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Posted: 11/13/2013 3:27:59 AM EDT
Increase in demand from the Chinese over the last two weeks has forced the price of Bitcoin to record-breaking highs. It rose to around $390 a few days ago just before a short sell-off, which forced the price down to the mid-300's. Less than two days later, the price has surged again, and it now threatens to break the $400 barrier which was considered outlandish not even a year ago. The total market cap currently sits around $4.36 billion dollars, and Bitcoin's popularity appears to be increasing.
Now people are starting to wonder when the increased demand will subside. Is this a temporary upswing in demand or will the price remain at this new high for the foreseeable future? With a country of approximately 1.5 billion people, the future is uncertain. ETA: For the new comers, here are some easy to use websites for up-to-date Bitcoin information! This is my favorite. I don't know why.. it's just slick, and the server is located in Ireland, I believe. BitcoinTicker: http://bitcointicker.co/ This is sort of like a sister site to the one above. It is not quite as crisp, but still really good. Bitcoinity: http://bitcoinity.org/markets This is yet another one. The info here is really good also. Bitcoin.clarkmoody: http://bitcoin.clarkmoody.com/ Last but not least, another great price/volume comparison: Data.bitcoinity: http://data.bitcoinity.org/#caaaaadgaa This is probably the most powerful one of them all, but it's a paid site. They actually want some return for their efforts.  Very good charting and graphs. Bitcoin-analytics: http://bitcoin-analytics.com/ This is neat to see the latest market cap with each price change. It's good to follow the similarities between BTC and LTC. Coinmarketcap: http://coinmarketcap.com/ This one is, of course, one of the originals and the "official" source of exchange comparisons. It's like the Google of the bitcoin world. Bitcoincharts: http://bitcoincharts.com/markets/ Yet another good site to keep tabs on major movements in price and volume between different exchanges. It is a great companion to Bitcoincharts. Bitcoinwatch: http://bitcoinwatch.com/ This is just a fun little thing I keep loaded in a tab sometimes to just see what's happening. It's a novelty but still fun to watch occasionally. Fiatleak: http://fiatleak.com/ |
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Posted: 11/13/2013 3:33:11 AM EDT
[#1]
Is bitcoin being used for commerce on any significant level, or is it pure speculation at this point?
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Posted: 11/13/2013 3:35:09 AM EDT
[#2]
Quote HistoryQuoted:
Is bitcoin being used for commerce on any significant level, or is it pure speculation at this point? For untraceable commerce And not by privacy advocates 
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Posted: 11/13/2013 3:37:21 AM EDT
[#3]
parabolic moves always collapse
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Posted: 11/13/2013 3:48:31 AM EDT
[#4]
You can buy land in China with bitcoin.
Bitcoin in concept is good, but be wary of the internet kill switch or hackers who can access a purse. |
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Posted: 11/13/2013 3:50:31 AM EDT
[#5]
Quote HistoryQuoted: Is bitcoin being used for commerce on any significant level, or is it pure speculation at this point? From domain names, web hosting, and VPNs to dentists, doctors, and other professionals. It appears the current demand is being pushed by Baidu, the Chinese version of Google, which recently allowed its members to pay for things online with btc. Sites like Wordpress and even OkCupid are now accepting it. Here's a list of businesses accepting bitcoin: https://en.bitcoin.it/wiki/Trade An NPR article which was published yesterday: http://www.npr.org/blogs/thesalt/2013/11/08/243970494/have-bitcoin-to-burn-next-stop-could-be-the-farm |
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Posted: 11/13/2013 3:50:58 AM EDT
[#6]
lol
still be valued based upon the USD 
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Posted: 11/13/2013 3:52:51 AM EDT
[#7]
 |
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Posted: 11/13/2013 4:19:18 AM EDT
[#8]
Quote HistoryI always enjoy watching the nay-sayers continue their bleating as the market passes them by. |
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Posted: 11/13/2013 4:20:28 AM EDT
[#9]
Quote HistoryQuoted: I always enjoy watching the nay-sayers continue their bleating as the market passes them by. Quote HistoryQuoted: I always enjoy watching the nay-sayers continue their bleating as the market passes them by. ... Oh you're publicly mistaken, my portfolio is doing just fine Thank you  |
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Posted: 11/13/2013 5:35:12 AM EDT
[#10]
God damn if you knew when to buy and sell this past year you could have made a killing
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Posted: 11/13/2013 5:42:02 AM EDT
[#11]
In before the haters...
