What do you guys think about bitcoin?

[CosmicCowboy]

It's a pretty interesting concept.

[CosmicCowboy]

No opinions? it actually looks like digital currency is going to break through and go mainstream. It has certainly had it's ups and downs as regulators stomped on some of the original entrepreneurs but it is now getting Wall Streets attention. At 1 bitcoin to $242 today it's an interesting speculative investment.

[TeyshaBlue]

I dont unserstand the valuation methodology enough to form an opinion....that and the whole mining thing.

[CosmicCowboy]

I think the mining thing is past history. It's reached critical mass where ROI is pretty slim.

[ElNono]

It's an interesting concept, but his main sell was anonymity, and and we all know by know there's no such thing. The blockchain can be traced back.

The math behind it is solid, as long as we don't find a quicker way to solve the discrete logarithm problem of elliptic curves. Unfortunately, that's exactly what Shor's algorithm for quantum computers does, so as soon as you can have a multiple qubit quantum system, bitcoin is in peril (same with RSA encyrption, BTW).

You should also look at the weaknesses before investing:
https://en.bitcoin.it/wiki/Weaknesses

[m>s]

I dont unserstand the valuation methodology enough to form an opinion....that and the whole mining thing.
it's just a floating currency, value is derived from whatever some retards will pay for it. it already took a giant dump and lost legitimacy, don't listen to anyone trying to sell you bitcoin. it probably had potential at one point until governments squashed it. i'm pretty sure china banned it IIRC. you really think governments are going to allow competition against their fiat currencies? it'll probably still hold a little value among NEETs using it to trade goods on the black market that's about it.

[Wild Cobra]

It's a pretty interesting concept.

Don't you mean bit-con?

[angrydude]

You're about 2 years late with this thread.

[ElNono]

I dont unserstand the valuation methodology enough to form an opinion....that and the whole mining thing.

The concept behind mining is basically control inflation algorithmically. It's a math function that gets harder and harder to resolve over time. In the beginning, mining gave a big yield, and that's by design: when you have a new currency, you want to spread it around. Over time, once the currency is established, it gets more difficult to do emission. In that sense, currency emission and thus inflation is fixed at a certain rate (provided by the math function and computing power). As such, it provides a much more longer term certainty than any government manipulating the currency value.

[baseline bum]

I feel bad for AMD, they got boned last year when people found out their GPUs were great for generating LiteCoins. Miners started buying up all the high end AMD GPUs so the prices shot up to hell, like a $500 R9 290x went up to $900, a $400 R9 290 to $700, and at those prices might as well buy a GTX 780 or GTX 780 Ti instead from Nvidia. So despite having awesome gaming GPUs they couldn't get them into the hands of gamers who might have some brand loyalty after using such a great GPU. And then the miners dumped them at fire-sale prices this fall once LiteCoin was no longer profitable to generate on GPUs (now you need special purpose low power mining computers to get anywhere). And of course these GPUs are unreliable, always have fans failing and shit, thanks to running balls to the wall generating LiteCoins for months on end 24/7. So the prices of their top GPUs, the 280x, 290, and 290x, dropped like hell. Warranty service must have cost them huge too with people running them at 100% 24/7 for months.

[CosmicCowboy]

You're about 2 years late with this thread.

Instead of being snide why don't you expound on your theory?

Oh, I realize the techies that got in on the ground floor mining originally had exponential profits if they held...I just see it starting to turn the corner to mainstream acceptance and it is over half way to it's 21 billion cap and should reach there in a couple of years with it's current growth. It's currently way down from it's highs but it doesn't seem likely to go to zero since there are big players getting into it...Litecoin is interesting too at it's current sub $2 valuation. I like to gamble for fun with a reasonable percentage of my income. I'm also currently looking at a beat down silver mining stock that seems irrationally low. Keeps life interesting.

[m>s]

^gambling is exactly what you'd be doing with shitcoin. just research and find some good companies that look undervalued if you have extra money to play with.

[2centsworth]

You should be bankrupt by now since you bet the farm and shorted treasuries when Obama took office.

[CosmicCowboy]

You should be bankrupt by now since you bet the farm and shorted treasuries when Obama took office.

I get some of the strangest replies in here. I never shorted treasuries. If I had been interested in Treasuries as an investment I would have been buying treasuries instead as any idiot could see that the Fed was going to artificially drive interest down to stimulate the economy which would increase to value of existing higher interest rate paper.

[cantthinkofanything]

I get some of the strangest replies in here. I never shorted treasuries. If I had been interested in Treasuries as an investment I would have been buying treasuries instead as any idiot could see that the Fed was going to artificially drive interest down to stimulate the economy which would increase to value of existing higher interest rate paper.

you need to post that picture where you're holding those hundred dollar bills again.

[boutons_deux]

Former U.S. agents charged for Bitcoin theft during black market probehttp://www.reuters.com/article/2015/03/30/us-usa-justice-bitcoin-theft-idUSKBN0MQ1UF20150330?feedType=RSS&feedName=domesticNews

cryptocurrency? "a fool and his money are soon parted"

[CosmicCowboy]

you need to post that picture where you're holding those hundred dollar bills again.

LOL that was a fun rebuttal to Koolaid posting a picture of one. You need to get some Preparation H for that butthurt.

[cantthinkofanything]

LOL that was a fun rebuttal to Koolaid posting a picture of one. You need to get some Preparation H for that butthurt.

LOL. Yes, that was fun! But you remember it much differently than reality.

[DMC]

It's an interesting concept, but his main sell was anonymity, and and we all know by know there's no such thing. The blockchain can be traced back.

The math behind it is solid, as long as we don't find a quicker way to solve the discrete logarithm problem of elliptic curves. Unfortunately, that's exactly what Shor's algorithm for quantum computers does, so as soon as you can have a multiple qubit quantum system, bitcoin is in peril (same with RSA encyrption, BTW).

You should also look at the weaknesses before investing:
https://en.bitcoin.it/wiki/Weaknesses

Took the words right out of my mouth.

[ElNono]

Took the words right out of my mouth.

:lol

[2centsworth]

I get some of the strangest replies in here. I never shorted treasuries. If I had been interested in Treasuries as an investment I would have been buying treasuries instead as any idiot could see that the Fed was going to artificially drive interest down to stimulate the economy which would increase to value of existing higher interest rate paper.

I recall several years ago you argued the government was printing money and it would create hyperinflation so you were going to bet the farm against treasuries. Doesn't matter, most Republicans, except the true haters, are trying to back peddle from their hyperinflation predictions.

[boutons_deux]

"back peddle from their hyperinflation predictions."

Repugs are always wrong on everything, always lying

hyperinflation from QE? :lol

hyperfinflaton from Obama's stimulus? :lol

ACA would DESTROY America? :lol

Fix The Debt? :lol

Ebola and ISIS were coming to kill us all? :lol

voter suppression to protect the sanctity of the vote? :lol

You right-wingers, Repugs, tea bagger are so full of shit

[CosmicCowboy]

I recall several years ago you argued the government was printing money and it would create hyperinflation so you were going to bet the farm against treasuries. Doesn't matter, most Republicans, except the true haters, are trying to back peddle from their hyperinflation predictions.

You have me confused with someone else, however I do think it is foolish to completely discount the possibility of inflation in a ten year window considering the massive amount of worldwide monetary easement. Yeah, they are concerned short term with stagnation and potential deflation but central banks are notorious for overshooting adjustments.

I believe I HAVE stated that I think long term interest rates will work perfectly for me at my age and allow me to borrow hundreds of thousands of dollars now to build net worth in a low interest environment and then cash out assets later in a higher interest environment at a point in my life where I can adjust my investment mix into high yield paper for retirement.

This may be what you were thinking about.

[angrydude]

Instead of being snide why don't you expound on your theory?

Oh, I realize the techies that got in on the ground floor mining originally had exponential profits if they held...I just see it starting to turn the corner to mainstream acceptance and it is over half way to it's 21 billion cap and should reach there in a couple of years with it's current growth. It's currently way down from it's highs but it doesn't seem likely to go to zero since there are big players getting into it...Litecoin is interesting too at it's current sub $2 valuation. I like to gamble for fun with a reasonable percentage of my income. I'm also currently looking at a beat down silver mining stock that seems irrationally low. Keeps life interesting.

Bitcoin isn't a currency. It's a payment system. And not a very good one at that. It's also not anonymous. As for why you're too late, the bubble already burst. It's going nowhere fast.

[angrydude]

"back peddle from their hyperinflation predictions."

Repugs are always wrong on everything, always lying

hyperinflation from QE? :lol

hyperfinflaton from Obama's stimulus? :lol

ACA would DESTROY America? :lol

Fix The Debt? :lol

Ebola and ISIS were coming to kill us all? :lol

voter suppression to protect the sanctity of the vote? :lol

You right-wingers, Repugs, tea bagger are so full of shit




lol @ not understanding how inflation works. The rich (those closest connected to the FED) get the money first. That's how they steal from you and that's why it's immoral.

http://www.bloomberg.com/news/articles/2015-03-26/u-s-home-prices-are-surging-13-times-faster-than-wages
http://www.sfgate.com/technology/businessinsider/article/It-s-so-hard-to-get-a-hotel-for-Salesforce-s-big-6171649.php
http://nypost.com/2015/02/18/nycs-most-expensive-1-br-rental-is-300kmonth/
http://nypost.com/2015/02/19/vice-ceo-shane-smith-splurged-on-300000-dinner-in-las-vegas/

[2centsworth]

You have me confused with someone else, however I do think it is foolish to completely discount the possibility of inflation in a ten year window considering the massive amount of worldwide monetary easement. Yeah, they are concerned short term with stagnation and potential deflation but central banks are notorious for overshooting adjustments.

I believe I HAVE stated that I think long term interest rates will work perfectly for me at my age and allow me to borrow hundreds of thousands of dollars now to build net worth in a low interest environment and then cash out assets later in a higher interest environment at a point in my life where I can adjust my investment mix into high yield paper for retirement.

This may be what you were thinking about.
No, God blessed me with the memory of an elephant. I'm just glad you're not looney calling for the end of the US dollar and the next depression. Unfortunately, about 30% of republicans actually believe that nonsense and are calling for a balance budget amendment to fix God knows what.

