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OfflineVapoRs
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Should I invest in bitcoins?
    #19191542 - 11/26/13 11:34 AM (10 years, 2 months ago)

Simple question, should I invest in bitcoins? 

Any and all advice welcome!!  Ready.... GO!


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Invisibleluvdemboomers
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Re: Should I invest in bitcoins? [Re: VapoRs]
    #19191553 - 11/26/13 11:38 AM (10 years, 2 months ago)

holy shit... 845...


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InvisibleInto The Woods
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Re: Should I invest in bitcoins? [Re: VapoRs]
    #19191558 - 11/26/13 11:38 AM (10 years, 2 months ago)

Yes, but wait until the bubble pops again.


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InvisibleTrentBoyett
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Re: Should I invest in bitcoins? [Re: VapoRs]
    #19191633 - 11/26/13 11:54 AM (10 years, 2 months ago)

You're a little late.


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InvisibleInto The Woods
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Re: Should I invest in bitcoins? [Re: TrentBoyett]
    #19191646 - 11/26/13 11:57 AM (10 years, 2 months ago)

It can't be long before it crashes again now, though.


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InvisibleDieCommie

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Re: Should I invest in bitcoins? [Re: VapoRs]
    #19191649 - 11/26/13 11:57 AM (10 years, 2 months ago)

No.  If you are going to invest in crypto-curriences I suggest getting a 7970/7950 and mine LTC.  I'm going to pick up a couple this friday.


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Offlinehighc
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Re: Should I invest in bitcoins? [Re: TrentBoyett]
    #19191660 - 11/26/13 12:00 PM (10 years, 2 months ago)

Quote:

mjmihalov said:
You're a little late.




I bought 10 months ago for about $1000 I sold them last week for over $8500.


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InvisibleSynthe
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Re: Should I invest in bitcoins? [Re: Into The Woods]
    #19191675 - 11/26/13 12:02 PM (10 years, 2 months ago)

Quote:

Into The Woods said:
Yes, but wait until the bubble pops again.



this. i may do the same


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Offlineganjfather
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Re: Should I invest in bitcoins? [Re: highc]
    #19191690 - 11/26/13 12:05 PM (10 years, 2 months ago)

Quote:

highc said:
Quote:

mjmihalov said:
You're a little late.




I bought 10 months ago for about $1000 I sold them last week for over $8500.





Yes, but that was 10 months ago, when it was a REALLY good idea to invest in BTC.



What goes up, must come down, and bitcoins have been up for a while.


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Offlinehighc
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Re: Should I invest in bitcoins? [Re: Synthe]
    #19191711 - 11/26/13 12:10 PM (10 years, 2 months ago)

Your not going to exactly know though. China started excepting them and the silk road bust drove them up. If future black markets get busted in the same manner it will not have as big of an impact. Since the bust they are popping up everywhere which spreads the wealth out. What is in your favor still is how new the currently is. So you still have a little window to work with. The more they are recognized and accepted the more stable they will become and less likely there will be huge fluctuations.


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Offlinehighc
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Re: Should I invest in bitcoins? [Re: ganjfather]
    #19191732 - 11/26/13 12:16 PM (10 years, 2 months ago)

Quote:

ganjfather said:
Quote:

highc said:
Quote:

mjmihalov said:
You're a little late.




I bought 10 months ago for about $1000 I sold them last week for over $8500.





Yes, but that was 10 months ago, when it was a REALLY good idea to invest in BTC.



What goes up, must come down, and bitcoins have been up for a while.




I'm my own grammer Nazi. I meant 10, months ago. It was like 3 months. When they first came into decent attention you could get them about $4.64. Imagine the payoff on that if you sold them when they were going for $1000


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Offlineganjfather
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Re: Should I invest in bitcoins? [Re: highc]
    #19191752 - 11/26/13 12:21 PM (10 years, 2 months ago)

Oh yes, I've heard of a guy investing something like 2k when they first came to light and he made enough to basically retire.

That's the dream. And that was HUGE gamble back then because the fate of BTC was completely unknown.


It's a gamble either way. The thing was silk road happened around a month ago so the hype from that is dieing. There is a decent chance that they will keep going up, but I wouldn't expect TOO drastic of an increase.


Definitely a gamble. I'm too conservative with my money to gamble on BTC right now, but if this was a year ago and I had a chunk of change I probably would have.


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OfflineSchmendrick
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Re: Should I invest in bitcoins? [Re: ganjfather]
    #19191915 - 11/26/13 12:57 PM (10 years, 2 months ago)

Next time the bubble pops, I will be buying in.  I think BTC has at least one good bubble left in it.  As with all short term investments though, the trick is to get out before it pops again. 

Set a number you are looking for.  For me, it will be 4x my investment.  When I have made that much back, I will sell... no matter how 'hot' or 'trending' bitcoins are at the time.  Bubbles can pop at any moment.


Edited by Schmendrick (11/26/13 01:00 PM)


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OfflineVapoRs
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Re: Should I invest in bitcoins? [Re: Schmendrick]
    #19192125 - 11/26/13 01:38 PM (10 years, 2 months ago)

All great advice guys, thanks!  I will probably buy in once the bubble pops as well.  Does anyone know of any good websites to monitor the day by day price of bitcoins?


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InvisibleDieCommie

Registered: 12/11/03
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Re: Should I invest in bitcoins? [Re: VapoRs]
    #19192176 - 11/26/13 01:51 PM (10 years, 2 months ago)

Quote:

VapoRs said:
All great advice guys, thanks!  I will probably buy in once the bubble pops as well.  Does anyone know of any good websites to monitor the day by day price of bitcoins?




I suggest this site: https://bitpay.com/bitcoin-exchange-rates

The price they have is the "best" price because that is what you will get if you try to spend your BTC online since bitpay is the service most vendors use.


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InvisibleTrentBoyett
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Re: Should I invest in bitcoins? [Re: VapoRs]
    #19192518 - 11/26/13 03:12 PM (10 years, 2 months ago)

Quote:

VapoRs said:
All great advice guys, thanks!  I will probably buy in once the bubble pops as well.  Does anyone know of any good websites to monitor the day by day price of bitcoins?




I like

http://preev.com/

because it updates automatically and it shows the price in the tab header(or whatever its called?) for your browser, so you don't even have to go to the website to see the price, just keep the tab open and look at it whenever you want.


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InvisibleSynthe
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Re: Should I invest in bitcoins? [Re: TrentBoyett]
    #19192531 - 11/26/13 03:14 PM (10 years, 2 months ago)

Quote:

mjmihalov said:
Quote:

VapoRs said:
All great advice guys, thanks!  I will probably buy in once the bubble pops as well.  Does anyone know of any good websites to monitor the day by day price of bitcoins?




