Bitcoins in 2014?

[Edwin]

Yeah i agree its totally the wrong way round from what were used to but its a "virtual" currency so is there really a right and a wrong? who says it has to be notes then coins in a virtual world? :-?

If they want to get traction, they'd be better off coining something from scratch (eg "the wombat" - random example) rather than trying to deal with 2 lots of cognitive dissonance (it's not a note AND the big-little relationship is inverted) at the same time.

 

[Edwin]

The huge runup in Bitcoin prices last November may have been engineered by 2 "bots" running inside MtGox
http://www.theguardian.com/technolo...ts-bought-millions-in-the-last-days-of-mt-gox

 

[Jamie101]

Prices shooting up again.

Just found this site on reddit which gives you $1 worth of bitcoins for free:
https://bonafide.io/refer25?ref=HSPQviQ89

Just link your account to your Facebook and your Coinbase account and you'll get the bitcoin within an hour or so. Think I'll get a dollar too for referring.

Sent from my GT-I9300 using Tapatalk 2

 

[boxerdog]

Nice find, you can also join that link in my sig to get free coins every 24hrs, just added Dogecoin as well, dunno what they're worth but im getting 0.00024399038 every day

 

[Jamie101]

Nice find, you can also join that link in my sig to get free coins every 24hrs, just added Dogecoin as well, dunno what they're worth but im getting 0.00024399038 every day

Dogecoins? They are pretty much worthless. I've about 20k of them and it's not even a fiver last time I checked.

Sent from my GT-I9300 using Tapatalk 2

 

[boxerdog]

Dogecoins? They are pretty much worthless. I've about 20k of them and it's not even a fiver last time I checked.

Sent from my GT-I9300 using Tapatalk 2

Bitcoins were a fiver at one point

*I don't think DogeCoins are worth anywhere near a fiver*

 

[retired_member36]

Just been reading over this article,

Bit coin is property NOT currency
http://www.bloomberg.com/news/2014-...erty-not-currency-in-tax-system-irs-says.html

 

[Murray]

US Government is selling 29,656.51306529 seized bitcoins

http://www.usmarshals.gov/assets/2014/bitcoins/

 

[retired_member33]

Price has been down, a shame with the good news of Apple and Ebay/Paypal(almost) adopting BTC...

The problem seems to be Ghash.io who are close to 51% of the mining hashrate, luckily a lot of miners have moved their equipment somewhere else

 

[Murray]

Price has been down, a shame with the good news of Apple and Ebay/Paypal(almost) adopting BTC...

The problem seems to be Ghash.io who are close to 51% of the mining hashrate, luckily a lot of miners have moved their equipment somewhere else

What sort of money do people have to invest in mining to make anything back? and what kind of money can they expect to make back.

 

[Skinner]

Bottom Line, unless you can get free or capped electric, it ain't worth it. Some guys I know, mine at uni in dorms where its set cost for electric, some run miners at work, one guy I spoke to online was talking about using solar, but ultimately unless your electricity costs virtually nothing, its minimal return.

What sort of money do people have to invest in mining to make anything back? and what kind of money can they expect to make back.

 

[retired_member33]

What sort of money do people have to invest in mining to make anything back? and what kind of money can they expect to make back.

As said above, it is rather difficult to get a return if you start mining now unless you have free electricity or know a way to build a very efficient mining operation.

I was actually just looking at ordering some new tools but the ROI simply takes too long, you are better off just buying some coins when the price is low.

 

[timter51]

I had 6 x 280x cards mining scrypt coins for a few months, but packed that in recently when it got to the point where I was only covering electricity costs. I was lucky to have at least covered my equipment costs during the glory days of Dec / Jan before things took a turn for the worst.

If anyone wants to buy cheap 280x card let me know I have 3 x Asus 280x cards that are unopened (RMA replacements).

 

[Murray]

As said above, it is rather difficult to get a return if you start mining now unless you have free electricity or know a way to build a very efficient mining operation.

I was actually just looking at ordering some new tools but the ROI simply takes too long, you are better off just buying some coins when the price is low.

Thanks, not interested in mining myself just interested at how it all works.

I was debating on whether to buy one if they dropped to £250 the other week but decided to invest the money into something else that's a bit (100%) safer

+ I would have to learn how to store them safely which seems to be a very important thing.

Still may end up getting one, but only if they dip in price again

 

[Retired_Member38]

imo if you want to 'invest' £250 you'd be better just buying 0.5 of a bitcoin and forgetting about it and hope it rises in value. Not worth the hassle of mining at this point...

 

[Murray]

imo if you want to 'invest' £250 you'd be better just buying 0.5 of a bitcoin and forgetting about it and hope it rises in value. Not worth the hassle of mining at this point...

Couldn't just buy .5, would want a whole one, but don't really want to throw away more than £250 on a gamble, so will wait to try and buy at a dip

 

[Retired_Member38]

Couldn't just buy .5, would want a whole one, but don't really want to throw away more than £250 on a gamble, so will wait to try and buy at a dip

imo you are never going to get a whole bitcoin for £250 again. Outside of a complete collapse, and at that point you probably don't want to be buying anyway

The % of a bitcoin you own is irrelevant anyway surely? If it goes up 40% then you gain 40% of whatever you put in... it doesn't matter whether its 0.5 of a bitcoin or 1,000,000 MurrayCoins or anything else

 

[Murray]

imo you are never going to get a whole bitcoin for £250 again. Outside of a complete collapse, and at that point you probably don't want to be buying anyway

The % of a bitcoin you own is irrelevant anyway surely? If it goes up 40% then you gain 40% of whatever you put in... it doesn't matter whether its 0.5 of a bitcoin or 1,000,000 MurrayCoins or anything else

They were down around the £250-ish mark not too long ago, early may.

What has secured them to having a new bottom?

I'm not asking sarcastically btw, I have no idea what's driving the price up or the the dips.

 

[PanzerWagon]

Couldn't just buy .5, would want a whole one, but don't really want to throw away more than £250 on a gamble, so will wait to try and buy at a dip

If you're only buying 1 coin then you're buying to hold really rather than try make a quick buck.

I wouldn't worry about buying on a dip, just buy it and forget about it, set some kind of alert for your target price and sell it if it reaches it.

I tried day trading shares before like I imagine you can probably do with BitCoin, but for every success there was about 10 losses. Now I just buy in, set a target price and ignore any sort of volatility.

I haven't bought any bitcoins though. What's the best UK marketplace?

 

[timter51]

If you're only buying 1 coin then you're buying to hold really rather than try make a quick buck.

I wouldn't worry about buying on a dip, just buy it and forget about it, set some kind of alert for your target price and sell it if it reaches it.

I tried day trading shares before like I imagine you can probably do with BitCoin, but for every success there was about 10 losses. Now I just buy in, set a target price and ignore any sort of volatility.

I haven't bought any bitcoins though. What's the best UK marketplace?

Coinfloor is the only decent UK exchange I know of, but I only ever buy from QuickBitcoin or Bittylicious... just quicker and easier than having to load an exchange with funds (though usually slightly more expensive). There is also localbitcoins where you buy from other joe bloggs, but I don't see the point of using that other these other methods.