DUMP YOUR BITCOINS

r00t · #1 10-02-2013, 01:32 PM

They're even more worthless now!

http://techcrunch.com/2013/10/02/fbi...-arrest-owner/

AlfredENeuman · #2 10-02-2013, 01:37 PM

What, Me Worry?

Recycled Children · #3 10-02-2013, 01:45 PM

I invested in LiteCoins.

feanan · #4 10-02-2013, 02:33 PM

Besides the fact that bitcoins are useful for other reasons...

The US war on drugs has worked so well. It's so unlikely that something else will take it's place.

/sarcasm off

Orruar · #5 10-02-2013, 02:46 PM

Great opportunity to scoop up some cheap bitcoins. In economics, you usually don't want to follow a herd of panicking people.

ncapatina · #6 10-02-2013, 03:35 PM

Apparently enough idiots thought this would make a difference and started dumping. BT price skyrocketing right now, it's jumped from $110 to $150 in the last 3 hours.

Some people made tens of thousands of dollars this afternoon playing the market panic. Don't be a sheep.

ncapatina · #7 10-02-2013, 03:36 PM

https://www.mtgox.com/ if you want to check the price on the biggest exchange. Click the little graph icon in the top left.

r00t · #8 10-02-2013, 03:41 PM

I know it isn't the death of the internet black market. This dude was clearly a moran. He should have hosted in Iran and lived in North Korea, then the feds would never bust him.

btw when people dump prices go down, that whole supply > demand thing....

r00t · #9 10-02-2013, 03:47 PM

oh man unless there was some billionaire warren buffet who bought all the bitcoins and is now sitting on all of the supply markin it up like the <religious slur> he is

ncapatina · #10 10-02-2013, 03:50 PM

Yes but people dump out of panic. Then it hits a threshhold and every autotrigger people have setup fires at once and the price skyrockets. Then you can resell at the new higher price and wait for it to stabilize and buy.

A friend of mine out in Seattle just put 100k down on a house ALL off of bitcoin money. Half he made by making them and being an early adopter, the other half he made day trading them. The fees are so small even a fluctuation of 20 or 30 cents he was making $200-300, reinvesting it in coins and starting it all over again.

BTs bottomed out around $80 and there are active sales over $130 now. In a period of less than 12 hours. If you were sitting on 500 BTs and flipped them all you'd end up with 800+ coins if you timed it right. Assuming the price stabilizes around $120 where it was at you would have made yourself $36,000+ for clicking 2 buttons, not a bad day at the office.