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Bitcoin is on fire again

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I'm 90% out of the market for now. Converted most of my mined LTC to BTC taking advantage of the high conversion rate and cashed out.

Almost 100% pure profit in a few days is dizzying. Profits that are mostly going to be fed back into GPUs on Black Friday 😀
 
BitCoins IMHO are a 1%r method of money laundry. They are passing some of the take back, but only the savvy and those with money (for those GPU's) were able to cash in.
 
gothamhunter said:
EVeryone's panic selling LTC; might give me a chance to invest in some more.
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Panic sellers and buyers are the suckers. They are just cashed out what looks to be early. Now more people will see that, invest more, driving the price higher and they will be all like :'(

alkemyst said:
BitCoins IMHO are a 1%r method of money laundry. They are passing some of the take back, but only the savvy and those with money (for those GPU's) were able to cash in.
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You have no understanding of this shit do you?
 
OK then.... quick plummet of death, then back up over $1000. Currently $1013 @ gox.

LTC hitting the $30 mark. Topped a historic $20 last night.

This is fun. Think I'll cash out a little right now...... not sure how long this can last, but the payoff if it does is exponentially profitable.
 
Managed to pick up a bunch of PowerColor PCS+ 7950s from Newegg while they were $161.99 each after coupon (with additional $30 MIR, limit 1).

Time for more milk crate mining rigs 🙂
 
IEC said:
Managed to pick up a bunch of PowerColor PCS+ 7950s from Newegg while they were $161.99 each after coupon (with additional $30 MIR, limit 1).

Time for more milk crate mining rigs 🙂
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heh nice. yeah i've got an open air rig sitting beneath my basement workbench. 7950 actually. TBH I'd maybe go with something with more juice. or if you can bare it, monitor difficulties and switch up pools/coins depending.

LTC @ $36!!!!!!!! Looks like it's growing steady with tons of buy support. W.T.F.

BTC on BTC-E @ $944 and on Gox @$1070.
 
I thought the era of GPU mining was over with the high difficulty? I suppose it doesn't matter if you have electric heat and are in a cold climate but I keep hearing ASICs are the way to go.
 
Captain Howdy said:
I thought the era of GPU mining was over with the high difficulty? I suppose it doesn't matter if you have electric heat and are in a cold climate but I keep hearing ASICs are the way to go.
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At this point in time no ASICs mine scrypt based coins, which are king when considering the exchanges. If you want bitcoin, you just mine those with GPUs and convert to BTC. Honestly, right now, just buy BTC, convert to an alt and watch it grow.... during the bubble at least. When it all comes crashing down you wont like. When the prices "correct" though, they will be a considerable portion of the spike.
 
LTC goes from 5 cents to $40 in less than a year... And you thought that Bitcoin's gains were impressive. 🙂

When the invitable crash happens, I wonder where it will settle?
 
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Litecoin. I love you for making me a thousandaire. Now if namecoin does what litecoin does I'll be a ten-thousandaire.
 
Printer Bandit said:
i'm investing my life savings in peercoins. hope to buy an island in a couple years and relax.
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Sadly, some guys out there are probably actually doing that right now. They are going to get their asses kicked when the bubble bursts and these things drop to a somewhat sensible value.
 
LTC went over $40, crashed to $34 and recovered(tentatively) to $39.5.... I think it will go up. I'm holding.... maybe FTC, PPC or XPM.... or NMC will go up? I've got holdings in all but NMC.

FFS, you would think this topic would be more popular on a tech site. You are the sorriest bunch of un-savvy fucks ever.... lol!
 
I'm not sure if it'll keep going up, but as long as it stays above $5/coin and difficulty doesn't increase too much it will remain profitable for me to mine (+ the waste heat is great in the winter).
 
IEC said:
I'm not sure if it'll keep going up, but as long as it stays above $5/coin and difficulty doesn't increase too much it will remain profitable for me to mine (+ the waste heat is great in the winter).
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Electricity is expensive where I'm at (northern VA) and it was questionable before, but now it's not. What I was paying then for mining is easily negated now that the prices are so high. Even if they fall substantially I'm still very profitable.

Any sort of heat benefit has to be a complete waste unless you are living in a tiny apartment in Manhattan during the Winter. Or have a respectable mining operation going.... I mean, I've got 2 video cards going in a town house. lol!
 
I finally sold the rest of my coins. I bought in at $90 a coin and I'm happy with my return. Even if it goes higher I have no regrets. At this point I made my money back ten fold.
It's gonna be a good Christmas for the kids.🙂
 
My bet is on XPM.

BTC and LTC are in the game for good. THey'll fluctuate, but long term will only continue to increase. There isnt room for ALL the rest of them, but I think one or two more will become more accepted and rise in value.

My bet is on Primecoin because there isnt a limited number and the transactions are faster, so in my mind it is more useful for day to day transactions unlike BTC and LTC which I see as more of a store of value. I also think XMP has an advantage because its calculations are at least somewhat useful to science, giving people something to rally around.

Who knows, maybe they'll ALL be worthless tomorrow, but that's my bet. And I've got my cpu mining away on the XPMs.
 
KlokWyze said:
Electricity is expensive where I'm at (northern VA) and it was questionable before, but now it's not. What I was paying then for mining is easily negated now that the prices are so high. Even if they fall substantially I'm still very profitable.

Any sort of heat benefit has to be a complete waste unless you are living in a tiny apartment in Manhattan during the Winter. Or have a respectable mining operation going.... I mean, I've got 2 video cards going in a town house. lol!
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I'm heating a 1600 sq ft house with 6 cards blowing directly into the air intake. I have to hit the heater occasionally, but it keeps it comfortable in here. I'm in the south though.
 
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