I like

http://preev.com/

because it updates automatically and it shows the price in the tab header(or whatever its called?) for your browser, so you don't even have to go to the website to see the price, just keep the tab open and look at it whenever you want.



:whathesaid:

preev is my favorite tool to check the prices


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InvisibleMagicman69
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Re: Should I invest in bitcoins? [Re: Synthe]
    #19192584 - 11/26/13 03:21 PM (10 years, 2 months ago)

I would totally invest but it seems difficult to offload them when you want to sell. Maybe thats not true, and I certainly have no idea, but it appears that way to me from the outside.


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InvisibleDieCommie

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Re: Should I invest in bitcoins? [Re: Magicman69]
    #19192604 - 11/26/13 03:24 PM (10 years, 2 months ago)

Quote:

Magicman69 said:
I would totally invest but it seems difficult to offload them when you want to sell. Maybe thats not true, and I certainly have no idea, but it appears that way to me from the outside.




I've mined many over the years and know a little bit about selling them. 

I used to sell mine to a service that bought them directly and sent me a check.  They have since closed down due to "laws" (lol).  In the past year I have sold most of mine to people on craigslist for cash.  I live in a small metro area (less than a million people) but still had more than enough demand to sell off all I wanted.  I also unloaded a few through http://www.amagimetals.com/ by buying silver and gold.


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OfflineSchmendrick
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Re: Should I invest in bitcoins? [Re: DieCommie]
    #19192664 - 11/26/13 03:35 PM (10 years, 2 months ago)

897 as of this post.


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InvisibleA Day InThe Life
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Re: Should I invest in bitcoins? [Re: Schmendrick] * 1
    #19192705 - 11/26/13 03:45 PM (10 years, 2 months ago)

Looking at bitcoin prices makes me feel sad for a missed opportunity that I didn't jump on when I had the chance.. :frown:


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:print:  Free Spore Ring Canada  :print:


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InvisibleHobozen
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Re: Should I invest in bitcoins? [Re: A Day InThe Life]
    #19192710 - 11/26/13 03:46 PM (10 years, 2 months ago)



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InvisibleDieCommie

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Re: Should I invest in bitcoins? [Re: A Day InThe Life] * 3
    #19192733 - 11/26/13 03:50 PM (10 years, 2 months ago)

Quote:

A Day InThe Life said:
Looking at bitcoin prices makes me feel sad for a missed opportunity that I didn't jump on when I had the chance.. :frown:




Dont ever play the market then.  :grin:

Seriously though, after already having money in the market for a few years I learned pretty well not to kick myself for not having a crystal ball.  I sold hundreds of bitcoins for under $10 a piece.  I "missed out".  But if I had a crystal ball I would use it to win the lottery rather than speculate on bitcoins.  There is no reason to lament opportunity lost due to an uncertain future because that is always the case for all of us.


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OfflineSchmendrick
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Re: Should I invest in bitcoins? [Re: DieCommie]
    #19192756 - 11/26/13 03:57 PM (10 years, 2 months ago)

Quote:

DieCommie said:
Quote:

A Day InThe Life said:
Looking at bitcoin prices makes me feel sad for a missed opportunity that I didn't jump on when I had the chance.. :frown:




Dont ever play the market then.  :grin:

Seriously though, after already having money in the market for a few years I learned pretty well not to kick myself for not having a crystal ball.  I sold hundreds of bitcoins for under $10 a piece.  I "missed out".  But if I had a crystal ball I would use it to win the lottery rather than speculate on bitcoins.  There is no reason to lament opportunity lost due to an uncertain future because that is always the case for all of us.





Yep.  Just keep your wits about you and your eyes open for future opportunities.  Learn lessons from the past, but don't dwell on it... for there be dragons.


Edited by Schmendrick (11/26/13 03:58 PM)


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OfflineMisterSandman
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Re: Should I invest in bitcoins? [Re: Schmendrick]
    #19193072 - 11/26/13 05:07 PM (10 years, 2 months ago)

It feels soooooo good when you make money with invested bitcoins. Its like free drugs.....:awesomenod:


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InvisibleSynthe
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Re: Should I invest in bitcoins? [Re: MisterSandman]
    #19193095 - 11/26/13 05:12 PM (10 years, 2 months ago)

Quote:

MisterSandman said:
It feels soooooo good when you make money with invested bitcoins. Its like free drugs.....:awesomenod:



:whathesaid:



:feelsgoodman:


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InvisibleModestMouse
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Re: Should I invest in bitcoins? [Re: Schmendrick]
    #19193450 - 11/26/13 06:22 PM (10 years, 2 months ago)

Quote:

Schmendrick said:
Set a number you are looking for.  For me, it will be 4x my investment. 



:goodluckwiththat:


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OfflineSchmendrick
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Re: Should I invest in bitcoins? [Re: ModestMouse]
    #19193537 - 11/26/13 06:38 PM (10 years, 2 months ago)

Quote:

ModestMouse said:
Quote:

Schmendrick said:
Set a number you are looking for.  For me, it will be 4x my investment. 



:goodluckwiththat:




Make faces all you want, that's what mine will be.  It shouldn't be that high for most people, but I have money I can afford to lose, so I am willing to take a bit of a bigger risk.

Even so, I will keep an eye on the market and sell prematurely if it becomes clear that I should do so.


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OfflineSkeletalSpore
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Re: Should I invest in bitcoins? [Re: ModestMouse]
    #19193538 - 11/26/13 06:38 PM (10 years, 2 months ago)

holy shit $967! I was 2 minutes away from getting 10 bitcoins when they were $70-$80 each (right after SR went down), but then I decided that it's not worth it...


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Invisibleluvdemboomers
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Re: Should I invest in bitcoins? [Re: SkeletalSpore]
    #19193552 - 11/26/13 06:40 PM (10 years, 2 months ago)

yea I'm pretty sure everyone is kicking their ass for not buying them


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InvisibleHobozen
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Re: Should I invest in bitcoins? [Re: luvdemboomers]
    #19193593 - 11/26/13 06:48 PM (10 years, 2 months ago)

people might be kicking themselves in their asses in a few months for not buying now


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Invisibleluvdemboomers
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Re: Should I invest in bitcoins? [Re: Hobozen]
    #19193699 - 11/26/13 07:10 PM (10 years, 2 months ago)

Quote:

blankk said:
people might be kicking themselves in their asses in a few months for not buying now



I was thinking that too... just seems too risky now


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Invisiblepwnasaurus
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Re: Should I invest in bitcoins? [Re: SkeletalSpore]
    #19194011 - 11/26/13 08:22 PM (10 years, 2 months ago)

Quote:

SkeletalSpore said:
holy shit $967! I was 2 minutes away from getting 10 bitcoins when they were $70-$80 each (right after SR went down), but then I decided that it's not worth it...



