Bitcoins

Turns out that I have .0001 BTC left, worth $2.05. Guess I'll let it sit in Coinbase until these are worth a billion each.

I decided to risk it and re-added on Friday morning some GBTC that I had sold. Will see what happens Tues. But so far looking good. I don't know if they tanked it so they could run it back up over the long weekend when people are unlikely to trade.

Dogecoin seems to be doing great

Bubbles are always compelling, because real coin is being made in a big hurry. Until it's being lost even faster.

i was thinking of buying some if it drops below 10k then a friend suggested i just started mining them. this is how he started, with a combo of buying and mining. unfortunately i didn't get the name of his miner setup.

is there a legit mining program you can download that mines crypto currency using your computer while you are sleeping/at work? something that works w Windows 10 prefereably...

why not start leaving your fridge door open at all times and burning tyres in your back yard too

your mining operation is completely irrelevant in the face of the botnets made of hundreds of thousands of phones, and massive overclocked coin farms in the west bumfuck parts of the PRC

iow bizarro otm as usual

anyone with a real answer?

those are real answers

fwiw i don't care if i made like a fraction of a bitcoin i have no aims to have my computer competing with a overseas bitcoin mining farm operation

Ya I think I'll mine some bitcoin too any tips

Are there places it's better to mine like the Ukraine or Texas or is it not like that

don't you wind up paying like 10x more in electricity than what you'd make from mining at this point

buy ripple

some are speculating that banks are betting on it so youll see massive growth and it is relatively cheap at the moment and doesnt require mining

Production of bank notes costs more than the worth of the raw materials guys but fiat currencies still work somehow cmon

just do it and stfu

by end of 2018 youll be thinking gee remember that guy 'infinity' or something on the ilxor.com forum? its like he came from the future w the grays sports almanac and told me every winning move in fintech for the year

*cue huey lewis and the news' back in time*

=(

https://www.washingtonpost.com/business/technology/bitcoins-boom-is-a-boon-for-extremist-groups/2017/12/26/9ca9c124-e59b-11e7-833f-155031558ff4_story.html?utm_term=.8be8269372e0

Those who began acquiring bitcoin in August already have reaped substantial returns, despite the recent volatility in its price. In the months since demonstrators carried flaming torches and chanted “Jews will not replace us,” bitcoin has quadrupled in value. The digital currency began trading on several mainstream financial markets this month, pushing the price of a single bitcoin at times above $19,000. It was worth $16,000 at one point Tuesday.

Extremist figures who invested in bitcoin as a bulwark against efforts to block their political activity now find themselves holding what amount to winning lottery tickets. The proceeds could be used to communicate political messages, organize events and keep websites online even as most mainstream hosting services shun them, experts say.

I still refuse to believe that there's that much *actual* money in this. Some people are getting rich no doubt but that money isn't just being created out of thin air, as much as it seems like it is at this point

W

What

i don't really know anything about cryptocurrency, but am i correct in thinking that 1) if it became more commonly used, it would essentially represent a merging of the use of money for investing and the use of money for day-to-day transactions, and 2) this merging would lead to even worse income inequality, assuming anything resembling the recent price volatility continues to play out?

Lol @ setting up as a mom n pop bitcoin miner this deep in the game tbh. Wherever the blockchain/cryptocurrency train is headed, pretty sure that's not a good use of your time + effort

This idea, this idea with math and computers to print money, is definitely worth something - it has the backing of narcotics smugglers, neo-nazis and collapsing caliphates, so it’s as good as bonds, except you can also get rich quick. BUY NOW AND SAVE.

represent a merging of the use of money for investing and the use of money for day-to-day transactions

You can speculate in currency markets already. It's just that the dollar, yen or euro do not have anywhere near the volatility of bitcoins, and the regular currency markets are so large and directly tied to the real economy that they are difficult to manipulate.

