Im afraid the days of volatile highs and lows are going to become less and less.  

The more robust the Bitcoin foundation becomes, the less its going to fluctuate.

Its going to become a slowly increasing beast.  Rewarding those who bought and held.

Long term investors. 

And all those times we told you day traders to buy and hold will seem more sensible.  :-P

-B-

Thank you for an intelligent response.


Yes.  It forces me to pay the fee when I try to send.  I guess the coins are "new"  <--- nice arbitrary rule? 

If Bitcoin has any hope of being used for daily commerce this ridiculous "must be 6 months old" rule needs to be eliminated as well.

And either way, a dollar is fucking ridiculous for sending 1 bitcoin.  


What he said ^^^^^^


Correct.  I want to do it 100% free of charge.  Like I can through my Bank:  That entity which Bitcoin is supposed to be so much better than, because it brings us lower cost/free transactions.

With the evil, inferior, (soon to be destroyed by Bitcoin?) CHASE bank, I can transfer an unlimited dollar amount between my own bank accounts for free.

I can also now send up to $5000 to anyone else in the world with a CHASE bank account, 100% free of charge, instantly. I pay one of my vendors this way monthly.  We dumped Paypal because of it.

So why do I have to pay to transfer money to myself (or anyone else on the Bitcoin Network)?  

I know.  The miners need to get paid.  Hmm .....

We're already inferior to Chase bank.  How does that make us feel?

Even if the core dev team "works to lower it" as the price of BTC rises, its still free through my bank.  Thus the point of this thread.

-B-

Disclaimer:  Failed every math class I ever took.  Be gentle.

When I tried to send 0.77 BTC from my QT wallet to my online wallet today, I was told I had to pay a 0.001 fee.  (it was either that or 0.01)

That's nearly $0.83 USD now that BTC is around $830. (Even if im completely doing my math wrong and its $0.08 USD that's still ridiculous).  If I had sent a whole Bitcoin I assume I would be pushing $1.00.

1)  I believe this is a leftover price from the early days, when 0.001 was nearly nothing.  Shouldn't that fee be getting progressively smaller?

2)  I thought Bitcoin was supposed to be "virtually" free?  At the very least, why am I paying more than CHASE charges me to transfer to myself (completely free).  I realize the blockchain doesn't know both addresses are me, but hey, that's not my fault.  

What *IS* this strange new magic you show to us!!!!!!!!!!!!!!???

Art thou a WITCH!?!?!?

Love,

iPhone User.


You downloaded it before they removed it from the app store.

-B-

Its funny.  It used to be that news like this would make the price jump $200....

Now.... ?  not even a jiggle.

Why does everyone post here, drunk?

-B-

If I have all my Bitcoin on my QT application on my laptop, and find myself out somewhere only with my iPhone, exactly how do I send BTC to someone using my iPhone?

I am aware of the technique of using Coinbase, logging into their site, and sending from there (with a nice fee taken out too!) ....  using Safari (since apple banned their app).

But if my coins are not in Coinbase, and I sure as hell dont' want to pay a "withdrawal fee" ... how do I send from my iPhone?

EDIT:  As per responses, there is no fee to send from Coinbase.

If there is more than one way, please let me know.

I thought the IPO price was going to be $0.08 USD per ether?


If it doesn't matter then why did they increase the price from $0.08 to $0.82 ?

-B-

Maybe people dont agree with your original post.  To be honest, you seem to have an agenda of some sort.  Its 3am so i am too tired to speculate on what it is.  But its probably something annoying.  You are utterly ignoring the glaring flaw in your logic.   You could've preordered a KNCMiner 3,000 Gh/s for $9999 in December, probably receive it Feb 15, and believe me, not only will you pay the thing back in a matter of a few days, but you'll be sitting on some very nice profits. Sure, its not 100 BTC a week.  But 5-7 BTC a week is going to be a very happy day when BTC hits $10,000.  So i honestly have no idea what you are going on about.   The $10,000 units are getting more and more powerful.  They have to, or they couldn't sell them.

The ONLY point at which consumer mining is over, is when the hardware *legitimately* starts costing $25,000+ to get the most basic coin return.   BFL had a 500 listed for $24,000 I think several months ago.  Obviously way overpriced if KNC offers a 3,000 for $10,000.  I am waiting to see what the next KNCMiner preorder is going to be.  In order for it to be worth selling, its going to be significantly more than 3,000... and as a result you'll get a profitable mining machine for the same price.

--------------
You also rejected someones comment that alt coin mining can work.  That is utter hogwash as well.  I have a pithy 8 GPU system pushing 5600 MH/s and with DOGECOIN currently at 230 satoshi, I am generating roughly $95.00 per day, which means I will generate a bitcoin from it in 8.7 days.   And do you know how much I spent to get set up?  About $4,000.  