I did buy $1000 of bitcoins right after SR went down for $110 but I sold at $200 :frown:

Still made a handsome profit but it could have been 5 times more.


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Invisiblethelanzii

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Re: Should I invest in bitcoins? [Re: pwnasaurus] * 3
    #19194025 - 11/26/13 08:24 PM (10 years, 2 months ago)

best time to plant a tree was twenty years ago, second best time is now


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InvisibleBiodiversity
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Re: Should I invest in bitcoins? [Re: thelanzii]
    #19201559 - 11/28/13 04:50 PM (10 years, 2 months ago)

It's over a 1000 now.


I wonder if it will ever fall back down.  I am starting to think it won't.


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InvisibleSynthe
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Re: Should I invest in bitcoins? [Re: Biodiversity]
    #19201564 - 11/28/13 04:52 PM (10 years, 2 months ago)

Quote:

Biodiversity said:
It's over a 1000 now.


I wonder if it will ever fall back down.  I am starting to think it won't.



It has to fall down eventually... and when it does, we buy in.


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Invisiblepwnasaurus
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Re: Should I invest in bitcoins? [Re: Synthe]
    #19201833 - 11/28/13 06:05 PM (10 years, 2 months ago)

Quote:

Synthe said:
Quote:

Biodiversity said:
It's over a 1000 now.


I wonder if it will ever fall back down.  I am starting to think it won't.



It has to fall down eventually... and when it does, we buy in.



Why does it "have" to?


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InvisibleSynthe
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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19201875 - 11/28/13 06:13 PM (10 years, 2 months ago)

Quote:

pwnasaurus said:
Quote:

Synthe said:
Quote:

Biodiversity said:
It's over a 1000 now.


I wonder if it will ever fall back down.  I am starting to think it won't.



It has to fall down eventually... and when it does, we buy in.



Why does it "have" to?



Have you ever heard of a currency that only ever underwent inflation and not deflation?

Eventually, it will dip a little bit, presenting a decent opportunity to save a bit more.


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InvisibleBiodiversity
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Re: Should I invest in bitcoins? [Re: Synthe]
    #19201925 - 11/28/13 06:22 PM (10 years, 2 months ago)

I was thinking with the gaining popularity that it wouldn't.  Perhaps will see bitcoins go up to 10,000 a piece, I think it's possible.





I want to invest a 1000 soon.    But i dunno, I've been holding back.  If you or I Had stuck with our "guns" and saved and continued to buy we would be really happy right now.



Early on, bitcoins seemed to be centered mainly in the drug trade, though I may be wrong.  Now its growing and is becoming more legitament world wide.



Though there is a possibility it could fall a bit, but I don't know. I knew it was something big before, I don't know what it will be like in the future.  Even if my gain isn't big, I don't want to miss out. 

I feel really dumb now, I like many of you, was someone who had something in their grasps, and let it slip away.



I love all you.


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OfflineKingKnowledge
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Re: Should I invest in bitcoins? [Re: Synthe] * 1
    #19201928 - 11/28/13 06:22 PM (10 years, 2 months ago)

Quote:

Synthe said:
Quote:

pwnasaurus said:
Quote:

Synthe said:
Quote:

Biodiversity said:
It's over a 1000 now.


I wonder if it will ever fall back down.  I am starting to think it won't.



It has to fall down eventually... and when it does, we buy in.



Why does it "have" to?



Have you ever heard of a currency that only ever underwent inflation and not deflation?

Eventually, it will dip a little bit, presenting a decent opportunity to save a bit more.




It actually kinda does "have" to. The problem with bitcoins is that there's no REAL need for them. Sure, they are useful as online currency and to buy illegal things, but its not like they have any use that any commodity does. Toilet paper is for wiping your ass. Q-tips are for cleaning your ears. Bitcoins aren't FOR anything specifically.

This is why lots of economists are saying bitcoin has to drop eventually, and why its so volatile.


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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19201935 - 11/28/13 06:23 PM (10 years, 2 months ago)

Quote:

pwnasaurus said:
Quote:

Synthe said:
Quote:

Biodiversity said:
It's over a 1000 now.


I wonder if it will ever fall back down.  I am starting to think it won't.



It has to fall down eventually... and when it does, we buy in.



Why does it "have" to?




Cause currently it's value is buoyed purely by speculation (greed) rather than utility. Yes, you might be able to buy a beer with btc in some European country, or some junk on a couple of sites, but on the whole, most people are buying in to make money.

Once this bubble pops (just look at the recent growth rates), the BTC forums are going to be an entertaining read.


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Offlinemisterjingo
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Re: Should I invest in bitcoins? [Re: Biodiversity]
    #19201954 - 11/28/13 06:26 PM (10 years, 2 months ago)

Quote:

Biodiversity said:
Early on, bitcoins seemed to be centered mainly in the drug trade, though I may be wrong.  Now its growing and is becoming more legitament world wide.





There are still some fairly big drug .onions sites out there. The day after SR went down, a ton of SR vendors transferred over to another fairly well known site. I check it out occasionally and it seems most of the old SR crowd are over there now. So I'd say drugs still play a big part in btc's utility.


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Invisiblepwnasaurus
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Re: Should I invest in bitcoins? [Re: misterjingo]
    #19202234 - 11/28/13 07:20 PM (10 years, 2 months ago)

Quote:

misterjingo said:
Quote:

pwnasaurus said:
Quote:

Synthe said:
Quote:

Biodiversity said:
It's over a 1000 now.


I wonder if it will ever fall back down.  I am starting to think it won't.



It has to fall down eventually... and when it does, we buy in.



Why does it "have" to?




Cause currently it's value is buoyed purely by speculation (greed) rather than utility. Yes, you might be able to buy a beer with btc in some European country, or some junk on a couple of sites, but on the whole, most people are buying in to make money.

Once this bubble pops (just look at the recent growth rates), the BTC forums are going to be an entertaining read.



Right, so you are PURELY speculating.  I'm not saying it isn't likely that it will crash, but it doesn't "have" to by any means.  Bitcoins are literally PURE speculation.  Nobody has a fucking clue what's going to happen.  There are no fundamentals.


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Invisiblepwnasaurus
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Re: Should I invest in bitcoins? [Re: KingKnowledge]
    #19202242 - 11/28/13 07:21 PM (10 years, 2 months ago)

Quote:

KingKnowledge said:
It actually kinda does "have" to. The problem with bitcoins is that there's no REAL need for them. Sure, they are useful as online currency and to buy illegal things, but its not like they have any use that any commodity does. Toilet paper is for wiping your ass. Q-tips are for cleaning your ears. Bitcoins aren't FOR anything specifically.

