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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
madfranks
By far the easiest way to buy BTC is coinbase. Instant BTC transfers from your bank account.
I bought a few bitcoins from coinbase today and it said that my status is pending and that my bitcoins will arrive next Tuesday, Oct 29. Does it typically take this long to get them?
Edit: Also, on mt gox, the price shows as $230.449, and on coinbase.com, it is shown as $210.19. Why the difference?
Edit 2: Found my answer on their FAQ.
Quote:
.......a few points to mention are that even if it is debited from your account on the 21st, it may not arrive to our account that day - so we are not able to verify the payment that quickly. There have been instances where we don't get a notice of insufficient funds or something along those lines for up to 4 business days. So especially in the early days while we are launching this feature, we wanted to err on the side of caution and watch how long it took for problems to show up.
I believe in the future we may be able to reduce these wait times by a day or two, especially for trusted users, but as you know selling bitcoin online is a high risk business so we wanted to play it safe for now. Hope it helps! And we'll work to keep improving it over the coming months.
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Re: The Bitcoin Tracking Thread
Quote:
Edit: Also, on mt gox, the price shows as $230.449, and on coinbase.com, it is shown as $210.19. Why the difference?
Mt.Gox has had 2 accounts seized in the United States due to paperwork not meeting U.S. standards or some bullshit. Anyway they are a little "illiquid" now as it takes about 3-4 weeks to cash out. So that increases the value of the mtgox coins as you're waiting for your wire transfer to reach your U.S. bank account. If I ever decide to cash out, I'll create an account over at coinbase and send my coins there, link up my account and cash out. But for now I'm trading and seeing how far I can go.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
Son-of-Liberty
Crazy. I bought at $154 two days ago.
Quote:
Originally Posted by
Ares
Attachment 5541
http://health.india.com/diseases-con...rug-addiction/
And the floor is forming at $185....
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
optionT
I bought a few bitcoins from coinbase today and it said that my status is pending and that my bitcoins will arrive next Tuesday, Oct 29. Does it typically take this long to get them?
You can buy them instantly, but they just changed their policy to require a back-up credit card on file in case your bank has insufficient funds. Apparently they were having too many people get their BTC but not pay for them. If you're all set up I think you can buy up to 10 BTC per week instantly.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
Horn
Keep digging Horn.
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Re: The Bitcoin Tracking Thread
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Re: The Bitcoin Tracking Thread
The Federal Reserve Note is overwhelmingly the currency of criminals.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
madfranks
The Federal Reserve Note is overwhelmingly the currency of criminals.
I've seen nothing on thread measuring Bitcoins in oz. of Silver.
I hereby call for mutiny of our Frankish Lieutenant of this the GSUS Federation on grounds of self incrimination.
:)
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Re: The Bitcoin Tracking Thread
Head Of Fortress Recommends Investing In Bitcoin
http://www.zerohedge.com/sites/defau.../picture-5.jpg
Submitted by Tyler Durden on 10/24/2013 19:51 -0400
inShare1
At first glance, when the CIO of Fortress Investment Group says:
"Put a little money in Bitcoin...Come back in a few years and it’s going to be worth a lot."
One might think, the firm that manages $54.6 billion is advocating the end of the USD as we know it... Or is this more muppetry at work?
Via Bloomberg:
“Put a little money in Bitcoin,” Novogratz, principal and co-chief investment officer of macro funds at Fortress, said at a conference held today in New York by UBS AG’s chief investment office. “Come back in a few years and it’s going to be worth a lot.”
Novogratz said he sees Bitcoin growing as a payment system, especially in developing nations. Novogratz said he has put his own money in the virtual currency, without specifying how much. He has not invested in Bitcoin on behalf of Fortress, which managed $54.6 billion as of June 30.
“I have a nice little Bitcoin position,” Novogratz said. “Enough that I’m smiling that it doubled.”
However, color us a little skeptical at his advice...
