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Bitcoin Discussion Thread Part 2

Parja said:
As long as you don't create new addresses, no. Wallet.dat files just store the private key associated with an address, so it's basically like an account number.
Click to expand...
I do not appear to have .dat files on my mac.

Parja said:
That's because it's downloading the block chain. Every time you make a transaction, it appends the block chain. So until you have the fully updated block chain to append, you can't make a transaction. Therefore, you want to leave the Bitcoin client running on one PC where you do your transactions so you've always got the fully updated block chain.
Click to expand...

sounds good. It's been running since before I posted this and it's maybe only 1/3 complete. Is that normal? That puts the wallet running at about 5 days.
 
Ya it takes forever the first time but after that it's pretty easy to keep caught up.
 
I just want to mention one thing.... everyone talks about how the price is so volatile... so they are scared.... Its volatile UPWARDS.... go look at a 2 year graph of the currency! If you are scared of your investments and holdings violently fluctuating upwards, by all means, don't invest.

I thought I missed the boat when I got into mining in June and missed all the April growth, but now I've more than paid for my investments, and hoping within the year to score even bigger. Just think if amazon or paypal or any large company starts accepting it, the market capitalization will grow and grow. I wish instead of mining though, i would have just invested the money, it would be worth more now than simply mining.
 
Has to be trolling. My brain refuses to accept that people can be so stupid. To be fair though, if it wasn't bitcoin it would have been TSLA stock or something else.

The guy clearly has no idea how to handle money and would have traded it for magic beans (which I'm sure some people will argue that he did).
 
Add me to the list of "I wish I didn't sell". I sold 400 at $8.40 like a week ago. LTC is now $16. What the flying fuck!? Now making $40+ a day just mining assuming I mine and sell at this price. That's the highest I've ever been at. I'm going to hate it even more when like a year from now LTC is beyond $100/coin and I'm only going to have ~150 of them as opposed to 500+.
 
blade52x said:
Add me to the list of "I wish I didn't sell". I sold 400 at $8.40 like a week ago. LTC is now $16. What the flying fuck!? Now making $40+ a day just mining assuming I mine and sell at this price. That's the highest I've ever been at. I'm going to hate it even more when like a year from now LTC is beyond $100/coin and I'm only going to have ~150 of them as opposed to 500+.
Click to expand...

I've come to form a theory about these currencies just from watching the trollbox on BTC-e in the past few weeks. My theory is that if there are enough people who are convinced of some specific value for a specific currency, then it has a good chance of happening. A good number of people agree that LTC should be valued at approximately 1/4 that of BTC... right now, it appears this may be the initial push toward that mark. I'm going to wait and see if that happens and then decided if I want to sell.
 
I never put much stock in the derpcoinz, though folks are clearly doing OK with them, If I had any I still think I would be watching the ratio and farming them into the gold standard BTC as good opportunities presented themselves
 
blade52x said:
Add me to the list of "I wish I didn't sell". I sold 400 at $8.40 like a week ago. LTC is now $16. What the flying fuck!? Now making $40+ a day just mining assuming I mine and sell at this price. That's the highest I've ever been at. I'm going to hate it even more when like a year from now LTC is beyond $100/coin and I'm only going to have ~150 of them as opposed to 500+.
Click to expand...

Sell 148.16 USD 1.00 BTC 1.65 USD 149.81 USD COMPLETED Oct 18, 2013
Sell 124.48 USD 1.00 BTC 1.41 USD 125.89 USD COMPLETED Oct 10, 2013
Sell 243.23 USD 2.00 BTC 2.61 USD 122.92 USD COMPLETED Sep 20, 2013
Sell 108.22 USD 1.03 BTC 1.24 USD 106.27 USD COMPLETED Aug 21, 2013
Sell 272.56 USD 2.999 BTC 2.90 USD 91.85 USD COMPLETED Aug 9, 2013

Yeah. Welcome to the boat. That's basically nearly 6k worth of BTCi sold for under $800 total earlier this year. I would be +$2k in the black on my entire mining investment.

EDIT: Don't sell any amount of BTC under $1,000 per.
 
blade52x said:
Add me to the list of "I wish I didn't sell". I sold 400 at $8.40 like a week ago. LTC is now $16. What the flying fuck!? Now making $40+ a day just mining assuming I mine and sell at this price. That's the highest I've ever been at. I'm going to hate it even more when like a year from now LTC is beyond $100/coin and I'm only going to have ~150 of them as opposed to 500+.
Click to expand...

