Do You BitCoin?

[Augie]

Sell like hot cakes. Get them now

Sell like Stromboli?

[/dev/null]

So the ransom is paid with Bitcoins this weekend? That's interesting...

Yep, a bank routing number or mailing address would make it easy to track down the perpetrators. bitcoin is anonymous

 

Tho I suspect this may lead to a crackdown on the anonymity. Conspiracy theory bouncing around the Intertubes is this was a false flag to serve as justification.

[row_33]

Dev, you can make bank routing and other seemingly obvious paths so convoluted that they aren't going to be traced, happens all the time.

This is novel for a crime publicly demanding payment by way of Bitcoin.

[/dev/null]

Dev, you can make bank routing and other seemingly obvious paths so convoluted that they aren't going to be traced, happens all the time.

This is novel for a crime publicly demanding payment by way of Bitcoin.

True that bank routing can be obfuscated to the point where the cost/risk vs reward of tracing it out prohibits the effort

However the visibility of this situation would encourage the extra diligence.

 

The novelty of demanding payment via Bitcoin will draw unwanted attention on the Bitcoin community

[Foxx]

Yep, a bank routing number or mailing address would make it easy to track down the perpetrators. bitcoin is anonymous

 

Tho I suspect this may lead to a crackdown on the anonymity. Conspiracy theory bouncing around the Intertubes is this was a false flag to serve as justification.

anonymous, yes and no.

 

there is a record of every single transaction ever made within the blockchain and can be tracked. every coin sent to that address is marked by that address. they cannot be spent without knowing where they came from. that address will be watched.

 

also, there is the thought that this is state sponsored as a false flag of sorts to cast Btc in a bad light to ordinary Joe. after all how many post have i seen on here that Btc is only used for buying drugs, weapons, hacking payments, assassination payments, hitmen getting paid. can't have a trustless decentralized currency that is outside of the central banks control you know.

 

currently, there is an issue with the blockchain that Btc resides on. the amount of transactions have become so cumbersome, that it is significantly slowing the ability to process them all. this has caused a big row within the community on how best to solve the issue. the purists want nothing done, but that is just realistically not even remotely possible. if Btc is to thrive even more and become really mainstream, some solution or another will be arrived at. when that happens, you had best be prepared and well positioned for the moonshot or you will be wishing you were.

Edited May 14, 2017 by Foxx

[billsfanmiami(oh)]

I still have no clue what the hell any of this means

[Foxx]

Tell me more.

ummm....

 

the following cannot in any way be construed as financial advice of any sort. you assume all risk for your own actions.

 

there is a new miner out (or about to be out) that mines Litecoin. in some circles, Litecoin is considered to be the silver to Bitcoins gold standard. not sure i agree with that sentiment, however it is out there and has some basis in reality. this new miner is the Antminer L3+, 504MH/s. the current profitability of this miner is roughly 50% greater than mining for Bitcoin currently is. using a calculator you can see the actual numbers.

 

i say currently because of the Difficulty factor in mining. the Difficulty is what determines how hard the next set of blocks of coin is to solve and make them come into existence. this is determined by how hard/easy it was to solve the previous set of blocks. the more hashing power you have on the network, the faster/easier it is to solve those blocks, thereby driving the Difficulty higher. previous to this miner coming online, all mining was done by GPU mining (essentially your home computer). the mining power of the GPU's is relatively minor compared to these new rigs from BitMain. with these new rigs coming online the network hashing power is going to go vertical in a large way.

 

the Difficulty in the Litccoin market adjusts every 4/5 days. being that these new rigs do not ship until July 20/30th, the Difficulty factor could double (triple?), cutting currently valued rewards in half. however, if the Btc market is any indication, a price rise can/should be expected which would raise the reward.

 

personally, i am keeping a close eye on the Difficulty/price of the Litecoin market as the July 20/30th date draws closer and i can make a better educated decision on which way to turn.

 

like with all speculation, ymmv.

