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True.Quote:
Originally Posted by terry57
Worth chucking some spare change into though innit. The banks here are 2% p/a. What I threw into BC 2 days ago is up 15% already, withdraw to my bank account in 10 minutes. Interesting to piddle around with it.
I was in the same spot back in July, with 700k baht sitting in a savings account earning nothing.Quote:
Originally Posted by Luigi
Bitcoin sure seems like a smart move IMHO.
700k baht times 5 = 3.5 million! in 5 months....get outa here!
The question is Earl,
When do ya pull ya profit.?
You are OK as you can take a plunge in Value but its the guys jumping in now who may get burned.
It like the pyramid scheme innit.
The boys who were in early cleaned up and Johnny come lately jumped of the bridge. I talking the big investors not the small investor.
Really good to see ya making good coin though.
Brilliant.
But I also learned how to play the day trading and made more, which has become kinda fun pastime!
But I am going to delegate some of the fun to the miners, cuz riding the bicycle is more fun.
Australia the same Luie, 2 % is fuking diabolical and is very painful having money at that rate.Quote:
Originally Posted by Luigi
I do hope ya make some coin.
Thing is I have many sources of cash coming in to the "Earl" bank, so the BTC is just fucking cream.Quote:
Originally Posted by terry57
but the mining thing bring in another dimension to the whole picture..
I ain't greedy for money but this is really changing the picture of a reality free from central government that I could've never imagined before.
$11,000
Up 10% today alone.
Earl, if you were holding btc on July 31 youcan get bch. The latest version of exodus wallet will do it for you. Tfer your btc to the wallet and read the help articleQuote:
Originally Posted by Mr Earl
How do I claim Bitcoin Cash? - Exodus Knowledge Base
While no expertise on blockchain any asset that can be so volatile seems high risk.As others said if you got in early and can take the hit it's a punt.
I've read of the advantages of teh blockchain technology and that serious banks are looking at it too.
One thing that is seldom mentioned I saw yesterday was the huge amount of power involved.
https://www.cbsnews.com/news/bitcoin...y-consumption/
Bitcoin, the digital currency also known as cryptocurrency, has been on an upward trajectory lately. The value of bitcoin broke the $9,000 barrier over the weekend and sat at over $9,800 on Monday evening.
But bitcoin is also making other headlines: The rise in its currency value has given way to a spike in electrical consumption for the powerful computers used to "mine" more bitcoins, according to a new report. Consumption in the last month increased by nearly 30 percent.
In other words, it takes a whopping 29.05 TWh (terawatt hours, equal to one million megawatt hours) annually to operate the energy-hungry computers and networks that power bitcoin transactions. That's about 0.13 percent of total global electricity consumption, according to Digiconomist. That would rank bitcoin as 61st if it were its own country.
Bitcoin mining uses more electricity than 159 individual countries -- including more than Ireland or Nigeria.
Nearly 10 U.S. households can be powered for one day by the electricity consumed for a single bitcoin transaction, according to figures from The Bitcoin Energy Consumption Index.
The Digiconomist report states there are 12 U.S. states that consume less energy than bitcoin mining: Alaska, Hawaii, Idaho, Maine, Montana, New Hampshire, New Mexico, North Dakota, Rhode Island, South Dakota, Vermont and Wyoming.
Digiconomist compared bitcoin's network energy consumption to another payment system like Visa. It reports that bitcoin consumed the equivalent energy of nearly 2.8 million U.S. households, while Visa's consumption numbers around 50,000 U.S. households.
In a video posted on YouTube, the process of "bitcoin mining" is explained -- the computational processes needed to handle transactions and the verification that supports them.
What is Bitcoin Mining? by BitcoinMiningCom on YouTubeBitcoin prices were $960 at the start of the year. In 2010, they were 8 cents.
Some critics have said bitcoin's soaring price -- and speculation about a bubble and possible crash -- may slow the pace of retailer adoption in the U.S., even as as its popularity seems to climb with the public.
Meanwhile, the technology has some fans. Fidelity Investments CEO Abigail Johnson told a conference earlier this year that she's "a believer," according to Quartz. "I'm one of the few standing before you today from a large financial services company that has not given up on digital currencies," she said
Power consumption is one reason put forward for proof of stake confirmation of transactions
One of the reasons I invested in a hybrid proof of work and proof of stake coin
I'm no expert but here goes.
