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BitCoin - Intellectual Fraud or a Stunning Idea??
- Thread starter gmst
- Start date
Pretty much your whole point is, "can't really use it good till it costs more." So, I'll sell now.
If you can get instant BTC/USD transactions, I don't see why the price of BTC matters at all (from the sellers perspective).
But you are right. You probably should have sold, really. I am in it for the long haul, but I can't afford to buy more than 1 BTC at a time anymore. I am priced out of the game, totally.
look what i just found
http://www.bit4x.com/
quote from the site:
Current Bitcoin exchange rates won't affect your trading limits. With the minimum deposit for opening a Live account, 20 BTC (200 dBTC) and 1:10 leverage you can trade up to 0.5 lot. With the same deposit and 1:100 leverage you can trade up to 5 lot and so on. We offer leverage ranging from 1:1 to 1:1000, but we strongly recommend below 1:50 for novice traders. You can change the leverage of your account at any time or open several accounts, if you are in need of more than one leverage option. Please check the FAQ for details.
end/quote
does that mean i can nearly double the leverage ? when trading with bitcoins ???
i mean 0.5 lot with 20 BTC =2800 usd (1 btc = 140 usd) on a 1:10 lev.???
http://www.bit4x.com/
quote from the site:
Current Bitcoin exchange rates won't affect your trading limits. With the minimum deposit for opening a Live account, 20 BTC (200 dBTC) and 1:10 leverage you can trade up to 0.5 lot. With the same deposit and 1:100 leverage you can trade up to 5 lot and so on. We offer leverage ranging from 1:1 to 1:1000, but we strongly recommend below 1:50 for novice traders. You can change the leverage of your account at any time or open several accounts, if you are in need of more than one leverage option. Please check the FAQ for details.
end/quote
does that mean i can nearly double the leverage ? when trading with bitcoins ???
i mean 0.5 lot with 20 BTC =2800 usd (1 btc = 140 usd) on a 1:10 lev.???
Quote from Algo_Design_Kid:
Pretty much your whole point is, "can't really use it good till it costs more." So, I'll sell now.
If you can get instant BTC/USD transactions, I don't see why the price of BTC matters at all (from the sellers perspective).
But you are right. You probably should have sold, really. I am in it for the long haul, but I can't afford to buy more than 1 BTC at a time anymore. I am priced out of the game, totally.
The advantages of BTC are the decentralized, "hands off, f*ckers" nature of the beast. The downside is the fact that it isn't fiat. When it becomes an investment vehicle it loses a lot of utility, IMO. Trade gold if you want that position.
I am not stating that you're dumb for staying in as I wish I had the stones to hold it. I just can't reconcile it as it becomes real money.
haha looks like it
So, some stats for the new guys:
BTC current value = USD 120-140 per BTC
Total number of BTC in circulation today = 11 million.
So, total notional of BTC in circulation today = 1.2-1.5 billion
BTC can be mined using idle computing power. So, if I understand correctly, it is possible to use your home computer in the night and instead of participating in SETI project, participate in running some software - which will earn you some BTC.
My question - if I run my computer for 12 hours everyday for 1 month, how many BTC would accrue to me? I hope this question makes sense - if not please correct me.
BTC current value = USD 120-140 per BTC
Total number of BTC in circulation today = 11 million.
So, total notional of BTC in circulation today = 1.2-1.5 billion
BTC can be mined using idle computing power. So, if I understand correctly, it is possible to use your home computer in the night and instead of participating in SETI project, participate in running some software - which will earn you some BTC.
My question - if I run my computer for 12 hours everyday for 1 month, how many BTC would accrue to me? I hope this question makes sense - if not please correct me.
I don't really understand this point: what's the benefit of BTC's decentralized nature that's not solved (better) than a suitcase full of cash?
To wit: anytime BTC interacts with the real world, it ceases to be decentralized. Financial transactions in BTC is subject to the same reporting rules as normal currencies (as is gold, cars, etc). And, importantly (not sure if you are aware of this) - BTC is NOT by design anonymous. All BTC transactions can be traced and tracked.
So, in the real world, if BTC were widely used it would lose all these 'benefits'.
Why are we trading around prime numbers again?
good start for BTC newbs .. just like me..
https://bitcointalk.org/index.php?topic=9430.0
btw. be carefull buying miners .. especially Butterfly .. they fail to deliver !
https://bitcointalk.org/index.php?topic=9430.0
btw. be carefull buying miners .. especially Butterfly .. they fail to deliver !
After I looked into it, the time for amateur miners has come and gone. The total pool hashrate for bitcoin is approaching a Petahash. That's 1,000,000 times the size of a gigahash (the average amateur rig). There's only two companies that sell ASIC miners (GPUs that can process at gigahash level). One is back-ordered for months (Avalon). The other - Butterfly - has taken millions in preorders (some say 100 million), but haven't delivered a single rig. Their website recently changed today, with the 50 gigahash machine retailing for twice the price it was listed yesterday. Much of the community thinks it's scam. Realistically, without access to key hardware suppliers and real tech savvy to put it all together, this ship has sailed. The hardware retailers have no real incentive to sell to the public anyway. The Avalons are making their money back within a few weeks (at ~1800 purchase price). Why sell the hardware when you can run it yourself at a huge profit? Check out ebay. The Avalons sell for 20 grand (retail price 1800$).
All those mining pools have access to ASIC chips/supercomputers/big IT guys, and they're not sharing. I was about to buy a couple miners yesterday, but there's absolutely zero supply on the market. It seems like great fun though. Wish I got into it sooner. It's really a game for techies.
All those mining pools have access to ASIC chips/supercomputers/big IT guys, and they're not sharing. I was about to buy a couple miners yesterday, but there's absolutely zero supply on the market. It seems like great fun though. Wish I got into it sooner. It's really a game for techies.