Silk Road forums
Discussion => Silk Road discussion => Topic started by: aussiepp on April 01, 2013, 04:58 am
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Do you guys think the price of BTC's will increase or decrease? And when?
I want to buy some more BTC's but something about spending $200 and getting only 2 BTC's seems wrong haha.
Any predictions of what will happen to the value of BTC's?
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I believe it's well on it's way to at least USD$120 very soon...
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I believe it's well on it's way to at least USD$120 very soon...
Oh wow.. maybe I should buy some BTC's this week lol
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When I remind myself, that last June or sth 1 BTC was like £7.5, I am crying like a baby.
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Just saw a post from myself wondering if i should buy more, or wait, as i thought it was expensive at $50 :(
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I want to buy some more BTC's but something about spending $200 and getting only 2 BTC's seems wrong haha.
Yeah, but a gram of MDMA is 0.7 BTC. Doesn't sound so bad that way.
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I can't believe it cracked over $100.
My biggest fear is a quick crash before I get a chance to spend it. I move my money at lighting speed to prevent the chance.
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I believe it's well on it's way to at least USD$120 very soon...
^this
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Quick crash is my fear right now as well, buying 1BTC now for $100 and by the time I get the coin it's worth a lot less. Normally it does take at least a day to get coins for me and lately it seems anything could happen in a day.
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it will hold ay this levels as btc market is small and there are atleast a few billion out f tens of billions kept in Cyprus by Russians who were using it as offshore bank dstination to avoid taxes
this is thumping win for bitcoins as markets have gicen judgement in favour of it
gocernments seizing bank accounts is unheard of in my lifetime.....irrartional behaviour causing rational jump in btc prices
as more governments learn from cyprus to fund their ponzi scheme.....bitcoin will rise as its inverse bet on all craziness
i am sure bitcoins are next best thing to gold....as more merchants start using btc banks should look into integrating btc in their systems
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as i mentioned in another thread: some experts say the goal is not 1000 or 10.000. it is 100.000 - 1.000.000$ within the next 10 years when it covers 10% of payments in the whole world. i cant wait for that to happen :D
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Is the inventor rich now?
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would have made tens of millions if not hundrerds
Santoshi and his cronies would have kept a nice chunck of seed bitcoins with them.....question is which price they wanna get out
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read on on: reddit.com/r/Bitcoin that there are over 4000 people waiting to get verified on mtgox.com.
One can assume there waiting to buy
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as long as people keep using BTCs, the only way is up; its not just a boom market, if you keep making it harder and more expensive to print a currency (mining), you end up with negative inflation ;) i just wish vendors would stop pricing for a crash, its already hard enough to part with my BTCs :/ oh well, might end up giving up the drugs if things continue this way lol
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$125
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I can't believe it cracked over $100.
My biggest fear is a quick crash before I get a chance to spend it. I move my money at lighting speed to prevent the chance.
That's the spirit, just keep your assets liquid, only buy as many BTC's as you need. I have some invested in the BTC stock market but if there is a crash I only bought them when they were worth USD 10 each so no harm done. :)
The real danger of course is a "run" on the exchanges in that even a small dip in value could be perceived as the start of a trend with everyone selling their coins en masse which could trigger a huge crash. Still for those people who kept the faith after the last crash and hoarded their coins, time has been kind, so if this happens to you, suggest you salt them away somewhere.
V.
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time will tell
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The one thing that worries me is the US gov. I truly believe once they see BTC as a real threat to gov issued currency, game over.
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how can us gov pull the plug if the people still accept btc as a valid currency? by making it illegal? lol
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how can us gov pull the plug if the people still accept btc as a valid currency? by making it illegal? lol
So if they make it illegal, there goes MtGox, or does it? MtGox is in Japan so they will still be able to exchange and there's nothing illegal about a legal currency trader sending wires to US bank accounts, right?
Also I have heard that people trade illegal things in person and on certain hidden websites.
Modzi
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If you have money in www.instawallet.org - and are able to get into it, you may want to consider pulling you dough right now! We have been unable to access it for 2 days! Never could on tor because we have everything traceable, cookies, script, java - disabled. But you could send coins and take them out by simply using your instawallet number and SR numbers.
The last explorer search before logging on an few minutes ago said that instawallet.org users over - 1.7 million users at last count - have all lost their bitcoins!
bummer
http://dkn255hz262ypmii.onion/index.php?topic=142313.0
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Cant seem to get on mtgox either, keep getting a database error...
Really dont like not being able to trade my coins in this volatile market.
