Bitcoin breaks through the $1,000 barrier

[Maestro]

Bitcoin breaks through the $1,000 barrier

Value of virtual currency has risen fivefold since the beginning of the month
By James Titcomb 3:47PM GMT 27 Nov 2013

Bitcoin, the internet currency that has surged in popularity this year, has broken through the $1,000 barrier for the first time, marking a fivefold increase since the start of the month.

Based on trading on the Mt Gox exchange, Bitcoin rose from around $960 at midday on Wednesday to a high of $1,030 as of 15.15.

Bitcoin price in November. Click to expand

Read more: http://www.telegraph.co.uk/finance/currency/10478697/Bitcoin-breaks-through-the-1000-barrier.html

-- The Telegraph 2013-11-27

[churchill]

what about ripples .... I was given some free for registering but no idea what they are worth if anything

and Litecoin ..

any others ..

why would central banks allow a currency they cannot control ..?

[Maestro]

Did Congress Help Bitcoin Soar Past $1,000?
JACQUELINE SAHAGIAN NOVEMBER 27, 2013

Digital currency bitcoin has surpassed $1,000 during trading on Wednesday for the first time as increasing media coverage and a U.S. Senate hearing on virtual currency has brought increased media attention to the alternative currency. reports that bitcoin was trading above $1,000 on its biggest exchange, the Tokyo-based Mt. Gox, on Wednesday, showing an increase of over $100 from Tuesday. ”It isn’t just the bitcoin community saying that bitcoin is used for good things and there’s a lot of great potential, we have members of Congress and government agencies who all agree,” said Jinyoung Lee Englund, spokesperson for the Bitcoin Foundation in Washington said to Fox News.

Read more: http://wallstcheatsheet.com/stocks/did-congress-help-bitcoin-soar-past-1000.html/?a=viewall

-- CheatSheet 2013-11-27

[churchill]

”It isn’t just the bitcoin community saying that bitcoin is used for good things and there’s a lot of great potential, we have members of Congress and government agencies who all agree,”

I thought one of the main arguments against was that Bitcoin was being used to launder drug money ..

Bitcoin: Experts clash over the crypto-currency

http://www.bbc.co.uk/news/technology-25130261

[Maestro]

A bitcoin chart covering four years:

[Maestro]

Removed a post with a useless link

[up-country_sinclair]

A bitcoin chart covering four years:

Bitcoin 4yrs.png

How can I short bitcoin?

[brit1984]

A bitcoin chart covering four years:

Bitcoin 4yrs.png

How can I short bitcoin?

do a bilateral deal with some of thaivisa's resident bitcoin price pumpers

[fletchsmile]

I received the following email in my inbox today from Money Morning. Thought it was interesting there are now 90 of these crypto currencies...

Cheers

Fletch

----------------------------------

27 November, 2013

• Are cryptocurrencies the new dotcom stocks?

• The unbeatable tax advantage landlords have over first-time buyers

• Central America: violent, impoverished – and attracting billions

• Yesterday’s close: FTSE 100 down 0.9%to 6,636… Gold down 0.68% to $1,242.79/oz… £/$ - 1.6216

From Dominic Frisby, in London

Dear Reader,

You've heard of bitcoin, right.

But what about namecoin? Or novacoin? Or even quarkcoin?

Get with the coins, guys! Cryptocurrencies are the new dotcom.

The wild world of cryptocurrencies

Namecoin was up 120% yesterday. Not last year, or last month, but yesterday.

Novacoin? That was up 185%. Quarkcoin? 230%.

But the big mover, well, that was craftcoin. That was up 1,557.8%. In one day.

I doubt even the bloke who discovered Ghawar (the world's largest oil field) saw daily gains like that.

Yesterday I went to meet a private investor who makes his living speculating in cryptocurrencies. We had met virtually a few years ago, in 2010 (I think). He got in touch and gave me a couple of bitcoins – he was living with 'one of the blokes who developed them'.

.........

Continued here http://moneyweek.com/bitcoin-and-cryptocurrencies-the-new-dotcom-stocks/

Edited for fair use and link to article added, Crossy.

Edited November 28, 2013 by Crossy

[meechai]

Even if the story is BS

Does make me wonder then what happens if your hard drive

just fails?

IT pro says he threw out 7,500 bitcoins, now worth $7.5 million
As Bitcoin hits $1,000, man says bitcoin-filled hard drive is in a landfill.

Edited November 28, 2013 by meechai

[thrilled]

Anyone that has some Mad Money,that if you would lose it that it wouldn't hurt ya financially.Then maybe go and put up to 10% into it?Me myself I will keep on with gold.It has A good track record.

[i claudius]

But the big question for us Brits is will it go up against the pound ,or the baht or ,oh what the <deleted> is a bitcoin?

[moradave]

The reason MtGox offers more dollars for a BitCoin is speculation. The longer they hold off paying you in dollars, or baht, or anything else, the more they make. For example, if you sell them a BitCoin for $1,000 and they take three weeks to give you the $1,000 and the price of a BitCoin has risen to $1,200, who makes $200 on the deal? MtGox. So, the longer they wait to pay you in a rising market the more they make. However, if the price of BitCoins drops to, for example, $800. Then you will not lose the $200, but MtGox will.

