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Deadkndys420
The Psychedelic Messiah


Registered: 05/08/12
Posts: 4,405
Loc: In the land of ooo
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Internet 'Bitcoin' Worth More Than 20 State Currencies
#18033607 - 03/30/13 03:47 PM (10 years, 9 months ago) |
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Quote:
(Newser) – There isn't any national treasury backing the bitcoin, nor does anyone have great stores of physical bitcoins lying around. Yet more than $1 billion worth of this invented currency is in circulation—more than the entire currency stock of 20 countries, Fox News reports. A single bitcoin is currently worth more than $90 US. What's the appeal? Well, some say it's because global currency markets are so unstable that bitcoins, which are distributed to people who donate web server space to the bitcoin system, seem more stable than cash.
"Because of what's going on in Cyprus and Europe, people are trying to pull their money out of banks," says BitPay CEO Tony Gallippi. "So they buy gold, they put it under the mattress, or they buy bitcoin." But others have another theory. Because bitcoin can be traded anonymously, like a digital form of cash, they believe bitcoin is fueling online black markets and drug markets. Gallippi scoffs at that concern. "With any technology," he says, "criminals are going to use it for something." TechCrunch has more background on how the system works.
Source
Man I wish I would have stocked up on them last April when they were 4-6 dollars a BTC.
-------------------- Almond Flour said: Thats right. I take it up the ass on a daily. It feels great to finally let this out
How to use PGP encryption The Stoner's Cookbook
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MushyMatt
LSD-25



Registered: 10/13/11
Posts: 2,551
Loc: Under a Mushroom
Last seen: 2 years, 2 months
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: Deadkndys420]
#18034317 - 03/30/13 06:48 PM (10 years, 9 months ago) |
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NO SHIT right?
Fuckin 70 bucks a bitcoin now..
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Reborn - 6/08/13
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Cannashroom
Smoke two Joints



Registered: 10/25/07
Posts: 2,141
Loc: Everywhere
Last seen: 6 years, 9 months
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: MushyMatt]
#18034551 - 03/30/13 07:46 PM (10 years, 9 months ago) |
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Its 92 now...
Was 15 in January. Missed the boat...
I have a feeling they might drop big soon. However if they break and hold $100 I think I will buy some.
Weekly RSI is super high, I really hope a pullback comes under $50.
-------------------- "A human being is part of the whole, called by us 'Universe'; a part limited in time and space. He experiences himself, his thoughts and feelings as something separated from the rest -- a kind of optical delusion of his consciousness. This delusion is a kind of prison for us, restricting us to our personal desires and affection for a few persons nearest us. Our task must be to free ourselves from this prison by widening our circle of compassion to embrace all living creatures and the whole nature in its beauty. Nobody is able to achieve this completely but striving for such achievement is, in itself, a part of the liberation and a foundation for inner security." Albert Einstein
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bryguy27007
Cosmonaut



Registered: 01/26/08
Posts: 10,525
Loc:
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: Cannashroom]
#18036360 - 03/31/13 07:00 AM (10 years, 9 months ago) |
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God damn it I wish I didn't sell mine.
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Dorian Gray
▐═██████═───



Registered: 08/31/10
Posts: 5,152
Loc: triple k mafia
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: Cannashroom] 2
#18041442 - 04/01/13 07:43 AM (10 years, 9 months ago) |
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BUTTCOINS
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egodeathflux
Guttersnipe



Registered: 02/02/10
Posts: 3,854
Loc: The Stygian Pits
Last seen: 1 year, 2 months
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: Dorian Gray]
#18041458 - 04/01/13 07:48 AM (10 years, 9 months ago) |
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I had 40 or so at the end of last year and spent them for the sake of it.. This has to end though, there will be a massive collapse at some point when people start selling in large amounts to cash in, when they drop back to a reasonable level it will be worth buying some and waiting for this to happen again, by far the best long term return you are likely to get given current interest rates.
-------------------- "Atrophic interludes weave through my life far too often, for me to fight the biggest enemies" "Standing on the corner of 5th and Vermouth"
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mpd
Lammen Gorthaur



