It seems bitcoin's getting back up, mostly US/Russia-driven this time -- looking at downloaded QT wallets/nodes.

Like El-Mech, I got back into coins this morning. I won't be cash for a while, I think.

Aren't you guys a little worried about what will happen in China??? They have until Jan 31, 2014 to cash out.

My guess is many will not finish cashing out until the government makes an official statement.

Also, have you noticed the Bitstamp/BTC-e are now below BTC China???

Weird stuff.

(12-27-2013 12:28 PM)The Texas Prophet Wrote:  Aren't you guys a little worried about what will happen in China??? They have until Jan 31, 2014 to cash out.

My guess is many will not finish cashing out until the government makes an official statement.

Also, have you noticed the Bitstamp/BTC-e are now below BTC China???

Weird stuff.

To me, it seem that the information remains too contradictory and NONE of the information strong enough to know whether BTC is going DOWN or UP.

Yet, at the moment, India seems to be a NON-starter regarding BTC.

http://techcrunch.com/2013/12/27/bitcoin...r-warning/

Texas Prophet,

My guess: China's a big country. Only 1% investing Chinese of 1% of total Chinese prabably ever bought BTC -- or something in that line of reasoning. The collective behavior of very specific minority of financially pretty clever people is pretty hard to pin down. Wait & see, I guess.

Also, what would you do 30 days before the end of the world? That's right, you'd party.

(12-27-2013 01:16 PM)Maciano Wrote:  Texas Prophet,

My guess: China's a big country. Only 1% investing Chinese of 1% of total Chinese prabably ever bought BTC -- or something in that line of reasoning. The collective behavior of very specific minority of financially pretty clever people is pretty hard to pin down. Wait & see, I guess.

Also, what would you do 30 days before the end of the world? That's right, you'd party.

Maciano.

I get your point about BTC in china being a niche group; however, I would speculate that probably, the number of Chinese involved in BTC is even more niche than you are describing.

China has about 1.35 Billion people, and 1% would be approximately 13,500,000, and I doubt that many Chinese have been involved with BTC. 13.5 million is an enormous number of people.

Personally, i would estimate less than a million Chinese have gotten involved in BTD, which is less than .01% of the population - and certainly, I am guessing so I would NOT take offense if anyone believes the number of Chinese involved in BTC is greater than 1 million.

Quote:Maciano.

I get your point about BTC in china being a niche group; however, I would speculate that probably, the number of Chinese involved in BTC is even more niche than you are describing.

China has about 1.35 Billion people, and 1% would be approximately 13,500,000, and I doubt that many Chinese have been involved with BTC. 13.5 million is an enormous number of people.

Personally, i would estimate less than a million Chinese have gotten involved in BTD, which is less than .01% of the population - and certainly, I am guessing so I would NOT take offense if anyone believes the number of Chinese involved in BTC is greater than 1 million.

Yeah 1% * 1% = 0,01% => 135000. Or 1 million. Doesn't matter. What I meant to say: only a small fraction of the Chinese ever owned BTC.

They're probably the smartest, moneyed, most up-to-date of the masses. It's not like a regular Chinese has unrestraint access to all possible news sources like we in the West do. I think these guys are no clowns, they know what they're doing.

Anyway, I actually bought some BTC today. You're still buying?

(12-27-2013 04:18 PM)Maciano Wrote:  Anyway, I actually bought some BTC today. You're still buying?

I am continuing with buying and dollar cost averaging on a regular basis. However, since I have accomplished a lot of my front loading of my initial BTC investment, as I had intended, with a little better buy-in results than I had originally anticipated, recently, I have spread out my buying a little bit.

In other words, these days, I am NOT buying every day, and instead I have been spreading out my buying, a little bit in order to take advantages of dips, if any. In this regard, in the past week, I have been waiting and hoping for a substantial drop in price so I can make a bulk purchase (but in that time-period, NO substantial drop in price has come about, yet).

Probably, in the next couple of weeks, I will provide an updated report on my to-date BTC investment results and my continued BTC buying strategy.

(12-27-2013 03:12 AM)JayJuanGee Wrote:  

(12-27-2013 02:42 AM)rdvirus Wrote:  Me and a buddy of mine discussed BTC when it was in the $40-$60 range. Was on unemployment at the time but was considering dumping 4 to 6 hundred in it just for fun... didn't understand what the fuck a bitcoin was and still don't. Would have been nice to cash out when it got around the $1000 mark

Bit more money to play with now but I still don't know enough to make a serious move.. Watch it go to $10000 a coin now

A lot of us do NOT really know what the fuck a bitcoin is, even after studying it for a long time (weeks and weeks for me).

