Bitcoin - ###Mod Note in 1st Post - Please Read###

usersame

Lads buy quarks

Mint Aero

usersame wrote: »

Lads buy quarks

Why?

Fighting Irish

how much per bitcoin now? ish

Mint Aero

Fighting Irish wrote: »

how much per bitcoin now? ish

715 yoyos, Quarks is where it's at now apparently :cool:

usersame

The design of quarks allows for better security and distribution, they've increase from hugely in the past few days, and they're supposed to be traded in china soon, just have a punt

srsly78

Sorry usersame, we just got comfortable on this bandwagon. Jumping to a new one is a lot of effort

usersame

Don't say i didn't tell ye when I'm burning around in my new Lexus

harryr711

srsly78 wrote: »

Sorry usersame, we just got comfortable on this bandwagon. Jumping to a new one is a lot of effort

All the smart money is moving to quarks! SELL bitcoins, BUY quarks!!!!11 Bitcoin is so November.

seamus

If people are trading tips about the "next big coin" on a public forum like this, then chances are you're already too late to get in and invest.

Further to my previous post, I wasn't aware that a large number of competing cryptocurrencies were already well in full flight. Newsflash for people here: you're already too late. If you're thinking you can get in early and become a miner of an up-and-coming cryptocurrency, you're wrong. No harm to do so, it costs you nothing, but chances are any currency likely to be the "big thing" is already well past that stage.

Quark, which people are mentioning here, appears to 98% allocated already. This is probably why people are getting excited about it - because it's very close to the point where no new quarks will be created. At the same time this rapid allocation means that you probably have a small number of people who got in early and are sitting on the bulk of the quarks. They're artificially driving up the price and will happily collapse it by flooding the market to cash out their quarks which they got for nothing.

Which one will "win", who knows? All new concepts like this go through a chaotic stage where everyone jostles for position. Like the search engines, where Askjeeves and Yahoo appeared to have it all sown up, or social networking where people were convinced that MySpace was going to take over the world, you can't say for certain until everyone else has closed up shop and gone away. Bitcoin being the original and currently most popular is no guarantee of continued success.

johnr1

KyussBishop wrote: »

Can someone who isn't being an obtuse twat, please click this link, search 'bubble', and report back if it says anything about economic bubbles?
https://en.wikipedia.org/wiki/Ponzi_scheme

Thanks.

Do you go into the smokers forum and shout "yeere allll gonna diiiiie" ?

Do you post about how you hate "benders" in the lgbt forum ?

Do you try to convince people in the Ladies Lounge that "All bitches be crazy" ?

No? Cos that would be trolling right?

What kind of person gets satisfaction from others misfortune or mistakes?

Leave us alone.

JONJO THE MISER

QuarkCoin are worth $0.16 per coin at the moment.
I have my eye on Novacoin being the next big one, worth $20 at the moment, might invest in a few in the next week or 2, depending on how i do trading bitcoins.

Mint Aero

But don't the boyos who created quarks own like 80 to 90% of them?

So make them rich yeah and when they dump their coins they pull down their pants position themselves approximately 3 foot above my head and take a nice quick poop. So while they're off with their millions I'm there with a plod of poop on my head

Are bebo coins out yet? I want them

usersame

Quark is more evenly distributed than bitcoin. It was released at a time when everyone knew about cryptos and many thousands were mining it. As in any unkown crypto starting out, most miners would've been selling nearly everything they mined, distributing it even further. Also, Quarks could be mined by simple computers which increases the mining pool immensely. Bitcoin on the other hand had to be mined by chains of supercomputers, which means less miners and less distribution. Why do you think they are still working on throwing a website and blockchain together? If the developers and community were holding all of the coins, it would be their first priority spend money on marketing. Don't take my word for it, do your own research

srsly78

You are wrong about some really basic stuff there. Bitcoin mining difficulty scales, at the beginning all those coins were mined by normal computers. It's only today that FPGAs etc are needed.

What else are you wrong about? Does the Quark koolaid really taste better?

Drumorig

JONJO THE MISER wrote: »

Yes i have 1 to 10 leverage, i brought 5,000 contracts on plus500 at midnight.
Profit as we speak is Eur 2670.93.

Your profit is nothing, your using leverage on a volatile trade, you'll be wiped out when it swings in the wrong direction & be left with nothing.

The only time you'll see profit jonjo is when you have the good sense to cash out. If I were you I'd cash out & actually buy some crypto currencies.

