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Gorlax



Registered: 05/06/08
Posts: 6,695
Last seen: 16 days, 15 hours
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Re: Why isn't anyone talking about BTC??? [Re: psyconaught]
#19222766 - 12/03/13 03:25 PM (10 years, 1 month ago) |
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All of us that didn't buy them are probably fucking thinking the same shit. I was going to buy a grip when they were like 7$ a coin!! I tried finding a reliable place to buy them and couldn't that's basically why I never bought any... It really wouldn't matter anyways because my plan was to use them to buy shit on silk road so they would have probably went into someone elses cache.
whatever..can't wait to the bubble bursts out of spite
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DirtyTomFlint
( ಥـْـِـِـِـْಥ)




Registered: 11/26/13
Posts: 1,879
Loc: United Kingdom
Last seen: 1 year, 1 month
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Re: Why isn't anyone talking about BTC??? [Re: Gorlax]
#19222777 - 12/03/13 03:26 PM (10 years, 1 month ago) |
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Trust me, I've discussed it plenty with some mates irl. It would work, but you'd be taking a huge risk, a much bigger risk than investing in other stocks.
BTC is dope though.
--------------------
   Know Your Body, Know Your Mind, Know Your Substance, Know Your Source
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Big Worm
Perf



Registered: 04/20/09
Posts: 7,642
Last seen: 3 years, 9 months
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Re: Why isn't anyone talking about BTC??? [Re: DirtyTomFlint]
#19222905 - 12/03/13 03:49 PM (10 years, 1 month ago) |
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I'm definitely looking into LTC now.
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Atrium
Cunt Tickler

Registered: 08/18/13
Posts: 1,284
Last seen: 3 years, 4 months
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Re: Why isn't anyone talking about BTC??? [Re: Big Worm]
#19222951 - 12/03/13 04:03 PM (10 years, 1 month ago) |
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I'm currently thinking of locking in a contract with
https://products.butterflylabs.com/1-gh-cloud-hosted-bitcoin-hashing-power.html
and putting down for 500+GH power. Any reason not to? Short of the contract not starting until March?
I used my calculations of grossly overestimating difficulty, and underestimating BTC->USD... still pays out the ass.
-------------------- The only thing about Chemistry I like is all the psychedelics that come from it. The only reason I study Psychology is to have a legitimate excuse to enjoy Chemistry.
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DieCommie

Registered: 12/11/03
Posts: 29,258
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Re: Why isn't anyone talking about BTC??? [Re: Atrium]
#19223255 - 12/03/13 05:30 PM (10 years, 1 month ago) |
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Butterfly labs has a controversial history of pretty much never coming through on their promises. There is great drama over the past two years at the bitcoin forums over butterfly labs. Most people are turned off to them.
I did buy some hardware (FPGA) off them years ago, it came late but I did manage to make a profit. I tried to get some of the new hardware (ASIC) but they were dicking around too much and I got my money back. Looking back, that was the right thing to do because the difficulty shot up before they shipped out.
I just ran a calulation, I estimated difficulty to be a hundred times higher and the exchange rate to be a hundred times lower. You would make almost zero of your 5k investment. That is probably underestimating the conversion, but that not a gross overestimation of difficulty. Predicting difficulty is akin to predicting prices, but over the past few years almost everybody has underestimated how fast it would grow. I remember a year ago nay sayers claiming that the difficulty could be a hundred million by next year, lol, its seven times that. The difficulty will climb as long as the price is high, but when the price drops the difficulty does not drop that fast.
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Atrium
Cunt Tickler

