Bitcoin - Peer to Peer currency

[againsthegrain]

Re: Bitcoins - Peer to Peer currency

Bitcoins have quadrippled in value over the last few months, not sure if its because of all the recent media reports on silk road which only operates on bitcoins as a payment medium or perhaps the russian hacker who unlocked iphone4 free applications and acception donations by bitcoins. But with a locked market cap of bitcoins out there this has caught my eye and becoming a very interesting gamble.

Anybody else here been following bitcoins?

 

[Joules MM1]

Re: Bitcoins - Peer to Peer currency

Bitcoins have quadrippled in value over the last few months, not sure if its because of all the recent media reports on silk road which only operates on bitcoins as a payment medium or perhaps the russian hacker who unlocked iphone4 free applications and acception donations by bitcoins. But with a locked market cap of bitcoins out there this has caught my eye and becoming a very interesting gamble.

Anybody else here been following bitcoins?

liquidity that was in that alternative metal, yellow thingy, awash around bitcoin.......and it'll leave just as quickly if not quicker

 

[prawn_86]

Re: Bitcoins - Peer to Peer currency

I was looking for this thread a few eeks ago but couldn't find it

I threw a few hundred dollars at bitcoins when they were about $4, wish i had put more in, but it was just for laughs more than anything to find out how it works. Turned out to be an OK investment

 

[So_Cynical]

Re: Bitcoins - Peer to Peer currency

I spent a few hours on the BC forum a few weeks ago after an absence of many months and was amazed to see the place is still going strong, bigger and bolder than before...the BC stock exchange has 100s of listings, mostly bonds to finance BC mining set-ups...the BC world is still very isolated and still full of opportunity with millions being made.

The BC in circulation had a USD value of over 200 million a couple of weeks ago...perhaps twice that now.

Its a brave new world that's now (i think) approaching its 2nd anniversary...or maybe its passed already.

 

[disarray]

Re: Bitcoins - Peer to Peer currency

bitcoins are a new paradigm. people will always need a medium of exchange, and here is one that is out of reach of government, banks, or "the system". as the world virtualizes, this is the first virtual currency. all the blathering about "the cloud" is just the beginning. this is snowcrash territory.

liquidity that was in that alternative metal, yellow thingy, awash around bitcoin.......and it'll leave just as quickly if not quicker

promiscuous money will come and go. it doesn't change the concept.

 

[againsthegrain]

Re: Bitcoins - Peer to Peer currency

Been playing the dips for a bit of fun and doing allright. Just struck me when doing my tax return that this is a bit of a grey area and no way really for the ato to enforce paying cgt on profits, since this is a annonymous currency.

 

[DB008]

Re: Bitcoins - Peer to Peer currency

not sure if its because of all the recent media reports on silk road which only operates on bitcoins as a payment medium

Yes, it seems that silk-road has been gaining in popularity and has hit the usual main media recently.

 

[prawn_86]

Re: Bitcoins - Peer to Peer currency

Yes, it seems that silk-road has been gaining in popularity and has hit the usual main media recently.

Vendors must be loving the free media promotion

 

[againsthegrain]

Re: Bitcoins - Peer to Peer currency

I saw a few adds on silkroad thanking current affair for the promotions and business is booming lol

 

[prawn_86]

Re: Bitcoins - Peer to Peer currency

Up to near $15, they have now gone up nearly 500% since i bought some

As always looking in hindsight, should have bought more

 

[Some Dude]

Re: Bitcoins - Peer to Peer currency

Is anyone here still mining them?

 

[So_Cynical]

Re: Bitcoins - Peer to Peer currency

Is anyone here still mining them?

I didn't think anyone here (ASF) was ever mining.

Mining requires a substantial set-up, in the time i have been following BC mining has moved from CPU to GPU to multiple GPU's to the current multiple GPU share farming set-up.

 

[Some Dude]

Re: Bitcoins - Peer to Peer currency

I didn't think anyone here (ASF) was ever mining.

Mining requires a substantial set-up, in the time i have been following BC mining has moved from CPU to GPU to multiple GPU's to the current multiple GPU share farming set-up.

I was pool mining utilising my home network before the price collapsed and made it marginal for profitability. I have been considering powering it back up.

 

[againsthegrain]

Re: Bitcoins - Peer to Peer currency

Suprised they are still going up strong, went up 100% since I took interest but curious does anybody know what is behind the sudden move?

 

[prawn_86]

Re: Bitcoins - Peer to Peer currency

Suprised they are still going up strong, went up 100% since I took interest but curious does anybody know what is behind the sudden move?

haha i just checked the price then because of your comment. I have no idea why the move, but it makes it a ten bagger for me

 

[ROE]

Re: Bitcoins - Peer to Peer currency

didnt know people in ASF into it ..I read this a while ago...interesting read

http://www.wired.com/magazine/2011/11/mf_bitcoin/all/

 

[prawn_86]

Re: Bitcoins - Peer to Peer currency

What is going on here?? Up to over $60

 

[white_goodman]

Re: Bitcoins - Peer to Peer currency

what a great store of value, the volatility of it is stupid, this will end badly

[insert gold bug illuminati NWO tin-hat argument]

 

[againsthegrain]

Re: Bitcoins - Peer to Peer currency

nearly 70, this has been going higher and higher on a stupid level.

Prawn you must be doing really well!

I note that a big jump has been taking place since the Cyprus tax has been announced, I wonder if Russian money is moving shifting. After all bitcoin fits the perfect model for the Russian organization.

 

[prawn_86]

Re: Bitcoins - Peer to Peer currency

nearly 70, this has been going higher and higher on a stupid level.

Prawn you must be doing really well!

haha shame i didnt buy more. Some nice beer money that's for sure