[m>s]

lol I dunno maybe to fix the budget deficit? Oh that's right it can go on indefinitely

[boutons_deux]

lol @ not understanding how inflation works. The rich (those closest connected to the FED) get the money first. That's how they steal from you and that's why it's immoral.

http://www.bloomberg.com/news/articles/2015-03-26/u-s-home-prices-are-surging-13-times-faster-than-wages
http://www.sfgate.com/technology/businessinsider/article/It-s-so-hard-to-get-a-hotel-for-Salesforce-s-big-6171649.php
http://nypost.com/2015/02/18/nycs-most-expensive-1-br-rental-is-300kmonth/
http://nypost.com/2015/02/19/vice-ceo-shane-smith-splurged-on-300000-dinner-in-las-vegas/

I understand inflation, do you understand the difference between cost-push, and demand-pull inflation?

[Nbadan]

The Greek people learn how to protect their money - Bitcoin!

http://business.financialpost.com/investing/bitcoin-is-the-real-winner-in-greece-crisis


The virtual currency has been steadily climbing this month as talks have broken down between Greece and its creditors. Invented six years ago as an alternative to fiat currencies, Bitcoin has now climbed nearly 10 per cent in the past few days. On Wednesday, the value of one bitcoin rose 1.54 per cent, or US$3.86, to US$254.76.

The main driver for bitcoin prices seem to be Greek buyers. Joshua Scigala, co-founder of Vaultoro.com, told Reuters this week that his company has seen a 124 per cent pick up in web hits from Greek IP addresses

[RandomGuy]

It's a pretty interesting concept.

Hard to tell at this point. My take is that it is the way money is going to go. There is a lot of forces pushing in that direction.

Here is a good article:
http://arstechnica.com/business/2015/06/how-silicon-valley-and-wall-street-arrived-at-a-new-gold-rush-called-bitcoin/

[RandomGuy]

You have me confused with someone else, however I do think it is foolish to completely discount the possibility of inflation in a ten year window considering the massive amount of worldwide monetary easement. Yeah, they are concerned short term with stagnation and potential deflation but central banks are notorious for overshooting adjustments.

I believe I HAVE stated that I think long term interest rates will work perfectly for me at my age and allow me to borrow hundreds of thousands of dollars now to build net worth in a low interest environment and then cash out assets later in a higher interest environment at a point in my life where I can adjust my investment mix into high yield paper for retirement.

This may be what you were thinking about.

Probably a good strategy. Africa, despite what many think, will find its way out of the corrupt mire that many nations there find themselves in.

Once that happens you will see a lot of change, and some inflationary pressures as the mass of humanity there betters its condition, and starts moving up the energy usage chain, as they are doing now.

[RandomGuy]

Lastly, I would point out that the big banks are starting to research a bitcoin-like technology. Still trying to find the article.

Found this though, a Price Waterhouse Coopers report.

https://www.pwc.com/en_IM/IM/publications/assets/banking/pwc_virtual_currencies_risk_opportunities.pdf

A year old, but something to read on my next lunch hour. Seems to have a lot of depth and treated very intelligently.

[RandomGuy]

Bitcoin isn't a currency. It's a payment system.

Think about those two sentences. When you get it... you will shit bricks.

http://cdn.skincaretalk.com/b/b7/b78cc71f_z3450_mind-blown.jpeg

[Winehole23]

http://www.cnbc.com/2015/09/18/bitcoin-now-classed-as-a-commodity-in-the-us.html

[Winehole23]

http://www.bbc.com/news/technology-34278163

[m>s]

Bitcoin is still shit but I wish I would've known it would've become so popular at its peak. A lot of nobodies because millionaires overnight off that scheme.

[Winehole23]

don't know if you clicked the links, but the biggest banks in the world just hopped on board and it's officially a US commodity.

[admiralsnackbar]

don't know if you clicked the links, but the biggest banks in the world just hopped on board and it's officially a US commodity. I know I should be shocked and dismayed by this, but I guess anything is a commodity if there is a market to vest it with value, and any bank will always recognize and trade any recognizeable, tradeable asset. That's what they do. Bitcoin is a bit of a banker's wet-dream in that it is an post-national, unregulated, semi-anonymous, variable-fiat currency... but I think the only reason any bank is in it right now is due to the volatility of the market (potential for big wins) (or losses), not due to growth in mainstream demand for a digital currency of indeterminate value.

[Winehole23]

Bitcoin is a bit of a banker's wet-dream in that it is an post-national, unregulated, semi-anonymous, variable-fiat currency... but I think the only reason any bank is in it right now is due to the volatility of the market (potential for big wins) (or losses), not due to growth in mainstream demand for a digital currency of indeterminate value.yep



The platform pitches itself as a broker which specializes in bitcoin derivatives, and trades financial products like options and futures which are directly linked to the price of the cryptocurrency. Thus, it allows users to "go long" and bet that the price of bitcoin will rise, or "go short" and bet the price will fall.

[m>s]

don't know if you clicked the links, but the biggest banks in the world just hopped on board and it's officially a US commodity.
Yeah I'm looking at the fact that it tanked in value from 1500 to 200. It looked like a big pump and dump scam. If it's regulated how can it still be anonymous? Wasn't that the whole point of Bitcoin?

[Winehole23]

On Wednesday, a federal judge in San Francisco approved a request made earlier this month (http://arstechnica.com/tech-policy/2016/11/irs-to-coinbase-please-identify-active-us-traders-between-2013-and-2015/) by the Internal Revenue Service to force Coinbase (https://www.coinbase.com/?locale=en), a popular online Bitcoin wallet service, to hand over years of data that would reveal the identities of all of its active United States-based users.

The IRS is concerned that some of Coinbase’s customers may have used its service to circumvent or mitigate tax liability. Federal investigators say they need Coinbase's records to be able to identify some Bitcoin wallets and to check against tax records to make sure Coinbase's users are paying any and all proper taxes on their Bitcoin-related income.

http://arstechnica.com/tech-policy/2016/12/judge-forces-coinbase-to-handover-years-worth-of-user-data-to-irs/

[CosmicCowboy]

No opinions? it actually looks like digital currency is going to break through and go mainstream. It has certainly had it's ups and downs as regulators stomped on some of the original entrepreneurs but it is now getting Wall Streets attention. At 1 bitcoin to $242 today it's an interesting speculative investment.

Damn. $875 today. I shouldn't have listened to you guys and bought some. That would have been a nice return.

[Winehole23]

why would you listen to us? what a terrible idea.

[CosmicCowboy]

why would you listen to us? what a terrible idea.

:lol I tell myself that all the time.

Boo makes me laugh, though.

[Fabbs]

March 2017.
What do y'all say now?

Did the boat sail on buying and selling later for profit?

[Fabbs]

Looks like buy
March 2015 $250
Sept 2016 $600
March 2017 $1,200 was the latest huge buy low/sell high window.

Ship sailed?

[rmt]

Bought my last lot at $750 and sold at $400+ at end of 2015 to offset other gain. Stupid me - look at it now. Fortunately, dh still has his and is ignoring my comments that it's near all-time high. As with everything, he'll never let go (sell).

[boutons_deux]

Bitcoin Is Still Unsustainable

While the digital currency has gotten more energy efficient in the last few years,

transactions still take thousands of times more electricity than swiping a credit card.

https://motherboard.vice.com/en_us/article/bitcoin-is-still-unsustainable

[rmt]

Bitcoin Is Still Unsustainable

While the digital currency has gotten more energy efficient in the last few years,

transactions still take thousands of times more electricity than swiping a credit card.

https://motherboard.vice.com/en_us/article/bitcoin-is-still-unsustainable




The attraction is the anonymity - not energy efficiency.

[Fabbs]

So now what?

Did any of you get in on Ripple?

[hater]

:lmao retarded vice.com

If it was easy it would make everyone a millionaire retards

[Fabbs]

Ok so you / someone you know got in, it went up then you wanted to cash out.
Were you able to?
I don't like what I'm hearin.

https://community.coinbase.com/t/coinbase-customer-service-warning-to-new-customers/12385
Coinbase Customer Complaints section ^^

[boutons_deux]

I read where the most powerful GPU boards, used for blockchain and cryptocurrency, are nowhere to be found, all sold out.

[DMC]

"You're right.

Its not that their customer service is bad, its just that it doesn't exist at all.

Once I have had 2x the initial amount deducted from my account as a duplicate charge, apparentally it was a hold for debit card purchases however the hold amount was for something duplicated.

Today it has happened again. I bought $120 amount of bitcoins over the past few days and instead of having $120 deducted from my card, they once again deducted twice the supposed amount. Now my card is left with a negative balance disabling me from paying my internet and phone bills."


:lol buying bitcoins when you don't have more than 240 dollars in your bank
:lol can't pay my bills because someone took 120 more than you requested
:lol get rich quick idiots funding all the Charles Banks of the world

[baseline bum]

I read where the most powerful GPU boards, used for blockchain and cryptocurrency, are nowhere to be found, all sold out.

RX 470, RX 480, RX 570, RX 580, and GTX 1060 have been really hard to find, and GTX 1070 prices have gone through the roof to where they're higher than the GTX 1080 which is a much better gaming card (but much worse at mining). Those are all 150W or less cards though. The three best gpus on the market (Titan X [Pascal], GTX 1080 Ti, and Titan Xp) are all 250W cards and haven't been affected too much since they consume too much power to be as profitable. All that might be coming to an end though as ether has tanked in value the last couple of days. Last time there was a huge bubble in crypotcurrency mining in 2014 (with Litecoin) AMD overproduced the R9 290/290x and the used market got flooded with so many R9 290/290x after the bubble burst that you could buy brand new R9 290 for like $200 a couple of months later. These were $400 cards and it's still the best deal I have seen on a gpu for gaming.

[rmt]

I used to use Coinbase (based in CA, iirc) to "trade" - they charge 1% each way. My hubby has his sitting who knows where. If something should happen to him, bye-bye bit coins. But since he mined his, I don't say anything.

