(01-07-2014 08:47 PM)JayJuanGee Wrote:  

(01-07-2014 07:04 PM)el mechanico Wrote:  Jay Juan, how's it hanging?

Thanks for the personal inquiry. It’s nice to see that you are interested.

As soon as El Mech starts gloating in a sort of "I told you so" manner that a guy should be in dollars, it must be time to buy BTC... That means that BTC is at its bottom. That's a joke.. (kind of), b/c El Mech may be correct this time (the stopped watch theory) that BTC is going down, this time.

Actually, El Mech, NOT to be so direct (b/c none of us knows what the fuck this BTC price is doing, exactly), but it seems that in the last month you were in dollars a couple of times when BTC had fairly significant upward explosions, including this recent four-day run from about $750s to $990s (more than a 30% increases in four days). Now, BTC seems to be back down to around its price from NYE time frame (and you have been out of BTC for this whole time, no?)

Anyhow, it would be a losing argument for me or anyone else participating in this thread to attempt to pin you down into any such 30% or more LOSS IN GAINS that you likely would have experienced over these past several weeks that you have been asserting that BTC prices are falling. We cannot pin you down b/c you are NOT really letting us know specifics about your investment(s) into BTC ahead of time and before the market moves and I do NOT really care if you chose to be in dollars - except for the fact that you feel a kind of need to gloat about falling BTC prices, when they finally come to the falling point.. If you did NOT gloat, then there would be NO need to say anything about whether any guy is losing opportunities by NOT being in BTC. I do NOT sense any need to be right about anything regarding the price of BTC (which I keep repeating).

If my memory serves me, you have been suggesting BTC is going down for more than the past month and finally after nearly 3 weeks of steady upward movement of BTC (from December 21 until January 6), finally, you have a chance to again tell us look, BTC is going down and you should be in dollars..
On December 21, BTC was at $580-ish, so BTC is still up from that price point, and maybe BTC prices will go down below $580 this time? Personally, I am kind of hoping that BTC prices will go down to lower $500s in order that I can buy some more BTC.

On several occasions, I have provided fairly specific details of nearly my whole BTC related portfolio (as my portfolio has been evolving), and yes, when a guy provides that level of specificity, then he becomes vulnerable to "I told you so" suggestions.

I expect that there may be times in which my specific portfolio is going to be down.. and that is part of the possibilities with any risky investment(s) and accordingly my plan has been to be buying BTC while the price is going down.. and gambling that the price will go back up - which we all know that part of any gamble is that the hoped-for result may NOT take place.

By the way, TODAY, since I have been buying as BTC prices have been going down all day, I bought at $880, $837, $814 and $769 (my total buying today, so far, has been .7 BTC). My next buy point is likely to be $730 if BTC price gets to that low today. The quantity of my next BTC purchase would depend upon how quickly the BTC price were to get to that price point, if at all, and if it appears to be going lower. Of course, if the price is going lower, then I will NOT buy at that price point. I would buy at the lower price point.

At the moment, my portfolio has a $768 average BTC price, and accordingly, my portfolio is about 4.2% up (on paper), since within the past 30 minutes, I could have sold at about $807. Anyhow, as I write the current BTC sales price is $791. Nonetheless, it would have been possible, for me to sell within the last 30 minutes at $807, if I would have wanted to sell but I do NOT want to sell. Also, it is possible that BTC will go into the $500s or lower today or this week, then I would be at a loss point (on paper). At this time, I do NOT know whether BTC is going down further than its current price, and I do NOT feel comfortable taking any chance on selling because I do NOT see such sell indicators. If I had wanted to sell, I would have done so, yesterday while the prices were going up. My general approach is to sell while prices are going up, and NOT to sell while they are going down, unless there is a specific reason to abandon ship.

Hopefully that helps.

Well that escalated quickly.

(01-07-2014 09:08 PM)CaliforniaSupreme Wrote:  Well that escalated quickly.

Escalation? hehehe...

I would call it explanation for anyone who may recognize the context.

And, these kinds of BTC price matters may become particularly interesting when prices become quite volatile and on the move in one direction and then in the other direction and then???? what? reversal... BTC prices were becoming a bit boring between 12/22 and 12/31, and in the past week, they have heated up, again.. with potential gains and losses.

