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2018 AOTY/DOTY Entry

Topic: Bitcoin  (Read 2053 times)

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SteveS

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We have an effort looking at block chain for some horizon 3  business scenarios, but right now it is more of a solution looking for a problem to solve.
The technical hurdles to get block chain to parity -thru-put,  cost to scale, etc are definitely  real.

The big consulting firms are out there pushing block chain right now, likely generating some of the non-crypto currency buzz....



NowhereMan

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There is a huge bitcoin mining operation outside of Missoula at the Bonner Millsite, the "Project Spokane" bitcoin mine.  The humming from the building can be heard throughout the neighborhood.  The superintendent of the Bonner School District compared it to the sound that a jet airplane makes when it's winding up to take off, except it just stays there and never takes off.  The power demand is huge.  Project Spokane has been obtaining power from the large substation which used to serve the lumber mill, and they are in the process of adding additional lines from another substation across the Blackfoot River.

Worldwide, the energy consumed by bitcoin mining is said to be equivalent to that of the Iceland today, and likely to surpass Denmark by 2020.

https://motherboard.vice.com/en_us/article/aek3za/bitcoin-could-consume-as-much-electricity-as-denmark-by-2020
Knows not where hes going to...


big bear

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Mining is done by graphics card these days.  It does fluctuates very rapid, it's all due to  demands.  To mine any bitcoin or litecoin and ethero, be prepared to lose money.  State of California has a very high electric price. Compared to the rest of the country, also there are still alot of big mining farms.  There is a limited amount of coins  available to be mined. So your basically fighting against many farms.  It's okay to invest in it, but remember it's like stocks but more volatile.

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pmmpete

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My retirement money is currently invested in Star Wars action figures and Beanie Babies.  When those go up in value and I liquidate them for a profit, I'll turn to bitcoin investments.


Mojo Jojo

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My retirement money is currently invested in Star Wars action figures and Beanie Babies.  When those go up in value and I liquidate them for a profit, I'll turn to bitcoin investments.
My retirement money is currently invested in kayaks and fishing gear. Now unfortunately I'll never liquidate it as it's way too much fun and i just can't seam to let one go, but once I die my wife should be set for 20-30 years unless I die soon cuz I seam to buy another one every year or so.


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iairj84

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It was a good 6 or so years ago that I first really got into bitcoin. I had a pretty decent gaming computer that wasn't being used much and since my electric bill was being paid by my landlord I found it fit to run it 24/7 as a mining rig. After a good 3 or 4 months of it running non stop I had managed to mine ~3.5 bitcoins! Cool I thought, that just made mined me about $25 worth of bitcoin, ultimately the value wasn't going up at the time and since I moved out of the sweet free energy situation I decided to stop mining all together. I didn't think much about those bitcoins and help them in a secure bitcoin wallet stored offline on a hard drive... Fast forward to July of 2016 and I read somewhere on the web that bitcoins were selling/trading at ~$650/bitcoin!!! Score!! With the volatility of the market I figured it can't possibly go up too much from there and with the upcoming election who knows what could happen???? So, I sold my bitcoins and pocketed a cool ~$2100 cash and put it towards fishing gear and a small vacation, overall not too shabby for a few months of computing power... Then I saw this thread and checked the current value....  :smt021 fantastic.
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MontanaN8V

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Reminds me of stockgeneration.com back in the late 90's.
Very hard for me to invest in a theory for capitalism derived by liberals.
Live your life, the way you want to be remembered. Don't have any regrets, we only get this one dance to make it count. Start at your eulogy, and work backwards.


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Sale: 12Ah/15Ah Lithium Battery
http://www.norcalkayakanglers.com/index.php?topic=84409.msg959037#msg959037


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Chet

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Bitcoin hits $10,000 yesterday.
Sale: 12Ah/15Ah Lithium Battery
http://www.norcalkayakanglers.com/index.php?topic=84409.msg959037#msg959037


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http://www.norcalkayakanglers.com/index.php?topic=75214.0

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NowhereMan

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Bitcoin hits $10,000 yesterday.

Over $11,000 today...
Knows not where hes going to...


crazyfisher

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then it dropped 2k in a matter of an hour.

Still double from previously!! crazy.


SteveS

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Bit coin is a terrible currency, but appears to be a decent speculation.

To be a solid currency you need two things:
Good value store
Readily available for exchange

It's undeniably a good value store. However, it is terrible for exchange. It's the reverse of Hungary post ww2. Why would anyone spend them on say, eggs, when they know that tomorrow those eggs could cost half as much?
Until and if it ever settles down in volatility (the inflatioon/deflation rate against goods needs to be very low) it isn't a currency...more like speculating on a unicorn


Chet

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I don't put my life saving into bitcoin, but I cannot resist in the pump/dump action of it.
If you have some "play" money, it does not hurt to look into it.

I made decent money sold some yesterday.
Sale: 12Ah/15Ah Lithium Battery
http://www.norcalkayakanglers.com/index.php?topic=84409.msg959037#msg959037


***************--------------******************
2016 Kayak_Crossing Catalina Island
http://www.norcalkayakanglers.com/index.php?topic=75214.0

2016 Dune Hobie AI
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austin61

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who hate Bitcoin? james dimon(ceo of jp morgan), bank of america, chase bank ... because Bitcoin will destroy current financial system.
who love Bitcoin? JP Morgan, Coinbase, mining companies, hackers, billionaire, who owned black money  ... because they are enjoying alot.
As you may know, Bitcoin is not currency, it is a just asset like a stock. we are heading back to the stone age. For example, you pay salmon(asset) to buy gas(asset).
Government is facing a big problem which is not easy to collect tax. But it is too late to stop this wave because most bitcoins are owned by billionaire already.
If my perception makes sense, Bitcoin price will continue to climb up ... 


DrHabanero

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To really make money in bitcoins is be like the people who made money in the old days during the gold rush. Be the person to sell the mining equipment to everyone that is always the most profitable option!  :smt005
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