Bitcoins are officially donkdown

[BeerAndPoker]

So when is the next crash?

[Sanlmar]

So when is the next crash?

No worries, they will land on their feet.

[DirtyB]

That's probably not impacting the price since it only exists in your head.

Sarcasm, my man, sarcasm.

I thought you were being sarcastic. So you were being double reverse sarcastic?

[Baron Von Strucker]

Worlds first bitcoin ATM opens in vancouver


http://www.cbc.ca/news/technology/wo...uver-1.2286877

An ATM that converts bitcoins to Canadian dollars and vice versa opened for business in a Vancouver coffee shop today, marking a world first.​

The kiosk, located inside Waves Coffee House at Howe and Smithe streets in downtown Vancouver, attracted its first customers, along with dozens of people who wanted to see how it worked, shortly after it went live at 9 a.m.

The automated teller machine will be operated by Vancouver-based Bitcoiniacs and Nevada-based Robocoin. They plan to open four more locations across Canada.

Customers will need to have their palms scanned in order to exchange up to $3,000 worth of bitcoins per day. Canadian cash can be fed in or taken out from the machine and exchanged for bitcoins on Canada’s VirtEx exchange. The bitcoins will then be transferred to and from the customer’s online bitcoin wallet. The user will also have the option to receive a paper voucher representing the transaction.


Waves Coffee House is one of at least 20 businesses in Vancouver that currently accept bitcoins. (Canadian Press)

As of Tuesday morning, Bitcoiniacs reported that it was buying bitcoins for $183.21 each and selling them for $207.37 to $211.32. The virtual*currency's value has swung wildly in the past year, starting at*$13 in January and hitting a high of $266 in April.

[Sanlmar]

The price support for Bitcoins is even more nefarious than we ever thought.

It's not the Dread Pirate, Silk Road, or the Feds fat wallet.

It's the bubble luv'in Chinese

From Wired Magazine
This Chinese Exchange Just Pushed the Value of Bitcoins Over $200

http://www.wired.com/wiredenterprise/2013/10/btc-china/

I do know that the Chinese are extremely limited by the government with regard to investing. 60 minutes did a fantastic piece not long ago about their real estate bubble.

Fuck the Bitcoins ... This 60 Minutes piece about empty Chinese speculative cities is mind blowing. But their pent up hunger for speculation explains a lot.

Must watch!

[Sanlmar]

Checking under sofa cushions for loose Bitcoins. Silk Roads back and all the talk of Vicoden lately...


Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k

Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k

The meteoric rise in bitcoin has meant that within the space of four years, one Norwegian man’s $27 investment turned into a forgotten $886,000 windfall.

Kristoffer Koch invested 150 kroner ($26.60) in 5,000 bitcoins in 2009, after discovering them during the course of writing a thesis on encryption. He promptly forgot about them until widespread media coverage of the anonymous, decentralised, peer-to-peer digital currency in April 2013 jogged his memory.

Bitcoins are stored in encrypted wallets secured with a private key, something Koch had forgotten. After eventually working out what the password could be, Koch got a pleasant surprise:

"It said I had 5,000 bitcoins in there. Measuring that in today's rates it's about NOK5m ($886,000)," Koch told NRK.

Koch exchanged one fifth of his 5,000 bitcoins, generating enough kroner to buy an apartment in Toyen, one of the Norwegian capital’s wealthier areas.

[Rollo Tomasi]

.

[fluffer]

interesting discussion on silk road and bitcoins

http://twit.tv/show/this-week-in-tech/426

starts @ 4.30

[Pooh]

Looks like Micon was right about this one. I applaud him. I'd also unload them right about now. Kid probably has several hundred thousand in bitcoins, maybe more.

[sonatine]

I would not put much stock in this, the Chinese exchanges are literally the only thing propping up the prices. If Im wrong in 12 months, Ill have learned a valuable lesson but I wouldnt count on this shit lasting for long simply because the whole Chinese Speculative Phenomenon is notoriously unreliable and tangibly broken.

