Post: #1376

See Jay, I told you moon. I sold and bought back in already

Post: #1377

(03-03-2014 01:40 PM)jamaicabound Wrote:  I cannot understand why anyone would leave hundreds of thousands of dollars sitting in a third party website they dont control and don't know the owners of.

Because they think it's like real money with real banks and shit.

Post: #1378

Those who left their money on magic the gathering exchange, either knew there were FREQUENT WARNINGS ABOUT MT.GOX YEARS BACK but were too lazy to move their money to real wallets, or did not know what the hell they were doing.

bs $688.00 b-e $664.79 kraken €483.47

Post: #1379

(03-03-2014 01:57 PM)strengthstudent Wrote:  Those who left their money on magic the gathering exchange, either knew there were FREQUENT WARNINGS ABOUT MT.GOX YEARS BACK but were too lazy to move their money to real wallets, or did not know what the hell they were doing.

bs $688.00 b-e $664.79 kraken €483.47

yeah when i first got into bitcoin i was kinda overwhelmed with how the paper wallets worked and afraid i woudl send coins to the wrong address. i started out slow bought a small amount on coinbase and bitlocal or localbitcoin or whatever it is. i sent a small amount receieved it and sent it back to make sure i understood what i was doing and then was comfortable. from there i bought larger amounts and never store anything on third party websites. with the up and comming coins you have to be careful of downloading the wallets as some have spyware and stuff but with those i generally just throw 50 or 100 at them so i dont really mind them sitting on an exchange if i dont trust that coins paper wallet.

Post: #1380

(03-03-2014 01:40 PM)jamaicabound Wrote:  

(03-03-2014 01:16 AM)pants Wrote:  Anyone got burned on Gox?

Could have been a very cheap lesson for people holding on BTC-e

http://www.reddit.com/r/Bitcoin/comments...o_bitcoin/

There's reallly no reason for anyone to have gotten burned if people followed Bitcoin 101 protocol and kept coins in a paper wallet on their computer and not with an exchange.

I buy Bitcoins and trade them for other upand comming cryptos. There's no reason to leave your coins on an exchange for more than maybe 30 minutes max, coudl you get burned in that 30 min sure you could but very unlikely. I buy coins and immediately move them to a paper wallet or if I'm swapping BTC for LTE or something like that I'll send my coins to exchange trade for LTE and then send LTE to a wallet.

I cannot understand why anyone would leave hundreds of thousands of dollars sitting in a third party website they dont control and don't know the owners of.

I can think of a few reasons... one is convenience. Another is lack of experience. Another is fear of losing them or losing the key. Bitcoin is NOT exactly user-friendly, yet.

By the way, how do you like that more than a $100 price jump in less than 24 hours?

El mech, did you sell at $687 on BTC e? and you could have bought again at $633, 30 minutes later.... Who knows how far to go up and down..?

By the way, I think that the conditions are good for going to baby moon territory.. and that is between $750 and $850... and maybe stay in that area for a month or so before going to the $1500 territory... absent some new major negative news coming out.

Post: #1381

(03-03-2014 01:41 PM)el mechanico Wrote:  See Jay, I told you moon. I sold and bought back in already

Regarding the moon... you made that comment around three weeks ago... while we knew about troubles with GOX (magic), including the withdrawal problem. Thereafter, we definitely had some less than moon times, in the interim...

Those active and knowledgeable about bitcoin, in this thread, have all been predicting the moon-ish territory... to be coming soon.. feasibly within this year...



BTW... it got up to $714 on Coinbase... and with these extremely volatile prices (today), there is a lot of potential to make and lose lots of money... .. quite a bit of volatility, today.. but the volume is NOT extremely high.. There seems to still be some investors waiting in fiat on the sidelines.

Post: #1382

(03-03-2014 12:07 PM)friheten Wrote:  

(03-03-2014 01:16 AM)pants Wrote:  Anyone got burned on Gox?

Could have been a very cheap lesson for people holding on BTC-e

http://www.reddit.com/r/Bitcoin/comments...o_bitcoin/

No.. But my friend got $1.5k randomly in his bank account from a(n?) Swedish exchange. Without reason. That exchange also had problem since they went overloaded and it was a one man business.

Should have bought Auroracoin when I wrote about it here a few days ago, then it was 0.04 and now 0.09

Yeah.. Friheten.. thanks for the heads up on that.... we should have seen a price increases coming - especially their govt backing and also a fairly extensive plan for distribution. It still may be early days for Auroracoin.. in terms of price appreciation...

