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November 19, 2013 @ 07:01 PM
Vancouver

Post: 1688

Join Date: Jan 2008

Last week it was at like $400, peaked at $930 yesterday, now its fluctuating around $700.

Long term this shit is either gonna be fucking gold or nothing.

How many of you luck ass bitches got in on this? Fuk man some people bought this shit for pocket change
November 19, 2013 @ 07:07 PM
kbos

Post: 2685

Join Date: May 2008

Location: boston

I didn't but I had a homie who did and made luchini guap cakes.
November 19, 2013 @ 07:08 PM
Tony Montana

Post: 869

Join Date: Apr 2013

Anyone care to explain why the value of it increased so much? 

"im a very deep minded person" - Tracy Jackson

November 19, 2013 @ 07:24 PM
francois-hollande

suspended

Post: 504

Join Date: Sep 2013

fbi

10char
November 19, 2013 @ 07:25 PM
REVS

moderator

Post: 3624

Join Date: Dec 2011

Location: Philadelphia, PA

I can almost guarantee that in the long term, the market will collapse and you'll end up losing your investment, or possibly just the profit you've gained. Long term Bitcoin investing is a high-risk investment. The fluctuation of the market is so high you could literally lose it all in the blink of an eye. There's been far too many issues with the exchange sites, which have been hacked in the past, and guarantee's you minimum security. 


The value increases rapidly and (can also) decrease rapidly because of the volatility of the market, people who invest or purchase large amounts can shift Bitcoin values due to the market being a "smaller market".

As far as the market this time, from what I've read, it has gone up in value due to high investments in China, believe it or not. And anyone who's actually thinking about investing in this, you would need to invest more than one Bitcoin (400-ish or now I guess 700 at the moment) to make an substantial amount of money. 

I prefer carcinogens to endorphins.

November 19, 2013 @ 07:25 PM
Hellah Fresh

Post: 4062

Join Date: Dec 2006

Was listening to news talk radio like 20mins ago on my lunch... supposedly China bought a shit load of bitcoins lately and the host was saying maybe that move was to poke fun at the "dominating" dollar.
November 19, 2013 @ 07:29 PM
(G)TRAP

suspended

Post: 3666

Join Date: Jun 2008

i just cawped some bitcoins to cawp a panda bear
November 19, 2013 @ 07:45 PM
$$$$$

Post: 1776

Join Date: May 2011

Location: NY

Had a lot. Spent most. Lost some in the Silkroad Shutdown and now investing the last bit I have. I missed the peak yesterday, but its whatever. Could have had thousands by now, but shit happens. 
November 19, 2013 @ 08:07 PM
No Fuxx Given

Post: 602

Join Date: Nov 2011

Location: Canada

where do you buy bitcoins at? I feel like it would be a good move to possibly make quick cash when it peaks but I wouldn't stay in the game long term.

Fly on little wing

November 19, 2013 @ 08:39 PM
playboyxxx

Post: 942

Join Date: May 2011

Location: naw

i dont understand what bitcoins is completely and why theres so much talk about it. its just like currency you can only use online right? and some people think thats the future?

pink like hamilton

November 19, 2013 @ 08:40 PM
REVS

moderator

Post: 3624

Join Date: Dec 2011

Location: Philadelphia, PA

where do you buy bitcoins at? I feel like it would be a good move to possibly make quick cash when it peaks but I wouldn't stay in the game long term.
Mt. Gox

https://www.mtgox.com/

I prefer carcinogens to endorphins.

November 19, 2013 @ 09:01 PM
DOUBLECUP

Post: 430

Join Date: Jun 2013

Location: Hell

Anyone care to explain why the value of it increased so much? 
huge spike was due to the USA finally recognizing Bitcoins as a legitimate currency, i figure. It corresponded with the increase.


On the real though i considered buying this shit back in January. Couldve had 90k right now..