A point about your NOT knowing anything but being interested in BTC may mean that it would be good for you to consider dollar cost averaging investing while you learn. You do NOT have to buy whole bunch of bitcoins. Just start by figuring out how to open a BTC account and then maybe just investing $50 a week for a few weeks while you are learning about it, and if you screw up your investment, then you have NOT lost too much. But in the meantime you can learn, and possibly a few weeks or even a month down the road, you will start to get a better idea about whether you feel comfortable sinking more cash into it or NOT.

Just a thought so you can get started.

I made my first purchase off of localbitcoins.com, and then I transferred it to BTC - e. And, then I opened up a Coinbase account, and I have been buying on Coinbase, and trading on BTC -e. I am NOT sure if there is a better way to do it in Canada, if that is where you are... I'm in Los Angeles, USA....

We've actually got a brick and mortar bitcoin store here in Calgary, Alberta... which would simplify everything a lot and the rates are supposedly better then most traders on localbitcoins.com.

Take a look and tell me what you think.
http://www.bitcoinbrains.com

(12-27-2013 10:47 PM)rdvirus Wrote:  

(12-27-2013 03:12 AM)JayJuanGee Wrote:  

(12-27-2013 02:42 AM)rdvirus Wrote:  Me and a buddy of mine discussed BTC when it was in the $40-$60 range. Was on unemployment at the time but was considering dumping 4 to 6 hundred in it just for fun... didn't understand what the fuck a bitcoin was and still don't. Would have been nice to cash out when it got around the $1000 mark

Bit more money to play with now but I still don't know enough to make a serious move.. Watch it go to $10000 a coin now

A lot of us do NOT really know what the fuck a bitcoin is, even after studying it for a long time (weeks and weeks for me).

A point about your NOT knowing anything but being interested in BTC may mean that it would be good for you to consider dollar cost averaging investing while you learn. You do NOT have to buy whole bunch of bitcoins. Just start by figuring out how to open a BTC account and then maybe just investing $50 a week for a few weeks while you are learning about it, and if you screw up your investment, then you have NOT lost too much. But in the meantime you can learn, and possibly a few weeks or even a month down the road, you will start to get a better idea about whether you feel comfortable sinking more cash into it or NOT.

Just a thought so you can get started.

I made my first purchase off of localbitcoins.com, and then I transferred it to BTC - e. And, then I opened up a Coinbase account, and I have been buying on Coinbase, and trading on BTC -e. I am NOT sure if there is a better way to do it in Canada, if that is where you are... I'm in Los Angeles, USA....

We've actually got a brick and mortar bitcoin store here in Calgary, Alberta... which would simplify everything a lot and the rates are supposedly better then most traders on localbitcoins.com.

Take a look and tell me what you think.
http://www.bitcoinbrains.com

I would NOT believe that you are getting the best rate merely b/c they say that you are getting the best rate.

It appears that they are averaging out the BTC sale for the price for BTC for the last 24 hours, and that is going to raise the rate in my opinion. Also, their range of sale is between $3,000 and $20,000. I would think that if they have a store, then they would NOT need to have such high minimums. Why NOT have smaller transactions, such as $300 minimum?

Anyhow, if they can get away with it, then o.k., but it seems as if they may be charging premium prices...

You can probably get better rates somewhere else, such as Coinbase or some Canadian equivalent, if there is such. Compare the store's price to Coinbase price at any given time on any given day, and see what you find?

(12-27-2013 11:01 PM)JayJuanGee Wrote:  I would NOT believe that you are getting the best rate merely b/c they say that you are getting the best rate.

It appears that they are averaging out the BTC sale for the price for BTC for the last 24 hours, and that is going to raise the rate in my opinion. Also, their range of sale is between $3,000 and $20,000. I would think that if they have a store, then they would NOT need to have such high minimums. Why NOT have smaller transactions, such as $300 minimum?

Anyhow, if they can get away with it, then o.k., but it seems as if they may be charging premium prices...

You can probably get better rates somewhere else, such as Coinbase or some Canadian equivalent, if there is such. Compare the store's price to Coinbase price at any given time on any given day, and see what you find?

They will buy your bitcoins from you, up to $3000 cash, per day per person and up to $20000 by debit or cheque, per day per person at market rate less 7%. I believe you can purchase bitcoins from them with UP TO $3000 as a walk in customer and it's possible to purchase more with an appointment. Don't believe there is a minimum, the site is kind of confusing there. I'm going to ask for a quote and see how it looks.. there has to be some sort of mark up as they have a store front and employees(overhead). I'll keep ya updated.

