Bitcoins

anuragmunjal

Well-Known Member
#51
Litecoins at 1 USD or bitcoins at 50 USD are below the cost of mining the coins even in places with cheap electricity.

Bitcoins dropped to 52.9 USD on btc-e and are now 83.4 USD on btc-e and 100 USD on mtgox. It's a good time to purchase some crypto currency before bubble 3.

My investment in a 7850 isn't really that worthwhile since mining crypto currency produces a lot of heat from the gpu and noise from the cooling fan. I'd run the machine 24/7 without the sides of the casing if I had a garage to put a PC in but now it sees only a few hours of mining during the day. I can make just under 0.05 ltc an hour with a 7850 on intensity 13 in the give-me-ltc pool. Not immediately worthwhile but it may pay off in 6 months to 6 years. It's better to buy bitcoins on the cheap than mine them unless you have a spare room or garage to put multiple PCs in.

At 1.8 usd/ltc, I'm break even for electricity costs even if my system is pulling 300 watts which I doubt it is.

bro,
if possible could u translate ur post in english for the uninitiated..
is there a way possible where someone can trade this 'thing' in a regularized exchange?

regards
 

Klewtar

Well-Known Member
#52



bro,
if possible could u translate ur post in english for the uninitiated..
is there a way possible where someone can trade this 'thing' in a regularized exchange?

regards
Exchanges that require a bank transfer are:
mtgox.com
btc-e.com

The attempts at an Indian exchange have been abandoned due to RBI restrictions.

You can buy up to 150 usd of bitcoin on virwox.com through an international debit/credit card.
 

Klewtar

Well-Known Member
#55
320 USD/BTC is the today's high.

Store your coins in electrum if ya don't have a proper bitcoin machine.

I'm tempted to jump off at this level but a 10x increase in value is possible in a few years.
 

onlinegtrash

Well-Known Member
#57
today bitcoin touched 900$

holllllllllllllllllly bitcoins!

and its trading around 700-800$...
Ironically am losing hope on bitcoins despite its ultra meteoric rise to 900$

Now its trading at 500+$

If a currency can fluctuate so wildly with mostly everyone buying it for *only* speculative purpose...
I don't see why it should not do a nose dive back to 10$ some day...

How can anyone do business with BTC if you have to sell twice as much goods in morning for given BTC but by evening BTC's purchase power has dropped to half of its morning high?
 
#58
That’s way back in February, 20 USD/BTC -that's so cheap! Look, because of its volatility from 90USD from March it went about $850 then to more than $1,000, then back to $700. And now it's back at skyrocketing $1000 per BTC; and might continue to hike about 2000+USD in just 3 -5 months.
 
#59
There is an Indian bitcoin wallet app that looks reputable called Zebpay.

1 bitcoin is now worth over INR 28,000. 100 bits (I'm not currently sure how man bits are there in a bitcoin according to Zebpay) is worth around INR 3.

I have sent in my PAN card for verification so that I can buy bits.

I don't think I'd currently put more than 1% of my networth in bitcoin but it looks promising as an international payment currency.

I made a 5 fold profit in 2013 on INR 5,000 which became INR 25,000 and I was lucky that I exited while bitcoin was on its way up before a Wallstreet bank made a 1,000+ USD projected value on bitcoin. The value of bitcoin looks like it will keep going up but there is very little data to back up my estimation.

Edit:
I started this thread in April 2013 when my Traderji username was Klewtar and one bitcoin was worth around INR 6,000.
1 million bits exist in a bitcoin according to Coinbase and I think that Zebpay follows the same principle.
 
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