Bitcoin nearing $800/BTC • Hacker News Board

Re: Bitcoin nearing $800/BTC

#11

Post by matthunch » Tue, Nov 19, 2013, 12:38 AM UTC

Sorry, havn't kept myself update on BTC lately. What could be the reason for such quick rise in its value?

Re: Bitcoin nearing $800/BTC

#12

Post by ye » Tue, Nov 19, 2013, 12:39 AM UTC

jluxenberg wrote: post #3

If USD/BTC goes slightly above $1,000, it will be profitable to mine on EC2 GPU instances. edit: Forgot to mention, only profitable with Spot instances which are significantly cheaper than the on-demand rate.

BTC just crossed $1032 in China

http://i.imgur.com/etPRM0q.png

Re: Bitcoin nearing $800/BTC

#13

Post by calinet6 » Tue, Nov 19, 2013, 12:39 AM UTC

tocomment wrote: post #10

Is this site no longer working? http://realtimebitcoin.info/ What's the best site to bookmark for a simple real time price quote?

http://bitcoin.clarkmoody.com/

Re: Bitcoin nearing $800/BTC

#14

Post by gcv » Tue, Nov 19, 2013, 12:39 AM UTC

Is it actually possible to sell BTC held in a random wallet and withdraw the proceeds as USD? I'm not familiar with the intricacies of the various exchanges, and am wondering if it is truly a convertible currency. (Assume that selling ~500 BTC would not move the market.)

Re: Bitcoin nearing $800/BTC

#15

Post by power2u » Tue, Nov 19, 2013, 12:40 AM UTC

Arguably, A good time to invest in litecoin too. It has almost touched $10.

Re: Bitcoin nearing $800/BTC

#16

Post by tocomment » Tue, Nov 19, 2013, 12:43 AM UTC

calinet6 wrote: post #13

tocomment wrote: post #10

Is this site no longer working? http://realtimebitcoin.info/ What's the best site to bookmark for a simple real time price quote?

http://bitcoin.clarkmoody.com/

Yikes that totally is not working on the iphone.

Re: Bitcoin nearing $800/BTC

#17

Post by ye » Tue, Nov 19, 2013, 12:44 AM UTC

gcv wrote: post #14

Is it actually possible to sell BTC held in a random wallet and withdraw the proceeds as USD? I'm not familiar with the intricacies of the various exchanges, and am wondering if it is truly a convertible currency. (Assume that selling ~500 BTC would not move the market.)

Yeah, you just register on an exchange, deposit your BTC, trade them into USD and withdraw USD.

I just did this with BTC-E.com today.

Re: Bitcoin nearing $800/BTC

#18

Post by McGlockenshire » Tue, Nov 19, 2013, 12:46 AM UTC

tocomment wrote: post #10

Is this site no longer working? http://realtimebitcoin.info/ What's the best site to bookmark for a simple real time price quote?

Bitcoinity's site is probably one of the better ones.

http://bitcoinity.com/markets

You need to watch the other US exchanges as well, not just MtGox. It's basically impossible to get USD from MtGox right now, making it a very poor benchmark for the actual exchange rate.

Re: Bitcoin nearing $800/BTC

#19

Post by strick » Tue, Nov 19, 2013, 12:46 AM UTC

tocomment wrote: post #10

Is this site no longer working? http://realtimebitcoin.info/ What's the best site to bookmark for a simple real time price quote?

I think an HN person made this one recently http://pricebtc.com/

Re: Bitcoin nearing $800/BTC

#20

Post by McGlockenshire » Tue, Nov 19, 2013, 12:48 AM UTC

This is both the worst and best thing to happen to Bitcoin.

It's good because more and more people are learning about Bitcoin. It's never going to stand a chance without mindshare (ignoring any other problems it has).

It's bad because when this bubble bursts, the resulting backlash from people "investing" in it (instead of using it as a currency) is going to put people off.