heh I have a knc miner from 1 month old today I have made 21.5 btc and ROI etc

I've no clue how you guys who have come before with say 100 coins can actually not 'crack' under the pressure and sell for USD
and have a mid life crisis with a co-ed or a sports car instead....I can barely hang on to my coins after only 1 month!!!!

anyway we who are noobs salute your intestinal fortitude ie "big brass ones"

Searing

well I'd like to keep some coins I've been mining a month and have 21 btc..how you people with 100's of coins are not
selling now is beyond me ..I'm having problems and I've really only been doing this a month....(knc miner)

sheesh.....

oh well its only money (kinda sorta maybe could be if xchanged and if you remember the pswd and the usb drive ....money)

er by the by when I started mining oct 18th what was BTC like 150 bucks (I think may be wrong) and now its around 600 bucks....(hmmm.....
.....I smell 'Tulips!!!!" its a 'TRAP!!!!!"

anyhoo all the thrills ski jumping in front of your desktop....the speed the jump the fall the crash.....(probably)

been at this 1 month mining 21 coins....hmmm......may have to take any coin I get put in paper wallet USB and place far away in
safe deposit box in a bank......if I plan to just hoard.....this is like trying to take a break from women at the playboy mansion....restraint man
restraint.....

crap its only been 1 month of this for me no wonder everyone on here is insane

my current thought is ..when they have the U.S. House hearings on BITCOIN tomorrow ie 11/18....how nuts is all this gonna go if the hearing goes WELL

I mean we all know it will correct downward if it turns into a fiasco of press and the evil of bitcoin to bounce back up...

but what if....what if.....it ends in a really POSITIVE note ...I mean how NUTS will it be price rise wise if that is the case with 600 usd as a jump
off point and bitcoin gets 'stamped for approval" if even only temporarily?   

jeez..it could hit $1000 in a week if they came back light handed on regulation and glowing in their recommendations...


hmmm re-read the above ...yeah ..that an't gonna happen right?

Searing
 

got a KNC Jupiter I expected to make ROI in a lesiurey fashion in say 9 months to 1 year...as I expected hype to slow down etc more equip etc.....mad ROI in 25 days
started mining oct 18th I think coin then was around $150

to say I'm noob and confused is an understatement

ah hell its only money (or not depending on what the u.s. house says on Monday about all this)

heh power consumption being really really optimistic and selling at 600 bucks BTC at www.mtgox.com  minus the $7,131.80 USD I spent w/shipping (and not counting power supply)for the KNC Jupiter i have....I'm under those more then rosy conditions at 21 coins @$12,600 USD....minus $7131.80 that is $5,468.20 ahead and I'll have been mining 1 month tomorrow 11/18 as of 8:30pm CST USA.....as for electric it is a bit less then 100 bucks I think around 80 bucks but call it 100 cause I've been home a lot babysitting miner and giggling so more use on other computers and such this month

of course it will all go boom and I will probably be looking at 1/2 ROI on Monday after the U.S. House hearings ...or some such bad news...but hey that works too for 1 month of mining I have a Jupiter hashing 555gh consistent ..just put the new firmware on now 0.99 its hashing at around 564gh consistent....

heh been a good nite for me at least in the delusions of my own mind (yeah we are all insane it is only real variable that is constant in all this)

Searing


p.s. er as I ordered the Jupiter on July 1st I think BTC was 60 bucks or some such yeah better of getting BTC direct I would have been but no body imho noob wise jumps in with 7k or more in speculation...we always start with equipment...now in the future with how asic mnfg stuff trickles out etc etc I may change my tune but this is what I seem to hear how most start in bitcoin with miners (or did back in the early early days of summer 2013....)
 

I don't disagree but again at least as of summer of 2013 then things were not so nuts...most new to BTC bought miners as the 'safe' way to get into BTC ..speculation was not so nuts as it is now...so everyone I've talked to mined first...now that may be different this fall ....but most noobs DID mine first from my experience

but your point is correct to those who dropped 7k plus on 60 buck BTC and have kept it now past 600 usd now ..I salute you ..you have big brass ones...

myself I think btc was 150 1 month ago and was 600 btc a bit ago and I've managed to keep my 21 coins after 1 month .....for someone with the will power of a gerbil I'm quite proud of myself...(but again we are all insane and it will go boom tues probably ....just saying...when you find yourself in a nut house it is only polite to tell the other patients)

er how did I suck at math (not saying your wrong...it is some obvious trick in that I'm scratching my head with my Jupiter paid off (at least in the paper trail of my own mind ..ie still have coins) is that what you mean? (also true...we also serve that hold the bag when it all goes boom)

hey its "virtual gold" even gold compares itself to something..now when paypal and ebay take BTC that will loosen up a lot ..may work its way the other way around comparing USD to the amount of BTC you coulda had at a certain point in time

just saying "mental games" ...that earth killing asteroid coming straight down on earth over the north pole (no telescopes to warn us) will probably make this all moot next week

karma is a bi*ch and I myself am gonna play "look out for trucks next week"  goes around comes around (prob tues with btc crash sigh)

they do call this forum "speculation right......also everthing I think I know is wrong do the opposite odds are better for you

True but as I stated in previous posts with BTC at what $60 bucks last summer and being a noob I was unlikely to dump 7,131.80 out of the gate in pure speculation....at least this last summer everyone I knew doing bitcoin STARTED as a NOOB by mining...at least then...so yeah I agree with your point and may do more or all speculation in the future..but most people will ease in it slowly (or did) and will buy a piece of equipment that pays for itself first rather then plunk money down on a market speculation out the gate (I should coulda woulda done better doing the same with gold  a couple years ago to...also goes for the same in speculation on silver.....or flipping houses...etc ...but a piece of equip that at the time in say 7 months would pay for itself and make some coin after ..maybe enough to pay my home utils for 6 months ....zowie.....(remember we we're more modest in our hobby expectations back then ..or at least how I remember (remember Avalon? ...there are guys there who did quite well mining last summer WHEN  they got their equipment around that time I got my July order in for a Jupiter..which was risky enough with KNC being newer then wet paint as a company.

anyway again I agree woulda/shoulda but as a NOOB and imho it is very likely that trend will continue they will mine first and figure out this bitcoin stuff and then maybe buy/sell/hold more instead or in addition to mining..which is probably the area of the landscape of bitcoin you are at now....I'm probably heading that way too....

(ah yes if I'd only had the 'big brass ones' to buy at 60 USD..that BTC..tough sell last summer with everyone yelling how evil bitcoin was or so my feeble mind remembers)

as usual I'm clueless just saying

Searing

got a BTC woody from the link! 

sheezh...

www.mtgox.com $766

www.bitstamp.net $635.50


what a zoo!

http://www.usatoday.com/story/news/nation/2013/11/18/senate-holds-first-bitcoin-hearing/3628523/


do a google search of bitcoin senate on google for 24hrs you'll get more

most say it was pretty tame and they we're fairly easy on Bitcoin that day ..another reason the btc market went nuts imho

would dumping at 1000 even work....I hear this last time people tried to dump at 900 all it did was lock up and no one was able to sell on www.bitstamp.net for a bit prob www.mtgox.com as well...quite the racket if you buy and it goes high you can't sell at that price due to the bottleneck and logjam

advice on how to get around this (prob by selling sooner before the mad rush ...assuming you can even time that)

anyway advice for the next time everyone tries to go thru the *sell* door at the same time and gets jam'd up


er of course you could look at this as bitcoins version of "tamper proof locks* so the children don't sell too early...or some such?

Searing

Jeez it is like California *Whale Watching* on this thread...I'll just keep my 1 month of making 21 btc and stand in the corner over here less I get crushed by all the "Waltzing Whales"....should make a reality show "Real Bitcoiner's from Santa Claria" The drama the crying the gasping in dismay/joy....(crap actually that is just weird enough to work would be like "nerd porn*

Yeah me too...if it is a "speculative bubble" and whoever is last holding the bag...the odds are still good with like 3 billion soon to be middle class Chinese ...looking for investment..plenty of time to use evil genus plan and run away to evil paid for btc lair.....ah ha...(twirls evil genius mustache) ...delusion the only way to go thru life!

again I've got 22 BTC  a few days past a month so far mining as a NOOB....how many of you guys are gonna crack like an egg when/if BTC hits 1000 usd ..... ack....and from what I've seen on here if everyone runs to sell at the same time ..you seem to lock up the works anyway with no one selling....a nice little delusional loop

I've only got 22 coins ..it hits 1000 usd and I actually have the $$$ to plan and implement my foolish mid life crisis correctly (sports cars co-eds and bimbos)..(must resist)

anyway you with over 100 coins (big brass ones) I  will watch ponder and learn and www.mtgox.com is at $721 and going up as I type ....all aboard the 'roller coaster" exit stage left

sheez....only been doing this a month and flabbergasted already

unfortunately I (being only a month) tend to feel towards my  22 BTC so far like this little guy from Ice Age 1 with his Acorn.

http://www.youtube.com/watch?v=RbsGWNXZ51I

I'll learn but I mean how greedy do I want to be for 1 month.....(hits 1000 I'm gonna be a massive nerd meltdown on here of *should I sell or should I hoard ..will be an interesting sociological paper by someone I'm sure

jeez..i just started mining around 1 month ago..by my best calculation I'll have 25 btc at the end of the current month all together conservatively (started mining oct 18th).....and that is as a noob his first month mining....more or less..how you guys manage to hang on to 100/1000/10000 coins is beyond me.....I'm finding major shrinkage going on downstairs the closer this stuff gets to 1000usd for a btc

just saying ...... I guess this is where you find out if you have big brass ones or not

so far holding

i bow to your expertise ..beats me flipping a coin on stay/cashout on my whole 1 month of mining and 25 coins by the 30th more or less

you do not want to be a NOOB now in this....it looks like a rocket it goes up like rocket..is it a moon rocket or an evil knieval oops moment kinda rocket

(should prob go back to flipping coin..at least i'd have denialblity if it all goes south)

I tend to agree...at least at a gut level....but if BTC is not just a speculative fad it will come back...or die like the TULIP it was trying to be....a market (assuming it survives) will always go back to its previous high may take a day or a decade...the key here is it can yo/yo all it wants ...what is the end game say 5yrs or more from now.....is it a beanie baby fad that passes....or a paypal/ebay/inet game changer

anyway....I'm mining now... may mine later..not sure about speculating on up/down...may just mine and hold...if in the delusion of my mind I can show that the miners at least paid for themselves "on paper" I can probably live with that .....comfort level wise....if i'm wrong I still have some gains..if i'm right ..then no need to be greedy...risk vs reward don't ya know..i'll still be way ahead.....

anyway noob comfort level 1 armor 1 weapon 1 loincloth is where i am with this game so far...

feels that way got the miner on oct 18th BTC was about 150usd now will have about 25 coins by end of this week last I looked $866....

interesting month to start all this (frigging now i'm gonna have dreams about evil rabbits!!!)

well it is good to be this guy (even if it is bitstamp...i wanna think it is some nerd in mom's basement)

$150,000,000 moved a few days ago and consolidated (good to be him/her)

http://www.washingtonpost.com/blogs/the-switch/wp/2013/11/23/heres-who-probably-did-that-massive-150000000-bitcoin-transaction/

I wonder www.kncminer.com has a Chinese site (has for a few months) but MOST imho did not make the last cut. KNC is now taking PREVIOUS 1st run CUSTOMERS orders (in part for believing in their fledgeling company ..when it was smoke/mirrors in april) ....in 2 weeks it will be open to ALL to order

What is gonna happen to the KNC site China when all those folk who'd like a miner can pre-order one (est time of delivery imho march) at 3 PH min hash rate?

it is gonna be nuts imho .... in that KNC has already proven they can get stuff out the gate in mass as promised

anyway anything that inspires confidence like a lot of folk waiting on a miner has to help word of mouth and press wise to promote BTC

my 2c worth

Searing

hmmm should mentally prepare self for shock of 2k coin ..or less then 500 usd coin

at this rate it will be one camp or the other either way ...I'm probably gonna freak....

(deep breaths..paper bag in coat...for soon to arrive hyperventilation)

sheesh this was supposed to be a 'hobby' when I ordered a knc miner in july....wtf universe did I drop into?

