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The Bitcoin (BTC) thread
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JayJuanGee Offline
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Post: #1776
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Bloomberg has been increasing its exposure of bitcoin, and this interview with Barry Silbert (even though less than 8 minutes) is fairly interesting - surely they are talking BTC basics and Silbert is a bitcoin bull, but you can get some tidbit sentiments from this clip concerning how sentiments are slowly becoming more accepting of bitcoin.

http://www.bloomberg.com/video/u-s-to-au...sty0A.html
06-25-2014 06:54 PM
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Skye Offline
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Post: #1777
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
They're back up to ~550?! Christ I wish I would have invested years ago when I saw them. I'm gonna have to think about investing, how much have you guys made off them so far?

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06-25-2014 07:01 PM
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JayJuanGee Offline
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Post: #1778
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(06-25-2014 07:01 PM)Skye Wrote:  They're back up to ~550?! Christ I wish I would have invested years ago when I saw them. I'm gonna have to think about investing, how much have you guys made off them so far?

This seems to be a great time to invest... NOT merely B/C BTC is up from a year ago; however, b/c BTC is generally down... BTC has been going down since about early December 2013... so anyhow, you should read up on some of the recent history, including this thread... before you decide your investment plan.. or whether you consider the matter as a potential get rich quick scheme.

Frequently, I recommend dollar cost averaging, but at this point, you may be good to start with a bit of a front loading... you have to decide for yourself the extent to which to diversify your investments and/or your risk tolerance(s).

getting a wallet set up and possibly a Coinbase account would be good starters for someone in the USA.
06-25-2014 07:18 PM
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Satoshi Offline
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Post: #1779
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
http://www.coindesk.com/us-marshals-one-...-bitcoins/


All the coin went to one buyer... Meaning that there is 41 buyers left out? All of them put a $200.000 deposit already. Plus whatever they wanted to bid. This is a hell of a lot of money! Of course they want to get the coins from somewhere else. Didn't think this auction would be so bullish in the end
07-01-2014 04:09 PM
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JayJuanGee Offline
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Post: #1780
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Yep. That's a very interesting and seemingly bullish outcome, even though we he have not received info regarding the exact winning bid amounts (nor the losing bid amounts, which would also be informative).

Another interesting (and unexpected from my perspective) outcome is the one bidder winner of all lots. I agree with u, Satoshi, that the outcome is generally bullish, and in my thinking, for one bidder to win all lots, in competition with more than 40 bidders who also wanted to win at least one of the lots, had to forced a pretty sizable premium in order to achieve such a winning objective.

I question, however, whether any or all of the losing bidders are gonna feel pressed to acquire bitcoins, merely bc they did not win. It would be better to know some or all of the losing bid amounts. Nonetheless, I believe that a reasonable inference can be made that some of these losing bidders will want to acquire bitcoins bc they lost the auction. The quantity is also unclear, even though the whole circumstances of that many losing bidders does seem to be considerably bullish.
07-01-2014 05:53 PM
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username Offline
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Post: #1781
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Hopefully the buyer puts the coins into circulation and will not just hoard them.
07-01-2014 10:40 PM
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JayJuanGee Offline
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Post: #1782
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
I don't see any significant problem with hoarding (or saving or not spending) those 30,000 BTC. Such "hoarding" would not really hurt anyone in the BTC sphere or bitcoin itself.

It's actually the opposite.

I could imagine several worse case scenarios for the buyer to use the 30k bitcoin to attempt to manipulate bitcoin prices by dumping coins in various ways.

However, it seems fairly likely that the winner of the coins paid a premium for them, and therefore there exists less incentive for dumping and more likely the purchaser is in for the long term and even if s/he does dump, there is NOT a financial incentive to dump.

