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2013-04-01 10:49 6319618 Anonymous (tumblr_lr4frfXsic1qfrvjzo1_500.jpg 500x348 121kB)
Does /r9k/ invest in bitcoins? I was very fortunate to buy 5 bitcoins back when they were at $14 each.

0 min later 6319628 Anonymous
>>6319618 WOW BRO YOU'RE RICH

1 min later 6319638 Anonymous
>tfw sold over 100 bitcoins for $5 each

3 min later 6319671 Anonymous
I had the oportunity to go into buttcoin mining but for whatever reason opted out of it. I seriously want to invent a time machine and smash my younger self's head into the keyboard.

5 min later 6319692 Isabella Fuckingbanks
Stop fucking talking about bitcoins, jesus christ.

6 min later 6319716 Anonymous
>>6319692 Go fuck more banks.

23 min later 6319893 Anonymous
I invest in fake commodities/currencies all of the time. Srsly. It how you get rich.

3 hours later 6322872 Anonymous
>>6319893 >dat sarcasm while I just sold my 10 btc bought at $11 a piece now at $100 a piece stay pleb/uneducated fagboy

4 hours later 6323066 Anonymous
im planning in buying a few when/if the price drops down to a reasonable price. whats the current value of one btc in usd?

4 hours later 6323083 Anonymous
Can you still mine buttcoins?

4 hours later 6323157 Anonymous
I invest but not in bitcoins >sandy hook >people go nuts over 30 round clips >go to gun show >buy as many 30 round clips at $28 per >already had offer of $100 for one clip >going back next gun show and buying more in varying capacities or maybe I'll sell some clips and buy assault rifles all depends.

4 hours later 6323193 Anonymous
>>6323083 Yeah but you need a powerful pc to mine a good amount. An average PC will get you 1/8 of a bitcoin a day or something, maybe 6 bitcoins a month

4 hours later 6323209 Anonymous
>>6323157 People are trying to do that everywhere though. My local walmart started locking up ammo in the back cause guys were rummaging through freight pallets trying to buy the ammo before anybody else did

4 hours later 6323218 Anonymous
>>6323193 It was a powerful PC back in the day. What's the most important component? CPU, GPU, ram?

4 hours later 6323234 Anonymous
>>6323066 103$ youve missed the boat

4 hours later 6323235 Anonymous
>>6323209 the ammo is a different issue than the 30 round magazine - they can't make ammo illegal and once a 30 round clip is illegal it's not illegal to sell, they're just no longer sold. So an AR15 will still be legal to sell after a ban but the price will increase exponentially. believe me I didn't think it'd happen at first but as soon as I posted a picture on facebook someone immediately sent me an offer of $100.

4 hours later 6323241 Anonymous
>>6323218 Knowing how to do t without getting caught.

4 hours later 6323255 Anonymous
>>6323157 >clips based literally liar

4 hours later 6323262 Anonymous (1325707059371.jpg 350x300 56kB)
>>6323157 >30 round clips >clips >CLIPS

4 hours later 6323276 Anonymous
>>6323241 THIS IS THE BUTTCOIN POLICE, WE HEARD YOU WERE MINING BUTTCOINS COME OUT WITH YOUR HANDS UP

4 hours later 6323330 Anonymous
>>6323193 What are you talking about? You'd be lucky to mine one bitcoin a month on a non-dedicated machine.

4 hours later 6323342 Anonymous
Did it somehow become harder to mine buttcoins or something? It seems like people were finding a lot more when this thing first started

4 hours later 6323347 Anonymous
>>6319618 >back when they were $14 each So... january?

4 hours later 6323365 Anonymous
>>6323241 Its more along the lines of mining bitcoin is exposing yourself to a group of extremely computer literate assholes who will hack your shit and steal your coins.

4 hours later 6323377 Anonymous
I remember this being a huge thing with my friends like six months ago. They broke even with the purchase of the computers.

4 hours later 6323381 chesnut
>>6323276 Yeah arnt they illegal... and just being on the sites you need them for is a felony?

4 hours later 6323402 Anonymous
>>6323377 Well, they got a free computer anyways

4 hours later 6323403 Anonymous
Oldfag here guys, Can I make butt coins by sticking them up my ass? Or do they need to be in a girls ass?

4 hours later 6323413 Anonymous (ieNK0.png 824x258 9kB)
Buttcoinblox

4 hours later 6323427 Anonymous
Wait so I can make hundreds of dollars for doing nothing?