Searing

heck got a little "btc woody" from envy..(that much coin....ack)

actually if BTC was the only money used now....and everyone had to buy via smart phone app that is exactly how it would work today

sheesh scared self

Searing

can you imagine the frantic attic searches and digging out of old mining farm equip now that LTC has hit...what is it $40 usd....

happy days are here again for some guys old btc farm ..moving on over to LTC I bet

heh..

never throw anything away...(crap I have a couple cards someplace and a tower..what the heck beer money)

Searing

kinda a side note here on wire xfer us and why bitcoin will work
took my bank 1 hr 15min to do an international wire xfer for knc usa to sweden
they then called me back..and it took 2 bank managers and a teller just doing my
wire xfer 3 1/2 hrs to get it done ie learned lesson go with comercial bank regular
banks have not clue on wire xfer

but if it is this nuts in USA for a wire xfer how nuts is it in other countries with
less resources....jeez bitcoin has to work this was a farce

for what it is worth for those on the fence if bitcoin has a real purpose/need or not.

sorry but have not gone back in the thread to check..but briefly ....what is the consensus on here for the floor on this? or its anyones guess?

myself I figure 500....but then I know diddly

Searing

never admit you panic ..you are just following a "unique strategy" don't ya know....(hey works for me)

ah hell...its only money right? (or not if you are the Chinese gov't)......

what do they say you should accomplish in life

1) plant a tree

2) write a book

3) make a fortune (lose a fortune)

(off to get some milk and cookies I done went and depressed myself)

Searing

well it could be worse....you could have a mule and a plow and the mule just died .....

the problem is I like mining ...I suppose they will find me in my house alone still mining coin ('the poor fool they will mutter) but hey it is tidier and less hassle then keeping a large herd of cats.....

time to break out the "soggy bottom boys" "man of constant sorrow" a little theme music for the thread here

http://www.youtube.com/watch?v=jsdCpqPs_UI

ah hell its only money (whimper)

Searing

me I have 28 coin..so gonna stick it out for those of you with a lot more...no idea...just saying

well I got my Jupiter miner oct 18th and coin was around $150 ....it was supposed to be a hobby get ROI back in say 6-9months mine a bit
more maybe get utils on house paid a few months.....hang out in bitcointalk.....(was gonna put up the old game server out of boredom
this at least paid for elec I thought)...something to do.......my expections we're modest (and now have a reset to that frame of mind ...er by force but a reset)

then of course everything went nuts and it became "more then a hobby" ..ie I was confused (still am)...the heady heights of 1200usd per btc.....don't ya know

will have probably 30-33 coin by the end of this year....so will hold and see where it goes ...have a 2 neptunes on order from knc ..but have
the option to cancel before shipping (hedge)...maybe it comes back..maybe not so much...interesting as hell it has been that is for sure!

we are just gonna  have to see how it goes....

have to 'reset' my mind back to hobby mode again (probably less stressful...one never wonders if ones bass boat will ROI as that as a hobby)

yeah denial is a wornderful thing (whatever gets you thru the days ahead)

my 2c worth
Searing

actually it is more like the bull is very very confused! The Bear also. Perhaps the are in cahoots!

well it is 12:06pm in China MONDAY....if things  we're gonna go south even more would we have not started to see stuff (or am I being too optimistic?)

Satoshi was that you just f*cK*ng with us? Having a little joke to jolt things along?   If so thank you it was epic! 

myself ..I just can't see it being that "rosy" there has to be "pushback" from powers that be...vested interests...the folks that like the way the system is setup now via banking finance etc....if I had to guess they will either get on the bandwagon like soonist...or they will make an "alternative ..they will call it a 'respectable" virtual currency coin to replace bitcoin

but in reality i think it is gonna get really really messy...i only will have probably 35-40 coins mining by spring so hoding is not such a big deal...but for those of you with a lot of coins gonna be some sleepless nights (of course I hope it i'm wrong and it is all hot fudge sundaes and unicoins and rainbows....but I expect a major backlash against our "evil" non-traditoinal money xfering ways any day now)

i will now retire with my tinfoil hat and star trek the next gen dvd's (like i know squat)

Searing

er not for any particular reason that btc needs to fall/crash...but why do you say it is gonna go down again ...ie strap myself in....did I miss some major announcement of some new btc fiasco?

well playing devils advocate if the rumor is true and china bans exchanges and only allows person to person transactions internal to china by the 1st of jan as the rumor states

just how low do  you think bitcoin would go? 100 bucks?

(oh well switching head back to hobby mode if this is the case....what the heck what I have invested in miners would just sit in a bass boat on a lake collecting algae anyway)

Searing

appropriate music to listen to while you watch china crash..soggy bottom boys man of constant sorrow

(hey I'm holding my 31 coins and still mining...but just saying seems an appropriate song to lament my loss of paper wealth is appropriate!)

http://www.youtube.com/watch?v=jsdCpqPs_UI

appropriate music to listen to while you watch china crash..soggy bottom boys man of constant sorry

(hey I'm holding my 31 coins and still mining...but just saying seems an appropriate song to lament my loss of paper wealth is appropriate!)

http://www.youtube.com/watch?v=jsdCpqPs_UI

Silly noob that I am with my 31.5 coins mining with a knc Jupiter since oct 18th when btc was 150 or so....with 2 knc neptunes on order (20k plus) well...gonna ride it out and probably keep the neptunes (could get a refund I guess..but what the heck it is only $$$ sob)...anyway either I'm in front and leading the ass or I'm at the rear looking at the ass ..it is definitely one camp or another I guess no inbetween I guess I'll find out the middle of next year which end of he ass I'm at! (damn I got big ones for a noob....gonna go in a corner and curl up around pillow and whimper a bit now on my "paper wealth" loss ...so fleeting!

Searing

fat chance I have 2 neptunes on order supposedly I can still cancel..but then again where is the fun in that (again my idea of fun and btc may need some adjustment..this whole BTC stuff has all the desire and angst of being in a real life version of the movie "fight club" at least psychologically!

yeah that was my thought ...dead locked up wheels screeching HALT on any purchases in China as people will probably sell or hoard what they have
depending on how they want to use btc internally

if 1/2 the btc purchase and such was china...well my fear is if say another gov't says hey.....lets lock btc down too! Argentina comes to mind.

yeah unless every gov't starts to pile on that btc is a threat now that china has weighed in...shudder

how? if btc china is toast come jan 1st? ie only allowed to do stuff internally I thought china could block such sites exchanges or anything btc related inet wise?

what I was doing at the 1st of this month

http://www.youtube.com/watch?v=8f7wj_RcqYk


what I'm singing at the today

http://www.youtube.com/watch?v=jsdCpqPs_UI


hmmm.........euphoria to despair

man and I was so bored last summer before btc too

China pulled the plug on bitcoin.............more or less .....

its the power of the gov't (china) to kill bitcoin that is putting people ill at ease...the next country imho to do so will be Argentina...

was bound to be pushback too many countries have vested interest in the status quo and fiat of their country

bitcoin is a threat to communist china and their control of monetary policy ie squash bitcoin

anyway I'm holding ....we will see how it shakes out next spring/summer (ie am I leading the Ass down the road or am I looking at the Ass ahead of me...only time will tell)

frigging too much excitement now in my life with btc

Searing

well I started mining on a knc Jupiter on oct 18th with bitcoin at 150usd or so. then  and ...it is dec 18th today guess what
goes around comes around was nice "paper wealth fantasy " while it lasted with my puny 31.5 btc stash..and dreams of mining glory...

(now have 2 neptunes on order to punt or not to punt them....groin is starting to hurt from brass balls effect...figure I should hold them
simply because I'm stubborn)

hard to walk ...make musical clanking noises (of course I can whimp out at any moment I'm fickle) (clanks off in the distance)

Searing

well you can do what I do and run around yelling FML and wave arms..that seems therapeutic as well.....but yeah probably buy is the mature choice

ah your lite happy mood is a boon to the other doom on here.....keep up the optimism ....
you don't want to be like the rest of us on here all Armageddon and all

here we all are in spirit....gloom despair and agony on me!


http://www.youtube.com/watch?v=zvU4CC6s2e4

oh I can afford to lose it...just coulda got a bass boat instead (probably all the same deal in the end except the boat rather then sink would just accumulate algae on the bottom)

I'm in that boat with 2 neptunes..."supposedly" with knc I can cancel before shipping...being stubborn will probably just ride it out till spring/summer
then see if I am wearing a tux or down to my shorts then

ie Europe is waking up USA soon to be next likely be around 250 usd at best imho at least for a bit (again I know squat)

whats the saying in life you should "plant a tree" write a book...make a fortune lose a fortune ....well at this rate I just need to write a book

ack!......cough sputter......if it is in a poll it must be REAL it is not a DREAM ack!

sorry guys its all due to me...I got a knc Jupiter on oct 18th and btc was around 150usd and now it is dec 18th..and heading back home it seems.....I jinxed the works......story of my life.....

frigging "voodoo for dummies" book boomeranged on me it seems...

(er oops)

Searing

er looks like they are awake in Europe huh

another couple hours this may repeat in the states

well if china really was 2/3 of the bubble I guess this makes sense  blam...poof 2/3 goes by by

all we need now is a few more finance ministers of some countries to chime in on all this in a china like manner
to really supercharge it downward ie argentina, more definitive bad china news and the pundits in the USA

man it is not gonna be a fun day

Europe woke up

in a few hours usa will wake up may repeat

again I know squat imho this is likely gonna be a long day

er nobody from the freefall imho

had a thought it is not possible that pehaps BFL and Josh have somehow overthrown CHINA  I mean before this point I thought only
BFL was capable of such epic bitcoin disasters.....


but then again my monarch is now worth even less assuming I ever get them from my forced upgrade (no refund) bfl fiasco

hey they musta had a hand in this right (get the pitchforks i'll get the torches)

Searing

hmm..gox is back to 565 from low of 480

hey if it yo yo's back to 900 I'm gonna be completely flummoxed on all this

no I thought btcchina said it was temp but what would you say.......china gov't has be careful to squash it in stages so people can get $$$ back..but the trend seems to me to sit on btc
and if not outright ban it make it no longer desirable to use esp as a way to move currency overseas.....probably next step is to lock out foreign exhchanges via inet like gox ...my be symbolic only but will tell the Chinese folk trending towards bitcoin that the party is over and they will probably move back to real estate or other endeavors that china gov't is more comfortable with

again imho

no it is squashed in china imho..the only hope is usa and Europe pulling us out on the idea of cheap coin (or not shudder) imho I know squat remember

ditto.

yeah.........they are just allowing folks to get their cash out before they close down the exchanges imho

just doing this in stages imho

er I'm a noob I assume that is crummy volume or not?

whoo

668 usd on www.mtgox.com go baby go

(I don't care ..slow ..fast.... crawl you btc crawl....(er slipped into drill instructor mode)

Searing

speaking of economics or more specifically "economists" have you heard of any "prominent" economists (as of like 6 months ago 90 percent against bitcoin) anyway have any "flipped' their position so far on bitcoin or are they just lurking....anyway I'd have thought some well know economist would start the trend against  the status quo but then again what do I know of economic academic infighting?  Anyway....I'd think some people in that field would be doing a "re-look at bitcoin".

myself that seems likely if the slow realization that btc china is gonna be toast and no work around for getting Chinese fiat deposits back...by the time jan 1st comes around it should be clear if btc china will continue to exist in a working manner ..with that I can see best case it at 500 usd...best case (er after some turmoil) but would be nice if the 750 we see now has already written it off and its been accounted for in this price....anyway my 'guess' I know squat....(always best to have you expectations clear so when they are 'squashed' you can have that pure clean picture in 3d clarity of "hindsight" .....(silly humans ....the ferengi of primates)

don't get me started my bank took 4 1/2 hrs 2 bank managers and a teller to send a wire xfer to knc Sweden USD only....and they still screwed it up!

the bank has an automatic computer switch up the line that AUTOMATICALLY  convert it to the country it is going to currency if the conversion is
advantageous to the bank via usd to say Swedish coin xfer .this of course was unknown to the people I dealt with they said sure USD only no problem

so it hit a USD only account in Swedish currency

and it sat for 4 weeks and no one could find it ..the Swedish bank expected it to bounce and come back to my bank then to them in USD the American bank would not do
that because they made a few bucks on the currency conversion..ie it never showed up at KNC finance dept...massive panic on my part and confusion
on knc's part ..thank god they actually believed me (probably due to previous instances they have seen of clueless banking also sent them a pdf of my wire xfer info on email)

with www.kncminer.com help it was resolved after a month of pain....and they let me KEEP my place in their first order que line as paid
and I have 15 pages of email/reply thread to get this resolved..they could have easily just kicked me to the curb and said too bad your bank
screwed up you are on your own..they did not do that ..very impressed I am!