प्रधानसेनापति :{ ─╤╦︻ 父

November 19, 2013 @ 10:50 PM
MUSASHI

Post: 926

Join Date: Jan 2012

Location: SJ

Smh... It was under 100 like a few months ago.

i never thought the prices would raise this much...
November 19, 2013 @ 10:59 PM
truuuchainz

Post: 612

Join Date: Jul 2012

took a chance with these back when they were 150 and made some money.

they're promising but unknown to a lot of people so theyll fluctuate constantly
November 19, 2013 @ 11:14 PM
8zmn

Post: 372

Join Date: Nov 2012

Location: MCR

short term they are a good investment if you don't mind taking risks 
long term they're a bad idea
November 19, 2013 @ 11:30 PM
beenyce

Post: 575

Join Date: Oct 2009

Location: Connecticut

started buying some around june this year. cheapest i ever bought was around 80 bucks. so far it seems no one is this thread has a real grasp on the potential for bitcoin. we're talking about a potential game changer in monetary policy world wide. 

I'll be the first to admit there is extreme volatility right now, but that's mostly due to how new bitcoin is. the market is young so when big money decides to play games (ex. pump and dump) wild swings are expected.

I could go on forever so I'll stop here and just answer specific question as they come up

for the record I am no bitcoin expert lol
November 19, 2013 @ 11:32 PM
beenyce

Post: 575

Join Date: Oct 2009

Location: Connecticut

where do you buy bitcoins at? I feel like it would be a good move to possibly make quick cash when it peaks but I wouldn't stay in the game long term.
Mt. Gox

https://www.mtgox.com/
the fact you would tell someone new to use mt. gox to buy bitcoins shows you have no idea what your talking about.

If you're in the US you'd be much better off using https://coinbase.com/
November 19, 2013 @ 11:41 PM
beenyce

Post: 575

Join Date: Oct 2009

Location: Connecticut

Anyone care to explain why the value of it increased so much? 
like REV said, the primary reason is due to China. The exchange they use called BTCChina is pretty new and is already the #1 exchange in the world in transaction volume. Basically they've been going nuts these past few weeks, along with speculators worldwide trying to get on the train. Also these past two days, there have been US senate hearings discussing bitcoin and virtual currency. They didnt exactly classify bitcoin as a currency/commodity/security yet but the general consensus is that bitcoin may possibly be the next "big thing" so they just want to decide what to do, and they shouldnt ban it outright (not that they could anyway), which is a bullish sign for bitcoin
November 20, 2013 @ 12:07 AM
REVS

moderator

Post: 3624

Join Date: Dec 2011

Location: Philadelphia, PA

where do you buy bitcoins at? I feel like it would be a good move to possibly make quick cash when it peaks but I wouldn't stay in the game long term.
Mt. Gox

https://www.mtgox.com/
the fact you would tell someone new to use mt. gox to buy bitcoins shows you have no idea what your talking about.

If you're in the US you'd be much better off using https://coinbase.com/
Listen I'm not saying I'm an expert. I'm just regurgitating things I've read about online, in the news, and from what friends of mine, who have invested before and made money, have told me. They've used Mt. Gox, I'm sure there are other websites out there that offer better service, or quality or security. 

I prefer carcinogens to endorphins.

November 20, 2013 @ 12:11 AM
Vancouver

Post: 1688

Join Date: Jan 2008

started buying some around june this year. cheapest i ever bought was around 80 bucks. so far it seems no one is this thread has a real grasp on the potential for bitcoin. we're talking about a potential game changer in monetary policy world wide. 

I'll be the first to admit there is extreme volatility right now, but that's mostly due to how new bitcoin is. the market is young so when big money decides to play games (ex. pump and dump) wild swings are expected.

