• Hey, guest user. Hope you're enjoying NeoGAF! Have you considered registering for an account? Come join us and add your take to the daily discourse.

Bitcoin price skyrockets, crashes, rinse, repeat, internet starts investing in tulips

P

Poimandres

Member
Alright, that fucking tears it. I want some LTC. I live in Australia.

Can someone please direct me to a guide on how to go about getting in on this? I wouldn't mind mining some as well (provided it doesn't melt your GPU or something).
 
T

TheExodu5

Banned
criesofthepast said:
Vault of Satoshi prices are a like 10% higher. CaVirtex is Canadian and more in line with BTC-E prices. My opinion if your buying litecoins? Or just an opinion to think about. CAVIRTEX Buy bitcoins>>>Send to BTCE>>>>Buy litecoins with bitcoins on btce>>>>>eventually sell on satoshi.

Satoshi is new so prices will take a while to adjust to the other exchanges. They are going to start accepting Canadian dollars in the next week or two as well.
Click to expand...

Yeah, though 2 days processing, sadly. Might end up missing out on more due to that.

We'll see how things look in the morning.
 
-COOLIO-

-COOLIO-

The Everyman
Poimandres said:
Alright, that fucking tears it. I want some LTC. I live in Australia.

Can someone please direct me to a guide on how to go about getting in on this? I wouldn't mind mining some as well (provided it doesn't melt your GPU or something).
Click to expand...

i vote for a litecoin mining OT!
 
W

whitehawk

Banned
-COOLIO- said:
i vote for a litecoin mining OT!
Click to expand...
dUEAT3U.jpg


criesofthepast said:
$40 a litecoin now. I really wanted to buy more. I'm up $3000 in a day though with the ones I bought at $14. Damn.
Click to expand...
wat

It was like a few days ago it was at $9. I wanted to buy in, but stupid school had to get in the way.

What site did you use? I need to get in this shit ASAP. Tomorrow.
 
C

cdkee

Banned
Is buying BTC then exchanging to LTC the best way to get it? I just put in an order for BTC on coinbase, but that's going to take a week!
 
C

criesofthepast

Member
whitehawk said:
dUEAT3U.jpg


wat

It was like a few days ago it was at $9. I wanted to buy in, but stupid school had to get in the way.

What site did you use? I need to get in this shit ASAP. Tomorrow.
Click to expand...
In canada and if u want to get in tomorrow. Send the verification documents right now and you may end up lucky and get approved within 20-30 mins like I did even this late at night. Tomorrow morn be at BMO when they open and make a cash deposit, email them to tell them to check for the cash deposit to expedite things and you should be buying coins at 10am provided it all goes to plan.

I used www.vaultofsatoshi.com. It's based in Toronto.

I dunno man good luck though. That is the quickest option although a tad bit more expensive because vault of satoshi prices are a bit higher than BTCE. Although the low fees help. Cavirtex.com is the most popular coin site but they don't deal in litecoins and they have outrageous fees.

Also vault of satoshi have very lax verification u can even take a picture with your phone of your documents they don't care and half my bill was cut off (I edited out the account number and shit) and they didn't care.
 
P

ProudClod

Non-existent Member
fallagin said:
At the very least, politicians in the US are elected by the people. If you deregulate everything then there is 0 accountability for things that happen in the market place.

People who have no money can still vote in US elections, however, they cannot 'vote with their wallet.'
Click to expand...

Oh, I agree. But the problem with the current system is that there is 0 accountability for behemoth companies, and a ridiculous amount of liability for the average person. While it's bad when people exploit each other, it's even worse when giant corporations do it. It becomes systemic. It becomes the status quo. Before we even begin talking about "replacing" fiat money systems with cryptocurrency (which I would still be against), we need to adopt a political system that actually works for the people, and not for special interest groups who can bankroll the elections you mentioned. This is the only way that market regulation would actually work as intended. Of course, a revamp of the political system is unlikely, and that's why a lot of people have political reasons for supporting Bitcoin. I hope you don't have any illusions, though. It won't change a damn thing to vote in bogus two party elections when a large amount of sitting senate members, house members, and supreme court justices (regardless of political affiliation) actively and aggressively defend the interests of large corporations. It also doesn't help that the boards of the largest and most important regulatory bodies in the US (Federal Reserve, SEC, etc.) are filled to the brim with ex-bankers and corporate moguls.
 
N

Naked Snake

Member
Looks like all those people who beat themselves for not jumping on BTC before "the bubble" and going to be beating themselves for not jumping on LTC right. about. now.

I wish I wasn't broke.
 
D

-Deimos

Member
Crap first Bitcoin, then Litecoin? I'm missing out.

