I love reading all the comments on bitcoins - I am neutral on the issue. Just find it interesting how far this thread drops, on the total list of threads, when the bc does well and how it is always at the top of the list when their is a downward blip. None of us know what this stuff is going to do and I would certainly view it as a long term proposition and not a day-to-day one. I wish everyone well regardless if you "love" or "hate" the bitcoin.
Before it went into this spiral, I had a friend who was running a mining operation, probably using lower tech servers. His power bill was $2500 one month and he got raided by the cops thinking he was running a growing operation. He shut it down, but I keep wondering if he might do a re-start at the current prices.
I took $1200 a couple weeks ago and spread it evenly between Ripple, Stellar, and TronX. Been doing fantastic so far. My only advice is: A) look at it as speculation, not an investment. This stuff is every volatile and one is better off if they come to the conclusion that it will all go belly up just as easily as double, and don't put in more than you can afford. If putting $500 in it makes you sweat, don't do it. It's better to look at this as spending fun money than investing for your future. My investments are in metals and a Roth IRA. This is just a wild ride I'm having fun watching. I've since cashed in my initial $1200 investment and put it in savings.
Good for you BBN. You have the right attitude and picked some great ones. They have had a rocket shot in the past couple of weeks.
I do look at it as an investment though. Some of these blockchain companies are going to be the next Apple, Amazon, Google, Microsoft, etc. Which ones those will be is the $billion question. Blockchain is a game-changer and will thrive for decades to come.
I'm in it for the long haul. We'll be using these coins and tokens sooner than you think.
.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
Thank you. True, that could be an investment. I feel better calling it that since I got back my cash I put in. I really think Ripple has a long future as its goal and purpose is to integrate into the financial world as opposed to being an alt currency. I have high hopes for XLM and XRP. TRX was just a "what the hell, why not?" since it was around $0.0342 when I put $400 into it. Now it sits at $0.203 and was able to cash in that to pay myself back and still have more than half of it left to either grow or bottom out. LOL
Soooo, who's going to, is, or has built a miner. I decided I'm going to after leaving a couple thousand kwh on the table. Made a little pocket change just running a 13 terahash rig a few weeks. I've got a PC in the shop doing nothing. A couple to six low power video cards (1050's probably) and few riser boards and I'm good. Something I can pull 70 megahash at around 500 watts should use my extra power. It's $3 to $5/day for a while. I'll ebay used cards and redo the thermal compound and ziptie on a cheap fan for cooling. Yep! Frankenstein the heck out of it, tuck it in the corner of the shop and wait for the summer heat to shut it down. It just hit me the other day that if I had stuck with it from 2014 I'd be rolling in it now. The concept is not going anywhere but forward. Unless we have a big EMP or CME and if that goes down crypto will be a tiny issue.
"That’s from analysts at Morgan Stanley, who predicted mining for bitcoin and its rivals would suck more power from global electric grids this year than electric vehicles would draw in the next seven."
That's because every wants to make money and nobody wants electric cars.
.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
@guitarwes said:
"That’s from analysts at Morgan Stanley, who predicted mining for bitcoin and its rivals would suck more power from global electric grids this year than electric vehicles would draw in the next seven."
That's because every wants to make money and nobody wants electric cars.
If they want to make money then they should get a job.
@guitarwes said:
"That’s from analysts at Morgan Stanley, who predicted mining for bitcoin and its rivals would suck more power from global electric grids this year than electric vehicles would draw in the next seven."
That's because every wants to make money and nobody wants electric cars.
If they want to make money then they should get a job.
FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration/File Photo
FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration/File Photo
Same thing happened with China last year trying to regulate and crack down on new ICO's. A big drop but an even bigger rise afterwards. Precisely what is going to happen this time. The long term holders are used to this. We just are thankful for the dips so we can buy more.
Everything is on sale right now, better load up while the getting's good.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
I'm up and running a tiny 22MH/s@175watts mining Ethereum. It's $2.50 a day on spare parts. I should be able to use up to 450 watts/hour and not flip the meter back to paying for power. (I've got a big solar array). If I can underclock the miner, find more and mod the video cards bios's to dual mine for two different cyptos I should be able to pull $7.50/day for basically the effort in the learning curve. If I lived in cold weather I'd have a nice room heater too. But I'm in AZ (82° yesterday) so the miner will be in the shop till it's to hot to run.
I don't see the allure in something that's no better than using a CC or debit card, that's losing its ability to be used anonymously and by some accounts is a PITA to use period.
At that rate how long will it take to pay for the equipment?
