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chameleon303



Registered: 10/06/09
Posts: 1,703
Loc: Arcane Sanctuary
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sold my bitcoins a little too early
#22481741 - 11/05/15 04:16 PM (8 years, 2 months ago) |
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i sold them 2 weeks ago after seeing them at a profit after they dipped and rose a little, worried they would would plummit again but no they rocketed and would of made 6 times the ammount i did grr!
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IISkuNkII



Registered: 04/01/13
Posts: 7,784
Loc:
Last seen: 7 years, 8 months
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Re: sold my bitcoins a little too early [Re: chameleon303]
#22481748 - 11/05/15 04:19 PM (8 years, 2 months ago) |
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It happens man. Are you mining or buying your bitcoins?
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FruitOfLife
Professional Package Handler


Registered: 05/21/12
Posts: 4,832
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Re: sold my bitcoins a little too early [Re: IISkuNkII]
#22481752 - 11/05/15 04:20 PM (8 years, 2 months ago) |
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I have seen the term "mining", what does that actually mean by mining for bitcoins?
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Herbologist
Grrratata


Registered: 05/09/10
Posts: 7,471
Loc: Casa Bonita
Last seen: 3 years, 1 month
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Re: sold my bitcoins a little too early [Re: FruitOfLife]
#22481760 - 11/05/15 04:23 PM (8 years, 2 months ago) |
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Quote:
FruitOfLife said: I have seen the term "mining", what does that actually mean by mining for bitcoins?
-------------------- Shroomery Law: Don't piss off the leftist mods & their friends!
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Mr. Wednesday
ODIN THE ALLFATHER


Registered: 10/02/15
Posts: 2,223
Last seen: 7 years, 8 months
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Re: sold my bitcoins a little too early [Re: chameleon303]
#22481761 - 11/05/15 04:23 PM (8 years, 2 months ago) |
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I bought 50 dollars worth like 2 weeks ago then stupidly sent them to a local wallet on my computer since I didn't know shit about bitcoin.
Apparently that wallet is like 3 years behind and I gotta download a bunch of bullshit. So I just cut it as a loss.
But fuck looking at the price of bitcoin right now it's 100 dollars more than when I bought it. Now I actually just might go through the trouble of getting those back.
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The Moose
Alces alces


Registered: 08/31/15
Posts: 2,389
Last seen: 1 year, 10 months
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Re: sold my bitcoins a little too early [Re: FruitOfLife] 4
#22481769 - 11/05/15 04:24 PM (8 years, 2 months ago) |
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Mining is basically donating your computer's processing power to solve math problems and you get coins in return.
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DieCommie

Registered: 12/11/03
Posts: 29,258
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Re: sold my bitcoins a little too early [Re: FruitOfLife] 1
#22481778 - 11/05/15 04:26 PM (8 years, 2 months ago) |
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Quote:
FruitOfLife said: I have seen the term "mining", what does that actually mean by mining for bitcoins?
Its how you get "new" bitcoins that are just coming into circulation. New bitcoins come out for circulation regularly and they way to get them is to solve a mathematical problem with your computer. The problem is really hard so basically your computer has to keep guessing over and over again. If you guess correctly, you get the bitcoins. I mined for profit for nearly 3 years.
http://imgur.com/231wf
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FruitOfLife
Professional Package Handler


Registered: 05/21/12
Posts: 4,832
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Re: sold my bitcoins a little too early [Re: DieCommie] 2
#22481795 - 11/05/15 04:29 PM (8 years, 2 months ago) |
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So if my computer is stupid, I dont get anything And I have to look on as you people with smart computers get to ride around with your "My computer is an honor student at bitcoin high" bumper sticker? Fuck that
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Mr. Wednesday
ODIN THE ALLFATHER


Registered: 10/02/15
Posts: 2,223
Last seen: 7 years, 8 months
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Re: sold my bitcoins a little too early [Re: DieCommie]
#22481804 - 11/05/15 04:30 PM (8 years, 2 months ago) |
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Quote:
DieCommie said:
http://imgur.com/231wf
Bahahhaha nice man how worthwhile was that?
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The Moose
Alces alces


Registered: 08/31/15
Posts: 2,389
Last seen: 1 year, 10 months
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Re: sold my bitcoins a little too early [Re: FruitOfLife]
#22481806 - 11/05/15 04:31 PM (8 years, 2 months ago) |
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It was much easier a few years ago when btc was first introduced. As time goes on the value to mining continues to decrease since more coins are in circulation.
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Cowb0yNeal00



Registered: 06/05/13
Posts: 11,059
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Re: sold my bitcoins a little too early [Re: The Moose]
#22481828 - 11/05/15 04:34 PM (8 years, 2 months ago) |
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I've been losing my ass off sports betting with bit coins lately lol
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DieCommie

