The Bitcoin Tracking Thread

[Hitch]

Imagine had you (the unwashed mass) never come to know the cleanliness which is GSUS.

I just like to hang out with folks who are smarter than me.

Every. Time. I visit this forum I learn something. That is a fact.

[sirgonzo420]

I just like to hang out with folks who are smarter than me.

Every. Time. I visit this forum I learn something. That is a fact.

Not to belabor the point, but it is worthwhile, even at the current price of ~$120 -$140, to purchase at least one bitcoin. Just to have. I personally do not care what you do, but I am just trying to be that little voice that whispers "bitcoin" before it is everywhere and all over, and too damned expensive to afford a whole one.

If I had bought $140 worth of bitcoins on the very first day I ever read the word "bitcoin", I'd have millions of dollars from that initial $140 or I could have mined them on my regular PC. Instead I was skeptical... and took the immediate attitude of "sounds like bullshit", but I finally got around to reading the whitepaper and really looking into it, and decided I definitely should have been in it from the beginning!

[optionT]

I started poking around mt gox and it looks like I have to upload my license and another proof of residency in order to buy/sell. Is there an easier/quicker way to go and buy some bitcoins?

[Ares]

I started poking around mt gox and it looks like I have to upload my license and another proof of residency in order to buy/sell. Is there an easier/quicker way to go and buy some bitcoins?

Unfortunately not... Not a part I was all that comfortable with but once I get my ASIC miner I need a reliable place to sell my newly mined coins and mtgox is the most trusted.

[sirgonzo420]

I started poking around mt gox and it looks like I have to upload my license and another proof of residency in order to buy/sell. Is there an easier/quicker way to go and buy some bitcoins?

http://localbitcoins.com

First, school yourself on bitcoin so you don't get fucked.

Then find people locally with cash or whatever other payment method, and exchange for bitcoin sent to an address that only you control, and that you have properly protected and backed up.


Or, ebay sellers are now selling bitcoin.

http://coinbase.com will link to a bank account and allow you to buy from them direct.

http://bitfloor.com - you can deposit cash in their account and be credited to buy BTC on their exchange.

http://bitinstant.com allows you to make a cash deposit at some gas stations and supposedly even walmart, and they sent bitcoin to you quickly.

[Horn]

Not to belabor the point, but it is worthwhile, even at the current price of ~$120 -$140, to purchase at least one bitcoin. Just to have. I personally do not care what you do, but I am just trying to be that little voice on

If I had bought $140 worth of bitcoins on the very first day I ever read the word "bitcoin", I'd have millions of dollars from that initial $140 or I could have mined them on my regular PC. Instead I was skeptical... and took the immediate attitude of "sounds like bullshit", but I finally got around to reading the whitepaper and really looking into it, and decided I definitely should have been in it from the beginning!

You still wouldn't have been any wiser...

How many "Satoshi" would you have spent by now, and what on?

[ximmy]

Remember this thread... WOW so amazing!

http://gold-silver.us/forum/showthre...light=bitcoins


Last: 7.7039 USD

[EE_]

New: Max Keiser – Bullish on Bitcoins

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An interesting thread regarding Bitcoins is playing out on my own site right now. From “Robert,” here is something that may be of interest to Max and Stacey’s audience:

Bitcoin is NOT the brainchild of some random, anonymous genius.Since Cyprus, Bitcoins have gained in value tremendously- this week they even surpassed the parabolic slope and reached toward a truly vertical (and infinite) trajectory.

Do any of you find it counter-referential that the NSA is building the worlds largest/fastest cypher-cracking facility SPECIFICALLY in order to crack the AES cipher (which coincidentally underpins Bitcoin’s “unbreakable” security algorithm)?

Ummmm….. the NSA actually INVENTED the AES cipher in the first place.
And, is it not hysterical that they are going to spend 100 times more on this project than they spent on the project that originally delivered AES…?

Doctor Frankenstien- frantically trying to find the method to kill the beast that he himself unleashed on the world – comical, if not pathetically sad.

But, back to Bitcoins:

Bitcoins are designed to be “mined” ever more efficiently as processing speeds and machine memory continue accelerating due to Moore’s law (that’s Gordon, not me…)

So, The Bitcoin money supply is a function of how effectively computers do their work, just as the Gold money supply has always been a function of how effectively humans do their (real/honest) work.

Here’s the monetary rub with Bitcoin, and consider this CAREFULLY:

Governments each want their currency to rule all others – therefore, they inflate their own currency supply, and buy the others, creating currency strength that incapacitates the internal economy behind the competing currency.

If I was a Central Banker who understood the destructive nature of currency bubbles, would I not use my powers of infinite currency issuance to buy the living hell out of the competing currency? By doing so, I draw in the suckers who see the path to immediate riches, and then pull the rug out from under them at some random top, and watch the whole thing crash and burn…

Beware the Bitcoin.

Mind your Aristotle, my young (and old) disciples:

ALL real and valid money has inherent and intrinsic value (meaning it can never be regarded as totally “worthless” by society)

Bitcoins are data. Data is inherently worthless, except when used as a constructor to true information.

Money is information- it indicates that the holder produces more than they consume, and that they have generated an excess of production that they wish to trade for other forms of excess production.

How can my smartphone full of Bitcoins demonstrate or prove that I am productive?

And here’s a further post from Robert re Silver:

The urge to go 100% Martingale must be be eating at the psyche of the London physical traders right now…

The New York futures market is speculative – it can easily and readily go to zero. Profits are made at the margin, and the futures margins ANYWAYS move inverse to retail premiums on “real” products.

Anyone taken a solid look at retail premiums on bullion products lately?

You find me JUST ONE Silver product anywhere on Earth that can be had for less than $30 per ounce, and I’ll show you a product that is “out of stock”

I fully expect the Wall Street hyenas to start feasting on each other (ala late 2008) real soon here…

http://maxkeiser.com/2013/04/04/rega...ns/#more-65374

[Son-of-Liberty]

I started poking around mt gox and it looks like I have to upload my license and another proof of residency in order to buy/sell. Is there an easier/quicker way to go and buy some bitcoins?

I would look into bitinstant if you are in the US. That is how I would have bought some but I live in Canada and they do not service us yet. You can place an order, and print out a receipt. Take it to walmart, they will scan the receipt and then you pay them. Once you have paid they will deposit bitcoins to your wallet.

I haven't done this just what I read.

[Jewboo]

I started poking around mt gox and it looks like...

The most popular bitcoin exchange, Tokyo-based Mt.Gox announced overnight that it had been the victim of a hacking attack after experiencing a severe lag with its systems. The complications meant the price quickly sank to below $115 before regaining ground to $130 by 6.00 a.m. London time on Thursday, according to Bitcoincharts.com.

Linky