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Bitcoin

Discussion in 'Black Hat SEO' started by Crackus, Jul 6, 2013.

  1. Crackus

    Crackus Registered Member

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    What are your thoughts on bitcoin?
     
  2. unclemike

    unclemike BANNED BANNED

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    Uneasy market that you need to be careful with since the price is dropping steadily.

    Cheers,
    Unclemike
     
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  3. Patel

    Patel Senior Member

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    Its in its "AOL/dial-up/56k" phase, compared to the 100mbps/1gbps we have now. Very early stages and very volatile right now. Personally, I think its here to stay.
     
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  4. Crackus

    Crackus Registered Member

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    Marketing wise you could make a fortune if you bough when bitcoin was down, it went over 1000% in such a sort notice. Indeed unstable but I am also scared its price is controlled by groups of people.

    You think it would be easy to control the demand and offer of such a currency?
     
  5. superslikuzi

    superslikuzi Junior Member

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    great idea, poorly executed and market.
    I also heard the US gov was trying to shut it down
     
  6. StirlingMedia

    StirlingMedia Junior Member

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    Just sold my coins and got out the other day, it's stuck in a downwards trend right now and public interest has really cooled off.
     
  7. unclemike

    unclemike BANNED BANNED

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    Yes, currency is controlled in every form. At anytime the Feds could print trillions and make the dollar worth dirt.
    And they could destroy currency and raise the value.

    Same with Bitcoin. Someone knows how many Bitcoins are out their in total and I am sure some people have more
    shares than others. I am sure their is manipulation within the e-currency market. Why not? They do it with real money every
    day.
     
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  8. iglow

    iglow Elite Member

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  9. RuiGomes

    RuiGomes BANNED BANNED

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    In my humble opinion Bitcoin will be absolutely destroyed as soon as Butterfly Labs start sending out their ASIC miners, those things can mine several bitcoins A DAY and there are dozens of pre orders, I don't think the market will last long after those beasts are delivered.
     
  10. Repulsor

    Repulsor Power Member

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    Trading bitcoins is like trading any other currencies. Mining bitcoin is yet another story.
     
  11. phracktl

    phracktl Regular Member

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    The Wincklevoss ETF is a huge sell signal methinks
    More seriously, two factors undermine my interest in it longer term.
    1. I expect many more competitors to arise if BTC public demand broadens.
    2. All in the space will be brought into line with FinRegs. True currency competition is not desired by tptb
    & I'm no more keen on BTC mining than I am on junior gold miners
     
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  12. xPWN1t

    xPWN1t Regular Member

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    It is quite the opposite. There is no central control of the currency, Bitcoins can only be mined so fast, and there are only so many of them. It is open source and nobody has more control over the currency than anyone else.
     
  13. davids355

    davids355 Jr. VIP Jr. VIP Premium Member

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    In my research I have understood the following:

    even with a really good graphics card, mining is not cost effective at all.

    you have to have an ASIC miner, but these are hard to get - orders from butterfly labs are only shipping still from around 12 months ago.
    i am sort of guessing but I think if you order now, it might take 12 months + to receive the miner.

    by that time it will probably be as useful as GPU mining is now.
     
  14. Ash2012

    Ash2012 Regular Member

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    They made me a chunk of cash when they rocketed up from $30. I still have a small amount but not entire convinced they're going to boom again like last time. I guess it depends on if another European country gets fucked like Cyprus did.
     
  15. artizhay

    artizhay BANNED BANNED

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    No. Please. Not another thread. Make it stop. Don't start this again.
     
  16. davids355

    davids355 Jr. VIP Jr. VIP Premium Member

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    Yea, we need a bit coin section :)
     
  17. sudorank

    sudorank Power Member

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    It's great for buying things on silk road. I'm smoking some "product" right now ;)

    Not sure about it as a mainstream currency. It's too technical for the average bloke off the street.
     
  18. BadyBoySEO

    BadyBoySEO Regular Member

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    About a month ago their was some supposed manipulation occurring during a low volume period on a Sunday and while Bitcoin remains a small volume instrument, the potential for market manipulation is huge.
     
  19. watley

    watley Power Member

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    You should read a little more about Bitcoin. The early adapters to ASIC miners might mine several Bitcoins per day, but the difficulty of mining Bitcoins will increase as a result.

    By the way OP, what does this have to do with SEO?
     
  20. m00j99

    m00j99 Registered Member

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    1) Dont think about starting to mine - its not worth your time, effort and money
    2) Get some money into an exchange now - wait a few days more - in the short term price will drop a little further.. -> Buy -> Wait until the next hype -> Sell. But please dont invest more money than you can afford to loose!