Registered: 08/18/13
Posts: 1,284
Last seen: 3 years, 4 months
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Re: Why isn't anyone talking about BTC??? [Re: DieCommie]
#19223568 - 12/03/13 06:41 PM (10 years, 1 month ago) |
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Well, I ran a calculation of difficulty being 4 Billion, make a weird assumption that 20 coins per block is happening, increase Hashrate to 700 GH/S (Bro going in a few thousand with me) and estimating a profitability decline of .4 (whatever the hell that is) which is at default at .68 and higher somehow makes the profit higher. Overall, with all of those "none-real world" estimations, ~$1,400 will be made.
Take into account that BTC is being more widely accepted, 4 times the difficulty is way over, at least until I break even, which is 42 days under normal circumstances (save the coins still being worth half what they are CURRENTLY). So, if I break even in 42 days, the guesstimate of what will approximately be profit beyond, again, coins being half, will be roughly $10,000... in PROFITS.
Now, what difficulty did you guess at would be? Even if it reaches that 4,000,000 mark by say, August, from that point on will then be profit almost netting in another $2,000.
Edit: To assume 5 times, already high 1 bil, I will break even in 140 days roughly and make nearly 10,000USD.
-------------------- The only thing about Chemistry I like is all the psychedelics that come from it. The only reason I study Psychology is to have a legitimate excuse to enjoy Chemistry.
Edited by Atrium (12/03/13 06:58 PM)
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ManianFH
living in perverty


Registered: 07/06/04
Posts: 14,741
Last seen: 53 minutes, 39 seconds
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Re: Why isn't anyone talking about BTC??? [Re: Atrium]
#19239459 - 12/07/13 03:15 AM (10 years, 1 month ago) |
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Been on BTC-e for a while now. Finally started trading. The volatility on these cryptocurrencies are pretty wild. Who knows where it will be tomorrow but BTC has dropped around $400 over the past 8 hours. Uncertainty in China seems to be the catalyst but more than likely market makers are just pulling their strings.
I have been doing better avoiding emotions on price fluctuations, and just watching the buy/sell orders and where the pressure is coming from. Repeatedly buying NMC at 4.6 and selling above 5 has been profitable. Gonna secure a position in LTC should it dip under $20 again.
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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Atrium
Cunt Tickler

Registered: 08/18/13
Posts: 1,284
Last seen: 3 years, 4 months
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Re: Why isn't anyone talking about BTC??? [Re: ManianFH]
#19239998 - 12/07/13 09:20 AM (10 years, 1 month ago) |
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Yep I emotion bought at $780 last night for 1.3 coins then... 1 minute later I cancelled. It wasn't right. I'm glad I listened to myself. They dropped way too much last night.
-------------------- The only thing about Chemistry I like is all the psychedelics that come from it. The only reason I study Psychology is to have a legitimate excuse to enjoy Chemistry.
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ManianFH
living in perverty


Registered: 07/06/04
Posts: 14,741
Last seen: 53 minutes, 39 seconds
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Re: Why isn't anyone talking about BTC??? [Re: Atrium]
#19243309 - 12/08/13 01:05 AM (10 years, 1 month ago) |
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nice you were able to cancel. on my site once you buy youre locked in.
-------------------- notapillow said: "you are going about this endeavor all wrong. clear your mind of useless fear and concern. buy the ticket, take the ride, and all that.... " ChrisWho said: "It's all about the journey, not the destination."
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memes
Blessed



Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
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Re: Why isn't anyone talking about BTC??? [Re: ManianFH]
#19244590 - 12/08/13 11:38 AM (10 years, 1 month ago) |
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Quote:
mick said: nice you were able to cancel. on my site once you buy youre locked in.
maybe by "bought" he meant "put in a buy order" (which wasn't filled, and he then canceled)
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Atrium
Cunt Tickler

Registered: 08/18/13
Posts: 1,284
Last seen: 3 years, 4 months
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Re: Why isn't anyone talking about BTC??? [Re: memes]
#19245198 - 12/08/13 02:04 PM (10 years, 1 month ago) |
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Quote:
memes said:
Quote:
mick said: nice you were able to cancel. on my site once you buy youre locked in.
maybe by "bought" he meant "put in a buy order" (which wasn't filled, and he then canceled)
Yes, from CB I put in an order so to speak and I think they give you five minutes to cancel. I think, personally, the ship has sailed and BTC is no longer used for more than purchases. Not to make us rich.
-------------------- The only thing about Chemistry I like is all the psychedelics that come from it. The only reason I study Psychology is to have a legitimate excuse to enjoy Chemistry.
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