Given that Bitcoin may ultimately make firms like Fortress - that rely on fiat specie - redundant, then doesn't the endorsement of Bitcoin by one of the world's largest Private Equity firms reek of the ultimate failure of BTC as a monetary construct, and seem much more to be merely an attempt by the firm to herd even more momentum chasers into a trade (ostensibly one for Novogratz P.A.) that will be then unwound with Bitcoins ultimately converted into the same dollar they are supposed to replace?
http://www.zerohedge.com/news/2013-1...esting-bitcoin
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Re: The Bitcoin Tracking Thread
Good news!...144,336 Bitcoins taken out of circulation permanently, plus the 30,000 they got previously. That should give Bitcoin prices a boost, no?
If the Feds can manage to seize most of the bitcoins that exist today, will those holding the few left become multi-millionaires?
Feds Confiscate Record $29 Million BitCoin Booty From Dread Pirate's Hard Drive
Submitted by Tyler Durden on 10/26/2013 - 09:19
When three weeks ago, the FBI arrested Ross William Ulbricht - the creator of the now shutdown Bitcoin-only "alternative" marketplace Silk Road also known as Dread Pirate Roberts, some were surprised that the Feds only confiscated about $3.6 million worth in Bitcoins from Ulbrecht. Proving all doubters wrong, and that creating the first "libertarian" marketplace not subject to any rules and regulations, not to mention fiat monetary constraints, actually does pay quite well, moments ago it was revealed that Federal prosecutors had found an additional $29 million, or 144,336 BitCoins, belonging to the Dread Pirate. According to Reuters, the booty was discovered on "computer hardware" belonging to Ulbricht. The repossessed electronic money, whose encryption technologies seem to leave a bit to be desired, has now been impounded and will likely remain on the FBI's hard disks indefinitely.
Authorities said the haul represented the largest ever Bitcoin seizure.
Ulbricht's lawyer could not be contacted on Friday evening (local time), but had previously told reporters his client denied the charges.
The currency, which has been in existence since 2008, first came under scrutiny by law enforcement officials in mid-2011 after media reports surfaced linking bitcoins to Silk Road.
The US Attorney's Office said with nearly 30,000 bitcoins previously seized, federal agents have now collected more than $US33 million in bitcoins based on current value.
Ulbricht is due to appear in court within weeks to face criminal charges of narcotics trafficking conspiracy, computer hacking conspiracy and money laundering conspiracy.
It remains to be seen if the Dread Pirate will be able to transact in prison using BitCoins. It also remains to be seen if leading hedge fund/PE firms such as Fortress, which recently voiced its support for BitCoin, will step in to fill the void left by Ulbricht's arrest realizing the great monetary potential - in either USD or BTC terms - to be reaped by providing the masses with what is a truly anonymous marketplace.
Finally, for those who missed it the first time, here is some additional information on the identity and motivation of the Ulbricht:
Who is the Dread Pirate Roberts?
The court documents described Mr Ulbricht, 29, as a former physics student at the University of Texas, who had gone on to study at the University of Pennsylvania between 2006 and 2010.
It was here, according to Mr Ulbricht's LinkedIn profile, as quoted by court documents, that his "'goals' subsequently 'shifted'".
He wrote on the social network that he had wanted to "give people a first-hand experience of what it would be like to live in a world without the systemic use of force" by "institutions and governments".
Authorities said he took to online forums to publicise Silk Road as a potential marketplace for drugs back in January 2011.
In one such message, a user believed to be Mr Ulbricht allegedly said: "Has anyone seen Silk Road yet? It's kind of like an anonymous Amazon.com."
Investigators said he used the same channels months later to recruit help - starting with a search for an "IT pro in the Bitcoin community".
The FBI said Mr Ulbricht would appear in San Francisco federal court later on Wednesday.
http://www.zerohedge.com/news/2013-1...tes-hard-drive
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Re: The Bitcoin Tracking Thread
I'm pretty sure the feds only have possession of the wallet. They can view the public key anytime and see what it contains. However without the password to decrypt the wallet, and most likely a password to "send" bitcoins (an assumption on my part, but it's pretty common practice to encrypt and password protect your bitcoin wallet) mere possession of the wallet doesn't mean squat. If he was smart and backed it up in the cloud somewhere all he would have to do is tell someone the account of where it's at and how to go about migrating into their wallet and give them the password to unlock the backed up wallet. The feds would hold a worthless piece of encrypted software at that point.