It's all stuff I've had sitting around so it's free basically. If I jump up to more computer power I may buy a used card or two and redo the thermal compound. I'm not going to spend more than $250 complete. So realistically it's a few months to ROI cash wise but I'd still have the miner. Which on my first mining foray the reselling of the equipment was really easy.
I'll be the first to admit that transacting in cypto is a royal PITA, but it did get done, I did profit, I learned a lot. I know now that if I would of stuck to the plan at the mining rate I had like one would do with a savings account I'd have over 200k at today's price. There are other cyrpto's out there that have done very well. As an example I dabbled in Dogecoin on my desktop PC just to test cooling conditions and card settings. It was easy to make a few thousand coin. At the time they were .00001 cents each. Now they are .006 with a peak at .016.
@guitarwes said:
Same thing happened with China last year trying to regulate and crack down on new ICO's. A big drop but an even bigger rise afterwards. Precisely what is going to happen this time. The long term holders are used to this. We just are thankful for the dips so we can buy more.
Everything is on sale right now, better load up while the getting's good.
I heard this--almost word for word--in 2000 and 2011.
Sorry for you missing out Coho.......in advance. Sorry you don't understand it.
Have fun trading in an inflated SM with inflated dollars. The SM numbers will continue to go up, I have no doubt. Gments, Institutions, and investors will continue to prop it up with rose colored glasses on.
@ Elite CNC Routing & Woodworks on Facebook. Check out my work. Too many positive BST transactions with too many members to list.
"Adding to the tension is the fact that China's central bank reportedly said that the government should ban the centralized trading of the currencies. The nation is reportedly trying to (gently) push crypto-miners out of the country because the energy used by tens of thousands of computers creates pollution. China is also concerned it could spawn an economic crisis -- something that a lot of investors are no doubt experiencing right now."
The Chinese Govmint invested/loaned zillions to set up steel mills to the point that steel was oversupplied. Maybe they should use smoe a that steel to build wind turbines to supply the electricity to mine BC.
if crypto is the future then the only winner will be the one which is approved by China.
no good in the Chinese economy = fate already sealed.
Hope you guys don't lose everything.
@guitarwes said:
Sorry for you missing out Coho.......in advance. Sorry you don't understand it.
Have fun trading in an inflated SM with inflated dollars. The SM numbers will continue to go up, I have no doubt. Gments, Institutions, and investors will continue to prop it up with rose colored glasses on.
@derryb said:
I still haven't spent all my tulips.
There was a lot more to the tulip thing than most people realize. I am halfway through a book about it now , very interesting stuff.
I agree, I have read a little on it and it is fascinating. One could even make parallels to todays coin market. For instance, there were 'grading' organizations that rated and certified bulbs. There were grades... where a tiny difference could mean a difference in big bucks. There were fakes... there were 'doctored' bulbs, and on and on. I makes one go hmmm.... have we really learned a lesson from it?
Bronco2078, what is the title of the book? Would be interested in reading it if I have not yet done so.
@derryb said:
I still haven't spent all my tulips.
There was a lot more to the tulip thing than most people realize. I am halfway through a book about it now , very interesting stuff.
I agree, I have read a little on it and it is fascinating. One could even make parallels to todays coin market. For instance, there were 'grading' organizations that rated and certified bulbs. There were grades... where a tiny difference could mean a difference in big bucks. There were fakes... there were 'doctored' bulbs, and on and on. I makes one go hmmm.... have we really learned a lesson from it?
Bronco2078, what is the title of the book? Would be interested in reading it if I have not yet done so.
I was lead indirectly to it when read about it in an old book which is called Extraordinary popular delusions and the madness of crowds. That one also covers the south sea bubble and the Mississippi bubble , its mainly interesting because it was written in 1841 which goes to show there is nothing new about this stuff
Comments
I love reading all the comments on bitcoins - I am neutral on the issue. Just find it interesting how far this thread drops, on the total list of threads, when the bc does well and how it is always at the top of the list when their is a downward blip. None of us know what this stuff is going to do and I would certainly view it as a long term proposition and not a day-to-day one. I wish everyone well regardless if you "love" or "hate" the bitcoin.
Gotbitcoin
Kind regards,
George
Look at a 6 month bitcoin chart, then look at this one again, remarkable.
We'll see what happens next...
No dog in fight either way, just find it fascinating
Liberty: Parent of Science & Industry
The Stealth phase is just getting over.
Too many positive BST transactions with too many members to list.
That is often heard, as the blowoff stage begins..
Liberty: Parent of Science & Industry
Time will certainly tell, it always does.
Bitcoin to $50,000+ by this time next year, maybe sooner. Lots of waves in between.
Too many positive BST transactions with too many members to list.
Why just $50k?
Why not $500,000, or $50 million?