In my country, BTC were on the news a few days ago with some financial expert claiming them to be a good investment at the moment. Im guessing it was on the news in other countries also, they all get their info from reuters etc.
Might explain this latest boom..?
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how can us gov pull the plug if the people still accept btc as a valid currency? by making it illegal? lol
So if they make it illegal, there goes MtGox, or does it? MtGox is in Japan so they will still be able to exchange and there's nothing illegal about a legal currency trader sending wires to US bank accounts, right?
Also I have heard that people trade illegal things in person and on certain hidden websites.
Modzi
I talking about BTC as an investment option and a dependable currency accepted by many, not a black market currency.
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how can us gov pull the plug if the people still accept btc as a valid currency? by making it illegal? lol
So if they make it illegal, there goes MtGox, or does it? MtGox is in Japan so they will still be able to exchange and there's nothing illegal about a legal currency trader sending wires to US bank accounts, right?
Also I have heard that people trade illegal things in person and on certain hidden websites.
Modzi
I talking about BTC as an investment option and a dependable currency accepted by many, not a black market currency.
We are talking about the fiat currencies which are "owned" by countries defending their value and tax revenue by outlawing cryptocurrencies.
This will likely happen so have a battle plan to trade and exchange your coins after the coming crypto-wars.
Modzi
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It will hit $1,500 in the next 6 months, my advice is BUY BUY BUY!
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this article in New Yorker explains the recent rise in btc
The Bitcoin Boom
On March 16th, the Cypriot President Nicos Anastasiades, who’d been in office for about a month, announced a strategy to solve the country’s banking crisis. This plan, which would be funded in part by confiscating money directly from every single bank account in Cyprus—even the very smallest—met with instantaneous and violent opposition from the country’s citizens. Offstage, the European Union, led by a group of adamant Germans, Finns, and Danes, as well as the I.M.F. and the European Central Bank, pointed a cannon at Anastasiades’s head: if he didn’t move forward with this plan, the Cyprus banks would go bust and their hapless customers would lose pretty much all their money, instead of a measly 6.75 per cent. However, under great pressure from their constituents, Cypriot M.P.s rejected the proposal and sent Anastasiades back to the drawing board.
The following Monday, the price of the decentralized electronic currency bitcoin rose from forty-five to fifty-five dollars on the major exchanges, and by Wednesday it had nipped up to sixty-five dollars. The financial media generally agreed that the two dramas are related. According to Bloomberg Businessweek, it appears that Spaniards are liable to have been particularly active buyers of bitcoins that week, having taken the debacle in Cyprus as the likely sign of a forthcoming governmental plunder of their own savings. The evidence coming out of Spain is circumstantial—a spike in Google searches for “bitcoin,” and another on mobile-app downloads of Bitcoin-related software were widely reported—but the pieces appear to fit. Subsequent developments (including the announcement of an eleventh-hour bailout deal for Cyprus) have so far failed to stabilize the euro or cool the bitcoin fever, with the price over a hundred and three at the time of writing.
That a number of panicked Europeans appear to have reckoned the wildly volatile, vulnerable, and tiny bitcoin market a preferable alternative to their own banking system, even temporarily, signals a serious widening of the cracks between the northern and southern E.U. countries in the wake of the euro-zone debt crisis. It also illustrates the broader collapse of trust that is threatening the world of global banking and fiat money.
The weakness in existing currencies stems from lack of faith in institutions—particularly central banks, which are often in league with commercial and investment banks. When a government bails out a failed bank or insurance company—in essence, by printing money—the net effect is that the currency as a whole is debased, in favor of a few and at the literal expense of everyone else, which amounts to a fair description of today’s global financial system. Hence the sudden appeal of bitcoins, which appear, for the moment, at least, to be immune to the machinations of inept or crooked bankers and politicians.
* * *
In many ways, bitcoins function essentially like any other currency, and are accepted as payment by a growing number of merchants, both online and in the real world. But they are generated at a predetermined rate by an open-source computer program, which was set in motion in January of 2009. This program produced each one of the nearly eleven million bitcoins in circulation (with a total value just over a billion dollars at the current rate of exchange), and it runs on a massive peer-to-peer network of some twenty thousand independent nodes, which are generally very powerful (and expensive) G.P.U. or ASIC computer systems optimized to compete for new bitcoins. (Standards vary, but there seems to be a consensus forming around Bitcoin, capitalized, for the system, the software, and the network it runs on, and bitcoin, lowercase, for the currency itself.)