so after all this bitcoin HAS TO WORK...I mean this was a mess (bfl would have let me sink and figure it out on my own)..I mean what a zoo!

anyway just a warning to usa bank users ...this is a big bank trick (in my case TCF Bank) went to the small local bank and resent took them 10min
and was a big yawn went out in 1hr was confirmed 12hr later ..they actually knew what they we're doing went straight USD with no issue...

when knc staff came to work ...viola it was there and my orders now all show paid with no loss of place in line from xfer (when this initially happened
on the email to knc I did a copy of the nov wire xfer attempt as a pdf to the email...so they could see it was really lost and did exist ...for anyone in a
similar situation)

needless to say my commercial banking  has all moved to this small bank (Voyager bank)

anyway....it was quite the clus*t*r**k..it is all resolved now.....makes me wonder if wire xfers are this bad in the USA what are they like in some
of the other countries (shudder)

whew!!!!!

sorry if off topic but figure the above is important to anyone doing wire xfers in usa

Searing

yeah if btc china is really toast ....it will sink in a day or two after jan 1st 2014.....then if we can stabilize at 500 usd coin I'd be thrilled

that is a lot of folk to yank out of bitcoin at one time (unless there are alternate reasons or ways for them to use/move btc I'm not aware of ...noob that I am)

Searing

yeah me too.....if this whole BTC thing does not work out...the virtual BTC coin will take up less room then the Cats would in my retirement anyway! (win/win)

Rally! hmmmm  I'm confused ...the ways of btc movement are a mystery to me!

yep...and we're back up from 634 to 700 for no particular reason that I can fathom (hmmm digs out the voodoo for dummies book looks for chapter on bitcoin...ah yes the gerbil entrails gambit..that would do it)

yeah 50/50 the motley fool site calls us all nuts if that helps tip it one way or another any....(avast!..... my fellow lemmings the cliff is that way -====>)  

yeah....should figure out how paper wallets work.....nice and get them laminated for protection.....get a safe deposit box...so pretty...(my precious)
then if it all goes poof I can stack them next to my 'stamp collection: Stamps of the Earth of my youth.....be right up there with the
now defunct 'east Germany stamps" and USSR stamps...there you go ...there's a plan...

on the other hand...if this stuff works ..the above greedy bas*rd plan will be considered genius.....either way the BTC is mine I tell you mine!

(wanders off scratching crotch mumbling my precious to myself)

Searing

yes the ways of china are a mystery to me.....hmmmm.....(or else I missed some china info somehow?)

had a dream the other nite that china powers that be said " we changed our minds and btechina can take china fiat with proper controls" ..er then I moved on to other
parts of the dream or whatever...

boy imho the market really wants to go up...that would blow the top off (hey I can daydream)

heh I can see the powers that be coming along jan 1st and saying they have reconsidered and "legit" exchanges can get Chinese $$$
xfers....with ID etc etc like the USA

not likely...but could happen

what is more likely imho is the powers that be in china ...stay the course on btc they have now expecting it to fail..then they do
the above 're-think" 4 months from now

but what do I know?

Searing

I wonder if the market is not steady and creeping up is because of rumor/hope in china of the easement on china $$ xfer to 'legit' exchanges

note here
http://www.wantchinatimes.com/news-subclass-cnt.aspx?id=20131225000091&cid=1102

something seems to be keeping the boat afloat and "themed" for takeoff....just saying

yep jan 1st ...china powers that be continue with policy of no $$$ alowed to flow into china exhanges....imho if lucky coin stalbilzes at 500usd maybe?

yep jan 1st 2nd possibliity.....china powers that be in consultation with the 'legit' large china bitcoin exhanges have a set of rules /hoops to jump thru
to xfer china fiat into exchanges again..like the usa ....ID......keep track etc etc

2nd possiblity....BTC is gonna go up like a 'rocket' and we will look very "brillaint"....

so yeah 'musical chairs' chinese edition....common guys ..suck it up...act like a "communist! damnit!" /...power to the people and all that?

chump or champ .....it is always chump or champ with BTC never in between

Searing

imho people are acting on  "rumors' that jan 1st china will reconsider and have "ways" to get fiat into the "legit exhanges" ie jump thru some hoops like the usa



(i wish) so it is less an 'anti-gravity" device more a 'holiday' hope and a prayer imho

heh..just looked at the clock....2min past midnight here CST...heh FML was on bitcointalk here...sigh

then again at work so it is probably a wash....

happy new year to you it all and may bitcoin rise at the same rate it did from jan 2013 (what was it $13usd? to the 825 on www.mtgox.com it is jan 2014)

anyone with math figure out what it would be at same rate by jan 2015..i want to know so I can have a mini btc woodie.....

anyway may bitcoin thrive even more in 2014 (it better have my a*ss hanging out there in equip and btc like the rest of you foo....er I mean enlightened types)

Searing

strikes me as a desperate work around on getting fiat into the exchange...not that he has a lot of choice...imho that backdoor will be shut down within the month by china authorities

one of two things either china will place controls (more) on putting fiat into BTC

or more likely imho

continue to 'save face" and keep it locked down in this manner ..and that includes work arounds like are on the above link


unfortunately I think the later continued 'clamp down' is more likely but I hope I'm wrong


Searing
 

ack he's not in back he is in the FRONT (its a trap!) ack

yep doing that me and my measly 37 coin mined since oct 18th......

if this don't work the paper wallets will go on the wall behind the shelf where the beanie babies sit....as a life lesson....

(this better work that would be embarrassing as hell to have that shelf up the rest of my life)

all in all going into paper wallets (as soon as I can figure out paper wallets...)

sigh bitcoin makes my head hurt

Searing

that would be nice touch I will add it to the 'dread and delusion" part of my mind view of this evil shelf......shudder

Searing

i have chartbuddy on /ignore.....some days he is sunny and happy and up other days he is grumpy and down

can't handle the drama

so i put him on ignore

Searing

hmmmm...chase ceo   (bank firm) says bitcoin is a scam.....hmmmm....why in the world would any one be surprised by that viewpoint from them?

decentralized power is always a problem to those who have centralized power  (just ask AT&T)

hey it is the NSA they are gonna say...."gotcha" do a big crime sweep.....sorry little guys.....you probably we're gonna cheat on your taxes anyway...and "poof it all goes"

yea....i am exciting ..my life is never so boring that I feel the need to "clean" yea.....

(i feel like james bond now ....oops on this thread...there goes that buzz)

Searing

Well you'd think this bit of news.....even though it was said 1 month of so ago...would have some modest impact
now that it is official today

http://www.theverge.com/2014/1/31/5364406/bitcoin-miners-investors-not-regulated-fincen-ruling

bitcoin miners for personal use and bitcoin investors in the usa not reguired to register as money xfer services etc etc

hey it an't much...but it only become official when it hits the regulation books and is printed....ie nothing was changed since last month

anyway at least that much is locked in

(grasping for straws here is likely...oh well hopefully on less thing to think about hitting the skids with the regulators at least in usa.)

Searing

ok..noob question...likey a noob question of too much balls and no sense...but if you are thinking like me (this is a panic) and it will bet resolved (tech issues and mtgox issues) and stabilizes...ie you plan on holding  

question 1 "can you still buy from mtgox with fiat for bitcoin...or is that shut down" (again I intend to hold till .....even if it goes to $2 beanie baby money....(damn it I'm stubborn) ...so if I plan on holding long term thru this anyway....why not buy on a discount from mtgox (assuming they will let me buy btc yet)

or

question #2 this is a really really dumb idea cause mtgox is gonna go under and default and I'd lose $$$ or btc (from my point of view the whole shebang would probably die btc wise so wtf buy from mtgox anyway

ok be kind I'm  a noob if my ballsy projections are accurate.....(big if) is there anything wrong with the above

again noob...so show me how I'm wrong/right or you just plain have no clue

(this frigging bitcoin sea..no idea where the coast is ..the fog is too think...but waves are large...and I get seasick looking at the price drop on btc ...woe the btc seafarer)

Searing

my only bitcoin is thru mining...so I'm covered if it goes down to 150 btc.....as far as intitial investments etc

looking to gamble


again noob likely clueless

Searing

ah but do they process you order on the time you ordered ....ie that bitcoin price...or do they wait till it clears?

if the $$ sit for 2 weeks then yeah bitstamp makes more sense I guess

Searing

hmmm theres the rub...if you drank the kool aid on Bitcoin assumptions....then anything under $1k is a deal in the long term..i should get
some balls and buy big time.....esp at these prices.....

hmm......or at least if it all blows up go out with a bang so to speak


Bitcoin 'all the drama of a korean soap oprea"

Searing

if you are gonna buy long term hold is there any reason you'd not want to buy from mtgox being 150 bucks less...ie you have no worries about cashing out
and/or getting btc out at this time...

I mean at 150 bucks less a coin and you intend to ride this out till jan and beyond as a hold strategy

whats the diff? is there a down side?

besides waiting a month or two to get btc out maybe?

noob question here sorry

at least on trading I'm a noob

Searing

well reading the post or two above here....they say mtgox keeps the coins and folks can't get them out....er i mean how long>?

it it is a couple months no biggie...

if they are so mucked up it is 9 months or some such the exhange itself will go under imho

how mucked up is gox and how likely is it to go belly up vs just mucking along like it has been in the past dribbling out your btc ?

curious..if no one has a clue well thats an answer too i guess

Searing

Well imho bitcoin is really tinker bell....if you believe in faries (ie bitcoin) then all will be well..because we are really .with the bitcoin setting the virtual land that is the price/platform that the 'transaction method of bitcoin world wide is based" at the beginnng and just world wide scale say if ebay takes it etc...will blow the roof of (if it survives)

so you believe in faries;....bitcoin will be really really big just from the amount of tranactions and seemlessness of moving purchasing stuff w/o as much security concerns around the world

if you don't believe in faries...er i mean bitcoin...then it goes boom ..in which case i am going to take my colorful paper wallets use them as wall paper behind a small shelf ...that is decorated with tulips and put some bennie babies on it .....as a life lesson ....good choice i likely need some humility ...then i'll probably trade gold/silver...would be less stressful then bitcoin i'd be well prepared imho

see....back up plan is set.....

its all or nothing boys....news media is always gonna want it to fail..that is what sells news these days. ...you an't seen negative yet..if btc ever hits like 3k a coin...and a lot of people who missed the boat wise up..it is likely to even get more brutal with all the hurt feelings imho

again the only thing that stands between bitcoin and its demise is if enough of us during the rought times believe in faries....er i mean bitcoin and stay the course

anyway...if it really really works (really really well will be the investment payout) or it don't (another bad or ill fated investment)....but the potential for what i have in it vs my usual ill fated investment choices is so LARGE ...i'll take the risk....i can eat an ill fated investement .i'd likely be more messed up if this works and i decided to buy the negative hype and jump ship

whatever gets you thru the day

sorry in a whimsical frame of mind

Searing

yeah i've had that thought...if i ran google ...i'd say that i google was creating a sha-256 coin completely open like bitcoin to all on such and such a date no premine and the only thing different about it is google and maybe some other large "evil?* enities are behind it...

so you have a time/date diff at 0 ......off to the races

where would you point your knc jupiter 555gh that no longer ROI's at that point hmmm?

the catch is ..they'd have to probably even more tranparent and open source the bitcoin to prove bona fides

won't happen corp culture can't give up power ...would keep some hooks and that would be seen and doom the coin

but just saying......would sure be interesting

and i agree with you....you got to look at this long term 5+ years....but lots of folk would really really like to kill bitcoin if the press is any indication

(silly masses of people thinking they have some kind of control...i mean really)

Searing

yep that pretty much sums it up ...flip a coin is probably the smart way to call this......

now bitcoin being bitcoin it will likely do the unexpected and weird and just go sideways and stay more or less the same price

its bitcoin it will always go the way i don't expect it to (its a fundemental law of nature)

Searing

again i agree..i'm just saying a large corp like google could put its name behind a very transparent coin...make it sha-256 to take advantage of all that unused
or soon to be unused equip ..no premine 0 difficulty..man would take off like a rocket as all this asic stuff would go to this coin ..make dodgecoin look stodgy..imho

not a lot of risk except you look inovative...and the preswswould go nuts esp if you we're completely open on the coin end..good PR


but the catch is ...would be NO angle for the corp on the above except kudos and PR and some press for 2 months as the coin takes off as people

put their 333mh usb cards back up and mine

but if you have the steve jobs corp mentality of shaking things up to see what falls out....could be a hoot

its a day dream....but a kinda thought excercise ...... man ..that would be interesting to watch


Searing

agree google getting behind the devs on bitcoin 2.0 would accomplish the same from their corp viewpoint again shake things up
that also would work..the truth is if steve jobs still ran apple i'm not sure you woulda seen the bitcoin wallet apps taken off
not a lot of top corp types who would just play with an idea like this anymore...at least the large ones

this same senario would work well for a major bank or even a country to adopt....but it would be because of the
shock value..ie unexpected that a company would get stuff out of such a quest

but won't happen it will take all a corp can muster to just take bitcoin and they likely will always back coins that
have some kind of central control or hooks that benifits the corp in question..

the rumor is for exampel apple banned bitcoin apps because it is gonna push an Imoney concept thru the phones
they can control....

anyway was just a daydream

(dang it thou i'd like to run my sha-256 beast on something after may when difficulty gets to high
hope zerocoin the anon coin stays sha-256 could have a shot....)

