Use this: http://products.butterflylabs.com/1500gh...miner.html

Well it crashed last time when it hit =30 USD, back down to ~10 USD. So I'm just assuming itll happen again.

(03-14-2013 12:22 AM)pants Wrote:  wait for crash? why? cause you know there is just one more bug that's need to be discovered?

good job on the buying though. I'll probably spends 1500 usd today myself.

mhm, but that was due to some security problems with the Mt.Gox?

I think there is no real connection the 30usd threshold and crashing, not saying the stock not crashing again though.

Soon Java installed on ubuntu, and I am ready to buy some coins!

Bitcoin apps soar in Spain:

http://bgr.com/2013/03/18/bitcoin-analys...edium=home

This thing is the new crack. 1 BTC has now reached over the $50 mark. Seems that the news of the Cyprus bailout and the risk of contagion has caused Bitcoin popularity to soar in weakening Eurozone countries.

I like the idea of bitcoins, but I fear that if bitcoins become too popular, you will see governments try to crack down on the use of bitcoins by blocking or shutting down websites that enable the use of bitcoins.

I just looked at a graph of historical bitcoin prices and there's been a dramatic straight uptick in the past month. I think this is fueled mainly by speculation from investors not increasing acceptance (from merchants) of bitcoin in exchange for products or services. The same thing is happening with the stock market which is seeing all-time highs for no legitimate reason.

Might affect the price. But they worked pretty hard on stopping torrents also, not so much luck there.

I f-ing hate java. Not been able to access online banking in 24 hours. Already lost 300usd in bitcoins.

they are trading for 60 now

Coinbase has reached their buy limit and has been denying customers all week.

ASIC miners are entering the market now I believe?

The general awareness in the population will also affect its value. I've seen it more in the norwegian news the past two months also. How much would google be worth if only 2% of the population knew about it?

(03-09-2013 05:15 AM)pants Wrote:  I'm not sure how much international playboys are taxed. But if I were someone like roosh writing. Accepting coins for books might be a good way to dodge some tax.

Therein lies the problem - this is a major threat to the massive global credit card companies - even payments via PayPal are tied to a credit or debit card.

These bit-digi-coins are completely alternative electronic currencies that many countries, the USA included are looking very closely at for their potential to support tax evasion or worse money laundering and or radical islamists networks.

First rule of living under the radar deepdiver style is do not become a lightning rod!

A number of Swiss banks that decided to open offices in the USA and then sell "legal" tax shelters in the USA were targeted by Senator Levine and his agents at the IRS and have now exposed their clients to onerous reporting under the new FATCA laws... Google it - just saying - when you turn yourself into a lightning rod and rattle the big cash flows (Credit Cards etc) of the top 0.001% you usually get struck by lighting... not a good thing.

PayPal played ball and is extremely prosperous - I just used it to pay an on line web services bill where my credit card had an "online block" due to all the identity theft going on - ironically PayPal was connected to the same card and just did a quick pass through for a small fee.

Bitcoins - an interesting way to democratize digital money really - from my reading are NOT playing ball with the global plastic money empires and might survive until such time as the empires strike back UBS style.

The Credit Card networks MC Visa Amex CarteBlache and Discover are some of the most profitable global businesses on the planet - many cards processors/banks are ruthless and were proven to hold payments for a few days and post them late jacking millions of the 99.999% cardholders rates up to as much as 31% - enough to make a Mafia loan shark envious - basically legalized usury and not going away any time soon.

This and any other digital coiners - that play ball with the Plastique Card oligopolies are likely to be the real threat to bitcoin imheo.

Holy shit, it has hit nearly 60USD. This is madness.
.

How Washington Plans to Regulate Your Bitcoins:

http://www.nationaljournal.com/tech/how-...s-20130321

What's a good & reliable site(s) where I can buy bitcoins with a USA issued Visa gift/debit card? This is a card that one can buy at a grocery store, pay for it at the register then get activated.

https://www.bitinstant.com/

I haven't used the site myself, but many recommend it.

I'm personaly using http://www.bitcoin-otc.com . There you deal with person to person. You can use escrow, but be careful, i heard there are some scam escrow services also.

doomed to fail, or at least get regulated, because being electronic means it is totally traceable and traceable means fuckable.

Since all major currencies are now fiat, the governments are extremely wary and distrustful of anything that looks like a competitor.