I have my wallet backed up to numerous locations outside of my own computer. Just because if one fails I'll always have a backup.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
EE_
Good news!...144,336 Bitcoins taken out of circulation permanently,
They must be too priceless for me to hold,
if they're being funneled to a Cyber Smithsonian somewhere.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
EE_
It remains to be seen if the Dread Pirate will be able to transact in prison using BitCoins.
Ha ha, no that does not remain to be seen. Who here thinks that he'll be given a computer with internet access during his stay in prison?
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Re: The Bitcoin Tracking Thread
Ok, I'm a Bitcoin virgin, and decided to dive in yesterday. I got an account with Virwox.com and bought 50 buck worth of Linden Dollars. Any other recommendations? I'm trying to read up on this stuff, seems like a lot of info. Thanks!
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
learn2swim
Ok, I'm a Bitcoin virgin, and decided to dive in yesterday. I got an account with Virwox.com and bought 50 buck worth of Linden Dollars. Any other recommendations? I'm trying to read up on this stuff, seems like a lot of info. Thanks!
Linden dollars??
You bought 50 FRN's worth of Bitcoins? Sorry not familiar with Virwox.com. What are you wanting to know? Are you wanting to speculate in the Bitcoin economy? Or buy and hold?
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
madfranks
Ha ha, no that does not remain to be seen. Who here thinks that he'll be given a computer with internet access during his stay in prison?
Too late. FBI has his coins now.... probably the majority if not all.
https://blockchain.info/address/1Ffm...TjJJusN455paPH
144,336.40473652 BTC
or
$ 29,443,183.20
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
sirgonzo420
I saw that, looks like either he talked, or didn't encrypt his wallet.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
Ares
I saw that, looks like either he talked, or didn't encrypt his wallet.
How many Bitcoins can fit in a single wallet?
Quote:
The question of what the government is going to do with its newfound Bitcoin wealth is an interesting one. The FBI filed a
civil forfeiture complaint for the Bitcoins and other assets, just as it would in any crime involving property of value. But the agency isn't quite sure what to do with the Bitcoin once the trial is done. "This is kind of new to us," an FBI spokesperson
told Forbes. "We will probably just liquidate them." That statement is likely to make some former Silk Road customers want to cry; some had as much as $30,000 sitting on the site at the time it was seized. At least now they have a way to express their aggression.
http://www.theverge.com/2013/10/4/48...llet-silk-road
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
Horn
The sky is the limit really. There's no limit (that I am aware of) for how many Bitcoins can fit in a single wallet.
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Re: The Bitcoin Tracking Thread
I have some of bitcoins over at coinbase.com, which is also a wallet. Should or could I also back them up in another wallet and where?
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
Ares
The sky is the limit really. There's no limit (that I am aware of) for how many Bitcoins can fit in a single wallet.
Well you knew I was going to call that silly.
I never walk around with more than couple hundred in any wallet.
Don't they have like an alternate hip pocket, or sock location available?
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
Horn
Well you knew I was going to call that silly.
I never walk around with more than couple hundred in any wallet.
Don't they have like an alternate hip pocket, or sock location available?
With Bitcoins you can also set up unlimited number of wallets and spread your coins between the different addresses. :) You can setup accounts at different exchanges, or online wallet services. Or multiple wallets on your home computer. You can do that as well.
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Re: The Bitcoin Tracking Thread
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Re: The Bitcoin Tracking Thread
I've been out of the Bitcoin game for a while. What's the best exchange? What's the easiest way to get money from my bank account into an exchange where I can get Bitcoins? Thanks.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
Shami-Amourae
I've been out of the Bitcoin game for a while. What's the best exchange? What's the easiest way to get money from my bank account into an exchange where I can get Bitcoins? Thanks.
Probably coinbase.com (U.S. Exchange) and Bitstamp.net European Exchange.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
Shami-Amourae
I've been out of the Bitcoin game for a while. What's the best exchange? What's the easiest way to get money from my bank account into an exchange where I can get Bitcoins? Thanks.
Do it completely anonymously with localbitcoins. Any personal info you have to give on either bank side or exchange side is too much.
People try to do all this shit online because they think it is easier, banks bring regulation which is always a pain in the ass.
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Re: The Bitcoin Tracking Thread
BTC over $200 and holding.
