• 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

I didn't jump on the bitcoin wagon, so I jumped on the litecoin mining wagon.

Wasn't that hard. I'm in it for the long haul. Hopefully, this will get me out of debt someday. *crosses fingers*
 
D

Deleted member 1235

Unconfirmed Member
a little nimble there and a little nimble here. lets see if 500 is the limit

ib2fNr31qbWFHL.jpg

must be exciting for you right now given the current mega crash occuring?

I'm the proud owner of 26 litecoin for the price of waaaaay more than they are worth now.

Not too bothered as they're in 'cold storage' for a year but you know. exciting times.
 

asa

Member
Damn, going down fast, I bought Lite @ 15, thinking that it would be safe point before it would rise again now my 10 euro investment is diminishing :D
 

Dascu

Member
Kraken account verified, prices crashing, perfect time to jump in? How long does it take for orders to get processed?
 
D

Deleted member 1235

Unconfirmed Member
Damn, going down fast, I bought Lite @ 15, thinking that it would be safe point before it would rise again not my 10 euro investment is diminishing :D

DONT sell it. I mean it's only a tener. This could all be fine in a week. Nobody knows wtf with this madness.

If china gets around it or whatever, it'll be madness all over again.
 

maharg

idspispopd
Damn, going down fast, I bought Lite @ 15, thinking that it would be safe point before it would rise again not my 10 euro investment is diminishing :D

If you thought it'd eventually bounce back above 15 then it shouldn't matter what it's at now unless you planned to sell now. If you're 'investing' in something you should buy when you think it's undervalued, not because of the swings of the market. Unless you plan to daytrade it.

I'm so glad I have no real money in any of this, just mined coins. :p
 

Dennis

Banned
According to the show Almost Human these here bitcoins might be the currency of the future. Now if only I had a clue about how to profit........
 

Hazaro

relies on auto-aim
ITS HABBENING

I really really hope no one here who thought they knew what they were doing lost too much. It'll go back up sometime in the future anyway, CN is just out.
 

asa

Member
Kraken account verified, prices crashing, perfect time to jump in? How long does it take for orders to get processed?

Took me 2 days to get my money transfer through, if you're not from Europe it might take longer though. I kinda want to send more money in and buy few of those cheap Lites.
 
Hopefully when things stabilise to a more sane price, a lot of the new miners that have appeared over the last month will vanish and give us a bit of a difficulty drop.

I say this having just done the math on the return of my new 10 gh/s blade :-
 
D

Deleted member 1235

Unconfirmed Member
down to $428.. WOOT!
buying more now.

feel bad for those who bought at the top.

I have rather a lot of litecoins I got at the middle, is roughly half.

playing with play money, but the game is waaaaay better if you're winning :(
I toyed with the idea of taking my initial seed out when I made 70% profit as well, but figured fuck it, why not.

I very nearly made a gain by trading out of LTC into BTC during the beginning of the fall, but didn't do that. now I'm stuck with rock bottom litecoin.

I'll just hold for 6 months or whatever, but hopefully the climb back doesn't take that long. If Chinas really out for keeps though, don't know if the highs will ever be reached again, they were pretty keen on the BTCs.
 

Falch

Member
I have rather a lot of litecoins I got at the middle, is roughly half.

playing with play money, but the game is waaaaay better if you're winning :(
I toyed with the idea of taking my initial seed out when I made 70% profit as well, but figured fuck it, why not.

I very nearly made a gain by trading out of LTC into BTC during the beginning of the fall, but didn't do that. now I'm stuck with rock bottom litecoin.

I'll just hold for 6 months or whatever, but hopefully the climb back doesn't take that long. If Chinas really out for keeps though, don't know if the highs will ever be reached again, they were pretty keen on the BTCs.

Perfect opportunity for Wall Street to get involved within a couple of months, I predict a new high in 4-6 months.
 
Hopefully when things stabilise to a more sane price, a lot of the new miners that have appeared over the last month will vanish and give us a bit of a difficulty drop.

I say this having just done the math on the return of my new 10 gh/s blade :-
 
D

Deleted member 1235

Unconfirmed Member
Perfect opportunity for Wall Street to get involved within a couple of months, I predict a new high in 4-6 months.

I imagine the winkevoss twins are going bananas right now. The one that did an ama claims he's never sold a single bitcoin.
 
