Nagel Posted April 13, 2013 Author Share Posted April 13, 2013 (edited) Unless you're deep webbing on silk road or something then what's the point? The point is to have a currency free of government intervention or control. Certainly the Silk Road was the first practical aspect of that, but Bitcoins are being adopted by more and more retailers. There's a new payment system called Bitpay which looks very promising. You can pay anyone worldwide for tiny fees compared to using banks, credit cards or Paypal. https://bitpay.com/ The current Bitcoin instability must have harmed its credibility as a currency, but hopefully it will have scared off speculators and Bitcoin can get back to being more of a currency than a commodity. ---------- Post added 16-04-2013 at 10:35 ---------- Edited April 16, 2013 by Nagel Link to comment Share on other sites More sharing options...
Nagel Posted November 27, 2013 Author Share Posted November 27, 2013 Bitcoins just reached $1000 each. When I started this thread in May 2011 they were 30 cents each. If I had kept the 197 Bitcoins I bought back then I would have $197,000 (or £121,000). Oh well... Link to comment Share on other sites More sharing options...
tzijlstra Posted November 27, 2013 Share Posted November 27, 2013 Unfortunately that is precisely the reason they won't work Nagel, certainly not in the short to medium term, the fluctuations are too great. Bloody shame you got rid of them though, I feel your pain, I was rather close to the fire when it all started and could have been producing them when they were at about a dollar. I didn't see the point back then :S Link to comment Share on other sites More sharing options...
Hairyloon Posted November 27, 2013 Share Posted November 27, 2013 Unfortunately that is precisely the reason they won't work Nagel, certainly not in the short to medium term, the fluctuations are too great. Prices rocketed when they launched, then crashed badly. It looks to me like they are climbing too fast again, which means they will crash again. After that, they should be relatively stable... Anyone got a graph handy? Link to comment Share on other sites More sharing options...
Harleyman Posted November 27, 2013 Share Posted November 27, 2013 An ideal tool for speculation Link to comment Share on other sites More sharing options...
Nagel Posted November 27, 2013 Author Share Posted November 27, 2013 Anyone got a graph handy? Try this site - http://bitcoin.clarkmoody.com/ You can customise the currency just above the chart and change the horizontal scale by clicking under the graph where it says Period. M1 shows every minute, M3 every three minutes, H is hours, D is days, W is weeks. ---------- Post added 28-11-2013 at 00:32 ---------- "Buried somewhere under four feet of mud and rubbish, in the Docksway landfill site near Newport, Wales, in a space about the size of a football pitch is a computer hard drive worth more than £4m. It belonged to James Howells, who threw it out when he was clearing up his desk in mid-summer and discovered the part, rescued from a defunct Dell laptop. He found it in a drawer and put it in a bin. And then last Friday he realised that it held a digital wallet with 7,500 Bitcoins created for almost nothing in 2009 - and then worth about the same." http://www.theguardian.com/technology/2013/nov/27/hard-drive-bitcoin-landfill-site Link to comment Share on other sites More sharing options...
Devi Posted March 6, 2014 Share Posted March 6, 2014 Finally the mysterious and secretive founder of Bitcoin has been tracked down. Or has he? 'Satoshi Nakamoto' was the public name of the person or group who founded Bitcoin. And the person who they have found is called... Satoshi Nakamoto! http://www.telegraph.co.uk/technology/news/10680492/Has-Bitcoin-creator-Satoshi-Nakamoto-been-found.html Could he now be in danger?? http://www.forbes.com/sites/laurashin/2014/03/06/newly-revealed-could-satoshi-nakamoto-worth-400m-in-bitcoin-be-in-danger/ Link to comment Share on other sites More sharing options...
Cyclone Posted May 30, 2014 Share Posted May 30, 2014 Bitcoins just reached $1000 each. When I started this thread in May 2011 they were 30 cents each. If I had kept the 197 Bitcoins I bought back then I would have $197,000 (or £121,000). Oh well... http://bitcoincharts.com/charts/bitstampUSD#rg360ztgWzm1g10zm2g25zv Back down at $600 now, still a long way above the original 30p though! Link to comment Share on other sites More sharing options...
geared Posted May 30, 2014 Share Posted May 30, 2014 You mean up. They've been trading around the $450 mark for a couple of months IIRC. Not sure whats caused the price to jump recently, 2014 has seen people being robbed blind for Bitcoins, it's almost comical to watch Well done to all those that got in early and made some good money tho :thumbsup: Link to comment Share on other sites More sharing options...
Cyclone Posted May 30, 2014 Share Posted May 30, 2014 Depends on your time frame doesn't it. I linked to a 2 year chart, they are quite clearly down, from the $1100 high in that time frame. There certainly do seem to be a lot of people losing bitcoins left right and centre. Link to comment Share on other sites More sharing options...
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