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11-28-2013, 11:52 AM
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#276 | | I have named my kids VIC and VLS
Join Date: Oct 2001
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Picked up some NMC on that twitters recommendation lets see how it goes
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11-28-2013, 11:57 AM
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#277 | | Zombie Mod
Join Date: Aug 2003 Location: Langley
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It's a long climb to $20. The secret is to get your buys in before they announce the pump. The price usually shoots up a buck, really quick. Then you can decide if you want a quick profit, or to try to ride the wave for more.
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11-28-2013, 12:43 PM
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#278 | | I bringith the lowerballerith
Join Date: Mar 2002 Location: Vancouver
Posts: 1,103
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You win some, you lose some.
Was in on NMC at $4.xx 2 days ago. Sold at $6.xx and missed the pump to $12-15.
Hoped on the LTC train now and it's flat -_-;
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11-28-2013, 12:46 PM
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#279 | | I bringith the lowerballerith
Join Date: Mar 2002 Location: Vancouver
Posts: 1,103
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Has anyone verified, deposit, traded on Virtex yet?
If so how long did it take?
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11-28-2013, 12:50 PM
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#280 | | Old School RS
Join Date: May 2004 Location: Port Moody
Posts: 4,640
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I have started the process of L2 Verification and am still waiting, going on 3 days now. They are estimating a week.
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I'm old now - boring street cars and sweet race cars. | |
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11-28-2013, 12:51 PM
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#281 | | I bringith the lowerballerith
Join Date: Mar 2002 Location: Vancouver
Posts: 1,103
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Originally Posted by lowside67  I have started the process of L2 Verification and am still waiting, going on 3 days now. They are estimating a week. | How long did it take you for L1?
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11-28-2013, 12:52 PM
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#282 | | Old School RS
Join Date: May 2004 Location: Port Moody
Posts: 4,640
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Didn't do L1, just went straight to L2...
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I'm old now - boring street cars and sweet race cars. | |
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11-28-2013, 01:01 PM
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#283 | | I bringith the lowerballerith
Join Date: Mar 2002 Location: Vancouver
Posts: 1,103
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Originally Posted by lowside67 Didn't do L1, just went straight to L2... | Thanks.
Not sure if I feel comfortable with PAD straight from my bank account even if i do/do not authorize from their website.
I'm still waiting for L1 and it's taking long!!!
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11-28-2013, 01:10 PM
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#284 | | Old School RS
Join Date: May 2004 Location: Port Moody
Posts: 4,640
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Yeah I have a bank account that is a bit more insulated for that purpose.
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I'm old now - boring street cars and sweet race cars. | |
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11-28-2013, 02:05 PM
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#285 | | I Will not Admit my Addiction to RS
Join Date: Oct 2002 Location: Coquitlam, BC
Posts: 505
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Originally Posted by Presto I don't think it's worth the risk of getting transactions reversed to go the eBay/Paypal route. One scam could wipe out all your profits. | true in away, but I'm taking my precautions, hopefully I don't have to deal with that!
Just sold 10 LTC for $690 on eBay. After all fees, net $600usd, not bad
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11-28-2013, 02:13 PM
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#286 | | I have named my kids VIC and VLS
Join Date: Oct 2001
Posts: 39,479
Thanked 16,089 Times in 6,561 Posts
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Lol so much for NMC looks like a longer hold than expected bought in at 12.8  Posted via RS Mobile | |
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11-28-2013, 02:37 PM
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#287 | | I contribute to threads in the offtopic forum
Join Date: Aug 2002 Location: Vancouver
Posts: 2,641
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Setup to get lvl 2 verification on virtex a couple days ago....still nothing.
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11-28-2013, 04:04 PM
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#288 | | Need to Seek Professional Help
Join Date: Jun 2010 Location: Vancouver
Posts: 1,011
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hey all, regarding the ATM at Waves, is there a minimum to deposit?
FYI: I dont have a "wallet"
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11-28-2013, 04:34 PM
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#289 | | I have named my kids VIC and VLS
Join Date: Oct 2001
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Lol fuck spend too much time at work watching the markets, I'm thinking of rolling like skinny and sell off my LTC for BTC and prepare for a long term hold
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11-28-2013, 04:47 PM
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#290 | | Old School RS
Join Date: May 2004 Location: Port Moody
Posts: 4,640
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I am looking to buy a large lot of LTC at market prices, ideally close to 1000LTC, but would consider buying lots as small as 100, with cash or draft locally in Vancouver if anybody knows of anyone who would like to get cash which is a pretty tough gig these days.
