Are You Profiting off the BITCOIN wave?

[Jake]

Did anyone else make a ton of cash off of this the past few weeks? I sold at 300, 500, 600 and 700!!!!

I took out my original investment slightly over $600..I believe I'll regret that decision as I think we'll be in the 100's of billions (market cap) in the not too distant future. I'm up more than I'd like to say.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Angus]

Mhm, I'm thinking about investing in Bitcoins, I've made € 1000 in two days selling shit on eBay and this morning I was thinking about Bitcoins.
Is it a smart choice at the moment?

 

[bringitnow28329]

Angus in general if you have to ask people on a forum whether you should invest it's safe to say you should not be involved in the market at least in individual securities.

 

[Angus]

True, I should learn about it myself, haha.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[benhebert]

You can make some serious $$$ off of arbitrage right now playing from China to US to China etc. I'd get involved for fun and realize that you could lose it all

 

[XOthermic]

Bitcoin Seems like Tesla at the moment tons of Hype but where is the beef?

 

[Mbc]

I changed $10k yesterday.
And if I'd even waited a few hours until the end of the day I would've got an extra 1K!!
There's a market for people who can give cash for bitcoins.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Mrs. BRKb]

"Richard Branson: Buy your space flight with bitcoin"

>>Billionaire entrepreneur Sir Richard Branson announced on CNBC's "Squawk Box" Friday that his commercial space flight venture will accept bitcoin as payment. He called it "a new exciting currency."

Virgin Galactic accepted its first purchase with bitcoin from a flight attendant in Hawaii. Branson—an early bitcoin investor himself—said the woman made "quite lot of money getting into bitcoin early on."

http://www.cnbc.com/id/101220710

 

[stranger]

I've never dealt with bitcoins before and I have the question.
Are bitcoins keeping on a hard disk of your pc/laptop or where? For example, if your pc's hard disk will be destroyed, all your bitcoins are lost for you forever too
Sorry for this question, but I faced with this stuff when i had webmoney.

 

[MarkNNelson]

I've never dealt with bitcoins before and I have the question.
Are bitcoins keeping on a hard disk of your pc/laptop or where? For example, if your pc's hard disk will be destroyed, all your bitcoins are lost for you forever too
Sorry for this question, but I faced with this stuff when i had webmoney.

The easiest way to think about it is that you're not storing the "coin", or the value of the coin. You're storing a secret code, individual to you, that can "unlock" that value. So that code can be stored on your hard drive, or on a flash drive, or on a piece of paper, or only in your memory.*

Check out a couple of these links for a primer:

https://en.bitcoin.it/wiki/Bitcoin_Newbie_Guide
http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=6&cad=rja&sqi=2&ved=0CGcQtwIwBQ&url=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DultLPNj-a8Y&ei=0bqPUrLIJ8iL2wXv2YAo&usg=AFQjCNFVJqA18ztncEIgFakaQ3zbiDEhfw&sig2=3o_Uhcn5hjU5JBhHvi9tcg&bvm=bv.56988011,d.b2I

* google "brainwallet"

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Mbc]

Sold another ~6 BTC today. These things are super hot right now. China just somewhat approved of them, and they are the biggest market. BTChina is always like 100-200$ more.
Just today it went up again from 720's to 820 (CAD)
Some sites have $100 spread between them, you can make money just playing the spread between sites.
Also should check out Litecoins, they're at $10 each now, they were at $1 a few months ago. There are a bunch of these digital coins now but Litecoin is the biggest and oldest after Bitcoin.

 

[AntiGuru]

I started accepting bitcoin in a few of my web businesses back in the spring, and I was just accumulating it. I wasn't paying too much attention the price, just wanted to accumulate a nice pile of BTC as a way of diversifying.

Although at these prices it's hard not to sell, so I've been doing that. We're still accepting bitcoin and our transaction velocity in BTC is increasing, so I'll just keep accumulating again until the next irrational spike higher.

 

[benhebert]

What business are you accepting Bitcoin?

We just added it to our site on Friday and have already accepted two BTC orders, one to Germany and another to Bali, Indonesia. Super cool stuff.

If you're using Shopify, you can use the Bitcredits.io addon and be accepting bitcoin in a matter of a hours.

Right now we're using Shopify -> Bitcredits.io -> Coinbase and have just been holding all of our orders so far. Wish we could have done this earlier!

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[exige]

http://www.bloomberg.com/news/2013-...rush-means-real-cash-for-hardware-makers.html


Shovel Makers

Korb, 24, has persuaded 65 people to invest 907 Bitcoins worth more than $100,000 in the Korb & Co. Investments Mining Fund. The group, which has a prospectus online, has bought computers from Butterfly, KnCMiner and CoinTerra to crunch data. His CoinTerra gear has yet to be delivered because the startup hasn’t begun shipping yet.

