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Old Thu, Dec-05-2013, 07:23:24 PM   #41
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Default Re: Anyone printing money with bitcoins right now?

Praising deflation of a currency. That's a new one. Lol
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Old Thu, Dec-05-2013, 07:33:08 PM   #42
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Default Re: Anyone printing money with bitcoins right now?

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i hear the chinese are hoarding them right now and that scarcity is a big contributor to this meteoric rise in price.

the % gains it's seen over the past few months are entirely unsustainable. '

also ITT "lots" of places are accepting BTC now? which places?
I exchanged half of my cryptocoins for stocks. It is one way to circumvent the long processing times for withdrawals at Gox.
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Old Thu, Dec-05-2013, 07:44:41 PM   #43
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Default Re: Anyone printing money with bitcoins right now?

are cryptocoins another virtual currently like BTC? i know litecoin has been getting hyped recently.

so how do you buy stocks with cryptocoins? how did you receive the stocks?

i'm genuinely curious, i wouldn't mind spending a few hundred bucks to buy some litecoin and see if it has a similar 900% rise on speculation alone and just cash in.

everything i've read, converting BTC to USD is not an easy process, at all, especially at any real volume.
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Old Thu, Dec-05-2013, 08:12:16 PM   #44
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Default Re: Anyone printing money with bitcoins right now?

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are cryptocoins another virtual currently like BTC? i know litecoin has been getting hyped recently.

so how do you buy stocks with cryptocoins? how did you receive the stocks?

i'm genuinely curious, i wouldn't mind spending a few hundred bucks to buy some litecoin and see if it has a similar 900% rise on speculation alone and just cash in.

everything i've read, converting BTC to USD is not an easy process, at all, especially at any real volume.
Cryptocoins is the name given to virtual currencies such as BTC and LTC.

LTC is primed for a price hike too and you don't need heavy duty processors to mine for them the same way you need for BTC. My current miner with 6 GPU's nets me about $200/day at 4GH/s.

You find a broker / brokerage firm that accepts BTC in lieu of US$. A few phone calls and you will be able to find someone that is amenable to such a deal. After that you iron out the details of the transaction.
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Old Thu, Dec-05-2013, 09:02:02 PM   #45
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Default Anyone printing money with bitcoins right now?

You cannot buy securities using anonymous currency. No brokerage will open an account in the US for you without biographical information because of AML laws and KYC protocols.
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Old Thu, Dec-05-2013, 10:49:16 PM   #46
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Default Re: Anyone printing money with bitcoins right now?

Quote:
Originally Posted by Bochet View Post
i hear the chinese are hoarding them right now and that scarcity is a big contributor to this meteoric rise in price.

the % gains it's seen over the past few months are entirely unsustainable. '

also ITT "lots" of places are accepting BTC now? which places?
I definitely over stated with the 'lots' comment. It's more like small businesses with nerdy owners who actually know how BTC works.

At least 1 Subway restaurant and probably many more to follow

Tiger Direct is considering it

Paypal is considering it

Newegg

Virgin Galactic as well. (I know nothing about them)

Lamborghini Newport Beach

This Ford dealership

I don't feel like looking for more, but this thing is trending fast now.


Something interesting from 7 months ago
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Old Thu, Dec-05-2013, 11:46:41 PM   #47
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Default Re: Anyone printing money with bitcoins right now?

Can we have the source to your 'fuzzy-blurred-lores-graph-compared-to-a-strangely-nearly-identical-graph-that-is-crystal-sharp-clearly-using-the-same-graphing-software-image'?

Or was it just a fb post?
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Old Fri, Dec-06-2013, 01:28:03 AM   #48
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Default Re: Anyone printing money with bitcoins right now?

Quote:
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Can we have the source to your 'fuzzy-blurred-lores-graph-compared-to-a-strangely-nearly-identical-graph-that-is-crystal-sharp-clearly-using-the-same-graphing-software-image'?

Or was it just a fb post?
Just a random reddit thread http://www.reddit.com/r/Bitcoin/comm...ort=confidence

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Old Fri, Dec-06-2013, 02:19:50 AM   #49
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Default Anyone printing money with bitcoins right now?

Oh god, technical analysis.

"Oh, an unregulated internet investment that has only been in existence for a few years? Take all of my 401k money!"

---Fast forward to 2015---

"Why didn't someone protect me from this scam! I demand a payout. I'm a victim! I lost all of my life's savings!"
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Old Fri, Dec-06-2013, 11:18:31 AM   #50
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Default Re: Anyone printing money with bitcoins right now?

:rof3l: Some maniac actually bet his entire retirement and savings on BTC.