Post: #1383

Hey guys, I was just catching up on the latest Apple news and saw this article about some malware targeting Bitcoin Wallets.

http://www.macrumors.com/2014/02/27/bitc...gry-birds/

Apologies if this old news and has already been posted here.

Post: #1384

(03-03-2014 03:32 PM)JayJuanGee Wrote:  

(03-03-2014 12:07 PM)friheten Wrote:  

(03-03-2014 01:16 AM)pants Wrote:  Anyone got burned on Gox?

Could have been a very cheap lesson for people holding on BTC-e

http://www.reddit.com/r/Bitcoin/comments...o_bitcoin/

No.. But my friend got $1.5k randomly in his bank account from a(n?) Swedish exchange. Without reason. That exchange also had problem since they went overloaded and it was a one man business.

Should have bought Auroracoin when I wrote about it here a few days ago, then it was 0.04 and now 0.09

Yeah.. Friheten.. thanks for the heads up on that.... we should have seen a price increases coming - especially their govt backing and also a fairly extensive plan for distribution. It still may be early days for Auroracoin.. in terms of price appreciation...

Auroracoin's prices is terribly inflated right now IMO and is going to drop severely as soon as the millions of coins are released on the 25th. There is no government backing and in reality the plan for distribution is VERY obscure right now.

I have no trust longterm in pre-mined coins. You are trusting someone sitting on millions of dollars to just give them coins away on the 25th ? I know I'm not

Post: #1385

Digital gold cascades from my square bladder.

Post: #1386

(03-03-2014 03:51 PM)brg444 Wrote:  

(03-03-2014 03:32 PM)JayJuanGee Wrote:  

(03-03-2014 12:07 PM)friheten Wrote:  

(03-03-2014 01:16 AM)pants Wrote:  Anyone got burned on Gox?

Could have been a very cheap lesson for people holding on BTC-e

http://www.reddit.com/r/Bitcoin/comments...o_bitcoin/

No.. But my friend got $1.5k randomly in his bank account from a(n?) Swedish exchange. Without reason. That exchange also had problem since they went overloaded and it was a one man business.

Should have bought Auroracoin when I wrote about it here a few days ago, then it was 0.04 and now 0.09

Yeah.. Friheten.. thanks for the heads up on that.... we should have seen a price increases coming - especially their govt backing and also a fairly extensive plan for distribution. It still may be early days for Auroracoin.. in terms of price appreciation...

Auroracoin's prices is terribly inflated right now IMO and is going to drop severely as soon as the millions of coins are released on the 25th. There is no government backing and in reality the plan for distribution is VERY obscure right now.

I have no trust longterm in pre-mined coins. You are trusting someone sitting on millions of dollars to just give them coins away on the 25th ? I know I'm not

Thanks BRG444:
Definitely, those are important facts that support the idea that Auroracoin is currently overvalued. Thanks for those clarifications.

Certainly, I have NOT researched into the details, and I was NOT planning on investing in Auroracoin.

Post: #1387

(03-03-2014 02:56 PM)JayJuanGee Wrote:  

(03-03-2014 01:40 PM)jamaicabound Wrote:  

(03-03-2014 01:16 AM)pants Wrote:  Anyone got burned on Gox?

Could have been a very cheap lesson for people holding on BTC-e

http://www.reddit.com/r/Bitcoin/comments...o_bitcoin/

There's reallly no reason for anyone to have gotten burned if people followed Bitcoin 101 protocol and kept coins in a paper wallet on their computer and not with an exchange.

I buy Bitcoins and trade them for other upand comming cryptos. There's no reason to leave your coins on an exchange for more than maybe 30 minutes max, coudl you get burned in that 30 min sure you could but very unlikely. I buy coins and immediately move them to a paper wallet or if I'm swapping BTC for LTE or something like that I'll send my coins to exchange trade for LTE and then send LTE to a wallet.

I cannot understand why anyone would leave hundreds of thousands of dollars sitting in a third party website they dont control and don't know the owners of.

I can think of a few reasons... one is convenience. Another is lack of experience. Another is fear of losing them or losing the key. Bitcoin is NOT exactly user-friendly, yet.

By the way, how do you like that more than a $100 price jump in less than 24 hours?

El mech, did you sell at $687 on BTC e? and you could have bought again at $633, 30 minutes later.... Who knows how far to go up and down..?

By the way, I think that the conditions are good for going to baby moon territory.. and that is between $750 and $850... and maybe stay in that area for a month or so before going to the $1500 territory... absent some new major negative news coming out.

