all i really wanted is enough coin to start trading on cryptsy, which i have, since trading on there ive been making approx 50% profit per week, now i have enough to sell on ebay, at a 200% price markup i may add.
it annoys me when people say " if i'd have just bought bitcoin......."
that's a ridiculous argument, if we'd have bought bitcoin two years ago, we'd be millionaires.....
similarly if i had chosen numbers 3 - 13 - 15 - 29 - 42 and lucky stars 1 & 4 in last fridays euro lottery i'd have over £83M
hindsight......isn't it great
Not really when you are comparing buying a bitcoin hashing contract. The product of the contract is bitcoin so the options you had were: 1) Buy the contract 2) Buy your own mining equipment 3) Buy bitcoin Saying now that you have a profit in another currency because the exchange rate changed is irrelevant. Did the contract return the bitcoin you could have bought at the same time? That is the only comparison that matters. TheQuin - I agree with the main thrust of your argument (that the relevant comparison is between mining bitcoin, hosted or otherwise, and holding bitcoin), but I think saying that the increased price of bitcoin is irrelevant is a bit too strong. I made one or two hosted mining investment decisions that I regret, but I am *much* happier with having made those decisions in an environment where USD per BTC is rallying - I would have my head in my hands otherwise. Not that it in any way makes it ok to not honour your contracts; all of the mining investments I made (with the exception of an early, but small, BFL purchase) stuck to their commitments and started hashing more or less on time, and I received compensation for the one where the hashrate was lower than advertised. scotjam This rally is fueled mostly by the scarcity of coins on sale. The fact that so many noobs have been scammed by cloudscamming and other "mining securities" surely adds fuel to the rally, because those noobs need to hold to their few coins if they want a chance to have a decent ROI in USD in the near future. |
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O'rama, be nice: can you give us a hint of hashrate? What kind of ASIC will it be?
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But still, everybody knows that Bitcoin is the real thing, and the rest just clones and scamcoins.
Scamcoins are like gambling, poor people clinging to delusions of riches ripped off by those who understand the game. Word. One of my favorite things in life is to find an altcoin supporter and whittle away their arguments until they literally admit "I don't care, I just want USD!" I dabble a fair bit in altcoins. Why? Well, I don't care, I just want bitcoins! Making BTC from scamcoins is possible, but extremely difficult. Most of the times you will end up losing BTC if you mess with scamcoins - I know by heart. I was lucky enough to buy LTC at 0.002BTC, I sold for good when it went at aprox. 0.02, and I think I will never ever invest again in LTC. I feel lucky (because it was just sheer luck, a silly gamble that paid off), now I won't test my luck any more. For the record: I lost BTC with XRP and with some other scamcoin. Not a lot in absolute terms because I took those as a game, but a lot in relative (%) terms. |
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To all of you panic buying because you missed the "greatest thing ever", mark this post, within 6 months you will be able to buy in much lower, I have a large buy order at $35 (just above the 2011 high).
if this were an established commodity like gold, copper, soybeans, or a currency cross, which I have been trading for 15 years, that is the smart buy point - not at $159
Poor OP, he was never able to buy $35 coins. Yep, $159 was not a smart buy point indeed, the price is now 5 times higher. Maybe he bought back at $80? No, just read his post history (I did it with a sense of dark entertainment), he is currently saying that he is out because Bitcoin is a bubble and it will collapse because its needed too much money constantly flowing into Bitcoin to sustain the current price given the actual inflationary phase (3.600 coins are "created" every day). Its funny to see how the biggest bears and naysayers (Bitcoin is a ponzi, Bitcoin is a trojan horse planted by the financial elite, etc. etc.) are either those who a) sold and saw the choo choo train leaving the station (they took their dump and were caught with their pants down, they weren't able to jump back in) or b) those who just discovered Bitcoin and feel that its too expensive and only the "early adopters" can profit from it. Both are stupid points, Bitcoin is still in its infancy, and while the chances of it going to 0 remain high, its true potential is yet to be discovered. |
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I asked for a withdrawal today, lets see how long it takes - I will report back.
Did you forget to report back, or is it really taking them four days and counting to confirm your withdrawal request? ...or were you going to post back here when the funds reach your bank account? I requested two withdrawals on the same day: - one was confirmed after a few hours, but the money still didn't hit my account - the other was quite big, and it seems it triggered some sort of alarm as they came back to me with a lot of questions as a KYC (know your customer) procedure. I duly answered everything, and they confirmed the withdrawal shortly after. This happened today, so no money in my account for this withdrawal neither. |
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If there are miners out there willing to take losses in BTC for the sake of $ gains, my offer still stands: send me 100 BTC now and I promise I'll send you back 60 BTC once the value of BTC doubles. No hassle, no electricity cost, no hardware failures!