Searing

what i find funny about a 'real' zombie Apoalypse is that unlike MOST disasters.....earthquakes/pandemic flu/metor strike to earth etc

EVERYONE ON THE FRIGGING PLANET who has likely seen a zombie movie would know what to do in that crisis

1) don't get bit
2) kill blow to the head
etc

heh......

Searing

i myself expect bitcoin to just sit where it is at......it always does what we don't expect and that is the only option
it will go sideways and we will go crazy with confusion....


it is what bitcoin does

Searing

http://www.coindesk.com/has-company-found-workaround-mt-gox-withdrawals/


this way is real drama buying mtgox coins now at 4x to 1x worth compared to bitstamp

more balls then I have but this indeed is 'speculation'

you are just getting mtgox bitcoin from him in your mtgox account you both are betting that eventually you can get btc out

not sure about this indeed....coward that I am

anyway this is bitcoin price movement and speculation figured it was interesting enough in a "oh my god no way" kinda way

Searing

er don't get the association with the above link ?

yeah you make a good point ...if this was LAND no matter how worthless it is from what it was...you could at least be sure the LAND would still be there...priced at $1 or $1000000 dollars...that is the constant...my bet is bitcoin is gonna survive...no price per coin I've no idea..but if it does survive in the long term it has to go up to something more reasonable imho of what I've put in at this stage...the truth imho is IF it DOES continue in a format people use in even 5 years say..my most dismal thought is ...anything under 1,000 usd is probably a deal on bitcoin .......or it could all go POOF I guess....it is like having 2 choices of land to buy ...on 1 choice of land they will build and airport the other nada....

so same with bitcoin ..if it works ...er I should say continue to work/survive in its manner.....you'll wonder why you did not put more $$ in

if it blows up...well..it will be just another bad investment

myself I put what I can afford into it...cause I can live with another bad investment .....as long as I know what I'm getting into

but not doing anything and having the equivalent of them building an airport on land I did not buy (or bitcoin I did not get as I am now) and I would be unconsolable

thems the breaks you put say 5K in apple computer in 1976 you'd be  a rich man

put the same 5k in Kapro as an example you are out of luck

so if you think it is here to stay imho (most of the time I too waiver) then anything under 1k is a safe bet per btc

if not well you probably an't on this forum to begin with

but the real problem I have is not the price of the coin..is how much I'm comfortable with my modest means putting into bitcoin

right now imho I should look at this as cheap coin (so I'm scrambling a bit ..nothing major...but still scrambling some $$$ together)

so it will go for most of us in the forseeable future....go to 200 a btc....is fine ...as long as btc sticks around long enough to grow and move past it....
that is what makes me scratch my head when I see the silly hairless primates we all are mucking something up like gox or bfl or whatever.....sheesh
silly humans could muck this all up yet....

what the heck its just money right ?

Searing

ah.....as they said in an old star trek episode "That is the equation!" ...it all make perfect sense a bitcoin exchange that works on the methodology of Butterfly Labs..we take your $$$ for btc on the exchange ...we speculate with it a bit for our own use either by the investment of your dollars or bitcoin intrest free for 4-9 months..then MAYBE  we give it back to you at a rate worth dumping on you ....less then when you paid USD for it...with little risk to our bottom line......

well played....well played indeed!

englighted i am

Searing

I need a link to where you shop!

well played...well played....

sigh....all this bitcoin drama makes me horny

Searing

heh...sorry guys btc is dropping not because of the mtgox declaring bankruptcy...it is cause i bought 0.83868613 of coin 2 hrs ago.....(it is always me...picking the wrong time to do stuff)

anyway i'll not do anything else less i break it down farther

Searing (fun hobby huh! all the fun of the aftermath of a tornado touchdown)

no he was doomed when he told the bitcoin foundation that his wallet method or accounting lost the coins
assuming what he says is true...he is an idiot at the head of a corporation that was clueless for years..
so..it is either that or he is an evil genius and will keep his personal fortune via bankruptcy...(ie he really
was that stupid ...therefore blameless in the theft...therefore bankruptcy protection will protect all his
personal assets)

no way that the document circulating killed mtgox....because any document stating he was clueless
enought to lose millions of bitcoins either now or later would have just killed it dead

no one invests in stupid

the sad part is he may have actually been clueless on all this which means by going bankrupt he
will keep any $$$ he cashed out in bitcoin years ago...you can't go after personal assets in
bankruptcy for being stupid and lossing folks btc or $$$ only if your intent was to do harm

so yeah he could walk away in his own unicorn and rainbow universe in a year when this
whole escapade when the bankruptcy shakes out....he will be humilated but likely have
way more money then me yet

the ways of finance.....people at the bottom have no safety nets ...people at the top
have all sorts for the same stupid/destructive behaviors....

anyhow hope i'm wrong ...but likely if he truely was that dumb (likely) he will walk
away from this humilated but still well off

Searing

snicker...snort...lmao....

type in bitcoin china in google search I guess they are buying in at this price there

(hey just what I saw on a google search)

go figure

my 2c worth

Searing

well this is what comes up for "bitcoin china" on google search (I guess the reporter has to make something up to eat pay the bills)

http://blogs.marketwatch.com/thetell/2014/02/28/mt-gox-falls-but-china-is-seeing-a-bitcoin-gold-rush/


Searing

pondering pondering...hmmmm..the ways of skynet are mysterious...which way to go in order to confound the puny carbon based humans....

the ways of bitcoin are devious

it took a little trip about town when you were asleep (the ways of bitcoin are mysterious to me)

Searing

er duh confused on why btc is tanking

(time to hitch up the "big boy shorts" and buy i guess)

curious as to why? is everyone into LTC or something now? the mtgox finding all them coins and maybe revamping.....china (its always china it is always like the murder mystery the butler did it ie china)

thanks (should probably keep up more on this kinda thing..)

Searing

Ack! he is invisible ^^^^^^^^^

my guess too ..but then again you can plot the market by me guessing the oppisite

'

i like them when i buy but  i rarely buy lately so a moot question sigh

er on a postive note if BTC tanks to 300 I still have a Neptune prob 4TH on order ...if i KEEP it and everyone bails (i'm a coward unlikely) ...with difficulty..i could mine bitcoin baby long long time love you btc real good...heh

frigging have to do it for more then a year likely sigh...assuming the above worked ....(pipe dream)....i see perhaps another equip punt coming

not gonna be much need for neptunes if btc hits 300usd and for 6k you can get all the coin the beastie could mine if you had it in hand at the btc buy...

anyway.....half of me says "china put up or shut up..ban bitcoin like russia...see how well that works..the other part ...well i kinda wet myself when china wets itself....

conflicted

Searing

hey it is more a "omega man" dream last miner standing (1960's movie) then reality....but man difficulty would be damn low huh?

Searing

er it is looking more and more likely the PBOC ban is true

http://www.theregister.co.uk/2014/03/28/bitcoin_china_pboc_ban/

this is not good sigh at this rate i won't be able to trade any alt-coin at all in "hobby mode" even and get elec costs covered...

sigh


Searing

that will be a pretty safe bet if he is correct

well i have false courage in the usa due to IRS ruling...after mining gross profits figured i'm at 16k or so gross income...if i sell now that property is BTC according to IRS in less then 1yr it is 43% captital gains on top of the 25%gross income tax i'd pay for the above mining in 2013...not sure if i have to go full fledge 'business' to get equip and other deductions if so there is a 13.1% tax for being employed...now that is if i sell within the year..if a year and a day.then it is 20% on capital gains...yeah you guessed it looking like i'm holding coward or not...

man i knew i was gonna HODL but this is quite the straight jacket...i assumed..(sigh) i could sell some coin this year to pay tax man ..er not so much...or IRS made this retroactive to 2009 all coins you ever mined you supposedly have to report this year (honor system in usa...you honor or they toss you in jail take all your stuff)

oh and no way i can cheat...i had my bank mess up like 4 wire xfers to get my 3 knc miners (1 i kept jupiter other Titan on hold till next  year..don't get me started on bfl wire xfers too over 5k...sigh... with the back and forth signing of 10k wire xfers in and out of the country and all the signing of the paper work  stating i quote stuff over 10k in usa (this wire xfer is not being used  to avoid usa taxes by moving money overseas" etc...each wire xfer over 5k is looked at..including the 4 or so that 'broke' and had to be re-done...i hear alarms going off at IRS hdqts as i speak of the money sloshing about on those forms....and of course only used the 1 blockchain address (I know noob)...in my defense i made that amount from sept 18th till dec 31st..not  like i had a lot of time to figure stuff out ..considering my tax lady ..and congress said if i held the coin no tax till i spent it..heh right...

not to mention bitstamp/mtgox/bitcoinbuilder/coinbase all having my drivers license and personal info at the request of the us gov't so they can more closely follow usa banking laws on illegal money xfers...

so to put me back on topic for this thread ...is the fact the price is STILL 450  more due to the above for us USA types and I assume the people in China in a similar bind...figuring the other thread just hide their bitcoin or move it to hong kong..ie our option is to hold it or lose it?

so is this why the price is at 450usd btc...I myself with IRS ruling expected it to tank to 200 bucks along with the china ban on bank xfers..but just sits at 450 looking at me...

anyway.....for 16k ...i'll call myself a small business do it correctly probably end up kicking in  2 or 3k to the tax man

i'm to pretty to go to jail...hope this gets fixed by congress in usa this year with some retroactive options for me from 2013

but man don't have a clue on why it is at 450 except for pissed off chinese and american btc holder going 'screw this'

anyway...we also serve who quiver and hold with our butt against the wall to prevent further adventures

Searing

humming.....

ZOOM ...ZOOM.... ZOOM

(I WISH)

(heh now you are humming it too.heh)

Searing

go baby go

daddy needs a new ASIC (yeah with diff going up like that is gonna happen)

dare to dream

Searing

the guestion is can the recoup as exchanges out of the country or will they just meander down in size w/o china customers...ie a new lower plateau on btc
use/price etc

not that I know just asking

but yeah that is my take on this ...they are out of China now.....

if this applies to BTC MINERS that are MADE in china ..this could get real ugly real guick...

