Bitcoin

[definatelynotKKassandra]

I wonder what fraction of bitcoin transactions are in the form of bitcoin traded for actual currency, and what fraction are in the form of bitcoin traded for goods or services. Anyone have data on that?

Here you go.

http://blockchain.info/charts/tx-trade-ratio

I'm assuming that shows an average ratio of 8-10 trades for currency to one trade for something else.

How does that compare to the ratio of forex transactions to 'real' transactions for normal currencies?

[Xiang Jiao]

I wonder what fraction of bitcoin transactions are in the form of bitcoin traded for actual currency, and what fraction are in the form of bitcoin traded for goods or services. Anyone have data on that?

Here you go.

http://blockchain.info/charts/tx-trade-ratio

I'm assuming that shows an average ratio of 8-10 trades for currency to one trade for something else.

I believe that is what this shows. There was a blog linked to this metric that explained it was meant to gauge the level of speculation. Here's total transactions per day: https://blockchain.info/charts/n-transactions

[Tellenta]

I wonder what fraction of bitcoin transactions are in the form of bitcoin traded for actual currency, and what fraction are in the form of bitcoin traded for goods or services. Anyone have data on that?

Here you go.

http://blockchain.info/charts/tx-trade-ratio

I'm assuming that shows an average ratio of 8-10 trades for currency to one trade for something else.

How does that compare to the ratio of forex transactions to 'real' transactions for normal currencies?

it would probably lean to the opposite unless you omit common day to day transactions and look at only high dollar item purchases, and even then I dunno.

edit: The real answer is "data not available and can only be extrapolated through random statistical methods"

[dpidcoe]

I'm still convinced half of these exchange robberies were inside jobs.

Only half?

[QuackBot]

How does that compare to the ratio of forex transactions to 'real' transactions for normal currencies?

"Thanks ben. You are abusing the real to built it from scrat.

[Lallante]

this thread appears to be 75% people saying bitcoins are awful and stupid and dumb because they didn't buy any when they were cheap and are now mad and 25% people who have bitcoins and will soon say they're dumb because they didn't have the sense to sell at $1k

This thread had 75% of people making rational decisions. It was never a good currency to start with, the speculative bubble is just a whole other game.

Buying at $4/BTC would have been a rational decision.

In retrospect maybe - at the time people were like "what is it even for?"

[jbend9620]

apparently this means my radeon 7950b is worth a fuckton of money now?

[Stoffl]

Wat

tappin dat talk

[Frug]

apparently this means my radeon 7950b is worth a fuckton of money now?

Quite posisbly. I know a friend who had a big plan to rig up a mining box was unable to make his get rich quick scheme work out because all the cards sold out.

If you have the right card I'm sure you could get a free upgrade to something less good at mining.

[Stoffl]

I thought GPU mining stopped being profitable when ASICs got launched ?

[Styx]

The only people mass GPU mining for Bitcoin are Botnets.

Even if you forget about ASICS, FPGA's are way better than your plug in and play cards.

[QuackBot]

I'm assuming that shows an average ratio of 8-10 trades for currency to one trade for something else.

Thanks a bunch! I just realized that i have a morgue. Hes just hanging out/chatting and no one else is.

[Tellenta]

I'm assuming that shows an average ratio of 8-10 trades for currency to one trade for something else.

Thanks a bunch! I just realized that i have a morgue. Hes just hanging out/chatting and no one else is.

That's because everyone else is dead quackers.

[Lana Torrin]

I'm still convinced half of these exchange robberies were inside jobs.

Only half?

The other half being stupidity. You can tell, the exchanges that got robbed and then tried to rebuild were not inside jobs, they were just fucking stupid people that dont know shit about security.

[metacannibal]

apparently this means my radeon 7950b is worth a fuckton of money now?

Quite posisbly. I know a friend who had a big plan to rig up a mining box was unable to make his get rich quick scheme work out because all the cards sold out.

If you have the right card I'm sure you could get a free upgrade to something less good at mining.

Your friend is about 2 years late, GPU's lol.

[QuackBot]

it would probably lean to the opposite unless you omit common day to day transactions and look at only high dollar item purchases, and even then I dunno.

edit: The real answer is "data not available and can only be extrapolated through random statistical methods"

So tell me something already.

[Tellenta]

it would probably lean to the opposite unless you omit common day to day transactions and look at only high dollar item purchases, and even then I dunno.

edit: The real answer is "data not available and can only be extrapolated through random statistical methods"

So tell me something already.

Something.

[dpidcoe]

I'm still convinced half of these exchange robberies were inside jobs.

Only half?

The other half being stupidity. You can tell, the exchanges that got robbed and then tried to rebuild were not inside jobs, they were just fucking stupid people that dont know shit about security.

Or they were inside jobs and trying for a second round by playing dumb.

[Maximillian]

http://www.theaustralian.com.au/news...-1226788071548

House for sale only for buttcoins, first possible buttcoin atm, a whole 6 businesses take them in Perth, etc.

Note that according to real estate insiders the Perth house was valued at 1 - 1.1 million max at auction.

The article gives you a glimpse inside the door at the people using the stuff.

Edited to add. I just noticed...

Perth businessman Bret Treasure, 53, chairman of the Australian Web Industry Association and a board member of Bitcoin Australia, believes it's the first bitcoin house sale in Australia.

Is that a real name or is that a wind up???

[Ralara]

I'm still convinced half of these exchange robberies were inside jobs.

Only half?

The other half being stupidity. You can tell, the exchanges that got robbed and then tried to rebuild were not inside jobs, they were just fucking stupid people that dont know shit about security.

Or they were inside jobs and trying for a second round by playing dumb.

ya

I'm amazed at this forum. So quick to point out a scam in eve with a ipo or shares, but IRL .... lol.