Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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Dan suggested https://bitbargain.co.uk/
Which is what i used. Nice and simple. (helped by the seller also having a Barclays account so instant transfer)
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Paul_J
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Registered: 6th Jun 02
Location: London
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quote:
Originally posted by Ian
Surely all that 'new' money doesn't really exist. Still baffles me where all the real money is.
It doesn't 'exist' ... like any speculation, you have nothing until you exit your position and cash out.
That amount of money on paper is based on the current BTC price... but if everyone tried to liquidate their position, there would be a flood of BTC on the market making the price drop significantly.
A lot of the early adopters cashed out from Chinese investors buying large quantities... at the same time the recent hype meant there was more demand than the amount available for sale currently (as most people are hoarding rather than selling) causing the price to rise.
Now the Chinese market is cooling off, it's mainly just speculators getting in now buying a few coins that are letting people still cash out now if they wished - but since the general 'belief' / 'hope' is that the price will keep rising to infinity, most people are not cashing out - as they think they can ride the bubble to become a millionaire... (i.e. not people who have 10000-20000 btc, but rather people that have 1-10)...
Of course, there would be so many people who are in that boat, that if the price ever reached anywhere near that - it would drop as others would be exiting the market first... This is why the belief is the price could stabilise around the $1300 mark if demand continues (and people still don't sell) - but not the $100,000+ that these dreamers getting in late are hoping.
I think most people who have some BTC (myself included) are now just thinking it's worth a punt to see where it goes... if in a few years it's become the global currency which is used everywhere, then we're essentially still early adopters compared to 99% of the world's population - equally, if it dies and loses all value not much is lost.
I personally wouldn't be (this late in the game) buying up loads of BTC at these recent prices in the hope of getting rich though.
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Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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How much BTC do you have Paul? Bought or mined?
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Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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Noticed this from the other Bitcon thread from earlier on this year.
quote:
Originally posted by Doug
I have 0.66 bit coins that I want to sell. Anyone want to give me some cash on paypal for them?
Wonder if Doug still have them? Worth a few hundred quid there now!
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Dan
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Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
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I reckon another big rise gonna happen shortly. There's shit loads if buying going on. Some big buys going in.
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
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Don't see why people are getting excited, sounds like a waste of time unless you've got loads of money to stick in, same as everything else.
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Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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tell that to people who bought BTC for a few quid and now have thousands worth.
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John
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Registered: 30th Jun 03
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That's the whole guts/luck/timing thing. A bit of a triangle.
Depending where you get in, you need to have 2 of the 3.
People who mined/bought them for nothing had as good a chance of bitcoin taking off as any other random currency.
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A2H GO
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Registered: 14th Sep 04
Location: Stoke
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Exactly John.
This boat sailed 6 months ago.
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Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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People seem to be getting alright prices on ebay
http://www.ebay.co.uk/itm/1-LITECOIN-1-0-DIGITAL-CURRENCY-LTC-Like-BTC-UK-/141132913974?pt=UK_Coins_World_RL&hash=item20dc2d5d36
If i sold at thati'd have made money already 
Gonna hold out for the millions though. Best get Aston Martin on speed dial actually thinking about it. 
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Brett
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Registered: 16th Dec 02
Location: Manchester
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Noticed a guy selling them for £18 on ebay currently.
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Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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Seems odd someone would pay £35, some folk don't like auctions though i guess
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Dan
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Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
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It's so u cAn pay with PayPal. Prices are increased because of risk of payment reversals.
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Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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ahh yeah, fair point.
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
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quote:
Originally posted by Paul_J
if everyone tried to liquidate their position, there would be a flood of BTC on the market making the price drop significantly.
That's my point, those millionaires can't ever realise it because in doing so, they also kill the rate.
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Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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I guess they'll be hoping/holding out for BTC to become more mainstream so they can actually buy things of worth with them.
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Brett
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Registered: 16th Dec 02
Location: Manchester
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Lamborghini take bitcoin 
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Dan
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Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
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I reckon, a lot of the big holders are drug stashes??
If I owned serval millions worth of coins, id be selling them slowly over the course of months to get the best value.
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Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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How do you get your cash into btc though. Offshore accounts etc you reckon?
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Dan
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Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
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Probably. Im sure with the looks of these dodgy accounts that btc-e use, theres ways around it all.
Makes paying for drugs real easy. No need to carry large sums of cash anywhere, and its virtually untraceable, if you have a good way of getting cash into them from what I can see.
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Dan
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Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
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Just noticed, bitcoins and litecoins have both got a cup and handle pattern appearing on the 7 day chart. Could be a signal that a huge rise coming.
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Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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Cup and handle? We talking about coins or brews here?
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Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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Also. How do you get cash into this apart from spending a fortune on mining?
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Dan
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Registered: 22nd Apr 02
Location: Gorleston on Sea, Norfolk
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WHat u mean gary?
I think with these two coins, only way in now, is to buy in and buy coins. Like the examples I posted the other day, if u buy enough software now to mine a decent amount, buy the time u are a few weeks into it, the difficulty is so high that you can buy more coins with the investment now.
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Gary
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Registered: 22nd Nov 06
Location: West Yorkshire
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Investment is actual money. My ing is just buying computer parts.
Early on that would apply more. Not not though as you say
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