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i was wondering if any of you had experience and/or opinions on this newfangled cryptocurrency sweeping the media that doesn't even have a well-defined plural.

this article points out that the typical bitcoiner is a 19 year old geek with zero business experience who thinks the idea's neat, and i fit perfectly into that category, except that i'm a year older and i don't have any bitcoins yet.

i picked up interest in them two weeks ago after reading about the plight of that norwegian guy, and contemplated getting one for the hell of it because the name sounds cool, but i couldn't be bothered. shame though i would have doubled [edit: TRIPLED. what a difference 6 days makes.] [edit: QUADRUPLED. i made this post 10 days ago. WHAT THE FUCK?] my money by now dammit

having just hit an all time high, do you still think it's worthwhile as a long term investment, or is the whole thing just going to not face up to all the attention it's getting and crash and be forgotten about?

that concludes the section of this post dealing with bitcoins. since the title of this topic is "bitcoins and stuff", the rest of this post will now be dedicated to "stuff". in particular, i may or may not wish to duct tape someone to a ceiling in future, but i need some preliminary data: this poll needs more votes.

God knows. I have also vaguely considered buying some Bitcoins, and that was like a year ago so god damn it I could have made a lot of money. But really that was never going to happen because I'm way too risk averse to ever put a significant sum into something like this.

I couldn't see it as a valid long-term investment. When I look at Bitcoin market charts and see the way it's gone up in the last month? It looks pretty god damn precipitous, and you have to wonder what the reasons for its surge are. Reports do suggest that it's partly being driven by increasing faith in its long-term viability as a currency, with a division of Baidu accepting it as a payment method and what not. But... I think a lot of the money that's going into Bitcoin and driving the prices up has to be speculative. And at some point it's got to come falling down. Probably. Maybe.

having just hit an all time high, do you still think it's worthwhile as a long term investment

alarm bells

Bitcoin's up nearly $200 since you made this topic. Daaaaamn.



My tentative thoughts are now that it will ride this wave of good publicity for a while. If I could be bothered I'd buy a Bitcoin or two now.

Asrock is going to manufacture mobos specifically for bitcoin mining. Lets you add up to 6 gfx cards so they can do the mining. http://www.engadget.com/2013/11/18/asro ... herboards/

ℕipply ℙuffs® wrote:you have to wonder what the reasons for its surge are

Huge black market / deep web drug deals and weapon cartels. As long as drugs are illegal I'd say bitcoins are a solid investment.

Universezero wrote:

ℕipply ℙuffs® wrote:you have to wonder what the reasons for its surge are

Huge black market / deep web drug deals and weapon cartels. As long as drugs are illegal I'd say bitcoins are a solid investment.

Even though Bitcoin prices have been dropping for the last eleven months (despite a temporary rally in May/June) and are down to less than 1/3 their peak? It was a speculative bubble. If they keep dropping, Bitcoin prices might eventually reach their actual value.