China would not OFFICIALLY  ban bitcoin..but the result would be the same if they go after the btc equipment guys as well

they too would have to move out of the country or close (this is unlikely just saying to scare self)

Searing

Well imho if the exchanges would just say enough already and inform china authorities and outside world they are "leaving china" ..at least a clear path would be shown...
imho always better to walk out the door yourself then be drag'd out...end the drama...clean break

of course such an announcement for the faint of heart could blow it up worse..but if i was running a china exchange I'd be decoupling out of the mainland fast

on a side question are they also (the china gov't) going after asci manufacturer's of btc equipment as well? imho china would have  a pretty good shot
at panic/despair and hurting bitcoin if they went after the equipment makers as well..

it would be like fine....you can make the equipment but only can sell it via direct person to person bitcoin..no way to sell it via fiat

man that would suck

again i claim no knowledge on this just speculating how far will the china gov't go w/o saying outright ban

Searing

I'm unclear does all this apply to bitcoin manufacturer's? ....in other words you have a company that 'builds' asic devices for sale ....does this also effect them?

hmmmmm......'train" to the moon....i think i see the infrastructure problem with Bitcoin everyone keeps 'hinting' of

Searing

 

ROFLMAO

Hallelujah! can I get an Amen! (agnostic thou I am I'll use what I can to get bitcoin price up...shameless)

 

like the way you think .....I mine in the USA I hope the only problems I have is how to pay IRS their 25% share of 'gross mining profits"

did not have to pay any taxes last year cause they had 50% off equip depreciation in 2013 (likely will be same in 2014) then standard depreciation according to my CPA

the IRS Guidelines 2013 of bitcoin as property ie/land (crap i'm a farmer)  thus the equipment option..

and before people jump on me why I'm reporting ..did as a newbie KNC wire xfers (no btc)

bank screwed up 6x and did a total of 4 to knc refunded 3...and kept 1 (titan) ...so each time in USA you sign a paper over 10k wire xfer you are not xfering money

for criminal activities..with that much paper floating about decided to fess up after the guidelines came up (had like 20 days gee thanks) do my btc taxes legit

via amending my taxes for 2013...so you guessed it

anwyay bank did come after me threatened to tell feds...went down with 'legit' taxe forms done on bitcon 2013...showed it was their 6 missfires on getting the wire

xfers out ...and avoided a LOT of pain with the IRS ..(sometimes it is good to be paranoid!!!)

so anyway if what you say is correct I likely need to buy MORE  equipment.....sigh...hopefully the rules will change back next year

anyway..if BTC even stays at 500 bucks should work out for me...if it hits 1000 bucks btc....equip buying again here I come....

FML

Searing

volume..heh....everyone has drunk the 'kool-aid' and is 'holding'.......this is them buying more bitcoin...

now only if we could get more newbs to drink the kool-aid!!

Searing

not sure..with all the 'bad news" in the last few months ..maybe people did not buy due to that ..ie the price was repressed below what it may have been as a base if the news had not always been negative...perhaps this is a blow back and upward to correct (hey i can wish)

anyway may surprise us

heh..your funny

well as an alt dark coin has a hook anon coin (or kinda sorta as they say)...I'd woulda liked
to have seen zero coin as sha 256 and the announcement no premine gentleman start up your
cpu's/gpu's/fpg's/asic's the mad scramble to the attic for gpu parts would have been a hoot

worked well with bitcoin ...lets revisit it again

but w/o some kinda 'hook' like anon coin ....true or not a good hook...the alt-coins are all
kinda the same

damn wanted a reason to keep my 555gh jupiter from knc running past august..oh wait 2k coin
will accomplish that nevermind

Searing

is it me or is the choo choo'ing volume a bit low (i know i know i'm jinx'ing it) or am i missing something obvious? (likely?)

Searing

Hmmm.....

Hope China is not on another 'binge' and 'barf' ride......

its like a flashdance for BTC....a whole bunch of people appear and it is loads of fun..then everyone goes home

Searing

does that mean some one is gonna make a sha-256 alt with like zero cash (anon) features (was formerly zero coin) so I can keep
mining my knc jupiter 550gh unit..cause I like the little beastie?

*frack the logic worked with us silly primates with GPU someone go for it*

Searing

frack if it is gonna take off like rubber ball bounce shoot high 700.......(silly primates)

going up lunch time in shanhai don't ya know

I want your 'delusions' they seem pleasant please post here so i can 'copy $ paste them' with my 'tinfoil hat usb interface"

thank you

Searing
 

What will happen if gox liguidators just dump all the coin on the market at once (could happen it is a gov't)

would there be enough demand (ie cheap coin) or would it be like throwing an anchor in a rowboat...ie way down till demand for coin catches up

thoughts?

(again these are japanese bureaucrats...they could just keep their job safe and dump it all on the market ...quick/fast/dirty like a regular

gov't auction

Searing

good point I overlooked the 'legal' aspect of the coins...all on the up and up so to speak....might be attractive to a person jumping in from the 'regular?" investment world (wish those guys would get off the fence already)

Searing

ack! what!!!!

(scrambles to google)

you jest right?

Searing

The bitcoin info network was just 'digesting' the snack the Fed's offered in seized coin

(heh not sure how to tell but i'd bet China took more then 1 piece of the pizza (damn it!)

Searing

yeah imagine if 'mark karpeles had GHash.io!....it is a 2 part process....1) have the capablity as  a pool to muck up and fork the network

and

2) have 'someone' dumb enough to try to 'game the system' and flush the bitcoin network down the toliet when he messes up

again look at GOX a money makiing machine if ever there was one..and he still managed to flush it

Searing

ouch!

heh Ghhash.io % goes down and unknown % goes up....crap games being played

Searing

hey I saw that show....we need to stop him from using the computer in the bunker..you then go 'back in time' which would be really really handy for me starting to mine with a CPU then don't ya know

er found this Ack!

http://www.enterthehatch.com/

Searing

er an that is different from the 'real world' how? (sorry being socialistically  cynical at this time of the am)

must admit thou in the bitcoin maket place there is no subtlety at all ...just blam whale movement! 

Searing

If you are a large mine in the usa you have to miner to usd directly ..as you mine you sell same day...if you hold coin you have to hold if for 1 year and 1 day
or pay 46% capital gains if before and 20% after (usa considers btc property this is to stop 'speculation' like with land)

thus if you mine 2 btc a day and sell it the same day w/o holding..you have no risk and your accounting is correct ..at that point if usa large miner
you are 'supposed' to pay 25% on what ever 'gross income' you mine day by day

so they may get coin but they will only do so after the above and buy what they think is prudent after the above

small miners (that are legal) will likley play the odds and hold coin over the 1yr and 1 day to get back (if btc rises) the tax they paid by 'mining' in usa

hopefully this is fixed in 2015 (it is soooo dumb) but not till after nov 2014 congressional elections is my best guess

so it MAY make a bit of sense to hedge with some mining equipment if you are a legal miner because of equip depreciation etc

but otherwise if you are a big time miner I'd be looking out of the USA (say Belize? not sure) some country that just wants your $$$ local w/o
the above hassles

Searing

the ways of bitcoin are mysterious to me.....(thus not a whale)

very interesting

Searing

that or talk on the 'whale thread/pipeline/skype or however whales talk to each other'

it came out that a bunch of them LOST the auction (or so they think) by bidding below $600 USD ...

and that price did not cut it....

that too would make all this go 'nuts'

Searing

er it just 'popped' in my mind that the folks that 'won' the auction could have now looked at what they paid to win it
vs what the current price is...and figure with the announcement...it is a very very good time to buy...that would be 'devious'
would make 'some sense' if some of these folks were from China it is like 3:20pm Shanghai time by the by

just another guess

Searing

Some of it likely in USA is 4th of July is coming up as a major holiday..people may just not pay attention till to much of this till next week..if all this has 'legs' and is still
stable around 650 price next week all 'heck' will break loose imho (prob mentioned on here already but www.newegg.com is now taking BTC)...would see a 'pop' then imho.

Searing

that is an idea.....buy bitcoin on coinbase...hope/wait for next rise (the usd you bought btc for at least mentally was for the old say laptop purchase on newegg) ...bide your time...

viola ..you have taken the usd you would have paid for the laptop on newegg.com but you waited..if really lucky btc goes up 1/3 on this set aside usd for a laptop..you make a killing

(too much planning)

but hey it is possilbe (if you are all like us and believe btc will go up ) kinda a btc 'faith/growth' kinda deal 'washing' your USD you'd use to buy laptop anyway in more valuable (hopefully) btc when you pull the trigger and get it from newegg...call it "get a coupon for ??>?  off via btc timing"

again I impulse buy so it won't work...for those of you with OCD it will work just grand......

Searing

er only works for us in the 'bitcoin cult' that have drunk the kool aid and are waiting for the 'bitcoin mothership" ie amazon and ebay to drink said kool aid

but yeah should probably make the equiv of a xmas fund and treat myself in this manner for xmas laptop ..if BTC stays flat I saved some USD for the laptop
if it goes up ....it will be hopefully like getting 1/2 price (knock wood)

silly hairless primate humans ...we are the reality tv of the universe likely watched in billion of alien worlds....we certainly would get the ratings!

(also explains why they stay far far away....)

Searing

facebook twins show progress on nasdaq

bidder of btc silk road auction comes forward (big into btc investment)

newegg says it will take btc

kuwait oil (dept of some kind) says use btc to pay for oil

BITCOIN DOES ZIP STAYS AT AROUND $645 usd

One small 12 year old girl with a blog in china says that chinese gov't is gonna ban the sale/mnfg of bitcoin miners

and BTC drops to 400 usd


humans are soooo silly

Searing

you have soooooo drunk the bitcoin kool aid....step back away from the asic ledge...don't jump...damn he is lost to us...will tell the wife you are now in the 'btc cult' shudder

Searing

sell? then buy back more coin ..ack...retreat....that could end badly for me (have the attention span of an anteater)  Ack!

I simply am gonna hold...shoulda as a newbie just bought coin rather then miners but hey have coin....so whatever floats the boat

imho BTC is gonna 'work' in some kinda world wide manner as expected or die a squishy death in small doses in a dribbling demise....as fads do (shudder)

my own 'worse odds' is that the odds of Bitcoin as a mechanism surviving is 65%/35% on my gloomy days..was 50/50 imho in 2013.

so it is not a manner of HOW you get bitcoin but a matter of HOW MUCH  bitcoin you can manage to get/buy/afford within the coming few years and hold!

to expand on that also

so an't how you GOT the btc it is gonna be WHEN you got the BTC if you look down the road and are betting on bitcoins success (drank the kool aid)

so maybe after all this drama of BFL / KNC Jupiter 2013 (yea?) KNC Titan on the way (no frigging idea on that choice..prob get a box of parts dumb)
SP 30 (Sept) er duh 2600 watts of heat in bsmt DOH! anyway me thinks the consumer equip train is gonna roll to a stop by 2015 ..from then on it is all gonna be big PH farms etc

so probably should just sell crap in the attic for funds and play more modestly with 'www.coinbase.com after the first of the year....more tranquil/less drama...

tired of the drama gonna hold what I have...maybe buy  itty bitty bits of bitcoin in the future or itty bitty miners that won't roi for giggles..BUT... the age
of me dumping 8-17K on miners is LONG gone ...I can't really see dumping 12K on a machine say dec 2014 that only makes say 6-7 coin mentally I will not
be able to get around that in my head..the jupiter 550gh knc unit last oct 18th started mining at 1 BTC a day...to big a mental lieap...

so anyway timing selling btc buying btc etc....as they say I'm all in on what I can afford HOLDING ..hopefully bitcoin as a movement will continue
but selling BTC to get more BTC with market games scares the bejeebees out of me....I do not need new methods to flitter away BTC .....so speculation
for me is out...will sit on the crap I've made...play with coinbase...assuming my long view of BTC is correct..this will also work well...

(my 2c worth..not that it is worth that much)

Searing

how is anybody gonna tell my BTC checking account at my local bank (has BTC under my name er that may be a clue)  (just a reg checking accnt so i can save 70 bucks a year in fees
and not be a biz check accnt....thus can you add BTC under my name before my address above trick) ...have a visa biz card attached to such....use www.coinbase.com or whatever

except for me for convenience  using the BTC tag on my checks (which you guys may want to avoid??) how the hell would anyone know you are trading BTC vs just other stuff?

unenforceable unless you break law imho

it is like the 'fiat hard dollar" version of 'abstinence' as a form of birth control....unworkable when passions get 'high' heh

Searing

yep 4 items of good news this week nothing moves

1) guy that one the auction is gonna use it in 3rd world nations to promote bitcoin in countries with weak currency

2) the facebook twins move farther along with ETF on NASDAQ with the symbol (coin)

3) newegg.com takes bitcoin

4) US Marshal's office shows legit bitcoin worth with a sale of 30000 bitcoin at around 19 million dollars


the  market just sits and does zip neither rises nor falls

1) EU banker memo on that banks should avoid bitcoin till more regulations

blamo...drops

( we should really pay a consortium of teenagers in China to blog rumors like 'China is gonna stop fiat xfer to all asic manufactuers in China"  we could play the market like a yo/yo

yeah sick of it too....feel played

Searing
 

well maybe I'm nit picking but man that was 4 days of really really good news imho ..kinda stayed flat after it all settled out
newegg taking bitcoin and the guy winning auction to promote bitcoin to promote currency in 3rd world did not budge the market at all

the bank announcement by EU on the other hand down she goes

even thou it is not a lot and not that big a deal..it just has the same effect when i see such stuff as fingernails on a chalk board

so yeah I'm nit picking but still would like to see a bit more even handed ness in the news then eh ..bitcoin is OK to the first little
post of doubt the press and the newbies then shout (the press to sell content) PROOF it is gonna go boom and we have to say that
every time just in case we are right....press sees it does not go boom they ignore us like paris hilton would ignore me laying on the highway
hit by a car

grrrr....(maybe I'm taking this all to hard...need ice cream..yeah thats the ticket hard to be cynical about ice cream...DAMN IT no ice cream....crap)

Searing

heh good thing it is not me who won the auction i'd move it around to vanity addresses named stuff wtf screw this in comments

"so she divorced me huh wants 1/2 my btc huh...i'll show the 'bit*ch* and drive btc into the teens"

boy the fun a person could have just moving the coin around from address to arddress and using comments

Searing

(bruahahaha 'evil laugh #3')

last july 1st as a newbie (newbies always order equip....) I ordered a knc jupiter 550gh and btc was $160 I think it was>?
shoulda bought coin..miner was almost exactly 7500 with power supply etc

now for 2/3 the price you can get a spondoolies sp30 in august for $4500 on bitcoin group buy #1 incl shipping for 6.5TH

er shoulda bought coin back in the day but newbie don't ya know

heh...wonder what next summer will bring 650TH for the above price?

