Bitcoin / Bitcoins / Crypto Currency

cheers t.b. btw

$60 when I saw it two weeks ago, was going to wait until my paycheck, now a $100 each. bugger

Why not use blockchain info?
Sometimes they run out but they always restock within 12 hours.

what?!? over £100 per BC?!!

Has a huge chunk of this thread disappeared? I'm sure there was discussion about mining from VB among others, and I thought I'd made a comment asking is this not what currency bubbles usually look like?

There are two that could probably do with being merged

They are in different parts of the forum.

well, i'm rich..

avg price of btc now is 130$ with highs of 150$ and low of 120$

wasn't the first transaction 3 bit coins for a pizza

3 bucks a go !

https://bitcointalk.org/index.php?PHPSESSID=cn5uihtc2d46o1s1l6l0rekid2&topic=137.0
This was the only reason i kept away.
135usd now

I bought about 30BC last year. Totally wish I'd kept more of them now.
Only 4 left, and I'd totally forgotten about them as they were worth £12 at the time.

Spent a little while reading about bit coin all very interesting. But what's to stop them introducing more and pushing the price down?

probably all the profit the originators, now sitting on loads of these, have made !

It's a fixed limit currency. It's set by the amount of coins that can be mined.
There is nothing stopping them dividing them by say 10 though so there are 10 times more each worth a tenth of the value. But then if you have 10 worth £1 each you would end up with 100 worth 10p each. So you'd end up with the same amount.

... I think ...

And when you say mining them - how is that achieved? Is it just random amounts released at certain times?

It is achieved by solving complex mathematical equations using computing power. When an equation is solved a block is released. The equations become exponentially more problematic to solve.

It's pretty ingenious stuff and I would be lying if I claimed to fully understand it. But I get the gist of it

http://www.zerohedge.com/news/2013-04-04/money-ness-bitcoins

A consipray theorists website and their take on bit coins s

Now at $208. Still kicking myself for spending 26 in the last 3 months and not saving them.

Hindsight sucks massively in this case.
Now that they are almost impossible to buy in the UK without paying way above the market rate, I wonder what effect this will have on the price.
I expect it will drive it up even further for us Brits, as some of the prices at bitbargain reflect.

£160 unit price!!!!!! It's insane and depressing when I think that a year ago they were £6 :(
I could have bought 10k's worth and paid off most of my mortgage by now. if I had 10K lying around of course Oh well such is life.
I'm sure they will come back down when some of those kids manage to hack MtGox or one of the big exchanges again. Remember they were down to $0.01 at one point

I bought a couple last week as $140, I wanted in the previous week but I couldn't get hold of them when they were at $80. Blockchain stopped uk bank transfers a day or so before I got paid which screwed me.

This is the only way to get them at Market value I have found from the UK, it takes about 24hrs which irritating when you see the price going up. http://www.bitcoinuk.blogspot.co.uk/

Ah cheers for the info. Still a massive load of hassle though!

This is getting ridiculous $214 now. --> £220

It is achieved by solving complex mathematical equations using computing power. When an equation is solved a block is released. The equations become exponentially more problematic to solve.

It's pretty ingenious stuff and I would be lying if I claimed to fully understand it. But I get the gist of it

On this, does anyone know if it's possible for there to come a point where the value increases to the point that mining becomes cheaper?

ie - is there something in the design to prevent this. (I realise if mining < buying then the price will come down.)