I don't see any significant problem with hoarding (or saving or not spending) those 30,000 BTC. Such "hoarding" would not really hurt anyone in the BTC sphere or bitcoin itself.

It's actually the opposite.

I could imagine several worse case scenarios for the buyer to use the 30k bitcoin to attempt to manipulate bitcoin prices by dumping coins in various ways.

However, it seems fairly likely that the winner of the coins paid a premium for them, and therefore there exists less incentive for dumping and more likely the purchaser is in for the long term and even if s/he does dump, there is NOT a financial incentive to dump.

I'm really looking forward to finding out more info regarding both the price of the winning and the losing bids.

http://www.chicagotribune.com/business/b...8036.story

30.000BTC Silk road coins sold for $18.000.000
= $600 each in US government auction

One buyer, 18.000.000 USD, 30.000 BTC.

Starting to feel a bit paranoid.

Whats this guys plan?

600 usd/btc is way above what I expected though.

(07-02-2014 09:48 AM)pants Wrote:  One buyer, 18.000.000 USD, 30.000 BTC.

Starting to feel a bit paranoid.

Whats this guys plan?

600 usd/btc is way above what I expected though.

Well he cant sell them for 642 because the second he starts they will be 500 in one minute.

So Hodl!

Draper intends to partner with Vaurum to use the roughly 30,000 BTC to provide bitcoin liquidity in emerging markets.

Draper said:

“With the help of Vaurum and this newly purchased bitcoin, we expect to be able to create new services that can provide liquidity and confidence to markets that have been hamstrung by weak currencies.”

Great news... great news... 2014 is getting better and better. Year ago Bitcoin was almost nothing, now it is more than something.

I said somewhere in this thread that BTC would be perfect for countries with shit money. So this dude is going to make it work for them while lining his pockets. Fuck China and their drama anyway.

I think were going up.

[attachment=19535]

I cannot think of any other instrument, policy or action which could be as effective for helping developing countries than Bitcoin, because the corruption of money is so bad there. All the leftists and charity folks who claim to care for these people, especially the poor, should really be interested in Bitcoin because this is a HUGE thing for the poorest of the poor.

(07-02-2014 01:36 PM)strengthstudent Wrote:  I cannot think of any other instrument, policy or action which could be as effective for helping developing countries than Bitcoin, because the corruption of money is so bad there. All the leftists and charity folks who claim to care for these people, especially the poor, should really be interested in Bitcoin because this is a HUGE thing for the poorest of the poor.

Explain how you would buy eggs, water, rice, and diapers in BTC while shopping at your local Harare street stall....

I'm curious

(07-07-2014 01:42 AM)Cattle Rustler Wrote:  

(07-02-2014 01:36 PM)strengthstudent Wrote:  I cannot think of any other instrument, policy or action which could be as effective for helping developing countries than Bitcoin, because the corruption of money is so bad there. All the leftists and charity folks who claim to care for these people, especially the poor, should really be interested in Bitcoin because this is a HUGE thing for the poorest of the poor.

Explain how you would buy eggs, water, rice, and diapers in BTC while shopping at your local Harare street stall....

I'm curious

Well, the absolute poorest won't be able to afford smart phones but even those are getting so cheap that they are becoming very common in Africa. In fact, in a few years most of the Africans will own a smart phone. Even without the phones, you don't necessarily need electronics with bitcoin, because you can print some bitcoins on a paper/card with a QR code -- in this occasion only the seller would need to have a phone.

After reading the BTC thread, and researching on BTC myself, I just kicked muyself in the head for not looking into it back in 2012 when it was 12USD, as compared to 629USD today [/align]

(07-07-2014 07:19 AM)PakiRambo Wrote:  After reading the BTC thread, and researching on BTC myself, I just kicked muyself in the head for not looking into it back in 2012 when it was 12USD, as compared to 629USD today [/align]

Man can you imagine that you did know about it 2012 but didn't buy more? Could have been financially independent by now.

