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Hey man, got any Bitcoin?
05-25-2017, 04:23 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Sep 2012
Posts: 1,568
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Hey man, got any Bitcoin?
Bitcoin surges to record above $2,500
Anybody ever buy any Bitcoin?
Anyone know how to buy it? Not that now, at $2500+, up 150% in 2017, is the time to buy it.
__________________
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05-25-2017, 05:56 AM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2006
Location: Washington, DC
Posts: 11,313
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I took an online course about Bitcoin and the blockchain recently and was tempted to buy a portion of one (I think it was at around $875 at the time) but I concluded that I couldn't think of any use for the currency unless I got a taste for some illegal drug so I never bothered. MAybe I should have speculated.
__________________
Idleness is fatal only to the mediocre -- Albert Camus
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05-25-2017, 06:00 AM
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#3
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Recycles dryer sheets
Join Date: Sep 2012
Location: in the sticks
Posts: 473
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Under the theory that you learn more about something by owning it, I went so far as to open an account at Mt. Gox in 2013, before they imploded. I never transferred money as I got squeamish about the limits on the withdrawal of the funds. I felt like I dodged a bullet when Mt. Gox went down. At the time I think it was around $350, oh well!
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05-25-2017, 06:09 AM
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#4
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Recycles dryer sheets
Join Date: Apr 2012
Location: Long Island
Posts: 141
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My kid got involved with Ethereum. Put $1500 into it 2 weeks ago. Worth $2400.00 today. If this doesn’t have .Com written all over it, I don’t know what does. I told him that he better be eyeing that chair when the music stops. God forbid he listens to the old man when it comes to investment advice.
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05-25-2017, 06:42 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Nov 2015
Posts: 2,690
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Bitcoin isn't investing islandtravler... You need to give your son advise on gambling. 😉
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05-25-2017, 07:36 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Apr 2012
Location: Nashville
Posts: 2,504
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Quote:
Originally Posted by Islandtraveler
My kid got involved with Ethereum. Put $1500 into it 2 weeks ago. Worth $2400.00 today. If this doesn’t have .Com written all over it, I don’t know what does. I told him that he better be eyeing that chair when the music stops. God forbid he listens to the old man when it comes to investment beer money advice.
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Hopefully? Our eldest (San Fran engineer) did this with some play money as well, although longer than 2 weeks ago. He cashed out 50% yesterday and will let the rest ride a while. (Between he and his wife, they can afford to waste a little fun money on lottery tickets, which is what this stuff is right now.)
E.T.A.: As I told him, even the name Ethereum invokes fantasy.
__________________
OMY * 3 2ish Done 7.28.17
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05-25-2017, 08:04 AM
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#7
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Full time employment: Posting here.
Join Date: Dec 2013
Posts: 774
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Put the Coin app on your phone & you can buy it.
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05-25-2017, 08:15 AM
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#8
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
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I wish I had at least $100 in bitcoin. I wouldn't mind $75million now. I now will buy anything Warren Buffet said he doesn't understand. That is a signal.
I think just like Google, we should invest a little bit of our money in moon shot type of stocks.
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05-25-2017, 08:26 AM
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#9
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Thinks s/he gets paid by the post
Join Date: May 2014
Location: Utrecht
Posts: 2,650
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Bought 5k worth when they were at $7 or $9 (can't remember exactly). Sold at around $20. I went through the Mt. Gox exchange. Didn't store money there for more than a few days, just to complete the transaction.
Yeah .. left a million on the table there
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05-25-2017, 09:32 AM
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#10
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Moderator
Join Date: Oct 2010
Posts: 10,622
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I dropped $10 into bitcoin about 7 years ago, but I think I threw-out the thumb drive I saved it on.
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05-25-2017, 10:15 AM
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#11
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2014
Posts: 6,985
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A number of years ago my son started mining and we joined in. Right now we each have 17 bitcoins and intend to hold until it hits 10k/coin. Then will cash in some and hold some. We have cashed in some along the way. Even figuring in cost of miners and electricity we have made $ through the years with mining. We keep all the information in our safe so if something were to happen to my son his wife and us can have access to it.
