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The Lounge>Bitcoin Take?
ChiefRocka 11:41 AM 02-15-2013
Always love to bounce this kind of stuff off the Planet. Have any of you done any research into Bitcoin, and if you hold any opinions on the concept I'd love to hear what you think.





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ChiefRocka 06:46 PM 12-15-2014
Originally Posted by KC native:
:-) I tweeted my bit coin aficionado friend this article and came here to post but you beat me to it.
"First they laugh at you, then they fight you, then you win"
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Window Licking Whiner 07:22 PM 12-15-2014
Originally Posted by BWillie:
So I have like $2,000 worth of Bitcoin, just to mess around on this small poker site that ONLY takes Bitcoins just to mess around. Never really play on it, just bought some as a terrible idea of an investment. Ever since I bought it 9 months ago it appears to keep dropping.

What should I do? Sell or keep?

Hold it. Value is waaaay down. Wait for it it climb up a little bit then sell at a value you like.

At what price did you buy in?
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FD 12:04 PM 12-16-2014
Originally Posted by BWillie:
So I have like $2,000 worth of Bitcoin, just to mess around on this small poker site that ONLY takes Bitcoins just to mess around. Never really play on it, just bought some as a terrible idea of an investment. Ever since I bought it 9 months ago it appears to keep dropping.

What should I do? Sell or keep?
I would sell it immediately while you can still get a decent price. This thing has nowhere to go but down. I gave this same advice earlier in this thread when the price was around $800.
[Reply]
KC native 12:25 PM 12-16-2014
Originally Posted by ChiefRocka:
"First they laugh at you, then they fight you, then you win"
So, why don't you put up a chart of the stagnating transaction volume using bitcoins?
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Pawnmower 12:40 PM 12-16-2014
Its tough to say. I bought some at 450. It's been hovering in the mid 3's for a bit.

I'd say hold it if you can tolerate the risk.

Litecoin mirrors bitcoin and is about 3 dollars per.

If anyone is wanting to play around cheap, litecoin would be a cheap way to get a little coin.


I am holding a bunch of different coins, but its just a fun long shot...I was playing around with mining for a while.
[Reply]
ChiefRocka 02:33 PM 12-16-2014
Originally Posted by KC native:
So, why don't you put up a chart of the stagnating transaction volume using bitcoins?
I
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KC native 02:36 PM 12-16-2014
Originally Posted by ChiefRocka:
I
Awesome.

Now if more and more places are accepting bitcoin but you're not seeing a noticeable increase in transactions, which direction do you think that bitcoin is more likely to move in?
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ChiefRocka 02:39 PM 12-16-2014
To be honest there is no real use case at the moment for an average American to use Bitcoin except as a purely speculative investment. That will change with time however as there is equal monies being pumped by VCs into Bitcoin startups as there were back in the early nineties for the Internet.

Now remittances in Mexico and Asia, the unbanked in Africa and as a store of value for Argentinians & Venezuelans. There is something to watch.

This thing is bigger than most can comprehend. I really recommend doing your homework, read the Satoshi whitepaper.


[Reply]
Pawnmower 03:15 PM 12-16-2014
Originally Posted by KC native:
Awesome.

Now if more and more places are accepting bitcoin but you're not seeing a noticeable increase in transactions, which direction do you think that bitcoin is more likely to move in?
what direction does that graph look like its going to you?
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Pawnmower 03:16 PM 12-16-2014
If anyone is interested in playing around with some digital currencies, here is a link that if you sign up, gives you a tiny bit of free coins per day

https://qoinpro.com/d942e212f85ca6f66bc41a893527dbda

I get coisn too if you use that link

or just

use

https://qoinpro.com

if you h9 me and dont want me to get a penny worth of coins a day
[Reply]
KC native 03:19 PM 12-16-2014
Originally Posted by Pawnmower:
what direction does that graph look like its going to you?
It's a noisy data series. Draw a trend line through the middle of it and you'll notice that despite more and more merchants accepting bitcoin, you're not seeing a commiserate increase in transactions which implies that it is still a niche thing and people are holding bitcoin with the expectation that they will go up instead of spending them.
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Pawnmower 03:21 PM 12-16-2014
Originally Posted by KC native:
It's a noisy data series. Draw a trend line through the middle of it and you'll notice that despite more and more merchants accepting bitcoin, you're not seeing a commiserate increase in transactions which implies that it is still a niche thing and people are holding bitcoin with the expectation that they will go up instead of spending them.
your straight edge must be different than mine

I see a fairly noticeable upward trend from around 45k to 75k when you go thru the middle, and correct the outliers etc

and thats just over the last year
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KC native 03:25 PM 12-16-2014
Originally Posted by Pawnmower:
your straight edge must be different than mine

I see a fairly noticeable upward trend from around 45k to 75k when you go thru the middle, and correct the outliers etc

and thats just over the last year
Noticeable and significant are two different things.
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Pawnmower 03:27 PM 12-16-2014
Originally Posted by KC native:
Noticeable and significant are two different things.
well YOU are the one that said it was not noticeable

now you move the goalposts

/shrug
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Pawnmower 03:29 PM 12-16-2014
by the way it seems on the surface to be signifigant since the graph EXCLUDES popular addresses (the exchanges etc) and so represents mainly small user transactions, apparently
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