Drop x amount.
Double it.
Double the take.
Take out the initial.
Quids even.
Playing the field.
Sure, these are fairly standard smart casino player rules; double down when playing with house money.Quote:
Originally Posted by Pattaya Plies
It is very easy and clearly tempting to compare bitcoin with casino play.
Though when studied more deeply the network effect of Bitcoin is unlike any fuckwit casino.
The history being written right now is unlike anything we have ever seen before.
Bitcoin is going to bring down the most powerful fraud of all time without a single bullet; the USA Federal government.
Personally I don't think fiat money is fraud. I think bitcoin has a potential to do more damage to humankind.
At least with fiat and constant devaluation you are forced to keep productive your entire life. If bitcoin can't be devalued then where is the motive to keep creating and producing instead of keep holding data that btw can be devalued with forks and other alt currencies.
This has nothing to do with BTC going to one million....it may before the government wakes up and does something, but I just don't believe in it being this incorruptible currency everyone is making it out to be.
Anyhoo....you know it will be time to sell when dragonfly is finally converted :)
Yeah, now some info is becoming known about the BCH scam. But fuck me if I will put any of my BTC out for BCH scrutiny. I'll just write it off. Fuck Roger Ver may he live long and breathing the air from chicken fuck.Quote:
Originally Posted by baldrick
No fucking way am I going to play that! It's a loss.
Mind ya I was really pissed off yesterday having to do the transaction with Bitmain because the only accept BCH as payment for the antminers. I took over an hour to get the deal done.
problem there is Bitmain is somehow Roger Ver's bitch, and Bitmain has the top mining kit right now.
If you'd been paying attention for the past 100 years you might have noticed that all the war, death, destruction, waste of natural resources is courtesy of central government which is owned by central banking.Quote:
Originally Posted by YourDaddy
^ not sure what you are on about
the BTC stays in your wallet on your computer and exodus will do the work scanning the BCH chain - just put a recieve address for BCH from your exodus wallet in the box where it asks and after a few hours you will have BCH in your exodus wallet.
then send it to an exchange address and trade it for BTC
have a read up on the process - silly to leave free money orphaned in the blockchain if you had BTC in a personal wallet on July 31st
if it was an exchange wallet they should have done it for you and place the BCH in a BCH wallet on the exchange
Also for the bitcoin hodl'ers out there, be tough, because we are about to see a pretty wild ride.
meaning the USA is going to announce a "FEDCOIN", China is going to do something similar, Russia also!
Bear in mind in a free market these government coins will fail miserably just like the paper money.
This is all shit we will see in 2018
Are you somehow suggesting the greed will be wiped out with bitcoin?Quote:
Originally Posted by Mr Earl
Please.....
:smileylaughing:Quote:
Originally Posted by Mr Earl
Quote:
Originally Posted by YourDaddy
Eventually as people realize there is plenty to go around when you dont have government and banksters robbing the world with wars and petro economy bullshit
Quote:
Originally Posted by AntRobertson
Obviously you didn't read the memo PeeWee; the global social paradigm shift, is leaving you behind, the geneticaly retarded are forbiden to breed.
One of the long term issues with these cryptos is that many of them will never exceed a fixed number, it is what much of the current feverish speculation is based upon, and also what will make these cryptos hard to integrate into a capitalist system, and probably hinder their wider adaptationQuote:
Originally Posted by YourDaddy
.
Best to think of these crypto as commodities of different characteristics and so different utilities. What their mature value will be is anyone's guess, but they are very useful, so this is a boom sector.
So a quick question, if I may.
The bitcoin I have (and will have) in my coins.co.th
What is best to do with it, not really in terms of maximizing it, but safety wise.
Is it best to set up wallets with other companies? And say split it between three. Do they charge? a USB wallet, transfer them all to a USB and keep it in me safe for a year?
Or people talk of using your BC to get a return, not including the increase in value. What is the easiest and most convenient way of doing that?
Thank you kindly.
^ for long term, save your private keys on usb sticks and also print them. Also hardware wallets available. Never let an anyone see them.
:smileylaughing:Quote:
Originally Posted by Mr Earl
Sure Earl, run that one up the flagpole and see who salutes it... [insert other meaningless buzzwords/phrases here that you think are impressive].