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Bitcoin $500

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Re: Bitcoin $500

#21

Post by nwh »

fsniper wrote: post #16
swalsh wrote: post #11

Earlier quoted context omitted.

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.

Who runs this exactly? What are the chances you get paid with a stolen PayPal account?

Re: Bitcoin $500

#22

Post by thomasz »

mtgx wrote: post #18
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.

Or watch it fall below $10.

Re: Bitcoin $500

#23

Post by etherael »

shocks wrote: post #9
joosters wrote: post #6

Earlier quoted context omitted.

So who's using it then?

It's very easy to withdraw from MtGox with Japanese and Chinese currencies. BTCChina is very close to GoxUSD in terms of price. The MtGox price is actually pretty accurate, bitstamp is the one that is lagging behind.

So can you swift/iban jpy to your bank from gox and expect a good turnaround time?

Re: Bitcoin $500

#24

Post by singular »

For those who are interested, pleasingly it's considerably easier to buy/sell btc in the UK these days, [32] and [33] are very functional - I used [32] to buy coins and then [33] to sell some just today. [33] looks much better value both ways but [32] is about as easy as it gets.

* Using comedy numbering scheme in reference to [1337].

[32]:https://bittylicious.com/ [33]:https://localbitcoins.com/ [1337]:https://news.ycombinator.com/item?id=6747373

Re: Bitcoin $500

#25

Post by jnbiche »

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?

Register with Bitstamp, provide paperwork (passport + U.S. drivers license is probably best bet), wait a few days for them to process, sell Bitcoins, wire transfer to your U.S. bank account, wait ~ 5 days to clear, profit!

Once you've done this once, everything will go a lot faster next time.

Don't bother with mtgox, there's a reason why there's such a price discrepancy and we all use Bitstamp as the real exchange rate.

EDIT: I just read elsewhere that mtgox is still highly liquid if you're in Japan or China, which means that there may be a good reason for the price discrepancy (high demand in China). But don't bother with gox if you're in the U.S.

Re: Bitcoin $500

#26

Post by sturmeh »

notdrunkatall wrote: post #12
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.

I came across this in my chat log history today, on a friend who I rarely message.

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

Re: Bitcoin $500

#27

Post by sturmeh »

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.

It's not a ponzi scheme by definition, and you don't need to have a copy of the block chain on your harddrive.

Re: Bitcoin $500

#28

Post by VexXtreme »

kmfrk wrote: post #20

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 the…

I find that many companies related to Bitcoin are extremely unprofessional and they still run their businesses like 3 years ago when Bitcoin was just an internet novelty and not a real currency the way it is today.

Just look at the latest Blockchain fiasco where the guy who runs the company got butthurt over some Reddit comments and got involved in a flame war. MtGox's lack of professionalism is just the tip of the iceberg.

I love BTC and I wish it would take off in a major way, but in order for that to happen people with shitty attitude need to stop running the community. I guess this is why regulation exists in the real world... oh well...

Re: Bitcoin $500

#30

Post by kmfrk »

VexXtreme wrote: post #28
kmfrk wrote: post #20

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 the…

I find that many companies related to Bitcoin are extremely unprofessional and they still run their businesses like 3 years ago when Bitcoin was just an internet novelty and not a real currency the way it is today. Just look at the latest Blockchain fiasco where the guy who runs the company got butthurt over some Reddit comments and got involved in a flame war. MtGox's lack of professionalism is just the tip of the i…

Definitely, which is why I tried to just buy a few (fractions of) bitcoins just for the historical fun of it, but as intensely skeptical I am of all the bitcoin craze, I was still shocked at just how awful MtGox is. I mean, I wouldn't be surprised if I could code something better.

Just to tell people that as amateurish as they may think these exchanges are, it's actually much worse.

Makes you wonder how a company like CoinBase even got funded by YC, come to think of it.

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