Bitcoin releases a twenty-five-coin reward to the first node in the network that succeeds in solving a difficult mathematical problem requiring a certain amount of brute-force computation (known as a proof-of-work calculation.) The solution is then broadcast throughout the network, and competition for a new block and its twenty-five-coin reward begins. (There’s a good rundown of the technical aspects of Bitcoin on the Bitcoin wiki; there’s also a wonderfully pellucid explanation of the proof-of-work angle from Paul Bohm, on Quora.)
At first, anyone armed with an ordinary computer could download and run the Bitcoin software and gather (or “mine”) bitcoins. The more computing power you can dedicate to Bitcoin calculations, though, the better your chances of arriving first at each solution. This feature of the system, by design, resulted in a kind of computational arms race that strengthened the network by rewarding increased computing power. Four years into the Bitcoin project, only very powerful, purpose-built machines have enough muscle to keep pace with existing network nodes.
In this way, bitcoins are mined like gold used to be, in quantities that are small relative to the total supply, so that the supply grows slowly. There is an upper limit of twenty-one million new coins built into the software; the last one is projected to be mined in 2140. After that, it is presumed that there will be enough traffic to keep rewards flowing in the form of transaction fees rather than mining new coins. For now, the bitcoins are initially issued to the miners, but are distributed when miners buy things with them or sell them to non-miners (such as jumpy Spanish bank depositors) who desire an alternative currency. The chain of ownership of every bitcoin in circulation is verified and registered with a timestamp on all twenty thousand network nodes. This prevents double spending, since no coin can be exchanged without the authentication of some twenty thousand independent cyber-witnesses. In order to hack the network, you would have to deceive over half of these computers at the same time, a progressively more difficult task and, even today, a very formidable one.
In 2008, Satoshi Nakamoto, the founder of Bitcoin, whose real identity is not known, cleverly combined existing peer-to-peer network technologies, cryptographic techniques, digital signatures, and the potential power of network effects to design and develop the Bitcoin system. Nakamoto was very clearly motivated in this effort by the fallout from the 2008 financial crisis. When the experiment was launched and the first fifty bitcoins (the so-called genesis block) were mined, in January of 2009, he (or she, or they) included this line of text along with the data: “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”
Until his disappearance from the Web, around the spring of 2012, Nakamoto was a visible participant on cryptography forums, where he discussed Bitcoin freely, and published a nine-page paper outlining the details of the project. These posts reveal that even in 2008, Nakamoto was able to respond to concerns regarding the scalability of bitcoin with remarkable prescience; he clearly understood the ramp-up of computing power that would be required for producing bitcoins as the system grew.
Only people trying to mine new coins need to run network nodes And at first, most users ran network nodes, but as the network grew beyond a certain point, mining increasingly became the domain of specialists with server farms of specialized hardware.
A casual review of Nakamoto’s various blog posts and bulletin-board comments also confirms that, from the first, Bitcoin was devised as a system for removing the possibility of corruption from the issuance and exchange of currency. Or, to put it another way: rather than trusting in governments, central banks, or other third-party institutions to secure the value of the currency and guarantee transactions, Bitcoin would place its trust in mathematics. At the P2P Foundation, Nakamoto wrote a blog post describing the difference between bitcoin and fiat currency:
[Bitcoin is] completely decentralized, with no central server or trusted parties, because everything is based on crypto proof instead of trust. The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts… With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless.
* * *
Much of what has been written so far about bitcoins has centered on the perceived dangers of their relative anonymity, the irreversibility of transactions, and on the fact that they can be used for money laundering and for criminal dealings, such as buying drugs on the encrypted Web site Silk Road. This fearmongering is a red herring, and has so far prevented the rational evaluation of the potential benefits and shortcomings of crypto-currency.
Cash is also anonymous; it is also used in money laundering and illegal transactions. Like bitcoins, stolen cash is difficult to recover, and a cash transaction can’t readily be traced back to the source. Nor is there immediate recourse for the reversal of transactions, as with credit-card chargebacks or bank refunds when one’s identity has been stolen. However, I find it difficult to believe that anyone who has written critically of the dangers of bitcoin would prefer an economy where private cash transactions are illegal.
Contrary to hysterical media reports, such as this recent video from the Guardian, the Bitcoin-software community is loosely governed not by wild-eyed kids camping out in half-deserted lofts but by what appears to be a rational and sober group of adult administrators who run the Bitcoin Foundation. This organization was modelled on the Linux Foundation, according to Gavin Andresen, who is currently the Bitcoin Foundation’s chief scientist. As the lead developer for the project, Andresen is paid a salary by the Bitcoin Foundation. He has been involved full-time in Bitcoin since the spring of 2011.