too late.  |
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Posted: 11/13/2013 5:42:33 AM EDT
[#12]
How do you pay for something in a face to face transaction?
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Posted: 11/13/2013 5:43:41 AM EDT
[#13]
Quote HistoryQuoted:
lol still be valued based upon the USD Trade in rmb is getting close to surpassing use. |
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Posted: 11/13/2013 5:44:43 AM EDT
[#14]
Waiting for .gov to shut it down and call it an illegal currency.
Posted Via AR15.Com Mobile |
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Posted: 11/13/2013 5:46:06 AM EDT
[#15]
Quote HistoryQuoted: How do you pay for something in a face to face transaction? |
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Posted: 11/13/2013 5:47:59 AM EDT
[#16]
So where does one even buy bitcoin/ watch its history?
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Posted: 11/13/2013 5:48:24 AM EDT
[#17]
Quote HistoryQuoted:
Waiting for .gov to shut it down and call it an illegal currency. Posted Via AR15.Com Mobile Not possible.. |
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Posted: 11/13/2013 5:49:11 AM EDT
[#18]
Bitcoin is not a viable SHTF currency.
For that I choose brass and lead.
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Posted: 11/13/2013 5:49:11 AM EDT
[#19]
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Posted: 11/13/2013 6:01:11 AM EDT
[#20]
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Posted: 11/13/2013 6:23:10 AM EDT
[#21]
Quote HistoryQuoted: So where does one even buy bitcoin/ watch its history? This is the main site, but there are others: http://bitcoincharts.com/markets/ It's up to $423 / btc now, lol! China is pushing it even higher. I wonder if it will hit $500 by the end of the month. |
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Posted: 11/13/2013 6:28:17 AM EDT
[#22]
I lost a fuck ton not too long ago.
I'm still ahead though... As far is it being all the Chinese... |
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Posted: 11/13/2013 6:41:08 AM EDT
[#23]
I pulled my coins at around $200 after campbx dropped dwolla. Since I paid 5USD for them over a year ago, I'm not complaining. It's way too volatile for me to invest any serious money in it, but I love the concept.
Seems like a great currency to use for the EE. |
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Posted: 11/13/2013 6:41:47 AM EDT
[#24]
Quote HistoryQuoted:
How do you pay for something in a face to face transaction? Smartphone |
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Posted: 11/13/2013 6:44:21 AM EDT
[#25]
Quote HistoryQuoted:
Bitcoin is akin to buying the silver dollars from a sovereign citizen - when you know it is made of Nickel Quote HistoryQuoted:
Actually, no, it's nothing like that at all. |
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Posted: 11/13/2013 6:45:55 AM EDT
[#26]
Quote HistoryQuoted:
I pulled my coins at around $200 after campbx dropped dwolla. Since I paid 5USD for them over a year ago, I'm not complaining. It's way too volatile for me to invest any serious money in it, but I love the concept. Seems like a great currency to use for the EE. Hindsight being what it is...I could be a retired millionaire right now with a simple $200 investment in the early days of bitcoin. 
