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

not order delay, your withdrawal. great u just sold 503 bitcoins for however much money. how long is it going to take to get into your bank. will it ever? just how are some tiny company with very little experience expected to wire hundreds of thousands around the world without any fuck ups. assuming they're honest to begin with.

[QUOTE=joe588;40065015]not order delay, your withdrawal. great u just sold 503 bitcoins for however much money. how long is it going to take to get into your bank. will it ever? just how are some tiny company with very little experience expected to wire hundreds of thousands around the world without any fuck ups. assuming they're honest to begin with.[/QUOTE] I personally haven't heard of anyone simply not being paid in the year or so I've been closely following, but that's just my anecdote. the real problems that people seem to be concerned about are the order (and registration) delays [quote]if the exchanges fail, which they most likely will due to being absolutely shit then you're gonna have to do a lot of work to sell your million bitcoins, by which time they may be worth nowt. maybe if the bitcoin software had it's own live exchange there wouldn't be a problem, no idea how real money would get exchanged however. [/quote] that's exactly the problem, MtGox creates a single point of failure for the system as a whole, and while there are several other exchanges, none of them have the volume so they'd be (even more) volatile

isnt there a story about a guy who bought a pizza with 1000 bitcoins years ago when each coin was worth pennies?

cool well hopefully they get their shit together. just stressing, anyone who thinks they're rich because of what their bitcoins sold for, don't start browsing for your ultra luxurious wank den yet, cos there's a good chance it ain't gonna happen. well i just send 0.6btc to mtgox. i'll sell them and see how long it takes to transfer to my uk bank account.

[QUOTE=meppers;40065098]isnt there a story about a guy who bought a pizza with 1000 bitcoins years ago when each coin was worth pennies?[/QUOTE] It was 10,000 coins for $25 worth of pizza. That's $900,000 right now [editline]a[/editline] source: [url]https://bitcointalk.org/index.php?topic=137.msg1195#msg1195[/url]

I'll throw together a bitcoin thread tomorrow.

i have ~7.9 bitcoins in my wallet that I bought when they were $4 each.. i thought it was pricey when it went to $12.

[QUOTE=meppers;40065098]isnt there a story about a guy who bought a pizza with 1000 bitcoins years ago when each coin was worth pennies?[/QUOTE] probably? good for him i guess? go find some weird crypto currency like bitcoin and start collecting them. i hear litecoin is gaining value... maybe one day u can tell people how you would have been rich. personally, i would have had around £10-15k. that would be nice, pay off my credit cards etc. but in the end it's a gamble, may as well buy scratch cards.

My 0.69 bitcoins are stuck in BitClockers which has had problems with not being able to mine or payout for a while now :<

[QUOTE=Hattiwatti;40065189]My 0.69 bitcoins are stuck in BitClockers which has had problems with not being able to mine or payout for a while now :<[/QUOTE] Just an fyi you're never getting your coins because the admins sold the bitcoins in hopes to gain some income then buy them when it's price drops, obviously that drop never happened.

Honestly BitCoin seems to be a joke as an actual currency, the value is so fluid and changes in such ridiculous jumps that anyone who isn't obsessed with the damn things can see they just don't seem to hold up for trading with properly. Though they do seem quite interesting as a "My First Investment!" kinda thing, as long as you aren't a massive imbecile with your money, just like real investment I guess. What exactly causes these massive leaps every so often? When the price is already high I can't see many people suddenly decided "yeah...I want in".

[url]www.coin2pal.info[/url] is a good site for selling your bitcoins directly to your paypal. Sure their price is a bit lower than market's but at least you don't have to go through a bunch of verification BS to get your money.

[QUOTE=tristanguy2;40065363][url]www.coin2pal.info[/url] is a good site for selling your bitcoins directly to your paypal. Sure their price is a bit lower than market's but at least you don't have to go through a bunch of verification BS to get your money.[/QUOTE] [i]When your Bitcoins are received, your payment will be reviewed and then we will send you the money through PayPal.[/i] Sketchy as fuck. I bet a few hundred people have sent them a few hundred BTC now, and now they're [i]potentially[/i] screwed, with no way of tracking the people responsible, reporting them to Paypal etc.

If you weren't in before don't buy in now if you can't afford to lose the money, it's a second bubble and its a very high risk investment.

If you want to sell your bitcoins for paypal you can use [url]https://fastcash4bitcoins.com/[/url] They are really trusted over on bitcointalk and I've used them many times.

[QUOTE=SCopE5000;40064577]Bitcoin: Putting 15 year olds in Ferrari's since 2011. Looking at this graph of all-time bitcoin prices: [img]http://upload.wikimedia.org/wikipedia/commons/thumb/c/c6/Bitcoin_exchange.png/799px-Bitcoin_exchange.png[/img] I really don't think this rise will sustain itself more than a few weeks/months at best. It might go higher than it is currently though. Possibly over £100. I'd expect them to drop to around £10 or lower again anytime soon and probably rise again in a couple of months.[/QUOTE] I still remember juny 2011. Never thought I would see them climb so high. This is just insane. Someone should explain what exactly triggered this. It almost looks like someone instigated this.

