The Bitcoin Tracking Thread

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Originally Posted by Shami-Amourae

Do any of you guys know how to deposit USD into BTC-e? I'm trying to figure out how.

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It is convoluted as hell. I have been trying to figure it out for the last hour and a half myself. Best I can figure I will have to deposit funds to Mt.Gox get a voucher to send to btc-e through bitinstant. However when I go to bitinstant they seem to have the option to take btc-e vouchers to send to MT.gox but they don't have the option to send them the other way it is fucked.

Only other way I can think of is if you have bitcoins already fund it that way. But I don't so I am screwed and litecoins will likely be $10 before I can fund the fucking account.

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Originally Posted by Shami-Amourae

I think the best way (after research) is to literally buy them with Bitcoins. So buy some Bitcoins and sell them for Litecoins.

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Is their any safe way to get bitcoins without having to download the whole blockchain? That could take awhile.

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Originally Posted by Son-of-Liberty

It is convoluted as hell. I have been trying to figure it out for the last hour and a half myself. Best I can figure I will have to deposit funds to Mt.Gox get a voucher to send to btc-e through bitinstant. However when I go to bitinstant they seem to have the option to take btc-e vouchers to send to MT.gox but they don't have the option to send them the other way it is fucked.

Only other way I can think of is if you have bitcoins already fund it that way. But I don't so I am screwed and litecoins will likely be $10 before I can fund the fucking account.

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I don't think that will happen now unless it becomes easier to buy Bitcoins. People will, and are looking for an alternative since the $100 price mark seems to high for most people. If Mt Gox starts doing Litecoin that's when you want to buy like crazy.

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Originally Posted by Son-of-Liberty

Is their any safe way to get bitcoins without having to download the whole blockchain? That could take awhile.

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The only safe way is let the client download the blockchain itself. Yes I know, it could take days/weeks. You can't really trust any blockchain torrents out there. It takes a long time, I know. This is the #1 flaw with Bitcoin. I've been saying this for a while.

Started downloading the blockchain for bitcoin and it is going retardedly fast. I don't get it? 20% in a few minutes. that doesn't seem right

how many blocks are their supposed to be? I have 229256 that was less then litecoin @ 325454

Just got an idea, how about giving bitcoins silver backing? Mint 1 oz silver rounds with 1 bitcoins value on them, and let them be exchangeable...

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Originally Posted by Son-of-Liberty

how many blocks are their supposed to be? I have 229256 that was less then litecoin @ 325454

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I dunno, but Bitcoin took a couple days for me to download. Litecoin was only a couple hours.

Some questions I have...
Bitcoins are now worth over a billion dollars...how much labor and energy did it take to create this billion dollars?
The Fed did not allow Norfed dollars...why does the fed allow you to trade this alternate currency?
Do you think transactions with bitcoins are anonomous when you make purchases or turn them into cash?
Currently you are required to pay tax on capitol gains in gold and silver...why not bitcoins?
Do you think the NWO wants a purely digital currency?
Do you think greed plays a large part in every bubble in history?
Is it possible the Money Changers, or Google are involved in bitcoin?

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Originally Posted by EE_

Some questions I have...
Bitcoins are now worth over a billion dollars...how much labor and energy did it take to create this billion dollars?
The Fed did not allow Norfed dollars...why does the fed allow you to trade this alternate currency?
Do you think transactions with bitcoins are anonomous when you make purchases or turn them into cash?
Currently you are required to pay tax on capitol gains in gold and silver...why not bitcoins?
Do you think the NWO wants a purely digital currency?
Do you think greed plays a large part in every bubble in history?
Is it possible the Money Changers, or Google are involved in bitcoin?

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See: bit torrent

What tptb desires more or less becomes irrelevant.

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Originally Posted by EE_

Some questions I have...
Bitcoins are now worth over a billion dollars...how much labor and energy did it take to create this billion dollars?

I still think this is the weak link here. Nobody is creating anything tangible and of value to create the bitcoins. At least when you borrow money from the bank to build a house and your signature creates the money the house is real and always has value.

The Fed did not allow Norfed dollars...why does the fed allow you to trade this alternate currency?

They might not like it but good luck stopping it

Do you think transactions with bitcoins are anonomous when you make purchases or turn them into cash?

Depending on how you do it yes. I came across a site that lets you fund a prepaid mastercard with them.

Currently you are required to pay tax on capitol gains in gold and silver...why not bitcoins?

I suppose they want you to but I already have no liability to pay taxes

Do you think the NWO wants a purely digital currency?

