the standard (USPS money order, credit card, cert. check) but no mention of bit-coin payment ??? Bit coin is mentioned twice, in the item header and in the description.....item number is HS derringer # 717227421. Like I said I'm not sure if one bids in bit-coin or pays in bit-coin.....I just don't know how this "bit-coin" stuff works
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mark christian
Administrator

USA
26005 Posts

Posted - 11/15/2017 :  01:07:52 AM  Show Profile  Reply with Quote
The seller will accept Bitcoin as payment, but Gun Broker still gets their cut in Dollars and you are free to pay in the conventional fashion. A single Bitcoin is currently worth around $6800, so the $500 opening bid would be equal to around .07 Bitcoin. There are fractional units of the Bitcoin, although for the life of me I can't remember what they are called...nor do I care.

Bottom-line, everyone is bidding in dollars, so it is a level playing field. Bid away.
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shootuadeal
Advanced Member

USA
4126 Posts

Posted - 11/15/2017 :  01:09:51 AM  Show Profile  Reply with Quote
http://www.GunBroker.com/item/717227421

Theres the auction link, yeah, I think he's just saying,not clearly, that he takes bitcoins for payment.

My auctions: http://www.GunBroker.com/Auction/SellerAuctions.aspx?User=688208

drydocksports.com
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p3skyking
Advanced Member

USA
23863 Posts

Posted - 11/15/2017 :  01:11:08 AM  Show Profile  Reply with Quote
quote:
Originally posted by Junkballer

I just don't know how this "bit-coin" stuff works




Sure you do. Don't you remember the story of Jack and the Beanstalk?

Some moron trades his milk cow for "magic beans".

A man who says he has never been scared is either lying or else he's never been anywhere or done anything
Sackett


A man who has not known many women cannot appreciate the value of one. The Walking Drum

A man's success he can share with others, his troubles are his own. Comstock Lode

A ship does not sail with yesterdays wind. The Walking Drum


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shootuadeal
Advanced Member

USA
4126 Posts

Posted - 11/15/2017 :  01:19:40 AM  Show Profile  Reply with Quote
quote:
Originally posted by p3skyking

quote:
Originally posted by Junkballer

I just don't know how this "bit-coin" stuff works




Sure you do. Don't you remember the story of Jack and the Beanstalk?

Some moron trades his milk cow for "magic beans".



Well. I guess all the people that invested in bitcoin, which goes up everyday probably don't see it your way.

Here is an article from 6 months ago, already out of date since it continues to go up pretty much everyday stating that if you had invested 100 dollars in it 7 years ago you would be worth $72,900,000 as of when the article was written. That was written when bitcoins worth was $2200, it is around $7000 now.

http://brobible.com/life/article/bitcoin-value-7-year-investment/

I'm not brave enough to get in now and keep thinking it'll implode eventually but it just keeps climbing. Even Amazon is looking at their own crypto currency.

My auctions: http://www.GunBroker.com/Auction/SellerAuctions.aspx?User=688208

drydocksports.com

Edited by - shootuadeal on 11/15/2017 01:22:31 AM
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p3skyking
Advanced Member

USA
23863 Posts

Posted - 11/15/2017 :  01:26:47 AM  Show Profile  Reply with Quote
quote:
Originally posted by shootuadeal

quote:
Originally posted by p3skyking

quote:
Originally posted by Junkballer

I just don't know how this "bit-coin" stuff works




Sure you do. Don't you remember the story of Jack and the Beanstalk?

Some moron trades his milk cow for "magic beans".



Well. I guess all the people that invested in bitcoin, which goes up everyday probably don't see it your way.

Here is an article from 6 months ago, already out of date since it continues to go up pretty much everyday stating that if you had invested 100 dollars in it 7 years ago you would be worth $72,900,000 as of when the article was written. That was written when bitcoins worth was $2200, it is around $7000 now.

http://brobible.com/life/article/bitcoin-value-7-year-investment/

I'm not brave enough to get in now and keep thinking it'll implode eventually but it just keeps climbing. Even Amazon is looking at their own crypto currency.



