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Old 03-03-2013, 06:51 PM   #21
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Old 03-03-2013, 06:52 PM   #22
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bitcoin ATM
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Old 03-04-2013, 02:45 AM   #23
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Bet on eSports matches with Bitcion:
http://www.bit365.eu/esports
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Old 03-04-2013, 05:25 PM   #24
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Is there more than one Bitcoin? Because I stumbled across this annnnnnnd now I'm lost.
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Old 03-04-2013, 08:15 PM   #25
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Is there more than one Bitcoin? Because I stumbled across this annnnnnnd now I'm lost.
Yes and no.

That chart has prices for the different exchanges, Mt. Gox being the largest one. It also has prices in different currencies, and that's probably what's throwing you. The EU charts are pricing in Euros and the Japan charts in Yen.

There do exist other bitcoin networks separate from the original one, but they are microscopic in comparison. The biggest is probably Litecoin, which is trying "to be the silver to bitcoin's gold" and has a few permutations to it that make it different. Litecoin isn't being represented on that chart however.

The different exchanges have slightly different prices between them, but arbitrage traders between coin vendors will tend to average that out over time, and there's accounting for fees and the like.

Coinbase.com for instance simply uses Mt. Gox's current price, as it accounts for some 60% of all trade volume right now and thus tends to be the price everyone looks at. That's also why it's the top of that chart.
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Old 03-05-2013, 01:46 PM   #26
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Bitcoin just passed $40 >_>

This site will let you buy Xbox Live games using Bitcoin.
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Old 03-05-2013, 06:17 PM   #27
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There's no way it can jump that much in value in such a short time. I'll wait for the next crash and consider jumping on board.
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Old 03-05-2013, 07:45 PM   #28
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There's no way it can jump that much in value in such a short time. I'll wait for the next crash and consider jumping on board.
Read this first:

The Target Value for Bitcoin is Not Some $50 or $100 it is $100,000 - $1,000,000

Initially I thought the same thing, definitely a bubble, wait for it to crest.

But the fact is the fundamentals this time are entirely different.

The last spike and pop in 2011, most bitcoins were in very few hands, and those people had made huge returns. The spike dispersed coins into a lot of other hands.

Today, the coins are dispersed even more, and no one but professional miners can get coins anymore, using specialized ASIC rigs. You want coins, the average person must buy them.

Beyond that, two months ago the first block-mining reward halving occurred, meaning a miner who solves a block gets 25 coins instead of 50. I think the whole recent price rise corresponds to adjusting to that new reality of a supply crunch, and the crunch is permanent.

It's just a question of how over-exuberant the price will get and where it will settle again, but most people are thinking it might settle only $5 or so off its eventual high point rather than crashing to dollars again like last time.

Secondly is consumer uptake. Look at that last two charts on this page: https://blockchain.info/charts

Regular people are using bitcoin increasingly to a large degree.

And every week we've heard of a new website now accepting bitcoin, including a new domain host last night, Namecheap.com



Paypal is a billion dollar company that is now obsolete due to Bitcoin.

Beyond that, as that first article points out, online companies can save 3-5% by using bitcoin instead of other payment services like credit cards, which in many cases means an increase in profit from 50-100%! That fact alone means bitcoin is likely to sweep the web for transactions in no time! Why would companies even accept credit cards or paypal in the long-run when they can earn significantly more using bitcoin?

Also, I bought a couple grand's worth yesterday: /moneywheremymouthis

*Edit: While I was writing this Bitcoin passed $43 >_>
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Old 03-05-2013, 09:24 PM   #29
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Have you bought all of your btc through coinbase.com?
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Old 03-05-2013, 09:38 PM   #30
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I'm definitely interesting in jumping on board with this but I'd hate to dump a bunch of cash right before a crash. If I could have dumped a grand into Google stock back in the day, I'd be a very rich man right now.
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Old 03-06-2013, 12:57 AM   #31
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Have you bought all of your btc through coinbase.com?
Yes. My 10 coin / day limit was removed last week (takes a month?), made my first 100 coin purchase couple days ago, hoping it will clear without being false-flagged Should find out tomorrow.

