Bitcoin and other crypto currency......
- Thread starter UK_Dallas
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Big thing in such a scenario is capital outlay for panels. Solar can work in that area for supplemental energy, but we're talking some $. I was thinking of around 5-7K just for the GPU cards + CPUs, and scaling up on the cheap side.
Don't feel bad, I don't understand a lot. The confusing part is that they use terms that don't really fit for what's really being done.
Basically, here's what it comes down to.
Blockchain - What it should really be called is ledger. That's all it is. A ledger that documents and keeps up with the transactions going back and forth.
Mining - What it should really be called is computing. With these transactions taking place, there has to be computers able to process and solve the complex algorithms. Since BTC is decentralized (the main reason people want it) there are no central computers to do the calculations. So it comes down to the community to do it. This is where the original miners came in. People who could do it with one computer. But Bitcoin was worthless then. But with every transaction that your computer could verify, you would be awarded BTC. I think it's 12.5 which is worth over 200,000 dollars at current market value.
But that was then. Now companies buy huge warehouses and mine 24/7. If a regular user were to do it now, you would lose money on the electric used to run the PC to mine.
But once you verify (mine) the transaction it goes to the ledger (blockchain) and this is how every transaction is securely approved and keeps people from cheating others.
Hope that makes sense...
A
anon_l8pbkn96tg3j6
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Every trip to the bank since getting into crypto has felt like an endless string of facepalms.
People standing in lines. Greeters directing me to a cash machine. Cash machines sitting out in public just waiting to be tampered with. Checks with my literal account number on them. ATM withdraw was greater than my limit, have to go talk to a person to have access to my money. Scribbling on a piece of paper to verify transactions . . . etc.
Once you understand crypto, all of these things are stone age retarded.
People standing in lines. Greeters directing me to a cash machine. Cash machines sitting out in public just waiting to be tampered with. Checks with my literal account number on them. ATM withdraw was greater than my limit, have to go talk to a person to have access to my money. Scribbling on a piece of paper to verify transactions . . . etc.
Once you understand crypto, all of these things are stone age retarded.
Uranium is not used just for Nukes. I think that is part of a cover to build power supplies to super computers for AI and crypto currency mining. Bitcoin is exploding right after Sophia's big debut and I don't think it is a coincidence that Sophia has citizenship in Saudi where it can be taxed. The world is changing really fast.
We have been using cryptocurrency in Eastern Kentucky since the 60’s
That makes more sense.
So basically these super computers are creating the future AI controlled e-world (that will eventually make humans obsolete and probably murder them...) and the bitcoins were just created because who doesn't want free money.
I wouldn’t say you listened to the smart guys as Jamie Dimon is exceptionally intelligent. You listened to the smart person you agreed with.
No I listened to the smart guys that actually understand blockchain technology. Dimon is a banker and doesn't understand how it works, or the advantages of cryptocurrancies. That's what I was trying to say.
I think Jamie Dimon knows all about blockchain technology. It’s a fantastic technology for banks. Crypto-Currency is not a requirement for blockchain. I think blockchain would be a great way to store deeds to land and autos.
I should note, I’m not a skeptic of crypto-currency, but I am very skeptical of current valuations.
I should note, I’m not a skeptic of crypto-currency, but I am very skeptical of current valuations.
So if you invest in Bitcoin, make a fortune then want to cash out, can you get like actual "cash" as in greenbacks, or just more Bitcoin?
You can buy and sell bitcoin to $USD using virtual wallets like coinbase.com The transaction is made at the exchange rate in effect at the time your order is entered but it may take some time to complete.
Looks like the speculations were somewhat true except the DOJ/FBI has yet to disclose how much they confiscated so far but Bulgaria has.
