Deep Web/Bitcoin Mining

[tjts1]

I really hope traders start using at other exchanges besides MtGox. Its a weak point in the whole bitcoin economy.

[decay]

heh- the fact that they don't was advantageous while i was running an arbitrage bot. :]

[GaryE30]

Its getting so hard to buy-in more. BitInstant is falling behind on orders because they're processing thousands of exchanges as opposed to their usual hundreds. All other methods still take days and by the time the order goes through the BTC has risen so you're technically buying less than you anticipated paying for.

I tried localbitcoin and the person has yet to respond to my request. Unless someone knows a faster way for me to drop $1000 on this I may just have to watch it go nuts and sit it out :(

[tjts1]

Its getting so hard to buy-in more. BitInstant is falling behind on orders because they're processing thousands of exchanges as opposed to their usual hundreds. All other methods still take days and by the time the order goes through the BTC has risen so you're technically buying less than you anticipated paying for.

I tried localbitcoin and the person has yet to respond to my request. Unless someone knows a faster way for me to drop $1000 on this I may just have to watch it go nuts and sit it out :(

Theres a seller in this thread. Make it happen.

[GaryE30]

Another thing I was thinking of was what are people going to do if they're sitting on a ton of BTCs when this thing starts to drop. If its a rapid descent, is there anyway to quickly unload your BTCs or are you pretty much stuck with selling them off in small amounts.

Rsully, let me buy $1k worth of your supply :)

[gtdragon980]

Well, if I understand correctly, it will only drop when people start pulling out because it starts reaching really high peaks. When that happens, it will drop really bad, but will eventually go back up again when more people get into it again. This is just my opinion though, I'm no expert.

[nando]

https://news.fidelity.com/news/article.jhtml?guid=/FidelityNewsPage/pages/the-bitcoin-bubble&topic=investing

1000% gain in 5 months. Bitcoins are in a mania phase right now.

good luck guys..

[GaryE30]

Yeah, or it will drop when people stop selling them and hoarding them. But when you think about it, most people are JUST now hearing about this via media. I think that will increase the interest in it way more than it is already at.

Before, when it was $7/share it was just something that hardly anybody in the mainstream used, but now that its hitting a rush, its getting more publicity and skyrocketing.

[tjts1]

I always thought the whole idea of a bubble is that nobody realizes its a bubble until its too late, then it pops and in hindsight they call it a bubble. 99% of the media stories I've seen so far have been falling over themselves to call Bitcoin a bubble in ever more elaborate terms. The CNN story linked 2 posts up is one example.
The other thing people seem to miss is the fact that you don't have to cash out from bitcoin like a stock or bond. You can simply buy stuff with it. Anyway, I'll worry about the bitcoin bubble when they stop calling it a bubble. Thats when you know the last skeptics have been convinced and there are no new buyers left.

[gtdragon980]

Yeah but most investors don't share the same interests in mind. They are in it for the dollar amount, and will cash in when the price is right. They don't care about it being a currency that is usable.

[nando]

I always thought the whole idea of a bubble is that nobody realizes its a bubble until its too late, then it pops and in hindsight they call it a bubble. 99% of the media stories I've seen so far have been falling over themselves to call Bitcoin a bubble in ever more elaborate terms. The CNN story linked 2 posts up is one example.
The other thing people seem to miss is the fact that you don't have to cash out from bitcoin like a stock or bond. You can simply buy stuff with it. Anyway, I'll worry about the bitcoin bubble when they stop calling it a bubble. Thats when you know the last skeptics have been convinced and there are no new buyers left.

what are you going to buy with it? trinkets from an online store?

[cale]

Paper money? Pffft, that'll never catch on.

[tjts1]

what are you going to buy with it? trinkets from an online store?

Yeah thats right, trinkets.

http://www.coinabul.com/

https://www.bitcoinstore.com/

http://www.businessinsider.com/texas-family-we-sold-this-porsche-last-night-for-300-bitcoins-2013-4

http://www.searchtempest.com/results.php?location=90017&maxDist=400&region_us=1&search_string=bitcoin&keytype=adv&Region=na&cityselect=zip&page=0&showeb=1&category=8&subcat=sss&minAsk=min&maxAsk=max

[decay]

what are you going to buy with it? trinkets from an online store?

nando, i posted a site that refuted the "can't spend it" argument when you first made it weeks ago.

[nando]

right.. you can buy "stuff". But not stuff like, gas, food, mortgages, healthcare.. things that actually matter.