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The Bitcoin (BTC) thread
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Satoshi Offline
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Post: #1651
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-21-2014 07:13 AM)shanked Wrote:  I will most likely be investing into this but that's just me I am a risk taker, I am young and I love it. There is a specific term for this type of mindset but I cannot remember it. The theory behind it is that you should take more risks when you are younger as they are more likely to pay off at some point and if they do your end money before you retire has the potential to be exponentially larger than if you were to just keep your money in a bank. As you get older it is better to take less and less risks as your life span is coming to a close.

Then again this could just be some massive scam where you send your bitcoins to the address and the guy that made the website gets super rich lol.
Yepp I feel the same as you. I'm not playing with my lifesaving's, in the same way that I saw the chances of Bitcoin growing and becoming more valuable when I bought over a year ago I see the SAFE network's chances and potential today.

(04-21-2014 07:45 AM)brg444 Wrote:  If the Safecoin is not pegged to the Bitcoin blockchain, it is not secure.

If it is not secure it cannot succeed.


Sidechains will render all these altcoins irrelevant.

Hell, they already are

That's just bullshit. You don't know what you are talking about.

(04-21-2014 11:03 AM)el mechanico Wrote:  Fiatleak China going nuts. What does it mean?

As I understand it Fiatleak is just a site to see trading volume and that seems to make sens since the volume on Houbi was pretty high at the time you posted yesturday, according to bitcoinwisdom. Please correct me if I'm wrong and it's working in another way.

(04-21-2014 01:21 PM)strengthstudent Wrote:  For the next weeks/months we will probably keep going up imo with occasional smaller drops of course, I think we touched the bottom already. If we hit a bubble soon, then it is scary how closely the future booms and busts follow the past trends. If it happens again, then we can expect it to happen again again and over again. To the moon.

Yeah that drop down to $339 was so quick it's pretty clear we don't belong there.

(04-21-2014 08:15 PM)brg444 Wrote:  mate,

the question is what is the best bang for your buck

and the answer is bitcoin.

That might not at all be true. Bitcoin has been around for over five years now and already increased in price massively. We can go $500 - $5.000 - $50.000 - $500.000 but at some point those $ will be useless, and we will probably see other technology's increase faster that Bitcoin, ex from $0.000001 - $500. However the most risk free investment right now would be Bitcoin.

(04-22-2014 02:56 PM)JayJuanGee Wrote:  I find it difficult enough to keep up with all of the news, developments and FUD (Fear, Uncertainty and Doubt) related to bitcoin, and even though several of the developments of various alternative crypto-currencies may be related to bitcoin, sometimes that relationship to bitcoin is a stretch.

Sometimes the pump and dump does blemish bitcoin.

Even though Bitcoin remains a risky investment in a variety of ways (b/c it is heavily manipulated, government regulation boundaries are uncertain and there remain various scandals), Bitcoin is going to be a much safer investment than any of these other cryptos b/c of its market cap size and because of the vast development around bitcoin.

Additionally, there remains considerable upside potential for bitcoin and its prices, so guys should NOT feel like they missed the investment opportunity boat with bitcoin, merely b/c there has already been a considerable amount of bitcoin price appreciation.

It may be better to have another thread concerning the discussion of alternate cryptos b/c we could get so side-tracked from our bitcoin discussions that we miss important bitcoin news and developments b/c we are talking about various thousands of pump and dump alt-cryptos?

This is not a pump and dump, ignore brg444 and his FUD article.

Here is the official press release:
http://launch.it/launch/maidsafe-sells-6...five-hours
They've been working on this for EIGHT years and already got lot's funding already. If you try to understand what it's about you will see that it's not another bitcoin or litecoin clone but something completely new and innovative... Similar to what Bitcoin were five years ago. From the press release:
Quote:Upon the completion of this crowd-sale, the value of existing safecoins will be approximately $24 million, with the remaining 70 percent of a capped number (like Bitcoin) of safecoins to be “farmed” (analogous to mining, but created by contributing resources, such as storage space) by anyone who wishes to add value to the network.
$24 milion market cap would MaidSafeCoin on sixth place on the coinmarketcap right now. After forexample dogecoin witch isn't more than a joke. Undervalued IMO. Hoping to get my hands on a few more using Mastercoin, and I think it's possible too...