I'm not gloating and if this thread was faster I would update it all day live.

@ Jay.. I'm fast and do not read your long winded stuff. Respond here in a few sentences so we can keep the ball rolling please.

Or catch up with me in the trollbox pm me for my user id.

(01-07-2014 10:04 PM)el mechanico Wrote:  I'm not gloating and if this thread was faster I would update it all day live.

@ Jay.. I'm fast and do not read your long winded stuff. Respond here in a few sentences so we can keep the ball rolling please.

Or catch up with me in the trollbox pm me for my user id.

Regarding length of posts. Different strokes for different folks, I suppose.

Thanks for the invitation to the BTC e trollbox, but NOT too likely that you would find me participating in the trollbox. Generally, i am NOT too tolerant of a streaming format... ... except when I was learning Spanish, i found a streaming text format to be very interesting and helpful for that purpose.

Regarding my posts in this thread. Surely, it's your choice about whether you are inclined to read them or whether you consider them to be lengthy or NOT... or for whatever other reason(s).

When I say fast it's this fast!

One minute

Which is one hour in the BTC world

See you in the trollbox

Yeah...? hehehe... For the most part, that's NOT my style of interaction ... but NO problem if you find that to be helpful. I would rather read a long article or a book than the attempt to keep up with multiple people chiming in on multiple threads of thought.

The real problem with Bitcoin is that nobody is buying it for it's intended use, everyone who is in it or considering getting into is doing it on the chance of making a buck. How it can flip from this speculative phase to a more stable one where people would actually use it as a currency I don't know.

I'm getting good enough at this to tell when a crash is ending..buy and sell orders can be deceiving though they seem to come out of nowhere. I'm going to pump NMC next crash

(01-08-2014 09:57 AM)EuroSlumming Wrote:  The real problem with Bitcoin is that nobody is buying it for it's intended use, everyone who is in it or considering getting into is doing it on the chance of making a buck. How it can flip from this speculative phase to a more stable one where people would actually use it as a currency I don't know.

That time will come and when it does you'll wish it was like it is now..Fun.

Todays dump #1 has begun

I think it was Mech who said it earlier, but the forum should try to set up a mining thing.

https://products.butterflylabs.com/homep...power.html
This seems like the best option for now if you're broke and trying to mine some coins. Once they get it up and running, it will be nice to have the mining done for you.

The learning curve for this mining shit is steep, but even on my shitty laptop, I was able to mine a few Coins from some other currency called Coiyne.

(01-08-2014 11:26 AM)Rosca Wrote:  I think it was Mech who said it earlier, but the forum should try to set up a mining thing.

The learning curve for this is steep, but even on my shitty laptop, I was able to mine a few Coins from some other currency.

how did you do it? and what kind of currency was it?

It was the recently launched Coinye Coin.
1: Get a Coinye Wallet
http://coinyecoin.org/

2: Read this.
https://bitcointalk.org/index.php?topic=396068.0

3: Join one of the pools and read their Get Started.
I joined this one http://pool.coinye.pw/index.php. They're helpful as fuck if you talk to them on IRC.

Shit people was willing to trade some of the better miners 3BTC for like 3 Million Coinye.

Note: This isn't as profitable as Bitcoin, but I learned a lot about mining through this.


My Coinye wallet as of today.

Cool! ^^

Hey Rosca.
http://www.pcworld.com/article/2085360/k...pired.html

(01-08-2014 11:51 AM)Rosca Wrote:  It was the recently launched Coinye Coin.
1: Get a Coinye Wallet
http://coinyecoin.org/

2: Read this.
https://bitcointalk.org/index.php?topic=396068.0

3: Join one of the pools and read their Get Started.
I joined this one http://pool.coinye.pw/index.php. They're helpful as fuck if you talk to them on IRC.

Shit people was willing to trade some of the better miners 3BTC for like 3 Million Coinye.

Note: This isn't as profitable as Bitcoin, but I learned a lot about mining through this.


My Coinye wallet as of today.