Searing

heh this ain't gonna help (although I'm 'hoping' most folk will resist the knee jerk reactions'

http://www.coindesk.com/isis-bitcoin-donations-fund-jihadist-movements/

should not be that much of a shock that folks like that are gonna try to use btc in evil ways....

buying opportunity next week?

yep how i see it too

Searing

It is true ..I'm such a 'sock puppet' for bitcoin....and a pretty 'asic machine' all the whirly sounds...and the pretty LCD lights etc'

frack

I"m a bitcoin slut/groupie obviously need serious help.....must seek out banker.....gasp too late I've turned already! Ack! (cool cape though..like the fangs)

Searing

http://www.telegraph.co.uk/finance/currency/10960012/Bitcoin-price-to-hit-2000-by-end-of-the-year.html


Price of bitcoin to hit 2000 dollars by end of the year guess...(man I really really want what this guy is drinking super duper kool aid no doubt)

If he is correct I will donate something to the local zoo and name it after him...I mean REALLY

Searing

yep that 45 degree angle rocks!

Searing

I'm in the 'last throes' of mining..have a knc jupiter 550gh and have an alt Titan knc miner 300mh
and sp30 6.5th miner coming in august

not bored ..freaked out..not bored

but can't see this next year..my last hurrah in 2015 can only see buying coins..btc coin price goes up
or the balloon will deflate imho incomparing price vs difificulty

besides you pay an asic mnfg company these days they likely will use your $$$ for 5 months or
more or less as a loan or use your $$$ to continue to expand their word class PH farm


Searing

not sure what to say www.dell.com says they are going to take bitcoin nothing changes

a 12 year old girl can get on a blog in china and say china gov't has documents saying they are gonna ban the mnfg of miners in china

and btc drops 100 bucks

go figure

Searing

whoo who...

well with no or little volume..everyone hoarding btc including whales on anticipated next rally....and only a certain speed of newbies or adaptation
in the real world to encourage demand or crazy btc'er's like us to further buy/mine and hold and crank the cycle around to the next level

it likely is gonna be a big 'yawn' for a few more months imho

seems we have hit a bottleneck and thy name is "bitcoin acceptance/expansion" of course it is hard to do with all the press/and claims of FUD
and every day the prediction of BTC's ultimate failure in order to sell papers or make $$$ for your network etc

yet BTC still chugs along (just not at the speed I'd like)

guess it makes sense it is universal among the 10 people that I told last fall and now they asked so I told them how I'm doing this year with BTC
they still think it is a big ponzi scheme scam and I should cash out....they cling to the belief it is a 'bubble' 'scam' because to admit otherwise
means they missed the boat when I told them about BTC last fall....that is an unacceptable deflation of ego if BTC fails would be an ego  boost.
cause they 'called it' as a scam....so denial has kicked in imho...so I will shut up about it till they ask another 1/2 year from now on my BTC hobby
(poor deluded fool that I am in their view) maybe if BTC is over 1K by then I can get them to admit it 'might' not be a scam...

man I hate these negative BTC headwinds by the powers that be/press/media etc

anyway BTC is still  plugging along ..but we may sit imho at between 550 usd and 650 usd for quite a while maybe as long as Oct 2014 before
enough acceptance/expansion happens...to make the price stabilize at a higher level again just in a poor mood this week with above...so take
this with a grain of salt..

what do I know just my pessimistic view over getting beat up on bitcoin by the above family/friends/co-workers etc that I tried to tell about it
last fall.....the consensus in my small world/group has not changed..in fact it seems more hostile...again if I'm right they all missed the boat

somehow I am pretty sure if BTC hits 2k it is all gonna be my fault I did not convince the people above to get some BTC last year or this week

so it goes I guess

Searing

Probably glaringly obvious to the folks on this thread

but this chicken and egg problem as in the link below is what has me scratching my head

we need Ebay to say they ARE going to take bitcoin within 3 months or some such to break this sideways price logjam

but then again.....I know zip ...but this article is pretty much how i see our sideways..price....situation right now

maybe that is not such a bad thing? comments?

http://blogs.wsj.com/moneybeat/2014/07/22/bitbeat-bitcoin-price-curiously-gets-no-boost-from-dell-news/

Searing

I am praying to the entity called "EBAY" to announce PAYPAL acceptance should be available in the next few months....(dare to dream big)

Not sure what to 'sacrifice thou' ? token $1 usd bill? (the in's and out's of 'paganism' digs out 'voodoo for dummies book' hey used it on BFL got a refund!)

Searing 

heh I myself (as a bachelor) think it is due to 'Wife agro" ..you really think that she does not keep track of
trends and price on your 'hobby'? It is 'fake' disinterest....so when push comes to shove..you guessed it
......dump some coin for some piece of mind.......has to be that what fool would dump coin below 1K?

heh (ducks don't throw stuff at me in bitcoin talk ....!!!!)

Searing

jeez it is like a 3rd grade playground ....as far as volume...'you go first' no I don't wanna ....'you go first instead'

lots of 'fence sitting' and real life dribbling down of peoples btc for real life purposes..me thinks....slow trickle on low volume...it is painful to watch....

we need an act of senseless/stupid/enthusiastic/optimism.....come on there are whales out there right? we need some waves in the kiddie pool please!

Searing

hmm...everyone hoarding coin..but not getting any more (full satisfied feeling like after a big meal) .... so no volume spending ....newbies scared off or on the fence by
every bit of 'bad press' legit or not that comes down the pike

hmmmm.....treading water in the kiddie pond for no particular reason I can see then plain ass 'fear' ....fear to buy more and/or fear to buy any

wish everyone would just put their feet down in the kiddie pool and walk if they can't get fired up to swim to the 'adult' area of the pool already!

(sorry my analogies suck but I'm tired....of this sideways slide....wishy washyness)

Searing

heh bitcoin ...much less 'precise' on what is going on then NASA but the 'pucker factor' is the same!

Searing

Reality:

Good News: Bitcoin Price goes sideways, stagnates.

Bad News: Bitcoin tanks 10-25%

hmmmmm

Searing

is the consensus on the slow drip downward bit by bit due to LOW use by the masses ie volume....and the fact that
new PH mining farms are coming up and pumping out coin straight to USD...thus the slow wearing down on price?

or just as good a theory as any>>>> or as usual I missed the boat/bus/car/skateboard and roller skates in all the above?

again the above is on the further theory that NO REAL news good or bad of any note....just the above slippage to be expected
if the above theory is right (unlikely just tossing it out there)

Searing

We all know it likely will trickle downward bit by bit with NO real news good or bad one way or another (the fate of bitcoin pricing delusions?)

Just will have to hang in there for the ETF (is that the abbreviation?) by the facebook twins...and perhaps (crosses fingers and prays) that

Ebay..in its wisdom....starts letting Paypal take bitcoin....if we are lucky the BIG INSTITUTIONAL investors everyone keeps talking about on the

sidelines will then WADE IN and if the price is lower then we want ....they will make more of a splash imho

Now as to the question of how long can all this drag out? ...past the first of the year? ..(If so I will go full out NUTS if it is that long)

Searing

I sir hope you are correct....I want my $1,100 BTC price back from last Nov 2013 or whatever ....( i started mining in Oct 2013) to me $1,100 for BTC is 'normal'
anything after that date/price and as 'low' as we see now... I am 'not' fine with......but as a result of my 'exuberant expectations' and my newbie bitcoin youth
I find around $580 to
$600 WAY WAY too low ......I mean really...it ain't bounced back yet?.. .thus i have a 'expectation issue' so to speak..the dreaded....

*pucker problem*

at that $600 usd to BTC price point don't ya know heh

So for my piece of mind...lets see some movement up to that nice $1,100 usd that can be our NEW baseline ..and the newbies of Fall 2014 can deal with their
own expectations/pucker problem from that price point on ....over our 'new' baseline

(Its all about me 'damn it".........)

Searing

heh if what you say is 'true' I will accept the "heartbreak" (poor Searing alas price dropped from 3k to 2k ...the horror)

sure hope your right....me I always pick wrong so punting all this over to others who won't 'jinx' the works

(BTC at 2K I'm all tingly now with anticipation...dang ankle bracelet! (kidding really)

Searing

sigh you lost me trying to wrap my head around THIRD TIME 'So this whale on Huobi.......third time...he bought many thousands of coins...) gasp ack!

makes me dizzy just thinking about that.....(gotta sit down...too much of a perspective shift..thousands of coins...) ack!

Searing

actually...being a farmer is gonna be good this year in the USA....having a gas fired furnace in the EU this winter...er ..not so much


Searing

well maybe this is obvious..but imho it is all the large mining farms that are cashing out bitcoin each day to usd (less likely to hold bitcoin)

thus a slow leak/drain to the bitcoin price boat so to speak..small miners also have to pay expenses so maybe that too usually also in usd

the other part is low volume...adoption has kinda lagged (if you go by news media the attention has lagged anyway)

so you get a position of good news keeps the price we have very minor bad news dumps it at least $20 and the drain of selling btc to usd each day from  large ph farms

cashing out from btc to usd continues....ie not enough volume for whatever reason...and the slow drain to usd from large miner farms imho is the so called 'leak' of sorts

(and just the continued selling and making of more miners) it all adds to imho to this slow drip...down in price....and thus further reduces newbie interest etc

I mean myself and I assume others are holding but I'm not buying anymore...full/fat and happy at the current time..so new folks/investements are need to jump start this again
imho..just not enough of it from what I can tell at this time

beat me up I likely don't know what I'm talking about...

as we sit here in limbo...neutral in good news/bad news..price stagnation

then of course really bad news tanks the price really good news (like dell taking bitcoin) keeps the price treading water....sigh

brighter folks then me on here but that is how I see it....hopefully the ETF by the facebook twins and a nice announcement of Ebay/Paypal  taking
bitcoin (please in star trek talk: "make it so")....this may just go on for more then a few months with slippage each month..the

"bitcoin price doldrums"

my 2c worth

Searing

yeah i've gone from the "you poor fool....this bitcoin sounds the equiv of you trying to get me into amway .ie ponzi scheme" (last fall)

to

"you poor foo....er what ....you made what.......again you made what?.....now I'm in the chilly silence phase..it is just NOT brought up in 'civilized conversation"

my next step in the above (I hope) is

'heard ebay/paypal and the nasdaq (facebook twins ETF fund) is doing bitcoin now ..how to I buy some again?...and WHY did you not tell me about this?
You should have forced me to buy some back last year (denial as a force in memory will be great among the unwashed non early bitcoin belivers me thinks)

silly hairless human primates we are all greedy little monkeys!

but yeah I'm currently in stage 2 above ...i feel the shunned in the manner with my bitcoin choices the same amount as a pregnant amish girl...the experience
imho is similar....would like some action on the ebay/paypal front etc...just so I can get this giant red B that is sewn on my chest off ..tired of being pointed
at with giggles (well it an't that bad but there is a 'deafening silence' from my friends about bitcoin that DID NOT  get any last fall when it was $150 usd thou

whatever this won't matter after the massive alien space invasion of 2015 anyway

Searing

shudder it all grinds to halt with everyone looking at each other...waiting for someone to blink and buy..(er wait...that is what is
happening now)...need something to start this 'stampede'....ebay? amazon? we need your swan song of bitcoin whooo...

