Bitcoin / Bitcoins / Crypto Currency

Thanks Tommy, I now have 0.00002113 BTC.

in your fucking face government. You ain't the boss of me

Bitcoin Crashes After China Bans New Deposits; PBOC Gets DDOSed In Retaliation

http://www.zerohedge.com/news/2013-12-18/bitcoin-crashes-after-china-bans-new-btc-deposits-pboc-gets-ddosed-retaliation

You broke it you muppet

Brilliant

Sorry everyone. If you want to shift your BTCs quick, i'll take em off you at a knockdown price.

I agree with the Winklevoss twins that the value will hit $40k one day
http://thenextweb.com/insider/2013/12/15/winklevoss-twin-says-bitcoin-valuation-will-top-40k-plays-down-silk-road-closure/

but I think it will go lower in the short term

currently at $408

I found watching this very incitful:

Bitcoin Cryptocurrency Crash Course with Andreas Antonopoulos - Jefferson Club Dinner Meetup - YouTube

One of the points that I thought was most striking was the idea that BCs are just the first really successful itteration of cyrpto currancy. The more I think about it the more I think he's right. My long term bet is on BC not lasting. In which case while I'm still tempted to buy some on a punt, it will be 100% pure short term speculation.

http://static2.businessinsider.com/image/49b6a9d44b54372b008cbcba/remember-when-google-facebook-and-twitter-jumped-the-shark-we-do.jpg
http://www.destinyland.org/Fonzie%20celebrates%20after%20he%20jumped%20the%20shark%20on%20Happy%20Days.jpg

Someone I work with and some friends are starting a litecoin club.

If you're clubbing together I would have thought that BCs were the way to go, but they like the fact that they're cheaper (hovering around $13 today).

I bought litecoins at 8dollars a coin and sold at 39 dollars - having sold my bitcoins...all within 10 days

:)

Yeh. I thought I remember someone here doing that.

Nice move. You should write a book.

Someone I work with and some friends are starting a litecoin club.

If you're clubbing together I would have thought that BCs were the way to go, but they like the fact that they're cheaper (hovering around $13 today).

????

My friend has set up a dedicated litecoin rig at home

^^

"If you're clubbing together I would have thought that BCs were the way to go. The club prefer the idea of LCs because LCs are cheaper to buy. The idea being that there is more scope for growth."

Is this based on knowledge of the specifics of the currency or btc was small and now its big, LC is now small so therefore must get big?

Ive reached the maximum number of bitcoins that I'm willing to gamble on now. Now to sit back and wait while my Scottish hunting estate gets paid off.

^^I suspect the later.

Although one of the guys bought several £ks of BCs in Sept and works in IT. So I guess he has some knowledge.

I get that LC's give an easy entry point, but I don't really believe that that equates to "moar growth", just because they're cheaper.

^^

"If you're clubbing together I would have thought that BCs were the way to go. The club prefer the idea of LCs because LCs are cheaper to buy. The idea being that there is more scope for growth."

They are also easier to mine at the moment

^^I suspect the later.

Although one of the guys bought several £ks of BCs in Sept and works in IT. So I guess he has some knowledge.

I get that LC's give an easy entry point, but I don't really believe that that equates to "moar growth", just because they're cheaper.

my mate just emailed me:

"I recently started mining LiteCoins – they’re still in their infancy in comparison to BitCoins, they’re worth about £20 each at the moment and I’ve had a small Quadro running for a full week now and I’ve made 0.22503560999999986 of a LiteCoin which is worth £2 at the moment. Having just checked, the value of a LiteCoin is currently £8.90, that’s down A LOT since Friday! Gutted."

I haven't gone in yet. I may buy a bitcoin at £300. Obvs this will cause a massive crash. I reckon it's worth it to see the fallout.

The more I think about it the more I think he's right. My long term bet is on BC not lasting. In which case while I'm still tempted to buy some on a punt, it will be 100% pure short term speculation.

If your only interested in short term speculation I would recommend you take out a contract for difference CFD tracking the mtgov exchange price?

This allows you to benefit from the change in price without having to place large sums of money directly into the unregulated bitcoin world.

Even better as you don't believe in the technology you could Lay the price and win when it falls.

This brokers site is truely impressive and they give you a £20 signing on bonus - http://www.plus500.co.uk

Speculating in bitcoin over establish commodities such as oil, gas, gold seems highly riskly if you think it a flawed bubble.

But then you'd be better off posting in the 'investors' thread.

www.betfair.com

All you need

www.betfair.com

All you need

I've directly speculated in them too
https://www.google.co.uk/finance?q=LON%3ABET&ei=aLmxUoD0A8H3wAPsyQE

^^ already on it*

^^^ good point.

• via dodgy topcashback gambling site offers. Gamble on site and gamble on cashback. What can go wrong?
  

So you could bet one on side, and use the match to bet on the other side?

Found this sophisticated blog post supporting the bitcoin fearmongers an interesting read...
http://www.forbes.com/sites/jessecolombo/2013/12/19/bitcoin-may-be-following-this-classic-bubble-stages-chart/

Problem with bubbles is even if you identify one, you can never know how big they're gonna get before they pop.. so who know where on this graph we really are.

further Reading about bubbleeconomics is needed.
http://people.hofstra.edu/jean-paul_rodrigue/jpr_blogs.html

Capitulation, probably.

Ps - this is why I called the probable stabilised price as $250 on the prior page, as that would constitute a reversion to the mean.

Bitcoins are so 21st century. It'll be all about Elmonits in the proper future.

#spacemaster