Bitcoin thread anyone?

Quote from traitor786:

I see 2 weeks on the chart one of which is flat at 6 cents and the other jumps to 40 cents.
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OK, the charts are a bit confusing, and I misread it too, so let's correct the numbers. We are talking about the 3rd chart, on the bottom of the site, with 2 lines on it.

The green line is the LTC/dollar value and it went from 6 cents to 41 cents, so that is an almost 600% increase in 2 weeks, not 900% as I said earlier. Most of the increase came in the last week. Still pretty decent, I should say... :)
The yellow line is the 100 LTC/BTC exchange. That went from 0.22 to 0.91, that is a 310% jump. It is less, because BTC also went up in the last 2 weeks.

The bottomline is, LTC is at the phase now where BTC was back in 2010, when nobody heard about it and you could mine 100-500 coins a day, and the originators where pilling up the shit like crazy, making it the perfect Ponzi...

So if you have an extra hundred bucks, throw at LTC, and wait a few months...
 
Quote from Random.Capital:

There is no "Satoshi Nakamoto". For all we know, this is a scam run by Islamic terrorists to help launder money.
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It could be terrorism, either American or Islamic. Hard to tell but they Islamic ones have been fairly quiet this decade. But it is terrorizing isn't it? all this bit coins.

Maybe focus on your back yard a bit. Sorry to go off topic. I really want to know though if the cost of mining is greater then the cost to run the miner.

Also can you use more yellow and black wires. the red an blue just seem more like diverting power to different resources. Even though this may be what you want to do with the computer, a 2 tone wire system that is made to look like a single big wire will definatley increase sales. Personally I dont think the American version should have a screen. It should also have a bigger foot print.
 
Quote from achilles28:

Get out while you still can. I had a feeling this would happen.

Web Money Gets Laundering Rule
http://online.wsj.com/article/SB10001424127887324373204578374611351125202.html?mod=djemalertNEWS
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Mt. Gox, the major exchange, has had AML and KYC rules in place for quite some time.. This is nothing new really from what I understand after reading about it a few days ago. There are still multiple ways to remain anonymous for obtaining and maintaining bitcoin. Really hasn't done a thing to the price anyway, it has gone up since the initial report came out, regardless.

Sitting at 71.xx right now.. feels good to be on the right side of something for a change.
 
How merchants deal with the extreme price fluctuations? Just on Friday, the price range was 74$ to 52$. (closing around $67)

If I am a merchant I have better things to do then to check the currency levels in every minute. A little movement is OK, but 30+% swings a day???

Live chart, second from the top:

http://www.bitcoinbullbear.com/
 
Quote from Pekelo:

How merchants deal with the extreme price fluctuations? Just on Friday, the price range was 74$ to 52$. (closing around $67)

If I am a merchant I have better things to do then to check the currency levels in every minute. A little movement is OK, but 30+% swings a day???

Live chart, second from the top:

http://www.bitcoinbullbear.com/
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if it is converted immediately what is the difference if the price changes? You are still accepting the btc / us dollar conversion at the pos time. you do not have to hold on to the btc for a certain amt. of time before exchanging it.
 
Quote from Algo_Design_Kid:

if it is converted immediately what is the difference if the price changes?
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First, the exchange isn't fast (even 5 minutes can cause a loss for me), second if I keep converting it all the time, what's the point of using it? Why not just use dollars then? Not to mention wiring money from Mt. Gox costs $15 each time...

Hell, I could be selling products for Albanian Lek, if I convert it right away, but I might as well just skip the whole conversion business and use dollars...
 
Quote from Pekelo:

First, the exchange isn't fast (even 5 minutes can cause a loss for me), second if I keep converting it all the time, what's the point of using it? Why not just use dollars then? Not to mention wiring money from Mt. Gox costs $15 each time...

Hell, I could be selling products for Albanian Lek, if I convert it right away, but I might as well just skip the whole conversion business and use dollars...
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You don't need to use Mt Gox. There are other options for merchants like BitPay etc. I agree, there needs to be greater competition for that market. There is already a handful of companies starting up to compete with them that have been successful in the short term.

Anyway, I believe as adoption continues to grow these problems will start to minimize in the future. Think about obtaining bitcoins in 2011, it was very difficult in the first place, or at least was for me. There are so many other options now.
 
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