This is so true but i did jump on litecoins a month ago bought 6 rigs for around 10k
So far i produced 1693.86 and sold them all for 4.00 plus each. So i have got back
close to 70% of my investment. So from yesterday on i am holding on to the coins
and hopefully 6-8 months from now they will shoot up to the $40+ range each.

I remember a guy having over 100,000 coins back in 2011, I'm sure he's got a lot more than that by now though. I want to say it was Bruce Wagner but I don't remember.

hahah that was me I guess. It was like $94 when I sold most of mine. I still doubled my money though. I kept some and they more than doubled since then, so I can't complain.

I have nearly 25 left
http://i.imgur.com/iwTrp6b.png

Which if I would sell them right now at $218 would be around $5400

http://i.imgur.com/1xQLOPQ.png

I had quite some more but sold them too early.

Funny how people said the same thing when they were 50 dollars.

:Oh crap

Nice! What do you think will be the next currency to get in on after Litecoin start to increase in value?

Seriously, one.

MyBitcoin was the online wallet service a lot of people used back then. Me being one of them. The site was reportedly "hacked" or the owner of the site pulled a scam and ran off with half of the bitcoins. I can't find any information on the amount of bitcoins that were stolen in that incident but you can make some rough calculations, the site housed something like 50,000 accounts and each account had anywhere from 100 to 25,000 bitcoins each. Bruce Wagner was believed to have a part in the scam, he promoted the hell out of the service, he was a big supporter and early adopter of bitcoin so he had a ton of bitcoins to begin with, even had his own little bitcoin show and everything.

There have been scams on SilkRoad also where vendors have achieved 99% positive feedback and became the most reputable vendor on the site (Tony76), then up and vanished after collecting customers bitcoins for a few weeks and not sending the product. The moderators said he had stolen around $250,000 worth of bitcoins.

Hey, did i ever claim anything else?

Bitfloor having delays see their twitter. Try local bitcoins.com

50 internet imaginary coins

If i cash out my coin now will i get 220 imaginary dollars?

Oh I just found a screenshot from almost exactly 2 years ago.
600 bitcoins and $700 in cash in my account. With bitcoin price at around $5.

http://i.imgur.com/QXfE9Ekl.png

haha Bruce Wagner actually lost his coins cause he had them on "mybitcoin.com" when they got hacked.

I think he got a few back

1 narrow minded idiot.

I don't really know. The owner of mybitcoin was "Tom Williams" but there was some possible evidence that it was actually Bruce Wagner under a false identity. If that was the case, of course Bruce would say he fell victim to said "hack/scam" to cover his ass.

Up to $223 now...when's the bubble going to pop?

You will get 220 REAL dollars for 1 IMAGINARY coin :thumbsup
And all thanks to morons who decided to attribute real value to play money :)

I'd be ok with bit coin investors if they viewed it like any other traditional investment like stocks and bonds. But instead it seems to be mostly a bunch of clueless people that are just like OMG it's gonna up forever. Sure people are making money but at some point it will stabilize or crash and fucking burn and then there is going to be a bunch of sad poor people that probably lost their house already a few years ago too thinking that bubble would go up forever too

when $100k of bitcoins can be thrown on the market and there are buyers, it will take a while. Supply and demand are miles apart atm

http://i.imgur.com/cjI9ZaT.png

i wonder.

since dirty f's 1st thread on this, i've spent most of my time on it just learning as much as i can about it all, i thankfully set my accounts up back then and bought 3 btc which i sold ~2 weeks ago with the thinking that the price would fall & i will rebuy. but the dang price keeps going up!

so now i have my accounts funded with a bit of usd and plan to buy with that when the price drops. it has to drop right? :1orglaugh i mean the curve is almost (is?) completely vertical!!

Where is the best place to keep your BTCs or LTCs? I've been reading up on Electrum, would you recommend it? Or can anyone recommend something better?

is part of that due to mtgox stalling on approving increasing account transaction amounts? i.e., if all the people who wanted to cash out now could, would that be enough to cover demand?

Wow. Hope he still has them.

*vomit*

Ya never know. If you held them too long you may have lost them all. That's the risk with investing and gambling.

We're all morons really. Right?

to be absolutely completely safe, a paper wallet

https://blockchain.info/wallet/paper-tutorial

On your computer.

Well actually check this: https://en.bitcoin.it/wiki/Paper_wallet

as it would drive the price down like crazy, people who feel they had missed the train would jump on the oppertunity to buy bitcoins cheap.

rinse and repeat

The demand reminds me of Gold back in October 2008 when a lot of investors thought the global banking system was about to implode. People where paying crazy amounts above the spot price to get their hands on some physical gold

Just going by my gut feeling, Bruce nor his Boyfriend were smart enough to run something like that. (not programmers or anything) Weather they knew the guy involved might be another story.

it's odd you continue to trash this. like it or not, understand it or not, participate in it or not, it's on. it's happening, the results are being determined right now in real time. billions of dollars are being exchanged, corporations are eyeing it and planning out strategies on whether to embrace it or not based on how it goes.

this is a fantastic opportunity to not only watch a social experiment play out live, but to participate in it as well, support it, learn about it.

i had originally thought most around here would be truly slack-jawed at what is happening with this. this is a huge social experiment that makes facebook look like an elementary school playground.

Much appreciated! :pimp

someone just bought 73.55BTC @ 223.000
so there is enough demand

a logjam on all of this for me was figuring out how to keep my btc safe while reinvesting them- in order to feel safe, i need to offload any btc out of my online account, due to the current security issues, that makes it tough to buy more with the returns, so i now just calculate the cash equivalent when i cash out and then fund my dwolla account back with that amount.

dwolla is taking 5 days to clear funding, so i have to keep that delay in mind too.

Totally agree, I've read a lot about this thing in the past few weeks. I don't fully understand it but on the numerous threads I've read on different forums you have the haters and many keep saying that it's a Ponzi scheme and people are going to lose their life savings etc

Yet I think I've read in total about 2 individuals actually putting everything into this, most ordinary people are putting small amounts of money into this and seeing where it goes, if it crashes in value tomorrow the haters will have a field day, hence why Franck is saying he only has one coin IMO :winkwink: But you know what, I doubt most people getting involved in this are gonna lose their shirt.

Ironic really because we're living through a global depression right now and millions of people actually have lost everything, many of whom decided to be brainwashed by a housing boom created by investment bankers and actually invested every penny they had into that Ponzi Scheme.

a recently approved account?

5 Days! :disgust Is there anything faster?

speculating on btc in any amount is the ultimate "put your money where your mouth is" as opposed to btc detractors........

it ain;t purdy!


http://nymag.com/daily/intelligencer...a-bitcoin.html