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Adden

Registered: 06/04/03
Posts: 39,201
Loc:
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Re: sold my bitcoins a little too early [Re: DieCommie]
#22482531 - 11/05/15 07:00 PM (8 years, 2 months ago) |
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Quote:
DieCommie said:
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
Weird dude, I was thinking of the bitcoins you mined in the past and it's funny to see the same setup.
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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: sold my bitcoins a little too early [Re: Adden]
#22482698 - 11/05/15 07:27 PM (8 years, 2 months ago) |
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Crazy.
BTC has went from about $245 last time I checked to $368 right now.
I didn't think i'd see a rise. I thought BTC stabilized to some degree. It has been hovering around $250 for some time now. Except for now.
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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: Big Worm]
#22482813 - 11/05/15 08:00 PM (8 years, 2 months ago) |
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How can bitcoins gain value? And how did they even com into existance? Did someone randomly make a certain amount and declare them a currency?
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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]
#22482823 - 11/05/15 08:02 PM (8 years, 2 months ago) |
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Quote:
FruitOfLife said: How can bitcoins gain value? And how did they even com into existance? Did someone randomly make a certain amount and declare them a currency?
Yes, that is what currency is. 
Like all value, it comes from what others are willing to trade for it.
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phaded
Wu Li


Registered: 02/03/12
Posts: 1,564
Last seen: 7 months, 5 days
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Re: sold my bitcoins a little too early [Re: Big Worm]
#22482828 - 11/05/15 08:03 PM (8 years, 2 months ago) |
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Got up to almost 500 a day and a half ago
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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: FruitOfLife]
#22482829 - 11/05/15 08:03 PM (8 years, 2 months ago) |
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Because it's not a controlled currency such as the U.S dollar. Also the darknets have alot to do with it gaining IMOb
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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]
#22482846 - 11/05/15 08:06 PM (8 years, 2 months ago) |
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When i first signed up here there was a guy who's dad was a banker.His son realized the oppurtunity (like a stock market)and got his dad to invest. They cashed out at either $90,000 or $900,000 i dont quite remember. It can still be worth the oppurtunity if A: you can afford a couple of them now or B:you wait till it drops which could take time or C: start up a massive botnet. Option C is actually easy and requires no money, only time and patience and alittle reading. You won't specifically be mining bitcoins although you can, im referring to tageting bitcoin wallets.Although you can mine for bitcoins with said botnet.
Edited by IISkuNkII (11/05/15 08:22 PM)
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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: IISkuNkII] 1
#22483549 - 11/05/15 10:18 PM (8 years, 2 months ago) |
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C is also a fat felony, if you get caught, depending on where you live
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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: The Moose]
#22483566 - 11/05/15 10:21 PM (8 years, 2 months ago) |
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Rewards can be higher and quicker that way.Most people don't even use a secure wallet and hide their credentials in obvious spots. Indeed it is a felony.
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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]
#22484969 - 11/06/15 08:56 AM (8 years, 2 months ago) |
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Quote:
FruitOfLife said: How can bitcoins gain value? And how did they even com into existance? Did someone randomly make a certain amount and declare them a currency?
Yeah, I don't understand this either.
It's all virtual, there is nothing tangible about bit coins. So I don't get it.
-------------------- Shroomery Law: Don't piss off the leftist mods & their friends!
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nice1returns
I am the Holy Shit



Registered: 09/04/14
Posts: 2,303
Loc: miwuaki
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Re: sold my bitcoins a little too early [Re: chameleon303]
#22485180 - 11/06/15 09:48 AM (8 years, 2 months ago) |
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Yeah welcome to the club, when I bought mine they were worth 5er each I blew them on some garbage on silk road and a year later they were worth 500 each.
I could of retired.
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Shortknight