Edit:
Naked Snake said:
Looks like all those people who beat themselves for not jumping on BTC before "the bubble" and going to be beating themselves flee not jumping on LTC right. about. now.

I wish I wasn't broke.
Click to expand...

You were spot on. :(
 
S

Stinkles

Clothed, sober, cooperative
Wow. Look at the near panic in trying to acquire this incredibly difficult to actually get virtual currency. What could possibly go wrong?
 
C

criesofthepast

Member
Stinkles said:
Wow. Look at the near panic in trying to acquire this incredibly difficult to actually get virtual currency. What could possibly go wrong?
Click to expand...
Although I do see the potential for big money and believe litecoin is a good long term investment, I'd agree with what your saying. People need to calm down and not get burnt by greed. All it takes is one DDOS like what has happened many times before and this shit comes crashing down again. I think its best to not panic and just stand by for a bit.

Get into an exchange and go through the verification processes and maybe fund the account (if it is a trustworthy exchange you don't mind leaving some money in for a while) and just sit on it till the right moment. I dont think I'd buy in litecoins right now at this price. Just be prepared for the next golden moment because it will come. History repeats itself.
 
S

Stinkles

Clothed, sober, cooperative
criesofthepast said:
Although I do see the potential for big money and believe litecoin is a good long term investment, I'd agree with what your saying. People need to calm down and not get burnt by greed. All it takes is one DDOS like what has happened many times before and this shit comes crashing down again. I think its best to not panic and just stand by for a bit.
Click to expand...

of course there is potential for big money. Lots of people made lots of money on Beanie Babies. But only people who knew when to get in and when to get out.

but considering acquisition of bitcoins isn't even as easy or predictable as beanie babies, and watching mainstream people fall over themselves trying to buy anything even remotely like the og bitcoins, id say not only that a crash is inevitable, but that the path to normalization has been wrecked.

everyone, perhaps especially those who already got in" needs to take a deep breath and calm down or it will be a self fulfilling prophecy.

nobody is even sure if they're acquiring from a legitimate or stable marketplace.

the whole thing looks terrifying.
 
C

criesofthepast

Member
Crazy thing is Btce is also behind other exchanges. Vault of Satoshi is at $50 a coin. American dollars! Which for us Canadians turns into like $52 a coin.
 
C

Cagey

Banned
Is there a faster means than Coinbase for purchasing via bank accounts? 4 business days puts this transaction complete time at a week from today.
 
C

criesofthepast

Member
Kind of ridiculous that I've made another $1000 since my post an hour ago. And that will be the end of my posts on profit until da money is in da bank.
 
R

Relix

he's Virgin Tight™
I am pretty sure the plan is for me to generate one Litecoin and sell it when it hits 300. Absolutely. Yup.
 
C

Camjo-Z

Member
I'm tempted to try getting into something like this but it all seems so confusing. Maybe I will buy like $10 worth of these bitcoins and see what happens.
 
W

whitehawk

Banned
criesofthepast said:
In canada and if u want to get in tomorrow. Send the verification documents right now and you may end up lucky and get approved within 20-30 mins like I did even this late at night. Tomorrow morn be at BMO when they open and make a cash deposit, email them to tell them to check for the cash deposit to expedite things and you should be buying coins at 10am provided it all goes to plan.

I used www.vaultofsatoshi.com. It's based in Toronto.

I dunno man good luck though. That is the quickest option although a tad bit more expensive because vault of satoshi prices are a bit higher than BTCE. Although the low fees help. Cavirtex.com is the most popular coin site but they don't deal in litecoins and they have outrageous fees.

Also vault of satoshi have very lax verification u can even take a picture with your phone of your documents they don't care and half my bill was cut off (I edited out the account number and shit) and they didn't care.
Click to expand...
Wait, you have to have an account at BMO?

edit: Man, this site asks for a lot of information.

edit2: Seriously, why is there so much verification for identity? Wasn't one of the points of these digital currencies anonymity?

edit3: nvm, don't have to be a member of BMO.

edit4: Would they accept a bank statement for proof of residency?
 
C

criesofthepast

Member
whitehawk said:
Wait, you have to have an account at BMO?

edit: Man, this site asks for a lot of information.

edit2: Seriously, why is there so much verification for identity? Wasn't one of the points of these digital currencies anonymity?

edit: nvm, don't have to be a member of BMO.
Click to expand...
When I was playing around with this stuff earlier this year none of this verification crap was necessary. Honestly the proof of residence u can just edit out any account numbers and shit just show a bill with your name and address.

U don't need an account at BMO to deposit cash in someone's account.