Send one black ops team around to "visit" the executives families: bitcoin complies the next day.

gold is different, possession is decentralized and untraceable with modern tech.

(03-22-2013 03:09 AM)iknowexactly Wrote:  doomed to fail, or at least get regulated, because being electronic means it is totally traceable and traceable means fuckable.

Since all major currencies are now fiat, the governments are extremely wary and distrustful of anything that looks like a competitor.

Send one black ops team around to "visit" the executives families: bitcoin complies the next day.

gold is different, possession is decentralized and untraceable with modern tech.

Bitcoin is totally decentralised. There's no one company or group of people in charge of it. Anyone can buy, sell or mine bitcoin, providing the people who run blockchain - which is the service all bitcoing transactions go through - don't get fucked over by the government.

So if they do try and regulate it I hope they just go pirate bay style.

If the govt do somehow manage to take proper control over bitcoins infrastructure, a replacement will emerge straight away anyway. People always find a way around govt. regulation of the internet.

Quote:doomed to fail, or at least get regulated, because being electronic means it is totally traceable and traceable means fuckable.

The extreme underestimation of nerds is strong with this post.

Long story short, if you stay out, you'll regret it.

This inflation is crazy. I like some stability or at least rationality to this bubble

Who the hell is pouring money into bit coins? Is it really specs??

Who the hell is pouring money out of bitcoins.

Just took a major dip. Maybe there are some cheep coins to be bought now.

Huh? It's 65/70 bucks right now. That's uppers.

(03-22-2013 04:34 PM)dulst Wrote:  

(03-22-2013 03:09 AM)iknowexactly Wrote:  gold is different, possession is decentralized and untraceable with modern tech.

Bitcoin is totally decentralised. ....... the people who run blockchain - which is the service all bitcoing transactions go through

so "all transactions go through the people who run blockchain" but it's decentralized? And untraceable? EVERYTHING in the internet is traceable if Skynet troubles itself to do it. Do you even know how name servers work, what an IP number is, what logs are? How hard do you think it is for the Secret Service to set up anonymous proxy services? To strong arm existing anonymizers?

You are confusing Skynet not caring with Skynet being powerless.

And those people can't be gotten to? I am willing to bet as the pyramid scheme they created is escalating up will be getting a lot of their assets out and into hard currency, gold or whatever.

I admit I don't like doomsayers-- because they never give a date when they'll be wrong.
So I admit I'll be wrong. When the US Government recognizes and allows bitcoin to be processed
through US Banks.

If it crashes-- well it was the gubmint's fault.

Why Because the big bad Gubmint has this in the Constitution:

The Congress shall have Power......
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;

From their website, emphasis mine:
The price of a bitcoin can unpredictably increase or decrease over a short period of time due to its young economy, novel nature, and sometimes illiquid markets. Consequently, keeping your savings in bitcoin is not recommended. Bitcoin should be considered as a high risk asset, and you should never store money that you cannot afford to lose with Bitcoin.

So you see people's devotion to a totally abstract form of value--essentially exactly the same as a fiat currency-- as a positive thing?

You've heard of tulip bulbs, right? At least that was a tangible thing.

http://en.wikipedia.org/wiki/Tulip_mania

Not sure exactly, maybe someone could correct me, but I think piracy could be stopped too if Skynet wanted to-- the whole internet depends on the main nameservers.

Skynet is not powerless over you, they just have better things to do. You are not important. Yet.

Here's how China keeps things under control:

http://factsanddetails.com/china.php?itemid=232

(03-08-2013 11:37 PM)pants Wrote:  Limit in supply, like gold.

Gold bad investment?

Risks I see are alternative bitcoins.

The fact that people are sitting on coins instead of usd makes it a better of investment in my opinion

Why is it limited? Because the founders said so? And what's to stop them from raising the limited amount, like every other creator of fiat currency has done since the dawn of history?

(03-23-2013 06:47 AM)guerrilla Wrote:  Huh? It's 65/70 bucks right now. That's uppers.

It's now in the 60s. Was in the 70s yesterday.

limited because the created made it that way. why? I don't know. maybe of social economic beliefs.

I am unsure if that's the best way though. what happens with all the computer power to back it up when there is no more money in mining? rely on transactions fees alone. is it enough?

maybe a built in inflation of a few percent would be better.

I referred to the dip of 52 usd today.