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05-25-2017, 11:27 AM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2006
Location: Boise
Posts: 7,863
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Quote:
Originally Posted by Teacher Terry
A number of years ago my son started mining and we joined in. Right now we each have 17 bitcoins and intend to hold until it hits 10k/coin. Then will cash in some and hold some. We have cashed in some along the way. Even figuring in cost of miners and electricity we have made $ through the years with mining. We keep all the information in our safe so if something were to happen to my son his wife and us can have access to it.
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I recommended to my son that he mine for bitcoin with his spare computing power (he has a gaming rig with a 1080 graphics card in it), but he thinks that mining damages the graphics card. Something about heat variances damaging the circuits. I don't agree, but don't really know otherwise. Anyone know one way or the other?
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
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05-25-2017, 11:38 AM
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#13
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 17,707
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I learned painful lessons back in the 80's not to invest in something I don't understand. I'm sure I've left money on the table, but "Once burned, twice shy" is now my motto. YMMV
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Ko'olau's Law -
Anything which can be used can be misused. Anything which can be misused will be.
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05-25-2017, 01:59 PM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2014
Posts: 6,985
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We have a dirt partial basement so with fans the computers stayed cool enough. Also my DH and son built them and they were in milk crates. When it ceased to be profitable he sold them. My son is the mastermind of all this and understands it. When we started it we decided that if we lost the $ we were fine with it because it was such a small amount.
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05-25-2017, 03:39 PM
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#15
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Moderator
Join Date: Oct 2010
Posts: 10,622
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The price when I invested $5 was about $10 per BTC, so I must have got about 0.5 BTC, so now worth $1,300. "Only" 160% XIRR.
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05-25-2017, 04:17 PM
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#16
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
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You need to find the thumb drive. But how many hours does it take to mine one bitcoin?
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05-25-2017, 04:26 PM
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#17
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Moderator
Join Date: Oct 2010
Posts: 10,622
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Quote:
Originally Posted by Fedup
You need to find the thumb drive.
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Yeah, I should start looking for it!!
Quote:
Originally Posted by Fedup
But how many hours does it take to mine one bitcoin?
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I didn't even try to mine. But, as I understand it, the true answer to your question is "indeterminate", because you might never get a coin.
The mining process involves simply running a crypto algorithm until it works. The more times you run it, the better your chances, but as most of us learned, even after getting "heads" 10 times in a row, the 11 time, the chance of a "heads" is still 50%.
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05-25-2017, 04:37 PM
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#18
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Thinks s/he gets paid by the post
Join Date: May 2014
Location: Utrecht
Posts: 2,650
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Quote:
Originally Posted by SecondCor521
I recommended to my son that he mine for bitcoin with his spare computing power (he has a gaming rig with a 1080 graphics card in it), but he thinks that mining damages the graphics card. Something about heat variances damaging the circuits. I don't agree, but don't really know otherwise. Anyone know one way or the other?
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If you keep it properly cooled, no issue.
However don't mine coins for profit with your home card: The electricity cost will be higher than the payoff, on average.
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05-25-2017, 05:05 PM
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#19
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2006
Location: Boise
Posts: 7,863
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Quote:
Originally Posted by Totoro
If you keep it properly cooled, no issue.
However don't mine coins for profit with your home card: The electricity cost will be higher than the payoff, on average.
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It would be a home card. Electricity is about 5 cents per KWh.
__________________
"At times the world can seem an unfriendly and sinister place, but believe us when we say there is much more good in it than bad. All you have to do is look hard enough, and what might seem to be a series of unfortunate events, may in fact be the first steps of a journey." Violet Baudelaire.
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05-26-2017, 06:18 AM
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#20
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Thinks s/he gets paid by the post
Join Date: Jul 2013
Posts: 1,871
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From what I've read, the days of mining for the average person are over. It takes serious metal to be in that game now.
I'm planning on throwing a small amount (< 1% of portfolio) at altcoins in the near future. Pure speculation.
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