The Bitcoin Insanity Continues — Prices Top $450

I think most of the people who are haters are the ones who haven't made any money off of BTC.

I screwed around with it for a few months and made $8k profit (after paying for equipment, etc.). I would never liquidate all my assets into BTC, but don't think that just because YOU didn't make any money someone can't make money off of it.
 
This thread is broken.
Clicking page 7 always takes me to page 6.
Viva le repeat
 
Some people here obviously dont know wtf they're talking about, btc is still new although years old. Seen a vine vid where a subway store is accepting bitcoin and tons of other ppl use it for things other than drugs. People post pics of different purchases over on the bitcoin subreddit. I Got 1 btc roughly a month ago at $125, sold it when it hit $600. It was fun and look forward to seeing it used more.
 
How long does it take to mine one bitcoin on a 7970 or above (on average)?
 
MasonD said:
How long does it take to mine one bitcoin on a 7970 or above (on average)?
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I wouldn't mine directly for bitcoin. I'd mine at someplace like Middlecoin.com where you can mine profitable scrypt coins and it converts it to BTC for you and pays out in BTC. But you're looking at 1 BTC every 130-150 days. I've gotten .25 BTC in about 5 weeks on my 7950 at middlecoin.
 
weuntouchable said:
It won't. There are committees meeting today to discuss the future of Bitcoin in the US. The fervent buying right now is because (some of this is speculative) China is trying to take control of Bitcoin and gain a majority of the Bitcoins that have been generated. The Chinese interest is believed to be a play on gaining future inroads in mineral rich Africa as well as to try and get a jump on a world currency that is not dollars.

The US Government has the power to shut down Bitcoin at any time by declaring it a currency. Its use to purchase illegal drugs and for money laundering have likely all ready made it a target.

The FBI is in possession of something like 200,000 bitcoins as a result of the Silk Road bust, so perhaps tax dollars are being spent to surge the bitcoin price up so that these coins can be liquidated for a huge profit.
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They might use it to infiltrate the new silk road (or similar types of sites). Seems likely that they'd set up fronts where they sell drugs to themselves, give themselves good reviews from lots of unique accounts and go from there.
 
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lol
 
That is fucking hilarious, but it would turn stupid if they went 2yrs. 10000000% increase!
 
weuntouchable said:
It won't. There are committees meeting today to discuss the future of Bitcoin in the US. The fervent buying right now is because (some of this is speculative) China is trying to take control of Bitcoin and gain a majority of the Bitcoins that have been generated. The Chinese interest is believed to be a play on gaining future inroads in mineral rich Africa as well as to try and get a jump on a world currency that is not dollars.

The US Government has the power to shut down Bitcoin at any time by declaring it a currency. Its use to purchase illegal drugs and for money laundering have likely all ready made it a target.

The FBI is in possession of something like 200,000 bitcoins as a result of the Silk Road bust, so perhaps tax dollars are being spent to surge the bitcoin price up so that these coins can be liquidated for a huge profit.
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The US government and it's Rothschild puppet masters can go fuck itself. I will continue to use Bitcoin regardless of what they think.
 
liquidate when it went north of 600, while i could have made a little bit more money i have no regrets cashing out of the bubble at a healthy profit. Either way it goes i don't care. Some people will yell it will go to 10k!!! but meh it could also go to $1.
 
edit: I'm still mining bitcoin using video cards for a super healthy profit ;)
 
osrk said:
edit: I'm still mining bitcoin using video cards for a super healthy profit ;)
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I wouldn't mine bitcoin direct. You do much better mining scrypt coins. Try middlecoin.com. It switches to the most profitable scrypt coin, converts to BTC, and deposits BTC into your wallet. I make ~$4-5 a day on a single 7950 at current exchange rates. ~$1-2 at lower rates.
 