Searing

the other side of the sword...BTC as money means that you want to spend BTC more as more places take it.....hoarding is easy
when NO ONE takes the coin.and say last jan 2013 it was at $12 usd a coin

now with coin around $600 usd and all them goodies.....

(Ack! its a trap..the only solution is to retreat into bitcointalk mode no life at all posting on here ...embrace the boredom.......heaven help you
if Betty Bang Bang  with the bouncing double D's finds out about your nerdy wealth ...you will lose all your nerdy wealth Ack!)

(scared myself)

Searing

thats right....go to the grave with it on a usb stick in the coffin...(there my coins damn it! mine,mine, mine...whooo a shiny stone in the driveway)

I'm such a silly hairless monkey primate.....no wonder the aliens fled the planet after Roswell

smart they were

Searing

(ohhhhh ...another shiny rock.......and a stick....)

obvious ...people are not using btc....are holding ...no one new is flocking to bitcoin in the numbers we need vs the folks holding

we could be sitting on this kinda flat/slow fall till next year...

problem with that is consumer mining seems to be drying up as we speak w/o miners as 'cheerleaders' for bitcoin ..as such dries up...just a bunch
of geeks holding coin...that thru FUD and other means press/gov't will make out as fraud ridden...thus less newbies...a world wide 'assasination of
reptutation by the 'vested intrests" world wide.....like China is trying to do with bitcoin etc

this could be long/hard and dismal ..and the more uncertain it becomes and price goes down the less likely them 'institutional investors' will jump in

frigging 'dead cat bounce'

http://deadcatbounce.weebly.com/what-is-a-dead-cat-bounce.html

vs

diffusion of inonvation (acceptance)

http://en.wikipedia.org/wiki/Diffusion_of_innovations


well I'm in it for the long haul..if  BTC goes to $10 so be it.....ride the puppy down in flames....(drank the kool aid don't ya know hard to be us 'pod people')
myself if it stays above $150 usd I'm OK ...below that I'm toast...(pick your own USD oops moment)

Searing

well how many times has BTC tanked and come back (oldsters on here?) 5x 6x ..

I don't count it out..but if I'm looking at best it going sideways and at worst it finding a level in $$ below my comfort zone...into next year....well.....damn it
...guess I need a hug.....nightmares!

and you could be right I sure don't know what the hell I'm talking about off this thread...why should bitcointalk be any different!

Searing

well some people got 'bass boats' and fishing competitions...or waste their $$ on stock cars in stock car races (which they wreck) so WTF someone asks me
if I lost $$$ in BTC ...the damn 'bass boat' sunk.....only lose the $$$ you can afford...besides we can all say at cocktail parties that you and (pick your
venture capitalist in bitcoin) lost our ass..it is unlikely make $$ or lose $$ I will ever have the 'chance' to get in on something of a venture capitalist
ground floor again anyway...WTH ...what I should be doing is selling all my crap in the attic ....on ebay...enough there to cover my bitcoin expenses
otherwise it will just sit their till I die....this way ...sell all that on ebay...if BTC goes poof .hey..the attic can be converted and I have a 4 bedroom
house now!..with property around here I'll make my $$$ back 'on paper' that I put into bitcoin

yep denial is the only way to go now (actually this may allow me panic enough to actually sell some crap...which I should be doing as we speak)

whatever its just stuff/money.....if I can't take it with me at least I should be able to piss it away right?

Searing

you are the man my friend...I myself am sitting in the corner ..coward that I am...
hoarding......I salute your big brass ones!

Searing

er that was disturbing!

Searing

hey i plunked down the stupendous sum of 79.43 or some such at 508.49 usd if i remember right for BTC

just to appease the asic gods with a token...on my bet it will NOT go and or stay below 500 usd (er for long?)

anyway would have prob got a bit more but new to coindesk not validated yet ..what I had left I could buy on instant buy

so I HAVE SPOKEN ....and placed my bet...i have tried to appease the asic gods!

likely I will be 'smited'  and  BTC will tank for my meager efforts and puny amount

whatever.....

at least I made a whale someplace watching www.bitcoinwisdom.com  watching the volume feed 'snort' when my purchase went by!

(good to have goals)

Searing

i tossed in my remaining 79 bucks or whatever allowed on my newbie coinbase account (whoo who) to
keep it above 500 after the dip (got in at 508 or some such)

your welcome..it was obviously my contribution to the asic gods that pulled it up

Searing

anything to this ..margin calls and market manipulation causing the btc to drop so whales can play games?

(yep i'm naive....let me have it ...but got to ask ...)

anyway anything to this as stated by this article?

http://blogs.wsj.com/moneybeat/2014/08/14/bitbeat-bitcoin-price-suffers-margin-pains-dishs-bitcoin-option-goes-live/

or it just the usual with bitcoin wtf is going on is subject to interpetation ....ie no one has any idea

Searing

this place is great...it is like watching a bunch of Jesuits (hold) argue with a bunch of Buddhists (let it all go...liberate your ego)....

heh.....well one side or the other is right time will tell I guess

Searing

er...not brave enough to use the crayons yet to color this in...but still....

Searing

I liked this thread a lot better in the past when prices on BTC would go up like 100 usd on a whim and a dare...and no one had a clue then either on
the where/why/what/huh?

just saying ...nostalgia........

Searing

Well just a warning to all ..I am planning in the next few days to try and BUY $180 usd of BTC ...so I don't spend it on something else
(and it will get me to exactly a tad more then my 50 coin benchmark/goal/fantasy? whatever)

So....you know what that means...the PRICE has to go DOWN DOWN DOWN ..because I ALWAYS buy at the wrong end of the price point

don't ya know

just a shout out to those planning on buying ...wait for me to buy first so that you can have a much better price point!

(I try to use my 'twisted' luck for good....er ..guess I need a cape with my long underwear...if I am going to
continue such a public service)

you laugh....just watch ....the moment I buy....basement warp speed

Searing
 

again I very likely don't know what I'm talking about..but until something pops like Ebay taking BTC or the facebook twins ETF or some other large movement
towards 'adoption' by the masses...there will continue imho to be a slow bleed as the very large PH farms mine more coin and bleed it out to fiat as fast as possible..
it is like a slow leak to a faucet....

So again not that I know what the fu*k I'm talking about...I think that mining and the amount of BTC being HELD on the hope of future speculation/expansion/success vs
the anticipated future pain in the ass difficulty of mining say 1 BTC....again .these are so far ahead of the last leg of the 3 legged stool .....actual BTC useage worldwide
that for all I know BTC could settle down and trade at 200 usd or 100 usd....the level of say usd to btc depends on the above

so.....it is a waiting game you make your bets..if you think BTC is gonna survive as a viable virtual currency..then the only way to play imho is to go the long haul 5 to 10
years...it could plod along 200 -400 usd at best/worst/whatever for the next 2 years depending on worldwide useage/mining/and how stubborn people are to hold..all will
effect the scarcity and that is what the price/btc shows on any given day/week/month/year etc

I would like to think like most here..that Ebay would see this as a world wide improvement with paypal on expanding their customer base (you'd think?) and that the facebook
twins ETF fund would provide a way to bring in NEW institutional $$$ ..but also keep in mind we are one gov't over reaction or one terrorist claiming that BTC is the end all be all
for blackmarket purchases away from another crash and hopefully recover and likely over the next few years repeat that often

so....I buy and hold what I can afford (probably like most of you prob 10% more then I should) and plod along scratching my head.....but again...mining is way ahead
of the curve for the currency imho size wise output wise and probably only going to get weirder.....holding is also probably way out of proportion to the real risk in all this
in a normal market people would panic sell more..in the BTC market where 1000 folks are true believers and own 1/2 of all the BTC made so far...well...that is a nice
if artificial stability we have

but until the little guy with a cell phone on the Ivory Coast of Africa say can buy ..say a sewing machine for the wife to improve their lot in life..w/o having to bribe/deal
with large bank fees and say hyperinflation of their currency.....well...we need that acceptance...ie the ivory coast guy knows he can trust ebay with his btc transaction
and ebay does not need to worry about security/etc cause that is in the coin...when that pop's all hell is gonna break loose imho

but as to when I sit on my 50 btc nestegg like the rest of you and cluck cluck cluck hoping the fox does not show up

Searing

Well hopped on and got .36 BTC at $495.25 on coinbase...... for the sole purpose of popping my cherry to have over 50 BTC now.

Just a heads up ...I always punch the ticket too soon..it will likely fall more...just watch...

anyway got 50 coin now.... managed to squeak (maybe) out of minnow status?

this catching a falling knife stuff is tricky

Searing

last of the big spenders I am.....(swims away minnow like in the BTC ocean.......heh.....)

Searing

well imho too much coin from mining going nuts and from merchants cashing btc direct to usd via bitpay....the consumer side is not keeping up thus the downward drip/slip
as we see in price

keep hoping the facebook twins get their ETF out and that EBAY has a come to jesus moment to jump start world wide sales with bitcoin then it 'irrationally' go zonkers UP
instead of down

not that I know what i"m talking about .but a hell of a lot of giant PH farms that mine btc direct to usd....and more merchants the more they xfer it direct to cash a lot of 'sell' pressue imho

but then again i know zip

Searing

hey....seeing Jennifer Lawrence naked is one less thing off my bucket list...admitedly I wanted it to be private
with some wine soft music but hey.....I'll take what I can get...

Searing

that is possible when your atoms (or what is left of you in atoms) are about when the heat death of ther universe happens ..they may well
be the last to vibrate! (good to have goals)

Searing

er I'm behind the curve here paypal  ebay annoucnes bitcoin acceptance and the price drops to 466 usd ok wtf am i missing obviously i'm an idiot...is it just seen as more pressure on coin to go straight to cash out...more pressure to sell is that it?

Searing

tree falls in the forest question (if no one there to hear it does it make a sound?)

so if this hacker of satoshi's account got into his BTC account and access to 1 million  $$$ BTC and satoshi
never says anything or comes forward ...to claim ...can he keep it (hate to say this but if satoshi was
a japanese national and has been unheard from could he have died in the tital wave that hit japan?)

heck take the satoshi account say you are satoshi can sell coin..if no backlash from anon individual well
no problem right?

Searing

btc has to expand to non traditional parts of the word with currencies that are weak and/or no access to banks..new markets for places
like ebay and paypal and such

bitcoin will never be as big a deal in the developing countries imho our $$$ are stable...but someplace like Venezuela with 40% currency
inflation..well....that and international goods as a virtual type of  gold currency for places like ebay world wide w/o credit checks nor the rest

thats a frigging lot of folk

last point...China ran the price up for bitcoin...why? imho it was NOT all speculation..it fulfilled a need getting assets moved ..either to
relatives overseas or whatever from a 'closed system' ....irregardless imho with the china crackdown etc..there is still this pressure in china
and world wide to move to the use of bitcoin ie as a virtual gold...(better then trying to move the gold under the hut you saved cause
your region/country has stability issues) know some miners from Ukraine that are thrilled they did bitcoin before the crisis there cause
they could move assets out of Crimea etc ..the Cyprus argument btc has its uses...

it may be more slow growth for bitcoin.but you can't get around the above facts ..there is a big need worldwide for this

but then again what do I know I bought from BFL (got a refund) but still..the fact remains I was BFL'd

Searing

I don't like saying this...but my view (likely wrong) is it will drop to 400 or below....imho just too  much 'mining' via all the methods including
cloud hashing etc and just not enough use nor will to buy at this time...just sell asap ....hopefully this is short term...but just 'feels' like too much BTC being
converted directly to USD on all these mega farms and/or what few merchants like overstock.com etc are taking bitcoin...thus again imho we
are in this slump till around 400 usd or below...till some other aspects of use etc on Bitcoin return...(hopefully)

hoping the ETF by the facebook twins or just plain....expense of mining...glut stops and .shortens this 'slump period' again in my view ...but again i just
have a feeling that too much currency vs use and too much of that currency is being converted directly...thus an ugly pattern of bad news
or frak any news on BTC lately seems to be seen in the most negative light...and thus over reaction in my view to dump (at this time)

hope I'm wrong ...wanna be a bull......having identity crisis

anyway my view but don't mind me...I bought from BFL and Alpha Tech (got full refunds on both) and a NO ROI TITAN from KNC on order
so obviously I don't know WTF I'm talking about and am quite likely certifiably ready for a rubber room

but if BTC is a 3 legged stool mining/buying & selling/ use .... using BTC seems way back of the pack compared to the other two processes imho

just my demented view

Searing

all mega mines as far as I know like knc etc dumpt to usd the same day for accounting
and all mega mines in USA pretty much have to do so due to IRS any holding of coin
is considered capital gains and if sold within 1 year 40% plus 25% taxed on what you mine
so if they cash out the same day to usd they get around this rule

ie....too much selling not enough holding nor useage

again i LIKELY don't know wtf I'm talking about..but seems lopsided compared to use of bitcoin
and/or holding as an investment