The quote doesn't hold in times of "high volatility".. I think i'd like to wait for a dip before I buy some but maybe i'll go buy $50 worth as you suggested if the quote seems fair.


EDIT** Got quoted @ $846.42 CDN as of 10 minutes ago, which is about $90~ more than http://www.cavirtex.com, the Canadian Virtual Exchange. Looks like i'll be buying online if I make the jump.

(12-27-2013 11:37 PM)rdvirus Wrote:  EDIT** Got quoted @ $846.42 CDN as of 10 minutes ago, which is about $90~ more than http://www.cavirtex.com, the Canadian Virtual Exchange. Looks like i'll be buying online if I make the jump.

I did a very quick glance at Canadian Virtual Exchange (CAVIRTEX), and I do NOT want to study the whole site; however, it appears that there may be many attributes of CAvirtex that are very similar to Coinbase - eg... setting up an account and linking your account to a bank account or some other payment means. And, another similar attribute seems to be various kinds of delays in getting access to your BTC or transferring your BTC back into fiat currency.

Accordingly, rather than using CAVIRTEX, there could be certain advantages in using other services such as your local store or localbitcoins to get your BTC right away or liquidating your BTC right away (even though it may cost a little more).

Given the various delays with a CAVirTex account, there may be some advantages to get your CaVirtex account set up and to begin to accumulate some BTC over the coming weeks, then play around with those BTC by moving them around and getting used to using them or considering ways to use them (or spend them). If you learn about BTC, you will be several steps in front of the normal joe blow, if this BTC thing were to blow up in a positive direction. I am still learning several aspects of this, but I am MORE ready and in place now, in the event that I would want to buy or sell my BTC quickly (though I remain in a buying mood, unless something real catastrophic were to occur and cause me to want to exit BTC quickly - that is to exit before everyone else hears about the need to exit, if that's possible?).

I know with Coinbase, I can buy and sell BTC quickly, but only after I have gone through various verifications, including being on my account for 30 days (I am nearing that 30 days point, now, within a day or two). Once i go past 30 days, I can buy and sell quickly, and my buy and sell daily limits go up.

EDIT: OH YEAH, and recall for example even though for me, Coinbase has about 5 to 10% lower prices than LocalBitCoins, Coinbase still receives 1% on each end for transferring from fiat to BTC and back from BTC to fiat. So I have to account for 2% transaction costs for whatever I do with BTC (and that will have to be considered and accounted for in my calculations about whether or NOT I am accumulating any kind of BTC profit).

Don't go with CAVirtex, they have weird fee structure and clauses in the contract (inactivity = funds being taken).
Not to mention the engine lags like crazy, have issues withdrawing/depositing and verification is backed up.

Canadians can still use Coinbase, here's the trick I used: RBC
Open an American USD account at RBC, then coinbase will see you as valid.

As a Canadian I use the following:
Coinbase
Vault of Satoshi
Localbitcoins
Quickbt
I've yet to use the bitcoin shop, bitcoin atm and cavirtex (verification took ages, and when issues with them came to light I decided to just stick to the other options)

As we would say on nuke boats every once in a while its time to sweep away the shallow water and let the deep blue sea run in for a major REALITY CHECK:

Banks Mostly Avoid Providing Bitcoin Services
The Wall Street Journal By Robin Sidel
December 22, 2013 4:32 PM

Companies trying to cash in on the newfangled bitcoin craze are having trouble getting old-fashioned bank accounts.

http://finance.yahoo.com/news/banks-most...00681.html

[$$] Bitcoin Prices Slide on China's Concerns The Wall Street Journal
[$$] Central Banks Warn of Bitcoin Risks The Wall Street Journal
Is Bloomberg Single-Handedly Saving Bitcoin as a Virtual Currency? 24/7 Wall St.
Bitcoin unable to keep hold of $1,000 MarketWatch
China Bitcoin Exchange Ends Third-Party Yuan Cooperation The Wall Street Journal

Lenders are leery of dealing with virtual-currency companies because of concerns that the businesses could run afoul of anti-money-laundering laws or be involved in illegal activities, banking executives say. Regulators and central bankers around the world have raised similar concerns in recent months.

The problem has grown so acute that some owners of fledgling virtual-currency businesses are trying to elude bank scrutiny by avoiding the words "bitcoin" or "bit" in their names, according to entrepreneurs and investors who actively track the industry.

