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 Replies: 19 / Views: 5,212 |
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Pillar of the Community
Canada
2019 Posts |
Dont have any, not sure I want any either considering you need bigger and more powerful computers just to keep up with the mining.
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Valued Member
United States
264 Posts |
I dumped my Litecoins before the dive. Please note that I never bought a single crypto-coin and do not advocate them as investments. Rather, I am a miner who just pumped & dumped.  |
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Valued Member
Canada
442 Posts |
I remember hearing of them back when they were about $2 dollars a piece. Too bad stupid me is a stubborn mule and just couldn't wrap my head around algorithm mining and the like.
Oh well, easy come easy go I guess. Btw, what do you guys use to track bitcoin price? mt gox is down, and I'm trying to find an alternative.
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Valued Member
United States
264 Posts |
Well that is the reason for the drop in price... mostly. Mt. Gox was the primary trading platform and there was to much upward demand to keep up so it crashed. Going forward, other free market companies are coming in to fill the gap. I say give it 30 days and the craze will be back, maybe stronger than ever. Many in the Bitcoin community see this as growing pains. Remember, the market is still alive. Right now people are still trading these coins for barter outside of BTC/USD trades. This is not the end, just a event. Does anyone remember BATS or am I alone in wanting to make a correlation to the DJI? |
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Pillar of the Community
5464 Posts |
If I was organized crime, a drug cartel or the PDRK, I would use bitcoin to launder money.
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Moderator
 United States
34431 Posts |
Interesting thread to reboot @ussis18! I wonder if @fat freddy still agrees with what he wrote back in 2013: Quote:
I think your move was prudent and timely. "If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Bedrock of the Community
13014 Posts |
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If I was organized crime, a drug cartel or the PDRK, I would use bitcoin to launder money. North Korea is aggressively targeting the exchanges, they succeeded against one of the South Korean ones and brought it down after wiping it out earlier in the week which is when the drop started. Assuming the exchanges can fend off hacking there will be a future for it, the only question is at what price Edited by basebal21
12/23/2017 12:01 am
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Pillar of the Community
5464 Posts |
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North Korea is aggressively targeting the exchanges, they succeeded against one of the South Korean ones and brought it down after wiping it out earlier in the week which is one the drop started. It's only a matter of time before we hit them with a major cyberattack and shut their lights off for good! Edited by USSID18
12/22/2017 11:54 pm
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Pillar of the Community
United States
3479 Posts |
Quote:
Interesting thread to reboot @ussis18! I wonder if @fat freddy still agrees with what he wrote back in 2013: Hindsight is ALWAYS 20/20. Edited by MikeF
12/23/2017 12:25 am
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Pillar of the Community
United States
3789 Posts |
One thing I must say is this-
GOLD is NOT going down in price because of bitcoin, for the love god, I have no respect for anyone who says that or believes it. I dont care if anyone gets offended by that or not either, just stop, saying that really says a lot of ones intelligence.
Cryptos are their own SEPARATE asset classes, nothing more nothing less. Cryptos are here to stay, they are not going away, as time goes on the will become ubiquitous like rabbits and are just another way of converting cash to make payments. they have ZERO connection or impact on gold or any other asset class. Also, as time goes on, cryptos will become more stable and their true market value will become apparent.
one should embrace this new asset class, this new form of payment.
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Pillar of the Community
5464 Posts |
Quote:
Interesting thread to reboot @ussis18! I wonder if @fat freddy still agrees with what he wrote back in 2013:
Looks like Fat Freddy hasn't been here since 04/15/2014. |
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Pillar of the Community
United Kingdom
2624 Posts |
Funny I was thinking of doing something with my coins... (I mined some Bitcoin, Litecoin, Feathercoin and Dogecoin many years back when it was much easier) it has always been super volatile though and I am not particularly worried by that bump in the road which was caused by a big sell off.
I was only thinking of selling as I want the money for something else, if I can afford to hold on I will keep longterm. I am stood in at about £300 per coin for the electricity so I am freerolling and really it is all good news recently where its concerned.
First Japan officially recognised it as a bona fide currency, Putin came out in favour too which is a switch up really as far as the Russian attitude to it goes and Wall Street started trading futures. I think with such a finite commodity and such a large demand worldwide the bubble has a long way to go before it properly bursts but only time will tell.
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Valued Member
Taiwan
192 Posts |
I'm neither expert in economy nor cryptos but I agree with DavidUK, the bubble of Bitcoin won't burst anytime soon. Not so sure with other cryptos though.
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Valued Member
United States
456 Posts |
Quote:
the bubble of Bitcoin won't burst anytime soon. Not so sure with other cryptos though. I was curious about these cryptos so I played around on an exchange to learn a little more. The miner fee for a bitcoin transfer, of any size as far as I could tell was over $26. That's not bad if you're buying a car, but it kind of stinks if you're sending someone a hundred bucks. The other cryptos had nominal fees but nothing like bitcoin. It cost almost nothing to transfer BTH to another wallet. This BTC run-up has attracted a lot of attention for the cryptos, but it may be the downfall of BTC as well. The backlog and miner fee auctions are a lot to overcome. |
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Valued Member
United States
456 Posts |
According to Bloomberg, 1000 individuals own 40% of all bitcoin and thus bitcoin cash after the Aug 1 fork as well. I was studying and participating in a couple of distributed computing projects when bitcoin came onto the stage. I set up a couple of CPUs tasked with mining using a local wallet.dat file. I grew bored with it before too long and put the CPU cycles back toward finding the next largest Mersenne prime number. I searched every scrap of media in my possession for that wallet.dat file after this spike, but unfortunately for me it wasn't something that I archived. After careful thought, I would classify bitcoin as a commodity more than a currency. It consists of wasted processing cycles and electricity. That is essentially what we're trading isn't it? I don't mean to endorse or promote this site, but they have some insight into the real world impact of the new crypto currency we're rushing to adopt. https://digiconomist.net/bitcoin-en...-consumption |
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Posted 04/12/2013 08:30 am
