The Bitcoin Tracking Thread

I've been playing with my bitcoins and litecoins the last few days, buying trivial things (mostly candy, lol) and I have to say, it is much more convenient and much more empowering to be using cryptocurrencies instead of national fiat via the established banking system. Just paste the sender's wallet, enter the amount to send and viola, the transaction is complete. Once you engage in economic transactions cutting out the middle man (the bankers), it is a good feeling. These things are going to go far, whether you like it or not. So do your best to try and profit from them.

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Originally Posted by vacuum

whew, the majority of my bitcoins just showed up in my wallet. It took an hour and 40 minutes to show up with the first confirmation.

If I had left it as cash it could have taken weeks to get it back.

edit: I have it all safe now

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If you don't hold it, you don't own it...

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Originally Posted by Neuro

If you don't hold it, you don't own it...

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Don't worry, my bitcoins are safe in a redundant pair of micro sd cards in an anti-static bag, sitting in front of me as I type this...

http://i.imgur.com/VjtG3.jpg

http://www.youtube.com/watch?v=cFhsNUV-zjU

Thanks, great video

We made it back up to $120, things are heating up.

http://i.imgur.com/hcPViGz.png

This forum is like crack:
https://bitcointalk.org/index.php?board=57.0

Bitcoin went up 51% today.
:p

Seems like $120 is developing as a new base. Once we hit $150 we could break old highs in no time.

https://www.youtube.com/watch?v=f8A2OnW6z8s

$138

If it breaks $150 it could go very high.

https://www.youtube.com/watch?v=tbngo_fWrZE

The Bitcoin price looks like it's in a down trend. Just saying. Do what you need to do.

I made my last post when the price was around $135. Price dropped hard to about $100, and is hovering around $115. I don't know what will happen from here, but the $100 level seems like strong support. The lowest I see it dropping below is $80, but these are just my thoughts. I wouldn't be shocked if we see prices fluctuate between $110 and $120 today.

Some are saying this is part of a long, slow, decline like happened in 2011 where it bottomed at 10% of the high price.

U.S. regulators eye Bitcoin supervision
Submitted by cpowell on Tue, 2013-05-07 01:27. Section: Daily Dispatches
By Tracy Alloway, Gregory Meyer, and Stephen Foley
Financial Times, London
Monday, May 6, 2013

http://www.ft.com/intl/cms/s/0/b8101...44feabdc0.html

Senior officials at a top US financial regulator are discussing whether Bitcoin, the controversial cyber-currency, might fall under their regulatory remit.

Bitcoin "is for sure something we need to explore," Bart Chilton, one of the five commissioners at the Commodity Futures Trading Commission (CFTC), told the Financial Times. A person familiar with the CFTC's thinking said that the regulator is "seriously" examining the issue.

Said Mr Chilton: "It's not monopoly money we're talking about here -- real people can have real risk in these instruments, and we need to ensure that we protect markets and consumers, even in what at first blush appear to be 'out there' transactions."

Four-year-old Bitcoin is attracting the interest of regulators amid volatile booms and busts in the value of the cyber-currency and fresh media interest. Intensified regulatory scrutiny could pose challenges for proponents of Bitcoin, who have praised the currency for its independence from traditional authorities.

In March, a branch of the US Treasury Department said that all firms that exchange or transfer the virtual currency will be considered "money services businesses."

That means they must provide information to the government and introduce policies to prevent money laundering. It could also make it risky for other financial institutions to do business with firms that are not in compliance.

Since the ruling, at least three companies in North America have reported having their business accounts closed by their banks. Bitfloor, a New York-based Bitcoin exchange, said it was shutting down entirely, and it has not yet been able to return funds to customers.

Roger Ver, founder of Bitcoinstore.com and an angel investor in Bitcoin start-ups, said that he knew of some entrepreneurs who had moved to Panama to explore setting up operations outside of the US.

"Even if US regulations make it hard for Bitcoin businesses to operate in the US, that doesn't mean it will make it difficult for people to use Bitcoin as a currency in the US. Bitcoin is a world currency," he said.

The CFTC regulates derivatives contracts and, under Dodd-Frank financial reform, has sweeping authority to oversee retail foreign exchange dealers.

CFTC jurisdiction generally does not extend to cash markets unless exchanges list derivatives contracts based on them. For example, the agency monitors physical oil transactions insofar as they influence crude futures traded on the New York Mercantile Exchange.

One person familiar with the discussions said Bitcoin would not become subject to CFTC jurisdiction unless it becomes the basis for a derivatives contract. The use of Bitcoin to pay for ordinary goods is outside the commission's bailiwick.

Leveraged Bitcoin transactions that settled in more than two days -- so-called "rolling spot" transactions -- would also fall under CFTC jurisdiction, the person said.

Said Mr Chilton, the commissioner: "In essence, we're talking about a type of shadow currency, and there is more than a colourable argument to be made that derivative products relating to Bitcoin falls squarely in our jurisdiction."

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we need to ensure that we protect markets and consumers

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That's code for "we want to control bitcoin", which they will never be able to do.

After holding steady around $100 for a couple months, bitcoins are heading back up, currently $124.50.

