(04-27-2014 06:36 AM)shanked Wrote:  Il admit im still new to cryptos. Already made some mistakes making investments based on emotion. What I meant is bitcoin isnt backup by anything physical like gold correct me if im wrong? Anyway learning more everyday

When you initially made your statement, you were suggesting that Maidsafecoin was a better investment than BTC by suggesting that Maidsafecoin was backed by something and BTC is NOT.

Your statement is wrong, and being backed by gold is NO resolution to any meaningful issue in bitcoin... it is a form of FUD spreading that likely has been discussed several times in this thread.

If you compare the two in terms of whether they are backed by anything, BTC is more backed than Maidsafecoin b/c BTC has been developing a network and various forms of public adoption for more than 5 years and openly traded for about 3 years, and Maidsafecoin is just hit the trading market... and accordingly is fairly obscure to anything but technical geeks.

Maidsafecoin may potentially have more upside potential in the short-term than BTC b/c only recently Maidsafecoin has been open to the public for trading. BTC, on the other hand, went through recent thousands of times increases in value, and is currently in a price retraction (or maybe more accurately consolidation) phase. Those facts do NOT make BTC less valuable than Maidsafecoin, even though the short term potential for an upside with Maidsafecoin prices may be better for Maidsafecoin, as compared with BTC prices.

Just this morning I came across this article written by Gyft CEO, and even though he is a long term bitcoin bull, he speculates that for the next quarter (approx. April through July 2014) bitcoin prices will float between $350 and $550, and he sets forth several decent arguments for such delay in any BTC rocket departure.

(04-27-2014 01:04 PM)JayJuanGee Wrote:  Just this morning I came across this article written by Gyft CEO, and even though he is a long term bitcoin bull, he speculates that for the next quarter (approx. April through July 2014) bitcoin prices will float between $350 and $550, and he sets forth several decent arguments for such delay in any BTC rocket departure.

Good article and it makes sense. Like he said, there are only a few ways to get into Bitcoins and a million ways to cash out your Bitcoins out. We see so many new stories about a new way to redeem Bitcoins but it does nothing to increase the price because that is not where development is needed. We need it to be very simple and easy for the masses to get into Bitcoin and when the happens the price will take off again.

(04-27-2014 07:47 PM)username Wrote:  

(04-27-2014 01:04 PM)JayJuanGee Wrote:  Just this morning I came across this article written by Gyft CEO, and even though he is a long term bitcoin bull, he speculates that for the next quarter (approx. April through July 2014) bitcoin prices will float between $350 and $550, and he sets forth several decent arguments for such delay in any BTC rocket departure.

Good article and it makes sense. Like he said, there are only a few ways to get into Bitcoins and a million ways to cash out your Bitcoins out. We see so many new stories about a new way to redeem Bitcoins but it does nothing to increase the price because that is not where development is needed. We need it to be very simple and easy for the masses to get into Bitcoin and when the happens the price will take off again.

Actually, I kind-of agree with the point that you are making in your above post, and the point may have been made in the article.

In sum, being able to get out of bitcoin easily seems to be bad for bitcoin prices in the short-term; however, being able to easily get out of bitcoin is likely going to be good for long-term adoption and long-term bitcoin prices b/c being able to easily get out of bitcoin is going to create additional assurances for the masses when (or if) they begin bitcoin adoption.

Actually, I can also reassert this claim from my own personal experience(s). When I first got into bitcoin (in late November 2013), I was trying to figure out various exit strategies, in the event that BTC matters were to go southward.

Accordingly, having a variety of exit avenues is going to inspire confidence with a large number of people when (and/or if) they start to plop their fiat into BTC.

Speaking of new development:

http://bitcoin.mit.edu/announcing-the-mi...n-project/

Since it is at MIT I am thinking of attending their BTC presentations as you never know what new ideas and tech may come out of it...

(04-30-2014 05:58 PM)Deepdiver Wrote:  Speaking of new development:

http://bitcoin.mit.edu/announcing-the-mi...n-project/

Since it is at MIT I am thinking of attending their BTC presentations as you never know what new ideas and tech may come out of it...

