Bitcoin virtual currency hits (ALL-TIME) record high after exchange deal - Polidicks

[QUOTE=Lord of Ears;39828013]i'm getting just under 50mh/s when is the part where i get rich[/QUOTE] Never. Did you join a guild/pool? If you do, you'll get a meager but steady income. If not, you get absolutely nothing, unless you're lucky enough to be the one to discover a block, in which case you get 25 BTC (~$1000-1200 US as of today). Pools take the 25 BTC reward from whoever in the pool won it and split it out to everyone who contributed based on how much they computed.

yeah i know, 50mh/s is pretty pathetic i'm in bitcoinpool though, so there's an itty bitty trickle... if guiminer would stop fucking up

I just thought of something, I have yet to hear of one person who nay-says Bitcoin, decide to short it.

Just remembered I have like 4BTC laying around here somewhere that I got from mining way back. Going to offload that and be rich forever.

Y'know, the more and more I get a feel for current happenings, the less I start to believe BTC is actually in a big bubble right now. I still maintain it's slightly over-valued, but judging from how fast it recovered from that "crash" yesterday, I think mostly everyone is feeling a bit more confident in the currency. Maybe I'll eat my words in a week, but right now the pricing feels somewhat right.

I was going to "invest" (aka buy a few coins) a few years ago but the difficulty of doing so put me off. You have to send money around the world to foreign banks, deal with conversion losses and transaction fees and whatnot. It's simply not worth it unless you've got a sizeable sum of money to invest, and then you could still lose it all in one night.

Pulling about 250mhash/s on GTX 590... Wish I had an FPGU or an ATi card. Or even an ASIC miner magically before everyone else gets one.

[QUOTE=Zerohe;39836371]Y'know, the more and more I get a feel for current happenings, the less I start to believe BTC is actually in a big bubble right now. I still maintain it's slightly over-valued, but judging from how fast it recovered from that "crash" yesterday, I think mostly everyone is feeling a bit more confident in the currency. Maybe I'll eat my words in a week, but right now the pricing feels somewhat right.[/QUOTE] Yesterday wasn't a "crash" It was a standard fluctuation that any not-so-known currency/commodity would get if it suddenly received a barrage of news coverage and it's acceptance by two big merchants (one being Amazon) on the web on the same day. It's rudimentary economics. The people who have a passion hate for bitcoin (which shouldn't be, but it still anyway fueled by political anti-libertarianism) just got overexcited when they saw the value adjust and started to act like they were prophetic and that this was the big crash incoming. No. When it gets featured on the front page of CNN and Amazon bitcoin integration happens on the same day, basic stuff will happen. Bitcoin will always be strong for as long as SilkRoad operates (and they wont stop anytime soon).

[QUOTE=Starpluck;39838236]Bitcoin will always be strong for as long as SilkRoad operates (and they wont stop anytime soon).[/QUOTE] A successful market naturally adopts what is most convenient, in SilkRoad's case the use of Bitcoins fits if not perfectly. If new markets begin to start up and utilize Bitcoins then expect it to grow even stronger. [editline]8th March 2013[/editline] Bitcoin simply needs more markets focused around it, otherwise I do not see it going any further than where it is currently at.

[QUOTE=ac/14;39836097]Just remembered I have like 4BTC laying around here somewhere that I got from mining way back. Going to offload that and be rich forever.[/QUOTE] I truly envy you if you can make $180 last forever. [editline]8th March 2013[/editline] [QUOTE=demoguy08;39836419]You have to send money around the world to foreign banks[/QUOTE] Depends where you are and which exchange you're using. For MtGox you have to wire, but in Canada, you can use VirtEx ([url]http://www.cavirtex.com[/url]) and either do a "bill payment" through your online banking, or do a cash deposit at a local Canadian bank. The only thing that sucks is that for bill payment, you have go through a complex verification process (for anti-laundering purposes I suppose). My driver's licence is expired; bars usually accept it as ID, but I don't think VirtEx would since they need an official paper trail. [QUOTE=demoguy08;39836419]It's simply not worth it unless you've got a sizeable sum of money to invest, and then you could still lose it all in one night.[/QUOTE] This is true. I don't think it's necessary going to crash, but you never know for sure. Nobody saw the Wall Street Crash of 1929. Most likely, it'll probably just sit at around the same amount for a while, which still doesn't earn you much. Investing in BTC just for the sake of investing is a huge gamble, and it's probably better to use a tried and true investment vehicle, like mutual funds in your local currency. Apparently there's a BTC mutual fund, but the annual return is [B]-[/B]41.55%??? [url]https://www.ultimafund.com/[/url]

