SearchlightDon't forget that the inventor of Bitcoin basically generated a big pile of money before making it available to the public.
That's what you have to do to start a blockchain, apparently. All coins have had slight premining
except for novacoin, where the creator apparently premined 210k coins and gave 110k away to btc-e
[quote=Searchlight]Don't forget that the inventor of Bitcoin basically generated a big pile of money before making it available to the public.[/quote]
That's what you have to do to start a blockchain, apparently. All coins have had slight premining
except for novacoin, where the creator apparently premined 210k coins and gave 110k away to btc-e
BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY
SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL
BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY BUY
SELL SELL SELL SELL SELL SELL SELL SELL SELL SELL
shoulda mined back in 2009. that asian guy was right. rip my fortune
shoulda mined back in 2009. that asian guy was right. rip my fortune
I mined 3 bitcoins when they first started emerging, but decided that it was a dead end and gave up. Wish I would have kept it up. I wasn't paying for the power so it was basically pure profit.
I mined 3 bitcoins when they first started emerging, but decided that it was a dead end and gave up. Wish I would have kept it up. I wasn't paying for the power so it was basically pure profit.
got 5 bitcoins from my uncle 2 weeks ago for my birthday. Whoop
got 5 bitcoins from my uncle 2 weeks ago for my birthday. Whoop
[img]http://cdn.memegenerator.net/instances/400x/26698104.jpg[/img]
To all the people who are talking about mining bitcoins as if it's a good idea, I'm pretty sure none of you has the computing resources necessary to earn yourself more than pocket change. Besides, the bitcoin network adjusts to keep global mining rates essentially flat, so as more and more people get into mining your return on investment will drop.
To all the people who are talking about mining bitcoins as if it's a good idea, I'm pretty sure none of you has the computing resources necessary to earn yourself more than pocket change. Besides, the bitcoin network adjusts to keep global mining rates essentially flat, so as more and more people get into mining your return on investment will drop.
Seems like a pretty clever scam, gutting for the people who lost money on it though.
Seems like a pretty clever scam, gutting for the people who lost money on it though.
ColemanSeems like a pretty clever scam, gutting for the people who lost money on it though.
Not really a scam, think of it as a stock. Essiently that is all it is. You can either buy the stock at a low price and sell high; or you can mine/ work on obtaining them in mining pools.
To those who think they can mine solo.... You are dead wrong sadly, I forget the estimated wait amount, but you don't want to wait years and years mining a single block of 50 bitcoins. Mine in a pool, and you gain fractions of a coin that in theory be sold as a 0.000000000001 of a single coin for the said $250 dollars given enough years and time and right market prices.
1 bit coin can be divided into near infinite amount of decimal bit coins.
[quote=Coleman]Seems like a pretty clever scam, gutting for the people who lost money on it though.[/quote]
Not really a scam, think of it as a stock. Essiently that is all it is. You can either buy the stock at a low price and sell high; or you can mine/ work on obtaining them in mining pools.
To those who think they can mine solo.... You are dead wrong sadly, I forget the estimated wait amount, but you don't want to wait years and years mining a single block of 50 bitcoins. Mine in a pool, and you gain fractions of a coin that in theory be sold as a 0.000000000001 of a single coin for the said $250 dollars given enough years and time and right market prices.
1 bit coin can be divided into near infinite amount of decimal bit coins.
why did bitcoins suddenly inflate? What do you have to do to get a bitcoin? does your computer have to be running?
why did bitcoins suddenly inflate? What do you have to do to get a bitcoin? does your computer have to be running?
Nin2246Not really a scam, think of it as a stock. Essiently that is all it is. You can either buy the stock at a low price and sell high; or you can mine/ work on obtaining them in mining pools.
Um, no. Bitcoins are nothing like stocks at all.
[quote=Nin2246]
Not really a scam, think of it as a stock. Essiently that is all it is. You can either buy the stock at a low price and sell high; or you can mine/ work on obtaining them in mining pools.
[/quote]
Um, no. Bitcoins are nothing like stocks at all.
"Now is the time to implement a Virtual Gold Standard."
- Virtual Ron Paul
"Now is the time to implement a Virtual Gold Standard."
- Virtual Ron Paul
I bought quite a few coins back when it was in the 20s. Thought at the time and still think itll be big long as nobody finds a flaw in the code and starts creating fake blocks. I don't think itll replace fiat like all of the crazies think on r/bitcoin, but i really do believe it'll be the main currency for general internet transactions in order to bypass paypal/credit card fees and such.
I got nervous when it got up to the 50s so i sold half in order to not lose any money. Then I sold half of that thinking it was definitely gonna crash after it reached the 100s. Theeeen it went all the way up to 200 within the span of a week so i lost out on quite a bit of money :/
Heres hoping it crashes back down to the double digits so i can replace all the ones i sold, but all in all, 100 percent gain ain't bad at all i suppose :)
Quite a bit of fun watching the graph and riding the roller coaster :p
I bought quite a few coins back when it was in the 20s. Thought at the time and still think itll be big long as nobody finds a flaw in the code and starts creating fake blocks. I don't think itll replace fiat like all of the crazies think on r/bitcoin, but i really do believe it'll be the main currency for general internet transactions in order to bypass paypal/credit card fees and such.
