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Wow. Bitcoin is almost $1,500

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MaxDepth

Diamond Member
Jun 12, 2001
8,758
43
91
It used to be whether or not the mining paid better than the cost of the system and electricity consumed. That's why a bunch of people went the ASICS route (plus to mention several governments getting in on the action).

So now, the return on investment is low on Bitcoin but a bit higher on the others because bit was first.
 

KentState

Diamond Member
Oct 19, 2001
8,029
271
126
This is when I look back and wonder why I gave up on Bitcoin and sold them for ~$400 each back in 2014. Always late to the game and early out.
 

ponyo

Lifer
Feb 14, 2002
18,205
1,755
126
It's been another two weeks or so since the last price update. Bitcoin is up another $500-600 and ethereum is up close to $100 more.

Current bitcoin price: $2,833.72
Current ethereum price: $257.92
 
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Yakk

Golden Member
May 28, 2016
1,574
272
81
BTC way up and swinging $200 up & down, ETH up.

It's a beautiful, beautiful day.
 

gorobei

Diamond Member
Jan 7, 2007
3,136
295
126
This is when I look back and wonder why I gave up on Bitcoin and sold them for ~$400 each back in 2014. Always late to the game and early out.
Yea hindsight is always 20/20.
apparently foresight is 3000:3 since the coins i mined for 3$ are now worth $3000 each.

i commented in the original bitcoin thread in VC&G back in 2011 that anyone who was getting into mining should figure out if they were mining for the quick turnaround or speculation on btc as a commodity. at the time the crash from $20 down to $2 following mtgox and the online wallet scams made it easier to decide to hold on to my coins.

going with amd 5870 for my gaming rig at the time sure did pay off.
 
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RockinZ28

Platinum Member
Mar 5, 2008
2,175
49
101
Anywhere you can buy/sell coins like BTC, LTC, and ETH almost instantly for low fees?

I joined Coinbase, bought some ETH and LTC a few days ago, but it takes a week before it's available to sell...

Also any cheap cryptocurrencies you'd recommend buying a number of and where/how to buy? Just looking for the chance that it could increase 100s of times their value several years from now.

Know this shit is probably going to crash, but don't mind losing a few grand for a chance to make some decent returns. And if it does crash, I'll just buy some more :).
 

gorobei

Diamond Member
Jan 7, 2007
3,136
295
126
Anywhere you can buy/sell coins like BTC, LTC, and ETH almost instantly for low fees?

I joined Coinbase, bought some ETH and LTC a few days ago, but it takes a week before it's available to sell...

Also any cheap cryptocurrencies you'd recommend buying a number of and where/how to buy? Just looking for the chance that it could increase 100s of times their value several years from now.

Know this shit is probably going to crash, but don't mind losing a few grand for a chance to make some decent returns. And if it does crash, I'll just buy some more :).
dont know about the trading part, but the whole alt coin speculation is pure penny stock as far as predictability. theoretically one of the coin systems will implement all the ideal features of cryptocurrency(decentralized record keeping/high security/ease of transaction/etc) and gain traditional financial services adoption.
but we arent there yet.
at best all the coins are serving as a way to store assets outside of the banks. btc has the largest market cap with eth gaining fast, but neither are the magic bullet that the banks will buy into. at best you can follow all the alts and try to recognize when one gains major support from the banks or retailers as a transaction service. to some degree by being first btc will function like the gold vault as a repository for the value.
 

Yakk

Golden Member
May 28, 2016
1,574
272
81
As long as I'm along for the ride, I don't care :D

New rig is pulling in numbers I like, and it's only getting better.
Miners are happy, traders are happy, the birds are singing... Brings a tear to the eye...
going with amd 5870 for my gaming rig at the time sure did pay off.
Dude! I've been seriously considering framing my original 5870 mining card, maybe even build it a shrine.

