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Forum » Bitcoin just hit $6,000 a coin
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Thread: Bitcoin just hit $6,000 a coin

post 1523284621 10-20-2017, 12:38 PM
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#61
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****, remember when they just came out, everyone was posting here on misc, they were like 5or 50 cents back then
We'r all gonna make it brah's.

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post 1523284691 10-20-2017, 12:39 PM
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#62
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Originally Posted By SixThree205⏩
Happy merchant created it and controls it and has access to unlimited nuclear energy and military tech to mine it because he controls all western governments.

Actually the US government is the biggest holder of bitcoins at the moment if I'm not mistaken. The Silk Road seizure alone would put in the top 5 holders.
Lol they sold it way back in 2015...
They could've made way more if they held onto them until today.
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post 1523284791 10-20-2017, 12:40 PM
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Will smaller bitcoins come out?

1/4 a bitcoin, 1/2 a bitcoin, etc.

If the stock market crashes brutally as is expected, cryptocurrencies may become a more popular way to protect your money. Russia came out with the CryptoRuble recently.
post 1523285341 10-20-2017, 12:44 PM
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#64
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I'm just piggy-backing this bubble with Nvidia stock. Can't wait for this to cool down so I can watch that drop 50%. Not srs.
post 1523303781 10-20-2017, 03:35 PM
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#65
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I'm about to buy an ethereum mining rig... just a cheap one. I live in an apartment so don't have the power available to have multiple servers. Plus I hear they are loud. They say ethereum is the next bitcoin
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post 1523304191 10-20-2017, 03:39 PM
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#66
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i sold my instagram name for $500 dollars in bitcoins

over 40 days in may(i made 65 days in 7 days waiting for my bank verification)

I left $10 in there so i took out 555 leaving $10 worth of bitcoin in may

i logged in today and my balance is 0$

how
post 1523304361 10-20-2017, 03:42 PM
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#67
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Bought some at $600 last year then sold it at $1200 just before the massive rise in the summer.
Feelsbad.
post 1523304601 10-20-2017, 03:45 PM
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#68
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I had some I left in mintpal as just an investment that I would forget about.

Mintpal got fuked, left with nothing.

Careful which wallet you choose lol.

After that, I'm completely out. Not secure enough.
post 1523305131 10-20-2017, 03:52 PM
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#69
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Originally Posted By Burgerbuger⏩
The problem is you might wake up and your $6000 is now $350,000 bucks.
fixed
post 1523305701 10-20-2017, 04:01 PM
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#70
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feelsbadman.
Missed every chance to buy in.
Always keep doubting it.
Even when it was like 100 bucks I thought it was done.. and now?.. fml..
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post 1523306211 10-20-2017, 04:06 PM
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#71
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Feels good to know I have 29 btc safely stashed in my offline wallet, yes I invested around $25k back in 2012-2013. This is just the start, btc could easily hit 10k to 100k in the foreseeable future.
post 1523306381 10-20-2017, 04:09 PM
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#72
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digital tulip bulbs
Make Europe Germany Again
post 1523306461 10-20-2017, 04:10 PM
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#73
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Originally Posted By jamalfudge⏩
Not subject to manipulation by Kabbalistic Banksters, and the value is perceived. Part of why it's worth more money is because paper money's buying power is shrinking.
It also exists.
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post 1523306581 10-20-2017, 04:11 PM
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#74
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Originally Posted By Ratfish⏩
digital tulip bulbs
lol...is there not a finite amount of bitcoins that can be produced though?

I've not invested but am tempted
post 1523306711 10-20-2017, 04:14 PM
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#75
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Originally Posted By Ratfish⏩
digital tulip bulbs
nah. cryptocurrency as a whole is exploding for good reasons. consider that most of the world doesn't enjoy stable governance and it's hard for people to stash away wealth from hyperinflation, unlawful seizures, theft and whatnot. if a Chavez or Mugabe tries to destroy everyone's money, you don't even have to make a run for precious metals or offshore investments - you just buy cryptocurrency.

maybe other cryptocurrencies will topple bitcoin in the future - after all, what people perceive Bitcoin's value to be is all it's worth; there's better technology out there already. but there's real value in buying a bitcoin to do things with it, and the speculation's premise comes from that.
Go Canucks Go!



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Et demain toi et moi serons partis
post 1523306881 10-20-2017, 04:17 PM
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#76
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bitcoin is in a computer right? and computers are made by humans right? what keeps someone with knowledge from hacking and stealing bitcoins
post 1523307001 10-20-2017, 04:19 PM
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#77
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Originally Posted By Savux⏩
I had some I left in mintpal as just an investment that I would forget about.

Mintpal got fuked, left with nothing.

Careful which wallet you choose lol.

After that, I'm completely out. Not secure enough.
wait what? aware me how this stuff works. seems like the most illegitimate thing ever created
post 1523307181 10-20-2017, 04:21 PM
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#78
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Originally Posted By Admired⏩
Feels good to know I have 29 btc safely stashed in my offline wallet, yes I invested around $25k back in 2012-2013. This is just the start, btc could easily hit 10k to 100k in the foreseeable future.
how do you buy things with it? like, could you use it for a down payment on a car or a house?
post 1523307461 10-20-2017, 04:25 PM
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#79
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Originally Posted By fishnbrah⏩
wait what? aware me how this stuff works. seems like the most illegitimate thing ever created
You store them in an online "wallet" to allow trading for other crypto currencies. (I don't exactly remember, this was years ago and it was quite complicated at the time.)