LOL, good analogy, I will use it everytime someone brags about how they had positive ROI because the BTC/USD exchange rate skyrocketed. Still, for many individuals buying a miner with a CC is the easiest way to enter Bitcoin - OTC or wiring $$ to the exchanges is difficult for some people. But yeah, it's a very expensive way of entering BTC: historically buying has been superior to mining, and that's true 99% of the time except for some notable exceptions (Avalon batch #1 customers for ex.) |
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To all of you panic buying because you missed the "greatest thing ever", mark this post, within 6 months you will be able to buy in much lower, I have a large buy order at $35 (just above the 2011 high).
if this were an established commodity like gold, copper, soybeans, or a currency cross, which I have been trading for 15 years, that is the smart buy point - not at $159
Poor OP, he was never able to buy $35 coins. Yep, $159 was not a smart buy point indeed, the price is now 5 times higher. |
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The altcoins are sharply up today http://coinmarketcap.com/Wondering if it has something to do with a posible weakness in bitcoin price. ltc went to 10usd on bitcoin rally so its unrelated. as bitcoin is $800+ at this point I think you're going to see a lot of the cryptos raise in price. People are interested in BTC, but a price close to Google's stock seems too much for most "average" people. I think it's just a new awareness of this new "virtual currency" movement. It's like the british invasion - Bitcoin being the Beatles. This kind of flawed logic has been repeated over and over since Bitcoin hit dollar parity. When Bitcoin hit $10, many noobs said that new people would have invested in Litecoin because BTC price was too high. Same thing when it hit $100 Same thing when it will hit $1000 But still, everybody knows that Bitcoin is the real thing, and the rest just clones and scamcoins. |
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Wasn't that address already linked to "one of the AHA guys" (I won't be more specific for privacy purposes) who admitted to have had cashed out a big amount in 2011?
Yes. And here we have another reminder that Bitcoin is not anonymous at all unless some very specific procedures are followed. |
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@rpietila, back on board, or still waiting for cheaper coins?
He's made it clear when he plans to re-enter..why not just let him say he's re-entering himself if he deviated from his plan which I doubt he would do without some major revelation. And you should believe him; why exactly?  He did give up advance warning of his Saturday night sell off, which I'm equating with that well planned multi-exchange 10K sell off. I don't think he's gonna time stamp it for us... but he's not all out.. so why is it people try to troll him as if he doesn't have the required BtC to reap the rewards of to the moon scenarios. Ristos post are very much appreciated (especially in his "second era" on Bitcointalk). We just make a bit of fun because his last "famous prediction" was $300k per coin by the end of 2013, and he made that prediction during the bear market that followed the bubble pop on April, 10th. It's kinda funny that his last bold prediction is precisely a bear market during a bull run. He might be right and this bubble popped too one week ago, but its not yet confirmed at all - in fact the price has climbed since he sold. TL;DR: we are just having some healthy fun. |
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I have to say that I don't feel so sorry about the rich who lose major amount of coins, but I do feel sorry for the poor who give up their few coins to the rich. Daytrading Bitcoins is a dangerous game, and a completely reckless game during a bull market. Most in here delude themselves by seeing their fiat profits going up, so they don't feel so bad by losing coins. I'd say that: a) more than 5 trades per month is reckless, considering the high fees + slippage. b) the only good moment to trade is a bear market - and there's is no bear market ATM (this could change in the next days/hours, but I wouldn't bet on it). |
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Just a lot more fiat at Bitstamp. In theory, Bitstamp should be able to climb to 1,300$, but they will probably follow Gox.
Excuse me? On Gox's order book you have more than double the amount of fiat compared to Bitstamp's order book. |
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Are there withdrawal problems at bitstamp now also? Anyone having them?
Or are there problems to send fiat to btc-e now?
Or are the withdrawal problems of gox solved? Anyone can confirm?
Or is there just a flood of fiat to bitstamp?
My wildy speculative guess: most of US traders use Bitstamp because is the only exchange allowing steady USD withdrawals, and the US is extremely bullish now because the Senate hearings. The rest of the world just gives zero fucks about what happens in the US. Just note that Bitstamp price went higher than Gox just after the second Senate hearing. |
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They are referring to 12higDjoCCNXSA95xZMWUdPvXNmkAduhWv: total received coin matches exactly to the numbers in the paper.. Wasn't that address already linked to "one of the AHA guys" (I won't be more specific for privacy purposes) who admitted to have had cashed out a big amount in 2011? |
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I think the somewhat negative CCTV coverage is having an effect in China.
I missed this. What did they say? They said : "bitcoin went too high too fast, big bubble danger, stay away" Exactly that. Perfect. Western financial media has been singing the same song lately, which just means that the short term growth potential is still huge. When financial analysts start saying that BTC is a new paradigm and start advising to buy, that will be the right time to dump. |
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I think the somewhat negative CCTV coverage is having an effect in China.
No. $$$ has been flowing out to arbitrage and flowing in to sell. China is looking at Gox. Gox is looking at Stamp. Stamp just got new money into its exchange about an hour ago. Since then it has already risen 30 points. Its coming my friend. So: the exchange with bigger volume (BTCChina) is looking at the 2nd exchange in terms of volume (Gox), which is looking himself to the exchange with lower volume among the three (Stamp)? I'd really like to understand how you did arrive to that conclusion, it seems pretty much counter intuitive to me. |
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+1 we haven't had a real crash for a long time.
Miners, y u no sell?
(They will eventually)
They have liquidated all their btc in the last 6 months to buy mining rigs and are in the process of rebuilding their stashes. This. Rebuilding their stashes at a loss, which will make them to hold tighter. |
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