Registered: 02/25/13
Posts: 2,164
Last seen: 6 years, 5 months
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Re: sold my bitcoins a little too early [Re: Herbologist]
#22485182 - 11/06/15 09:49 AM (8 years, 2 months ago) |
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It simply is what the people make it. It goes up and down like a roller coaster. Lots of fluctuations.
Shorty
-------------------- Did I say it too loud? Big heart? Or a little misleading!
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Adden

Registered: 06/04/03
Posts: 39,201
Loc:
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Re: sold my bitcoins a little too early [Re: Herbologist]
#22486150 - 11/06/15 01:27 PM (8 years, 2 months ago) |
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Quote:
Herbologist said:
Quote:
FruitOfLife said: How can bitcoins gain value? And how did they even com into existance? Did someone randomly make a certain amount and declare them a currency?
Yeah, I don't understand this either.
It's all virtual, there is nothing tangible about bit coins. So I don't get it.
The United States isn't on a gold standard They print money left and right.
If it's backed by anything, it is the US military and the oil wars. We just happen to have the international oil currency, which is why China banking and Russian oil pipelines scare us.
It's all about who has the most of what tbh.
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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: Herbologist]
#22486212 - 11/06/15 01:44 PM (8 years, 2 months ago) |
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Quote:
Herbologist said:
Quote:
FruitOfLife said: How can bitcoins gain value? And how did they even com into existance? Did someone randomly make a certain amount and declare them a currency?
Yeah, I don't understand this either.
It's all virtual, there is nothing tangible about bit coins. So I don't get it.
With bicoins you have the power to get drugs, gold and virtually any other commodity delivered to your door. Tangibility is irrelevent. They are able to be traded for goods and resources - that makes them valuable.
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Adden

Registered: 06/04/03
Posts: 39,201
Loc:
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Re: sold my bitcoins a little too early [Re: DieCommie]
#22486227 - 11/06/15 01:47 PM (8 years, 2 months ago) |
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Why you're not in some type of finance field is beyond me DC. Your posts here and in MM are .
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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: Adden] 1
#22486257 - 11/06/15 01:53 PM (8 years, 2 months ago) |
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I mad a terrible life decision and studied physics... 
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Adden

Registered: 06/04/03
Posts: 39,201
Loc:
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Re: sold my bitcoins a little too early [Re: DieCommie]
#22486293 - 11/06/15 02:02 PM (8 years, 2 months ago) |
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I made a terrible life decision getting an MA in Comparative Literature before becoming a teacher/prof. 
Should've stuck with Public Relations / Communications. At least with that I had ten years work experience and multiple professional recommendations...
Unfortunately in 2008-2009, they cut nearly 75 full time staffers and that cake university job went out the window. Worst yet, it was on the table =/
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psi
TOAST N' JAM


Registered: 09/05/99
Posts: 31,456
Loc: 613
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Re: sold my bitcoins a little too early [Re: chameleon303] 1
#22486358 - 11/06/15 02:17 PM (8 years, 2 months ago) |
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I mined for a little while with a single 5830 when prices were around $10-20. Should have hung on to what I mined but didn't, oh well. Instead of just recouping the purchase price of the card I could have made a lot more. Fuck it though.
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evenbreak
Stranger
Registered: 01/16/11
Posts: 583
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Re: sold my bitcoins a little too early [Re: psi]
#22486421 - 11/06/15 02:30 PM (8 years, 2 months ago) |
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anyone want to buy my bitcoins i have .12 lol
-------------------- It has been reported that some victims of torture, during the act, would retreat into a fantasy world from which they could not wake up. In this catatonic state, the victim lived in a world just like their normal one, except they weren’t being tortured. The only way that they realized they needed to wake up was a note they found in their fantasy world. It would tell them about their condition, and tell them to wake up. Even then, it would often take months until they were ready to discard their fantasy world and please wake up.
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Adden

Registered: 06/04/03
Posts: 39,201
Loc:
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Re: sold my bitcoins a little too early [Re: evenbreak]
#22486423 - 11/06/15 02:30 PM (8 years, 2 months ago) |
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This isn't the place for that.
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