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Old 02-15-2013, 10:41 AM  
ChiefRocka ChiefRocka is offline
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Bitcoin Take?

Always love to bounce this kind of stuff off the Planet. Have any of you done any research into Bitcoin, and if you hold any opinions on the concept I'd love to hear what you think.

Last edited by ChiefRocka; 03-03-2013 at 11:00 AM..
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Old 04-06-2013, 01:04 PM   #16
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Here is a pretty good, if long, take: https://medium.com/money-banking/2b5ef79482cb
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Old 04-06-2013, 02:34 PM   #17
AustinChief AustinChief is offline
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With the new ASIC hardware coming out later this month... bitcoin mining is going to explode. In theory, a $10k investment in hardware would pay itself off in less then a month and be all profit from there on out. Of course you only would have a year or two max to make that profit in... but hell if it is 20 months of $10k+ profit, that's not too shabby.
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Old 04-06-2013, 02:38 PM   #18
Hog Farmer Hog Farmer is offline
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Bump?
My brother is talking to me about mining. Anyone got advice/info?

Yes. Wear a helment.
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Old 04-06-2013, 03:36 PM   #19
WhitiE WhitiE is offline
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Yes. Wear a helment.
The light on the front optional?
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Old 04-06-2013, 03:37 PM   #20
AustinChief AustinChief is offline
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The light on the front optional?
no way! that is mandatory!
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Old 04-06-2013, 03:40 PM   #21
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I guess ill just duct tape my flashlight....
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Old 04-06-2013, 03:42 PM   #22
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With the new ASIC hardware coming out later this month... bitcoin mining is going to explode. In theory, a $10k investment in hardware would pay itself off in less then a month and be all profit from there on out. Of course you only would have a year or two max to make that profit in... but hell if it is 20 months of $10k+ profit, that's not too shabby.
My brother is wanting to buy two of the ACIS from BFL. He said theres a waiting list so he is looking for other options
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Old 04-06-2013, 03:50 PM   #23
Count Zarth Count Zarth is online now
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It's great for buying drugs and underage pr0n on the deep web.

You're burning money if you invest for any other reason.
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Old 04-06-2013, 04:04 PM   #24
AustinChief AustinChief is offline
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It's great for buying drugs and underage pr0n on the deep web.

You're burning money if you invest for any other reason.
Unless you are mining.. in which case you are "creating" money.. so long as there is a market for it... and until it hits its cap in a few years (or more)
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Old 04-06-2013, 04:10 PM   #25
Count Zarth Count Zarth is online now
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Aren't the electricity costs prohibitive?
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Old 04-06-2013, 04:20 PM   #26
AustinChief AustinChief is offline
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Aren't the electricity costs prohibitive?
not with the new ASICs but yeah in the past you ate up all your profits by running a crapload of high wattage GPUs. I think the current gen ones coming out in Late April will cost less then $1/day to run. Which is why I expect an explosion in miners.
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Old 04-06-2013, 05:39 PM   #27
WhitiE WhitiE is offline
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not with the new ASICs but yeah in the past you ate up all your profits by running a crapload of high wattage GPUs. I think the current gen ones coming out in Late April will cost less then $1/day to run. Which is why I expect an explosion in miners.
Thanks for a little info AC
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Old 04-10-2013, 08:15 PM   #28
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Wow.... Bitcoin is kinda going crazy right now.

Quote:
Bitcoin, the digital currency, lost more than $160 (104) in value on Wednesday, just hours after hitting a record high.

The currency hit a new high of $266 before falling to $105 and then bouncing back to $130. The fall is unlikely to put off speculators. Two months ago, a Bitcoin was worth $20.

http://www.guardian.co.uk/technology...igh-losing-160
I just looked at my Bitcoin balance... I've made several hundred dollars on the value of my Bitcoins.. Sounds like if I would have checked yesterday and cashed some out, I would have had twice as much.. When I bought Bitcoins, I only paid $20 a piece..
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Old 04-10-2013, 08:17 PM   #29
Simply Red Simply Red is offline
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Old 04-10-2013, 08:19 PM   #30
Simply Red Simply Red is offline
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not with the new ASICs
Onitsuka Tigers for the win...
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