Bitcoins in 2014?

[Retired_Member38]

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.

No scientific method to it... I just feel there is enough demand that you won't see it drop below that again. Expedia have announced they're now taking bitcoin for hotel bookings... I reckon other bigger players will get on board too. I don't think you'll get a bitcoin for < $1000 by the end of the year.

 

[PanzerWagon]

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.

Thanks, I'll have a look. Maybe I'll buy.

 

[PanzerWagon]

Going to take a punt on 10 bitcoins through localbitcoins.

What have people done on here to get them into a paper wallet? What's the best method?

 

[SF]

I use https://bittylicious.com/

 

[PanzerWagon]

I'm in. I used localbitcoins, was pretty simple. Well I think so anyway , I guess if my account is empty next week and my bitcoins have been spent then I've been done over.

Paying slightly over the odds and incurring a fee to transfer them out to a paper wallet is a slight annoyance but I'll live with it.

IFTTT recipe setup with target price to notify me with an email so I'll see what happens.

 

[SF]

I guess if my account is empty next week and my bitcoins have been spent then I've been done over.

.

I was thinking the same thing

How much coin do you have in your wallet?

 

[Jamie101]

I was thinking the same thing

How much coin do you have in your wallet?

So you're both leaving your coins on local bitcoins and telling everyone that? Not a wise move.

Sent from my GT-I9300 using Tapatalk 2

 

[Murray]

I think I will end up buying one in the next couple of weeks when i can be bothered to learn how to exactly + how to store it offline safely.

If they drop to nothing I shall blame all of you

 

[SF]

So you're both leaving your coins on local bitcoins and telling everyone that? Not a wise move.

Sent from my GT-I9300 using Tapatalk 2

Well what can you suggest ?

 

[Jamie101]

Well what can you suggest ?

Nearly anything other than leaving them on local bitcoins. Surely you've heard of exchanges being hacked and stuff.

Look in to a site called bit address. It helps you set up cold storage which means you're not risking your coins on am exchange / on a computer that's always connected to the internet.

I know it seems like a lot of effort, but it's actually easy enough to do.

Sent from my GT-I9300 using Tapatalk 2

 

[grantw]

Even if it's just a temporary measure, install a wallet on your pc such as multibit and transfer coins away from any exchange the second you get them:

https://multibit.org/

You can also install it on a USB drive if you prefer so that it's unplugged from the internet until you need it:

https://multibit.org/help_runFromUSBDrive.html

Grant

 

[SF]

Brilliant thank you jamie and grant i am looking into this now

 

[Jamie101]

No problem. Would just hate to see someone lose a few bitcoins. Could happen to any of us but you're better off doing a few things to reduce the risk.

Sent from my GT-I9300 using Tapatalk 2

 

[PanzerWagon]

So you're both leaving your coins on local bitcoins and telling everyone that? Not a wise move.

Sent from my GT-I9300 using Tapatalk 2

Nope. The minute the coins were released into my online wallet I transfered them to paper and put them in secure storage.

I was jesting about my bank account being emptied and my coins been stolen. But it's obviously not impossible. All someone needs is the secret key and the coins are theirs to spend.

I would only leave them in an exchange in a low quantity or if I'm attempting to day trade. Which as I'm not as I don't know enough about Bitcoin on the whole and I see them more as a buy and hold to see what happens. They will either flop or do well. I have a target price in mind then I'll sell. Got 5 first order and I'll top up this week now I know how it all works.

I can quite easily see them becoming more and more in demand and widely used though. As soon as Edwin started writing them off as a Ponzi Scheme I knew they were worth buying

Definitely something to replace Fiat currencies as its not unlikely the Euro fails completely. Which to a degree it already has. The only problem is the central banks and city hate bitcoin for obvious reasons. They'll try derail it I guess but I'm not sure they can as there is demand. I think its here to stay really.

We are in a bit of a bubble now too with quantitive easing etc but its going to crash soon enough. Then I think bitcoin goes up another notch.

 

[Murray]

We are in a bit of a bubble now too with quantitive easing etc but its going to crash soon enough. Then I think bitcoin goes up another notch.

This has whats got me interested in precious metals.

 

[PanzerWagon]

This has whats got me interested in precious metals.

Gold is a great investment.

It is ridiculous how this Uk government chooses bonds, which are now at record highs and the only things buying them are computers, over Gold.

It will definitely crash at some point. As usual the media do a poor job of reporting facts. You just get nonsense articles about how people have made X profit on their London home since they bought it 2002. Except that value has never been realised and they're about to drop.

Perhaps when all these bankers chuck themselves off buildings as their time is up. The city of London will be powered by Bitcoin...

 

[SF]

Hi Jamie

i am using this app on my iphone - https://itunes.apple.com/us/app/coin-pocket-bitcoin-wallet/id885640234?mt=8

ive restored my phone yesterday to test what would happen but it restored nicely and i was able to just open the app and there was my money

 

[Murray]

If you google "bitcoin price" is now comes up with the price at the top of the search results with a converter too for different currencies

I bet the people with bitcoin price sites are annoyed, work hard to get them ranking and then google just displays it in the search results

 

[Retired_Member38]

If you google "bitcoin price" is now comes up with the price at the top of the search results with a converter too for different currencies

I bet the people with bitcoin price sites are annoyed, work hard to get them ranking and then google just displays it in the search results

Surely anyone with a bitcoin price site will be an owner of bitcoins? If I was in that position I'd be delighted that google had wiped out my crap 1 trick pony website and added another legitimacy signal to bitcoin.

 

[Retired_Member38]

http://www.dell.com/learn/us/en/uscorp1/campaigns/bitcoin-marketing?c=us&l=en&s=corp

Dell.com now accepting Bitcoin - pretty major news, they're absolutely massive as far as online retail goes.