SacramentoBob
Footballguy
@ this spirited defense of something you didn't have the balls to invest in yourself.
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Bitcoins - anyone else mining? (2 Viewers)
- Thread starter Charlie Frown
- Start date
@ this spirited defense of something you didn't have the balls to invest in yourself.
Jojo the circus boy
Footballguy
You are calling me out for not investing in something that I have been "spiritedly defending" that has went up 10 fold, do you not see the irony in your post?
I'm starting up a company, laugh all you want - you were still wrong about bitcoins and don't "have the balls" to own up to it.
I actually considered getting in at $100 and funded a dwolla account this past May but they cut off ties with MTGox.
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SacramentoBob
Footballguy
Link to me being wrong about bitcoins?
You are calling me out for not investing in something that I have been "spiritedly defending" that has went up 10 fold, do you not see the irony in your post?
I'm starting up a company, laugh all you want - you were still wrong about bitcoins and don't "have the balls" to own up to it.
I actually considered getting in at $100 and funded a dwolla account this past May but they cut off ties with MTGox.
Jojo the circus boy
Footballguy
Link to me where you were right. You are trolling me for supporting them.SacramentoBob said:Link to me being wrong about bitcoins?Jojo the circus boy said:SacramentoBob said:
You are calling me out for not investing in something that I have been "spiritedly defending" that has went up 10 fold, do you not see the irony in your post?
I'm starting up a company, laugh all you want - you were still wrong about bitcoins and don't "have the balls" to own up to it.
I actually considered getting in at $100 and funded a dwolla account this past May but they cut off ties with MTGox.
SacramentoBob
Footballguy
You just asserted that I was "wrong about bitcoins". I'd like you to prove that with a link where I said something that has been proven wrong. It shouldn't take long; all 4 of my posts in this thread were made today.Link to me where you were right. You are trolling me for supporting them.SacramentoBob said:Link to me being wrong about bitcoins?Jojo the circus boy said:SacramentoBob said:
You are calling me out for not investing in something that I have been "spiritedly defending" that has went up 10 fold, do you not see the irony in your post?
I'm starting up a company, laugh all you want - you were still wrong about bitcoins and don't "have the balls" to own up to it.
I actually considered getting in at $100 and funded a dwolla account this past May but they cut off ties with MTGox.
Jojo the circus boy
Footballguy
I started the application process to buy, they need to verify identity which takes 5 business days, I'll buy whatever $125 gets me, the same amount I originally put in my dwolla account once I'm cleared.
Jojo the circus boy
Footballguy
You called me out for my spirited defense even though what I am defending went up 10x, you are trolling go away.You just asserted that I was "wrong about bitcoins". I'd like you to prove that with a link where I said something that has been proven wrong. It shouldn't take long; all 4 of my posts in this thread were made today.Link to me where you were right. You are trolling me for supporting them.SacramentoBob said:Link to me being wrong about bitcoins?Jojo the circus boy said:SacramentoBob said:
You are calling me out for not investing in something that I have been "spiritedly defending" that has went up 10 fold, do you not see the irony in your post?
I'm starting up a company, laugh all you want - you were still wrong about bitcoins and don't "have the balls" to own up to it.
I actually considered getting in at $100 and funded a dwolla account this past May but they cut off ties with MTGox.
http://www.butterflylabs.com/monarch/
According to the calculator that was just linked here these are profitable in two weeks and will make you 10K a month moving forward.
Obviously unrealistic so what am I missing?
I'm guessing by the time these ship in February the bubble will have burst or it will be much more diffcult.
According to the calculator that was just linked here these are profitable in two weeks and will make you 10K a month moving forward.
Obviously unrealistic so what am I missing?
I'm guessing by the time these ship in February the bubble will have burst or it will be much more diffcult.
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SacramentoBob
Footballguy
I think the people who are going to make the most money from this going forward are the people selling equipment and services to the people looking to get rich from bitcoins.
SacramentoBob
Footballguy
I take it you don't have any proof then. Apology accepted.You called me out for my spirited defense even though what I am defending went up 10x, you are trolling go away.You just asserted that I was "wrong about bitcoins". I'd like you to prove that with a link where I said something that has been proven wrong. It shouldn't take long; all 4 of my posts in this thread were made today.Link to me where you were right. You are trolling me for supporting them.SacramentoBob said:Link to me being wrong about bitcoins?Jojo the circus boy said:SacramentoBob said:
You are calling me out for not investing in something that I have been "spiritedly defending" that has went up 10 fold, do you not see the irony in your post?