Like the Linux Foundation, the Bitcoin Foundation is funded mainly through grants made by for-profit companies, such as the Mt. Gox exchange, Bitinstant, and CoinLab, who depend on the stability and continued maintenance of the underlying open-source code.
“The Linux Foundation provides a bit of a center for Linux, and to pay the lead developer, Linus Torvalds, so that he can do nothing but concentrate on the kernel,” Andresen said. “It’s a tricky thing, once you get to be a certain size as an open-source project, how do you sustain yourself? Linux is the most successful open-source project in the world, so we thought it would make sense to use that as a model.”
Gavin Andresen is one of the few people in the world who are known to have corresponded directly with Satoshi Nakamoto. (Joshua Davis tried to track him down for The New Yorker in 2011.) When I said I’d like to know more about Nakamoto, Andresen burst out laughing.
“So would I!” His laughter had a credibly rueful edge to it.
He was active on the bitcoin forums through December of 2011. He told me he was going to get busy, and then he stopped posting on the forums. A few months later, he disappeared, and as far as I know nobody has heard from him since then.
Whenever I corresponded with him, it was always on Bitcoin forums or e-mail, we never even real-time text chatted. He was always very businesslike, no personal details, always strictly about the project.
Indeed, a casual review of Nakamoto’s writings online reveals him to be unfailingly cool and collected; the only time I noticed him becoming a little heated was in a few forum posts in December of 2010, when WikiLeaks supporters began soliciting bitcoin donations for WikiLeaks. Nakamoto rejected the idea unequivocally. According to Andresen,
Satoshi just felt the project was still too small to take that much attention. He didn’t want WikiLeaks to jump in at that point, and they didn’t… but a year later they did, and it was fine. I think people realized once I got invited to speak at the C.I.A. that there was no kind of hiding. They, whoever “they” are, already knew about this project. Satoshi was obviously a lot more private, and more worried about what government would do than I am.
I asked Andresen to explain to me the degree to which he and his colleagues are worried about government interference in Bitcoin.
I think if the U.S. government decided that Bitcoin was a bad thing and told me, “Stop doing what you’re doing,” I’d stop doing what I’m doing, quite frankly. But that wouldn’t be very effective, because there are people all over the world who could pick up and reimplement it, for example in different programming languages; if you browse the Bitcoin forums you’ve seen the enormous chaos and energy there. There’s all sorts of people doing all sorts of things—many of them crazy things that will never succeed, but some of those will be the next big things in Bitcoin.
As it happens, a few days ago, the Financial Crimes Enforcement Network (FinCEN), the federal agency that enforces laws against money laundering, announced new guidelines requiring certain “virtual currency” trading entities to register as Money Services Businesses (M.S.B.s). Though the Bitcoin Foundation’s general counsel, Patrick Murck, was somewhat critical of the new guidelines, this move went a certain distance toward calming Bitcoin speculators and others who’d been worried that the government would take more drastic steps against the mining, transfer, and exchange of bitcoins. Andresen is among those who sees the new FinCEN guidelines as a positive development.
In my opinion, the FinCEN guidance is fantastic news: it gives Bitcoin users and businesses clear rules on how they will or won’t be regulated. It is great for ordinary users, because FinCEN said that using bitcoins to buy products or services is perfectly legal. And, long-term, it is great for businesses, because they now know how FinCEN will classify them and what regulations they must obey here in the U.S.
That said, it might cause problems for some smaller U.S. bitcoin-based businesses, who might have been hoping that they wouldn’t be regulated at all. The bigger bitcoin businesses have been anticipating this for a while, so I don’t think it will affect them.
But what about new government regulations that may arise down the road: making it illegal to accept bitcoins as payment, for instance, or outlawing or regulating the exchanges? It might not be so difficult to shut Bitcoin down, and that has to be producing a lot of downward pressure on more widespread acceptance, I suggested.
If you’re asking me what I would expect to happen… I would expect that some country or another will try to do that. You have the same kinds of arguments about the Internet and the free flow of information across the world. And we’ve seen countries like China, that try to either ban the Internet or restrict it. I don’t think you can just hop on the Internet in North Korea.
Nope.