Registered: 10/22/12
Posts: 9,660
Loc: Mostly at home... Mostly....
Last seen: 8 years, 7 months
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: egodeathflux]
#18042217 - 04/01/13 12:47 PM (10 years, 9 months ago) |
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It's over a hundred dollars today. The funny part is that people believe this is not fiat money. It is. It is tied to all currencies, of which all are fiat. Once the market fully realizes this reality the price will plummet to something closer to parity with all other currencies because it requires faith and not underlying economic activity to support the price value. That means it is going to be sold short at some point by people like that Greek asshole Soros and then there will be a whole lot of people who get burned. I limit my use to what is required so that I can buy drugs on Silk Road. I don't think they are an investment opportunity beyond anyone's ability to time the market price.
-------------------- There is no truer calling for mankind than that of true conservatism.
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TurkeyTom
Trippy



Registered: 08/02/11
Posts: 2,435
Last seen: 2 years, 2 months
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: mpd]
#18042556 - 04/01/13 02:36 PM (10 years, 9 months ago) |
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I just use em for the road. Can't even find a reliable place to get some anymore though
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Deadkndys420
The Psychedelic Messiah


Registered: 05/08/12
Posts: 4,405
Loc: In the land of ooo
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: TurkeyTom]
#18042685 - 04/01/13 03:28 PM (10 years, 9 months ago) |
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Quote:
TurkeyTom said: I just use em for the road. Can't even find a reliable place to get some anymore though
Have you tried bitinstant?
-------------------- Almond Flour said: Thats right. I take it up the ass on a daily. It feels great to finally let this out
How to use PGP encryption The Stoner's Cookbook
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TurkeyTom
Trippy



Registered: 08/02/11
Posts: 2,435
Last seen: 2 years, 2 months
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: Deadkndys420]
#18043795 - 04/01/13 08:28 PM (10 years, 9 months ago) |
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Yeah they've been having problems and have screwed me over, I don't trust them anymore
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tito123


Registered: 01/23/10
Posts: 3,006
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: TurkeyTom]
#18044193 - 04/01/13 10:10 PM (10 years, 9 months ago) |
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Would now be a good time to get rid of the coins or should I keep saving? I only have a small bit.
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NWlight
Just look


Registered: 01/12/10
Posts: 18,686
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: TurkeyTom]
#18044387 - 04/01/13 11:08 PM (10 years, 9 months ago) |
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Quote:
TurkeyTom said: Yeah they've been having problems and have screwed me over, I don't trust them anymore
I've transferred over $2500 in small increments, always works perfectly.
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TurkeyTom
Trippy



Registered: 08/02/11
Posts: 2,435
Last seen: 2 years, 2 months
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: NWlight]
#18044399 - 04/01/13 11:13 PM (10 years, 9 months ago) |
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Quote:
NWlight said:
Quote:
TurkeyTom said: Yeah they've been having problems and have screwed me over, I don't trust them anymore
I've transferred over $2500 in small increments, always works perfectly.
Lately? They were recently hacked or something and were down for a long time. I had success with them once but one time I accidentally put in the wrong email address to send the coins to. I told them about the issue. Didn't hear anything back. When I finally got a hold of them they kept saying they would get me the coins but after 4 weeks of constantly dealing with them I never received them
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Ogla



Registered: 02/16/04
Posts: 11,314
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: TurkeyTom]
#18044643 - 04/02/13 12:29 AM (10 years, 9 months ago) |
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Bitcoins were 80 cents when I first started looking at em. Almost bought some a month or so back when they were 12 bucks. It's crazy to think i could've potentially invested money in this as if it were stock. Only going up from here
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NWlight
Just look


Registered: 01/12/10
Posts: 18,686
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: TurkeyTom]
#18044768 - 04/02/13 01:25 AM (10 years, 9 months ago) |
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Quote:
TurkeyTom said:
Quote:
NWlight said:
Quote:
TurkeyTom said: Yeah they've been having problems and have screwed me over, I don't trust them anymore
I've transferred over $2500 in small increments, always works perfectly.
Lately? They were recently hacked or something and were down for a long time. I had success with them once but one time I accidentally put in the wrong email address to send the coins to. I told them about the issue. Didn't hear anything back. When I finally got a hold of them they kept saying they would get me the coins but after 4 weeks of constantly dealing with them I never received them
The point of bitcoins is not fucking up. Their nature requires an extra degree of carefulness.
I don't see where they did anything wrong :/
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unknown1123
Experimental

