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602
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Other / Beginners & Help / Re: Bitcoin for a Business
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on: January 25, 2015, 05:57:48 AM
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If your wanting to convert BTC to USD's without a doubt Coinbase is probably your best option currently. It's a breeze to setup and works really well.
Have been using them for about a year and haven't had any issue's whatsoever that weren't resolved in a highly professional and timely manner.
Additionally, as a Merchant, you can essentially shield yourself from Bitcoin price volatility by simply cashing out immediately. (although I would encourage you to keep some small % in btc, might end up working out really well for you in the long-run;)
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606
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Economy / Web Wallets / Re: Best online wallet without fee?
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on: January 20, 2015, 08:53:02 PM
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The last BTC transaction that I sent out without transaction fee's actually took > 24 hours to confirm.
Personally I wouldn't advise using any online wallet service, but if I had to choose one I would definitely go with the one OP doesn't want to use (blockchain.info)
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607
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Economy / Economics / Re: How Come Bitcoin Dropped?
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on: January 19, 2015, 05:49:58 PM
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People that have essentially stolen the coins they hold from others via Cloud Mining scams, HYIP, ponzi schemes and outright hack's could give two s!@# about BTC price, thus, far more selling than buying going on.
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611
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Other / Beginners & Help / Re: Easiest way
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on: January 14, 2015, 09:40:55 PM
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Really depends on what you define as easy?
Coinbase works great for US residents if you have a checking account and/or CC (for instant BTC purchases).
localbitcoins.com works great if you want to get your BTC directly from an individual.
Other primary way would be purchasing via an exchange but do your homework before going with just anybody. As you can see, even somebody as large as Bitstamp and in the past Gox can ultimately end up being a bad call. (Thankfully this hasn't killed Bitstamp which for me to date at least has been fairly reliable as well)
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612
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Other / Beginners & Help / Re: Just a friendly advice for the new guys
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on: January 14, 2015, 09:37:12 PM
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Excellent OP.
*And for you new investors, you can see bitcoin is highly volatile (to say the least) so as always, only invest what you can afford to lose! And please, if you do hold BTC, don't give somebody else control over them.
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613
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Bitcoin / Mining speculation / Re: Remember when people said you could not ROI when bitcoin was at 400 - 500 ?
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on: January 14, 2015, 07:57:05 PM
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If you think these recent price drops aren't seriously negatively impacting the major ASIC manufacturers bottom-lines (yes, even Bitmain) your completely off your rocker imho. If your a large mining farm current price levels are basically a death knell insofar as profitability is concerned. There are going to be quite a few mining operations shutting their gear down in the coming weeks/months I suspect.
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614
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Economy / Speculation / Re: This is really fucked up
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on: January 14, 2015, 07:44:50 PM
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No, I meant 'ensures'.
Indeed, my mistake. I'm on a hair-trigger for people transposing those words and misread your statement. Sorry. Everything else you posted actually supports my statement.
Well you're simply making statements about the present, whereas I'm looking at the trajectory and envisioning what bitcoin can become. The former is uninteresting to me, whereas the latter is what this whole thing is about. Honestly, the ecosystem has come a lot farther a lot faster than I would've expected. The unfortunate side-effect, as noted, has been the premature injection of, shall we say, less thoughtful folks with ridiculously short-term-minded expectations. Now a lot of those folks have turned into bears who just look to the fact that Bitcoin is *currently* not a robust, brain-dead-simple secure, liquid, high-volume, low-volatility currency and financial system and conclude that it's fundamentally non-viable. That's just unfair, myopic, opportunistic, and a little nuts to me. But Clifford Stoll would probably approve: http://www.newsweek.com/clifford-stoll-why-web-wont-be-nirvana-185306No problem, Mel. I agree with you about the potential for Bitcoin. In a perfect world, it would be the only currency that makes sense. However, it simply cannot survive the onslaught of scammers, ignorant users, online security issues, and bad publicity currently prevalent. 2015 is already starting off worse than 2014. Combine the fact that there's still a few hundred thousand BTC waiting to be dumped, the Silk Road trial (which will bring negative light to the industry during it's entire run), infighting amongst developers, disagreement within the foundation, and a community literally overrun with fraud - and nothing looks positive. There's also the fact that it now costs much more to mine a Bitcoin than it's worth, and those mining companies who make up the bulk of the network hash rate are now being pressured to dump every coin they mint. They have USD backed loans that need to be paid. We are not in a good spot, at all. Though I completely understand the perspective that Melbustus is coming from, I hate to say it but I am siding with Rawted on this one. Will bitcoin recover? Who knows, but one thing I do believe regardless is that decentralized crypto currencies will be the norm at some point in the future...was just really hoping it might take place during my lifetime and who knows, perhaps it still will. |
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617
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Bitcoin / Press / Re: [2015-01-08] Gold Dealer Amagi Metals Now Pays All Staff in Bitcoin
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on: January 13, 2015, 10:03:56 PM
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And right now, THEY AREN'T ACCEPTING CRYPTO PAYMENTS although they won't tell you that until you're about to check out. You'll be forced to use PayPal or a wire transfer. Their official position on this, is that they'll have more info at the end of the week. As a loyal Amagi customer who got duped into a sale order and then either had to use PayPal or cancel, I'm not pleased.
Wow, seriously? I was just thinking about shooting my few remaining satoshi's over to them to pick up a couple more silver coins but that is discouraging news. Really doubt any Amagi employees are holding a very significant portion of their wages in BTC given current trend :/ |
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619
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Economy / Economics / Re: BTC at $240
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on: January 13, 2015, 09:29:32 PM
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Actually touched $216 on Bitstamp just a little while ago. Looks like we are definitely heading for the sub-$200 range.
Oh yeah, sad one the one hand but one helluva learning experience thats for sure.
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620
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Bitcoin / Hardware / Re: Longest running Antminer
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on: January 13, 2015, 09:19:21 PM
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My 3x S1's have been running since April/May timeline. Looking into either undervolting them or shutting the down until BTC difficulty drops significantly. If it doesn't end up dropping low enough I'll be disconnecting them and putting them on a shelf next to my now hella dusty BFL equipment :/
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