Also the Mastercoin guys is doing a "formal retrospective" on the problem that the article brg444 posted:
https://docs.google.com/document/d/1Oo8b...z6ahM/edit
Enough on that now.

IMO Bitcoin is one of the safest investments there is right now, what else to put the money in? Some stock stable stock that might give a small steady return every year. Or some risky stock that might fail. Or keep the money in fiat witch every day loses it's value since the paper prints just keep going. The only better investment I might see is metals as gold and silver. Now I'm not an economical expert or anything, but that's just my opinion.

(04-22-2014 04:59 PM)void Wrote:  I want to fuck around with BTC. I have ~10k in fluent assets to invest which is a good start. Where should I buy? Which BTC Exchange?
After the Mt. Gox crash, the reality hit hard that no one will bail out a trading place that has fucked up their business model.
I know I can store my BTC in my own wallet and dont need a exchange for that, but I'd like to have one reliable trading place.

If you are in Europe kraken.com is a safe option. They've had themself investigated and been reliable since day one with great costumer support and quick deposits and withdrawals, usually one day for me when using SEPA transfer.. Witch seems to be the best option to transfer money between EU-banks.
http://www.coindesk.com/krakens-audit-pr...s-reserve/

Another option is https://safello.com/ which got contracts whit lot's of European banks.

Bitstamp.com is another option which has been around since 2011. There might also be some local options for you, depending on where you are. It's much easier to trade Bitcoins today than it were a year or three years ago. MtGox failed but anyone who been following knew that them were risky and unreliable long long time ago.
(This post was last modified: 04-22-2014 07:33 PM by Satoshi.)
04-22-2014 07:02 PM
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shanked Offline
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Post: #1652
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
So I bought in early 1hr30min after launch but not sure how to view the coins yet. Do I need to know my private key? :/

I am confident this is not a scam even though they really fucked up with the mastercoins causing them to be pumped and dumped within a few hours when they changed the rules and wouldn't receive them anymore. Either this was planned and they made a shitload of money of this or they are stupid for overlooking the discount you get when you buy with mastercoin.
04-22-2014 07:40 PM
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Post: #1653
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-22-2014 07:02 PM)Satoshi Wrote:  
(04-22-2014 02:56 PM)JayJuanGee Wrote:  I find it difficult enough to keep up with all of the news, developments and FUD (Fear, Uncertainty and Doubt) related to bitcoin, and even though several of the developments of various alternative crypto-currencies may be related to bitcoin, sometimes that relationship to bitcoin is a stretch.

Sometimes the pump and dump does blemish bitcoin.

Even though Bitcoin remains a risky investment in a variety of ways (b/c it is heavily manipulated, government regulation boundaries are uncertain and there remain various scandals), Bitcoin is going to be a much safer investment than any of these other cryptos b/c of its market cap size and because of the vast development around bitcoin.

Additionally, there remains considerable upside potential for bitcoin and its prices, so guys should NOT feel like they missed the investment opportunity boat with bitcoin, merely b/c there has already been a considerable amount of bitcoin price appreciation.

It may be better to have another thread concerning the discussion of alternate cryptos b/c we could get so side-tracked from our bitcoin discussions that we miss important bitcoin news and developments b/c we are talking about various thousands of pump and dump alt-cryptos?

This is not a pump and dump, ignore brg444 and his FUD article.

Here is the official press release:
http://launch.it/launch/maidsafe-sells-6...five-hours
They've been working on this for EIGHT years and already got lot's funding already. If you try to understand what it's about you will see that it's not another bitcoin or litecoin clone but something completely new and innovative... Similar to what Bitcoin were five years ago.

I realize that in earlier posts you had already described both maidensafe and mastercoin regarding how they relate to bitcoin and in some ways these ventures build upon the bitcoin protocol.

There may be various ways in which they are pegged to the success of bitcoin, and those factors can change over time or can affect whether and/or how much a guy chooses to invest in these technologies.

I keep making the mistake of lumping together various alt coins and bitcoin related investments, and I am NOT doing that on purpose. It just gets a little bit confusing for me to keep up with all the various ways to invest in crypto currency projects.. and some of them overlap with others and some relate to bitcoin more than others, that is for sure.

