Bitcoin Discussion Thread Part 2

considering they sell on ebay for $500 that's pretty damn good. I was going to snag 4 up but that code is only good for 1. after paypal fees and shipping the remainder of the $100 profit isn't worth it to me.
 
If you guys want a XFX HD5850 with retail box and lifetime warranty for $160 shipped lmk. I'm getting out of the game. It's in great shape.
 
So who here is still selling their BTC they are mining? i'm sitting on mine for now, i have only 17BTC though... how many do you guys have?
 
I sold about 30btc for $11.50 a few weeks ago, down to about 12btc now, not worth selling at $5/btc :/
 
mj112588 said:
So who here is still selling their BTC they are mining? i'm sitting on mine for now, i have only 17BTC though... how many do you guys have?
Click to expand...

Nope, no way I'm gonna sell at $5.XX. I'll just keep collecting for now. I figure if it gets back to about $8 or so, I'll start selling again. I've only got about 25 coins right now, so not too concerned about it.
 
I'm keeping mine too. Not selling under $10. I'm going to hold for a few weeks and may sell if prices dont go up to pay the electric bill.
 
Does anybody know how to connect the Bitcoin client when I am behind an unknown firewall? I am on my school's WIFI but my client won't connect. The upnp of course will not work. Socket should work as that is how most remote desktop software works but I don't know how to configure the socket connection.
 
Surprisingly my electric bill only went up $40 a month and that is almost 6 GH/s.

So even @ $5/BTC, I pay my electricity costs in about 3 days/30 days at the worst luck so it's still 90% profit for me.
 
Sweet, everyone kick back and kill the value of BTC while hoarding..

*facepalm*

Gonna be kind of hard to really get it off the ground if no one is using them :rolleyes:
 
Evil Juggalo said:
Sweet, everyone kick back and kill the value of BTC while hoarding..

*facepalm*

Gonna be kind of hard to really get it off the ground if no one is using them :rolleyes:
Click to expand...

One of the main problems with spending Bitcoin and Bitcoin economics is the American barrier. What I mean by that is that most of the vendors that accept Bitcoin in transactions for actual products and services are in the US.

Many of these are not feasible for people outside the US to utilize or doesn't make any sense when you consider external factors like international shipping etc. where a product will end up costing more.

I don't live in the US and it's not easy for me to spend Bitcoins in any way that actually saves me money versus normal channels. Therefore for me, all I can really do is make money off mining and exchange speculation.
 
Evil Juggalo said:
Sweet, everyone kick back and kill the value of BTC while hoarding..

*facepalm*

Gonna be kind of hard to really get it off the ground if no one is using them :rolleyes:
Click to expand...

Using bitcoins to buy and sell goods is going to help the value which i would be happy to do.

Selling your bitcoins on an exchange for dirt to convert them to cash is only hurting the value more.
 
Kardonxt said:
Selling your bitcoins on an exchange for dirt to convert them to cash is only hurting the value more.
Click to expand...

I wouldn't hold that against people who are still trying to break even. Perhaps those that overextended themselves unrealistically I would blame for causing problems but we all need to cover our start-up costs if we had realistic expectations to begin with.

But you are right, that selling for dirt just creates a bear market full of fear and diminishing value as people basically rush the bank with each drop in value and each drop in confidence.
 
EdGaRRRRR said:
Question is, will the value ever go back up?
Click to expand...

It's a bear market. Recovery is a slippery slope. The bubble of $15 bitcoins has burst when the market was bullish and spectulation was rife. I think a $5 bitcoin is a more realistic equilibrium. I think it will drop to $5 and stay that way until the end of the year unless a speculator buys a large chunk of coins at some point or some way of stabilizing the value of goods each BTC can buy.
 
bitcoins are pretty bouncy :D.

No way to know for sure but at $5 I would rather take the risk and hold to find out. If i have to give up and sell at $3 I'm only going to make like $30 less. Not the end of the world.
 
Everyone has good points. I think it is worth reminding ourselves also that BTC do not exist in a vacuum, there is a global economy out there in a fair bit of turmoil. Gold and silver are, well, holding fairly even when they should be raging to new highs with the current rate of money creation. My view? Sit and wait, the fiat bubble will burst eventually.
 