Look what happened Quinn when he used leverage, 4 billion liability in anglo cfd's, be careful.

srsly78

Jonjo is not as unsophisticated as you might think. Misers are like that

Seaneh

usersame wrote: »

Quark is more evenly distributed than bitcoin. It was released at a time when everyone knew about cryptos and many thousands were mining it. As in any unkown crypto starting out, most miners would've been selling nearly everything they mined, distributing it even further. Also, Quarks could be mined by simple computers which increases the mining pool immensely. Bitcoin on the other hand had to be mined by chains of supercomputers, which means less miners and less distribution. Why do you think they are still working on throwing a website and blockchain together? If the developers and community were holding all of the coins, it would be their first priority spend money on marketing. Don't take my word for it, do your own research

I mind btc on my pretty average spec (fir the time) hp pavilion laptop in winter 2009/10. Just left it running while in college and at night for a few days.

What I mined back then would be worth more than I care to think about had I not cashed out.

Drumorig

srsly78 wrote: »

Jonjo is not as unsophisticated as you might think. Misers are like that

ye right, I can guarantee you he typed "buy bitcoins" into google & the first site that popped up was plus500, it's a spreadbetting account, they don't even sell bitcoins :rolleyes:

usersame

srsly78 wrote: »

You are wrong about some really basic stuff there. Bitcoin mining difficulty scales, at the beginning all those coins were mined by normal computers. It's only today that FPGAs etc are needed.

What else are you wrong about? Does the Quark koolaid really taste better?

There're 6 key difference between QRK and BTC, I'm basing what I said previously on these differences, look it up yourself

srsly78

Drumorig wrote: »

ye right, I can guarantee you he typed "buy bitcoins" into google & the first site that popped up was plus500, it's a spreadbetting account, they don't even sell bitcoins :rolleyes:

Hmm you may be right actually.

Jonjo exactly what kind of options do you hold?

usersame

Seaneh wrote: »

I mind btc on my pretty average spec (fir the time) hp pavilion laptop in winter 2009/10. Just left it running while in college and at night for a few days.

What I mined back then would be worth more than I care to think about had I not cashed out.

Tough one, my theory now is to hold all my coins unless I can cash out for a game changing amount of money, i.e something that would have a real impact on my life for the better

Sure I cashed out some BTC a few years back to buy cans and fags for Electric Picnic, shudder probably worth 20K now

srsly78

Imagine how I feel, I basically set fire to 75 grand worth of bitcoins.

JONJO THE MISER

Drumorig wrote: »

Your profit is nothing, your using leverage on a volatile trade, you'll be wiped out when it swings in the wrong direction & be left with nothing.

The only time you'll see profit jonjo is when you have the good sense to cash out. If I were you I'd cash out & actually buy some crypto currencies.

Look what happened Quinn when he used leverage, 4 billion liability in anglo cfd's, be careful.

Oh i know what your saying dont worry. Going to cash out for today in a minute and withdraw my profit, if i make back my what i put in im happy and the rest i can just play around with.

JONJO THE MISER

Drumorig wrote: »

it's a spreadbetting account, they don't even sell bitcoins :rolleyes:

If you think Plus500 is a spread betting account you have no idea what spread betting means, maybe you should google that.
Im in shock that a Mr know it all like yourself does not know what spread betting is.

LG1234

How do you buy them? I signed up for BTC-E and it saidthe minimum I could put in was €2k. How do you buy only a few hundred worth?

usersame

LG1234 wrote: »

How do you buy them? I signed up for BTC-E and it saidthe minimum I could put in was €2k. How do you buy only a few hundred worth?

open an account with https://www.cryptsy.com/users/register?refid=36953 (that's a referral link from me), buy bitcoins from eircoin.net (Irish company via bank transfer, no minimum), then transfer them to your crptsy.com wallet, you can then trade in the 60+ different currencies or just hold the bitcoin

BTC-e is a bit of a nightmare for beginners, people tend to squander there coins as they get trolled by all the pumping and dumbing, makes people think the arse is falling out of bitcoins every 5 minutes

Drumorig

JONJO THE MISER wrote: »

If you think Plus500 is a spread betting account you have no idea what spread betting means, maybe you should google that.
Im in shock that a Mr know it all like yourself does not know what spread betting is.

LOL, I know exactly what spreadbetting is, seems you don't...

srsly78

Spread betting is not real trading.

Drumorig

He's buying CFD's, it's the same thing.

JONJO THE MISER

Drumorig wrote: »

LOL, I know exactly what spreadbetting is, seems you don't...

