Bitcoins

[Azure]

BTC-E is still going strong. Based in Russia though.

Have to think they are the biggest target right now though.

[Rathji]

Originally Posted by Azure

BTC-E is still going strong. Based in Russia though.

Have to think they are the biggest target right now though.

Can't see anything wrong with storing Bitcoins in Russia.

Since I have some limit buy and sell triggers to capitalize on the swings in the market, I keep a small amount of BTC on an exchange, but once I hit a certain threshold, I either convert to cash or transfer them out, depending on the current value.

[Swarly]

Also something to think about is some exchanges (one I know of anyway) pays back the transaction fee's they collect from bitcoin and other alts back to their members. You are paid a % of your holdings a few times every day. Works out to an effective interest rate of 3-6% depending. So they have definite advantages of using it like a bank.

[photon]

Very interesting read:

http://hackingdistributed.com/2014/0...ppen-at-mtgox/

[MarchHare]

Somebody created a site called PonziCoin (yes, really) and encouraged people to "invest" their Bitcoins by promising lucrative returns. No doubt you're thinking, "Nobody is actually stupid enough to send him their magic beans, right?" Well, it turns out some people really are that dumb. And when the entirely predictable happened, they actually whined and complained and even tried to get the police involved (!!!) because they got scammed by someone who wasn't even hiding the fact that he was running a Ponzi scheme.

Relevant links:
https://bitcointalk.org/index.php?topic=474730.0
http://www.reddit.com/r/Bitcoin/comm...investors_get/

[MrCallahan]

For those of you stockpiling on various crypto coins, and wondering what to do with them? you can now buy Gold and Silver, and pay with multiple different currencies.

http://www.bitgild.com/

[MrCallahan]

Those of you still playing around in the Bitcoin world, Bitcoin Brains has a Calgary Bitcoin Day event going on this Friday. They are doing the grande opening of the Bitcoin ATM (currently live over a soft launch), and are doing some raffles for some prizes. Drop by their shop to check it out!

https://www.facebook.com/events/813778341980786/

[Thor]

Our company just built two basic data centers that are now almost full both with bitcoin miners. I wish I could just take one rack and make it my own, can't imagine what kind of hashing these 2 DC's are putting out for one customer.

[MrCallahan]

Originally Posted by Thor

Our company just built two basic data centers that are now almost full both with bitcoin miners. I wish I could just take one rack and make it my own, can't imagine what kind of hashing these 2 DC's are putting out for one customer.

whoa! Is that here in Calgary? Is bitcoin part of their business plans? or is this something they are doing for fun?

[Wormius]

Silly question, but is it possible to use bitcoins ATMs in different countries to exchange currencies without getting hit with extra fees, or do you get dinged when changing bitcoins to paper money and vice versa?

[MrCallahan]

Originally Posted by Wormius

Silly question, but is it possible to use bitcoins ATMs in different countries to exchange currencies without getting hit with extra fees, or do you get dinged when changing bitcoins to paper money and vice versa?

I don't see why that'd be a problem, you'd be gambling with the price of Bitcoin fluctuating, so there's a chance you'd actually receive less of your desired fiat currency.

[Thor]

Originally Posted by MrCallahan

whoa! Is that here in Calgary? Is bitcoin part of their business plans? or is this something they are doing for fun?

No in Iceland, its a low energy cost DC with no fancy stuff like our main datacenter with redundancy after redundancy.

Our company doesn't want to get any more involved than just hosting stuff, these DC's are low cost hosting with no frills which there is a market for outside just mining.

[Thor]

http://www.advania.com/datacentres/s...in-colocation/

[MrCallahan]

Not sure if any of you guys have been paying attention to this. But CaVirtex has been hosting a contest to win a few Bitcoin, details can be seen here http://lovebitcoin.co/

I decided to take a stab at it, and created a video, figured I'd post here to help boost up the view count a bit! and you guys can hear my B-grade acting, and listen to me nerd out about Bitcoin.

https://www.youtube.com/watch?v=VwBCfS6-ZzA


Also, for those of you that are network-savvy, have you seen the news on this creative hack?

http://www.secureworks.com/cyber-thr...rrency-profit/

This dude utilized BGP routing, to re-route traffic of miners to point to his pool instead, and raked in over $80,000.

[topfiverecords]

Interesting revisit of this dinosaur thread…

[afc wimbledon]

Originally Posted by topfiverecords

Interesting revisit of this dinosaur thread…

Just don't.....

[zamler]

There are some truly tragic events documented in this thread.

[Tiger]

Delete

[mikephoen]

Originally Posted by Hack&Lube

I mined roughly 400 bitcoins in the summer of 2011.

I sold 360 of those coins at around $5-$10/BTC to pay for hardware and electricity bills and gave others away.

400 bitcoins at today's price is $60,000. I want to jump out of a window.

Ouch. I wonder how Hack&Lube is feeling about those bitcoins today...

[dino7c]

Originally Posted by mikephoen

Ouch. I wonder how Hack&Lube is feeling about those bitcoins today...

roughly 22M Canadian dollars worth lol