Bitcoins

[Thor]

Originally Posted by Azure

Question, is this site legitimate?

https://bitcoinnordic.com/sell/

Has a lot of reviews in the positive, seems legit.

[Hack&Lube]

Originally Posted by Azure

I'm looking for a secure way to sell Bitcoins and transfer the money into Paypal.

There seem to be various sites out there, but rumor has it PayPal isn't kind to Bitcoin transactions.

Why do you want to transfer to Paypal and not to your bank account? That's what I do.

[Hack&Lube]

Originally Posted by Azure

The amount of money Hack could have made is now up to $112,500.

Price just hit $225.

Tears are not enough. It's going to hit $300 CAD by this evening probably.

[Azure]

Seems to have stagnated a bit now. Hovering around $235 for the last couple hours.

I would be very, very happy with $300.

[Hack&Lube]

Originally Posted by Azure

I know, probably not funny. Somehow I think Hack has fired up his rig, and is probably letting her rip right now.

The difficulty is so high I'm barely paying for lunch with 12 hours of mining with 1 rig but if price climbs with difficulty then we have something...

[arsenal]

Hack: Are you running solo or in a pool?

I read up a bit on mining over the weekend, and since I have a computer with an ATI card sitting around doing nothing, i decided to set up a miner. Running as part of a pool I am making about 0.01 BTC in a 24 hour period only with about 323 MHash/s.

I guess I am just doing this right now to see what happens with it. I have a machine I don't use, and sits there collecting dust. I figured I might as well get it to do something.

[Hack&Lube]

Originally Posted by arsenal

Hack: Are you running solo or in a pool?

I read up a bit on mining over the weekend, and since I have a computer with an ATI card sitting around doing nothing, i decided to set up a miner. Running as part of a pool I am making about 0.01 BTC in a 24 hour period only with about 323 MHash/s.

I guess I am just doing this right now to see what happens with it. I have a machine I don't use, and sits there collecting dust. I figured I might as well get it to do something.

Pooled. Mining solo is pretty hopeless with the current difficulty and the size of pools out there. You could mine forever and never solve a block chain.

Solo may be feasible again once ASICs are out until pooled ASICs take over (which is likely).

Unfortunately with pools there are various things you have to deal with like pool hoppers (sorta fixed with PPLNS) and the pools keeping transaction fees, etc.

Bitcoin has a semi-pyramid scheme like quality where those who originally solve a block recieve a fraction of all subsequent transaction fees so if you are solo you can get these but if you are pooled, the pool keeps them for themselves. In the early days it didn't matter to much but with ridiculous prices like today, pools must be raking in fortunes.

[1_Flames_Fan]

I can't believe these have gone from being worth $12 to like $225 plus in a matter of a month or so. It's crazy

Sent from my Nexus 4 using Tapatalk 2

[Slava]

Hopefully some of you guys cashed in....bitcoins are down about 25% today.

[Thor]

I hope they drop a lot more to be honest

[Rathji]

Down to $160

[Hack&Lube]

Under $150 now.

[GP_Matt]

For those who did cash in and those mining them, has anyone looked into the tax implications?
If you bought coins low and sold high you would owe tax on the gains just the same as if you mine coins and sell them, if there is profit it is taxable.

[arsenal]

It's now 120...

[Hack&Lube]

Originally Posted by GP_Matt

For those who did cash in and those mining them, has anyone looked into the tax implications?
If you bought coins low and sold high you would owe tax on the gains just the same as if you mine coins and sell them, if there is profit it is taxable.

I guess tax-wise it would look like capital gains from currency exchanges...but Bitcoin is hard to track and that's why it's enticing for criminals. I doubt most people claim Bitcoin income.

[Hack&Lube]

Cashed out 1/3 of what was left because the signs are there from previous Bitcoin crashes that it will go down fast. If there are signs that it's going up again, can re-purchase and mining continues.

A crash in value will also take miners out of the market and we can hope for an equivalent drop in difficulty.

[Hack&Lube]

Looks like a small recovery now. Dipped down to $125 but climbing back to $150+ Maybe a minor panic. Some people probably decided to cash out a big chunk last night after it dropped from $290 to $240.

[Thor]

Really really want it to stick around 100 for a few weeks, and have a few less people in the waitlist for ASICs

[Hack&Lube]

I think I accidentally catalyzed the Canadian Exchange

Now people are buying again. Flash panic...

[Thor]

lol yep almost 200 USD again