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Bitcoin $500

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Re: Bitcoin $500

#11

Post by swalsh »

pseudonym wrote: post #5

Correct me if I'm wrong, but isn't it impossible to withdraw USD from MtGox at this point? How can this be a viable source of BTC->USD comparison when the only thing you can do with a USD balance on MtG is buy?

Stupid question maybe, I believe I still have a few bitcoins laying around (I got them when we were speculating how crazy it would be if Mt Gox ever reached $1)

I'd like to buy a pro copy of google sketch-up, and buy some lumber at this lumberyard that is cash only.

How do I do it if i can't withdraw usd?

Re: Bitcoin $500

#12

Post by notdrunkatall »

snitko wrote: post #2

Well now it must definitely be too late to invest. Don't even think about it guys. It's a ponzi scheme slash not real money slash libertarian wet dream. I'd rather trust helicopter Ben with my savings than some obscure open source software that eats 10Gb of my disk space.

> now it must definitely be too late to invest

So said people at $3, $30, $100, etc.

Re: Bitcoin $500

#13

Post by ck2 »

What happens to the price when only people with 500Ghash/sec+ can make coins next month?

Early adopters are rightfully getting a nice reward now, but how do you get "fresh blood" when the difficulty is off the chart unless you have several thousand dollars in hardware?

Re: Bitcoin $500

#14

Post by rdl »

I'm really glad I wasn't able to figure out how to short bitcoin right after the Silk Road takedown; I would have gone broke.

Re: Bitcoin $500

#16

Post by fsniper »

swalsh wrote: post #11
pseudonym wrote: post #5

Correct me if I'm wrong, but isn't it impossible to withdraw USD from MtGox at this point? How can this be a viable source of BTC->USD comparison when the only thing you can do with a USD balance on MtG is buy?

Stupid question maybe, I believe I still have a few bitcoins laying around (I got them when we were speculating how crazy it would be if Mt Gox ever reached $1) I'd like to buy a pro copy of google sketch-up, and buy some lumber at this lumberyard that is cash only. How do I do it if i can't withdraw usd?

use coin2pal.info. I have used their service a few times and it is working. Slow but reliable process.

Re: Bitcoin $500

#18

Post by mtgx »

rdl wrote: post #14

I'm really glad I wasn't able to figure out how to short bitcoin right after the Silk Road takedown; I would have gone broke.

Shorting bitcoin sounds like very bad idea. If you're going to "invest" in Bitcoin, then going long term is definitely the way to go. Even if you invest say right now, but then Bitcoin drops to $300, it's best to keep it a year longer, and then watch it pass $1000 or whatever.

Re: Bitcoin $500

#20

Post by kmfrk »

I remember trying to buy some BTC on MtGox for fun, the last time the price crashed.

What an unspeakably horrible service. I thought I was in for hundreds of dollars over budget, but it turns out that not a single BTC was purchased at all.

I only intended to buy ~$50 worth, so I would only have earnt something like $200, but for the love of everything, stay the hell away from MtGox. It's insane how unprofessional they are.

healthcare.gov may be bad, but this is five circles of hell down from that.

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