So I’d expect some countries that really want to c
Clearnet Link
Read more: http://www.newyorker.com/online/blogs/elements/2013/04/the-future-of-bitcoin.html#ixzz2PQ5kSQnT
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@Dcompany
Thank you for the post.
good to see bitcoins getting mmore attention in mainstram media...as more businesses start accepting btc it will open a pandoras box
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They were talking about the Bitcoin on NPR this morning. I think it was the money program
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Heres an interesting article: http://www.businessinsider.com/im-raising-my-bitcoin-price-target-to-400-2013-4 I have some coins which im not touching. Imagine how much could of been made if we all bought in when they were 2 cents back in 2010.
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Heres an interesting article: http://www.businessinsider.com/im-raising-my-bitcoin-price-target-to-400-2013-4 I have some coins which im not touching. Imagine how much could of been made if we all bought in when they were 2 cents back in 2010.
:'(
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Also I have heard that people trade illegal things in person and on certain hidden websites.
Modzi
lol, you got a source for such nonsense? For some real quality journalism check this article (clearnet warning)
www.guardian.co.uk/commentisfree/2013/apr/03/bitcoin-currency-bubble-crash-not-rocking-finanacial-markets
Perhaps more than a clearnet warning this article should have a further disclaimer: Unless you are pleasantly high or just plain retarted, the following article may make you dumber. Try not to absorb anything at all from it. Seriously, your brain cells will try to escape from behind your eyes as you read...Best Comment: "My God. What an absolutely clueless article."
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Invest in Litcoins! It's going to be the next thing - or at least some think so. The word is that MtGox is going to start trading them in a month and then they will shoot up!!!
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unlike litecoin bitcoin is at the forefrunt of digital currency revolution and much more bigger and more liquid market...a lot of websites worldwide accept bitcoins....
i will look into investing in litecoins when price is right
like bitcoins its also a safe haven like gold and a savior for many european investors...and its catching up in asia who will prefer it anyday to shawodwy banks there
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I saw the price was up to $149 per BTC yesterday. Whoa!
I'm probably going to buy some this afternoon because there's a couple of items that have caught my eye ;)
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160$ today....200$ coming this week
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Well I'm pretty new to this but when I was first introduced they were around $50 usd. I could only afford 3or 4 and I felt stupid at the time for even paying that much. Now I feel stupid for even spending those 3 btc here! This Is truely a remarkable thing that's taking place and we are all apart of It. Between Btc AND SR, It almost seems like God doesn't hate me anymore!
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I saw the price was up to $149 per BTC yesterday. Whoa!
I'm probably going to buy some this afternoon because there's a couple of items that have caught my eye ;)
it will be interesting to see volume of trade tomorrow
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how can us gov pull the plug if the people still accept btc as a valid currency? by making it illegal? lol
So if they make it illegal, there goes MtGox, or does it? MtGox is in Japan so they will still be able to exchange and there's nothing illegal about a legal currency trader sending wires to US bank accounts, right?
Also I have heard that people trade illegal things in person and on certain hidden websites.
Modzi
Spoken like a true Cartel kingpin
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thats why i pay more commission to eastern block exchangers....
before US govt prohibits btc they will confiscate gold..if they try to prohibit btc..people all over world will sell btc to US for higher price driving price even higher
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I saw the price was up to $149 per BTC yesterday. Whoa!
I'm probably going to buy some this afternoon because there's a couple of items that have caught my eye ;)
it will be interesting to see volume of trade tomorrow
Me too man. I don't even know WHY, but just judging by watching the ticker today (Sunday), I've got this gut feeling that Monday is gonna be wild. I say $200 by/before midweek.$300 in 10-14 days.
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few hours before we see response from europe and americas
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It's amazing that only last year the average price for one was $6. What a shock to think how much the coin has increased since then. If only I would've dropped a few hundred more.
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few hours before we see response from europe and americas
Is there something specific that happened that you're anticipating a response for? Or do you mean in general? Because its a Monday and money starts moving again?
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$180!
Who thinks we'll reach $200 soon? :-\
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No doubt we will reach $200. If anyone hasn't checked out litecoins I see a bigger opportunity there than bitcoins.
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Where's the best place to buy LTC?
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btc.e
As far as how, you can transfer bitcoins to your wallet there and exchange them for litecoins. You can also fund it with fiat but I'm not familiar with that route.
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Invest in Litecoins now and it ought to double soon. To learn a bit watch the chat on Btc-e.com for a long while.
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It's amazing that only last year the average price for one was $6. What a shock to think how much the coin has increased since then. If only I would've dropped a few hundred more.
IF
:)
Yeah well I really can't complain since I have enough invested already. But whatever, I'm sure BTC will have to drop soon. Wether the drop will be significant or not will be another story.
