Bitcoin
106 views | +0 today
Follow
Bitcoin
All you need to know about Bitcoin. Filled with content around Bitcoin, Wallets, Exchanges and news items.
Curated by Ruben Schreurs
Your new post is loading...
Your new post is loading...
Scooped by Ruben Schreurs
Scoop.it!

This 1998 Paul Krugman Column Perfectly Explains The Design Flaw At The Heart Of Bitcoin - Forbes

This 1998 Paul Krugman Column Perfectly Explains The Design Flaw At The Heart Of Bitcoin - Forbes | Bitcoin | Scoop.it
Bitcoin Magazine (Photo credit: zcopley) Bitcoin is garnering a lot of hype, to the point where some people are wondering whether Bitcoin can be not just an interesting experiment, but a real, functioning currency.
more...
Bitcoin Mike's curator insight, May 6, 2013 8:54 AM

It is still unclear whether Forbes is in favor of or totally opposed to the idea Bitcoin. Positive and negative articles ensure you will always have the right to say, "I told you so."

 

Essentailly the take away here is that a monetary system cannot be viable without a third part altering the supply of currency. I respectfully disagree. 

Scooped by Ruben Schreurs
Scoop.it!

Startup raises $500K to create Bitcoin trading platform - CNET

Startup raises $500K to create Bitcoin trading platform - CNET | Bitcoin | Scoop.it
TechCrunch
Startup raises $500K to create Bitcoin trading platform
CNET
The decentralized peer-to-peer currency traded as high as $240 per Bitcoin today before closing at $233, up nearly $45 for the day, according to Mt.
more...
No comment yet.
Scooped by Ruben Schreurs
Scoop.it!

Wall Street Analyst Explains How To Value A Bitcoin, And Why It's Better To Buy Them Than To Mine Them

Wall Street Analyst Explains How To Value A Bitcoin, And Why It's Better To Buy Them Than To Mine Them | Bitcoin | Scoop.it

Some smart investors started to realize that under this situation, you really should buy and hold rather than mining it (obviously). As more buyers come in=>higher prices=>more miners=>more buyers creating a positive feedback loop, whose nature is quite questionable though..

Ruben Schreurs's insight:

If the "loop" continues, we can expect a Bitcoin party with early-adapters quite soon! Hope you'll be there as well:)

more...
No comment yet.
Scooped by Ruben Schreurs
Scoop.it!

Bitcoin: The Cyberpunk Cryptocurrency

Bitcoin is touted for its many improvements to traditional currency. It is easy to transfer, requires no central authority to administer, works across political
Ruben Schreurs's insight:

What a way to freshen up on both the history of currencies and the history of Bitcoin in one presentation!

more...
No comment yet.
Scooped by Ruben Schreurs
Scoop.it!

I'm Raising My Bitcoin Price Target To $400 - Business Insider

I'm Raising My Bitcoin Price Target To $400 - Business Insider | Bitcoin | Scoop.it
Business Insider
I'm Raising My Bitcoin Price Target To $400
Business Insider
The value of the electronic currency Bitcoin has gone bananas in the last five weeks, blasting from about $35 a coin in early March to a new high of $145 last night.
Ruben Schreurs's insight:

A clear view on how to interpret and act on Bitcoins. Don't play if you can't afford to lose!

more...
No comment yet.
Scooped by Ruben Schreurs
Scoop.it!

How to trade in Bitcoins

How to trade in Bitcoins | Bitcoin | Scoop.it

Bitcoins can be traded on various exchanges. Not only do all of them offer unique benefits and trading tools, there are new ways of trading and selling popping up on the web in an extreme rate. 

 

However, a growing number of Bitcoin startups does not guarantee safe alternatives to the incumbent exchanges and wallets. This forces you to ask yourself whether you will choose to pay higher fees and challenge your CPU (if you have an offline wallet), or take a risk by trading or storing Bitcoins on one of the relatively younger websites.

 

When Bitcoins first caught my curiosity (and later my attention..!), I admittedly got a bit scared by the strict level of verification Mt. Gox maintained. Luckily there is a lively user-driven forum (https://bitcointalk.org/) on which the different trading tools are assessed and experiences can be shared. After some thorough research, I decided to open two accounts to start trading, one on Mt. Gox and one on Bitstamp. As I got in touch with other Bitcoin users I was repeatedly recommended not to use the exchanges as wallets, hence my account on Blockchain was created.

 

The combination of these three services has served me well so far. Both exchanges are very trustworthy if it comes to deposits and withdrawals, and exchanging Bitcoins between the two and my wallet is as smooth as I'd want it to be. 

 

Before we're going into the actual trading part, let me quickly share my deposit experiences (as I know that it can be a bit scary at first, we've all been there). 

 

Both sites accept SEPA deposits, amongst various other payment methods. As I have only used SEPA wire transactions, I won't go into the other ones as I simply couldn't vouch for the trustworthiness. My SEPA deposits have taken max 2 business days to be on my exchange accounts. Also, worth noticing, the exchange rates I have bought against have 9 out of 10 times been better than the EUR-USD rate my bank offers, don't ask me how.

 

Now we are ready to trade. I won't give any buying tips, as I don't feel comfortable for other people to follow my lead on trading. However, as Bitcoins are not to be compared with regular stocks, I guess no one is more educated than a self made Bitcoin enthusiast. I will just share my view of the current market and the way I make profit of its volatility.

 

When I made my first buy I was especially interested in the concept of the Bitcoins, hadn't even thought of becoming an active trader. As I saw stocks rising, I started to look closer at micro-activities. First I used http://bitcoin.clarkmoody.com/ but this soon didn't do the job anymore, so I created a custom analysis tool with a friend, which hooks into both Bitstamp and Mt. Gox.