kirbyrj said:
I wouldn't mine bitcoin direct. You do much better mining scrypt coins. Try middlecoin.com. It switches to the most profitable scrypt coin, converts to BTC, and deposits BTC into your wallet. I make ~$4-5 a day on a single 7950 at current exchange rates. ~$1-2 at lower rates.
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ya i use hashcows. been pretty happy, i get ~0.02 bitcoin/day with three 7950
 
kirbyrj said:
I wouldn't mine bitcoin direct. You do much better mining scrypt coins. Try middlecoin.com. It switches to the most profitable scrypt coin, converts to BTC, and deposits BTC into your wallet. I make ~$4-5 a day on a single 7950 at current exchange rates. ~$1-2 at lower rates.
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fine id you dont pay for your own power if you do your losing money at <3 bucks a day
 
The only thing I can say is, I mined bitcoin when it was at $5.00 a coin. I mined 80 coins, and forgot about them. I am now freaking rich, and will be able to pay off my 30 year mortgage soon LOL.
 
awesomedad25 said:
The only thing I can say is, I mined bitcoin when it was at $5.00 a coin. I mined 80 coins, and forgot about them. I am now freaking rich, and will be able to pay off my 30 year mortgage soon LOL.
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SELL! SELL!! SELL!!! That said, I heard that it can be expensive to convert Bitcoins to cash. I have no experience with them, so I don't know what the fee is.
 
awesomedad25 said:
The only thing I can say is, I mined bitcoin when it was at $5.00 a coin. I mined 80 coins, and forgot about them. I am now freaking rich, and will be able to pay off my 30 year mortgage soon LOL.
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About 64,000... a good payday for sure but don't forget about Uncle Sam's cut...
 
canna said:
About 64,000... a good payday for sure but don't forget about Uncle Sam's cut...
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For that kind of untraceable investment, I would seriously consider taking a Caribbean vacation just to make a cash withdrawal. Or maybe Ireland, that's where Apple and Google like to launder their profits isn't it?
 
Kueller said:
For that kind of untraceable investment, I would seriously consider taking a Caribbean vacation just to make a cash withdrawal. Or maybe Ireland, that's where Apple and Google like to launder their profits isn't it?
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Who is to say that it is a capital gain? Just because you have a payment of $X.XX from a bitcoin sale doesn't mean you didn't spend money mining it and purchasing hardware to mine it.
 
kirbyrj said:
I wouldn't mine bitcoin direct. You do much better mining scrypt coins. Try middlecoin.com. It switches to the most profitable scrypt coin, converts to BTC, and deposits BTC into your wallet. I make ~$4-5 a day on a single 7950 at current exchange rates. ~$1-2 at lower rates.
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aaaannd how much electricity are you consuming per day to power your computer and GPU to mine that much per day?
 
Kueller said:
For that kind of untraceable investment, I would seriously consider taking a Caribbean vacation just to make a cash withdrawal. Or maybe Ireland, that's where Apple and Google like to launder their profits isn't it?
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or invest in a precious metal :D or silver/gold
 
Kueller said:
For that kind of untraceable investment, I would seriously consider taking a Caribbean vacation just to make a cash withdrawal. Or maybe Ireland, that's where Apple and Google like to launder their profits isn't it?
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Netherlands might be a good place.
 
Cerulean said:
aaaannd how much electricity are you consuming per day to power your computer and GPU to mine that much per day?
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$0.58 @ $0.08/KW

Right now, that's around $12/day profit mining LTC on a single 7950. Soooo...I don't understand your point.
 
I tired to mine litecoins a few days ago, I have just a single 7950 but figured any profit would be nice. I was getting a 40-50% stale rate. I would really like to get into this and see how it goes but I'm totally lost.
 
oMek said:
I tired to mine litecoins a few days ago, I have just a single 7950 but figured any profit would be nice. I was getting a 40-50% stale rate. I would really like to get into this and see how it goes but I'm totally lost.
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Depends on where you mine and the setup. Each time I set it up it's different on each computer. Kind of a pain to find the perfect setup of memory speed/clockspeed and settings to get the best hash rate without HW errors/stales.

You just have to keep playing around until you find the best setup for your card.
 
oMek said:
I tired to mine litecoins a few days ago, I have just a single 7950 but figured any profit would be nice. I was getting a 40-50% stale rate. I would really like to get into this and see how it goes but I'm totally lost.
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What pool are you using and do you have your miner configured correctly? Use a reliable pool, and make sure you're using stratum, and you should be getting barely any stales.
 
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