[NY Digital]

I sold early at $3.70

People were pumping it and are panic sell when it got to 5 in fear of a crash.

[BurnFirst]

BTC-E seems kind of shady to me, or at least not too professional. I wouldn't trust my money there personally.

[NY Digital]

(04-09-2013 04:28 PM)BurnFirst Wrote:  

BTC-E seems kind of shady to me, or at least not too professional. I wouldn't trust my money there personally.

cool story.

A lot of people are making money on there, including me.

[BurnFirst]

(04-09-2013 10:34 PM)NY Digital Wrote:  

(04-09-2013 04:28 PM)BurnFirst Wrote:  

BTC-E seems kind of shady to me, or at least not too professional. I wouldn't trust my money there personally.

cool story.

A lot of people are making money on there, including me.

Cool story. I hope it works out for you. Ever heard of mybitcoin?

In more interesting news, someone on /r/bitcoin/ tipped a random poster 20 BTC today. That's almost five grand USD at current rates.

[ElJefe]

Bitcoin has exploded, but exponential rates are probably done with. Nothing like 400% over a month.

So. LTC has also exploded. Still think it's worth buying?

If yes, where? My accounts are located in EUR.

[NY Digital]

bit coin 264... wow.

yeah I posted earlier how to get some. I'm not sure how euro USD thing works though. as they use USD

[Pete]

I'm fucking mad at myself.

I was gonna buy last week at $140 and now it's @ $250

[el mechanico]

I still don't even understand what a bitcoin is or isn't. What I really don't get is how they can go up 80dollars a day. It has to bust or does it? You can buy a laptop with one bitcoin?

I should have held them before getting LTC but I see more room for growth for some reason even though I have no clue why. I'm thinking that LTC is a streamlined version of Bitcoin?

None of this makes any sense to me but I'm glad to be here, can anyone give me the tl;dr explanation?

[Samseau]

This is a bubble and I'm guessing a bunch of hackers and PR men are manipulating the prices of bitcoins.

[ElJefe]

Well, it just dropped 20%. Did that when it USD140 as well.

The next few days will reveal how much of the value will be lost, but it's definitely dropping.

[ElJefe]

will drop below 200 soon

[el mechanico]

LOLOLOL This is hilarious

[pants]

wow!

Halfd my value in 6 hours, well well, knew it would happen

[theArbiter]

Damn... if only there were a convenient shorting mechanism in place...

[NY Digital]

lol wasn't able to sell LTC before the massive 50% drop and cash in on this craze... :/

But I am selling LTC on ebay for a pretty penny...

[el mechanico]

(04-10-2013 03:36 PM)NY Digital Wrote:  

lol wasn't able to sell LTC before the massive 50% drop and cash in on this craze... :/

But I am selling LTC on ebay for a pretty penny...

How do you transfer them?

[NY Digital]

(04-10-2013 03:42 PM)el mechanico Wrote:  

(04-10-2013 03:36 PM)NY Digital Wrote:  

lol wasn't able to sell LTC before the massive 50% drop and cash in on this craze... :/

But I am selling LTC on ebay for a pretty penny...

How do you transfer them?

http://www.litecoin.org/
Grab the client so you can have your own wallet.

Withdraw from BTC-E by sending it to your wallet address. Then you have BTC offline pretty much.

I'm also researching how to carry a paper that holds the litecoins in it. I think what you do is a QR code + some security password... not too sure.

[Rah]

Which payment processor you guys use to add USD to BTC-E? They all look russian and shady.

[NY Digital]

BTC-E is Russian and a little Shady

I posted a little while back on how to add money via BitInstant.

[Ovid]

So, I remembered that I had 3-4 bitcoins in my account on a ...hobby supplies... site from like a year ago, but unfortunately now I can't find or remember my password. That was worth maybe $40 back then, but it's like $500 now. Damn.

Given the fairly steady rise over the past couple of months, I'm thinking the bubble will probably last until non-"nerd" people get into it. I'm thinking of investing $2500 or so to see where it goes.

Exchange rate is around $155 now. It's been fluctuating wildly all day though. After the big drop, it worked its way back up to $200 or so, then down to $128 (lowest I saw) then up to $180, now in the $150s... I think I'll probably just do a bank transfer, and even if it takes a couple of days, it might give the market time to even out a bit and we can see whether or not it's going to continue appreciating.

[guerrilla]

dayummm, a drop from 266 to 165??? is that a "correction" or the beginning of the fall? Im predicting the double peak on the charts as the technical analysts say

[guerrilla]

too bad you cant really short this shit

[Rah]

Yeah man this is one of those scenarios where I'd feel less vulnerable going in naked short than long. BTC has only been within spitting range of $100 for what, a month? And that's only after spontaneously flipping the fuck out for no reason after a relatively smooth, gradual curve for years. There's so little precedent, and not just in price.

It's a "crypto currency", whatever the fuck that is! Totally untested monetary system made by idealistic geeks a few years ago. Publicly hosted on the internets, with its source code completely open! Russians have probably already figured out how to scam it! It could be currency 2.0 or it could be zapped by soviet electro-warheads into pixel dust tomorrow.

$266 - $105 daily range today! I get that the encryption cracking voodoo mining ritual model portends to imbue value into bits and bytes via requiring processing time to summon coins into being, and that there is a legit reason for the price to steadily increase as the monetary cap looms ever closer. But fuck me, that doesn't happen in a a day! It's a bunch of gamblers, else BTC would still be sub $50.

So as for me: I'm not going to hold BTC in this madness, I'm going to get in closer to the ground floor with the newer madness of LTC. I'm waiting for LTC to dip so I can scoop up some of that sweet mystery-bit soup to hold for the long term. Day trading isn't my style, I just want some exposure to this crazy new shit in case it happens to blow up to Jupiter again for no good reason.

Also, happy to report that through a series of arcane financial mechanims I don't even want to comprehend (else I suffer a panic attack), I now have some USD on BTC-E.com, even though I took a 15% haircut on the 30 min spread on BTC. One thing that all this speculation madness has messed up is the original fairly useful utility of bitcoins as a way to accept and make payments, it seems. Thirty minutes and who the fuck knows what you're holding.

P.S. I'm seriously considering buying a bunch of shit on newegg and building a respectable litecoin miner. The profit potential (extrapolating based on the fantasy of current prices) seems very attractive.

[guerrilla]

can you xfer btc to litecoin?

[Ovid]

Are litecoins currently less demanding to mine than bitcoins? A few years ago, you could mine bitcoins with an ordinary server farm, or even a PC. Nowadays, you have to have very specialized rigs to do the quadrillions or however many calculations necessary to find a new block of bitcoins in less than a thousand years.