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

[QUOTE=Reader;39747870]I have got 4850 coins from 2009, that's like 145k USD I got for little effort. Gon sell soon[/QUOTE] You should uh, spread the wealth.

[QUOTE=mblunk;39749271]Actually, make that $357,000. [img]https://lh6.googleusercontent.com/-_zr-ZIZZiPw/US-TI7XzM7I/AAAAAAAAI20/UIV-Dv-NEZ0/s0/2013-02-28_12-25-55.png[/img] Source: [url]http://bitcoincharts.com/markets/mtgoxUSD_depth.html[/url] [editline]a[/editline] Ninja'd[/QUOTE] That number is misleading. mtgox has an artificial pay wall to give the appearance of increased depth.

[QUOTE=Lazor;39751212]That number is misleading. mtgox has an artificial pay wall to give the appearance of increased depth.[/QUOTE] Citation needed

[QUOTE=Mindtwistah;39748302]Wow you manage to avoid my question completely a second time. Good job.[/QUOTE] it's because it was a stupid question. all I said was that bitcoin has basically nothing to do with Silk Road since nobody cares about the actual value of bitcoins because it adjusts automatically and is basically just an abstraction layer. I don't give a fuck how you get your cat drugs, but don't act like its the only place to get them and ffs don't pretend it's fucking inpenetrable because nothing is. ok. That's it. No more. for real this time [editline]28th February 2013[/editline] [QUOTE=mblunk;39751247]Citation needed[/QUOTE] I saw the fake transactions, conveniently spaced about 50 cents apart get taken down like clockwork during the last crash.

I honestly don't get Bitcoin, but I'm interested by what I'm seeing. Not gonna buy any or try to "mine" for any, but interested.

[QUOTE=Lazor;39751299]it's because it was a stupid question. all I said was that bitcoin has basically nothing to do with Silk Road since nobody cares about the actual value of bitcoins because it adjusts automatically and is basically just an abstraction layer. I don't give a fuck how you get your cat drugs, but don't act like its the only place to get them and ffs don't pretend it's fucking inpenetrable because nothing is. ok. That's it. No more. for real this time [editline]28th February 2013[/editline] I saw the fake transactions, conveniently spaced about 50 cents apart get taken down like clockwork during the last crash.[/QUOTE] That's an anecdote, not evidence.

If anything, you should wait for bitcoins to tank back down again before buying shit. It's another bubble; as a currency bitcoins tend to be unstable as hell.

[QUOTE=Jad Hinto;39754056]If anything, you should wait for bitcoins to tank back down again before buying shit. It's another bubble; as a currency bitcoins tend to be unstable as hell.[/QUOTE] As the OP says, the current price does look to be justified. I'm not one to predict the future, but the last thing I'd expect right now is a crash. Notice the difference between the first initial bubble and the latest growth, the current pace has been holding for months and has had plenty of time to be corrected already, while the first bubble was practically overnight, and only popped when it was revealed MtGox had a vulnerability.

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=Killuah;39747740]This is why the concept has a pyramid scheme like structure IMO. Early adopters get a shitload of money for almost no effort and the new adopters have to pay for it. Bitcoins getting more expensive the more people use it is an intrinsic part of of the concept. And a currency really shouldn't do that.[/QUOTE] That's how the stock market works, actually.

question: should i sell my bitcoin now, keep the money, wait until they drop again, and then buy more? if they never do rise again or fall i'm only losing free money

I remember mining and selling a whole bunch back when prices hit $28/btc in like, April 2011. Bought Mafia 2, Just Cause 2, and a whole bunch of other stuff with bitcoins. Unfortunately my puny 6750HD no longer keeps up with that and I'm lucky if I get 0.0001BTC with each solve.

Myself I mined around 25 BTC on my 5970/7970. I should of saved my bitcoins about 2 months ago when it was only worth 15 dollars.

[QUOTE=The First 11'er;39754442]question: should i sell my bitcoin now, keep the money, wait until they drop again, and then buy more? if they never do rise again or fall i'm only losing free money[/QUOTE] Wait for it to go a whole week without increasing by more than $0.10-$0.50, then sell. There's no reason to assume it's going to stop now.

mblunk tried to get me into this bitcoin thing and my graphics card was literally shitting itself because the chip can't even handle the factory overclock, mining is way too much trouble now if you don't have a farm or fucking skynet or whatever I wish i'd have heard of this a couple of years back

Can someone link me to a place to buy and sell bitcoins? I have no idea where to get started in trying to invest in bitcoins.

