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More like something more fishy.
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On December 18 2013 03:46 Shival wrote:More like something more fishy.
I think you missed the joke.
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Pandemona
Charlie Sheens House51493 Posts
I use middlecoin and i think i mined some of those in my last quarter lol i had a huge payout in BTC last night. Like 0.010 or something
xD
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United States43558 Posts
On December 12 2013 05:27 3772 wrote:Show nested quote +On December 12 2013 03:45 c0ldfusion wrote:On December 11 2013 07:28 Jormundr wrote:On December 11 2013 06:12 Gorsameth wrote:On December 11 2013 06:08 radscorpion9 wrote:Did you guys hear about the new assassination market that's forming recently? I heard it on the radio this morning and found a link on Forbes: Crowdfunding murder with bitcoinsApparently its run by a crypto-anarchist who wants to destroy "all governments, everywhere" by providing a platform for would-be hitmen to prove their mettle and collect bounties (they have to provide proof they did it somehow). So far Ben Bernanke has the highest bounty; as of the date that the forbes article was published, using the exchange rate from bitcoins to dollars, its at $75,000; which is still small but not insignificant. I thought I'd share an interesting quote on how this man thinks: I believe it will change the world for the better," writes Sanjuro, "thanks to this system, a world without wars, dragnet panopticon-style surveillance, nuclear weapons, armies, repression, money manipulation, and limits to trade is firmly within our grasp for but a few bitcoins per person. I also believe that as soon as a few politicans get offed and they realize they've lost the war on privacy, the killings can stop and we can transition to a phase of peace, privacy, and laissez-faire. Dark but interesting times! Meh just a troll. You would realize how wrong you were if you had ever been on the silk road. In most major cities heads rolled for between $5-10,000. That's just media hype right? Any proof of assassinations actually completed? Anonymous individual paid in currency with irreversible transactions to kill people. What's the incentive, when he can disappear with the money just as easily?
You didn't read it, he collects payment after their death. I guess you could just fake your own death for the money or something but otherwise no way of scamming it.
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Pandemona
Charlie Sheens House51493 Posts
Ok shit, BTC huge crash. China officially banned all internet currency aimed at BTC. They pretty much said you cannot exchange Chinese money for BTC anymore.
With that BOOM crash again. 1 BTC = $451
Reddit BitCoin - Suicide Line
Pretty much sums it up if you have invested a lot into BTC
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Can't say I didn't warn anyone.
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no problem. been here and done that. lets keep on keepin on.
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On December 18 2013 20:44 Pandemona wrote:Hasn't crashed to that low from $1100 before though Chrono  even im worried now. It is not even that it is because the value has dropped, it is because it starts to get to the point where it isn't worth mining anymore. The electricity bill and hardware usage over the money you get in return starts to dwindle to marginal profits which aren't worth it. In 3 weeks of a pool me and my friends have 0.113 BTC couple of weeks ago were looking at $111 now we are looking at $50 under half and not worth the effort we put into farming them. We would of all increased our electric bills by $10-15 lol
i cant talk about mining all to much. i know i nearly went down that path but decided against it (luckily). mining has turned in to a specialized field. it is extremely hard for anyone to get in unless they have a lot of capital to sink in to ASIC rigs.
its not dissimilar to traditional mining. u used to be able to pan gold in a river but now u need millions and millions of dollars to extract gold.
this price drop is bad but april was way worse. not only was bitcoin not talked about back then nearly as much as now but mtgox experienced many ddos and lots of lag. pretty much frozz the exchange for what felt like the whole day. people quickly spread FUD (fear uncertainty and doubt) and naturally people sold.
this times its a little different because at least people somewhat know what bitcoin is. also there is a way more infrastructure now.
china is only one country and there was lots of FUD spread about this topic. many people want the price to fall so they can jump in again. and many people want it to fall because they sold on the way up and they want to buy back in at cheaper prices again.
also many people want bitcoin to fail because they want to be right. but the biggest problem is people want it to fail so they can control you.
just hold on to the bitcoin. we will see 1000 again.
to who knows when.
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On December 18 2013 20:44 Pandemona wrote:Hasn't crashed to that low from $1100 before though Chrono even im worried now.
Was 431$ hour or two ago, now back to 527$. It'll climb up.
e. 545$... using this site
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Don't invest what you can't afford to lose. Especially if you are in it for the short run and you are gambling on volatile stuff like bitcoins.
