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[Lagspike_exe]

I would dissuade GAFfers from investing in any of the alt currencies, even litecoin at this point.

In my opinion, whilst those who want a quick in and out profit have probably missed the Bitcoin train, Bitcoin is still a reasonably sound investment in the medium term and I'd suggest tiering investments over a month if you're interested in doing this.

For example: Investing $400? Buy $100 of btc every week. Then, if the price rises over the weeks, the initial $100 of bitcoins you've purchased is worth more, and if the price falls over the weeks, you're getting more btc for your dough. Simples!

The equivalent of playing roulet by doubling your bet whenever you lose.

 

[Deleted member 1235]

ITT: People buying currency based on expectations of future growth. Aka a text book bubble.

and? loads of people make loads of money in the bubble. You can get rich on bubbles.

 

[Garou]

So is MtGox a good/safe starting point to buy some Coins? I am a little hesitant to give out my ID for verification.

 

[Lagspike_exe]

and? loads of people make loads of money in the bubble. You can get rich on bubbles.

Absolutely, if you know when to get out.

 

[SquiddyCracker]

and? loads of people make loads of money in the bubble. You can get rich on bubbles.

If you got the know-how of how to take advantage of bubbles, you'd probably already be doing it.

 

[dragonelite]

Absolutely, if you know when to get out.

Ooh god just bought namecoins in hope they will inflate soonish
Must click away the graphs showing the price, to depressing seeing your money shrink and grow all the time.

 

[bishopp35]

This bubble is fascinating. I hope that someone is documenting these events and collecting data so we can have a book or even a paper on all this. What is probably going to happen is that after the crash the reputation of virtual currencies will be greatly reduced and their objective of being a new kind of money will not happen.

 

[dragonelite]

This bubble is fascinating. I hope that someone is documenting these events and collecting data so we can have a book or even a paper on all this. What is probably going to happen is that after the crash the reputation of virtual currencies will be greatly reduced and their objective of being a new kind of money will not happen.

Didn't the bitcoin bubble collapsed like 2 times already?

 

[Slayer-33]

Litecoin at $50?

FUCK ME

GOD FUCKING DAMMIT lol... Saw it at $10, I should have dumped money on to it right? FUCK

I feel destroyed hahaha ((((

 

[kurtrussell]

The equivalent of playing roulet by doubling your bet whenever you lose.

You're referring to a "Martingale strategy" and it's anything but that. In my example, it's effectively choosing to invest $xxx but doing so over a period of a few weeks. Advantage being that you minimise any losses through sudden crashes, but the disadvantage is that you don't maximise any profits.

I'd still recommend a similar investment strategy until we've a little more clarity on the medium term price of btc (the trade volumes are making me nervous).

Ooh god just bought namecoins in hope they will inflate soonish .

 

[Deleted member 1235]

Ooh god just bought namecoins in hope they will inflate soonish

you must be smiling now then ?

 

[Buba Big Guns]

All 3 as well but I have 0 coins and dollars in any of them atm. Offline coins for now. I will be cashing out only my initial investment probably soon though to remove any risk of losing money on this. I'll play around with the rest of the profit after that.

How are you storing your coins offline?

 

[velociraptor]

Litecoin at $50?

FUCK ME

GOD FUCKING DAMMIT lol... Saw it at $10, I should have dumped money on to it right? FUCK

I feel destroyed hahaha ((((

Slayer, you're a UKer like me. How do I convert my GBP to BTC or even LTC. This is infuriating lol.

 

[Deleted member 1235]

How are you storing your coins offline?

download a wallet.

multibit
litecoin

or god knows for NMC

then you send it from your account on an exchange to that. it's really easy (and fast)

but backup your wallet for gods sake. I personally encrypt mine and store it in an online storage.

 

[Slayer-33]

Slayer, you're a UKer like me. How do I convert my GBP to BTC or even LTC. This is infuriating lol.

lol no I'm not, I'm from NYC.

That tag I got from Bish is misleading

 

[Zeroth]

Didn't the bitcoin bubble collapsed like 2 times already?

IIRC yes, but now the media is hyping bitcoin (and there are arguably more newbies) so the impact would be much higher this time around.

 

[velociraptor]

lol no I'm not, I'm from NYC.

