Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Bitcoin breaks $200

coinbase.com

Post reply on HN
Print view View original

151–160 of 209 posts

Re: Bitcoin breaks $200

#151

Post by canvia »

Datsundere wrote: post #94

I tried to buy bitcoins when they were $60. I look for sites that would sell me bitcoins for USD. It was so hard and the ways to buy them were so damn complicated. I had to sign up for a 3rd party site to import bitcoin to mtgox. The 3rd party site needed me to upload my personal identity information to verify my bank account. I was ready to do that as well, except they said it'd take 10+ days to verify. Also someone…

Coinbase is very easy to use. It'll take a while to get to the level that you can do instant purchases. They have a max number to sell per day so if the market is volatile you can't participate that well through Coinbase. As an entry point it's very professional. It does both me that there is no password verification on initial signup. What if you made a typo?

Re: Bitcoin breaks $200

#152

Post by Phlarp »

gwern wrote: post #136
Phlarp wrote: post #110

Earlier quoted context omitted.

Go look at the top 250 addresses, a _majority_ of them have never been spent from. There isn't any conclusive proof that the #1 address (111,111 BTC) belongs to DPR, but it is clearly linked to SR in one way or another. I'd be willing to bet a solid amount of my own holdings that those coins are effectively "dead" (private key lost) along with a good portion of the rest of the addresses that haven't been touched sinc…

> There isn't any conclusive proof that the #1 address (111,111 BTC) belongs to DPR, but it is clearly linked to SR in one way or another. It's been linked to Ross/altoid's Bitcointalk posts, and has a sum consistent with the first year of SR commissions. That's all as conclusive evidence as anyone needs for it.

So what happens when you remove 1% of the currency from the market in a single day?

Re: Bitcoin breaks $200

#153

Post by tsotha »

ryanhuff wrote: post #127
qoo wrote: post #115

Earlier quoted context omitted.

The Chinese will do anything to destabilize USD

Ridiculous. Why would the Chinese want to destabilize their biggest debtor?

Agreed. China is flush with dollar-denominated assets. Besides, if the dollar weakens it will make Chinese goods more expensive in the US and cause labor unrest in China.

Re: Bitcoin breaks $200

#155

Post by mrtron »

skriticos2 wrote: post #68
betterunix wrote: post #41

Earlier quoted context omitted.

Nothing stops anyone from making their own personal variant of Bitcoin, however. Or 10 of those variants. Or a million. In other words, the limit applies only within a single system, and there is no limit on the number of such systems.

People care about Bitcoin. They don't care about other variants much. This gives Bitcoin value and not the other variants. In other words, creating another blockchain is easy but convincing enough people that the variant coins are worth something is hard. Very hard.

People care about tulips. They don't care about other variants much. This gives tulips value and not the other variants.

Both are true statements.

Re: Bitcoin breaks $200

#156

Post by Lambdanaut »

csomar wrote: post #36

If anything to like about Bitcoin is that it has proved that almost everyone else is wrong. * SilkRoad shutting down? Bitcoin is doomed. * Mt.gox is not paying in time or at all? Bitcoin doesn't work. * Asics? There will be a flood of new coins. And yet Bitcoin value continue to raise. If history repeats itself, we should see 1 Bitcoin levels at around $2,000. I think Bitcoin is an interesting phenomena to watch. Bei…

"Asics? There will be a flood of new coins."

Whoever made that argument has a fundamental misunderstanding of the pre-defined rate of Bitcoin production.

Re: Bitcoin breaks $200

#157

Post by shadowOfShadow »

TylerE wrote: post #140
gwern wrote: post #135

Earlier quoted context omitted.

> Broadcast.com sold to Yahoo for $5.7b Smells like success, not failure.

Not really. Basically everything that was Broadcast.com was shutdown within 8 years. So they basically paid $5b+ to run a service that lost money every year for a few years until they finally just quietly dissolved it. I mean, the broadcast.com guys made out like bandits , the buyers, not so much.

That's what he's saying. This is the new con and the cons are going to make out like bandits.

Re: Bitcoin breaks $200

#158

Post by pseudonym »

Lambdanaut wrote: post #156
csomar wrote: post #36

If anything to like about Bitcoin is that it has proved that almost everyone else is wrong. * SilkRoad shutting down? Bitcoin is doomed. * Mt.gox is not paying in time or at all? Bitcoin doesn't work. * Asics? There will be a flood of new coins. And yet Bitcoin value continue to raise. If history repeats itself, we should see 1 Bitcoin levels at around $2,000. I think Bitcoin is an interesting phenomena to watch. Bei…

"Asics? There will be a flood of new coins." Whoever made that argument has a fundamental misunderstanding of the pre-defined rate of Bitcoin production.

It's hard to source an argument when you're quoting strawmen.

Re: Bitcoin breaks $200

#159

Post by saym »

tslathrow wrote: post #100
_3u10 wrote: post #75

Earlier quoted context omitted.

> And yet Bitcoin value continue to raise. If history repeats itself, we should see 1 Bitcoin levels at around $2,000. It's 2007 I have a house I bought for $300,000 which is now worth $600,000, would you like to buy my house and in two years you will make another $600,000? If there's one thing about real estate in the last 10 years it's that it's proven all those naysayers like Shiller wrong.

I'm not sure we've waiting long enough for Shiller to be proved correct. If monetary policy wasn't blowing the roof out on equity valuations, we'd be seeing mean-reversion as we should.

Can you elaborate on his prediction?

Re: Bitcoin breaks $200

#160

Post by reginaldjcooper »

qoo wrote: post #115
nazgulnarsil wrote: post #72

Who wants to talk about china? Over the last few days the volume of transactions on btcchina has doubled. Gov run chinese media outlets have been surprisingly positive about btc. What is going on? One of the potential uses of btc is capital flight, and that is something that china has been incredibly strict about with their capital controls. Why aren't they clamping down? edit: some commentary from someone in china f…

The Chinese will do anything to destabilize USD

On the contrary, the massive debt owed to China is one of the few things that makes me confident about USD.
Post reply on HN