Do You BitCoin?

[Punching Bag]

Meadcoin much better

 

Better than titcoin?

[Augie]

Yup meadcoin will be worth millions

But do you have to start with billions?

[Punching Bag]

But do you have to start with billions?

 

No just have ingredients for stromboli.

[ExiledInIllinois]

But do you have to start with billions?

No. But you need a giant Tesla Coil on island in Nunavut... Away from prying eyes & cold enough to cool the supercomputers mining the MeadCoin.

[Augie]

only need $3.00 to get one

Is that for the Stromboli it comes with?

[Canadian Bills Fan]

1 BTC = $1,000,000,000,000,000,000,000,000 Canadian so no

 

 

 

 

 

CBF

[4merper4mer]

1 BTC = $1,000,000,000,000,000,000,000,000 Canadian so no

 

 

 

 

 

CBF

So $0.12 American?

[Canadian Bills Fan]

So $0.12 American?

 

 

Precisely

 

 

CBF

[mead107]

Bring your money to the opener

[Foxx]

a bump for those who were discussing Bitcoin in the shoutbox.

 

Bitcoin is currently 6K+. when i started this thread, it was $1200. a gain of roughly 400% since April.

 

it will probably peak around $6888 before a retacement to establish a base before it is off to 5 figures.

Edited October 29, 2017 by Foxx

[Tcali]

cripe 5 figures....

[phypon]

Foxx,

 

Thanks for bumping this. Do you trade or are you a long term investor? I've been trying to do trading rather than simply "hodl'ing". How deep do you think retracement will be?

[BillsFan4]

Hey Foxx, did you say that you mine bitcoin?

 

 

What kind of equipment & graphics card are you using to mine bitcoin, if you don't mind me asking?

 

Do you need a ridiculous setup for it to be profitable? Is it even worth trying with a CPU and high end graphics card? Or do you need a FPGA or ASIC?

 

How hard is it to make a profit mining bitcoin these days? I heard it's tougher now. I've been thinking of trying to start mining them myself, but I'm relatively new to all of this. Would I be better off with a different crypto currency? Ethereum maybe? I'd love to get into the bitcoin because they just keep going up...

[Foxx]

cripe 5 figures....

that is late this year/early next year. the end of '18.... can you say 6 figures?

 

Foxx,

 

Thanks for bumping this. Do you trade or are you a long term investor? I've been trying to do trading rather than simply "hodl'ing". How deep do you think retracement will be?

i do both, phypon. i have a percentage that i hodl that will never leave my hands. i also have a percentage that i trade in and out of along with other coin. other coin being Ethereum and Litecoin. i am also diversified into tokens, of which again, i hodl a great percentage and a smaller percentage i trade into and out of. you have to be very careful with the crypto tokens though, 95% of them will not be around in a year. this is an emerging market so it is not really regulated as yet.

 

as always with any of my comments, this is not to be considere financial advice. it is merely my opinion and your due diligence is required.

 

Hey Foxx, did you say that you mine bitcoin?

 

 

What kind of equipment & graphics card are you using to mine bitcoin, if you don't mind me asking?

 

Do you need a ridiculous setup for it to be profitable? Is it even worth trying with a CPU and high end graphics card? Or do you need a FPGA or ASIC?

 

How hard is it to make a profit mining bitcoin these days? I heard it's tougher now. I've been thinking of trying to start mining them myself, but I'm relatively new to all of this. Would I be better off with a different crypto currency? Ethereum maybe? I'd love to get into the bitcoin because they just keep going up...

i don't mind the questions, in fact i encourage them.

 

yes, i mine. my mining operation has grown over time. somewhere back in this thread i posted some old pictures of ASIC equipment that i mine Bitcoin with, you'll have to search through it to find it.

 

with the difficulty of Bitcoin being so high now, the only profitable way to mine it is with ASIC's. i say that and it is with the current price of Bitcoin in mind. if Bitcoin goes completely nuts and does the moonshot, any form of mining will ultimately prove profitable. keep in mind that if you use GPU/CPU to mine Btc with, it will cost you in the interim.

 

with ASIC's, there are basically three different algo's to mine. SHA-256, Scrypt and X-11 SHA-256 is Bitcoin and various assorted others. Scrypt is Litecoin and various assorted others. X-11 is DASH and various assorted others.