[QUOTE=Desuh;40065742]I still remember juny 2011. Never thought I would see them climb so high. This is just insane. Someone should explain what exactly triggered this. It almost looks like someone instigated this.[/QUOTE] It may be partially because of Reddit and Wordpress accepting it (mainstream publicity), but in reality it was probably just speculation.

[QUOTE=SCopE5000;40065402][i]When your Bitcoins are received, your payment will be reviewed and then we will send you the money through PayPal.[/i] Sketchy as fuck. I bet a few hundred people have sent them a few hundred BTC now, and now they're [i]potentially[/i] screwed, with no way of tracking the people responsible, reporting them to Paypal etc.[/QUOTE] both people get their accounts frozen. [editline]28th March 2013[/editline] and how the fuck is this ever supposed to become a real currency when a few lucky people got extremely rich for nothing? cos that's the idea, these people think in 20 years each coin will be worth thousands. cool it did work, instead of liberating the people from evil financial institutions as was the supposed intention... you just became them yourself.

But why would anyone want to buy them at this price?

for a laugh at most. I just 'made' about £15 in a few hours partly due to the retarded fluctuation going up 2 quid a coin and mostly cos i gambled it by sending some to satoshi dice. Luckily i won, i sold and I'm now up. Whether i see this as actual money i have no idea. But it was money i was prepared to lose.

[QUOTE=meepugh;40065954]But why would anyone want to buy them at this price?[/QUOTE] That's what I thought days ago and they went up again.

[QUOTE=SCopE5000;40065402][i]When your Bitcoins are received, your payment will be reviewed and then we will send you the money through PayPal.[/i] Sketchy as fuck. I bet a few hundred people have sent them a few hundred BTC now, and now they're [i]potentially[/i] screwed, with no way of tracking the people responsible, reporting them to Paypal etc.[/QUOTE] I've used them three separate times and they are trust-able imo. This is only my word though. The guy has to manually pay you through paypal.

A lot of people at my university have been talking about this sudden spike in value, a friend of mine even made a decent profit out of it. He's been trying to convince me to get in on it as he thinks the price could potentially rise to thousands of dollars, but I feel like this bubble won't last for much longer.

[QUOTE=TravisG;40067823]A lot of people at my university have been talking about this sudden spike in value, a friend of mine even made a decent profit out of it. He's been trying to convince me to get in on it as he thinks the price could potentially rise to thousands of dollars, but I feel like this bubble won't last for much longer.[/QUOTE] You know if this rises by any other slightly substantial amount you will hate yourself forever

[QUOTE=Crumpet;40067845]You know if this rises by any other slightly substantial amount you will hate yourself forever[/QUOTE] I already know that feeling, since my friend asked if I wanted to invest a week ago when the price was 70$. It's still a gamble though.

Bitcoin: The poor mans stock market. It's a shame the currency has no world value, and never will with the ease in which it's obtained.

[QUOTE=Axznma;40068078]Bitcoin: The poor mans stock market. It's a shame the currency has no world value, and never will with the ease in which it's obtained.[/QUOTE] "Ease" I'm sure you're willing to shell out thouzands on riggs to generate.

[QUOTE=joe588;40065869]and how the fuck is this ever supposed to become a real currency when a few lucky people got extremely rich for nothing? cos that's the idea, these people think in 20 years each coin will be worth thousands. cool it did work, instead of liberating the people from evil financial institutions as was the supposed intention... you just became them yourself.[/QUOTE] Don't expect much from a currency that until recently could only process 1700 transactions a minute or something. Coupled with the pseudo-anonymity, inherent deflationary nature and being literally tied to the fiat currency it hopes to supersede Bitcoin is not much more than a really cool art deco building made of cheese (that is awfully built and prone to collapsing) [editline]28th March 2013[/editline] It's like all the bad things in capitalism except only affecting the people who want it to be that way (libertarians)

[QUOTE=Ybbat;40068382]"Ease" I'm sure you're willing to shell out thouzands on riggs to generate.[/QUOTE] Thousands on riggs? That's nothing. Try hundreds of thousands/millions to invest in business/stocks. That's the key difference between the two, and why Bitcoin will never be taken seriously by the major hundred-billion dollar interests; the system is too easy for the poor to get into the game and make a killing. Why let other people take part in your economic pool when there's already the massive wall in place with the dollar? It's easy for the wealthy to grow their wealth with the current systems in place; Bitcoin is a perceived viable way for those without wealth to do the same. It's a threat. This is basic stuff. I've the tendency to think that people foaming over Bitcoins are people that have never had any real money, and thus do not know how that part of the world works. By all means, mine your heart out; it's a low-risk-high-reward scenario right now and there's not much wrong with taking advantage. But don't even for a moment think this is the next super currency, or that you will be the next Apple using your Bitcoins to fund the way -- that's simply early adopters hoping to the gods that such an event will pass so they'll be rich.

This sound's like a Bubble that's ripe to burst. I like Bitcoin's because the government doesn't print trillion's of it and because it's online but I think people are putting too much hope into it now.