BitCoin / LiteCoin
Discussion
All getting rather confusing. Apparently the parent company has recently purchased the Gox.com domain, and there's also an unverified document floating about that discusses rebranding (amongst other options for saving the business), which might explain the Twitter account and website going offline. No idea what that means for those who appear to have lost their funds, but I don't think we've heard the last of it, and it will be interesting to see how things develop.
Some of the threads on the reddit bitcoin forum are sobering. Whilst some of the people could be described as, whats the word, IDIOTS, for keeping all of their coins online rather than in offline wallets, this still shouldnt have happened and has cleared many people out.
One guy (with a screenshot to prove) had 4500 odd coins in his online wallet and lost them all. Thats around $2.5m dollars worth gone!
One guy (with a screenshot to prove) had 4500 odd coins in his online wallet and lost them all. Thats around $2.5m dollars worth gone!
k off with everyones money. Mousem40 said:
wheelerc said:
Just purchased 0.5 BTC as a punt, hopefully values will go back up a bit 
If you don't mind me asking, where from and how? I'm considering a punt too. We're the fees/spreads large?
However, there are no additional fees or currency conversion costs with the bittylicious purchase, so pretty fair in my view.
Mousem40 said:
wheelerc said:
Just purchased 0.5 BTC as a punt, hopefully values will go back up a bit
If you don't mind me asking, where from and how? I'm considering a punt too. We're the fees/spreads large?
Download a 'wallet' from Multibit https://multibit.org/
Find what looks like a reasonable offer which takes SEPA transfers on https://www.bitquick.co/ and place a hold on it.
bitquick then email you the sellers details including BIC and IBAN, where you transfer the money to (I was able to do this via HSBC internet banking).
Send bitquick the confirmation of transfer, and once the seller has confirmed they release the bitcoint to the wallet address you supplied.
I purchased 0.5 BTC at 435.127 EUR/BTC - costing me EUR 217.56 + £4 transaction fee from HSBC. Bitquick take 0.005 BTC fee, so I'll end up with 0.495 BTC in my walled in the next few days, if all goes well.
Edited by wheelerc on Wednesday 26th February 08:49
Anyone tried a 750ti as yet ?
http://www.forbes.com/sites/jasonevangelho/2014/02...
Seems to be lower Hash rate, but far more economical on power consumption, and they start from just over £100.
http://www.ebuyer.com/store/Components/cat/Graphic...
http://www.forbes.com/sites/jasonevangelho/2014/02...
Seems to be lower Hash rate, but far more economical on power consumption, and they start from just over £100.
http://www.ebuyer.com/store/Components/cat/Graphic...
vescaegg said:
Some of the threads on the reddit bitcoin forum are sobering. Whilst some of the people could be described as, whats the word, IDIOTS, for keeping all of their coins online rather than in offline wallets, this still shouldnt have happened and has cleared many people out.
One guy (with a screenshot to prove) had 4500 odd coins in his online wallet and lost them all. Thats around $2.5m dollars worth gone!
Some of the discussion threads are proving most interesting. Most of them seem to be following a pattern of "Karpeles should be in prison!", "I want my coins back!" and general calls for government action. Funny how quickly the decentralised ideology vanishes when people are losing money. Does highlight just how many people had piled in purely to try and make a quick buck. Quite why anyone would have thousands of coins in an online exchange (let alone Gox) is beyond me.One guy (with a screenshot to prove) had 4500 odd coins in his online wallet and lost them all. Thats around $2.5m dollars worth gone!
On a technical note, have the coins on Gox actually "gone" in the sense they're unrecoverable? If you have a local backup of wallet.dat and you private key, wouldn't you be able to recover them, or am I fundamentally misunderstanding the situation?
hornet said:
vescaegg said:
Some of the threads on the reddit bitcoin forum are sobering. Whilst some of the people could be described as, whats the word, IDIOTS, for keeping all of their coins online rather than in offline wallets, this still shouldnt have happened and has cleared many people out.
One guy (with a screenshot to prove) had 4500 odd coins in his online wallet and lost them all. Thats around $2.5m dollars worth gone!