This is why lots of economists are saying bitcoin has to drop eventually, and why its so volatile.



Several Chinese companies have started accepting them.  What if the become as accepted (if not more so) than the US dollar?  It absolutely does not "have" to drop.  That is pure speculation.

US dollars aren't FOR anything specifically either - they are for everything.  That is the definition of a currency.


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OfflineKingKnowledge
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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19202256 - 11/28/13 07:26 PM (10 years, 2 months ago)

Quote:

pwnasaurus said:
Quote:

KingKnowledge said:
It actually kinda does "have" to. The problem with bitcoins is that there's no REAL need for them. Sure, they are useful as online currency and to buy illegal things, but its not like they have any use that any commodity does. Toilet paper is for wiping your ass. Q-tips are for cleaning your ears. Bitcoins aren't FOR anything specifically.

This is why lots of economists are saying bitcoin has to drop eventually, and why its so volatile.



Several Chinese companies have started accepting them.  What if the become as accepted (if not more so) than the US dollar?  It absolutely does not "have" to drop.  That is pure speculation.

US dollars aren't FOR anything specifically either - they are for everything.  That is the definition of a currency.




There's a HUGE difference between online currency and national currency.
Just to give one example, note that when the Bitcoin was worth 800$ in American dollars, it was worth 940$ in yuans converted to American dollars.

Even if it becomes accepted, it's still not a national currency backed by a country's economic and political system.


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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19202260 - 11/28/13 07:27 PM (10 years, 2 months ago)

Quote:

pwnasaurus said:
Right, so you are PURELY speculating.




Yep, based upon the near exponential recent rise and the desperation (and lack of knowledge) I see on a lot of BTC forums. Hell, people have been getting in serious debt to buy in which imo is crazy.

But I agree with you that we have no clue where this is going. I used to think the people claiming a 1k btc value were crazy. It's entertaining either way.

I used to mine, but I sold all my equipment 3 months ago when difficulty started going through the roof. Now I'm just watching from the side lines.


Edited by misterjingo (11/28/13 07:28 PM)


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Re: Should I invest in bitcoins? [Re: KingKnowledge]
    #19202271 - 11/28/13 07:29 PM (10 years, 2 months ago)

Quote:

KingKnowledge said:
Even if it becomes accepted, it's still not a national currency backed by a country's economic and political system.



Which could actually end up being an advantage for BTC, not a disadvantage, at least in certain countries.  Many countries have unreliable governments and economies.  BTC could help stabilize those countries because even if they are still somewhat volatile they may be safer than the fiat currency of that country.

I am somewhat playing devil's advocate, but you are really not considering all the angles.  NOBODY knows what will happen.  Literally only time will tell.


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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19202283 - 11/28/13 07:30 PM (10 years, 2 months ago)

Quote:

pwnasaurus said:
Quote:

KingKnowledge said:
Even if it becomes accepted, it's still not a national currency backed by a country's economic and political system.



Which could actually end up being an advantage for BTC, not a disadvantage, at least in certain countries.  Many countries have unreliable governments and economies.  BTC could help stabilize those countries because even if they are still somewhat volatile they may be safer than the fiat currency of that country.

I am somewhat playing devil's advocate, but you are really not considering all the angles.  NOBODY knows what will happen.  Literally only time will tell.





I got a little Devil's Advocate vibe :smile: Its true though, of course I don't know the future, I'm just making educated guesses based on other currencies.

Totally possible BTC blows up. Or crashes.


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Re: Should I invest in bitcoins? [Re: KingKnowledge]
    #19202310 - 11/28/13 07:38 PM (10 years, 2 months ago)

Quote:

KingKnowledge said:
I'm just making educated guesses based on other currencies.

Totally possible BTC blows up. Or crashes.



IMO you cannot accurately gauge BTC based on other currencies.  Bitcoins have no fundamentals and we have never seen anything like them before.  I do worry about their long-term viability since they are not backed by anything but if they do manage to stabilize for a few years there's no reason for people to have less faith in them than a fiat currency if they are literally accepted everywhere around the world.


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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19202317 - 11/28/13 07:40 PM (10 years, 2 months ago)

Quote:

pwnasaurus said:
Quote:

KingKnowledge said:
I'm just making educated guesses based on other currencies.

Totally possible BTC blows up. Or crashes.



IMO you cannot accurately gauge BTC based on other currencies.  Bitcoins have no fundamentals and we have never seen anything like them before.  I do worry about their long-term viability since they are not backed by anything but if they do manage to stabilize for a few years there's no reason for people to have less faith in them than a fiat currency if they are literally accepted everywhere around the world.




Adding on to your point, its a different ballpark altogether because of the way bitcoins are mined. For currencies, dollars/coins are minted officially, but with this whole mining thing, it seems a bit harder to regulate total amount in the market and fluxuations.


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Re: Should I invest in bitcoins? [Re: KingKnowledge]
    #19202322 - 11/28/13 07:41 PM (10 years, 2 months ago)

invest in suffering


--------------------


And I will bring you out from the people, and will gather you out of the countries wherein ye are scattered, with a mighty hand, and with a stretched out arm, and with fury poured out.


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Re: Should I invest in bitcoins? [Re: KingKnowledge]
    #19202327 - 11/28/13 07:41 PM (10 years, 2 months ago)

Quote:

KingKnowledge said:
Quote:

pwnasaurus said:
Quote:

KingKnowledge said:
I'm just making educated guesses based on other currencies.

Totally possible BTC blows up. Or crashes.



IMO you cannot accurately gauge BTC based on other currencies.  Bitcoins have no fundamentals and we have never seen anything like them before.  I do worry about their long-term viability since they are not backed by anything but if they do manage to stabilize for a few years there's no reason for people to have less faith in them than a fiat currency if they are literally accepted everywhere around the world.




Adding on to your point, its a different ballpark altogether because of the way bitcoins are mined. For currencies, dollars/coins are minted officially, but with this whole mining thing, it seems a bit harder to regulate total amount in the market and fluxuations.



Actually it's the opposite - it's extremely easy to know exactly how many BTC are being mined, at what rate, and how many are in the market.  It is open source code that is available for anyone to see.  It is a completely transparent process which cannot be said about fiat currencies.  You can even see everybody's wallets and who is holding on to a large number of BTC and all the transactions that are occurring globally.


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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19202341 - 11/28/13 07:45 PM (10 years, 2 months ago)

Quote:

pwnasaurus said:
Quote:

KingKnowledge said:
Quote:

pwnasaurus said:
Quote:

KingKnowledge said:
I'm just making educated guesses based on other currencies.

Totally possible BTC blows up. Or crashes.