[QUOTE=scout1;39762516]I don't really need to. I can wait a day, a week. I'll come back and post the graph. Bitcoin falls from its spike. Jesus christ, boy, that's basic economics. It's speculation that drives the price at this moment. Besides that I've been proven right before, and you say I don't understand. Could you tell me what credentials you've brought to this table? Oh right haha - You read someone else's posts and agreed. [editline]1st March 2013[/editline] Hell I'll put it to you right now: Make a toxx clause. Max is lurking this thread. You seem absolutely sure that I'm an ignoramus and that Bitcoin [B]will continue to rise.[/B] Duration 1 week. It falls, you get permabanned. Put your money where your mouth is, eh?[/QUOTE] Too bad you didn't accept the wager, it's been a week and bitcoin is up $14, or over 40%.

If I had one, I would give a kingdom for a time machine right now.

[QUOTE=The First 11'er;39754241]yay i found my 0.67 bitcoins in other news, everything on the website in which i found them is incredibly fucking cheap now shit[/QUOTE] Was the website you found them on Silk Road?

Bitcoin is shitting itself again guys [url]http://bitcoinity.org/markets?exchange=mtgox[/url] [editline]12th March 2013[/editline] $48 down to $36

Back to $40, fluctuation between high 30s and early 40s atm. A blockchain forked so some people are panic-selling despite it not being that big of a deal. If you wanna make a quick buck, buy it if it fluctuates back to under $40, resell it in a few days (when it'll stabilize back to around ~$48)

Yep, due to a discrepancy between the capabilities of version 0.7 and 0.8, the chain forked, with 0.8 continuing on normally and 0.7 running its own fork since it couldn't handle same block that 0.8 did. Once the majority of people switch back to 0.7 to make the old, compatible chain become the main one again, the orphan 0.8 transactions will be re-processed. tl;dr it'll be history in a couple of hours and bitcoin is a steal right now, go buy a bunch

it's already back up to $45

Bitcoin is at $90 and still rising. If you bought 10 BC back when there was a "crash" (not a crash) 2-3 weeks ago at $40 and sold them now, you would've easily made $500 net profit.

This is insane.

so you're telling me the .26 bitcoins i got for free are worth $23 now? cool

Why on earth did i have to sell most of mine when it was £30 per coin.

[QUOTE=demoguy08;39836419]I was going to "invest" (aka buy a few coins) a few years ago but the difficulty of doing so put me off. You have to send money around the world to foreign banks, deal with conversion losses and transaction fees and whatnot. It's simply not worth it unless you've got a sizeable sum of money to invest, and then you could still lose it all in one night.[/QUOTE] i'll send u them for 10% on top. [editline]27th March 2013[/editline] [QUOTE=spinpoint F3;40060613]Why on earth did i have to sell most of mine when it was £30 per coin.[/QUOTE] same but £6 lol

[QUOTE=Starpluck;40060108]Bitcoin is at $90 and still rising. If you bought 10 BC back when there was a "crash" (not a crash) 2-3 weeks ago at $40 and sold them now, you would've easily made $500 net profit.[/QUOTE] Please stop reminding me. This makes me depressed. I expected them to crash every minute. If I wasn't so poor I would have taken the risk and bought some.

I still don't know how bit coins work

[QUOTE=Starpluck;40060108]Bitcoin is at $90 and still rising. If you bought 10 BC back when there was a "crash" (not a crash) 2-3 weeks ago at $40 and sold them now, you would've easily made $500 net profit.[/QUOTE] If this is a bubble, it could be bad.

Was given 0.1BTC for free for singing up for coinbase, I don't think i'll sell mine though. It's purely experimental!

Woo I was right to save that 0.98btc from when it was £4 for 1

I am legitimately pissed that I didn't buy them as soon as I first saw this thread. Hell, I really wanted to invest when they were like 10 dollars for one

[QUOTE=Mooman;40061109]I am legitimately pissed that I didn't buy them as soon as I first saw this thread. Hell, I really wanted to invest when they were like 10 dollars for one[/QUOTE] don't be. i think you'd be more pissed if you lost the entire lot. and anyway, i'm reading of huge delays in processing withdrawals to real money. i bet half these places go under leaving everyone fucked.

I think it is time for a dedicated Bitcoin thread.