I am fucking pissed, coinedup.com has been down for past 30mins+, I was going to trade my DOGE to BTC while it was 400s~ and sell when BTC climbed again but its already up $100 and I have totally missed out.
 

kick51

Banned
Something woke me up at about 4:50AM...it was the bottom! It's fun and absolutely terrible having my clock set to bitcoin...been sleeping in increments for a month :(

even if it wasn't...close enough, I'd happily wait out another drop.
 

Einbroch

Banned
Reminds me of my JustBeenPaid investment. Invested $100 in the beginning, made over $10000, then it crashed. Luckily I pulled $6000 out before it crashed.

Internet endeavors like this are always fascinating.
 
woooow. Crash indeed.

Vault of Satoshi really needs to get direct deposits integrated.
I emailed them about it yesterday and they still don't know when. They still said it could be a few weeks because the banks are slow. Kind of sucks. Email them and put pressure on them.

I knew LTC would drop sub $10. :)
 
I have rather a lot of litecoins I got at the middle, is roughly half.

playing with play money, but the game is waaaaay better if you're winning :(
I toyed with the idea of taking my initial seed out when I made 70% profit as well, but figured fuck it, why not.

I very nearly made a gain by trading out of LTC into BTC during the beginning of the fall, but didn't do that. now I'm stuck with rock bottom litecoin.

I'll just hold for 6 months or whatever, but hopefully the climb back doesn't take that long. If Chinas really out for keeps though, don't know if the highs will ever be reached again, they were pretty keen on the BTCs.
Be patient. And I would have bought more when it went under $10 if I were you. It still may again. Everyone will regret not buying this low when it hits the major exchanges.
 
Be patient. And I would have bought more when it went under $10 if I were you. It still may again. Everyone will regret not buying this low when it hits the major exchanges.
Sorry, I'm just a drive-by poster and am only starting to read this thread now, but might it still go under $10? I just went to bitcoin.com, at which point it told me to go to coinbase.com and it says current buy price is $541.01. It seems infinitesimally likely that it will go under $10, no?
 
Reminds me of my JustBeenPaid investment. Invested $100 in the beginning, made over $10000, then it crashed. Luckily I pulled $6000 out before it crashed.

Internet endeavors like this are always fascinating.

Some people are claiming Bitcoins are a sort of Ponzi scheme but JustBeenPaid was literally a Ponzi scheme. You're lucky you got any money at all.
 
I remember back in early 2010 I had to do a little speech about Bitcoins in IT-class.
If I had invested only 5€ in bitcoins for "research purposes" back then, I'd be a rich man today...
 

heyf00L

Member
If people accept bitcoins in a trade of goods or services, then that's pretty real to me.

We've reached the point where a large amount of people believe that bitcoins are an investment and a way to make money, so that in itself gives it value

People's beliefs aren't always enough. If their beliefs are suddenly shattered by some event and everyone rushes to cash out...

Of course a crash doesn't mean it's dead. The stock market crashed and caused a dozen years of poverty, but the stock market didn't cease to exist.

Personally I think China is just the starting point. No country wants its people to move money around this freely. Other nations will start regulating soon.

However, that will be good for the currency, but not good for "get rich quick" schemes. The currency needs to be legitimized and stabilized and actually start inflating if it's ever going to be used for real commerce.
 

x3sphere

Member
Some of the people on that subreddit are insane, there was one guy asking if he should dump $30k into Bitcoin, and it was money he got from his uncle for college.
 
Some of the people on that subreddit are insane, there was one guy asking if he should dump $30k into Bitcoin, and it was money he got from his uncle for college.
There are a lot of people in way over their head with this stuff who have no idea what they're doing. I feel bad for them but they are making a lot of other people incredibly wealthy with their stupidity.

I'm no expert myself but people mortgaging their homes, using tuition money...I mean come on!
 

akira28

Member
ok. I just googled to see how well my machine could mine for bitcoins and litecoins, so this cryptocurrency trend has officially jumped the shark. hold on to your butts.
 

akira28

Member
Mine litecoin, it's kinda fun. What video card do you have?

I have a spare machine not doing anything, with an integrated Nvidia 7600GT, and my main computer with a GTX470, and yeah...I realize both are crap for mining, and now I realize why it was so quick to sell my Radeon Twin Frozrs on ebay.
 

antonz

Member
Mine DOGE and trade for Litecoins. more effective with litecoin so cheap atm. 20,000 doge = .4 Litecoins. 20k can be made in a few hours. even my R9 290 can only do roughly .25 litecoin a day
 

Jackben

bitch I'm taking calls.
I love how doge coins is a real thing. Like actually has competitive worth in the 'coins scene. Hilarious.
 
Top Bottom