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  1. #61
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    It dropped a ton over the last few weeks. They're practically being given away on mtgox the last few days. The low point was under $100.

  2. #62
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    About those suicide prevention services....

  3. #63
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    At what point do you re-invest? If this goes lower than $40-50 I'm going all in.

  4. #64

    Quote Originally Posted by Artifact View Post
    At what point do you re-invest? If this goes lower than $40-50 I'm going all in.
    You can't do transactions on mtgox anymore. All the other exchanges are still going at about $500.

  5. #65
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    Quote Originally Posted by octopus View Post
    You can't do transactions on mtgox anymore. All the other exchanges are still going at about $500.
    I saw that. MtGox was showing on Blockchain a couple days ago, plummeting.
    I feel some negative news and the negligence of MtGox will bring down price a bit more (even though it is up on other exchanges, some even $600+).

    Once Gox re-enters the exchange and establishes the "safety" of the currency, I think will be a strong time to invest/exchange. Bitcoin is putting pressure on a lot of internet transactions. If they could even get their hands on 10% of all transactions, the value will skyrocket again.

  6. #66
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    Quote Originally Posted by Artifact View Post
    I saw that. MtGox was showing on Blockchain a couple days ago, plummeting.
    I feel some negative news and the negligence of MtGox will bring down price a bit more (even though it is up on other exchanges, some even $600+).

    Once Gox re-enters the exchange and establishes the "safety" of the currency, I think will be a strong time to invest/exchange. Bitcoin is putting pressure on a lot of internet transactions. If they could even get their hands on 10% of all transactions, the value will skyrocket again.
    Can I have what you're smoking?

  7. #67
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    Quote Originally Posted by bluefan View Post
    Can I have what you're smoking?
    I meant to put online transactions. Sorry.
    10% is steep, but I think that if it starts rolling, the bitcoin will start to be used at a very fast rate. Paypal captures around 60% of all online transactions, and will consider using bitcoin as a form of payment.
    If eBay, Amazon and other online marketplaces use this more and more along with Paypal allowing it through their services.... it will get the ball rolling --- and won't stop.

    Since Google, Facebook, Twitter and other Social Media CEO's support (or did at least before MtGox shit the bed) bitcoin, the internet will accept it a lot faster. My mom and dad who are in construction and real estate have asked me about bitcoin. So it will be a universal term to every household within time.

    IF bitcoin can get back on their feet after whatever the hell just happened, this wouldn't be an insane number to shoot for 3 years down the road.

    But, maybe I'm just smoking.

  8. #68
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    That's an insane number to shoot for 10 years down the road.

  9. #69
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    Quote Originally Posted by archibaldcrane View Post
    That's an insane number to shoot for 10 years down the road.
    I disagree completely. Anything big, via internet, didn't take 10 years to take storm.

    Paypal started in 2000, as X.com. Paypal was thought to be a "bad" or "non-secure" way of paying thing. Changed name to Paypal, and became a method of payment for eBay.
    10 years later, Paypal now accounts for 60% of internet market transactions.

    This is a different animal, I understand that. But if this starts to "work" and/or prove it is "secured," 10% in 10 years is terribly low. Especially if it will be used through Amazon, eBay, Google and supported by internet CEO's with great power.

  10. #70
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    you're talking like bitcoin is some sort of internet hype train and that as long as it keeps chugging it'll pick up steam super fast.

    this is a currency, and it's subject to a whole fuckton of considerations regarding that. basic economics has a lhell of a lot more relevance than the history of paypal or amazon.

  11. #71
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    I just see Bitcoins as an unrestricted points card system. Unless tens of thousands of other vendors jump onto it like the pizza joint in my city (which just got their Bitcoin ATM), can't see it being worth a whole lot.

  12. #72
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    Quote Originally Posted by Xajii View Post
    you're talking like bitcoin is some sort of internet hype train and that as long as it keeps chugging it'll pick up steam super fast.

    this is a currency, and it's subject to a whole fuckton of considerations regarding that. basic economics has a lhell of a lot more relevance than the history of paypal or amazon.
    I am not arguing with you, because this is all prediction and opinion.

    However. What is a hype train? Bitcoin has been around 4 years roughly, with the first year being hackers and the "creators." It is now being used to purchase every day things, inlcuding Pizza, to bluefan's point.

    "Pizza For Coins - This service lets you order Domino's Pizza with Bitcoin. Just put in a name and address and you'll be sent to an online order menu. Pizza for Coins then verifies your payment and places an order within ten minutes."


