thebug Posted April 7, 2017 Posted April 7, 2017 And what are your 78 worth? Not as much as Skooby's BMW but pretty darn close! Quote
jr1 Posted April 7, 2017 Posted April 7, 2017 we were told to buy gold and silver coins because of our "debased currency" now we're told to buy this crap Quote
Miyagi-Do Karate Posted April 7, 2017 Posted April 7, 2017 Can you get the black lung if you mine too much? I am just picturing this ash-covered miner, picking away at these little gold nuggets of bitcoin. Quote
row_33 Posted April 7, 2017 Posted April 7, 2017 As one who works in investigating fraud, sometimes defending the accused, I see down the road fantastic opportunities for case work... Quote
thebug Posted April 7, 2017 Posted April 7, 2017 As one who works in investigating fraud, sometimes defending the accused, I see down the road fantastic opportunities for case work... Bought mine in 2013 for !@#$ all and have sold a bunch so even if my 78 (which are worth close to $1600.00 can each) fall off the face of the earth and get me nothing, I still made money. Now having said that. Nobody is paying close to $1600 can right now. I can sell them all tomorrow for $1200.00 each but I am in wait and see mode. Gotta love the speculation business! Quote
/dev/null Posted April 7, 2017 Posted April 7, 2017 I've looked into BTC but the the electricity cost to value of coins mined ratio represents a net loss Quote
Best Player Available Posted April 7, 2017 Posted April 7, 2017 I heard you can also use them to buy Amway products. Quote
PromoTheRobot Posted April 7, 2017 Posted April 7, 2017 I tried to purchase some bitcoin a while back and gave up. Not only is the process convoluted but you get boned on exchange rates. For example this site wanted you to buy gift cards with cash, but after the transaction you are left with a third of the value in bitcoin. No thanks. Quote
row_33 Posted April 7, 2017 Posted April 7, 2017 A few colleagues realized the mining would lead to a huge demand in certain computer products and made a decent return on stocking up on the cards, I don't know the specifics as I'm not of that world... Quote
unbillievable Posted April 7, 2017 Posted April 7, 2017 Bitcoin is like speculating on comic books or action figures. Right now they're hot, but it's only worth what a collector is willing to pay. At it's core, it's a pyramid scheme; only the early adopters get rich. The rest are just shuffling money around. Quote
row_33 Posted April 7, 2017 Posted April 7, 2017 Bitcoin is like speculating on comic books or action figures. Right now they're hot, but it's only worth what a collector is willing to pay. At it's core, it's a pyramid scheme; only the early adopters get rich. The rest are just shuffling money around. and one day coming up... blip... and it's all gone into 3 people's pockets... Quote
Simon Posted April 7, 2017 Posted April 7, 2017 Wait...so now bitcoin is a verb? Maybe he meant bite coin? Quote
Foxx Posted April 7, 2017 Author Posted April 7, 2017 (edited) I've looked into BTC but the the electricity cost to value of coins mined ratio represents a net loss the two most obvious things to be considered, are indeed the operating costs (electricity) and upfront costs (hardware) that will factor into the profitability aspect. then there is the little known Difficulty factor which recalculates every 13/14 days or so and the Pool fees that you pay. that being said, i currently pay around 10 cents a kiloWatt hour and it is still very profitable for me. with my current hashing power, i make enough every month to cover my operating expenses and pay my mortgage. Edited April 7, 2017 by Foxx 1 Quote
ExiledInIllinois Posted April 7, 2017 Posted April 7, 2017 and one day coming up... blip... and it's all gone into 3 people's pockets... LoL! Ain't that how everything works. :-/ So, from what everybody is saying, it is easier to join these guys: So that where that insufferable Leafs fan thebug got his 78 BitCoins! TO fans, salt of the earth! ;-) J/K buggy! :-) Quote
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