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  #1  
Old 04-03-2013, 06:52 PM
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Talking Bitcoins

Have any of you clowns been following what's going on with bitcoins and the Cyprus collapse? Pretty interesting stuff, both as an investment opportunity and a social movement towards decentralized currency.

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  #2  
Old 04-04-2013, 12:23 AM
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Re: Bitcoins

Quote:
Originally Posted by Mocker View Post
Have any of you clowns been following what's going on with bitcoins and the Cyprus collapse? Pretty interesting stuff, both as an investment opportunity and a social movement towards decentralized currency.
Been following it, however I am still not convinced of its viability, certainly not in a SHTF scenario. Sure they limit the amount of units, but still not a physical commodity.

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Old 04-04-2013, 02:07 AM
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Re: Bitcoins

I ran a miner for a few days a couple years ago and deleted it.

I actually read on it again a few nights ago, and while it is definitely more viable as an investment(specifically built mining rigs take half a year to get out of the red), you do run the risk of having your assets seized unless you're from Russia or China.

Or just disappeared.

You may be better off investing in a high-yield stock with a 1/100 chance that it may disappear on a given day.

Fuck a lottery.

On a not at all related note, fewer than two years ago I read that upon graduation North Korean CompSci students move into eastern China to farm Wow gold.

They are required to send a certain percentage of their earnings home.
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Old 04-04-2013, 12:16 PM
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Re: Bitcoins

Coincidentally, I read this yesterday:

http://www.forbes.com/sites/timothyl...-buy-bitcoins/
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  #5  
Old 04-09-2013, 04:26 PM
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When I posted this thread on 4/03/13, bitcoins were trading for $133.79.

As of right now on 4/09/13, less than one week later, they're trading for $236.99.

Nobody knows where the ceiling is or when the bubble will burst, but people are making an awful lot of money off this stuff.

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Old 04-10-2013, 08:21 AM
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Quote:
Originally Posted by Alaric View Post
Don't do it
Too late! Bought a little last week at $133, little more on Sunday at $168, and a little more last night at $233. It's up to $260 this morning.

Not putting in any real money, nothing I'll miss if it goes poof, just having a some fun riding the bubble...

Aside from any potential profits, it's a pretty interesting phenomenon and a significant advance in technology - the birth of a new type of currency/commodity.

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Old 02-05-2018, 01:21 PM
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Re: Bitcoins

I got out of litecoin at 144

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Old 02-07-2018, 10:21 PM
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Re: Bitcoins

Still there.

Not really sure what's coming but believe at least the top 5 will slowly increase over the next year or two. Or not, whatevs. I hedged weeks ago (day of my previous post, actually; it was keeping me up at night and had to go) so I don't really care about the price anymore. Even so, the past week has been bloody.

Mining profit has been slashed to 1/3 of what it's "supposed" to be, thinking about just holding onto mined coins to sell later even though selling as earned is a more conservative approach akin to cost averaging. Might also be better off selling the miners on Ebay, pocketing half, and putting the rest back into BTC.

That being said, quite a bit of good news the past week or so. LN slowly rolling out, Coinbase/GDAX getting segwit, as well as both politicians and financial paragons coming 'round half-assedly saying "yeah, this concept is probably going to be important in the future".
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Old 02-08-2018, 01:12 PM
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Definitely a bloody week capping off a bloody month.... Might've bottomed out the other day, we'll see how it goes from here.

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Old 02-10-2018, 07:13 PM
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Re: Bitcoins

By the way, and sorry I didn't pass this along sooner, but the disk version of Turbotax is much cheaper and includes a state return (efile for fed, paper for state unless you want to pay extra $20).

This is relevant to cryptocurrencies because you cannot import spreadsheets or other files into online Turbotax but the disk version can.

Crypto boom cost me a few grand this year in short term capital gains At least I'll likely get a nice deduction next year.
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