It's nothing but a Ponzi scheme and it shows how stupid people are. When the idiots sober up and realize you can't make value out of thin air, it will collapse.

A man who says he has never been scared is either lying or else he's never been anywhere or done anything
Sackett


A man who has not known many women cannot appreciate the value of one. The Walking Drum

A man's success he can share with others, his troubles are his own. Comstock Lode

A ship does not sail with yesterdays wind. The Walking Drum


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shootuadeal
Advanced Member

USA
4126 Posts

Posted - 11/15/2017 :  01:30:40 AM  Show Profile  Reply with Quote
quote:
Originally posted by p3skyking

quote:
Originally posted by shootuadeal

quote:
Originally posted by p3skyking

quote:
Originally posted by Junkballer

I just don't know how this "bit-coin" stuff works




Sure you do. Don't you remember the story of Jack and the Beanstalk?

Some moron trades his milk cow for "magic beans".



Well. I guess all the people that invested in bitcoin, which goes up everyday probably don't see it your way.

Here is an article from 6 months ago, already out of date since it continues to go up pretty much everyday stating that if you had invested 100 dollars in it 7 years ago you would be worth $72,900,000 as of when the article was written. That was written when bitcoins worth was $2200, it is around $7000 now.

http://brobible.com/life/article/bitcoin-value-7-year-investment/

I'm not brave enough to get in now and keep thinking it'll implode eventually but it just keeps climbing. Even Amazon is looking at their own crypto currency.



It's nothing but a Ponzi scheme and it shows how stupid people are. When the idiots sober up and realize you can't make value out of thin air, it will collapse.




Just because you don't understand something does NOT make it a ponzi scheme.

Oh, heres your post a short while ago where you were telling us how cheap looking the coins were haha.

http://forums.GunBroker.com/topic.asp?TOPIC_ID=699183




My auctions: http://www.GunBroker.com/Auction/SellerAuctions.aspx?User=688208

drydocksports.com

Edited by - shootuadeal on 11/15/2017 01:37:45 AM
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toad67
Advanced Member

USA
5607 Posts

Posted - 11/15/2017 :  01:32:03 AM  Show Profile  Reply with Quote
Sure it's a neat thing, especially to those who own B/C's. However, it's kind of like owning gold or other precious metals, you can only trade with people who own, or deal in it, otherwise it's pretty much worthless.
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redneckandy
Advanced Member

USA
7372 Posts

Posted - 11/15/2017 :  01:43:15 AM  Show Profile  Reply with Quote
quote:
Originally posted by p3skyking

quote:
Originally posted by Junkballer

I just don't know how this "bit-coin" stuff works




Sure you do. Don't you remember the story of Jack and the Beanstalk?

Some moron trades his milk cow for "magic beans".


Not unlike the U.S. dollar?

"Dazzle them with brilliance or baffle them with BS."

"Chains is coming"

"ONLY THE PARANOID SURVIVE"

"The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts." - Bertrand Russell

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redneckandy
Advanced Member

USA
7372 Posts

Posted - 11/15/2017 :  01:43:58 AM  Show Profile  Reply with Quote
quote:
Originally posted by toad67

Sure it's a neat thing, especially to those who own B/C's. However, it's kind of like owning gold or other precious metals, you can only trade with people who own, or deal in it, otherwise it's pretty much worthless.


Like the U.S. dollar?

"Dazzle them with brilliance or baffle them with BS."

"Chains is coming"

"ONLY THE PARANOID SURVIVE"

"The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts." - Bertrand Russell

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redneckandy
Advanced Member

USA
7372 Posts

Posted - 11/15/2017 :  01:44:46 AM  Show Profile  Reply with Quote
quote:
Originally posted by p3skyking

quote:
Originally posted by shootuadeal

quote:
Originally posted by p3skyking

quote:
Originally posted by Junkballer

I just don't know how this "bit-coin" stuff works




Sure you do. Don't you remember the story of Jack and the Beanstalk?

