All Forums | General Discussion

Bitcoins for gambling....

...
Participants:
Search model icon
Views: 63454
Posts: 419
 
Captain
Participation Meter
Joined: Apr, 2006
Posts: 5855
Posted: #151
The main site that most of the bit coin transactions take place is a joke...keeps getting Ddos'd 
 
Veteran
Participation Meter
Joined: Jan, 2007
Posts: 3600
Posted: #152
Winklevoss twins own 1% of all BitCoins valued at $1.3 Billion
 
Veteran
Participation Meter
Joined: Jan, 2011
Posts: 2260
Posted: #153
On 2001 , Amazon stock went from 107 to 7 dollars per share, but now exceeded 250.   Not saying Bitcoin would be same but many thought Amazon would survive when dot com fell off.
 
Veteran
Participation Meter
Joined: Jan, 2011
Posts: 2260
Posted: #154
Broadcast .com didn't survive though
Mark Cuban got out (sold)and i got out too late
 
Veteran
Participation Meter
Joined: Jan, 2007
Posts: 3600
Posted: #155
Quote Originally Posted by TRAIN69:

I get that, I just think the huge price difference will make people speculate woth litecoin simply as a short term investment


What are you going to speculate over if there is no advantage?
 
Prospect
Participation Meter
Joined: Jul, 2012
Posts: 290
Posted: #156
Bye bye bitcoins.

Somewhere out there is a moron holding a bitcoin he paid $267 for. In a few days you'll be able to buy 30 bitcoins for $267
 
Legend
Participation Meter
Joined: Nov, 2001
Posts: 59911
Posted: #157

About 60 bucks right now....

What a ride.

The instability makes it a joke at this point.  They gotta get this worked out.

Support your local animal shelter. I am on twitter.
 
Veteran
Participation Meter
Joined: Jan, 2007
Posts: 3600
Posted: #158
Steve Forbes weights in -> https://www.forbes.com/sites/steveforbes/2013/04/16/bitcoin-whatever-it-is-its-not-money/
 
Veteran
Participation Meter
Joined: Jan, 2007
Posts: 3600
Posted: #159
And of course Dread Pirate Roberts counters -> https://www.forbes.com/sites/andygreenberg/2013/04/16/founder-of-drug-site-silk-road-says-bitcoin-booms-and-busts-wont-kill-his-black-market/
 
Prospect
Participation Meter
Joined: Nov, 2012
Posts: 79
Posted: #160
Bitcoin has become a big deal for those who believe traditional fiat currencies are massively devalued. It will spike into a massive bubble before collapsing due to tech/govt attack, that is the buying point for a good long term investment.
 
Legend
Participation Meter
Joined: Nov, 2001
Posts: 59911
Posted: #161

108 today.

Roller coaster.

Support your local animal shelter. I am on twitter.
 
Rookie
Participation Meter
Joined: Jul, 2012
Posts: 982
Posted: #162
I've heard about this, my buddy is going to a conference in Cali next week about it. Anytime something is based on supply-deman, psychology and mathematical algorithms (most notably the stock market), it is not for the faint of heart.
 
Veteran
Participation Meter
Joined: Sep, 2006
Posts: 3329
Posted: #163
https://sports.yahoo.com/news/bitcoin-%E2%80%93-the-new-way-to-bet-online--161411695.html
 
Veteran
Participation Meter
Joined: Mar, 2011
Posts: 1427
Posted: #164
115$

just before the bitcoin conference
 
Hall of Fame
Participation Meter
Joined: May, 2005
Posts: 27041
Posted: #165
https://www.cbc.ca/news/business/world-s-first-bitcoin-atm-goes-live-in-vancouver-tuesday-1.2251820
 
All-Star
Participation Meter
Joined: Oct, 2009
Posts: 14212
Posted: #166
good investment for some

https://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home
 
Captain
Participation Meter
Joined: Mar, 2009
Posts: 5068
Posted: #167
$201.33     
 
Banned
Participation Meter
Joined: Sep, 2006
Posts: 2338
Posted: #168
to the mooonnnn alllliceeeeeeeeeee
 
Captain
Participation Meter
Joined: Jan, 2009
Posts: 5156
Posted: #169
Been mining and using for several years. Bought things any where from  Beef Jerky to art work needed for websites with BTC.
Sold a bunch at $245, held on to about 25%
The best thing in my mind that has come along in this great age of the internet. Admittedly I never though it would come this far but I'm glad it did!
I love people who say it's not secure or it's not worth anything I just give them a wry smile.  Most of the time it is some investment guru who knows nothing and could not make these kind of returns in 10 lifetimes.

