Bitcoin is on fire again

[KlokWyze]

$226 on Gox right now. Looks to be boosted strongly by Chinese investors or your average joe. It's rapdily approaching the previous all time high.

I've got the majority of my CC holdings in LTC though.... at least it already recovered from recent lows.

 

[Alienwho]

if litecoin ever hits bitcoin prices i'll be a thousandaire

 

[Red Squirrel]

I really need to get in on this, need to read up more on it though. I have enough space in my server room to setup quite a few serious mining rigs. though I think VGA is out the window now, need to use ASICs which are super expensive.

 

[Tommy2000GT]

is it true you can make millions easy from this?

 

[cheezy321]

I heard bitcoin is now being accepted at hipster bars everywhere.

'Its a currency you probably haven't heard of'

 

[Red Squirrel]

I doubt millions but with a big upfront investment you can make decent money from what I hear. You also have to understand the market well so you know when to convert to dollar.

 

[lxskllr]

is it true you can make millions easy from this?

Absolutely. Where do you think ATOT got all it's wealth? Most here mine on iPads, but that's kind of n00bish. I prefer ReactOS on old P4 machines.

 

[Sinsear]

Don't care

 

[bbhaag]

I bought one bitcoin a couple months ago for around $85. Nice to see it's so high right now.
You guys think I should sell it and then buy more when the price comes back down?

 

[Mixolydian]

You guys think I should sell it and then buy more when the price comes back down?

Is that a serious question?

 

[Imp]

Yay....

 

[Printer Bandit]

how do i make bitcoins? isn't it just 1s and 0s?

 

[ImpulsE69]

Hell's Ya My Iraqi Dinar is worth almost half a cent on the million now!!










oh...wrong topic...

 

[KlokWyze]

ok, so I see you guys are sick of hearing about this shit.

surprised there aren't more enthusiasts on a tech forum. :hmm:

 

[Ns1]

how do i make bitcoins? isn't it just 1s and 0s?

you missed the boat.

 

[IEC]

If you're trying to mine now, you're late to the party.

 

[zinfamous]

is it true you can make millions easy from this?

Yup, I made 5 million yesterday from this.

easy.

 

[zinfamous]

ok, so I see you guys are sick of hearing about this shit.

surprised there aren't more enthusiasts on a tech forum. :hmm:

It's because everyone thought they needed to create their own individual bitcoin thread over the previous 5 months when one would have sufficed.

it's insufferable.

 

[Mixolydian]

surprised there aren't more enthusiasts on a tech forum. :hmm:

ironic isn't it?

 

[zinfamous]

ironic isn't it?

ironic that tech enthusiasts can't use the search feature?

yes, perhaps it is.

 

[Crono]

ok, so I see you guys are sick of hearing about this shit.

surprised there aren't more enthusiasts on a tech forum. :hmm:

I have some litecoins, but I don't have the resources to throw into serious bitcoin mining with ASICs. I don't mind litecoin mining on my home machines now especally since it's getting colder.

I think most of us here view it the same way as investing: it takes a lot of funds to turn a profit, consumes time to stay abreast of developments, and is potentially (or very in the case of altcoins) speculative. Then there's the input cost (namely electricity).

I'm especially wary of altcoins right now because they are more susceptible to manipulation than larger, more stable "real" currencies, but they are becoming more stable and balanced as the markets mature and governments and law enforcement start to accommodate them and treat them like hard currency.

Whoever thought of the "mining" metaphor had it exactly right. Just isn't worth it for everyone to enter the game.

 

[ultimatebob]

I wonder what will make it crash this time... maybe the feds will finally put Mt Gox outta business on money laundering charges.

 

[lxskllr]

ironic that tech enthusiasts can't use the search feature?

yes, perhaps it is.

You either get accused of necromancy, and the thread gets locked, or bitched at for reposting, but the thread stays live. The latter is clearly better.

As far as bitcoin goes, mining was only interesting when it could be done on normal hardware. If you don't have money to lose, it's too risky to buy specialized equipment imo. I'm generally interested in seeing how it's doing, but I don't believe in "investing" in any currency you can't hold, or isn't based in anything real. It's interesting to me due to being electronic cash, and pseudo anonymous.

 

[IEC]

Unless your electricity is super cheap or free (i.e. stealing from employer or you happen to be in a college dorm) even a lot of ASICs are unprofitable right now.

 

[KlokWyze]

ironic that tech enthusiasts can't use the search feature?

yes, perhaps it is.

awwwww little elitist. I even posted in another BTC thread, but it was in the GPU forum. I want to create a thread that will get some responses. Sarcastic and condescending in nature only of course.

I have some litecoins, but I don't have the resources to throw into serious bitcoin mining with ASICs. I don't mind litecoin mining on my home machines now especally since it's getting colder.

I think most of us here view it the same way as investing: it takes a lot of funds to turn a profit, consumes time to stay abreast of developments, and is potentially (or very in the case of altcoins) speculative. Then there's the input cost (name electricity).

I'm especially wary of altcoins right now because they are more susceptible to manipulation than larger, more stable "real" currencies, but they are becoming more stable and balanced as the markets mature and governments and law enforcement start to accommodate them and treat them like hard currency.

Whoever though up of the "mining" metaphor had it exactly right. Just isn't worth it for everyone to enter the game.

Yeah. That's actually where I stand. I had an little ASIC jalapeno for a bit, but I did the calculations and it's just not worth it. You have to setup shop in Africa or the Philippines or something where utilities are cheap.

The altcoins are where the money, and of course, risk is at. TBH though, I don't see these collapsing COMPLETELY anytime soon even IF the US government says they will regulate. It's global P2P. Plus w/ China getting into it big, which I think this latest rally is coming from, you have a multi-national support system even among rival nations.

For those who said you can't mine still are wrong. You can still mine any scrypt coin, but I'd advise against unless you get free/stolen electricity.