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Author Topic: Bitcoin  (Read 204 times)

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Calamitas

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Bitcoin
« on: June 09, 2017, 06:16:44 am »
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Earn free bitcoin(Not sure if this is legit but I'm trying it out by posting the link; Update to come)

But generally, what do you think about bitcoin in general and in how far do you consider Bitcoin a sensible investment?


Link removed by admin.  TANSTAAFL
« Last Edit: June 09, 2017, 11:22:43 am by theory »
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Awaclus

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Re: Bitcoin
« Reply #1 on: June 09, 2017, 09:19:18 am »
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I don't think Bitcoin is secure enough for the purposes people need it for. That's the main reason why I haven't invested any money or computing power into it.

Chris is me

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Re: Bitcoin
« Reply #2 on: June 09, 2017, 10:49:10 am »
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Bitcoin is snake oil for libertarians

On a more serious note, I wouldn't post a link to what seems to be very apparently some sort of referral scheme.
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pingpongsam

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Re: Bitcoin
« Reply #3 on: June 09, 2017, 11:17:46 am »
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I mined bitcoin back when it was .03 a coin. I know I had at least 100 coins (solved 2 blocks). At some point I lost that wallet because when it started skyrocketing I certainly looked for it. I did mine some more along with LTC and really got into trading before ASICs hit the market. Once GPUs were out of the picture I sold off everything and have never looked back.

It was one of those once in a lifetime money making things. I made around $10,000 most of which I put into a wood shop and having a kid. I have zero regrets except for not keeping better tabs on that first wallet. There was certainly opportunity make significantly more, I recall a period where the big thing was to enter mining coops that had monthly dividends paid after operating expenses were recouped. I had about 4000 LTC tied up in one when the operator went poof with all of our coins. Had aI sold at the high of ~$50... ... anyhow, I did dodge the whole mtgox debacle where the real heist happened.

Overall, I'd say bitcoin is useful for the things it is useful for which are generally going to be controversial which is apropos considering the controversy surrounding the currency itself. When I got involved with it I was already readily aware of the failings of our modern banking/commerce/debt currency paradigm. Watching a philosophical solution come into practice and ultimately succumb to the trappings of the preceding system was very enlightening.
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ThetaSigma12

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Re: Bitcoin
« Reply #4 on: June 09, 2017, 11:25:33 am »
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Link removed by admin.  TANSTAAFL
This literally made me laugh out loud.
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Calamitas

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Re: Bitcoin
« Reply #5 on: June 09, 2017, 06:32:16 pm »
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Link removed by admin.  TANSTAAFL
This literally made me laugh out loud.
Same goes for me :D

I figured though that I could safely test it here because of a generally high intelligence density and not a too high user frequency :D

I didn't put too much confidence in it being legit though  ;D


Either way, I think bitcoin's potential is primarily tied to usage because of the hard cap at, I think, 21 millions.
The biggest danger is probably a legitmate rivaling cryptocurrency that is leading to an immense decrease in demand.
Prices would drop vastly and as a consequence cryptocurrencies would be damaged forever.
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Re: Bitcoin
« Reply #6 on: June 09, 2017, 06:56:09 pm »
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Either way, I think bitcoin's potential is primarily tied to usage because of the hard cap at, I think, 21 millions.
The biggest danger is probably a legitmate rivaling cryptocurrency that is leading to an immense decrease in demand.

Isn't that what Ethereum is?

Other than something you could mine in World of Warcraft, that is.
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Calamitas

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Re: Bitcoin
« Reply #7 on: June 09, 2017, 07:09:36 pm »
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Either way, I think bitcoin's potential is primarily tied to usage because of the hard cap at, I think, 21 millions.
The biggest danger is probably a legitmate rivaling cryptocurrency that is leading to an immense decrease in demand.

Isn't that what Ethereum is?

Other than something you could mine in World of Warcraft, that is.
Ethereum is not competitive enough to create the effects I am talking off.
I rather mean something that is better on so many levels that basically everyone would prefer that currency over bitcoin.
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Oh, i just don't like mafia games.

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