That tag I got from Bish is misleading

Oh... figured you were an avid Liverpool fan

 

[Slayer-33]

Oh... figured you were an avid Liverpool fan

lol I hate soccer

Anyway Feathercoin really costs 0.64 per?

http://coinmarketcap.com/


Litecoin just dropped to $43

Oh shit they are TANKING

$39 now

 

[dragonelite]

you must be smiling now then ?

I will either smile or cry over a month

 

[Hazaro]

lol I hate soccer

Anyway Feathercoin really costs 0.64 per?

http://coinmarketcap.com/


Litecoin just dropped to $43

Oh shit they are TANKING

$39 now

Welcome to alt-coin, daytraders dream volatility. And it's just BTCE fucking around, China dun care. Get used to it.

 

[Slayer-33]

Welcome to alt-coin, daytraders dream volatility. And it's just BTCE fucking around, China dun care. Get used to it.

China giev money $$$?

 

[Deleted member 1235]

this is just too much fun.

my experiment with pushing kraken -> mtgox is complete.

from 100 euro yesterday morning I'm out at gox with 241 euro.

I made an error and still ahve 25 euro worth of bitcoin on kraken. which is currently spiking hard.
was actually looking into namecoin, this thing has a use outside of being a currency. check it out. secret websites/dns replacement. pretty neat. going to install the client and see what these websites are (don't be scary porn plz)

http://en.wikipedia.org/wiki/Namecoin

 

[SquiddyCracker]

http://coinmarketcap.com/

The names of some of these coins lmao.
It's kinda starting to remind me of pyramid schemes.

Creators comes up with a novel coin, which costs them nothing to produce as they start out, wait until people starts buying up coins and increase the value, then sell of their own coins and start up another coin.

 

[Slayer-33]

http://coinmarketcap.com/

The names of some of these coins lmao.
It's kinda starting to remind me of pyramid schemes.

Creators comes up with a novel coin, which costs them nothing to produce as they start out, wait until people starts buying up coins and increase the value, then sell of their own coins and start up another coin.

I remember researching bitcoins years ago and was like hmm I wonder if this will work? Never got in.. How depressing.. But then again I didn't have any money lol....

 

[BowieZ]

http://coinmarketcap.com/

The names of some of these coins lmao.
It's kinda starting to remind me of pyramid schemes.

Creators comes up with a novel coin, which costs them nothing to produce as they start out, wait until people starts buying up coins and increase the value, then sell of their own coins and start up another coin.

Money itself is a pyramid scheme, albeit a very gradual one.

 

[TheQueen'sOwn]

Still not verified at Satoshi.

 

[SteveWinwood]

the tears that will happen in this thread

good luck

 

[The Friendly Monster]

Bought 10 of them for €150 a couple of years ago. Will cash out if they are ever worth enough to buy a house.

 

[Liberty4all]

Am I right in thinking this is the easiest and quickest way to make lots of money legally that we've seen in our lifetime?

I seriously feel like missing out. Thinking of convincing someone who couldn't jump on this by themselves (think non internet savvy family/friend) to give me some of their money to play with.

I went in when litcoin was 4 dollars a coin in the first bubble. Got .87 BTC then changed to 37 LTC. Unfortunately I got in at the crest of the first bubble then prices crashed. I tried day trading and lost some of my investment, then sat on .29 BTC. When prices hit 200 per BTC a couple weeks ago I cashed out.

Basically I have zero sense of timing.

 

[Relix]

Aah fuck it, joining Kraken. Will keep mining by my GPU (670) is too slow it seems. At the current rate I'll get one single Litecoin in 5 days

 

[Crayons]

I can't believe LTC is so damn high. If only I invested at $4, but I was like naw it's never gonna rise (because it never does).

 

[Ghizz]

download a wallet.

but backup your wallet for gods sake. I personally encrypt mine and store it in an online storage.

I store my BTC offline, but how do I further encrypt it? Also if I lose my harddrive, I'm fucked. 5BTC only though, got in at about $20 each.

 

[LiquidMetal14]

Aah fuck it, joining Kraken. Will keep mining by my GPU (670) is too slow it seems. At the current rate I'll get one single Litecoin in 5 days

Everything's coming up Millhouse!

 

[YaGaMi]

Is namecoin worth investing in?

 

[I'm an expert]

Is namecoin worth investing in?

Lol I knew this would be the next step. NMC is what..12? 13 now? People are going to pump and dump every cryptocurrency. It's awesome to watch.

