Bitcoin & Bitcoin Mining

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Just bought into my first BitCoins. .089 of one to be exact. I'll continue to pump some of each pay into it and sit on them for a while.

What do people think happens once the ~22million have been mined? Are they then seen as a rarity and the price goes north, or do people move on to another crypto?

Pretty amazing to watch the market price change so quickly.
 
Aussie Assault said:
Just bought into my first BitCoins. .089 of one to be exact. I'll continue to pump some of each pay into it and sit on them for a while.

What do people think happens once the ~22million have been mined? Are they then seen as a rarity and the price goes north, or do people move on to another crypto?

Pretty amazing to watch the market price change so quickly.
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I wouldn't.
 

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After selling a coin a week ago to fund some travels I purchased two coins yesterday taking my holdings to 6.1 Bitcoins. While the market is getting absolutely hammered at the moment for those of us with long term faith in the concept of crypto-currency it's simply a cheaper time to buy than ususal.
 
did anyone get in on auroracoin at $90/USD... now sitting at 68 cents each.

that one was a disaster waiting to happen. wasn't expecting all the way down to $0.68 to be honest but haven't been following too closely lately. other things on my plate.
 
I just thought I need to share this bitcoin infographic to help those who haven’t understood the whole meaning of bitcoin and bitcoin mining.
Bitcoin-Daily-Bitcoin-101-Infographic.jpg
 
Macca_ said:
Noob question, but is it worth investing 50 or so bucks in bitcoin and letting it sit?
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Bitcoin is a bit like the casino. You could win big or lose it all.

Does anybody know if the suicide stories over the collapse of MtGox were ever confirmed?
 
Juggalo Balla said:
Bitcoin is a bit like the casino. You could win big or lose it all.

Does anybody know if the suicide stories over the collapse of MtGox were ever confirmed?
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No idea, but I know a lot of people were stupid enough to leave money/coins on the exchange and continue to invest when it was looking like it was heading for insolvency. Don't invest more than you can afford to lose etc etc.

Bitcoin prices have jumped the last couple of days, I was kind of expecting it do so with the UK tax year ending last month so a lot of people would be investing their tax returns into BTC. Will be interesting to see if it will continue to climb or price or slump back to the mid 400's.
 

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BUMP

Have people still got money invested in Bitcoin or other cryptocurrency? I put in $200 worth of Bitcoin and Litecoin a month before Mt. Gox collapsed. Now only worth about $80 but as its not much I'm just going to leave it and see how it goes.
 
I've sold mine as I needed the cash for travelling and relocation expenses. Will buy back in if/when the price hits $600.
 
ash_1050 said:
I've sold mine as I needed the cash for travelling and relocation expenses. Will buy back in if/when the price hits $600.
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wouldn't it be best to buy before then? generally with investments you're gong to be back in at a lower price than the current

anyway... i've still got my $800 investment but it's now down to about $1700 (3.5 bitcoins)... got as high as $4000 at one point. Can't be ****ed even looking at them any more. If they bust completely whatever. Still not touching till they get to $8000 which would be approximately $2,500 per bitcoin.
 
The Passenger said:
wouldn't it be best to buy before then? generally with investments you're gong to be back in at a lower price than the current

anyway... i've still got my $800 investment but it's now down to about $1700 (3.5 bitcoins)... got as high as $4000 at one point. Can't be ****** even looking at them any more. If they bust completely whatever. Still not touching till they get to $8000 which would be approximately $2,500 per bitcoin.
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From an investment perspective BTC has dropped dramatically in price and has only gone south in 2014. If the price gets back up to $600 that says to me that the price is on the increase and that it will continue to grow. Buying on smaller fluctiations like the current $380-$450-$400 isn't worth it if the price is dropping from the ATH back in November.
 
tants said:
Anyone willing to admit how much they have lost?
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I came out £60 down when I sold the last of my coins. As mentioned in a previous post if the price goes back up again I'll be happy to buy back in after doing some research.
 
I've pretty much always been a naysayer.

Watching it drop this low just makes me laugh.

It's just not good enough. None of them are. The next generation has still not been seen.

http://www.zdnet.com/article/bitstamp-exchange-reopens-doors-after-5m-hack/

Large scale miners are going bankrupt and flooding the market with coins to cover their losses.

The crypto world is in full meltdown right now.

When all that processing power drops off bitcoin might as well be dead. I'd say we're looking at 12 months or less before it collapses completely.

At least then the programming brains can then start working on something that is truly next gen.
 
Last edited:
Where's a good site to buy them from in Australia?
 
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