[hater]

So a buddy of mine just put in 25k towards a bitcoin mining group. Apparently he will make $1000/month for life and get his 25k in a few years

Gotta see it to believe it

[Thread]

So a buddy of mine just put in 25k towards a bitcoin mining group. Apparently he will make $1000/month for life and get his 25k in a few years

Gotta see it to believe it

- "We're not a bank, Jerry. I want FDIC for my money. I don't see any of that here."

- "Wade" - "Fargo"

[Blake]

So a buddy of mine just put in 25k towards a bitcoin mining group. Apparently he will make $1000/month for life and get his 25k in a few years

Gotta see it to believe it

So you don't really believe it

[baseline bum]

So a buddy of mine just put in 25k towards a bitcoin mining group. Apparently he will make $1000/month for life and get his 25k in a few years

Gotta see it to believe it

You can't buy once and make money over the long term. The coins get harder to generate every time one is generated, and thus you're constantly improving your hardware to keep up.

[hater]

So you don't really believe it

Not until I see it. Thus my statement

[hater]

You can't buy once and make money over the long term. The coins get harder to generate every time one is generated, and thus you're constantly improving your hardware to keep up.

Does it get harder only for your account?

I know it gets harder as more coins are minted. Just wondering if the algorhythm also gets hader for heavy minters

[Capt Bringdown]

Photos: Life inside of China’s massive and remote bitcoin mines (https://qz.com/1026605/photos-chinas-bitcoin-mines-and-miners/)

[baseline bum]

Does it get harder only for your account?

I know it gets harder as more coins are minted. Just wondering if the algorhythm also gets hader for heavy minters

It gets harder for every coin generated period.

[Wild Cobra]

What do you guys think about bitcoin?

Did you mean "Bit-con?"

[Wild Cobra]

No opinions? it actually looks like digital currency is going to break through and go mainstream. It has certainly had it's ups and downs as regulators stomped on some of the original entrepreneurs but it is now getting Wall Streets attention. At 1 bitcoin to $242 today it's an interesting speculative investment.

Until the bubble bursts...

[ducks]

if a donkey gets in office

[hater]

It gets harder for every coin generated period.

Oh sure

But thats just fair

[Capt Bringdown]

Cryptocurrencies Collapsed (http://wolfstreet.com/2017/07/11/what-is-going-on-with-crypto-currencies-collapse/)


Ethereum down 52%, Ripple down 57%, EON down 70% in eight days.

A “collapse” isn’t when something edges down 1% in value or even 10% or 20%; it’s when something plunges 50% in a short time.

Bitcoin has plunged “only” 21% in one month. The granddaddy of crypto coins had soared to just about $3,000 by June 12, and a market cap of $48.5 billion. Since then, it has plunged 21% to $2,366 and a market cap of $38.9 billion. Another $9.5 billion down the drain in just a few weeks.

Between these top three crypto coins, about $35 billion in “wealth” has returned to the ether in two months.

[baseline bum]

Damn ether coins are down to $158 right now and has been as low as $133 the last 24 hours. Fuck ethereum, that'll be awesome if this mining is dead when Nvidia releases their Volta cards.

[Kim Jong-il]

I've tried understanding bitcoin, but every time I look into it, my eyes glaze over and I just move on. If bitcoin is the future, I'm just not going to be able to go with it. I'm going to have to be the old man writing a check at the gas station on this one.

[boutons_deux]

People Keep Getting Charged With a Crime for Selling Bitcoin

US law enforcement keeps charging people with a crime for selling bitcoin.

It's not illegal to sell bitcoins per se, but at least four people across the US this year have been charged or pleaded guilty to the crime of exchanging the cryptocurrency for fiat as a business without a license—"business" being the keyword.

2013, when the US Financial Crimes Enforcement Network declared (https://www.fincen.gov/sites/default/files/shared/FIN-2013-G001.pdf) that

selling bitcoin as a business is money transmission that requires licensing. Individual states have followed suit,https://motherboard.vice.com/en_us/article/j5qa7y/people-keep-getting-charged-with-a-crime-for-selling-bitcoin

[boutons_deux]

ETHEREUM COFOUNDER: There is 'a ticking time bomb' in cryptocurrencies


http://www.businessinsider.com/ethereum-price-cofounder-says-ticking-time-bomb-2017-7

[boutons_deux]

Hacker Uses Parity Wallet Vulnerability to Steal $30 Million Worth of Ethereum

https://www.bleepingcomputer.com/news/security/hacker-uses-parity-wallet-vulnerability-to-steal-30-million-worth-of-ethereum/

[boutons_deux]

Ethereum Miners Are Selling Their Graphics Cards

Miners lose, gamers win.

The digital gold rush for cryptocurrencies like ethereum (https://motherboard.vice.com/en_us/article/newkqz/okay-wtf-is-ethereum) has caused a scarcity of graphics cards (https://motherboard.vice.com/en_us/article/zmemza/cryptocurrency-mining-fueling-a-gpu-shortage), and PC gamers are mad. Products made primarily for gaming happen to be really good at crunching the numbers required to mine digital currency, and miners have been buying up all the graphics cards.

Can you blame them? From April of this year through the middle of June, this is what happened to the price of ethereum:


over the last month, etherium has lost half its value.

Because of how the blockchain works, ethereum mining gets more difficult over time, causing any particular hardware setup to gradually earn less money every day. Based on the RX580's processing ability, power consumption, the drop in trading price, and the increase in mining difficulty, I did some back-of-the-envelope calculations.*

According to my math, the same graphics card that used to earn about $5 a day now earns less than roughly $2 a day.

A $300 graphics card that might have paid for itself in 2-3 months (after electricity costs) will now take over 6 months, at best. A sizable mining operation can stomach that sort of long-term investment, but there aren't a lot of hobbyists who are willing to stick it out.

You can never tell what is going to happen to the trade price of cryptocurrencies, but most people probably don't expect the situation to suddenly and quickly reverse itself.

What's more, many ethereum mining enthusiasts expect (http://www.legitreviews.com/ethereum-hashrate-performance-drop-might-coming-amd-nvidia-gpus-tested_195702) AMD's current cards to stop performing as well as they do now within a few months—

tests have shown a severe reduction in performance as the complexity of ethereum calculations increase.

Nobody knows what the problem is for sure, or if a driver update might fix it, but

an RX 480 or 580 bought in the last month might never pay for itself once you factor in electricity costs.

https://motherboard.vice.com/en_us/article/evd7jj/etherium-miners-are-selling-their-graphics-cards

[baseline bum]

Ethereum Miners Are Selling Their Graphics Cards

Miners lose, gamers win.

The digital gold rush for cryptocurrencies like ethereum (https://motherboard.vice.com/en_us/article/newkqz/okay-wtf-is-ethereum) has caused a scarcity of graphics cards (https://motherboard.vice.com/en_us/article/zmemza/cryptocurrency-mining-fueling-a-gpu-shortage), and PC gamers are mad. Products made primarily for gaming happen to be really good at crunching the numbers required to mine digital currency, and miners have been buying up all the graphics cards.

Can you blame them? From April of this year through the middle of June, this is what happened to the price of ethereum:


over the last month, etherium has lost half its value.

Because of how the blockchain works, ethereum mining gets more difficult over time, causing any particular hardware setup to gradually earn less money every day. Based on the RX580's processing ability, power consumption, the drop in trading price, and the increase in mining difficulty, I did some back-of-the-envelope calculations.*

According to my math, the same graphics card that used to earn about $5 a day now earns less than roughly $2 a day.

A $300 graphics card that might have paid for itself in 2-3 months (after electricity costs) will now take over 6 months, at best. A sizable mining operation can stomach that sort of long-term investment, but there aren't a lot of hobbyists who are willing to stick it out.

You can never tell what is going to happen to the trade price of cryptocurrencies, but most people probably don't expect the situation to suddenly and quickly reverse itself.

What's more, many ethereum mining enthusiasts expect (http://www.legitreviews.com/ethereum-hashrate-performance-drop-might-coming-amd-nvidia-gpus-tested_195702) AMD's current cards to stop performing as well as they do now within a few months—

tests have shown a severe reduction in performance as the complexity of ethereum calculations increase.

Nobody knows what the problem is for sure, or if a driver update might fix it, but

an RX 480 or 580 bought in the last month might never pay for itself once you factor in electricity costs.

https://motherboard.vice.com/en_us/article/evd7jj/etherium-miners-are-selling-their-graphics-cards




Ether has shot back up in the last few days and I'm seeing RX 470 cards whose MSRP was $180 selling for $300+ on ebay right now. Not asking $300, I mean people bidding that high. Though they were going for $400+ a few weeks ago.

[Fabbs]

Has anyone cashed out successfully?
As in people you saw with your own eyes. Not interweb story.

[boutons_deux]

The attraction is the anonymity - not energy efficiency.

the energy costs are PRECISELY why many miners have quit

[rmt]

the energy costs are PRECISELY why many miners have quit

I don't see it as miners quitting because of ENERGY costs but as 2/3 have been mined, it gets harder to mine. If one got in at the beginning when there were more bit coins to be had (and yes, less energy cost to mine), no one had any idea it would be approaching $3000 a bit coin. The type of person to be mining back then was attracted to the anonymity/untrace-ability, the idea of digital currency - the challenge of mining was "fun" - not particularly done for money.

[boutons_deux]

I don't see it as miners quitting because of ENERGY costs

read my fucking article above, aw fuck it, just try this:

"an RX 480 or 580 bought in the last month might never pay for itself once you factor in electricity costs"

I bet lots of miners don't know what their mining rigs consume in kWh nor what they pay for kWh.

[boutons_deux]

Bitcoin Has Avoided Tearing Itself Apart (for Now)

The cryptocurrency looked headed for a “hard fork”—which wouldn’t be all that different from how physical currencies have evolved in the past.

The world’s most popular cryptocurrency has been facing a challenging problem for several years now: it can only be used to make seven transactions per second.

If it’s to become a truly useful payment system in the future, that’s nowhere near enough—but moves to fix the fault have caused huge and potentially troubling divides in its user base.

