Amberman wrote: » Im not saying it isn't going to correct somewhat from here. I think it will...no asset goes up in a straight line. The global savings rate (especially the Western savings rate) is low compared to historical norms, and savings alone don't cause currency appreciation...so you can safely ignore the Economist. Agreed that anyone putting all their savings into one vehicle is lunacy. What happens if there is no crash? Space your purchases out over time to mitigate this risk and smooth returns. I am not selling my Bitcoins, sorry. They're making me a fantastic return. If anything, I'm buying more shortly.
georgiecasey wrote: » Do you wanna share how much you bought originally and when, did you cash out on any and how much you have left?! Just out of curiosity, I'm sure you won't want to answer. Yeah, it's so hard to buy at the moment. When someone finally cracks how to sell them online and accept paypal/credit cards without risk of chargebacks, it'll be real interesting.
pH wrote: » There's a relatively safe site called :http://localbitcoins.com/ You need to buy with cash by meeting someone - but it has a safe transfer mechanism. You agree to a deal on the site - the site gives you a code (that you keep to yourself) You meet up, hand over the cash they seller does some magic - the seller will only be shown the code once they have actually transferred the bitcoins. So if the seller can provide a code that matches yours then you can be confident that the transfer has happened. I'm not suggesting anyone takes thousands of euros, but if someone wanted a couple of hundred euros worth of bitcoin it's no more risky than handing over cash to buy anything you've ordered on the net.
georgiecasey wrote: » Do you wanna share how much you bought originally and when, did you cash out on any and how much you have left?! Just out of curiosity, I'm sure you won't want to answer.
georgiecasey wrote: » Yeah, it's so hard to buy at the moment. When someone finally cracks how to sell them online and accept paypal/credit cards without risk of chargebacks, it'll be real interesting.
nothing in Google news about a hack. Seems it's down for maintenance and has cleared out its wallets as a precaution as far as I can tell.
We have detected a security breach. Services are temporarily suspended until we have thoroughly investigated the situation. We will resume services as soon as possible.
theroomisonfire wrote: » I just saw that 1BTC is now trading at €103 on Mtgox. madness!
martyoo wrote: » So while the Bitcoin protocol may be secure (for now) your computer and someones website are not.
Amberman wrote: » Bitcoins are now almost $145! :eek: As soon as they get to $100,000, Im selling. Looks like Tuesday fortnight should be payday at this rate.
Roonbox wrote: » I am loving peoples blind enthusiasm on this.. its exciting. I don't buy it for one second as a viable alternative but I am tempted to take a ride on the mania train for a while if I get an opportunity to get in cheap.
zonEEE wrote: » "The exchange blamed a type of hacking attack called a distributed denial-of-service attack (DDoS)." Bitcoin hacked ? A ddos on an exchange and cnn comes out with that bullsh1t. Guess thats CNN for ya.... Pity the fools who take their word for gospel
Giles wrote: » Anybody seen this site?https://www.casascius.com Very interesting!
Cavehill Red wrote: » You just need to shut access to the network. That can be done through regulation, which is likely imminent, or through hacking an exchange, as has happened already.
zonEEE wrote: » For you to bring down the network you would have to shut access to the internet for every single person in the world, Each person is a node. This is impossible.
zonEEE wrote: » I got an awful funny mental image in my head : Gardai using "major network shutting GUI" shutting the internet down.
srsly78 wrote: » Cavehill Red your criticisms are off the mark, you clearly do not understand the basic technical stuff behind this. Indeed you should not invest in something you have no idea about.
fergalr wrote: » srsly78 and zonEEE, I thought you were pretty hard on Cavehill there. My understanding is that Cavehill says there's significant downside risk, in the event that a nation (e.g. USA) decides to regulate and legislate against Bitcoin,
and attempt to shutdown the network. You dismiss Cavehill's claims, and say its not possible to shutdown the network.
I would be very interested in some sort of technical explanation for why you guys think that nation-state level resources couldn't shut down the Bitcoin network?
hfallada wrote: » Bitcoin was on the front of the FT this week saying its only spiking being of the cyprus situation. Also if the bitcoin currency grows very big the US government will shut it down. I seen some man in the middle of nowhere made like $5 million of his own currency in the US and was put in prison for 25 years. The US government may force them to close it. They have successful banned( some people obviously still do it but a majority dont) internet gambling probably because it was a threat to US casinos
srsly78 wrote: » Successful like the war on drugs I suppose?
Amberman wrote: » LOL...I can see it now..."The war on Bitcoin" ... its a matter of natioanl security and anyone who uses it is a terrorist. **** OFF America!