I'm really looking forward to finding out more info regarding both the price of the winning and the losing bids.
07-01-2014 11:50 PM
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Satoshi Offline
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Post: #1783
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
http://www.chicagotribune.com/business/b...8036.story

30.000BTC Silk road coins sold for $18.000.000
= $600 each in US government auction
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07-02-2014 08:42 AM
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pants Offline
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Post: #1784
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
One buyer, 18.000.000 USD, 30.000 BTC.

Starting to feel a bit paranoid.

Whats this guys plan?

600 usd/btc is way above what I expected though.
07-02-2014 09:48 AM
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el mechanico Offline
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Post: #1785
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(07-02-2014 09:48 AM)pants Wrote:  One buyer, 18.000.000 USD, 30.000 BTC.

Starting to feel a bit paranoid.

Whats this guys plan?

600 usd/btc is way above what I expected though.
Well he cant sell them for 642 because the second he starts they will be 500 in one minute.

So Hodl!
07-02-2014 09:52 AM
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JJ Roberts Offline
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Post: #1786
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Draper intends to partner with Vaurum to use the roughly 30,000 BTC to provide bitcoin liquidity in emerging markets.

Draper said:

“With the help of Vaurum and this newly purchased bitcoin, we expect to be able to create new services that can provide liquidity and confidence to markets that have been hamstrung by weak currencies.”
07-02-2014 12:11 PM
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strengthstudent Offline
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Post: #1787
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Great news... great news... 2014 is getting better and better. Year ago Bitcoin was almost nothing, now it is more than something.
07-02-2014 12:31 PM
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el mechanico Offline
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Post: #1788
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
I said somewhere in this thread that BTC would be perfect for countries with shit money. So this dude is going to make it work for them while lining his pockets. Fuck China and their drama anyway.

I think were going up.

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(This post was last modified: 07-02-2014 12:40 PM by el mechanico.)
07-02-2014 12:38 PM
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strengthstudent Offline
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Post: #1789
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
I cannot think of any other instrument, policy or action which could be as effective for helping developing countries than Bitcoin, because the corruption of money is so bad there. All the leftists and charity folks who claim to care for these people, especially the poor, should really be interested in Bitcoin because this is a HUGE thing for the poorest of the poor.
(This post was last modified: 07-02-2014 01:36 PM by strengthstudent.)
07-02-2014 01:36 PM
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Cattle Rustler Offline
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Post: #1790
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(07-02-2014 01:36 PM)strengthstudent Wrote:  I cannot think of any other instrument, policy or action which could be as effective for helping developing countries than Bitcoin, because the corruption of money is so bad there. All the leftists and charity folks who claim to care for these people, especially the poor, should really be interested in Bitcoin because this is a HUGE thing for the poorest of the poor.

Explain how you would buy eggs, water, rice, and diapers in BTC while shopping at your local Harare street stall....

I'm curious

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07-07-2014 01:42 AM
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strengthstudent Offline
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Post: #1791
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(07-07-2014 01:42 AM)Cattle Rustler Wrote:  
(07-02-2014 01:36 PM)strengthstudent Wrote:  I cannot think of any other instrument, policy or action which could be as effective for helping developing countries than Bitcoin, because the corruption of money is so bad there. All the leftists and charity folks who claim to care for these people, especially the poor, should really be interested in Bitcoin because this is a HUGE thing for the poorest of the poor.

Explain how you would buy eggs, water, rice, and diapers in BTC while shopping at your local Harare street stall....

I'm curious

Well, the absolute poorest won't be able to afford smart phones but even those are getting so cheap that they are becoming very common in Africa. In fact, in a few years most of the Africans will own a smart phone. Even without the phones, you don't necessarily need electronics with bitcoin, because you can print some bitcoins on a paper/card with a QR code -- in this occasion only the seller would need to have a phone.
07-07-2014 05:26 AM
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PakiRambo Offline
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Post: #1792
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
After reading the BTC thread, and researching on BTC myself, I just kicked muyself in the head for not looking into it back in 2012 when it was 12USD, as compared to 629USD today Exclamation[/align]
07-07-2014 07:19 AM
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Satoshi Offline
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Post: #1793
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(07-07-2014 07:19 AM)PakiRambo Wrote:  After reading the BTC thread, and researching on BTC myself, I just kicked muyself in the head for not looking into it back in 2012 when it was 12USD, as compared to 629USD today Exclamation[/align]
Man can you imagine that you did know about it 2012 but didn't buy more? Could have been financially independent by now.

