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Bitcoin/Ethereum/Litecoin

mrivc211

Well-Known Member
#1
Is anyone buying this online currency? I was skeptical 9 months ago when I was first told about it. It was $894 per coin. Now its at $2300ish. I bought it finally at $1800. I also bought Ethereum at $89 about a month ago and have been topping off since. It will be interesting to see where this goes.
 

b3181981

Well-Known Member
#2
Is anyone buying this online currency? I was skeptical 9 months ago when I was first told about it. It was $894 per coin. Now its at $2300ish. I bought it finally at $1800. I also bought Ethereum at $89 about a month ago and have been topping off since. It will be interesting to see where this goes.
How do you cash out and get a real currency like dollars or pounds?
 

Cessnaflyer

Wooooooooooooooooooooooooooooooo
#5
I usually have a few calls a week for people looking for data mining industrial locations with enough power installed to run the computers and cooling. Late to the game. Everyone is having to build their own infrastructure here.

What I don't understand is if there is an unlimited supply of production for data mining why wouldn't this be the same as a Treasury printing money deflating value? The only check I see is mining will be less valuable as time goes on and then a huge inflation of value.
 

bimmerphile

SuperCritical™ Member
#6
I usually have a few calls a week for people looking for data mining industrial locations with enough power installed to run the computers and cooling. Late to the game. Everyone is having to build their own infrastructure here.

What I don't understand is if there is an unlimited supply of production for data mining why wouldn't this be the same as a Treasury printing money deflating value? The only check I see is mining will be less valuable as time goes on and then a huge inflation of value.
There will only ever be 21 million bitcoins, which will become harder and harder to produce as more are mined.


"Every block introduces 50 new coins in the system. This quantity (50) halves every 210,000 blocks. So, getting the limit of coins it is possible to generate is quite easy : it's the sum of a geometric series.



Also, note that this is an upper bound ; the actual quantity will probably be a bit lower due to rounding issues (BTC has a finite number of decimals, 8)."
 

Cessnaflyer

Wooooooooooooooooooooooooooooooo
#7
There will only ever be 21 million bitcoins, which will become harder and harder to produce as more are mined.


"Every block introduces 50 new coins in the system. This quantity (50) halves every 210,000 blocks. So, getting the limit of coins it is possible to generate is quite easy : it's the sum of a geometric series.



Also, note that this is an upper bound ; the actual quantity will probably be a bit lower due to rounding issues (BTC has a finite number of decimals, 8)."
When are they expecting it to be completely mined?
 

mrivc211

Well-Known Member
#11
Don't buy bitcoin anymore. Buy Ethereum. It's rallying upto $320 at the moment and climbing. Thats the one I tripled down on. The alt coins is where the real money making is at. It's highly risky so spread the risk and buy a few different ones. I"m going to the currency conference in November in Cancun to help launch a new currency.
 

Chris6

Well-Known Member
#12
Indeed, the miners are buying lots of hardware for Ethereum mining right now. Rx 400 and 500 series GPUs seem to be the flavor of choice.
 

bimmerphile

SuperCritical™ Member
#15
Don't buy bitcoin anymore. Buy Ethereum. It's rallying upto $320 at the moment and climbing. Thats the one I tripled down on. The alt coins is where the real money making is at. It's highly risky so spread the risk and buy a few different ones. I"m going to the currency conference in November in Cancun to help launch a new currency.
I wouldn't call buying different variations of highly volatile, new currencies "spreading risk"
Litecoin or BTC aren't really more conservative than Ethereum.


Sent from my SM-G900V using Tapatalk
 

mrivc211

Well-Known Member
#16
I wouldn't call buying different variations of highly volatile, new currencies "spreading risk"
Litecoin or BTC aren't really more conservative than Ethereum.


Sent from my SM-G900V using Tapatalk
It's at $400 this morning :)

I remember the "successful" pilot at my office who trashed crypto currency in front of the whole office when it was at $130. I'll be sure to print out the price today and hang it on the wall :))))))