 

 

 

 

Edited May 14, 2017 by Foxx

[4merper4mer]

How many Meadcoins can I get for a case of wine?

[row_33]

3 flagons full of your finest mead for a bitcoin, arrrrrrrrrrrrrrr....

[Foxx]

i feel compelled to mention that the price for one Btc is now in excess of $2000 fiat digital dollars.

Edited May 21, 2017 by Foxx

[SoTier]

It exists because a certain element of economists and IT people seriously distrust the government and $$ system. They aren't kooks either.

 

Honey chile, how many economists and mathematicians do you know? Just cuz they claim they're not kooks doesn't mean they're right about themselves. I worked in academia for several years and then in IT for nearly 30, and paranoia seems to run rampant among a significant percentage of very intelligent, well educated people, especially those who deal with the theoretical rather than the pragmatic like mathematicians, software/systems designers, economists, etc.

 

IMO, I think there seems to be a really fine line between genius and mental instability, not just among theoretical types but among creative geniuses in the arts as well. "Mad scientist" might be a silly fictional stereotype, but there's a kernel of truth buried in it.

[4merper4mer]

I will sell you $100 worth of mead coins. I will mail them out when you send me $100. Then you can send me back 99. And I will send you a case of 1.5 L Liberty Creek Cabernet. Almost forgot got you need to send $60 for shipping.

I was going to give you the wine and I expected Meadcoins in return. The deal is off.

[Greybeard]

i feel compelled to mention that the price for one Btc is now in excess of $2000 fiat digital dollars.

 

Back a few years ago my son convinced me we should try mining. He put together a rig with 3 GPU's. He also joined a mining group figuring it would increase the odds of success. As it turns out he actually "struck gold" as our rig solved a chain. I can't remember what our net take was but he still has the Litecoin.

 

I can understand how you heated your house with it. Our rig heated at least two rooms. If I remember correctly, the electric bill went up about $80-$100 a month.

 

So I have a couple of questions, if you don't mind. Did you join a group or do you do it as an individual? If as an individual, how often do you solve for coins? If you heat the house in the winter, what do you do in the summer? I may have missed it but are you mining for Litecoin or for Bitcoin? If you are mining Litecoin, do you cash it in immediately or hold for speculation?

 

Thanks for the info. I may be willing to take another shot at it.

[Foxx]

 

Back a few years ago my son convinced me we should try mining. He put together a rig with 3 GPU's. He also joined a mining group figuring it would increase the odds of success. As it turns out he actually "struck gold" as our rig solved a chain. I can't remember what our net take was but he still has the Litecoin.

 

I can understand how you heated your house with it. Our rig heated at least two rooms. If I remember correctly, the electric bill went up about $80-$100 a month.

 

So I have a couple of questions, if you don't mind. Did you join a group or do you do it as an individual? If as an individual, how often do you solve for coins? If you heat the house in the winter, what do you do in the summer? I may have missed it but are you mining for Litecoin or for Bitcoin? If you are mining Litecoin, do you cash it in immediately or hold for speculation?

 

Thanks for the info. I may be willing to take another shot at it.

with the level of Difficulty these days, you would be losing money with GPU's. they simply do not possess the hashing power of the 16nm ASIC chip. the 0.126 J/GH efficiency is the main reason why the Difficulty has gone through the roof.

 

yes, the electric bill is considerably higher running these rigs. to operate one rig @ roughly $.11 per kWh the monthly expense is right around $110. however at current prices, if you look at the calculator you will see that after expenses, the monthly profit is in the neighborhood of $290.

 

did i join a group or do it as an individual? kinda both. i mine independently but i do so through a pool. the pool crates a greater overall hashing effort and the ability to solve blocks with the communal effort is greatly enhanced. thereby creating greater rewards.

 

i have just recently had to disconnect the rigs from the home heating ductwork as the house is just too hot. my poor dogs don't handle heat very well. in my basement, i have those glass block windows for security and the eye appeal. when i installed them, i put vented portions in a couple of them to let air in and out. what i have done is to fabricate some metalwork that is fashioned into those openings and they are now venting outside.