The issue is well known (https://www.technologyreview.com/s/540921/the-looming-problem-that-could-kill-bitcoin/), but as the currency has continued to grow in popularity, it’s become an ever-increasing threat to its own success. As we’ve pointed out in the past (https://www.technologyreview.com/s/600781/technical-roadblock-might-shatter-bitcoin-dreams/),

Bitcoin’s transaction rate is paltry compared with those of conventional payment systems like, say, Visa, which processes an average of 2,000 transactions per second and can handle up to 56,000 transactions per second if pushed.

https://www.technologyreview.com/s/608332/bitcoin-has-avoided-tearing-itself-apart-for-now/

[rmt]

Wow, what's going on? Bit coin over $3200! How stupid of me to sell at $400 - 8x.

[boutons_deux]

Experiment: Build a (Profitable) Ethereum Mining Rig From Spare Parts


http://www.tomshardware.com/reviews/spare-part-ethereum-mining-rig,5143.html?utm_source=th-newsletter&utm_medium=email&utm_campaign=20170817-th

[boutons_deux]

The lives of bitcoin miners digging for digital gold in Inner Mongolia


https://qz.com/1054805/what-its-like-working-at-a-sprawling-bitcoin-mine-in-inner-mongolia/?mc_cid=e4d508de89&mc_eid=47e367557b

[boutons_deux]

The attraction is the anonymity - not energy efficiency.

:lol As usual, you have no clue. The cost of electricity dominates whether one makes enough or any mining money.

[Fabbs]

Has anyone cashed out successfully?
As in yourself or people you know and saw cash out with your own eyes. Not interweb story.

[boutons_deux]

:lol As usual, you have no clue. The cost of electricity dominates whether one makes enough or any mining money.

Bitcoin Energy Consumption Index
https://digiconomist.net/bitcoin-energy-consumption

energy consumption is such a huge issue that it's fundamental, esp in cities with high energy costs, in deciding if one can make ANY money.

[rmt]

Here we go again - bitcoin over $4600. Hope people bought the dip.

[rmt]

Here we go again - bitcoin over $4600. Hope people bought the dip.

$5697 - over $1k in just 5 days - just WOW.

[RandomGuy]

Has anyone cashed out successfully?
As in people you saw with your own eyes. Not interweb story.

Bought a kick-ass video card and had a very savvy friend recommend it. Not sure the electricity would have been worth the payout, but didn't crunch the numbers.

[boutons_deux]

One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week


Bitcoin’s surge in price has sent its electricity consumption soaring.

it would be profitable for Bitcoin miners to burn through over 24 terawatt-hours of electricity annually as they compete to solve increasingly difficult cryptographic puzzles to "mine" more Bitcoins.

https://motherboard.vice.com/en_us/article/ywbbpm/bitcoin-mining-electricity-consumption-ethereum-energy-climate-change?utm_campaign=Motherboard+Premium+Newsletter +-+112&utm_content=Motherboard+Premium+Newsletter+-+112+CID_8e1c01718cba4afbbb3e9087afaed6b5&utm_medium=email&utm_source=Campaign+Monitor&utm_term=Read+more

[DMC]

One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week


Bitcoin’s surge in price has sent its electricity consumption soaring.

it would be profitable for Bitcoin miners to burn through over 24 terawatt-hours of electricity annually as they compete to solve increasingly difficult cryptographic puzzles to "mine" more Bitcoins.

https://motherboard.vice.com/en_us/article/ywbbpm/bitcoin-mining-electricity-consumption-ethereum-energy-climate-change?utm_campaign=Motherboard+Premium+Newsletter +-+112&utm_content=Motherboard+Premium+Newsletter+-+112+CID_8e1c01718cba4afbbb3e9087afaed6b5&utm_medium=email&utm_source=Campaign+Monitor&utm_term=Read+more



Bitcoins make money, your posts use electricity and don't do anything for anyone.

[rmt]

One Bitcoin Transaction Now Uses as Much Energy as Your House in a Week


Bitcoin’s surge in price has sent its electricity consumption soaring.

it would be profitable for Bitcoin miners to burn through over 24 terawatt-hours of electricity annually as they compete to solve increasingly difficult cryptographic puzzles to "mine" more Bitcoins.

https://motherboard.vice.com/en_us/article/ywbbpm/bitcoin-mining-electricity-consumption-ethereum-energy-climate-change?utm_campaign=Motherboard+Premium+Newsletter +-+112&utm_content=Motherboard+Premium+Newsletter+-+112+CID_8e1c01718cba4afbbb3e9087afaed6b5&utm_medium=email&utm_source=Campaign+Monitor&utm_term=Read+more



Why spend your money trying to mine bit coin - just treat it like a stock - buy when it swings low and sell when it climbs (of course, no one knows what the high/low is and when it turns) or just buy and hold. That strategy works as long as it keeps climbing (which it seems like it's been doing). This climb is incredible - earlier this year, dh and friend were projecting it would eventually hit 10k (in the distant future) - now, it seems like that's not so far off. If he had only had that discussion with ME (instead of his computer friend) when it was $6 per, we'd have $7mil minus the $6k initial investment :-( but imagine how that guy who spent 10k bit coins buying 2 pizzas feels now.

[rmt]

Dh said that (if you have the equipment), he thinks it's better to do bit coin block chain verification instead of mining. As bit coin becomes more prevalent, verification (and getting a piece of each transaction you verify) will grow instead of mining from a decreasing number of bit coins. Something worth investigating, imo.

[rmt]

And bit coin breaks the 8k barrier. Why, oh why, did I sell my 20 bit coins at $400 each :-(

[rmt]

And it breaks the 9k barrier - just more wow!

[ElNono]

Dh said that (if you have the equipment), he thinks it's better to do bit coin block chain verification instead of mining. As bit coin becomes more prevalent, verification (and getting a piece of each transaction you verify) will grow instead of mining from a decreasing number of bit coins. Something worth investigating, imo.

There's no commission for verification, because you don't have to verify the entire block chain. About 6 blocks are sufficient to verify a transaction, which nowadays fits comfortably in about a couple hundred megabytes. The system was designed with that goal in mind. While the amount of transactions might grow, since the blockchain is a linear construct, the time to verify the transactions in it, is also linear.

[boutons_deux]

Exclusive: Nearly 4 Million Bitcoins Lost Forever, New Study Says


http://fortune.com/2017/11/25/lost-bitcoins/

[boutons_deux]

What Happens When All 21,000,000 Bitcoins Have Been Mined?https://cryptocoinmastery.com/what-happens-when-all-bitcoins-have-been-mined/

[boutons_deux]

Bitcoin Mining Now Consuming More Electricity Than 159 Countries Including Ireland & Most Countries In Africa

http://ritholtz.com/2017/11/bitcoin-mining-now-consuming-electricity-159-countries-including-ireland-countries-africa/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheBigPicture+%28The+Big+Pict ure%29

[boutons_deux]

World's largest bitcoin exchange, bitFlyer, enters the US

https://www.cnbc.com/2017/11/28/worlds-largest-bitcoin-exchange-bitflyer-enters-the-us.html

[boutons_deux]

Bitcoin Bubble Makes Dot-Com Look Rational (https://www.bloomberg.com/gadfly/articles/2017-11-27/bitcoin-crash-may-take-a-while-longer)

https://www.bloomberg.com/gadfly/articles/2017-11-27/bitcoin-crash-may-take-a-while-longer

now past $10K

if nothing else, interesting, entertaining goings-on.

I raise tulips, supply limited, and am accepting bids

[boutons_deux]

NiceHash diced up by hackers, thousands of Bitcoin pilfered

Mining outfit says its entire wallet gone, estimated $62m

the customers who have now been suddenly relieved of their their cryptocoins, likely for good.

https://www.theregister.co.uk/2017/12/06/nicehash_diced_up_by_hackers_thousands_of_bitcoin_ pilfered/

[CosmicCowboy]

Hit 17K last night before sliding back to 15K. Up 1000% this year. Wall street about to open a futures market so you can short/go long the price.

[AaronY]

Hit 17K last night before sliding back to 15K. Up 1000% this year. Wall street about to open a futures market so you can short/go long the price.
You made some money on it?

[rmt]

Hit 17K last night before sliding back to 15K. Up 1000% this year. Wall street about to open a futures market so you can short/go long the price.

I heard that it briefly hit 19k on other techie sites - incredible. I usually just watch CoinBase but it is always lower than the rest. Sold my 20 bit coins at $400 each (at a loss to boot) - biggest investment mistake of my life but good thing - dh doesn't listen to me about his bit coins. Moved some money in from checking but it took 12 days to transfer! By then it had started its move up (was waiting for it to drop and it never did) and won't buy at this price. Please remind me next time to take my own advice.

[Pavlov]

Hit 17K last night before sliding back to 15K. Up 1000% this year. Wall street about to open a futures market so you can short/go long the price.

Crash incoming.

[CosmicCowboy]

Crash incoming.
Yep. I'm just watching.

[rmt]

It's very volatile but imo, it won't crash. People will jump in before the price gets too low - too many people are talking about it. The only way I see a crash is if somewhere like CoinBase gets wiped out by hackers.

[monosylab1k]

I still have no clue how bitcoin works or even what the hell it is, and I’ve done hours of research into it :lol In 30 years I’m going to be the modern day equivalent of a guy stuffing his life savings under his mattress.

[boutons_deux]

It's very volatile but imo, it won't crash. People will jump in before the price gets too low - too many people are talking about it. The only way I see a crash is if somewhere like CoinBase gets wiped out by hackers.


$60M wallet was cracked, all lost. mtGox total loss, and

https://www.theguardian.com/technology/2017/nov/08/cryptocurrency-300m-dollars-stolen-bug-ether

BITCOIN IS NONE OF THE THINGS IT WAS SUPPOSED TO BE

https://theoutline.com/post/2592/bitcoin-is-none-of-the-things-it-was-supposed-to-be

[rmt]

$60M wallet was cracked, all lost. mtGox total loss, and

https://www.theguardian.com/technology/2017/nov/08/cryptocurrency-300m-dollars-stolen-bug-ether

BITCOIN IS NONE OF THE THINGS IT WAS SUPPOSED TO BE

https://theoutline.com/post/2592/bitcoin-is-none-of-the-things-it-was-supposed-to-be


Yeah, but it survived didn't it - and look at where it is now - that's the risk of an untraceable currency. And at this price, you can be sure the hackers are gonna be out in FULL FORCE - that's why I've suggested to dh that he split his up and put on different sites so it's less vulnerable.

