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Bitcoins!

Discussion in 'General Software' started by pantherx12, Feb 17, 2011.

  1. entropy13

    entropy13

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    Too much competition from the local syndicates, or the other small-time dealers, which are also 'protected' by the police, who get cuts, as well as the politicians, who are sometimes the drug kingpins too. Suppliers are usually either Chinese (mainland), Taiwanese, or African. Or 'homegrown' using Chinese equipment/ingredients.

    So yeah, they're not exactly 'black market' in a sense. Oh well, 3rd World and all of that jazz, where dealing with drugs is easier than dealing with bitcoins.
     
    Last edited: Nov 28, 2013
  2. james888

    james888

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    It is not straight forward or similar to the financial system in anyway. Its in its infancy. Give it a break.
     
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  3. HammerON

    HammerON The Watchful Moderator Staff Member

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  4. mauriek

    mauriek

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    well..i have been with BTC since 2010 and it always been good to me, at beginning i only use it for buying about 100 legal games for my steam collection and paying for domains, now i can use it for anything else, with the current price and regular monthly cash out, this system really help in this kind of bad economy in our country.
     
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  5. entropy13

    entropy13

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    If anybody here is interested in my 2011 'vintage' of 0.37 BTC, PM me. LOL
     
  6. NinkobEi

    NinkobEi

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    What have you bought with bitcoin lately? I'm curious. I still claim its nothing but a huge ponzi scheme. These trading websites dont have near enough money to cash everyone out.
     
  7. james888

    james888

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    If everyone tried to cash out the price would drop like lead.
     
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  8. MT Alex

    MT Alex

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    Go try to withdraw more than $10000 from your local bank and see what they say.
     
  9. mauriek

    mauriek

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    actually..i just cash out about $ 1800 today to take profit and restructure my mining and crunching PC, bought Club3D 7950 for LTC mining to help pay for short future electricity bill, and few grams of gold from local pawn shop to pleased my wife.

    https://blockchain.info/address/1EfNTwmXtbGGxEzyRmBu5k3LtT1eB5xHy4

    1GCfD6jBytMNSyS9wG1zYxhY5ffGCq3EA6 in that blockchain is my wallet address just in case somebody want to donate their "vintage" BTC :D
     
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  10. entropy13

    entropy13

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    Pay up if you want my precious 0.37 BTC. LOL :laugh:
     
  11. RCoon

    RCoon Gaming Moderator Staff Member

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  12. NinkobEi

    NinkobEi

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    Why wouldn't they say, "Here's your cash mr. dude, can I get you anything else? thank you for banking with us."?
     
  13. james888

    james888

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    There are ewallets out there, but primarily bitcoins and the blockchain are on hdd's. This is why you have to take certain security precautions if you have a lot of them.
     
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  14. entropy13

    entropy13

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    No, to be able to get to withdraw that much to begin with you'll have to show a lot of papers and identification. You'll have to wait a few days too.

    Unless of course you're a politician or a drug/crime kingpin (or both), and using a fake identity, then that means it'll be done in less than an hour.


    That's the case here at least.
     
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  15. james888

    james888

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    I was trying to buy a $3000 car. Saw it for sale on the side of the road. Went to withdraw $3000 cash, but the plan was to bargain him down. I went to my bank and asked to withdraw $3000. They said they had a $2000 limit on daily withdrawals. USA.
     
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  16. Nordakbalrem New Member

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    Just my opinion, but if your storing your BTC in an ewallet or on a computer with internet, you are doing it wrong. And god help you, you will get robbed.

    Create an offline vault and christ sakes make a second copy and keep them both safe
     
  17. Solaris17

    Solaris17 Creator Solaris Utility DVD

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    im cranking some LTC atm and its not that bad but the market is pretty volatile atm.
     
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  18. james888

    james888

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    I see volatile as opportunity. Crypocurrencies and volatile are so far synonymous too.
     
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  19. Solaris17

    Solaris17 Creator Solaris Utility DVD

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    I didnt say I didnt expect it i mean i just watched BTC dive $120 and LTC dipped like $5 such is life though
     
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  20. Easy Rhino

    Easy Rhino Linux Advocate

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    I would have so much money if i kept that wallet...
     
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  21. Solaris17

    Solaris17 Creator Solaris Utility DVD

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    So btc is free falling
     
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  22. mauriek

    mauriek

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    nah..it stabilizing now, just normal correction, with a lot of money from investor pouring for the last few weeks/month there will be time for correction, for profit taking or else.
    And i just read news ticker that US reserve bank print extra $7B this year? if that's true then BTC investor should be cautious.
     
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  23. Octopuss

    Octopuss

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    Is this (either BTC or LTC) worth it at all if one doesn't have dedicated machine running 24/7? How much can you realistically make in a month? About as much as in one day in a job?
     
  24. NinkobEi

    NinkobEi

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    You can check it here. If you bought a 7950 for mining you would literally never break even - at the current bitcoin value anyway.
    http://www.coinish.com/calc/

    Bitcoins Donchian channel:
    "The Donchian channel is a useful indicator for seeing the volatility of a market price. If a price is stable the Donchian channel will be relatively narrow. If the price fluctuates a lot the Donchian channel will be wider. Its primary use, however, is for providing signals for long and short positions. If a security trades above its highest n periods high, then a long is established. If it trades below its lowest n periods low, then a short is established."
    [​IMG]
     
    Last edited: Dec 2, 2013
  25. mauriek

    mauriek

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    Rough calculation for LTC, at $20-30/LTC, a single 7950 running 24h/day will give you $5-8/day or $0.2-0.3 per hour.
     
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