I'm starting up a company, laugh all you want - you were still wrong about bitcoins and don't "have the balls" to own up to it.
I actually considered getting in at $100 and funded a dwolla account this past May but they cut off ties with MTGox.
Jojo the circus boy
Footballguy
Trolls are gonna troll.I take it you don't have any proof then. Apology accepted.You called me out for my spirited defense even though what I am defending went up 10x, you are trolling go away.You just asserted that I was "wrong about bitcoins". I'd like you to prove that with a link where I said something that has been proven wrong. It shouldn't take long; all 4 of my posts in this thread were made today.Link to me where you were right. You are trolling me for supporting them.SacramentoBob said:Link to me being wrong about bitcoins?Jojo the circus boy said:SacramentoBob said:
You are calling me out for not investing in something that I have been "spiritedly defending" that has went up 10 fold, do you not see the irony in your post?
I'm starting up a company, laugh all you want - you were still wrong about bitcoins and don't "have the balls" to own up to it.
I actually considered getting in at $100 and funded a dwolla account this past May but they cut off ties with MTGox.
You attempted to call me out for supporting something that has gone up 10x in value, you are clueless.
Maelstrom
Footballguy
As much as I want to like BitCoins, I think the reality is that there are a LOT of risk associated with them. More so at $1200/bc than at $120/bc also, because now the hackers and botnet runners are actively seeking them as well.
Off the top of my head, some of the risks are:
I'm not down on the idea, I just am not sure this is the final iteration that succeeds. If so, great, I'm all for it. But still a bit risky to me.
Off the top of my head, some of the risks are:
- Government could rule them illegal or otherwise interfere with the ability to "cash out"
- Easy to adopt means easy to change to something else that comes along
- Ease of loss (see story of the $7.5MM hard drive in the trash)
- Tempting target for computer hackers
- Very unstable at the moment, could easily see the value crash back down
- Limited ability to purchase or use still, only certain vendors/suppliers (granted, this is getting to be less of a risk)
- Unproven long-term
I'm not down on the idea, I just am not sure this is the final iteration that succeeds. If so, great, I'm all for it. But still a bit risky to me.
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Das Boot
Footballguy
He's starting a company based on it... I'd say that's some cojones.Some priceless stuff here.SacramentoBob said:
Such a believer, but not even $100's worth of cahones.
Jojo the circus boy
Footballguy
Guy bets $10k equivalent that bitcoins would outperform Gold, Silver and U.S. stock market by 100x in 2 years. Loses bet that nobody took and donates 1000 btc ($1 MM) to charity.
He missed it by 2 months.
http://www.reddit.com/r/Bitcoin/comments/1rs9db/bitcoin_jesus_1000000_bet_final_update/
He missed it by 2 months.
http://www.reddit.com/r/Bitcoin/comments/1rs9db/bitcoin_jesus_1000000_bet_final_update/
Jojo the circus boy
Footballguy
Stefan Molyneux explains why Bitcoin may be the biggest revolution in economic history.
for the lazy, watch/listen to the last 2 minutes for a good summary
Document detailing merits of colored bitcoins. Which is 1-2 months away from a functioning beta.
for the lazy, watch/listen to the last 2 minutes for a good summary
Document detailing merits of colored bitcoins. Which is 1-2 months away from a functioning beta.
Rohn Jambo
Footballguy
At least Beanie Babies are kinda cute and cuddly.sporthenry
Footballguy
He's starting a company based on it... I'd say that's some cojones.Some priceless stuff here.SacramentoBob said:
Such a believer, but not even $100's worth of cahones.
I thought he was starting an electronic trading company?Whitetail Hunter
Footballguy
Jewell
Footballguy
Missing: hard drive containing Bitcoins worth £4m in Newport landfill site
A digital 'wallet' containing 7,500 Bitcoins that James Howells generated on his laptop is buried under four feet of rubbish
Wednesday 27 November 2013 11.00 EST
http://www.theguardian.com/technology/2013/nov/27/hard-drive-bitcoin-landfill-site
Buried somewhere under four feet of mud and rubbish, in the Docksway landfill site near Newport, Wales, in a space about the size of a football pitch is a computer hard drive worth more than £4m.
