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Thread: BitCoin Update

  1. #41
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    You are successfully mining BTC Dan?

    Well done - I thought this was only a space for the big boys - big rigs these days?
    How madly power hungry is your set-up to be able to mine?

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    mining alts and than convert to BTC me thinks

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    Quote Originally Posted by vtyunby65 View Post
    It's now worth $13,000.00 USD.

    I bet that it will be over $15,000 USD before the month is out!
    And we have a winner !

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    It's worth nearly $20,000.00 USD now.

    Wow!

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    Are there any cryptocurrency index or etf funds anyone knows about?

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  11. #46
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    Yeah they are, and there will be much more in future, because people want to blindly "invest". But avoid it like plague IMO.

    Do your job: spend the time and read about it and buy it to your wallet. It is the main advantage here that you can truly hold the coins.
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

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    It seems like it's hard to get Bitcoin these days.. looks like everyone prefer to hold it due to the very fast trend up

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    Quote Originally Posted by TheGooner View Post
    You are successfully mining BTC Dan?

    Well done - I thought this was only a space for the big boys - big rigs these days?
    How madly power hungry is your set-up to be able to mine?
    Math checks out. All the challenges in mining are of practical nature, e.g. getting rid of the generated heat, making sure the power grid is strong enough to handle the load, having a place for miners since they're so loud, etc. It's not for everyone.

    I think of a miner as this. Uses the same amount of power and generates the same amount of heat.

    Edit: I'm mining BTC directly.

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    Quote Originally Posted by DanHorvat View Post
    Math checks out. All the challenges in mining are of practical nature, e.g. getting rid of the generated heat, making sure the power grid is strong enough to handle the load, having a place for miners since they're so loud, etc. It's not for everyone.

    I think of a miner as this. Uses the same amount of power and generates the same amount of heat.

    Edit: I'm mining BTC directly.
    So then, mine Bitcoin and get a free sauna?! I'M IN!

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    The market is still very volatile but I think we are just seeing the beginning of Bitcoin.

    There’s a consensus developing among Wall Street right now. In 2018 there will be a major shift of investment groups to digital currency. And it’s going to bring a stampede of money into cryptocurrencies.

    The major factor is that in their portfolio they have a margin for market fluctuations, and has history of Bitcoin shows it has no impact from markets like Nasdaq or SSE. That makes it a option that balance what they can offer to investors. When big money moves to BTC the market will be a lot less profitable due to the stability it will get from major firms because they don’t tend to move billions just because some on dumped 500k.

    From now till then, the market will still have major highs and lows but put on your big boys pants and sell in a couple of months. I bought some BTC in June and even more (at 3750$ ) when the market “crashed” almost 50%in late august. If you want to diversify, go ahead and unload some but see the long term opportunity and hodl.

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  21. #51
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    BTC has been an absolute beast recently. Loving the volatility

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    Quote Originally Posted by Dantei View Post
    The market is still very volatile but I think we are just seeing the beginning of Bitcoin.

    There’s a consensus developing among Wall Street right now. In 2018 there will be a major shift of investment groups to digital currency. And it’s going to bring a stampede of money into cryptocurrencies.
    As well as the word many do not want to think about

    REGULATION

    Rick
    Universal4

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    Quote Originally Posted by universal4 View Post
    As well as the word many do not want to think about

    REGULATION

    Rick
    Universal4
    That's the word that I was really trying to remember the other day. 'Regulation'. Lol.

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    Quote Originally Posted by universal4 View Post
    As well as the word many do not want to think about

    REGULATION

    Rick
    Universal4
    Who do you think you will regulate with a peer-to-peer currency?

    The days of having a middle-man collecting fees and acting as an intermediary are fast disappearing. These futures derivatives that have fess plus tacked on will last a couple of years until people and institutions work out that they'd have done far better holding directly.

  27. #55
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    If Walmart doesn't start taking Bitcoin, (as well as other grocery store chains) US Residents are faced with turning it into Fiat, and that will be closely scrutinized and regulated.

    Rick
    Universal4

  28. #56
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    Quote Originally Posted by universal4 View Post
    If Walmart doesn't start taking Bitcoin, (as well as other grocery store chains)
    In about two years time there will be plenty of globally available plastic Cards that you can use as normal (pay in fiat Dollars, Euros, Pounds, Pesos) that will convert the costs and debit a crypto balance. It's already happening in Europe with both Visa and Mastercard, with Asia likely to follow suit very soon.

    Forex exchange rates are nil (as the balance is not held in ANY fiat) and other fees and costs are lower too with blockchain eliminating many of the manual processes and fee rorts.

    I guess it's possible the the "Land of the Free" will remain the "Land of the fee" for a wee while - as banks and financial institutions will use the "crypto bogeyman" to scare lawmakers and regulators ... but given the way that the US financial industry is rushing to bitcoin futures and ETFs I think that the "genie is already out of the bottle".

    If you're allowing people to invest in crypto - if you're pushing it in your financial markets - if it's on the financial news every second night - then you also need to adapt and adopt to other world financial trends.

    If banks want their retail offerings to survive then they need to keep themselves relevant and offer crypto services - eg like offering crypto accounts where you can hold crypto balances in cold storage as savings and in hot storage for transnational use.

    If banks and merchants fail to change then the whole retail / banking sector is going to move on without them.

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    REAL BITCOIN NEWS

    Bulgaria to sell 210,000 Bitcoins confiscated from organized crime

    Bulgaria, poor as dirt, confiscated 210,000 Bitcoins from criminals during a customs duty special operation against rising organized [Bitcoin] crime. One more case that proofs, what the basis of Bitcoin really is.

    Bulgaria's tremendous government dept could be decreased about 20% if they sell their Bitcoins.
    Would be a nice day for the Bitcoin chart and their speculators.


    Interactive Brokers opens Pandora's Box

    Interactive Brokers, biggest Bitcoin broker opened Pandora's Box. They now decided to go with the Bitcoin speculation machine into nuclear mode, because despite former announcements they now will allow their customers also to speculate on falling prices.

    Think twice, what this means!

    Leopold

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  32. #58
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    The "regulation" is fine. It will never achieve what is intended, but will give to cryptos legitimacy. There will be no way back (but probably is not even now and never was).

    As someone said: it is just needed that there will be at least one state that will be crypto-friendly.

    Some states will probably try something like this: https://www.reddit.com/r/ethtrader/c...ing_to_pass_a/
    which is something that will just cut competitiveness of that nation. But there will be drawbacks and "crashes".

    With bills that will force you to declare cryptos while crossing borders we are really heading into cyberpunk dystopia, where everyone has to memorize their seeds. Exactly like Johny Mnemonic if you recall. It is amazing.
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

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  34. #59
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    Anyone that thinks the US Government will not want a "paper trail" of the transactions...well honestly now...of course they do.

    And Visa or Mastercard will provide such, since they fully know it will be part of continuing to do business in the country.

    Rick
    Universal4

    Disclaimer: I used the term "paper trail" loosely to define the data that the government will want on the transactions,.

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    Quote Originally Posted by universal4 View Post
    Anyone that thinks the US Government will not want a "paper trail" of the transactions...well honestly now...of course they do.

    And Visa or Mastercard will provide such, since they fully know it will be part of continuing to do business in the country.

    Rick
    Universal4

    Disclaimer: I used the term "paper trail" loosely to define the data that the government will want on the transactions,.
    Google 1099-k and you'll get an idea of what could possible be for exchanges to provide.

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