But if the stock market is getting in on bitcoin, it'll just make it more available to the common person - instead of this 12 day transfer to CoinBase - it was me being penny-wise and pound foolish :bang - didn't want to spend the $25 for wire transfer - just didn't know it would take that long!

[rmt]

$60M wallet was cracked, all lost. mtGox total loss, and

https://www.theguardian.com/technology/2017/nov/08/cryptocurrency-300m-dollars-stolen-bug-ether

BITCOIN IS NONE OF THE THINGS IT WAS SUPPOSED TO BE

https://theoutline.com/post/2592/bitcoin-is-none-of-the-things-it-was-supposed-to-be


The article doesn't say $60 million (it says $300 million) nor that it's a mtGox total loss nor that it was bit coin (it was ether) - go back to sleep, bou, you're not fully awake.

[rmt]

I still have no clue how bitcoin works or even what the hell it is, and I’ve done hours of research into it :lol In 30 years I’m going to be the modern day equivalent of a guy stuffing his life savings under his mattress.

When I see the way my kids and their friends pay each other back (electronically - instead of cash), I think it's the way of the future. These young people just don't want to be bothered with something like cash. Me - I'm the opposite - I like cash - nobody can tell what I spend my money on, I can't overspend and dh insists on having emergency money in the safe in case of I don't know what - just like he didn't want me to sell my gold jewelry when gold was $1800 an ounce (he took him mom and aunt down to the Siebold building to sell theirs though).

[boutons_deux]

The article doesn't say $60 million (it says $300 million) nor that it's a mtGox total loss nor that it was bit coin (it was ether) - go back to sleep, bou, you're not fully awake.

there was another theft in the past few days of $60M+

[TeyshaBlue]

I still have no clue how bitcoin works or even what the hell it is, and I’ve done hours of research into it :lol In 30 years I’m going to be the modern day equivalent of a guy stuffing his life savings under his mattress.

Rocky:. Bullwinkle, why do you keep your money in your mattress?
Bullwinkle:. Because I want to keep it safe.
Rocky: Why don't you keep it in a bank?
Bullwinkle: Banks don't take mattress, silly.

[rmt]

Here comes a downward swing - down to $14,288 on CoinBase. Of course, the question is how low will it go?

[boutons_deux]

It Is No Longer Worth It To Build An Ethereum Mining Rig
Building an Ethereum mining rig hasn’t been worth it for months, and soon they will be completely obsolete.https://motherboard.vice.com/en_us/article/nedn3d/ethereum-mining-rig-no-longer-worth-it

[Mark Celibate]

Tbh anyone made any serious cash off these memes? What memes are you guys invested in ATM?

[rmt]

It Is No Longer Worth It To Build An Ethereum Mining Rig
Building an Ethereum mining rig hasn’t been worth it for months, and soon they will be completely obsolete.https://motherboard.vice.com/en_us/article/nedn3d/ethereum-mining-rig-no-longer-worth-it



Imo, don't waste your money on mining rigs. Set a limit buy order on gdax.com (coinbase) when it drops below $13k (which it did this weekend) and limit sell order at whatever x% profit you are happy with - don't get greedy. I think it went to around 14250? Take the profit and rinse and repeat. Don't do this with money you can't afford to lose.

[Mark Celibate]

What lunar exploration missions should I investigate guys?

[SpursforSix]

What lunar exploration missions should I investigate guys?

Severen 7. Hands down.

[rmt]

And I'm out at 15237.50

[Mark Celibate]

Lol daytrading bitcoin. You’re crazy

[rmt]

Lol daytrading bitcoin. You’re crazy

Yup - crazy :-) and over $2k richer in a couple days (minus taxes of course).

[Mark Celibate]

anyone get in on this stellar madness? It’s blasting off now.

[rjv]

price manipulation. who is driving the price up? no regulations is not all paradise. bubble. not for those using their savings to get rich quick.

[rmt]

It was revealed yesterday that Peter Thiel (early Facebook investor and one of the few techie Trump fans) bought millions in bit coin and set it off.

[spurraider21]

not gonna pretend to have a clue about any of this tbh... the charts look insane. how the fuck can you predict anything about it?

[Pavlov]

not gonna pretend to have a clue about any of this tbh... the charts look insane. how the fuck can you predict anything about it?Unless you're the one manipulating the market, you can't.

[spurraider21]

Damn. $875 today. I shouldn't have listened to you guys and bought some. That would have been a nice return.
how far we have come :lol

[Mark Celibate]

Dont listen to cuck advice, now sure I wouldn’t advise daytrading it but people are saying the market is going to hit 2-12 trillion this year. I’m going to hold about 10 different coins and try to minimize trading and mostly hold tight.

[Mark Celibate]

Did any of you buy verge at the low point? It’s on the move.

[baseline bum]

Holy fuck ethereum is up 52% in the last week. It's sending gpu prices through the roof again. I just saw one of the worst versions of the GTX 1070 get $600 bids on ebay with an hour left. Damn ether dropped into the $200s or so back in the summer after its first crash and is now north of $1300 a coin.

[spurraider21]

i... cant understand these

[baseline bum]

Holy fuck, that 1070 was talking about sold for $1125.

https://www.ebay.com/itm/MSI-Gaming-GeForce-GTX-1070-8GB-GDDR5-SLI-Graphics-Card-GTX-1070-ARMOR-8G-OC/122894553738

RandomGuy, you gotta see this. $1125 for a GTX 1070 is unreal.

[rmt]

i... cant understand these

If you had invested that 30k on 10/24 when I gave my advice at $5615.43 a bit coin, it would be worth $77,212.06 today - 157% profit. To be fair, I advised trading, not leaving it alone but the big rise is already gone and probably my original trading advice is the best bet now. It's on a downward swing today (14k) from its recent high (17k on Jan 7).

[rmt]

It went down to $12794 - on news of South Korea cracking down on bit coin

[RandomGuy]

Holy fuck, that 1070 was talking about sold for $1125.

https://www.ebay.com/itm/MSI-Gaming-GeForce-GTX-1070-8GB-GDDR5-SLI-Graphics-Card-GTX-1070-ARMOR-8G-OC/122894553738

RandomGuy, you gotta see this. $1125 for a GTX 1070 is unreal.

Fascinating. I might buy something older and put mine up for sale. I will happily play games slightly slower for a year or two if I can pocket a tidy profit.

[baseline bum]

Fascinating. I might buy something older and put mine up for sale. I will happily play games slightly slower for a year or two if I can pocket a tidy profit.

Gaming slightly slower? When this mini bubble is over and ether starts goes back to a steadier rise (like we saw from June through the new year) the GTX 1080 Ti will probably drop to $850 or so new, and it's 67% faster than the 1070. You could buy one today for $1200, though I wouldn't.

https://www.newegg.com/Product/Product.aspx?Item=9SIAA3D6JN0276

You could buy a 1080 today for $850 that's about 22% faster than the 1070. Though I wouldn't pay $850 for a 1080 either. I imagine they'll drop to $550 to $600 within a month (my brother got two on Tuesday at the start of this run on gpus for $600 each).

https://www.newegg.com/Product/Product.aspx?Item=9SIA24G5DW6501

I don't know if you'd get $1125 today for the 1070 since ether has dropped to $1223 currently when it was around $1300 most of yesterday. I haven't seen what 1070 are selling for today on ebay. It sounds weird but the 1070 is one of the ultimate mining cards because it's really powerful but with a very low power draw. The more powerful 1080 doesn't mine as well because it uses a different type of memory (actually faster memory too) and the 1080 Ti consumes about twice as much power as the 1070. Of course the best mining card for the money is the $3000 Titan V that Nvidia released a couple of weeks ago, but those are long since sold out.

Also you probably don't want to buy a slower gpu. The RX 580 that is a big step down from your 1070 sells for $600 right now. The GTX 1060 6GB which is also a big step down sells for $400 right now. Though you could get a GTX 1060 3GB for $230 today. Those aren't in demand at all for mining because they only have 3GB of memory. It's enough to play 1080p 60 fps today but it's a big step down from the 1070 for gaming.

https://www.newegg.com/Product/Product.aspx?Item=N82E16814126208

[rmt]

In case you guys weren't paying attention, today would have been a good day to buy bit coin.

[CosmicCowboy]

Im looking at XRP over bitcoin for the long term because of the ripple network. Maybe drop a few thousand in it for fun. Any thoughts from the techies out there?

[boutons_deux]

In case you guys weren't paying attention, today would have been a good day to buy bit coin.

nobody knows if today is the bottom of the crash

[rmt]

nobody knows if today is the bottom of the crash

bou, if you wait for the bottom (whether stocks or bitcoin), you're gonna wait forever and never invest. You don't have to buy at the very bottom or sell at the very top. You buy when low (which $10+k is [very]) and sell when it's reasonably high (meaning not wait until $18-19k, but over $15k or whatever makes you happy). Take your profit and wait for the next drop.

[koriwhat]

i don't know much about bitcoin tbh. wish i did back 6 yrs ago or so. i should just watch a video on it. any of you invest in BC?

[CosmicCowboy]

i don't know much about bitcoin tbh. wish i did back 6 yrs ago or so. i should just watch a video on it. any of you invest in BC?
Sounds like RMT's hubby made a bundle on it.

[koriwhat]

Sounds like RMT's hubby made a bundle on it.

seems like quite a few have made a bundle including wikileaks... i heard about bitcoin in the beginning and it still seems as foreign to me as it did back then. too bad i never researched it back then. oh well, i'm not much of a stocks kind of guy anyhow. glad for those who have made out like bandits though.

[boutons_deux]

You buy when low (which $10+k is [very])

... and it drops to $5K. Purely speculative investing, if you've to the funds to lose.

[boutons_deux]

New US $65 Million Bitcoin Mining Facility is Among Largest Data Centers in North America

https://www.altcoinss.com/news/news-new-us-65-million-bitcoin-mining-facility-is-among-largest-data-centers-in-north-america?uid=6449

[spurraider21]

clicks thread to see new discussion on topic

sees 2 ignored boutons article spams

leaves disappointed

[RandomGuy]

Severen 7. Hands down.