 

[Deleted member 1235]

I store my BTC offline, but how do I further encrypt it? Also if I lose my harddrive, I'm fucked. 5BTC only though, got in at about $20 each.

5BTC is a fucking lot, that's like 5k?! i'd personally sell at that to be honest.

you encrypt by 'adding password to wallet' however.... be careful. I store my wallet in a dropbox equivalent and password protect it. that way if I get a little smoke out the back of my computer I just login to another one and get my cash.

Lol I knew this would be the next step. NMC is what..12? 13 now? People are going to pump and dump every cryptocurrency. It's awesome to watch.

while I think picking the next pump and dump will be half the fun of this over the coming months, Namecoin is interesting, it's an alternative dns system which doesn't have any universal body oversight. Interesting technological concept that seems to use the 'its a currency as well' to sort of boost its popularity. I'm gonna try out some NMC as well, but stick to the biggest 3.

 

[dragonelite]

I can't believe LTC is so damn high. If only I invested at $4, but I was like naw it's never gonna rise (because it never does).

pretty much every crypto coin i thought it will never raise higher.
And well 2 weeks later bam 1000% profit :'(

 

[Pedrito]

http://coinmarketcap.com/

The names of some of these coins lmao.
It's kinda starting to remind me of pyramid schemes.

Creators comes up with a novel coin, which costs them nothing to produce as they start out, wait until people starts buying up coins and increase the value, then sell of their own coins and start up another coin.

Too bad all the alternate currencies have such horrible names. If one had a name catchy and professional-sounding, it could easily be the next chosen one considering the flaky buyors. Where's the iCoin?

Although the CryptogenicBullion might attract gold bugs.

 

[Ether_Snake]

All coins are rising! Except one called junkcoin, this one tanked. lol

How long before we get virtual coin ETFs?

 

[IceCold]

.

 

[Ashsturm]

Out of nowhere I get an email from bitstamp today saying that I had received 0.03 Btc... not much but a $35 donation from nowhere seems a little strange. Thought it might be a phishing email but it is sitting there in my account.

Not sure if it is worth all the hassle of proving my account to get that money out but atleast it is some sort of comfort after setting that account up and then failing to pull the trigger on 10Btc for $80 each

 

[mingoguaya]

So if I wanted to risk, say $100, in any of these currencies (Namecoin is ~$15 so that would net me about 6.66 coins) and Im in the US and want to use paypal... how can I exactly do that?

 

[DerZuhälter]

Man Mt.Gox still hasn't even verified my email account after 4 hours. What is happening?

 

[Shao Kahn Brewing a Stew]

All coins are rising! Except one called junkcoin, this one tanked. lol

How long before we get virtual coin ETFs?

10 years.

All coins not named Bitcoin will crash hard. The top 3 is here to stay but will be at max 0.1BTC value.

What happens will clearly depend on what they believe the adjusted value of Bitcoin is or will be when the whole FREE MONEY scheme is done with.

March is where we can decide (I personally believe) whether they'll flatten out or not.

Its fucking scary. I called it out and knew Bitcoin will rise to $500, but didn't expect $1000!!

 

[toxicgonzo]

All coins are rising! Except one called junkcoin, this one tanked. lol

How long before we get virtual coin ETFs?

I'm surprised we don't have one already. I could swear there was one site that you could buy virtual stock with (and maybe a BTC index fund), but it just seemed shady to me.


I cashed out on bitcoin yesterday thinking I was so smart in setting a high limit order. Woke up today, it wasn't high enough. Oh well, I'll take it.

 

[Ether_Snake]

I'm sure it will go to 4k, maybe in six months.

 

[Shao Kahn Brewing a Stew]

I'm sure it will go to 4k, maybe in six months.

What? That's crazy talk. I personally expect it to hit $1300 by NYE. 4K is too much for my taste.

(I hope you're right).

 

[I'm an expert]

Hey guys when is this crash going to happen. I totally have my pennies ready for when it goes back under a dollar.

 

[Skel1ingt0n]

In the time it's taken to approve my purchases , LTC has risen from $17 to $50.

Fuck me.

 

[Deleted member 1235]

In the time it's taken to approve my purchases , LTC has risen from $17 to $50.

Fuck me.

hurts man, it went from 4 euro to 15 while I was doing same.
my buddy I'm doing this investors league game with is currently riding the NMC wave all the way to the top lucky fucker, made about 20% in last 2 hours or something crazy.