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Bitcoin/Ethereum/Litecoin

Discussion in 'Investment and Retirement Planning' started by mrivc211, May 31, 2017.

  1. mrivc211

    mrivc211 Well-Known Member

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    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.
     
  2. b3181981

    b3181981 Well-Known Member

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    How do you cash out and get a real currency like dollars or pounds?
     
  3. mrivc211

    mrivc211 Well-Known Member

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    Sign up at coinbase.com

    link to your bank account. transfer back and forth as needed.
     
  4. bimmerphile

    bimmerphile Open-Air Member

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    dropped around 350 bucks for 1.2 BTC back in 2015, I'm just letting it ride
     
    mrivc211 likes this.
  5. Cessnaflyer

    Cessnaflyer Wooooooooooooooooooooooooooooooo

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    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.
     
  6. bimmerphile

    bimmerphile Open-Air Member

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    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.

    [​IMG]

    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)."
     
  7. Cessnaflyer

    Cessnaflyer Wooooooooooooooooooooooooooooooo

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    When are they expecting it to be completely mined?
     
  8. bimmerphile

    bimmerphile Open-Air Member

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    The block reward halves about every 4 years, so estimates are somewhere around 2140.
     
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  9. Cessnaflyer

    Cessnaflyer Wooooooooooooooooooooooooooooooo

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    Ok hucked a few bucks at it for funsies.
     
  10. Cruise

    Cruise Well-Known Member

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    Yeah, me too. We'll see where it goes.
     
  11. mrivc211

    mrivc211 Well-Known Member

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    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.
     
  12. Chris6

    Chris6 Well-Known Member

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    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.
     
  13. Roger Roger

    Roger Roger Navajo Whisperer

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    This seems like the kind of thing that is going to cost some pilots their retirement.
     
  14. mrivc211

    mrivc211 Well-Known Member

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  15. bimmerphile

    bimmerphile Open-Air Member

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    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
     
  16. mrivc211

    mrivc211 Well-Known Member

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    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 :))))))
     
  17. mrivc211

    mrivc211 Well-Known Member

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    Buy BTS
    Bitshares
     
  18. Cruise

    Cruise Well-Known Member

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    Curious what platform you're using to buy the Bitshares?
     
  19. gotWXdagain

    gotWXdagain Highly Visible Member

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    What? Investing in a currency that has no backing and very little supply control? What could possibly go wrong?
     
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  20. bimmerphile

    bimmerphile Open-Air Member

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    Lol...

    Sent from my SM-G900V using Tapatalk
     
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