Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
Please note this sub-forum does not provide professional finance advice. You should seek advice from a licensed financial advisor. If investing please consider our affiliate links for new accounts: Sharesies or Hatch. To post in this sub-forum you must have made 100 posts or have Trust status or have completed our ID Verification



greenbone

176 posts

Master Geek


#133884 6-Nov-2013 23:24
Send private message

still a bubble? whats the general consensus

View this topic in a long page with up to 500 replies per page Create new topic
 1 | 2
mattwnz
18772 posts

Uber Geek


  #928434 6-Nov-2013 23:28
Send private message

No one knows. Speculation and greed?

Affiliate link
 
 
 

Affiliate link: You will find anything you want at MightyApe.
1080p
1332 posts

Uber Geek
Inactive user


  #928447 7-Nov-2013 01:57
Send private message

Yep, sell if you have them and wait for Silk Road v2 to be busted then buy them back. Rinse and repeat.

Dairyxox
1590 posts

Uber Geek


  #928522 7-Nov-2013 09:28
Send private message

Bitcoin is coming up in china. Baidu is now accepting it as payment for a security suite and speculators believe that this means it has been approved for business use by 'the state'. Great news for everyone if it becomes more widely accepted in China.



Beccara
1445 posts

Uber Geek

ID Verified

  #928527 7-Nov-2013 09:36
Send private message

It's gambling and if you approach it is such and only play what you can afford to loose then good on you. Just dont drink the cool-aid this so-called new global currency's was grinding under 1 casino's transaction count




Most problems are the result of previous solutions...

All comment's I make are my own personal opinion and do not in any way, shape or form reflect the views of current or former employers unless specifically stated 

BinaryLimited
796 posts

Ultimate Geek

Trusted

  #928580 7-Nov-2013 10:41
Send private message

Beccara: It's gambling and if you approach it is such and only play what you can afford to loose then good on you. Just dont drink the cool-aid this so-called new global currency's was grinding under 1 casino's transaction count


Yep, don't drink the cool-aid!
Very surprised on the price hike tho. Thought it would of vanished after silk-road got busted, considering they had a big majority!




TwoSeven
1499 posts

Uber Geek

Subscriber

  #928585 7-Nov-2013 10:48
Send private message

Perhaps the demand is just being created from bitcoin farmers.




Software Engineer
   (the practice of real science, engineering and management)


jpoc
1034 posts

Uber Geek


  #928752 7-Nov-2013 13:15
Send private message

TwoSeven: Perhaps the demand is just being created from bitcoin farmers.


Most unlikely. The daily volume that is being mined is but a tiny fraction of the daily volume that is traded. Miners have little impact on the price.




TwoSeven
1499 posts

Uber Geek

Subscriber

  #928783 7-Nov-2013 13:47
Send private message

It was my understanding that the miners get a bitcoin commission from validating transaction blocks. The more people get into mining the more bitcoin commissions are paid out.

The value of a product is based on a demand and supply, so the more people that get awarded bitcoins either increases the supply, or puts up the price I would have thought. It isn't like regular currency which is based on the scarcity of a set of commodities as far as I understand it.





Software Engineer
   (the practice of real science, engineering and management)


jpoc
1034 posts

Uber Geek


  #928854 7-Nov-2013 15:41
Send private message

TwoSeven: It was my understanding that the miners get a bitcoin commission from validating transaction blocks. The more people get into mining the more bitcoin commissions are paid out.

The value of a product is based on a demand and supply, so the more people that get awarded bitcoins either increases the supply, or puts up the price I would have thought. It isn't like regular currency which is based on the scarcity of a set of commodities as far as I understand it.



Sorry but you do not understand how it works at all. It is worth reading the wikiP entry.

The number of new coins awarded to the miner who finds the next block is fixed - in the short term but is halved every few years - and the rate at which new blocks are found is also fixed. Thus the number of miners has no impact on the rate at which new Bitcoins are created. As miners add more and more computing power to the Bitcoin network, the computational difficulty of finding the next block is raised so that the rate of new block creation is kept constant. The result is that it takes more computing power (on average) to find each block so the return to miners - in terms of Bitcoins per $worth of computing power and electricity - goes down. Technology changes giving miners more power to find blocks at lower capital cost and lower power consumption are countered by the increases in difficulty. As I noted earlier, the rate at which new coins are generated is now much much less than the number that are bought and sold each day on the exchanges so the behaviour of miners has little or no impact on Bitcoin prices.


greenbone

176 posts

Master Geek


  #929118 7-Nov-2013 21:31
Send private message

well whatever is happening, its going to the moon

the 22 hours since this thread was created, its gone up $30

blakamin
4431 posts

Uber Geek
Inactive user


  #929140 7-Nov-2013 21:51
Send private message

Makes me wish I remembered to save my wallet info when I had 1 or 2 when they first started.

greenbone

176 posts

Master Geek


  #933733 14-Nov-2013 10:49
Send private message

$481 NZD. wtf

DravidDavid
1907 posts

Uber Geek


  #933793 14-Nov-2013 12:14
Send private message

greenbone: $481 NZD. wtf


Wow...Now I wish i bought one when it was 256, haha :D

greenbone

176 posts

Master Geek


  #936484 18-Nov-2013 10:19
Send private message

$560

BinaryLimited
796 posts

Ultimate Geek

Trusted

  #942999 29-Nov-2013 17:10
Send private message

interesting , Current Buy Price: $1,030.48 - coinbase.com




 1 | 2
View this topic in a long page with up to 500 replies per page Create new topic





News and reviews »

OPPO Launches ColorOS 13 Global Version
Posted 19-Aug-2022 11:30


GoTo Launches IT Helpdesk Functionality Within GoTo Connect
Posted 18-Aug-2022 16:55


HP on Track With Recycling Program
Posted 18-Aug-2022 16:51


Belkin Screenforce Tempered Glass Screen Protector and Bumper - Apple Watch
Posted 15-Aug-2022 17:20


Samsung Introducing Galaxy Z Flip4 and Galaxy Z Fold4
Posted 11-Aug-2022 01:00


Samsung Unveils Health Innovations with Galaxy Watch5 and Galaxy Watch5 Pro
Posted 11-Aug-2022 01:00


Google Bringing First Cloud Region to Aotearoa New Zealand
Posted 10-Aug-2022 08:51


ANZ To Move to FIS Modern Banking Platform
Posted 10-Aug-2022 08:28


GoPro Hero10 Black Review
Posted 8-Aug-2022 17:41


Amazon to Acquire iRobot
Posted 6-Aug-2022 11:41


Samsung x LIFE Picture Collection Brings Iconic Moments in History to The Frame
Posted 4-Aug-2022 17:04


Norton Consumer Cyber Safety Pulse Report: Phishing for New Bait on Social Media
Posted 4-Aug-2022 16:50


Microsoft Announces New Solutions for Threat Intelligence and Attack Surface Management
Posted 3-Aug-2022 21:54


Seagate Addresses Hyperscale Workloads with Enterprise-Class Nytro SSDs
Posted 3-Aug-2022 21:50


Visa Launching Eco-friendly Payment Solutions in New Zealand
Posted 3-Aug-2022 21:48









Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.







GoodSync is the easiest file sync and backup for Windows and Mac