discuss The bitcoin thread

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Updated: The Bitcoin crash is over...Here comes 2014!!


The rise and fall of the bitcoin.... The price of bitcoin is plummeting as i write this.
 
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The views expressed on this page by users and staff are their own, not those of NamePros.
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yes its an online payment structure. It is centralised and connected to your bank account, nothing like bitcoin
 
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yes but it fills in the gaps the regular system currently doesn't have. the only thing it woun't do is give you 100% anonymity

pushing funds to an account (so there are no charge backs)
account to account with a centralised system to track (avoids stealing and fraud)
very little transaction fee's
 
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Would you trust JP Morgan with your money, you transactions, etc?
They are doing this, not for us, but for themselves!
They are looking, just like they did prior to the real estate bubble burst, at the fees they can make from start to finish.
They will set the prices and thus you could be wiped out just like that, just because JP Morgan wants more money!
 
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Looks like were back in the early 1990's when people said domains were worthless.That they have no long term use,Then came the domain hacks,then came the bubble,the bust and then people like Frank Schilling and such making a fortune hoarding domains as they had foresight when others disregarded and went on to their usual business while the few made millions..Not until major business saw the potential to harvest domains for industry use did everyone then jump on the band wagon..Boy would we love to go back in time eh?
Yet we sit and wonder how could we miss such an opportunity? Well because such opportunities are so obvious we totally miss them..
Bitcoin is such an opportunity..Internet changed the world..Yet old school economics still drag failing to catch up..This is where the "Wild West is back" It will take some time to regulate but in the end 10 years from now others will say the same thing about crypto currency as we are about the domain game.:tu:
 
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I agree the cryptocurrency is here to stay - just not 100% sure it will be bitcoins.
 
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Hi,
Bitcoin is NOT banned in China. Howeer ATM the goverment said that banks can not forward money to exchanges, same for 3rd parties like okpay. It does make it harder to get money to an exchange, but Bitcoin is not banned, you can trade bitcoin 100% legal, and merchants can accept it. That´s it. Yes the market is totaly bonkers but really did you expect anything else?

I was just quoting the article - I am on the fence with bitcoins - just reporting what I see. Its like a nano-soapopera.

China wont let third party payment providers work with bitcoins - this will make it very difficult for people (in China) to get real money in and out of bitcoins.

http://www.forbes.com/sites/kashmir...-crashes-as-china-cracks-down-further-on-use/
 
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I think BTC will bounce back. But maybe not now. Back to $1000 soon? I am not sure. Maybe to 700-800.
 
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not sure, it did go down to $480
 
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It's 337 on BTCChina now.
 
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100% anonymity
Never ever ever with a centralised bank based pseudo cryptocurreny.

The whole reason bitcoin and other cryptos have value is the network , the decentral network. NOT because of a regualted bank, but because of a self regulating network. These 2 things just dont mix -bank&crypto-.

Looks like the biggest exchange in China BTCChina has stopped all deposits in Yuan, meanwhile Dennmark says that compaines are free to set up exchanges with fiat and crypto 100% legal ,they will not over regulate .. so far.

Today we are still above "pre china" bitcoin price levels, big question marks about the future of bitcoin in India and South America both of which have not really adapted yet.

Crypto coins are opensource, if you can compile code then you can make a clone coin, anyone interested in making a clone coin for fun? Maybe Shoottheshit coin or domainercoin ?
 
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Just name your coin, but it seems that almost all coins are declining...

Yes blood on the streets. It has happened before ,good entry point if you have benn on the fence.
It's 337 on BTCChina now.
Today 10:05 AM
urlurl not sure, it did go down to $480

yup thats why people could have put in a nice limit order and gotten cheap btc. However more important is the day close price and not how long the wick of the candle is. I predict 550$ but I am still unsure could go either way.
In the past media exposure like this has led to massive ammounts of people adapting to BTC.
China wont let third party payment providers work with bitcoins - this will make it very difficult for people (in China) to get real money in and out of bitcoins.
"real" money is often refered to as Fiat since it has NO real backing.
There is a gigantic demand for being able to get funds OUT of china since this is very regulated. The yuan is regulated and currency in and out is strongly regulated. That is why bitcoin was really attractive to some in China. Its only a matter of finding a work around.
 
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other than bitcoin and litecoin, what is the next best contender, and why?
 