[Pooh]

I would not put much stock in this, the Chinese exchanges are literally the only thing propping up the prices. If Im wrong in 12 months, Ill have learned a valuable lesson but I wouldnt count on this shit lasting for long simply because the whole Chinese Speculative Phenomenon is notoriously unreliable and tangibly broken.

Like I said, he needs to dump that shit now. He hit the lottery.

[yaahello]

Worlds first bitcoin ATM opens in vancouver


http://www.cbc.ca/news/technology/wo...uver-1.2286877

An ATM that converts bitcoins to Canadian dollars and vice versa opened for business in a Vancouver coffee shop today, marking a world first.​

The kiosk, located inside Waves Coffee House at Howe and Smithe streets in downtown Vancouver, attracted its first customers, along with dozens of people who wanted to see how it worked, shortly after it went live at 9 a.m.

The automated teller machine will be operated by Vancouver-based Bitcoiniacs and Nevada-based Robocoin. They plan to open four more locations across Canada.

Customers will need to have their palms scanned in order to exchange up to $3,000 worth of bitcoins per day. Canadian cash can be fed in or taken out from the machine and exchanged for bitcoins on Canada’s VirtEx exchange. The bitcoins will then be transferred to and from the customer’s online bitcoin wallet. The user will also have the option to receive a paper voucher representing the transaction.


Waves Coffee House is one of at least 20 businesses in Vancouver that currently accept bitcoins. (Canadian Press)

As of Tuesday morning, Bitcoiniacs reported that it was buying bitcoins for $183.21 each and selling them for $207.37 to $211.32. The virtual*currency's value has swung wildly in the past year, starting at*$13 in January and hitting a high of $266 in April.

cant believe i never knew about this im going there tomorrow

[Sanlmar]

I would not put much stock in this, the Chinese exchanges are literally the only thing propping up the prices. If Im wrong in 12 months, Ill have learned a valuable lesson but I wouldnt count on this shit lasting for long simply because the whole Chinese Speculative Phenomenon is notoriously unreliable and tangibly broken.

Like I said, he needs to dump that shit now. He hit the lottery.

What a filthy run. Bubbles are awesome to behold. They often don't stop until those that doubt finally submit & buy. When EVERYBODY is in - musical chairs - no more buyers available then oops.

But this is a global phenomenon. Lotta potential buyers. A big lol for all those who thought the US Feds make a bit of difference. The price usually moved up after Fed action. For me it's a proxy on the declining importance of the US in global politics & finance.

For those sadists out there, savor the schadenfreude - the guy who bought $370 who might see a $50 drop. How big will his balls be? Oh, the pain!

Again, bubbles are a great lesson. They happen every once in a while. Including online poker. Watch and store your impressions for the next one.

[Rick O'Shea]

I would not put much stock in this, the Chinese exchanges are literally the only thing propping up the prices. If Im wrong in 12 months, Ill have learned a valuable lesson but I wouldnt count on this shit lasting for long simply because the whole Chinese Speculative Phenomenon is notoriously unreliable and tangibly broken.

Yeah, I think you're talking out of your ass here. Bitcoins can be looked at as a form of freedom and it's a big world out there. I'm not a stock market guy but from what I know the people in the game are shrewd and are there for one reason and that's to make money.

I'm not saying the price of Bitcoins will skyrocket but I see no reason to assume it's "life"is short lived.

[sonatine]

I would not put much stock in this, the Chinese exchanges are literally the only thing propping up the prices. If Im wrong in 12 months, Ill have learned a valuable lesson but I wouldnt count on this shit lasting for long simply because the whole Chinese Speculative Phenomenon is notoriously unreliable and tangibly broken.

Yeah, I think you're talking out of your ass here. Bitcoins can be looked at as a form of freedom and it's a big world out there. I'm not a stock market guy but from what I know the people in the game are shrewd and are there for one reason and that's to make money.

I'm not saying the price of Bitcoins will skyrocket but I see no reason to assume it's life is short lived.

Every shrewd person I know in "the game" avoids these hilarious unregulated toys like the plague.