Registered: 05/15/08
Posts: 5,813
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: TurkeyTom]
#18047152 - 04/02/13 03:18 PM (10 years, 9 months ago) |
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Quote:
TurkeyTom said:
Quote:
NWlight said:
Quote:
TurkeyTom said: Yeah they've been having problems and have screwed me over, I don't trust them anymore
I've transferred over $2500 in small increments, always works perfectly.
Lately? They were recently hacked or something and were down for a long time. I had success with them once but one time I accidentally put in the wrong email address to send the coins to. I told them about the issue. Didn't hear anything back. When I finally got a hold of them they kept saying they would get me the coins but after 4 weeks of constantly dealing with them I never received them
Not hacked, they are going to follow the federal regulations, bitinstant said they would cooperate with any feds so they can keep their extremely profitable site up...
I used them before they went down for a long time and used bitfloor one time and will never go back. bitfloor is great and FAST. You might pay an extra 5 bucks per coin if you time it wrong but pretty much zero fees and super fast
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sum_peeps
Psychedelic Connoisseur



Registered: 12/12/11
Posts: 587
Last seen: 10 years, 9 months
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: unknown1123]
#18048168 - 04/02/13 06:13 PM (10 years, 9 months ago) |
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I just made about like 30 bucks in 3 days thanks to bitcoin and it's still steadily climbing
-------------------- A child's rhyme stuck in my head. It said that life is but a dream. I've spent so many years in question to find I've known this all along. ~ '][' {[]} {[]} {[_,

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chopstick
nobody



Registered: 07/26/08
Posts: 5,079
Loc: Chin's Wok
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: sum_peeps]
#18049412 - 04/02/13 09:56 PM (10 years, 9 months ago) |
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Some people are making tens of thousands of $$$ off this insanity..
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Ogla



Registered: 02/16/04
Posts: 11,314
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: chopstick]
#18050139 - 04/03/13 12:09 AM (10 years, 9 months ago) |
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Only problem is that they cost so much now that I would never think of buying any. I can only dream about how I should've bought some :c
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akira_akuma
Φύσις κρύπτεσθαι ὕψιστος φιλεῖ


Registered: 08/28/09
Posts: 82,455
Loc: Onypeirophóros
Last seen: 4 years, 29 days
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: Ogla]
#18051009 - 04/03/13 06:32 AM (10 years, 9 months ago) |
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LOL, money
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Cannashroom
Smoke two Joints



Registered: 10/25/07
Posts: 2,141
Loc: Everywhere
Last seen: 6 years, 9 months
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: akira_akuma]
#18053221 - 04/03/13 04:15 PM (10 years, 9 months ago) |
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Hoping for a big crash coming up soon. The weekly RSI is at 99. I mean, cmon now overbought much? I guess bitcoin traders don't use technicals like stock traders do.
I hope there is a big crash and a bottom around $30-50. That would be good for a strong future, chart needs time to cool off IMO. But this is complete madness.
-------------------- "A human being is part of the whole, called by us 'Universe'; a part limited in time and space. He experiences himself, his thoughts and feelings as something separated from the rest -- a kind of optical delusion of his consciousness. This delusion is a kind of prison for us, restricting us to our personal desires and affection for a few persons nearest us. Our task must be to free ourselves from this prison by widening our circle of compassion to embrace all living creatures and the whole nature in its beauty. Nobody is able to achieve this completely but striving for such achievement is, in itself, a part of the liberation and a foundation for inner security." Albert Einstein
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chopstick
nobody



Registered: 07/26/08
Posts: 5,079
Loc: Chin's Wok
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: Cannashroom]
#18053625 - 04/03/13 05:30 PM (10 years, 9 months ago) |
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Yeah, except it might go all the way up to 300 first..
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Shins
Fun guy



Registered: 09/15/04
Posts: 16,337
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: Cannashroom]
#18053697 - 04/03/13 05:44 PM (10 years, 9 months ago) |
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Quote:
Cannashroom said: Hoping for a big crash coming up soon. The weekly RSI is at 99. I mean, cmon now overbought much? I guess bitcoin traders don't use technicals like stock traders do.
Most traders dont make decisions based on technical analysis, they make them because of market fundamentals.
the deductive reasoning of understanding the fundamentals is often better than the inductive reasoning of technical analysis.
inductive signs don't always mesh with overall reality and market fundamentals.
Quote:
I hope there is a big crash and a bottom around $30-50. That would be good for a strong future, chart needs time to cool off IMO. But this is complete madness.
I wouldnt say its madness.
there are a lot of people in europe especially buying bitcoins because of sovereign credit default and austerity risk.
once more people start to realize that these problems are global and only getting worse i think that more people will buy things like bitcoins.
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John Nada
Toujours Frais