Rosca:
It is really funny that there are so many alternative crypto currencies that are out there, and recently, i have been hearing about several alt crypto currencies and they are NOT even listed on the Coinmarketcap website.

As I type, there are 71 crypto currencies listed on that site, and about 6 weeks ago, there were only 37 crypto currencies listed on that website.

Some days those crypto currencies gain greater than BTC and other days lose greater than BTC (sometimes in the same day). Certainly, there are opportunities to win or lose big with those, but also funny is that some of them have a fairly solid infrastructure and are built on the BTC blockchain. Others have their own blockchain(s)... most of them are NOT as liquid as BTC (and that is NOT saying a whole heck of a lot b/c BTC is NOT exactly liquid).

I certainly feel some reservations in getting involved too extensively investing in these various alt crypto currencies - despite some of the allure towards the high percentage yields that sometimes seem to take place with some of them.

(01-08-2014 09:57 AM)EuroSlumming Wrote:  The real problem with Bitcoin is that nobody is buying it for it's intended use, everyone who is in it or considering getting into is doing it on the chance of making a buck. How it can flip from this speculative phase to a more stable one where people would actually use it as a currency I don't know.

EuroSlumming:

Even though we refer to Bitcoin and various other alt crypto-currencies as "currencies," we may acting a bit loosely with our understandings and expressions. Maybe "currency" is a form of short hand, and surely these crypto currencies are considered as currencies.

However, they are more than just currencies, and are also like commodities, as well, or some other store of value.

I get a little bothered when guys use absolutes to describe what is happening with BTC or any other cryptocurrency when you say: "nobody is buying it for it's intended use." There is a lot going on with BTC and with other cryptocurrencies, and what is BTC's intended use? When you get mass adoption, you may get a lot of deviation from "intended use."

There is a lot going on with BTC including the fact that more and more venders are accepting it, more and more investment is being made into mining, various early adopters are becoming shocked by BTC and investing more into BTC, venture capital is taking serious looks at BTC, governments are taking serious looks at BTC and ATMs are being manufactured, installed and considered. There is lot of activities behind the BTC scene, in spite of a large number of people considering getting rich quick schemes.

The get rich quick schemes are going to be true with anything that is up and coming, and BTC still seems to be in its very infancy stages, in spite of the recent spike to $1,200... that is a recent spike, and around 99.5% of the world's population does NOT know WTF bitcoin is.

El mech

At what price do you get back in? I think 770-750$.

I don't get why litecoin is still this high. So many coins not mined yet, no devs or merchandiser. Weird.

Coinye West will be useful, proving lawyers can't stop crypto.

Even Doggycoin serves a purpose, you now have little kids interested in mining bc of DOGE.

^ I'm only getting in for short pumps but If long term I would buy back in at 300 or so if possible.

(01-08-2014 03:44 PM)el mechanico Wrote:  ^ I'm only getting in for short pumps but If long term I would buy back in at 300 or so if possible.

Surely, each of us has BTC expectations, and it seems likely that BTC is going to have a few more crashes before it goes up. Crashes have been part and parcel of BTC's history.

Frequently, when these recent BTC crashes have occurred, a guy has only had minutes to buy in at the lowest point(s), yet the same guy may have had hours to buy in at a higher "low" range. Frequently, a problem is that such guy does NOT know how long the crash will last or how low it will go, and for that reason, we have to be prepared to pull the trigger at our preset price point.

At this time in my thinking, it seems fairly likely that we will have a BTC crash that brings BTC prices down into the $500s, but less likely to bring those prices down into the $400s or $300s (though possible). I am hoping for a BTC crash to buy more, but I am hedged in BTC in the event that such a crash does NOT happen.... and in this regard, there is a POSSIBILITY, though seemingly low, that BTC prices will NEVER go below $800 ever again.

That system that you describe sounds as if it creates an incentive for the proliferation of many miners (which is a good thing).... and it sounds as if it could be fairly profitable to be in it in the short-term, even though you may have to continue to increase your hash rate in order to stay profitable, depending upon what others do.

Is 8 mH considered to be a good amount of power these days?

what pool you use? Multipool?

This 2:nd generation coins are interesting
Mastercoin
Nxt and
eMunie