IMO you cannot accurately gauge BTC based on other currencies.  Bitcoins have no fundamentals and we have never seen anything like them before.  I do worry about their long-term viability since they are not backed by anything but if they do manage to stabilize for a few years there's no reason for people to have less faith in them than a fiat currency if they are literally accepted everywhere around the world.




Adding on to your point, its a different ballpark altogether because of the way bitcoins are mined. For currencies, dollars/coins are minted officially, but with this whole mining thing, it seems a bit harder to regulate total amount in the market and fluxuations.



Actually it's the opposite - it's extremely easy to know exactly how many BTC are being mined, at what rate, and how many are in the market.  It is open source code that is available for anyone to see.  It is a completely transparent process which cannot be said about fiat currencies.




I wouldn't say extremely easy...you need some sort of tech background. For example, https://blockchain.info/tx/1c12443203a48f42cdf7b1acee5b4b1c1fedc144cb909a3bf5edbffafb0cd204

Can you read that? I sure cant :smile: But that code stands for an 150 million dollar bitcoin transaction. I still stand by my opinion that even though the bitcoin market is open for anyone to see, it can be much more confusing than simply issuing currency at a regular rate.


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Re: Should I invest in bitcoins? [Re: KingKnowledge]
    #19202343 - 11/28/13 07:47 PM (10 years, 2 months ago)

I wouldn't while it's at 1,000$.


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Re: Should I invest in bitcoins? [Re: KingKnowledge]
    #19202370 - 11/28/13 07:53 PM (10 years, 2 months ago)

Quote:

KingKnowledge said:
I wouldn't say extremely easy...you need some sort of tech background. For example, https://blockchain.info/tx/1c12443203a48f42cdf7b1acee5b4b1c1fedc144cb909a3bf5edbffafb0cd204

Can you read that? I sure cant :smile: But that code stands for an 150 million dollar bitcoin transaction. I still stand by my opinion that even though the bitcoin market is open for anyone to see, it can be much more confusing than simply issuing currency at a regular rate.



I couldn't disagree more.  It is open to be confirmed by experts.  Whether or not the average person understands it is pretty irrelevant.  The fact that transactions are completely open and verifiable by experts, humans, and tools, make it far more stable inherently in that regard.


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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19202378 - 11/28/13 07:56 PM (10 years, 2 months ago)

Quote:

pwnasaurus said:
Quote:

KingKnowledge said:
I wouldn't say extremely easy...you need some sort of tech background. For example, https://blockchain.info/tx/1c12443203a48f42cdf7b1acee5b4b1c1fedc144cb909a3bf5edbffafb0cd204

Can you read that? I sure cant :smile: But that code stands for an 150 million dollar bitcoin transaction. I still stand by my opinion that even though the bitcoin market is open for anyone to see, it can be much more confusing than simply issuing currency at a regular rate.



I couldn't disagree more.  It is open to be confirmed by experts.  Whether or not the average person understands it is pretty irrelevant.  The fact that transactions are completely open and verifiable by experts, humans, and tools, make it far more stable inherently in that regard.




Well we can agree to disagree then. I think it is very important whether the average person understands the market, since I am discussing the general act of investing, which is done by average people...


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Re: Should I invest in bitcoins? [Re: KingKnowledge]
    #19202383 - 11/28/13 07:59 PM (10 years, 2 months ago)

Quote:

KingKnowledge said:
Quote:

pwnasaurus said:
Quote:

KingKnowledge said:
I wouldn't say extremely easy...you need some sort of tech background. For example, https://blockchain.info/tx/1c12443203a48f42cdf7b1acee5b4b1c1fedc144cb909a3bf5edbffafb0cd204

Can you read that? I sure cant :smile: But that code stands for an 150 million dollar bitcoin transaction. I still stand by my opinion that even though the bitcoin market is open for anyone to see, it can be much more confusing than simply issuing currency at a regular rate.



I couldn't disagree more.  It is open to be confirmed by experts.  Whether or not the average person understands it is pretty irrelevant.  The fact that transactions are completely open and verifiable by experts, humans, and tools, make it far more stable inherently in that regard.




Well we can agree to disagree then. I think it is very important whether the average person understands the market, since I am discussing the general act of investing, which is done by average people...



And they are very often advised by experts.  There's no reason that cannot be done for BTC as well.  The average person does not know very much about money beyond the amount that they get on their paycheck and how much of that goes to rent.


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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19202390 - 11/28/13 08:00 PM (10 years, 2 months ago)

Quote:

pwnasaurus said:
Quote:

KingKnowledge said:
Quote:

pwnasaurus said:
Quote:

KingKnowledge said:
I wouldn't say extremely easy...you need some sort of tech background. For example, https://blockchain.info/tx/1c12443203a48f42cdf7b1acee5b4b1c1fedc144cb909a3bf5edbffafb0cd204

Can you read that? I sure cant :smile: But that code stands for an 150 million dollar bitcoin transaction. I still stand by my opinion that even though the bitcoin market is open for anyone to see, it can be much more confusing than simply issuing currency at a regular rate.



I couldn't disagree more.  It is open to be confirmed by experts.  Whether or not the average person understands it is pretty irrelevant.  The fact that transactions are completely open and verifiable by experts, humans, and tools, make it far more stable inherently in that regard.




Well we can agree to disagree then. I think it is very important whether the average person understands the market, since I am discussing the general act of investing, which is done by average people...



And they are very often advised by experts.  There's no reason that cannot be done for BTC as well.  The average person does not know very much about money beyond the amount that they get on their paycheck and how much of that goes to rent.




If that's your opinion on the average person, maybe I'm talking about slightly-above average people


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Re: Should I invest in bitcoins? [Re: KingKnowledge]
    #19202396 - 11/28/13 08:03 PM (10 years, 2 months ago)

Someone with moderate intelligence can research BTC just as easily as any other topic.

I do see potential issues with BTC but the one you are raising is not one of them.


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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19202423 - 11/28/13 08:08 PM (10 years, 2 months ago)

Quote:

pwnasaurus said:
Someone with moderate intelligence can research BTC just as easily as any other topic.






Tell that to an elderly man or woman who isn't as tech-savy as you. This BTC shit looks like Sanskrit to some people who aren't as familiar to computers as we are.

Maybe you see no problem with the points I'm raising because you're a smart person who understands the market and the entire deal with BTC. But this isn't the case with everyone. Some people have expertise in other areas.


Edited by KingKnowledge (11/28/13 08:08 PM)


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Re: Should I invest in bitcoins? [Re: KingKnowledge]
    #19202432 - 11/28/13 08:09 PM (10 years, 2 months ago)

Quote:

KingKnowledge said:
Quote:

pwnasaurus said:
Someone with moderate intelligence can research BTC just as easily as any other topic.






