The Bitcoin Tracking Thread

[optionT]

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.

.......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.

[Ares]

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.

[Horn]

Crazy. I bought at $154 two days ago.

The longer it stays up at this level, it'll form a nice floor for the 185 mark. http://gold-silver.us/forum/images/smilies/smiley.gif

Attachment 5541

http://health.india.com/diseases-con...rug-addiction/






And the floor is forming at $185....

[madfranks]

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.

[Son-of-Liberty]

Attachment 5541

http://health.india.com/diseases-con...rug-addiction/






And the floor is forming at $185....

Keep digging Horn.

[EE_]

Is Bitcoin the currency of criminals

http://video.cnbc.com/gallery/?play=1&video=3000209899

[madfranks]

The Federal Reserve Note is overwhelmingly the currency of criminals.

[Horn]

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.

[optionT]

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

• Private Equity

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

[EE_]

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