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I'm old now - boring street cars and sweet race cars. | |
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11-28-2013, 05:54 PM
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#291 | | I want to be a person and not an icon.
Join Date: Jan 2010 Location: Mugello
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Wait till feather coin comes up hahahah
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11-28-2013, 09:04 PM
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#292 | | I have named my kids VIC and VLS
Join Date: Oct 2001
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Was thinking it kind of hurts to buy BTC at $950 when just last week I got one for $400, but I guess it's all relative when I'm selling LTC at $45 lol
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11-28-2013, 09:47 PM
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#293 | | My homepage has been set to RS
Join Date: Nov 2004 Location: Burnaby,BC
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i just read this thread... first time I've ever heard of these things... i still don't get what makes them worth money.
You guys are comparing them to foreign currency or to stocks on the exchange. To me, foreign currency is backed by governments, who have economies, which is why their currency is worth money.
stocks for various companies are worth money because the companies that sell stocks have some assets and profits which makes their stocks worth money.
What makes bitcoins worth money? Just because there's a limited number of them? What exactly are they? They aren't anything physical from what I understand like gold or diamonds, for example.
What about taxes? Do you guys declare the profits you make from trading these things? Are they considered investments by the CRA? I sure hope no one gets audited and fined for not paying taxes
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A car can be only 2 out of the 3.
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11-29-2013, 12:17 AM
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#294 | | My homepage has been set to RS
Join Date: Jun 2006 Location: Deutschland
Posts: 2,402
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Originally Posted by lowside67 LTC up over $38 on BTC-E... who feels like an idiot selling? This guy!! I have bought and sold 3 times today but keep getting out as it always seems "too good to be true" | Yeah, I feel the same. I had like 1200 LTC a few weeks ago, 30000 FTC and 5000 NMC. Had I just left it alone I'd have over $100,000 worth of coins.
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FOR SALE: 14'' MR2 MK1 wheels with 90% rubber $130, FD RX7 Transmission $200, Hitch Mount Snowboard/Ski rack w/ THULE clamps, locks $200. PM me for details!
If this is still in my sig, it's still avail.
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11-29-2013, 02:45 AM
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#295 | | I want to be a person and not an icon.
Join Date: Jan 2010 Location: Mugello
Posts: 4,179
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Originally Posted by falcon Yeah, I feel the same. I had like 1200 LTC a few weeks ago, 30000 FTC and 5000 NMC. Had I just left it alone I'd have over $100,000 worth of coins. |
over 60k worth of NMC -.- and FTC is not worth much so that's okay... 1200 LTC is 45,6 as well... damn.
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11-29-2013, 04:00 AM
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#296 | | Hacked RS to become a mod
Join Date: Feb 2002 Location: Sunny Hong Kong
Posts: 54,722
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Originally Posted by xpl0sive i just read this thread... first time I've ever heard of these things... i still don't get what makes them worth money.
You guys are comparing them to foreign currency or to stocks on the exchange. To me, foreign currency is backed by governments, who have economies, which is why their currency is worth money.
stocks for various companies are worth money because the companies that sell stocks have some assets and profits which makes their stocks worth money.
What makes bitcoins worth money? Just because there's a limited number of them? What exactly are they? They aren't anything physical from what I understand like gold or diamonds, for example.
What about taxes? Do you guys declare the profits you make from trading these things? Are they considered investments by the CRA? I sure hope no one gets audited and fined for not paying taxes | Hi Grandpa, let me explain some things  Quote: |
To me, foreign currency is backed by governments
| This is not always true. Currency treasuries are usually (but not always) separate from the government. Quote: |
who have economies, which is why their currency is worth money.
| Countries are not what make currencies "worth money". What makes something worth "money" is that you can exchange them for goods or services. If people don't want USD anymore, it isn't worth anything, even if it's money. Many currencies (often backed by governments) have gotten to the point where people don't want them anymore. At that point, they are only worth whatever material they are made with. Quote: |
What makes bitcoins worth money?
| The same thing that makes anything worth 'money'. You can buy stuff with them. Now it's brand new, so there's not much you can buy with it. But there are more and more stores that accept it as payment..
