reddit now accepts Bitcoin

Reddit's CEO is a software engineer by trade and has been following bitcoin since the beginning. So props to him for making this happen. Would be great to see some other companies follow suit.


I'm still waiting for a legit full featured bitcoin poker site to appear. Just need to reach the tipping point to drive investors in.
 
I wish Steam would start accepting them, but it looks like Gabe is making his own currency scheme to allow foreigners to buy games easier. His team understands the value in having your own currency. Too bad his will be endless inflation.

The best thing to do is reach out and send e-mails to companies for their support. We should really organize mailbombs.
 
Indy Vidual said:
Who knew about Bitcoins in 2009, and why didn't you tell all of us here to buy some?
Click to expand...

I didn't discover them until $6 spot in Summer 2012. They are worth $27 now. I wasn't nearly as lucky as those that got in for less than a penny spot. It pisses me off too but it will only go up from here IMO. It is a true market based entirely on supply and demand without any asshole banks paper shorting as is the case with silver. And as more get involved the price should just keep going up because of scarcity. And there will be plenty to go around because despite there only ever being 21 million in existence, it is divisible by 8 decimal places.

I highly would suggest getting involved. It is never too late IMO.

This guy is not computer savvy but he at least greatly understands the potential here...

 
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Paladin69 said:
I didn't discover them until $6 spot in Summer 2012. They are worth $27 now. I wasn't nearly as lucky as those that got in for less than a penny spot. It pisses me off too but it will only go up from here IMO.
Click to expand...



They were worth around $27 in 2011 as well, and then they crashed down to under $5. You didn't miss anything, it's been a gamble all along. No one knows what the future holds, but I bet you get another buying chance under $10 in the next couple years. The only people really making out here are the original miners from back in 2009/2010. They are doing great.
 
brandon said:
They were worth around $27 in 2011 as well, and then they crashed down to under $5. You didn't miss anything, it's been a gamble all along. No one knows what the future holds, but I bet you get another buying chance under $10 in the next couple years. The only people really making out here are the original miners from back in 2009/2010. They are doing great.
Click to expand...

The first rise to $31 was definitely based on speculation as it happened almost overnight when Silk Road was reported by Gawker.

Things have changed and if you look at a chart the rise has been much more steady.
 
Paladin69 said:
The first rise to $31 was definitely based on speculation as it happened almost overnight when Silk Road was reported by Gawker.

Things have changed and if you look at a chart the rise has been much more steady.
Click to expand...


Yea but any little thing could cause a sell off. If the US gov were to consider legislation banning them or started shutting down the payment processors that's all it would take for another crash. I think bitcoins are awesome but buying them now for any reason other than silk road type transactions is just a complete gamble.
 
*kicks self for not getting them at around $12 when I looked into it a while back
 
Indy Vidual said:
Who knew about Bitcoins in 2009, and why didn't you tell all of us here to buy some?
Click to expand...

I knew about Bitcoin since February 2011 and I told all of you:
http://www.ronpaulforums.com/showthread.php?281954-Can-you-make-an-animated-video&highlight=bitcoin
http://www.ronpaulforums.com/showth...Challenge-Governments-Banks&highlight=bitcoin


But check how many people listened to reason, logic and empirical evidence? Very few. Most rejected the idea of such a technology possibly being sound and they let their ego and preconceived notions take over their opinion. Well, serves them right to have missed the early days. But hey, it's still fairly early if you believe like I do that Bitcoin is going to be very big one day.
 
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brandon said:
Yea but any little thing could cause a sell off. If the US gov were to consider legislation banning them or started shutting down the payment processors that's all it would take for another crash. I think bitcoins are awesome but buying them now for any reason other than silk road type transactions is just a complete gamble.
Click to expand...

Bitcoin is worldwide, so whatever the US gov tries to do will have very little effect. Just as they have been very ineffective in stopping bit torrent technology.

Staying in US Dollars is also a complete gamble.
 
Paladin69 said:
Bitcoin is worldwide, so whatever the US gov tries to do will have very little effect. Just as they have been very ineffective in stopping bit torrent technology.

Staying in US Dollars is also a complete gamble.
Click to expand...

Nah, I do think if they actually did (although it's a legal nightmare to do so since doing so would make certain technologies illegal that major companies depend on..) but if they did this I suspect the exchange rate would drop quite a bit but at the same time I don't think such a draw back could possibly kill Bitcoin and eventually I do believe it would recover.

But like I said, making Bitcoin illegal is a legal night mare.
 
They will try and take out bitcoin with legislation aimed at financial institutions. At some point you need to turn your bitcoins into dollars and that's where the Fed's will nail you like they've nailed Iran.

The way round it would be for an overseas service to turn bitcoins into gold coins and then have them posted to you. That's pretty much full proof so putting bitcoin on the gold standard is the way to stop the inevitable laws.

Could be a good idea for a business, turn bitcoins into 1/10th oz gold coins and add a premium.
 
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itshappening said:
At some point you need to turn your bitcoins into dollars
Click to expand...

This is true less and less by the day since more and more merchants are coming online and you can do more and more of your spending needing nothing but bitcoins. There will come a day when you will be able to do all of it in bitcoins, I'm sure of it and then what are they going to do? Ban peer to peer TCP/IP communaction? Ban public key cryptography? What? it's a legal nightmare to ban Bitcoin, I assure you.

itshappening said:
The way round it would be for an overseas service to turn bitcoins into gold coins and then have them posted to you. That's pretty much full proof so putting bitcoin on the gold standard is the way to stop the inevitable laws.

Could be a good idea for a business, turn bitcoins into 1/10th oz gold coins and add a premium.
Click to expand...

Oh you mean something like this: http://www.coinabul.com/ :D
 
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Yeah I see what you mean Hazek but people are not going to keep thousands in bitcoin wallets. The future for bitcoin will be in quick, one off transactions and cashing out quickly. No one wants to keep thousands in bitcoins for a long period of time because you can get hacked/lose your key/forget password or whatever? I don't know.

I see they've already thought about the >gold then, yeah that's probably the best thing but they need to be outside the United States. See, if i was a bitcoin user/merchant I would cash my wallet out for half ounce gold coin (900 bucks) every time I had that much in it. Kind of like how you dont want to have thousands tied up in Paypal account because they can freeze your account at any time except with bitcoin you won't be able to link your bank account in the future when the Feds pass laws to try and deal with it.
 
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itshappening said:
No one wants to keep thousands in bitcoins for a long period of time
Click to expand...

If that were true the price wouldn't have gone from less than a penny to the $27 it is now. Supply is low and it is starting to shrink faster than what miners can produce since "halving day". Lots of people have thousands already because they recognize the vast potential here. People that buy things with btc are seeing deflation in prices almost daily. It's a digital gold standard. It is really a beautiful thing.

itshappening said:
except with bitcoin you won't be able to link your bank account in the future when the Feds pass laws to try and deal with it.
Click to expand...

You don't need a bank account. https://localbitcoins.com/

These services are only growing. Not shrinking. There isn't anything the feds can do to put a complete stop to it. It is global.

EDIT: If anyone is curious to get in, I would highly suggest starting with localbitcoins and bring your smartphone with you. There are many techie libertarians out there willing to help you.
 
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Wow...I'm shocked at the price for one bitcoin. I was thinking of getting into it last year, but the whole $30 to $5 thing scared me off. Of course, now that I'm getting into bitcoin, it'll drop back down the $5. :p

I'm getting into this one verrrryyy slowly. Spent the whole day trying to figure out how it works. A lot of the CPU lingo goes beyond my comprehension, but I get the basics now.
 
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