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NN

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New Internet Currency, Bitcoin. Looks good.

23-Apr-11 06:08

http://www.bitcoin.org/

This is an exciting development. It means you can go and buy bitcoins at one of the many bitcoin exchanges and then use them to buy premium here or at many other sites on the net!

If you are an investor - it's worth looking into as well. The currency has gone up like 30% in the last month or so, as it is yet to stabilize.

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Renaldo_Moon

23-Apr-11 06:20

I'm looking at investing in the US $ for when the Aus $ tanks against it again

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NN

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23-Apr-11 06:25

Renaldo_Moon said: I'm looking at investing in the US $ for when the Aus $ tanks against it again

Bitcoin against USD has gone up over 30% in 1 month!

http://bitcoincharts.com/markets/

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walter67

23-Apr-11 07:20

Umm ... NN ... are you promoting another site ...from this site ???? tsk tsk

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DanajustDana

23-Apr-11 17:16

Bitcoin against USD has gone up over 30% in 1 month!

This is true, I can now do 30% more perving.

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masterstoy91

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23-Apr-11 17:38

Am mineing as I type this, Will gladly use them here when I get them

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Josie Dirt

23-Apr-11 17:47

I ain't going to do it but i'm all for you getting more prem members on the site.

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NN

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24-Apr-11 03:12

I now have 20 Bitcoins..

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Turricula

24-Apr-11 03:16

I found a slot on the side of my computer. Is that where the bitcoins go?

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masterstoy91

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4-May-11 18:33

So again is this something that is going to be done here??? and if so what is the code to give NN my coins??? Please let us know ASAP...

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NN

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5-Mar-13 11:43

man o Man - who took my investment advice back then!! Bitcoins are worth $40 each now, at the time this thread was started they were about $2 I seem to recall

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Wodja

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5-Mar-13 12:00

so your $40 investment is now worth $800?

I think my $40 is now worth $32.50

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alley52cat

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5-Mar-13 13:18

...but still no details if and when they might be used on this site ?

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NN

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5-Mar-13 14:00

alley52cat said:
...but still no details if and when they might be used on this site ?

Can use them now if you PM me - but yes we are working on a more formal integration..

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NN

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8-Nov-13 22:47

bump

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Raven2005

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8-Nov-13 23:38

This seems very alien to me in the UK

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NN

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26-Nov-13 20:45

$950 today!

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alley52cat

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27-Nov-13 08:08

I think I'll stick with MasterCard thanks all the same !

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Mr.FX

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27-Nov-13 14:45

*cough* ponzi scheme *cough* *cough*

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NN

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27-Nov-13 17:10

MrMrsFX said: *cough* ponzi scheme *cough* *cough*

Does it matter, if you bought in at $100 and it's $1,000 now? Just exit.

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Mr.FX

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27-Nov-13 23:24

NN said:

MrMrsFX said: *cough* ponzi scheme *cough* *cough*

Does it matter, if you bought in at $100 and it's $1,000 now? Just exit.

Befote I "exit"...

Explain the drop that happened in 2011, & how people shouldn't care?
" In 2011 the value of one Bitcoin rapidly rose from about $0.30 to $32, before falling back down to $2.00. "

Or explain secure it is if it's funds have been stolen several times?

Or how about the "Bitcoin-mining trojans" infecting Mac OS X?

Besides all that, it's just a matter of time until ALL governments learn how to tax it.

No thanks, there are other ways to make money off of investments.

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FilthyIdeas

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28-Nov-13 04:11

If the Bitcoin-USD exchange rate is going to be that volatile, then I wonder how to judge the price of a premium membership denominated in Bitcoin. Setting the price in dollars, but accepting the equivalent in Bitcoin, that would be a convenience. (Obviously it's good to accept Bitcoin if you think the value of Bitcoin is going to go up, but that's for people who think they can time the market. I am not one of them.)

