Bitcoins

[Thor]

Makes me wonder about litecoin mining, only at $5 USD now.

Reading about the difficulty levels with even the 500GH miners it seems like its too late to jump aboard unless you are in for the long haul.

[Tron_fdc]

I've been waiting a week to get my Canvirtex account verified. Since then it's gone from $400 to $585.

My $2k investment last Thursday woulda been $3k today!!

[rubecube]

Originally Posted by Thor

Makes me wonder about litecoin mining, only at $5 USD now.

Reading about the difficulty levels with even the 500GH miners it seems like its too late to jump aboard unless you are in for the long haul.

I was thinking about that, too. Might be too late to start mining, but could be worth buying up 100 - 200 coins. Anyone have a good site that's easy to buy litecoins, similar to Virtex?

[Rathji]

In response to the discussion about a bubble, I strongly suspect that it is not the case that there will be a drop in pricing in the short term, but there could very well be one in the long term.

I am completely convinced that the BTC market value is directly tied to the success and penetration of the Cryptolocker virus, which is drastically driving up the demand for bitcoins. The only way this is happening, is if the guys behind it get caught.

[rubecube]

Originally Posted by Rathji

In response to the discussion about a bubble, I strongly suspect that it is not the case that there will be a drop in pricing in the short term, but there could very well be one in the long term.

I am completely convinced that the BTC market value is directly tied to the success and penetration of the Cryptolocker virus, which is drastically driving up the demand for bitcoins. The only way this is happening, is if the guys behind it get caught.

Wow, just read up on that. Good point. Although, I'm not totally convinced that's it. Bitcoins seem to be expanding outside of the traditional black markets (i.e. SilkRoad). At the same time the black markets have multiplied since SilkRoad's original demise, so there will always be demand.

http://www.samwoolfe.com/2013/11/she...silk-road.html

[Rathji]

Your claim that they have expanded outside Silk Road etc, is true, but that is what was maintaining the price in the $120-$140 range prior to October.

If you look at the timeline for Cryptolocker...

From: http://labs.umbrella.com/2013/11/05/....YdVZ9cRN.dpuf

Cryptolocker was first spotted in the wild as early as the first week of September. By the end of October, it had been named one of the “Internet’s Most Wanted” by all major security vendors.

If you look at this 2 month price history chart, it shows the steady increase of BTC prices after about Oct 12, which increased quite considerably shortly after that time, on Nov 3, which is when Cryptolocker hit its full stride.

You can ignore the relationship, but I wouldn't if I was buying BTC and waiting for a good time to sell. (Hint: Its when the guys who made cryptolocker get caught)

[Azure]

Litecoin went over $9 today.

[rubecube]

Originally Posted by Azure

Litecoin went over $9 today.

Do you have site you use for Litecoins, or are you mining?

[Azure]

I just mine. There aren't really any sites that accept it, nor can you really trade it directly into USD. Best way is to convert to BTC, then convert to USD.

But, if you mine Litecoins, I'd say sit on them. I figure it will keep rising, although not as fast as BTC. With the price at $9, it is very profitable.

[Tron_fdc]

Originally Posted by Rathji

Your claim that they have expanded outside Silk Road etc, is true, but that is what was maintaining the price in the $120-$140 range prior to October.

If you look at the timeline for Cryptolocker...

From: http://labs.umbrella.com/2013/11/05/....YdVZ9cRN.dpuf


If you look at this 2 month price history chart, it shows the steady increase of BTC prices after about Oct 12, which increased quite considerably shortly after that time, on Nov 3, which is when Cryptolocker hit its full stride.

You can ignore the relationship, but I wouldn't if I was buying BTC and waiting for a good time to sell. (Hint: Its when the guys who made cryptolocker get caught)

That's actually kinda scary. The unlock key is 2 bitcoins, and if the price of a single bitcoin is being driven up at 5% per day, these guys are going to make a KILLING in a matter of weeks.

Brilliant though. Create a virus that deletes files unless you pay a ransom, in a currency that is anonymous and uncontrolled and can't be tracked. Oh, and in the meantime we're going to drive up that currency value every day.....

[Hack&Lube]

$700 folks.

If anybody invested in Bitcoins in the first week of Nov, you would doubled your investment.

[Regular_John]

Dang, I've just kinda been watching from the outside and seems like they've gone from $480 to $700 since Friday here. If I were holding any BTC at this point I'm not sure I'd have the nerves of steel to hold onto them much longer.

As a stake less bystander it's definitely temping to jump in, but the rationalist in me says the folks jumping in right now are the most likely to get burnt. But my mother also has bins & bins full of beanie babies at her place, so I'm just hyper sensitive to "bubbles" for lack of better term.

Wish ya all luck though. Interesting to watch at the very least.

[Azure]

Amazing how fast it jumped up to $680 on BTC-E. This morning it was at $584. I check after dinner and it was at $680.

[Azure]

$700 on BTC-E
$780 on Mt Gox.
Over a $1000 on BTC China if I'm reading the price right.

Don't sell people. $100 dollar rally in 6 hours.

[Azure]

Good website to follow the different exchanges and see what BTC and LTC are doing.

http://www.coined.com/

[1_Flames_Fan]

I don't understand how this all works but I sure wish I would have invested in some of these when I first heard about them. I would be a virtually rich man right now

[Azure]

Originally Posted by Hack&Lube

!%!#%!$ Forgot I had an auto-sell set @ $300 from a couple of months ago.

10 BTC were sold in early Nov. for that price instead of $550 like it is now.

I'm still getting tunnel vision and depression from losing my 400 BTC mined since 2011 for only $10,000 instead of $200,000

Only 3 BTC left from mining.

More like $300,000 right now.

[JohnnyB]

Don't feel too bad. Amazing crash on right now. The price is tumbling away.

...nevermind, on it's way back up. Interesting watching how volatile the market is with the common points where people have set their buy/sell limits. The Chinese exchange dropped like a rock at 5000rmb, and shot back off like a rocket at 4000.

[Hack&Lube]

It looks like it crashed to $400 but is back up to $600 now.

I think it was just a spurt of panic selling and now people are smelling money again and buying in as they can see it went up to $800 the day before.

[Tron_fdc]

FFS how long does it take to get an account verified?

Is there another way I can do this?