Some of the discussion threads are proving most interesting. Most of them seem to be following a pattern of "Karpeles should be in prison!", "I want my coins back!" and general calls for government action. Funny how quickly the decentralised ideology vanishes when people are losing money. Does highlight just how many people had piled in purely to try and make a quick buck. Quite why anyone would have thousands of coins in an online exchange (let alone Gox) is beyond me.One guy (with a screenshot to prove) had 4500 odd coins in his online wallet and lost them all. Thats around $2.5m dollars worth gone!
On a technical note, have the coins on Gox actually "gone" in the sense they're unrecoverable? If you have a local backup of wallet.dat and you private key, wouldn't you be able to recover them, or am I fundamentally misunderstanding the situation?
I put "in" in quotes as the coins are never really in the wallet, but I'm sure you know what I mean.
vescaegg said:
One guy (with a screenshot to prove) had 4500 odd coins in his online wallet and lost them all. Thats around $2.5m dollars worth gone!
It's horrible but it was so stupid to leave them all in one wallet. If you had the equivalent in cash, surely it's best to open a few bank accounts and spread it around in case one goes bust.tertius said:
Mousem40 said:
wheelerc said:
Just purchased 0.5 BTC as a punt, hopefully values will go back up a bit
If you don't mind me asking, where from and how? I'm considering a punt too. We're the fees/spreads large?
However, there are no additional fees or currency conversion costs with the bittylicious purchase, so pretty fair in my view.
Wheelerc thanks for the info, isn't there a risk with that transaction that the seller just doesn't send over the coins, or are both methods just as risky?
g4ry13 said:
Bittylicious isn't regulated by anyone? I can see they're registered as a company, but aside from that there's no sort of security other than you hope they deliver the coins to you ASAP?
Crypto currencies in general are not regulated.For what it is worth I have used Bittlicious a handful of times and always received the coins within about 5 minutes.
tertius said:
If the coins are "in" your local wallet.dat then they aren't on Gox are they?
I put "in" in quotes as the coins are never really in the wallet, but I'm sure you know what I mean.
What I think I was getting at is do (did?) your coins on Gox sit in "your" address with its own private key, or just a Gox address which then administered transactions on your behalf? Never been anywhere near it, so didn't know. Probably a stupid question, but you never know until you ask I put "in" in quotes as the coins are never really in the wallet, but I'm sure you know what I mean.
hornet said:
tertius said:
If the coins are "in" your local wallet.dat then they aren't on Gox are they?
I put "in" in quotes as the coins are never really in the wallet, but I'm sure you know what I mean.
What I think I was getting at is do (did?) your coins on Gox sit in "your" address with its own private key, or just a Gox address which then administered transactions on your behalf? Never been anywhere near it, so didn't know. Probably a stupid question, but you never know until you ask I put "in" in quotes as the coins are never really in the wallet, but I'm sure you know what I mean.
Mousem40 said:
Thanks, this looks like the easiest way.
Wheelerc thanks for the info, isn't there a risk with that transaction that the seller just doesn't send over the coins, or are both methods just as risky?
I've used Bittylicious a few times for BTC and FTC with no issue. Wheelerc thanks for the info, isn't there a risk with that transaction that the seller just doesn't send over the coins, or are both methods just as risky?
Seem to be a few more ways to buy starting to come on stream. You can use Zipzap to buy for cash at participating merchants - 28,000 of them in the UK apparently. Also saw this on Coindesk, which would seem to be about as close as you can get to an anonymous purchase method. Buyer beware and all that, but interesting to see these ideas starting to get traction.
Mousem40 said:
tertius said:
Mousem40 said:
wheelerc said:
Just purchased 0.5 BTC as a punt, hopefully values will go back up a bit
If you don't mind me asking, where from and how? I'm considering a punt too. We're the fees/spreads large?
However, there are no additional fees or currency conversion costs with the bittylicious purchase, so pretty fair in my view.
Wheelerc thanks for the info, isn't there a risk with that transaction that the seller just doesn't send over the coins, or are both methods just as risky?
I did send them an general enquiry email to test their customer service before making the payment and they responded well, within 15 mins.
I received confirmation from bitquick.co that the seller had confirmed the transaction last night, around 36 hours after I made the payment via online banking, and now have my first 0.495 BTC in my wallet
You can also use something like localbitcoins where you meet up with people and exchange cash for coins face-to-face, where there is less risk of the transaction going wrong, but more risk of being mugged.
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