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221  Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;) on: July 18, 2014, 04:21:30 PM

Meanwhile in spain: Unemployed, barely can pay bills, my pet is sick to boot. On top of that: I learned about Bitcoin back in 2009 but didn't invest because it was always linked to criminal activity so didn't look into it, as a result, I see it on mainstream news 4 years later about how it went to 700 dollar a coin. Thank you Bitcoin for making me suicidal for life.
A lot of people have some heartbreak stories including myself, loosing 111 bitcoins for not taking proper care of them, but the bottom line is bitcoins are still cheap. Look at the microsoft price where it was after 5 years, $1 on beginning of 1991


But Bitcoin has already reached Gold-tier prices... can you really compare that graph to Bitcoin? What you are suggesting is Bitcoin has barely seen a rise in price yet compared to what's to come. I think this is plain insane and inceptions my mind. How could a single unit of something be so valuable? If we scalate your graph to Bitcoin what you are saying is that these stories about Bitcoin reaching 100K dollars will become true. I think this is plain nuts and delusional. How could a single BTC have the purchasing power of 100K dollars? Of course, it could always mean that Bitcoin goes to 100K and dollar decreases to the point 100K have the purchasing power of 10K... what im saying is, if what you say is right and taking into account the dollar doesn't collapse, and taking as a reference the current dollar purchasing power, one single BTC in that supossed future of yours would mean it can buy you a house. I don't really thing this is possible. How absurdly rich would be the guys that mined at the very early stages or invested when it was worth peanuts, and now have shit tons of BTC? They would become the new Rothchilds. That's just too nuts.

Someone needs to take a brief course on decimal points and how they can be used to divide up large things.  Roll Eyes
222  Economy / Speculation / Re: Bitcoin (BTC/USD) Price Prediction. $4000-$6500 by August/September 2014. on: July 11, 2014, 08:21:43 PM

I try to believe this, but I don't see where the money would come from even within the next 2 YEARS. The difficulty of adding another 90 billion to the market cap is a VERY large jump IMHO.
223  Bitcoin / Bitcoin Discussion / How does someone with a single wallet with 30k coins not feel vulnarable? on: July 04, 2014, 08:07:07 AM
Think about it. 30,000 coins. A public key that everyone knows about now. And perhaps 10,000 computers guessing at the private key? I'd feel vulnerable.

that is all
224  Economy / Economics / Re: UPDATE: Silk Road Bitcoin Auction Winner REVEALED! on: July 02, 2014, 07:01:31 PM
Welcome to 6 hours ago.
225  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 01, 2014, 11:03:17 PM
The winning bid was $706 - mark my words. And I won't tell you how I know. Smiley
226  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 01, 2014, 09:00:31 PM
There is NO way they are dumping them for what they paid!
227  Economy / Economics / Re: $50k to Invest - Convince Me! on: June 15, 2014, 03:36:31 AM
I think this is all you need to look at - and check out the second tab on the bottom as well.

https://docs.google.com/spreadsheet/ccc?key=0ArD8rjI3DD1WdFIzNDFMeEhVSzhwcEVXZDVzdVpGU2c#gid=1
228  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 14, 2014, 04:16:45 AM
I can't figure out how fonzie got off my ignore list. Remedied now...
229  Other / Beginners & Help / Re: Better way to do paper wallets? on: May 20, 2014, 03:26:56 AM
I recommend you go to https://www.bitaddress.org/ and create a BIP38-encrypted wallet - then you don't have to worry so much about hiding the wallet. Just don't forget your password!

This is what I am doing:

Creating and loading the wallet -

1) Save to my HD the bitaddress.org URL for generating BIP-38 encrypted paper wallets.
2) Create a LINUX LiveCD for booting from a flash drive for a fresh, offline OS.
3) Disconnect computer from the internet, boot into LiveCD, and generate my encrypted paper wallet via the bitaddress.ord URL (running standalone).
4) Save the wallet off as a PDF and also print multiple copies. Since it's encrypted, I can have a few copies and keep them multiple places and the PDF will also be available if the paper fades or is destroyed.
5) Reboot regular OS and head out to the exchange.
7) Send my bitcoin to the public key of my paper wallet, starting with a small amount and confirming it got there via blockchain.info.

Getting bitcoin back out of the wallet -

1) Using the block chain app on my android tablet, scan the encrypted private key of the paper wallet (I could also use the bitaddress.org code offline to decrypt it manually also).
2) The app will ask for the key I used to BIP-38 encrypt the private key - type in the password used to encrypt it and the wallet's bitcoin will be accessable.
3) Sweep the wallet into my blockchain online wallet.
4) Send any bitcoin that I don't want to keep online into a new paper wallet, created in the same way I created the first one (might not be necessary - see 3).
230  Bitcoin / Bitcoin Discussion / Re: Quick poll: best way to store your bitcoins. How you store? on: May 20, 2014, 03:23:52 AM

I recommend you go to https://www.bitaddress.org/ and create a BIP38-encrypted wallet - then you don't have to worry so much about hiding the wallet. Just don't forget your password!