I may be a fucking idiot but I'm holding everything in Litecoin hoping like HELL Gox finally adds Litecoin to their service. If that happens (which may or may not happen) you could see Litecoin double in price in a very quick time. It may or may not happen. But Litecoin is cheap and it has negative sentiment now. Good place to exchange in my opinion.

Just sharing.

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Originally Posted by Shami-Amourae

I may be a fucking idiot but I'm holding everything in Litecoin hoping like HELL Gox finally adds Litecoin to their service. If that happens (which may or may not happen) you could see Litecoin double in price in a very quick time. It may or may not happen. But Litecoin is cheap and it has negative sentiment now. Good place to exchange in my opinion.

Just sharing.

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You and me both. Gox will add litecoin, of that I'm certain, and when it does, there will be lots of people interested enough to put money in what is an inexpensive alternative to bitcoin, which I believe will push LTC up to between $10-15 by years end. Eventually I see the BTC/LTC price falling in line with their designed ratio of 1:4, meaning at BTC $100 I see LTC around $25.

Bitcoin is at $137. Crazy

Heard a commercial on AM radio yesterday, for a company that will mine bitcoins for you. Didn't catch the name, sorry; & I think it was The Patriot Radio station in MN.

Bitcoin currently at $139. Virtual currencies such as bitcoin and litecoin are able to react to market conditions much, much faster than gold & silver due to market manipulation of the latter. Because of this, I expect to see bitcoin somewhat mimic gold from 2000-2013 in a few years. I expect bitcoin to be $1000+ within 2-3 years.

Now would be a good time to buy Bitcoin. Has been Holding steady at the $120 level on BTC-e for a few months now, despite the take-down of silk road which only depressed the price for a couple days if that.

Where is it going to be after the next financial crisis?

With the debt ceiling looming and china jumping aboard BTC now in the middle to upper 130's.

Gox is higher but is a arbitrage scam.

BTC performing much better then gold or silver which have been price capped by the bankers.

Price on bitstamp.net is 142.97. (U.S. based exchange)

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Originally Posted by Son-of-Liberty

With the debt ceiling looming and china jumping aboard BTC now in the middle to upper 130's.

Gox is higher but is a arbitrage scam.

BTC performing much better then gold or silver which have been price capped by the bankers.

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Bitcoin had the rise that all the Gold/Silver pumpers famed Gold/Silver would have. Yet, in their eyes, people who support Bitcoin are still idiots/crazy.

Yep. If PM's weren't so heavily manipulated they would be having the same reaction.

Unfortunately I am still too heavy on PM's so am not capitalizing like I should be.....

Now 152.24 on bitstamp.net

A lot of the naysayers around here are going to be butt hurt 6-12 months from now when they realize they missed the boat again....

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Originally Posted by Son-of-Liberty

Now 152.24 on bitstamp.net

A lot of the naysayers around here are going to be butt hurt 6-12 months from now when they realize they missed the boat again....

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Technical buy in appears to be somewhere around $20 like Silver.

Attachment 5518

I'm trying to add funds to my mt gox account via bank transfer and couldn't.....


Edit to add: They responded saying to do an international wire.

188.06 on bitstamp, looks like it's started.

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Originally Posted by optionT

I'm trying to add funds to my mt gox account via bank transfer and couldn't.....


Edit to add: They responded saying to do an international wire.

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Don't buy from GOX they are a scam. Their price is always 5% higher to buy then anywhere else because when you go to cash out they take like 2-3 weeks. They are running a arbitrage scam in my opinion. People only use them because they are still (I don't know how?) the most well know exchange.

You could try localbitcoins.com, bitstamp.net, cavirtex.com

Personally I like buying using local bitcoins it is private person to person exchange.

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Originally Posted by vacuum

188.06 on bitstamp, looks like it's started.

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Crazy. I bought at $154 two days ago.

By far the easiest way to buy BTC is coinbase. Instant BTC transfers from your bank account.

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Originally Posted by madfranks

By far the easiest way to buy BTC is coinbase. Instant BTC transfers from your bank account.

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I trade on a couple of different exchanges. I'll probably use coinbase.com to cash out when / if I need to convert my BTC's to FRN's. Other than that, I try to keep my BTC's out of U.S. based exchanges. Its not that I don't trust the firms, I just don't trust the government.

Current bitcoin price (at MTGOX): http://btcticker.appspot.com/mtgox/1btc.png

Bitstamp 189.50

GOX is overvalued because nobody can get their cash out of there.

Still a pretty good surge and it may go further still.

BTC was as high as 1339 CNY last night at btcchina.com which is about $220

http://bitcoinwisdom.com/markets/btcchina/btccny

This surge is being powered by China.

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Originally Posted by Son-of-Liberty

Bitstamp 189.50

GOX is overvalued because nobody can get their cash out of there.

Still a pretty good surge and it may go further still.

BTC was as high as 1339 CNY last night at btcchina.com which is about $220

http://bitcoinwisdom.com/markets/btcchina/btccny

This surge is being powered by China.

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The longer it stays up at this level, it'll form a nice floor for the 185 mark. :)