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-   -   Bitcoin (https://forums.nzgames.com/showthread.php?t=85461)

LFC 15th June 2011 21:51

http://spendbitcoins.com/

Lightspeed 15th June 2011 22:40

Quote:

Originally Posted by Jodi
Pffft, what was that urban legened? Every USD $20 note has traces of cocaine on it?
I would be more scared if the illegal drug trade wasn't using the currency, as that would mean no one had confidence in it.

Oh wait, money laundering? Yea, same point as above. Would be scared if no one was doing it.

Whether anyone is using bitcoin to launder money or not is not the point. Using charges of money laundering to suppress it's appeal is.

Jodi 16th June 2011 13:06

Kiwi gets 25k btc (~$600k NZD) stolen by a lulzsec hacker.

mtgox helps get money back.

stupid hacker used mtgox to liquidate the funds.

http://www.reddit.com/r/Bitcoin/comm...s_compromised/

Heresy 16th June 2011 23:00

utterly retarded


Lightspeed 16th June 2011 23:50

What's that? Hardware for your bitcoin farm?

Jodi 17th June 2011 06:09

Nono, the fact that they got 5770s and 6770s. Should have got 5850s.

8p.

crocos 20th June 2011 10:28

Major bitcoin bank/exchange hacked, bitcoins drop from $17 to 1c in a day.

Oops.

Jodi 20th June 2011 10:38

Quote:

Originally Posted by crocos
Major bitcoin bank/exchange hacked, bitcoins drop from $17 to 1c in a day.

Yup, I'm in that file. Lucky for me I decided to use a unique password for that site (14 characters). So they shouldn't be able to crack that before I have changed it.

Hmm, with all this hacking going around I'm gonna have to redo all my 8 char passwords.

Ajax 21st June 2011 12:18

Quote:

Originally Posted by cEvin
how about not needlessly wasting electricity?


madmaxii 21st June 2011 21:03

Um, aren't we all wasting electricity posting on forums like this?

Why don't we just write letters to each other:confused:

Stalk3r 21st June 2011 22:33

without trying to piss on anyones blanket theres quite a difference in power consumption between normal pc use and all day 100% load

madmaxii 22nd June 2011 21:36

Agreed - but if you're already running your machine 24/7 there's not a lot in it - only watts (see what I did there) required to run your GPU at a fair rate of knots. (Oh, I did it again ;))

kRAdENkO 22nd June 2011 21:57

Running cpu and gpu at near 100% load uses massively more power than if its sitting there unused idling in my experience.

Overclocking pushes most devices power demands further, its a law of diminishing returns.

Brutus 23rd June 2011 10:05

Agreed,

Idle my PC uses around 120W, under load (gaming) it gets to around 400W.

Its the difference between it costing around $15 a month to leave it on all the time, to it costing nearly $50 a month to leave it on.

Not that I actually leave my PC on all the time anyway.
Turn it on when I get home from work, turn it off when I go to bed.

Jenza 4th July 2011 00:46

Anyone got any bitcoinmarket invites at all?

Lightspeed 22nd September 2011 11:38

So now that you're sold up Jodi, did you make any kind of profit?

Jodi 22nd September 2011 14:10

Quote:

Originally Posted by Lightspeed
So now that you're sold up Jodi, did you make any kind of profit?

Not sold up yet. Still got 1 psu, 3 video cards and 2 mobos to get rid of.

don't worry, I'll post when I've cashed up everything.

Spoon1 23rd September 2011 06:54

So that's a no then.

You can't include selling the hardware in that calculation, that's not a true representation.

A Corpse 23rd September 2011 07:48

Why not? It has value, he's not throwing it away. It's like any other capital purchase.

Golden Teapot 23rd September 2011 19:52

It's a "no" in any practical sense and if you take into account the opportunity-cost of say working for an evening or two stacking shelves at a supermarket then it's going to come out a loss I imagine.

A Corpse 23rd September 2011 20:47

Well, you don't have to sit there and supervise it so he's not really losing time that way. He could have the machines crunching at home and be working.

aR Que 27th September 2011 07:23

needless to say, Don't quit your day job.

Jodi 27th September 2011 09:55

Anyway, if one was to take the classic definition of profit (income - expenditure) then I have made about $1819 NZD.