Tell that to an elderly man or woman who isn't as tech-savy as you. This BTC shit looks like Sanskrit to some people who aren't as familiar to computers as we are.



Elderly people are generally making risky investments in anything, so that demographic isn't really relevant IMO.  When you aren't working any more you cannot afford to make risky investments.


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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19202441 - 11/28/13 08:11 PM (10 years, 2 months ago)

Quote:

pwnasaurus said:
Quote:

KingKnowledge said:
Quote:

pwnasaurus said:
Someone with moderate intelligence can research BTC just as easily as any other topic.






Tell that to an elderly man or woman who isn't as tech-savy as you. This BTC shit looks like Sanskrit to some people who aren't as familiar to computers as we are.



Elderly people are generally making risky investments in anything, so that demographic isn't really relevant IMO.  When you aren't working any more you cannot afford to make risky investments.




You can't just rule out full demographics based on an assumption that old people don't take risks....a lot of retired folk want to expand their fortunes to pass on to future generations.

:shrug:

This argument isn't really getting anywhere. I don't even know why I'm arguing, so I'm done.
I just want to say that BTC is trickier than it seems, and I think we'll all see this soon.


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Re: Should I invest in bitcoins? [Re: KingKnowledge]
    #19202445 - 11/28/13 08:14 PM (10 years, 2 months ago)

I change my answer to yes. Yes you should invest.


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Re: Should I invest in bitcoins? [Re: KingKnowledge]
    #19202475 - 11/28/13 08:25 PM (10 years, 2 months ago)

Quote:

KingKnowledge said:
This argument isn't really getting anywhere. I don't even know why I'm arguing, so I'm done.
I just want to say that BTC is trickier than it seems, and I think we'll all see this soon.



It depends on what you mean by tricky.  The protocol itself and the number of bitcoins in circulation, as well as the mining rate, are trivial to determine.  That is what you were arguing against.

Of course determining the "value" of bitcoins and the avenue to lower volatility is a tricky prospect since there are no fundamentals involved.


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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19202483 - 11/28/13 08:27 PM (10 years, 2 months ago)

Yes, BTC is at best completely worthless and at worst broken (not yet proven but I believe it will be cracked).

That's not to say there isn't money to be made here. For a short while.


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Re: Should I invest in bitcoins? [Re: ModestMouse]
    #19202598 - 11/28/13 09:05 PM (10 years, 2 months ago)

Quote:

ModestMouse said:
Yes, BTC is at best completely worthless and at worst broken (not yet proven but I believe it will be cracked).

That's not to say there isn't money to be made here. For a short while.



I don't think that's necessarily true at all.  What makes you say that?  If the value stabilizes and becomes widely-accepted (imagine bumping your smartphones together to transfer funds - easier than cash with almost no fees) there's no reason why it cannot partially replace fiat currencies.

Of course it IS entirely possible that it completely busts, but if that happens don't think for a second that BTC is the last decentralized crypto-currency we will see.


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Re: Should I invest in bitcoins? [Re: VapoRs]
    #19202888 - 11/28/13 10:23 PM (10 years, 2 months ago)

If I were you, I'd invest in litecoin. It went from ~12 to 50 dollars in a day and presumably it will continue to go up just like bitcoin. These guys think so (and they made this video back when it was trading at like 3 dollars).




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Re: Should I invest in bitcoins? [Re: s240779]
    #19202919 - 11/28/13 10:32 PM (10 years, 2 months ago)

Wow. The price has increased significantly since the last post.


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Re: Should I invest in bitcoins? [Re: VapoRs]
    #19202920 - 11/28/13 10:32 PM (10 years, 2 months ago)

I don't think right now is a good time to buy them, OP.. they just skyrocketed.
They will likely continue to bubble. Rise and fall and rise again. Buy when they most likely drop again.

I'm just super pissed at myself that I sold my 20 bitcoins back when they were only worth like $5 each.

But probably not kicking myself as hard as THIS GUY


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Re: Should I invest in bitcoins? [Re: Shroomism] * 2
    #19203073 - 11/28/13 11:17 PM (10 years, 2 months ago)

everyone knows that beanie babies are the future. :rolleyes:


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Re: Should I invest in bitcoins? [Re: Shroomism]
    #19203098 - 11/28/13 11:28 PM (10 years, 2 months ago)

Quote:

Shroomism said:
But probably not kicking myself as hard as THIS GUY




Oh man I was reading about that earlier.
Could you imagine, there was 4 million bucks, even worse, 4 million pounds just sitting out there in the trash heap, that you yourself threw out.
I sit here and think man, if I bought those coins when they dropped after the silk road thing... I could have made a few hundred bucks. Then there are these people that had a crap load of bitcoins when they where worth absolutely nothing and just lost, forgot or just didn't care about them.


I could have been a millionaire. I would never have to work again.

If only I kept that wallet. :frown:


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Re: Should I invest in bitcoins? [Re: 4runner]
    #19203206 - 11/29/13 12:17 AM (10 years, 2 months ago)

It's actually 7.5 million in USD. Ouch.

I sold my bitcoins for like $100 a few years ago. I didn't think to get more.. they'd now be worth about 20k :facepalm:


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Re: Should I invest in bitcoins? [Re: Shroomism]
    #19203238 - 11/29/13 12:37 AM (10 years, 2 months ago)

eh it's only money. get over it.


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Re: Should I invest in bitcoins? [Re: Par]
    #19203251 - 11/29/13 12:43 AM (10 years, 2 months ago)

Money I could really use right about now. I am over it though.


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Re: Should I invest in bitcoins? [Re: Shroomism]
    #19203263 - 11/29/13 12:48 AM (10 years, 2 months ago)

I don't really get bitcoin mining. You are payed coins for solving algorithms with your GPU, but where do those coins that you are getting paid come from? Can't someone just create a bunch of bitcoins? Who is making the bitcoins? Where are the algorithms that need to be solved coming from?


Edited by teknix (11/29/13 01:00 AM)


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Re: Should I invest in bitcoins? [Re: teknix]
    #19203393 - 11/29/13 01:52 AM (10 years, 2 months ago)

I puchased a bitcoin recently, and will get a few more in the coming weeks. I plan to invest in the top 5 currencies, then lock my addresses away for a few years. If it goes nowhere i am out a few thousand bucks. if it goes somewhere it will probably be somewhere of great value. risk a few thousand to potentially make ~100 thousand? sure.

The technology could become mainstream, and if it does get to the point where people are bumping phones and swiping cards for coin transactions, then any age group will be able to use it, and likely will if the costs are lower than current transaction standards. Its only now gaining national attention and people are having a hard time finding an easily accessible exchange. The price will continue to trend upwards once more people are given access to purchase them. China is going crazy over the things and thats good for investors, as long as Chinas govt continues to look the other way or even endorse the currency.