So with $4,000 you can mine alt coins and generate 4 Bitcoins a month.  Get another 4 GPU's, (total of 12) for another $2,000 and make that 6 BTC per month.  Assuming DOGE stays high.  Even when it was low I was doing 1-2 BTC per month.   Mining LTC was giving me 1.4 LTC per day.  With LTC @ $24, thats 1.3 BTC per month.   With a crappy 8 GPU system.  Worst case scenario.  So you're wrong.   Its still possible to mine Bitcoin.  And if 1 BTC is worth $10,000 soon (and it will be), then even 1.3 BTC per month is a beautiful thing.

-B-

Its not going to blow up because of a country.

Its going to blow up because the boom in December has resulted in literally hundreds of millions of dollars being poured into investment funds and startups based entirely around Bitcoin services.

Those will be going live in Q1 / Q2.

And they are the reason the price will shoot through the roof.  

I am nearly 100% confident that we will see $10,000 before the end of 2014.

-B-

So is your username and avatar.
-B-

Make sure you wear that T Shirt you have with the Italian flag on it while you do it, too.

Super important. 

-B-

Bitcoin is remaining at this price because speculators are not frenzy buying.

The most intriguing thing is that adoption is taking off like wildfire, but the price doesn't move.

That's because a legitimate valuation foundation is being built into the current price.

Maybe BTC wasn't really worth 1200 when it hit 1200.

But every day that goes by, $850 is less and less speculation, and more and more actual adoption.  Therefore actual value.

This means every day that goes by, the risk of BTC plummeting also plummets.

When will the price start to rise again?

When adoption/demand to purchase it outbalances availability of it.  That could be soon or in awhile.

-B-

Wine bottle cooler fridge for $100-ish from Overstock!

I will be using them from now on for all my Amazon.com-like purchases (if possible)

-B-

Gweedo.  Make him stop.  Have the Boss break his kneecaps.  Do it.   Do  it.

-B-

Hi Gavin -

This may be a naive question, but there will come a day when the central banking powers that be, the fed, etc ... will start looking to you guys to create features within Bitcoin that adhere to their wants / needs / requirements.   They're going to quickly realize Bitcoin is just a protocol that can be easily modified.   What will you do when that day comes?  I can't imagine the tremendous pressure that could be put on the Bitcoin core developers in the coming months/years by those who want to make Bitcoin into something its not.  Or may very well force you to do so.  

What is going to happen when that day comes?   Not if ...

Do you bend to their demands, out of fear of jail because you are held responsible for the aspects of Bitcoin which are an affront to our government?   Are you the next Edward Snowden, hopping a plane around the world while continuing to code Bitcoin from a private jet with satellite wifi access?  Does the core dev team go underground?

Will you guys be sitting cross-legged in front of Tanks while fasting and wearing robes?

-B-

I know this has been mentioned before, but its such a great concept, its worth repeating:

If you want BTC to succeed, the single most influential thing you can do is buy 1 bitcoin, and literally send paper wallets containing $10 worth to 80 people you know.  

Send one to a wife, and the husband.   One for each of the three kids.  Send to your house cleaner.  Your childrens teacher.  Your Vet.  Send to your friends, and everyone in their family.   Especially their kids.  Send to anyone you have any sort of relationship with. 

Buy the bitcoin, print out a paper wallet from bitaddress.org and snail mail it to them.   Include a note saying "Keep this safe.  It may be worth a lot of money one day.  You can sign up on "X" exchange and send more value to this wallet address anytime you want."

There is no better way to get people interested in Bitcoin, following bitcoin, and yes - out right promoting Bitcoin, than to send everyone you know a paper wallet.

-B-

Hi all -

Let me just say I love Coinbase and I recommend it to everyone.  Olaf has been amazing support for me through many issues.  But today for some reason its like this is the first time I'm noticing this.  I go to buy a bitcoin for someone.  I want the best price of course.   Im happy to see right now its only $808 on Coinbase.  But then I look at the total.  $816.93. 

Nearly a $9 fee just to perform the act of buying a bitcoin. 

I get that its normal, makes sense, is the standard percent but .... I dont want to pay a $9 surcharge on a currency whos entire purpose is free transfer of money.  Its already strange to me that BitPay charges a 1% fee for merchant transactions with a currency that touts "Free" transfer of money.  I have to walk around telling people to switch to Bitcoin to avoid merchant fees, but .. oops .. nevermind ... actually ... there are still merchant fees.  What a deal!

I get that these companies have to make money.   But I have a deep seated foundational problem paying a $9 fee on a paradigm changing currency founded on the principal of free transfer of money. (outside of miners fees)

-B-