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Post by Deleted on Jan 15, 2017 9:44:33 GMT
Does anyone else use Bitcoin?
What wallet do you use and where do you source them? Is anyone farming Bitcoin?
I've been experimenting with a variety of methods, but not sure which is the best yet. Would be interested to hear other people's experiences.
Lawrence
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Post by Chris on Jan 15, 2017 12:54:54 GMT
No I don't but I'd like to. Not sure what I'd buy right enough....
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Post by MartinT on Jan 15, 2017 22:14:18 GMT
I tried for a bit (?) but the company I was using (Mountain something) had some scandal and collapsed. I gave up after that.
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Post by Chris on Jan 16, 2017 5:13:37 GMT
Cracks me up Bitcoin. All this talk of it being a quasi legal currency and you know who one of the biggest holders of Bitcoins are? The FBI. They pocketed LOADS when they brought Silk Road down.
Wonder if they could somehow,possibly be connected.....
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Post by MartinT on Jan 16, 2017 7:57:58 GMT
It was Mt. Gox. Here's the story. |
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Post by Deleted on Jan 16, 2017 10:16:34 GMT
I've been keeping an eye on Bitcoin developments for a while now. I was also put off by the collapse of Mt Gox but I'm confident enough to invest now. My approach is going to be to mainly use Bitcoin as a store of value, but with a potential to make some modest gains if the price continue its upwards march.
A monetary system which allows very cheap transfers of funds and isn't eroded by government actions (unlike fiat currencies) is very attractive to me but I'm aware there is a risk......
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Post by Deleted on Feb 2, 2017 17:48:25 GMT
Just a quick update. I invested a modest amount 19 days ago and have just checked its value. Currently up >15%. I realise it's relatively high risk, but that is quite a return.
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Post by MartinT on Feb 2, 2017 18:02:43 GMT
Have you tried mining Bitcoins? Takes a lot of processing power and probably costs more in electricity used than it's worth. |
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Post by Deleted on Feb 2, 2017 18:10:41 GMT
Have you tried mining Bitcoins? Takes a lot of processing power and probably costs more in electricity used than it's worth. It seems that only commercial operations make money now. |
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Post by MartinT on Feb 2, 2017 18:14:35 GMT
I really meant for fun, not to make anything worth a damn.
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Post by Deleted on Feb 2, 2017 19:02:23 GMT
I really meant for fun, not to make anything worth a damn. I've thought about it but you only earn fractions of a penny unless you invest in specialist processors, and believe it or not I have better things to do with my time and can make more money elsewhere. Some of the commercial operations are making millions per week mining, unfortunately I missed that boat  . |
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Post by Chris on Feb 5, 2017 8:38:24 GMT
Bit hacked off I didn't buy a few when I could have,the price fluctuated wildly - this was 3/4 years ago - but due to the increased social acceptability factor it seems to have settled now and mainly risen.
Good earner.
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Post by Deleted on Feb 10, 2017 18:30:50 GMT
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Post by Chris on Mar 3, 2017 21:56:31 GMT
1 bitcoins worth more than an ounce of gold now.
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Post by jandl100 on May 18, 2018 7:10:15 GMT
Have you tried mining Bitcoins? Takes a lot of processing power and probably costs more in electricity used than it's worth. Bitcoin will soon be using as much electricity as the whole country of Austria, which is 0.5% of global electricity use. It already uses as much as Ireland. Seems like madness to me. futurism.com/bitcoin-electricity-austria/ |
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Post by MartinT on May 18, 2018 8:46:59 GMT
8.2GW of power used to mine Bitcoins! I guess it does at least prove that blockchain is inherently resistant to modification and very hard to mine. That was the intent, after all.
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Post by MikeMusic on May 18, 2018 9:00:01 GMT
What a crazy world
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Post by Slinger on May 18, 2018 11:13:26 GMT
I saw an article on TV a while back about a guy, or a group of guys, who had a huge aircraft-hangar of a building with wall-to-wall processors, and while the electricity bill was in the millions(!) they kept it down because the building was sited in Iceland so they were able to open up the sides of the building to cool the machines rather than paying another huge amount for a refrigeration system. [EDIT] I've just found this in the Grauniad... Bitcoin’s price may be down more than 50% from its highs in December, but no one has told Iceland, where the cryptocurrency and its offspring are reshaping the economy. According to Johann Snorri Sigurbergsson, an employee of the energy company HS Orka, Icelandic cryptocurrency “mining” is likely to double its energy consumption to about 100 megawatts this year. That is more than households use in the nation of 340,000 people, according to the national energy authority... MORE |
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Post by MartinT on May 18, 2018 14:28:44 GMT
Johann Snorri Sigurbergsson ...related to Björk Guðmundsdóttir? |
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Post by Chris on May 18, 2018 17:54:28 GMT
A few shady companies have been using their websites for underhand mining,Starbucks for one.
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