Searing


I am holding am not selling nor likely too...just saying that what I see as stagnation....(probably stated my views badly ...likely) but some gov't actions like China etc do have meaning
on bitcoin price..again speculating but imho if china had taken more of a USA approach to bitcoin...likely we'd be at 1.5k a coin now...so between the press/media FUD and
the fact of all the centralization of mining etc....(a lot of the proponents of BTC were home miners...ie the cheerleaders...pushing the coin..they now seemed pushed out) and the likely bubble that was china...well

just feeling melancholy

that and the fact today I had a mess of contractors and others thru my house in that it is being remodeled and they asked what the KNC jupiter miner was in the  basement (5 seperate occasions as I lead plumber/electrican/contractor for estimates  thru the house and one other neighbor who chased me down in the basement for me to fix her  laptop...)

well in each individual instance...they asked about setup i said it was a Bitcoin miner KNC Jupiter (minnesota usa) well in each instance they all acted like they found me growing pot in the basement

so from the looks on faces and rapid change of context after stating this ...I asked if they heard of it ..universally they had heard it was for drug deals and illegal was it not?

no sh*t...so i got them to come around to the view of it is independent xfer of $$$ w/o banks etc...which I'm not sure they bought...again this was 5 diff people on 5 diff occasions
in my basement seeing the miner...and stating the above...

so I guess I need lock my door and next time i troop a mess of contractors thru the basement etc ....i should throw a box over the miner...was very awkward and not just 1x ..5x I went thru this

thinking about it this evening i realized that everyone (with the exception of my brothers who speculate in markets) act like when they hear I'm in Bitcoin the same way you hear
of someone in Amway...sure people may make money with amway ..but no one wants anything to do with it...same jibe..again with the exception of my two brothers who speculate
in stocks (one for a living) since last summer NO ONE with the exception of them has NOT thought it was a scam/ponzi or illegal...all FUD...and of course you try to change their mind
but they get that closed look on face that the media/news would not spread FUD look ..ie there must be something to the bitcoin scam or they would have heard otherwise...

then again I'm so far in the sticks this may just be the way it is till the press/media do less FUD on bitcoin...so anyone I talk to about bitcoin universally in my limited view
thinks it is everything the press/media says it is ...ie a scam..

just maybe having a bad day...but I mean really Ebay announces it is taking bitcoin and nothing happens in the market....price wise it goes sideways?

well anyway will hold till btc is worth zip ...made all of it mining...still have my 1st btc....just having the beanie babies heebie jeebies after today

anyway.....the suspense of this stagnation slow drip downward is just getting to me I guess...todays little escapade did not help my view it is going to be accepted quickly either

then again they all probably think the apple pay plan is a scam too...

Searing

yeah my hook so to speak


as far as manipulation..not sure it truely is manipulation as such...just coin keeps getting made ...and probably the price reflects people who are holding are comfortable with that
but not getting more coin (i'm one of these) newbies seem to have dried up....thus with more coin and less use other then holding...by that I mean not enough useage of the coin
in the international transfer of $$$ it is made for....and add to that the cheerleaders who promote the idea of bitcoin ..home miners seem to be getting out of mining..and more
to large mining farm operations and cloud mining of whatever...seems to have fizzled in the publics eye

so not manipulation just after china and the 1100 bubble and all the centralized minning going right to usd etc...seems to me a constant process of sell with little incentive
to buy and hold bitcoin (at this time) ..i am not enthused to buy more at this time because I obviously from my posts don't know WTF I'm talking about

anyway....something hopefully will break soon upward and you can all have a laugh at my expense...just saying if you make coin and it goes to usd and you sell something
on overstock.com to a customer and it goes to usd...well it really don't matter if BTC is 10 usd or 1000 usd as long as the exchange works...just wondering wtf the bottom
is and annoyed after today on all the FUD people now seem to believe...hope you are correct ..and I just had a bad day...I just think it is gonna get (hopefully only for a bit)
worse before again hopefully it climbs back into better acceptance..again as I said right now the consensus seems to be distaste...

actually the hope is on 3rd world using this more...USA etc maybe it will always be a niche we have cc and banks and such....hopefully going better there...just saying
in the last year in my area it seems to accepted as nothing more then beanie baby scam repeat

should probably just man up and buy more coin....but again my ego took a hit today...home mining seems to be dead for me now (15c/kwh don't cut it anymore) ...cloud
minng may actually be a scam from what I can tell on prices.....just not seeing a lot of unicorns and rainbows lately

yeah me too despite my crisis of confidence....BTC will have to hit 150 usd or below for me to start to hurt

now then again the bad choice of the KNC Titan NO ROI scrypt miner 1st batch...that is gonna hurt..but has nothing
to do with the previous btc I mined.....bad choice on my part (in my defense knc went from the Pope to Darth Vader
in 1 year with all the $$$ they made I guess $$$ really really do corrupt!)

so figuring in the above NO ROI Titan....if it gets below $350 usd you could say that is the true cost

WTF in 30 years they will put me in an Assisted Living place if I'm lucky ..have to have something to talk about....

yep me too....scratching my head...hoarding my knc jupiter 50 btc made (started it oct 18th 2013....looking like I will shut it off ...or not until oct 19th 2014 (or not)

have a Titan NO ROI 1st batch miner coming so all is not rosy..but just holding fiat right now.....my current thinking is it will dip below 400 usd

I"m hoping the facebook twins ETF generates some positive press and movement but who the f*ck knows when that will happen.......

other then that imho (likely wrong) all this coin being directly mined (by big miner PH farms)  and or if merchants converted to usd each day is a slow and persistent leak in price

need some real action from some 3rd world nations in using this stuff for ebay /overstock etc..... show some legs imho..get some trade going show its worth against
some 3rd world half assed currencies...

anyway not big on my recent bear opinion..miss the sense of speed and smell of bulls**t on the upswing...ah..heady days...miss them

so anyway currently a cross dressing bear I guess....longing to be a bull again

(we also serve who stand and wait/hesitate/wishy wash/stall)

I hope you are correct..I am much happier completely confused and  befuddled in a rise like last fall/winter 2013 from 150 usd to 1100 usd..then I am
confused and befuddled on this drop to 460 usd....I should be concerned about WTF is going on in the background in each instance but I'm fickle

I feel like a baby being tossed up and down in the air for fun...it is all very good going up...not so much fun going down..and always the fear of
being dropped on my head (and according to friends who think I am in the BTC cult....their view is it likely happened repeatedly)

hell at least it is interesting

my unfortunate conclusion.....again ...imho ...we need some action by folks in parts of the world where a purchase via bitcoin
gets around bribes/bad banks/bad gov't/price of wire xfer/need for credit check etc

was hoping EBAY would step up to the plate on this....a guy in east Mongolia directly buying say a tool set or something w/o
the hassle of the above ..hoop jumping to get an ebay purchase w/o cc or bank..that is the kinda action we need
some real use transparent flow of merchandise to places where this has previously been very expensive or not possible

but either it has not been happening fast enough yet or the press prefers the FUD to sell papers/media...on how bitcoin is going to FAIL
(disasters sell more papers then happy orphan adoption stories imho)

anyway in my own experience EVERYONE with the exception of my brothers who know about investing (one does so for a living) has
told me bitcoin is a scam/ponzi scheme /electronic AMWAY ..that is my favorite. electronic amway heh....or just beanie babies...so universally ain't getting
no traction I can tell in the midwest USA

still can't figure out why Russia with all the sanctions is banning BTC you'd think they'd go the other way and move $$$ via bitcoin to
stick it in the west's eye

anyway look at as a buying opportunity if it goes below 400/300/200/100 or whatever.......good news is I will own much more BTC bad news
is it may not do as well as AMWAY don't ya know

so short term I'm a Bear... long term I'm a Bull..but maybe just growing slow is what it is gonna take to kill all the bad press and FUD out there
simply by puttering on and providing hopefully the kinda of world wide use i'd like to see will just slowly grind all the FUD away...ie the
virtual currency version of  a little 'elbow grease" BTC as a 'fixer upper' don't ya know (It don't look like much now but wait till it gets going)

good to have goals

hate to say this but it is going below 400 usd imho....would be interesting if it did that and then the annoucement that the ETF by the facebook twins went thru..that would
tell quite the tale if that was to come to pass in close order

but then again wtf do i know i have a no roi knc titan 1st batch coming..and ordered from BFL (did get a refund but still)

no one is more clueless to what is going on then me ..imho

\

sorry the dumb ass (but lucky) goes to me...bfl 8.5k refunded (by luck more or less) alpha t scrypt (amex refund one of the few) spondoolies refund (they asked me after a post
nice of them..I took it...likely would have ROI'd but still)....Titan NO ROI refund 10.3k first batch will be lucky to get 1/2 back

on the other hand knc jupiter last oct till now 50 coin

anyway I may have to get hit over the head a lot..but me thinks I'm just gonna go to www.coinbase.com and leisurely buy (when  I have NFI) but still .....if all I take
from this is a loss on the Titan it was the miracle I should accept!

also at my 15c/kwh rate home mining for me is dead and hosting from what I can tell from looking is also around 15c/kwh when I work it out...sad to say it seems

yeah I'm dumb no doubt (trying to stay smart but probably hopeless)

p.s. I will hold till BTC is $1 I put in what I can afford and got in last fall 2013 so have some room yet..and then look at all the BTC I would have for that $1 a BTC
(it is a sickness)

on the other hand if I am going to be this crazy I reserve the right to let off some of the pressure by 'squeaking' about it......

lovely hobby all the joys of swimming and taunting sharks...for no particular reason

OK fine BTC goes to $1 I will own ALL (or a heck of a lot of the ) Bitcoin! (er maybe I don't have this whole optimistic outlook on holding till the end quite down yet...will have to work on this)

ah frak ...i must be the dumba*s taking the pic at the other end of the bomb....damn it .....(well that makes 2 of us)

its like a game of chicken between 2 three year olds on their big wheels..much noise...much shouting...little effect on if BTC survives or not long term

(damn I'm too old never had a big wheel just a rusty big ass tricycle)

Hate to say this...but it has to go below $150 usd for me to start to hurt on the drop..just saying (er wait I have a NO ROI TITAN 1st batch from KNC...make it more like below $350 and I will be hurting...then again Titan was like a stab in the back by a Nun...all was fine with KNC then in 2 week period they went BFL ....go figure..maybe I should not just count that .treat at as a street crime mugging btc edition

so a ways to go yet for me to panic till then I will just 'bask in the mind glow that is confusion!...

(good to have goals....seeings how I'm going to ride BTC down to $1 if I have to ..should prob figure out how to buy some coin,,,, the guestion as in all of life is of course

frigging when?

Some appropriate music for these sad times.......

https://www.youtube.com/watch?v=YZtgZ5fHOuU

play this a few times....keep the mood

well if btc hits below 400 usd I'm buying in (not much I am so far full/satisfied/have as much as I can afford in BTC etc etc) but if it
drops below 400 I will find a way to get at least 1 more coin...just to be contrary...

last great act of defiance maybe but still.....



Another way to look at this is...the low price will drive a lot of the short term speculators out (for a bit anyway) and maybe a more 'boring' bitcoin
being used in other nations and as a virtual gold for products will grow back slowly but steadily

maybe it is not a bad thing for bitcoin to become 'boring' and revisit the various highs again in a steady manner w/o out all the hype

just saying...goes under 400 ....I will get enough for 1 BTC just to be contrary/stubborn

and of course bitcoins don't ya know ..have this response in us for most of us on this thread



so WTH ...tip toe out on the plank another toe length or so...whoo hoo!