This is not to say the powerful holders wont unload their positions once the price is right, make their killing and leave the market in at least temporary disarray.


--------------------
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Re: Should I invest in bitcoins? [Re: Shroomism]
    #19203605 - 11/29/13 04:44 AM (10 years, 2 months ago)

Almost got into mining when I saw the first posts here years ago. I decided that getting high and playing guitar was a better use of time. :lol:


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Offlines240779
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Re: Should I invest in bitcoins? [Re: teknix]
    #19203738 - 11/29/13 06:30 AM (10 years, 2 months ago)

Quote:

teknix said:
I don't really get bitcoin mining. You are payed coins for solving algorithms with your GPU, but where do those coins that you are getting paid come from? Can't someone just create a bunch of bitcoins? Who is making the bitcoins? Where are the algorithms that need to be solved coming from?




I guess the algorithms are multifunctional. Serving the system as a whole and generating new bitcoins.


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InvisibleDieCommie

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Re: Should I invest in bitcoins? [Re: teknix]
    #19204492 - 11/29/13 11:20 AM (10 years, 2 months ago)

.


Edited by DieCommie (11/16/16 10:26 PM)


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Re: Should I invest in bitcoins? [Re: DieCommie]
    #19204510 - 11/29/13 11:24 AM (10 years, 2 months ago)

I just bought a 7970 to start mining LTC with.  Hopefully they keep going up!


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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19204524 - 11/29/13 11:30 AM (10 years, 2 months ago)

Quote:

pwnasaurus said:
I just bought a 7970 to start mining LTC with.  Hopefully they keep going up!




Cool!  I'm mining LTC with my 5850s and 5830s that I used to mine BTC with, and I'm doing pretty well.  Im thinking about picking up a 290x or two today for mining LTC (and some gaming probably).


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Re: Should I invest in bitcoins? [Re: DieCommie]
    #19204532 - 11/29/13 11:33 AM (10 years, 2 months ago)

BTC is fine. Yes, it's gone up, but prices on the market have adjusted.

I was on Silk Road the other day (been using it for over a year successfully) and most items are in the 0.01-0.5 BTC range now.


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Re: Should I invest in bitcoins? [Re: DirtyTomFlint]
    #19204542 - 11/29/13 11:36 AM (10 years, 2 months ago)

I've been checking around and do you guys think Peer-Coin is gonna be the "bronze" to the coins?

https://www.vaultofsatoshi.com/orderbook


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Re: Should I invest in bitcoins? [Re: DieCommie]
    #19204557 - 11/29/13 11:40 AM (10 years, 2 months ago)

how long have litecoins been around then they seem like another bitcoin wich is definately getting bigger ??
would more currencies like this nake the market more stable though since there are more options to buy thN JUST btc?


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Re: Should I invest in bitcoins? [Re: DieCommie]
    #19204563 - 11/29/13 11:42 AM (10 years, 2 months ago)

Quote:

DieCommie said:
Quote:

pwnasaurus said:
I just bought a 7970 to start mining LTC with.  Hopefully they keep going up!




Cool!  I'm mining LTC with my 5850s and 5830s that I used to mine BTC with, and I'm doing pretty well.  Im thinking about picking up a 290x or two today for mining LTC (and some gaming probably).




Approximately how many litecoins can the avergae user generate rite now and how much cash would the equipment cost? Miners are basically seperate computers that are dedicated to mining, right? Do they eat up a lot of bandwidth?


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Re: Should I invest in bitcoins? [Re: s240779]
    #19204574 - 11/29/13 11:45 AM (10 years, 2 months ago)

https://litecoin.info/Mining_hardware_comparison

https://www.litecoinpool.org/calc

Those two sites together can give you a pretty good idea.


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InvisibleDieCommie

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Re: Should I invest in bitcoins? [Re: lighthouse09]
    #19204587 - 11/29/13 11:48 AM (10 years, 2 months ago)

Quote:

lighthouse09 said:
how long have litecoins been around then they seem like another bitcoin wich is definately getting bigger ??
would more currencies like this nake the market more stable though since there are more options to buy thN JUST btc?




They have been around for a while.  They are almost an exact clone of bitcoin, they use lots of the same code.  Some key differences are the scrypt algorithm for mining rather than SHA256, as I mention above.  Also, they difficulty adjusts faster and transactions confirm quicker.  This last one is very important if we ever expect to have point of sale transactions with crypto currencies.  Its fine to order online if it takes half an hour to confirm, but thats not fine if you are at a store or farmer's market.

They don't purport to be a competitor of bitcoin, rather a compliment of bitcoin.  Its hard for me to see it that way though.  It looks like a competitor to me.


Note that namecoins are now over $10!  Dont buy namecoins.  They are truly worthless in the long run.  I think, the fact that they are this high is a sign of how over speculated and bubbled the market is.  There is so much dumb money flooding into the market that even namecoin is now valuable.  I'm surprised its blockchain is being maintained at all.


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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19204591 - 11/29/13 11:50 AM (10 years, 2 months ago)

https://www.litecoinpool.org/calc?hashrate=350&difficulty=1522.6087795&power=130&energycost=0.10&currency=USD

Here's what I got, but I don't know what I'm paying for electricity exactly, I've gotta go dig up my last bill and put that in there


So LTC are basically the next largest cryptocurrency compared to BTC in terms of growth, right?

Where do you store them tho?

:strokebeard:


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InvisibleDieCommie

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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19204602 - 11/29/13 11:52 AM (10 years, 2 months ago)

Quote:

pwnasaurus said:
https://litecoin.info/Mining_hardware_comparison

https://www.litecoinpool.org/calc

Those two sites together can give you a pretty good idea.




I was about to post the same thing :p 

Let me add that if you are going to do a cost analysis you need to also look at the difficulty charts and anticipate that rising.  It will rise faster if the value of the coin increases, as you can expect.  It wont drop as fast if the value of the coin goes down though.  And also you have to consider electricity costs and your local rates.


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Re: Should I invest in bitcoins? [Re: DieCommie]
    #19204610 - 11/29/13 11:54 AM (10 years, 2 months ago)

Quote:

DieCommie said:
Quote:

pwnasaurus said:
https://litecoin.info/Mining_hardware_comparison

https://www.litecoinpool.org/calc

Those two sites together can give you a pretty good idea.




I was about to post the same thing :p 

Let me add that if you are going to do a cost analysis you need to also look at the difficulty charts and anticipate that rising.  It will rise faster if the value of the coin increases, as you can expect.  It wont drop as fast if the value of the coin goes down though.  And also you have to consider electricity costs and your local rates.