Registered: 03/03/03
Posts: 97,746
Loc: Hotwings; race car
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: Shins]
#18053887 - 04/03/13 06:16 PM (10 years, 9 months ago) |
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I heard it fell $30 overnight, is this true? What's a good site for monitoring the current price or price trend?
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sum_peeps
Psychedelic Connoisseur



Registered: 12/12/11
Posts: 587
Last seen: 10 years, 9 months
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: John Nada]
#18053910 - 04/03/13 06:21 PM (10 years, 9 months ago) |
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www.mtgox.com but there chart seems to be glitching right now.
-------------------- A child's rhyme stuck in my head. It said that life is but a dream. I've spent so many years in question to find I've known this all along. ~ '][' {[]} {[]} {[_,

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chopstick
nobody



Registered: 07/26/08
Posts: 5,079
Loc: Chin's Wok
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: sum_peeps]
#18053953 - 04/03/13 06:29 PM (10 years, 9 months ago) |
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http://bitcoinity.org/markets
price went down due to mt gox (the primary bitcoin exchange..) having serious lag issues and all orders being canceled. It has since rebounded back up almost to where it was.
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John Nada
Toujours Frais

Registered: 03/03/03
Posts: 97,746
Loc: Hotwings; race car
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: chopstick]
#18054029 - 04/03/13 06:45 PM (10 years, 9 months ago) |
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Awesome, thanks. I don't want to buy in now though, as it seems its a pretty even chance between it bursting and growing at this point.
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NWlight
Just look


Registered: 01/12/10
Posts: 18,686
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: John Nada]
#18054901 - 04/03/13 09:22 PM (10 years, 9 months ago) |
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Quote:
MaxFresh said: Awesome, thanks. I don't want to buy in now though, as it seems its a pretty even chance between it bursting and growing at this point.
Bitcoin right now = 
The problem is the uniqueness of the situation.... a totally anonymous currencty. it's essentially an experiment and people are betting either way.
strong arguments for and against.
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Makaveli
OG
Registered: 04/01/99
Posts: 1,700
Loc: NY
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: NWlight]
#18102315 - 04/13/13 11:38 AM (10 years, 9 months ago) |
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I HAD 3,000 BIT COINS IN MY SR ACCOUNT WHEN THEY WERE $4 A PIECE
so theoretically 3,000 bitcoins x (at their height of $260) = $780,000
Even off the petty 3 bitcoins I had in my account I made nice little profit.
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something cool
meandering


Registered: 01/30/12
Posts: 1,306
Last seen: 7 years, 3 months
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: Makaveli]
#18103871 - 04/13/13 05:05 PM (10 years, 9 months ago) |
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Haha, that sucks. I was similarly careless earlier on, though. LTC is our second chance.
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NWlight
Just look


Registered: 01/12/10
Posts: 18,686
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: something cool]
#18104492 - 04/13/13 06:50 PM (10 years, 9 months ago) |
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I made enough to buy a car in less than a week 
totally on accident. I had a buttload of coins in escrow and what do you know, the vendor never logs in so i cancelled the order as soon as I could.
profit
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akira_akuma
Φύσις κρύπτεσθαι ὕψιστος φιλεῖ


Registered: 08/28/09
Posts: 82,455
Loc: Onypeirophóros
Last seen: 4 years, 29 days
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: NWlight]
#18104506 - 04/13/13 06:52 PM (10 years, 9 months ago) |
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holy dog shit. a car. you lucky bastard.
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something cool
meandering


Registered: 01/30/12
Posts: 1,306
Last seen: 7 years, 3 months
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: NWlight]
#18106657 - 04/14/13 04:43 AM (10 years, 9 months ago) |
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I woulda too, if I'd cashed out at the apex before the crash. It'll get back up there, but I wish I'd sold at least something so I could buy a lot more at the bottom. I'm mostly in LTC at the moment, figure it has larger upward growth space, and is overall superior is ability to BTC due to its faster transaction times. I think it might eventually surpass BTC, as long as more institutions start accepting it.
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LysergicX7
Lunatic