Its obvious you dont, you dont have a clue, in spread betting you can loose more than what is in your account, in trading you cannot.

srsly78

The difference is you are taking a position against your broker (similar as with a bookie). Real trading is when you have a position with the world market, for example by actually holding bitcoins or an option to buy/sell them.

Drumorig

JONJO THE MISER wrote: »

Its obvious you dont, you dont have a clue, in spread betting you can loose more than what is in your account, in trading you cannot.

What do you think your doing? Trading? lol

Real trading is buying something, so if the price crashes you still actually own something. Your position will get closed when the price swings. In the real world your broker would give you a margin call & ask for more money. In your case the position will be closed. Don't take my word for it though, you seem to know more than me...

Seaneh

Drumorig wrote: »

What do you think your doing? Trading? lol

Real trading is buying something, so if the price crashes you still actually own something. Your position will get closed when the price swings. In the real world your broker would give you a margin call & ask for more money. In your case the position will be closed. Don't take my word for it though, you seem to know more than me...

Well, what he is doing IS NOT spread betting, because as stated, he can't lose anything beyond his initial buy in.

Mint Aero

So Gordon Geckos, what's the fastest way for moi to cash out? My monies is in yoyos on btc-e, transfer to bitstamp and dump my load there yeah?

Drumorig

Dump your load into a wallet when your done buying.

mickdw

Drumorig wrote: »

What do you think your doing? Trading? lol

Real trading is buying something, so if the price crashes you still actually own something. Your position will get closed when the price swings. In the real world your broker would give you a margin call & ask for more money. In your case the position will be closed. Don't take my word for it though, you seem to know more than me...

From my very very limited knowledge, this is what I understand from what jonjo was saying and it sounded fairly risky to me. As you say, if price goes against johjo, he will very quickly get wiped out whereas actually buying, you can live for another day.
I signed up to a plus500 account there for fun with €25 free cash so to speak. Again, I know little but it would appear to be an easy way to loose cash fairly fast. Its high stakes gambling working at jonjos level. €2000 up in a couple of hours last night. Wont always go that way.

Ace2007

mickdw wrote: »

From my very very limited knowledge, this is what I understand from what jonjo was saying and it sounded fairly risky to me. As you say, if price goes against johjo, he will very quickly get wiped out whereas actually buying, you can live for another day.
I signed up to a plus500 account there for fun with €25 free cash so to speak. Again, I know little but it would appear to be an easy way to loose cash fairly fast. Its high stakes gambling working at jonjos level. €2000 up in a couple of hours last night. Wont always go that way.

could you take the 25 quid they give you and buy QuarkCoin's at 0.16 a pop and just hold onto them for a few years, or is there a chance that you could lose your money?

alb

seamus wrote: »

If people are trading tips about the "next big coin" on a public forum like this, then chances are you're already too late to get in and invest.

Further to my previous post, I wasn't aware that a large number of competing cryptocurrencies were already well in full flight. Newsflash for people here: you're already too late. If you're thinking you can get in early and become a miner of an up-and-coming cryptocurrency, you're wrong. No harm to do so, it costs you nothing, but chances are any currency likely to be the "big thing" is already well past that stage.

Quark, which people are mentioning here, appears to 98% allocated already. This is probably why people are getting excited about it - because it's very close to the point where no new quarks will be created. At the same time this rapid allocation means that you probably have a small number of people who got in early and are sitting on the bulk of the quarks. They're artificially driving up the price and will happily collapse it by flooding the market to cash out their quarks which they got for nothing.

Which one will "win", who knows? All new concepts like this go through a chaotic stage where everyone jostles for position. Like the search engines, where Askjeeves and Yahoo appeared to have it all sown up, or social networking where people were convinced that MySpace was going to take over the world, you can't say for certain until everyone else has closed up shop and gone away. Bitcoin being the original and currently most popular is no guarantee of continued success.

Agree with everything you said, I'll add that a lot of the alternative coins are garbage. Keep in mind they have generally every risk that Bitcoin does, and a lot more on top of that. Most were created only a few months ago, the coin fundamentals have not been tested as well as Bitcoin, as they are newer and have a much smaller user base and miner network. Some have already been compromised, some are pre-mined scams from the start. Most have small communities, no merchant adoption and offer little if no reason to use them instead of Bitcoin.

So, these alt coins are super high risk and the volatility is crazy at times. It can be fun to trade due to this, but beware you really may lose everything you invest. I have faith in Bitcoin continuing to grow in the long run, but I'm not too confident in any of the alts I've seen yet at least overtaking it, or even getting significant merchant adoption. These coins currently just exist for speculation and day-trading.

