[MediaArtist]

I wouldn't touch BitCoin with a 200 foot pole. Maybe back in 2009, but now? The hype train is in full effect already. Not enough upside left, and definitely could see a huge downside coming especially if this Mt.Gox implosion brings government regulation all across. That would spell doom for the current price movement.

That being said, I think CryptoCurrency is here to stay but that doesn't necessarily mean BitCoin (or LiteCoin or DogeCoin, etc)

[Maestro]

^ I agree with you, there will be something in the future can not be sure what it will look like but you can bet the banks and everyone will have their fingers in it.

The thing I find funny is the justification people use as it being real is the fact people are making money at. Tell the people who invest with Madoff about if they thought it was all real because people were making money.

[kmarei]

No smart ass comments from the bitcoin doubters now huh?

[MediaArtist]

Originally Posted by BMW..

At the end of the day I'm a 18 year old kid who invested 500 bucks and came out with 2500$. Could've made 5000 if I cashed out when it was high but hey still a good deal. I nearly 5x my investment and couldn't be happier

Good job. You weren't an idiot who invested thousands of dollars into mining machines, made some profit and got out, unlike some other geniuses here. Enjoy in good health.

[grimlock]

Originally Posted by BMW..

At the end of the day I'm a 18 year old kid who invested 500 bucks and came out with 2500$. Could've made 5000 if I cashed out when it was high but hey still a good deal. I nearly 5x my investment and couldn't be happier

This kid knows how to do it right.
Buy early, pump it up all over the internet, then dump it to the guy below

Originally Posted by kmarei

No smart ass comments from the bitcoin doubters now huh?

Smart ass enough?

[MediaArtist]

Originally Posted by BMW..

I didn't invest bitcoin I did lite coin. Same shit different value haha

Oh snap! Where you at Kmarei?

[stylinexpat]

This is quite interesting.... Remember the Lehman Brothers and Bernard Madoff?

http://www.wired.com/wiredenterprise...coin-exchange/

[Myrder]

http://www.wired.com/wiredenterprise...coin-exchange/

nice read on Mt.Gox

[kmarei]

Originally Posted by MediaArtist

Good job. You weren't an idiot who invested thousands of dollars into mining machines, made some profit and got out, unlike some other geniuses here. Enjoy in good health.

Because some of the other geniuses here aren't as short attention spanned as you
I'm not in it for a quick buck
Many experts predict the price of bitcoin will go above $2000 in 2014
I'm mining bitcoins now
I'm not out for a quick buck
And I'm mining multiple currencies

Already with the whole mtgox fiasco, bitcoin is now above the price before the mtgox collapse

[kmarei]

Originally Posted by grimlock

This kid knows how to do it right.
Buy early, pump it up all over the internet, then dump it to the guy below




Smart ass enough?

Ofcourse, I expect nothing less from you
Unfortunately, again, you're incorrect
I didn't buy my hardware used, so the above statement is also incorrect

[kmarei]

Originally Posted by MediaArtist

Oh snap! Where you at Kmarei?

Keep in mind the title of this thread was crypto currencies
Not specifically bitcoins
So yes he invested in litecoins
But it's the same concept

Let's see how dogecoins pick up
I have 118,000 of those
He who laughs last...

[Myrder]

Originally Posted by kmarei

Keep in mind the title of this thread was crypto currencies
Not specifically bitcoins
So yes he invested in litecoins
But it's the same concept

Let's see how dogecoins pick up
I have 118,000 of those
He who laughs last...

Just to be clear...If you have so much faith in these different currencies why not just buy them with cash instead of mining them...? Wouldn't it be more cost effective to mine the more expensive coins and just buy the $130 in doge?

"An analysis at BitcoinTalk has concluded that as of the end of January, 8.8 of the 11.8 Bitcoins in existence are held by people with at least 100 of them. (At today’s prices, each of them has more than $50,000 in Bitcoin wealth.) Within that group it’s estimated that fewer than 1,000 people are holding more than half of the world’s Bitcoins and just 46 of them hold at least 10 thousand Bitcoins representing 3.6 million total coins — 30% of everything that exists. Given that there isn’t much to buy with Bitcoins yet, it’s reasonable to conclude most of those are held by speculators betting on higher prices."

