Hi guys, so was doing some reading on wired today... saw this http://www.wired.com/opinion/2013/05/lets-cut-through-the-bitcoin-hype/ This is the wikipedia page that tells you about Bitcoin (if you were as clueless as I was about it two years ago) http://en.wikipedia.org/wiki/Bitcoin What do you guys think about a new currency like this? Would it help or hurt online sales, both Legal and otherwise. Do you think it would help lego investors as being an easier way to transfer funds..? Just thought it could be fun to talk about..

Maybe you should read about bitcoin and then realize it isn't necessarily a gamble at all. 

 

The smart ones are converting bitcoins to USD as soon as they receive them. The losers are converting their hard earned USD to bitcoin. Come back in a year and tell me how your "investment" works out. This scenario has been played out many times throughout human history and we all know the ending (except for the starry eyed gamblers who insist this time is different). 

The smart ones are converting bitcoins to USD as soon as they receive them. The losers are converting their hard earned USD to bitcoin. Come back in a year and tell me how your "investment" works out. This scenario has been played out many times throughout human history and we all know the ending (except for the starry eyed gamblers who insist this time is different). 

 

This..... unless peopel invested in BitCoin at the start.... it is now useless....

 

I had the option to buy alot 3 years ago for ''cheap'' USD, but i passed, while now I am pretty unhappy I know the end is coming so its no point buying them at all.

Using bitcoin to buy rare lego sets in the dark internet :-)

Using bitcoin to buy rare lego sets in the dark internet :-)

 

Sounds good...lately, one BTC is around the same price as a used Taj Mahal!

 

(p.s. Ripple now up to 32 per dollar)

We're going to share a jail :-(

China banned bitcoin today. Its never been so cheap to go in. Has dropped about 400 bucks today. don't sleep.

For those into bitcoin and following it.. Tiger direct. Com has now alowed the use. Big deal. I'm sure most here are familiar with tiger direct. Time to start paying attention.

Bitcoin is supposedly about to enter another significant price increase...Canada just make it legal tender...the US is auctioning a bunch of it off TODAY (Friday 6/27)...it's about to be traded on the NASDAQ...and more retailers continue to accept it.  At its current price of $570 most would argue that it's "Cheap" and a lot of analysts are expecting a price around 3-5k by the end of this year and some are calling for a 800-900 price by the end of July (That's only one month!).  There hasn't been a better time to get into Bitcoin and if you're interested in diversifying your portfolios you can start at Bitcoin.com

 

Happy Investing!

$586.50 now so, I'll watch it over the next few days.

 

EDIT... just gone up another

Thanks for the update.  When the price doesn't move much I take my eye off the ball.  I used to own a lot of them but now just .75 bitcoin. 

By the way, I have some 100-120 MSRP sealed Lego sets I would sell for Bitcoin at MSRP + 10 dollars shipping if anyone's interested.  (I think this is allowed since one of the two items is Lego).  I can provide a list.

In other news, I reserved a bunch of domains representing 'brickcoin', probably about a year ago.  I had/have some really good ideas for this but just lack the time and the programmer knowledge to get the idea off the ground.  If anybody might be interested, get in touch.

Hanging right on the cusp of $600...

 

Brickcoin seems like fun, I played with colored coins (a side chain of the bitcoin block chain) and made Legocoin to play with.  I thought it was fun.  I wish we could use some tipping software on here to send people Bitcoin tips for good advice/posts...Emazers would be swimming in bits!

Everyone knows of the Mythbusters. Well here on their YouTube channel, Tested, a couple of the guys tried buying a single Bitcoin from one of the only Bitcoin ATMs in existence. A rather amusing romp on how from the time they tried 'purchasing' one, to trying to find a place open that actually accepts it as currency, to the end of the day where they tried getting physical cash back, all the while the value of the Bitcoin kept dropping the entire time. They did make a couple of mistakes around the end which was rectified here in this article on their website. Still, talk about a clusterfluff.

 

I've been looking deeply into Bitcoin over the last couple of days and it is very tempting. I love the idea of a universal payment system with minimal fees and no bank or corrupt government to poke their noses in. Canada making it legal tender and rumours of Amazon accepting it are making it tempting. Especially with only 21,000,000 max will ever be minted (mined). Once I've topped up my ISA next month, any excess GBP is becoming XBC. It can't be worse than CITY or CHIMA, surely.

What would make you feel worse, losing $600 from one Bitcoin in two years or missing out on a $60,000 windfall if you didn't have the balls to take a risk? We're taking risks right now, aren't we?

I've been looking deeply into Bitcoin over the last couple of days and it is very tempting. I love the idea of a universal payment system with minimal fees and no bank or corrupt government to poke their noses in. Canada making it legal tender and rumours of Amazon accepting it are making it tempting. Especially with only 21,000,000 max will ever be minted (mined). Once I've topped up my ISA next month, any excess GBP is becoming XBC. It can't be worse than CITY or CHIMA, surely.

What would make you feel worse, losing $600 from one Bitcoin in two years or missing out on a $60,000 windfall if you didn't have the balls to take a risk? We're taking risks right now, aren't we?

Hate to break it to you, if the Bitcoin flops...you can't build it.  LOL

Too late, I've just spent

Too late, I've just spent

I'm not smart enough to figure out Bitcoins as an investment. I'll stick with investing in Acrylonitrile butadiene styrene (ABS) (chemical formula (C₈****₈)_x

At least you're getting your Carbohydrates! Lego just doesn't smell the same since the old cellulose acetate days, does it?

Speaking of LEGO smell...it does have a distinct one if kept in bulk.  As for cellulose acetate, I am actually quite familiar.  My father used to work for Dupont and the Celanese corporation.  I grew up around chemicals....

The smell of ABS..... that is the thing I most remember when I worked for Mattel......the whole facility smelled like that.......

Speaking of LEGO smell...it does have a distinct one if kept in bulk.  As for cellulose acetate, I am actually quite familiar.  My father used to work for Dupont and the Celanese corporation.  I grew up around chemicals....

Did that give you your reddish hue, or is it something more sinister...

I don't get the virtual currency idea. I'm not techy, so I don't really understand it or get it. I like cold hard cash and precious metals. Virtual currency doesn't seem real and tangible....like it's just made up out of air and it seems super unstable.

I don't get the virtual currency idea. I'm not techy, so I don't really understand it or get it. I like cold hard cash and precious metals. Virtual currency doesn't seem real and tangible....like it's just made up out of air and it seems super unstable.

I'm a bit of a 'techy' and I think the Bitcoin is BS far as a form of currency goes.

I think, the second China's authorities allow bit coins, they will skyrocket and eventually even take a sustainable place in China's financial scene, replacing the shadow banks.