REVscene Automotive Forum - Bitcoins anyone?

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Pick up some 280x's?

So how was the group buy? Which company did you guys end up with?

"@News1130radio: Pay for a Fraser Valley condo with Bitcoins. Local developer accepting the virtual currency as money down on 400 condos in Abby and PoCo."
Posted via RS Mobile

Smart, gain some free publicity on these condos by accepting Bitcoin

i'll just leave this here.

market psychology
http://www.subastapiso.com/wp-conten...s-09.46.57.png

http://i.imgur.com/hSkRCeT.png
see a familiar pattern?

when the masses "adopt", it's usually a bad sign.

of course i could be wrong. if the pattern breaks then i'm wrong. but it's following pretty closely so far.

disclaimer: patterns don't follow 100%, give it some flex room. bitcoins are more volatile so expect the patterns to be more exaggerated.

You could also zoom into that little blimp about midway and it might look a bit like the 'market psychology' with the real "New Paradigm!!!" jump still to come!

The currency is still in its very early stages with its real uses and applications to be put into full use.

the easy money has already been made in bitcoin. don't kid yourself if you thinking people who bought bitcoin under $100 or even $10 and going to hold onto to them forever. the very same people who are telling you all the great things about bitcoin are also hitting the bids on the open market at the same time. of course now we just have a bunch of johnny-come-lately who probably had no prior investment experiences in their life coming to the party hoping to get rich quick off this 21st century tulip bubble.

Quote:

Originally Posted by Ulic Qel-Droma (Post 8400746)

Bitcoin (2 months) and Gold (10 years)

http://i.imgur.com/m8Q8wAY.jpg

I guess the trend is the same, and neither will be worth much in the end. The masses have adopted both already. Buy RMB!

I see a lot of comparisons of bitcoins and gold (not on rs) and they don't make sense to me.
Gold you can actually use to make things ie jewelry and dental fillings. how does bitcoin compare unless you talk about gold as a currency only and only paper gold not bullion

You can make jewelry and dental fillings from other things, not just gold. So that argument doesn't hold any weight.

But no, they aren't directly comparable in any precise way. It just makes it easier to explain Bitcoin as something without any intrinsic value (I don't consider jewelry or dental filling applications as being the main factor of the price of gold) that people want to have.

Quote:

Originally Posted by SkinnyPupp (Post 8401097)

Bitcoin (2 months) and Gold (10 years)

http://i.imgur.com/m8Q8wAY.jpg

I guess the trend is the same, and neither will be worth much in the end. The masses have adopted both already. Buy RMB!

patterns are fractal in nature. every time frame you go into, whether it be 1 minute or 1000 years, you will see the same patterns emerge.

sure gold 10 year looks the same. vs 2 months. but gold IS and has going down. based on the same pattern, which is based on human psychology/action.

the pattern will finish before the next pattern is established, so just expect a big fall first. all we're doing is predicting the next step... not the next 10 steps. if the next step is a fall, and you can't hold through the fall, then there's no point predicting the step after.

it's like sailing the high seas. guys like buffet can hold through whatever the seas throw at him. he's super long term and has huge positions. but small timers (99% of everyone else), cant hold through those waves. they're sailing high seas with pond boats. fear and greed will kill them when the markets move that much. their little boats will be sunk.

markets are dictated by human action, the patterns don't represent some mathematical magic crap. it's just graphing the nature/action of humans correlated to a certain "market".

people never change.

Quote:

Federal authorities hauled in 29,655 units of the digital currency - worth $27 million at current exchange rates - through an official forfeiture by Bitcoin this week.
The bitcoins had belonged to Silk Road, an anonymous online black market that authorities say was a conduit for purchases of drugs and computer hacking services - even a place where assassins may have advertised. It was shuttered after an FBI raid in September, when agents took control of its server and arrested the man they say was its founder in San Francisco.
No one stepped forward to claim these bitcoins, which were found in electronic "wallets" used to store the digital currency. An additional 144,336 bitcoins, worth more than $128 million today, were also discovered, but the government's claim on them is being disputed by Ross William Ulbricht, 29, who U.S. authorities say was the founder and main operator of Silk Road. They had been stashed on his laptop.
It all puts authorities in an unusual position, given their concerns about the way in which bitcoins and other digital currencies are used by criminals to circumvent regulations intended to prevent money laundering. By trading in bitcoins, the government could give the currency some legitimacy.
Bitcoin is essentially software code that defines units of value, which users can move back and forth among themselves. Unlike other virtual money transmitters, its value isn't pegged to a hard currency like the dollar or the euro; it is determined by the demand for bitcoins.
The U.S. Marshals Service, which is in charge of liquidating such seized assets, will have to decide whether to sell the units on a Bitcoin exchange or find a private buyer, perhaps through an auction.
A spokeswoman for Preet Bharara, the U.S. Attorney for New York's Southern District, said Friday that the government is still trying to decide what to do with the forfeited bitcoins.

http://www.reuters.com/article/2014/...A0G1K920140117

The feds shouldn't do ANYTHING with the forfeited bitcoins, since the guy hasn't even been convicted yet.

i hope the US Govn sells them all and keeps the money, hopefully driving the price down in the process

Scramento kings taking BTC at their arena
Posted via RS Mobile

any traders here? I do some trading on localbitcoins under the same username as here

I'm looking to sell a bit to pay my mining electricity bill... Does localbitcoins charge a fee? If so maybe we can do it outside the site.. PM me if you're interested in buying about $150 worth of BTC or LTC

Quote:

Originally Posted by SkinnyPupp (Post 8402123)

Yea, there is a small 1% fee I think or 0.001 BTC not sure which. But we can do outside of that if you are willing to meet up. PM me.

Anyone have bitcoins or litecoins? only need like 400 worth.

^ Shit, friend just sold $3000 worth to ATM Machine today :(

been look all morning ^ :/ to trade for dogecoins.
Posted via RS Mobile

Quote:

Originally Posted by Gerbs (Post 8403314)

been look all morning ^ :/ to trade for dogecoins.
Posted via RS Mobile

I can help you out. Go to localbitcoins.com and look for me 'nssan' . Contact me there