Patrick Murck, general counsel for the Bitcoin Foundation, a trade group, has been raising the issue in meetings with regulators and bank executives.

"This is definitely causing a bottleneck in the industry," he said in an interview. "The ability of companies to get bank accounts is necessary so that they can take the next step in building out the core bitcoin infrastructure."

Bitcoin has exploded in popularity since its introduction four years ago. The virtual currency is "mined" using computer algorithms and swapped electronically among users for the purchase of goods and services or as an investment. The price of one bitcoin has been extremely volatile in recent weeks, soaring above $1,100 from less than $20 at the beginning of the year. It has since retreated to around $638, according to a CoinDesk index of three popular bitcoin exchanges.

Such gains have prompted big-time venture-capital firms such as Accel Partners, General Catalyst Partners, Lightspeed Venture Partners and Union Square Ventures to pile into bitcoin-related companies in recent months.

But bankers don't share investors' enthusiasm.

Entrepreneur Jesse Powell said he reached out to roughly 30 banks in the past year when he wanted to open an account for his fledgling virtual-currency exchange, called Kraken. Bitcoin exchanges need bank accounts so that they can receive wire transfers from customers.

"I talked with tons of them and got far along, but ultimately it turned out to be a waste of time because the [banks' regulatory] compliance guys would pull the plug," he said. Stymied in the U.S., Mr. Powell eventually found a bank in Germany.

Then last month Bank of America Corp. froze the account that funded general operations for Kraken's parent company, called Payward Inc., according to Mr. Powell. He said the bank unlocked the account on Dec. 2 after he responded to a questionnaire from Bank of America about Payward's business.

"It was a total nightmare, to put it mildly," said Mr. Powell, who tapped his personal bank when the company account was frozen. Mr. Powell pays employees in bitcoin or dollars, depending on their preference.

Bank of America declined to comment on Mr. Powell's situation, citing rules on customer privacy. A spokesman said, "We support clients in a variety of industries and, per regulatory guidance, perform additional due diligence for money-services businesses."

"It is really, really hard to get a bank account, because banks don't know if bitcoin is friend or foe," said Meyer "Micky"Malka, a former banker and founder of Ribbit Capital, a venture-capital firm in Palo Alto, Calif., that has invested in three bitcoin companies.

Big banks are reluctant to say whether they have a firm policy about providing services to bitcoin-related companies but said virtual currencies require an extra level of scrutiny.

"Banks make their own decisions on which customers to accept, but areas like virtual currency that present heightened risk require heightened risk-management and controls," said a spokesman for the Office of the Comptroller of the Currency, which regulates banks.

Wells Fargo & Co. considers bitcoin to be a "rapidly evolving area" and "will work to ensure that we meet our due-diligence requirements in providing any banking services to all money transmitters, including the review of federal registration, state licensing, business background and [anti-money-laundering] assessments," a company spokeswoman said.

J.P. Morgan Chase & Co. won't provide banking services to any money-services businesses, which include everything from check cashers to bitcoin-related ventures, according to a person familiar with the bank's policies. The bank has come under intense regulatory scrutiny this year and is significantly scaling back in certain areas that could be considered risky.

John Reitano didn't even try to get a bank account from a large financial institution earlier this year when he was setting up Coinflash, a San Diego company that aimed to start a bitcoin-trading network similar to airport currency kiosks.

"We went to a lot of little banks and explained what we were doing, but we got turned down by them, too," Mr. Reitano said. Ultimately, he didn't need a bank account; the business ran into regulatory hurdles and didn't get off the ground, he said.

Silicon Valley Bank, a Santa Clara, Calif., lender with $23.7 billion in assets, is one of the few institutions providing banking services to bitcoin companies. The bank has established a separate due-diligence process to vet such ventures and is being "extraordinarily selective," said Chief Operations Officer Bruce Wallace.

Mr. Wallace said providing services to bitcoin companies fits with the bank's business model to support innovative companies and "market disrupters." But he added, "I can definitely understand how some other financial institutions, where this is not a core part of their business, would question the point of taking any risk at all."

Write to Robin Sidel at [email protected]

[email protected]****

So some facts in review - China is petrified of these crypto-clepto-currencies why crypto clepto - HOW MANY OF YOU CAN HONESTLY SAY YOU SAW THIS BOOM er ah um I mean BIT-BUBBLE forming and were smart enough to buy low and sell high - your say so does not count we need to see scrubbed account statements and 1099's otherwise NO PICS or it did not happen.

