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Bitcoin & Bitcoin Mining

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Smiling Buddha said:
Yeah. Almost as if the same people are doing most of the selling and the buying...
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Might not be far off the mark, it is a speculators wet dream. I sold and bought...ending up with 25% more bitcoins in the process. I have not increased the actual dollar value of my portfolio however increased the amount of coin. If that proves to be a good thing in the long run, i guess we will see.
 
What is everyone doing at the moment?

Prices are way down since I left for my honeymoon a few weeks ago. Was pretty close to getting in on it then, but glad I missed out. Not sure whether to buy now or maybe hold out a bit and see if they drop any further.
 

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Used to use bitcoin for silk road then lost interest in it when that got shut down. After the recent spike I purchased just shy of half a bitcoin last night and will wait until the market is showing signs of growth or holding over several weeks before purchasing another few coins.

As it stands currently the market is down 28.93% over the last 7 days (i.e. the most recent micro bubble has burst) so until that turns around I'll hold off in the hope it continues to fall further before investing more. For the nominal outlay (~$2000 in my case) it's worth the investment, the potential gains are phenomenal and I have a reason to learn more about CC and fiat currency.
 
My portfolio from earlier is now running at about $2100 total from $800 invested. Peaked at about $4200 a couple of weeks ago.

Come on baby get your ass back into gear.
 
Wow, it's down significantly again today. Has to do with rumours that China will be placing tighter regulation over the use of bitcoin (not sure if that's possible), but the confidence of BtC investors is low given that China is seen as instrumental to the success of bitcoin.
 
Freefall.

Getting smashed by China at the moment.

Anyone that's been involved with these for long enough knows that this happens sometimes. This is probably the biggest hit to the cryptocurrency market since bitcoins dropped from mid 30's to about 2-3 dollars about 18 months ago.
 
looking at my spreadsheets my coins were valued at $4200 on Dec 4, had a bit of a hiccup down to $2800 on Dec 15. About 7pm tonight were $2200. At 10pm tonight they are now $1300. ooooo man, gotta do that rebuild all again.
 
The Passenger said:
looking at my spreadsheets my coins were valued at $4200 on Dec 4, had a bit of a hiccup down to $2800 on Dec 15. About 7pm tonight were $2200. At 10pm tonight they are now $1300. ooooo man, gotta do that rebuild all again.
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Ride 'em all the way to zero.
 

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The Passenger said:
if it happens it happens. original investment 800 is not that much coin. i have spent that much money on a night out before. only once.
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I don't really see you losing much, if anything. Unless the government does something stupid, they're always going to be worth something. Of course, if they go back down to last year's prices, then just purchase big again. Will be much more fun playing with them when they don't cost a weeks wage to buy 1 BTC.
 
Freak Dodgeball Accident said:
I don't really see you losing much, if anything. Unless the government does something stupid, they're always going to be worth something.
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That is pretty much what I figure.

I can't ever see them going down to 0, or even anything close. They would only become totally worthless if the technology and/or the blockchain fails which is pretty unlikely when you consider the amount of money some very smart people have invested in this.
 
volume graph on mtgox is very interesting.

popcorn.gif

especially considering timezones. be v interested to see what the price will be when i wake up tomorrow.
 

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Another negative story from China, another rush of panic selling. Reality is that the Chinese love bitcoin, and will still find a way to acquire them, just the way they still access google, youtube and facebook (all banned in China) from external servers. As mentioned earlier, the true worth of bitcoin is the way that it constantly rebounds from such hiccups. For a currency/commodity still in its infancy, it will fall over a couple of times, but will get back up and eventually walk and then run. I bought again last night, as this may be the last time we see prices that low.
 
wish i hadve got some last night but finally bit the bullet tonight. better than the $1100 each i was one mouse click away from paying a few nights ago

probably too late for the crazy profits but it cant end up much worse than my stock portfolio:oops::thumbsdown:
 
The Passenger said:
looking at my spreadsheets my coins were valued at $4200 on Dec 4, had a bit of a hiccup down to $2800 on Dec 15. About 7pm tonight were $2200. At 10pm tonight they are now $1300. ooooo man, gotta do that rebuild all again.
Click to expand...


as old mate tim riggins would say:

"yeah, well, it's when all the scared rats are running away from the sinking market that the real entrepreneurs come in; the true visionaries". ​
 

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