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Re: The Bitcoin Tracking Thread
Currently $238.19. Crazy. I imagine there has to be a correction coming, this is a pretty fast run up, similar to what we saw earlier this year when BTC hit over $260 and then fell.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
madfranks
Currently $238.19. Crazy. I imagine there has to be a correction coming, this is a pretty fast run up, similar to what we saw earlier this year when BTC hit over $260 and then fell.
Yep, but Ebay making that announcement that they are looking to add digital currencies to their accepted form of payment with paypal is probably helping that along quite a bit.
It seems to of laid a solid floor at 200. But yep I do expect a correction. I'm just not very good at guessing when that could be.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
madfranks
Currently $238.19. Crazy. I imagine there has to be a correction coming, this is a pretty fast run up, similar to what we saw earlier this year when BTC hit over $260 and then fell.
If there's a correction I'm buying. I'm not buying at these prices. I feel like an idiot since I only hold Litecoins now. That's probably stupid. The Litecoin price recently doubled in a short period of time. I'm more focused on getting ammo and getting settled into Idaho over this kind of stuff.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
Shami-Amourae
If there's a correction I'm buying. I'm not buying at these prices. I feel like an idiot since I only hold Litecoins now. That's probably stupid. The Litecoin price recently doubled in a short period of time. I'm more focused on getting ammo and getting settled into Idaho over this kind of stuff.
Dont feel like an idiot, just two days ago I traded over 6 BTC for LTC at a ratio of 0.0118, and now, even with BTC's rise, LTC has gained more. The current ratio is 0.01297. My advice, wait for the ratio to hit closer to 0.018 or 0.019 and trade back into BTC.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
Ares
The sky is the limit really. There's no limit (that I am aware of) for how many Bitcoins can fit in a single wallet.
21 million is the limit.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
optionT
I have some of bitcoins over at coinbase.com, which is also a wallet. Should or could I also back them up in another wallet and where?
If you are not the sole owner of the private key associated with the address that holds your bitcoin, then you don't own those bitcoin. You are depending upon a third party (Coinbase).
You can create a new wallet that is solely under your control, and transfer coins there.
For increased security, look into Cold wallets.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
sirgonzo420
21 million is the limit.
I was just relaying that yes if Horn had all 21 million coins, then yeah he could keep every single one of them in a single wallet. :)
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Re: The Bitcoin Tracking Thread
Quote:
With more than 200,000 employees, DHS is the third largest Cabinet department
If each employee at DHS had 52.5 bitcoins in their wallets they could corner the market.
http://en.wikipedia.org/wiki/United_...eland_Security
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Re: The Bitcoin Tracking Thread
Bitstamp:325
Mt.Gox:351
BTC-e:307
BTCChina:2022
LTC/USD:4.33945
Max kieser called for a $350 short term price target on BTC 2-3 weeks ago. Lets see how accurate he is.
Prices are getting a little overblown I would think.
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Re: The Bitcoin Tracking Thread
BitStamp: $362.42
Mt.Gox: $394.00
BTC-e: $346.00
BTCCHina: ¥2,515.03
CoinBase: $362.42
LTC/USD: 4.00
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Re: The Bitcoin Tracking Thread
There's got to be a pull back coming, I just can't see how BTC can double in a week and not have a correction.
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
madfranks
There's got to be a pull back coming, I just can't see how BTC can double in a week and not have a correction.
I know, I've been watching the trends just waiting for a good time to sell. I bought in at 100 a piece so I've definitely made my money back. Just want a lil profit taking, hold until it starts climbing again and purchase more BTC's. :)
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Re: The Bitcoin Tracking Thread
Quote:
Originally Posted by
Ares
I know, I've been watching the trends just waiting for a good time to sell. I bought in at 100 a piece so I've definitely made my money back. Just want a lil profit taking, hold until it starts climbing again and purchase more BTC's. :)
The thing I can't figure out though - while I believe much of this increase is due to the Chinese waking up to bitcoin in the last couple months and really getting into it, are they buying to hold it, or are they buying to sell for a profit? If they're buying to hold, the price should stabilize. If they're buying to sell for a profit, that profit taking could happen any time. I can't tell which is which, and because of that I'm not going to sell even at $400 right now. I just can't shake the feeling though, that this is similar to the last run up around $260 when it dropped back down real quick.
