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The Bitcoin (BTC) thread
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cafedelmar Offline
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Post: #251
RE: Bitcoins up 60% in less than a month




This one's for those who got involved in MT.Gox hoax. We could've had it all Wink
05-05-2013 12:30 AM
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el mechanico
el mechanico Offline
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Post: #252
RE: Bitcoins up 60% in less than a month
This is why they're going up today..
http://techcrunch.com/2013/05/09/your-bi...something/
05-10-2013 09:24 AM
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Hotwheels Offline
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Post: #253
RE: Bitcoins up 60% in less than a month
I'm thinking about getting in this shit....

Any tips for security? I'd be using my laptop and accessing net through my android.

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(This post was last modified: 05-10-2013 10:15 AM by Hotwheels.)
05-10-2013 10:12 AM
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Hotwheels Offline
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Post: #254
RE: Bitcoins up 60% in less than a month
Figuring out how to get money into this shit is a pain in the fucking ass.

How the fuck can guys get large sums into this? They certainly don't go to CVS with 50 grand in a bag....

*Just to be clear, I am not putting 50 large in.

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05-10-2013 01:12 PM
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el mechanico Offline
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Post: #255
RE: Bitcoins up 60% in less than a month
(05-10-2013 01:12 PM)Hotwheels Wrote:  Figuring out how to get money into this shit is a pain in the fucking ass.

How the fuck can guys get large sums into this? They certainly don't go to CVS with 50 grand in a bag....

*Just to be clear, I am not putting 50 large in.
Pain in ass! call me
05-10-2013 01:13 PM
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el mechanico Offline
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Post: #256
RE: Bitcoins up 60% in less than a month
Mt. Gox shut down by feds today? My litecoin fortune!!!!!!!!!!!
05-15-2013 02:10 PM
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Hotwheels Offline
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Post: #257
RE: Bitcoins up 60% in less than a month
Glad I spent the cash I was gonna throw in there on a Tag....

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05-15-2013 02:25 PM
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Pete Offline
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Post: #258
RE: Bitcoins up 60% in less than a month
(05-15-2013 02:10 PM)el mechanico Wrote:  Mt. Gox shut down by feds today? My litecoin fortune!!!!!!!!!!!
Not MtGox per se. They froze their Dwolla account. I wonder how can we get our money off of MtGox?
05-15-2013 07:59 PM
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pants Offline
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Post: #259
RE: Bitcoins up 60% in less than a month
buy bitcoins there and sell them somewhere else?
05-15-2013 08:33 PM
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Vice Offline
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Post: #260
RE: Bitcoins up 60% in less than a month
http://techcrunch.com/2013/05/16/mt-gox-...y-seizure/

Quote:Mt. Gox users can’t use Dwolla as a funding option anymore even though it was one of the most popular options.
05-16-2013 09:45 PM
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yolo Offline
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Post: #261
RE: Bitcoins up 60% in less than a month
From my experience, befriend a Bitcoin miner. He'll sell you bitcoin in bulk, and give you a nice bulk discount. Fuck the middlemen, get coins direct. From there, you can sell them on CoinBase (if in US) or locally (via localbitcoins.com) and lock in an instant return. But, be careful not to withdraw too much $$$ or you may get flagged for suspicious activity. Know your limits.

Also, another reason why is because usually they have a shit ton of coins to throw around. After befriending the guy over a couple months, he rented my condo out and knowingly paid 30% over market rate. Can't reveal numbers, but between $30k-$50k worth in BTC, 12 months rent up front. 30% above market + time value of money over 12 months - yeah, I got pretty lucky. You may think I ripped him off, but I didn't. It's a win-win. He needs a place to live, but no one will take his bitcoin. I was one of the few that did. Supply/Demand, and then there's exchange-rate risk.

Regarding Mt. Gox, stay the fuck away from them. US seized over $5 mil from them, and no way you'll be able to withdraw cash for awhile. If you got cash at Mt. Gox, best bet is, buy Bitcoin, and withdraw, and do it soon, as they are already putting halts on some Bitcoin withdrawals.

Last takeaway, I hope that in our lifetime, monetary policy decisions made by a few individuals will be replaced by heavily-researched and mathematically-proven algorithms. Honestly, I'd rather let robots/computers run the monetary system in an unbiased manner, where everybody has to follow the rules, instead of pretending that human beings can do so without a hidden agenda. I think and hope Bitcoin is a step in that direction.
09-04-2013 10:24 PM
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Pyre Offline
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Post: #262
RE: Bitcoins up 60% in less than a month
Has anyone use localbitcoins to buy/sell bitcoins? This seems to be the only available options?

