my bitcoins gone up...

[vitalsignsrn]

I just read today in the news that you can buy a Tesla S for 81 Bitcoins. And that Lamborgini has added themselves to the list of companies that accept Bitcoins.

[GB-man]

Originally Posted by Bassplayer

keep buying bit coins. keep money out of gold/silver for a while...

I am thinking the opposite. And I'm no gold bug. Don't chase late, buy fear early. Def waiting to see how gold reacts to an actual taper statement from the fed first though. No need to step in front of the train early. Quickest way to make a buck is to step in before a short squeeze

[shnxx]

Lamborghini?
Links?


Anyway bitcoin situation is so volatile I don't know what to think.
The mythical origin story doesn't allay my fears either.

[bayerische]

Originally Posted by The Joker

That was a Bit careless.

[powerfunk]

Originally Posted by shnxx

Lamborghini?
Links?.

http://www.dailymail.co.uk/sciencete...-currency.html

[diver2012]

Originally Posted by andromeda160

I told my friend that we should invest in bit coins and just sit on them. He said it was a dumb idea and I dropped it. A year later and I coulda been a millionaire -.-

Why didn't you just do it yourself?

You can't have been that convinced!

Hindsight is a wonderful thing...

...don't worry though...they will come crashing down soon...oh wait it looks like they already are...

[bayerische]

760-ish now. Talk about something volatile...

[Touring]

Perhaps someone could explain this, but who's to stop someone from creating another digital currency that is generated by an algorithm with a predetermined number of "coins"? BTCs seem way too volatile to me.

[bplein]

Nothing is stopping it. Trust and liquidity can help or prevent the popularity of a given digital coin. Right now there are dozens of crypto coins available to trade. See cryptsy.com

[powerfunk]

Originally Posted by Touring

who's to stop someone from creating another digital currency that is generated by an algorithm with a predetermined number of "coins"?

Nothing. Bitcoin was the first, but there are many alternative cryptocurrencies. All cryptocurrencies besides Bitcoin are called "altcoins." The leading altcoins are Litecoin, Namecoin, and Peercoin.

However, no new "coin" is going to get any respect from anybody unless it's open-source AND provides some sort of smart new technical advantage that Bitcoin doesn't have. For instance, Litecoin transactions are quicker than Bitcoin transactions, Peercoin mining takes much less electricity than other coins, and Namecoin's algorithm is very unique and actually involves domain names.

There are plenty of new "scamcoins" popping up every day, but I don't put much stock in anything but those 4 coins. People will scoff if the creators "pre-mine" the coins or don't release the code, etc.

[diver2012]

And down she goes...I feel sorry for those getting suckered in to this...

[69mach351]

Originally Posted by diver2012

And down she goes...I feel sorry for those getting suckered in to this...

Down hard...50% so far. Just like anything some made a fortune and it looks like others may be getting ready to feel the pain. It was a gamble and I think that everyone realized that going in. Hindsight is 20/20, but I would think a majority are not surprised. It will be interesting to see what happens from here.

[mtrunner]

The big problem I see with something like Bitcoin as a viable currency is a majority of the population has no idea how it is derived and do not have the ability to "mine" for it themselves. The entire process doesn't make a whole lot of sense unless you are extremely savvy with computers.