I like to think about the above statement. Now someone/group has 740,000 more coins and the FBI has 144k... so damn near 10% of the bitcoins mined today have been seized or stolen lol.

[kmarei]

Originally Posted by Myrder

Just to be clear...If you have so much faith in these different currencies why not just buy them with cash instead of mining them...? Wouldn't it be more cost effective to mine the more expensive coins and just buy the $130 in doge?

Because to mine litecoins and dogecoins, the cost is close to zero
You buy a good graphics card, I've spent just under $200 for 2 pretty good ones
I've mined 5 litecoins,, and 118,000 dogecoins
Will shift them back to dogecoins once I mine another 5 litecoins
After I am done
I can sell the graphics cards for close to, if not a little more, than my purchase price. Because good graphics cards are always in demand by PC gamers, actually right now there is a shortage of good graphics cards due to the mining boom.
And since I'm not paying for electricity or cooling (mining at work, where power is part of our lease contract)
It's a safe bet

Originally Posted by Myrder

I like to think about the above statement. Now someone/group has 740,000 more coins and the FBI has 144k... so damn near 10% of the bitcoins mined today have been seized or stolen lol.

The interesting thing about the FBI is why are they holding on to them?
As of right now, their value is close to $100 million
Why hold on to them if you know the value could plummet?
Unless, they know that their value will go up.

[MediaArtist]

Originally Posted by kmarei

Let's see how dogecoins pick up
I have 118,000 of those
He who laughs last...

[PINeely]

Dogecoins huh?

[Maestro]

Okay, I figure it out, all those people with mining machine were mining their bitcoins from MtGox servers, the place was leaking like a sieve.

The best thing about these systems is the following statement"

Bitcoin promises to give a bank account to anyone with a mobile phone, no ID required. It’s clearly an amazing and potentially world-changing technology — the first viable, decentralized, reliable form of digital cash. It could democratize international finance. But it’s also a technology that was pushed forward by a community of people who were unprepared or unwilling to deal with even the basics of everyday business. A new wave of entrepreneurs may bring the digital currency a new level of respectability, but over its first several years, bitcoin has been driven largely by computer geeks with little experience in the financial world.

Hey I put my money into some high risks things as well, but I fully new what I was getting my money into, but most people playing in the whole crypto-currencies are not aware the people behind the currents have no clue what they are doing.

To kmarei point this thread is about crypto currencies, not investments so I am not sure why he keeps talking about it being an investment and he is waiting for his big day to happen.

What guaranties are you operating under to believe the same thing that happen at MTGox will not happen in all the other systems. Remember most of their servers are using same open source code, once the hackers figure out where the holes are it will not be long before they attack another systems.

Remember hackers are much smarter than the average criminal who breaks into your home or robs a bank. If they can find holes in Apple iOS code to jailbreak a phone and they employee some of the best programmers in the world and security experts, what makes you think they can not hack these exchanges. Base on what happen with MtGox they all could be hacked as we speak and Hackers are smart of enough to do it in away which does not draw attention to their activities.

The hacker could be employing what is know as Salami Slicing, This happen in the US banking back in the 70's and 80's some guy stole millions from his bank over many years and the bank had no clue he was doing it.
http://en.wikipedia.org/wiki/Salami_slicing

If I was Mark Karpeles, i would go into hiding, organized crime does not take lightly to their ill-gotten money disappearing. Rumor has it many of his client were into money laundering.

[justinnum1]

aurora coin went nuts today!!!!!!

just started crashing a little while ago, but you could have made a nice 150%.

[Patrick303]

Another one bites the dust.

http://finance.yahoo.com/news/anothe...160233294.html

[Billup]

[Templar]

[upstatedoc]

Sell! Sell!

[MediaArtist]

This is sadistic.