31–40 of 152 posts
Anyone join any mining pools lately now that prices are increasing? I figured there would be a pretty serious drop after the 50 to 25 drop, but there seems to be some dedicated miners still out there. Looks like brand new FPGA boxes are coming out for it as well.
The fact that Bitcoin has flourished despite numerous high profile incidents of theft and fraud, the relative difficulty associated with buying and selling them, and the rather unsavory nature of many of its most popular uses today, is a testament to its long-term viability as a currency. The Bitcoin ecosystem has a long way to go before it is considered mainstream, but I believe its long-term success is almost inevi…
Are you sure its not proof that there's a huge market for an internet based currency and despite all of bitcoin's issues it is still growing?
My personal opinion is that Bitcoin is popular because it makes money more flexible, and enables people to take absolute control over their money - in the same way that the mp3 standard enabled them to take control of their music.
Anyone join any mining pools lately now that prices are increasing? I figured there would be a pretty serious drop after the 50 to 25 drop, but there seems to be some dedicated miners still out there. Looks like brand new FPGA boxes are coming out for it as well.
Not FPGA, but ASIC. Mining with a GPU is fairly useless now unless you've a warehouse of them and free power.
The fact that Bitcoin has flourished despite numerous high profile incidents of theft and fraud, the relative difficulty associated with buying and selling them, and the rather unsavory nature of many of its most popular uses today, is a testament to its long-term viability as a currency. The Bitcoin ecosystem has a long way to go before it is considered mainstream, but I believe its long-term success is almost inevi…
It says to me that there is a large amount of speculation. As a currency, Bitcoin is basically useless except for illicit transactions (which are usually pretty inefficient anyway). Would you use dollars if the value of a dollar could change by hundreds of percentage points in a few months? No one would.
Earlier quoted context omitted.
Just make a free Coinbase (YC S12) account and click the buy button. Couldn't be easier. http://i.imgur.com/Yym66Gv.png
Coinbase was a giant waste of time for me. I signed up a week ago and its been a mostly crap experience. Would not recommend. Im using mtgox now and its a much more streamlined experience. . Here was my coinbase timeline- Keep in mind I verified my account, did 2 step auth, everything. About as normal a user as possible. They make buying bitcoins near impossible. 1: Create a account and link it with a US bank. I am l…
Can someone tell me if I should invest in this right now or not or did I miss the boat and I should just move on?
I say that because investing has different skill levels and different risk/reward profiles. The lowest level is perhaps savings accounts and CDs and at the most extreme end are derivative financial instruments. Long before you get to currency speculation you go through equity value investing, bond investing, and equity option investing. After going through those things you get to commodities, precious metals (a form of commodity) and then currencies.
So to ask the question "should I invest in this right now?" doesn't make a lot of sense to an investor who is always looking at what they have invested, the risks of those investments, and the forces that move things. If you are wondering what the outlook is for price expansion of bitcoin relative to the Yen or Yuan, or what geo-political events are most likely to move the value of bitcoin and in which way, then you are looking at the investment in context and really the only answer is one with your other context which isn't part of your question. If you portfolio was a million dollars and you wanted to put $10K into bitcoin as a 'kicker' (something that would potentially kick up a big return but if you lost it in its entirety it would only represent 1% of the return. That's an interesting question. It has far more downside than upside at this point.
The fact that Bitcoin has flourished despite numerous high profile incidents of theft and fraud, the relative difficulty associated with buying and selling them, and the rather unsavory nature of many of its most popular uses today, is a testament to its long-term viability as a currency. The Bitcoin ecosystem has a long way to go before it is considered mainstream, but I believe its long-term success is almost inevi…
It says to me that there is a large amount of speculation. As a currency, Bitcoin is basically useless except for illicit transactions (which are usually pretty inefficient anyway). Would you use dollars if the value of a dollar could change by hundreds of percentage points in a few months? No one would.
Besides, illicit transactions are still transactions.
And.. you are just plain wrong. Bitcoin is also useful for buying many completely legal things. Including a VPN that can't be linked to your identity. (Illicit you say? What about a journalist in a repressive regime).
The fact that Bitcoin has flourished despite numerous high profile incidents of theft and fraud, the relative difficulty associated with buying and selling them, and the rather unsavory nature of many of its most popular uses today, is a testament to its long-term viability as a currency. The Bitcoin ecosystem has a long way to go before it is considered mainstream, but I believe its long-term success is almost inevi…
Earlier quoted context omitted.
Just make a free Coinbase (YC S12) account and click the buy button. Couldn't be easier. http://i.imgur.com/Yym66Gv.png
Coinbase was a giant waste of time for me. I signed up a week ago and its been a mostly crap experience. Would not recommend. Im using mtgox now and its a much more streamlined experience. . Here was my coinbase timeline- Keep in mind I verified my account, did 2 step auth, everything. About as normal a user as possible. They make buying bitcoins near impossible. 1: Create a account and link it with a US bank. I am l…
Here's how buying them through Coinbase went...
1. Signed up and linked my bank account
2. Bought bitcoins the same day (at their price on that day)
3. 5 days later they were available for me to use
Admittedly, these were smaller purchases. I'm not quite ready to start buying bitcoins by the hundreds.