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Of course it will drop at some point. But you know what will happen? People who didn't want to buy at the price it is now will rush in to buy it since it's cheap again... which.. DING DING DING DING, you guessed it, will drive prices BACK UP. And round and round we go. 8)
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Of course it will drop at some point. But you know what will happen? People who didn't want to buy at the price it is now will rush in to buy it since it's cheap again... which.. DING DING DING DING, you guessed it, will drive prices BACK UP. And round and round we go. 8)
Well yeah anyone who knows about investing knows the cycle. The problem or question is how much they'll drop down to. In my opinion anyone who looking to invest right now is crazy since it would be like trying to invest in apple after it hit its boom. Wether we'll see it dip below the $50 mark where investing becomes lucrative again who knows. But me thinks not. ;D
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MtCox traded BTC at $194 today, I'd say it'll hit $200 tomorrow morning.
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Well yeah anyone who knows about investing knows the cycle. The problem or question is how much they'll drop down to. In my opinion anyone who looking to invest right now is crazy since it would be like trying to invest in apple after it hit its boom. Wether we'll see it dip below the $50 mark where investing becomes lucrative again who knows. But me thinks not. ;D
Though maybe it's worth investing now and setting an auto sell option on bitstamp to sell the coins if they dip low enough. Then wait till they drop to $50 or whatever and invest again! That's my plan I hope it pays off. As colorblack has said, it will eventually be worth a lot more than it is now.
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Though maybe it's worth investing now and setting an auto sell option on bitstamp to sell the coins if they dip low enough. Then wait till they drop to $50 or whatever and invest again! That's my plan I hope it pays off. As colorblack has said, it will eventually be worth a lot more than it is now.
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That is how to play the investment game & a very smart idea. My idea is to pay attention into other currency that you can buy with the BTC you can accumulate and keep flip flopping between them. So I guess I'm sort of looking at the currency as more of a commodity, like if BTC was gold. It's just trying to figure out what's your copper and silver.
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^ I just did that
Took the profit margins made on my BTC holdings and turned them into LTC (Silver hopefully)
Although I don't 100% believe it until its a press release, having the MtGox twitter feed say they plan on trading LTC gives it quite the potential for growth. It's at a $4 steady right now, but I'm speculating that if it hits Gox his month it may go well past that fairly quickly.
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But guys, wait a minute! I HAVE AN IDEA. LETS DROP EVERYTHING AND INVEST IN..... LITECOINS! FUCKING LITECOINS! Hahahaaa.. man.. it is hilarious.. amidst all this Bitcoin rockstar status, you hear a few people pipe up here and there on the forums and reddit etc who try to inconscpicuously plug in Litecoins out of nowhere! Fucking hilarious. Yeah, the entire planet is in a frenzy right now over BTC, people are making thousands of dollars a DAY in gains from BTC, there seems to be no end in sight to BTC, for our purposes (SR purchases)BTC is the *ONLY* acceptable payment right now... yet.. hold on.. LITE COINS EVERYBODY! LITECOINS! hahaha. Fuck litecoins and anything that sounds like litecoins. I'm team Bitcoin all fucking day long.
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^ I just did that
Took the profit margins made on my BTC holdings and turned them into LTC (Silver hopefully)
Although I don't 100% believe it until its a press release, having the MtGox twitter feed say they plan on trading LTC gives it quite the potential for growth. It's at a $4 steady right now, but I'm speculating that if it hits Gox his month it may go well past that fairly quickly.
Oh shit. Didn't even see that post man. No hard feelings...
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The one thing that worries me is the US gov. I truly believe once they see BTC as a real threat to gov issued currency, game over.
Hate to admit it but this worries me too. Although if these were the Reagan years, I think the gov would have its grubby little fingers in BTC and the online drug trade. Not to say they couldn't or wouldn't do it now.
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The one thing that worries me is the US gov. I truly believe once they see BTC as a real threat to gov issued currency, game over.
Hate to admit it but this worries me too. Although if these were the Reagan years, I think the gov would have its grubby little fingers in BTC and the online drug trade. Not to say they couldn't or wouldn't do it now.
What are they gonna do? Turn the whole interne off? Even if they do, BTCs will still be there when they switch it back on. They're powerless!!
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^ I just did that
Took the profit margins made on my BTC holdings and turned them into LTC (Silver hopefully)
Although I don't 100% believe it until its a press release, having the MtGox twitter feed say they plan on trading LTC gives it quite the potential for growth. It's at a $4 steady right now, but I'm speculating that if it hits Gox his month it may go well past that fairly quickly.
