Bitcoin just hit $500.... - Page 2 - GoFuckYourself.com

Penny24Seven · 11-18-2013, 08:49 AM

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

TampaToker · 11-18-2013, 08:53 AM

Good time to pick up some ltc now while its cheap

RandyRandy · 11-18-2013, 09:02 AM

Quote:

Originally Posted by TampaToker

Should be $750 by the end of the week

Quote:

Originally Posted by TampaToker

laugh all you want but we could see $1500 by the end of the year

Quote:

Originally Posted by dave90210

They say it could easily reach $10,000 to $100,000 within a year

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.

PR_Glen · 11-18-2013, 09:09 AM

Quote:

Originally Posted by RandyRandy

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.

- Jesus Christ - · 11-18-2013, 09:34 AM

Quote:

Originally Posted by RandyRandy

it could be shut down by the Feds anytime.

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

Paul · 11-18-2013, 09:35 AM

Quote:

Originally Posted by RandyRandy

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.

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.

RandyRandy · 11-18-2013, 09:41 AM

Quote:

Originally Posted by Paul

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.

Mutt · 11-18-2013, 09:42 AM

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.

AllAboutCams · 11-18-2013, 09:56 AM

Quote:

Originally Posted by Mutt

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

freecartoonporn · 11-18-2013, 10:29 AM

Quote:

Originally Posted by Mutt

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.

what do you mean ?

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

TampaToker · 11-18-2013, 12:55 PM

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

Coup · 11-18-2013, 01:05 PM

BUY! BUY! BUY!

420 · 11-18-2013, 01:51 PM

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

TampaToker · 11-18-2013, 02:00 PM

Quote:

Originally Posted by 420

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

420 · 11-18-2013, 02:23 PM

Hmmm

and btc china hit 5000 yuan = $820 USD

Chris · 11-18-2013, 02:34 PM

Quote:

Originally Posted by freecartoonporn

what do you mean ?

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

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

Coup · 11-18-2013, 02:48 PM

Quote:

Originally Posted by 420

Hmmm

and btc china hit 5000 yuan = $820 USD

nows the time to buy. BUY BUY BUY~!

ilnjscb · 11-18-2013, 03:04 PM

Quote:

Originally Posted by - Jesus Christ -

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

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

halfpint · 11-18-2013, 04:12 PM

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

bhutocracy · 11-18-2013, 04:20 PM

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

halfpint · 11-18-2013, 04:20 PM

Quote:

Originally Posted by Chris

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

More and more people are selling them on ebay now

rowan · 11-18-2013, 05:35 PM

Quote:

Originally Posted by AllAboutCams

Or get a wire transfer from an exchange

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.

jscott · 11-18-2013, 09:11 PM

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)

Emil · 11-19-2013, 03:38 AM

Quote:

Originally Posted by Harmon

Still laughing?

Emil · 11-19-2013, 05:29 AM

Sell!!!!!

Lykos · 11-19-2013, 09:19 AM

This is just crazy , lol

Penny24Seven · 11-19-2013, 09:23 AM

Quote:

Originally Posted by halfpint

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

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

Paul · 11-19-2013, 12:08 PM

Quote:

Originally Posted by Brian837

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?

BlackCrayon · 11-19-2013, 12:35 PM

Quote:

Originally Posted by jscott

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)

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.

TumblrPRO · 11-19-2013, 02:51 PM

Clearly a Bubble...

Price will go down like a Rollercoaster soon or late.

PornDiscounts-V · 11-19-2013, 03:54 PM

Quote:

Originally Posted by crucifissio

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

theres never been anything like this before!!!!! (advanced sarcasm

)

*cough *cough ponzicoin!

That would be like saying Gold is a Ponzi scheme as well.

jscott · 11-19-2013, 11:44 PM

Quote:

Originally Posted by BlackCrayon

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.

Nope, I click sell/buy, and directly after I get confirmation that I've bought/sold at x price and if bought, the coins in my exchange few days later, or if sold, the $ in my bank few days later

rowan · 11-20-2013, 02:11 AM

Quote:

Originally Posted by jscott

Nope, I click sell/buy, and directly after I get confirmation that I've bought/sold at x price and if bought, the coins in my exchange few days later, or if sold, the $ in my bank few days later

You still need open orders (from others) to be able to fill your buy or sell request.