    You can also buy a car with bitcoin. "A Lamborghini dealership in Newport Beach, Calif. blogged they accepted Bitcoin in the recent purchase of a Tesla, made for $103,000."
    Tesla accepts bitcoin as a company. Tesla is ran by Elon Musk. Elon Musk is very powerful.

    Salaries are now the topic of bitcoin use. Kentucky agreed to pay the police of chief in one of the towns in bitcoin. Wal-Mart and CVS are now giving it consideration as an option to have salaries be paid in bitcoin.

    For not having much public exposure, or enough to catch the eyes of businesses and executives... I would have to say the value of bitcoin, the name of bitcoin and the spending capabilities have grown significantly. I believe if giant companies such as Wal-Mart start to use them -- it will be a starting point to other very large companies doing the same. Domino's allows bitcoin, and Pizza is a copy-cat business. I am sure others will do the same.

    I personally do not think basic economics cannot be used to predict bitcoin. Nothing like this has happened before. And if it did (or even the thought), it was ignored.

  13. #73
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    Off topic but I enjoyed police of chief lol

  14. #74
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    The problem is that credit and check cards work just fine. Why use bitcoin unless you need to be untraceable?

  15. #75

    Quote Originally Posted by archibaldcrane View Post
    The problem is that credit and check cards work just fine. Why use bitcoin unless you need to be untraceable?
    There's a growing portion of the population that doesn't want to be tracked, even for simple stuff like buying a pizza. I know that if it were more convenient then I would switch to a traceless transaction. I guess it's just a matter of whether or not this becomes that convenient, and if the portion of the population is large enough

  16. #76
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    I missed the bit coin opportunity 4years ago. Gonna try to dump a few into bit coin instead of reps this year.

  17. #77
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    Quote Originally Posted by tyven View Post
    Off topic but I enjoyed police of chief lol
    hahaha. I didn't even realize it until now. I stare at numbers all day. Shit.

  18. #78
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    Quote Originally Posted by archibaldcrane View Post
    The problem is that credit and check cards work just fine. Why use bitcoin unless you need to be untraceable?
    It's hugely beneficial for small businesses who are suddenly able to avoid credit card fee's while using things like square etc. Also easiest way to get money around internationally.

  19. #79
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    again, all of this sounds dandy until you realize any one of like 15 members of the family that owns wal-mart could individually get a wild hair up their ass and take complete control of bitcoins instead of making it an acceptable currency

  20. #80
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    http://www.cbc.ca/news/business/bitc...heft-1.2559018

    A second online bitcoin bank has shut down after a security breach allowed thieves to steal a large quantity of bitcoins.

    Flexcoin made the abrupt announcement on its website Tuesday, admitting that it had been robbed of 896 bitcoins after a thief or thieves managed to collect them from Flexcoins servers and transfer them to two bitcoin wallets — a unique string of numbers and letters that function similarly to an email address, and bitcoin's equivalent to individual bank accounts where customers store money.

    At current market rates, the theft amounts to more than $600,000 US. The figure represents the bank's entire bitcoin holdings online, effectively wiping out any customers who held assets there.

    Mt. Gox shutdown a major blow for bitcoin
    Bitcoins aren't tax-exempt, Revenue Canada says
    "As Flexcoin does not have the resources, assets, or otherwise to come back from this loss, we are closing our doors immediately," Flexcoin said in a statement.

    The bank did say however, that any customers who had bitcoins held in so-called "cold storage" — not on the site online servers and therefore safe from digital attack — can still retrieve their funds free of charge.

    Flexcoin also says it will work with law enforcement to decipher the source of the hack. The company said in a release the money was transferred to the following two bitcoin wallets:

    1NDkevapt4SWYFEmquCDBSf7DLMTNVggdu
    1QFcC5JitGwpFKqRDd9QNH3eGN56dCNgy6
    Bitcoin is a digital cryptocurrency that isn't tied to any physical assets or controlled by any country's central bank. It's pitched as an alternative to the fiat money system and a way for users to do business online without detection or interference from governments or multinational corporations.

    But it's been rocked by security concerns recently, especially after the world's largest bitcoin bank, Japanese-based Mt. Gox, announced that hackers had managed to steal several hundred million dollars from their reserves. Mt. Gox initially froze all accounts in the hopes of retrieving the money, but has subsequently begun bankruptcy proceedings.

    In U.S. dollar terms, Flexcoin wasn't a major player in bitcoin, but a second security breach on the heels of Mt. Gox's demise will do little to assuage fears that bitcoin's existence outside government regulation leaves the currency open to criminal activities.

    "While the MtGox closure is unfortunate, we at Flexcoin have not lost anything," Flexcoin said via their twitter account as recently as February 25th.

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