But if prices should start to drop, MtGox will probably offer less, or no premium and you will get your money much sooner. So you are probably better off to sell to an exchange with a 1 or 2 days payout. MtGox is such a big exchange that they they can probably influence market direction.

Edited November 28, 2013 by moradave

[pancakeman]

what about ripples .... I was given some free for registering but no idea what they are worth if anything

and Litecoin ..

any others ..

why would central banks allow a currency they cannot control ..?

1 Ripple (XRP) = $0.025 USD (can buy 37 ripples for a dollar)

I sold my ripple giveaway for bitcoins ages ago, at the time i received 4 bitcoins (was worth about $400 at the time)....now sitting on $4000...thanks ripple!

Note that those same number of ripples would be worth about $1000 now, so even if I'd just kept the ripples i would have done ok.

Edited November 28, 2013 by pancakeman

[Maestro]

Bitcoin, you have a China problem

BY MICHAEL CARNEY

ON NOVEMBER 26, 2013

By all metrics and accounts, bitcoin’s popularity is exploding across the People’s Republic of China. It now boasts the world’s most active bitcoin exchange, BTC China, the greatest number of bitcoin mining nodes, the highest number of bitcoin wallet downloads, and set the record for the highest price ever paid for a bitcoin (7,000 yuan or approximately $1,120 on November 19) while trading at just $900 on Mt. Gox. A map of global bitcoin trading activity further illustrates China’s dominance.

Bitcoin bulls are eager to see the currency spread and gain broader global adoption, and thus may not view this as a problem. But for a currency touted for its independence from government interference, the growing concentration of Chinese influence over this crypto-currency wealth creates a single point of failure for the system. The same would be true if you replaced China with any other country (assuming it could generate similar trading volumes), but the fact that it is the notoriously unpredictable China doesn’t inspire confidence.

Read more: http://pando.com/2013/11/26/bitcoin-you-have-a-china-problem/

-- Pando Daily 2013-11-26

[rwdrwdrwd]

This is a sore subject for me. I could have got in under a dollar, was well aware of it and brushed it off. At the start of this month I finally decided to buy some and to date have been unable to get registered with any of the exchanges due to me being British and my address being Thai. It's moved from 250 to 1100 and i'm slightly gutted about it.

Anyone know any good exchanges that do not require a british utility bill and the blood of my first born?

[NeverSure]

So the Hunt brothers finally got into bitcoins?

[moradave]

Interesting map. See where BitCoins are being bought and sold worldwide in realtime:

http://fiatleak.com/

Edited November 28, 2013 by moradave

[TradeMark]

This is a sore subject for me. I could have got in under a dollar, was well aware of it and brushed it off. At the start of this month I finally decided to buy some and to date have been unable to get registered with any of the exchanges due to me being British and my address being Thai. It's moved from 250 to 1100 and i'm slightly gutted about it.

 

Anyone know any good exchanges that do not require a british utility bill and the blood of my first born?

Can have a look at, https://localbitcoins.com/country/TH

Have used some of the traders on there before no worries. Not the best rates but hey. There is also bahtcoin and bahtbit in regards to private exchanges that are still running after the whole "banning" and their exchange is better depending on what side of the bed they woke up on for the given month.

Sent from my iPhone using ThaiVisa app

[churchill]

what about ripples .... I was given some free for registering but no idea what they are worth if anything

and Litecoin ..

any others ..

why would central banks allow a currency they cannot control ..?

1 Ripple (XRP) = $0.025 USD (can buy 37 ripples for a dollar)

I sold my ripple giveaway for bitcoins ages ago, at the time i received 4 bitcoins (was worth about $400 at the time)....now sitting on $4000...thanks ripple!

Note that those same number of ripples would be worth about $1000 now, so even if I'd just kept the ripples i would have done ok.

I tried logging in to check what I had and now cannot as both my login name and password are wrong

even though I have some code about 50 letters/numbers long !

[SantiSuk]

Just what the world needs - another implement of greed and stupidity.

I guess its a case of som nam na for capitalism. In my lifetime it has singularly failed to spread wealth and hope (and looks like accelerating through increasingly divisive wealth gaps in the richest nations towards its inevitable demise). No wonder world culture is gravitating towards get rich and famous quick schemes - to wit, celebrity adoration, property as speculation and now digital currency speculation.

[moradave]

But the big question for us Brits is will it go up against the pound ,or the baht or ,oh what the fuc_k is a bitcoin?

To learn about BitCoins go to: http://bitcoins.com

[brit1984]

Just what the world needs - another implement of greed and stupidity.

I guess its a case of som nam na for capitalism. In my lifetime it has singularly failed to spread wealth and hope (and looks like accelerating through increasingly divisive wealth gaps in the richest nations towards its inevitable demise). No wonder world culture is gravitating towards get rich and famous quick schemes - to wit, celebrity adoration, property as speculation and now digital currency speculation.

are you missing those good old days before capitalism?...