“Like during the gold rush, it’s the shovel companies that made money,”

This is what I've been thinking of lately. Where the opportunities and needs are as the publicity around bitcoin drives more and more interest, apart from speculation on the currency itself. Bitcoin insurance? ebay for bitcoin? Replicating existing popular platforms that won't accept bitcoin, for bitcoin users?

 

[DTS Ltd]

There's a new Meetup group for bitcoin that's been hosted at the Bitcoin Center in New York City:

http://www.meetup.com/Reggie-Middle...ng-Money/events/167987982/?fromJoin=167987982

The Future of Money: Long/short Bitcoin trading strategies without an exchange!

2 days ago · 6:00 PM Bitcoin Center
In the first ever UltraCoin meetup, we will review the UltraCoin client and more importantly, perform live trading between bitcoin (BTC) and over a dozen fiat currencies with near real time settlement and access to your funds - ALL without the use of a single exchange! That's right, trade BTC against USD, EUR, pounds, yen, etc. and collect your profits in minutes instead of weeks. We'll review simple and complex trading strategies and solutions. With UltraCoin, I show you how to short Bitcoin, go leveraged long Bitcoin and hedge against Bitcoin volatility into a variety of fiat currencies.

Sounds too good to be true? Well, it's not. Come see us to find out more.

http://www.meetup.com/Reggie-Middle...ng-Money/events/167987982/?fromJoin=167987982

 

[smarty]

I was never conceived about BitCoin fluff and the shut down of MtGox.com for me is a further prof of its huge problems.
People buying huge computers to mine bitcoin only, and sitting down in their asses watching TV, doing nothing and hoping to mine as much money as possible from the machines. Are u serious?

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[CryptO]

I was never conceived about BitCoin fluff and the shut down of MtGox.com for me is a further prof of its huge problems.
People buying huge computers to mine bitcoin only, and sitting down in their asses watching TV, doing nothing and hoping to mine as much money as possible from the machines. Are u serious?

I make over $10,000 a month trading cryptocurrency. Is that not enough?

 

[smarty]

I make over $10,000 a month trading cryptocurrency. Is that not enough?

In virtual figures?

 

[Gsuz]

Looks like we have a smart(y)a$$ over here

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[CryptO]

In virtual figures?

No, hard cash in my bank.

 

[Jake]

I was never conceived about BitCoin fluff and the shut down of MtGox.com for me is a further prof of its huge problems.

That's kind of like saying SMTP has problems if yahoo mail shuts down.

Worth reading http://techcrunch.com/2014/02/28/whats-not-being-said-about-bitcoin/

btw..the author has a business that is gaining over 10,000 customers a day

"It’s hard to believe that we started 2013 with just under 13,000. That is an astounding growth rate of 7,592.31%." They recently crossed over the 1,000,000 mark. Lots of people doing nothing with bitcoin /s

 

[smarty]

No, hard cash in my bank.

Good for you.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[drilonnn]

And now the price of 1 BTC is ~700 USD .. i was dumb for not buying some when the price was $10.. Now i would have had like 70x of the investment :/

 

[drilonnn]

And no matter what you do, DON'T exchange them into USD or other currency because in 10 years a price of 1 BTC will be lik $5000 when it reaches the number of 21 Millions BTC, there will be no more produced and the price will go way up, you may even become a millionaire!

 

[DeletedUser2]

I am thinking I will be offering coaching services in bitcoin only


Z

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[GettinFishy]

I purchased a bitcoin for $750, then they flew to $1100, shortly after dropping... Now im just waiting to make my money back.

 

[GettinFishy]

I'm curious what process you used to get your first coin, I used coinbase and then traded it to btc-e to 'day trade' litecoin and other altcoins... which was a mess.

 

[SGBoise]

This is the gold rush. The people making the big bucks are the amd and NVidia.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[JAJT]

The people making the big bucks are the amd and NVidia.

Trust me, they are far more focused on winning sockets in upcoming cell phones.

A single socket win = profit of the chip x number of cell phones manufactured.

They may have tens of thousands of video cards sitting on shelves around the world but a few bucks profit in hundreds of millions of phones (per socket per phone) is a much nicer number.

 

[DTS Ltd]

Some current analysis of bitcoin:

http://cointelegraph.com/news/112335/bitcoin-analysis-week-of-aug-24-intro-to-trend

We are currently Long-Term Bullish, Intermediate-Term Bearish, and Short-Term Bullish. We will treat the US$500 as the support that is holding the price up, so assuming it does; the highest probability target is the bottom of the triangle at US$560. Once it gets there, the situation will be re-evaluated, but the most likely outcome is some more downside into early September.