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Well there are coins that have inovations in security and speed for better transactions and other that might have that but also do something else besides being a currency. There are also others that were "premined" or "defacto premined" this means that there was not a real effort to tell people that the coin exsits, then suddenly it appears but lets say one million were mined already with little effort "scamcoins".
I will just make a short list of some of the more interesting ones:
Namecoin NMC- bitcoin clone but the network allows the creation and management of .bit domains, these are not under ICANN so no censorship, you also need software to view .bit domains.
Peercoin PPC- uses "POW" proof of work as a way to tell whoand how much was mined, hey I havent had time to really fully grasp the whole POW thing, but it is somehow cool heavy math.
Primecoin- Different algo as litecoin and bitcoin, only CPU mining (so far). also uses "POW" and mining does something "usefull" it creates really really long prime numbers. On the one had that -could- be useful, on the other hand atm there is no clear use. So a mix of currency and primenumber generation. Faster transactions than bitcoin (litecoin is also faster)
Quark- only CPU mining, werid changing algo, secure, funny name, atm kind of hyped. Problem was a debated defacto premine.
Securecoin- simmilar to Quark, main feature is security , lesser known
Also check Annoncoin,Digitalcoin,Fastcoin(im still not 100% about this one but cool concept)
Avoid due to scammy developers, premine ect: Novacoin,Terracoin, Luckycoin,Solidcoin,Goldcoin (sorry Microguy) and many more.

With security the features include ways to stop a so called "51% attack" , preventing "double spends" and/or making the transactions more annon.
 
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if litecoin will have twice as much coins as bit coin - is it safe to say it should reach 1/2 the value of bit coin once it becomes more popular
 
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So how many of you are buying now at $337?
 
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back up to $700 range - wow this is a day traders dream investment

the major swings are spectacular to watch
 
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if litecoin will have twice as much coins as bit coin - is it safe to say it should reach 1/2 the value of bit coin once it becomes more popular
hard to say, I would not caculate it like that though. Really depends on if it starts being used more. Coinpayments.net allows people to accept a lot of coins on their website. It is not hard to use. If systems like that grow and people start using "alt" coins more than there is potential.

So how many of you are buying now at $337?
If you were lucky enough to have fiat at an exchange the second it was at 337$ or you had fiat and a limit order at an echange then you might have been able to pull that off. I dont think it stayed at 337$ long and when there are these crashes and panic buy/sells then sometimes the exchanges cant handle the traffic and you get 502, once I got a 502 and refreshed and the price had gone up over 100$ in 10 seconds.

back up to $700 range - wow this is a day traders dream investment

the major swings are spectacular to watch

Yea you are right they are crazy to watch. I do no recommend people try to "day trade" , a least not without a bot , and even then with extreme swings like that you are bound to really lose a lot of coins. If the course is more "stable" and just swinging along a bit more gently then it is possible to make small profits trading, but in intense times like this its just a big gamble , imho
 
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Ava fx to make available the LTC-Litecoin on their forex trading platform starting in January. PM if interested in trading on the market.
http://tinypic.com/view.php?pic=1zlvvkp&s=5#.UrNdeP-A271

Also

nmc will be added to gox soon, and the prices will skyrocket to probably 15 or 20$, here is the proof: http://data.mtgox.com/api/2/NMCUSD/money/ticker

---------- Post added at 01:02 PM ---------- Previous post was at 01:00 PM ----------

So how many of you are buying now at $337?

Bought in close to here, also bought namecoin (NMC) and PPC

---------- Post added at 01:06 PM ---------- Previous post was at 01:02 PM ----------

Yea you are right they are crazy to watch. I do no recommend people try to "day trade" , a least not without a bot , and even then with extreme swings like that you are bound to really lose a lot of coins. If the course is more "stable" and just swinging along a bit more gently then it is possible to make small profits trading, but in intense times like this its just a big gamble , imho

tried the daytrading side of things and was good, but also was bad. Is great if you have the fiat available in your acct to cover the large swings. The change in pips can be enough to eat up all your equity. I do suggest if you are daytrading only use about 20% of the balance in your acct to buy in



ALSO

Ava has introduced "Bitcoin Minin" to their trading platform, you can buy minimum of 0.1btc to trade at a time. Great way to not spend too much money...
 
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