The other allure is the idea that the economy (that you seem to count on so much) is going to eventually crash, as we go through a paradigm shift. When that happens, people will need something to buy and spend with. For the last few thousands of years, it has been gold and precious metals. In this day and age, digital currency makes much more sense. Quote: |
What about taxes? Do you guys declare the profits you make from trading these things?
| For the people talking about their huge gains here, I sure hope they are declaring it
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11-29-2013, 07:07 AM
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#297 | | I keep RS good
Join Date: May 2001 Location: Cosmos
Posts: 28,736
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Originally Posted by xpl0sive They aren't anything physical from what I understand like gold or diamonds, for example. | if you can get over this idea, then you will understand it... you'll understand a lot more beyond bitcoin actually.
thing's dont have to be physical to be real. or to be worth something. things don't have to be tangible or "real" to be real.
just like how world of warcraft money is worth money. or items you find in game.
as long as there is a supply, and there is demand, then it is real, and worth something.
things don't have to be backed or anything.
sure bitcoin aint backed. but it's limited, and people can exchange it for stuff, it's in demand, and there's less of it than there is demand.
why is it any different than... USD? sure USD is backed by the govt.
but that's NOW. what if the US govt dissolves into nothing? another great empire takes over and USA is just a memory of the past.
you think USD will be worth anything?
u think it's worth something cuz it's backed NOW. when it's not backed, then it will have no demand and drop.
same as BTC. when people decide they don't want it any more for whatever possible reason, then demand will drop and the worth will go down.
like anything.
you're saying it doesnt make sense to invest cuz there's nothing backing it. yeah, maybe in the future, but it hasnt happened yet, and we don't know if it will happen.
all that matters is that there is demand NOW, and right NOW there is opportunity to make money off of it.
what happens LATER, is something for LATER.
like i said, you can invest in some government backed product X, but if tomorrow it suddenly isn't backed any more, or there's something better, you can be damn sure you'll dump it, because you feel it's got no value any more.
value isn't determined by just numbers and math. it's determined by individual humans.
you think snapchat is worth 4billion? is it real? it isnt even tangible. it could be worth nothing next week if everyone switches to something else. what "assets" does snapchat have? the program itself? ok... they probably have an office with office equipment... that's worth next to nothing. so what is the real worth? what makes it worth something?
ya get my drift?
another example can be intellectual property, that's not tangible, and yet it is worth something. why? there is demand for it. the technological/intellectual patents are WORTH something cuz people WANT it (for whatever reason, any reason will do).
you can say the same for art. art is even more "useless" than bitcoin. why is some picaso painting worth 10's of millions? what's it backed by? the material it's painted on isnt even worth 5 bucks.
it's just cuz people want it. and if i want it more than you and i have more money than you, then I make it worth that much more. and if the world agrees with me, then it is.
economics is subjective. non tangible. determined by human elements which are chaotic and unpredictable to a certain degree... nothing is "real".
Last edited by Ulic Qel-Droma; 11-29-2013 at 07:13 AM.
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11-29-2013, 10:22 AM
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#298 | | 14 dolla balla aint got nothing on me!
Join Date: Jun 2005 Location: pew pew lazer
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Problem with bitcoins and all cryptos at this point is that they are deflationary.
Cryptos are acting more like commodities instead of currencies which is leading to hyper deflation.
Bitcoins don't have any value outside of being a currency. It isn't gold and shouldn't be treated as such, currencies need to circulate to succeed. This is one of the biggest problems with bitcoins.
On a side note, it doesn't mean you can't make mad money speculating. I'll will buy all btc and ltc at market rate. Or conversely if you want to sell your stash in china, I can help you with that.
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11-29-2013, 10:24 AM
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#299 | | Old School RS
Join Date: May 2004 Location: Port Moody
Posts: 4,640
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LTC has had a pretty epic crash, unfortunately I hold some still, but that stuff is in for the long haul at this point so doing my best not to watch it. Cavirtex has a post on their homepage that they have extra staff working verifications right now so I am hoping that I get verified soon.
Cheers
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I'm old now - boring street cars and sweet race cars. | |
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11-29-2013, 11:12 AM
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#300 | | My homepage has been set to RS
Join Date: Jun 2006 Location: Deutschland
Posts: 2,402
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Originally Posted by Hondaracer Was thinking it kind of hurts to buy BTC at $950 when just last week I got one for $400, but I guess it's all relative when I'm selling LTC at $45 lol
Posted via RS Mobile | Hurts even more buying 13BTC for $3000 a few weeks ago, and now only having got 2.6BTC for the same $3000.
I took a gamble with FTC. It's the last crypto not to see a huge increase like LTC, NMC, PPC etc. So I bought a few thousand yesterday morning. So far I've doubled in value and it looks to be continuing to climb. Will it see $10 like NMC? Who knows, but NMC was $0.50 a week ago.
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FOR SALE: 14'' MR2 MK1 wheels with 90% rubber $130, FD RX7 Transmission $200, Hitch Mount Snowboard/Ski rack w/ THULE clamps, locks $200. PM me for details!
If this is still in my sig, it's still avail.
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