I heard about a service re-opened today letting people buy bitcoin through Bank of America, lemme check on that...

https://ziggap.com/

Comments on this service:

http://www.reddit.com/r/Bitcoin/comm...ns_at_bank_of/
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Old 03-06-2013, 01:55 AM   #32
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$46.67 rn.
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Old 03-06-2013, 02:14 AM   #33
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Coinlab is about to come online too, which should turn into lots of new demand from US customers:

http://www.reddit.com/r/Bitcoin/comm...e_and_i_think/
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Old 03-06-2013, 02:29 PM   #34
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ANALYST: Bitcoin Took A Key Step Towards Going Mainstream, And That's Why It's Been Going Crazy The Last Two Days
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Old 03-06-2013, 02:29 PM   #35
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Wow, I didn't even know about this:

Quote:
CoinLab is a story unto itself. Last year, the company floated a proposal that would allow Bitcoins to be exchanged for in-game currency in titles like World of Warcraft or the ever-popular Second Life.

The company raised $500,000 in venture capital funding, and now that CoinLab will assume Mt. Gox’s U.S. portfolio, it stands to become the single largest global intermediary between virtual and real currency.
With that in place it could be possible to actually make a living playing games.
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Old 03-06-2013, 05:44 PM   #36
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The recent price-run ended today, as we all knew it would. On a high of $49 it's $37 as I type this. No idea where it will stabilize, enjoying the ride

This will be a good time to buy when it settles out for the next long-run up to 2017.
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Old 03-06-2013, 05:50 PM   #37
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I was actually just going to post about it dropping. I'm signing up for an account on coinbase and will probably pick up a few once I feel like the price has bottomed out. Worst case scenario, I'm out a few hundred to a grand. In the long run, it's not a detrimental lost.

Are btc tied to a specific wallet? Does buying it through coinbase tie the coins to their digital wallet?
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Old 03-06-2013, 06:38 PM   #38
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I was actually just going to post about it dropping. I'm signing up for an account on coinbase and will probably pick up a few once I feel like the price has bottomed out. Worst case scenario, I'm out a few hundred to a grand. In the long run, it's not a detrimental lost.

Are btc tied to a specific wallet? Does buying it through coinbase tie the coins to their digital wallet?
Once you buy bitcoin from Coinbase and the deal closes 5 days later (due to reversibility of bank drafts), the coins will be deposited in an address on Coinbase, and you use their website to send it to any other address you control.

So, not tied to any specific wallet.

Checkout http://www.reddit.com/r/Bitcoinwallet for various options and info.

I recommend a long-term cold-storage paper-wallet, but rather than paper etch the address+private-key on something that can survive a house-fire, like stainless steel, and keep it on hand in a safe or the like. I realized recently the perfect material for this would be a medium-quality chef's knife. Grind off the edge and etch the letters into the blade with a $10 vibro-etcher from Home Depot.

I haven't made one of those yet, still prepping for it. Right now mine are in Coinbase and I have some in Blockchain.info which is considered more secure than Coinbase in terms of online wallets.

You can also use the Armory client and store encrypted digital wallets, but I consider that risky long-term, you know? Bits can get fuzzed, you could forget the encryption password, etc.
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Old 03-06-2013, 06:42 PM   #39
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2-3 days to verify my account. It'll give me more time to watch this price. Looks like it's back up to $40 now.
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Old 03-06-2013, 07:00 PM   #40
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Back up to $42, lol, enjoy the rollercoaster, gonna be nothing but volatility for the next day or so I bet, but the mean price increase is pointing at $36, which is where I last bought too, so we'll see if it doesn't stabilize around there for a bit.
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