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Mark S.
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Joined: 13 Oct 2005
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PostPosted: Thu Mar 28, 2013 10:43 am
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I don't know about you but I'm getting quite fascinated by the new phenomenon of BitCoins. Apparently the world is starting to go bonkers for them but at circa $94 a pop, from less than $12 in Dec, has the world gone mad and is this idea of a BitCoin currency a bubble of economic nonsense?

I see that certain Internet card rooms trying to attract players from the USA are dealing exclusively in the currency but Im wondering is it something you, yourself, would buy and use of will it all end in tears?

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omen666
Quads


Joined: 08 Aug 2005
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PostPosted: Thu Mar 28, 2013 10:51 am
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Nice to see you keep your finger on the pulse Mark. Bitcoins are not new and have been around for years. Hardly a fad or fashionable either. If you had invested in these two years ago rather than hair brained schemes you could have realised a 1200% at least profit on your holding.

Been using them for a couple of years myself for other purchases, Suggest you read a bit more into it to familiarise yourself on them and then you might understand how it cannot end all in tears
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Mark S.
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PostPosted: Thu Mar 28, 2013 11:00 am
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So you're assuming than another 1200% profit in due course is not out of the question?

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Seb
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Joined: 29 Dec 2011
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PostPosted: Thu Mar 28, 2013 11:04 am
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The current hype is a bubble, they'll drop to about $6 imo. Still by far the most useful thing you can do with them is buy drugs online.
omen666
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PostPosted: Thu Mar 28, 2013 11:08 am
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think they will hold their price now and not go up any more so not worth the investment.

As Seb says their mainly a currency used now for goods you dont want to be caught buying.

You should have a look at the Tor network and some of the forums on there to get an idea
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Joe The Elegance Beevers
Mobster


Joined: 18 Sep 2003
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PostPosted: Thu Mar 28, 2013 11:09 am
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I read this:

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

but still don't get it. Maybe it's the way my mind is programmed.

What is to stop us creating Mobcoins and going spending online with them?

Anyone want to work in Mobmine? Good rates of pay (in Mobcoins obv)
Mark S.
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PostPosted: Thu Mar 28, 2013 11:16 am
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Apparently the website 'Silk Road' uses Bitcoins exclusively to sell hard drugs.

Obviously with Bitcoins having appreciated by a factor of 8 in the past 4 months an oz of acid ain't what it used to be
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Seb
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PostPosted: Thu Mar 28, 2013 11:17 am
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Nothing is stopping the US government deciding bitcoins are at a tipping point and making them illegal apart from Federal Mint Bitcoins, nor Google deciding that only Googlecoins will be accepted in Google Shopping. I think it's the main thing keeping the price down.

Mark, I haven't used the Silk Road in over a year but can recommend it. What are you wanting particularly?
omen666
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PostPosted: Thu Mar 28, 2013 11:50 am
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Seb wrote:
Nothing is stopping the US government deciding bitcoins are at a tipping point and making them illegal apart from Federal Mint Bitcoins, nor Google deciding that only Googlecoins will be accepted in Google Shopping. I think it's the main thing keeping the price down.

Mark, I haven't used the Silk Road in over a year but can recommend it. What are you wanting particularly?
Same here, Siilk road has had its ups and downs but that is the one more in the public eye, there are far more "shops" out there if you know where to look where you can buy anything from "anthrax" to credit card numbers. There are legitimate ways of using them though.
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omen666
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PostPosted: Thu Mar 28, 2013 11:52 am
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Joe The Elegance Beevers wrote:
I read this:

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

but still don't get it. Maybe it's the way my mind is programmed.

What is to stop us creating Mobcoins and going spending online with them?

Anyone want to work in Mobmine? Good rates of pay (in Mobcoins obv)
Took me a while to get my head round it too, it can be a nightmare to buy them sometimes as well, a right proper ballache waiting for your order to complete. The appeal is the untraceability if you do it correctly
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evelyn
Quads


Joined: 16 Mar 2007
Posts: 2123

PostPosted: Thu Mar 28, 2013 4:56 pm
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omen666 wrote:
Joe The Elegance Beevers wrote:
I read this:

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

but still don't get it. Maybe it's the way my mind is programmed.

What is to stop us creating Mobcoins and going spending online with them?

Anyone want to work in Mobmine? Good rates of pay (in Mobcoins obv)
Took me a while to get my head round it too, it can be a nightmare to buy them sometimes as well, a right proper ballache waiting for your order to complete. The appeal is the untraceability if you do it correctly


That's also the reason why governments are likely to act against them ; to prevent money laundering. I think they are a high risk investment.
StGilmore
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Joined: 12 May 2010
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PostPosted: Thu Mar 28, 2013 5:09 pm
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Joe The Elegance Beevers wrote:
I read this:

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

but still don't get it. Maybe it's the way my mind is programmed.

What is to stop us creating Mobcoins and going spending online with them?

Anyone want to work in Mobmine? Good rates of pay (in Mobcoins obv)



from wiki:
Bitcoin (sign: BTC) is a decentralized digital currency[8][9] based on an open-source,[10] peer-to-peer internet protocol. It was introduced by a pseudonymous developer named Satoshi Nakamoto in 2009
Internationally, bitcoins can be exchanged by personal computer directly through a wallet file or a website without an intermediate financial institution.[12] In trade, one bitcoin is subdivided into 100 million smaller units called satoshis, defined by eight decimal places.

So would the smaller Mobcoins be called 'Joes'? Mr. Green

I don't get the mining bit - how they are produced and why there's a stop date on any more being able to be produced...?
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omen666
Quads


Joined: 08 Aug 2005
Posts: 2026
Location: London

PostPosted: Thu Mar 28, 2013 6:51 pm
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evelyn wrote:
omen666 wrote:
Joe The Elegance Beevers wrote:
I read this:

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

but still don't get it. Maybe it's the way my mind is programmed.

What is to stop us creating Mobcoins and going spending online with them?

Anyone want to work in Mobmine? Good rates of pay (in Mobcoins obv)
Took me a while to get my head round it too, it can be a nightmare to buy them sometimes as well, a right proper ballache waiting for your order to complete. The appeal is the untraceability if you do it correctly


That's also the reason why governments are likely to act against them ; to prevent money laundering. I think they are a high risk investment.
Not going to happen evelyn, the same for sites like Silk Road
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Jack Starr
Straight Flush


Joined: 26 Jan 2006
Posts: 3118

PostPosted: Thu Mar 28, 2013 7:23 pm
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Joe The Elegance Beevers wrote:
I read this:

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

but still don't get it. Maybe it's the way my mind is programmed.

What is to stop us creating Mobcoins and going spending online with them?

Anyone want to work in Mobmine? Good rates of pay (in Mobcoins obv)


Mobcoin closed tonight at m1.55 to the us$ gaining 5% on the week, Bloomberg!
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Mark S.
Full House


Joined: 13 Oct 2005
Posts: 1428

PostPosted: Wed Apr 03, 2013 9:21 am
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Bitcoins upto $134 each now....not a bad return in 6 days since I opened this thread at $94!

Any thoughts on how high they'll go??

Mr. Green
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Mark S. - Read all about my 'live' poker exploits and other ramblings:
http://ukpokerukpoker.blogspot.com/ or
http://ukpoker61.blogspot.com/

**New** http://ukpoker-vendeep1.blogspot.com
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