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04-11-2013, 08:33 PM | #46 | |
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Join Date: Dec 2002
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Quote:
Thats probably the only thing worthwhile about bitcoin, you can use your computer to try to earn a tiny fraction of a bitcoin per day, and then sell them to speculators for real money until this bubble pops. At this point though, the difficulty level for earning bitcoins has been raised so much, that it wont pay the electric bill for the watts your CPU is burning trying to earn them. I'm not even bothering to switch from giving my computer cycles away for free in BOINC. If you leave your computer on running idle 24/7 even when you aren't using it, it still might be worth doing. At these current high exchange rates, if you join a mining pool you might make enough fractions of a bitcoin to buy a coke each week or two. |
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Posts: 36,130
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04-11-2013, 09:14 PM | #47 | |
Starter
Join Date: Nov 2009
Location: Kansas/bama
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I bought 62 of these when they were trading for $116 and sold them when the were @ $203. The market right now says anywhere from 70 to 100 and that depends on if you can get the bitcoins privately or publicly. I use https://mtgox.com/ if you are interested. This isn't for everybody and here is a brief introduction to bitcoins:
http://blog.bitcointitan.com/post/17...as-commodities Quote:
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Posts: 986
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04-11-2013, 10:33 PM | #48 | |
Arrowhead Trail of Tears
Join Date: Oct 2012
Location: KansasCity
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Quote:
https://btc-e.com/ |
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Posts: 29,366
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04-11-2013, 10:40 PM | #49 |
Banned
Join Date: Jan 2004
Location: Thigpen's America
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I use bitcoins to buy all my gold and Glenn Beck t-shirts.
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Posts: 25,680
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04-11-2013, 11:15 PM | #50 |
special teams
Join Date: Aug 2003
Location: Mesa AZ
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so how you all doing now?
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Posts: 12,018
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04-12-2013, 03:21 PM | #51 |
Most Valuable Poster
Join Date: Oct 2003
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AustinChief or others - What do you think of this PC for bitcoin mining?
http://www.butterflylabs.com/landing/ Or the Avalon ASICS? http://store.avalon-asics.com/?product=avalon-asic-unit They both are out of stock right now... Does mining over GoogleFiber provide any advantages with bitcoin mining? Last edited by teedubya; 04-12-2013 at 03:27 PM.. |
Posts: 36,719
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04-12-2013, 04:24 PM | #52 |
Starter
Join Date: Nov 2009
Location: Kansas/bama
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....
you can make 10-15% by just reselling. shit, if you bought bitcoins @ $60 yesterday you could have sold them today and made profit. |
Posts: 986
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04-12-2013, 04:28 PM | #53 |
Everybody Lies.
Join Date: Aug 2010
Location: 22 Acacia Avenue
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For whatever reason, I read the thread title as if a foreigner was offering me a Bitcoin.
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Posts: 17,539
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04-12-2013, 04:39 PM | #54 | |
Administrator
Join Date: Aug 2000
Location: Austin
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Quote:
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Posts: 19,834
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04-12-2013, 04:43 PM | #55 | |
lurker
Join Date: Sep 2003
Location: home
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Quote:
I'd be extremely weary of investing. |
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Posts: 1,357
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04-12-2013, 05:14 PM | #56 | |
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Join Date: Dec 2002
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Quote:
Nobody runs bitcoin. Its just out there. Its still probably not a good investment. |
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Posts: 36,130
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11-18-2013, 11:06 AM | #57 |
Veteran
Join Date: Feb 2012
Location: DE
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Posts: 3,818
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11-18-2013, 12:14 PM | #58 |
The End of All Your Dreams
Join Date: Apr 2006
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Ive heard that if you bought bitcoin 2 years ago, they would be worth at least 10 times that now.
No? |
Posts: 49,052
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11-18-2013, 12:25 PM | #59 |
For The Glory Of The City
Join Date: Sep 2002
Location: Kansas City
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U.S. Agencies to Say Bitcoins Offer Legitimate Benefits
http://www.bloomberg.com/news/2013-1...-benefits.html The Department of Justice and Securities and Exchange Commission are telling a U.S. Senate committee that Bitcoins are legitimate financial instruments, boosting prospects for wider acceptance of the virtual currency. Representatives from the agencies told the U.S. Senate Committee on Homeland Security and Governmental Affairs ahead of a hearing today that the digital money offers benefits and carries risks, like any other online-payment system, according to letters they released before the meeting. The committee scheduled the hearing “to explore potential promises and risks related to virtual currency for the federal government and society at large” after the Silk Road Hidden Website was shut down in October. The closing of the marketplace, where people could obtain drugs, guns and other illicit goods using Bitcoins, is helping fuel a rally in the virtual currency as speculators bet that the digital money will gain more mainstream acceptance. “The FBI’s approach to virtual currencies is guided by a recognition that online payment systems, both centralized and decentralized, offer legitimate financial services,” Peter Kadzik, principal deputy assistant attorney general, wrote in a letter yesterday. “Like any financial service, virtual currency systems of either type can be exploited by malicious actors, but centralized and decentralized online payment systems can vary significantly in the types and degrees of illicit financial risk they pose.” Virtual Money Introduced in 2008 by a programmer or group of programmers going under the name of Satoshi Nakamoto, Bitcoin is being used to pay for everything from gourmet coffee to smartphones on the Internet. There are almost 12 million Bitcoins in circulation, according to Bitcoincharts, a website that tracks activity across various exchanges. SEC Chairman Mary Jo White said in a letter yesterday that the coins “likely would be securities and therefore subject to our regulation.’ Bitcoins reached a record high and were trading for $509 apiece at 8:57 a.m. on Bitstamp, one of the more active online exchanges, where the digital money is traded for dollars, euros and other currencies. The virtual currency is up more than 30-fold so far this year. ‘‘Two years ago it was alarm when Silk Road first came on the scene,’’ said Jerry Brito, senior research fellow at the Mercatus Center at George Mason University who is also testifying in front of the committee today. ‘‘Since then, Congress has been educating itself and understands that there are great potential benefits, and like any new technology there are going to be some challenges. But they see there is a balance to be struck here and they are generally positive on the technology.’’ Gaining Acceptance Since the virtual currency exists as software that’s designed to be untraceable, it’s an attractive tender for those seeking to transact anonymously via the Web. While the closing of Silk Road initially caused the digital money to lose a third of its value within days, have recovered and rallied to record levels as speculators and investors bet that the currency will be less of a fad and gain more mainstream acceptance. Ben Bernanke, chairman of the Federal Reserve, is also weighing in on the hearing, saying that it has no plans to regulate the currency. ‘‘Although the Federal Reserve generally monitors developments in virtual currencies and other payments system innovations, it does not necessarily have authority to directly supervise or regulate these innovations or the entities that provide them to the market,” Bernanke wrote in a letter to the committee. The hearings will bolster the view that Bitcoins are an acceptable alternate means of conducting transactions, and that their use will grow, said Brito. “These hearings means Bitcoin is finally coming into its own; it’s a real thing and it’s not going anywhere and these hearings highlight that,” he said. |
Posts: 54,009
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11-18-2013, 12:40 PM | #60 |
Beyond the Rapids
Join Date: May 2003
Location: Langley, VA
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Here's an idea: Why don't you give me half the money your were gonna to invest, then we'll go out back, I'll kick you in the nuts, and we'll call it a day?
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Posts: 80,659
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11-18-2013, 02:17 PM |
ChiefRocka |
This message has been deleted by ChiefRocka.
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