Quick money like that is a Ponzi scheme. Warren Buffet like to say that his favorite holding period for stock is "forever". He values stock based upon the dividends it pays, not the value bubbles created by people who overvalue shyt. I suggest you consider doing the same.
Official CryptoCurrency Thread (Bitcoin, Litecoin, Ethereum & More)
- Thread starter irishfury
- Start date
A "truly free market" is for sharks, B. Sure you want that?
heisenburrr
Have Fun Staying Poor
Do you know what a Ponzi scheme is
Buffet has said himself he doesn't understand how to value tech stock. Bitcoin is a technology. Why should I hear his opinion
Bitcoin is currency... Do you make a dividend? That's normally a requirement of a stock.
Do you know what a Ponzi scheme is
Buffet has said himself he doesn't understand how to value tech stock. Bitcoin is a technology. Why should I hear his opinion
heisenburrr
Have Fun Staying Poor
Bitcoin is currency, commodity, tech stock IPO.
Your failure is in trying to compare its economical properties to traditional asset classes
Your failure is in not seeing past your nose...
heisenburrr
Have Fun Staying Poor
I'm ready to hear ya. What's wrong with Bitcoin
I'm not saying that there is anything wrong with Bitcoin or any other cryptocurrency. I'm simply saying that making money off of currency itself is not a good strategy in the long run. Nor is buying real estate or stocks because you think their value will increase in value. There are sharks in the waters that can make far bigger transactions than you ever will in your wildest dreams that will shape the market. You will be at whim to their desire. Either get insider trading secrets, or GTFO and stick to buying things that show verifiable value, which is dividend in the case of stocks or rental value in the case of real estate (although, I'm not sure you want to put so much effort into real estate anyway). Or simply buy something you will get use out of, like a primary residence.
heisenburrr
Have Fun Staying Poor
unless it is deflationary
but there are cats who make real money just on currency. more than 15 yrs ago
i read an article on forbes or similar mag of a guy who bill gates employees just to make money trading currencies. the guy was in his 20s back then. made hundreds of millions of dollars doing that.It can be done. Anything can be done. It's just not a good strategy.but there are cats who make real money just on currency. more than 15 yrs ago
Just a question for those that know more about cryptocurrency: What if someone were to invest heavily in the infastructure to mine for bitcoins? Would they be very successful at this point, after the initial appreciation?
Just to throw ballpark numbers out there....
at $100,000 worth of hardware?
at $500,000 worth of hardware?
at $1,000,000 worth of hardware?
at $10,000,000 worth of hardware?
Because if so, this seems like an inevitable result. And if this is so, again for those who know more, wouldn't that just make these hardware hogs the de facto banks?
Just to throw ballpark numbers out there....
at $100,000 worth of hardware?
at $500,000 worth of hardware?
at $1,000,000 worth of hardware?
at $10,000,000 worth of hardware?
Because if so, this seems like an inevitable result. And if this is so, again for those who know more, wouldn't that just make these hardware hogs the de facto banks?
Investing 100K worth in hardware?
Listen, if you want to get heavy into this shyt then consider a 20K budget max and mine ALTCOINS (DOGE mostly) and convert to a split of mostly bitcoin/litecoin and maybe 1-2 other altcoins that you think have potential.
Do NOT mine Bitcoin unless you are trying to build a NASA like room with a bunch of ASICS out there...I am not sure that's a smart move either though.
So let's say you grab four 280x's and run it 24/7...you are looking at about $279 dollars profit after or about 0.68 bitcoin per month after electric charges. Four 280x's will run you about $1,600
In othernews, lately LTC seems to not follow BTC's trend anymore. Looks like it's freeing itself from his big bro or maybe people trading BTC for LTC as the latter is going strong with some good news the past few days.
Could be temporary obviously, but it's good to see what is a good and serious (not like all this new altcoins) alternative to BTC possibly rising.
I got 5 but I will mine more
Could be temporary obviously, but it's good to see what is a good and serious (not like all this new altcoins) alternative to BTC possibly rising.
I got 5 but I will mine more
jaydolf spitler
Superstar
So my finance teacher is making me write a paper on this and he made us all read this article.
http://bear.warrington.ufl.edu/Banko/TP2/Andreessen.pdf
:
Best explanation of it i've seen thus far. I like the comparisons of it to the internet when it was first invented, i can see similar reactions to such disruptive technology like that.
Also the bit about it being pretty much like having regular money in the real world where you don't have to input personal information to get a product or pay someone made it much clearer for me.
Can't say I'm against it, i'm just gonna have to adjust if it really catches on
The potential impact is wild:
No credit card fraud
No bank fees
Public Payments (this dude held up a sign with a QR code at a sporting event and got $25,000 worth of bitcoin) would be great for protest movements
Could help newspaper industry
Reduce spam
Avoid problems like the stolen identity information fiasco that happened at Target
http://bear.warrington.ufl.edu/Banko/TP2/Andreessen.pdf
:
Best explanation of it i've seen thus far. I like the comparisons of it to the internet when it was first invented, i can see similar reactions to such disruptive technology like that.
Also the bit about it being pretty much like having regular money in the real world where you don't have to input personal information to get a product or pay someone made it much clearer for me.
Can't say I'm against it, i'm just gonna have to adjust if it really catches on
The potential impact is wild:
No credit card fraud
No bank fees
Public Payments (this dude held up a sign with a QR code at a sporting event and got $25,000 worth of bitcoin) would be great for protest movements
Could help newspaper industry
Reduce spam
Avoid problems like the stolen identity information fiasco that happened at Target
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