guy kills himself over bitcoin losses

[PR_Phil]

well not yet, but it is coming.

to many people playing with a significant portion of their life savings here, people will get rich, but many will loose it all.

I am not convinced it is over, or even that I will never invest in bitcoins, but i certainly wouldn't skip a mortgage payment to be able to invest more!

$95 right now

[2013]

fraaankkk

[~Ray]

dayum, oh, nev mind

[FreeHugeMovies]

Who has the link to the guy on reddit?

[- Jesus Christ -]

Originally Posted by PR_Phil

$95 right now

BTC-E's volume is low as shit
you'd push it to like 104 if you bought 100BTC

[PR_Phil]

Originally Posted by - Jesus Christ -

BTC-E's volume is low as shit
you'd push it to like 104 if you bought 100BTC

shit is all over the place, I get it, like I said, someday I may have money in BTC, but it would be money I didn't expect to get back. Not an investment, but a gamble, and I like to gamble now and then.

[seeandsee]

It's stronger than ever, says some brainless moron few hours ago

[- Jesus Christ -]

There were trades as low as $60 on BTC-E.

Longterm it looks a lot like an investment to me.

Splitting hairs.

[dyna mo]

Originally Posted by PR_Phil

to many people playing with a significant portion of their life savings here,

where did you get this info?

[lazycash]

I hope Franck sold his 1 bitcoin yesterday.

[PR_Phil]

Originally Posted by - Jesus Christ -

There were trades as low as $60 on BTC-E.

Longterm it looks a lot like an investment to me.

Splitting hairs.

It's looks like a graph of my success at the Black jack table, which I hardly call an investment. slow solid gains, then one day I hit it big, that night I went online and bought new golf clubs and started looking at new cars, next day I lost more than I had won the night before. this looks surprisingly similar, I bet there were guys out test driving exotics two days ago based on money they will never realize.

Anyways, I have no issues with those who are into BTC, not trying to bust anyones balls, or call anyone a fool, it's everyone's choice, and like I said, I may gamble some of my money on them at some point, I would just personally consider it a gambling.

[- Jesus Christ -]

Originally Posted by PR_Phil

It's looks like a graph of my success at the Black jack table

Stopped reading becasue you were intellectually dishonest in the first sentence.
Sorry.

[PR_Phil]

Originally Posted by dyna mo

where did you get this info?

I watch the news, not the GFY news, the one where they interview people quitting their jobs to work on their BTC mining set ups in their basements, people who are selling real investments to put money into this. People who have very little but scrape together what they can to give it a shot and just end up with a huge electricity bill.

again, not hating on BTC, I just know it will end very bad for some, but then lots of things end badly.

tomorrow they could go to $300, next week maybe $1000 but that wouldn't change the way I feel about them, because regardless of any real world factors, they could go to $60, or $20 just as easily.

[dyna mo]

Originally Posted by PR_Phil

It's looks like a graph of my success at the Black jack table, which I hardly call an investment. slow solid gains, then one day I hit it big, that night I went online and bought new golf clubs and started looking at new cars, next day I lost more than I had won the night before. this looks surprisingly similar, I bet there were guys out test driving exotics two days ago based on money they will never realize.

Anyways, I have no issues with those who are into BTC, not trying to bust anyones balls, or call anyone a fool, it's everyone's choice, and like I said, I may gamble some of my money on them at some point, I would just personally consider it a gambling.

it's a cryptocurrency currently being hoarded as an speculative venture.


Speculation is the practice of engaging in risky financial transactions in an attempt to profit from short or medium term fluctuations in the market value of a tradable good such as a financial instrument, rather than attempting to profit from the underlying financial attributes embodied in the instrument such as capital gains, interest, or dividends. Many speculators pay little attention to the fundamental value of a security and instead focus purely on price movements. Speculation can in principle involve any tradable good or financial instrument.

[PR_Glen]

Originally Posted by - Jesus Christ -

Stopped reading becasue you were intellectually dishonest in the first sentence.
Sorry.

its' all good, your ignorance is well stated around here anyway..

[DBS.US]

Simple Bitcoin Converter http://preev.com/

[PR_Phil]

Originally Posted by - Jesus Christ -

Stopped reading becasue you were intellectually dishonest in the first sentence.
Sorry.

that's fine, thanks for making it that far, I wish you the best with your coins.

I mean that part, I hope no one here looses their shirt on this.