Bulgaria Government Shocked To Discover It Owns $3 Billion In Bitcoin
Bulgaria’s GDP is about $52.4 billion (2016), so it is quite a shock that the Bulgarian Government is sitting on an [URL='https://www.coindesk.com/bulgarian-government-sitting-3-billion-bitcoin/amp/?__twitter_impression=true']approximate $3 billion worth of Bitcoins seized in an anti-corruption operation back in May.[/URL]
Bulgaria Government Shocked To Discover It Owns $3 Billion In Bitcoin
Bulgaria’s GDP is about $52.4 billion (2016), so it is quite a shock that the Bulgarian Government is sitting on an [URL='https://www.coindesk.com/bulgarian-government-sitting-3-billion-bitcoin/amp/?__twitter_impression=true']approximate $3 billion worth of Bitcoins seized in an anti-corruption operation back in May.[/URL]
The new penny stocks.It's also fun to play around with the newer ones that are super cheap.
These are the current fastest climbers. Motocoin is currently 1.6 cents a coin. If you bought a 100 now and it exploded some day...you would be rich. But it's not likely.
The ballpark recommendation for investing in cryptos that I followed is about 5% of your liquid network. I think 10% would be the max anyone should put in crytpos, beyond that then yes you would be following a greed strategy that could backfire on you.
The inventor right here in the Paddock? Where have you been?
Another cryptocurrency matrix.
Yesterday, eMark (DEM) was on top. One can operate this space like a business using pooled mining (distributed) and tax write-offs for equipment. Power remains an x-factor, along with heat in southern climates like ours.
I'm still looking at it hard.
Yesterday, eMark (DEM) was on top. One can operate this space like a business using pooled mining (distributed) and tax write-offs for equipment. Power remains an x-factor, along with heat in southern climates like ours.
I'm still looking at it hard.
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Saw a picture of a guy in Siberia wearing shorts and a Hawaiian shirt in front of a bunch of servers mining crypto. He was talking about the heat and how good Siberia is for mining. Is this the sure sign of a bubble?
The columns are fairly straightforward but I'm lost with the currency stats and why the urgency and quantity? Seems as pointless as gold or bonds right now but who can argue with the demand or the returns?
That guy is a great Twitter follow. I pretty sure he also runs a handle called Wu Tang Finance that is good too.
If anyone is interested in trading Crypto Currency you can receive $10 in bitcoin for signing up and trading $100 on Coinbase. https://www.coinbase.com/join/5a1487d5ec83910334bc6f4e
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I've just recently started investing in Crypto's. What made me a believer was going to https://coinmarketcap.com/ and looking at the price of the top 100 crypto's today compared to their price 1 year ago. My jaw hit the floor. More and more money is being pumped into the crypto market everyday and I doubt its gonna stop anytime soon. I'm invested in Ethos, PowerLedger, iota, Cardano and TenX.
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^that is ridiculous.
I bought a few litecoin right around the time this thread started, just because curiosity had got the best of me over the last few months... and for an investment less than $500, I was a nervous wreck.
I bought a few litecoin right around the time this thread started, just because curiosity had got the best of me over the last few months... and for an investment less than $500, I was a nervous wreck.
If an investment of less than $500 makes you a nervous wreck, you shouldn't be investing at all. I'm serious. Keep it in your savings account or a CD.
Anyone investing/gambling on margin is playing a suckers game.
Old, retired stockbroker told me many years ago margins are the reason folks jump out of windows.
Dumb question, is there an easy way to short Bitcoin? What site to use? Or can my brokers do that for me?
Obviously I missed the upswing and props to you guys if you hit it. I’m pretty hands off with my investment portfolio but generally always felt if there’s a stampede in one direction it’s time to head the other way.
Obviously I missed the upswing and props to you guys if you hit it. I’m pretty hands off with my investment portfolio but generally always felt if there’s a stampede in one direction it’s time to head the other way.
Wouldn't short bitcoin. There is only a max supply of 21,000,000 bitcoin that will ever be distributed. Its just scratching the surface of what it will be in the coming years.
The Chicago Mercantile Exchange is in the process of offering derivatives on bit coin, so you should be able to take a short position there in the near future but I would be very careful. IMHO all the fundamentals are bullish for the long term, not saying it couldn't drop 20% in one day as it certainly could but you're swimming against a strong current.