4 hours later 6323435 Anonymous
>>6323413 >buys 4 computers >can't speed the extra $50 for proper cooling

4 hours later 6323446 Anonymous
>>6323427 Only if you already have a nice computer and are tech saavy i.e. if you have a Macbook and can make a killer video montage of your spring break adventures, then no, no you cannot mine buttcoins

4 hours later 6323453 Anonymous
>>6323435 >in soviet russia it doesn't cost 50$ to open window >window pays 50$ to open you

4 hours later 6323460 Anonymous
>>6323262 want to complain about the spring loading? clips and magazines are interchangeable unless you're on /k/

4 hours later 6323465 Anonymous (btc.png 447x146 9kB)
They're a fucking awesome concept because fuck authority. They won't become even remotely usable in any legit business till they're stable though. Pic related, my stats on my ewallet.

4 hours later 6323466 Anonymous
>>6323427 You could say that if you're a computer engineer with a few nice machines and the know how. Otherwise it's obviously gonna take some learning and some capital investment.

4 hours later 6323468 Anonymous
>>6323427 nope, mining bitcoins has become too advanced at this point, to think about making money through mining you need to invest the startup capital into a state of the art mining rig (ASIC's are just new to market and offer the best ROI) and even then as they become the new market standard your mining will become less profitable, barring any increase in the value of bitcoin itself (unlikely) the difficulty level associated with mining rises to counteract the increase in computing power of the network. There's still profit to be had, but it's not as easy as it would've been 3 years ago personally, when my semester is done in about a month i'm going to pay more serious attention to the price of btc and perhaps transfer money to an exchange and wait for a significant dip to buy in. I'm fully aware this could be a bubble and I'm just biding my time right now (although it's hard to sit idle when I've seen the price go from 49-103 just this fucking month)

4 hours later 6323472 Anonymous
>>6323435 He should have made one giant liquid nitrogen cooling system for his setup. He'd be the envy of /g/

4 hours later 6323480 Anonymous
>>6323472 Liquid nitrogen isn't economical. As it has a tendency to become... nitrogen.

4 hours later 6323501 Anonymous
>>6323468 >wait for a significant dip to buy in That's not gonna happen unless there's a serious threat to bitcoin itself via either some government regulation or massive security threat. In either case are you still going to want to invest?

4 hours later 6323518 Anonymous
It seems like you'd be spending an awful lot on electricity to run 4 rigs with OC'd 5850's at full blast all day eerday. Are you kids factoring that cost in? inb4 you all live with mom

4 hours later 6323534 Anonymous
>>6319618 No, I only have mild autism.

4 hours later 6323536 ~██Cute Tomato██~
Nope, I'm waiting for the crash and then buy, wait a few months and then sell. Also check Litecoin

4 hours later 6323538 Anonymous (Squirtle.gif 326x265 15kB)
>>6323518 Are you factoring in the notion that I don't have a massive botnet of over 5000 computers all devoting 5% of full blast to my mining operation, and I only pay for the electricity for one of them.

4 hours later 6323554 Anonymous
>>6323538 >not having a massive botnet of over 5000 computers shiggy diggy doo

5 hours later 6323567 Anonymous
>>6323538 do you even chrome?

5 hours later 6323580 Anonymous
This shit is deprecated.

5 hours later 6323594 Anonymous
>>6323536 Using severely deprecated software >>6323567 Using the botnet

5 hours later 6323628 Anonymous
So /g/ is of the opinion that nvidya sucks for mining coins. good thing I got a 6850! GON BE RICH

5 hours later 6323677 Anonymous
>>6323518 I don't pay utilities in my apartment, fuckface.

5 hours later 6323697 Anonymous
>>6323501 not necessarily, couple of days ago someone dumped a ton of btc and price dropped from 95-75 in a matter of hours. Volatility like that is what makes bitcoin so attractive for daytrading, especially with the fact that the exchanges dont close like traditional markets

5 hours later 6323807 Anonymous
I currently have 0.00753072 BTC in my Mt gox account. Gonna be rich. You'll see.

5 hours later 6323824 Anonymous
>>6323501 Steady, fast growth means bubble. Bubbles burst. Its happened before, it will happen again.

5 hours later 6323832 Anonymous
I bought/mined 1211 coins when they were around $7 Not sure what I should do now, the urge to sell is really big.