Oh, not to add fuel to the fire, but as of now LTC is $19.

EDIT: Correction... LTC is now at $22!
 
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After observing this BTC zoom from the sub $300 level.. i say there is no ceiling -> the $1,000 barrier will go sometime in the next 24 hours.
 
My son had to have a surgery and I sold all my LTC earlier this month and now I hate myself. I was pretty happy to get 3.20 for them then.

/sadpanda
 
Bosom said:
My son had to have a surgery and I sold all my LTC earlier this month and now I hate myself. I was pretty happy to get 3.20 for them then.

/sadpanda
Click to expand...

I sold over 7 BTC 2 years ago....for $2.90 a piece. Got a $21 Amazon gift card. Dont remember what I bought with it.

I feel your pain.
 
still didn't get the 290 to work with guiminer without having to connect another display in
 
OK seriously the more I look at btc-e.com the more pissed off I get. I sold my LTC at $7. It's already tripled in value. I was also thinking about buying NCM at $0.60

I'm fed up. Not even going to look anymore :/
 
elite.mafia said:
OK seriously the more I look at btc-e.com the more pissed off I get. I sold my LTC at $7. It's already tripled in value. I was also thinking about buying NCM at $0.60

I'm fed up. Not even going to look anymore :/
Click to expand...

I can't be the only guy here holding a stash of LTc. Come on guys why would you sell?
I'm waitin for Ltc to hit $100+ then I might be tempted to sell
 
I sold some and then held some
half between BTC and half between LTC

going to build a new rig
anyone recommend a cheap mobo?
 
J Macker said:
I can't be the only guy here holding a stash of LTc. Come on guys why would you sell?
I'm waitin for Ltc to hit $100+ then I might be tempted to sell
Click to expand...

Im not selling anymore. I'll mine with this rig come January when I build a new one. Till then I'm resting my 5850 since its still my gaming gpu and I dont wanna burn it out. It's old and has taken a beating.

Currently solo mining primecoins which I'll convert to LTC or BTC. I wont make the same mistake on BTC again. I think BTC and LTC are in the game for good and will only continue to go up. The rest of em I'll ride the bubble with if there's good opportunity.
 
J Macker said:
I can't be the only guy here holding a stash of LTc. Come on guys why would you sell?
I'm waitin for Ltc to hit $100+ then I might be tempted to sell
Click to expand...


Stuff happens... needed money for medical bills. Kids are expensive.. second surgery on my son this year. My crystal ball wasn't working or I would have waited 2 weeks.
 
NVC and LTC both exploded. I think FTC will also eventually join that group. I think most scrypt coins will be more desirable compared to sha. Little birdy showed my 500LTC.
 
i am going to unsubscribe to this thread and delete my btc-e bookmark already.

=(
 
Im gonna have to restart my mining machines...I know as soon as I do prices are gonna tank or something but being able to do $66/day can't be passed up...
 
holding holding, holding....

LTC hit $27 this morning, slight dip to $25 now, I'm thinking $50 before christmas. $100 by springtime


I'm going to pay off my house next year when i'm 33. :D
 
Good grief... I'm going to have to buy more stuff and start mining again...
 
J Macker said:
I can't be the only guy here holding a stash of LTc. Come on guys why would you sell?
I'm waitin for Ltc to hit $100+ then I might be tempted to sell
Click to expand...

I only sold hoping to buy back more at a cheaper price. And I just barely missed. And I mean barely. I put in a buy order at BTC-e for $5.05 one overnight, and it dropped from $9 to somewhere between $5.1 - $5.5. By the time I woke up it was back around $7. I would have ended up with about 50% more LTC than I sold. I was SO CLOSE. Now that doesn't look like it's going to happen. Even at a $100, it's a lot of money, but it's no game changer in my life. But I will be eating those words if and when it goes to $200, $500, $1000, etc. So whatever I mine now gets held. And all I can do is hope for some kind of correction to happen so I can buy back some of the LTC I sold. I'm keeping a small stash of USD on BTC-e just for that reason.