Bitcoins can be looked at as a form of freedom

[Rick O'Shea]

Yeah, I think you're talking out of your ass here. Bitcoins can be looked at as a form of freedom and it's a big world out there. I'm not a stock market guy but from what I know the people in the game are shrewd and are there for one reason and that's to make money.

I'm not saying the price of Bitcoins will skyrocket but I see no reason to assume it's life is short lived.

Every shrewd person I know in "the game" avoids these hilarious unregulated toys like the plague.

[Sanlmar]

Checking under sofa cushions for loose Bitcoins. Silk Roads back and all the talk of Vicoden lately...


Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k

Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k

The meteoric rise in bitcoin has meant that within the space of four years, one Norwegian man’s $27 investment turned into a forgotten $886,000 windfall.

Kristoffer Koch invested 150 kroner ($26.60) in 5,000 bitcoins in 2009, after discovering them during the course of writing a thesis on encryption. He promptly forgot about them until widespread media coverage of the anonymous, decentralised, peer-to-peer digital currency in April 2013 jogged his memory.

Bitcoins are stored in encrypted wallets secured with a private key, something Koch had forgotten. After eventually working out what the password could be, Koch got a pleasant surprise:

"It said I had 5,000 bitcoins in there. Measuring that in today's rates it's about NOK5m ($886,000)," Koch told NRK.

Koch exchanged one fifth of his 5,000 bitcoins, generating enough kroner to buy an apartment in Toyen, one of the Norwegian capital’s wealthier areas.

Incredibly lucky binkage just won't end for this guy.
This guy essentially finds a winning lottery ticket under couch cushions but only takes 20% off the table. Who does that?

Koch exchanged one fifth of his 5,000 bitcoins..

5000-1000=4000 x ($380 current Bitcoin - $280 Bitcoin 3 days ago) = $400,000 bump

The hits just keep on comin'

[snake_in_the_ass]

Micon net-worth > Dan Druff net-worth. Micon = GOD. Bitcoin $1000 in 2014. Micon should buy this forum and shut it down. What's your price Druff?

[Sanlmar]

Micon net-worth > Dan Druff net-worth. Micon = GOD. Bitcoin $1000 in 2014. Micon should buy this forum and shut it down. What's your price Druff?

Now this prolly says more about my own scheming mind than any aspersions on Micon's character.

I also don't know if Micon had any real skin in the game. I don't listen to his stuff.

However, I have speculated before that a huge temptation to trade the Bitcoins in the players accounts had to exist.

If Micon is pictured in any photos on Dan Bilzerian's yacht then I want it on record that I called this first.

[Baron Von Strucker]

Worlds first bitcoin ATM opens in vancouver


http://www.cbc.ca/news/technology/wo...uver-1.2286877

An ATM that converts bitcoins to Canadian dollars and vice versa opened for business in a Vancouver coffee shop today, marking a world first.​

The kiosk, located inside Waves Coffee House at Howe and Smithe streets in downtown Vancouver, attracted its first customers, along with dozens of people who wanted to see how it worked, shortly after it went live at 9 a.m.

The automated teller machine will be operated by Vancouver-based Bitcoiniacs and Nevada-based Robocoin. They plan to open four more locations across Canada.

Customers will need to have their palms scanned in order to exchange up to $3,000 worth of bitcoins per day. Canadian cash can be fed in or taken out from the machine and exchanged for bitcoins on Canada’s VirtEx exchange. The bitcoins will then be transferred to and from the customer’s online bitcoin wallet. The user will also have the option to receive a paper voucher representing the transaction.


Waves Coffee House is one of at least 20 businesses in Vancouver that currently accept bitcoins. (Canadian Press)

As of Tuesday morning, Bitcoiniacs reported that it was buying bitcoins for $183.21 each and selling them for $207.37 to $211.32. The virtual*currency's value has swung wildly in the past year, starting at*$13 in January and hitting a high of $266 in April.

cant believe i never knew about this im going there tomorrow

trip report and pic of the machine