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Bitcoin price skyrockets, crashes, rinse, repeat, internet starts investing in tulips
- Thread starter tipoo
- Start date
D
Deleted member 1235
Unconfirmed Member
kind of what makes this so fun. Nobody knows.
things in favour of snagging litecoins
-mtgox stated intention to trade LTC, more exposure
-inventor is brother of biggest chinese trade market, if they add it.... 80% of bitcoins currently go to china (based off nothing other than looking at fiatleak for a while), so there should be a buy run on litecoins when that occurs. Chinese love to gamble.
- its easier to mine so a lot of miners are trying it out
against
-lol internet money
Me. I put 100 euro last night. I've 'heard' (read) that they are next business day if you put in before 2pm with SEPA transfer, sadly I didn't. So far everything about the site is making it by far the best one I've used for this stuff. looks way more professional than btc-e (no random russian messages on important things) waaaay faster on verification than mtgox. I'll be sure ot report back if they steal my money, but I'm not really worried about that.
SquiddyCracker
Banned
I am considering mining some litecoins or bitcoins, by taking my laptop to my university and mooching of their electricity 
tearsofash
Member
I have been mining litecoin today and yesterday. With some adjustments and some breaks I'm currently at 0.06 LTC. I think I finally have my settings tweaked to hell. I was at 0.05 a couple of hours ago.
would this theoretically keep the price down until it becomes harder to mine?
Coreda
Member
I am considering mining some litecoins or bitcoins, by taking my laptop to my university and mooching of their electricity
"Hmm... Bill, you feel that?"
"What Frank?"
"That heat. I think it's coming from downstairs"
...
"Holy hell, what's going on here"
"Research, sir"
Burger
Member
Crikey. In a few days you might even have enough for a coffee.
D
Deleted member 1235
Unconfirmed Member
they are roughly I think either 4 or 8 times more abundant than bitcoin, so all other things being entirely equal you could expect 1/4 or 1/8 the value?
so a similar spike to 100USD if retailers started to accept them isn't completely unrealistic.
Starwolf_UK
Member
Was this already posted? Seem appropriate. Man threw out hard drive with 7500 bitcoins on it.
Then there is the matter of the fact it is a hard drive in landfill. I wouldn't rate its chances of working very highly.
D
Deleted member 1235
Unconfirmed Member
pretty convinced that mtgox is a really shitty website now, still waiting for verification, reading their terms it takes ages to cash out (can take 4 weeks wtf).
annoying because their bitcoin prices are always higher than everyone else, so it's a good spot to cash out, but then your money is trapped there with no advantage to be taken of the higher bitcoin price as the only thing to do is buy back in from there (or wait 4 weeks for your money).
annoying because their bitcoin prices are always higher than everyone else, so it's a good spot to cash out, but then your money is trapped there with no advantage to be taken of the higher bitcoin price as the only thing to do is buy back in from there (or wait 4 weeks for your money).
Naked Snake
Member
Yes someone posted it earlier. If he found it and it didn't work I reckon he'd hire a company specialized in data recovery, might cost him a few grand to extract his Bitcoins from it, but it'd be a drop bucket compared what they're worth.
D
Deleted member 1235
Unconfirmed Member
ok so I put some money on kraken last night 8pmish euro time. it's now in my account.
Kraken seems to be the spot if you wanna get in quick (for euro folk).
Kraken seems to be the spot if you wanna get in quick (for euro folk).
I think it's going to be something not so terrible like $2000 to $1000 or $1500 to $500, something like that. People buy it up so fast as soon as it drops and there are exponentially more people involved now than in the April crash (china wasn't really on the scene yet in the way they are now.) And there's the fact that it has always recovered and grown bigger post-crash.
what's your hardware? some guy said I could mine with my single GTX 570, but it seems like that would kill it and not be worth it.
yeah, everyone hates gox heh
but that price difference will be worth the 4 week wait whenever I cash out. hopefully btc-e never makes it easy to get USD in there!
