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Bitcoin/Litecoin etc

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Original thread gone?

Bitcoin back on the up today after a couple of days with very little movement.

Litecoin doing well still but down today a bit. It really needs gox to announce a date for thier trading engine to open, kinda in limbo at the mo it would seem

@leanne I havent looked into desktop/offline wallet software, is that something you are looking into?

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I've actually studied the shit out of all this and having sold out at 0.56, I bought back in massively at 0.49. What has to be remembered is IOTA actually proactively sought these evaluations and the report was a massive conflict of influences. The way it's began to decouple itself from BTC and make its own independant gains has been extremely promising - plus the amount of new hires that are coming on board are of such high quality it's really a undergoing a massive transformation. I had too much in it to just ignore the day to day - it's hard graft whtaching big swings every few hours. Now I really am going to take a lump into cold storage till 2020

- This new hire looks pretty impressive
www.businessinsider.co...

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Bittrex Estimated Value: 0.49819128 BTC / 1947.54 USD

Currency Name Symbol Available Balance Pending Deposit Reserved Total Est. BTC Value % Change
Verge XVG 156710.74800538 0.00000000 0.00000000 156710.74800538 0.26013984 -2.4%
Ripple XRP 520.00000000 0.00000000 0.00000000 520.00000000 0.02656160 0.9%
OmiseGO OMG 15.08730120 0.00000000 0.00000000 15.08730120 0.04163793 -0.4%
NewEconomyMovement XEM 1159.51385514 0.00000000 0.00000000 1159.51385514 0.06989550 -0.1%
Neo NEO 6.77912717 0.00000000 0.00000000 6.77912717 0.03554974 4.9%
CloakCoin CLOAK 32.00000000 0.00000000 0.00000000 32.00000000 0.06537600 9.0%
Bitcoin BTC 0.00000022 0.00000000 0.00000000 0.00000022 0.00000022 0.0%

Bitfinex

Exchange

Margin

Funding
USD 0.00 0.00 0 0 0 0
BTC 0.08 0.08 0 0 0 0
ETH 0.00 0.00 0 0 0 0
IOTA 3,634.01 3,634.01 0 0 0 0
EOS 0.00 0.00 0 0 0 0
$2,370.76

Balance

Deposit
Withdraw
Transfer

Token Wallet EtherDelta
XRL 0.000 906.000

Make of that what you can, It's rather late and no mood for re-formating, but basically it shows my holding

The majority of which are in IOTA

I have reduced them by 30/40% as it was getting rather stressful, also today has been a beast of a day - with btc continuing to fallfrom nearly hitting $5000 9/10 days ago to $3900 today.

Even so basically thanks to Verge, a fair stake in Monero now sold, Cloak coin, Omisego and NEM I'm almost in 100% profit and have bough some gold and am long on the Rand/USD

For anyone who has been following and enjoyed the 350% increase on Verge over the last month or the soon to be realised profits on IOTA as it starts to out perform BTC for the first tume appreciation can be shown through btc here 1HNmN6EZwGezoKDi1JcHPZkAAYsNa1snW8

It's not easy to venter a suggestion, right now I like rialto, cloak coin, BAT under 0.185 and will be partaking in my first ICO tomorrow for www.hedge-crypto.com/c...

I would also like to launch my own ICO called sickcash (SIC) - a gambling platform that offers celebrity dead pools, over/under on suicide rates, odds on where the next ISIS attack will take place, natural disasters. Sporting injuries. Red cards. All fucked up shit.

Tokens to be called cuntbucks. Essentially a bookmaker for darker side of life - 10% over round on all higher/lower markets, 20/30% overound on outcomes with 5 or more 'runners'

Coins raised in 3 rounds 1st round gets 20% of profits paid quarterly, 2nd 15%, 3rd 7.5%. Aim to raise $15,000,000 worth of Ether

Get celeb endorsement, (Doug Stanhope) world wide gambling platform, US included, except your betting on higher or lower on the 2018 AIDS profilfereation in Belarus rather than red or black.

20% of profits given to the DECC - hey its more than they'd of got if this didn't exisit

Know enough now how to launch an ICO, niche market within a $92 billion industry.

