Bitcoins!

entropy13 · Nov 28, 2013

NinkobEi said:
And there's the problem. There's really no good way to cash out. Best bet is to buy drugs from a black market site and sell them at the local elementary. (obvious sarcasm)

Too much competition from the local syndicates, or the other small-time dealers, which are also 'protected' by the police, who get cuts, as well as the politicians, who are sometimes the drug kingpins too. Suppliers are usually either Chinese (mainland), Taiwanese, or African. Or 'homegrown' using Chinese equipment/ingredients.

So yeah, they're not exactly 'black market' in a sense. Oh well, 3rd World and all of that jazz, where dealing with drugs is easier than dealing with bitcoins.

Nordic · Nov 28, 2013

NinkobEi said:
And there's the problem. There's really no good way to cash out. Best bet is to buy drugs from a black market site and sell them at the local elementary. (obvious sarcasm)

It is not straight forward or similar to the financial system in anyway. Its in its infancy. Give it a break.

HammerON · Nov 28, 2013

I read this article today:
http://worldnews.nbcnews.com/_news/...d-drive-loses-75-million-bitcoin-fortune?lite=

Felt kind of bad for the fellow.

mauriek · Nov 29, 2013

well..i have been with BTC since 2010 and it always been good to me, at beginning i only use it for buying about 100 legal games for my steam collection and paying for domains, now i can use it for anything else, with the current price and regular monthly cash out, this system really help in this kind of bad economy in our country.

entropy13 · Nov 29, 2013

If anybody here is interested in my 2011 'vintage' of 0.37 BTC, PM me. LOL

NinkobEi · Nov 29, 2013

mauriek said:
well..i have been with BTC since 2010 and it always been good to me, at beginning i only use it for buying about 100 legal games for my steam collection and paying for domains, now i can use it for anything else, with the current price and regular monthly cash out, this system really help in this kind of bad economy in our country.

What have you bought with bitcoin lately? I'm curious. I still claim its nothing but a huge ponzi scheme. These trading websites dont have near enough money to cash everyone out.

Nordic · Nov 29, 2013

NinkobEi said:
What have you bought with bitcoin lately? I'm curious. I still claim its nothing but a huge ponzi scheme. These trading websites dont have near enough money to cash everyone out.

If everyone tried to cash out the price would drop like lead.

MT Alex · Nov 29, 2013

NinkobEi said:
What have you bought with bitcoin lately? I'm curious. I still claim its nothing but a huge ponzi scheme. These trading websites dont have near enough money to cash everyone out.

Go try to withdraw more than $10000 from your local bank and see what they say.

mauriek · Nov 29, 2013

NinkobEi said:
What have you bought with bitcoin lately? I'm curious. I still claim its nothing but a huge ponzi scheme. These trading websites dont have near enough money to cash everyone out.

actually..i just cash out about $ 1800 today to take profit and restructure my mining and crunching PC, bought Club3D 7950 for LTC mining to help pay for short future electricity bill, and few grams of gold from local pawn shop to pleased my wife.

https://blockchain.info/address/1EfNTwmXtbGGxEzyRmBu5k3LtT1eB5xHy4

1GCfD6jBytMNSyS9wG1zYxhY5ffGCq3EA6 in that blockchain is my wallet address just in case somebody want to donate their "vintage" BTC

entropy13 · Nov 29, 2013

Pay up if you want my precious 0.37 BTC. LOL :laugh:

RCoon · Nov 29, 2013

HammerON said:
I read this article today:
http://worldnews.nbcnews.com/_news/...d-drive-loses-75-million-bitcoin-fortune?lite=

Felt kind of bad for the fellow.

Implying he ever had those bitcoins, and didn't just say all that crap to make it on the news. Also I thought bitcoins were stored in your e-wallet, not stored locally on a hard drive?

NinkobEi · Nov 29, 2013

MT Alex said:
Go try to withdraw more than $10000 from your local bank and see what they say.

Why wouldn't they say, "Here's your cash mr. dude, can I get you anything else? thank you for banking with us."?

