Bitcoins!

[Darkrealms]

So you are comfortable investing in something that you know is being manipulated? If you're wanting to donate money to something there are charities out there that can do a lot more than a bitcoin investment.

If you think you are being a 'noble entrapeneur' by investing in bitcoin, well a lot of people prey on those type of people. Let me ask you, how many bitcoins did you invest in your ASIC miner? How much would that be worth at today's value? There are people out there that literally lost hundreds of thousands of dollars for ASIC miners that to this day, 1 year later, haven't been delivered to their doorstep.

As more and more drug/weapon dealers on the silk road get busted I think you will see bitcoin die off. But it seems like they are being replaced by wallstreet/marketing gurus that know just how to give a worthless item perceived value. Just look at the Winklevoss bitcoin investment portfolio. Jebus.

It was around 35, I chose to stop remembering when btc went over $100 the first time. Technically anyone that had an investment in btc when it went over $100 (and then stayed in all the way up to $266) and then back down to $40 something "lost" thousands. This is an investment in tech, it is not my entire investment portfolio. Yes I do think a digit currency can be worth something and yes I do see the point in investing in it.
This seems to be where you and I differ, I am fine with that.

Everyone that has asked me for advice in btc has been given the same answer. BTC is a digital currency that may or may not succeed. It is the first wide spread attempt and DO NOT invest more than you are willing to lose (this should be the basis for any investment anyway).

*edit*
Oh, and I have not received any ASCII miners either. I see the "promises" of them on their way but again my investment may be lost.
*/edit*

 

[MT Alex]

...wallstreet/marketing gurus that know just how to give a worthless item perceived value...

Like mainstream currencies, right? Honestly, haven't you ever heard of the plunge protection team and the like? Your fervent dogging of bitcoin makes you appear as though you are somewhat naïve as to how real currencies work. I'm not sure if that's true, but you could replace USD, BPS or CDN in any of your posts and sound just as competent. Here's a little hint: They are ALL Ponzi schemes and at the top there is a small group of people who have more than everyone else combined, and they make it all go round and round.

 

[NinkobEi]

Like mainstream currencies, right? Honestly, haven't you ever heard of the plunge protection team and the like? Your fervent dogging of bitcoin makes you appear as though you are somewhat naïve as to how real currencies work. I'm not sure if that's true, but you could replace USD, BPS or CDN in any of your posts and sound just as competent. Here's a little hint: They are ALL Ponzi schemes and at the top there is a small group of people who have more than everyone else combined, and they make it all go round and round.

Oh, good point Except I can go down the street to the gas station and spend my USD currency. Can't do that with bitcoin, therefore it is worthless. If the economy collapses I could at least wipe my ass with a dollar. Bitcoin? Nope!

 

[MT Alex]

At least you have a good sense of humor

 

[Wrigleyvillain]

Well Alex I guess I am not so surprised you seem to be a BC proponent from a philosophical and even political stand point (which is all well and good imo) but definitely kind of surprising from a pragmatic one given all the details.

I tend to agree with Nink's view here.

 

[McSteel]

I just wanna know if all this ties into the Standard Rulers of the Globe, the Rothschilds, the Warburgs, the Rockefellers, etc.

If not, perhaps we should give it a chance, somehow...

 

[AphexDreamer]

I so regret not having backed up my wallet when I did a reformat.

FML.

http://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home

Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k

 

[Aquinus]

Except I can go down the street to the gas station and spend my USD currency.

Bingo. On top of that, the "value" of the Bit Coin is pretty volatile, making it a risky investment to begin with. It's almost like a slot machine.

 

[The Von Matrices]

I so regret not having backed up my wallet when I did a reformat.

FML.

http://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home

Man buys $27 of bitcoin, forgets about them, finds they're now worth $886k

There's quite a few people like you out there who have lost the password to wallets with large numbers of coins. That's why when people mention that they're are many wallets with enough coins to crash the market through a large sale, I don't believe them because most of those wallets were lost through bad password management.

I agree in that I still think they're needs to be a better way to authenticate your identity than a password. While the few of us who believe in Bitcoin know that we need to keep our wallet info safe, the general public couldn't care less about backups whether it it's Bitcoin or family photos.

