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God will always provide
Picture of Fla. Jim
posted
What do Ye in the know think about Bit coins as a investment? I know the inherent risk and would not buy more than I could afford to lose. What Cristal Ball visions do the enlightened see in the Bitcoin future?
 
Posts: 4403 | Location: White City, Florida | Registered: January 11, 2009Reply With QuoteReport This Post
Slayer of Agapanthus


posted Hide Post
Bitcoin has not been popular on SF. I do not know a lot but IIRC the price of BC spiked when chinese millionares were trying to use it to get their money out of the PRC.

Probably best compared to tulip bulbs as an investment.


"It is only with the heart that one can see rightly; what is essential is invisible to the eye". The Little Prince, Antoine de Saint-Exupery, pilot and author, lost on mission, July 1944, Med Theatre.
 
Posts: 5952 | Location: Central Texas | Registered: September 14, 2003Reply With QuoteReport This Post
Peace through
superior firepower
Picture of parabellum
posted Hide Post
Just toss your money out the window. It would be quicker.


____________________________________________________

"I am your retribution." - Donald Trump, speech at CPAC, March 4, 2023
 
Posts: 107254 | Registered: January 20, 2000Reply With QuoteReport This Post
stupid beyond
all belief
Picture of Deqlyn
posted Hide Post
wouldnt do it



What man is a man that does not make the world better. -Balian of Ibelin

Only boring people get bored. - Ruth Burke
 
Posts: 8227 | Registered: September 13, 2012Reply With QuoteReport This Post
thin skin can't win
Picture of Georgeair
posted Hide Post
quote:
Originally posted by Fla. Jim:
What do Ye in the know think about Bit coins as a investment? I know the inherent risk and would not buy more than I could afford to lose. What Cristal Ball visions do the enlightened see in the Bitcoin future?

Well, I wouldn't count on cashing out and guzzling Cristal, first of all.



You only have integrity once. - imprezaguy02

 
Posts: 12348 | Location: Madison, MS | Registered: December 10, 2007Reply With QuoteReport This Post
Knows too little
about too much
Picture of rduckwor
posted Hide Post
I'm curious. With all the encryption crap, the bad guys insist in payment via bit coin. How does one acquire them?

RMD




TL Davis: “The Second Amendment is special, not because it protects guns, but because its violation signals a government with the intention to oppress its people…”
Remember: After the first one, the rest are free.
 
Posts: 20302 | Location: L.A. - Lower Alabama | Registered: April 06, 2008Reply With QuoteReport This Post
Member
posted Hide Post
Build a powerful computer and mine them yourself.

Well maybe not:

https://www.weusecoins.com/en/mining-guide/

I wonder where your bitcoin goes during an EMP?


____________________________________________________

The butcher with the sharpest knife has the warmest heart.
 
Posts: 13386 | Location: Bottom of Lake Washington | Registered: March 06, 2007Reply With QuoteReport This Post
Oh stewardess,
I speak jive.
Picture of 46and2
posted Hide Post
^ that isn't really feasible anymore, not for the individual...

I wouldn't buy them now, as it's at a high point - definitely shitty timing:

 
Posts: 25613 | Registered: March 12, 2004Reply With QuoteReport This Post
Member
Picture of cooger
posted Hide Post
I'm in class with a girl who invested in bit coins two years go, or maybe last year. I can't remember. Anyways, she has made a lot of money recently. Apparently companies are sticking up on bit coins in case of a cyber attack. Also, an Asian country (maybe Japan) just legalized it so that has driven the price up some too. I kinda think the bubble is about to burst on the price though.
 
Posts: 1512 | Location: Kentucky | Registered: December 05, 2011Reply With QuoteReport This Post
non ducor, duco
Picture of Nickelsig229
posted Hide Post
I never got into it but a good friend of mine, who is an IT professional did years ago.

He says now, the only way to make money is to have multiple miners come together each with multiple machines to offset the cost of electricity and pool their rewards. He by himself is still making some 2k a month but that is far less then what he made before. He also had a huge windfall a couple years ago when bitcoin more then doubled in value.

He's made well over 200k the past 8 years with bitcoins all while doing nothing since his miners are set up at his employers cost without them knowing.

He also says that purchasing them as an investment is foolish. You should only mine them, sell them, or purchase goods or dollars with them online. He prefers to purchase only dollars, but there is only so many dollars he can purchase with them before IRS takes notice.




First In Last Out
 
Posts: 4787 | Location: CT | Registered: October 15, 2002Reply With QuoteReport This Post
Ignored facts
still exist
posted Hide Post
it was ruled that you get taxed on any gains from bitcoins. kind-a takes much of the profit out of it.