Or selling in October last year and then see it go up 5-10x? Or a month ago at $340?

But of course it's pretty sweet.

(07-07-2014 10:43 AM)Satoshi Wrote:  

(07-07-2014 07:19 AM)PakiRambo Wrote:  After reading the BTC thread, and researching on BTC myself, I just kicked muyself in the head for not looking into it back in 2012 when it was 12USD, as compared to 629USD today [/align]

Man can you imagine that you did know about it 2012 but didn't buy more? Could have been financially independent by now.

Or selling in October last year and then see it go up 5-10x? Or a month ago at $340?

But of course it's pretty sweet.

I remember reading about BTC before it's launch. At the time I told myself "Hah, don't invest in it. It's some geek shit that will fail in a few years!"

Should have just installed their software on your laptop and kept it running

Maybe mined 10 000 BTC in the first year, costing you maybe 100USD tops in electricity.


You could live on one of these! "What if?!" Its a fun game isn't it

(07-07-2014 05:26 AM)strengthstudent Wrote:  

(07-07-2014 01:42 AM)Cattle Rustler Wrote:  

(07-02-2014 01:36 PM)strengthstudent Wrote:  I cannot think of any other instrument, policy or action which could be as effective for helping developing countries than Bitcoin, because the corruption of money is so bad there. All the leftists and charity folks who claim to care for these people, especially the poor, should really be interested in Bitcoin because this is a HUGE thing for the poorest of the poor.

Explain how you would buy eggs, water, rice, and diapers in BTC while shopping at your local Harare street stall....

I'm curious

Well, the absolute poorest won't be able to afford smart phones but even those are getting so cheap that they are becoming very common in Africa. In fact, in a few years most of the Africans will own a smart phone. Even without the phones, you don't necessarily need electronics with bitcoin, because you can print some bitcoins on a paper/card with a QR code -- in this occasion only the seller would need to have a phone.

I believe that the m-pesa mobile phone money transfer system in Africa, to which S_Student seems to refer, does NOT necessarily require a smart phone, and merely having the ability to send text messages from your phone is sufficient. There is at least one company attempting to bring these abilities to bitcoin.

Even though some of these various technologies (and software applications) may NOT currently be in place for bitcoin in a user-friendly breadth, there is continuing to be several venture capital developments regarding creating and spreading more extensive user friendliness.

Currently, there may NOT be a lot of ease of use solutions in place concerning spending bitcoin, and in that regard, we need to have some patience or at least monitor how this is developing. Many people who are bullish about bitcoin expect these improvements in the future rather than believing that these improvements need to be in place in the present in order for bitcoin to be valuable in the present.

(07-07-2014 01:02 PM)Cattle Rustler Wrote:  

(07-07-2014 10:43 AM)Satoshi Wrote:  

(07-07-2014 07:19 AM)PakiRambo Wrote:  After reading the BTC thread, and researching on BTC myself, I just kicked muyself in the head for not looking into it back in 2012 when it was 12USD, as compared to 629USD today [/align]

Man can you imagine that you did know about it 2012 but didn't buy more? Could have been financially independent by now.

Or selling in October last year and then see it go up 5-10x? Or a month ago at $340?

But of course it's pretty sweet.

I remember reading about BTC before it's launch. At the time I told myself "Hah, don't invest in it. It's some geek shit that will fail in a few years!"

Certainly, in recent years, there has been a large amount of appreciation in bitcoin prices, yet there seems to remains considerable potential for additional BTC price appreciation in the next coming years.

I don't see any real value in contemplating what would have happened if I had invested in bitcoin 1 or 2 years earlier. There are other crypto currencies, as well that have a considerable potential for upside growth, yet bitcion still remains to be a decent bet for upside growth in the coming years.

