Hey man, got any Bitcoin?
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Lsbcal
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If I was going to speculate, I'd try to find the next big story growth stock. From what I know, most growth stocks had heart stopping declines somewhere along the way. But those declines are "probably" indistinguishable from permanent ones.
So it takes a bit of an act of faith. Kind of like buy-hold in indexed equities but with added risk of individual holdings.
So it takes a bit of an act of faith. Kind of like buy-hold in indexed equities but with added risk of individual holdings.
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Bitcoin is a processor hard function. I figured if a memory hard function crypto currency ever seemed to be getting a foothold, I'd drop in $5.
Chuckanut
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IMHO, Bitcoin is a speculation, pure and simple. The fact that many have made a fortune speculating on it, does not mean that will continue. Past performance is not guarantee of future results.
SecondCor521
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Your electricity cost is very low! Does that include transportation (network costs)?
Even then, bear in mind that an ASIC specifically designed for bitcoin mining is going to be an order of magnitude more efficient. And that's your competition. Think large Chinese computing farms with dirt cheap electricity. The last time you could be reasonably profitable doing mining with homegear was somewhere in 2013 I believe.
For the experience it might be fun though. If you want stable cashflows sign up for a mining pool. They share proceeds among participants. Otherwise you might get lucky or unlucky, never to see a single pay-off from mining in years.
Unless you can use someone else's electricity
My bad, I hadn't looked in a while. My summer rates are about 8.6 cents and my non-summer rates are a hair under 8 cents. Probably not worth it.
https://www.idahopower.com/AboutUs/RatesRegulatory/Rates/grcResidential.cfm
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Exactly. Using your spare computing power isn't even a beginning. I have a friend at work who had a rack of dedicated machines doing mining. He had to have an electrician run a separate line. I think it was 50 amps, but not sure. It was so big and so hot, that eventually his wife made him shut it down in the summer. He was in it early (mining) and the other day, he said he's accumulated about $500K. He's done well on it, but it has it's own issues. Mining is a business and he has to file as such with the IRS. He has to calculate a basis and will have to pay capital gains when he cashes in any of the money. He's pretty much out of mining at this point, but he's a computer geek and I think he enjoyed the technical challenge more than the financial gain.
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gcgang
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Back to my original question, and understanding that highly speculative Bitcoin is either the currency of the future or the tulip bulb of today, Aside from mining, how would you "buy" a Bitcoin? Has anyone ever bought, or used for payments?
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Things have changed since I was fiddling with it, but there was a site called "Dwolla" where you could ACH some funds, and then buy Bitcoin. They got out of the Bitcoin business, but I'm sure there are many places to buy Bitcoin nowadays, with so many people getting infected with ransomware and so need to buy Bitcoin.
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gcgang
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Ransomware. Now there's a growth industry.
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gcgang
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Cool. Thanks, feh!
Fedup
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Good news for those who were up deciding. Per CNBC, bitcoin lost 19% tonight. About $500 discount. Come'on, time to go all in.
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gcgang
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Maybe I'll be getting some. I just got a text offering online poker, payable in Bitcoin!
Maybe time to cash out at $2900.00 and switch to "India Stack".
Raoul Pal Warns Bitcoin Is A Mania, Not A Store Of Value... "I Sold-Out Last Week" | Zero Hedge
Raoul Pal Warns Bitcoin Is A Mania, Not A Store Of Value... "I Sold-Out Last Week" | Zero Hedge
Blue Collar Guy
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Since this thread has awoken, i will add my thoughts. I will warn everyone in here if i decide to buy/invest/ speculate on this bitcoin thing. I will give everyone 72 hour notice, because the minute i get involved in it , this thing will plummet .
Blue Collar Guy
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I noticed you signed up 3 years ago, im honored to be the first reply on your first comment. Please post follow ups so i can eat my heart out about my missing the boat on crypto currency.If its not too much trouble can you post some links about mastering crypto currency so that i can join you on the next laugh to the bank.
Koolau
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I was perusing the member list not long ago. IIRC there are something like 17,000 members who have never made a post. I'm glad at least one of them chose to join us with a first post.
fired_up, welcome and do please let us know a little about yourself in the "HI I AM" forum.
So you have dismissed me because this is my first post. That's fine. I see you have an opinion for practically everything so no reason not to have an opinion about me.
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Hi and thanks. I signed up on this site a while back but I guess this was my first post. Probably because I'm getting more comfortable with my own ability to retire sooner than later.
I'll do that!
I have about 20 bitcoin. I "mined" it myself back in 2011. At one point, I had close to 100, but spent it on stuff online, gambled some away, sold some, etc. This was back when it was below $50. Who knew what it would be worth!
It an awesome new technology and investment. Maybe we'll lose it all and not care much. Or maybe we'll hit big time. Either way, great time to be alive!
Blue Collar Guy
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So is that a no to posting some links to crypto currency education ?
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