Bitcoin/Litecoin

KyussBishop

When Bitcoin crashes, I'd say it's going to take less than a couple of days for its value to be decimated - is there really no fast way it can be converted into fiat?

When this pops, I wouldn't be surprised to see many of the BTC-to-Fiat exchanges conveniently freeze up for much longer than a couple of days, while all of the large players in the market have preferential means of cashing out (decimating Bitcoins value), well in advance of all the smaller participants cashing out.

sReq | uTeK

safetyboy wrote: »

https://www.virwox.com/index.php?drgn=1

buy SLL then trade to BTC, takes 48 hours, or try other area's if you are willing to hand out cash to a stranger https://localbitcoins.com/

Sorry a bit new to this but ive had a read and im assuming it works like this.

deposting some EUR, Convert to SLL then convert SLL to BTC and then I enter in the Deposting address that is provided to me on BTC-E correct?

Bigchrome

Hi guys, relatively new to this and been mining and trading for the last two weeks or so. Using BTCe as an exchange. Has anyone successfully withdrawn money to their bank account or through paypal and how did you go about it? I almost have the $500 minimum required for most withdrawal methods so I'll be looking to liquidate soon. I don't want to use a withdrawal method that requires me to send scans of my passport.

I've signed up for a neteller account, has anyone used this just verifying their bank account and not having to verify their identity?

Cheers!

but43r

Wow, this thing seems to be on fire. When it hit $350 I was thinking I'll get some when the price crashes. Wow, wish I would have bought in then.
I can't see how the current price can really be sustainable at the moment. Are there any estimates from a reputable source that show Bitcoin usage to pay for stuff vs speculative transactions?

howamidifferent

Who would be spending when their holding is growing exponentially? It's all speculative for the past month. When it pops it will make an almighty big bang leaving a nice big hole in the accounts of those last to board the train.⚠💥

murrayp4

sReq | uTeK wrote: »

thanks, cant seem to buy on BTC-E any tips
sorry i see you need to xfer with sepa, is 2k the minimum deposit

Localbitcoins.com is your only man.

murrayp4

Bitcoin appears to be rising rapidly based purely on speculation- actual commerce is near zero. Why would you buy something today with bitcoins when the same bitcoins might be worth double one month down the line?

Mint Aero

murrayp4 wrote: »

Bitcoin appears to be rising rapidly based purely on speculation- actual commerce is near zero. Why would you buy something today with bitcoins when the same bitcoins might be worth double one month down the line?

Gotta grab 'em before they're gone

shanemort

if anyone here needs to get thier cash out and cant wait 6-8 weeks like mtgox are offering i can have the euros into your bank account or cash for you in 3-4 days from BTC Deposit

Long time boardsie and adverts.ie verified with long time feedback!

Drop me a PM

Cove.Throne

Does anyone know where I can sell litecoins? The only exchange I've come across which allows for withdraws in euro is btc-e but they have a min withdraw of €500.

corglass

Looks like bitcoin price is on free fall right now..... Back below 1000 dollars

D3PO

corglass wrote: »

Looks like bitcoin price is on free fall right now..... Back below 1000 dollars

back to nearly $1,1000 now. Lot of people cashing out some of their investment I suspect to get cash to invest in the new mining hardware that went on presale yesterday. So its not entirely surprising.

AtomicHorror

corglass wrote: »

Looks like bitcoin price is on free fall right now..... Back below 1000 dollars

Hardly free fall- the price has bounced at least twice since the drop this morning and seems to be headed for $1100 again. That's after a major "clamp down" in China, pundits calling "crash" and another drugs website vanishing.

AtomicHorror

D3PO wrote: »

back to nearly $1,1000 now. Lot of people cashing out some of their investment I suspect to get cash to invest in the new mining hardware that went on presale yesterday. So its not entirely surprising.

Wouldn't say it was that- mining's pretty niche now. Far more likely to have been panic at this morning's news from China.

D3PO

AtomicHorror wrote: »

Wouldn't say it was that- mining's pretty niche now. Far more likely to have been panic at this morning's news from China.

I think its a combination of both tbh. Mining isn't as niche as you think. With current rates putting estimated ROI on the boxes at under a week theres still plenty of small players out there dabbling in mining and these are the kind of guys without investors so need to liquidate assets for the most part to order the mining hardware.

But certainly a China led panic was afoot too. Those of a nervious disposition will have been washed out of the system by now and market rates support that.

Roonbox

D3PO wrote: »

I think its a combination of both tbh. Mining isn't as niche as you think. With current rates putting estimated ROI on the boxes at under a week theres still plenty of small players out there dabbling in mining and these are the kind of guys without investors so need to liquidate assets for the most part to order the mining hardware.

But certainly a China led panic was afoot too. Those of a nervious disposition will have been washed out of the system by now and market rates support that.

What was the news out of China?

Roonbox

Roonbox wrote: »

What was the news out of China?

Nevermind

http://business.time.com/2013/12/05/bitcoin-plummets-after-china-bans-it-from-banks/

AtomicHorror

Already back to the same price as 3 days ago. Always seems to recover rapidly.

safetyboy

This is some mining set up

https://litecointalk.org/index.php/topic,7879.new.html

thunderdog

Looks like bitcon is dropppng quite fast. At 699 dollars a bitcoins now. Lat time it dropped this fast i panicked and sold. Gonna stay stong this time...i think!

fainthope2310

Anyone know a decent site to buy Litecoins by SEPA?

Value Hunter

AtomicHorror wrote: »

Already back to the same price as 3 days ago. Always seems to recover rapidly.

It's dropped 40% since your post......

In 2 days ago :pac::pac::pac::pac::pac::pac:


How people think that something that had increased by 6800% in one year isn't a bubble is beyond me

Is common sense disappearing?