 

These tools became more and more interesting when we started nearing April. Sudden exponential growth patterns started showing and I used the small drops to make small profits, instead of freezing the Bitcoins. This is where the limit orders came in handy. Without too much effort, I was able to make quite a substantial income on a daily basis. As the Bitcoins have proven to be highly sensitive to media coverage, the rates have various profitable low's and high's during the day. 

 

Anyway, that is how Bitcoin became one of my biggest interests. I have looked into creating an automated arbitrage buyer (using the different rates between Mt. Gox and Bitstamp to sell on one and buy on the other when the difference is profitable), but I reckoned that would take away the fun. 

 

Important to remember with Bitcoins is that it can all end in a split second. When that will be, no one knows. A very true statement in the world of Bitcoin: 'don't play if you can't afford to lose!' 

 

Thank you very much for reading. If you have any questions, feel free to reach out!

 

- Ruben Schreurs

 

www.mtgox.com

www.bitstamp.net

www.blockchain.info

 

more...
No comment yet.
Rescooped by Ruben Schreurs from money money money
Scoop.it!

Here's a simple, 60-second primer on Bitcoin - Washington Post (blog)

Here's a simple, 60-second primer on Bitcoin - Washington Post (blog) | Bitcoin | Scoop.it

New York Magazine Here's a simple, 60-second primer on Bitcoin Washington Post (blog) And here's a five-sentence summary: Bitcoins are a virtual currency in which new coins are created by a slow, complex computer process known as “mining.”


Via jean lievens
Ruben Schreurs's insight:

What is Bitcoin? in a five-sentence summary

more...
No comment yet.
Scooped by Ruben Schreurs
Scoop.it!

Six Things That Could Cause Bitcoin Prices To Crash

Six Things That Could Cause Bitcoin Prices To Crash | Bitcoin | Scoop.it

The price of the electronic currency Bitcoin continues to soar.

 

Six weeks ago, Bitcoin was trading at $35. Since then, the price has continued to surge to new highs. Just this morning, Bitcoin blasted through $250.

 

As is always the case with such price moves, observers have been dismissing Bitcoin as a "bubble" since long before prices even hit $35.

Ruben Schreurs's insight:

You need to keep this in mind, high volatility means high risk..! 

more...
No comment yet.
Scooped by Ruben Schreurs
Scoop.it!

5 reasons why you should still invest in Bitcoin

5 reasons why you should still invest in Bitcoin | Bitcoin | Scoop.it
Is it too late to clamber onto the bandwagon, roll around in the filthy lucre, and come out smelling like roses and mixing your metaphors profitably?
Ruben Schreurs's insight:

Well, it's up to you! Do keep this in mind: "The press-fueled buzz will end, and when it does there will be a “major downward correction,” according to Ver. But that won’t happen today." If not today however, when will it be?

more...
No comment yet.
Scooped by Ruben Schreurs
Scoop.it!

Will BitCoin be a "Facebook" or a "Myspace"? Either way, it's a revolution.

Will BitCoin be a "Facebook" or a "Myspace"? Either way, it's a revolution. | Bitcoin | Scoop.it
Disclaimer and Disclosure: I own a very small amount of BitCoins. My company is now accepting BitCoin as a valid method of payment, alongside PayPal.
Ruben Schreurs's insight:

Great to see an entrepreneur like Kelly Reid assess Bitcoin, good stuff!

more...
No comment yet.
Scooped by Ruben Schreurs
Scoop.it!

The Encryption Standard

The Encryption Standard | Bitcoin | Scoop.it
The Encryption Standard Presented by Dollar Vigilante and Bitcoin ATM.  Thanks to Gold.net for financial data.
Ruben Schreurs's insight:

Great infographic on the essentials of Bitcoin

more...
No comment yet.
Scooped by Ruben Schreurs
Scoop.it!

Why Bitcoin Is Poised To Change Society Much More Than The Internet Did

Why Bitcoin Is Poised To Change Society Much More Than The Internet Did | Bitcoin | Scoop.it

There is a bitcoin craze at the moment, with prices of bitcoin skyrocketing. Bitcoin is still far from ready for prime time, but as it matures, it will change society’s fundamental operations much more than the Internet did. The net, after all, only allowed people to talk and shop more efficiently. By comparison, bitcoin eradicates the government’s ability to operate.

Ruben Schreurs's insight:

Must read by Rick Falkvinge! Great insights that make the subject somewhat tangible.

more...
No comment yet.
Rescooped by Ruben Schreurs from @tguemes on Tech Trends
Scoop.it!

Barons of Bitcoin: the Tokyo-based powerhouse that controls the world's virtual money

Barons of Bitcoin: the Tokyo-based powerhouse that controls the world's virtual money | Bitcoin | Scoop.it
Mt. Gox chief marketing officer Gonzague Gay-Bouchery, left; CEO Mark Karpeles, right.
The virtual currency Bitcoin isn’t backed by any assets or central authority. It’s only three years old...

Via Celestino Güemes
Ruben Schreurs's insight:

The people behind the biggest Bitcoin Exchange

more...
No comment yet.
Scooped by Ruben Schreurs
Scoop.it!

Bitcoin ATMs coming soon

Bitcoin ATMs coming soon | Bitcoin | Scoop.it
Entrepreneur Jeff Berwick plans to put Bitcoin ATMs in Los Angeles and Cyprus in the coming weeks. But the virtual currency comes with risks. (RT @CNNMoney: Bitcoin - that cybercurrency - coming to ATMs near you.
Ruben Schreurs's insight:

Moving from online to offline..What will this set in motion?

more...
No comment yet.