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Bitcoins for gambling....

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Captain
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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
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Posted: #152
Winklevoss twins own 1% of all BitCoins valued at $1.3 Billion
 
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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.
 
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Posted: #154
Broadcast .com didn't survive though
Mark Cuban got out (sold)and i got out too late
 
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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
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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
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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.
 
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Posted: #158
Steve Forbes weights in -> https://www.forbes.com/sites/steveforbes/2013/04/16/bitcoin-whatever-it-is-its-not-money/
 
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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
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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
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Posted: #161

108 today.

Roller coaster.

Support your local animal shelter. I am on twitter.
 
Rookie
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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.
 
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Posted: #163
https://sports.yahoo.com/news/bitcoin-%E2%80%93-the-new-way-to-bet-online--161411695.html
 
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Posted: #164
115$

just before the bitcoin conference
 
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Posted: #165
https://www.cbc.ca/news/business/world-s-first-bitcoin-atm-goes-live-in-vancouver-tuesday-1.2251820
 
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Posted: #166
good investment for some

https://www.theguardian.com/technology/2013/oct/29/bitcoin-forgotten-currency-norway-oslo-home
 
Captain
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Posted: #167
$201.33     
 
Banned
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Posted: #168
to the mooonnnn alllliceeeeeeeeeee
 
Captain
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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
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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
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Posted: #171

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

 

 

Wow.

 
Captain
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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
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Posted: #173
Quote Originally Posted by daytradernation:

to the mooonnnn alllliceeeeeeeeeee



 
Captain
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Posted: #174
Quote Originally Posted by TRAIN69:

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

 

 

Wow.



Awesome!
 
 
Captain
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Posted: #175
$204.86
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