Value Hunter

AtomicHorror wrote: »

I think it's a positive expectation bet in the long term, good enough?

Sigh... more ambiguous nonsense. Buy now or not?

Value Hunter

[QUOTE=alb;

PS have the goldbugs seen this: http://igolder.com/[/QUOTE]

Bunch of fools jumping from a sinking ship onto the next 'big thing'

Value Hunter

Sorry for all the multiple posts. Just one more that caught my eye

Bitcoin chart since inception


http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zv

Laughable last few months, lets be honest anyone who didn't spot a bubble is a idiot

alb

Value Hunter wrote: »

Bunch of fools jumping from a sinking ship onto the next 'big thing'

It can still be the next big thing, despite price volatility in the short term.

Value Hunter wrote: »

Sorry for all the multiple posts. Just one more that caught my eye

Bitcoin chart since inception


http://bitcoincharts.com/charts/mtgoxUSD#tgSzm1g10zm2g25zv

Laughable last few months, lets be honest anyone who didn't spot a bubble is a idiot

This isn't the 1st 'crash' it's the 3rd or 4th, the one from April earlier this year doesn't look like such a big deal any more. Click the log scale button on that graph to get a better idea of the long term trend, and you'll see that in the medium term Bitcoin has only ever crashed upwards

A correction was due, and people are panicking about the China news (I'm not sure of the implications of this either way personally, I've read a few different interpretations). If demand from China does fall due to this it will put the brakes on the a bit, but Bitcoin hasn't failed, and there's been many more positive stories than negative recently, so I'm not worried.

alb

Value Hunter wrote: »

Laughable last few months, lets be honest anyone who didn't spot a bubble is a idiot

Also, I'm not clear on who's the idiot here? is it anyone owning Bitcoin, someone who bought in 6 months ago? 3 months ago? at the peak of 1200 but has not panic sold? or all of the above.

Easy to spot a quickly increasing price, but did you call the top? can you call the bottom of the 'crash' now?

I would also advise comparing the chart of Bitcoin to date to that of Google (or facebook or twitter) in its first 6 years between 1998 and 2004 as an example of why large growth in network effect tech inventions is possible without being a bubble.

AtomicHorror

Value Hunter wrote: »

AtomicHorror wrote: »

I think it's a positive expectation bet in the long term, good enough?

Sigh... more ambiguous nonsense. Buy now or not?

Investment is a gamble- my answer was certainly not ambiguous or nonsensical, if anything it was naively simple and straightforward. I’m a total amateur and my understanding of betting is basic. I'll try to explain anyway.

If you reckon the chances of BTC getting to $10,000 are better than about 8% (or better than 10% when you asked last time) then make the bet using whatever stake you can afford to comfortably use.

Is it possible that you're annoyed that I didn’t give an unconditional “yes” that you could now retrospectively sneer at? You can take your shot- my answer (if I could have put it across better) was a "yes" then and it is a bigger "yes" now. I think the chances that BTC will fail totally and go to practically $0 are somewhere greater than 80%, but if it succeeds the payoff makes the bet worthwhile.

Value Hunter wrote: »

Laughable last few months, lets be honest anyone who didn't spot a bubble is a idiot

One of your main stated criteria for this being a bubble was that the base value of BTC hadn't changed in line with the rapid increase in dollar price. Back then I countered that Baidu accepting BTC changed the base value, because it increased its utility as a currency, which is after all BTCs intended function. You had nothing to say to that back then, in fact you quoted that very post just above here and left that part out completely.

Drugs websites came and went, regulations were imposed and yet BTC weathered it all. Then Baidu stopped accepting BTC and the dollar price dropped. That suggests that the base value of BTC changed. So the recent rise and fall doesn't actually seem to fit with your previous definition of a bubble at all.

You've called the crash after the fact, which isn't much to sing about. Now, going by the model “bubble” graph that tends to do the rounds in these BTC debates, we should see a “bear trap” and a second lower peak after the first one, followed by a sharp fall to below the base value. Care to now put your insight to work and predict the time and values for these? Time to within 24 hours would be fine, and value to within $100. Not being rhetorical here, just curious.

AtomicHorror

AtomicHorror wrote: »

You've called the crash after the fact, which isn't much to sing about. Now, going by the model “bubble” graph that tends to do the rounds in these BTC debates, we should see a “bear trap” and a second lower peak after the first one, followed by a sharp fall to below the base value. Care to now put your insight to work and predict the time and values for these? Time to within 24 hours would be fine, and value to within $100. Not being rhetorical here, just curious.

It's funny, I asked a similar question of a guy a on another message board few days ago shortly before the peak. He just today responded with the dazzlingly helpful "it's crashing now". Amusingly, the price seems to be stabilising today. Is this the "bear trap"? Is it the bottom that comes before the regression to the mean? Perhaps ValueHunter will be along to predict it 2 days after we find out.

Value Hunter

AtomicHorror wrote: »

Perhaps ValueHunter will be along to predict it 2 days after we find out.

Value Hunter wrote: »

And that doesn't scream bubble to you?

The above posted two week before the crash :rolleyes:

In volatile crackpot 'investments' like this it is impossible to predict the short term future accurately, the fact that a major crash occurred just two weeks after my post is more to do with fortune than skill on my part, i'm not so egotistical as to claim I predicted this crash perfectly.

However I think its pretty clear to anyone who read my posts that I believed this to be in a bubble, such a crash only strengthens my argument.

Any regular viewers in this forum know I am one of the most proficient at stating my position in an investment before hand. Which is in stark contrast to yourself.

AtomicHorror wrote: »

I think it's a positive expectation bet in the long term, good enough?

I believe every major stock market is a positive expectation bet in the long term...... Do you see the futility of such muddled predictions?

Its very easy to hide behind such ambiguous statements