??

[SpursforSix]

??

Exactly

[boutons_deux]

Bitcoin tumbles as cryptocurrency sell-off intensifies

Cryptocurrencies plunged on Friday,

with bitcoin at one point sliding below $8,000 and

headed for its biggest weekly loss since December 2013,

as worries about a regulatory clampdown globally sent investors scrambling to sell.

https://www.reuters.com/article/us-global-markets-bitcoin/bitcoin-tumbles-as-cryptocurrency-sell-off-intensifies-idUSKBN1FM11M

regulations? how about numberous THEFTS of bitcoins in th many $10Ms?

[boutons_deux]

...

[boutons_deux]

What the Coincheck hack means for the future of blockchain security

The plunder of more than $500 million worth of digital coins (https://www.technologyreview.com/the-download/610088/hackers-stole-530-million-in-the-biggest-ever-cryptocurrency-theft/)from the Japanese cryptocurrency exchange Coincheck last week has

added to a growing perception that

cryptocurrencies are particularly vulnerable to hackers.

https://www.technologyreview.com/s/610092/what-the-coincheck-hack-means-for-the-future-of-blockchain-security/

[Splits]

In case you guys weren't paying attention, today would have been a good day to buy bit coin.

Closed at $11,4167 the day you posted this.

Closed at $6,427 yesterday.

Great advice. I hope you took it yourself.

[boutons_deux]

Bitcoin Ban Expands Across Credit Cards as Big U.S. Banks Recoil

A growing number of big U.S. credit-card issuers are deciding they don’t want to finance a falling knife.

Allowing purchases of cryptocurrencies can create big headaches for lenders, which can be left on the hook if a borrower bets wrong and can’t repay.

There’s also the risk that thieves will abuse cards that were purloined or based on stolen identities, turning them into crypto hoards.

Banks also are required by regulators to monitor customer transactions for signs of money laundering --

which isn’t as easy once dollars are converted into digital coins.

https://www.bloomberg.com/news/articles/2018-02-02/bofa-to-decline-all-cryptocurrency-transactions-on-credit-cards

[hater]

Lol even Putin himself warned the world about this crash a month ago

:lmao the idiots that though buying was a good idea

I am definitely dropping 25k on it in about 1 month when it hits close to bottom. Itsgona go back up slowly for a hit before free falling again. Good money to be made

[Mark Celibate]

Lol even Putin himself warned the world about this crash a month ago

:lmao the idiots that though buying was a good idea

I am definitely dropping 25k on it in about 1 month when it hits close to bottom. Itsgona go back up slowly for a hit before free falling again. Good money to be made

be careful and make sure it has established strong support. Too often people try to catch a falling knife.

[Clipper Nation]

As far as I can tell, Shitcoin is no different than Pet Rocks, Pogs or fidget spinners, tbh. It's a fad that dumbasses are blowing their money on because they've convinced themselves it has enduring value. Why anyone thinks that wasted processing power has value is beyond me. Especially when it's such a waste of electricity.

[Mark Celibate]

Well it’s not that simple it’s decentralized money except at this stage it can’t be used as money so people are speculating on if it can be improved upon and widely adopted or instead which other coin will come along and fill that role. It’s speculation but based on a real idea (decentralized currency) whereas a pet rock will always be a rock. Basically bitcoin is a work in progress at this point and we are all betting on whether or not it can succeed (scalability, adoption, etc)

[Clipper Nation]

Oh, and before anyone says "but, but, muh blockchain" - it's been a decade and still nobody has come up with a practical use for the blockchain or a reason why the average person would ever want or need to use one:

https://hackernoon.com/ten-years-in-nobody-has-come-up-with-a-use-case-for-blockchain-ee98c180100

[Clipper Nation]

Well it’s not that simple it’s decentralized money except at this stage it can’t be used as money so people are speculating on if it can be improved upon and widely adopted or instead which other coin will come along and fill that role. It’s speculation but based on a real idea (decentralized currency) whereas a pet rock will always be a rock. Basically bitcoin is a work in progress at this point and we are all betting on whether or not it can succeed (scalability, adoption, etc)

I still don't see the upside in throwing tons of money away on the hope that a bunch of useless and resource-hogging computer calculations become a viable currency.

[hater]

As far as I can tell, Shitcoin is no different than Pet Rocks, Pogs or fidget spinners, tbh. It's a fad that dumbasses are blowing their money on because they've convinced themselves it has enduring value. Why anyone thinks that wasted processing power has value is beyond me. Especially when it's such a waste of electricity.

The tchnology is solid qnd ell thought out. Thus why even th banking system is considering copycating it :lmao

The best thing about bitcoin is it still a good form of payment even if it goes full underground. It will never dinmark my words

[Mark Celibate]

I still don't see the upside in throwing tons of money away on the hope that a bunch of useless and resource-hogging computer calculations become a viable currency.
Well the resource hogging calculations are just for mining purposes and I think 75% of bitcoins have already been mined. That’s like saying mining gold costs resources so gold is pointless. The key is scalability, making it cheaper and faster to make transactions. If bitcoin can’t do it the some other coin will, actually some already have.

[CosmicCowboy]

The problem with digital currencies are that they are just a unique number created by an algorithm. Any smart mathematician can create a new algorithm.

[Mark Celibate]

The problem with digital currencies are that they are just a unique number created by an algorithm. Any smart mathematician can create a new algorithm.

well you have to offer a solution to something or else your new shitcoins isn’t going to be adopted by anyone

[Pavlov]

Dont listen to cuck advice, now sure I wouldn’t advise daytrading it but people are saying the market is going to hit 2-12 trillion this year. I’m going to hold about 10 different coins and try to minimize trading and mostly hold tight.Still holding?

[Mark Celibate]

Still holding?
Yeah of course. ETH is still hovering around where it was December 31. Anyone who buys high and sells low won’t get very far. Either you believe in the technology or you don’t. Only thing I’m down on are a couple of my altcoins.

[Mark Celibate]

And we are not talking about huge sums of money, I wouldn’t put in any more than you’re prepared to lose outright.

[baseline bum]

Closed at $11,4167 the day you posted this.

Closed at $6,427 yesterday.

Great advice. I hope you took it yourself.

https://i.makeagif.com/media/4-29-2014/Xxkqb3.gif

[Mark Celibate]

That’s up there with shaqondudley.jpg

[hater]

The problem with digital currencies are that they are just a unique number created by an algorithm. Any smart mathematician can create a new algorithm.

Nope

Its a shared public accounting book that is tottaly descentralized thus immune to any government/bank control

Its a great thing and hopefulky the future of humanity

But its not a wealth or savings vehicle

[CosmicCowboy]

There is a difference between the blockchain technology and the hundreds of invented currencies.

[Mark Celibate]

Well for one there’s multiple generations of blockchain, truly anonymous coins like monero, IOTA Which doesn’t use blockchain at all but uses something called tangle. It’s not just hundredsof identical coins.

[hater]

There is a difference between the blockchain technology and the hundreds of invented currencies.

There is no bitcoin without blockchain

Bitcoin is not even a currency tbqh

[CosmicCowboy]

There is no bitcoin without blockchain

Bitcoin is not even a currency tbqh
Anything that is considered a store of value and can be exchanged for trade is a currency. It can be seashells or bitcoins.

[hater]

Anything that is considered a store of value and can be exchanged for trade is a currency. It can be seashells or bitcoins.

Disagree

Its a form of payment but not a currency.

I can pay you 25 oranges for cleaning my toilet. Does not instantly make oranges a currency

[CosmicCowboy]

Disagree

Its a form of payment but not a currency.

I can pay you 25 oranges for cleaning my toilet. Does not instantly make oranges a currency
Sure it does if I can trade those oranges for something else.

[CosmicCowboy]

American Indians used horses, blankets, pelts etc. As currency. Currency doesnt have to be coin or paper.

[CosmicCowboy]

Bitcoin is even called a digital currency.

[Mark Celibate]

Bitcoin is even called a digital currency.
Can’t be used as one yet though, but digital currency is the idea

[rmt]

Closed at $11,4167 the day you posted this.

Closed at $6,427 yesterday.

Great advice. I hope you took it yourself.

There isn't any loss until one sells :-) I was trading bit coin when it was $400 - do you think something as volatile as bit coin won't get back to $11k. Meanwhile, what a buying opportunity this dip has been.

[CosmicCowboy]

There isn't any loss until one sells :-) I was trading bit coin when it was $400 - do you think something as volatile as bit coin won't get back to $11k. Meanwhile, what a buying opportunity this dip has been.
You are buying at $8000 to speculate????

Damn. Balls of steel.

[TeyshaBlue]

Balls of stupid.

[DarrinS]

I think I’m staying far away from it.

[hater]

Bitcoin is even called a digital currency.

Thats because idiots dont know how to explain it to common folk.

Again. Its not a currncy becquse its not backed by absolutely anything. Its still a great form of payment thanks to its technology.

[hater]

:lmao goldman saying bitcoin will reac zero soon :lmao

Atworst it will go back to 2012 galues and would never fall below that. Dont b afraid of it folks. At the same time, dont expect to make any money off it unless you are trading daily

[Mark Celibate]

Rebound is continuing. By spring we should be back on track, SEC meeting was seen by investors as the USA embracing crypto (to tax of course)

[Will Hunting]

Closed at $11,4167 the day you posted this.

Closed at $6,427 yesterday.

Great advice. I hope you took it yourself.
:lmao the resident half bred Jamaican slut fails again

[CosmicCowboy]

Thats because idiots dont know how to explain it to common folk.

Again. Its not a currncy becquse its not backed by absolutely anything. Its still a great form of payment thanks to its technology.
Backed by??? Nope

[CosmicCowboy]

Thats because idiots dont know how to explain it to common folk.

Again. Its not a currncy becquse its not backed by absolutely anything. Its still a great form of payment thanks to its technology.
Please look up the definition of currency.

[hater]

Please look up the definition of currency.

Thats an old definition

Its like looking up the definition of network 100 years ago

[CosmicCowboy]

Thats an old definition

Its like looking up the definition of network 100 years ago
LOL

Seriously? Currency has been around for thousands of years in many forms. "Old definition"

Thats funny.

