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  1. #1

    Let's talk about Bitcoins BG, We're doomed!!! The Sky is Falling!!!!!

    Last week bitcoins damn near hit 1,000 usd.

    It's been climbing up this week as well.

    So it's been discussed in the senate recently.

    http://youtu.be/iXFzep2P28Q

  2. #2

  3. #3
    True skill only comes from macro switching all your e-peen gear thru 10 pages
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    Let's talk about Bitcoins BG

    It's too late. You should've been talkin about it years ago >_>

  4. #4
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    lol there was even news about it recently about a guy who bought $26 worth of bitcoins years ago and just kinda forgot about it. When he checked again, it was worth over $800k lol.

  5. #5
    The Fucking Voice of Actually

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    Yep, and that was a while back, before the sudden spike
    http://www.theguardian.com/technolog...rway-oslo-home

    Cashed out 1/5th, bought an apartment
    So if he still has all that 4,000... that's 3.2 million @ $800/coin

  6. #6

    Aside from missed opportunities, anybody else been daytrading between LTC and BTC? It's such a rollercoaster that the ride has been great.

  7. #7
    Tekki's Bitch
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    Where you trade LTC? Haven't really seen any places to do it and i have a fair amount i mined.

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    The issue with the people that have millions in BTC like that is that they're unlikely to see it in any significant amount of USD.

    It's not easy to just sell off $1,000,000 in BTC. It's damn near impossible.

    Imagine how tortuous it must be to have millions of dollars worth of it but unable to actually cash it out. Now imagine how it'll feel if the market crashes for good.

  9. #9

    Quote Originally Posted by Tymon View Post
    The issue with the people that have millions in BTC like that is that they're unlikely to see it in any significant amount of USD.

    It's not easy to just sell off $1,000,000 in BTC. It's damn near impossible.

    Imagine how tortuous it must be to have millions of dollars worth of it but unable to actually cash it out. Now imagine how it'll feel if the market crashes for good.
    Today on CNBC they had some guy talking about BTC and he was saying how someone just transferred $146 million worth into US currency and that transaction took all of 6 seconds. I am pretty sure this was brought up in direct response to a question of how easy or fluid BTC are, but I'm not positive. I mean, of course the guy representing BTC is going to play it up and this might be some fluke, or I may have misinterpreted wtf he said since I was only giving it like a quarter of my attention, but yeah.

  10. #10
    The Fucking Voice of Actually

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    So I'm looking a little deeper into this, and jesus does it seem rediculously easy to permanently lose your wallet.
    And all the fear of your wallet being hacked, I can't find anyone saying it, but I'm assuming the vector to be targeted is basically by interactng with the blockchain network?

  11. #11
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    Quote Originally Posted by Tymon View Post
    The issue with the people that have millions in BTC like that is that they're unlikely to see it in any significant amount of USD.

    It's not easy to just sell off $1,000,000 in BTC. It's damn near impossible.

    Imagine how tortuous it must be to have millions of dollars worth of it but unable to actually cash it out. Now imagine how it'll feel if the market crashes for good.
    Uh, $18m worth of btc have been sold on mtgox alone in the last 24 hours. If you're not particularly concerned about dropping the price significantly, you could easily sell any amount instantly. I'm sure there's probably billions of dollars worth of standing orders. Take a look at http://bitcoincharts.com/markets/ . The top 3 exchanges combined sell about $2B usd per month atm.

  12. #12
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    Really is a whole bunch of "missed opportunity" for me. I remember hearing about it and downloaded stuff, began mining...and then just quit and never went back to it after a few hours. If I had stayed with it...jesus.

  13. #13

    Quote Originally Posted by thetruepandagod View Post
    Where you trade LTC? Haven't really seen any places to do it and i have a fair amount i mined.
    BTC-E

    Now, only register with an email. Don't even try their USD withdraw system and don't give your financial info. Trade your LTC there for BTC, then transfer that to something like coinbase and cash out, or keep holding. LTC is roughly 0.135 BTC trade. Or about 10 bucks per coin.

  14. #14

    For any speculators out there, PPC is rumored to be in the news come Monday. Expecting a price jump.

  15. #15

    Quote Originally Posted by Cantih View Post
    So I'm looking a little deeper into this, and jesus does it seem rediculously easy to permanently lose your wallet.
    And all the fear of your wallet being hacked, I can't find anyone saying it, but I'm assuming the vector to be targeted is basically by interactng with the blockchain network?
    So there paranoid newly made millionaires out there encrypt their wallet.dat and throw it on a thumb drive and lock it in a safe. Seems pretty damn secure to me.

  16. #16

    Quote Originally Posted by guartz View Post
    So there paranoid newly made millionaires out there encrypt their wallet.dat and throw it on a thumb drive and lock it in a safe. Seems pretty damn secure to me.
    As long as you don't have your bitcoins hosted on the Internet, I don't see how it can be any less secure than a physical wallet.

  17. #17
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    Quote Originally Posted by octopus View Post
    As long as you don't have your bitcoins hosted on the Internet, I don't see how it can be any less secure than a physical wallet.
    Your physical wallet can't be stolen by a hacker from across the earth.

  18. #18

    Quote Originally Posted by hey View Post
    Your physical wallet can't be stolen by a hacker from across the earth.
    but an offline bitcoin wallet can be?

  19. #19
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    Quote Originally Posted by octopus View Post
    but an offline bitcoin wallet can be?
    If by offline you mean on your computer that is connected to the internet, then yes.

  20. #20

    Quote Originally Posted by hey View Post
    If by offline you mean on your computer that is connected to the internet, then yes.
    Lol how is offline = on the internet? That's like the complete opposite of offline man ;o

    https://en.bitcoin.it/wiki/How_to_se...savings_wallet

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