DD: I thought that the last times that you visited this bitcoin thread, you were all negative about bitcoin, and pimping some other investments.

Have you had some kind of change of heart in the last few months in respect to bitcoin or were you planning to lay another investment sales job on us?

Here is a very recent panel discussion of bitcoin: http://www.youtube.com/watch?v=4pBd-OD9Rns

I believe that the discussion very good about going over some bitcoin basics and also articulating some of the future challenges for bitcoin.

I believe some of the questions could have been better b/c the moderator seems to be somewhat confused about some aspects of bitcoin - nonetheless, the panel did go over several good contemporary bitcoin issues.

(05-03-2014 08:48 PM)brg444 Wrote:  http://www.youtube.com/watch?v=tqlvk51uS1M&app=desktop

Four hours... holy fuck!!!!

You have any special points within the video that you would like to highlight for us?.
I am looking at the lawyer's presentation.. that is taking place in the first 20 minutes of the video... apparently.. that's what he said.

I imagine there are more presentations after the lawyer is done with his part..

(05-03-2014 10:19 PM)JayJuanGee Wrote:  

(05-03-2014 08:48 PM)brg444 Wrote:  http://www.youtube.com/watch?v=tqlvk51uS1M&app=desktop

Four hours... holy fuck!!!!

You have any special points within the video that you would like to highlight for us?.
I am looking at the lawyer's presentation.. that is taking place in the first 20 minutes of the video... apparently.. that's what he said.

I imagine there are more presentations after the lawyer is done with his part..

I haven't got around to watch it yet so this is why I didn't comment on anything.

The whole thing is actually longer and it seems like there are some speakers missing.

schedule is here : http://mitbitcoinexpo.org/

I'm sure the 4 hours are well worth the watch. Some very high profile speakers

edit : it seems like the whole thing is back up now 6:43:37 hehe

Sean Neville from Circle is up at 1:50.

I'm very interested in what Circle is doing. It looks to me as if they could have an AOL-type impact on Bitcoin

Here is a link to a fairly decent article describing 22 areas in which bitcoin has "intrinsic" value.

Regarding argument 21:

>>>>>>21. It can be extremely hard to steal. Muggers of the future will be at a loss for what to do with the bitcoin they can’t take from your wallet or purse. That money will be no good to them without the private keys to spend it. There likely will no longer be credit cards there was well. Could robbery itself become obsolete? Hackers will soon have a difficult time stealing money from multi-signature wallets.<<<<<<<

I still remain a little bit concerned about how theft is going to play out with bitcoin - b/c in some ways, it may be easier for "bad" people to hold someone hostage and to torture the person, if s/he knows that the person controls large sums of bitcoins. So, instead of being robbed of $250 cash while backpacking in Honduras, instead, the "bad" people get away with 31.0638168 BTC - which may be your whole life savings. Holding rich people for ransom may get easier in some ways, if using bitcoin.


By the way, have any of you bitcoin bulls lost hope in bitcoin yet? Bitcoin prices have been floating in these $400s for more than a month.

(05-08-2014 01:39 PM)JayJuanGee Wrote:  Here is a link to a fairly decent article describing 22 areas in which bitcoin has "intrinsic" value.

Regarding argument 21:

>>>>>>21. It can be extremely hard to steal. Muggers of the future will be at a loss for what to do with the bitcoin they can’t take from your wallet or purse. That money will be no good to them without the private keys to spend it. There likely will no longer be credit cards there was well. Could robbery itself become obsolete? Hackers will soon have a difficult time stealing money from multi-signature wallets.<<<<<<<

I still remain a little bit concerned about how theft is going to play out with bitcoin - b/c in some ways, it may be easier for "bad" people to hold someone hostage and to torture the person, if s/he knows that the person controls large sums of bitcoins. So, instead of being robbed of $250 cash while backpacking in Honduras, instead, the "bad" people get away with 31.0638168 BTC - which may be your whole life savings. Holding rich people for ransom may get easier in some ways, if using bitcoin.