I could go on forever so I'll stop here and just answer specific question as they come up

for the record I am no bitcoin expert lol
what do you think lies in the future for bitcoin? its basically everything or its nothing

I feel like theres obviously great potential but Im finding it difficult to actually see that come to fruition. Im fearful it will tank

my man peter schiff got me doubting

November 20, 2013 @ 03:35 AM
beenyce

Post: 575

Join Date: Oct 2009

Location: Connecticut

@REV yeah, I didn't mean to come off as a dick


@Vancouver I fuck with Peter Schiff too except for this position on bitcoin. He's skeptical as he should be, but I dont think he is educated enough to completely dismiss it.





this dude max keiser is pretty eccentric but i like him and he definitely knows his stuff
November 20, 2013 @ 03:45 AM
KTA

Post: 1191

Join Date: Mar 2011

Whatever potential it had is gone
its like buying facebook stock right now 
no potential anymore. And if it was that easy to buy and sell these stupid fucking coins do you not think people with bank would be doing the same? It will die
November 20, 2013 @ 03:46 AM
johnathan

Post: 3013

Join Date: May 2009

Location: lol

I WAS SO FUCKING CLOSE TO BUYING IT :@

free max b 2013

November 20, 2013 @ 03:50 AM
KTA

Post: 1191

Join Date: Mar 2011

took a chance with these back when they were 150 and made some money.

they're promising but unknown to a lot of people so theyll fluctuate constantly
also something that is unknown to niggas cannot be promising to the masses. fuck a bitcoin 
it was more valuable when it was descreet and not mainstream
November 20, 2013 @ 04:03 AM
beenyce

Post: 575

Join Date: Oct 2009

Location: Connecticut

Whatever potential it had is gone
its like buying facebook stock right now 
no potential anymore. And if it was that easy to buy and sell these stupid fucking coins do you not think people with bank would be doing the same? It will die
you make no sense. nothing like buying FB stock now. More like buying facebook stock in 2007 not after it went public. It is pretty easy to move money in and out of bitcoin, and individuals are trading hundreds of thousands every day. Bitcoin is a first of its kind really so the traditional money types with big bank are still cautious
November 20, 2013 @ 04:06 AM
beenyce

Post: 575

Join Date: Oct 2009

Location: Connecticut

took a chance with these back when they were 150 and made some money.

they're promising but unknown to a lot of people so theyll fluctuate constantly
also something that is unknown to niggas cannot be promising to the masses. fuck a bitcoin 
it was more valuable when it was descreet and not mainstream
this is just dumb. the internet was unknown to niggas at one point, and so were computers...yet here i am talking to you on my computer through the internet.....
November 20, 2013 @ 04:11 AM
jacobsever

Post: 1749

Join Date: Apr 2012

Location: Peoria, IL

I have never heard of this before.

Edit : After reading about it for about 10 minutes I still have no idea what it is. Can't wrap my mind around it.

November 20, 2013 @ 04:25 AM
origins

Post: 1740

Join Date: Dec 2011

Very risky investment. They lost 1.3m due to a hacker incident, not to mention the words "virtual" and "money" don't mix well. I'd see many drug cartels using bitcoin to their advantage, but nothing seems to be amusing about it besides illegal trading.
November 20, 2013 @ 04:49 AM
beenyce

Post: 575

Join Date: Oct 2009

Location: Connecticut

Very risky investment. They lost 1.3m due to a hacker incident, not to mention the words "virtual" and "money" don't mix well. I'd see many drug cartels using bitcoin to their advantage, but nothing seems to be amusing about it besides illegal trading.
yeah it is very risky which is why you should never invest more than you can afford to lose.

when you say "they" I assume you mean inputs.io the online wallet company. yes they did get hacked. bitcoin was designed to take third parties like banks out of the equation. basically you are your own bank. so although online wallets may be convenient they certainly aren't the safest way to store bitcoin. Also inputs.io must have been a small company with shitty security because I hadn't even heard of them before the hacking.

yes bitcoin can be used for illegal activities, just like every other currency in history

basically what companies like paypal and western union make billions a year to do, bitcoin does better essentially for free, its a store of value, and can connect the billions of people without traditional banking to the global economy
November 20, 2013 @ 04:56 AM
hooper

Post: 300

Join Date: Sep 2010

buying bit coin is not investing, it's speculating. good for you if you make a lot of money off it but at this point buying bit coin is no different than gambling.

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