[Chris]

PyZiVvrJZBI

[AaronY]

If the illuminati really does exist they can come out of the shadows and take over from the orange buffoon directly as far as I'm concerned

[rmt]

Closed at $11,4167 the day you posted this.

Closed at $6,427 yesterday.

Great advice. I hope you took it yourself.


There isn't any loss until one sells :-) I was trading bit coin when it was $400 - do you think something as volatile as bit coin won't get back to $11k. Meanwhile, what a buying opportunity this dip has been.


You are buying at $8000 to speculate????

Damn. Balls of steel.


Balls of stupid.


:lmao the resident half bred Jamaican slut fails again

And here we are back at $11k. Buy when everyone is panicking/selling and sell when high.

[pgardn]

LOL

Seriously? Currency has been around for thousands of years in many forms. "Old definition"

Thats funny.

Hater trades his riculous ideas for cubic feet of unoccupied space between the ears. Frees him up.
This is just straight bartering. He's thinking of using fog as currency for his next purchases.

[pgardn]

And here we are back at $11k. Buy when everyone is panicking/selling and sell when high.

Ahh... the tithing to come.

[rmt]

Ahh... the tithing to come.

That is cheerfully done - unlike the taxes :-(

[boutons_deux]

Number of crypto hedge funds surges amid bitcoin volatility

LONDON (Reuters) - Hedge funds focused on trading cryptocurrencies have struggled to eke out returns this year amid a sharp sell-off in the highly volatile market, in spite of a flood of new funds setting up to deploy investor cash.

The number of crypto hedge funds more than doubled in the four months to Feb. 15, data from fintech research house Autonomous NEXT showed on Thursday.

The research firm recorded a record high of 226 global hedge funds with such a strategy, up from 110 global hedge funds as of Oct. 18.

That itself was up from 55 funds at Aug. 29 and just 37 at the start of 2017.

https://www.reuters.com/article/uk-hedgefunds-bitcoin/number-of-crypto-hedge-funds-surges-amid-bitcoin-volatility-idUSKCN1FZ189

[pgardn]

That is cheerfully done - unlike the taxes :-(

Thats cool with me.

[boutons_deux]

46% of Last Year’s ICOs Have Failed Already

most dubious ICOs don’t exit scam:

they slowly tiptoe away, like a sneak thief rather than a smash-and-grab robber.

Having completed an extensive study into last year’s crowdsales, news.Bitcoin.com can report that 46% of them are effectively dead already – despite raising over $104 million.

The number of ICOs that are still a going concern is actually even lower. An additional 113 ICOs can be classified as “semi-failed”,

This means that 59% of last year’s crowdsales are either confirmed failures or failures-in-the-making.

https://news.bitcoin.com/46-last-years-icos-failed-already/

[boutons_deux]

Days Since A Cryptocurrency Exchange Has Lost More Than $100 Million:


13

http://dayssinceacryptocurrencyexchangehaslostmorethan100 million.com/

[ElNono]

https://www.cnbc.com/2018/02/27/bill-gates-calls-cryptocurrency-super-risky-in-reddit-ama.html

[boutons_deux]

The culture of crypto mining is changing: here’s how

https://thenextweb.com/contributors/2018/03/01/culture-crypto-mining-changing-heres/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+TheNextWeb+%28The+Next+Web+Al l+Stories%29

[Pavlov]

975598812675809280

Hey, you know he's right. The US government couldn't do a damn thing about--

976165501062692864

https://media.giphy.com/media/5NMby7ZZo1jFK/giphy.gif

[spurraider21]

when did clinton invest in bitcoin?

[boutons_deux]

THE NSA WORKED TO “TRACK DOWN” BITCOIN USERS, SNOWDEN DOCUMENTS REVEAL (https://theintercept.com/2018/03/20/the-nsa-worked-to-track-down-bitcoin-users-snowden-documents-reveal/)

Governments, with a vested interest in controlling how money moves, would, some of bitcoin’s fierce advocates believed, naturally try and thwart the coming techno-libertarian financial order.

It turns out the conspiracy theorists were onto something.

Classified documents provided by whistleblower Edward Snowden show that the National Security Agency indeed worked urgently to target bitcoin users around the world — and wielded at least one mysterious source of information to “help track down senders and receivers of Bitcoins (https://theintercept.com/document/2018/03/20/pages-from-oakstar-weekly-2013-03-08),” according to a top-secret passage in an internal NSA report dating to March 2013.

The data source appears to have leveraged the NSA’s ability to harvest and analyze raw, global internet traffic while also exploiting an unnamed software program that purported to offer anonymity to users, according to other documents.

Although the agency was interested in surveilling some competing cryptocurrencies, “Bitcoin is #1 priority,” a March 15, 2013 (https://theintercept.com/document/2018/03/20/pages-from-oakstar-weekly-2013-03-15) internal NSA report stated.

The documents indicate that “tracking down” bitcoin users went well beyond closely examining bitcoin’s public transaction ledger, known as the Blockchain, where users are typically referred to through anonymous identifiers;

the tracking may also have involved gathering intimate details of these users’ computers.

The NSA collected some bitcoin users’ password information, internet activity, and a type of unique device identification number known as a MAC address, a March 29, 2013 NSA memo (https://theintercept.com/document/2018/03/20/pages-from-oakstar-weekly-2013-03-29) suggested.

In the same document, analysts also discussed tracking internet users’ internet addresses, network ports, and timestamps to identify “BITCOIN Targets.”

The agency appears to have wanted even more data:

The March 29 memo raised the question of whether the data source validated its users, and

suggested that the agency retained bitcoin information in a file named “Provider user full.csv.”

It also suggested powerful search capabilities against bitcoin targets,

hinting that the NSA may have been using its XKeyScore searching system,

where (https://theintercept.com/document/2018/03/20/pages-from-oakstar-weekly-2013-03-08) the bitcoin information (https://theintercept.com/document/2018/03/20/pages-from-oakstar-weekly-2013-04-05) and wide range of other NSA data (https://theintercept.com/2015/07/01/nsas-google-worlds-private-communications/) was cataloged, to enhance its information on bitcoin users.

An NSA reference document (https://theintercept.com/document/2018/03/20/entry-from-ssodictionary-v1-0) indicated that the data source provided “user data such as billing information and Internet Protocol addresses.”

With this sort of information in hand, putting a name to a given bitcoin user would be easy.

https://theintercept.com/2018/03/20/the-nsa-worked-to-track-down-bitcoin-users-snowden-documents-reveal/

[boutons_deux]

‘Gut-Wrenching’ Bitcoin Price Decline Driven by Futures Traders: Fundstrat

Fundstrat founder Tom Lee stated that the bitcoin price (http://ccn.com/bitcoin-price) tends to decline leading into futures expiration dates, suggesting that these products are a major driver of bitcoin’s movements.

“Bitcoin sees dramatic price changes around CBOE futures expirations.

This was something flagged by Justin Saslaw at Raptor Group.

We compiled some of the data and this indeed seems to be true,” Lee wrote, according to CNBC (https://www.cnbc.com/2018/06/14/reason-behind-the-recent-bitcoin-sell-off-may-have-just-been-uncovered.html). “Overall, bitcoin has fallen 18 percent in the 10 days prior to CBOE contract expiration.”

“A broader observation is there is significant volatility around these expirations,”

added Lee, a former managing director at JPMorgan. “And on average, the price recovered by day six [following expiration].”

the firm is joining a growing number of voices who have connected futures to the recent market downturn.

Prior to their launch, many investors and analysts believed that bitcoin futures would legitimize cryptocurrency (https://www.ccn.com/cme-bitcoin-futures-exchange-is-officially-live-inflow-of-10-billion-expected/) in the eyes of institutional investors. Instead,

institutions have remained on the sidelines, and an increasing number of researchers have said that these products have — to date — weighed heavily on the market.

As CCN reported (https://www.ccn.com/bitcoin-price-decline-driven-by-q4-futures-launch-fed-researchers-claim/), a recent research report published by the US Federal Reserve suggested that the launch of bitcoin futures triggered the start of the present bear market,

largely because it gave bears their first real opportunity (on a regulated US exchange, anyway) to short the bitcoin price.

However, others allege that the decline has been a natural correction in response to suspicious market activity during last year’s bull run.

Recently, researchers at the University of Texas released a 66-page report (https://www.ccn.com/bitcoin-price-was-manipulated-by-tether-researchers-claim/) suggesting that

Tether’s dollar-pegged USDT token may have been used to artificially inflate the bitcoin price on several exchanges.

https://www.ccn.com/gut-wrenching-bitcoin-price-decline-driven-by-futures-traders-fundstrat/

[boutons_deux]

Cryptocurrency Theft Skyrockets in First Half of 2018

In the first six months of 2018, nearly as much cryptocurrency was stolen as was snatched in all of 2017. More than $750 million in cryptocurrency value has been stolen so far this year.

The criminals who are mounting these attacks on cryptocurrency exchanges are the same thieves who two years or so ago targeted financial institutions with phishing, ransomware and other malware attacks.

According to a new report from security firm CipherTrace, what the cryptocurrency attacks lack is a basic understanding of operational security. The attackers can mount extremely competent attacks against the exchanges because they know cryptocurrencies inside and out.

CipherTrace CEO Dave Jevans explained to Dark Reading (https://www.darkreading.com/threat-intelligence/cryptocurrency-theft-drives-3x-increase-in-money-laundering-/d/d-id/1332212):

It’s clear these people really understand cryptocurrency and crypto assets really, really well.

What they don’t understand is old-school operational security … they’re just not sophisticated that way.

Legacy folks, they definitely have better operational security.

They’re better at how they interface with it, how they distribute malicious code, how they manage user handles on different forums.


CipherTrace estimates that between 100 and 200 gambling websites that accept cryptocurrencies are also used to launder crypto money. Just drop the crypto funds into your account, play a few hands, then empty the account. Pretty simple.