 

Ethereum will soon be going to a POS so any money invested into mining equipment will soon be lost. well, not totally lost, but you will no longer be bale to mine Ethereumwhen Casper gets fully implemented.

Edited October 29, 2017 by Foxx

[phypon]

Thanks for the reply. Totally get the not financial advice stuff. I don't get to talk to too many people about crypto so it's nice to have someone to learn and bounce ideas off of. When you trade, if you don't mind me asking, what indicators do you feel are the most important to look for? I've been doing some research on indicators such as moving averages and stochastics. I use tradingview to view charts as I'm trying to learn more about chart reading/understand to see trends or indications of where the market "may" be leaning.

 

I also setup a couple of rigs for mining. So far, I've mined siacoin, monero and eth. The eth difficulty level dropped quite a bit with the eth fork so I'm mining that now. It doesn't yield too much per month though. Pays for my electric bill and a $100 to $200 extra per month if I don't hold the coins.

 

Thanks!

[Foxx]

Thanks for the reply. Totally get the not financial advice stuff. I don't get to talk to too many people about crypto so it's nice to have someone to learn and bounce ideas off of. When you trade, if you don't mind me asking, what indicators do you feel are the most important to look for? I've been doing some research on indicators such as moving averages and stochastics. I use tradingview to view charts as I'm trying to learn more about chart reading/understand to see trends or indications of where the market "may" be leaning.

 

I also setup a couple of rigs for mining. So far, I've mined siacoin, monero and eth. The eth difficulty level dropped quite a bit with the eth fork so I'm mining that now. It doesn't yield too much per month though. Pays for my electric bill and a $100 to $200 extra per month if I don't hold the coins.

 

Thanks!

i like and use Bittrex. though that is really a crypto exchange. they have 'tools' that let you do your own charting in whatever style you prefer.

 

indicators are always a difficult thing to decipher. i prefer not to talk about that as i do not want to be responsible for influencing anyone one way or another. what i would like to talk about though (and perhaps this is better placed in the 'Cryptos' thread but it is applicable here as well), is the pairing ratio aspect of cryptos. the tough thing to do, is to stop thinking in terms of fiat. though you can do that as well but you most certainly have to transform the way you view the value of cryptos if you are trading.

 

lets say i hold BTC and my basis for BTC is $2000. i take 1 BTC and invest it into the SALT ICO. that would give me 1334.33 SALT. the fiat basis for my entry into SALT was at the $1.50 fiat level. this would give me a crypto valuation of 0.0007494397937542 BTC per SALT. now with BTC being $6000 per BTC, those numbers change dramatically. SALT is now trading for roughly $3 per SALT. fantastic you say, that is a 100% increase from my buyin basis. well, not really. in terms of the crypto pairing you really have lost fiat. if you still had that 1 BTC you invested in SALT, it would have appreciated 300%.

 

with the cryptoverse, you are banking on the crypto pairing value out pacing the fiat value of whatever your investment vehicle was.

Edited October 29, 2017 by Foxx

[Foxx]

Bitcoin shot right through the $7k level today. it's intraday high was $7299, about 7am Edt. it has sloshed back and forth a bit and is now hovering around the $7k mark.

 

5 figures here we come!

[dayman]

They need a Visa that can spend most alts and change between alts instantly with a click on your phone. That is the short term game changer for early adopters. I could live at a fraction of the cost each month (pay w/ credit earning points if down and pay that off with bit card when up).

[Foxx]

they have that already,

Centra

TenX

 

also, UPToken is doing the ATM thing. i don't know if they will succed though, they want too much of a percentage for a transaction.

 

there is also a lending alternative. SALT, which has mainstream players involved such as Goldman Sachs had their ICO not long ago and should have their beta out soon.'

 

these are first movers in the space so they have an advantage at succeeding.

Edited November 6, 2017 by Foxx

[row_33]

A few friends with skin in the game are always crowing about it, a few who refuse and are in the game say it's going to collapse instantly some day soon.

 

I'll sit on the sidelines and watch, my trust is more with the latter grouping.

 

 

[Foxx]

lol, it's not going away anytime soon.

 

they said the sam thing about the internet at one time....

Edited November 6, 2017 by Foxx

[TheElectricCompany]

6 hours ago, Foxx said:

lol, it's not going away anytime soon.