Or selling in October last year and then see it go up 5-10x? Or a month ago at $340?

But of course it's pretty sweet.

Laugh3
07-07-2014 10:43 AM
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Cattle Rustler Offline
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Post: #1794
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(07-07-2014 10:43 AM)Satoshi Wrote:  
(07-07-2014 07:19 AM)PakiRambo Wrote:  After reading the BTC thread, and researching on BTC myself, I just kicked muyself in the head for not looking into it back in 2012 when it was 12USD, as compared to 629USD today Exclamation[/align]
Man can you imagine that you did know about it 2012 but didn't buy more? Could have been financially independent by now.

Or selling in October last year and then see it go up 5-10x? Or a month ago at $340?

But of course it's pretty sweet.

Laugh3

I remember reading about BTC before it's launch. At the time I told myself "Hah, don't invest in it. It's some geek shit that will fail in a few years!"

Sad

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07-07-2014 01:02 PM
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pants Offline
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Post: #1795
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Should have just installed their software on your laptop and kept it running

Maybe mined 10 000 BTC in the first year, costing you maybe 100USD tops in electricity.


You could live on one of these! "What if?!" Its a fun game isn't it BananaBananaBanana
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07-07-2014 01:16 PM
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JayJuanGee Offline
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Post: #1796
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(07-07-2014 05:26 AM)strengthstudent Wrote:  
(07-07-2014 01:42 AM)Cattle Rustler Wrote:  
(07-02-2014 01:36 PM)strengthstudent Wrote:  I cannot think of any other instrument, policy or action which could be as effective for helping developing countries than Bitcoin, because the corruption of money is so bad there. All the leftists and charity folks who claim to care for these people, especially the poor, should really be interested in Bitcoin because this is a HUGE thing for the poorest of the poor.

Explain how you would buy eggs, water, rice, and diapers in BTC while shopping at your local Harare street stall....

I'm curious

Well, the absolute poorest won't be able to afford smart phones but even those are getting so cheap that they are becoming very common in Africa. In fact, in a few years most of the Africans will own a smart phone. Even without the phones, you don't necessarily need electronics with bitcoin, because you can print some bitcoins on a paper/card with a QR code -- in this occasion only the seller would need to have a phone.

I believe that the m-pesa mobile phone money transfer system in Africa, to which S_Student seems to refer, does NOT necessarily require a smart phone, and merely having the ability to send text messages from your phone is sufficient. There is at least one company attempting to bring these abilities to bitcoin.

Even though some of these various technologies (and software applications) may NOT currently be in place for bitcoin in a user-friendly breadth, there is continuing to be several venture capital developments regarding creating and spreading more extensive user friendliness.

Currently, there may NOT be a lot of ease of use solutions in place concerning spending bitcoin, and in that regard, we need to have some patience or at least monitor how this is developing. Many people who are bullish about bitcoin expect these improvements in the future rather than believing that these improvements need to be in place in the present in order for bitcoin to be valuable in the present.
07-07-2014 03:29 PM
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JayJuanGee Offline
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Post: #1797
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(07-07-2014 01:02 PM)Cattle Rustler Wrote:  
(07-07-2014 10:43 AM)Satoshi Wrote:  
(07-07-2014 07:19 AM)PakiRambo Wrote:  After reading the BTC thread, and researching on BTC myself, I just kicked muyself in the head for not looking into it back in 2012 when it was 12USD, as compared to 629USD today Exclamation[/align]
Man can you imagine that you did know about it 2012 but didn't buy more? Could have been financially independent by now.

Or selling in October last year and then see it go up 5-10x? Or a month ago at $340?