The U.S. Financial Crimes Enforcement Network (FinCEN) that $1.5 billion have been stolen in the past two years in hack attacks on crypto exchanges. FinCEN’s associate director told CipherTrace, “We have seen virtual currency exploited to support billions of dollars in what we would consider suspicious activity.”



https://247wallst.com/technology-3/2018/07/06/cryptocurrency-theft-skyrockets-in-first-half-of-2018/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+typepad%2FRyNm+%2824%2F7+Wall +St.%29

====================

Over 800 cryptocurrencies are now dead as bitcoin is 70 percent off its record high



Over 800 cryptocurrencies are now dead and worth less than one cent.
New digital tokens are created through initial coin offerings but some of these projects have been scams and many have not materialized into real products.
Bitcoin has fallen roughly 70 percent since its record high near $20,000 last year, adding to bearish sentiment around cryptocurrencies.


https://www.cnbc.com/2018/07/02/over-800-cryptocurrencies-are-now-dead-as-bitcoin-feels-pressure.html

[rmt]

Not to worry, if (as RG thinks) there's a crash, bit coin will take off again.

[Fabbs]

WTF?
Would a buy bid at 6K be good?

I don't trust the FEC voters. In banksters back pockets.

[rmt]

WTF?
Would a buy bid at 6K be good?

I don't trust the FEC voters. In banksters back pockets.

I would never say when to buy an investment/speculation - that's up to you. I will say that it seems to me that people seem to have a mental barrier at nice even numbers at say your 6K. It'll get close and bounce back (I don't understand the psychological underpinings) but once it breaks through the barrier, it keeps going (in either direction). At least, that's been my observation fwiw. So if I have a target in mind, I usually put it a little above (when buying) or a little below (when selling).

[FrostKing]

Blockchain is the next big thing in IT

[pgardn]

Berkeley Computer Scientist gives his opinion.
This guy is not stupid. Nick Weaver

start at 3 minutes

https://m.youtube.com/watch?v=xCHab0dNnj4

[MultiTroll]

Buy at 6160?
I say yes.

[Winehole23]

Bitcoin has a bright future behind it:

https://www.seattletimes.com/business/pioneer-of-eastern-washington-cryptocurrency-boom-falls-on-hard-times/

[Winehole23]

Beyond its usability for crime, bitcoin has major design flaws.

Bitcoins are created (or "mined") at predetermined and gradually decreasing rates, with a total limit of 21 million issuable coins. The rate of increase in available bitcoins is not keeping pace with the number of people keen to buy them, so the price of a bitcoin keeps increasing. Because its price increases, both its "miners," whose computers do complex calculations to earn the currency, and those who buy bitcoins from others feel reluctant to use them as currency by spending them. Instead, they sit on their coins while they wait for the price to rise further. With bitcoin supply constrained and increasingly falling short of demand, instead of functioning as a currency, bitcoin is a speculative empty asset.

Then, there are problems with the technology itself.


First, anyone who has access to a bitcoin password (or private key) has the authority to spend the bitcoins it unlocks; loss of the password means loss of all of the associated bitcoins, with no recourse. Second, linear growth in the chain of blocks that make up bitcoin is resulting in exponential growth in the computation necessary to process and verify transactions: Transactions that used to take 10 minutes now take hours. Third, with bitcoin transaction fees hovering above $25, a $5 payment now costs $30. This obviously is not a workable digital currency.

What is most worrisome for the planet is the energy expenditure that verifying transactions now requires. The bitcoin network is reportedly (https://arstechnica.com/tech-policy/2017/12/bitcoins-insane-energy-consumption-explained/) consuming energy at an annual rate of 32TWh -- about as much as the entire nation of Denmark. Each transaction consumes 250kWh, enough energy to power an average Western home for nine days. China has become the dominant bitcoin-mining nation, with its provinces providing ultra-cheap energy to miners.https://www.inc.com/linkedin/vivek-wadhwa/why-bitcoin-largest-ponzi-scheme-human-history-vivek-wadhwa.html

[Winehole23]

Good luck, y'all!

[Winehole23]

Tether, you had one job...

https://pbs.twimg.com/media/Dp7nlUIXQAAp8qp.jpg

[Winehole23]

one of the best articles I've seen so far:


The government-backed banking system provides FDIC guarantees, reversibility of ACH, identity verification, audit standards, and an investigation system when things go wrong. Bitcoin, by design, has none of these things. I saw a remarkable message thread by someone whose bitcoin account got drained because their email had been hacked and their password was stolen. They were stunned to have no recourse! And this is widespread — in 2014, the then-#1 bitcoin trader, Mt. Gox, also lost $400m of investor money due to security failures. The subsequent #1 bitcoin trader, Bitfinex, also shut down after a loss of customer funds. Imagine the world if more banks had been drained of customer funds than not. Bitcoin is what banking looked like in the middle ages — “here’s your libertarian paradise, have a nice day.”

https://hackernoon.com/ten-years-in-nobody-has-come-up-with-a-use-case-for-blockchain-ee98c180100

[hater]

Well duh we know bitcoin has no guarantees and its very risky.

Still its a great investment tbqh for diversification purposes as well as making $ on the side

Of course idiots are going to get hacked and lose their passwords :lol tough luck tbqh

I would not put my life savings into bitcoin. Nobody should. And if retards do and lose it all

:lmao its on them

[Winehole23]

https://pbs.twimg.com/media/DnUbhtaUcAA4cAD.jpg

[Nathan89]

Odds are it will boom again. It still has a loyal following and a long stagnant period is a decent time to invest. As soon as it gets some upward movement the loyal following will enter full hype mode. They'll be saying Bitcoin going to 50k and on the way up it'll hit all the news cycles. Which will get all the normal people on the "get rich quick" Bitcoin train. Or it's next move could be bust. Because that is also the eventual likelihood. But there are probably more high swings in the future.

[Reck]

Odds are it will boom again. It still has a loyal following and a long stagnant period is a decent time to invest. As soon as it gets some upward movement the loyal following will enter full hype mode. They'll be saying Bitcoin going to 50k and on the way up it'll hit all the news cycles. Which will get all the normal people on the "get rich quick" Bitcoin train. Or it's next move could be bust. Because that is also the eventual likelihood. But there are probably more high swings in the future.

You're one of those suckers hater (https://www.spurstalk.com/forums/member.php?u=7609) alluded to. :lol

You could gift me 100 free bitcoins to get started and I would still pass.

[Winehole23]

Odds are it will boom or bust. Great advice.

[Pavlov]

Odds are it will boom or bust. Great advice.CALLED IT

[FrostKing]

She's cute, might hit it

[Winehole23]

Go rawdog a Dyson, asshole

[Nathan89]

I put that in there so nobody would make a decision based off that shit.

[Winehole23]

She's cute, might hit it


https://cdn.thewirecutter.com/wp-content/uploads/2017/11/handheldvacuums-2x1-7717.jpg (https://thewirecutter.com/reviews/best-handheld-vacuum/)

[rmt]

You're one of those suckers hater (https://www.spurstalk.com/forums/member.php?u=7609) alluded to. :lol

You could gift me 100 free bitcoins to get started and I would still pass.

Now, why would anyone pass on the equivalent of $640,000? Put the 100 free bitcoins in Coinbase and cash out immediately - pay the taxes and invest the rest elsewhere (if you're so scared of bitcoin).

[boutons_deux]

Energy cost of 'mining' bitcoin more than twice that of copper or gold

New research reveals that cryptocurrencies require far more electricity per-dollar than it takes to mine most real metals

The amount of energy required to “mine” one dollar’s worth of bitcoin is

more than twice that required to mine the same value of copper, gold or platinum

One dollar’s worth of bitcoin takes about 17 megajoules of energy to mine,

compared with four, five and seven megajoules for copper, gold and platinum.

https://www.theguardian.com/technology/2018/nov/05/energy-cost-of-mining-bitcoin-more-than-twice-that-of-copper-or-gold

[Splits]

Buy at 6160?
I say yes.

https://pbs.twimg.com/media/Ds8I_5gWkAAU7Qr.jpg:large

[Pavlov]

https://pbs.twimg.com/media/Ds8I_5gWkAAU7Qr.jpg:largeGonna need more donut coupons.

[MultiTroll]

Bailed on Nov 7th at 6500 faggots.
:lol

[MultiTroll]

Odds are it will boom again. But there are probably more high swings in the future.
I know a lot that had sell in orders at 5K last week and it peaked at 4998 :rollin
Holding on to recoup losses still looks good long term to me.
But if someone wanted to bail when they hit their buy in price that's a thought.
We got into a smaller coin that tripled, but is now down below what we paid. What you do is cash out what you put in, keep the rest in and it's like house money.

But ya this is pretty shocking.

[Pavlov]

Bailed on Nov 7th at 6500 faggots.
:lolOf course you did. You told us all when it happened, right?

[MultiTroll]

Of course you did. You told us all when it happened, right?
No I don't involve you in my financial decisions. :lol

[Pavlov]

No I don't involve you in my financial decisions. :lolYou told everyone when to buy:lmao

[MultiTroll]

You told everyone when to buy:lmao
It could still be a great buy. Just might take longer.

[Pavlov]

It could still be a great buy. Just might take longer.:rollin

Are you buying now?

Which method did you use for buying and selling last time?

[MultiTroll]

:rollin

Are you buying now?

Which method did you use for buying and selling last time?
I'm buying pot stocks now. And holding the smaller coin I bought.

Bitcoin went down much farther then I thought it would. There that should provide you some fapping material.

[Pavlov]

I'm buying pot stocks now. And holding the smaller coin I bought.

Bitcoin went down much farther then I thought it would. There that should provide you some fapping material.

Which method did you use for buying and selling last time?

[hater]

Good opportunity here if you can find the bottom thqh

Ppl say this is the bottom, other ppl say if it goes down to 3k ppl will panic and it will drop to < 2k

I hole that happens thats when Ill buy

[Splits]

https://twitter.com/oliver_drk/status/1081709607129698305

gotta watch till the end...

[Pavlov]

https://twitter.com/oliver_drk/status/1081709607129698305

gotta watch till the end...:lmao

Also, why is he casting from his bedroom?

[boutons_deux]

:lmao

Also, why is he casting from his bedroom?

looks like a hotel room, whores haven't arrived yet

[Pavlov]

Helluva a place to tape a commercial.