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Invisiblechameleon303
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Registered: 10/06/09
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sold my bitcoins a little too early
    #22481741 - 11/05/15 04:16 PM (8 years, 2 months ago)

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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OfflineIISkuNkII
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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)

It happens man. Are you mining or buying your bitcoins?


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InvisibleFruitOfLife
Professional Package Handler


Registered: 05/21/12
Posts: 4,832
Re: sold my bitcoins a little too early [Re: IISkuNkII]
    #22481752 - 11/05/15 04:20 PM (8 years, 2 months ago)

I have seen the term "mining", what does that actually mean by mining for bitcoins?


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OfflineHerbologist
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Registered: 05/09/10
Posts: 7,471
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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)

Quote:

FruitOfLife said:
I have seen the term "mining", what does that actually mean by mining for bitcoins?




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Shroomery Law:  Don't piss off the leftist mods & their friends! :banhamster:


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OfflineMr. Wednesday
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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)

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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OfflineThe Moose
Alces alces


Registered: 08/31/15
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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)

Mining is basically donating your computer's processing power to solve math problems and you get coins in return.


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InvisibleDieCommie

Registered: 12/11/03
Posts: 29,258
Re: sold my bitcoins a little too early [Re: FruitOfLife] * 1
    #22481778 - 11/05/15 04:26 PM (8 years, 2 months ago)

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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InvisibleFruitOfLife
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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)

So if my computer is stupid, I dont get anything  :sad:  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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OfflineMr. Wednesday
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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)

Quote:

DieCommie said:

http://imgur.com/231wf



Bahahhaha nice man how worthwhile was that?


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OfflineThe Moose
Alces alces


Registered: 08/31/15
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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)

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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InvisibleCowb0yNeal00
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Registered: 06/05/13
Posts: 11,059
Re: sold my bitcoins a little too early [Re: The Moose]
    #22481828 - 11/05/15 04:34 PM (8 years, 2 months ago)

I've been losing my ass off sports betting with bit coins lately lol


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InvisibleDieCommie

Registered: 12/11/03
Posts: 29,258
Re: sold my bitcoins a little too early [Re: Mr. Wednesday]
    #22481830 - 11/05/15 04:35 PM (8 years, 2 months ago)

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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InvisibleDieCommie

Registered: 12/11/03
Posts: 29,258
Re: sold my bitcoins a little too early [Re: FruitOfLife]
    #22481857 - 11/05/15 04:38 PM (8 years, 2 months ago)

Quote:

FruitOfLife said:
So if my computer is stupid, I dont get anything  :sad:  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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OfflineUzziel
O_o


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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)

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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OfflineIISkuNkII
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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)

Quote:

DieCommie said:
Quote:

FruitOfLife said:
So if my computer is stupid, I dont get anything  :sad:  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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InvisibleDieCommie

Registered: 12/11/03
Posts: 29,258
Re: sold my bitcoins a little too early [Re: IISkuNkII] * 1
    #22481896 - 11/05/15 04:45 PM (8 years, 2 months ago)

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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Invisiblechameleon303
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Registered: 10/06/09
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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)

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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InvisibleAtreyu
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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)

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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OfflineSnowDaze
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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)

Damn I really wish I would have gotten into this whole Bitcoin game


--------------------
:gd_icon: If you get confused, listen to the music play :gd_icon:

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:wook: :barbershreds: :scumbagsteve:


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Invisiblechameleon303
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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)

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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InvisibleAdden
I'm a teapot
Registered: 06/04/03
Posts: 39,201
Loc: Flag
Re: sold my bitcoins a little too early [Re: DieCommie]
    #22482531 - 11/05/15 07:00 PM (8 years, 2 months ago)

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. :lol:


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OfflineBig Worm
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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)

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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InvisibleFruitOfLife
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Registered: 05/21/12
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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)

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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InvisibleDieCommie

Registered: 12/11/03
Posts: 29,258
Re: sold my bitcoins a little too early [Re: FruitOfLife]
    #22482823 - 11/05/15 08:02 PM (8 years, 2 months ago)

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.  :wink:

Like all value, it comes from what others are willing to trade for it.


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Offlinephaded
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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)

Got up to almost 500 a day and a half ago


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OfflineIISkuNkII
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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)

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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OfflineIISkuNkII
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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)

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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OfflineThe Moose
Alces alces


Registered: 08/31/15
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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)

C is also a fat felony, if you get caught, depending on where you live


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OfflineIISkuNkII
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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)

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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OfflineHerbologist
Grrratata
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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)

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! :banhamster:


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Invisiblenice1returns
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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)

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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OfflineShortknight
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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)

It simply is what the people make it. It goes up and down like a roller coaster. Lots of fluctuations.:yinyang:

:sunny:Shorty:sunny:


--------------------
Did I say it too loud? Big heart? Or a little misleading!:musicnote:


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InvisibleAdden
I'm a teapot
Registered: 06/04/03
Posts: 39,201
Loc: Flag
Re: sold my bitcoins a little too early [Re: Herbologist]
    #22486150 - 11/06/15 01:27 PM (8 years, 2 months ago)

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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InvisibleDieCommie

Registered: 12/11/03
Posts: 29,258
Re: sold my bitcoins a little too early [Re: Herbologist]
    #22486212 - 11/06/15 01:44 PM (8 years, 2 months ago)

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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InvisibleAdden
I'm a teapot
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Posts: 39,201
Loc: Flag
Re: sold my bitcoins a little too early [Re: DieCommie]
    #22486227 - 11/06/15 01:47 PM (8 years, 2 months ago)

Why you're not in some type of finance field is beyond me DC. Your posts here and in MM are :thumbup:.


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InvisibleDieCommie

Registered: 12/11/03
Posts: 29,258
Re: sold my bitcoins a little too early [Re: Adden] * 1
    #22486257 - 11/06/15 01:53 PM (8 years, 2 months ago)

I mad a terrible life decision and studied physics...  :crazy:

:einstein:


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InvisibleAdden
I'm a teapot
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Loc: Flag
Re: sold my bitcoins a little too early [Re: DieCommie]
    #22486293 - 11/06/15 02:02 PM (8 years, 2 months ago)

I made a terrible life decision getting an MA in Comparative Literature before becoming a teacher/prof. :picard:

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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Invisiblepsi
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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)

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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Invisibleevenbreak
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Registered: 01/16/11
Posts: 583
Re: sold my bitcoins a little too early [Re: psi]
    #22486421 - 11/06/15 02:30 PM (8 years, 2 months ago)

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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InvisibleAdden
I'm a teapot
Registered: 06/04/03
Posts: 39,201
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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)

This isn't the place for that.


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InvisibleDieCommie

Registered: 12/11/03
Posts: 29,258
Re: sold my bitcoins a little too early [Re: evenbreak]
    #22487910 - 11/06/15 07:28 PM (8 years, 2 months ago)

Quote:

evenbreak said:
anyone want to buy my bitcoins i have .12 lol




$1?



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