Nordic · Nov 29, 2013

RCoon said:
Implying he ever had those bitcoins, and didn't just say all that crap to make it on the news. Also I thought bitcoins were stored in your e-wallet, not stored locally on a hard drive?

There are ewallets out there, but primarily bitcoins and the blockchain are on hdd's. This is why you have to take certain security precautions if you have a lot of them.

entropy13 · Nov 30, 2013

NinkobEi said:
Why wouldn't they say, "Here's your cash mr. dude, can I get you anything else? thank you for banking with us."?

No, to be able to get to withdraw that much to begin with you'll have to show a lot of papers and identification. You'll have to wait a few days too.

Unless of course you're a politician or a drug/crime kingpin (or both), and using a fake identity, then that means it'll be done in less than an hour.

That's the case here at least.

Nordic · Nov 30, 2013

I was trying to buy a $3000 car. Saw it for sale on the side of the road. Went to withdraw $3000 cash, but the plan was to bargain him down. I went to my bank and asked to withdraw $3000. They said they had a $2000 limit on daily withdrawals. USA.

Nordakbalrem · Dec 1, 2013

Just my opinion, but if your storing your BTC in an ewallet or on a computer with internet, you are doing it wrong. And god help you, you will get robbed.

Create an offline vault and christ sakes make a second copy and keep them both safe

Solaris17 · Dec 1, 2013

im cranking some LTC atm and its not that bad but the market is pretty volatile atm.

Nordic · Dec 1, 2013

Solaris17 said:
im cranking some LTC atm and its not that bad but the market is pretty volatile atm.

I see volatile as opportunity. Crypocurrencies and volatile are so far synonymous too.

Solaris17 · Dec 1, 2013

james888 said:
I see volatile as opportunity. Crypocurrencies and volatile are so far synonymous too.

I didnt say I didnt expect it i mean i just watched BTC dive $120 and LTC dipped like $5 such is life though

Easy Rhino · Dec 1, 2013

I would have so much money if i kept that wallet...

Solaris17 · Dec 1, 2013

So btc is free falling

mauriek · Dec 2, 2013

nah..it stabilizing now, just normal correction, with a lot of money from investor pouring for the last few weeks/month there will be time for correction, for profit taking or else.
And i just read news ticker that US reserve bank print extra $7B this year? if that's true then BTC investor should be cautious.

Octopuss · Dec 2, 2013

Is this (either BTC or LTC) worth it at all if one doesn't have dedicated machine running 24/7? How much can you realistically make in a month? About as much as in one day in a job?

NinkobEi · Dec 2, 2013

Octopuss said:
Is this (either BTC or LTC) worth it at all if one doesn't have dedicated machine running 24/7? How much can you realistically make in a month? About as much as in one day in a job?

You can check it here. If you bought a 7950 for mining you would literally never break even - at the current bitcoin value anyway.
http://www.coinish.com/calc/

Bitcoins Donchian channel:
"The Donchian channel is a useful indicator for seeing the volatility of a market price. If a price is stable the Donchian channel will be relatively narrow. If the price fluctuates a lot the Donchian channel will be wider. Its primary use, however, is for providing signals for long and short positions. If a security trades above its highest n periods high, then a long is established. If it trades below its lowest n periods low, then a short is established."

mauriek · Dec 2, 2013

Octopuss said:
Is this (either BTC or LTC) worth it at all if one doesn't have dedicated machine running 24/7? How much can you realistically make in a month? About as much as in one day in a job?

Rough calculation for LTC, at $20-30/LTC, a single 7950 running 24h/day will give you $5-8/day or $0.2-0.3 per hour.

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Bitcoins!

entropy13

Nordic

HammerON

The Watchful Moderator

mauriek

entropy13

NinkobEi

Nordic

MT Alex

mauriek

entropy13

RCoon

NinkobEi

Nordic

entropy13

Nordic

Nordakbalrem

New Member

Solaris17

Super Dainty Moderator

Nordic

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Easy Rhino

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Solaris17

Super Dainty Moderator

mauriek

Octopuss

NinkobEi

mauriek

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