Cryptocurrency
Cryptocurrency
“Every record been destroyed or falsified, books rewritten, pictures repainted, statues, street building renamed, every date altered. The process is continuing day by day. History stops. Nothing exists except endless present in which the Party is right.”
I bought 20 when they were about $2 each a couple of years ago. Time to dig those up and sell them.
It's an interesting economic experiment. In theory they're no less valid than any government-issued currency. As long as the encryption is sound they'll have a value. But to buy them at this point would be the wildest of speculation.
I've seen a few places that take them as actual currency for purchases. If that and the overall user base keeps growing they'll become more solid.
As to mining, it's best to join a pool. I'm part of Deepbit.net, and I used to get about 0.01 per day for my meager CPU activity when my computer was idle. Time to fire that up again, now that that's almost $5 a day.
Edited By TPRJones on 1365706985
It's an interesting economic experiment. In theory they're no less valid than any government-issued currency. As long as the encryption is sound they'll have a value. But to buy them at this point would be the wildest of speculation.
I've seen a few places that take them as actual currency for purchases. If that and the overall user base keeps growing they'll become more solid.
As to mining, it's best to join a pool. I'm part of Deepbit.net, and I used to get about 0.01 per day for my meager CPU activity when my computer was idle. Time to fire that up again, now that that's almost $5 a day.
Edited By TPRJones on 1365706985
"ATTENTION: Customers browsing porn must hold magazines with both hands at all times!"
Oh, and if it ever does stabilize and reach more wide-ranging acceptance, I can easily see it becoming the new reserve currency 20 or so years from now. It's in theory perfect for that, since it's not tied to any government and moving large amounts around is so easy you can do it on your iPhone.
"ATTENTION: Customers browsing porn must hold magazines with both hands at all times!"
They've stabilized at just over $100. I expect them to drift up for awhile, but I'll check every day for my sell point.
I use this graph (also same setup for picking stock sell points): http://bitcoincharts.com/charts....gSStoch
When two lines cross up high, that's a sell signal. When any two do it about the same time, that's when I sell. (Similarly, when two lines cross down low, that's a buy) Of course the first step is to make sure the stock is sound by studying the financials, but that doesn't apply in this case. I expect it'll start drifting up slowly again until my signals tick off around $140-ish in a few weeks.
It's not a perfect system - I won't catch the absolute highest or lowest price points this way - but it takes the emotion out of it to stick with this. No holding on too long or buying too soon.
Edited By TPRJones on 1365962558
I use this graph (also same setup for picking stock sell points): http://bitcoincharts.com/charts....gSStoch
When two lines cross up high, that's a sell signal. When any two do it about the same time, that's when I sell. (Similarly, when two lines cross down low, that's a buy) Of course the first step is to make sure the stock is sound by studying the financials, but that doesn't apply in this case. I expect it'll start drifting up slowly again until my signals tick off around $140-ish in a few weeks.
It's not a perfect system - I won't catch the absolute highest or lowest price points this way - but it takes the emotion out of it to stick with this. No holding on too long or buying too soon.
Edited By TPRJones on 1365962558
"ATTENTION: Customers browsing porn must hold magazines with both hands at all times!"
People are selling them for $300 apiece now on https://localbitcoins.com
Most of those sellers will buy all you have for $250+ per coin.
Crazy.
I was looking at them yesterday when people were selling them for the mid $260's.
http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zv
Edited By Paul on 1383864665
Most of those sellers will buy all you have for $250+ per coin.
Crazy.
I was looking at them yesterday when people were selling them for the mid $260's.
http://bitcoincharts.com/charts/mtgoxUSD#rg60ztgSzm1g10zm2g25zv
Edited By Paul on 1383864665
I've pushed 10 to MtGox to sell today. I expect there will be another dip eventually and I'll buy some back then, taking the difference as cash.
While I do think they have an interesting potential future, the recent price hike looks a lot like a bubble to me.
While I do think they have an interesting potential future, the recent price hike looks a lot like a bubble to me.
"ATTENTION: Customers browsing porn must hold magazines with both hands at all times!"
You mean like U.S. Dollars have no inherent value? Or more like how diamonds have no inherent value?
Okay, diamonds do have some industrial uses so they aren't completely without value, but they'd be as cheap as glass if there weren't enforced artificial scarcity.
Edited By TPRJones on 1383930208
Okay, diamonds do have some industrial uses so they aren't completely without value, but they'd be as cheap as glass if there weren't enforced artificial scarcity.
Edited By TPRJones on 1383930208
"ATTENTION: Customers browsing porn must hold magazines with both hands at all times!"
http://imgur.com/rBrJvlN
There is a subreddit on bitcoins:
http://www.reddit.com/r/bitcoin
Edited By Paul on 1383955668
There is a subreddit on bitcoins:
http://www.reddit.com/r/bitcoin
Edited By Paul on 1383955668