Deep Web/Bitcoin Mining

[Rsully70sev]

Yea you can buy stuff.

[decay]

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

would it help if there were local kiosks where you could turn them straight into USD?

http://money.cnn.com/2013/04/04/investing/bitcoin-atms/index.html

though the idea does beg a few questions on taxation, tracking, etc, i think it'll help adoption.

[Farbin Kaiber]

^Repost. See the linky in post #166 schnookums!

[decay]

By one minute. That's what I get for developing and organizing thoughts into a coherent post on r3v.

[GaryE30]

someone here sell me 1 BTC please. no more hoarding! :)

edit: my wallet is taking YEARS to sync with the network... freaking snail pace

[Farbin Kaiber]

By one minute. That's what I get for developing and organizing thoughts into a coherent post on r3v.

Eh, just post and edit it later... ;)

[tjts1]

edit: my wallet is taking YEARS to sync with the network... freaking snail pace

Try multibit. Its fast.

[Rsully70sev]

someone here sell me 1 BTC please. no more hoarding! :)

edit: my wallet is taking YEARS to sync with the network... freaking snail pace

Are you using Multibit? Mine use to take forever to snyc, I downloaded the latest update and it runs flawlessly now. I would man, but you wouldn't like my prices, I can't touch that 50. Once we get our rig running, I'd be happy to hook you up.

[GaryE30]

I just put in $500 and came out with 1.7864876 BTCs after BitInstant's fees. That puts the value at $268.68 as my buy-in price, with a current market value of $259.90. Guess I have to wait a little bit to break even.

Also, I'd be happy to buy some from you once you get your rig going. I don't have a good mining machine and I don't think I'll build one with the way my wife is currently viewing this situation right now lol :)

[nando]

Yea you can buy stuff.

So.. you can exchange it for dollars, which you can then use to pay bills and buy food. I get it now.

[Rsully70sev]

Fuck Gary, you were about 4 hours too early. They're almost touching 200 right now, then I expect them to stabilize. I just bought a shit ton of litecoins. MtGox is taking DDoS attacks left and right.

[GaryE30]

Yeah I see that lol. I'm watching everything drop. I'm sure I just lost about $200 haha.

Well thats why I only put $500 in. It is definitely a gamble, but I told myself I would try it out.

edit 1: however, everything just made a major jump back up. I'm on BTC-e and it was just at $169/btc and in seconds it is now at $220/btc WOW

edit 2: lol and now back down haha this is fun

[InuFaye]

This happens weekly. Just hold on and don't panic sell.

People Ddos mtgox to get the noobs to panic sell and get cheap BTC.

[GaryE30]

Yea I kept everything and didn't sell. This seems to be a regular occurrence for Mt Gox since they're the most popular trading site. It's just a game some people are playing to make some huge profits off the people who panic. They just kill the value when they all dump out at once.

Now the same people who caused the drop are buying in low and riding it back up again.

[decay]

Gary, I feel bad for you for just buying in. Had a feeling that was a bad idea.

Interesting day in the BTC world. Being presented in the media as a bubble popping; seems more to me like the kind of correction that happens when speculators lose interest or waffleswaffleswaffleswaffleswaffles out (seeing as it only rose above the value it corrected to 2 weeks ago).

The mining pool I use is being ddos'd - apparently their architecture involves a single point of failure. Wish I had the time to bring my new hardware online, because I was going to point the new card at triplemining (link posted previously), but I'm working at another startup. That's life.