Bitcoins at $75
- Thread starter schockergd
- Start date
I just wand BFL to start shipping their mining gear! Godamn
Cancel your order and get in on Avalon Batch 3, regardless of what they are going to charge, it at least exists. BFL has been bullshitting for 6 months now.
motherfucking bitcoins making me so jealous
the founders that started bitcoin probably have hundreds of thousands or millions of them stockpiled. They can probably be like 'i want a beemer' 1000 sold. new house? 10000 coins. They can probably just digitally create coins and sell them on the open maket, like your own federal reserve. fucking awesome.
the founders that started bitcoin probably have hundreds of thousands or millions of them stockpiled. They can probably be like 'i want a beemer' 1000 sold. new house? 10000 coins. They can probably just digitally create coins and sell them on the open maket, like your own federal reserve. fucking awesome.
im just going to chalk this up as an opportunity missed. Too risky for my standards to jump in and buy now
Ironically, the more BTC's price goes up, the more tightly I hold onto my coins and look for more stashes of money to give to some bitcoin exchange... So no, there are no FRN's flying through the air around here; they've all been converted already.
I have never nor will I ever let any paper money in my vault like that... That's just tacky.
... I uh... Can't disagree with that part too much.
It's inbetween the two. On one hand, the majority of bitcoin adoption is clearly hoarders & speculators like myself. But there are more businesses dealing in Bitcoin everyday too. Not just mom 'n pop shops either. (ex: Namecheap & Mega)
Also keep in mind that the Euro has seen the larger turnover to BTC, not the USD... They're the ones having the economic turmoil at the moment, so it's obvious that there is another class of adopters here too that is large enough to move the market: The Monetary refugees.
Please define "the wrong end." That sounds to me like someone who isn't hoarding.
This is not why I feel it will continue to rise well past $1000/btc. The leader of the Pirate Party in Europe has made a very succinct case why. He says it could go to a Million per BTC, and I see no flaw in his math... But I am realistic enough to know that the governments will eventually want to fight Bitcoin and that's certain to have some effect on it's price when they do.
As for your incorrect assumption that bitcoin can't be money by it's own merit, I'll just have to leave you with this to reflect on:
Are you a black market merchant/customer or something?
Out of the 7 Main drivers I can detect for bitcoin's adoption, I place the black market in dead last place for # of people it's sent to Bitcoin.
Think about it this way: The silk road was using BTC fully when it was only worth $3... So for that to be a primary driver today, clearly the silk road would have to have grown 25X more popular in the last half year or so.
Yes and BTC went up to to $14 after the wired article and ended up closer to $24 after all the associated silk road press.
To say that black market dealings is last place is ignorant. That's only accounting for drugs, let's think about the weapons markets and money laundering as well.
Ironically, the more BTC's price goes up, the more tightly I hold onto my coins and look for more stashes of money to give to some bitcoin exchange... So no, there are no FRN's flying through the air around here; they've all been converted already.
Not to derail this thread, but someone in here (can't remember who) made a similar post about this concept of not wanting to spend Bitcoins that made me question my Austrian Economic stance.
So if inflation wasn't happening right now (thanks to QE17 and whatever else is up their sleeve) then people would be hoarding money instead of spending it right? (Similar to what is going on with Bitcoins)
So that in turn would cause the economy to halt, which wouldn't necessarily be a good thing (I suppose this is where the debate is). Just trying to sort that out.
Anyways, that price is ridiculous. Kinda kicking myself for not buying a grand or 2 of bitcoins just for speculation.
Same luck here...
Can anyone recommend a good alternative? Ideally has the same type of features as coinbase.
According to these threads: [Avalon ASIC] - https://bitcointalk.org/index.php?PHPSESSID=1uh1h1290nm7fm2ubni52qh5m7&topic=155141.20
Avalon Batch #3 will cost 88BTC to 115BTC.
Which is reasonable enough if you have a stash of BTC that you bought for $20 or less / mined yourself, but if all you have is USD then it's crazy expensive at current exchange rates which seem to me overly speculative. The early birds win again.
Looks like Avalon orders could begin next Friday. The only winners will be Avalon and whoever has acquired BTC on the cheap.
My Experience with Bitcoins
Personally, I don't have even .000001 BTC. I tried mining with my desktop in 2011, but I gave up on that real quick because of how slow it was.
I then tried to acquire some acid on the silk road around the time of that Wired article, but they wanted like 3-5 BTC a tab when the exchange rate was 1 BTC to 10 USD. :disgust:
Some Reservations - Keep it as BTC!