Registered: 11/11/12
Posts: 1,206
Loc: Montana, USA
Last seen: 1 month, 16 days
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: something cool]
#18200139 - 05/01/13 11:13 PM (10 years, 8 months ago) |
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Can anybody give me a rundown on the stability of bitcoin? Is it safe to buy now?
-------------------- “Everybody is fundamentally, the ultimate reality. Not god in the political kingly sense, but god in the sense of being the self – the deep down basic whatever there is. And you’re all that… only you’re pretending you’re not.” -Alan Watts I think that in human evolution it has never been as necessary to have this substance LSD. It is just a tool to turn us into what we are supposed to be.” ― Albert Hofmann
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NWlight
Just look


Registered: 01/12/10
Posts: 18,686
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: LysergicX7]
#18200454 - 05/02/13 12:33 AM (10 years, 8 months ago) |
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Quote:
LysergicX7 said: Can anybody give me a rundown on the stability of bitcoin? Is it safe to buy now?
it depends on whether you are trying to buy it as an investment or just as a medium to buy something illegal (let's be honest here).
if you aren't investing in bitcoin then even the most wild fluctuations don't affect you.... just buy the bitcoins, immediately transfer to your BTC wallet (probably a drug marketplace if I'm not mistaken) and place your order.
the whole process takes MAYBE 5 hours.
and really how much will the value change in that much time? hardly any at all.
so if you are still worried about the fluctuation in value, just only buy from a vender who hedges your escrow in USD then the fluctuation won't matter...
and when you buy the bitcoin make sure that you add about 20-30 extra dollars on top of what you intended to purchase.
that way you either a) have enough and some change or b) have enough left over to buy something cheap like an edible or god knows what.
TLDR: if you aren't using bitcoin as an investment but rather an anonymous currency to buy drugs (let's be honest here) just buy the bitcoins and then buy the drugs ASAP so that the change in bitcoin value will be irrelevant...
I always throw in an extra 20-30 dollars just to make sure I won't be short BTC when I try and make the purchase.
nothing is worse than the value of a bitcoin going down in value slightly over the course of a few hours and then being like literally 3 dollars short of being able to buy something 
me with any other questions you have, i'm pretty familiar with how all this works,
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LysergicX7
Lunatic



Registered: 11/11/12
Posts: 1,206
Loc: Montana, USA
Last seen: 1 month, 16 days
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: NWlight]
#18215472 - 05/04/13 09:43 PM (10 years, 8 months ago) |
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Thanks homie, pretty much answered my Q. I'm just buying some goodies, so thanks
"nothing is worse than the value of a bitcoin going down in value slightly over the course of a few hours and then being like literally 3 dollars short of being able to buy something" yeah i've always done that just in case. And then i usually end up having 10 or 15 extra bucks to blow on a cookie or something :P
-------------------- “Everybody is fundamentally, the ultimate reality. Not god in the political kingly sense, but god in the sense of being the self – the deep down basic whatever there is. And you’re all that… only you’re pretending you’re not.” -Alan Watts I think that in human evolution it has never been as necessary to have this substance LSD. It is just a tool to turn us into what we are supposed to be.” ― Albert Hofmann
Edited by LysergicX7 (05/04/13 09:44 PM)
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NWlight
Just look


Registered: 01/12/10
Posts: 18,686
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: LysergicX7]
#18220876 - 05/06/13 01:20 AM (10 years, 8 months ago) |
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Quote:
LysergicX7 said: Thanks homie, pretty much answered my Q. I'm just buying some goodies, so thanks
"nothing is worse than the value of a bitcoin going down in value slightly over the course of a few hours and then being like literally 3 dollars short of being able to buy something" yeah i've always done that just in case. And then i usually end up having 10 or 15 extra bucks to blow on a cookie or something :P
haha somethin bout those edibles man, they are def. the best way to blow your last 10-20.
and the remaining 2-3 dollars goes towards the lotteries
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RonaldFuckingPaul
Our Dear Leader



Registered: 10/31/07
Posts: 13,617
Loc: Straight Outta Compton
Last seen: 9 years, 5 months
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Re: Internet 'Bitcoin' Worth More Than 20 State Currencies [Re: NWlight]
#18252929 - 05/12/13 12:36 PM (10 years, 8 months ago) |
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Bitcoin is 115.10 USD right now.
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