I'm still more interested in Bitcoin as an invention than I am about whether Jonjo is going to be a millionaire or bankrupt by tomorrow. If anyone here is still curious about the crypto currency concept in general, how Bitcoin came to be invented, how and why it works, I found this video (form the excellent Bitcoin 101 series) and the sequel to part really interesting:

usersame

Ace2007 wrote: »

could you take the 25 quid they give you and buy QuarkCoin's at 0.16 a pop and just hold onto them for a few years, or is there a chance that you could lose your money?

No, they're aren't any spread betting options available on quarkcoins and no dealer (there are only 3) will give you free money to play with

JONJO THE MISER

Up another 4.60% today, have just closed my position as i have doubled my money in 2 days, now going to cash out my initial investment.

mickdw

Well done. Its quite an achievement but its not as easy as you make it sound.
Also, plus500 appear to be offering massive top ups if you fund your account with certain amounts. It all screams scam to me. Why would they give away free money. What are the conditions?
Are you free to cash out all the money at this stage? - take investment, profits and run?

magic_murph

Just about to but €1200 worth so will see where I stand in a couple of weeks.

usersame

mickdw wrote: »

Well done. Its quite an achievement but its not as easy as you make it sound.
Also, plus500 appear to be offering massive top ups if you fund your account with certain amounts. It all screams scam to me. Why would they give away free money. What are the conditions?
Are you free to cash out all the money at this stage? - take investment, profits and run?

They're a bookmakers essentially, the same way Paddy Power offer deposit bonuses

They offer you a price on a spread of the likely values of a stock over a time period, they set the spread the same way Paddy Power sets the odds on who wins a match so that they generally make a profit regardless of outcomes

General General

Ha ha, how I laugh at those who mined early on & sold for a pittance!

I saved myself that effort, stared at the bitcoin train go by like a f`cken moron & am about as well off.

My positions in silver that I did make the effort to take has produced the dizzying returns that were promised me by many free newsletters on the subject.

shanemort

if anyone needs to cash out in a realistic time frame like - having your euros into your bank account in 3-4 days drop me a PM,

IvaBigWun

Hmmm, Tulip Mania is springing to mind here. That and the fact that those last in make the least money, so it is just a pyramid scheme in all but name imho.

That said, a non PayPal cyber currency is badly needed and I recently read that the twins who sued Facebook's Mark Zuckerberg for allegedly nicking their idea now own 1% of all Bitcoins in the world. These lads are venture capitalists so there must be something to their convictions.

I think this could be worth a punt. It is a risk but its a calculated one. Id say there's a Boardsie or two who have made 10 grand or more on these

AtomicHorror

Another tumble in price today after the Chinese government moved to regulate BTC (also another drugs website disappeared). The press took "regulate" to mean "ban", and the result was panic selling. Already the panic is waning, and it seems like what's actually happening is that China has designated BTC as a commodity, meaning that the regulations, taxes etc. are all actually much clearer now. The price seems to be stabilising at $1000, or at least is returning to bitcoin's crazy version of "stable".

As usual, lots of people calling bubble, crash and such but once again another crisis weathered surprisingly well.

oppenheimer1

AtomicHorror wrote: »

Another tumble in price today after the Chinese government moved to regulate BTC (also another drugs website disappeared). The press took "regulate" to mean "ban", and the result was panic selling. Already the panic is waning, and it seems like what's actually happening is that China has designated BTC as a commodity, meaning that the regulations, taxes etc. are all actually much clearer now. The price seems to be stabilising at $1000, or at least is returning to bitcoin's crazy version of "stable".

As usual, lots of people calling bubble, crash and such but once again another crisis weathered surprisingly well.

It was more than a tumble, the asset lost almost 30% of its dollar value at one stage today.

JONJO THE MISER

oppenheimer1 wrote: »

It was more than a tumble, the asset lost almost 30% of its dollar value at one stage today.

I have not traded it in 2 days, going to trade it again after midnight.

Jonny7

oppenheimer1 wrote: »

It was more than a tumble, the asset lost almost 30% of its dollar value at one stage today.

Which is insanity for a currency but just another normal day for bitcoin

The risk with crypto-currencies is their uncertainty - will they be regulated? are the exchanges to be trusted? and so on

I would be extremely surprised to see Bitcoin drop below 100 ever again, but I wouldn't at all be surprised if it were at 10x current value in a years time