Some moron trades his milk cow for "magic beans".



Well. I guess all the people that invested in bitcoin, which goes up everyday probably don't see it your way.

Here is an article from 6 months ago, already out of date since it continues to go up pretty much everyday stating that if you had invested 100 dollars in it 7 years ago you would be worth $72,900,000 as of when the article was written. That was written when bitcoins worth was $2200, it is around $7000 now.

http://brobible.com/life/article/bitcoin-value-7-year-investment/

I'm not brave enough to get in now and keep thinking it'll implode eventually but it just keeps climbing. Even Amazon is looking at their own crypto currency.



It's nothing but a Ponzi scheme and it shows how stupid people are. When the idiots sober up and realize you can't make value out of thin air, it will collapse.



Again, like the U.S. dollar?

"Dazzle them with brilliance or baffle them with BS."

"Chains is coming"

"ONLY THE PARANOID SURVIVE"

"The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts." - Bertrand Russell

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toad67
Advanced Member

USA
5607 Posts

Posted - 11/15/2017 :  01:58:32 AM  Show Profile  Reply with Quote
All publicly traded currencies are valued at whatever rates they are under, or over valued as compared to the offered example. You can go to most banks and get $$ to use in other Countries at the current exchange rate in the $$ that that Country uses. However, it's tough to go to a bank and get bit coin, or precious metals to pay for stuff..
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us55840
Advanced Member

USA
29480 Posts

Posted - 11/15/2017 :  09:10:35 AM  Show Profile  Reply with Quote
Bit Coin = beanie babies.........same same.


The government has no rights. Only the PEOPLE have rights that empower the government.

This country, with its institutions, belongs to the people who inhabit it. Whenever they shall grow weary of the existing government, they can exercise their constitutional right of amending it, or exercise their revolutionary right to overthrow it.
Abraham Lincoln

Life is not the way it's supposed to be. It is they way it is. The way we cope with it, is what makes the difference.

All comments posted here are my opinion as expressed via the 1st Amendment of the US Constitution.

United States Army ~ USARSUPTHAI 1967-1968
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Flying Clay Disk
Advanced Member

USA
30967 Posts

Posted - 11/15/2017 :  09:26:33 AM  Show Profile  Reply with Quote
I have a really difficult time wrapping my head around bit coin.

I understand the algorithm part, and I get the mining 'work' part (sort of), but I totally lose it at the 'fork' part. That a fork can even happen at all seems to diminish the entire value of the system to zero just instantly. And I absolutely don't understand how the value of a bit coin in one fork can be equated to the value of a bit coin in another fork.

And if that (above) looks like Greek to you, you're probably not alone, but I approximate it this way...

Rewind back to confederate currency...a fork in the bit coin world is like comparing confederate currency to the value of current US dollars. One system essentially collapses, and the other becomes the basis for valuation. Except that in the bit coin world it doesn't work that way which, in my mind, defies the laws of economics.

edit...and on a side note, has anyone else seen these bit coin 'mining' operations??? WOW...I had no idea!! I was reading one article where this guy had one that filled up his entire basement! He used more electricity to run it for a single day than his entire house used in a whole year! And over in Europe they have guys who have effectively created super-computers to mine these things, entire data centers complete with HVAC and everything.




FCD

"Fortes et liber"


Edited by - Flying Clay Disk on 11/15/2017 09:37:36 AM
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Junkballer
Advanced Member

USA
6699 Posts

Posted - 11/15/2017 :  09:39:53 AM  Show Profile  Reply with Quote
So what I'm reading is I can pay a seller in "pine cones" set at a mutually agreed dollar value if he's willing to accept them instead of dollars but bidding must be in dollars.......got it now ....I think , Now, are Bit-coin payments received in the mail
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