The Bitcoin Tracking Thread

[madfranks]

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.

[sirgonzo420]

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.

[sirgonzo420]

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.

[Ares]

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.

[Horn]

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

[Son-of-Liberty]

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.

[Ares]

BitStamp: $362.42
Mt.Gox: $394.00
BTC-e: $346.00
BTCCHina: ¥2,515.03
CoinBase: $362.42

LTC/USD: 4.00

[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.

[Ares]

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.

[madfranks]

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.