I got nervous when it got up to the 50s so i sold half in order to not lose any money. Then I sold half of that thinking it was definitely gonna crash after it reached the 100s. Theeeen it went all the way up to 200 within the span of a week so i lost out on quite a bit of money :/
Heres hoping it crashes back down to the double digits so i can replace all the ones i sold, but all in all, 100 percent gain ain't bad at all i suppose :)
Quite a bit of fun watching the graph and riding the roller coaster :p
Funnily enough there were some guys in reddit last night, just throwing huge amounts of bitcoins at people, millionaires probably. I'm pretty sure everyone who got them sold immediately, which is probably atleast partially why the price is plummeting. Along with everyone else who sold off their shit because of the OP.
Funnily enough there were some guys in reddit last night, just throwing huge amounts of bitcoins at people, millionaires probably. I'm pretty sure everyone who got them sold immediately, which is probably atleast partially why the price is plummeting. Along with everyone else who sold off their shit because of the OP.
Haahahahah made 100 bucks sold last week
Haahahahah made 100 bucks sold last week
Purely out of curiosity, where are you people buying and selling your bitcoins? When dealing with real money I'm a bit hesitant to put credit/debit card info on the web.
Purely out of curiosity, where are you people buying and selling your bitcoins? When dealing with real money I'm a bit hesitant to put credit/debit card info on the web.
BentomatPurely out of curiosity, where are you people buying and selling your bitcoins? When dealing with real money I'm a bit hesitant to put credit/debit card info on the web.
bitinstant.com- you do a cash deposit at a convenience store such as cvs and the the bitcoins/money gets deposited by your choosing to your bitcoin wallet or to your mtgox account (mtgox is the biggest trading hub for bitcoins at the moment) where you can make buy/sell orders at the current market price.
coinbase.com- much easier to use and a lower fee than bitinstant, but very unreliable and takes about a month before you can freely do buy/sell orders without restrictive limits and wait times.
There are other ways but these two were the easiest for me personally.
[quote=Bentomat]Purely out of curiosity, where are you people buying and selling your bitcoins? When dealing with real money I'm a bit hesitant to put credit/debit card info on the web.[/quote]
bitinstant.com- you do a cash deposit at a convenience store such as cvs and the the bitcoins/money gets deposited by your choosing to your bitcoin wallet or to your mtgox account (mtgox is the biggest trading hub for bitcoins at the moment) where you can make buy/sell orders at the current market price.
coinbase.com- much easier to use and a lower fee than bitinstant, but very unreliable and takes about a month before you can freely do buy/sell orders without restrictive limits and wait times.
There are other ways but these two were the easiest for me personally.
NoodleBentomatPurely out of curiosity, where are you people buying and selling your bitcoins? When dealing with real money I'm a bit hesitant to put credit/debit card info on the web.
bitinstant.com- you do a cash deposit at a convenience store such as cvs and the the bitcoins/money gets deposited by your choosing to your bitcoin wallet or to your mtgox account (mtgox is the biggest trading hub for bitcoins at the moment) where you can make buy/sell orders at the current market price.
coinbase.com- much easier to use and a lower fee than bitinstant, but very unreliable and takes about a month before you can freely do buy/sell orders without restrictive limits and wait times.
There are other ways but these two were the easiest for me personally.
Have you found it convenient to buy/sell on a pin on mtgox? Do you feel comfortable making quick, reactive conversions to and from USD?
[quote=Noodle][quote=Bentomat]Purely out of curiosity, where are you people buying and selling your bitcoins? When dealing with real money I'm a bit hesitant to put credit/debit card info on the web.[/quote]
bitinstant.com- you do a cash deposit at a convenience store such as cvs and the the bitcoins/money gets deposited by your choosing to your bitcoin wallet or to your mtgox account (mtgox is the biggest trading hub for bitcoins at the moment) where you can make buy/sell orders at the current market price.
coinbase.com- much easier to use and a lower fee than bitinstant, but very unreliable and takes about a month before you can freely do buy/sell orders without restrictive limits and wait times.
There are other ways but these two were the easiest for me personally.[/quote]
Have you found it convenient to buy/sell on a pin on mtgox? Do you feel comfortable making quick, reactive conversions to and from USD?
BentomatHave you found it convenient to buy/sell on a pin on mtgox? Do you feel comfortable making quick, reactive conversions to and from USD?
Yes, just be aware that if your account is hijacked and your bitcoins are taken you lose them forever, which is why a lot of people say to transfer the bitcoins you buy in your own offline wallet. If you want to transfer the USD you've been making you'll have to look into making a dwolla account also unless you want to pay for a wire transfer.
Security of your account and holdings should be your primary concern.
[quote=Bentomat]
Have you found it convenient to buy/sell on a pin on mtgox? Do you feel comfortable making quick, reactive conversions to and from USD?[/quote]
Yes, just be aware that if your account is hijacked and your bitcoins are taken you lose them forever, which is why a lot of people say to transfer the bitcoins you buy in your own offline wallet. If you want to transfer the USD you've been making you'll have to look into making a dwolla account also unless you want to pay for a wire transfer.
Security of your account and holdings should be your primary concern.
SalamancerDefinitely sell now.
[quote=Salamancer]Definitely sell now.[/quote]
Oh boy. People who bought back then and kept would have been millionaires by now.
Oh boy. People who bought back then and kept would have been millionaires by now.
ColemanSeems like a pretty clever scam, gutting for the people who lost money on it though.
[quote=Coleman]Seems like a pretty clever scam, gutting for the people who lost money on it though.[/quote]