I'm not vouging for them just search on reddit for vault of satoshi and there is some good info there. The owners have been very hands on there too. I've only been with them a day so I don't know everything about them. My coins are offline though and I'd suggest doing that regardless the exchange.
 
W

whitehawk

Banned
criesofthepast said:
When I was playing around with this stuff earlier this year none of this verification crap was necessary. Honestly the proof of residence u can just edit out any account numbers and shit just show a bill with your name and address.

U don't need an account at BMO to deposit cash in someone's account.

I'm not vouging for them just search on reddit for vault of satoshi and there is some good info there. The owners have been very hands on there too. I've only been with them a day so I don't know everything about them. My coins are offline though and I'd suggest doing that regardless the exchange.
Click to expand...
So you buy them from Satoshi, and then you can remove them from their cloud storage and hold on to them offline?

edit: When you send them cash through BMO, how do they know it was you who sent it?

fake edit: Read your post again. You just email them and let them know? I suppose the bank will tell them the name in which the money was sent, and then they check that with your account.
 
N

noquarter

Member
Was trying to buy Litecoins after the big news report brought attention to BitCoin, too much of a hassle, but looks like I should have pursued it :/ Tried mining with just my CPU and that resulted in nothing (.003 LTC, but Pool site requires 1 LTC to withdraw) :/ If anybody has a rig and wants to contract it out for a day, please let me know.
 
C

criesofthepast

Member
whitehawk said:
So you buy them from Satoshi, and then you can remove them from their cloud storage and hold on to them offline?

edit: When you send them cash through BMO, how do they know it was you who sent it?

fake edit: Read your post again. You just email them and let them know? I suppose the bank will tell them the name in which the money was sent, and then they check that with your account.
Click to expand...
When you deposit they actually ask to deposit an exact amount that is unique so like if you wanna put in $100 they may ask to put like $100.05 and they know who to credit it to also keep the BMO receipt and u can send them the reviept to expedite things in an email. You don't have to though. Or call them even.

Also yes to the rest of what you said.
 
D

Deleted member 1235

Unconfirmed Member
Naked Snake said:
Catfish must be pretty happy.
Click to expand...

I'm actually kicking myself.

I was scrambling like everyone here when they were at 5, managed to get money over there when they were 15, bought it with 100 bucks only. I now have 6.5 litecoins at something like 230 euro. I didn't have the balls to do it with 1000, because I'm too cautious with money, what kills me is that due to my caution, if 1000 of my euro got set on fire right now, I'd just be fine because I have more than that saved.

I'm tempted to cash half out, then enjoy playing the markets with the left over 130.

I also suspect that people are just going to go mental on altcoins for a half year, I'm very tempted to find the 'next' altcoin in the list and just buy a lot of them in the mad hope.....
 
W

whitehawk

Banned
catfish said:
I'm actually kicking myself.

I was scrambling like everyone here when they were at 5, managed to get money over there when they were 15, bought it with 100 bucks only. I now have 6.5 litecoins at something like 230 euro. I didn't have the balls to do it with 1000, because I'm too cautious with money, what kills me is that due to my caution, if 1000 of my euro got set on fire right now, I'd just be fine because I have more than that saved.

I'm tempted to cash half out, then enjoy playing the markets with the left over 130.

I also suspect that people are just going to go mental on altcoins for a half year, I'm very tempted to find the 'next' altcoin in the list and just buy a lot of them in the mad hope.....
Click to expand...
Just hold on to them dude.
 
S

Skel1ingt0n

I can't *believe* these lazy developers keep making file sizes so damn large. Btw, how does technology work?
Welp, I was gonna buy last night.

Took me an hour to figure things out. Went to bed. Asked buddy to do it for me.

Waited for him to get home. He had to re-authenticate something.

His account is now forcing him to just do $100 at a time or something.





Last night I could have bought 10 LTC with my $200. By the time I can actually make the purchase, it looks like I might be lucky to buy two.

Lol, so rocky. But w/e. Still going through with it. Maybe we'll see LTC climb to $300 or $400 in the next few months.
 
You must log in or register to reply here.

Similar threads

[GI.biz] Cheap money and bad bets: How the games industry turned pandemic success into disaster
2
75
3K
sharp weiner replied
  • Poll
GTA6: Beginning Of The Next Gaming Crash?
Opinion Business Analysis 2
83
4K
thicc_girls_are_teh_best replied
GAFStreetBets | Collecting/Investing games for fun & profit
Business
3
1K
U n i o n 0015 replied
[Verge] Google canceled its next Pixelbook and shut down the team building it
News Business
48
3K
01011001 replied
Dragon's Dogma II |🐉| You done fucked it up, Capcom
Opinion Analysis 2 3
110
9K
Chiggs replied
Top Bottom