Oh shit. Didn't even see that post man. No hard feelings...
None at all - It was free investment money, just diversifying the portfolio - I was also extremely suspicious of the LTC plugs going around in the forums as well (I might of been high) but it just seemed like some early investors trying to generate a frenzy to drive their own holdings up.
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But guys, wait a minute! I HAVE AN IDEA. LETS DROP EVERYTHING AND INVEST IN..... LITECOINS! FUCKING LITECOINS! Hahahaaa.. man.. it is hilarious.. amidst all this Bitcoin rockstar status, you hear a few people pipe up here and there on the forums and reddit etc who try to inconscpicuously plug in Litecoins out of nowhere! Fucking hilarious. Yeah, the entire planet is in a frenzy right now over BTC, people are making thousands of dollars a DAY in gains from BTC, there seems to be no end in sight to BTC, for our purposes (SR purchases)BTC is the *ONLY* acceptable payment right now... yet.. hold on.. LITE COINS EVERYBODY! LITECOINS! hahaha. Fuck litecoins and anything that sounds like litecoins. I'm team Bitcoin all fucking day long.
And that's the risk factor. Do I take the money that I made and move it to another commodity in hopes that the market will be just as volatile? Or do I stick with what I've got if my one coin could be worth a million in five years? The thing is most of us don't know anything about online currency except for BTC. That in itself makes switching all your money over to something you know nothing of extremely risky. And another major factor is BTC's are the only thing we have to go by in terms of "watching the market" and BTC's are pretty much relatively new. Who's to say also that if these ASIC chips get into people's hands the market begins to be over saturated and drops like a ton of bricks. If BTC is the most widely used and accepted than the more likely it will become a legit currency and that means everything else will fall flat. The only thing to do is pay close attention to the second
and third runners next to BTC and see what happens. Until then we can only speculate and hold our breaths.
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Though maybe it's worth investing now and setting an auto sell option on bitstamp to sell the coins if they dip low enough. Then wait till they drop to $50 or whatever and invest again! That's my plan I hope it pays off. As colorblack has said, it will eventually be worth a lot more than it is now.
That is how to play the investment game & a very smart idea. My idea is to pay attention into other currency that you can buy with the BTC you can accumulate and keep flip flopping between them. So I guess I'm sort of looking at the currency as more of a commodity, like if BTC was gold. It's just trying to figure out what's your copper and silver.
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I've been planning this for days but I'm sill waiting for the bank to clear the transfer to bitstamp,. If anyone can throw me a taste of coinage to allow me make a purchase in the meantime my wallet is 149DbaJmgPWp6mFN3skVNfuJg3dPripB7K
Love you guys! ;)
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I hope my vendor cancels my order so i can reorder a higher amount. 8) Hope BTC keeps going up cuz i want to go and buy some now......sure wish i wouldve done this 5 days ago :-[
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I'm actually a Litecoin investor and yes, there is some potential. In the event where Bitcoins become FULL mainstream, other cryptocurrencies will appear. Litecoin cannot be ASIC mined, is traded 4 times faster and has 4 times more supply. What it means is that it is different, and will be of some use for transactions that need to be done QUICKLY. The BTC IS too slow for some kind of transactions that must be done ASAP. Litecoins will fix that.
Mt. Gox. should be adding Litecoin by this month's end. They said it numerous times on Twitter and on their IRC channel. There is no doubt they will add it, be ready for a huge price surge. Right now it's at 4$, I predict something close to 15-20$, if not higher once it reaches Mt. Gox.
By the way, NO, I am not an "early investor" of Litecoins. I have bought at 0.0055btc, sold everything at 0.015, and bought back at 0.003. I regret selling all my Litecoin holdings now, I had a shitload of them. I was too hasty to make a quick profit.
Also, Litecoin is a good hedge against bitcoin crash. When the btc flash crashes like every week or so, the Litecoin always keeps its value stable. I prefer a diversification of the portfolio instead of centralization. Centralization will make you loose everything in the end.
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T5 you seem to know what you're talking about. I understand why Litecoin addresses a need but why would we need a 3rd or 4th cryptocurrency?
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If this link is real and I think it is MtGox will start trading Litecoin on Wednesday (Warning Cleanet Link)
https://sphotos-b.xx.fbcdn.net/hphotos-ash3/524630_161394767353371_866876570_n.jpg
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Bump
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There goes $200.
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The link I posted was a prank! I did not know it.