Quote:
submitted 9 months ago* by anon_bitcoin_gambler
I created this throwaway because I wanted to share what I've done, and someday look back on this thread in either regret or triumph.
I am not a wealthy man. I am actually quite poor and have a lot of student loan debt. But I have good credit. I have applied for, and received over $30,000 USD in credit card 0% balance transfer cash, which I have slowly been investing in bitcoin for the past two months. I started when it was $14/BTC. At this second, it is $25.10/BTC. I have invested some of it in satoshidice, and the rest will be stored in an offline wallet.
I may someday regret this decision. It represents the exact amount of my entire retirement and savings accounts. If bitcoin ever becomes worthless, well, I will just have to deal with it and find another way to retire. If bitcoin takes off the way I think it will, I will someday be a wealthy man and my family will be set.
I am not doing this out of greed, but to support my family and hopefully never have to worry about money again... something I've stressed about for decades. I realize it's controversial and some may take a dim view of it (my family included). But what's done is done.
I am not going to post again until a year from now. And then I will post each year following. Wish me luck.
EDIT: Thank you all for the feedback. I expected some opposition and advice. I have received more than enough, including some things I had not thought of. Most of it I anticipated and already considered though. I am done posting, and hopefully have clarified my position. I will be back in 1 year to document what happened. Have a good day.
UPDATE 4/9/13: I won't give a full accounting until after a year, but I have said that if it goes above 200 and stays there for at least a week, I am going to quit my job. This morning it crossed $200/BTC. Next week I will be quitting my job if it hasn't gone below $200. I have a few Avalon ASIC miners on the way that will hopefully help me preserve this wealth, or at least pay my debts back and enjoy some time off from work for a while... or forever.
UPDATE 4/10/13: All: I cashed out $30,000 USD worth the past few days. I plan on repaying the credit card debts in their entirety next week. I sold at 195, 212, and 242 price points. It was just getting too stressful watching all the recent gains and corrections. I will have a little seller's remorse as the price continues to go up, but I also feel relieved that all the coins I have at this point are icing on the cake. Plus, I am hopeful that my incoming Avalons will generate a lot more down the line. More later.
To the ******* trying to crack my password and access my tip funds: 16 character lastpass randomly generated, non-pronounecable, minimum 8 digits with special characters. Good luck with that.
UPDATE 4/11/13: A few have suggested that I have played a role in the recent correction with my decision to cash out my initial investment. I highly doubt that, and you are all smart enough to make your own decisions. Nevertheless, I am going to take a break from commenting for a while. It's just been too crazy. I will be back when things stabilize, at whatever price that is.
UPDATE 5/15/13: What a month. I took the plunge and quit my job a few weeks ago. Last day is Friday. I was told by my supervisor I could "come back anytime," so I am not too worried if the Bitcoin thing doesn't work out. Anyway, I have an ASICMiner blade arriving any day now. I have several Avalons arriving in the near future as well. I am confident they will pay for far more than my salary ever did. But just in case, I cashed out about 100 coins when the price was $76 a few weeks back. Talk about a panic sell! I didn't post the update here in the off chance it would influence the market as some of you speculated. That should get me through the next few months until all the ASICs arrive and start hashing. After that, who knows. I have a new lease on life right now, and have been exercising and spending tons of time with my kids the past few days as I wound down time at my job.
Recently, I have also pondered starting a non-profit food bank or other charity like sean's outpost. That would be my dream: to help others after I have paid my debts down. We will see. I'd provide a full accounting, but most of you would laugh because about 70% of it is tied up in ASIC miners right now. As my name implies, I guess I am still a gambler at heart. Thanks for the pms and kind words everyone.
UPDATE: 5/22/13: Pic of my new 13,000 mH/s baby.
http://imgur.com/FAbVfPJ [1]
UPDATE 8/14/13: Not much to really say, but I'm still here. I am a little annoyed with the skyrocketing difficulty though. Right now I'm mining with about 470-480Gh/s of equipment on BTC Guild under the team name "Fecal Antimatter." I don't think the ASICs will ever pay for themselves, so that was probably a bad investment. I occasionally hang out in the just-dice chat room and invest there if any of you ever want to chat. With the exception of the climbing exchange rate right now, there honestly hasn't been much good news to talk about. To be honest, mining and the IPO craze going on right now has soured my views on things. I am a stay-at-home dad now and loving every minute of it. I am not going to sell my coins, but am definitely not going to take as many risks as I used to. Thanks for all the kind PMs, and even the hate mail. It's all good fun.
UPDATE 11/2/13: Still here, folks. The exchange rate has climbed back up to $204/coin and I am ecstatic. I knew it would, and I am confident Bitcoin will continue to grow. With the shutdowns of btct.co and bitfunder (at least toward US citizens), I have no more coins invested in bitcoin businesses, and I have pulled all my coins out of just-dice because of the volatility. I have come to terms with the fact that my Avalons and Blades will never pay for themselves, but I am happy with what they did mine. It was a risk, and some of the risks I have taken inevitably won't pay off. At this time, I am very risk-averse, and have all the coins I mine going to paper wallets, backed up via scanned images that I have encrypted and saved in a safe location. Exciting times, so I am content to sit back and watch my efforts pay off simply by the natural appreciation in price. Any questions, feel free to PM me!
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