5 hours later 6323851 Anonymous
i was very fortunate to buy 400 when they were $14

5 hours later 6323910 Anonymous
>>6323218 GPU is what's important, though not so much anymore. Asics are supposed to be coming out soon from Butterfly Labs and Avalon. They're extremely expensive and will cause such a raise in difficulty that it'll be difficult to compete even with the best GPU.

5 hours later 6323931 Anonymous
So the trick is to mine litecoins while you still can, hold them until they appreciate and then SELL FOR MILLIONS

5 hours later 6323941 Anonymous
>>6323832 I'd and invest in mutual funds. I wanna believe, but...damn.

5 hours later 6323944 Anonymous
>>6323536 >Litecoin It broke a dollar already man. People are realizing that bitcoin is soon only going to be for the dedicated so they're moving to LTC. Wish I could get in on the action but I only have a laptop right now, so no mining for me.

5 hours later 6323995 Anonymous
>>6323944 Can a laptop really not get anywhere? I don't care if I'm making barely anything I'd like to try even though I just have a laptop.

5 hours later 6324004 Anonymous
What are the major hurdles to overcome when mining these things? I don't have to pay for electricity where I live and I'm wondering if this is all worth the trouble (I'm not sure how much trouble it is).

5 hours later 6324013 Anonymous
>>6323995 You're much more likely to burn out the motherboard from what I've heard. Laptops don't have efficient cooling systems.

5 hours later 6324036 Machoke (1350873694851.jpg 720x720 48kB)
>tfw wanted to figure out buttcoins so i could get drugs off of silk road early last year >shit seemed too complicated so i put it off >and put it off >and put it off >see this thread >mfw oh.....oh god

5 hours later 6324039 Anonymous
>>6324004 Probably the biggest hurdle is cost. From what I've heard the new ASIC miners have been pre-ordered for $30k USD. So it's either go big, or go home.

5 hours later 6324077 Anonymous (1310674900999.jpg 327x388 11kB)
>>6324036 >btc complicated

5 hours later 6324087 Anonymous
>>6324036 There's a large thread on /g/ about it right now as well. However a lot of it is full of /g/ lingo

5 hours later 6324091 Anonymous
BitCoins are very unstable, they rise and fall much faster than any other currency in the world today. I'm not sure if I want to get into it or not. If I did, though, I'd build a supercooled computer dedicated to mining first. That would be the best way to do it. Run it 24/7, always at a nice chilly temperature.

5 hours later 6324105 Anonymous
>>6324091 Desktop hardware is obsolete for bitcoin mining. You'd want to get into litecoin mining.

5 hours later 6324106 Anonymous
>>6323995 Don't do it on a laptop. Computers turn electricity into heat, and a miner will run your computer at very high capacity, creating a lot more heat. You'll be buying a new laptop soon for no real return, since you won't be able to mine enough on a low power mobile GPU

5 hours later 6324113 Anonymous (cats n guns.jpg 300x225 43kB)
>be regular user of bitcoins >have around 150 btc >bought them all for less than 10 bucks >tfw rich as fuck who knew shit would be so cash

5 hours later 6324120 Anonymous
>>6324039 I was just going to do a bit on the side. Like when I'm not at home on my computer (which is quite often) I could be doing something productive with it.

5 hours later 6324170 Anonymous
>>6324120 Your home computer would spend more in electricity than you would earn in BTC because of the difficulty level.

5 hours later 6324237 Anonymous
>>6324120 >>6324170 What this guy said. The difficulty will skyrocket after the ASICs are released. If you don't pay for electricity costs at all, you might make one BTC a month, at most, though probably much less, and that's if you ran it 24/7.

5 hours later 6324240 Anonymous
>>6324170 I don't pay for electricity though. That's why I am interested.

5 hours later 6324256 Anonymous
>>6324237 Sounds like I'm too late. Should I try with litecoins? I don't really have much to lose I suppose.

5 hours later 6324259 Anonymous
>>6324240 What's your GPU? And as mentioned above, if you have a laptop, don't even bother

6 hours later 6324313 Anonymous
>>6324256 I'd definitely consider litecoins if I were you. They currently utilize CPU and GPU, as opposed to just GPU. This is just a personal prediction, but with more and more people realizing how difficult bitcoin mining will be, they will switch to litecoin. Heck, about a month or two ago, it was about $.50 USD, now it's $1.22 USD. Neither of them are 100% secure market-wise but Litecoin is probably a safer bet.

