News

[ingrownpocket]

https://www.google.com/search?tbm=nws&q=bitcoin

Many major newspapers/blogs hit Bitcoin in the last week.
Amazing 

[empoweoqwj]

So when is this going to push the price up? 

[knight22]

So when is this going to push the price up? 

IMO it takes approx a month between the time poeple know about bitcoin and when they start buying them.

[the founder]

So when is this going to push the price up? 

IMO it takes approx a month between the time poeple know about bitcoin and when they start buying them.

It takes a month because it's still VERY hard to buy bitcoins,  verfying bank accounts, running from place to place to make cash deposits,  etc etc.

I've heard more people quit because the process is hard than you would believe.

[jag2k2]

I heard about them on Saturday and decided I'm all in on Sunday.  I had no idea the feeding frenzy that was going on while I was researching bitcoins and the price has doubled.

I heard about the troubles people are having with bitinstant and decided to do a wire transfer from my bank.  This waiting is EXCRUCIATING

[pheaonix]

i think this guy was paid by how many times he used the terms "bubble" and "bitcoin".


http://www.forbes.com/sites/timworstall/2013/04/10/if-bitcoin-walks-like-a-bubble-and-quacks-like-a-bubble-not-that-it-matters-either-way/

[Haole]

There's a new article coming out like every hour!

Which is all the more damage that will be done to Bitcoin in general when more and more people keep hearing about this amazing new currency and then find-out how hard it is to actually get involved.  Then they write it off and spread their experience by word of mouth.  My sister, who is somewhat tech savvy and was told about BTC a couple of months ago, has long given-up because it's too confusing and too inconvenient to buy BTC.

The "system" essentially grinding to a halt today just because of thousands of BTC being traded is not good and it will be the exchanges and processors themselves who could kill Bitcoin dead unless they get their acts together and ensure solid service regardless of stress on the "system".   If people can't trade efficiently and reliably no matter how many people are at it at any given time, Bitcoin will die.

Today has been a real education into the mega-ultra-beta status of the entire Bitcoin infrastructure and "idea" and I am worried for the future of my BTC and that of Bitcoin in general now.

[nrgBitmagic]

And I thought the entry hurdles were high when I started buying precious metals 8 years ago. But, that was *nothing*. I have never felt so stupid, afraid, jacked-around and all over sick just trying to give my money to someone to buy something, ever. I thought this is what all the *smart* people are doing. I guess the bitcoin world is running out of smarts.

[Elwar]

And I thought the entry hurdles were high when I started buying precious metals 8 years ago. But, that was *nothing*. I have never felt so stupid, afraid, jacked-around and all over sick just trying to give my money to someone to buy something, ever. I thought this is what all the *smart* people are doing. I guess the bitcoin world is running out of smarts.

That is why the price is still so low.

The average person is not going to put their money into it until it is super easy.

[Haole]

And I thought the entry hurdles were high when I started buying precious metals 8 years ago. But, that was *nothing*. I have never felt so stupid, afraid, jacked-around and all over sick just trying to give my money to someone to buy something, ever. I thought this is what all the *smart* people are doing. I guess the bitcoin world is running out of smarts.

That is why the price is still so low.

The average person is not going to put their money into it until it is super easy.

Much of the value of Bitcoin itself is in the network and people's trust that exchanges, payment processors, etc. actually work efficiently and reliably.

Bitcoin just proved to me today that it is worth absolutely nothing given what happened and is still happening. 

I'm amazed at the fragility and incompetence that underpins Bitcoin, today has been an eye-opener and I won't mention this cocked-up excuse for a currency to anyone unless all the exchanges, processors, etc. pull their collective heads out of their fundaments.

[marcus_of_augustus]

And I thought the entry hurdles were high when I started buying precious metals 8 years ago. But, that was *nothing*. I have never felt so stupid, afraid, jacked-around and all over sick just trying to give my money to someone to buy something, ever. I thought this is what all the *smart* people are doing. I guess the bitcoin world is running out of smarts.

Put some trust in your fellow men

https://localbitcoins.com/

you might meet someone interesting too.

[nrgBitmagic]

And I thought the entry hurdles were high when I started buying precious metals 8 years ago. But, that was *nothing*. I have never felt so stupid, afraid, jacked-around and all over sick just trying to give my money to someone to buy something, ever. I thought this is what all the *smart* people are doing. I guess the bitcoin world is running out of smarts.

Put some trust in your fellow men

https://localbitcoins.com/

you might meet someone interesting too.

Uh, hello...this is where most of the flaking is taking place. I thought I could get around the bs in the whole money exchange/delay/verification/fees nightmare by dealing with someone local who was just us folks. But, nnnnoooooo. When the price started going up, you have never seen such a flaky, unresponsive, deal cancelling, price gouging bunch of dollar-signs-in-their-eyes amateurs, ever. I would laugh if I didn't feel so insulted. I have the email threads and cancelled deals to prove it.