For me the problem with Bitcoin is that it's not entirely anonymous. It's close, and there may be a disciplined way to use Bitcoin that doesn't reveal the spender's identity.

http://bitcoin.org/en/faq#is-bitcoin-anonymous

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Bendalong

28-Nov-13 04:34

i don't give a flyng fuck about the investment potetnial, the really exciting thing is a currency freed from corrupt government and corrupt banks.

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NN

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28-Nov-13 09:28

Bendalong said: i don't give a flyng fuck about the investment potetnial, the really exciting thing is a currency freed from corrupt government and corrupt banks.

and you are not alone, hence this is what is driving the price up.

Bitcoin is a real solution to transferring "monies" between parties. It thus has real value.

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NN

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28-Nov-13 09:37

MrMrsFX said:

NN said:

MrMrsFX said: *cough* ponzi scheme *cough* *cough*

Does it matter, if you bought in at $100 and it's $1,000 now? Just exit.

Befote I "exit"...

Explain the drop that happened in 2011, & how people shouldn't care?

this crash occurred because the exchange that performed 99% of the exchanges was hacked. There are now multiple exchanges, so the risk of this is spread between all of them.

" In 2011 the value of one Bitcoin rapidly rose from about $0.30 to $32, before falling back down to $2.00. "

completely irrelevant! it had a market cap of like $10,000,000 at the time not several hundred billion as a it does today. No one knew about it in 2011.

Or explain secure it is if it's funds have been stolen several times?

anything of value is always a target for theft

Or how about the "Bitcoin-mining trojans" infecting Mac OS X?

they don't just infect MacOS. Again, how many credit card scams are there?

Besides all that, it's just a matter of time until ALL governments learn how to tax it.

it is taxable now, just like any other investment.

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NN

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28-Nov-13 09:42

FilthyIdeas said: If the Bitcoin-USD exchange rate is going to be that volatile, then I wonder how to judge the price of a premium membership denominated in Bitcoin. Setting the price in dollars, but accepting the equivalent in Bitcoin, that would be a convenience. (Obviously it's good to accept Bitcoin if you think the value of Bitcoin is going to go up, but that's for people who think they can time the market. I am not one of them.)

the answer to this is you set the price in BTC at the market rate at the time of the transaction. A mild inconvenience, but one that with technology is easy to solve. All the exchanges have APIs to link to and obtain the current rate to the USD. The merchant simply offers a price "valid for the next hour" or similar.

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Raven2005

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28-Nov-13 12:30

If the value of something like BitCom can rocket, so it can fall with a vengence.
I'm sticking to my Dedit Card.

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Mr.FX

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28-Nov-13 15:01

Raven2005 said: If the value of something like BitCom can rocket, so it can fall with a vengence.
I'm sticking to my Dedit Card.

Same here, I'll take the fraud protection that I get already via fdic.

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Aristarchuss

more recent bitcoin news

5-Dec-13 15:34

MrMrsFX said:

Raven2005 said: If the value of something like BitCom can rocket, so it can fall with a vengence.
I'm sticking to my Dedit Card.

Same here, I'll take the fraud protection that I get already via fdic.

From this news article
Bitcoin holders are waking up to a bit of a shock this morning. The price of the virtual currency plummeted overnight on Mt. Gox from a high of $1,240 down to a low of $870 before recovering somewhat in recent hours.

The drop reflects more than normal volatility. On Thursday, China's central bank announced that it is banning financial institutions from using Bitcoin. Citing the risks posed by currency speculators and criminals, the People's Bank of China warned that Bitcoin could wind up hurting ordinary Chinese, though the government has yet to ban individuals from using them.

Financial analysts are welcoming the move. So is the CEO of a major Chinese Bitcoin exchange, BTC China, who told Bloomberg that he was "happy" to see Beijing take its first steps toward regulation.

In a statement, the People's Bank of China said that while Bitcoin doesn't currently pose a danger to the country's financial system, it is "highly concerned about Bitcoin trends."

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