6 hours later 6324324 Anonymous
>>6324259 HD 4850. Probably too old to do anything useful, right?

6 hours later 6324332 Anonymous
>>6324324 You can mine LTC with it. Even CPU mining still nets you some LTC at this point.

6 hours later 6324339 Anonymous
Can someone explain Bitcoin to me? What is mining? Why is Bitcoin even for? Why is it worth so much more now?

6 hours later 6324346 Anonymous
Wait, why the fuck can't you mine buttcoins with your CPU? It's just a program, so why isn't the CPU better for this?

6 hours later 6324378 Anonymous
What the hell is a bitcoin?

6 hours later 6324379 Anonymous
Okay, I'm getting fucking pissed off about how many steps it looks like I'm going to have to put my money through to buy litecoins.

6 hours later 6324388 Anonymous
>>6324378 What is google? laksdfsdfiiii

6 hours later 6324527 Anonymous
>>6323066 they won't ever have such a dramatic increase in price again

6 hours later 6324598 Anonymous
>mfw I mined Bitcoins for a month this January >used laptop, kept it in the fucking freezer to avoid overheating >mined .08 bitcoins Kinda cool process, but it's worthless for the average computer owner to try to mine

6 hours later 6324626 Anonymous
Can someone walk me, a retard, through the process of turning money into litecoins? I don't understand why these exchange websites can't just accept fucking debit cards.

6 hours later 6324669 Anonymous
>>6324626 Debit cards online are ran as credit cards which can be a reversed transaction. You can't reverse a BTC/LTC transaction so it leaves room for fraud.

6 hours later 6324681 Anonymous
Litecoin is going no where. All the chumps that missed the bitcoin boat want to invest in litecoin in hopes of getting rich. I bought a ton of bitcoins when they were 7 cents each, they're about $100 now.

6 hours later 6324703 Anonymous
>>6324669 So I'm going to have to funnel my cash through three different sites to buy anything? Because that's what it's looking like.

6 hours later 6324805 Anonymous
I've looked up a bit of this on google now, I remember 2 years ago when people where practically giving them out for free. It reminds me a bit like pyrite on Spice and Wolf. Should I consider buying after this bubble collapses? How far will it fall? Are you guys now selling them at 100$ or going to wait longer?

6 hours later 6324812 Anonymous
wait, so how do i start mining lightcoin and where do i go to buy it? i already have a decent rig

6 hours later 6324826 Anonymous
>>6324812 >>>/g/32718415 read that

6 hours later 6324853 Anonymous
>>6324681 It has faster confirmations, useful for legitimate businesses. >>6324703 Probably. >>6324805 I don't think we'll see another huge crash. The last one was prompted by Mt Gox being hacked.

6 hours later 6324886 Anonymous
Let's say I have access to around ~100 computers to which I can do pretty much whatever How would I go about mass-mining? How does it work? What is there to be made?

6 hours later 6324897 Anonymous
>>6324886 It depends what kind of computers and whether or not you could cool them properly

6 hours later 6324913 Anonymous
>>6324897 They all have like 2.33 Ghz processors Could you go into a bit more detail as to how I would do this?

6 hours later 6324938 Anonymous
>>6324913 You could mine a few litecoins it seems but it'd be slow going as I imagine these are office type machines with no real GPU to speak of

6 hours later 6325020 Anonymous
50 cents turned into 8 dollars in my sr account. Bad timing on spending all my money on being homeless and traveling the country.

6 hours later 6325030 Anonymous
Do the prices of things on SR fluctuate accordingly? I'd think so, but I have no idea.

6 hours later 6325033 Anonymous
>>6324853 >I don't think we'll see another huge crash. The last one was prompted by Mt Gox being hacked. I'm not going to fall for your pump and dump. :)

6 hours later 6325042 Anonymous
>>6324913 You can mine in a pool. googleffs

6 hours later 6325054 Anonymous
>>6325033 Hah. I was serious though, I only have like 7BTC right now. Sold at $70 :/

6 hours later 6325079 Anonymous
>>6319716 This was clever. Tripfags should be shot on sight.

6 hours later 6325090 Anonymous
>>6325030 si hombre

6 hours later 6325098 Anonymous
>>6325054 I think that is a smart choice though, I'd feel a bit dumb if they went that high and I didn't sell myself. If I could understand how to make money off something going down, like short selling I would want to be doing that here I think.

7 hours later 6325163 Anonymous
>>6325098 Still, if I had held on I would have $3000 more dollars. I'm not upset, made $3500 as it is but still... could have had more.