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Posted: 11/13/2013 7:07:39 AM EDT
[#27]
Quote HistoryQuoted:
lol still be valued based upon the USD Why does that warrant the smug face from you? |
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Posted: 11/13/2013 8:43:53 AM EDT
[#28]
Quote HistoryQuoted:
Smartphone Quote HistoryQuoted:
Quoted:
How do you pay for something in a face to face transaction? Smartphone Yeah so when I wanna get a few gallons of gas and smokes all I have to do is convince the guy behind the counter that this made up money that I want to transfer directly into his account is worth something, even though it doesn't exist anywhere except on paper. |
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Posted: 11/13/2013 8:44:53 AM EDT
[#29]
( However, new Bitcoins are created at an ever-decreasing rate) = ponzi
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Posted: 11/13/2013 8:46:48 AM EDT
[#30]
Quote HistoryQuoted:
Yeah so when I wanna get a few gallons of gas and smokes all I have to do is convince the guy behind the counter that this made up money that I want to transfer directly into his account is worth something, even though it doesn't exist anywhere except on paper. Quote HistoryQuoted:
Quoted:
Quoted:
How do you pay for something in a face to face transaction? Smartphone Yeah so when I wanna get a few gallons of gas and smokes all I have to do is convince the guy behind the counter that this made up money that I want to transfer directly into his account is worth something, even though it doesn't exist anywhere except on paper. Not quite. Some places accept it. Some places provide ATM services to turn Bitcoins into cash. Some people who already have a Bitcoin wallet will allow you to transfer on the spot with a smart phone. It's in its infancy. Give it a minute. All technology takes *some* time to become full adopted. |
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Posted: 11/13/2013 8:47:59 AM EDT
[#31]
Quote HistoryQuoted:
( However, new Bitcoins are created at an ever-decreasing rate) = ponzi Words have meaning. Bitcoins aren't a ponzi scheme since there is no requirement for new players to come on board in order to pay existing players. |
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Posted: 11/13/2013 8:49:05 AM EDT
[#32]
wow lots of Herp and Derp in this thread, Par the course for arfcom..
it was 417 a bit a go on Gox. But trying to get your cash out of Gox can be frustrating. |
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Posted: 11/13/2013 8:51:36 AM EDT
[#33]
Quote HistoryQuoted:
Words have meaning. Bitcoins aren't a ponzi scheme since there is no requirement for new players to come on board in order to pay existing players. Quote HistoryQuoted:
Quoted:
( However, new Bitcoins are created at an ever-decreasing rate) = ponzi Words have meaning. Bitcoins aren't a ponzi scheme since there is no requirement for new players to come on board in order to pay existing players. also difficulty changes with the number of miners. Less miners easier and dropping difficulty. the system is setup to finish the last coin in 2140. the adjusting difficulty is to keep it ending in 2140 and not sooner. |
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Posted: 11/13/2013 8:51:40 AM EDT
[#34]
Quote HistoryQuoted:
I always enjoy watching the nay-sayers continue their bleating as the market passes them by. Quote HistoryQuoted:
I always enjoy watching the nay-sayers continue their bleating as the market passes them by. speculators get paid for taking risks you're getting paid, then you're taking a risk anything that's a sure thing won't pay out big this is built in to the whole concept of speculating: you have to buy something when most people think it's shit and sell it when most people think it's great you don't have any penetrating insight as to what is going to happen in the future any more than anyone else does so stop congratulating yourself, you're just spinning the roulette wheel some people love taking a risk, some people want to spread their money over 10,000 stocks and bonds in index funds end of story |
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Posted: 11/13/2013 8:52:52 AM EDT
[#35]
What keeps someone from making their own bit coins?