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:-):-):-):-):-):-)

Cuntbucks....genius

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lol@cuntbucks

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Bitcoin down 37.5% in last two weeks. Iota down 28% today

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Whats your take on bitcoin (and other assorted coins) daire?

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The technology has incredible value, the currencies are worthless

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"Several government officials have announced criminal investigations into the Equifax breach. And one law firm is launching a $70 billion class action lawsuit — the largest class action lawsuit in history."

Jesus

medium.freecodecamp.or...

Shambles

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This chart comes from Hofstra University professor Jean-Paul Rodrigue. It is one of the most widely cited charts about market bubbles in the world. It focuses on investor psychology and the mindsets that prevail:
3.bp.blogspot.com/-H8R...

This is the bitcoin chart:
www.xe.com/currencycha...

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SELL! SELL! SELL!

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There Never Was a Real Tulip Fever
www.smithsonianmag.com...

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"That’s not to say that everything about the story is wrong; merchants really did engage in a frantic tulip trade, and they paid incredibly high prices for some bulbs. And when a number of buyers announced they couldn’t pay the high price previously agreed upon, the market did fall apart and cause a small crisis".

So to summarise that article, there was a real tulip fever

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Sounds like it's been spoofed up through time.

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That's the point I suppose. The writer explains tulips did have a value as a status symbol and also there are no records to suggest anybody actually went bankrupt from the run up and collapse in prices.

The 'spoof' as you say all stems from the Madness of Crowds economic article

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It's not like the 'official institutions' haven't fucked up and got in to bubbles, anyway. PM the housing bubble and financial crash from a few years back, and the one that's potentially going on at the minute, and all the other throughout the last few decades. So just because crypotos have gone through a couple in their infancy, I wouldn't necessarily say it's a sign that they're doomed, etc.

But I don't mind either way as I've got more than my original investment back so haven't lost anything and I've still got a nice wee amount sitting there if they do continue to grow and increase in value over the longer time scale.

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All new currencies have their volatility in their early years. Their strength is tested by it.

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IMF chief tells central bankers to not dismiss bitcoin

Christine Lagarde, the head of the International Monetary Fund, has a message for the world's central bankers: Don't be Luddites.

Addressing a conference in London on Friday, Lagarde said virtual currencies, which are created and exchanged without the involvement of banks or government, could in time be embraced by countries with unstable currencies or weak domestic institutions.

"In many ways, virtual currencies might just give existing currencies and monetary policy a run for their money," she said. "The best response by central bankers is to continue running effective monetary policy, while being open to fresh ideas and new demands, as economies evolve."

Read more at: ys.org/news/2017-09-im...

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The Wall Street Journal - Goldman Sachs Explores a New World: Trading Bitcoin

Goldman Sachs Group Inc. GS 1.46% is weighing a new trading operation dedicated to bitcoin and other digital currencies, the first blue-chip Wall Street firm preparing to deal directly in this burgeoning yet controversial market, according to people familiar with the matter.

China in recent weeks has banned exchanges that trade bitcoin, fearing the virtual currency could provide an avenue for capital flight. J.P. Morgan Chase & Co. Chief Executive James Dimon, whose bank is the largest dealer in global currencies, last month called bitcoin a “fraud” and said he would fire any employee who traded it.

Yet Japan’s government has embraced bitcoin, creating regulations to legitimize its trading. India and Sweden have mused about creating their own virtual currencies, and the U.S. Federal Reserve has studied bitcoin and the technology underpinning it.

“In response to client interest in digital currencies, we are exploring how best to serve them in this space,” a Goldman spokeswoman said.

Read on - outline.com/9PMft3

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Bitcoin surges above $5,000

Bitcoin shrugs off Chinese regulations and bubble chatter to smash a new record.

arstechnica.co.uk/tech...

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Investor in it reckons it'll reach 25k in 10 years

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JPMorgan open to digital money if regulated

"JPMorgan Chase is "very open minded" on the future potential use of digital currencies if they are properly regulated, the bank's chief financial officer said Thursday.

Chief financial officer Marianne Lake praised the potential of the new technologies, while avoiding commenting directly on bitcoin, the controversial cryptocurrency trashed last month by Lake's boss, JPMorgan chief executive Jamie Dimon."

ys.org/news/2017-10-jp...

