The Bitcoin Tracking Thread

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Originally Posted by madfranks

This really is something else. All economic indicators point to this being classic bubble activity, but nothing like bitcoins has ever been on the market before. There is no historical trend to base prices off of, and no real floor has ever been established for them. Bitcoins have been breaking new grounds through unknown territory ever since their inception.

That being said, human nature doesn't change, but the internet allows price discovery and market changes to occur much faster than before. This mania could push bitcoins phenominally high and the crash could be devastating, all in a matter of a few weeks.

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Yeah, but even if bitcoins crashed/settled at 10 cents apiece, they would still have made about a 10,000% gain since inception!

The biggest way I see the bitcoin price collapsing is if crypto-currencies are specifically outlawed.

Yeah I heard that segment also and if anything it made me more suspicious. Remember Max and his silver to $100 campaign how it was going to break the bankers. Well we know how that turned out. Listening to max hype bitcoin for 20 minutes just made me think of a pump and dump scheme.

There might be another devious angle going on. If this thing financially destroys enough people after it crashes, the G men might decide to
outlaw the online exchanges in some fashion or another... perhaps to highlight and criminalize any crypto-anarchist
alternative currency movement entirely. Except of course, their own "properly regulated" digital currency.

Thoughts?

The defining line between fiction and reality is shrinking every day, but losing all your money on a gamble is still very real.
Be careful out there in cyber land. It's not all fun and games.

5GB downloaded just for wallet and not done. I can see this limiting a few people.

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Originally Posted by Cebu_4_2

5GB downloaded just for wallet and not done. I can see this limiting a few people.

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If you are willing to trust a third party with your bitcoins, you can get a free wallet at https://blockchain.info/wallet/

You can send and receive bitcoins instantly without downloading anything.

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Originally Posted by chad

max keiser was on aj the other doing a big rant about bit coin and how it was going to save the world. i have to wonder if the aj army is getting in. he did like a 20 minute keiser "bitcoin! bitcoin! bitcoin!" rant.

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What's next? Jim Kramer doing shitcoins on bad money? And then when it crashes the next day Benjamin Fulford does a piece on how Ninja's stabbing the trading servers in the dick, directed by the old oriental aristocratic warlords being pissed off from not having been compensated for their $100 trillion in gold they lent out to Roosevelt during WWII...

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Originally Posted by sirgonzo420

If you are willing to trust a third party with your bitcoins,

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Ahem... I think not.
5.3GB and 11K blocks to go. I'll back it all up on other drives so I don/t have to do this again.
I now need to figure out how to acquire some bitcoins.

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Originally Posted by Cebu_4_2

I now need to figure out how to acquire some bitcoins.

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You can buy them on an exchange, which means setting up an account, funding it with USD and then trading. OR the easiest way is to buy one on ebay, then it'll just get delivered to your wallet. But be prepared to pay a premium for ebay.

Example: http://www.ebay.com/itm/One-1-Bitcoi...item1e78952560

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Originally Posted by Cebu_4_2

Ahem... I think not.
5.3GB and 11K blocks to go. I'll back it all up on other drives so I don/t have to do this again.
I now need to figure out how to acquire some bitcoins.

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Getting your wallet at this stage in the block chain takes a long time. You can setup an account at https://mtgox.com and you'll also need a dwolla.com account to move funds in and out of your mtgox account. Dwolla is like paypal, only they charge less. :)