On the plus side, gox is run by very few people who have been overloaded as shit and they've had big changes in the pipeline for a while, including some liquidity fixes.
it is japan based and we know from gaming side how weird and cagey japanese companies can be.
tearsofash
Member
I'm on a 5570 until I can get my computer fixed. I hate that I have a 5770 laying around, but it won't fit in this HP my friend gave me.
On all the defaults for litecoins I was getting like 40khash/s, but with my tweaks I've been doing 80khash/s and bigger workloads to get more. I also find that closing chrome helps. About a 2~4khash/s difference.
ComputerMKII
Banned
I'm finally willing to try owning some BTC but I'm waiting for the bubble to burst.
Hurry up!
Hurry up!
Burger
Member
80Kh/s?
You can buy a USB ASIC miner for £50 or so, which is about 3500khash, and even just one won't exactly make you decent money any time soon.
With just 80Kh/s you should forget it. It's a waste of energy. A lemonade stand would be more profitable.
toxicgonzo
Taxes?! Isn't this the line for Metallica?
4 week wait from mtgox? Doh, at least I don't need the cash immediately.
DerZuhälter
Member
Ok for the germans lurking this thread:
Bitcoin.de is wery gud!
Took me 32 hours from first registration till I got my first Bitcoins. Uses SEPA-transfers between private buyers and sellers. Transfered some of the bitcoins to Kraken.com. Lets see how long that takes.
Question about Multibit:
So the address given under request "works" when I use it online? I transfer to that address and after a certain amount of time the amount I had on an online account is transfered to this offline wallet and just pops up, right?
Bitcoin.de is wery gud!
Took me 32 hours from first registration till I got my first Bitcoins. Uses SEPA-transfers between private buyers and sellers. Transfered some of the bitcoins to Kraken.com. Lets see how long that takes.
Question about Multibit:
So the address given under request "works" when I use it online? I transfer to that address and after a certain amount of time the amount I had on an online account is transfered to this offline wallet and just pops up, right?
D
Deleted member 1235
Unconfirmed Member
DerZuhälter;91780801 said:
yes about the wallet. it should be there instantly in your multibit wallet, but then will also show the 'confirms' if you look at the transaction. your bitcoins aren't really 'there' until the confirms are all in, you can't move it until then.
kraken should be around 60 mins for transfers I think, they require 6 confirms.
anyone know if you can 'rush' the move procedure? I know you can add a miners fee from wallet transfers, but how do you do that on trade sites? Or is it nowt possible?
Naked Snake
Member
Steve Jurvetson is someone I admire and follow on social media. He posted this on his Facebook today and I thought some here might find it interesting:
Steve Jurvetson said:The Largest Bitcoin Transaction ever = $210M
on Nov 22, at todays exchange rate.
I am so glad that my son demanded that his allowance and related monetary exchanges switch to bitcoin last year. The fixed transaction costs were so high relative to the $20 price/coin that we naturally banked a bunch of them to cover anticipated needs.
Here's the long blog post I made at the time (text buried under more in right column): http://www.flickr.com/photos/jurvetson/8410385932/
Detailed view of first transaction, with many senders: https://blockchain.info/tx/1c124432...fedc144cb909a3bf5edbffafb0cd204?show_adv=true
And the subsequent split, four minutes later; the $210M divided into two accounts ($113M and $97M each), and then it fragments further: https://blockchain.info/tx/1746d7d24fa39c7f3b62f64a1760649b616f36e395796bf704d0aaca7b208ca9
Could you give me a quick rundown on how to securely store litecoins(or bitcoins)? I'm currently waiting for my coinbase bitcoins to transfer into btc-e, then i'll gobble up some litecoin and I want to put them somewhere safe, but I have no idea how...
Something with liteaddress.org? It generates a "share" hash and a "private" hash, soooooooo do I just send coins to that share address or something? Then what?
you'd have to convince someone to sell them to you, which people aren't really willing to do because paypal doesn't back those transactions at all. The scammer can just complain and get a chargeback, taking free coins.