I always find it funny that the news that always crashes Bitcoin never really has anything to do with Bitcoin itself as far as flaws in the coding or security, it all has to do with exchanges or illegal drug marketplaces online but the media always reports on it as if the problem is with Bitcoin. Thats like saying if I was using Scottrade and they wiped out my balance saying the stock market is flawed, the stock market isn't flawed Scottrade is a poorly run company, I like Scottrade I'm just giving a hypothetical scenario for comparison sake.

Post: #1388

What are the best exchanges for buying a bitcoin at or near market price as determined by bitcoinaverage.com ?

Also which ones support bank to transfers for buying and selling in UK pounds sterling?

Post: #1389

(03-03-2014 05:45 PM)JJ Roberts Wrote:  What are the best exchanges for buying a bitcoin at or near market price as determined by bitcoinaverage.com ?

Also which ones support bank to transfers for buying and selling in UK pounds sterling?

I'm not sure about UK and have been a bit out of the loop as well as hesitant to trust new companies but I've used Coinbase in the past they allow bank to BTC transfers relatively reasonable rates though better can be found, I don't store my coins there but I do feel they are a trustworthy site. You can always buy from other locals in your city either through Craiglist or localbitcoin. Thats probably the safest way as well as cheapest spreads

As far as using BTC to buy other up and comming coins I really like CryptoRush.In

Post: #1390

(03-03-2014 03:51 PM)brg444 Wrote:  

(03-03-2014 03:32 PM)JayJuanGee Wrote:  

(03-03-2014 12:07 PM)friheten Wrote:  

(03-03-2014 01:16 AM)pants Wrote:  Anyone got burned on Gox?

Could have been a very cheap lesson for people holding on BTC-e

http://www.reddit.com/r/Bitcoin/comments...o_bitcoin/

No.. But my friend got $1.5k randomly in his bank account from a(n?) Swedish exchange. Without reason. That exchange also had problem since they went overloaded and it was a one man business.

Should have bought Auroracoin when I wrote about it here a few days ago, then it was 0.04 and now 0.09

Yeah.. Friheten.. thanks for the heads up on that.... we should have seen a price increases coming - especially their govt backing and also a fairly extensive plan for distribution. It still may be early days for Auroracoin.. in terms of price appreciation...

Auroracoin's prices is terribly inflated right now IMO and is going to drop severely as soon as the millions of coins are released on the 25th. There is no government backing and in reality the plan for distribution is VERY obscure right now.

I have no trust longterm in pre-mined coins. You are trusting someone sitting on millions of dollars to just give them coins away on the 25th ? I know I'm not

Yeah you are right brg444, however when the price was 0.04 they were only listed on one change and only been on coinmarketcap for a few days. As JJG says we should have seen the price increase coming bought and then sold at this price. Longtime I wouldn't hold them, for the same reason I wrote in a previous post. When all those premined coins goes in the hands of the Icelandic people the price might probably go down since I guess it's more Icelandinc people who would sell them for some quick cash then to putt in their fiat savings, however that might not be true..

(03-03-2014 05:45 PM)JJ Roberts Wrote:  What are the best exchanges for buying a bitcoin at or near market price as determined by bitcoinaverage.com ?

Also which ones support bank to transfers for buying and selling in UK pounds sterling?

Try kraken, it's in Euros but the bank they take deposits to is in London. They are good been using them myself.

Post: #1391

Kraken would involve me converting my sterling to euro then converting euro to bitcoin and then doing the reverse just to get money out so its a no-go.

Bought my first ever bitcoin yesterday using bittylicious. Took about 16 hours to get to me but it worked. Price was not that great so I think I will keep shopping around for merchants and buy small amounts of bitcoins from a few places. Am waiting for my bitstamp account to get verified so I can try that out.

Anyway, I am up and running at least. Bought my first ever bitcoin yesterday and, as of about 10 mins ago, I have it safely stored in secure wallet on my computer so it's a start at least.

Post: #1392

(03-03-2014 06:27 PM)jamaicabound Wrote:  I really like CryptoRush.In

Why do you like them?

Post: #1393

(03-04-2014 02:35 PM)JJ Roberts Wrote:  Kraken would involve me converting my sterling to euro then converting euro to bitcoin and then doing the reverse just to get money out so its a no-go.

Bought my first ever bitcoin yesterday using bittylicious. Took about 16 hours to get to me but it worked. Price was not that great so I think I will keep shopping around for merchants and buy small amounts of bitcoins from a few places. Am waiting for my bitstamp account to get verified so I can try that out.

Anyway, I am up and running at least. Bought my first ever bitcoin yesterday and, as of about 10 mins ago, I have it safely stored in secure wallet on my computer so it's a start at least.

Congratulations on getting started.