One that they control, yes. I don't think bitcoin is under their control though. Also it is only another tool to be used I am not getting rid of my gold/silver

Do you think greed plays a large part in every bubble in history?

Absolutely. Doesn't mean there isn't money to be made here. That is what unchecked money creation by governments does. Causes people to speculate to protect their savings

Is it possible the Money Changers, or Google are involved in bitcoin?

Potentially, but if it is only a small part of your diversification this isn't a huge risk. Someone who put a grand into bitcoins a couple years ago could be a millionaire today. I don't think the gains going forward will be that good but there is still opportunity to make some money and at least protect your wealth in a digital form that can be sent anywhere in the world instantly and outside of government control.

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Originally Posted by Hitcher

Just be careful folks. Know when to jump ship and turn your digital coins into tangibles.

The way things are heading, nothing digital can be trusted. Bitcoins too were conjured up out of thin air. It may all just come crashing back down, poof.

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yep i took my paper today and added to my family food supply one day it will become the Bitcoin but in real stuff not digital stuff . i thought that the reason none of like the fed who could just push a key and it there . and i did pick up a few metal silver dollars today also

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Originally Posted by Ares

Definitely, if you would of asked me 2 years ago if I would invest in hardware to mine either BitCoins or Litecoins I would of laughed and said hell no. But I see the potential is there to make some extra money. Yeah I might not live well off of it, that's fine if I can supplement my income a little why not?

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Bitcoin has paid off mortgages!


There will only ever be 21,000,000 btc....

If one has 21 bitcoins, then one has one one-millionth of the entire eventual (not all the coins are out yet) BTC economy. That means that there could only be 999,999 other people with the same amount.

If one only had 1 bitcoin, then one has one 21-millionth of the entire eventual BTC economy.... which means there could be no more than about 21,000,000 people with the same amount.

Regarding crypto-currencies like Bitcoin and Litecoin, anyone who hears about it now and acts can still be considered an "early adopter".

The cost of admission is still ridiculously cheap. Anyone who has ever played the lottery owes it to himself to buy into Bitcoin. It's by no means a sure thing, but compared to the lottery it's a fuckin' grade A solid investment! If it were to "really take off", having any amount would be quite significant.

Imagine being able to cheaply buy one one-millionth of the world's gold.... (which is, according to my quick calculations, over 5000 oz of gold, at a current market value of $8million+)....

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Originally Posted by sirgonzo420

Bitcoin has paid off mortgages!


There will only ever be 21,000,000 btc....

If one has 21 bitcoins, then one has one one-millionth of the entire eventual (not all the coins are out yet) BTC economy. That means that there could only be 999,999 other people with the same amount.

If one only had 1 bitcoin, then one has one 21-millionth of the entire eventual BTC economy.... which means there could be no more than about 21,000,000 people with the same amount.

Regarding crypto-currencies like Bitcoin and Litecoin, anyone who hears about it now and acts can still be considered an "early adopter".

The cost of admission is still ridiculously cheap. Anyone who has ever played the lottery owes it to himself to buy into Bitcoin. It's by no means a sure thing, but compared to the lottery it's a fuckin' grade A solid investment! If it were to "really take off", having any amount would be quite significant.

Imagine being able to cheaply buy one one-millionth of the world's gold.... (which is, according to my quick calculations, over 5000 oz of gold, at a current market value of $8million+)....

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Wife and I just purchased the equipment for me to build a Litecoin mining rig. So I hope to have a rig that will mine 1,200 K/hs by the end of this week up and running. If Mt.Gox really does adopt Litecoin for trading the price will surely go up. As it stands I've already mined 5 LTC's with just my CPU's. With current difficulty and 1,200 hash rate I should get about 12 coins a day with just dedicated mining.

I had over 138 Bitcoins at one point. I completely regret not sticking to my guns and holding onto them. Just whatever happens, understand these prices are volatile. It's best to buy them early and forget about the prices for a while, despite how hard they rise or crash. If you believe the idea of cryptocurrencies is here to stay, then stick to your guns and watch your wealth multiply.

By the way, my 'predictions' are my thoughts of the moment. Cryptocurrencies are are a new beast and new techniques and thinking needs to be made to figure out how to profit with them. I have made many bad calls in the past, but I think I'm getting closer and closer to understanding how they work each time. It's pure mass psychology.

I am really getting screwed trying to get set up to get some bitcoins here in Canada. A lot of the faster, safe and more anonymous options are unavailable here like bitinstant.

Any suggestions? Dwolla is only for Americans.

Don't know if mining is even worth it. I am using a 3 year old MAC right now and creating a mining rig is above my skill level at this time. Plus spending hundreds for a mining rig to potentially get a small payoff in the future doesn't sit well with me. The more people that start mining the lower the payoff will be.

