Bitcoins

csm888

For you own sakes please be careful with alt coins, do lots of research and watch out. There are some huge bitcoin holders out there who are very experienced at trading. (I know of someone who has 500,000 litecoins) They will manipulate the market, pumping and crashing it, with massive quantities of coins. The weak will be relieved of their wealth. You must keep emotion out of your decisions.

csm888

citricsquid wrote: »

You absolutely need backups of your wallet and private keys to securely store bitcoins.

Paper Wallets, USB Stick Backups, buried in a fire proof box, engraved on a ring. Encrytped wallets, etc etc. There are many ways to look after your bitcoins. But it is YOU that is looking after them, not a 3rd party like a bank. You can't go running to any one if you lose them.

The guy who runs just-dice has the private keys to the investment fund. Its a simple 44 character string, but that single string contains £40million. Kidnapping, blackmail all become major issues if his anonymity is lost.

JeffEllis

grey_gym_sock wrote: »

if it is backed by something tangible, it can't be a digital currency.

Say before 1971 when all currencies around the world were backed by gold, if the technology was around back then there could have been credit cards and online banking digital currency that was backed by monetary precious metals.

cocodude

padington wrote: »

Anyone trust https://bittylicious.com or managed to get the damn thing to work ?

What issues did you have getting it to work? It's meant to be the easiest to use system around.

csm888

Bitcoin $1206 approaching Gold oz parity $1244

JeffEllis

csm888 wrote: »

Bitcoin $1206 approaching Gold oz parity $1244

that could be the time when smart bitcoiners sell and buy ounces of gold to store for the long term.

JeffEllis

falling now, maybe I was right in my last post it bounced off the price of an ounce of gold. Now its falling, will it go under $1000?

JohnRo

I don't think a running commentary of the btc price is going to serve much purpose, if it's accepted and adopted long term and becomes the go to currency, it'll go stratospheric and if not it'll probably burn out at some point. The big unknown is how well the competition will do, whether this is all just a short step to something much bigger and better and whether, as the price goes to ever higher levels, it opens the market up to cheaper alternatives and effectively caps itself.

I've resisted all temptation to speculate other than increasing the hashing power of my set up. Mining for profit is a fools game also but at least it provides some utility and interest. There's some resale value too I suppose for as long as people care to get involved. If it all comes to nothing then I'll have had some fun messing about with computers and hardware along the way.

I want btc or something like it to succeed long term but I think it's getting way ahead of itself on price at this stage, who am I to question an unrestricted global marketplace though.

sabretoothtigger

This site says they'll give 0.05 btc for signing up via their referral scheme. Didnt take me long, seems easy enough
https://probitcoin.in/index.php?refer=panthro

Satoshi

sabretoothtigger wrote: »

This site says they'll give 0.05 btc for signing up via their referral scheme. Didnt take me long, seems easy enough
https://probitcoin.in/index.php?refer=panthro

How does that work then Sabretooth? Is it a derivative of botcoin or something?