(well maybe not a shrine, but definitely a frame & place of honour)
 

RockinZ28

Platinum Member
Mar 5, 2008
2,175
49
101
dont know about the trading part, but the whole alt coin speculation is pure penny stock as far as predictability. theoretically one of the coin systems will implement all the ideal features of cryptocurrency(decentralized record keeping/high security/ease of transaction/etc) and gain traditional financial services adoption.
but we arent there yet.
at best all the coins are serving as a way to store assets outside of the banks. btc has the largest market cap with eth gaining fast, but neither are the magic bullet that the banks will buy into. at best you can follow all the alts and try to recognize when one gains major support from the banks or retailers as a transaction service. to some degree by being first btc will function like the gold vault as a repository for the value.
Yeah, don't mind throwing a few hundred on various coins that are currently worth pennies or less. Maybe I should look in to mining them instead I suppose.
 

Capt Caveman

Lifer
Jan 30, 2005
34,546
646
126
Recently sold an AMD Fury card and I thought it was a good price I was asking for and the buyer totally agreed so I know I should have asked for a lot more and realize he wanted it for mining.

Guy at work has been investing in different currencies and his $1k invest has already become $20k in a month. May dabble with some money. I guess he's big on DGB.
 

gorobei

Diamond Member
Jan 7, 2007
3,136
295
126
so a bunch of finance speculators got burned by a market manipulator triggering their automated stop loss orders. everyone else who wasnt gambling with other people's money werent affected and the price went back to normal in less than a day. cry me a river for those 'poor' traders.

the system went on as normal, only the one exchange was affected because there is no underlying business model to the cryptocurrencies or smart contracts to game/predict/forcast yet.
 

RockinZ28

Platinum Member
Mar 5, 2008
2,175
49
101
Hmm, suppose I should just create some orders for like $1 on BTC, ETH and LTC indefinitely just in case it happens again god damnit lol. I did have a couple set for $290 & $295 ETH, which obviously got filled.

I'm finding it's fucking hard to be patient with investments outside of retirement accounts.
 

Yakk

Golden Member
May 28, 2016
1,574
272
81
I assume they will be honored (if legit)?

I guess it depends on when trading was stopped....
I don't see why it wouldn't be honoured. It was a massive, but as far as I can see, legal (in the coin world) sell-off. There is little in terms of market protection in the coin world, as opposed to regular stocks which would suspend trading if the market starts crashing.

I had closed my ETH positions seeing a weakness in ETH compared to ZEC even with a lot more activity, and sellers were oddly high in the last week. Never thought to put stupid low buy orders though.

:( again.
 

ImpulsE69

Lifer
Jan 8, 2010
14,794
825
126
so a bunch of finance speculators got burned by a market manipulator triggering their automated stop loss orders. everyone else who wasnt gambling with other people's money werent affected and the price went back to normal in less than a day. cry me a river for those 'poor' traders.

the system went on as normal, only the one exchange was affected because there is no underlying business model to the cryptocurrencies or smart contracts to game/predict/forcast yet.
I read in multiple places people were saying their accounts were just gone when it came back. Was that not the case? Did all those people have $2 stop losses?
 

Train

Lifer
Jun 22, 2000
13,724
23
81
www.bing.com
damn, flew past $4k and approaching $4.1k

I've always been fascinated with BTC, but never bothered to set up a wallet and buy or mine any until I could do it right from my USAA account. So bought 4 bit "cents" a couple months ago for $100, now worth double. Woot.
 

Craig234

Lifer
May 1, 2006
38,584
344
126
It's worth something because enough people agreed that it would be worth something.
/thread

It has no real value.

And that means as long as people want it to have value,and are willing to give real things for it, it has that value. And when they no longer do - such as when it starts to fall and everyone wants out before it falls further - it doesn't.
 

KentState

Diamond Member
Oct 19, 2001
8,029
271
126
I had all my wallets on a VM sitting on a backup. Loaded it up yesterday and found I still had some partial Bitcoins. It was like finding a $100 bill stuck in a pocket of an old jacket.
 

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