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Overcoming roadblocks, bitcoin takes flight again

Bitcoin may be in for a sustained record run as it overcomes key obstacles, experts said Thursday after the cryptocurrency set a new record high.

Even bitcoin fans were plagued by doubts over the summer when Chinese regulators cracked down on exchanges trading the virtual currency and a dispute among developers gave birth to a new version, splitting the market of the budding currency.

In September, banking regulators in Beijing and Shanghai ordered local cryptocurrency exchanges to shut down.

But observers say they are now detecting a rethink by the Chinese authorities, causing bitcoin on Thursday to surge past the $5,000 level for the first time since its launch eight years ago.

Around 1530 GMT its value based on a basket of trading exchanges calculated by Bloomberg was $5,247.02, up from $4,829.29 late Wednesday.

This represents a rise of 400 percent this year alone.

ys.org/news/2017-10-ro...

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BTC has gone parabolic lately. Currently $5680. However I have drawn a line under it and shifted my 75% of my crypto position from speculating to mining (I actually did so yesterday at $5400, so I guess I jumped a little early). There are a number of reasons why, but they essentially fall into 2 camps. BTC's current price and new ASIC hardware.

1, BTC is infamous for rapid and prolonged pull backs, The crypto marketcap is more BTC front loaded than it has been in a hell of a long time currently representing 55.7% of $170B market cap. Altcoins (with few exceptions) still havn't broke out from BTC's influence. A major reason for this is speculation on the upcoming 2nd hardfork some time in Novemember.

I believe people expect a similar, if not better, return than that of the 1st fork which ocured on the 1st of August (BTC was around $3000- fork occured seemlessly, everyone holding BTC got credited an equal amount of BCC, BCC dived initially to $200, then to many peoples surprise surged up to $650+ for a month as the Chinese seriously embraced the currency - then news of the China ICO and exchange ban prompted a slump back to $350 - if China hadn't acted BTC could be at $7/8/9/10,000?)

Regardless of the Chinese ban on exchanges the Bitcoin Cash is still a really substaintial part of the crypto market with a market cap of $5.5B. However there is a very strong case that this price is being artificially maintained by Antpool, a divison of the Chinese company Bitmain.

Bitmain is important. They represent appox 65% of all BTC mining and master nodes (collecting the really substantial fees on BTC transfers). It's been reported that Antpool has dedicated a disporpotional amount of it's hashing power to mining BCC, despite it being less profitable than BTC. Another divison of Bitmain - Antminer hardware can only be purchased from them in BCC. Speculation is they are spending $100's of millions proping up BCC. The rewards are obvious. If they maintain the currency as the Asian BTC that market in the face of Chinese legislation and BTC is worth nearly $95billion you can see the prize they are aiming at.

However the Chinese legislation is extremely real indeed. A lot of rumblings including the document linked here - news.8btc.com/will-bit...

(more detailed discussion here - bitcointalk.org/index....)

below have hinted that the Chinese will ban mining. If this happens - well I'd rather be mining than holding because the scale of that will totally disrupt the mining status quo and the short term value of BTC is undoubtably going to take a hit.

Now there is absolutely no concrete evidence that China will ban mining, or even if they could. But when Beijing has acted in the past regarding ICO's, Exchanges, Capital flight in general. It has done so without warning and unilaterally. Mining is different though. And with Japan and Korea being the worlds biggest cryptomarkets and Putin launching the 'cryptoruble' China may reconsider their crypto isolationist stance amongst their neighbours. It's impossible really to speculate what China will do. A nationalised 'cryptoyen' could spring up. Whatever happens, if your in the market you HAVE to have strategies to deal with any news out of China. I have largely played my hand already moving 75% odd into mining.

This is getting quite long so I'm going to post this and continue in my next post.

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What info should I read before investment bitcoins? I found a very extensive website bitcoinbestbuy.com . Can someone help me? Does this article have all the necessary information?

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Fuck off cunt

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Looking forward to the new Crypto Isolationist Stance album

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Back to the top heavy BTC market cap, and why I think it is potentially overheating (although every refresh of the price is proving me wrong...)