I doubt that BRG444 is being disingenuous in his having had shared the link to the article b/c there is a lot of conflicting information out there in the press. We know the same is true for bitcoin. It can take quite a long time to sort through the FUD and the NON-FUD to uncover the various sources that are more or less trustworthy.

So thanks for providing the link to the other article that you believe is more descriptive of the project, and surely guys here can come to their own determinations regarding when, if and/or how much to invest in any given project and the extent to which they feel that it is necessary to diversify the allocation(s) of their investments.

Each of us is probably aware that very good and potentially profitable crypto-currency investments could be overlooked, and getting into those investments on the ground floor could cause a guy to receive absolutely astronomical returns on his investment.

And, also guys can profit considerably from pump and dump or ponzi schemes, if he can time his investment in either a lucky or informed way.

Likely very profitable investments may be ones in which others do NOT recognize the value until later or ones in which you get very lucky with your timing.


(04-22-2014 07:02 PM)Satoshi Wrote:  IMO Bitcoin is one of the safest investments there is right now, what else to put the money in? Some stock stable stock that might give a small steady return every year. Or some risky stock that might fail. Or keep the money in fiat witch every day loses it's value since the paper prints just keep going. The only better investment I might see is metals as gold and silver. Now I'm not an economical expert or anything, but that's just my opinion.

It seems that we agree here.

Your above description goes to the question of diversification of resources, and to me, at this moment, bitcoin has much more potential than any of the precious metals or stocks that I know about, but any investment can have its potentials in different ways. Each of us will decide differently how to allocate our investments, and the extent to which we may choose various stocks or precious metals.

Some investment portfolios are going to do better than others, and there is NOTHING wrong with that. I applaud any guy who profits from making the right investments and times his investments well.

I repeat that it is my belief that, here in this thread, we should NOT feel compelled to try to compete with each other concerning the payoff, or lack thereof, that we may receive with any of our crypto currency related investment choices b/c it can become fairly stressful choosing how to allocate our resources and even more stressful when certain bets do NOT pay off.

Actually, nearly any investment in the crypto-currency sphere is going to receive a certain amount of manipulation, and some of that manipulation is going to cause erratic outcomes that may cause guys to lose considerably or to gain considerably, depending on the direction of the manipulation... Also, whether there is manipulation or NOT, some investments will pay off b/c the fundamentals of that investment are strong... and some of us are going to disagree about how much weight, if any, to give to various fundamentals.
04-22-2014 07:43 PM
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brg444 Offline
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Post: #1654
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-22-2014 07:02 PM)Satoshi Wrote:  
(04-21-2014 07:45 AM)brg444 Wrote:  If the Safecoin is not pegged to the Bitcoin blockchain, it is not secure.

If it is not secure it cannot succeed.


Sidechains will render all these altcoins irrelevant.

Hell, they already are

That's just bullshit. You don't know what you are talking about.

lemme apologize for that. you are right that I didn't study Maidsafe enough and shouldn't have made that statement

I hated people doing that when discussing bitcoin too Confused
04-22-2014 07:51 PM
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Post: #1655
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-22-2014 07:40 PM)shanked Wrote:  So I bought in early 1hr30min after launch but not sure how to view the coins yet. Do I need to know my private key? :/

I am confident this is not a scam even though they really fucked up with the mastercoins causing them to be pumped and dumped within a few hours when they changed the rules and wouldn't receive them anymore. Either this was planned and they made a shitload of money of this or they are stupid for overlooking the discount you get when you buy with mastercoin.

I understand that you are going to be paying more attention to any investment that you actually made, so there may NOT be too many guys in this thread that are choosing to invest in maidsafecoin - however, do you know whether at some point the maidsafecoin will be listed on the coinmarket cap website? Mastercoin has been listed on that website for several months.
04-22-2014 07:52 PM
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-22-2014 07:43 PM)JayJuanGee Wrote:  I keep making the mistake of lumping together various alt coins and bitcoin related investments, and I am NOT doing that on purpose. It just gets a little bit confusing for me to keep up with all the various ways to invest in crypto currency projects.. and some of them overlap with others and some relate to bitcoin more than others, that is for sure.

Admittedly I am guilty of that as well.