7 hours later 6325167 Anonymous
So, I'm going to miss out on all of this because of how I'm too dumb to wrap my head around throwing my money in the right places.

7 hours later 6325334 Anonymous
>>6325167 If you're talking about bitcoins, the opportunity was 2 years ago.

8 hours later 6326093 Anonymous
>>6324853 >I don't think we'll see another huge crash. No way! BTC is gonna climb for etermity! you're a retard

8 hours later 6326104 Anonymous
>>6324886 don't fuck over your school, kid

8 hours later 6326195 Anonymous
>>6323697 mtgox is regularly trading 10k+ coins with no effect on the market looking at my carts you are talking out you ass sir

8 hours later 6326310 Anonymous
>>6324805 >Should I consider buying after this bubble collapses? maybe >How far will it fall? $0-$10

9 hours later 6326920 Anonymous
>>6324681 >I bought a ton of bitcoins when they were 7 cents each, they're about $100 now. Jesus man. How many?

12 hours later 6328421 Anonymous
bump because I hope it crashes soon and I can save the history of an entire discussion from one side of the bubble to the other. they are at 105$ now

12 hours later 6328441 Isabella Fuckingbanks
>>6319692 i love the penis in, out and around every orifice of my body. i love to have all of my boyfriends ejaculate onto my face while i smoke weed and meditate it really enlightens my crown chakra. you can learn more about me and what i do at 420chan

13 hours later 6328492 Anonymous
>>6326195 He's talking about the spike around the drop last week. Mt.Gox trades massive amounts more than it usually does. Basically, someone dumped about $400K which started a fall, then they probably bought it back at like $300k and just waited for the price to bounce back http://bitcoincharts.com/charts/mtg oxUSD#rg1zczsg2013-03-29zeg2013-03- 30ztgSzm1g10zm2g25zv The short term price of bitcoin is very much controlled by people who have a lot of assets, if you believe anything else you're stupid.

13 hours later 6328502 Anonymous
With the boom in Bitcoin, silver, Ford stocks, Google stock, and Intel stocks over the last very few years, I've begun looking into stock trading. Very fascinating business. Though I feel I must save up more than the two grand I have at the moment. For now, I'll just ride the declining price of Alloyed Tritanium Bars in EVE Online until it starts to go around. Then I'll put my entire (virtual) fortune into them.

13 hours later 6328508 Anonymous
I spent all of my bitcoins on dead sparrows and hair, the former to be stuffed with the latter and mailed to resentful goons all over the continent. Stupid investment? Maybe, but the sheer joy has added years to my life.

13 hours later 6328518 Anonymous
>>6328508 Nice. So r9k how do I short sell or "put option"

13 hours later 6328522 Anonymous (stawks.png 1216x180 18kB)
>>6328502 Also, just for the heck of it, I set up a spreadsheet with ~100000USD worth in both MSFT, INTC, and GOOG, to see what kind of profit I would get from it. So far I've made 268 dollars. lel Not including dividends, broker fees, etc, because fuck that at the moment.

13 hours later 6328525 Anonymous (1364657731073.gif 450x450 264kB)
>mfw mining in a pool and gambling all my earnings on SatoshiDICE at 91% odds I'm gonna get rich, right?

13 hours later 6328768 Anonymous (1364892232865.png 1149x1080 75kB)
>>6328421 They have gone up more than a dollar from this post.

16 hours later 6329650 Anonymous
So... LTC's?

18 hours later 6330669 Anonymous
Lol. Invest in bitcoins. Pouring money into unregulated market where it is impossible to know market players and you know that the few people with most of coins are going to great lengths to hide that fact is a terrible investment. Bitcoin operates like pump and dump. It would be illegal if tried to become legitimate market.

18 hours later 6330706 Anonymous
>>6330669 >inb4 hurr lgitamute currency Deflation spiral rather than bubble though?

19 hours later 6331089 Anonymous
bump sdfgskbdf

19 hours later 6331251 Anonymous
>>6323465 >what is fixing prices to the dollar/gold/other stable currency

19 hours later 6331257 Anonymous
>>6323536 both of these ideas are awful >taking financial advice from a girl, teehee

20 hours later 6331488 Anonymous
>litecoin >othercryptocurrencycoin this is why bitcoin is doomed to failure. the amount of competition is infinite. the market will be flooded with shitty worthless currencies that no one will trust.

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