When WSJ starts asking serious questions even though a number of major Sand Hill Road Palo Alto guys and a working overtime to bring you CCC3 Coins 2.0 (CryptoCleptoCoins) to pump you and take your real money as fast as possible then you have to pay attention.

I spoke to not one but two on my most genius investing contacts one an MIT Genius with a discipline that nets him stupid profits every time VIX runs amok and a PhD who started with $500 and built up a $385K nest egg in Scotttrade (Free Hint #1) and just sent over $200K of State of the Art US Bio Testing Equip back to his Mediterranean home country to set up a testing lab with his cousins all Dr's, Nurses etc etc.

My MIT genius has no clue how to value Bits of Coins however he is intrigued enough to apply some of his VIX analysis proprietary algorithms to analysis of BTC hyperbole to see if it is all phunnie money BS or if it is a big enough market (scam?) to respond to proven free market algorithms - he is making to much money with the NASDAQ setting new Land of Milk and Honey Highs to waste time on China Bit BumpNDumping.

Reality Check I can not get my most successful MIT Hedge Funder or Biotech PhD to look at these (crypto clepto currencies) so why are you?

Not to say I am against creating a new Web 2.0 and improved version of shall we call them Rooshies for Rooskie Bit Crypts that are held in Centralniya BitRooskieya Crypto Clepto Banksii of Barnaul (Why Barnaul? Lots of REAL Gold, Silver and Copper and the complete table of the elements in the Ground around the Altai Region and greater Siberiskii to convert Crypto Clepto Rooskies into Real Rooskie Dineroskii... just saying... OBTW I have very good contacts to find a serious surplus of very hot Siberskiiya Devooshkas in the region to keep you warmskii vile you vait for Crypto Clepto Rooskies to Pump and Dump you Up.

So it is nearly 2014 and I am going to have a Victory Cigar with my MIT Genius friend and then meet my PhD Genius friend on Saturday for lunch - I have a fresh Blue US Benjamin for anyone who can PROVE that he got in at the bottom of this Bitcoin bubble and was smart enough to sell at the absolute top (No Photo-shopped BS docs will not be accepted only real bank statements that we can Log In and Verify)... I will even scan the front and back of the new blue benji and snail mail it to Roosh for safe escrow keeping - that is how sure I am that none of the Bitcoins touts here had a clue about how to call the bottom and top of this BTC Bubble. Happy Phooking New Year 2014!

^ nice junk post. I didn't read most of it so tell me WTF are wanting to say?

(12-31-2013 11:12 PM)el mechanico Wrote:  ^ nice junk post. I didn't read most of it so tell me WTF are wanting to say?

I’m sort of with El Mech on this one; however, I did read the majority of D_Diver’s post. It would have been a little easier to figure out the post if the article had been quoted properly (so we could tell the difference between the author of the article and D_Diver “words of ‘wisdom’ ” - I’m being generous).

(12-31-2013 10:21 PM)Deepdiver Wrote:  So it is nearly 2014 and I am going to have a Victory Cigar with my MIT Genius friend and then meet my PhD Genius friend on Saturday for lunch - I have a fresh Blue US Benjamin for anyone who can PROVE that he got in at the bottom of this Bitcoin bubble and was smart enough to sell at the absolute top (No Photo-shopped BS docs will not be accepted only real bank statements that we can Log In and Verify)... I will even scan the front and back of the new blue benji and snail mail it to Roosh for safe escrow keeping - that is how sure I am that none of the Bitcoins touts here had a clue about how to call the bottom and top of this BTC Bubble. Happy Phooking New Year 2014!

Deep_Diver:
Regarding going to your MIT Genius friend for his advice about the direction of BTC, no disrespect, but who the fuck cares? If the guy is NOT informed about BTC, then he is NOT going to be able to inform you or anyone else about the fate of BTC. Also, if if this genius is already making good money through his other mainstream investments, then he may likely NOT want to divert his investment capital into some area that he does NOT know. So, in fact, your MIT Genius friend’s reluctance to get into BTC tells us nothing about the future of BTC, if any.


Regarding betting on who was able to make a profit on BTC and to get in and to get out of BTC seems to assume BTC is over. Most people who are still participating in this thread are NOT in and then out of BTC completely, and even if some of the RVF’ers may have gotten in low and gotten out high… so what? There are going to be some people who were able to accomplish that kind of timing and/or luck, whether they were RVF members or NOT, who cares?