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On December 18 2013 21:24 Grettin wrote:Show nested quote +On December 18 2013 20:44 Pandemona wrote:Hasn't crashed to that low from $1100 before though Chrono even im worried now. Was 431$ hour or two ago, now back to 527$. It'll climb up. e. 545$... using this site
It bounced on the low of november 20th, but still in a downwards trend overall. Could very likely see it test the low again.
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Pandemona
Charlie Sheens House51493 Posts
Ahh fair enough.
I found it pretty funny that Mr Winklevoss yesterday or day before that only took to reddit to say that he expects BTC to eventually be woth $40k! lol
Source
The Winklevoss twins have both been very vocal in their support of bitcoin, which is understandable – given the fact they missed the opportunity to cash in on tech giant Facebook.
The brothers are avid bitcoin advocates, and big investors – with an estimated $35m worth of bitcoin between them.
Over the weekend, Cameron Winklevoss discussed the future of bitcoin on reddit, making a few interesting announcements and predictions.
Cameron’s ‘conservative’ valuation estimate sounds anything but – he believes each bitcoin will pass $40,000, roughly 40 times what a bitcoin is worth today.
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On December 18 2013 22:05 Pandemona wrote:Ahh fair enough. I found it pretty funny that Mr Winklevoss yesterday or day before that only took to reddit to say that he expects BTC to eventually be woth $40k! lol SourceShow nested quote +The Winklevoss twins have both been very vocal in their support of bitcoin, which is understandable – given the fact they missed the opportunity to cash in on tech giant Facebook.
The brothers are avid bitcoin advocates, and big investors – with an estimated $35m worth of bitcoin between them.
Over the weekend, Cameron Winklevoss discussed the future of bitcoin on reddit, making a few interesting announcements and predictions.
Cameron’s ‘conservative’ valuation estimate sounds anything but – he believes each bitcoin will pass $40,000, roughly 40 times what a bitcoin is worth today.
He needs to be positive so others believe him and he can cash out :D
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Pandemona
Charlie Sheens House51493 Posts
I think he wants them to be worth $40k so he can then cash out and go "Hey Zuckerberg, fuck you" xD
Happy Birthday Chrono, Mr BTC man :D
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doubt they will cash out. no point cashing out when the eco system is up.
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There's a good chance it'll come back up but I can imagine that some of the kids who know nothing about investing and own bitcoins that they bought for $800 after everyone was talking about how amazing a price it was, they must be starting to be nervous right about now.
Then again, maybe not... It's funny. Optimism breeds optimism and makes people irrational to some extent. Them little analysts know all there is to know about cryptocurrency just like economists know what's up. Derrr.
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If it drops 300, will it be a good time to buy in? How low would you guys think it go before it climbs back up again?
EDIT: We're going up. My dreams of one day buying a BTS is down the drain.
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Guys, China essentially banning bitcoin means that there won't be a surge like this for quite sometime (maybe, just maybe it catches on in India and creates a similar wave, but that is unlikely to happen for a number of cultural reasons I think), and frankly this kind of growth rate was ridiculous to begin with. I'd rather see the btc grow 50-75% a year from now on than have it lose all serious support from governments because of its volatility.
You don't need to buy a whole bitcoin, invest any amount you would feel safe losing. That way you can still cash in when it becomes the currency. It is much more important to be clear with your goals with any kind of investment than just trying to find an opening to jump on a bandwagon and "see what happens". This is another facet of bitcoin which is new I think. It shows that young, tech savvy people who made a good move some time ago now have to face the stress of juggling thousand of dollars worth of fortune and make sensible decision without being overly greedy. This is incredibily hard, I've been working for the past 5 years not being able to save a ton and really had to concentrate to keep it cool when one weeks pay of investment in btc started to swell into something much much bigger.
If you look at this rollercoaster on a larger scale, the price is still the same as it was late November, and more than double compared to the end of October so I'm completely fine with it  .
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I'm really not concerned with the immediate price of bitcoin. I think anytime in the last few days (especially now) was a good time to buy in the long run. Yes, China is causing problems, but the demand will rise again when more people in other countries realize how important Bitcoin is. Bitcoin is not going anywhere, don't forget that. It just may become increasingly difficult to trade for fiat money.
There are lots of companies investing in Bitcoin and Bitcoin technology right now, more than ever. In my opinion, this is the real Bitcoin boom. This is the first step in legitimizing cryptocurrency, a very exciting time to live in. Don't fret over these fluctuations in price, It will be worth a lot more than $1000 sooner than most people think.
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EPT