However I'll actually look at the bottom of my balance sheet to actually see if I was better off or not. Which means I have to liquidate my assets to do so.

Juju 27th September 2011 10:29

I made $600 (Not including the cost of the single video card I bought).

But it got stolen from my liberty reserve account, so I made nothing. :mad:

Ajax 27th September 2011 19:32

^ lol

Jodi 12th December 2011 10:09

How much money I made!
 
Right!

So, money made doing bitcoin for 10 months = $328.88

Stuff I still have from bitcoin days:
650W PSU ($200)
Radeon 6950 2GB ($439)
15 btc (about $60 NZD at todays exhange rate)
$30 in exchange account.
3x 4GB USB keys.

Profit + Loss
==========
$2995.92 (Earnings -> NZD in bank account)
-$711.29 (power -> 2742.408 kWh)
-$225.13 (co-investor's cut)
--------
$2059.50 profit

Capital
=====
-$3972.42 (money spent buying mining kit)
$2241.80 (money received selling mining kit)
---------
-$1730.62 (capital loss, or mining kit rental if you want)

So, money made doing bitcoin for 10 months = $328.88 (But if I didn't buy the 650W psu it would be $528)

So, $1/day pretty much.

Trigger 12th December 2011 10:22

shit I can't believe I missed out on such an amazing opportunity/scheme :mad:

cEvin 12th December 2011 10:23

extremely lollish

A Corpse 12th December 2011 10:33

How much would you have made if you'd plowed $4k into buying Bitcoin when you started, then selling it 10 months later?

Jodi 12th December 2011 13:06

Quote:

Originally Posted by A Corpse
How much would you have made if you'd plowed $4k into buying Bitcoin when you started, then selling it 10 months later?

I would guess 4k @ $2, sell @ $4 = $4k.

but then again, that's just pure speculation. Doing it via mining was lower risk / lower reward.

Heck, plow $4k into it now, it's predicted to go from $3 usd to $33 usd. Make mega bucks!

Jodi 12th December 2011 13:07

Also, If I sold up my bitcoins when it was at $20 usd / coin, I would have made $3k more.

*sigh*

A Corpse 12th December 2011 13:22

What's a safe place to buy and sell them then? I've got some moolah in a paypal account that I could speculate with. :D

edit: After I do my research, of course.

Jodi 12th December 2011 16:46

Quote:

Originally Posted by A Corpse
What's a safe place to buy and sell them then? I've got some moolah in a paypal account that I could speculate with. :D

mt gox is the most liquid and safest (which is a relative word), but GL getting money from paypal into any exchange (chargeback fraud).

There is a NZ exchange (bitnz.com), but the spread is wider than mt gox, so you'll lose money buying coins there, secondly, it's less liquid for big purchase.

There is a UK exchange as well for xferring pounds, but I have never used that one.

Jodi 9th January 2012 06:21

RALLY!

Bitcoin is now back up to 9.15 NZD/BTC (from a low of 2.4 or thereabouts). Mining is now profitable again.

Feel free to jump on the gravy train again people.

This time it's easier as we now have an NZ exchange (bitnz.com). I would suggest pure speculation over buying and running a miner, as from previous experience you have a high chance of running at a loss as it takes a couple of months to pay off your mining kit, and who knows what bitcoin will do.

Ajax 11th April 2013 21:05

The price of these has shot up in the last few months. Currently trading in the USD$160 range.

http://www.nzherald.co.nz/technology...ectid=10876905

A Corpse 11th April 2013 23:39

It just crashed about $100 from a high of US$260. What a fucking circus. :D

blur^ 12th April 2013 09:00

saw that on reddit yesterday and went wtf is bitcoin

just read this thread /lol

Trigger 12th April 2013 11:13

seems like a solid and safe investment

Vrtigo 12th April 2013 11:46

of course not, its a high risk/high reward investment

Lightspeed 12th April 2013 12:55

Not that high risk if you generated your coins months/years ago on your gaming rig while out at work. Which, for the record, I did not, figured currency speculation was not for me.

Got a mate trying to gen up some "litecoins", seems a bit redundant if you ask me, but who knows.


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