crypto

[shoshi]

Anyone invest in crypto currency? Some say you can make money in it others tell me it is shit.

 

[progressive hunter]

Anyone invest in crypto currency? Some say you can make money in it others tell me it is shit.

if you would have invested 1000 in bitcoin when it started you would be close to a billionaire right now,,

 

[Mikeoxenormous]

if you would have invested 1000 in bitcoin when it started you would be close to a billionaire right now,,

If you would of bought it at $50,000 you would of lost $20,000 for each bit.

 

[progressive hunter]

If you would of bought it at $50,000 you would of lost $20,000 for each bit.

as it stands now??

 

[Winston]

My bitcoin story.hm

I discovered bitcoin when it was around eight dollars. I wanted some bitcoins, and my son, who was in the summer before he started college, wanted some too. But back then, well buying them was not really an option. The only way to get any was to mine them. So that is what we decided to do. We built a computer specifically to mine bitcoins. It was a beast, at least for the time, and we used the graphics card to run the algorithm. The computer ran so hot that it was not even in a case, just a frame holding the components and we had a box fan next to it to keep it cool. It costs us about two dollars a day in power just to run. But that summer my son made more money selling bitcoins he mined than if he would have had a part time job.

Hindsight is 20/20. Had he not sold any he would be looking at about ten million dollars today, but then, that was eight years ago. The market has been up and down since then. It is a gamble, kind of like a roulette wheel. And although he dabbles in it, and has made some money, it is not what it was back then. For me, it is not really an option. Too risky, not secure enough, and it could very well evaporate to nothing. Honestly, it reminds me of the whole tulip story, and I believe at some point many people are going to lose their shirts. Some yahoos are actually borrowing money to buy crypto. I would rather bet on 22 on the roulette wheel at Vegas.

 

[Mikeoxenormous]

as it stands now??

That was a couple of months ago. But my question is, if i started a andaronjimcoin, and put it up for $10 a coin. in a few years i could be a billionaire, right?

 

[progressive hunter]

That was a couple of months ago. But my question is, if i started a andaronjimcoin, and put it up for $10 a coin. in a few years i could be a billionaire, right?

I have no idea,, who are you and whats your plan??

it takes a lot more than just a desire to do it,,

 

[Mikeoxenormous]

I have no idea,, who are you and whats your plan??

it takes a lot more than just a desire to do it,,

so some guy decided to put some bits together and then sucker a bunch of idiots into inflating his bits, that is just like someone printing dollars on a machine and then doing a George Floyd at a grocery store. If you have to have fiat currencies to back the bits, then it doesnt do anyone any good, now does it?

'$300m in cryptocurrency' accidentally lost forever due to bug

User mistakenly takes control of hundreds of wallets containing cryptocurrency Ether, destroying them in a panic while trying to give them back

www.theguardian.com

 

[progressive hunter]

so some guy decided to put some bits together and then sucker a bunch of idiots into inflating his bits, that is just like someone printing dollars on a machine and then doing a George Floyd at a grocery store. If you have to have fiat currencies to back the bits, then it doesnt do anyone any good, now does it?

'$300m in cryptocurrency' accidentally lost forever due to bug

User mistakenly takes control of hundreds of wallets containing cryptocurrency Ether, destroying them in a panic while trying to give them back

www.theguardian.com

sorry I'm not an expert on it,, feel free to use google for more detailed info,,

 

[Manonthestreet]

My bitcoin story.hm

I discovered bitcoin when it was around eight dollars. I wanted some bitcoins, and my son, who was in the summer before he started college, wanted some too. But back then, well buying them was not really an option. The only way to get any was to mine them. So that is what we decided to do. We built a computer specifically to mine bitcoins. It was a beast, at least for the time, and we used the graphics card to run the algorithm. The computer ran so hot that it was not even in a case, just a frame holding the components and we had a box fan next to it to keep it cool. It costs us about two dollars a day in power just to run. But that summer my son made more money selling bitcoins he mined than if he would have had a part time job.

Hindsight is 20/20. Had he not sold any he would be looking at about ten million dollars today, but then, that was eight years ago. The market has been up and down since then. It is a gamble, kind of like a roulette wheel. And although he dabbles in it, and has made some money, it is not what it was back then. For me, it is not really an option. Too risky, not secure enough, and it could very well evaporate to nothing. Honestly, it reminds me of the whole tulip story, and I believe at some point many people are going to lose their shirts. Some yahoos are actually borrowing money to buy crypto. I would rather bet on 22 on the roulette wheel at Vegas.

2 bucks a day,,,,,and how many days to produce a bit

 

[Winston]

2 bucks a day,,,,,and how many days to produce a bit

Back then you mined a "block", and at the time, that was fifty bit coins. A block every few days.

 

[Rogue AI]

Not sure if this helps, but I found it interesting.

Confusion reigns after China slams door on crypto

For firms that invested heavily in cryptocurrencies and mining gear, the options for cashing in may be limited.

www.aljazeera.com

 

[skews13]

if you would have invested 1000 in bitcoin when it started you would be close to a billionaire right now,,

If you would have a vested $25 a week, every week from 2018-2021 it would be worth $48,352

 

[skews13]

Anyone invest in crypto currency? Some say you can make money in it others tell me it is shit.

I am vested in 10 different coins. They all are going up, some more than others as in any investment. Buy fractional shares of Bitcoin
Etherum
Avalanche
Polygon
Cardano
Solana
Algorand
Chainlink
Polkadot
Sushiswap

These are all money makers. Be careful of buying “shitcoins” just because they’re cheap. Use dollar cost averaging as you invest in them, do your research.

 

[MarathonMike]

These are all money makers.

Congrats but I hope you are not 100% invested in crypto. My fanduel betting account is up 20% and I know why it went up. Do you know why your coins went up?

 

[skews13]

ongrats but I hope you are not 100% invested in crypto. My fanduel betting account is up 20% and I know why it went up. Do you know why your coins went up?

10K in crypto. Majority in 401K, and pension fund.

My crypto went up because of due diligence. It has a 12 year record of gains.

How does your 12 year record on gambling on games look?

 

[MarathonMike]

How does your 12 year record on gambling on games look?

Glad to hear you have a sensible portfolio. What data do you look at to do your "due diligence" on crypto?

 

[skews13]

Glad to hear you have a sensible portfolio. What data do you look at to do your "due diligence" on crypto?

The Daily Hodl

Cointelegraph

Coinbase