I'm already in way over my head with Bitcoin and I am so obsessed with its scale and possibilities I have a tendency to dismiss altcoins in general.

It is very hard to keep track of what is real and what is not in this crypto world.
04-22-2014 07:55 PM
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-22-2014 07:02 PM)Satoshi Wrote:  IMO Bitcoin is one of the safest investments there is right now, what else to put the money in? Some stock stable stock that might give a small steady return every year. Or some risky stock that might fail. Or keep the money in fiat witch every day loses it's value since the paper prints just keep going. The only better investment I might see is metals as gold and silver. Now I'm not an economical expert or anything, but that's just my opinion.

http://blog.oleganza.com/post/6787277234...n-and-gold

this guy makes a pretty compelling point about how Bitcoin will eventually kill the value of gold.

I tend to agree with him. Understandably, many people are waiting for this killer app for Bitcoin that will propel its adoption worldwide. I always felt like the bitcoins themselves are the killer app. At ground level, Bitcoin is digital gold and once people understand this and accept that traditional concepts of money and store of value are outdated, Bitcoin will be accepted as the scarce resource that it is.
(This post was last modified: 04-22-2014 08:04 PM by brg444.)
04-22-2014 08:02 PM
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-22-2014 07:55 PM)brg444 Wrote:  
(04-22-2014 07:43 PM)JayJuanGee Wrote:  I keep making the mistake of lumping together various alt coins and bitcoin related investments, and I am NOT doing that on purpose. It just gets a little bit confusing for me to keep up with all the various ways to invest in crypto currency projects.. and some of them overlap with others and some relate to bitcoin more than others, that is for sure.

Admittedly I am guilty of that as well.

I'm already in way over my head with Bitcoin and I am so obsessed with its scale and possibilities I have a tendency to dismiss altcoins in general.

It is very hard to keep track of what is real and what is not in this crypto world.

Yes. Each of us come to this crypto-currency matter from different perspectives, and hopefully, the longer that we are involved and/or invested in bitcoin (or related crypto projects), the better we will get at articulating our assessments and separating the FUD from the NON-FUD.

Though I think that any of us can get tricked about whether a project or a coin is a pump and dump or NOT, and realizing our own ability to be tricked should help us to empathize with regular lay people who have had even less exposure than us to bitcoin and/or various crypto currency projects.
04-22-2014 08:11 PM
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Satoshi Offline
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-22-2014 07:40 PM)shanked Wrote:  So I bought in early 1hr30min after launch but not sure how to view the coins yet. Do I need to know my private key? :/

I am confident this is not a scam even though they really fucked up with the mastercoins causing them to be pumped and dumped within a few hours when they changed the rules and wouldn't receive them anymore. Either this was planned and they made a shitload of money of this or they are stupid for overlooking the discount you get when you buy with mastercoin.

You can check your balance at
https://masterchest.info/ and
https://test.omniwallet.org/
Yes you do need to know your private key to be able to send them anywhere. If you don't I don't know what to do. Maybe you could get them from your wallet provider or something... If you had it sent to coinbase for example. If you bought with BTC there will also take about 24h for it to show in the wallet according to the website.

(04-22-2014 08:02 PM)brg444 Wrote:  I tend to agree with him. Understandably, many people are waiting for this killer app for Bitcoin that will propel its adoption worldwide. I always felt like the bitcoins themselves are the killer app. At ground level, Bitcoin is digital gold and once people understand this and accept that traditional concepts of money and store of value are outdated, Bitcoin will be accepted as the scarce resource that it is.

Yeah.. I don't know how long it will take before we get worldwide adoption. Right now only 2.4billion of 7billion people in the world are using internet. Only 10% of the Iceland population has so far got their auroracoins. Wish is strange because they are still trading at about 0.0014 * 30 = 0.042BTC wish is about $21. Put people are stupid. I told many people about Bitcoin and no one take the time to learn about it. And looking at google trends the only time it gets lots of searches is when there is a rapid increase in price. But it's growing everyday anyway.
04-22-2014 10:24 PM
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shanked Offline
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Quote:You can check your balance at
https://masterchest.info/ and
https://test.omniwallet.org/
Yes you do need to know your private key to be able to send them anywhere. If you don't I don't know what to do. Maybe you could get them from your wallet provider or something... If you had it sent to coinbase for example. If you bought with BTC there will also take about 24h for it to show in the wallet according to the website.