 

they said the sam thing about the internet at one time....

I don't think cryptocurrency is understood by the masses, and that fuels the "it will collapse soon" narrative, regardless if it's true of false. 

[row_33]

Because the internet survived it means everything else will?  

[Foxx]

25 minutes ago, mead107 said:

Still have a few Meadcoins left

when I started this thread, BTC was $1200. today it is at $8219. an increase of almost 600%. where else would you have gotten that kind of return?

 

next stop... 5 figures by '18. mark it down.

Edited November 25, 2017 by Foxx

[plenzmd1]

On 11/6/2017 at 5:19 PM, TheElectricCompany said:

I don't think cryptocurrency is understood by the masses, and that fuels the "it will collapse soon" narrative, regardless if it's true of false. 

I pride myself on keeping up with trends, especially tech trends, but I readily admit i don't understand bitcoin

51 minutes ago, Foxx said:

when I started this thread, BTC was $1200. today it is at $8219. an increase of almost 600%. where else would you have gotten that kind of return?

 

next stop... 5 figures by '18. mark it down.

this is why I am going to start doing whatever I can to understand!

 

Just as a word of caution, valuation does not equal worth.as mention, i have no clue on this stuff, but tulip bulbs  once fetched $1200 a piece, not that the intrinsic value was ever there 

[Augie]

7 minutes ago, plenzmd1 said:

I pride myself on keeping up with trends, especially tech trends, but I readily admit i don't understand bitcoin

this is why I am going to start doing whatever I can to understand!

 

Just as a word of caution, valuation does not equal worth.as mention, i have no clue on this stuff, but tulip bulbs  once fetched $1200 a piece, not that the intrinsic value was ever there 

 

But tulips are quite lovely and I plan to plant some bulbs when it’s time. My wife loves them. I’d split your investment between the two. There may be a comeback? 

 

That bulb bubble was maybe the silliest ever? But at least you got something real.....  I won’t put down anything I️ don’t understand. 

DARN! Why is the “I” thing messed up AGAIN? 

Edited November 25, 2017 by Augie

[Foxx]

18 minutes ago, plenzmd1 said:

...  I am going to start doing whatever I can to understand! ...

one of the very first things you need to do is to forget a fiat valuation. it is imperative that you start to think think in a crypto valuation. fiat valuations are only good for getting into and out of crypto and other than that, they are meaningless inside the cryptosphere. understand what i am saying here... fiat valuation is currently important because most of the world revolves around the USD and it's worth as a global reserve. however, what I am telling you is that as the world transistions it will be very important to understand valuation in crypto terms.

 

worth... you can't afford to not get involved. this is the last stages of the innovators phase. the next phase is to be the early adopters. after that... all hell breaks loose. 

 

 

11 minutes ago, Augie said:

 

But tulips are quite lovely and I plan to plant some bulbs when it’s time. My wife loves them. I’d split your investment between the two. There may be a comeback? 

 

That bulb bubble was maybe the silliest ever? But at least you got something real.....  I won’t put down anything I️ don’t understand. 

DARN! Why is the “I” thing messed up AGAIN? 

something real? Shirley you aren't referring to all those 1s and 0s that your bank has in it's privately held ledger are you? you know, the privately held ledger that they add to by creating those 1s and 0s out of thin air. not that real thing, right?

Edited November 25, 2017 by Foxx

[Augie]

Warren Buffet understands Dairy Queen. I get that concept too. 

[plenzmd1]

6 minutes ago, Foxx said:

one of the very first things you need to do is to forget a fiat valuation. it is imperative that you start to think think in a crypto valuation. fiat valuations are only good for getting into and out of crypto and other than that, they are meaningless inside the cryptosphere. understand what i am saying here... fiat valuation is currently important because most of the world revolves around the USD and it's worth as a global reserve. However What I am telling you is that as the world transistions it will be very important to understand valuation in crypto terms.

 

 

4

I am going to PM you tomorrow, sleepy tonight, and will gladly pay you in fiat valuations for a lesson in crypto valuation, and yes I am serious.

[Augie]

3 minutes ago, plenzmd1 said:

I am going to PM you tomorrow, sleepy tonight, and will gladly pay you in fiat valuations for a lesson in crypto valuation, and yes I am serious.