 

currently, i mine only for Bitcoin, however i may or may not make the leap into Litecoin mining.

 

there is a big difference between Litecoin mining and Bitcoin mining. the Difficulty for Bitcoin adjusts every 13 days or so whereas Litecoin Difficulty adjusts every 4/5 days or so. the ASIC rigs they have begun making to mine Litecoin aren't shipping until the end of July (which are currently sold out) and that is just too far out for me to comfortably gauge where the Difficulty will be when all this new Hashing power comes online. it could very easily double, if not triple which would, at current prices, significantly alter your rewards. with hat being siad though, the price could become commiserate with the difficulty and rise accordingly. i just have no way of knowing at this point, but i am watching things closely.

 

if i do decide to mine Litecoin, it will be with the intention of acquiring more Bitcoin and using some of those rewards to pay for power expenses as well. i do have a descent stash of Litecoin already. again, i got into the cryptos back in 2013 when they were pretty dirt cheap. i just do the mining aspect now more for the experience, learning things, staying up to date with the crypto-community.

 

i also have an online community/forum that i run and i gave away many Bitcoin back then. of which, at todays prices, they would account for 6 figures. i am glad i did so because many got involved and have a tidy sum today because of efforts made. and in essence, that is all i am trying to do here in this forum with this thread, though at the current price, i will not be giving any away. just trying to raise awareness, do my good deed for the day and hope someone else benefits, because cryptos are the future and this is still really the beginning stages.

 

Btc @ $2135.578

 

 

You are worth a lot of money if you bought a hundred dollars worth of bitcoins when the first came out 74 million

mead, you will probably enjoy this. live, as it happened.

 

10,000 Btc Pizza

[Foxx]

BitCoin is now $3000.

what are you waiting for... $30,000??

[Foxx]

do you know what BitCoin is?

 

Btc is a digital currency. there are many but Btc was really the first and as such it is the gold standard for all other crypto-currencies. today's valuation is right around $1200 per coin.

 

myself, i got into it back when they were $5 a piece.i have bought, sold and given away hundreds in an effort to get peeps involved in it. today, i am in the mining aspect of it.

 

i am just curious if we have any others here who are into it.

 

much has happened in the BTC world since I last posted here. the BTC blockchain has experienced a hard fork and there are now 2 bitcoins Bitcoin (BTC) and Bitcoin Cash (BCC or BCH depending upon who is listing it). there was and continues to be a great debate, often hostile as to the direction the community wants to see Bitcoin take. too much to get into here but if you are interested to find out more, look to reddit and the sub, r/bitcoin.

 

the beginning of April it was $1200. today it is in a trough at the $4k mark. it will probably break to the downside from here before heading upward again. that is a 233% increase in valuation in a little over 5 months. just me and my opinion, but i expect it to be over $10k by February of next year. not to be considered financial advice. you should do your own due diligence. all investments carry a risk of loss.

 

Edited August 20, 2017 by Foxx

[ExiledInIllinois]

I will have a meadcoin at the opener.

Did you "work" for it? I wanna see your shovel! ;-)

 

AND no, drinking vino & eating stromboli doesn't count! ;-)

[SlimShady'sSpaceForce]

F5

[/dev/null]

http://mashable.com/2017/08/21/legends-room-strippers-bitcoin/#FIU15VPsSaqg

 

And I propose the name for this should be Titcoin

[Saxum]

http://mashable.com/2017/08/21/legends-room-strippers-bitcoin/#FIU15VPsSaqg

 

And I propose the name for this should be Titcoin

 

 

 

The lap dances are where it gets interesting. During the event, dancers will be wearing a strategically placed temporary tattoo with a QR code. If you want to tip a dancer, wave the phone over the tattoo, and voila, you're doing Vegas, crypto-style.

 

How progressive! Virtual (but not virtuous) lap dances.