discuss The bitcoin thread

[JudgeMind]

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.

 

[urlurl]

im not sure how safe this currency is - now that the value has surpassed 1,000 it opens it up to a new way to get btc... steal them!

just read a brief article about the sheep market place and $44 million worth of btc gone

 

[Weber]

I can't believe pro stock traders would touch this,
It doesn't have the fed-ease bubble-rally guarantee.

 

[Theo Goodman]

"im not sure how safe this currency is"

That whole story has nothing to do with bitcoin -itself- . Things like that happen daily with "normal" fiat money and nobody blinks. The safety you are talking about has to do with using your brain. It is true that with bitcoin since there is no central authority you have to use your brain a little more when storing and securing your coins.

 

[Rado_Ch]

I can't believe pro stock traders would touch this,
It doesn't have the fed-ease bubble-rally guarantee.

Why shouldn't they? They don't need the bubble guarantee simply because its all a matter of entering and exiting the market at the right time. Pro brokers can read the chart and a broader look on how it was going in the last couple of months can help predict when the "big drop" is expected

 

[Compassion]

Richard Branson loves Bitcoin...

http://www.latimes.com/business/mon...itcoin-20131125,0,3879223.story#axzz2mR7r1KhN

http://www.cnbc.com/id/101220710

 

[Theo Goodman]

"the bitcoin crash" is now nearly back to the pre-"crash" price or higher.
http://www.cryptocoincharts.info/pe...ays&resolution=hour&pair=btc-usd&market=mtgox

 

[4pm]

"the bitcoin crash" is now nearly back to the pre-"crash" price or higher.
http://www.cryptocoincharts.info/pe...ays&resolution=hour&pair=btc-usd&market=mtgox

nice.. is it shortable?



*

 

[mhdoc]

nice.. is it shortable?



*

Old investment saying "The market can stay irrational longer than you can stay solvent." BusinessInsider.com has an article up about Kyle Bass loosing several hundred thousand early in his career when a stock he shorted went straight up

 

[Theo Goodman]

YES you can short bitcoin with a bitcoin CFD.

 

[urlurl]

yes and then he immediately converts it into cash, lol

there are not a lot people who can afford a ticket into space... but with all these new bitcoin millionaires over night just create a new source of possible customers, smart idea

---------- Post added at 04:07 PM ---------- Previous post was at 04:05 PM ----------

can someone give me 100 bitcoins please

 

[Weber]

Why shouldn't they? They don't need the bubble guarantee simply because its all a matter of entering and exiting the market at the right time. Pro brokers can read the chart and a broader look on how it was going in the last couple of months can help predict when the "big drop" is expected

Charts don't work as well when the markets are manipulated. By the way, in a market void of an entity like the fed reserve running interference for it, "the chart" suggests, imho, to be very cautious here. If 1250 can not be broken to the upside, run for cover.

 

[Theo Goodman]

"If 1250 can not be broken to the upside, run for cover. "

is this based on your chart analysis?

https://www.namepros.com/attachment.php?attachmentid=20814&stc=1&d=1386114676

 

[Theo Goodman]

woops doublepost

 

[bobbyj]

I don't know everyone... I have been watching since it's first peak at 200 and I was rushing to start mining, (which I never did, *grumble)... But, one reason the USD is not as good as the EURO is b/c the Euro comes in 200 Euro Bills which makes it easier to store and for drug dealers to transfer more money. How easy is it to transfer a wallet now across boarders?

Also, Swiss banks were the place you could hide money, but the veil has been pierced there. My question is, where do the Billions of dollars in illegally held funds, be it by individuals or by the CIA, get stored right now. There is a need for the currency, that is why we have it.

For every Silk Road there will be 100s of copycats all ready for the transfer of the Bitcoin. I think the big money play is to be the Paypal or Escrow service for Bitcoins... Preferably with their their home office in Sweeden.

I'm sad I missed out on my millions from mining, but I do not think we have seen the last of Bitcoin at all... Remember that the current currency system is not actually regulated by a central authority, but individual governments can regulate and manipulate their own currency... ask the Japanese.

Lastly, during the last physical gold rush here in the US; it was the people who sold the shovels made the most money.

Cheers!

 

[tradingdavid]

Nothing unusual here - it was ludicrous for a virtual currency with no financial back to rise to the price of gold. If you follow the market a little and know about the most famous "bubble" plummets in history, you would have seen absolutely the same pattern with BitCoins. Sure, now it started to rise again but that's no surprise either - just the natural way the market moves. Now it should rise a little more, but not to its previous levels.

There are only 20 million possible bitcoins supposedly. To compare to the price of gold you need to compare the price of bitcoins/number of bitcoin and gold oz/number of gold onces. (which I think is like 10 billion)

 

[forge]

this thread has developed a life of its own... kind of like bitcoins on crack... head for the hills!

Very interesting. Like a lot of you here are saying... proceed with caution is a good mantra.

 

[Deaol]

Over the weekend I was able to Sell @ $1100 on LBC (localbitcoin) buy back at $710 on BTC-E and now they are back around the $900 mark or so. Easiest money i have ever made in my life.

 

[Theo Goodman]

Over the weekend I was able to Sell @ $1100 on LBC (localbitcoin) buy back at $710 on BTC-E and now they are back around the $900 mark or so. Easiest money i have ever made in my life.

but I thought bitcoin was so inconvenient to deal with and hard to turn into fiat?!:D
-
How did you get your fiat to btc-e so fast?! Personaly I think BTC-E is pertty shady. Whomever is running that thing is trying to hide and making a lot of effort to do so. I wouldnt store any funds there for a long period of time, imho.

 

[GravityEleven]

http://www.coindesk.com/btc-e-exchange-banking-issues/

not sure how long BTC-E will still exist..

 

[Theo Goodman]

yea there are countless posts about btc-e on bitcointalk. Some of the complaints could be bogus but just put 1+1 together and you should really think about if or how much business you do there. They also have hacking "warnings" on there site. A lot of sites get "hacked" and then the coins are away in the wind of the blockchains.