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BItcoin jumped to $500?

Silver Art

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#2
I usually look at the bitstamp quote and it currently shows that $ price at $316.61

https://www.bitstamp.net/

You had me there for a moment and I thought that I missed some news that made it go up like that. The only thing bitcoin-related that happened yesterday was a college football game was played in the bitcoin St Petersburg bowl yesterday. This was significant in that this is the first time that I have seen any bitcoin-related commercials on TV.
 

Silver Art

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#4
Sorry, that was me. They pumped it up for a second so I could bail.
AH!!! Ok. That explains the jump. So now the Bitcoin PTB can let it go down to $275 so I can buy more Bitcoin before they pump it back up. Once they do that, then I can reward them with a few '70's silver art bars. :)
 
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Silver Art

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#5
I'm still waiting for Bitcoin to retest the $275 low. It has been trading between $310 - $323 for the last few weeks.
 
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Silver Art

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#7
I will make a WAG I by saying that Bitcoin will retest $275 within 3 weeks. The lower trading ranges seem to indicate that this might happen. We will see.
 

Silver Art

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#8
I will make a WAG I by saying that Bitcoin will retest $275 within 3 weeks. The lower trading ranges seem to indicate that this might happen. We will see.
Today seems to be the day that Bitcoin is on its way to retesting last year's low of $275. It is now at $290.15 (Bitstamp quote) as I type this. I am going to "nibble" on it soon. Just a little lower...........................
 
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Silver Art

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#9
Today seems to be the day that Bitcoin is on its way to retesting last year's low of $275. It is now at $290.15 (Bitstamp quote) as I type this. I am going to "nibble" on it soon. Just a little lower...........................
The lowest price (so far) is $287.45. I ended up "nibbling" on it at the $291.80 price by buying 0.1 BTC for a total of $29.47 (including fees). It is a small purchase that I made on Coinbase but I pulled the trigger just in case it rebounds from the $290 level. If it goes to $275, then another "nibble" is certainly possible. We will see.
 
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Silver Art

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#11
Now it remains to be seen if $275.95 will hold or not. See far, $275.00 low from October 5, 2014 has held and still seems to be holding but it is too soon to tell. I see a price of $283.54 based on bitstamp.net price quote.
 
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Silver Art

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#12

Silver Art

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#13
It appears to be going back down to retest $275 again. It is now at $278.00 (bitstamp quote). The Coindesk.com quote of $275.95 is still holding. I made a 2nd bitcoin purchase on Coinbase when the price was $278.29 but this time it was 0.21 BTC that I bought for a total of $59.02 (including fees). I feel confident that Bitcoin will hold $275 support and will not make any more purchases at this point. I achieved my goal of purchasing when it went under $300 and during the retest of $275. Back to the sidelines I go.
 

Hope+Change

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#14
If you get your coins from www.localbitcoins.com, then you don't have to pay capital gains.

Coinbase is a large(ish) corporation who will report you to the IRS in order to protect its own interests (survival).
 

AgAuGal

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#16
I still dont get bitcoin. How you buy it, how its created, who creates it in the first place, how to use it. Is there a bitcoin for dummies book yet? I sounds like you give someone your dollars and they give you virtual foins to spend. Isnt that just a new flavor of the failed system we already have?
 

GOLD DUCK

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#17
I still dont get bitcoin. How you buy it, how its created, who creates it in the first place, how to use it. Is there a bitcoin for dummies book yet? I sounds like you give someone your dollars and they give you virtual foins to spend. Isnt that just a new flavor of the failed system we already have?
QWAK,AgAuGal,YEP:yes: except a few years back any one with a computer could conger them in to existence with an old computer or two in there basement at the cost of a fraction of a penny each for electricity to operate the computers.:yes::banghead::thumb.aspx:

the DUCK :15_1_70v:
 
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#19
I still dont get bitcoin. How you buy it, how its created, who creates it in the first place, how to use it. Is there a bitcoin for dummies book yet? I sounds like you give someone your dollars and they give you virtual foins to spend. Isnt that just a new flavor of the failed system we already have?
https://bitcoin.org/bitcoin.pdf

This paper is the start of it all, and later with the release of source code as well.
 
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#20
QWAK,AgAuGal,YEP:yes: except a few years back any one with a computer could conger them in to existence with an old computer or two in there basement at the cost of a fraction of a penny each for electricity to operate the computers.:yes::banghead::thumb.aspx:

the DUCK :15_1_70v:
computer skills were more important. You had to get the source code and compile it your self.
 