It's the whole exchanging USD for BTC thing that gets me. It makes them expensive tokens which have no value in themselves. I want BTC not BTC pinned to the USD. That's why I'm excited about these ASICs. I don't want to buy BTC, I want to mine it and keep it as BTC. I might sell some to cover the costs, but probably not.
I think bitcoins are most valuable as the cryptocurrency they were envisioned to be. And I think the ASIC hysteria is good because I believe it will create more "working bitcoins" rather than "investment bitcoins."
Gambling on Butterfly Labs
I have an order in for the 30 GH/S ASIC from Butterfly Labs. I'm not really worried about when they will deliver, but I'm hoping for July or August.
Despite what people say, they seem legit enough though I've been surprised before. The biggest risk seems to be actually receiving a working machine that does what they claim. That's another reasons I don't mind waiting. Hopefully, I'll get a less buggy ACIS.
Difficulty Chart
I used this chart to make my decision about buying. As more ASIC's are sent out the difficulty will increase, but there's still a good rate of BTC to be mined even at the highest difficulty on this chart.
I figure 42 BTC a year is pretty good. 60 BTC is better. 100 BTC would be great. It seems all you need to do is pay the electric bill and let it do its thing. In several years, I'll have a nice stash no one knows much about.
Coming Correction
There's been some excitement brewing about what BTC equals in USD and it seems like it's about to become a hysteria.
I don't have mcgrunin's nostradamus charts, but there's a correction coming. It happened after the Wired article too. Granted there's a lot more trading going on now.
I'm happy to have 50-100 BTC whatever the exchange rate is, but if I had to guess I expect we'll see it soar as high as 150-300 USD, but then come back down to 30-50 USD or less. That's total guess work. I have no fucking idea.
Government's Take
Here's another good reasons to keep and trade BTC as BTC. The government is cool with that. They aren't down with the money changers however.
How Washington Plans to Regulate Your Bitcoins - NationalJournal.com
Avalon Batch #3 will cost 88BTC to 115BTC.
Which is reasonable enough if you have a stash of BTC that you bought for $20 or less / mined yourself, but if all you have is USD then it's crazy expensive at current exchange rates which seem to me overly speculative. The early birds win again.
Looks like Avalon orders could begin next Friday. The only winners will be Avalon and whoever has acquired BTC on the cheap.
My Experience with Bitcoins
Personally, I don't have even .000001 BTC. I tried mining with my desktop in 2011, but I gave up on that real quick because of how slow it was.
I then tried to acquire some acid on the silk road around the time of that Wired article, but they wanted like 3-5 BTC a tab when the exchange rate was 1 BTC to 10 USD. :disgust:
Some Reservations - Keep it as BTC!
It's the whole exchanging USD for BTC thing that gets me. It makes them expensive tokens which have no value in themselves. I want BTC not BTC pinned to the USD. That's why I'm excited about these ASICs. I don't want to buy BTC, I want to mine it and keep it as BTC. I might sell some to cover the costs, but probably not.
I think bitcoins are most valuable as the cryptocurrency they were envisioned to be. And I think the ASIC hysteria is good because I believe it will create more "working bitcoins" rather than "investment bitcoins."
Gambling on Butterfly Labs
I have an order in for the 30 GH/S ASIC from Butterfly Labs. I'm not really worried about when they will deliver, but I'm hoping for July or August.
Despite what people say, they seem legit enough though I've been surprised before. The biggest risk seems to be actually receiving a working machine that does what they claim. That's another reasons I don't mind waiting. Hopefully, I'll get a less buggy ACIS.
Difficulty Chart
I used this chart to make my decision about buying. As more ASIC's are sent out the difficulty will increase, but there's still a good rate of BTC to be mined even at the highest difficulty on this chart.
I figure 42 BTC a year is pretty good. 60 BTC is better. 100 BTC would be great. It seems all you need to do is pay the electric bill and let it do its thing. In several years, I'll have a nice stash no one knows much about.
Coming Correction
There's been some excitement brewing about what BTC equals in USD and it seems like it's about to become a hysteria.
I don't have mcgrunin's nostradamus charts, but there's a correction coming. It happened after the Wired article too. Granted there's a lot more trading going on now.
I'm happy to have 50-100 BTC whatever the exchange rate is, but if I had to guess I expect we'll see it soar as high as 150-300 USD, but then come back down to 30-50 USD or less. That's total guess work. I have no fucking idea.
Government's Take
Here's another good reasons to keep and trade BTC as BTC. The government is cool with that. They aren't down with the money changers however.
How Washington Plans to Regulate Your Bitcoins - NationalJournal.com
SR has grown exponentially. Me thinks the ease of use for illicit activities is one of the main reasons for it's usage and growth.
Oh, and would never participate with a black market organization that circumvents the law of the land. I respect my country and it's legislators.