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Thread: Bitcoin billionaires

  1. #25
    Hmm... I don't think 4 million have been lost...they just haven't been mined yet.

  2. #26
    #1 Gem Finder! Nicole King's Avatar
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    Bitcoin is not going anywhere soon. Its got too much of a head start on the other Altcoins. Most merchants only know how to accept Bitcoin, not too many people understand or know about the other available crypto currencies.


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  3. #27
    I think the Bitcoin thing is virtual and not real money. Its perception of "virtual values" go up and down perhaps by manipulation of the Bitcoin's creators / manipulators. It plays on the psychology of people's greeds. Once there is no more feeds (moneys) being fed into the pools with drainage, it will collapse and hurt many people financially.

    Get out of it before you will get hurt again.
    Last edited by NiceToMeetYou; 01-01-2018 at 10:39 AM.

  4. #28

  5. #29
    People are literally losing there shit over this
    A lot of people are going to lose a lot of money trading (bag holders). If they haven't already. You have companies announcing there gong to get into bitcoin / blockchain and the stock goes up 200% - 300% then crashes. Leaving all the bag holders hoping it'll go back up. I see it all the time in the markets NETE is a great example of that
    For this digital currency to have any viability it's got to be a hell of a lot more stable. Imagine you're a store owner and you sold a TV for bitcoins. The next day that currency goes down lot. In effect he's lost money now. The currency has to marinate for a couple years imo.

    Then you have Quantum computers just around the corner. It wouldn't take much for a quantum computer to decrypted a 128 bit encryption level. It would try every single combination at once given you had enough cubits. DWAVE currently has a 1000 cubit Quantum computer. The level of data you can go through is astronomical. Something that would take a conventional computers years to do, it would only take a quantum computer seconds. Digital currencies have lot of obstacles. Personally I'll stick to what work, the almighty dollar.

    That's my 2 pennies

  6. #30
    Digital currency is the future, one way or another.


    Think of the children -> http://www.numberofabortions.com/
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  7. #31
    Last year I invested in Shitcoin.

  8. #32
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    Eventually Blockchain currencies will be the future but not yet.

    https://www.economist.com/blogs/grap...daily-chart-14

  9. #33
    I post, therefore I am.
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    https://ca.finance.yahoo.com/news/ap...150005337.html

    Bitcoin mining takes a lot of electricity.
    Ontario Hydro produces too much electricity for nighttime consumption and sells it at a loss to the US.
    Duh?
    Orange is the new Orange.

  10. #34


    Think of the children -> http://www.numberofabortions.com/
    I want you to point your finger at me. I want you to call me names.

  11. #35
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    The crash will come and it will be painful from this shell game and house of cards. It only takes a little spark to create a massive downgrade and inferno that no central government can put out.
    dick at largedick at large

  12. #36
    Quote Originally Posted by lomotil View Post
    The crash will come and it will be painful from this shell game and house of cards. It only takes a little spark to create a massive downgrade and inferno that no central government can put out.
    It's times like this when people panic and sell at a loss. Only two things should happen: 1) Hold or 2) Wait for it to crash and buy more.


    Think of the children -> http://www.numberofabortions.com/
    I want you to point your finger at me. I want you to call me names.

  13. #37
    Quote Originally Posted by Smallcock View Post
    Only two things should happen: 1) Hold or 2) Wait for it to crash and buy more.
    That logic served me well during the recession. But Bitcoin is a little different.

    Bitcoin is now down 68% from it's peak in mid-December. But I think people forget that Bitcoin already had a major crash. It was 93% down over a 2-month period in, eerily enough, the same 2-mo stretch (December - February), but back in 2013/14.
    The important thing to note about Bitcoin is that it will always have its uses. That said, governments can severely hurt Bitcoin with regulation, and they have a reason to do so. That is why I don't hold Bitcoin. Though I do congratulate those who have made a killing on it!

  14. #38
    Quote Originally Posted by lomotil View Post
    The crash will come and it will be painful from this shell game and house of cards. It only takes a little spark to create a massive downgrade and inferno that no central government can put out.
    Some believe that's what will spark the next financial crisis. If the US housing market doesn't crash again like in the movie the Big Short.

  15. #39
    Bitcoin up after what looks like it was going to crash.

  16. #40
    does it continue or is it just a dead cat bounce?

  17. #41
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    bitcoin may have hit a bottom from that massive drop



    could be stabilizing from current price



    after which, it may resume its upward momentum once more



    for the meantime, expect a bumpy ride


    and watch that money roll in, that's if you time it right



    French kissing involves all 34 muscles in the face.
    A pucker kiss involves only 2.


  18. #42
    I think it is cool to collect so many bitcoins...maybe need to start mining them, what do you think about it? It is not so difficult as I know. Only need to buy good GPU for mining https://gpuformining.top/ and start to get passive income

  19. #43
    Quote Originally Posted by Chiroden View Post
    I think it is cool to collect so many bitcoins...maybe need to start mining them, what do you think about it? It is not so difficult as I know. Only need to buy good GPU for mining https://gpuformining.top/ and start to get passive income
    You only need start up capital these days in the hundreds of thousands of dollars. No ordinary CPU is capeable of mining bitcoin. and you'll need a hydro source with bills of thousands per month. LOL

  20. #44
    Quote Originally Posted by wonkyknee View Post
    You only need start up capital these days in the hundreds of thousands of dollars. No ordinary CPU is capeable of mining bitcoin. and you'll need a hydro source with bills of thousands per month. LOL
    Not true. All you need is a ASIC that can mine the SHA-256 algorithm to mine Bitcoin. The Antminer S9 cost $2000USD and it’s all you need to get started. Whether you have 1 or 1000 machines your profit margin remains more-less the same as long as electricity cost is the same.

    You can’t mine Bitcoin with a CPU or GPU. However, if you mine with the NiceHash pool, they will pay you in Bitcoin for mining alt-coins.

  21. #45
    Every new bitcoin found makes the next exponentially more difficult, and more costly. What was always obvious to many is becoming increasing obvious to everyone that the only use for bitcoin is black market activities. Everything always looks better when the price goes up, but fundamentally its corrupt currency serving only corrupt purposes. The majority of the coins are in the hands of very few. Its no different than the existence of bearer bonds. Bearer bonds have been around forever and very few institutions will deal with bearer bonds for much the same reasons. Once again, the hype machine and fabricated high prices are the only thing giving this garbage legitimacy. The get rich quick hype never dies. Same reasoning millions line up to donate taxes at the lottery booths all over the world every week. Its pathetic really.

  22. #46
    I do think RBC's idea to use blockchain for credit reporting is an excellent example of how to use blockchain successfully.

  23. #47
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    Quote Originally Posted by wbh32 View Post
    I do think RBC's idea to use blockchain for credit reporting is an excellent example of how to use blockchain successfully.
    wouldn't the electricity cost, break their bank books



    French kissing involves all 34 muscles in the face.
    A pucker kiss involves only 2.


  24. #48
    No. For many reasons. Credit report transactions don't need instant turn around so you can mine off peak, plus the volume of transactions is much less than currency transactions....just to name a couple.

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