Regarding the difficulties with establishing BTC relationships with various banking institutions in order to convert fiat into BTC or vice versa, this is NOTHING new to the BTC scene. This fiat/BTC conversion problem has been ongoing and likely to continue to occur in all kinds of variants for quite some time into the future.
As we all have kind of figured out, mainstream banking is fairly nervous and/or hostile regarding BTC, but also Govt are gun shy and potentially hostile about BTC. It is NOT just the money laundering issue, even though that money launderying is one of the concerns that is reported. The conversion and/or regulatory difficulties are so far NOT too difficult to overcome, and the death Knell of BTC has NOT come. Accordingly, we still do NOT know the future of BTC. For example, even if there were some banking freezes, BTC has the capability of getting in and out of BTC through fiat and through direct sales between people.. so there are many ways to get in and out of BTC – but admittedly some of these in and out channels can be cumbersome.

Anyhow D_Diver, are you in BTC at all or are you waiting for a bet in order to disclose your holdings, if any?

(12-31-2013 11:12 PM)el mechanico Wrote:  ^ nice junk post. I didn't read most of it so tell me WTF are wanting to say?

LOL - Classic - There are a lot of guys Touting these junk crypto clepto currencies as get rich quick "investments" on RVF when in fact it is a giant multi Pump and Dump racket to steal most of the RVFers and anyone else's cash to the benefit of a few Touting Pump and Dumpers so I am calling it what it is and willing to put my money where my mouth is for any one who can PROVE me wrong beyond some tough guy keyboard B.S.

(01-01-2014 01:53 AM)Deepdiver Wrote:  

(12-31-2013 11:12 PM)el mechanico Wrote:  ^ nice junk post. I didn't read most of it so tell me WTF are wanting to say?

LOL - Classic - There are a lot of guys Touting these junk crypto clepto currencies as get rich quick "investments" on RVF when in fact it is a giant multi Pump and Dump racket to steal most of the RVFers and anyone else's cash to the benefit of a few Touting Pump and Dumpers so I am calling it what it is and willing to put my money where my mouth is for any one who can PROVE me wrong beyond some tough guy keyboard B.S.

Deep_Diver:

Why are you egging us on like this with your bet? It is new year’s spirit or something?

It's all fine and dandy about your skeptism regarding Bitcoin, but guys participating in this thread are looking for meaningful information about investing (or NOT investing) in BTC. Surely, we like to see the ups and downs regarding BTC; however, likely it is better hearing from people who are actually have some experience with BTC and can make meaningful contributions to the conversation.

Surely, some guys are bearish on BTC, and that is o.k., but if a guy who is bearish wants to participate in this thread, how is that going to contribute.. there is plenty of bearish information contained within mainstream media.

And, actually, some guys want to get rich quick and other guys want to learn about the technologies of BTC and other guys see BTC as a long term investment. There are varying thoughts about BTC.

It seems that if you are just looking to denigrate guys for investing in BTC or to say you are right b/c BTC prices are going down (that is when the are going down), then I am NOT clear how that would be contributing to the discussion of this thread. In fact BTC prices have been going up and down for years, and guys can make money short term (or lose money) on both the ups and the downs – and certainly, it is easier to make money on the ups (if a guy is in at the time). And, also the more volatile a market the more that can be made or lost in a shorter period of time.

So, why NOT just leave us alone on this thread b/c I cannot see how betting us is helpful in anyway or contributing to the discussion of the thread in any way.

There have been quite a few naysayers joining this thread to say "I told you so," yet if guys are investing, they are figuring out maneuvers. In that sense, it seems better to be hearing from guys who have some stake in the game, rather than guys looking in from the outside and repeating: "I told you so" whenever the market goes down.

There are ways to express skeptisim without having to create some kind of ego bet that turns the matter into some kind of ego trip or call us a bunch of names, merely b/c some of us are bullish on BTC and others are looking at timing the BTC market to make money.

So, in that regard, how is your betting us about whether we made money or NOT contributing to this thread in any meaningful way?

(12-31-2013 10:21 PM)Deepdiver Wrote:  I spoke to not one but two on my most genius investing contacts one an MIT Genius with a discipline that nets him stupid profits every time VIX runs amok and a PhD who started with $500 and built up a $385K nest egg in Scotttrade (Free Hint #1) and just sent over $200K of State of the Art US Bio Testing Equip back to his Mediterranean home country to set up a testing lab with his cousins all Dr's, Nurses etc etc.