Liberty: Parent of Science & Industry
Because I don't want to sound too crazy, you all might think I've gone off the deep end.......
Too many positive BST transactions with too many members to list.
Before it went into this spiral, I had a friend who was running a mining operation, probably using lower tech servers. His power bill was $2500 one month and he got raided by the cops thinking he was running a growing operation. He shut it down, but I keep wondering if he might do a re-start at the current prices.
I took $1200 a couple weeks ago and spread it evenly between Ripple, Stellar, and TronX. Been doing fantastic so far. My only advice is: A) look at it as speculation, not an investment. This stuff is every volatile and one is better off if they come to the conclusion that it will all go belly up just as easily as double, and
don't put in more than you can afford. If putting $500 in it makes you sweat, don't do it. It's better to look at this as spending fun money than investing for your future. My investments are in metals and a Roth IRA. This is just a wild ride I'm having fun watching. I've since cashed in my initial $1200 investment and put it in savings.
Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin
#1 1951 Bowman Los Angeles Rams Team Set
#2 1980 Topps Los Angeles Rams Team Set
#8 (and climbing) 1972 Topps Los Angeles Rams Team Set
Good for you BBN. You have the right attitude and picked some great ones. They have had a rocket shot in the past couple of weeks.
I do look at it as an investment though. Some of these blockchain companies are going to be the next Apple, Amazon, Google, Microsoft, etc. Which ones those will be is the $billion question. Blockchain is a game-changer and will thrive for decades to come.
I'm in it for the long haul. We'll be using these coins and tokens sooner than you think.
.
Too many positive BST transactions with too many members to list.
Thank you. True, that could be an investment. I feel better calling it that since I got back my cash I put in. I really think Ripple has a long future as its goal and purpose is to integrate into the financial world as opposed to being an alt currency. I have high hopes for XLM and XRP. TRX was just a "what the hell, why not?" since it was around $0.0342 when I put $400 into it. Now it sits at $0.203 and was able to cash in that to pay myself back and still have more than half of it left to either grow or bottom out. LOL
Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin
#1 1951 Bowman Los Angeles Rams Team Set
#2 1980 Topps Los Angeles Rams Team Set
#8 (and climbing) 1972 Topps Los Angeles Rams Team Set
Soooo, who's going to, is, or has built a miner. I decided I'm going to after leaving a couple thousand kwh on the table. Made a little pocket change just running a 13 terahash rig a few weeks. I've got a PC in the shop doing nothing. A couple to six low power video cards (1050's probably) and few riser boards and I'm good. Something I can pull 70 megahash at around 500 watts should use my extra power. It's $3 to $5/day for a while. I'll ebay used cards and redo the thermal compound and ziptie on a cheap fan for cooling. Yep! Frankenstein the heck out of it, tuck it in the corner of the shop and wait for the summer heat to shut it down. It just hit me the other day that if I had stuck with it from 2014 I'd be rolling in it now. The concept is not going anywhere but forward. Unless we have a big EMP or CME and if that goes down crypto will be a tiny issue.
Bitcoins Kinda like the Invisible "Emperor's New Clothes"
Maybe buy stock in your local utility?
Knowledge is the enemy of fear
The value of Bitcoin
Good primer on how it all works.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
NYSE Files For Leveraged, Inverse Bitcoin ETFs
Oh boy! More derivatives.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Cryptocurrencies to draw more power from the grid than electric cars - MarketWatch
https://www.marketwatch.com/story/cryptocurrencies-to-draw-more-power-from-the-grid-than-electric-cars-2018-01-10
This really seems like an inefficient use of resources. History has shown that inefficient things quickly change or are abandoned.
Knowledge is the enemy of fear
"That’s from analysts at Morgan Stanley, who predicted mining for bitcoin and its rivals would suck more power from global electric grids this year than electric vehicles would draw in the next seven."
That's because every wants to make money and nobody wants electric cars.
.
Too many positive BST transactions with too many members to list.
That's about as dumb as using the ethanol from an ethanol plant to fuel the trucks that haul corn to the ethanol plant.
If they want to make money then they should get a job.
Knowledge is the enemy of fear
Threads over, that's a win!
Plunging 18%
https://www.reuters.com/article/uk-markets-bitcoin/bitcoin-slides-18-percent-on-crackdown-fears-crypto-rivals-also-plunge-idUSKBN1F50UV
FILE PHOTO: A collection of Bitcoin (virtual currency) tokens are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration/File Photo
Shouldn't be a surprise to anyone.
Same thing happened with China last year trying to regulate and crack down on new ICO's. A big drop but an even bigger rise afterwards. Precisely what is going to happen this time. The long term holders are used to this. We just are thankful for the dips so we can buy more.