I bought with bitcoin so it wasn't instant like mastercoin. Can see my coins here though Big Grin. Had quick look and someone invested 902 bitcoins! Close to $0.5million
https://docs.google.com/spreadsheets/d/1...sp=sharing

So I made a mistake though buying the coins through a different site other than blockchain.info now I have to try and get my private key :/ very confusing.
04-23-2014 02:08 AM
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Satoshi Offline
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-23-2014 02:08 AM)shanked Wrote:  
Quote:You can check your balance at
https://masterchest.info/ and
https://test.omniwallet.org/
Yes you do need to know your private key to be able to send them anywhere. If you don't I don't know what to do. Maybe you could get them from your wallet provider or something... If you had it sent to coinbase for example. If you bought with BTC there will also take about 24h for it to show in the wallet according to the website.

I bought with bitcoin so it wasn't instant like mastercoin. Can see my coins here though Big Grin. Had quick look and someone invested 902 bitcoins! Close to $0.5million
https://docs.google.com/spreadsheets/d/1...sp=sharing

So I made a mistake though buying the coins through a different site other than blockchain.info now I have to try and get my private key :/ very confusing.
What service did you use? It says on the buying page that you shouldn't do that but it might be easy to miss. Let us know how it goes... It might be lost.
04-23-2014 02:47 AM
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-22-2014 10:24 PM)Satoshi Wrote:  
(04-22-2014 07:40 PM)shanked Wrote:  So I bought in early 1hr30min after launch but not sure how to view the coins yet. Do I need to know my private key? :/

I am confident this is not a scam even though they really fucked up with the mastercoins causing them to be pumped and dumped within a few hours when they changed the rules and wouldn't receive them anymore. Either this was planned and they made a shitload of money of this or they are stupid for overlooking the discount you get when you buy with mastercoin.

You can check your balance at
https://masterchest.info/ and
https://test.omniwallet.org/
Yes you do need to know your private key to be able to send them anywhere. If you don't I don't know what to do. Maybe you could get them from your wallet provider or something... If you had it sent to coinbase for example. If you bought with BTC there will also take about 24h for it to show in the wallet according to the website.

(04-22-2014 08:02 PM)brg444 Wrote:  I tend to agree with him. Understandably, many people are waiting for this killer app for Bitcoin that will propel its adoption worldwide. I always felt like the bitcoins themselves are the killer app. At ground level, Bitcoin is digital gold and once people understand this and accept that traditional concepts of money and store of value are outdated, Bitcoin will be accepted as the scarce resource that it is.

Yeah.. I don't know how long it will take before we get worldwide adoption. Right now only 2.4billion of 7billion people in the world are using internet. Only 10% of the Iceland population has so far got their auroracoins. Wish is strange because they are still trading at about 0.0014 * 30 = 0.042BTC wish is about $21. Put people are stupid. I told many people about Bitcoin and no one take the time to learn about it. And looking at google trends the only time it gets lots of searches is when there is a rapid increase in price. But it's growing everyday anyway.

auroracoin was always never going to work anyway. classic pump & dump
04-23-2014 09:55 AM
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
What bitcoin/crypto related sites are people browsing on a daily basis?

I´m browsing reddit.com/r/bitcoin bitcoinity.org/markets and this thread.
04-23-2014 11:43 AM
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Im in Europe/Germany, thanks for the tips about the different exchanges. I will research your suggestions :thumbs up:

Brought to you by Carl's Jr.
04-23-2014 06:09 PM
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Satoshi Offline
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-23-2014 09:55 AM)brg444 Wrote:  auroracoin was always never going to work anyway. classic pump & dump

The idea is great to get cryptocurrencies in the hands of people. Pump and dump is done my traders. It's a free market and some people maybe thought they were worth $50 each. Was a little hype there for a while...

(04-23-2014 11:43 AM)pants Wrote:  What bitcoin/crypto related sites are people browsing on a daily basis?

I´m browsing reddit.com/r/bitcoin bitcoinity.org/markets and this thread.