[rwdrwdrwd]

Can have a look at, https://localbitcoins.com/country/TH

Have used some of the traders on there before no worries. Not the best rates but hey. There is also bahtcoin and bahtbit in regards to private exchanges that are still running after the whole "banning" and their exchange is better depending on what side of the bed they woke up on for the given month.

Thank you for that, wish I'd found that 4 weeks ago - got some now anyway cheers

[meechai]

At least fiat currencies are backed by aircraft carriers and nukes.

Kind of ironic that those aircraft carriers & nukes are a large reason

your fiat has devalued yearly in buying power.

PS: I Dont have any bitcoins

[brit1984]

A bitcoin chart covering four years:

Bitcoin 4yrs.png

How can I short bitcoin?

You can't...

Bitcoin is a gigantic pyramid scheme imo.

It's backed by hot air and it will revert back to nothing.

At least fiat currencies are backed by aircraft carriers and nukes.

This being said, there might be big players behind it...very big...in that case all bets are off.

actually i had a look at this and there are contracts available for shorting bitcoins on some of the main exchanges

i'm sure some hedge funds will be watching this asset with great interest as a potential play on the way back down

[pancakeman]

At least fiat currencies are backed by aircraft carriers and nukes.

So if run away inflation results from ben bernanke's reckless money printing...they are going to send in the aircraft carriers and nukes to make sure 7-11 doesn't increase the price of bread too quickly?

[brit1984]

At least fiat currencies are backed by aircraft carriers and nukes.

So if run away inflation results from ben bernanke's reckless money printing...they are going to send in the aircraft carriers and nukes to make sure 7-11 doesn't increase the price of bread too quickly?

did saddam hussein have weapons of mass destruction?

did saddam hussein start trading oil in euros instead of dollars?

[Naam]

I received the following email in my inbox today from Money Morning. Thought it was interesting there are now 90 of these crypto currencies...

Cheers

Fletch

----------------------------------

27 November, 2013

• Are cryptocurrencies the new dotcom stocks?

• The unbeatable tax advantage landlords have over first-time buyers

• Central America: violent, impoverished – and attracting billions

• Yesterday’s close: FTSE 100 down 0.9%to 6,636… Gold down 0.68% to $1,242.79/oz… £/$ - 1.6216

From Dominic Frisby, in London

Dear Reader,

You've heard of bitcoin, right.

But what about namecoin? Or novacoin? Or even quarkcoin?

Get with the coins, guys! Cryptocurrencies are the new dotcom.

The wild world of cryptocurrencies

Namecoin was up 120% yesterday. Not last year, or last month, but yesterday.

Novacoin? That was up 185%. Quarkcoin? 230%.

But the big mover, well, that was craftcoin. That was up 1,557.8%. In one day.

I doubt even the bloke who discovered Ghawar (the world's largest oil field) saw daily gains like that.

Yesterday I went to meet a private investor who makes his living speculating in cryptocurrencies. We had met virtually a few years ago, in 2010 (I think). He got in touch and gave me a couple of bitcoins – he was living with 'one of the blokes who developed them'.

.........

Continued here http://moneyweek.com/bitcoin-and-cryptocurrencies-the-new-dotcom-stocks/

Edited for fair use and link to article added, Crossy.

Namecoin was up 120% yesterday. Not last year, or last month, but yesterday.

how was Naamcoin doing yesterday Fletch?

[brit1984]

I received the following email in my inbox today from Money Morning. Thought it was interesting there are now 90 of these crypto currencies...

Cheers

Fletch

----------------------------------

27 November, 2013

• Are cryptocurrencies the new dotcom stocks?

• The unbeatable tax advantage landlords have over first-time buyers

• Central America: violent, impoverished – and attracting billions

• Yesterday’s close: FTSE 100 down 0.9%to 6,636… Gold down 0.68% to $1,242.79/oz… £/$ - 1.6216

From Dominic Frisby, in London

Dear Reader,

You've heard of bitcoin, right.

But what about namecoin? Or novacoin? Or even quarkcoin?

Get with the coins, guys! Cryptocurrencies are the new dotcom.

The wild world of cryptocurrencies

Namecoin was up 120% yesterday. Not last year, or last month, but yesterday.

Novacoin? That was up 185%. Quarkcoin? 230%.

But the big mover, well, that was craftcoin. That was up 1,557.8%. In one day.

I doubt even the bloke who discovered Ghawar (the world's largest oil field) saw daily gains like that.

Yesterday I went to meet a private investor who makes his living speculating in cryptocurrencies. We had met virtually a few years ago, in 2010 (I think). He got in touch and gave me a couple of bitcoins – he was living with 'one of the blokes who developed them'.

.........

Continued here http://moneyweek.com/bitcoin-and-cryptocurrencies-the-new-dotcom-stocks/

Edited for fair use and link to article added, Crossy.

Namecoin was up 120% yesterday. Not last year, or last month, but yesterday.

how was Naamcoin doing yesterday Fletch?

up to you...

make a website with the latest buy/sell quote and a "buy now" link and see how it goes

personally i prefer britcoin