Bitcoins and other cryptocurrencies have no known relationship to the real economy aside from their use by underground or black market economies, due to their difficulty for governments to trace or block. They also have lured in a lot of amateur speculators looking for a big, quick killing, who will easily be fleeced by the big players in the market.

from what I understand you need a massive amount of capital to profit off of regular currency exchanges because the changes are pretty minimal in the grand scheme of things

the other problem with that hypothetical is that Bitcoin fundamentally does not scale. if people started actually using it like Paypal the network would slow to a crawl. it's accepted in far less places now than it was during the first "boom". I have no clue what's causing the price to spike so dramatically right now.

who will trade me an amount of bit coins for my 1991 FLEER brand darryl strawberry baseball-style card

the top of daryl's bat has those atomic energy ring things on it, like it's drawn onto the bat, look's real cool

yesterday afternoon i got the Windows 10 Bitcoin Miner app from the Microsoft store and left it running overnight. now the proud owner of $.07 worth of digital currency!

Is ironic bitcoin mining a thing now

If they made a candy crush like game that mined bitcoins...

I thought there were a few. In order to capture the true BTC experience they actually wound up mining into someone else's wallet.

http://phylo.cs.mcgill.ca/

Is ironic bitcoin mining a thing now

I think some people mine other crypto-coins of more recent vintage, where the system requirements to be competitive are not so stringent, and then exchange them for Bitcoin.

https://video-images.vice.com/_uncategorized/1502303450256-GCOINCOMPARE.jpeg

Wait'll you see the wallets...

I won't stand for this

https://www.cnbc.com/2018/01/09/kodak-joins-cryptocraze-with-digital-photo-licensing-site.html

well well well

https://www.wsj.com/articles/moneygram-signs-deal-to-work-with-currency-startup-ripple-1515679285

if FB releases a cryptocoin it would KILL YOUR MONEY

http://www.bluefat.com/1108/hm1.jpg

The group’s name is Kasotsuka Shojo, which translates as Virtual Currency Girls. Each one of the eight members represents a different cryptocurrency, including Bitcoin, Ethereum, Ripple, and Cardano. The women are outfitted in maid dresses and lucha libre-style masks that denote the currency they represent.

Kasotsuka Shojo’s debut single is called “The Moon and Virtual Currencies and Me” and is a blistering electro-pop song that warns listeners to be aware of fraud and to maintain their security online.

The group takes payment for concert tickets, merchandise, and other products through — what else? — cryptocurrencies including bitcoin and ethereum.

https://www.theverge.com/2018/1/12/16882378/japan-jpop-band-virtual-currency-girls-kasotsuka-shojo-cryptocurrency

which poor lady has to be Dogecoin

doggycoin

https://motherboard.vice.com/en_us/article/9kng57/dogecoin-my-joke-cryptocurrency-hit-2-billion-jackson-palmer-opinion

in other news papas makin ripples kids

🌊😍

also it has to be said the amount of leniency california residents get when entering into this entire ecosystem is so crazy it's laughable

I have to assume that a huge part of what's "not right here" is that a lot of that "market cap" is a mirage, i.e. there are not actually $700B in assets tied up in cryptocurrency. In the case of Bitcoin and probably other cryptos too, huge amounts are locked away in the hands of a few people or outright lost, and more is being "hedl" by true believers. When trading volume of any asset is low enough, the price can be easily inflated. That's how the stock CRCW reached a multi-billion-dollar market cap with revenue in the hundreds of thousands of dollars per year and a massive net operating loss -- only like 1000 shares a day were trading. Very easy to manipulate the price at that kind of volume.

There's probably no way to calculate such a thing, but it would be fascinating to know how much money was actually *spent* acquiring the total amount of crypto in existence today, like not the total $ amount of all crypto transactions ever, but the total of all of the dollars spent by current crypto holders on crypto they currently hold. I have to imagine a lot of these crypto startups just give their management/founders huge percentages of their total coin, so that maybe you have a "market cap" of say $100 million with only $5 million in actual money having been spent by public buyers of the currency.

That’s sort of the case with Ripple IIRC - they premined the whole lot and still hold like 60% of them to parcel out with growth.

yeah, and that's just the company -- I'll bet management, employees and VC investors were given some too.

What exactly is a ripple token anyway ?
A form of stock?
From what I’ve heard the tokens are ancillary to the blockchain functionality.

all I have heard for the past week is 'buy ripple' but it's apparently a fucking pain in the ass to buy

I barely understand any of this crap and I'm in software. I did finally open a coinbase account and start buying ethereum though (in small amounts on a weekly basis).