By the way, have any of you bitcoin bulls lost hope in bitcoin yet? Bitcoin prices have been floating in these $400s for more than a month.

not a bit. I'm seeing a rally on the horizon. next month is very important

(05-08-2014 06:06 PM)brg444 Wrote:  

(05-08-2014 01:39 PM)JayJuanGee Wrote:  Here is a link to a fairly decent article describing 22 areas in which bitcoin has "intrinsic" value.

Regarding argument 21:

>>>>>>21. It can be extremely hard to steal. Muggers of the future will be at a loss for what to do with the bitcoin they can’t take from your wallet or purse. That money will be no good to them without the private keys to spend it. There likely will no longer be credit cards there was well. Could robbery itself become obsolete? Hackers will soon have a difficult time stealing money from multi-signature wallets.<<<<<<<

I still remain a little bit concerned about how theft is going to play out with bitcoin - b/c in some ways, it may be easier for "bad" people to hold someone hostage and to torture the person, if s/he knows that the person controls large sums of bitcoins. So, instead of being robbed of $250 cash while backpacking in Honduras, instead, the "bad" people get away with 31.0638168 BTC - which may be your whole life savings. Holding rich people for ransom may get easier in some ways, if using bitcoin.


By the way, have any of you bitcoin bulls lost hope in bitcoin yet? Bitcoin prices have been floating in these $400s for more than a month.

not a bit. I'm seeing a rally on the horizon. next month is very important

What's happening in the next month?

Do you think that these GOX developments and China exchange difficulties are running out of steam? I have NO idea.. but it does seem like BTC prices have been floating in this trough for a while. I certainly would buy some more BTC if I had a bit more spare cash.

I am holding onto some of my fiat in the event prices sink lower again, though..

I would be fairly surprised if prices were to traverse below $400.

I know that I have been making similar comments about prices going NO lower for about 3 months, since about $600-ish, but I still think that prices are going to shoot up at some point in the very near future... I will predict that the prices will shoot up anywhere between 1 hour from now and 3 months... he he he.. what a range? If they do NOT shoot up soon.. they will probably continue to trickle downward, ... I think selling supply is drying up.. absent some fairly major negative news or FUD spreading...

(05-08-2014 06:06 PM)brg444 Wrote:  not a bit. I'm seeing a rally on the horizon. next month is very important

Yeah soon there wont be any more coins available for sale at this price.

Here's a copy of an e-mail that I recently sent to my nephew... to attempt to get him to set up a bitcoin wallet. I thought that some of you guys may find some template like this to be useful

>>>>>>>>>>>>>>>>>>>Hey ________:
I was going to send you this bitcoin information earlier; however, I got caught up with ______ and _________.

If you set up a bitcoin wallet, and then e-mail me your wallet address, I will send you approximately the equivalent of $______ in bitcoins.

You can set up a free and secure bitcoin wallet at Blockchain at: https://blockchain.info/wallet. They have other good information at that blockchain website, too.

There are other good bitcoin information sources for new bitcoin users, such as:

http://www.reddit.com/r/Bitcoin/comments...ease_read/
and

http://www.coindesk.com/information/

and

http://www.reddit.com/r/Bitcoin/comments...ease_read/

I purchase most of my bitcoins through coinbase.

https://coinbase.com

If you want to set up an account with coinbase, it will take you a little while to get your account verified.

Call or e-mail me if you have any questions or concerns.<<<<<<<<<<<<

Going up! Why?

(05-20-2014 11:54 AM)el mechanico Wrote:  Going up! Why?

I do NOT know about any specific short-term good news that caused this price spike.

We know that BTC prices have been fairly flat and consolidating for a couple of months, now. I think the theory is that the value would break out, either up or down.. and looks like we are going up.. he he he.

Breaking out to the upside seemed to have been more likely than NOT based on the three-day candles.

https://bitcoinwisdom.com/markets/bitstamp/btcusd

According to the three day candles, the MacD crossed over to the upside about a week ago, yet going up is NOT inevitable.. even though there has been upward price pressures in the technicals.