It belonged to James Howells, who threw it out when he was clearing up his desk in mid-summer and discovered the part, rescued from a defunct Dell laptop. He found it in a drawer and put it in a bin.
And then last Friday he realised that it held a digital wallet with 7,500 Bitcoins created for almost nothing in 2009 - and then worth about the same.
"You know when you put something in the bin, and in your head, say to yourself 'that's a bad idea'? I really did have that," Howells, who works in IT, told the Guardian. "I don't have an exact date, the only time period I can give and I've been racking my own brains is between 20 June and 10 August. Probably mid-July". At the time he obliviously threw them away, the 7,500 Bitcoins on the hard-drive were worth around £500,000. Since then, the cryptocurrency's value has soared, passing $1,000 on Wednesday afternoon.
Although Bitcoins have recently become part of the zeitgeist with Virgin saying it will accept the currency for its Virgin Galactic flights, and central bankers considering its position in finance seriously Howells generated his in early 2009, when the currency was only known in tech circles. At that time, a few months after its launch, it was comparatively easy to "mine" the digital currency, effectively creating money by computing: Howells ran a program on his laptop for a week to generate his stash. Nowadays, doing the same would require enormously expensive computing power.
That lost hard drive, though, contains the cryptographic "private key" that is needed to be able to access and spend the Bitcoins; without it, the "money" is lost forever.
And Howells didn't have a backup.
Howells stopped mining after a week because his girlfriend complained that the laptop was getting too noisy and hot while it ran the programs to solve the complex mathematical problems needed to create new Bitcoins.
In 2010, the Dell XPS N1710 broke after he accidentally tipped lemonade on it, so he dismantled it for parts. Most were thrown away or sold, but he kept the hard drive in a desk drawer for the next three years until that fateful summer day when he had the clearout.
Howells didn't realise his mistake until Friday. Since then, he said, "I've searched high and low. I've tried to retrieve files from all of my USB sticks, from all of my hard drives. I've tried everything just in case I had a backup file, or had copied it by accident. And nothing."
He even went down to the landfill site itself. "I had a word with one of the guys down there, explained the situation. And he actually took me out in his truck to where the landfill site is, the current ditch they're working on. It's about the size of a football field, and he said something from three or four months ago would be about three or four feet down."
After he stopped mining Bitcoins in 2009, Howells hadn't given the currency much thought. "I hadn't kept up on Bitcoin, I'd been distracted. I'd had a couple of kids since then, I'd been doing the house up, and forgot about it until it was in the news again."
Howells considered retrieving the hard drive himself, but was told that "even for the police to find something, they need a team of 15 guys, two diggers, and all the personal protection equipment. So for me to fund that, it's not possible without the guarantee of money at the end." As such, he's resigned to never getting the virtual money back.
"There's a pot of gold there for someone I'm even thinking of registering www.returnmybitcoin.com. It's available," he said. He has also set up a Bitcoin wallet for donations aimed at recovering the hard drive.
"If they were to offer me a share, fair enough," he said. "If they were to go out and find it for themselves it's my mistake throwing the hard drive out, at the end of the day."
A spokeswoman from Newport council emphasised that any treasure hunters turning up to the landfill site wouldn't be allowed in, but "obviously, if it was easily retrieved, we'd return it."
"I'm at the point where it's either laugh about it or cry about it," Howells says. "Why aren't I out there with a shovel now? I think I'm just resigned to never being able to find it."
Nonetheless, he continues to believe, as he did four years ago, that Bitcoin is the future of money. "I still think it's going to go higher. I just think it's the next step of the internet, which is why I mined it in the first place. When I first came across it, I knew straight away. We had everything else at the time; Google, Facebook, they were already the market leaders in their areas. The only thing that was missing was an internet money."
A digital 'wallet' containing 7,500 Bitcoins that James Howells generated on his laptop is buried under four feet of rubbish
Wednesday 27 November 2013 11.00 EST
http://www.theguardian.com/technology/2013/nov/27/hard-drive-bitcoin-landfill-site
Buried somewhere under four feet of mud and rubbish, in the Docksway landfill site near Newport, Wales, in a space about the size of a football pitch is a computer hard drive worth more than £4m.
It belonged to James Howells, who threw it out when he was clearing up his desk in mid-summer and discovered the part, rescued from a defunct Dell laptop. He found it in a drawer and put it in a bin.