Everything is on sale right now, better load up while the getting's good.
Too many positive BST transactions with too many members to list.
Even Bitcoin is subject to price manipulation
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I'm up and running a tiny 22MH/s@175watts mining Ethereum. It's $2.50 a day on spare parts. I should be able to use up to 450 watts/hour and not flip the meter back to paying for power. (I've got a big solar array). If I can underclock the miner, find more and mod the video cards bios's to dual mine for two different cyptos I should be able to pull $7.50/day for basically the effort in the learning curve. If I lived in cold weather I'd have a nice room heater too. But I'm in AZ (82° yesterday) so the miner will be in the shop till it's to hot to run.
You're making $2.50 a day?
Knowledge is the enemy of fear
I don't see the allure in something that's no better than using a CC or debit card, that's losing its ability to be used anonymously and by some accounts is a PITA to use period.
At that rate how long will it take to pay for the equipment?
Below 10,000 here we go.. (and still overvalued since valuation is technically zero.)
It's all stuff I've had sitting around so it's free basically. If I jump up to more computer power I may buy a used card or two and redo the thermal compound. I'm not going to spend more than $250 complete. So realistically it's a few months to ROI cash wise but I'd still have the miner. Which on my first mining foray the reselling of the equipment was really easy.
I'll be the first to admit that transacting in cypto is a royal PITA, but it did get done, I did profit, I learned a lot. I know now that if I would of stuck to the plan at the mining rate I had like one would do with a savings account I'd have over 200k at today's price. There are other cyrpto's out there that have done very well. As an example I dabbled in Dogecoin on my desktop PC just to test cooling conditions and card settings. It was easy to make a few thousand coin. At the time they were .00001 cents each. Now they are .006 with a peak at .016.
I heard this--almost word for word--in 2000 and 2011.
Knowledge is the enemy of fear
Sorry for you missing out Coho.......in advance. Sorry you don't understand it.
Have fun trading in an inflated SM with inflated dollars. The SM numbers will continue to go up, I have no doubt. Gments, Institutions, and investors will continue to prop it up with rose colored glasses on.
Too many positive BST transactions with too many members to list.
I don't enjoy wild roller coasters as much as I used to.
I happily took my ill-gotten gains off the table and will watch from the grandstands for awhile.
Here's a warning parable for coin collectors...
Why the decline
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
As Kenneth Lay at Enron said, the price will come back keep buying.............
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
From an article from Yahoo finance page.
"Adding to the tension is the fact that China's central bank reportedly said that the government should ban the centralized trading of the currencies. The nation is reportedly trying to (gently) push crypto-miners out of the country because the energy used by tens of thousands of computers creates pollution. China is also concerned it could spawn an economic crisis -- something that a lot of investors are no doubt experiencing right now."
The Chinese Govmint invested/loaned zillions to set up steel mills to the point that steel was oversupplied. Maybe they should use smoe a that steel to build wind turbines to supply the electricity to mine BC.
if crypto is the future then the only winner will be the one which is approved by China.
no good in the Chinese economy = fate already sealed.
Hope you guys don't lose everything.
Loves me some shiny!
Agree. Sounds a lot like casino mentality.
It's certainly been interesting to watch.
My YouTube Channel
Right now:
1 Bitcoin equals
9964.68 US Dollar
My YouTube Channel
But what does it offer that PP, credit cards, debit cards, ApplePay, etc. don't?
I'd buy it to use it, but why should I?
Ive heard that almost word for word also. Lol
Knowledge is the enemy of fear
Buy it now on the dip! It's heading to 100k! All you need is greed and fools.
Lol.
I still haven't spent all my tulips.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
There was a lot more to the tulip thing than most people realize. I am halfway through a book about it now , very interesting stuff.
I agree, I have read a little on it and it is fascinating. One could even make parallels to todays coin market. For instance, there were 'grading' organizations that rated and certified bulbs. There were grades... where a tiny difference could mean a difference in big bucks. There were fakes... there were 'doctored' bulbs, and on and on. I makes one go hmmm.... have we really learned a lesson from it?
Bronco2078, what is the title of the book? Would be interested in reading it if I have not yet done so.
its called tulipomania ,
https://books.google.com/books/about/Tulipomania.html?id=sFqMDQAAQBAJ&printsec=frontcover&source=kp_read_button#v=onepage&q&f=false
I was lead indirectly to it when read about it in an old book which is called Extraordinary popular delusions and the madness of crowds. That one also covers the south sea bubble and the Mississippi bubble , its mainly interesting because it was written in 1841 which goes to show there is nothing new about this stuff
How easy [or difficult] is it for a private person to accept bitcoin as payment? Is it possible to stop a payment at all?