What the.....??? Bitcoins are trading over $70 today???

[KCIndy]

Are my eyes going bad, or are Bitcoins trading at $73 right now on MtGox.com??

Show chart
Last price:$73.10000
High:$74.90000
Low:$62.50130
Volume:97974 BTC
Weighted Avg:$67.13703

Damn!!!

And does anyone want to join me in a massive 'group kick' for not buying more when the little suckers were selling for around three bucks each?

 

[ronpaulfollower999]

Hazek tried to warn us. I knew about Bitcoin back in 2011, but was turned off by the all the events that happened that summer. It's not $3, but I'm glad I got in at $30. Sometimes I'm slow with these things.

Now that I've been using Bitcoins for a little over a month, I'm absolutely in love. The higher prices are nice, but I also miss the days (known as last month, LOL) where I could buy 2 BTC for the price of 1 today.

A little OT: if you use Bitcoin-QT, check what version your using. Because of the fork (which, amazingly, hardly caused any significant price change, which is a good thing for the currency), it is recommended that you upgrade to version 0.8.1 by May 15.

 

[Seraphim]

It will race above 100$ IMHO.

Europeans are buying Bitcoins en masse right now. Ditto for Precious Metals.

 

[Petar]

motherfucker, I was just starting to do research to figure out how to buy/use these things...

 

[sailingaway]

The fed just says they have to follow money laundering regulations. Which, while it means they aren't private as they were expected to be, also gives them more credibility.

 

[ronpaulfollower999]

The fed just says they have to follow money laundering regulations. Which, while it means they aren't private as they were expected to be, also gives them more credibility.

Kind of a catch-22, but I think it's a green light for more US based exchanges.

 

[hazek]

Hazek tried to warn us.

Thanks. I hope many listened.

 

[Romulus]

The fed just says they have to follow money laundering regulations. Which, while it means they aren't private as they were expected to be, also gives them more credibility.

I thought that was the big draw, privacy.... so transactions are not private?

I too am kicking myself, but still feel like its a go. It will continue to grow IMO.

 

[psi2941]

how do i short bit coins?

 

[Seraphim]

Buy dollars.

how do i short bit coins?

 

[Seraphim]

^^^^ ;-)

 

[Romulus]

It's seems like you cant even buy bitcoins right now. Bitinstant is down.

 

[american.swan]

I'm in Korea and unsure how to get bitcoins. I'm still skeptical of the things, but you are acting like they're going mainstream.

How's the twitter traffic for bitcoin? Is this really exploding?

 

[ronpaulfollower999]

how do i short bit coins?

You're better off donating your money to charity.

 

[hazek]

how do i short bit coins?

http://bitfinex.com seems to be one way, however although I haven't heard anything bad about the site I can't vouch for them either, so be cautious when trusting your fiat to them.

 

[cheapseats]

I am convinced that peer-to-peer lending is key to whittling the Banking Behemoth down to a manageable roar. That said, if online transactions can be tracked, they can also be INTERFERED WITH, no? Whether by taxation, regulation, interruption, prohibition, whatever.

News for bitcoins

Sorry, Bitcoin Isn't a 'Currency'
Bloomberg ‎- by Mark Gimein ‎- 49 minutes ago
Bitcoin's missing one essential aspect of money: it's not useful for buying anything. Its rise as an instrument for financial speculation underlines ...

How Washington Plans to Regulate Your Bitcoins
National Journal‎ - by Brian Fung‎ - 2 hours ago

Bitcoin Sees Broad Global Adoption of its Controversial Virtual Currency
brandchannel.com‎ - 6 hours ago

http://www.google.com/search?client=safari&rls=en&q=bitcoins&ie=UTF-8&oe=UTF-8

Note the TIMES of the Google entries.

Six hours ago, BITCOIN SEES BROAD GLOBAL ADOPTION.

Four hours ago, GOVERNMENT PLANS TO REGULATE BITCOINS.

Forty-nine minutes ago, BLOOMBERG: BITCOINS AREN'T CURRENCY.

It kinda mirrors:

E-CIGARETTES ARE CHEAPER, HEALTHIER & WELCOMER...AND THEY WORK!! PEOPLE ARE QUITTING NICOTINE!!

FDA DETERMINES THAT CERTAIN ELECTRONIC CIGARETTES ARE UNAPPROVED DRUG/DEVICE COMBINATION.

BLOOMBERG: ELECTRONIC CIGARETTES TO BE REGULATED AS TOBACCO PRODUCTS.

 

[well_met_sir]

I thought that was the big draw, privacy.... so transactions are not private?

Quite the opposite, all transactions are public. However just because they are public doesn't mean that people know who you are.

Let's say that you use localbitcoins.com to meet a person on the street. You hand him cash and he transfers bitcoins to you. The transaction is publicly available to everyone. However they see it as coins going from 1sdf9g797945n4t4 to 1sdf9gh7fgihk4t5. They don't who you are. Only the person that sold the coins to you knows who you are, and he only knows what you told him. Now let's say that you use these coins to buy a stolen painting worth a million dollars. The transaction is available online, but again it doesn't say what you bought with your money or who you are.

Now let's say that you want to buy on MtGox and you wire money to it from your bank account. Now your coins will be traceable back to your bank account and thus back to your real identity.

So basically bitcoin is as anonymous as you make it.

There are also bitcoin mixing services which are basically money laundering. So using them is one way to break traceability. They are almost certainly illegal and will raise suspicion, so they probably aren't something that you would want to use unless you are planning a life of crime.

 

[Sentinelrv]

So they're now a little over $70 and most people still have never heard of bitcoins? I'm thinking about researching what this is all about. I've known about it, but never really took the time to understand what it is.

So if I got into this right now when it's still relatively unknown, just how big are people expecting this thing to get? I read somebody in another thread saying if it explodes, bitcoins could end up being worth hundreds of thousands if not millions each. Is this really possible? If so, I'm gonna figure this out in a hurry, lol.

 

[KCIndy]

how do i short bit coins?

I would be more comfortable shorting Federal Reserve Notes.

Remember all the fuss about the "sequester" and how the world was gonna end because the government had to cut $85 billion over the next couple of YEARS?

The Federal Reserve has been "buying" (translation: printing, i.e. inflating) dollars at the rate of $85 billion EVERY MONTH:

http://www.breitbart.com/Big-Govern...5-Billion-A-Month-Until-Unemployment-Hits-6-5

 

[itshappening]

I owned some when they were like 8$ in 2011 and they went up to $30 in the summer. i think I cashed out then and it crashed... oh well..

I remember the bitcoin online wallet (mybitcoin?) I was using to store them was hacked a week after I cashed out. I managed to get out in time. This is why I don't like it much because the online wallets can be hacked and if you save them on your computer your computer can crash.

So it's not that great for anything but short term use unless I suppose you put them on a USB stick and I can't be bothered with that.

The people who got in early must be laughing though as are MT GOX who levy a %, they were making like 50k a day when I last owned them as I was reading the forums and people were speculating about what they were making so I wonder what they're doing now.