And then last Friday he realised that it held a digital wallet with 7,500 Bitcoins created for almost nothing in 2009 - and then worth about the same.
"You know when you put something in the bin, and in your head, say to yourself 'that's a bad idea'? I really did have that," Howells, who works in IT, told the Guardian. "I don't have an exact date, the only time period I can give and I've been racking my own brains is between 20 June and 10 August. Probably mid-July". At the time he obliviously threw them away, the 7,500 Bitcoins on the hard-drive were worth around £500,000. Since then, the cryptocurrency's value has soared, passing $1,000 on Wednesday afternoon.
Although Bitcoins have recently become part of the zeitgeist with Virgin saying it will accept the currency for its Virgin Galactic flights, and central bankers considering its position in finance seriously Howells generated his in early 2009, when the currency was only known in tech circles. At that time, a few months after its launch, it was comparatively easy to "mine" the digital currency, effectively creating money by computing: Howells ran a program on his laptop for a week to generate his stash. Nowadays, doing the same would require enormously expensive computing power.
That lost hard drive, though, contains the cryptographic "private key" that is needed to be able to access and spend the Bitcoins; without it, the "money" is lost forever.
And Howells didn't have a backup.
Howells stopped mining after a week because his girlfriend complained that the laptop was getting too noisy and hot while it ran the programs to solve the complex mathematical problems needed to create new Bitcoins.
In 2010, the Dell XPS N1710 broke after he accidentally tipped lemonade on it, so he dismantled it for parts. Most were thrown away or sold, but he kept the hard drive in a desk drawer for the next three years until that fateful summer day when he had the clearout.
Howells didn't realise his mistake until Friday. Since then, he said, "I've searched high and low. I've tried to retrieve files from all of my USB sticks, from all of my hard drives. I've tried everything just in case I had a backup file, or had copied it by accident. And nothing."
He even went down to the landfill site itself. "I had a word with one of the guys down there, explained the situation. And he actually took me out in his truck to where the landfill site is, the current ditch they're working on. It's about the size of a football field, and he said something from three or four months ago would be about three or four feet down."
After he stopped mining Bitcoins in 2009, Howells hadn't given the currency much thought. "I hadn't kept up on Bitcoin, I'd been distracted. I'd had a couple of kids since then, I'd been doing the house up, and forgot about it until it was in the news again."
Howells considered retrieving the hard drive himself, but was told that "even for the police to find something, they need a team of 15 guys, two diggers, and all the personal protection equipment. So for me to fund that, it's not possible without the guarantee of money at the end." As such, he's resigned to never getting the virtual money back.
"There's a pot of gold there for someone I'm even thinking of registering www.returnmybitcoin.com. It's available," he said. He has also set up a Bitcoin wallet for donations aimed at recovering the hard drive.
"If they were to offer me a share, fair enough," he said. "If they were to go out and find it for themselves it's my mistake throwing the hard drive out, at the end of the day."
A spokeswoman from Newport council emphasised that any treasure hunters turning up to the landfill site wouldn't be allowed in, but "obviously, if it was easily retrieved, we'd return it."
"I'm at the point where it's either laugh about it or cry about it," Howells says. "Why aren't I out there with a shovel now? I think I'm just resigned to never being able to find it."
Nonetheless, he continues to believe, as he did four years ago, that Bitcoin is the future of money. "I still think it's going to go higher. I just think it's the next step of the internet, which is why I mined it in the first place. When I first came across it, I knew straight away. We had everything else at the time; Google, Facebook, they were already the market leaders in their areas. The only thing that was missing was an internet money."
Rohn Jambo
Footballguy
Wha? There is no universal account keeping and you did a key to use the bitcoins? They suck.
Whitetail Hunter
Footballguy
Rohn Jambo
Footballguy
Rohn Jambo
Footballguy
I read your post. Personally, I look at it the other way around. Why would I want to use Bitcoin instead?
Jojo the circus boy
Footballguy
Sorry, I'll respond when I'm back from vacation. You need to start thinking of it as Internet 2.0 for lack of a better term. It's a network, an infrastructure which other technologies can piggy back. It lowers the bar for a lot of things. Pretty soon if you want to raise money you can do it via bitcoin instead of needing $3.7 million to give to Goldman Sachs for an IPO. Watch the last video I posted.
