So you want in on Bitcoins but don't know how to get started?

[BriGuy]

The only ones who own BTC's now are sophisticated high tech, high risk investors. Bitcoins are jusssst starting to catch on with regular folks. Demand is picking up as new investors decide they are worthy of a few bucks. Demand IS growing. There are challenges, not a sure thing. But if it does survive they will increase 10x to 100x in value. Very good risk to reward ratio.

Sorry but demand is NOT growing. Price is down ~40% over the past few months with minimal increase in supply. That is not a sign of growing demand.

The only people promoting bitcoins are the suckers who already own them and just want their investments to increase.

[ACoochy]

BitCoin: The Ultimate Long Con

18 trillion

[jjgold]

I am staying away
There is something about this that seems fishy

It's unregulated which is scary

[SBR_John]

Sorry but demand is NOT growing. Price is down ~40% over the past few months with minimal increase in supply. That is not a sign of growing demand.

The only people promoting bitcoins are the suckers who already own them and just want their investments to increase.

Hmm.. in mid November they were $240 each. Today they are $643. A year ago they were $125. Do you think they went from $120 to $643 because A) demand is NOT growing Or B) Demand IS growing???

[SBR_John]

Long verifications imo are warning signs

Be careful Mr Walker with these exchanges

Day 3... They have an interesting log in system. You have to have an app that generates a number key good for 30 seconds...plus you need your ID and PW.

It is definitely bush league. You know it takes someone 2 minutes to approve or disapprove. But they trade around 8,500 BTC's a day, 7 days a week. That's $5.5 million a day. It's a very interesting situation.

[jjgold]

Mr. Walker you will hear a lot of war stories in the future regarding bit coin unless it is regulated by the government

Very few things can be successful without regulation

Mr. Walker I am here to protect you

[SBR_John]

Mr. Walker you will hear a lot of war stories in the future regarding bit coin unless it is regulated by the government

Very few things can be successful without regulation

Mr. Walker I am here to protect you

The risk vs reward ratio is right for me in this one. The only holders now are tech-savy, high risk speculators. If the concept of a digital currency makes it even slightly toward main stream the price will go up 10x to 100x. So its 1 unit to make at least 10 and I think the chances it does gain some main stream traction is very good.

[Mitchell88]

The risk vs reward ratio is right for me in this one. The only holders now are tech-savy, high risk speculators. If the concept of a digital currency makes it even slightly toward main stream the price will go up 10x to 100x. So its 1 unit to make at least 10 and I think the chances it does gain some main stream traction is very good.

I like it John. You are not stupid if things seem like they are getting to crazy get out. The only way you can get really fuked if you invest your life savings into it which I am sure you are not.

[jjgold]

<object id="cnbcplayer" height="380" width="400" classid="clsid<img src=" http:="" forum.cloud.static-files.com="" vb4="" images="" smilies="" biggrin.png"="" border="0" alt="" title="Big Grin" smilieid="3" class="inlineimg">Cryptocurrency bitcoin, which has come under rising scrutiny since the recent collapse of Mt.Gox, has a much better shot as a payment mechanism than a currency, says Goldman Sachs.
"The most commonly identified properties of a successful currency are that it is: widely (if not universally) accepted as a medium of exchange (and) a stable store of value," Dominic Wilson and Jose Ursua economists at Goldman Sachs wrote in a report on Tuesday.
"To achieve this, fiat currencies are generally protected by extensive regulation. They are usually recognized as legal tender; the government is generally obliged to accept them for tax payments; and the central bank is almost always the sole issuer," they added.</object>

[flyingillini]

Lots of novice ignorant posts in this thread.

[sickler]

For those who want to hold on to some bitcoin why would you want someone else holding it? Coinbase and the like keep +95% of the coin in cold storage where it isn't vulnerable to hackers but they control your private keys. They could steal the bitcoin or have it confiscated. What recourse would you have?

The bitcoin address generator works offline. You don't have to be on a computer connected to the internet. You can create paper wallets and keep those keys tucked away.

[BriGuy]

Hmm.. in mid November they were $240 each. Today they are $643. A year ago they were $125. Do you think they went from $120 to $643 because A) demand is NOT growing Or B) Demand IS growing???

Demand is undeniably currently on a downward trend, period, end of dicussion.

[SBR_John]

OK, as you recall I signed up for BitStamp on Monday. I sent perfect scans of my ID and bank statement. I hear nothing for four days so I write to CS asking WTF? And their response is;

Rok Štucin
8 hours, 32 minutes
Dear john,

thank you for submitting a verification request. However, as support does not have the authority to verify user accounts, we cannot give you an exact timeframe of the verification process for your case.

After the verification process is concluded, you will be notified of the result in an email.

If you have any additional questions, please feel free to contact us again.

Best regards,
Rok Štucin

I sure hope the rest of their company is run better than the verification department.

