>> (p.1)
    Author Topic: Did I miss it?  (Read 1336 times)

    • dannickherpderp (OP)
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    June 07, 2011, 08:44:46 PM
     #1
    Hey gang I'm new to the bitcoin thing and as a man who leans a bit libertarian I really believe in what's going on here is amazing.  And after finding out that this currency is being used for transactions that the users would prefer to be anonymous proved to me there is real value here, so I wanted to invest in Bitcoins.  So I started watching the market on the 1st of june, and then got the ball rolling to get my dwolla account and my Mt. Gox account activated.  problem is this:  Dwolla took friday through tuesday to set up, and now another 1-3 days to get the money into dwolla, plus another 12 hours to get from dwolla into Mt Gox.  And I've seen the price go from about 10.20 to over 19 in that time and then taper off.

    Firstly, What is the consensus here?  did I miss the big bubble?  Secondly, is there any faster way to get money into the mt gox account?

    Thanks, and long live bitcoin!

  • Dobrodav
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    June 07, 2011, 08:49:32 PM
     #2
    Well, if it bubble, it is just started to "inflate".
    There is steel no big investors here.

  • rebuilder
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    June 07, 2011, 08:49:46 PM
     #3
    Bitcoin is a currency. You use it to buy things. That it has appreciated in value is a side effect, and that appreciation may or may not continue. If you want to know what's going to happen to the exchange rates in the future, you might as well ask Nostradamus.
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  • dannickherpderp (OP)
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    June 07, 2011, 08:58:19 PM
     #4
    Quote from: rebuilder on June 07, 2011, 08:49:46 PM
    Bitcoin is a currency. You use it to buy things. That it has appreciated in value is a side effect, and that appreciation may or may not continue. If you want to know what's going to happen to the exchange rates in the future, you might as well ask Nostradamus.

    Fair enough.  I'm still looking for a faster way to get money into Mt. Gox.  Dwolla is going to take nearly a week to complete this.

  • MemoryDealers
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    June 07, 2011, 09:00:34 PM
     #5
    Bank Wire transfer takes about 1 or 2 business days.
    MUCH faster than Dwolla
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  • dannickherpderp (OP)
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    June 07, 2011, 09:30:47 PM
     #6
    Quote from: MemoryDealers on June 07, 2011, 09:00:34 PM
    Bank Wire transfer takes about 1 or 2 business days.
    MUCH faster than Dwolla

    The only USD bank transfer they have is by way of japan which charges a pretty steep 2500 yen for the convenience.  Was there another option?

  • Oldminer
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    June 07, 2011, 10:01:54 PM
     #7
    Yea imo the time it takes to move money around with Bitcoins is one of the biggest issues at the moment. I too was gong to purchase @ $10 but there was no way to transfer the money quick enough to do the transaction.
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  • jerfelix
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    June 07, 2011, 10:14:21 PM
     #8
    Quote from: dannickherpderp on June 07, 2011, 08:44:46 PM
    did I miss the big bubble?

    When you go to a party (a non-geek party) and hear someone else talk about Bitcoin, then you are too late.

    This hasn't even been a feature article in Business Week (yet).  When it is, that's your first clue that the bubble is getting ready to pop.  Not immediately, but it's the warning shot.

    To put this into perspective, go look at the Bitcoin Client Download stats.  The software has only been downloaded 350,000 times, and that number is going up by 10,000 per DAY.  Consider how many Internet users there are. 

    Then ask the question again.  did you miss the big bubble?

  • titeuf_87
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    June 07, 2011, 10:16:34 PM
     #9
    You could keep some money on mtgox, ready to be used next time the price will drop again (assuming that'll happen...)
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