Bitcoins - digital currency - Page 507 - Business, Finances and Investing Forum

Ya, it screwed me too. Mycelium wallet still uses MtGox as part of their weighted average. I didn't know this. I was sending a transaction and thinking, oh not bad, only $30, but because MtGox brought that average down so much it was actually a decent amount more. I sent them an email to remove MtGox from their weighted average. For now I just use bitstamp to get a rough indication.

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02-18-2014 , 02:06 PM

#12653

fnx99

G2p2 HU Champion

Join Date: Sep 2007 Posts: 5,259

i am pretty sure bitconity is dynamic. it sorts the exchanges after recent volume

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02-18-2014 , 03:58 PM

#12654

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,668

anyone want to bet bitcoins on hockey olympics? will bet up to .5. pm me.

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02-18-2014 , 04:00 PM

#12655

bucktotal

old hand

Join Date: May 2006 Posts: 1,667

Quote:

Originally Posted by housenuts

For now I just use bitstamp to get a rough indication.

you might find this useful too:

https://bitcoinaverage.com/#USD

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02-18-2014 , 05:07 PM

#12656

bucktotal

old hand

Join Date: May 2006 Posts: 1,667

Quote:

Originally Posted by housenuts

anyone want to bet bitcoins on hockey olympics? will bet up to .5. pm me.

i'd take Canada over USA in women's finals on thursday for the sweat at 1:1. 0.5 BTC bet sounds good.

Quote

02-18-2014 , 05:58 PM

#12657

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,668

Quote:

Originally Posted by bucktotal

you might find this useful too:

https://bitcoinaverage.com/#USD

ya i use that, or coindesk, or my actual exchange online. i was just referring to the Mycelium wallet on my phone doesn't have those options.

Quote:

Originally Posted by bucktotal

i'd take Canada over USA in women's finals on thursday for the sweat at 1:1. 0.5 BTC bet sounds good.

i want canada. also not willing to bet .5 btc on women's hockey. lol

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02-18-2014 , 08:03 PM

#12658

Shifty86

veteran

Join Date: Dec 2013 Posts: 2,971

USA vs Canada in the men's semi's would be a good 1:1 bet.

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02-18-2014 , 08:10 PM

#12659

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,668

Quote:

Originally Posted by Shifty86

USA vs Canada in the men's semi's would be a good 1:1 bet.

yes. i'd take canada 1:1 in that game, or canada 2:1 for the whole tourney. don't want to derail this thread any more with betting things. send pm if interested.

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02-18-2014 , 10:45 PM

#12660

Shifty86

veteran

Join Date: Dec 2013 Posts: 2,971

Everyday I wake up and think to myself, maybe I'm to excited and bullish about bitcoin. Then throughout the day I read and learn more about it and can't help but think I should be buying more. I never imagined I would find something that I could just read and talk about for hours and it would never lose my interest. It has started a learning curve that I never thought I would find.

Am I the only one this has happened to?

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02-18-2014 , 10:59 PM

#12661

CobaltBlue

adept

Join Date: Oct 2009 Posts: 754

I mean, I tend to discuss it with a new person almost every other day. I'm appreciative of my wife's patience at probably having heard the same spiel 100 times now.

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02-18-2014 , 11:05 PM

#12662

TomCollins

Carpal \'Tunnel

Join Date: Jul 2003 Posts: 43,058

Quote:

Originally Posted by Shifty86

This happened to me twice

. First time I finally got bored and sold at $14.

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02-18-2014 , 11:06 PM

#12663

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,668

Same boat shifty. It's probably taking up too much of my time. I'm listening to a ton of podcasts too, which includes starting from the start, about a year ago and trying to catch up.
It's informative to hear some of the thoughts on it all a year ago.
I still need to read through this whole thread too.

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02-19-2014 , 12:12 AM

#12664

dc_publius

Pooh-Bah

Join Date: Nov 2005 Posts: 4,308

Quote:

Originally Posted by Shifty86

When you have skin in the game, the dumbest and most boring crap becomes fascinating. And the more money you have on the line, the more exciting it gets. The most exhilarating football game I have ever seen is when I had 1,000 bucks riding on it. (casino bonus whoring) Otherwise, I could care less about football.

Don't get blinded by your own stake in the game.

