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Old 04-18-2018, 01:52 PM   #361
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https://www.engadget.com/2018/04/11/...rrency-miners/

So now they are reviving a coal plant to mine Bitcoin. Gee, good thing we are shooting ourselves in the face to limit CO2 so this can happen...Where are all the protesters?
Who would you protest against, exactly?
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Old 04-22-2018, 10:43 AM   #362
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Who would you protest against, exactly?
Coal pipelines.
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Old 04-27-2018, 09:21 PM   #363
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Old 05-24-2018, 09:12 PM   #364
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Cryptokitties

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Old 05-27-2018, 06:56 PM   #365
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If anyone wants to get connected to what's going on with Blockchain in Calgary you might find this event interesting...

https://www.eventbrite.ca/e/blockcha...ts-45838948529
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Old 08-15-2018, 09:00 PM   #366
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So, now that the bubble is bursting, can Fuzz and I say "I told you so!"? Billions of dollars lost to hacks, hundreds of billions in dollar value evaporated, and we've not hit bottom yet. Some currencies are now effectively worth zero - zero in stodgy old fiat US dollars, that is.

It might sound like I'm gloating, but it makes me more sad than glad - the resources wasted on the 21st century tulip craze could've gone just about anywhere and been more useful. There are people out there who moved all-in on the bubble and are now facing ruin, and you can only hope that this time the lesson sticks for more than a decade or so. Though it won't.
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Old 08-15-2018, 09:16 PM   #367
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I'm just happy it's happening now, instead of after we burn a crapload of coal for imaginary bits.


It will be interesting to see what all these larger operations do, and if they can manage to stay on life support for the next big thing that comes around. There was one setting up around Medicine Hat, I think, for the cheap gas and a few more in BC near hydro dams.


I wonder what happened to that guy who went all in and mortgaged his house or something. I think he dropped $100k into mining rigs.
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Old 08-15-2018, 09:55 PM   #368
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Hopefully the hardware can be reutilized and wasnt single purpose.
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Old 08-15-2018, 11:45 PM   #369
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Bitcoin is still worth over 8k Canadian FYI

Yeah some people lost their shirts, many of us have made a ton of money. BTC was $2K in May 2017

There is still plenty of money to be made in crypto if you know what you are doing.
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Old 08-16-2018, 12:16 PM   #370
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Bitcoin is still worth over 8k Canadian FYI

Yeah some people lost their shirts, many of us have made a ton of money. BTC was $2K in May 2017

There is still plenty of money to be made in crypto if you know what you are doing.
Can you still go out today and sell your bitcoin for that value and get cash without hassle? To me it seems "Know what you are doing" is code for got lucky getting into a grand scale Ponzi scheme from the ground floor, no way should the value still be that high and if anyone buys it still at that price well that's just crazy. Also to clarify by Ponzi scheme I'm implying that the value was manipulated in a way that would be illegal in stocks and profited on.

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Old 08-16-2018, 12:36 PM   #371
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Can you still go out today and sell your bitcoin for that value and get cash without hassle? To me it seems "Know what you are doing" is code for got lucky getting into a grand scale Ponzi scheme from the ground floor, no way should the value still be that high and if anyone buys it still at that price well that's just crazy. Also to clarify by Ponzi scheme I'm implying that the value was manipulated in a way that would be illegal in stocks and profited on.
Why do you think it is hard to convert Bitcoin to cash ? Sure you will eat a few % in fees but this isnt a difficult thing to do
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Old 08-16-2018, 12:50 PM   #372
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I'm talking about right now. During the boom it wasn't hard because people were pouring money in to back the currency value but at the end of the day we are saying a bitcoin is worth $8k with no money to back it. If everyone wanted to cash in today they couldn't.
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Old 08-16-2018, 06:24 PM   #373
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I'm talking about right now. During the boom it wasn't hard because people were pouring money in to back the currency value but at the end of the day we are saying a bitcoin is worth $8k with no money to back it. If everyone wanted to cash in today they couldn't.
On Bitfinex alone 160 million is BTC has been purchased and sold in the last 24 hours

Obviously if everyone wanted to sell the price would crash. This is the same for any stock or asset .

