Other Crypto

CARBONX2

CARBONX2

Location
South Africa
smoofers said:
To expand on coin "mining", at least for bitcoin (i'm willing to bet the others are similar), coins can be mined by solving incredibly complex mathematical equations. Based on how quickly coins are being mined, the equations will become more complex to slow down the mining process (globally) and thus slow the release or stem the tide of new coins flooding the market.
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Complexity is quantum leaps from where it was 2 yrs ago. People keep building better mines as technology develops but the speed of coin mining is still decreasing
 
Quinc

Quinc

Buy a Superjet
Location
California
You would think the crazy super computers that IBM and Intel have that are cooled with liquid nitrogen etc And the TSA vast computer power they would have billions worth of crypto currency. Or if ASUS and AMD etc took a chunk of old stock or cards that will not be released for a few years and built a rig.
 
Quinc

Quinc

Buy a Superjet
Location
California
Article on the power consumption mining takes:
http://www.wired.co.uk/article/how-much-energy-does-bitcoin-mining-really-use


"Digiconomist suggests Visa's payment systems uses the energy equivalent of 50,000 US households to run 350 million transactions, while bitcoin uses the energy equivalent of 2.8 million US households to run 350,000 transactions on a good day — in short, Visa does more with less. As the site’s rationale explains, bitcoin is increasingly becoming a tool for the rich but we’re all paying the price for a system that uses 20,000 times (give or take) more energy than traditional systems per transaction."
 
mase911j

mase911j

Location
virginia beach
Jesus!!! Yeah, you'd need to rent a space that included electricity in the rent to run the mines like one of the earlier posters said

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Ducky

Ducky

Back in the game!
Location
Charlotte, NC
CARBONX2 said:
Too many newbie investors panicking, then stop-losses are triggered, snowball effect. Roughly at a 50% retracement, which is common in investment cycles.
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That is exactly how you know it is a poor investment, even though it is supposed to be a currency. Once it is too mainstream and the gains were too easy, it is bound to pop.
 
CARBONX2

CARBONX2

Location
South Africa
Well, even with the drop I am making $1000 profit a month off rigs that paid for themselves in 6 months before the price of Eth ran up in Dec/Jan(Was en route to $2000 profit per month with early Jan prices). So still a pretty good investment for me. I stayed out of BTC, the fundamentals aren't there. Everybody tries to equate Btc to gold, how much has gold escalated in the last 2yrs???
 
Ducky

Ducky

Back in the game!
Location
Charlotte, NC
CARBONX2 said:
Well, even with the drop I am making $1000 profit a month off rigs that paid for themselves in 6 months before the price of Eth ran up in Dec/Jan(Was en route to $2000 profit per month with early Jan prices). So still a pretty good investment for me. I stayed out of BTC, the fundamentals aren't there. Everybody tries to equate Btc to gold, how much has gold escalated in the last 2yrs???
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For sure man, there is money to be made, but for the average person with a coinbase account....good luck! lol.
 
CARBONX2

CARBONX2

Location
South Africa
Articles in the news here where people sold cars, etc. for btc, now they're up sh1tcreek. I had a friend try get me into a btc scheme where you received 7% interest a week, he didn't sound too good when he phoned me the other day, haha
 
DAG

DAG

Yes, my balls tickled from that landing
Location
Charlotte, NC
Anyone watched this yet?
upload_2018-1-17_11-26-10.png

Watched it last night. Interesting backstory. I personally love the innovation and how much it circumvents the banking system and sticks it to "the man".
 
DAG

DAG

Yes, my balls tickled from that landing
Location
Charlotte, NC
Cooked Duck said:
...but it only "sticks it to the man" until they decide to regulate and tax it
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Hard negative on that ghost rider. While I strongly believe it should all be taxed just like any other investment, its still sticking it to the banking system as they got rid of the banking system. bye bye middle man.

Theirs not much out there thats more powerful than the banking system and all the politics surrounding it and these jackoffs were able to find a workaround. pure innovation. how can anyone not love that?

Regardless its a good watch if you like documentations like I do. Disclaimer I have no idea how factual it is, nor do i really care to spend the time to find out.
 
Ducky

Ducky

Back in the game!
Location
Charlotte, NC
DAG said:
Hard negative on that ghost rider. While I strongly believe it should all be taxed just like any other investment, its still sticking it to the banking system as they got rid of the banking system. bye bye middle man.

Theirs not much out there thats more powerful than the banking system and all the politics surrounding it and these jackoffs were able to find a workaround. pure innovation. how can anyone not love that?

Regardless its a good watch if you like documentations like I do. Disclaimer I have no idea how factual it is, nor do i really care to spend the time to find out.
Click to expand...

While I agree on the most part, what a lot of people dont know is that the banks and funds are already so heavily invested in certain crypto-currencies, they can so easily manipulate the markets.
 
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mydixiewrecked

mydixiewrecked

Location
Washington
What just happened
bbc3848b5bff08cca94935c4aa680970.jpg


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