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Posted: 11/13/2013 8:54:04 AM EDT
[#36]
Quote HistoryQuoted:
speculators get paid for taking risks you're getting paid, then you're taking a risk anything that's a sure thing won't pay out big this is built in to the whole concept of speculating: you have to buy something when most people think it's shit and sell it when most people think it's great you don't have any penetrating insight as to what is going to happen in the future any more than anyone else does so stop congratulating yourself, you're just spinning the roulette wheel some people love taking a risk, some people want to spread their money over 10,000 stocks and bonds in index funds end of story Quote HistoryQuoted:
Quoted:
I always enjoy watching the nay-sayers continue their bleating as the market passes them by. speculators get paid for taking risks you're getting paid, then you're taking a risk anything that's a sure thing won't pay out big this is built in to the whole concept of speculating: you have to buy something when most people think it's shit and sell it when most people think it's great you don't have any penetrating insight as to what is going to happen in the future any more than anyone else does so stop congratulating yourself, you're just spinning the roulette wheel some people love taking a risk, some people want to spread their money over 10,000 stocks and bonds in index funds end of story My comment was aimed at people who aren't in this market, know nothing, really, about it and are somehow convinced it's experiencing a "bubble." End of story. |
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Posted: 11/13/2013 8:55:41 AM EDT
[#37]
Quote HistoryQuoted:
What keeps someone from making their own bit coins? Goggle it.. Its a great read. and probably over the heads of many on here. |
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Posted: 11/13/2013 8:57:24 AM EDT
[#38]
How do you short it?
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Posted: 11/13/2013 8:59:41 AM EDT
[#39]
every single person in the stock market or buying gold or whatever pretends that they have this powerful x-ray vision that sees thru the veils of the time and space continuum and they combine that with great wisdom of how all world markets operate but in truth everyone is spinning a roulette wheel this is a fact there are guys with degrees in "good will hunting" type math who are running computers and they cannot predict anything if somebody who is 10x smarter than you or I will ever live to be is just gambling on bitcoin, then so are you AKA "The efficient market theory" |
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Posted: 11/13/2013 9:02:32 AM EDT
[#40]
Quote HistoryQuoted:
My comment was aimed at people who aren't in this market, know nothing, really, about it and are somehow convinced it's experiencing a "bubble." End of story. Quote HistoryQuoted:
Quoted:
Quoted:
I always enjoy watching the nay-sayers continue their bleating as the market passes them by. speculators get paid for taking risks some people love taking a risk, some people want to spread their money over 10,000 stocks and bonds in index funds end of story My comment was aimed at people who aren't in this market, know nothing, really, about it and are somehow convinced it's experiencing a "bubble." End of story. Is bitcoin price going up because of speculation or because bitcoin invented a powerful new vaccine? it's not that hard to figure out what a bubble looks like End of rich vibrant tale of heroism and redemption, see it with someone you love. |
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Posted: 11/13/2013 9:03:23 AM EDT
[#41]
So who all is still mining these? It's getting cold again so started the computer mining, figure it is supplemental heat so not a total waste.
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Posted: 11/13/2013 9:12:10 AM EDT
[#42]
You can buy/sell BTC with Coinbase. I have some that I bought when it was around $100. I wish I had bought more
. I may buy some more if it dips again soon.