I'm in a Skype group and sometimes I take a look in the wallobeserver thread in the speculation forum on bitcointalk if there is price movements. Also doing some other reading on bitcointalk. bitcoinwisdom is almost always open.
(This post was last modified: 04-24-2014 12:33 AM by Satoshi.)
04-24-2014 12:32 AM
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-24-2014 12:32 AM)Satoshi Wrote:  
(04-23-2014 09:55 AM)brg444 Wrote:  auroracoin was always never going to work anyway. classic pump & dump

The idea is great to get cryptocurrencies in the hands of people. Pump and dump is done my traders. It's a free market and some people maybe thought they were worth $50 each. Was a little hype there for a while...

Personally, I think that the Auroracoin idea was great, if it had NOT been a pump and dump. B/c if they could have pulled it off in a sincere and meaningful way, it could have been simply amazing.

Something like this may be successful in the future, if it is attempted with good intentions, and possibly playing on an infrastructure that is already in place, like a side chain of bitcoin would probably work better, once bitcoin networks are already in place.






(04-24-2014 12:32 AM)Satoshi Wrote:  
(04-23-2014 11:43 AM)pants Wrote:  What bitcoin/crypto related sites are people browsing on a daily basis?

I´m browsing reddit.com/r/bitcoin bitcoinity.org/markets and this thread.

I'm in a Skype group and sometimes I take a look in the wallobeserver thread in the speculation forum on bitcointalk if there is price movements. Also doing some other reading on bitcointalk. bitcoinwisdom is almost always open.

I use the ZeroBlock app on my IPhone that highlights a lot of the reddit bitcoin articles. I also look at several of the threads on bitcointalk.org. If something comes up that is of interest, I will also do a google search of the term to find other current articles or information.
04-24-2014 12:45 AM
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
I searched the thread but didn't see any information about this site...
Purse.io

Basically it is a way of buying Bitcoins or selling Bitcoins through Amazon purchases. For example, if I want .1 Bitcoin, I will buy somebody something that cost ~$50 from Amazon and pay with my credit card. After it ships the escrow pays me. Same goes for the reverse, if I want something on Amazon I can pay Bitcoins for it. The interesting part is that people are valuing Bitcoins higher than the current market price. The last 5 transactions value 1 Bitcoin at $543, $698, $752, $525, and $611. (~$625 average) So by converting cash to Bitcoin to Amazon you can get a 20% discount on what you buy.

I haven't tested it so it could be a scam but looks legit.
04-24-2014 01:47 AM
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RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-24-2014 01:47 AM)username Wrote:  I searched the thread but didn't see any information about this site...
Purse.io

Basically it is a way of buying Bitcoins or selling Bitcoins through Amazon purchases. For example, if I want .1 Bitcoin, I will buy somebody something that cost ~$50 from Amazon and pay with my credit card. After it ships the escrow pays me. Same goes for the reverse, if I want something on Amazon I can pay Bitcoins for it. The interesting part is that people are valuing Bitcoins higher than the current market price. The last 5 transactions value 1 Bitcoin at $543, $698, $752, $525, and $611. (~$625 average) So by converting cash to Bitcoin to Amazon you can get a 20% discount on what you buy.

I haven't tested it so it could be a scam but looks legit.

It does look legit, yet it would be good to hear from some guys who may have actually used such service.

The part that seems almost too good to be true is if they are going to give you that much of a higher exchange rate; however, if they are expecting BTC prices to go up, then it may NOT be too unreasonable for them to make the sale at such an exchange rate... b/c it still may be profitable for them.

It seems that once a guy uses the purse.io services, then he would have access to all items on Amazon b/c the purse.io is serving as the intermediary purchasing service and the seller is receiving the dollar value of the sold item.
04-24-2014 02:07 AM
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Satoshi Offline
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Post: #1669
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-24-2014 02:07 AM)JayJuanGee Wrote:  
(04-24-2014 01:47 AM)username Wrote:  I searched the thread but didn't see any information about this site...
Purse.io

Basically it is a way of buying Bitcoins or selling Bitcoins through Amazon purchases. For example, if I want .1 Bitcoin, I will buy somebody something that cost ~$50 from Amazon and pay with my credit card. After it ships the escrow pays me. Same goes for the reverse, if I want something on Amazon I can pay Bitcoins for it. The interesting part is that people are valuing Bitcoins higher than the current market price. The last 5 transactions value 1 Bitcoin at $543, $698, $752, $525, and $611. (~$625 average) So by converting cash to Bitcoin to Amazon you can get a 20% discount on what you buy.

