Bitcoin Forum

I just watched Primecoin spike to .0148 on cryptsy.

It seems to have dropped back slightly, but is still above .01

Get 'em while they're hot folks   :D

EDIT: Looks like it actually hit .015999 before receding.

It hit .019 on mcxNOW

Wow, someone had a real case of trigger finger there.

I was there when it happened.

Dunno if anyone actually bought at 0.019 but I sold 200 XPM at 0.015 so I'm happy :)

I like your wording, makes it sound like it was a historical event  ::)

What other altcoin reached 0.019 BTC in 11 days?

It is/was a pretty exciting time :) especially since I made some bank

pfft..

You won't be happy when it reaches 0.1 BTC.

I put 1BTC in LTC and bought back in with the rest at 0.0096 so it was a pretty good night overall

If it is able to reach that level, it's going to take plenty of time and require a whole slew of useful XPM services. I'm sure it's within the realm of possibility though  :)

A Ripple gateway might help, giving it access to pretty much any service that is interested in people being able to pay with whatever they want while the vendor gets paid in whatever they want...

With the proliferation of currencies out there, what vendor would bother anymore to use a shopping cart that doesn't automagically allow pretty much any darn thing out there to buy what they sell?

-MarkM-

Sorry, I guess I am just jealous and still angry at myself for selling 25 XPM at 0.0022.  >:(


Nice score for you congrats!!  ;D

At least it was only 25 XPM. I bought 1k XPM at a low price and sold them all for a 15% profit. If I held, I would have made over 150% profit.

I'm not very knowledgeable when it comes to Ripple, but for it's intended purpose I do see your point. It would make using XPM for just about anything a reality.

Now you need at least near 60BTC (roughly) to increase price by 100% - did you say "low volume"?  ;D

If anything Primecoin has taught me is, I know nothing about efficent trading

XPM is going to at least LTC levels

60 BTC is not volume.

Don't forget about age of this coin and % of total coins on exchange now  ;)

It was at least 20 BTC

This.

Ha ha, oh dear. Do you have ANY idea of how long it has taken for just a few hundred companies to dip their toes into BTC? And you are asking them to support a bunch of shitty altcoins? Bitcoin is literally the ONLY currency of even remote mainstream interest and even with $1 billion market cap it barely offer enough trading volume for the API's for accepting it to be useful.

No, the altcoins are just more dinner bill divvying IOUs like any other made up IOU, it is not the IOUs part of Ripple that vendors will buy into, it is the part where they can accept any fiat currency, even ones that Paypal or Dwolla or whatever other payment processor doesn't support that they buy into. That this means Joe Sixpack can buy using his accumulated dinner-bill IOUs from his buddies is totally incidental, as is that people can use bitcoins, litecoins, whatevercoins, the vendor doesn't care unless the exchange rates are so insane that they make their prices look uncompetetive.

So likely vendors would want the payment processor to be very very clear how much of the price shown is actual price and how much is because no one really trusts your lunch buddies to pay their IOUs so you are getting really crappy exchange rates when you buy using those IOUs...

But hey maybe you are right and Google was foolish to invest in Ripple because it will never catch on...

(Heck maybe like the petroleum industries who buy up all the engines that run on water patents Google is only buying it up to ensure it never catches on? Or like the big companes that buy seats on standards organisations to ensure the standards never catch on so their proprietary solutions will continue to reign supreme?)

-MarkM-

but that's the beauty of CC bitcoin, ltc, PPC and now XPC

Google, nor any entity, central no matter how rich can but up all the coins, they will only drive the price up, and spend all their money while making others rich....why because their is no way to game it, and as soon as they do find away, that coin loses all value and people shift to a new one.

Huh? I was meaning Ripple, not blockchain based currencies.

The vendors will want whatever currency they want, the point is they don't care whether the end user of what they sell is shipping gold or mowing lawns or sending bits and bytes on blockchains or giving out IOUs to friends so long as they the vendor get the currency they themselves want and whatever exchange procedures the payment processor uses to turn the gold or lawn-mowing or bits and bytes on blockchains into what the vendor actually wants don't cause the vendor to look to everyone to whom his own favourite currency isn't their native currency as being an overpriced vendor, charging way too much gold or way too many hours of lanw-mowing or way too many whatevercoins on whatever blockchain for his goods or services.

i doubt a vendor is going to say "I don't want a payment processor that can sell my stuff even to people who don't have any of my own local legal tender", on the contrary it seems reaonable to me they will prefer their payment processor to be able to turn as wide a variety of stuff as possible into the kind of money the vendor wants.

-MarkM-

@Bitcoin Megastore

Sure and you think its just like that??? blow 10-20M $ and do 51% attack, lol
If someone did it to a BTC i bet police if not then people would find him and that would be the end of the smartass!

It would be like investing 10M to rob a fort knox!