Registered: 12/11/03
Posts: 29,258
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Re: sold my bitcoins a little too early [Re: Mr. Wednesday]
#22481830 - 11/05/15 04:35 PM (8 years, 2 months ago) |
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Quote:
Lord Magus Medivh said:
Quote:
DieCommie said:
http://imgur.com/231wf
Bahahhaha nice man how worthwhile was that?
Very. It was my primary source of income.
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DieCommie

Registered: 12/11/03
Posts: 29,258
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Re: sold my bitcoins a little too early [Re: FruitOfLife]
#22481857 - 11/05/15 04:38 PM (8 years, 2 months ago) |
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Quote:
FruitOfLife said: So if my computer is stupid, I dont get anything And I have to look on as you people with smart computers get to ride around with your "My computer is an honor student at bitcoin high" bumper sticker? Fuck that
No personal home computer can do it profitably anymore. Now chips specifically designed for bitcoin mining are used. I ran some of them for a while too, but the profits kept shrinking. I haven't mined in about a year and a half.
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Uzziel
O_o


Registered: 12/30/10
Posts: 11,689
Last seen: 4 years, 1 month
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Re: sold my bitcoins a little too early [Re: DieCommie]
#22481863 - 11/05/15 04:39 PM (8 years, 2 months ago) |
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Yeah, I saw a small documentary about bitcoin mining, especially in china.
They've got warehouses of just chips for mining. It's nuts.
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IISkuNkII



Registered: 04/01/13
Posts: 7,784
Loc:
Last seen: 7 years, 8 months
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Re: sold my bitcoins a little too early [Re: DieCommie]
#22481882 - 11/05/15 04:43 PM (8 years, 2 months ago) |
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Quote:
DieCommie said:
Quote:
FruitOfLife said: So if my computer is stupid, I dont get anything And I have to look on as you people with smart computers get to ride around with your "My computer is an honor student at bitcoin high" bumper sticker? Fuck that
No personal home computer can do it profitably anymore. Now chips specifically designed for bitcoin mining are used. I ran some of them for a while too, but the profits kept shrinking. I haven't mined in about a year and a half.
What miners were you running back then? Bitcoin mining via botnets are the way to go nowadays.
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DieCommie

Registered: 12/11/03
Posts: 29,258
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Re: sold my bitcoins a little too early [Re: IISkuNkII] 1
#22481896 - 11/05/15 04:45 PM (8 years, 2 months ago) |
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The picture above is comprised of 5830s and 5850s. I also used BitForce Single FPGAs, R9 290s for script mining and AntMiner ASICS.
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chameleon303



Registered: 10/06/09
Posts: 1,703
Loc: Arcane Sanctuary
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Re: sold my bitcoins a little too early [Re: IISkuNkII]
#22482017 - 11/05/15 05:12 PM (8 years, 2 months ago) |
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Quote:
IISkuNkII said: It happens man. Are you mining or buying your bitcoins?
i was buying them on localbitcoins checking the dates every day or so, had £500 tied up and made a mere 50 and would of been 300 ish... grrr sickening, and now i know what mining is i may give it a try
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Atreyu
Never Ending


Registered: 03/18/14
Posts: 4,083
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Re: sold my bitcoins a little too early [Re: chameleon303]
#22482174 - 11/05/15 05:50 PM (8 years, 2 months ago) |
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Unless you have a really proper gpu setup and a bunch of other stuff, The amount of power/energy it takes to mine btc isn't worth it and won't pay off, you might at the very best break even but would be more likely to loose money..
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つ ◕_◕ ༽つ N = R* • fp • ne • fl • fi • fc • L
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SnowDaze
Probably Relapsing on Heroin



Registered: 02/24/13
Posts: 5,996
Loc: Home, Home Again....
Last seen: 5 months, 12 days
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Re: sold my bitcoins a little too early [Re: Atreyu]
#22482187 - 11/05/15 05:54 PM (8 years, 2 months ago) |
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Damn I really wish I would have gotten into this whole Bitcoin game
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If you get confused, listen to the music play
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chameleon303



Registered: 10/06/09
Posts: 1,703
Loc: Arcane Sanctuary
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Re: sold my bitcoins a little too early [Re: SnowDaze]
#22482211 - 11/05/15 05:59 PM (8 years, 2 months ago) |
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oh it's bad then... well im up more or less not counting being ripped off recently so can just wait till they go down again and start over
Quote:
SnowDaze said: Damn I really wish I would have gotten into this whole Bitcoin game
nothing stopping you doing what i did...get a local bitcoins account and you're good to go, you do need to do several id verifications which put me off initally, like in bttf when marty gets scammed by needles, i was wating for a loud voice to boom out McFrrrry after sending my drivers licence pic
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