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The Bitcoin (BTC) thread
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Acute Angle Offline
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Post: #301
RE: Bitcoins up 60% in less than a month
(11-14-2013 09:28 AM)el mechanico Wrote:  Did some fast math..

If your tag cost 1500 on may 5th BTC was around 120 if you bought then you'd have 5,500 today.

Longbets

Yeah, and in two or three months he could have $550, or $11,000 - no one knows.

Someone once said "If you see a bandwagon, you already missed it."

This is a classic speculation bubble and there will be a crash. No one knows when and to what price level. I'm going to wait and hope it goes back below $100. I may be wrong.

Meanwhile I've opened a Ripple wallet, which seems a pretty good way of transferring fiat into crypto currencies.
11-14-2013 03:27 PM
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user10726 Offline
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Post: #302
RE: Bitcoins up 60% in less than a month
(11-04-2013 04:15 PM)Emancipator Wrote:  I'm still in verification limbo (decided not to try out an ATM and paper wallet)

Missing out from this weeks surge of BTC and LTC.

Fuck!

Same here, was £130 per bitcoin when I first thought to buy some, still waiting on verification and last time I checked they were up to £290...

Won't buy now unless they drop back below £150 again
11-17-2013 04:50 PM
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el mechanico Offline
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Post: #303
RE: Bitcoins up 60% in less than a month
What are you guys doing? Are you putting the money into btc e ?
11-17-2013 06:50 PM
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el mechanico Offline
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Post: #304
RE: Bitcoins up 60% in less than a month
Also I love your British attitudes. You guys need to unlearn them if you want to make and lose money quickly.
11-17-2013 06:53 PM
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user10726 Offline
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Post: #305
RE: Bitcoins up 60% in less than a month
(11-17-2013 06:53 PM)el mechanico Wrote:  Also I love your British attitudes. You guys need to unlearn them if you want to make and lose money quickly.

What do you mean?
I'm using Mt.Gox to buy a few bitcoins, but it requires a verification process, not sure if other trading sites require it.
After comparing a few sites Mt.Gox looked the best to me but I'm open to suggestions of better sites to use
11-17-2013 07:56 PM
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el mechanico Offline
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Post: #306
RE: Bitcoins up 60% in less than a month
(11-17-2013 07:56 PM)bret Wrote:  
(11-17-2013 06:53 PM)el mechanico Wrote:  Also I love your British attitudes. You guys need to unlearn them if you want to make and lose money quickly.

What do you mean?
I'm using Mt.Gox to buy a few bitcoins, but it requires a verification process, not sure if other trading sites require it.
After comparing a few sites Mt.Gox looked the best to me but I'm open to suggestions of better sites to use
I don't know besides the part for waiting for it to drop. If Gox is slow that's why it's going up so fast maybe. You can buy them on criagslist and move them right to your wallet here in mcdonalds parking lot. Still though maybe UK guys may not be cut out for this stuff.
11-17-2013 08:09 PM
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pants Offline
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Post: #307
RE: Bitcoins up 60% in less than a month
I'll just say "Holy fuck!"

fall a sleep on the couch and wake up to a 50$ increase in just two hours
11-17-2013 09:44 PM
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Emancipator Offline
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Post: #308
RE: Bitcoins up 60% in less than a month
(11-17-2013 04:50 PM)bret Wrote:  
(11-04-2013 04:15 PM)Emancipator Wrote:  I'm still in verification limbo (decided not to try out an ATM and paper wallet)

Missing out from this weeks surge of BTC and LTC.

Fuck!

Same here, was £130 per bitcoin when I first thought to buy some, still waiting on verification and last time I checked they were up to £290...

Won't buy now unless they drop back below £150 again

I managed to get in at $300 via a Canadian exchange

Try Localbitcoins

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"If you watch cinderella backwards, its about a woman who learns her place." --Kbell

demographics is destiny
11-18-2013 12:43 AM
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Maciano Offline
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Post: #309
RE: Bitcoins up 60% in less than a month
(11-17-2013 07:56 PM)bret Wrote:  
(11-17-2013 06:53 PM)el mechanico Wrote:  Also I love your British attitudes. You guys need to unlearn them if you want to make and lose money quickly.

What do you mean?
I'm using Mt.Gox to buy a few bitcoins, but it requires a verification process, not sure if other trading situes require it.
After comparing a few sites Mt.Gox looked the best to me but I'm open to suggestions of better sites to use

I guess he means that MtGox' verification isn't something you ought to wait on and that you should find other ways to buy. And I agree. I never bother w/ MtGox. I know nobody who still does. Locabitcoins.com is a good option.

Btw, MtGox failed spectularly -- even if it wasn't totaly their own fault -- in april during the crash and takes ages for pay out in $$.
11-18-2013 07:44 AM
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chyamor Offline
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Post: #310
RE: Bitcoins up 60% in less than a month
can someone please explain what happens if the us government tries to regulate this? I have 5 bitcoins which I got around $85 each. Now being $500 each I am thinking about cashing in one or two unless whatever important fed reserve meeting this week will cause a spike up
11-18-2013 09:12 AM
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el mechanico Offline
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Post: #311
RE: Bitcoins up 60% in less than a month
(11-18-2013 09:12 AM)chyamor Wrote:  can someone please explain what happens if the us government tries to regulate this? I have 5 bitcoins which I got around $85 each. Now being $500 each I am thinking about cashing in one or two unless whatever important fed reserve meeting this week will cause a spike up
How are they going to do that? They can't even get the healthcare website to work.

I say chill out even though I'm cashing some out just to say I won.
11-18-2013 09:50 AM
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babelfish669 Offline
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Post: #312
RE: Bitcoins up 60% in less than a month
Anyone successfully able to cash out very quickly? I saw some complaints about Mt Grox elsewhere.