Tom Servo
Nittany Beavers
Whitetail Hunter
Footballguy
Whitetail Hunter
Footballguy
Fennis
Footballguy
SacramentoBob
Footballguy
Maelstrom
Footballguy
I have. Doesn't really cover the concerns I have. Particularly the one about the gov't regulating BC or just legislating them out of the US at some point.
I guess that it also it - I have not found a particularly use for BC personally. What are ideal uses for BCs that are better than using traditional means of payment? (Please leave out "privacy" concerns, that is a whole different topic that is bigger than BC.
sporthenry
Footballguy
From someone who considers themselves a skeptic, I'd say the potential uses for the common man is the potential to be cheaper than PayPal or credit cards and the fact that they are seemingly more secure since each bitcoin has its history attached. You also have more freedom in the sense that your PayPal account can be frozen. Also makes it easier to engage in international transactions.
shader
Footballguy
From what I understand, it gets harder and harder to mine bitcoins. They are now at the point where it takes an unbelievable beast of a machine.
The "10k a month going forward" isn't reality, because in 6 months the machine that can mine a bitcoin now will be pretty much useless...from what I gather. Which is why the only way I'd buy a mining machine is if I could get it immediately. If youa re on a waiting list, don't buy anything.
Jojo the circus boy
Footballguy
Jojo the circus boy
Footballguy
The Internet and Facebook were pretty useless the first few years as well. The larger and stronger the network, the more value it provides.
Jojo the circus boy
Footballguy
The U.S. Government is not afraid of bitcoins. People underestimate the capabilities of the NSA and overestimate the ease of remaining completely anonymous w/ bitcoins.
Jojo the circus boy
Footballguy
What happens when you lose your dollar bills or gold?
Whitetail Hunter
Footballguy
Whitetail Hunter
Footballguy
Government regulation would be a huge positive for BC. The US government's biggest concern is that they're used to launder money.
Someone described the recent government enquiry as a lovefest, and the BC price surged after.
Whitetail Hunter
Footballguy
Maybe, maybe not. I have a few that cost me $120 and I was able to arb some that will cost me nothing. I am also accumulating more at zero cost.enjoy your tulips.
If you're right, it's cost me almost nothing. If you're wrong, who knows what they'll be worth. Like I said, you're as sharp as a beach ball.
sporthenry
Footballguy
You getting out now? Still not sure what to make of these long term but really missed the boat short term at least. Nice 1000% return would have been nice.Maybe, maybe not. I have a few that cost me $120 and I was able to arb some that will cost me nothing. I am also accumulating more at zero cost.
If you're right, it's cost me almost nothing. If you're wrong, who knows what they'll be worth. Like I said, you're as sharp as a beach ball.
Whitetail Hunter
Footballguy
Not getting out--just controlling my risk in a smart way.You getting out now? Still not sure what to make of these long term but really missed the boat short term at least. Nice 1000% return would have been nice.Maybe, maybe not. I have a few that cost me $120 and I was able to arb some that will cost me nothing. I am also accumulating more at zero cost.
If you're right, it's cost me almost nothing. If you're wrong, who knows what they'll be worth. Like I said, you're as sharp as a beach ball.
I don't really care what they cost you. Just find your self-interested cheerleading funny, douchebag.Maybe, maybe not. I have a few that cost me $120 and I was able to arb some that will cost me nothing. I am also accumulating more at zero cost.
If you're right, it's cost me almost nothing. If you're wrong, who knows what they'll be worth. Like I said, you're as sharp as a beach ball.
Whitetail Hunter
Footballguy
Guess the truth hurts so much that you resorted to name calling. Impressive.I don't really care what they cost you. Just find your self-interested cheerleading funny, douchebag.Maybe, maybe not. I have a few that cost me $120 and I was able to arb some that will cost me nothing. I am also accumulating more at zero cost.
If you're right, it's cost me almost nothing. If you're wrong, who knows what they'll be worth. Like I said, you're as sharp as a beach ball.
Cheerleading? Child, please. I am as skeptical as anyone--I've just discovered a way to gain exposure with almost no downside. You, on the other hand, are so convinced you're right that you can't see the possibility you're wrong. And that is as close to the definition of stupidity as it comes. You're exactly the type of person I never want to hire--arrogant and stupid. A very dangerous combination.