My MIT genius has no clue how to value Bits of Coins however he is intrigued enough to apply some of his VIX analysis proprietary algorithms to analysis of BTC hyperbole to see if it is all phunnie money BS or if it is a big enough market (scam?) to respond to proven free market algorithms - he is making to much money with the NASDAQ setting new Land of Milk and Honey Highs to waste time on China Bit BumpNDumping.

Reality Check I can not get my most successful MIT Hedge Funder or Biotech PhD to look at these (crypto clepto currencies) so why are you?

Not to say I am against creating a new Web 2.0 and improved version of shall we call them Rooshies for Rooskie Bit Crypts that are held in Centralniya BitRooskieya Crypto Clepto Banksii of Barnaul (Why Barnaul? Lots of REAL Gold, Silver and Copper and the complete table of the

I'm actually more interested in the story behind that.

(01-01-2014 09:40 AM)Neo Wrote:  

(12-31-2013 10:21 PM)Deepdiver Wrote:  I spoke to not one but two on my most genius investing contacts one an MIT Genius with a discipline that nets him stupid profits every time VIX runs amok and a PhD who started with $500 and built up a $385K nest egg in Scotttrade (Free Hint #1) and just sent over $200K of State of the Art US Bio Testing Equip back to his Mediterranean home country to set up a testing lab with his cousins all Dr's, Nurses etc etc.

My MIT genius has no clue how to value Bits of Coins however he is intrigued enough to apply some of his VIX analysis proprietary algorithms to analysis of BTC hyperbole to see if it is all phunnie money BS or if it is a big enough market (scam?) to respond to proven free market algorithms - he is making to much money with the NASDAQ setting new Land of Milk and Honey Highs to waste time on China Bit BumpNDumping.

Reality Check I can not get my most successful MIT Hedge Funder or Biotech PhD to look at these (crypto clepto currencies) so why are you?

Not to say I am against creating a new Web 2.0 and improved version of shall we call them Rooshies for Rooskie Bit Crypts that are held in Centralniya BitRooskieya Crypto Clepto Banksii of Barnaul (Why Barnaul? Lots of REAL Gold, Silver and Copper and the complete table of the

I'm actually more interested in the story behind that.

Read this post of mine then PM me:

http://www.rooshvforum.com/thread-27759-...#pid571313

I am on a demanding Cyber Security Consulting contract in Boston am up at 4:40AM Express Bus to Downtown and then back home around 9PM or later when it snows so not too much time to do my stocks research - So if a few young lions want to do a little work (Research and report on the Stocks I and my PhD have come up on our radar I am willing to let a small handful of real dedicated investors in on this as probably a private Yahoo or Google group (screw facebook its just a cheesy hookup site) and or if I have time a private members only blog - no charge just sweat equity and some smart young minds to keep me on my toes.

I have had a few tough guy PMs LOL - Look at my Avatar I am in that freaking picture - smart guys with mutual respect welcome - tough guy Alpha legends in their own minds want to throw their weight around are just ignored... and remember success is secrecy and secrecy is success.

So when you start to make some serious gains KEEP IT TO YOURSELF and be ALPHA Red Pill and just exude major attitude with the split tails and never let them know how you make your money - trying to impress bitches is blue pill - my guys are all mega red pill when it comes to money because money never shows emotion - only Blue Pill Betas and Bitches do.

Or you can continue to believe in little bits of coins fairy dust that will sweep you off to some magic castle fairy tales - your life so your choice.

Well, that's it, deepdiver's strong arguments & profound logic made me see the light.

(01-01-2014 07:05 PM)Maciano Wrote:  Well, that's it, deepdiver's strong arguments & profound logic made me see the light.

Are you for real? DDiver seems to be coming to the BTC thread and denigrating any of us guys involved in BTC and thereafter pimping some other unknown personal product (that's NOT BTC).

Am I reading this wrong or failing to recognize some kind of humor? And plus we find out from an astute observation of Svenski 7 that D_Diver is NOT human, but instead some kind of sea vessel... which seems to make sense, given DD's RVF name.

I want to do a little bit of an update about how my bitcoin (BTC) dollar cost averaging is working out.

As many of you may recall, in late November 2013, I started my own variation of modified front loading dollar cost averaging when BTC was at its recent $1,200 peak.

At the close of the year, on 12/31/13, with about one month’s investing and the acquisition of about 14.5 BTC, I was at about negative 2.5% since at the end of the year, I could have cashed out at about $750, and my then average price per BTC was at about $761 (accordingly, I am also adding in a 1% transaction fee, if I were to cash out on Coinbase).

Today, however, I could have cashed out at $795, which would have been a 3.5% profit in BTC.