Hopefully, you (El Mech) have not moved into Alts or took some other rash action regarding your BTC investment, b/c we are likely getting back into the $700s and above within the coming months - and who knows exactly?

Even though I am mostly in BTC - b/c I have been buying for months (during the BTC price decline), I am NOT going to rest assured that the upward BTC price movement is guaranteed... But I am neither buying NOR selling. I am HODLING and waiting for my portfolio to get back into the black ($597 at this point).

Nonetheless, it seems that there are quite a few BTC fundamentals in place in order to get our BTC price movement towards the next bubble in the near future.... I would prefer to have this bubble sooner rather than later, but I have NO problem waiting out the next choochoo to DA moon, which seems inevitable (strong language, I know).

Not surprised that it jumped up.

Just surprised that the price didnt move more than one single dollar for several weeks and then moved $50 in one day.

Probably mostly caused by an institutional buyer or investor getting into the game. Cant see any other reason. No particular "good news" came out so dont see any other reason.

Read on reddit that 700 BTC was bought buy a single buyer. Not easy to predict trends from individuals.

On the other hand there are people with lots of money, wanting in bitcoin deep.

700BTC*450USD = 315 000 USD in one trade, thats gotta be above most basement traders.

(05-21-2014 03:46 AM)pants Wrote:  Read on reddit that 700 BTC was bought buy a single buyer. Not easy to predict trends from individuals.

On the other hand there are people with lots of money, wanting in bitcoin deep.

700BTC*450USD = 315 000 USD in one trade, thats gotta be above most basement traders.

This short article also provides some speculative points about the recent BTC price spike, and anticipates BTC prices to be around $1,350 in mid July 2014.

http://www.geekcipher.com/technology/bit...20th-2014/

Also note that the thailand exchange appears to be coming back online - which may help some RVF guys living in Thailand to be less self conscious about getting their asses thrown in the slammer or some worse fate b/c of their holding and/or trading BTC in Thailand... he he he..

(05-21-2014 03:46 AM)pants Wrote:  Read on reddit that 700 BTC was bought buy a single buyer. Not easy to predict trends from individuals.

On the other hand there are people with lots of money, wanting in bitcoin deep.

700BTC*450USD = 315 000 USD in one trade, thats gotta be above most basement traders.

Pretty much what I figured.

I'm sure it was El Chapo or Hussein Obama taking bitcoins off the market. Could be The Fed.

If any of you recall the multiple postings regarding Peter Schiff, and his negativisms regarding bitcoin, well now it seems that Schiff has come over to bitcoin. His gold site is NOW accepting bitcoins. In other words, he seems to have converted from a bear into a bull or at least from a bear into a not bear.


http://blog.europacmetals.com/2014/05/eu...s-bitcoin/

Back over 500 - sweet!

I can see this rally taking the price up to about 660 during June.

(05-22-2014 02:27 PM)JJ Roberts Wrote:  Back over 500 - sweet!

I can see this rally taking the price up to about 660 during June.

Bitcoin prices have been fairly exciting over the last few weeks to go from the mid $400s to the upper $500s. I was within about 1% of being back in the black, since my average buy in price is now $595.

I certainly have missed a few opportunities, including buying more coins in the $350 range. I ran out of fiat in that day or so that the price floated in that range.

I am hoping that BTC prices stay below $600 for the next 4-6 weeks b/c I am expecting to receive quite a bit more fiat, but I am NOT exactly sure about the amount or the date(s) that I will have full access to that money.

Therefore, I will be selling that fiat for the BTCs.

Another possibility would be to leverage, but I am worried about leveraging, just in case the fiat does NOT come through and just in case BTC prices go down, rather than up.... though BTC prices do seem very posed for a further upswing.... I was just hoping and praying that the BTC choo choo train/rocket holds off long enough for me to get my grubby little hands on that fiat and to make my additional BTC purchase(s).