A bunch of geeks with new money, watchout! Guess I'll go back to coinbase, the week delay is doable if I actually get coins at the end.

[FreddyFender]

And I thought the entry hurdles were high when I started buying precious metals 8 years ago. But, that was *nothing*. I have never felt so stupid, afraid, jacked-around and all over sick just trying to give my money to someone to buy something, ever. I thought this is what all the *smart* people are doing. I guess the bitcoin world is running out of smarts.

Put some trust in your fellow men

https://localbitcoins.com/

you might meet someone interesting too.

Uh, hello...this is where most of the flaking is taking place. I thought I could get around the bs in the whole money exchange/delay/verification/fees nightmare by dealing with someone local who was just us folks. But, nnnnoooooo. When the price started going up, you have never seen such a flaky, unresponsive, deal cancelling, price gouging bunch of dollar-signs-in-their-eyes amateurs, ever. I would laugh if I didn't feel so insulted. I have the email threads and cancelled deals to prove it.

A bunch of geeks with new money, watchout! Guess I'll go back to coinbase, the week delay is doable if I actually get coins at the end.

Everyone in my locale has bailed, I'm the only btc nut for 300 miles in all directions! ommfff!

[nrgBitmagic]

And I thought the entry hurdles were high when I started buying precious metals 8 years ago. But, that was *nothing*. I have never felt so stupid, afraid, jacked-around and all over sick just trying to give my money to someone to buy something, ever. I thought this is what all the *smart* people are doing. I guess the bitcoin world is running out of smarts.

Put some trust in your fellow men

https://localbitcoins.com/

you might meet someone interesting too.

Uh, hello...this is where most of the flaking is taking place. I thought I could get around the bs in the whole money exchange/delay/verification/fees nightmare by dealing with someone local who was just us folks. But, nnnnoooooo. When the price started going up, you have never seen such a flaky, unresponsive, deal cancelling, price gouging bunch of dollar-signs-in-their-eyes amateurs, ever. I would laugh if I didn't feel so insulted. I have the email threads and cancelled deals to prove it.

A bunch of geeks with new money, watchout! Guess I'll go back to coinbase, the week delay is doable if I actually get coins at the end.

Everyone in my locale has bailed, I'm the only btc nut for 300 miles in all directions! ommfff!

I expected so much more from the Silicon Valley Digiteratti!

[marcus_of_augustus]

And I thought the entry hurdles were high when I started buying precious metals 8 years ago. But, that was *nothing*. I have never felt so stupid, afraid, jacked-around and all over sick just trying to give my money to someone to buy something, ever. I thought this is what all the *smart* people are doing. I guess the bitcoin world is running out of smarts.

Put some trust in your fellow men

https://localbitcoins.com/

you might meet someone interesting too.

Uh, hello...this is where most of the flaking is taking place. I thought I could get around the bs in the whole money exchange/delay/verification/fees nightmare by dealing with someone local who was just us folks. But, nnnnoooooo. When the price started going up, you have never seen such a flaky, unresponsive, deal cancelling, price gouging bunch of dollar-signs-in-their-eyes amateurs, ever. I would laugh if I didn't feel so insulted. I have the email threads and cancelled deals to prove it.

A bunch of geeks with new money, watchout! Guess I'll go back to coinbase, the week delay is doable if I actually get coins at the end.

Everyone in my locale has bailed, I'm the only btc nut for 300 miles in all directions! ommfff!

I expected so much more from the Silicon Valley Digiteratti!

Ouch, that's sounds like a nightmare ... I guess bitcoin has changed from the good ole days now that the sharks have entered the pool.

[justusranvier]

I used to sell on Localbitcoins, but I got fed up with flaky buyers who would initiate an order then string me along for a few days without settling on a time to meet up for the sale. The exchange rate is too volatile right now to lock in a price before working out details of where and when to meet to make the exchange, and I'm not going to go to the trouble of selling in person if it means that I am selling below market value. I'd do more of those sales if they would change their algorithm to lock in the formula when the buyer decides to purchase and only finalizes the exchange rate when I actually send the SMS code to release the coins.

[nrgBitmagic]

I used to sell on Localbitcoins, but I got fed up with flaky buyers who would initiate an order then string me along for a few days without settling on a time to meet up for the sale. The exchange rate is too volatile right now to lock in a price before working out details of where and when to meet to make the exchange, and I'm not going to go to the trouble of selling in person if it means that I am selling below market value. I'd do more of those sales if they would change their algorithm to lock in the formula when the buyer decides to purchase and only finalizes the exchange rate when I actually send the SMS code to release the coins.

Yes, that's what was happening to me, except in reverse. I was hoping that in this "trusted network of peers", the seller would be more assertive about communicating that to me and qualifying the purchase based on actual market price at time of sell, even if that meant we would have to cancel the initial deal and re-do it at that time. But, that would require them to hit the reply button and engage with me to negotiate terms and determine my seriousness as a buyer, if that is an issue for them.

But, instead I got crickets for a day or two and then an email that they were sold out, like with 4 people in a row.