As many of you may realize, I have NO intent to cash out anytime soon, and the amount of volatility that has occurred in the last month was within expectations – even though as it is occurring, we do NOT know whether BTC price is going to recover or NOT or by how much or whether BTC price is going to drop some more. No one wants to buy high and sell low, but as volatility occurs, we do NOT know what is going to happen.

Anyhow, into the next several months, I plan to continue to dollar cost average, even though I really have little idea about the direction of BTC, but my amateur readings of the indicators seem to show that BTC is more likely to go up rather than to go down.

Alternative Crypto Currencies:
Even though at this point, I am asserting to have invested in 14.5 BTC; however, during the past month, I have diverted about 2.5 of those BTC to various Alternative Crypto currencies (each of the seven listed on BTC e). Pretty much throughout the month of December 2013, my investment in those alt crypto currencies was losing value, which caused me to consider whether it is worth it to stay in the alt crypto currencies, when I hardly know anything about them – except for the fact that they are sufficiently recognized as to be traded on BTC e.

Throughout the last couple of days, these various alt cryptos have been doing very well on the exchange, and they have pretty much made up their lost values through December and overall, as a whole, the package of those alt crypto currencies are currently worth about the same amount as I have invested into them.

Even though I have various reservations about the alt crypto currencies, likely, I am going to keep my low ratio of investment in them, mostly as a means to create an incentive for me to pay attention to them, but without a large enough investment to break my bank. So, likely in the near future, absent some revelatory and relevant news, I intend to continue to invest more than 85% of my cryptocurrency investment into BTC.. and dabble less than 15% of my cryptocurrency investments in alt currencies.

Since about December 21, 2013, I have been moving away from a belief that I need to invest in BTC on a daily basis, and primarily, I have been getting the sense that I am becoming sufficiently front loaded in my investment in BTC… to feel that I have some stake in the game. So, now I am considering investing larger amounts of my limited resources on price dips and lesser amounts on a daily basis (and even skipping days, in anticipation of price dips); however, I will continue to invest every few days, even if the BTC price keeps going up – even though my inclination is to buy when BTC price goes down and to sell when it goes up (even though I am NOT practicing the selling part – therefore selling to me means to buy less when BTC prices are going up).

Do guys have any thoughts about the direction of BTC prices? We still have ongoing China and India restrictions; however, on the other hand there is a lot of BTC infrastructure continuing to be created throughout the world, including the expansion of BTC ATMs in Israel. And, generally, it seems that BTC’s user base is continuing to go up.


Finally, Rhodri Marsden’s article from today threw me for a little bit of a loop. He claims to be a tech writer; however, he does NOT really seem to be writing from a perspective that is informed about BTC (which is common for a lot of these mainstream writers who seem to be spewing out several myths and scare tactics without really getting at core contentions).
http://www.independent.co.uk/life-style/...35507.html

One quote I found interesting in Marsden’s article is that he found four categories of BTC users:

Quote:“Bank of America has said that Bitcoin may emerge "as a serious competitor to traditional money providers" – but that feels like a long way off. Bitcoin users fall into four categories: tech-heads fascinated by the maths; traders trying to make a fast buck; a few people trying to buy ecstasy; and libertarians who see its use as some kind of political statement, a method of escaping the scrutiny of government.”

Personally, I felt that I do NOT fall in any of those four categories. How about you guys? Do you fall in one of the four categories?

That's nice Jay Juan. I don't think any of us are on the same page. In other news I pumped NMC starting last night today and been back in fiat since 4 pm.

Alright I'm going to be making my first purchase soon.

Any suggestions for buying in Canada?

I've seen a few different options but not sure who would be best...

(01-03-2014 12:32 AM)LeBeau Wrote:  Alright I'm going to be making my first purchase soon.

Any suggestions for buying in Canada?

I've seen a few different options but not sure who would be best...

I posted this last page on Canadian options.

(12-28-2013 04:52 AM)Emancipator Wrote:  Don't go with CAVirtex, they have weird fee structure and clauses in the contract (inactivity = funds being taken).
Not to mention the engine lags like crazy, have issues withdrawing/depositing and verification is backed up.

Canadians can still use Coinbase, here's the trick I used: RBC
Open an American USD account at RBC, then coinbase will see you as valid.

As a Canadian I use the following:
Coinbase
Vault of Satoshi
Localbitcoins
Quickbt
I've yet to use the bitcoin shop, bitcoin atm and cavirtex (verification took ages, and when issues with them came to light I decided to just stick to the other options)