Well I have plenty of feedback here and elsewhere, so if anyone is looking to unload a few coins hit me up.
oh yeah, here might be a different story. i meant on the exchange sites, you prob won't get bites.
feels like an all purpose crypto thread should be made
got my $1k posted through a wire today
You gonna go visit that girl with your cash?
You gonna go visit that girl with your cash?
Dude I live with her now!
TheQueen'sOwn
insert blank space here
You verified yet Shagg? Going on two days and I got nothing. (And peercoin has doubled in price
)SquiddyCracker
Banned
Don't jump in, the moment you do it'll collapse!
Careful does it, once everything crashes, that'll be the time to cash in.
I would say invest a bit now. Then if it crashes for a bit, then invest a bit more.
Kane Zakharov
Banned
What GPU are you using to mine? And what's your khash/s?
SapientWolf
Trucker Sexologist
Not if you have AMD GPUs. But the difficulty is gonna skyrocket once people hop on the bandwagon.
criesofthepast
Member
Use the litecoin.org wallet. That is the official litecoin website. There are other paper wallet sites but they are bigger risk. Backup and encrypt litecoin-qt wallet and put it on some USB drives, encrypt and put on dropbox or google drive and your good to go.
Honestly just go to litecoin.org there is a lot of info on this there.
Anyone paying attention to litecoin prices now? Told you to be patient.
look at it dropping.King Mystery
Member
I auctioned two Civilization V steam keys from that CVG voting giveaway on bitmit and made 0.04394282 BTC, which was around $9 back when bitcoins were ~$199.
My scraps are worth $49 now. I should sell them and buy an ironic t-shirt or something.
My scraps are worth $49 now. I should sell them and buy an ironic t-shirt or something.
Shao Kahn Brewing a Stew
Banned
Nope. Nothing. They don't want my money?You verified yet Shagg? Going on two days and I got nothing. (And peercoin has doubled in price
criesofthepast
Member
With who satoshi or virtex? Virtex can literally take fucking weeks. Honestly a lot of people are getting fed up with their bullshit. Satoshi came about at just the right time. They're still a lot faster than Virtex right now.
Also if you have a reddit account you can message the owner of Satoshi or call them to maybe expedite verification if that's the site your dealing with.
Use the litecoin.org wallet. That is the official litecoin website. There are other paper wallet sites but they are bigger risk. Backup and encrypt litecoin-qt wallet and put it on some USB drives, encrypt and put on dropbox or google drive and your good to go.
Honestly just go to litecoin.org there is a lot of info on this there.
Anyone paying attention to litecoin prices now? Told you to be patient.
Just makes me want to buy more.
Bah, I was about to start the process of registering with satoshi, it's hard as fuck.
Macmanus
Member
I chose not to ignore it for half a decade, and instead made over two grand in a few days. Neat.
bistromathics
facing a bright new dawn
arrrgh really tempted to cash out my bitcoins...it can't really keep going up, can it?
That's the risk you take. What did you buy them at?
Slayer-33
Liverpool-2
How much you have
DerZuhälter
Member
I feel all the crazyness around LTCs started in the last 48 hours and died down quickly. Wouldn't invest a whole lot into it. But Black Friday might have taken a lot of attention away from this crypto money madness.
I got accepted yesterday. What was weird is that they first sent me an email saying I wasn't accepted. Then I got an acceptance email a few minutes later. Guess tomorrow I'll go to BMO.
Since they deal with US dollars, if I want to put in $100, I actually need to deposit about $107 CAD right?
Use the litecoin.org wallet. That is the official litecoin website. There are other paper wallet sites but they are bigger risk. Backup and encrypt litecoin-qt wallet and put it on some USB drives, encrypt and put on dropbox or google drive and your good to go.
Honestly just go to litecoin.org there is a lot of info on this there.
Anyone paying attention to litecoin prices now? Told you to be patient.
I checked that out and they had like 2 sentences on wallets...
But I downloaded litecoin-qt and it kinda makes sense,
so litecoin-qt is like a wallet itself, with send and receive addresses (just like btc-e?), but it's a good idea to make backup wallet files?
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