Any quick tips from shroomerite to shroomerite on how to get started with this here? I want to put my 7850 to work!


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Re: Should I invest in bitcoins? [Re: Synthe]
    #19204635 - 11/29/13 12:03 PM (10 years, 2 months ago)

yea who's got one for me i am broke but i could pay you in spores.. sounds like easy money and an excuse for me to sit around and learn computers better i can't find any clear instructions on how to start and what you need anywhere though?


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InvisibleDieCommie

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Re: Should I invest in bitcoins? [Re: Synthe]
    #19204664 - 11/29/13 12:12 PM (10 years, 2 months ago)

Quote:

Synthe said:
Any quick tips from shroomerite to shroomerite on how to get started with this here? I want to put my 7850 to work!




This is what I read when switched from mining BTC.  It might be complicated, but start with this and go for it.  You should def mine with that card if you can.

http://www.wemineltc.com/gettingstarted

Quote:

How To GPU Mine (For Beginners)
Download cgminer 3.5 version from here --> http://ck.kolivas.org/apps/cgminer/3.5 (ATTENTION! Versions higher than 3.5 do NOT support LiteCoin mining!)
Extract it somewhere (eg. on desktop)
Register your worker!! To go my account --> My workers --> Register new worker!
From the worker page, select the option to generate a .bat file for your worker
Save the batch file to the same folder that you extracted cgminer to, and make sure you edit it to your ideal settings according to your GPU ! Find your ideal settings here--> https://litecoin.info/Mining_hardware_comparison
Navigate to the folder with cgminer and the batch file, double click the batch file. You are mining LiteCoins!!

For a detailed step by step guide with screenshots visit this link ---> https://forum.litecoin.net/index.php/topic,7722.0.html




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Re: Should I invest in bitcoins? [Re: DieCommie]
    #19206187 - 11/29/13 07:49 PM (10 years, 2 months ago)

$1,200... wow... I think they will dip down to $700 or so sometime this year or early next year


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Re: Should I invest in bitcoins? [Re: SkeletalSpore]
    #19213475 - 12/01/13 03:56 PM (10 years, 1 month ago)

Quote:

SkeletalSpore said:
$1,200... wow... I think they will dip down to $700 or so sometime this year or early next year



And back down to ~$950USD - it's jumped from $900-950 in like 10 minutes. Very turbulent right now. Crazy stuff.

I just wonder what the mega banks/governments final word on it will be. I think bitcoin (and cryptocurrencies in general) have loads of potential and are 'the way of the future' - especially given how wildly inflated monetary currencies are and how many countries are in massive debt - but if governments decide to ban the use of cryptocurrency (I'm sure they could find an excuse/reason) then that could seriously compromise the value.


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Re: Should I invest in bitcoins? [Re: KGB Is Go]
    #19213479 - 12/01/13 03:57 PM (10 years, 1 month ago)

Quote:

KGB Is Go said:
Quote:

SkeletalSpore said:
$1,200... wow... I think they will dip down to $700 or so sometime this year or early next year



And back down to ~$950USD - it's jumped from $900-950 in like 10 minutes. Very turbulent right now. Crazy stuff.

I just wonder what the mega banks/governments final word on it will be. I think bitcoin (and cryptocurrencies in general) have loads of potential and are 'the way of the future' - especially given how wildly inflated monetary currencies are and how many countries are in massive debt - but if governments decide to ban the use of cryptocurrency (I'm sure they could find an excuse/reason) then that could seriously compromise the value.



It's impossible to "ban" crypto-currencies.  That would be as effective as banning pirating has been.


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Re: Should I invest in bitcoins? [Re: pwnasaurus]
    #19213720 - 12/01/13 04:58 PM (10 years, 1 month ago)

Quote:

pwnasaurus said:

It's impossible to "ban" crypto-currencies.  That would be as effective as banning pirating has been.



How is it impossible? The government says "it is illegal to use bitcoin in the USA" and enforce this - banned. I agree that lots of people would still use it and I'm sure there will always be governments willing to use cryptocurrencies so it will have some value but I think it's current value and potential for widespread use would be seriously compromised by a government action against it. Similar to the boom it experienced after it was opened up to the Chinese market, but in reverse. You don't think so?


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Re: Should I invest in bitcoins? [Re: KGB Is Go]
    #19216957 - 12/02/13 12:05 PM (10 years, 1 month ago)

So ah, how do I use cgminer to start mining in a pool? I signed up for http://ltc.kattare.com and saved cgminer 3.5 onto a folder on my desktop, but now what?


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Re: Should I invest in bitcoins? [Re: Synthe]
    #19222007 - 12/03/13 12:43 PM (10 years, 1 month ago)

Quote:

Synthe said:
So ah, how do I use cgminer to start mining in a pool? I signed up for http://ltc.kattare.com and saved cgminer 3.5 onto a folder on my desktop, but now what?



Aw, anybody? I'd really like to mine myself some LTC but I'm stumped :feelsbadman:


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Re: Should I invest in bitcoins? [Re: Synthe]
    #19222148 - 12/03/13 01:05 PM (10 years, 1 month ago)

Tip: The bitcointalk.org forum is quite active.


Edited by s240779 (12/03/13 01:40 PM)


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InvisibleDieCommie

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Re: Should I invest in bitcoins? [Re: Synthe]
    #19222834 - 12/03/13 03:35 PM (10 years, 1 month ago)

Quote:

Synthe said:
Quote:

Synthe said:
So ah, how do I use cgminer to start mining in a pool? I signed up for http://ltc.kattare.com and saved cgminer 3.5 onto a folder on my desktop, but now what?



Aw, anybody? I'd really like to mine myself some LTC but I'm stumped :feelsbadman:



Try the instructions I linked too.  Make an account at WeMineLTC, register a worker.  Create the batch file, put it in your cgminer folder and double click it.  This should start cgminer running, and hashing to your account at wemineltc.  If cgminer crashes then your settings are not correct for your video card and we need to fiddle with them.


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Re: Should I invest in bitcoins? [Re: DieCommie]
    #19222868 - 12/03/13 03:42 PM (10 years, 1 month ago)

Ah yes I tried GUIminer and a different pool, but I was only putting out 10% of the hashrate I thought I would be, and it said it "wasn't accepted"


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Re: Should I invest in bitcoins? [Re: DieCommie]
    #19223631 - 12/03/13 06:55 PM (10 years, 1 month ago)

Quote:

DieCommie said:
There is so much dumb money flooding into the market that even namecoin is now valuable. 





:wave:

:nicesmile:


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Re: Should I invest in bitcoins? [Re: memes]
    #19223722 - 12/03/13 07:12 PM (10 years, 1 month ago)

Glad to know you are there, buy up meh coins and make me a thousandaire.


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