[SBR_John]

Demand is undeniably currently on a downward trend, period, end of dicussion.

Sound a little like my wife after she is proven wrong. Hopefully it will continue this "downtrend" up to $2000.

[eidolon]

I do find it interesting/concerning that over 50% of the bitcions are owned by only 1000 people.

[jjgold]

The government is talking about some sort of regulation which will help it

There a couple big exchange collapses away from having a great run

It's also not cheap so the average investors staying far away from it

[SBR_John]

I do find it interesting/concerning that over 50% of the bitcions are owned by only 1000 people.

You got a source or link? I'm not doubting it I'd just love to follow that kind of info.

Goldy, you are correct...at least in the vain that this is going to take a while to ripen and mature. In the early days the play was this is a secret, untraceable currency. That's over. Opening a bitcoin account is the same horseshat as opening a bank account now.

As the previous poster stated there are only a 1000 holders maybe 2000 max. As this concept of a extremely finite digital currency broadens out it could get interesting. Imagine what a dollar would be worth if at the time of the first printing the founding fathers limited the total dollars to 21 million? A penny would be worth a billion dollars.

[jjgold]

:
"47 individuals own 28.9% of the approximately 12 million Bitcoins in existence so far."(although this number has changes. The top 100 addresses combine now 20.7%)

http://www.businessinsider.com/927-people-own-half-of-the-bitcoins-2013-12

So now we had a few big movements today.
There were this addresses:
30k

https://blockchain.info/de/address/1Ewk1sqTMYw41aYgtQiWvuoZbGGa99wHyj

50k

https://blockchain.info/de/address/1P3S1grZYmcqYDuaEDVDYobJ5Fx85E9fE9

50k

https://blockchain.info/de/address/12HddUDLhRP2F8JjpKYeKaDxxt5wUvx5nq

40k

https://blockchain.info/de/address/16Ls6azc76ixc9Ny7AB5ZPPq6oiEL9XwXy

30k

https://blockchain.info/de/address/1MyGwFAJjVtB5rGJa32M6Yh46cGirUta1K

So the press would or politics would say: Yes, there are 5 individuals who own 200 000btc.

Now, there is not really a way to find out if the ower of this coins got changed, but they were all - up to today - controlled by one person. But now this coins all got split up into smaller portions. It is odd, that they did not use even numbers. If you follow the coins you get to addresses with 300 to 3000 coins.
Many of the coins stopped moving about 4 hours ago, some are still moving (I saw one with 6 confirmations).

So I would guess the 200 000 coins of this 5 addresses got - so far - split up into about 150 different addresses.

[SBR_John]

Dear john,

Your verification request has been confirmed.

If you have any questions regarding Bitstamp exchange service please read our FAQ or use our support form (https://www.bitstamp.net/support/). Our support staff will be more than happy to assist you.

Best regards,
Bitstamp team
Go to Account S

OK, I'm in.

[boondoggle]

Now we can exchange betpoints for Bitcoins?

[jjgold]

Bitcoin staying in a tighter trading range as of late less volatility
I guess a good sign

[SBR_John]

Now we can exchange betpoints for Bitcoins?

I think we will give a couple away in future contests.

Goldy, very tight range with a slight bias down.

[jjgold]

http://btcvol.info/

[SamDiamond]

Transaction Details
PendingYour BTC will arrive by the end of day on Thursday Mar 13, 2014. March 07, 2014, at 12:02PM CST
Amount Received
9.00 BTC
From
Avatar Coinbase (transfers@coinbase.com)
To
Avatar You
Message

Bought 9.00 BTC for $5,635.40.

Nice 2500 dollar loss John.

Good call.

[Burkina2008]

Biggest scam ever...
Anyone that knows anything about economy knows that a currency has to be backed up by something and bitcoin is just virtual non-sense
Lost around 65% of its value since December, i guess some people never learn...

[James D]

Biggest scam ever...
Anyone that knows anything about economy knows that a currency has to be backed up by something and bitcoin is just virtual non-sense
Lost around 65% of its value since December, i guess some people never learn...

This is your very first post on SBR about bitcoins. You seem pretty confident bitcoin is nonsense. Any reason besides the ridiculously obvious one you decided to post this today?

One other question, the guys who less then two years ago bought bitcoin for less then 5 dollars, what did they learn exactly?

[Burkina2008]

This is your very first post on SBR about bitcoins. You seem pretty confident bitcoin is nonsense. Any reason besides the ridiculously obvious one you decided to post this today?

One other question, the guys who less then two years ago bought bitcoin for less then 5 dollars, what did they learn exactly?

Dude people also bought Enron stock for 5 bucks and made 20x that if they had sold at its peak, but when it went public that it was all smoking mirrors, the stocks went for pennies in days. And this was a large company regulated by NYSE.