GOLD DUCK

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#21
computer skills were more important. You had to get the source code and compile it your self.
QWAK,Yea just like in 1849 any one with an old frying pan and not BLIND could pan for GOLD in California!:idea::23_30_104::lol04:

Lots of old bitcoin miners still trying to sell off there bitcoins a little at a time!:yes:

the DUCK:15_1_70v:
 
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#22
QWAK,Yea just like in 1849 any one with an old frying pan and not BLIND could pan for GOLD in California!:idea::23_30_104::lol04:

Lots of old bitcoin miners still trying to sell off there bitcoins a little at a time!:yes:

the DUCK:15_1_70v:
That's a good comparison. I like to compare it to the first email being sent in 1971.
 

Silver Art

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#23
It appears to be going back down to retest $275 again. It is now at $278.00 (bitstamp quote). The Coindesk.com quote of $275.95 is still holding. I made a 2nd bitcoin purchase on Coinbase when the price was $278.29 but this time it was 0.21 BTC that I bought for a total of $59.02 (including fees). I feel confident that Bitcoin will hold $275 support and will not make any more purchases at this point. I achieved my goal of purchasing when it went under $300 and during the retest of $275. Back to the sidelines I go.
Today's Low
$272.37

We broke through the $275.

Edit: Today's Low
$269.06

Edit: Today's Low
$260.87
That sucker is in a little bit of free fall.


$257.02


and no, I don't own any.
I was wrong, Bitcoin failed the retest of $275 and went down to a low (so far) of $255.00 according to Bitstamp.net price quote. I do not know what the next support for bitcoin is but I suspect that it is a much lower number than where it is currently at which is $271.01.
 

Silver Art

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#25
It's acting like silver at this point.
Yep. Except that , at this point, Bitcoin is setting a "lower low" every few days and silver is setting a "lower low" every year.
 

Silver Art

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#26
Bitcoin recovered some to the $275 level. Currently at $275.85 (Bitstamp quote) as a type this. It may not mean anything or it might mean a lot depending on your point of view. In other words, it could be a dead cat bounce that might lead to a "'lower low" or it could be the beginning of a rally from the new low of $255. I do not know. We will have to see in the next few days and weeks from now.
 

Silver Art

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#27
Bitcoin's rally continues on. It is now at $296.83 (Coinbase quote) as I type this. So far, it has gone up $41.83 from the $255.00 intra-day low.
 

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#28
Yeah, it appears to have bottomed out. At least for now. It's too unstable for me. I rather own PMs, stocks, and cash. I know stocks are stupid, but I have to be stupid in something.
 

Silver Art

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#29
Yeah, it appears to have bottomed out. At least for now. It's too unstable for me. I rather own PMs, stocks, and cash. I know stocks are stupid, but I have to be stupid in something.
I do not blame you for feeling that way you do on bitcoin. I'll be honest with you in that, hypothetically speaking, if someone gave me $5000 cash with one condition that I had to either put 1.) put it ALL in bitcoin or 2.) put it ALL in 1-oz '70's silver art bars, then I would put the hypothetical $5000 Cash in '70's silver art bars. So '70's silver art bars would win hands down over Bitcoin.
 

Silver Art

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#31
I hope that Bitcoin can stay around the $265 level and not break $255 on the downside. I want to believe that BTC will stay above $255 but I have been wrong on $275 so...................
 

Silver Art

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#32
Oh oh.............Bitcoin is knocking on $255's "door". Currently at $256.01 (Bitstamp quote).

EDIT: New low just established at $254.66 (Coindesk quote)
 
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Silver Art

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#33
Another new low at $251.28 just a few seconds ago according to Coindesk.com.
 

Silver Art

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#34
....................Now at $250.45 (Coindesk.com quote). WHOA!!!!! Sinking like a rock.
 

platinumdude

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#35
Yeah, I don't have a clue what drive it one way or another. I have somewhat of an idea for commodities and stocks.


Edit, Does energy prices really make it cheaper to mine, and therefore have a slight negative affect on price?
 

Silver Art

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#36
Yeah, I don't have a clue what drive it one way or another. I have somewhat of an idea for commodities and stocks.


Edit, Does energy prices really make it cheaper to mine, and therefore have a slight negative affect on price?
Actually I read that a cloud mining company had to suspend its operations because of a declining low price. I am guessing that energy prices (electricity) are about the same but the profit margin is eroding because of a falling bitcoin price.
 

Silver Art

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#38
$250 got took out on the downside. It is now at a low of $246.10 (Coindesk quote).
 

Silver Art

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#39
Another low was reached on bitcoin. The low now for 2015 is at $244.99 (Coindesk quote).
 
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