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  1. #1
    Mr. John Wayne CosmicCowboy's Avatar
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    It's a pretty interesting concept.

  2. #2
    Mr. John Wayne CosmicCowboy's Avatar
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    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.

  3. #3
    I play pretty, no? TeyshaBlue's Avatar
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    I dont unserstand the valuation methodology enough to form an opinion....that and the whole mining thing.

  4. #4
    Mr. John Wayne CosmicCowboy's Avatar
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    I think the mining thing is past history. It's reached critical mass where ROI is pretty slim.

  5. #5
    🏆🏆🏆🏆🏆 ElNono's Avatar
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    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

  6. #6
    Deandre Jordan Sucks m>s's Avatar
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    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 re s 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 compe ion 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.

  7. #7
    Veteran Wild Cobra's Avatar
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    It's a pretty interesting concept.
    Don't you mean bit-con?

  8. #8
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    You're about 2 years late with this thread.

  9. #9
    🏆🏆🏆🏆🏆 ElNono's Avatar
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    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.

  10. #10
    絶対領域が大好きなんだよ baseline bum's Avatar
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    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 , 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 , 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 . Warranty service must have cost them huge too with people running them at 100% 24/7 for months.
    Last edited by baseline bum; 03-29-2015 at 09:26 PM.

  11. #11
    Mr. John Wayne CosmicCowboy's Avatar
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    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.

  12. #12
    Deandre Jordan Sucks m>s's Avatar
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    ^gambling is exactly what you'd be doing with coin. just research and find some good companies that look undervalued if you have extra money to play with.

  13. #13
    Homer 2centsworth's Avatar
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    You should be bankrupt by now since you bet the farm and shorted treasuries when Obama took office.

  14. #14
    Mr. John Wayne CosmicCowboy's Avatar
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    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.

  15. #15
    Veteran cantthinkofanything's Avatar
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    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.

  16. #16
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    Former U.S. agents charged for Bitcoin theft during black market probe

    http://www.reuters.com/article/2015/03/30/us-usa-justice-bitcoin-theft-idUSKBN0MQ1UF20150330?feedType=RSS&feedName=domest icNews

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


  17. #17
    Mr. John Wayne CosmicCowboy's Avatar
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    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.

  18. #18
    Veteran cantthinkofanything's Avatar
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    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.

  19. #19
    Got Woke? DMC's Avatar
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    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.

  20. #20
    🏆🏆🏆🏆🏆 ElNono's Avatar
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    Took the words right out of my mouth.

  21. #21
    Homer 2centsworth's Avatar
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    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.

  22. #22
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    "back peddle from their hyperinflation predictions."

    Repugs are always wrong on everything, always lying

    hyperinflation from QE?

    hyperfinflaton from Obama's stimulus?

    ACA would DESTROY America?

    Fix The Debt?

    Ebola and ISIS were coming to kill us all?

    voter suppression to protect the sanc y of the vote?

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



  23. #23
    Mr. John Wayne CosmicCowboy's Avatar
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    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.
    Last edited by CosmicCowboy; 03-31-2015 at 05:54 AM.

  24. #24
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    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.

  25. #25
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    "back peddle from their hyperinflation predictions."

    Repugs are always wrong on everything, always lying

    hyperinflation from QE?

    hyperfinflaton from Obama's stimulus?

    ACA would DESTROY America?

    Fix The Debt?

    Ebola and ISIS were coming to kill us all?

    voter suppression to protect the sanc y of the vote?

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


    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/articl...ter-than-wages
    http://www.sfgate.com/technology/bus...ig-6171649.php
    http://nypost.com/2015/02/18/nycs-mo...-is-300kmonth/
    http://nypost.com/2015/02/19/vice-ce...-in-las-vegas/

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