Found a company (https://www.canadianbitcoins.com/) that is taking cash deposits at some banks but they are charging a $15 premium and are back-ordered.

Looked for local people selling in my area on (https://localbitcoins.com/) and there are none within 3 hours drive.

Apparently there is a shortage of bitcoins here in Canada. :(

and meanwhile the price keeps going up.....

;(

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Originally Posted by Ares

Wife and I just purchased the equipment for me to build a Litecoin mining rig. So I hope to have a rig that will mine 1,200 K/hs by the end of this week up and running. If Mt.Gox really does adopt Litecoin for trading the price will surely go up. As it stands I've already mined 5 LTC's with just my CPU's. With current difficulty and 1,200 hash rate I should get about 12 coins a day with just dedicated mining.

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How much did it cost you for the parts? Do you mind sharing? I am not that tech savvy but I have a friend who could build the rig.

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Originally Posted by Son-of-Liberty

I am really getting screwed trying to get set up to get some bitcoins here in Canada. A lot of the faster, safe and more anonymous options are unavailable here like bitinstant.

Any suggestions? Dwolla is only for Americans.

Don't know if mining is even worth it. I am using a 3 year old MAC right now and creating a mining rig is above my skill level at this time. Plus spending hundreds for a mining rig to potentially get a small payoff in the future doesn't sit well with me. The more people that start mining the lower the payoff will be.

Found a company (https://www.canadianbitcoins.com/) that is taking cash deposits at some banks but they are charging a $15 premium and are back-ordered.

Looked for local people selling in my area on (https://localbitcoins.com/) and there are none within 3 hours drive.

Apparently there is a shortage of bitcoins here in Canada. :(

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Wife and I went back and forth for a good couple of hours before pulling the trigger to buy the equipment for a LTC miner. At current price and difficulty it will pay for itself in under a month. So to me, it is worth the risk. My first sell order will be just what I paid for hardware, and hopefully the price continues to climb and I can continue to mine to supplement my income. Purchase some additional hardware and keep adding hashing power. If you need a hand getting a rig setup, let me know. You'll need a decent graphics card, Motherboard, processor, and at least 8GB of ram. 1000 to 1200watt power supply. I plan on building my own container for the rig out of extra wood I have in my basement from when I built my house. It will be open and free flowing for air. If you want a parts list, I'm attaching the hardware that I purchased. I already have a DVD drive, and SATA hard disk. So I didn't need to purchase one.

Thanks at least I have an idea of the cost now.

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Originally Posted by Son-of-Liberty

Thanks at least I have an idea of the cost now.

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I skimped on a few things, I could of purchased higher end graphics cards that allow for over clocking, and a 1200w Power supply. But figured since I'm unemployed it was already a big risk. lol So I'll build that start hashing, pay it off continue mining and hopefully mtgox will start trading and making my investment worth it. Will take 30 days to get about 360 coins, I plan on keeping a good portion of those and only selling when / if I need too.

Ares do you know how much bandwidth the mining rig would use? I am out in the country and my internet is reasonably fast but there is a bandwidth cap of 30GB/month. Could upgrade to 60GB fairly cheaply but beyond that I am not sure.

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Originally Posted by Son-of-Liberty

Ares do you know how much bandwidth the mining rig would use? I am out in the country and my internet is reasonably fast but there is a bandwidth cap of 30GB/month. Could upgrade to 60GB fairly cheaply but beyond that I am not sure.

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You won't get anywhere near that. The bandwidth used by Bitcoin / litecoin mining is pretty insignificant. You'll perform the work in 256k units, so it's pretty small. You have a way to meter your bandwidth and keep an eye on it? I would rely on that to determine it's usage but I haven't read anywhere of anyone complaining about how much bandwidth mining uses.

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Originally Posted by Son-of-Liberty

Ares do you know how much bandwidth the mining rig would use? I am out in the country and my internet is reasonably fast but there is a bandwidth cap of 30GB/month. Could upgrade to 60GB fairly cheaply but beyond that I am not sure.

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Electricity bill is generally more of a factor than bandwidth.

Yeah I can monitor bandwidth easily. Just wanted to make sure it wasn't going to be huge bandwidth hog because that could potentially be a problem.

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Originally Posted by sirgonzo420

Litecoin is now $4.33.

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I hope this catches on globally so everyone can use this digital currency.
Soon there will no longer be a need for hard currencies like cash, gold and silver.
This is going to be great!