Over a billion dollar in BTC change hands every day. It is not hard at all to sell for the price shown. Use any exchange ! Just like selling a stock
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Old 08-17-2018, 04:27 PM   #374
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There is still plenty of money to be made in crypto if you know what you are doing.
Oh yes? Is that where if you'd already paid for the rig you're using to mine coins, you can still make money over the cost of electricity? Or is it where you're selling short some crypto stock? Or is it where you're counting "gains" like a gambler figuring that despite losing $1000 every one of the last 3 days, he hit a jackpot last week and is still "forging ahead"?

PS: that Bitcoin still has value *if you convert to currency* is exactly the problem, still. It is just like owning a stock, except that people are finally realizing that most of the crypto-currency stock market is investing in other people being naive enough to also invest, aka a Ponzi scheme.
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Old 08-17-2018, 04:35 PM   #375
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Haven't you heard, Jammies? It's going right back to 15 000 this year:


Quote:
“Bitcoin dropping to about 6600 on the 5th of this month [July] was probably the bottom for the year, it’s price will continue to climb and probably hit a peak of around 15,000 this year… Cardano is the most impressive so far.”



Other experts say that investors are limited on time to get on the ‘cyrptocurrency train’. This is something investors will have to decide soon otherwise they might be to late. After hitting the $8500 level, we could see Bitcoin soon after, surging up to $10,000.
https://cryptodaily.co.uk/2018/07/he...lly-into-2019/


You'd be a fool not to get in on this.
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Old 08-18-2018, 01:27 AM   #376
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I'm talking about right now. During the boom it wasn't hard because people were pouring money in to back the currency value but at the end of the day we are saying a bitcoin is worth $8k with no money to back it. If everyone wanted to cash in today they couldn't.
Come on now...that can be said about any stock/investment. The ####ing bank

I'm not mining, just trading and I transfer Crypto/Fiat multiple times a week and its no an issue at all.

People have done some ridiculous things but don't paint everyone with the same brush. There has been and continues to be plenty of money to be made if you have a strategy and stick with it. If it all unravels tomorrow I have already cashed out 700X what I put in.
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Old 08-21-2018, 02:21 PM   #377
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https://www.nytimes.com/2018/08/20/t...or-losses.html

After the Bitcoin Boom: Hard Lessons for Cryptocurrency Investors

Pete Roberts of Nottingham, England, was one of the many risk-takers who threw their savings into cryptocurrencies when prices were going through the roof last winter.

Now, eight months later, the $23,000 he invested in several digital tokens is worth about $4,000, and he is clearheaded about what happened.

I got too caught up in the fear of missing out and trying to make a quick buck, he said last week. The losses have pretty much left me financially ruined.

The value of all outstanding digital tokens has fallen by about $600 billion, or 75 percent, since the peak in January, according to data from the website coinmarketcap.com.

Kim Hyon-jeong, a 45-year-old teacher and mother of one who lives on the outskirts of Seoul, said she put about 100 million won, or $90,000, into cryptocurrencies last fall. She drew on savings, an insurance policy and a $25,000 loan. Her investments are now down about 90 percent.

I thought that cryptocurrencies would be the one and only breakthrough for ordinary hardworking people like us, she said. I thought my family and I could escape hardship and live more comfortably, but it turned out to be the other way around.

Much of the anger that investors feel is toward the smaller virtual currencies, or alt coins, that entrepreneurs sold in so-called initial coin offerings. These coins were supposed to serve as payment mechanisms for new software the entrepreneurs were building.

But almost none of these companies have delivered the software they promised, leaving the tokens useless, except as speculative assets. Several coins have been exposed as outright scams.
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Old 08-21-2018, 03:42 PM   #378
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I thought that cryptocurrencies would be the one and only breakthrough for ordinary hardworking people like us

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Old 08-23-2018, 12:16 PM   #379
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"Now, eight months later, the $23,000 he invested in several digital tokens is worth about $4,000, and he is clearheaded about what happened"

"Kim Hyon-jeong, a 45-year-old teacher and mother of one who lives on the outskirts of Seoul, said she put about 100 million won, or $90,000, into cryptocurrencies last fall."

If she put 90K into bitcoin last October it would be worth quite a bit MORE than 90k right now...yet they call the article "after the bitcoin boom"

Alt coins killed her
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Old 08-23-2018, 12:26 PM   #380
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Sure, if you pick the start of October when it was $4400.. But it says "fall" which may mean up to Dec 21 at which point it was up to $19,500. Any time after Nov 1 the price was higher than it is now.
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