What other coins you like. I got into volt a while back that went nowhere. Dogecoin was hot for a minute havn't checked it in a while though. I think most people dont understand pros and cons of the different coins from a tech perspective of how quickly can transactions be processed, how safe is it, etc so I think it mainly cones down to marketing or how cool the name or logo is for a coin. When washington and colorado legalized pot POT coins were hot but I think has fallen off. Bitcoin is the most widely accepted and household name I think thats the "safest" play unless you just wana swingtrade other coins or gamble and treat them like a roullette wheel and hope one hits. I signed up for cryptorush to trade the smaller lesser known coins and then all that bs happenned. Site has a much better layout and do acknowledge I have a balance but cant do anything or login or trade or cashout

(07-08-2014 10:15 AM)jamaicabound Wrote:  What other coins you like. I got into volt a while back that went nowhere. Dogecoin was hot for a minute havn't checked it in a while though. I think most people dont understand pros and cons of the different coins from a tech perspective of how quickly can transactions be processed, how safe is it, etc so I think it mainly cones down to marketing or how cool the name or logo is for a coin. When washington and colorado legalized pot POT coins were hot but I think has fallen off. Bitcoin is the most widely accepted and household name I think thats the "safest" play unless you just wana swingtrade other coins or gamble and treat them like a roullette wheel and hope one hits. I signed up for cryptorush to trade the smaller lesser known coins and then all that bs happenned. Site has a much better layout and do acknowledge I have a balance but cant do anything or login or trade or cashout

alt coins are 99.9% pump and dump scam.

(07-09-2014 02:27 PM)brg444 Wrote:  

(07-08-2014 10:15 AM)jamaicabound Wrote:  What other coins you like. I got into volt a while back that went nowhere. Dogecoin was hot for a minute havn't checked it in a while though. I think most people dont understand pros and cons of the different coins from a tech perspective of how quickly can transactions be processed, how safe is it, etc so I think it mainly cones down to marketing or how cool the name or logo is for a coin. When washington and colorado legalized pot POT coins were hot but I think has fallen off. Bitcoin is the most widely accepted and household name I think thats the "safest" play unless you just wana swingtrade other coins or gamble and treat them like a roullette wheel and hope one hits. I signed up for cryptorush to trade the smaller lesser known coins and then all that bs happenned. Site has a much better layout and do acknowledge I have a balance but cant do anything or login or trade or cashout

alt coins are 99.9% pump and dump scam.

I would ballpark estimate alt coins to be more than 90% pump and dump scam, and the remaining 9% are likely NOT going to be able to accomplish any kind of meaningful networking effect to be better investments than bitcoin and the remaining .9% may have a chance to complete with bitcoin, but will likely fail, and there may be .1% or less of them that could in the long term give bitcoin a run for its money.

In any event, there may be ways to make money on the various alt coins, but for long term thinking and some additional security in one's investment, bicoin is the place to be.

I don't doubt that there will be a large number of people get rich or poor with some of the other various alternative crypto currencies; however, I, personally, do NOT have time to track the details of such trading and/or timing.

Take this for what it's worth.

The older big wheelers in trading are starting to grasp this. I was told only us "small time" guys are messing with it

The linked graph has some very good depictions of bitcoin price history, including providing some abilities to compare previous bubbles from 2011 to present.

https://bitcointalk.org/index.php?topic=...msg7893298

DELL ACCEPTS BITCOIN NOW.

I asked my personal fortuneteller and she said that I will be prosperous very soon.

This dude tried to sell me Bitcoin MDMA at a party last night. I couldn't handle my lulz.

(07-19-2014 03:10 AM)strengthstudent Wrote:  DELL ACCEPTS BITCOIN NOW.

I asked my personal fortuneteller and she said that I will be prosperous very soon.

Holy fuck, this is HUGE! Why isn´t the price skyrocketing?

Having a conversation with myself here, but hope that´s alright^^

Huge companies accepting bitcoin actually puts a sell pressure on the bitcoins(unless Dell is actually holding on to the bit coins), so even if its is a step to mass adoption, in a way it also might not affect the price so much.

The one thing affecting the price, is hype, and the belief its a good store of value.