 

[JunkBear]

Bitcoins mining hardware

First can someone explain me where do Bitcoins came from and can you transfer them back to real money? If yes im starting my 4 old computers and start making it

http://9gag.com/gag/aEwPpg9

 

[Nordic]

I'm sorry to say this but your too little too late

 

[JunkBear]

I just saw it so it's ok. I'm not spending enough time over technology websites and internet to know all. I have a real life outside computers you know.

 

[Nordic]

I did not mean to sound condescending. At this point you need a significant operations similar to the picture you showed to actually get tangible gains from bitcoin mining. I have a real life also .

 

[JunkBear]

So you telling me that to mine coins faster you better ask Mario or Sonic?

 

[Solaris17]

pretty much I was very naive a few years ago someone started a thread talking about it when it was new. People were making a couple coins a day. Then the market crashed the prices dropped it wasnt worth doing. they came back made it harder to get them but most sold during the crash now it takes too much power to profit off of it.

 

[NinkobEi]

Let us have a Bitcoin rig post.

and some from buttcoin.org

 

[Nordic]

Most I ever had was 2 6950's, a 7970, and a 5830.

 

[qubit]

Bitcoin moves beyond mere money

Bitcoin is money – people can use it to buy anything from pizza to plastic surgery. The meteoric rise of the online currency has caused everyone from financial regulators to law enforcement to the US Senate to stand up and take notice. But a growing group of computer scientists think this is just the beginning. They are convinced that Bitcoin's real value is not in providing the world with a currency free from government intervention, but in the technology which underpins it, a secure system of verifying transactions that they believe has the potential to vastly disrupt the way we exchange goods and services around the world.

The secret to Bitcoin's rampant success is the "block chain" – a secure digital ledger that tracks coins across the internet. It records every single transaction of the currency, and those transactions are then mathematically verified by the computers of Bitcoin users around the world. Anyone who holds bitcoins also has an exact copy of the block chain, making it virtually impossible to create a forgery. This eliminates the need for trusted third parties, like PayPal and Visa, to take part in financial transactions.

Now the block chain is being applied beyond the movement of money using a technique called "colouring" bitcoins. It has the potential to transform commerce. Take the buying and selling of real estate, for example. In a statement before the US Senate Committee on Banking, Housing and Urban Affairs on 19 November, Anthony Gallippi, CEO of Bitcoin payment firm BitPay, described how co-opting the block chain could do away with the gaggle of fees and legal manoeuvrings that usually accompany home sales.

Read the rest at New Scientist

 

[entropy13]

Apparently it's now $1000 per BTC...I have 0.23 BTC in my wallet (I probably spent several hours using a CUDA miner with my GTX 570 then)...I want to cash it in now LOLOLOLOLOL

 

[Boneface]

Im kicking my ass, didnt have cash at the time and used .28 to buy bf4! Had .48 at the time!
Could have made 500$

 

[The Von Matrices]

If you have an AMD card it's worth mining Litecoin at the moment. It used to be nearly break even but the price has quadrupled in the past week. My 4 7970s can mine about 0.8 LTC/day, which at current prices is about $30 (on $2.50 of electricity). The real cost is less since I'm using the heat to heat my house instead of paying for natural gas. I don't believe that LTC has a future, so I'm selling them immediately for BTC.

 

[entropy13]

How should I sell bitcoins? lol

 

[Boneface]

Im canadian so i sold mine here https://www.cavirtex.com/home just added my bank acct and waiting for cash to be deposited into it!

Im just waiting to hit the .01 to withdraw then im going to try litecoins

 

[NinkobEi]

How should I sell bitcoins? lol

And there's the problem. There's really no good way to cash out. Best bet is to buy drugs from a black market site and sell them at the local elementary. (obvious sarcasm)

 

[Boneface]

And there's the problem. There's really no good way to cash out. Best bet is to buy drugs from a black market site and sell them at the local elementary. (obvious sarcasm)

I cashed out, on 25th was in my bank acct the next day.