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Bitcoins in light of recent events
    #18930981 -

Interested in making a small investment in bitcoins in light of recent events (I heard the price dropped -- buy low sell high). However, I'm totally unfamiliar with this territory. What are some websites that I can shop around in? Also, I need to download a wallet, and that's all right?


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AI Thread

Northerner said:
I agree psilocybin is smokable though.

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Re: Bitcoins in light of recent events [Re: s240779]
    #19000361 -

Yes, they dropped briefly but then shot up higher than before. They are now around $176 on mt gox


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755

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Re: Bitcoins in light of recent events [Re: s240779]
    #19000434 -

Thanks.


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Northerner said:
I agree psilocybin is smokable though.

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Re: Bitcoins in light of recent events [Re: Stonehenge]
    #19002963 -

I heard some place advertising on the am radio.  Then a friend asked me.  I thought it was fucked, but apparently not.

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Re: Bitcoins in light of recent events [Re: s240779]
    #19009113 -

Forgive me for asking such a naive question, but what is the mechanism by which the price raises?


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Northerner said:
I agree psilocybin is smokable though.

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Re: Bitcoins in light of recent events [Re: s240779]
    #19009124 -

Da2ra said:
Forgive me for asking such a naive question, but what is the mechanism by which the price raises?


Supply and Demand

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Re: Bitcoins in light of recent events [Re: ChinChiller]
    #19009137 -

I don't understand how there can be one set price if many people sell them.


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AI Thread

Northerner said:
I agree psilocybin is smokable though.

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Re: Bitcoins in light of recent events [Re: s240779]
    #19009163 -

There isn't a set price between all the exchanges, but some currency exchanges are more popular than others...so people look to them to get an understanding of where the market is going.

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Re: Bitcoins in light of recent events [Re: s240779]
    #19010027 -

Da2ra said:
I don't understand how there can be one set price if many people sell them.


There is always a bid (from those looking to purchase) and an offer (from those looking to sell).  The difference between the two is known as the spread.  This is how all currency exchange and barter markets (such as the stock market) function.  When buyers are more aggressive than sellers, sellers begin to raise their offer price as buyers continue to raise their bids, which causes the price to increase.  Inversely, when sellers are more aggressive than buyers they will reduce their offer as buyers are more conservative on their bid, thus causing the price to decrease.


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┼ ··∙   long live the shroomery  ∙·· ┼
...╬π╥ ╥π╬...

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Re: Bitcoins in light of recent events [Re: geokills]
    #19021116 -

Thanks, but I still don't understand how it works. For example, I watched a video* on currency exchange and in the video, the woman said that if Toyota had to convert 10 billion USD to 1 trillion JPY, that would be a good example of the value of japanese yen increasing. ...Not understanding why.


*An introduction to the basics of Forex Trading


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AI Thread

Northerner said:
I agree psilocybin is smokable though.

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Re: Bitcoins in light of recent events [Re: s240779]
    #19030540 -

Da2ra said:
Thanks, but I still don't understand how it works. For example, I watched a video* on currency exchange and in the video, the woman said that if Toyota had to convert 10 billion USD to 1 trillion JPY, that would be a good example of the value of japanese yen increasing. ...Not understanding why.


*An introduction to the basics of Forex Trading


Because they are buying 1T of yen, more demand = higher price.


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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755

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Re: Bitcoins in light of recent events [Re: Stonehenge]
    #19042872 -

This is still the time to be buying into bitcoin IMO.

I got in when it was around $2, and I've seen 10,000% profit since. I have no reason to think this won't continue given the limit of 21 million to ever exist.

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Re: Bitcoins in light of recent events [Re: torpex]
    #19073881 -

So can you just go to a website and buy bitcoins? What would be the minimum investment needed to actually make money? I still don't quite understand what it actually is outside of a digital currency.

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Re: Bitcoins in light of recent events [Re: Thecrimson]
    #19084248 -

http://preev.com/
^^ Monitor the price with this site. Keep in mind there are other exchanges that track the price of a BTC... so you may get a better price on a from a different market.

Coinbase is an example of a bitcoin wallet that you can actually purchase BTC with USD.


http://www.ebay.com/sch/i.html?_trksid=p2050601.m570.l1313.TR10.TRC0.A0.Xbuy+bitcoin&_nkw=buy+bitcoin&_sacat=0&_from=R40

^^Back in the day you could buy lots of BTC from Ebay at good prices...


If you decide you want to mine BTC, keep in mind the climbing difficulty increases... you'll want something ASIC based that can do atleast 50 GH/s. Anything less and good luck getting ROI in your favor.


http://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home
^^Interesting story. Imagine this was you!


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KTHXBai2YoU

Horse_Meister


Life is what happens while you're busy making other plans.

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Re: Bitcoins in light of recent events [Re: Horse_Meister]
    #19085994 -

Cheapest way to buy would probably be locally through craigslist.  These days Mt. Gox has diminishing influence and its quote is usually a little high.  I think that BitPay reflects a more fair price than Mt. Gox.

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Re: Bitcoins in light of recent events [Re: DieCommie] * 1
    #19086340 -

DieCommie said:
Cheapest way to buy would probably be locally through craigslist.  These days Mt. Gox has diminishing influence and its quote is usually a little high.  I think that BitPay reflects a more fair price than Mt. Gox.


Diecommie returns!!


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