Bitcoin thread

PolishSausage

PolishSausage

New member
Not sure if any of you have heard about it.
It's essentially an electronic currency which allows you to make transactions anonymously. Which is great for people wanting to sell contraband and illegal materials.
There is much to read about on it. This wiki is good for beginners.
https://en.bitcoin.it/wiki/Main_Page

To view the trading prices, you can check out this interactive live chart
http://bitcoin.clarkmoody.com/

It's the money of the future, "An increase in the value of bitcoin, the world’s largest online currency, may fuel concerns that virtual money could undermine the role of central banks. "
http://www.bloomberg.com/news/2013-...l-central-bank-concerns-chart-of-the-day.html

Who else has some? Do any of you have mining rigs?

Anyways, I have a shit ton of it for sale if any one is interested in purchasing. The trading price hit a new high this week at +18$




VKoI88S.jpg
 
started looking into it. But not to familiar yet with all of it and all the fun stuff we can find via the torproject. I may have some questions for you depending on your willingness to share info.
 
PolishSausage said:
money is useful because...
Click to expand...

How is this money? Unless you're going to be selling organs and ak-47s online.

When this whole thing started, I looked into it and did not really get the point of it. I mean...How are you converting bitcoins into money? Why would you buy bitcoins?
 
Everywhere I look it says mining is not profitable anymore... Is this really the currency of the future? or is that just what everyone thought 10 years ago?

I've got a couple old pc's that are far superior than the typical mining rigs mentioned, And I'm always down to make free money with no effort.
 
El Maestro said:
And this is useful because?
Click to expand...


You are missing the point. bitcoin is about being able to instantly transfer funds
- without having to pay enormous fees
- without having to worry about fraud or currency debasement
- without having to ask anyone for permission
- without being obligated to identify yourself

transfer any amount of wealth to anyone, anywhere, anytime
 
PolishSausage said:
You are missing the point. bitcoin is about being able to instantly transfer funds
- without having to pay enormous fees
- without having to worry about fraud or currency debasement
- without having to ask anyone for permission
- without being obligated to identify yourself

transfer any amount of wealth to anyone, anywhere, anytime
Click to expand...

Let's say I have 2000 bitcoins. What do you do with that? How do you turn those 2000 bitcoins into cash in your pocket?
 
just tried the mining test on my main pc. I'm doing about 55MHps... I have no clue how good/bad that is. Should I try mining, or is it a waste of time?
 
Le Jour said:
just tried the mining test on my main pc. I'm doing about 55MHps... I have no clue how good/bad that is. Should I try mining, or is it a waste of time?
Click to expand...

From what I remember, you need a big pool of people to be mining together to make it worth it.
 
El Maestro said:
How is this money? Unless you're going to be selling organs and ak-47s online.

When this whole thing started, I looked into it and did not really get the point of it. I mean...How are you converting bitcoins into money? Why would you buy bitcoins?
Click to expand...

this is an electronic currency. there are many other ones such a PPCoins. There are also several marketplaces online to buy things. not as widely available, but they will slowly come.
The point is to keep a hold of them as if you were playing on a stock market. What I do is day trade, buying and selling bitcoins.

Later you can sell them for canadian currency on a exchange if you wish.
https://www.cavirtex.com/home
https://en.bitcoin.it/wiki/Selling_bitcoins

Why would you buy bitcoins?
quick money i guess. i bought a bunch at a low price, sold high, market dropped again, bought it, now its at 19$... since it's at it's infancy, there is potential for great gains.
 
PolishSausage said:
this is an electronic currency. there are many other ones such a PPCoins. There are also several marketplaces online to buy things. not as widely available, but they will slowly come.
The point is to keep a hold of them as if you were playing on a stock market. What I do is day trade, buying and selling bitcoins.

Later you can sell them for canadian currency on a exchange if you wish.
https://www.cavirtex.com/home
https://en.bitcoin.it/wiki/Selling_bitcoins

Why would you buy bitcoins?
quick money i guess. i bought a bunch at a low price, sold high, market dropped again, bought it, now its at 19$... since it's at it's infancy, there is potential for great gains.
Click to expand...

Why not just generate them instead of buying them?
 
Le Jour said:
just tried the mining test on my main pc. I'm doing about 55MHps... I have no clue how good/bad that is. Should I try mining, or is it a waste of time?
Click to expand...

El Maestro said:
From what I remember, you need a big pool of people to be mining together to make it worth it.
Click to expand...



probably not the best time to jump in to the mining business. We might be getting ASICs soon. If that happens, all old mining equipment will be obsolete within a couple of weeks. Take any money you would be willing to spend on mining equipment and buy to hold bitcoins.

more details on ASIC:

Bitcoin Mining Hardware - ASIC Bitcoin Miner - Butterfly Labs

Custom Chips Could Be the Shovels in a Bitcoin Gold Rush as Enthusiasts Design ASICs to Mine the Cryptocurrency Faster | MIT Technology Review
 
gaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaay. I just wasted an hour to figure out that this shit is a waste of time. fuck. Better off dumping money into the fond ftq
 
You must log in or register to reply here.
Back
Top