I don't have local merchants so will have to use a Wells Fargo direct deposit or so...anyone use this method?
09-09-2013 05:23 PM
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chyamor Offline
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Post: #263
RE: Bitcoins up 60% in less than a month
I use coinbase. based in SF
09-09-2013 09:12 PM
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Pyre Offline
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Post: #264
RE: Bitcoins up 60% in less than a month
(09-09-2013 09:12 PM)chyamor Wrote:  I use coinbase. based in SF

I was checking out their website before but can you use it to fund an account to buy bitcoins like Mt Gox /Bitinstant formerly? It doesn't appear so.
09-09-2013 09:39 PM
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chyamor Offline
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Post: #265
RE: Bitcoins up 60% in less than a month
yes. I used my debit card to purchase on there
(This post was last modified: 09-09-2013 09:47 PM by chyamor.)
09-09-2013 09:47 PM
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yolo Offline
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Post: #266
RE: Bitcoins up 60% in less than a month
I use CoinBase and LocalBitcoins. But I only use the latter for in person meet ups. In Chicago, we have a couple merchants. Never done LocalBitcoins with bank deposits, seems more shady but it seems like people have done it. Maybe try small amounts first.
09-10-2013 08:11 AM
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chyamor Offline
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Post: #267
RE: Bitcoins up 60% in less than a month
any word on tormail/tor ? I just started learning about it and next thing I know FBI takes it down
09-10-2013 08:32 AM
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yolo Offline
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Post: #268
RE: Bitcoins up 60% in less than a month
Tormail was supposed to be private/anonymous email. But, I hear a lot of tormail users' data had been compromised by the Feds. Tor is not tormail, it's just a way to hide your identity when streaming the web by using another random person's computer to stream the web for you and then relay it back to your computer. Tor is still up and running from what I understand.
09-10-2013 08:39 AM
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el mechanico Offline
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Post: #269
RE: Bitcoins up 60% in less than a month
How are your LTC doing? I am and was all in BTC have you looked lately?
10-21-2013 09:34 AM
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The Great Basilisk Offline
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Post: #270
RE: Bitcoins up 60% in less than a month
My friend recently bought an additional GPU from china for his farm and he said it's gonna pay itself back in about 1 month. I'm not sure if i believe him though, sounds too good to be true IMO...
10-21-2013 11:30 AM
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DLZ Offline
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Post: #271
RE: Bitcoins up 60% in less than a month
(10-21-2013 11:30 AM)The Great Basilisk Wrote:  My friend recently bought an additional GPU from china for his farm and he said it's gonna pay itself back in about 1 month. I'm not sure if i believe him though, sounds too good to be true IMO...

He's bullshitting. GPU mining is all but dead for anything except the most obscure cryptocurrencies. I typed up a decent-length reply showing some math behind why it's bullshit but naturally, I closed a window and lost it. Basically, go to dustcoin.com and crunch some numbers. A $260 graphics card (MSI 7950) will get about ~700 kH/s doing scrypt, and that's only if it's overclocked and properly cooled. That's about $1USD/day profit, and that's at current market prices and mining difficulty. That's a nice ROI, but not exactly going to make you rich unless you scale up massively. It's also only going to get harder and less profitable.

Unless he's referring to an ASIC rig, in which case he's either very lucky or he might just be parroting what the marketing material told him.

unrelated: there's tons of silkroad copycats already, lol
(This post was last modified: 10-21-2013 12:26 PM by DLZ.)
10-21-2013 12:25 PM
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GameTheory Offline
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Post: #272
RE: Bitcoins up 60% in less than a month
Bitcoin surges after Silk Road's demise

http://www.theguardian.com/technology/20...crash-high
10-21-2013 04:48 PM
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pants Offline
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Post: #273
RE: Bitcoins up 60% in less than a month
Hope we just stay at 200 for several months, fast up = fast down.
10-21-2013 05:53 PM
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chyamor Offline
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Post: #274
RE: Bitcoins up 60% in less than a month
did the fbi seize silk road guys bit coins?
10-21-2013 06:04 PM
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el mechanico Offline
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Post: #275
RE: Bitcoins up 60% in less than a month
(10-21-2013 06:04 PM)chyamor Wrote:  did the fbi seize silk road guys bit coins?
I think so..

The guys in the BTC-e troll box said I have no business knowing what bitcoins are nor should i be investing
10-22-2013 10:49 AM
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