This is what I am doing:

Creating and loading the wallet -

1) Save to my HD the bitaddress.org URL for generating BIP-38 encrypted paper wallets.
2) Create a LINUX LiveCD for booting from a flash drive for a fresh, offline OS.
3) Disconnect computer from the internet, boot into LiveCD, and generate my encrypted paper wallet via the bitaddress.ord URL (running standalone).
4) Save the wallet off as a PDF and also print multiple copies. Since it's encrypted, I can have a few copies and keep them multiple places and the PDF will also be available if the paper fades or is destroyed.
5) Reboot regular OS and head out to the exchange.
7) Send my bitcoin to the public key of my paper wallet, starting with a small amount and confirming it got there via blockchain.info.

Getting bitcoin back out of the wallet -

1) Using the block chain app on my android tablet, scan the encrypted private key of the paper wallet (I could also use the bitaddress.org code offline to decrypt it manually also).
2) The app will ask for the key I used to BIP-38 encrypt the private key - type in the password used to encrypt it and the wallet's bitcoin will be accessable.
3) Sweep the wallet into my blockchain online wallet.
4) Send any bitcoin that I don't want to keep online into a new paper wallet, created in the same way I created the first one (might not be necessary - see 3).
231  Bitcoin / Bitcoin Discussion / Re: Winklevoss twins: Bitcoin will be bigger than Facebook #bitcoin #facebook on: May 19, 2014, 03:32:09 PM
If they are just talking market cap, duh. Of course it will. Kinda silly to think it would be bigger than Facebook in day to day impact on people's lives, though. In that regard - no chance.
232  Economy / Speculation / Re: $5000+ bitcoin? on: May 16, 2014, 07:23:45 PM
Rinse...repeat!
233  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 14, 2014, 06:55:26 PM

Is this really a good thing? I'm guessing that if PayPal starts accepting Bitcoins, they will STILL take their 3% from the seller. The dream of Bitcoin is that we don't NEED PayPal anymore.
234  Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;) on: May 07, 2014, 07:15:05 PM

Repeat after me:

BITCOIN IS NOT A STOCK.

Stocks don't jump up 10× in 60 days.  Bitcoin has.  And it typically does it at the end of one of these wedges.

I'm ready. Make it so.
235  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: May 01, 2014, 02:57:01 PM
Don't quote igorr - he's the most ignored poster here for obvious reasons...
236  Bitcoin / Bitcoin Discussion / Re: [POLL] Spending bitcoin on Amazon: when will it happen? on: April 30, 2014, 02:25:40 AM
Use Gyft to buy Amazon gift cards and get 3% back.   Works great.

This! I'm thinking we lose the 3% when Amazon starts accepting Bitcoin, so live it up!
237  Economy / Speculation / Re: BTC drop to next level coming...bail the F out now! on: April 28, 2014, 03:07:21 AM
You can look at this and decide for yourself. Historically this would be a terrible time to bail out.

https://docs.google.com/spreadsheet/ccc?key=0ArD8rjI3DD1WdFIzNDFMeEhVSzhwcEVXZDVzdVpGU2c#gid=1
238  Bitcoin / Bitcoin Discussion / Re: [POLL] Spending bitcoin on Amazon: when will it happen? on: April 18, 2014, 05:35:39 AM
You can already buy anything you want from Amazon with Bitcoin via gift cards through Gyft, and save 3% to boot. If Amazon starts accepting Bitcoin, I doubt you'll still be able to save the 3%. So what's the rush? :-)
239  Economy / Speculation / Re: rpietila Wall Observer - the Quality TA Thread ;) on: April 17, 2014, 03:27:32 PM
Hey, I am glad someone else mentioned ethereum, will you or anyone else reading this buy the ether coins when they come out?  1 btc/1000 eth I think.  Would this be a smart investment?

I have about 5-10% of my crypto investment spread across some of the major altcoins -- mostly litecoin, but a few others as well. If you're in the mood to gamble, you might want to convert some bitcoin into some cheap-o alts before the next parabolic rise in bitcoin, then convert back into bitcoin after the parabolic rise. But I consider this to be "speculation" (trying to predict what the market will do based on psychology rather than fundamentals) which is less worthy of respect than investing, which is based on one's understanding of market fundamentals.

As for ether, I'll probably buy a little bit, but I plan to reassess when it comes out. I read something recently by Vitalik about bitcoin sidechains in which he said that Ethereum would probably not work as a sidechain, bc it's too different, but he also indicated that Ethereum could work *with* bitcoin and other alts as opposed to being a competitor that might replace bitcoin. As a long term bitcoin investor, I am encouraged by that. Smiley

Why would you get out of bitcoin BEFORE it's parabolic rise? I must be missing something.
240  Economy / Speculation / Re: Ok here we go.. on: April 16, 2014, 04:01:10 PM
igorr loves to be added to ignore lists, so go ahead and make it so. :-)
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