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Bitcoin/Litecoin etc

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Original thread gone?

Bitcoin back on the up today after a couple of days with very little movement.

Litecoin doing well still but down today a bit. It really needs gox to announce a date for thier trading engine to open, kinda in limbo at the mo it would seem

@leanne I havent looked into desktop/offline wallet software, is that something you are looking into?

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and litecoinqt is the wallet instead of bitcoinqt. tho there are different ones you can use.

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Trading Bitcoins could bleed you dry, the European Union’s top banking regulator said as it weighs whether to regulate virtual currencies.

Thefts from digital wallets have exceeded $1 million in some cases and traders aren’t protected against losses if their virtual exchange collapses, the European Banking Authority said today in a report warning consumers about the risks of cybermoney.

about.bloomberglaw.com...

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items of worth in theft shocker

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Read on - not the point really to highlight - but the fact they are considering regulation and taxes:

People holding virtual currencies may be subject to value-added or capital gains taxes, the EBA said.

The government of Norway, Scandinavia’s richest nation, said it would treat Bitcoins as an asset and levy capital gains tax on them.

“Bitcoins don’t fall under the usual definition of money or currency,” Hans Christian Holte, director general of taxation in Norway, said in an interview.

For virtual currencies to be regulated in the EU, the EBA would have to get approval from the European Commission, the 28-nation bloc’s executive arm.

We “support the EBA warning to consumers on the risks associated with virtual currencies,” Michel Barnier, the EU’s financial services commissioner, said in an e-mail.

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also, JP Morgan looking to set up their own virtual currency? the backlash is on:

JPMorgan Chase has filed a US patent application for a computerised payment system that resembles some aspects of Bitcoin, the controversial virtual currency.

Like Bitcoin, JPMorgan’s proposed system would allow people to make anonymous, electronic payments over the internet, without having to reveal their name or account numbers or pay a fee, according to the patent application.

www.ft.com/cms/s/0/e23...

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that could be a good thing though?

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They'll bring it in, patent it, then nail it to the wall.

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a good thing for the price of bitcoin in the short run perhaps ferg

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yeah.. certainly very interesting times no matter what happens

although i only hold ltc, its fortune is pretty much pegged to that of btc

gonna try and buy something from an aussie site called millenius with some coins as a bit of an experiment, requested a quote there

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the JP system still need enthusiast support to work... I'd imagine many of the early adopters associated with crypto-currencies would be wary of their involvement.

but from the article it seems they are more interested in using the blockchain elements to record transactions than proviving alternate currencies.

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So what have they patented? Shared processing?

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internet transactions apparently...

appft.uspto.gov/netacg...

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nice link

"A computer-implemented system of providing an anonymous payment from a mobile device to a payee device to enable an electronic payment between a payer and a payee without provision of an account number or name from the payer, the method comprising: payer information and instructions stored in a computer memory at a host server; and a computer processor accessing the computer memory to retrieve the payer information and instructions and executing the instructions to perform steps including: receiving at the host server, a bill payment message from the payee, the bill payment message including a transaction ID; transmitting the transaction ID to the payer, the transaction ID permitting the payer to initiate transmission of a payment amount; generating a payment authorization message from the payer, the payment authorization message including a payment amount to be tendered to the payee and the transaction ID, the transaction ID allowing identification of the payment, thereby enabling redemption of the payment amount after the payee receives the transaction ID; and transferring the payment amount from an account associated with the payer to an account associated with the payee"

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It seems so generic as to be unpatentable... God bless the US IP law.

Wonder if it will be approved.

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could be a decent time to get in.

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who wants to sell me £500 worth of bitcoin?

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I'll take £2k of LTC

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Put me down for 4K

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Scratch that

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Aul kaizen

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Check your fb

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China bans new Bitcoin deposits

“China has blocked the country’s Bitcoin exchanges from accepting new inflows of cash, a move that imperils the much-hyped virtual currency in its biggest market. The head of BTCChina, the world’s largest Bitcoin exchange by trading volume, said he had received word at midday on Wednesday that his platform would no longer be able to accept renminbi from would-be Bitcoin buyers,” reports the FT.

It adds: “As of early afternoon the Bitcoin price in China had fallen more than 25% on the day to Rmb2,800 ($461) per unit. It has been a rollercoaster ride for the virtual currency, which soared as high as Rmb7395 per unit in early December, up some 50-fold since the start of the year.”

China’s clamp down on Bitcoin trading has resulted in them trading at a 15% discount in the country than elsewhere in the world. A month ago, they traded at a 30% premium.

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money.cnn.com/gallery/...

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lovely price now

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going lower

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Turbo panic sell

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Yeow

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ltc 10 dollars now. people going mad. suicide rate has increased.

tempting to buy a whack of them now, but i told myself id buy no more. could be tempted if it goes below 4$ tho.

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If it goes anywhere near $4 you should be getting it clean bucked.

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Da fucks going on here then?

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Chinese moon landing backlash

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SELL SELL SELL

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BTC / LTC are bomb proof

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YOURS!!!

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I hope one of the shitty altcoins I've bought in the thousands for next to nothing come out of this on top. As the prices are all linked I doubt it though. Told my m8 last night I thought I'd be able to buy 4 btc before the end of jan for under 1000$. Hope I'm right. The price went wild on Monday with that news of the exchange ban in china. At least it means that china won't set the price of btc anymore, which will be good as they're masters of pump n dump and know exactly how to manipulate the price. It's a good thing, cheap btc and a future price that's not set by Chinese bitcoin traders. Feel sorry for anyone who bought in over 1000$, gonna be a while before they hit that again.

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Holy fuck :(

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which coins did you buy into PAT
FTC, PPC, XPM?

Don't worry Leanne, its only a loss if you sell low, you have seen the price drop and stay low for months before, just have to wait it out. Unless this is the big final crash, in which case i'd get a copy of the imperial march on and sell like fuck

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Aye my offers open to everyone by the way. $5 per LTC coin. Get out early, before the crash

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gonna have to start calling you flip-flop with your menopausal approach to this market

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I have lots of quark, globalcoin, tagcoin, spots, junkcoin, florincoin, sexcoin, and I forget what other ones. I have some btc, less than one now because of all the crappy altcoins I've bought into. Have some ltc, not many, some xpm, nvc. Also have dollars on btce, to buy stuff if it gets cheap. It's sort of became an obsession. I really didn't want to get into this but I couldn't help it, I mean, sexcoin! Who doesn't want a piece if that?

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I want some sexcoin

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Jesus PAT! How the hell do you plan do get out of those things when the shit hits the fan?

One of the best features of BTC was the finite supply from increased mining complexity but that becomes nullified when you have so many identical crypto-currencies and therefore an infinite supply

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only nullified if merchants and sites start accepting them all tbf

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id love a sexcoin

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Fair point and no merchants are ever really going to start accepting any of them (including ltc) given the volatility and inability to hedge them so they're all worthless

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except the sexcoin

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that things priceless

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SXC aims to provide adult content consumers, performers and producers a fast, stable and secure method of accepting micro transactions, protecting their customers privacy and progressing adult retail services into the crypto age.

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To be honest I bought them knowing most of them would most likely be worthless, I've been following BTC for ages, so kind of knew the risks involved in cryptocurrency. It's a laugh, I'm just glad I didn't heavily invest in anything. If it all goes tits up I'm going to leave it and forget about it all, cringe every time I hear someone mention the subject and take it as a lesson.

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10^3

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