Bitcoin is as useless as the shit that comes out of ur ass and is taking exactly the same kind of trend movement as most of the other scam predecessors. People bought it at 5$, it became an elusion went up to 1200$ and in a few months lost 2/3 of its value and is falling every day until it tanks into oblivion...

That is why some guys that were talking about this a few months ago in here are quiet...its the shame of being scammed i guess..

[James D]

Dude people also bought Enron stock for 5 bucks and made 20x that if they had sold at its peak, but when it went public that it was all smoking mirrors, the stocks went for pennies in days. And this was a large company regulated by NYSE.

Bitcoin is as useless as the shit that comes out of ur ass and is taking exactly the same kind of trend movement as most of the other scam predecessors. People bought it at 5$, it became an elusion went up to 1200$ and in a few months lost 2/3 of its value and is falling every day until it tanks into oblivion...

That is why some guys that were talking about this a few months ago in here are quiet...its the shame of being scammed i guess..

Oh good I ask a legit question and you get hostile now it's my turn.

Enron, thats a really good example. So I guess I could give examples of winning stocks like Microsoft Starbucks or Apple right? Don't worry I won't do that because comparing a stock to a virtual currency is like comparing you to an intelligent human being, there is no correlation whatsoever. As far as the guys here that have lost money on bitcoins I am not the kind of guy to rub their noses in it, congratulations if you are that kind if guy. I have posted many times that I do not own bitcoin and at the price it was of late I did not feel the risk was worthwhile. It's ironic You make comments calling out the people that are laying low because bitcoin went down, so obviously you were in the threads. How come you never posted how bitcoin was worthless even one time back them? Sounds a little hypocritical don't you think? You are obviously just a hater that was miserable some people made some life changing scores on bitcoin and you didn't.



One other thing dummy, your Enron example is impossible . Enron stock never broke 100 so even your imaginary example is as useless as you are, have a great night .

[James D]

If people wonder why I am so annoyed by this guy I would like to point out his first post ever on SBR, link is below. He made an account and immediately made a thread about someone using his offshore acct and blowing his 1600 euros. The first 20 posts in the thread are people being extremely helpful to him. Linking the SBR complaint form among other helpful ideas. When one person makes the inevitable comment implying he blew the money himself he gets all pissed off and offended. Asking " would you like if this happened to you " and other similar comments. So he can join SBR on day one post a thread about a problem and 95% of the people try to help him out. But he gets so upset and offended when one jerk laughs at his misfortune. Yet he has no problem laughing at others misfortune.

http://forum.sbrforum.com/sportsbooks-industry/1029671-unibet-stealing-money-please-help.html#post9583313

FWIW the end result was his brother used his acct. He wasn't hacked after all.

[Burkina2008]

If people wonder why I am so annoyed by this guy I would like to point out his first post ever on SBR, link is below. He made an account and immediately made a thread about someone using his offshore acct and blowing his 1600 euros. The first 20 posts in the thread are people being extremely helpful to him. Linking the SBR complaint form among other helpful ideas. When one person makes the inevitable comment implying he blew the money himself he gets all pissed off and offended. Asking " would you like if this happened to you " and other similar comments. So he can join SBR on day one post a thread about a problem and 95% of the people try to help him out. But he gets so upset and offended when one jerk laughs at his misfortune. Yet he has no problem laughing at others misfortune.

http://forum.sbrforum.com/sportsbooks-industry/1029671-unibet-stealing-money-please-help.html#post9583313

FWIW the end result was his brother used his acct. He wasn't hacked after all.

Dude are u retarded or cant you read? I am not rubbing anything on anyone, I couldnt care less if u owned bitcoins or not and yes it is comparable to Enron and I do work in the LSE with derivatives, so I do know something about forex and stocks.
Just like bitcoins, enron stock was smoking mirrors...are u comparing it to Microsoft, Apple or Starbucks? Dude these are all companies that u actually know what their business is and how their market grows or not. Just like Enron, can you actually explain how bitcoins works? What is all the processing power being used? No, u cant! So it is like any bouble.

About Enron not reaching 100$? Are this clueless about market prices? Do you know that Enron was a top50 american company in market value in 1999, meaning that all the bitcoins in the world could not even buy a pubic hair of Enron...

I am done talking with u dude, as u dont have a clue of what u r talking about. I am very sorry that people lost money in this bitcoin bubble, but they should have known better, just like I shouldnt have let my brother use my computer back in 2010 or 11 and that was my fault.

[jjgold]

Bitcoin might be a really good BuyRight now

How much lower could if go as it has taken a pounding

[vividjohn45]

CoinBase headquarters:

Id buy. Sign my azz up. Which dude is my broker?. I hope the 2nd guy sleeping next to the first guy. Cant say i trust the dude hiding in the corner. Looks like that mattress culd fit four