----------------------
Let's Go Brandon!
 
Posts: 10860 | Location: 45 miles from the Pacific Ocean | Registered: February 28, 2003Reply With QuoteReport This Post
Unhyphenated American
Picture of Floyd D. Barber
posted Hide Post
quote:
Originally posted by parabellum:
Just toss your money out the window. It would be quicker.




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Always remember that others may hate you but those who hate you don't win unless you hate them. And then you destroy yourself.
Richard M Nixon

It's nice to be important, it's more important to be nice.
Billy Joe Shaver

NRA Life Member

 
Posts: 7353 | Location: Between the Moon and New York City. | Registered: November 27, 2011Reply With QuoteReport This Post
Don't Panic
Picture of joel9507
posted Hide Post
As an 'investment' it would be certifiable.

If you think of as 'speculation in currency futures' then you'd be thinking about it properly, and likely to put in the proper amount for your overall portfolio and situation. Wink
 
Posts: 15001 | Location: North Carolina | Registered: October 15, 2007Reply With QuoteReport This Post
Member
posted Hide Post
Go with hookers and blow instead. Same financial results, more fun.

So I'm told.


--
I always prefer reality when I can figure out what it is.

JALLEN 10/18/18
https://sigforum.com/eve/forum...610094844#7610094844
 
Posts: 2362 | Location: Roswell, GA | Registered: March 10, 2009Reply With QuoteReport This Post
A Grateful American
Picture of sigmonkey
posted Hide Post
quote:
Originally posted by Nickelsig229:...a good friend of mine, who is an IT professional...
He's made well over 200k the past 8 years with bitcoins all while doing nothing since his miners are set up at his employers cost without them knowing....


Back in the good old days, (not so long ago), we called what your good friend is doing-- "stealing".




"the meaning of life, is to give life meaning" Ani Yehudi אני יהודי Le'olam lo shuv לעולם לא שוב!
 
Posts: 43810 | Location: ...... I am thrice divorced, and I live in a van DOWN BY THE RIVER!!! (in Arkansas) | Registered: December 20, 2008Reply With QuoteReport This Post
Oh stewardess,
I speak jive.
Picture of 46and2
posted Hide Post
^ Stealing and/or a large degree of embellishment.

It takes far more computing power than what one can skim off work machines doing other things to make $2000/mo mining BitCoins. Maybe 10yrs ago it was possible, but now... B.S., unless he works for Akamai or the NSA or something.
 
Posts: 25613 | Registered: March 12, 2004Reply With QuoteReport This Post
Ignored facts
still exist
posted Hide Post
I wonder how many bitcoins will disappear as a result of geezers dying and not passing them on.


----------------------
Let's Go Brandon!
 
Posts: 10860 | Location: 45 miles from the Pacific Ocean | Registered: February 28, 2003Reply With QuoteReport This Post
God will always provide
Picture of Fla. Jim
posted Hide Post
Interesting response guys. Hookers and blow was my favorite. But at my age it would have diminishing returns I'm sure. Thanks again for your insight.

 
Posts: 4403 | Location: White City, Florida | Registered: January 11, 2009Reply With QuoteReport This Post
non ducor, duco
Picture of Nickelsig229
posted Hide Post
quote:
Originally posted by sigmonkey:
quote:
Originally posted by Nickelsig229:...a good friend of mine, who is an IT professional...
He's made well over 200k the past 8 years with bitcoins all while doing nothing since his miners are set up at his employers cost without them knowing....


Back in the good old days, (not so long ago), we called what your good friend is doing-- "stealing".


Absolutely, he has 8 boxes last I knew, each drawing 850 watts 24/7. If he had to pay that on his electric bill it would probably seriously hamper his income from the bit coins.




First In Last Out
 
Posts: 4787 | Location: CT | Registered: October 15, 2002Reply With QuoteReport This Post
non ducor, duco
Picture of Nickelsig229
posted Hide Post
quote:
Originally posted by 46and2:
^ Stealing and/or a large degree of embellishment.

It takes far more computing power than what one can skim off work machines doing other things to make $2000/mo mining BitCoins. Maybe 10yrs ago it was possible, but now... B.S., unless he works for Akamai or the NSA or something.


You must not know how it works.

He has multiple miners that do nothing but mine. He owns them, the only thing is the power the consume which is what he is stealing from them without them knowing at all. .10 of a bit coin is 190-205 dollars. His machines do nothing but mine, he averages just over one bit coin a month.

There is no embellishment.




First In Last Out
 
Posts: 4787 | Location: CT | Registered: October 15, 2002Reply With QuoteReport This Post
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