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BitCoin Insane profit!

Discussion in 'CryptoCurrency' started by BigoS, Nov 18, 2013.

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  1. BigoS

    BigoS Newbie

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    Hi guys,
    I am wondering is anybody tring to earn some cash, mining bitcoin. How's yours hardware is?, what kind of ASIC hardware u use?. Post your specifications .Today bitcoin exchange is insane :]. How you forecasts bitcoin in future?
     
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  2. chromeo

    chromeo Registered Member

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    Apparently there is no money in mining bitcoin if you are operating on your own. Good luck to you though.
     
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  3. baddth

    baddth Newbie

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    1. just got Butterfly Lab order shipped. I'll check it out soon :)
    They have a variety of hardwares. Can you share your experience?

    2. In terms of its future prospect, I think there's some long term value, but its exchange rate should not rise too quick. When the currency is unstable, it's hard to imagine that consumers would actually pick up. Right now I see more speculators in the market than its actual users.
     
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  4. pxoxrxn

    pxoxrxn Supreme Member

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    I got my ASIC yesterday. Hooked it up and I am now set, with these huge prices, to earn $2 per day. It will never pay itself off, but I guess I can use it to solve medical problems or some shit.
     
  5. youssfy

    youssfy Senior Member

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    After seeing this thread I opened BTC-e and was left off my chair seeing that BTC is now around 700$.

    And happy that I have some BTC at BTC-e which I purchased for 70$/BTC :D

    BTW, I have heard that mining now-a-days is really tough as you need very powerful HW.
     
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    Last edited: Nov 19, 2013
  6. SocialMediaManager

    SocialMediaManager Elite Member

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    it will not even worth the electricity you are spending
     
  7. gypsyr0ad

    gypsyr0ad Regular Member

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    I was gonna get into it myself, did a bunch of research and from what I learned, its very saturated and the cost of the top of the line hardware to be successful will take forever to pay for itself, not even including your electric bill.

    I gather, the money is being made selling the actual hardware for it.

    If you have the funds to invest in having better hardware built then what is available, you could make insane profits.
    The top companies are doing it right and limiting sales, further pushing the cost of the machines up well into the hundreds of thousands of dollars.

    Of course, it takes money to make money, but from what I read, one could get very rich by marketing the next big machine.
     
  8. daserpent

    daserpent Power Member

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    Yea, Bitcoin is going crazy because chinese are buying up all the available BTCs in the market. It is gonna cross $1000 mark very soon (maybe within this 1 week)

    Many exchanges are going out of stock. Eg : coinbase. The price fluctuations are great at this time, I have made a 50% profit (in just these last 10 days) with my small investment.

    You gotta be cautious how you trade though, if you don't know trading then you should learn from some youtube videos(although most are just to make u a noob at trading) or else find some good trader and ask him to trade for you on your behalf.

    Whatever the case may be, it is definitely an opportunity that is not worth missing.
     
  9. Checkmate

    Checkmate Elite Member

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    WOW! last time i checked weeks ago it was 260/BTC.
     
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  10. jaron002

    jaron002 Junior Member

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    damn this is baller trading! you gotta pay to play in this section of the internet
     
  11. Okidoky

    Okidoky Registered Member

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    today it seams to late to join the mining. how ever if you include the potential rise of price it could be worth it buying an ASIC Minier. But thats speculation.. you can buy the Coins and have the same potential without hassle..
     
  12. mightybh

    mightybh Jr. VIP Jr. VIP Premium Member

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    I've had around 200 bitcoins a few years back when they first came out and they were worthless. I gave a bunch away and tested them on various things. I then reinstalled my OS and never backed up the wallet because I did not care. I felt sick when they hit $200 a while back. Now $900!
     
  13. travanx

    travanx Regular Member

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    I found some fractions of a BTC from some random pool I mined on and couldn't believe it was worth anything. Just sold all my LTC and BTC tonight.
     
  14. shaneparkins

    shaneparkins Junior Member

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    It's very hard to make bitcoins when it's in the media so much, you need to wait for it to die down, make bitcoins then sell when it's back in the media, it's on the BBC site and international news due to the US meeting or something. It also makes news when it reaches new highs, it's like catch 22.
     
  15. Stokkie

    Stokkie Newbie

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    It doesn't have much to do with media attention. The difficulty has been rising all year as asic miners are being shipped constantly. Unless you have free or very cheap electricity you are better off buying some coins hoping they'll become worth even more then they are now. There are only 12 million coins at the moment and a maximum of 21 million will be reached in 2140 so it has great potential to become worth more. However, there is always the risk of negative news but for now the media loves it.

    See also the difficulty graph of this year: http://blockchain.info/charts/difficulty
     
  16. Nigel Farage

    Nigel Farage BANNED BANNED

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    I plan on spending every penny I've got on BitCoin, the next time Mt. Gox crashes.
     
  17. Theodore

    Theodore Power Member

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    wow its currently at 691? WTF?!? Last time a looked a few months back it was dropping and was around 50-60 mark, wish I had invested now...
     
  18. Nigel Farage

    Nigel Farage BANNED BANNED

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    I don't understand how seemingly intelligent people can in good conscience make posts like this. No personal offense, but it's a classic example of an intelligent person assuming something and then basing an entire post on that assumption, which in this case is that the value of BitCoin remains relatively static. Sure, it will "never" pay for itself, nor even the electricity at $100, $1000 per BitCoin, but BitCoin is a dynamic variable in the equation.

    What if the value of a single BitCoin reaches $10,000? $100,000? Is BitCoin mining a waste of money at that point?

    I have no strong opinion on this particular matter, but I do feel strongly that intelligent people need to be held to a higher standard and be "called out" when they choose to ignore profound areas for consideration and proffer simple-minded opinions to an audience of simple minds. We're not here to keep people ignorant. I thought the whole point is to elevate the community, and posts like this do not cut it.

    Here's why:

    Because, in one area of consideration, there is a class of asshole scammers that drivel retarded notions of SEO lifted directly from shitholes like Warrior Forum, and they sell that stupid shit here, and with all the bans, etc... that have taken place over the last few months, the intellectual reserves of
    BHW have been dramatically depleted. This is a much dumber place than it used to be. And you can look at the uptick in SL threads, as well as undocumented scams that do not make the SL forum, to see the natural results of that depletion. Allowing stupidity amongst established members fosters stupidity amongst newer members, which has direct effect on the perceived integrity of the forum overall. The only people that benefit from this are the scammers.

    It's a new day. I expect those that have to ability to do better than this. I also expect them to do a better job of communicating this message to those that need to receive it.
     
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    Last edited: Nov 19, 2013
  19. Logician

    Logician BANNED BANNED

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    Have you considered applying for a mod position? There are very few individuals that are as passionate about the quality of this forum as you are. I would hate for this forum to become a mundane shadow of WF.
     
  20. hzwill

    hzwill Junior Member

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    Yeah, anything if chinese people get in, the price will go rocket due to the large population and almost unlimited hot money. I will no doubt that the price would rise more. If you don't think so, just check the BTC price history, it is still below 50 half year ago (after several years developed), and at the beginning of 2013, the bitcoin news are suddenly came out in many ways in china( papers, magazines, of course online).

    As a chinese, I surf many kind of Chinese forum and website (domain, webhosting, investment,) almost every forum had this kind of posts. It is really very hot now here, even some guy already lost money in this field.

    But for me, I will never play this game (I mean the trade part, not the mining part), I still think it is a bubble game, and the end will be burst(although many economy experts call this genius).