Remember when they said Bitcoin was the people's way of challenging the bankers?

You have to run a ton of miners to make a profit. The cost/reward ratio is very very low. Of course it got better with the rapid advance in bitcoin value, but its still hard to make money by mining bitcoin unless you invest heavily in solar power. It will take you much longer to make a profit but once you do it will grow fairly quickly. The better investment is just to buy it and ride it for a while. I did and I am sitting on 50% increase in value of the crypto-currencies I own as of today.

originally posted by: AugustusMasonicus

originally posted by: dfnj2015
Crime pays better than hard work.

I take it you've never read Freakanomics where it was demonstrated the typical drug dealer makes less than a person working at a fast food restaurant.

I have never read it. But having done both in my early years I will say its BULL CACA.

originally posted by: notsure1
I have never read it. But having done both in my early years I will say its BULL CACA.

Then if you've never read it you really have no basis of factual evidence.

a reply to: TruthxIsxInxThexMist

It's true. I'm still kicking myself in the butt. I would've been worth 8 or 9 figures by now if I did buy bitcoin back then, which I almost did. I've gained some this year though, and hope to make more next year.Especially with alt cryptos.

Sebastian Purcell, an assistant professor at SUNY Cortland in New York, wrote that he believed CME's futures market would boost Bitcoin's price - but ultimately "spells the end of Bitcoin mania".

In a market outlook piece written for Seeking Alpha, Mr Purcell said: "These capital flows from institutions will temper volatility. This will make Bitcoin undesirable for traders, since volatility is critical for a good trading vehicle.

"These points mean that the gold-rush is over, but perhaps they also mean that Bitcoin could finally serve as a digital currency."

news.sky.com...

originally posted by: TheBandit795
a reply to: TruthxIsxInxThexMist

It's true. I'm still kicking myself in the butt. I would've been worth 8 or 9 figures by now if I did buy bitcoin back then, which I almost did. I've gained some this year though, and hope to make more next year.Especially with alt cryptos.

What's true? £100 being worth 75million now after 7 years?? I doubt it. Nothing can give you a percentage increase that huge

Ah yes, the sweet coin that is none. I've expressed my doubts about this before and will continue to do so.

The main problem with BTC right now, in a nutshell, is this : Why would you buy a car with BTC this week when maybe you can buy a house next week?
Let that sink in for a moment, and realise that mining requires BTC transactions.

I find it very hard to believe that the current value is an accurate reflection of the market. Instead what we have here is a demand for BTC that is mainly driven by speculation that the (short term) value of it will increase significantly.
To what degree is this specualtion in BTC going to influence the potential of it as a globally accpeted legal tender?

What I'm saying here is that the current success of BTC is going to be detrimental to its succes in the future. So even in the best case scenario where the value will level out and become more or less stable A LOT of BTC owners are going to cash in and flood the market causing a massive drop in value.

Ofcourse this is all speculation on my part, but valid points none the less me thinks

Bitcoin(24h)[object Object]%
$9830.68
EUR:€8270.53
GBP:£7393.44
CNY:¥40202.50


Thats already a drop of $200 this morning

originally posted by: AugustusMasonicus

originally posted by: notsure1
I have never read it. But having done both in my early years I will say its BULL CACA.

Then if you've never read it you really have no basis of factual evidence.

Again what about the fact that I have done both and made alot less money at Mcdonalds then i did selling weed?

a reply to: Revolution9

Futures market? Ha!

When forward contracts are being traded on an exchange you have lost all control.

The futures markets are used to get a "handle" on the thing being traded. Once everybody agrees to accept a "price" based on futures contracts then you are at the mercy of the very largest traders who move the market at will. You may wake up one day to find that bitcoin has been knocked down to parity with the dollar. You must at least wonder why the "bitcoin" thing was set up as a gold rush type scenario. Why did the unknown bitcoin creator make a system that required YOU to find the answer to some crypto problem? Why are YOU mining for the bitcoin? Why wasn't there a computer already in existence that was powerful enough to solve the crypto problem? Oh, wait.... the internet.... and YOUR equipment and YOUR electric bill. YOU did it for THEM.

originally posted by: notsure1
Again what about the fact that I have done both and made alot less money at Mcdonalds then i did selling weed?

Do you know the differencve between anecdotal information and a controlled sample?

And I Stiil dont know what they DO!
with All this computing power?

its like the SETI computer net work.
even That is use'd for other things!

they USE you as a supercomputer network.
and YOU pay for it!!!!!

a reply to: buddha

What do they do with all this computing power you ask?

Well, they waste it on 'useless' calculations of the block chain. In very simple terms you could say that the block chain is like a long list of chronological BTC transactions that has complicated math behind it for checks and balance. As a reward for the computing power the miners get bitcoin. This is the only way to generate bitcoin and becomes more complicated as fewer and fewer unmined bitcoins are available

So, in short. There is no crypto problem, it's all artificial. You mine to earn bitcoins and to enable the chain to grow. All the computing power is used in generating the next part of the chain

a reply to: Jubei42

What happens when all bitcoins are "found"? How does the thing continue to operate?

originally posted by: Generation9
a reply to: Jubei42

What happens when all bitcoins are "found"? How does the thing continue to operate?

Transaction fees will rise. Probably a lot.

I'm trying to play smart with the cryptomarket, that's why I invested in Einsteinium @ $0.38

a reply to: Revolution9

You can't imagine how much I enjoyed reading your post. I try to tell people I know but they argue with me saying "oh, people have said mark of the beast for years and nothing has ever happened" and just ignore it. But as I always tell them back...there is even a Bible verse that says in the last days days scoffers will say "where is the promise of thy coming" everything is as it has always been. It encourages me to actually read someone else having the same ideas and thoughts about this. Most of the people I know are either (a) athiest or (b) "Christian?) who claim to believe in God and go to church regularly but never ever talk about the end times much less study it. Thanks for sharing your ideas on the subject!

a reply to: Village Idiot

Aaand it's at $1.94. I was casually watching it, but didn't invest. At least I've had between 6x to 8x ROI on my my other cryptos till now. (exluding what I've give to my dad). I'm expecting more in 2018.

Did it even hit 12k before jumping to 13k?

a reply to: JinMI

And on to $15K.

The boys in Chicago start trading the forward contracts on Sunday. CBOE starts futures trading on Sunday, December 10, 2017. They take total control on Sunday.

I think we will see the price drop. It might first go up and then swoon, or it might just start to drop immediately. I think a major slaughter could influence suicide rates.

There is no way the elite, the bankers, the wealthiest and most influential on the planet will allow millions of random people to become billionaires overnight. There is no way Bitcoin goes to $1,000,000. It was all a game of pump and dump. I do believe bitcoin will serve some purpose in the future, but for now the futures traders will most likely crush it down to a tiny fraction of its current price.