We have another BTC hardfork coming in November. The man primarily behind this is Jack Liao head the Hong Kong-based mining firm LightningASIC, which despite it's name is primarily a GPU manufacturer and BTC ATM supplyer. He is launching Bitcoin Gold - BTG. He has secured enough hashing power to do this and it is actually a very different proposition to the 1st fork.

He is taking BTG of the SHA256 algorithm to and using the ASIC resistant Equihash Alogrithm (no proof of work coin is actually ASIC resistant, if an algorithm is described as ASIC resistant it simply means one isn't available - and based on this bucko's activities it would not surprise me in the slightest if he had a pile of Equihash ASIC's primed and ready to go)

But this firmly places it the realms of altcoins and I just do not see it being remotely as valuable as Bitcoin cash. I don't imagine Lighting ASIC having anything like the hashing power or the demand for equipment that Bitmain has. Or the $100's of millions needed to prop up the currencies adoption.

It will however still be launching in Hong Kong and face all the regulatory uncertainity coming out of Bejing. And having banned ICO's will China differeciate between them and a hard fork? If it's changing the algorithm it's really grey turf. Also exchanges are not rushing to support this currency. When Bitcoin Cash was launched it had the benifit of BTC.com' full support (another divison of Bitmain) and a lot of people, myself included, flocked there to take advantage of it's BCC recovery tool that instantly credited you with the same BCC as BTC. This prompted other exchanges to develop there own recovery tools and Coinbase, by far the largest holder of BTC who had categorically maintained that they would not be recognising BCC buckled under public pressure and implemented a recovery tool.

It's expensive to build the infrastructure around a new coin and so far the major exchanges are taking a wait and see approach to BTG. Afaik Lighting ASIC has no such BTC.com equivilant to drive public sentiment. So in short unless you take your coin out of a hot wallet and run an extraction yourself there is every chance that the average person won't even see their BTG.

Of course the currency Bitcoin Gold doesn't have to be worth the $5.5billion of BCC to still be extremely valuable.

I could talk now about Segwit2x for equally as long or longer but I want to talk about mining.

The tldr - I believe that the value of the Bitcoin Gold fork and Segwit2x is already priced in to BTC at around $6000

With virtually all the darknet market places down at the moment. Open Bizarre pro-actively closing down illegal operators. Monero's mass adoption on darknet markets. Christmas coming. The parabolic growth that formed in the face jaw of an elliott wave. That the Market Cap of BTC has not really filtered through to the Alt's. I'm bearish. My strategy yesterday was to buy over $5k worth of mining gear that won't arrive to late Novemeber. I possibly sold out to early at $5400 - BUT - Bitmain only release miners in batches. I managed to grab one of the last November batch Antminer S9's. They are gone now. The next batch of S9's lands end of Dec and are selling $260 higher. The prices on eBay are insane for S7's, D3's, S9's & L3+'s

This guy covers a lot of technical analysis -

So going to post this and talk about the mining hardware I have arriving and what I'm expecting from it.

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How long will it take before I get this job polishing your fleet of Lambos m8?

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At the moment I have ordered bought both an antminer S9 and L3+ and have money aside for a 4x AMD 570 GPU rig, just waiting for the right seller on eBay.

Mining and speculating are very different. These yokes sound like jet engines absolutely, rip the arse out of the electric, and 99% of the 2kwh's are converted directly to heat. Mining these days is virtually totally impractical for residential. I'm lucky in that I have access to a celler that can use the heat and has very favorable electric costs.

Mining with nicehash (excluding electric costs) - the S9 is making $585.02 USD/month - www.nicehash.com/profi...

Thats working on SHA256 around 12.5TH/s

Mining with nicehash (excluding electric costs) - the L3+ is making $767.91 USD/month - www.nicehash.com/profi...

Thats working on Scrypt around 504MH/s

Mining with nicehash (excluding electric costs) - AMD 570 is making $43.56 USD/month per card - x4 $174.24 USD/month

Thats working on Ethash, not 100% sure of the hashing speed, not actually 100% sure if I will buy the AMD rig. Etherium is moving to proof of stake next year and while their is resale value inherent with GPU mining, I'm more interested in wether it will be more profitable to buy and hodl. A lot is happening with eth in 2018.