IF I was holding Bitcoins - which I'm not - I would monitor mainstream media first and foremost. As long as positive stories are coming out, you're in good shape. But if you see the sentiment changing, all the speculators will run, and I would try to exit before them.

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02-19-2014 , 12:19 AM

#12665

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,668

The good thing is there's been lots of bad news in the mainstream media and the price hasn't dropped that much. Gaining stability.
There's an article on coindesk about it

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02-19-2014 , 04:23 AM

#12666

DickFuld

Pooh-Bah

Join Date: Sep 2007 Posts: 4,113

I just like talking to tech centered venture capital firms and traders who run for the hills whenever bitcoin is discussed. It's cool to see that a few firms out of the thousands have made some tiny investments though and are lauded by the bitcoin community as real institutional money pouring into bitcoin.

Quote

02-19-2014 , 09:28 AM

#12667

Shifty86

veteran

Join Date: Dec 2013 Posts: 2,971

Quote:

Originally Posted by CobaltBlue

I mean, I tend to discuss it with a new person almost every other day. I'm appreciative of my wife's patience at probably having heard the same spiel 100 times now.

Ya I am definitely appreciative of my wife for not saying it's crazy and sitting through the forced YouTube vids.

I have some friends that work In finance and business and they absolutely think its crazy, and have actually said by the end of 2014 bitcoin won't be relevant.

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02-19-2014 , 09:37 AM

#12668

Gullanian

Carpal \'Tunnel

Join Date: Dec 2006 Posts: 14,014

Tomorrow my bet is that Gox announces re-enabling/short term schedule for allowing rate limited fiat withdrawls, but not the same case for Bitcoin withdralws.

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02-19-2014 , 10:10 AM

#12669

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,668

Quote:

Originally Posted by Shifty86

I have some friends that work In finance and business and they absolutely think its crazy, and have actually said by the end of 2014 bitcoin won't be relevant.

on what grounds?

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02-19-2014 , 10:13 AM

#12670

TomCollins

Carpal \'Tunnel

Join Date: Jul 2003 Posts: 43,058

Quote:

Originally Posted by housenuts

on what grounds?

That they spent enough time trying to understand it and learning about it as many of people on the first page (including me!)

Quote

02-19-2014 , 10:20 AM

#12671

Shifty86

veteran

Join Date: Dec 2013 Posts: 2,971

Another tulipmania or a virtual gold rush they said. The price is getting to high for 1 bitcoin and it will only be used by the rich was another good one.

So ya what Tom said, ignorant and to lazy to actual learn what it is.

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02-19-2014 , 11:26 AM

#12672

TomCollins

Carpal \'Tunnel

Join Date: Jul 2003 Posts: 43,058

Quote:

Originally Posted by Shifty86

I mean I don't blame them, at first glance, it seems completely idiotic and ridiculous.

Quote

02-19-2014 , 11:28 AM

#12673

housenuts

1st Quartiled the 500

Join Date: Jul 2004 Posts: 49,668

I agree that the price of 1 bitcoin seems too high for the average person to want to acquire.

Spending $1,000 to acquire 1 of something, just does not seem like a good deal to the average person.

We need to start consistently referring to them as mbits. Spending $1,000 to get 1,000 mbits seems like much better value.

Basically the default value of 1 unit of measure should be about what it costs to buy a cup of coffee. So if a cup of coffee costs $1, then our standard unit of measure should be 1mbit.

This will need to change again once/if the value of bitcoin 10x again

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02-19-2014 , 11:49 AM

#12674

TimM

Carpal \'Tunnel

Join Date: Jan 2004 Posts: 9,766

Quote:

Originally Posted by TomCollins

I mean I don't blame them, at first glance, it seems completely idiotic and ridiculous.

True. The problem comes when people assume that the first glance opinion of a business or finance person means more than the studied opinion of anyone else.

Quote:

Originally Posted by housenuts

I like this idea: It's bits

Basically advocates we use a simple unit called a "bit". One bitcoin == 1,000,000 bits. The post explains the reasoning very well, better than I can summarize here.

Quote

02-19-2014 , 12:24 PM

#12675

heltok

old hand

Join Date: May 2012 Posts: 1,695

Quote:

Originally Posted by housenuts

I think this makes bitcoin cool. You americans might not get it but a currency that is expensive like GBP or USD feels more cool than countries with poor economies where you have to pay thousands for a beer.

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