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Posted: 11/13/2013 9:19:57 AM EDT
[#43]
Quote HistoryQuoted:
Is bitcoin price going up because of speculation or because bitcoin invented a powerful new vaccine? it's not that hard to figure out what a bubble looks like End of rich vibrant tale of heroism and redemption, see it with someone you love. Quote HistoryQuoted:
Quoted:
Quoted:
Quoted:
I always enjoy watching the nay-sayers continue their bleating as the market passes them by. speculators get paid for taking risks some people love taking a risk, some people want to spread their money over 10,000 stocks and bonds in index funds end of story My comment was aimed at people who aren't in this market, know nothing, really, about it and are somehow convinced it's experiencing a "bubble." End of story. Is bitcoin price going up because of speculation or because bitcoin invented a powerful new vaccine? it's not that hard to figure out what a bubble looks like End of rich vibrant tale of heroism and redemption, see it with someone you love. well if you would for once, do some research instead of spouting off at the ass.. you would find out that China is causing the run up in price. they are using it as a way to get funds out of the country to finance business located outside the China mainland. the Chinese have a cap on total $$ that they can send outside the country. BTC is a way to get past the limit and get their funds moving in overseas business investments. I know facts are hard for you to comprehend at times being a Pro troll and all. |
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Posted: 11/13/2013 9:21:55 AM EDT
[#44]
Quote HistoryQuoted: Not quite. Some places accept it. Some places provide ATM services to turn Bitcoins into cash. Some people who already have a Bitcoin wallet will allow you to transfer on the spot with a smart phone. It's in its infancy. Give it a minute. All technology takes *some* time to become full adopted. Quote HistoryQuoted: Quoted: Yeah so when I wanna get a few gallons of gas and smokes all I have to do is convince the guy behind the counter that this made up money that I want to transfer directly into his account is worth something, even though it doesn't exist anywhere except on paper. Not quite. Some places accept it. Some places provide ATM services to turn Bitcoins into cash. Some people who already have a Bitcoin wallet will allow you to transfer on the spot with a smart phone. It's in its infancy. Give it a minute. All technology takes *some* time to become full adopted. Exactly. Right now, bitcoin is at the point in time where Microsoft was when it first released DOS and was working on Windows 3.1. Give it some time. |
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Posted: 11/13/2013 9:23:05 AM EDT
[#45]
Quote HistoryQuoted: Words have meaning. Bitcoins aren't a ponzi scheme since there is no requirement for new players to come on board in order to pay existing players. Quote HistoryQuoted: Quoted: ( However, new Bitcoins are created at an ever-decreasing rate) = ponzi Words have meaning. Bitcoins aren't a ponzi scheme since there is no requirement for new players to come on board in order to pay existing players. What's even more perplexing is how a currency with open-source code can be a ponzi scheme? |
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Posted: 11/13/2013 9:26:40 AM EDT
[#46]
It's not that Bitcoin is rising, it's that the dollar is plunging.
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Posted: 11/13/2013 9:34:14 AM EDT
[#47]
Quote HistoryQuoted:
It's not that Bitcoin is rising, it's that the dollar is plunging. It's both, actually. |
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Posted: 11/13/2013 9:35:45 AM EDT
[#48]
Quote HistoryQuoted: It's not that Bitcoin is rising, it's that the dollar is plunging. $427! It has gone up $27 in 6 hours What does that say for our currency? |
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Posted: 11/13/2013 9:36:31 AM EDT
[#49]
Quote HistoryQuoted:
$427! It has gone up $27 in 6 hours What does that say for our currency?
Quote HistoryQuoted:
Quoted:
It's not that Bitcoin is rising, it's that the dollar is plunging. $427! It has gone up $27 in 6 hours What does that say for our currency?
more like china is going nuts! |
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Posted: 11/13/2013 9:36:50 AM EDT
[#50]
Quote HistoryQuoted:
well if you would for once, do some research instead of spouting off at the ass.. you would find out that China is causing the run up in price. they are using it as a way to get funds out of the country to finance business located outside the China mainland. the Chinese have a cap on total $$ that they can send outside the country. BTC is a way to get past the limit and get their funds moving in overseas business investments. I know facts are hard for you to comprehend at times being a Pro troll and all. Quote HistoryQuoted:
Quoted:
Is bitcoin price going up because of speculation or because bitcoin invented a powerful new vaccine? it's not that hard to figure out what a bubble looks like End of rich vibrant tale of heroism and redemption, see it with someone you love. well if you would for once, do some research instead of spouting off at the ass.. you would find out that China is causing the run up in price. they are using it as a way to get funds out of the country to finance business located outside the China mainland. the Chinese have a cap on total $$ that they can send outside the country. BTC is a way to get past the limit and get their funds moving in overseas business investments. I know facts are hard for you to comprehend at times being a Pro troll and all. Did you see who you were relpying to? I find it incredible how many people will take the time to form an opinion and then take the extra time and effort to share that opinion with others all the while having never taken a moment to find anything of substance to base the opinion on. Happens quite frequently. |
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