Spare-Flair said:
It's a bear market. Recovery is a slippery slope. The bubble of $15 bitcoins has burst when the market was bullish and spectulation was rife. I think a $5 bitcoin is a more realistic equilibrium. I think it will drop to $5 and stay that way until the end of the year unless a speculator buys a large chunk of coins at some point or some way of stabilizing the value of goods each BTC can buy.
Click to expand...

$5/BTC is fine...if the difficulty drops by about half. I'm surpried the hash rate is staying high enough to keep the difficulty fairly stable.
 
I'm just glad i got a few weeks of $20-15 bit coins at an easy difficulty. I made more money in my first month than I have in every month since combined lol.

Didn't we warn some guy a few weeks back that spending $1600 on bitcoin gear at this point wasn't a great idea? He's prolly not too happy right now lol
 
Parja said:
$5/BTC is fine...if the difficulty drops by about half. I'm surpried the hash rate is staying high enough to keep the difficulty fairly stable.
Click to expand...

I guess there are a lot more people with cheap electricity than we think. I was very surprised at my margin of profitability at only $5/BTC.
 
Hey you're then one who pays $40 a month for 6Ghash jerk lol.

I'm paying 200+ a month for 4Ghash.

All said and done I'm only making 100-150 a month at $5. I'm glad I broke even a long time ago lol.
 
Ya it's pretty darn cold today. If this keeps up I'll be able to put the overclocks back on my cards.
 
jojo69 said:
Don't forget the free heat, winter coming on in the North.
Click to expand...

True. Looks like the highs here in Wisconsin are barely going to be breaking 70 any more, so not going to have to worry about AC any time soon.
 
yeah winter will be nice to save on heating costs but it's not like I can move a rig or all of them together into living spaces. They are loud as hell for all the cards with reference style coolers. I'd go deaf sleeping.

I'm doing about 8 hours of school a day right now so bitcoin is a bit more essential to me than most. It is literally my only source of income and won't even cover my parking and food.
 
please tell us you have additional ways to pay for your schooling beside mining...
 
Kardonxt said:
Using bitcoins to buy and sell goods is going to help the value which i would be happy to do.

Selling your bitcoins on an exchange for dirt to convert them to cash is only hurting the value more.
Click to expand...

Sooo, what about converting to cash,
then convertiing back to BTC at a lower rate with higher volume? :D
Does that balance it out?
I do spend some too, here and there!

The problem is, the merchants must convert it to fiat anyway! So purchases don't really help either until the BTC earned by said merchant is used at another merchant and never converted to fiat! Then it will have established a real value!
 
RyNinDaCleM said:
The problem is, the merchants must convert it to fiat anyway! So purchases don't really help either until the BTC earned by said merchant is used at another merchant and never converted to fiat! Then it will have established a real value!
Click to expand...

Yeah, thats how its SUPPOSED to work, however with the lack of adoption thus far, people are more concerned about cash value than coin value.. If the markets disappeared and there was no where to trade coin for cash and force you to trade in BTC only, it might actually help their cause, or drastically hurt it..

Right now everyones caught up in trying to be the next BitCoin millionaire, so by hoarding and not spending/accepting BTC they are just shooting themselves in the foot.

Their only hope is a big investor. I'm just spending what I earn and buying products/assets so at least their value lives on for me.
 
Evil Juggalo said:
I'm just spending what I earn and buying products/assets so at least their value lives on for me.
Click to expand...

I bought half a computer back at $15! 5830's were around 7.5BTC...ah those were the days!
It's just hard to spend them now, because it takes so many of them to buy something, then the volatility could mean you could buy with half the coins tomorrow! But, you never know!
 
RyNinDaCleM said:
I bought half a computer back at $15! 5830's were around 7.5BTC...ah those were the days!
It's just hard to spend them now, because it takes so many of them to buy something, then the volatility could mean you could buy with half the coins tomorrow! But, you never know!
Click to expand...

yeah.. People really need to get over the hoarding / "Fear of loss of *free money" and just start using them.. The more that are out in the wild getting traded, the better off its gonna be in long term..

The markets should encourage this by increasing cash out costs
 
You must log in or register to reply here.
Back
Top