That'll depend on whether demand from China continues to increase, that appears to be what is driving these increases atm.

There was a couple of years ago but you need ASIC miners now to generate Bitcoins and even that's unprofitable for most.

Just as the financial world has multiple currencies like the pound, euro and dollar the online currencies are gonna have multiple main coins. There's a limited supply of BTC, believe LTC is on the same path as BTC was two years ago and will be added to trading portfolios in the near future.

It's over $600 now, $750 is possible...

Idiots guide to buying bitcoins?

Say I wanted to buy 1 bitcoin - how/where?

Let's say I wanted to sell 1 bitcoin - how/where?

One simple way is http://localbitcoins.com/

This marries together buyers and sellers with an escrow service.

https://localbitcoins.com/guides/security

Note that you will not get the absolute best price, but with all of the mucking around it may take to get USD into a proper exchange the price would have gone up by then anyway (ie buying it now at a 3% loss is better than buying it in a few days when the market rate has gone up by 10%...)

cheers :thumbsup

cheapest is $632 (converted from my GBP), how's that compare to the current 'real' price, just as a marker as to how much extra I'd be paying?

$USD632? That does seem a little on the high side. Even mtgox with their off with the fairies pretend USD is only selling for $599 right now.

This may help you decide what's worth it:

http://bitcoincharts.com/markets/currencies/

cheers :thumbsup

:1orglaugh:1orglaugh:1orglaugh

OMG this bitcoin thing is hilarious! its like magic beans LOL

theres never been anything like this before!!!!! (advanced sarcasm :1orglaugh )

*cough *cough ponzicoin!

If it hits 750 I am going to sell 500 of them and just laugh laugh laugh. If they hit 1000 or more oh well. I will still enjoy what it was worth

Good time to pick up some ltc now while its cheap :2 cents:

Where are you getting this information from? And what research backs up that information. We all know (or should know) that the US$ is pumped up by the Fed and not backed by gold and could be worthless one day. Why is BitCoin any better - it could be shut down by the Feds anytime. Tell me why I'm wrong.

That's what has always concerned me.

I'm glad you guys are getting some results from this though. I just hate to see anyone get burned.

You can't "shut down" a global open source protocol.
The feds are impotent. Time to grow up children.

Quite recently China basically green lit these digital currencies with a number of programs about it on their state run TV stations. After this... interest from China started going through the roof.

The biggest ASIC company is based in China, very soon the biggest Bitcoin exchange will be based in China - btcchina.com

The US can control and pressurize most countries around the world but not China, now that China is on board there's no stopping it.

That would be because China is the Master of the US - we're just too arrogant to see or acknowledge that.

Hadn't heard about the Chinese involvement - that certainly helps explain the large upswing in price.

Cashing out of bitcoins is a major problem, there have to be many many people now who have hundreds of thousands of dollars worth in btc, many with millions of dollars worth, turning $500K of bitcoins into cash seems extremely difficult - you will need to find a bitcoin buyer who will deliver to you in person a briefcase of cash, or transfer real estate to you, deliver $500K worth of drugs, or physical gold - risky since the person you are dealing with is most likely a criminal of some sort.

Probably a good business to be made out of facilitating big dollar btc<------> cash transactions - take 10% commission on each deal.

Or get a wire transfer from an exchange

what do you mean ?

are there no services for cashing btc ? like i pay btc they pay me by wire or something similar.

Live coverage on digital currency's http://www.c-span.org/Live-Video/C-SPAN3/

Fincen and other agencies are saying their main concern is money laundering. They don't have any problem with people legally using bitcoin and other virtual currencies.

The hearing is still going on live http://www.c-span.org/Live-Video/C-SPAN3

so far so good :thumbsup

Hmmm
http://i.imgur.com/01v8pRP.jpg


and btc china hit 5000 yuan = $820 USD

tons of services will do that but if someone tries to cash out millions in bitcoin right now you will be hard pressed to find an exchange to do it

nows the time to buy. BUY BUY BUY~!

:1orglaugh:1orglaugh:1orglaugh:1orglaugh:1orglaugh :1orglaugh

You have no fuckin idea what they can or can't do. You hope they can't. But what they can do, they are about to start doing.

Bitcoin Goes to Washington: Monday?s Hearing Is Just the Beginning

I hope u guys purchased litecoins when i mentioned in another thread They are now up to $8.68 :)

bleh I just sold my small bitcoin holding. Shit be cray cray.

More and more people are selling them on ebay now

That's assuming they have a sufficiently large order book to be able to handle a large sale. It's unlikely you'll be able to sell all of your BTC at the top rate so the average price is going to be lower.

Have noticed that some of the guys on localbitcoins have upper limits in the 5 figures (ie, they can pay you 5 figures in cash). You'd probably do better trading privately if you want to cash out, rather than using an exchange.

Mutt, cashing out of BTC from an exchange is a 2 click step and your money arrives about 3-4 days later :)

(Except for mtgox, they are having problems now for long long time)

Still laughing?

Sell!!!!!

This is just crazy , lol

15K spent on ltc when it was 90 cents to 1.12 cents. Just think if it hit 100 dollars

If my math is correct that would be around 1.5 million litecoin?

doesn't it rely on them having someone wanting to buy at that price? if they have no one to buy, you can't sell.

Clearly a Bubble...

Price will go down like a Rollercoaster soon or late.