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Originally Posted by EE_

I hope this catches on globally so everyone can use this digital currency.
Soon there will no longer be a need for hard currencies like cash, gold and silver.
This is going to be great!

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What's even better, is if they could make a chip that we can implant in our heads. Nobody could steal our bitcoins then.

The future is indeed very exciting!

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Originally Posted by EE_

I hope this catches on globally so everyone can use this digital currency.
Soon there will no longer be a need for hard currencies like cash, gold and silver.
This is going to be great!

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LOL. something like that. But for those of us who are old-school gold/silver bugs, digital currencies can buy a shit ton of gold and silver, and even ammo, if done correctly.

http://www.youtube.com/watch?v=au5vVDZOubk

I was a hard sell but am definitely going to invest a small amount.

I am looking at bitcoin/litecoin as a risky investment. Sort of like penny stocks in a way but I feel less risky and more upside potential. Not a replacement for gold/silver or even cash. But it is a another way to diversify without holding government/banker paper and it has advantages that PM's do not.

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Originally Posted by Hitcher

What's even better, is if they could make a chip that we can implant in our heads. Nobody could steal our bitcoins then.

The future is indeed very exciting!

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The Illuminati/Elite aren't doing this. This is a rebellion by crypto-anarchists. We will destroy this system of International Jewry and liberate humanity without having to fire a shot or participating in any rigged election.

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Originally Posted by Son-of-Liberty

I was a hard sell but am definitely going to invest a small amount.

I am looking at bitcoin/litecoin as a risky investment. Sort of like penny stocks in a way but I feel less risky and more upside potential. Not a replacement for gold/silver or even cash. But it is a another way to diversify without holding government/banker paper and it has advantages that PM's do not.

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Same here, I looked into Bitcoin back in 2010 and thought to myself. No way that will never take off. Been kicking myself in the ass since Nov of last year....

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Originally Posted by Ares

Same here, I looked into Bitcoin back in 2010 and thought to myself. No way that will never take off. Been kicking myself in the ass since Nov of last year....

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Same here, except I did get in before the first run-up to $30 in Spring/Summer 2011.

If I had spent about one more hour going over it in 2010, when I had first heard about it, I would have many, many, many more ounces of gold to show for it today. So I am kicking myself a bit too, but not nearly as much as someone completely on the sidelines.

Tradehill stole mine. I'm pretty sure I bought them under $10.00

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Originally Posted by ximmy

Tradehill stole mine. I'm pretty sure I bought them under $10.00

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Send an email to claim@tradehill.com

They should pay you back without too much of a problem.

Let me know how it goes.

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Originally Posted by sirgonzo420

Send an email to claim@tradehill.com

They should pay you back without too much of a problem.

Let me know how it goes.

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My bad. I didnt keep a record of them other than on tradehill, so I have no idea what to claim.

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Originally Posted by ximmy

My bad. I didnt keep a record of them other than on tradehill, so I have no idea what to claim.

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I would send them an email letting them know that they still owe you bitcoins.

You could give them a username or email address that you remember using for tradehill, and they should be able to find your account on the backend of the site.

Since you apparently haven't already claimed them, they should still show them owing you bitcoins. You might want to contact them. If you do, I think they'll make it right.

http://ltc.kattare.com/calc.php


Difficulty factor is the killer variable for a mining rig from a profit perspective.

How can you find out what capacity your machine has? Run CGIminer?

I did a budget upgrade cause I couldn't even play youtube videos without 100% cpu, now not so much.
Re-syncing my wallet, no clue where the backup files went and seems to be a bit faster.

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Originally Posted by sirgonzo420

Bitcoin has paid off mortgages!


There will only ever be 21,000,000 btc....

If one has 21 bitcoins, then one has one one-millionth of the entire eventual (not all the coins are out yet) BTC economy. That means that there could only be 999,999 other people with the same amount.

If one only had 1 bitcoin, then one has one 21-millionth of the entire eventual BTC economy.... which means there could be no more than about 21,000,000 people with the same amount.

Regarding crypto-currencies like Bitcoin and Litecoin, anyone who hears about it now and acts can still be considered an "early adopter".

The cost of admission is still ridiculously cheap. Anyone who has ever played the lottery owes it to himself to buy into Bitcoin. It's by no means a sure thing, but compared to the lottery it's a fuckin' grade A solid investment! If it were to "really take off", having any amount would be quite significant.

Imagine being able to cheaply buy one one-millionth of the world's gold.... (which is, according to my quick calculations, over 5000 oz of gold, at a current market value of $8million+)....

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You are aware that what you are lining up are the typical crazy bubble arguments why bitcoins are such an excellent investment aren't you?