 

If you can dumb it down and translate for me, I’m open to learning. 

[Foxx]

FOMO and FUD are two very real things that will rock your world. the first you have to understand what it is and why your experiencing it. the latter, you have to understand what it is and why your experiencing it.

 

as with any speculation, you should only put in what you are completely comfortable losing. do not put your house mortage payment in because of FOMO, you will lose.

 

 

4 minutes ago, Augie said:

 

If you can dumb it down and translate for me, I’m open to learning. 

as i have since i started this thread, i will try and answer, to the best of my abilites and knowledge, any and all questions.

 

there are no dumb questions, only stupid answers.

Edited November 25, 2017 by Foxx

[BuffaloBill]

On 11/2/2017 at 6:29 PM, Foxx said:

Bitcoin shot right through the $7k level today. it's intraday high was $7299, about 7am Edt. it has sloshed back and forth a bit and is now hovering around the $7k mark.

 

5 figures here we come!

 

 

To me it is a speculative market.  In a way all currency, options, commodities, stocks or bonds are speculative.  However in the latter the markets and rules, formal or informal, are for more developed.  Personally, I’d much rather invest in more established markets.

[Foxx]

8 hours ago, mead107 said:

Who started bitcoin and what backs it up or is it really meaningless and just floating around on internet? 

Satoshi Nakamoto created Bitcoin. who he is, is not really known. he has never been seen and disappeared shortly after Bitcoins creation. it has been speculated, by some that Nakamoto was really Alan Greenspan. i don't know if we will ever really know he is is/was. the wallet with the genesis block contents, assumed to be Nakamotos, remains untouched to this day.

 

what backs bitcoin is ultimately the same exact thing that backs the USD. faith (in the USD case though, to be sure ,the threat of voilence is equally backing it). it could be argued and quite convincingly i might add that, the USD is really meaningless and just floating around on the internet.

 

 

[billsfanmiami(oh)]

21 hours ago, Augie said:

 

If you can dumb it down and translate for me, I’m open to learning. 

 

 

Ditto. I remember thinking a few years ago that this whole thing sounded completely insane. Now you see stuff about major financial outlets offering bitcoin futures. I still don’t fully understand it, but I’m definiely intrigued by it and am open minded. Would definiely like to be edumacated on it some more. 

[Augie]

 

 

I’m open to learning. I’m generally curious.  But I seriously doubt I’m open to Bitcoin. We are pretty conservative, both coming with financial/wealth management backgrounds. 

[Foxx]

10 hours ago, Augie said:

 

 

I’m open to learning. I’m generally curious.  But I seriously doubt I’m open to Bitcoin. We are pretty conservative, both coming with financial/wealth management backgrounds. 

if you really are open to learning, you will find the following enlightening. keep an open mind and listen to the entire thing.

 

 

Bitcoin just hit it's ATH overnight, $9100. 

Edited November 26, 2017 by Foxx

[BeginnersMind]

Places you might not want to get your investing advice? 

 

Twobillsdrive.

 

 

 

 

[Foxx]

2 hours ago, BeginnersMind said:

Places you might not want to get your investing advice? 

 

Twobillsdrive.

 

 

 

 

right. who in their right mind would want a return of over 600% since April. crazy talk!

[ExiledInIllinois]

25 minutes ago, Foxx said:

right. who in their right mind would want a return of over 600% since April. crazy talk!

Not everybody.  Its like a pyramid. More get in, few on top win.

 

No thanks.  I will labor & toil  the old fashioned way... With axe and shovel.

[PolishDave]

My question is who thinks that the USA and all other major countries are not going to outlaw all of the popular and unregulated cryptocurrencies?

 

Won't they be forced to?

 

And what is that going to do to the value of those cryptos?

 

And within what time frame are these countries going to actually outlaw them?

2 minutes ago, ExiledInIllinois said:

Not everybody.  Its like a pyramid. More get in, few on top win.

 

No thanks.  I will labor & toil  the old fashioned way... With axe and shovel.

 

It's not like that though.   That is a bad analogy.     It is simply a form of currency that is in the midst of a parabolic rise in value.   It can go up or down in value just like the  US dollar.   Right now Bitcoin is in a parabolic rise which is why it has so much publicity lately.