I haven't tested it so it could be a scam but looks legit.

It does look legit, yet it would be good to hear from some guys who may have actually used such service.

The part that seems almost too good to be true is if they are going to give you that much of a higher exchange rate; however, if they are expecting BTC prices to go up, then it may NOT be too unreasonable for them to make the sale at such an exchange rate... b/c it still may be profitable for them.

It seems that once a guy uses the purse.io services, then he would have access to all items on Amazon b/c the purse.io is serving as the intermediary purchasing service and the seller is receiving the dollar value of the sold item.
That's smart. Price might be higher since there you can buy BTC using credit card, which is difficult. It's been around since October: https://bitcointalk.org/index.php?topic=307922.0
04-24-2014 02:36 AM
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brg444 Offline
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Post: #1670
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
http://www.coindesk.com/xapo-launches-bi...locations/

This is a huge, huge step.

I expect other major wallet companies to follow with similar announcements
04-24-2014 12:04 PM
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shanked Offline
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Post: #1671
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
So this is what happened. I invested all my bitcoin into maidsafe through coinspot.com.au but found out the investment needed to be done through a wallet where you had control over your private key. Anyone who was in the same position as me should have got a refund. At the time they were sending the refund there was apparently 600coins left and as it was 1am I was too tired to stay awake for the coins to come back and thinking there would be time to rebuy into it when I woke up.

I checked my btc wallet this morning and the coins are back in but sadly.. the crowd sale has ended. Really fucking sad now that I missed out.

And just checked the price on the exchange I would have increased my investment by over 100% already. Think Im going to buyin now anyway, don't want to one day me shooting myself in the face for missing out on a technicality.
(This post was last modified: 04-24-2014 06:39 PM by shanked.)
04-24-2014 06:19 PM
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JayJuanGee Offline
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Post: #1672
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-24-2014 06:19 PM)shanked Wrote:  So this is what happened. I invested all my bitcoin into maidsafe through coinspot.com.au but found out the investment needed to be done through a wallet where you had control over your private key. Anyone who was in the same position as me should have got a refund. At the time they were sending the refund there was apparently 600coins left and as it was 1am I was too tired to stay awake for the coins to come back and thinking there would be time to rebuy into it when I woke up.

I checked my btc wallet this morning and the coins are back in but sadly.. the crowd sale has ended. Really fucking sad now that I missed out.

Sorry about that, but surely, it could have been worse if there had been NO method to refund you your bitcoins and you did NOT have any access to your private keys. That would have been a pretty bad scenario.

As long as you keep looking out, there should be additional opportunities for this or some other investment(s). I am sure.
04-24-2014 06:39 PM
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shanked Offline
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Post: #1673
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
Yep I bought in anyway. Anyone who is interested you can buy maidsafe on masterxchange.com
04-24-2014 07:48 PM
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JayJuanGee Offline
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Post: #1674
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
(04-24-2014 07:48 PM)shanked Wrote:  Yep I bought in anyway. Anyone who is interested you can buy maidsafe on masterxchange.com


So is everything cleared up with your purchase now, and your access to the Maidsafe coins that you bought?

Also, was the price per coin the same in your second purchase attempt, or did the price change over the last few days between your first attempt and your second attempt?
04-24-2014 08:55 PM
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shanked Offline
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Post: #1675
RE: The Bitcoin thread (formerly "Bitcoins up 60% in less than a month")
I have access to them but I subsequently lost 40% bonus given to early buyers plus a 3x price rise its at around .0001 btc now. It works out that I lost about 120%+ (estimate) of potential profit in the 18hrs or so since the exchange opened.

Even though I lost this double of my investment, i dont plan on speculating on swings in this coin and probably wont sell it for a very long time. So in the big picture it doesnt hurt too much that I fucked up.

My plan is if the price is ever 10x what I paid I will sell 10% of my investment to recover it tjen hold onto the rest until it either goes bust or makes me rich
(This post was last modified: 04-25-2014 05:14 AM by shanked.)
04-25-2014 05:13 AM
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