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Posted: Mon Nov 18, 2013 9:31 am
by TheCatt
$600 each? wtf?
Posted: Mon Nov 18, 2013 10:08 am
by Paul
I bought stuff with half a coin when they were $400 (up $100 since my purchase).
Nice to know that I still have ~$300 in bitcoin.
When is the bubble going to burst? I don't see how this is sustainable.
Posted: Mon Nov 18, 2013 10:23 am
by TheCatt
Supposedly China is behind a lot of the recent runup, plus hedge funds.
Who knows. It feels pretty frothy to me.
Posted: Mon Nov 18, 2013 10:45 am
by TheCatt
Paul wrote:I bought stuff with half a coin when they were $400 (up $100 since my purchase).
Nice to know that I still have ~$300 in bitcoin.
Weed? Unregistered guns?
Posted: Mon Nov 18, 2013 11:59 am
by Paul
I don't smoke weed and in my state I can legally purchase assault rifles with cash, without any registration, from non-dealers.
I bought hunting revolver in a McDonald's parking lot. The only requirement is that I'm a resident, and not a felon.
Oh, and the weapon can't be fully automatic, but that's a Federal license thing.
I just checked and I actually have a tad over .4 bitcoins left. If that gets up to $300 in value then I'd like to cash it out for something. Maybe an international money card? I dunno.
Localbitcoins (where I have my wallet) has me use the Google Authenticator app on my phone, in addition to my password. I kinda like the extra security. PokerStars used to let you do something similiar.
Edited By Paul on 1384794134
Posted: Mon Nov 18, 2013 12:34 pm
by TPRJones
Yeah, I don't know what the hell is going on. My daytrading thing ended up a bust as I was left on the wrong side of a small swing with cash instead of bitcoin. I know I should just hop back in but it hurts to buy so high when surely any minute now it's going to go back down again for a bit ... it has to ... doesn't it?
Edited By TPRJones on 1384796088
Posted: Mon Nov 18, 2013 12:50 pm
by TheCatt
TPRJones wrote:Yeah, I don't know what the hell is going on. My daytrading thing ended up a bust as I was left on the wrong side of a small swing with cash instead of bitcoin. I know I should just hop back in but it hurts to buy so high when surely any minute now it's going to go back down again for a bit ... it has to ... doesn't it?
$666... Hah.
Man, I don't know. These things have no value, other than what other people will pay, they're barely accepted anywhere.
I mean, it's a bubble... but does it pop now or at 1k or 20k? It's popped several times before, but always comes back stronger.
I have 2 BC. I paid $355 each. Might sell one today, then ride the other.
Posted: Mon Nov 18, 2013 12:53 pm
by Paul
There are quite a few places to spend Bitcoins.
Getting a Z-Pak would be good for a bug out bag.
(Aquarium antibiotics work too)
Strip4Bit has camwhores that take Bitcoin.
I'll probably buy some Reddit gold, but I don't know what to do with the rest.
Maybe PayPak?
I do feel like the Chinese are just going crazy with them, and soon the bubble will burst, but we'll see.
Posted: Mon Nov 18, 2013 1:17 pm
by TheCatt
Still, compared to places that take American $s, that's nothing.
Posted: Mon Nov 18, 2013 3:24 pm
by TheCatt
Whoa... just went from 660 to 600 to 640...
The place I bought mine (Coinbase), oddly has prices $40-50 lower than mtgox. But buy/sell are both about that much lower, with a $3 spread / trade.
Posted: Mon Nov 18, 2013 3:44 pm
by TheCatt
TPRJones wrote:Yeah, I don't know what the hell is going on. My daytrading thing ended up a bust as I was left on the wrong side of a small swing with cash instead of bitcoin. I know I should just hop back in but it hurts to buy so high when surely any minute now it's going to go back down again for a bit ... it has to ... doesn't it?
That's how I felt about GOOG when it was 115...
Posted: Mon Nov 18, 2013 3:53 pm
by Malcolm
TheCatt wrote:TPRJones wrote:Yeah, I don't know what the hell is going on. My daytrading thing ended up a bust as I was left on the wrong side of a small swing with cash instead of bitcoin. I know I should just hop back in but it hurts to buy so high when surely any minute now it's going to go back down again for a bit ... it has to ... doesn't it?
That's how I felt about GOOG when it was 115...
I know someone who is still epically pissed he got out way too early.
Posted: Mon Nov 18, 2013 4:28 pm
by GORDON
I remember the artist who painted a mural on the wall at Google HQ and was paid in stock and became a millionaire when they went public.
Posted: Mon Nov 18, 2013 4:33 pm
by TheCatt
Earlier today I was driving in my car, and I just had this vision of a world running on bitcoins, mobsters, criminals, normal people, everything. It was all bitcoins. I mean, if I'm a private person (*cough* criminal *cough*) why do I want dollars? Because other people take dollars. Because I can get stuff for them. But they're cumbersome, physically, and logically. Moving through bank accounts that can always be shutdown, no matter how you move them. Having to clean them. Bitcoins can reduce transactional costs for the illegal economy. As long as those people want bitcoins, bitcoins are valuable.
Even litecoins are exploding. $4 last week, $8 today.
Posted: Mon Nov 18, 2013 4:43 pm
by TheCatt
Maybe this is something you buy into? A few hundred bucks at a time... just slowly building up a pile.
Fuck, who knows. Maybe it's all vapor. I need to stop paying attention to it 
Posted: Mon Nov 18, 2013 5:36 pm
by TPRJones
It's fun to think about, but don't think about it too much. That way lies madness.
I mostly like it for being completely decentralized. No one controls the bitcoin network. It's a totally peer-to-peer phenomenon. It's a libertarian's wet dream of what money should be. I find that very appealing.
Posted: Mon Nov 18, 2013 5:37 pm
by Malcolm
As long as those people want bitcoins, bitcoins are valuable.
War on bitcoins. Calling it now.
Posted: Mon Nov 18, 2013 6:34 pm
by TheCatt
Malcolm wrote:As long as those people want bitcoins, bitcoins are valuable.
War on bitcoins. Calling it now.
Well, we know what America's Wars on X have done to prices, so... GO FOR IT!
Posted: Mon Nov 18, 2013 6:41 pm
by TheCatt
What I don't understand is the disconnect between markets.
MtGox is saying last price $770.
CoinBase is saying I can buy for $653.
Posted: Mon Nov 18, 2013 6:41 pm
by TheCatt
I bought litecoins today. I traded in 0.1 BTC for them. I'M DIVERSIFIED