[dyna mo]

Originally Posted by PR_Phil

I watch the news, not the GFY news, the one where they interview people quitting their jobs to work on their BTC mining set ups in their basements, people who are selling real investments to put money into this. People who have very little but scrape together what they can to give it a shot and just end up with a huge electricity bill.

again, not hating on BTC, I just know it will end very bad for some, but then lots of things end badly.

tomorrow they could go to $300, next week maybe $1000 but that wouldn't change the way I feel about them, because regardless of any real world factors, they could go to $60, or $20 just as easily.

much of that is very much like dirty f's original thread here about it, something along the lines of *i've studied btc for the last several days and i am putting everything in it.*

see what i am getting at?

[Jman]

GFY'er kills himself over bitcoin losses
-------------------------------------------

Here Phil fixed the Title for you

[- Jesus Christ -]

Originally Posted by PR_Glen

its' all good, your ignorance is well stated around here anyway..

Awww I have a fan. Adorable.

Originally Posted by PR_Phil

that's fine, thanks for making it that far, I wish you the best with your coins.
I mean that part, I hope no one here looses their shirt on this.

Thanks. I haven't put myself danger, but I am a huge fan of the actual technology behind this.

It's just super fatiguing having the same debates over and over about the fundamentals.

[Mark.Roy]

i just created google alert of this ;)

[Dirty F]

We have to wait and see what happens when mtgox starts trading again.
I hope they get their shit together in the meantime.
If they come back and go down again because of ddos and too many users then it's game over as far as i'm concerned.

[k0nr4d]

Originally Posted by Dirty F

We have to wait and see what happens when mtgox starts trading again.
I hope they get their shit together in the meantime.
If they come back and go down again because of ddos and too many users then it's game over as far as i'm concerned.

I'm gonna risk a few bucks too - not alot, waiting for my mtgox account to get funded with roughly $800. I figure it's enough to make a few bucks if it does good but not enough for me to really give a shit if i lose. Here's to hoping that I wake up to $40 bitcoins at mt.gox.

[Dirty F]

Originally Posted by k0nr4d

I'm gonna risk a few bucks too - not alot, waiting for my mtgox account to get funded with roughly $800. I figure it's enough to make a few bucks if it does good but not enough for me to really give a shit if i lose. Here's to hoping that I wake up to $40 bitcoins at mt.gox.

Buying when you can is good.
A lot of people will do this when mtgox comes back is my guess. Tons of people have been waiting for a price drop so they can buy in again.

[MikeRoth]

Any investment opportunity should be money you never expect to get back. That is kind of the definition of investing IMHO. I don't believe in long term investments because I think they are rarely profitable. I prefer to scalp, you get more consistent payouts and I think in the end you'll make a lot more too.

[Colmike9]

Originally Posted by Dirty F

We have to wait and see what happens when mtgox starts trading again.
I hope they get their shit together in the meantime.
If they come back and go down again because of ddos and too many users then it's game over as far as i'm concerned.

Last time was too many users:
"First of all we would like to reassure you but no we were not last night victim of a DDoS but instead victim of our own success!

Indeed the rather astonishing amount of new account opened in the last few days added to the existing one plus the number of trade made a huge impact on the overall system that started to lag. As expected in such situation people started to panic, started to sell Bitcoin in mass (Panic Sale) resulting in an increase of trade that ultimately froze the trade engine!"

[PR_Phil]

Originally Posted by - Jesus Christ -

Thanks. I haven't put myself danger, but I am a huge fan of the actual technology behind this.

I don't know anything about the technology, (well a little, but just a little) so I ask this honest question:

does all this power consumption accomplish anything? is the processing power being used to accomplish some goal, is it being resold, or is it just wasted power consumption?

[dyna mo]

Originally Posted by PR_Phil

I don't know anything about the technology, (well a little, but just a little) so I ask this honest question:

does all this power consumption accomplish anything? is the processing power being used to accomplish some goal, is it being resold, or is it just wasted power consumption?

i don't get it. what does all the power consumption of television accomplish.

why is btc held to some lofty goal like this?


fyi, it doesn't cure cancer either.

[- Jesus Christ -]

Originally Posted by PR_Phil

I don't know anything about the technology, (well a little, but just a little) so I ask this honest question:

does all this power consumption accomplish anything? is the processing power being used to accomplish some goal, is it being resold, or is it just wasted power consumption?

It's only used for securing the network.

[k0nr4d]

Originally Posted by Dirty F

Buying when you can is good.
A lot of people will do this when mtgox comes back is my guess. Tons of people have been waiting for a price drop so they can buy in again.

My wire probably won't clear until 6-8 hours after the market reopens unfortunately.

[NiXXiN]

i wonder how many people will kill themselfves when mtgox is back on

[CyberHustler]

Seems like I got in and out at perfect timing.

[Supz]

Originally Posted by CyberHustler

Seems like I got in and out at perfect timing.

Thats what I told her....