But of course it's pretty sweet.

Laugh3

I remember reading about BTC before it's launch. At the time I told myself "Hah, don't invest in it. It's some geek shit that will fail in a few years!"

Sad

Certainly, in recent years, there has been a large amount of appreciation in bitcoin prices, yet there seems to remains considerable potential for additional BTC price appreciation in the next coming years.

I don't see any real value in contemplating what would have happened if I had invested in bitcoin 1 or 2 years earlier. There are other crypto currencies, as well that have a considerable potential for upside growth, yet bitcion still remains to be a decent bet for upside growth in the coming years.
07-07-2014 10:36 PM
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jamaicabound Offline
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Post: #1798
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
What other coins you like. I got into volt a while back that went nowhere. Dogecoin was hot for a minute havn't checked it in a while though. I think most people dont understand pros and cons of the different coins from a tech perspective of how quickly can transactions be processed, how safe is it, etc so I think it mainly cones down to marketing or how cool the name or logo is for a coin. When washington and colorado legalized pot POT coins were hot but I think has fallen off. Bitcoin is the most widely accepted and household name I think thats the "safest" play unless you just wana swingtrade other coins or gamble and treat them like a roullette wheel and hope one hits. I signed up for cryptorush to trade the smaller lesser known coins and then all that bs happenned. Site has a much better layout and do acknowledge I have a balance but cant do anything or login or trade or cashout
07-08-2014 10:15 AM
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brg444 Offline
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Post: #1799
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(07-08-2014 10:15 AM)jamaicabound Wrote:  What other coins you like. I got into volt a while back that went nowhere. Dogecoin was hot for a minute havn't checked it in a while though. I think most people dont understand pros and cons of the different coins from a tech perspective of how quickly can transactions be processed, how safe is it, etc so I think it mainly cones down to marketing or how cool the name or logo is for a coin. When washington and colorado legalized pot POT coins were hot but I think has fallen off. Bitcoin is the most widely accepted and household name I think thats the "safest" play unless you just wana swingtrade other coins or gamble and treat them like a roullette wheel and hope one hits. I signed up for cryptorush to trade the smaller lesser known coins and then all that bs happenned. Site has a much better layout and do acknowledge I have a balance but cant do anything or login or trade or cashout

alt coins are 99.9% pump and dump scam.
07-09-2014 02:27 PM
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JayJuanGee Offline
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Post: #1800
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(07-09-2014 02:27 PM)brg444 Wrote:  
(07-08-2014 10:15 AM)jamaicabound Wrote:  What other coins you like. I got into volt a while back that went nowhere. Dogecoin was hot for a minute havn't checked it in a while though. I think most people dont understand pros and cons of the different coins from a tech perspective of how quickly can transactions be processed, how safe is it, etc so I think it mainly cones down to marketing or how cool the name or logo is for a coin. When washington and colorado legalized pot POT coins were hot but I think has fallen off. Bitcoin is the most widely accepted and household name I think thats the "safest" play unless you just wana swingtrade other coins or gamble and treat them like a roullette wheel and hope one hits. I signed up for cryptorush to trade the smaller lesser known coins and then all that bs happenned. Site has a much better layout and do acknowledge I have a balance but cant do anything or login or trade or cashout

alt coins are 99.9% pump and dump scam.


I would ballpark estimate alt coins to be more than 90% pump and dump scam, and the remaining 9% are likely NOT going to be able to accomplish any kind of meaningful networking effect to be better investments than bitcoin and the remaining .9% may have a chance to complete with bitcoin, but will likely fail, and there may be .1% or less of them that could in the long term give bitcoin a run for its money.

In any event, there may be ways to make money on the various alt coins, but for long term thinking and some additional security in one's investment, bicoin is the place to be.

I don't doubt that there will be a large number of people get rich or poor with some of the other various alternative crypto currencies; however, I, personally, do NOT have time to track the details of such trading and/or timing.
07-09-2014 04:20 PM
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