No matter what you find for obtaining additional BTC, you may want to consider the buy rate and the sell rate of that service. Here in the USA, a lot of people use Coinbase to go from fiat to BTC.

Even though Coinbase has a higher BTC purchase price than some other services or exchanges, there is NOT much of a difference between its buy price and its sell price. Accordingly, the main concern is the 1% transaction fee on each end. Thus, a guy has to turn at least a 2% profit, just to break even.

Since that 1% transaction fee is the only fee (except an additional 15 cents base fee), there remains a fairly sizeable incentive to time BTC purchases to the market and to make multiple small BTC purchases in order to hope to achieve the best price or the best average price.

In that regard, recall that since you already have your feet wet in the BTC pool, you do NOT need to worry about whether you are buying full BTC coins in each shot versus some fragment of a coin as small an increment as you want... maybe .001BTC. IN that regard, you can time your purchases to your convenience and to your budget. I personally, do NOT like to buy less than .05BTC at a time, but that is given the current price, and the main obstacle for me is that the smaller the increment, the more that the 15 cent base fee might add into a percentage of the purchase... for example, buying $1 of BTC would be a 15% additional fee, but buying $50 would ONLY be an additional .3%, and buying at least $100 would be a .15% additional fee.

On the other hand, if you find some service that charges a larger base fee amount or a has minimum transaction amounts, then you may have differing incentives concerning how to structure your getting the most BTC for your sterling.

Post: #1394

PS Shouldn't the title of this thread be "Official Bitcoin Thread" or something like that?

The event in the title of this thread happened a year ago.

Post: #1395

(03-04-2014 04:56 PM)JJ Roberts Wrote:  PS Shouldn't the title of this thread be "Official Bitcoin Thread" or something like that?

The event in the title of this thread happened a year ago.

No, I like it the way it is. I've been wondering how many pages this thread can get to until RVF members start clue-ing in on masse that the speculative "bubble" that got proposed as a risky get-rich quick option has been generating conversation among their peers consistently month after month...

Improve yourself, improve the world.
Datasheets: Chinese Dating. Bitcoin and trading on BTC-E.

Post: #1396

The booze Rooster has instructed me to cash some out and buy 1970's Japanese motorcycles on ebay.

Post: #1397

(03-04-2014 06:52 PM)el mechanico Wrote:  The booze Rooster has instructed me to cash some out and buy 1970's Japanese motorcycles on ebay.

Surely, 1970's Japanese motorcycles would be tangible.... more tangible than some ones and zeros on the internet (otherwise called bitcoin).


Tell the booze rooster to go fuck himself.

Post: #1398

Post: #1399

[attachment=17410]

This one in brand new condition no matter how much it costs.

Post: #1400

(02-28-2014 10:27 PM)friheten Wrote:  

(02-28-2014 08:11 PM)Vacancier Permanent Wrote:  So now that this Bitcoin fad is over, how much have you guys lost in all this fiasco? I was tempted at one point to get in on the action, but my gut feeling me told me this wouldn't last as it was just a fad. Sad to see it materializing.

Everyone who got in before middle of Novermber is +.

I understand that several times through this thread, especially during down trends in the BTC prices, guys have tended to chime into the thread and ask how much guys have lost in bitcoin. Surely, the downtrends are opportunities to point fingers, yet luckily they do NOT seem to last for too long. Nonetheless, NO one would want to cash out of bitcoin and lock in the losses – unless he were in a situation of absolutely necisity (some emergency).
Even though I began to buy BTC at $1,200 in November 2013, currently, my BTC average buy in price (including administrative fees) is a little bit under $700 per BTC. I could have had a lower average btc buy in price, but I did NOT load up when prices were lower, and I made a few screw ups with trades.

In the last couple of days, I could have cashed out for anywhere between 20% in the red or 2.5% in the black. Nonetheless, as I have stated, absent some clear indication of bitcoin disaster, I am in BTC for the long run of at least a couple of years.

When BTC prices went into the $700s yesterday, guys in BTC forums were complaining that they did NOT buy earlier in the $500s. I remain of the impression that BTC under $1,000 are a bargain – though I am only going to buy so many coins at a one time because I prefer to hedge for the possibility that coins under $1,000 are NOT a bargain.

By the way, I understand yesterdays upsurge in the BTC market to be partly attributable to Blockchains announcement on Bloomberg, which was anticipated to be good for bitcoin. When that announcement turned out to be lackluster and merely concerning blockchain’s new involvement in exchanges, BTC prices dropped.



El Mech: my neighbor had a moto kind of like that one.. when I was growing up in the 70s... ... it was that color of green, too. I thought that it was like 100ccs.. I cannot recall exactly.