[QUOTE=legolover122;39754676]Can someone link me to a place to buy and sell bitcoins? I have no idea where to get started in trying to invest in bitcoins.[/QUOTE] mtgox.com [url]https://www.google.co.uk/#hl=en&sugexp=les%3B&gs_rn=5&gs_ri=psy-ab&tok=bv61v8IJ7nVV-_1oNcxJJQ&cp=5&gs_id=i&xhr=t&q=buy+bitcoins&es_nrs=true&pf=p&safe=off&output=search&sclient=psy-ab&oq=buy+b&gs_l=&pbx=1&bav=on.2,or.r_gc.r_pw.r_qf.&bvm=bv.43148975,d.d2k&fp=aae20462d959a6ad&biw=1280&bih=880[/url] [editline]1st March 2013[/editline] p dumb investment btw, think of it more as gambling.

Will running a miner increase the electricity bill more than just keeping my computer on all day?

[QUOTE=cis.joshb;39754915]Will running a miner increase the electricity bill more than just keeping my computer on all day?[/QUOTE] Don't mine. Unless you have a warehouse filled with dedicated mining rigs, it's of no use for people to mine anymore. Electricity costs will offset profits for people leaving their gaming rigs on overnight to mine.

[QUOTE=Brt5470;39747861]The main goal is decentralized currency. It's not tied to a country or a government. Using a dollar kind of avoids that benefit.[/QUOTE] so use silver [editline]28th February 2013[/editline] [QUOTE=legolover122;39754676]Can someone link me to a place to buy and sell bitcoins? I have no idea where to get started in trying to invest in bitcoins.[/QUOTE] now isn't the time to start, it'll drop again soon. give it a few months

[QUOTE=ButtsexV3;39754986]so use silver [editline]28th February 2013[/editline] now isn't the time to start, it'll drop again soon. give it a few months[/QUOTE] That then doesn't really work online if it's tied to a product/material.

[QUOTE=ButtsexV3;39754986] now isn't the time to start, it'll drop again soon. give it a few months[/QUOTE] I know I know, I was mainly asking for it so I could jump on when it goes low.

Bought £25 worth of Bitcoins the other week and now it's worth £31 woah

[QUOTE=Zerohe;39754942]Don't mine. Unless you have a warehouse filled with dedicated mining rigs, it's of no use for people to mine anymore. Electricity costs will offset profits for people leaving their gaming rigs on overnight to mine.[/QUOTE] Can you answer the question?

[QUOTE=cis.joshb;39755295]Can you answer the question?[/QUOTE] If you are asking if mining BTC uses more power than letting your computer idle all day, then yes, it will.

[QUOTE=Starpluck;39749239]Most of the people in this thread that are attacking bitcoins aren't presenting anything meaningful. They're most likely bitter-fucks that are upset they didn't decide to buy some back then but instead wasted their time whining about how it's going to fail. Bitcoin production has been halved, SilkRoad is getting extremely popular and more merchants are accepting bitcoin.[/QUOTE] [IMG]http://i.imgur.com/T75x4Ai.jpg[/IMG]

[QUOTE=Zerohe;39754942]Don't mine. Unless you have a warehouse filled with dedicated mining rigs, it's of no use for people to mine anymore. Electricity costs will offset profits for people leaving their gaming rigs on overnight to mine.[/QUOTE] by the way is there a way to set you'r pc so it will take up less Electricity

[QUOTE=Turing;39747707]i mined a shitton in 2009. i have 780 BTC :smile: i think i should sell some[/QUOTE] If I were you I would buy a lot of shit of bitmit.

If anyone is willing to answer this: What the fuck are ASICs, and why does inputting their specs into mining calculators yield ungodly results? What is the catch?

[QUOTE=Zerohe;39756031]If anyone is willing to answer this: What the fuck are ASICs, and why does inputting their specs into mining calculators yield ungodly results? What is the catch?[/QUOTE] CPU's are designed to process many kinds of information. They can run almost anything. GPU's are designed for graphics processing, more specialized so they are faster. An ASIC is a completely specialized chip designed completely for one task. An ASIC for bitcoin mining can be made incredibly efficient and fast, rather than a chip that is designed to do many other things.