If the "current" BTC price is $500 then there's no way you'd be able to offload (say) 100 BTC at $500 each...

jscott · 11-20-2013, 04:38 AM

True but my exchange limits me to 50 per day, and every time all my orders have been full-fulled whether I'm buying or selling

11-18-2013, 08:49 AM	#51
Penny24Seven So Fucking What Industry Role: Join Date: Jun 2007 Location: USA Posts: 6,287	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 __________________ Our site is coming soon. It will be one of the best ever! I know so. Brian and Penny

11-18-2013, 08:53 AM	#52
TampaToker Confirmed User Join Date: May 2006 Location: Tampa Posts: 5,827	Good time to pick up some ltc now while its cheap __________________ Icq 247-742-205

11-18-2013, 09:42 AM	#58
Mutt Too lazy to set a custom title Industry Role: Join Date: Sep 2002 Posts: 34,431	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. __________________ I moved my sites to Vacares Hosting. I've saved money, my hair is thicker, lost some weight too! Thanks Sly!

11-18-2013, 12:55 PM	#61
TampaToker Confirmed User Join Date: May 2006 Location: Tampa Posts: 5,827	Live coverage on digital currency's http://www.c-span.org/Live-Video/C-SPAN3/ __________________ Icq 247-742-205

11-18-2013, 01:51 PM	#63
420 cuck Industry Role: Join Date: Mar 2003 Posts: 11,571	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 __________________ <!--BEGIN SIMUTRONICS PLAY BUTTON CODE --> <p align="center"> <a href="http://buddy.play.net/dr?TMOREAU1"> <img src="drplay.gif" width="128" height="64" alt="Play DragonRealms!"></a></p> <!--END SIMUTRONICS PLAY BUTTON CODE -->

11-18-2013, 01:05 PM	#62
Coup 🚨 PBBC International 🚨 Industry Role: Join Date: Apr 2010 Location: /👁\ Posts: 9,931	BUY! BUY! BUY!

11-18-2013, 02:23 PM	#65
420 cuck Industry Role: Join Date: Mar 2003 Posts: 11,571	Hmmm and btc china hit 5000 yuan = $820 USD __________________ <!--BEGIN SIMUTRONICS PLAY BUTTON CODE --> <p align="center"> <a href="http://buddy.play.net/dr?TMOREAU1"> <img src="drplay.gif" width="128" height="64" alt="Play DragonRealms!"></a></p> <!--END SIMUTRONICS PLAY BUTTON CODE -->

11-18-2013, 04:12 PM	#69
halfpint GFY's Halfpint Industry Role: Join Date: Jun 2007 Location: UK Posts: 15,223	I hope u guys purchased litecoins when i mentioned in another thread They are now up to $8.68 __________________ Get FREE website listings on Cryptocoinshops.net

11-18-2013, 04:20 PM	#70
bhutocracy Not making A Comeback Industry Role: Join Date: Dec 2001 Posts: 10,218	bleh I just sold my small bitcoin holding. Shit be cray cray.

11-18-2013, 09:11 PM	#73
jscott So Fucking Banned Industry Role: Join Date: Feb 2001 Location: Taipei Posts: 25,198	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)

11-19-2013, 05:29 AM	#75
Emil Confirmed User Join Date: Feb 2007 Location: Sweden Posts: 5,650	Sell!!!!! __________________ Free 🅑🅘🅣🅒🅞🅘🅝🅢 Every Hour (Yes, really. Free ₿itCoins.) (Signup with ONLY your Email and Password. You can also refer people and get even more.)

11-19-2013, 09:19 AM	#76
Lykos Too lazy to set a custom title Industry Role: Join Date: Apr 2003 Location: World Posts: 31,027	This is just crazy , lol __________________

11-19-2013, 02:51 PM	#80
TumblrPRO So Fucking Banned Industry Role: Join Date: Aug 2013 Location: Earth Posts: 296	Clearly a Bubble... Price will go down like a Rollercoaster soon or late.

11-20-2013, 04:38 AM	#84
jscott So Fucking Banned Industry Role: Join Date: Feb 2001 Location: Taipei Posts: 25,198	True but my exchange limits me to 50 per day, and every time all my orders have been full-fulled whether I'm buying or selling