Missed the November batch of D3's mining X11 - Maybe consider buying a Dec release. Depends on the difficulty.

Obviously the calculator is at todays difficulty - Bitmain have always had such a tight grip on mining. They mine and verify 65% of all the BTC. The first releases of D3's sold out quicker than Glastonbury tickets and it was putting out $120 a day. That was a ROI in 30days.

Based on how the S1, S3, S5, S7 have all performed you can expect a ROI in around 4months and diminishing returns for 24/30months until they just become expensive doorstops.

The intresting thing about mining these days are how the mining pools have developed - the most interesting imo is rohashing.com which flips the pool automatically to mine whatever alt is the most profitable in that language in real time and automatically trades it for your coin of choice. Withdrawing whatever amount you like to a wallet and even through coinbase directly into £'s.

These are the yokes - op.bitmain.com/antmine... - that price is deceptive, firstly because they only accept payment in BCC - so you have to have a bunch of that - also add shipping, 1600w PSU and import costs.

To buy a L3+ today on eBay, landed in the UK costs £2700ish from a good seller - a lot of eBay scams going on with people mining the shit out of them and leaving you hanging for 30+ days before eBay steps in.

The S9 is virtually the same price with the same eBay bullshit.

You can overclock the shit out of them - balancing act

This dude has overclocked -

So yeah, going forward if people want bitcoin going forward PM me - good luck.

(Smell your mother TJ, would you ever give her a bath ffs)

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Can't afford to give her a bath m8, waiting on this car washing job so I can buy her back from her pimp.

Surprised you haven't got enough to buy this Lambo yet, you seemed so confident it would happen very quickly.

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Maybe dombadger could get a hottub in the back of his lambo, then you could wash your ma and his car at the same time

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Sounds ideal. Just need him to follow up on his bravado and buy the car....

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This is interesting. Industries other than banking that could or will be disrupted by Blockchain

www.cbinsights.com/res...

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Will This Battle For The Soul Of Bitcoin Destroy It?

As Bitcoin hit a new record high less than two weeks ago, long-time “hodlers” (an inside joke in crypto based on a typo in a drunken Bitcoin Talk forum message in 2013) celebrated on Twitter and Reddit with jokes about buying Lambos, and a clip from Wayne’s World where the main characters frolic and chant, “We’ve got $5,000! We’ve got $5,000!”

On Saturday, the price surged to yet another all-time high, $6,194.88, according to Coinmarketcap.com, and the market capitalization briefly exceeded $100 billion.

The reasons for the jumps are unclear, but unless there's negative news, every day, at minimum, the price is likely to rise because of new money coming into the system. Every day on Coinbase alone, about 35,000 new accounts open -- a figure that sometimes reaches 50,000 -- and thousands of people in South Korea and Japan, two countries where Bitcoin has taken off, are also bringing new fiat money into the system.

But the market’s rosy outlook is in stark contrast to the prognosis many insiders give to Bitcoin right now: The almost nine-year-old cryptocurrency is facing its gravest test yet. Whether or not it will survive, or in what form, is anyone’s guess.

www.forbes.com/sites/l...

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No point reading them articles.

Any info you need to know about bitcoin doombadger is your man. Only expert worth their salt.

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you can bet people are making a ton o money on it but it smacks of bubble

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Yeah, it's hard to say really what it is. It does have potential, but then again, there's nothing to say it cant fail bigtime, either.

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Another decent article, if you're wanting to try and wrap your head around it - www.forbes.com/sites/b...

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Was chatting to a lad at work who used to be a BTC miner 3/4 years ago. He sold 60 bitcoins at $300 a pop. Nice.

But he would have made over a quarter of a million if he'd kept them and sold now

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He fucked his mining rig and decided to get out with what he had left in one of his wallets. Apparently he lost a fair few on his hard drive as well and lost the desire to keep mining.

That was the tale anywho

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Anyone watching Bitcoin at the moment? Went over $7500 today. A Bitcoin in Zimbabwae would cost you $12,500. Everyone is wetting the bed over Segwit2x. Bitcoin is now worth more than Mastercard was in June and dwarfs PayPal. Meanwhile profits for mining are going way up. Can't wait to get my machines. It's pretty crazy.