BTC
 
Legend
Participation Meter
Joined: Oct, 2002
Posts: 54627
Posted: #170

Quote Originally Posted by Denverb:

Been mining and using for several years. Bought things any where from  Beef Jerky to art work needed for websites with BTC.
Sold a bunch at $245, held on to about 25%
The best thing in my mind that has come along in this great age of the internet. Admittedly I never though it would come this far but I'm glad it did!
I love people who say it's not secure or it's not worth anything I just give them a wry smile.  Most of the time it is some investment guru who knows nothing and could not make these kind of returns in 10 lifetimes.

BTC

Please describe the whole "mining" process. I dont get it.

 

denver

 
Legend
Participation Meter
Joined: Oct, 2002
Posts: 54627
Posted: #171

https://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home

 

 

Wow.

 
Captain
Participation Meter
Joined: Jan, 2009
Posts: 5156
Posted: #172
Quote Originally Posted by TRAIN69:

Please describe the whole "mining" process. I dont get it.

 

denver



At a very fundamental level this video in the middle of the page explains mining.

https://www.bitcoinmining.com/

Basically is uses CPU hardware to "hash"

The Mining Algorithm is as follows:

  1. Gather a list of potential transactions known as a "block". This list of transactions comes from the peer-to-peer bitcoin network.
  2. Calculate a hash for a block of potential transactions along with a random number.
  3. If the hash is more than the currently set difficulty level, then you have mined that block. If not, start over from step 1. Any additions to the list of transactions from step 1 along with change in the random number from step 2 mean that there's a chance that the criterion will be met in the next go around.

What's a hash?

A hash is a function that converts data into a number within a certain range. The hash has the property that knowing it's output is essentially unpredictable (within the given range). The specific hash function used for bitcoin mining is SHA256 applied twice.

This is the basic concept that blows everyone away and makes it decentralized there is no one "behind" BTC rather everyone is behind BTC.

 
Captain
Participation Meter
Joined: Mar, 2009
Posts: 5068
Posted: #173
Quote Originally Posted by daytradernation:

to the mooonnnn alllliceeeeeeeeeee



 
Captain
Participation Meter
Joined: Jan, 2009
Posts: 5156
Posted: #174
Quote Originally Posted by TRAIN69:

https://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home

 

 

Wow.



Awesome!
 
 
Captain
Participation Meter
Joined: Mar, 2009
Posts: 5068
Posted: #175
$204.86
All Forums | General Discussion
About Us
Contact Us
Careers
Our Team
Brand
Testimonials
Betting Guides
Sportsbook Reviews
Sports Betting News
Podcasts
Responsible Gaming
Sports Betting
US Betting Sites
Canada Betting Sites
Canada Casinos
Best Betting Apps
Contests
Streak Survivor
King of Covers
Ultimate Race
Office Pools
The Covers community has
618,670
lifetime members worldwide
Covers 25 Years Logo Established in 1995,
Covers is the world
leader in sports
betting information.
Site Map Help Privacy Terms of Service youtube logo facebook logo twitter logo instagram logo linkedin logo google news logo
Covers is verified safe by: Evalon Logo GPWA Logo GDPR Logo GeoTrust Logo Evalon Logo
Copyright © 1995 - 2024 CS Media Limited All Rights Reserved.

If you choose to make use of any information on this website including online sports betting services from any websites that may be featured on this website, we strongly recommend that you carefully check your local laws before doing so.It is your sole responsibility to understand your local laws and observe them strictly.Covers does not provide any advice or guidance as to the legality of online sports betting or other online gambling activities within your jurisdiction and you are responsible for complying with laws that are applicable to you in your relevant locality.Covers disclaims all liability associated with your use of this website and use of any information contained on it.As a condition of using this website, you agree to hold the owner of this website harmless from any claims arising from your use of any services on any third party website that may be featured by Covers.