Also, does anyone know how long it takes to withdraw cash to PP from BTC-e? I've had a transaction sitting there for 2 days now.

I'm also going to start up my Titans on some mining when I get home. They'll be drawing like 600-700W from the wall alone, but that's how profitable it is right now.
 
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I sold my 124 LTC at $2.20 and I feel like shit. Reading your stories guys makes my pain only worse. Who's making all the money here :(
 
So here's my theory.

I agree with the notion that BTC is the gold standard and LTC is the silver to BTCs gold. Just like gold and silver, BTC and LTC will be used as stores of value moreso than as actual transaction currency. I think BTC will only continue to go up and eventually stabilize, but I wont guess when. I think we will be shocked at how much it actually climbs to.

That being the case, there will need to be less valuable currency that's used for day to day transactions. With so many other cryptos currently giving it a go, only a very few will actually stabilize and become accepted, therefore retaining and gaining value, the rest will be marginalized and basically forgotten. The ones that ARE accepted will become the ones used for the mundane transactions.

I'm betting on primecoin to become one of the ones that is accepted and used, since it differs itself from other cryptos by actually doing something somewhat useful (and Im not a mathematician so I cant claim to remotely understand WHY primes are useful, but accept that they are). One of the criticisms of BTC is that it does nothing of value with the power used and the calculations it makes, so I think primecoin will get kudos from people for using the computing power for scientific gains. It's also not limited to a certain number of coins like BTC and LTC are, therefore becoming more like a dollar bill as opposed to gold or silver.

Perhaps cryptos will all crash tomorrow, but I really think BTC and LTC are here to stay. Since BTC is no longer mineable by an average joe, and LTC is not very profitable for me with my current setup (and the fact that I get nervous about my aging hardware while mining it), I'm putting a bet on primecoin to be the next one to really take off (and its price has skyrocketed these last few weeks).

Thoughts?
 
Pocatello said:
Have you purchased any real gold or silver? The kind that you can hold in your hand?
Click to expand...

Nope. I'm not that well off.

I buy PC hardware once every 3-4 years as a hobbyist. I'm a gamer. I'd buy the hardware anyway. I dont own any specialized mining rigs, what you see in my sig is what I own. I'm partial to AMD cards, and since I had a 5850 at the time I found out about BTC I put it to good use. I bought a 5830 to mine with as well, made my money back on that and sold it, profited about $30 overall.

I'm not an investor in virtual currencies, merely a hobbyist that certainly could use any extra money I can make. What I posted above are my thoughts on what the market will most likely do in the future. Just curious as to what other's thoughts are.

I'm currently solo CPU mining for primecoins since I feel they are the most likely candidate for acceptance and sustained value, based on the reasoning above and the fact that my CPU has a fair chance of success (and indeed, I got lucky and found a block yesterday, currently worth about $45 in "real" money.)
 
SuperChicken said:
I sold my 124 LTC at $2.20 and I feel like shit. Reading your stories guys makes my pain only worse. Who's making all the money here :(
Click to expand...

*raises hand*


LTC is up to $30.

:D

My coworker now has about 5000 LTC. I really wish I hadn't traded for BTC when I did; lost out a few thousand worth of growth on that one.

Maybe I should buy eight Radeon 280x cards and build two more baskets.
 
J Macker said:
*raises hand*


LTC is up to $30.

:D

My coworker now has about 5000 LTC. I really wish I hadn't traded for BTC when I did; lost out a few thousand worth of growth on that one.

Maybe I should buy eight Radeon 280x cards and build two more baskets.
Click to expand...

You must have some impressive wiring in your house. My house is older and I had to really mess with my wiring to get enough power to run 4 crates in the garage... if I didn't have kids I guess I could have spread them out in the house or something.
 
Bosom said:
You must have some impressive wiring in your house. My house is older and I had to really mess with my wiring to get enough power to run 4 crates in the garage... if I didn't have kids I guess I could have spread them out in the house or something.
Click to expand...

I don't have 5000 ltc... and just normal wiring.
Right now i'm pulling about 5000w and will be adding another 1200w next week. I think I'm addicted; I just ordered 4x 280x cards and a 1300w psu. Total hash will be around 14k next week.
They're spread out on different breakers.

Adding another 2400w in Jan. Yes, my power bill is high, but it's the winter, so I don't care.
 
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