I'm not touching bitcoin until I see a substantial increase in actual use; based on this there is no usage growth:
http://blockchain.info/charts/n-transactions
11-18-2013 11:53 AM
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Satoshi Offline
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Post: #313
RE: Bitcoins up 60% in less than a month
(11-18-2013 11:53 AM)babelfish669 Wrote:  Anyone successfully able to cash out very quickly? I saw some complaints about Mt Grox elsewhere.

I'm not touching bitcoin until I see a substantial increase in actual use; based on this there is no usage growth:
http://blockchain.info/charts/n-transactions
70.000 / 12.000.000 is a pretty big number. At this point a lot of people who been in it for a longtime is selling of a bit. I bought at 12 pounds in the end of January for a grand and now I've sold two or three away. I mean the value of what I got left is still so much higher than what I put in. And if I were to have this much in cash and no bitcoins at the moment I don't believe I would have bought for them all. It's very clearly in an other bubble now after this latest news in China. Where it will stop and how hard it will crash is unknown. The last one crashed because Mtgox went down and people paincd. Then Mtgox had 80% of the market. Today its more even spread among a few. Btcchina just toke over the lead of volume. If you are buying for a longterm investment I don't think its any bad time to do it.

babelfish669: you can always sell through localbitcoins. That people is still using Mtgox after all the problems is really surprising. I follow bitcoins hard especally in this bubble times and will try to answer all questions in this thread.

(11-13-2013 09:12 PM)Hotwheels Wrote:  The thing is, will people actually spend the things or are they just sitting on them for speculation purposes?

Several underground websites use it. Silk road was the biggest but it got taken town by the FBI in the beginning of this or last month. They had 100.000 users. Alternatives is up now.

Look at the graphs here: https://blockchain.info/sv/charts/market-price
Press all time at the bottom. People buy it for speculation. But when they get the money times 2, 5, 100 or 1000 of course they sell some of, buy some drugs or electronics. The biggest search engine in China just started to accept them, along many others.

And if you understand how the dollars and other currency are created, and how bitcoin works, you will understand how big the chances are for it to actually be the next world currency.
(This post was last modified: 11-18-2013 12:38 PM by Satoshi.)
11-18-2013 12:29 PM
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el mechanico Offline
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Post: #314
RE: Bitcoins up 60% in less than a month
800$ in China right now. God bless them.
11-18-2013 12:52 PM
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Emancipator Offline
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Post: #315
RE: Bitcoins up 60% in less than a month
LTC doubled today! Max Keiser predicts $50/ltc.

What's weird is the price differences at Mt.Gox, BitStamp and BTCChina.

Mother Nature is a bitch & Father Time has an undefeated record
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demographics is destiny
11-18-2013 03:00 PM
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pants Offline
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Post: #316
RE: Bitcoins up 60% in less than a month
I've got a job for real sharks.

1) Buy bitcoin on bitstamp.com at 545USD/BTC

2) Send them to BTCchina.com

3)Sell them in china for 800USD/BTC

4) Send your chinese yuan to Hong Kong

5) Find a Lawyer working in the gray area to help you send them to USA

6) Profit!

Repeat!!
11-18-2013 03:19 PM
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Tex Pro Offline
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Post: #317
RE: Bitcoins up 60% in less than a month
Bitcoins are heading to the moon!

I don't predict a pull back until $1,000/BTC.

I have been selling electronics (at inflated rates) for bitcoins. Paying for them in $$$ is a rookie move.
(This post was last modified: 11-18-2013 03:40 PM by Tex Pro.)
11-18-2013 03:40 PM
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chyamor Offline
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Post: #318
RE: Bitcoins up 60% in less than a month
exploded today
11-18-2013 08:12 PM
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chyamor Offline
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Post: #319
RE: Bitcoins up 60% in less than a month
http://online.wsj.com/news/articles/SB10...0125297358

Federal Reserve Chairman Ben Bernanke, who didn't attend the hearing, said in a letter to senators that virtual currencies "may hold long-term promise, particularly if the innovations promote a faster, more secure, and more efficient payment system."
The price of bitcoin soared early Monday after the officials' statements were widely reported. On one exchange, Tokyo-based Mt. Gox, the price topped $700. Bitcoin traded at about $13 in January.



Tomorrow its going to hit $1,000
11-18-2013 08:36 PM
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el mechanico Offline
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Post: #320
RE: Bitcoins up 60% in less than a month
I jumped off my balcony at the last crash a half hour ago.
11-18-2013 09:15 PM
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Tex Pro Offline
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Post: #321
RE: Bitcoins up 60% in less than a month
Shit, BTC is getting really volatile. There is a lot of profit taking right now.
11-18-2013 09:37 PM
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chyamor Offline
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RE: Bitcoins up 60% in less than a month
11-18-2013 09:41 PM
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babelfish669 Offline
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Post: #323
RE: Bitcoins up 60% in less than a month
(11-18-2013 12:29 PM)friheten Wrote:  babelfish669: you can always sell through localbitcoins.

How many hours do you think it would take to sell $25,000 of bitcoins on localbitcoin at the mtgrox ask rate?
11-18-2013 10:25 PM
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Laurifer Offline
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Post: #324
RE: Bitcoins up 60% in less than a month
God fucking damn it. I have 3.05 Bitcoins tied up in investments right now.
11-18-2013 10:26 PM
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NY Digital Offline
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Post: #325
RE: Bitcoins up 60% in less than a month
I lost out big. I have been completely out of the loop. The luck...

Fuck man.
11-19-2013 12:18 AM
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