This fork is nothing like the others. It's a $118billion enterprise spliting almost straight down the middle and racing right towards each other, or rather block 494,784 (ETA November 15th) in a game of chicken as to who will implement replay protection first (and thus capitulate). Could be a major implosion. Either way both ideological algorythims are whoring themselves hard to the miners and my profits are up to £35 a day increasing with hourly refreshes. I have no scruples I'll mine for the Albanian mafia if it's going to pony up more Meth coin.

Moderatly interesting, mainly because only took place a couple of days ago, panel discussion

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Also just found out about this site - urse.io/sho You can buy anything of Amazon for around 15% cheaper, it's like a reverse mining pool for all those in developing countries who contribute code to Amazon Turk, pool together and get you what you want with their amazon credits and in turn split the BTC between them. Sweet.

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waterfordwhispersnews....

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Would it not be silly to buy mining machines now in this day and age?

Would the big mass mining companies not be mining all them, or is it a lottery?

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I'm sure he knows what he's doing Baz. It's not something complex like, say, climbing a ladder.

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It took me a long time to answer that question for myself Baz. And I'm stll not sure if I've done the right thing tbh. Using £'s they look like a good investment, ROI in around 4 months and will be profitable for a couple of years. Or you can generally make a 75% mark up on eBay, though most recent miners are selling at 150% mark up.

Ebay mark up due to demand far out striping supply. Miners appear for sale in 'batches' once every 2 months on average. Wait to recieve them is usually around 2 months and they have always sell out, usually within hours.

But the machines had to be paid for in Bitcoin. So really for them to be profitable measuring them in £'s ROI isn't appropriate, it's makes more sense to base you ROI against holding Bitcoin. I paid about 0.8 bitcoin for them when bitcoin was at $5400. I hadn't calculated to sell a good chunk of bitcoin at that price I was 'forced' because that was when the November batch of miners was released.

I thought, or think I thought, (tbh it's difficult to know how ideological position was influenced by my financial decision or visa versa) that Bitcoin would hit $6000 and slow or drop, that was wrong, It's now at $7350. So in the face of Bitcoins growth will I ever see a profit on the 0.8 BTC invested in mining? Dunno. I will have a daily income in Bitcoin though, and actually getting your hands on BTC generally costs a lot more than bitcoins sitcker price. I dunno. Bitcoin could continue climbing to $20,000

(BTC going from $7,300 to $20,000 in 6 months hardly seems a wild prediction when it has gone from $1000 to $7300 in the previous 6 months)

If your asking about the actual mechanics of mining and how it can still be profitable when 16.6m of a max ever of 21m coins are already mined the reason for that is the technology and the bitcoin algorythrm.

The algorythm is insanely brilliant peice of work. It's to complicated to talk about but these are the numbers - www.bitcoinblockhalf.com

This latest generation of tech seems to be at the limit of what is practical and affordable with silicone. They are fantastically autistic supercomputers. The antiminer S9 is packed with 189, 16nanometer sized chips, that's only slightly bigger than TJ's penis. And at full throttle it completes 135,000,000,000 (135billion) calculations every second. Thats only slightly less than the number of sexual partners Clean/Dirty's mother has had.

According to what I have read anything much below 16nm sized chips and you start running into quantum issues. Although having bought a lot of stuff from China it wouldn't be entirely surprising if when opened the mininer was not briming with cutting edge hardware but rather a metal box stuffed with house cats. You pays your money you takes your chance.

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What's the latest estimate on when you'll get the fleet of Lambos m8? Shouldn't be too far away with your 35 quid a day profits.

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Lol

You sound like you know what you are talking about but sounds complex for a mere mortal like me.

The whole bitcoin thing still a bit baffling but seems to be making some people stinking rich

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Well with £35 a day compound intrest of 4% a Maserati 3200 GT V8 is well within reach in the next 12 months. Give you something to hone your rim work on in the mean time buddy

www.ebay.co.uk/itm/Cla...

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I can't wait a year m8. You'll have to recruit someone else. Best of luck with your venture.

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How much do you think 35 pounds a day at 4 percent compound interest is going to leave you with in a year anyway?

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