Mintpal was one of these and I don't know the full story as I was completely out of interest and not keeping up with it when it even happened. But basically I think the owner took a bunch of BTC and shut down the site or something along those lines.

My plan was just to leave mine there and come back in a few years if it increased. If I pay attention to investments like this I go crazy, so I like to just invest and leave it for a while.

Whatever I only invested what I was comfortable losing, so I don't really care.
post 1523307731 10-20-2017, 04:29 PM
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#80
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Originally Posted By fishnbrah⏩
bitcoin is in a computer right? and computers are made by humans right? what keeps someone with knowledge from hacking and stealing bitcoins
OOhh that would NEVER happen. Ever. It's impossible in an unregulated system for someone to just up and steal everyone's bitcoin. Just imagine someone storing all your coins in a virtual bank and suddenly getting 'hacked'. It would never happen. there would be so much backlash and everyone would wind up in jail. besides, it's all insured in case something like that ever happened.
post 1523307871 10-20-2017, 04:30 PM
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#81
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Originally Posted By usersignup2⏩
OOhh that would NEVER happen. Ever. It's impossible in an unregulated system for someone to just up and steal everyone's bitcoin. Just imagine someone storing all your coins in a virtual bank and suddenly getting 'hacked'. It would never happen. there would be so much backlash and everyone would wind up in jail. besides, it's all insured in case something like that ever happened.
Make Europe Germany Again
post 1523308241 10-20-2017, 04:34 PM
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#82
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pretty sure the majority of the idiots ITT don't even understand blockchain or know what it is
watchout your comments boyo ↓
post 1523308291 10-20-2017, 04:34 PM
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#83
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Originally Posted By quadfecta⏩
The bigger the risk the higher the reward.
just in case some miscer is new to investing...



this right here ^^^ is possibly the most erroneous piece of investing advice you will ever read.

the fact is, higher risk does NOT equate to greater reward. there is absolutely no correlation between the two
post 1523308391 10-20-2017, 04:36 PM
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#84
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Originally Posted By Savux⏩
You store them in an online "wallet" to allow trading for other crypto currencies. (I don't exactly remember, this was years ago and it was quite complicated at the time.)

Mintpal was one of these and I don't know the full story as I was completely out of interest and not keeping up with it when it even happened. But basically I think the owner took a bunch of BTC and shut down the site or something along those lines.

My plan was just to leave mine there and come back in a few years if it increased. If I pay attention to investments like this I go crazy, so I like to just invest and leave it for a while.

Whatever I only invested what I was comfortable losing, so I don't really care.
whats an online wallet, someone has to create that program what keeps them from stealing them or just deleting the website and disappearing
post 1523308531 10-20-2017, 04:37 PM
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#85
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i keep getting mixed messages regarding the actual liquidity. there's a titty bar in town that accepts it. some retailers do.

if someone wants to liquidate their holdings today to pay their mortgage at the end of the month, what does the process look like?
Make Europe Germany Again
post 1523310131 10-20-2017, 04:58 PM
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#86
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I want to say the documentary I watched was on HBO, but it was showing warehouses filled with computers and cabling mining for bitcoin, this was years ago. This thread made me do a quick search, looks like a standard PC would need around 2 million years to mine 1 block. No thanx, jeff.
How much time in average does it take for an simple PC to create block?

1. Look up the currentBitcoin difficulty value. Right now it is 460,769,358,091. Let's use scientific notation: 4.6e11.

2. The difficulty determines the average number of hashes needed to mine one block. A minimum difficulty of 1 corresponds to 2^32 = 4.3e9 hashes, so we need an average of 4.6e11 * 4.3e9 = 2.0e21 hashes to mine a block.
(More precisely, each hash performed has a probability of 1 in 2.0e21 of successfully creating a block.)

3. Look up the approximate hash rate for the hardware you have in mind. For CPUs and GPUs there is a tablehere; ASIC devices can be foundhere. According to that table, a Core i7 2600 CPU can do 23.9 MHash per second, or 2.3e7 hashes per second. Maybe you are starting to see the problem.

4. 2.0e21 / 2.3e7 = 8.7e13. That is the average number of seconds your computer will need to mine one block. It is about 2.7 million years.

This should give you a sense as to why all Bitcoin mining is now done with specialized ASIC hardware, which is many orders of magnitude faster and more energy-efficient.
https://bitcoin.stackexchange.com/qu...o-create-block

Guess I'm stickin' with my centralized country backed currency.
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post 1523310261 10-20-2017, 05:00 PM
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#87
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is mining for bitcoin still fairly easy?

even if it takes 3 months to mine one bitcoin, it's still $6k made in 3 months.

right now mining seems to be worth it.
RIP mainsqueeze530 1991-2013
post 1523311551 10-20-2017, 05:17 PM
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#88
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Gonna be nuts when people realize how much more practical eth is...
But why isnt ETH rising with BTC like it usually does? Kinda suspicious to me...
post 1523312281 10-20-2017, 05:25 PM
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#89
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Originally Posted By jujuB⏩
is mining for bitcoin still fairly easy?

even if it takes 3 months to mine one bitcoin, it's still $6k made in 3 months.

right now mining seems to be worth it.
if you cant really buy anything with it how is it worth $6k?
post 1523312611 10-20-2017, 05:29 PM
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#90
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Originally Posted By Bentley41⏩
Gonna be nuts when people realize how much more practical eth is...
But why isnt ETH rising with BTC like it usually does? Kinda suspicious to me...
Greater fools theory. Its the same reason you have a bunch of potato heads itt wanting to buy bitcoin right now. Bitcoin is only worth something because one potato will sell to another potato for a higher price.
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