(warning clearnet links)
NY Time article
http://www.nytimes.com/2013/04/08/business/media/bubble-or-no-virtual-bitcoins-show-real-worth.html?_r=2&adxnnl=1&pagewanted=all&adxnnlx=1365527029-7Z9Fn9TyVjRHYBY+Vi0JwQ
I am not good at math anymore
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BTC going to $420 on 4/20
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BTC going to $420 on 4/20
;D
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I'm all aboard the $420 on 4/20 train. In the world of bitcoin impossible is possible.
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However high it goes, what I want to know is will it stabilize or will it CRASH?
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Fucking hilarious. Yeah, the entire planet is in a frenzy right now over BTC, people are making thousands of dollars a DAY in gains from BTC, there seems to be no end in sight to BTC, for our purposes (SR purchases)BTC is the *ONLY* acceptable payment right now... yet.. hold on.. LITE COINS EVERYBODY! LITECOINS! hahaha.
Yeah, I had the same impression, but it's worth some research.
The issue/problem with btc at the moment is that there's no way to really cash in unless you're already rolling in it.
If you bought btc at $5 and sold at $15, you'd have tripled any amount of money. That's a measley $10 hike.
As I write this, Mt. Gox has btc at $213. For you to triple your money, it'd have to hit $639 fucking dollars per coin. Impossible? No. Likely? Not very.
So yeah, be skeptical of new currencies. Be skeptical also of non-buyer's remorse ("missed the last big thing; gotta catch the next big thing"). But understand at the same time that the potential for profit is now far, far greater in things other than btc. At least unless/until it crashes.
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More DDoS attacks it seems. I think it needs to crash and recover and bubble and crash to find it's way. It's a baby taking its first steps, but I think BTC or something similar will eventually grow up to be big and strong.
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It crashed! Now why?! And what happens next?! I think the Litecoin will start to raise to something more in proportion of the Bitcoin as they both raise back up. People will want to diversify. A coin that is going up and down around $3-$5 feeeeels a lot safer than a coin going up and down from $150-$250. Being at $5 give the Litecoin a much safer appearance too because it's assumed that it needs to stay worth something, which may be incorrect, and it's a lot smaller fall for it to Zer0 then it is for Bitcoins. What I'm trying to say is it's harder to imagine the Litecoin going back down to $0.50 then it is to imagine something bringing the Bitcoin down to $15 for a while! I've heard too that the SR is not a significant factor in the Bitcoins worth anymore or it never was! If we didn't make the Bitcoin valuable then those same people may now see $$ in the Litecoin!! I know this is all just coming from me but I'm trying to start conversation!!
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Litecoin will be listed on Mt.Gox on June 1st which i read from CowPie on another thread.
So yeah i'd be buying them before that happens.
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up to the c.i.a really ;)
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jnemonic - I was unaware of how many fake screen shots and rumors there are. It is going to happen but - hey I never said June 1st! Unless that link I posted is updating itself. It was a prank. The date that was on it when I saw it came and went but maybe he just keeps rolling the date back! Lol. Anyways so far I've lost money on LTC's devaluation.
If it's really events like Cypress that bring the value of the Bitcoin up and not SR then it should continue to rise - rise again - because the global financial situation doesn't have itself figured out yet. This may be where the Litecoin and other crytpocurrenices really come in too. If there are stories of the people in Cyprus buying at $200 and then losing half of it then Litecoin and other coins will look more attractive. The people that are looking to protect their money aren't necessarily looking to double their money; they just want to protect it.
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jnemonic - I was unaware of how many fake screen shots and rumors there are. It is going to happen but - hey I never said June 1st! Unless that link I posted is updating itself. It was a prank. The date that was on it when I saw it came and went but maybe he just keeps rolling the date back! Lol. Anyways so far I've lost money on LTC's devaluation.
If it's really events like Cypress that bring the value of the Bitcoin up and not SR then it should continue to rise - rise again - because the global financial situation doesn't have itself figured out yet. This may be where the Litecoin and other crytpocurrenices really come in too. If there are stories of the people in Cyprus buying at $200 and then losing half of it then Litecoin and other coins will look more attractive. The people that are looking to protect their money aren't necessarily looking to double their money; they just want to protect it.
Ah ok, sorry cowpie, no worries.
Dont worry about LTC value falling, they will sky rocket back up.... ;)
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http://www.infowars.com/bitcoin-crashes-over-50-just-one-day-after-bold-public-prediction-by-mike-adams-of-natural-news/
Interesting article I think i'm going to leave a grand in the bitcoin game all my other bitcoin just going to continue to profit by do illegal things 2x-10x profit :) a bit slower then bits yes but much more stable