Bitcoin - Page 3

LFC · 15th June 2011, 21:51

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

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.

Ajax · 27th September 2011, 19:32

^ lol

Jodi · 12th December 2011, 10:09

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

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.

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.

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.

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.

23rd September 2011, 07:48	#99
A Corpse talkative lurker	Why not? It has value, he's not throwing it away. It's like any other capital purchase. __________________ Broke my addiction! Bye bye Eve, hello Minecraft. Wait... >_<

23rd September 2011, 20:47	#101
A Corpse talkative lurker	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. __________________ Broke my addiction! Bye bye Eve, hello Minecraft. Wait... >_<

12th December 2011, 10:22	#107
Trigger Laserman	shit I can't believe I missed out on such an amazing opportunity/scheme __________________ Are you slow? The alleged lie that you might have heard, me saying, allagedly moments ago... That's a parasite that lives in my neck.

12th December 2011, 10:33	#109
A Corpse talkative lurker	How much would you have made if you'd plowed $4k into buying Bitcoin when you started, then selling it 10 months later? __________________ Broke my addiction! Bye bye Eve, hello Minecraft. Wait... >_<

12th December 2011, 13:22	#112
A Corpse talkative lurker	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. edit: After I do my research, of course. __________________ Broke my addiction! Bye bye Eve, hello Minecraft. Wait... >_<

15th June 2011, 21:51	#81
LFC	http://spendbitcoins.com/ __________________ "This doesn't happen to me often, Honest!!"

16th June 2011, 13:06	#83
Jodi	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/

16th June 2011, 23:50	#85
Lightspeed	What's that? Hardware for your bitcoin farm? __________________ Stay shook. No sook.

17th June 2011, 06:09	#86
Jodi	Nono, the fact that they got 5770s and 6770s. Should have got 5850s. 8p. Last edited by Jodi : 17th June 2011 at 06:10.

20th June 2011, 10:28	#87
crocos	Major bitcoin bank/exchange hacked, bitcoins drop from $17 to 1c in a day. Oops. __________________ Ξ √ Ω L U T ↑ ☼ N وكل يوم كنت تعيش في العبودية

21st June 2011, 21:03	#90
madmaxii	Um, aren't we all wasting electricity posting on forums like this? Why don't we just write letters to each other __________________ Carpe Diem

21st June 2011, 22:33	#91
Stalk3r	without trying to piss on anyones blanket theres quite a difference in power consumption between normal pc use and all day 100% load

22nd June 2011, 21:36	#92
madmaxii	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 ) __________________ Carpe Diem

22nd June 2011, 21:57	#93
kRAdENkO	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.

23rd June 2011, 10:05	#94
Brutus	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. __________________ Some people are like slinkies. Not really good for anything, but they still bring a smile to your face when you push them down a flight of stairs.

4th July 2011, 00:46	#95
Jenza	Anyone got any bitcoinmarket invites at all?

22nd September 2011, 11:38	#96
Lightspeed	So now that you're sold up Jodi, did you make any kind of profit? __________________ Stay shook. No sook.

23rd September 2011, 06:54	#98
Spoon1 Mmm... Sacrilicious	So that's a no then. You can't include selling the hardware in that calculation, that's not a true representation.

23rd September 2011, 19:52	#100
Golden Teapot Love, Actuary	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.

27th September 2011, 07:23	#102
aR Que	needless to say, Don't quit your day job.

27th September 2011, 09:55	#103
Jodi	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.

27th September 2011, 10:29	#104
Juju get to da choppa	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.

12th December 2011, 10:09	#106
Jodi	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.

12th December 2011, 10:23	#108
cEvin Love In Vein	extremely lollish

12th December 2011, 13:07	#111
Jodi	Also, If I sold up my bitcoins when it was at $20 usd / coin, I would have made $3k more. sigh

9th January 2012, 06:21	#114
Jodi	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.

11th April 2013, 21:05	#115
Ajax Architeuthis	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

11th April 2013, 23:39	#116
A Corpse talkative lurker	It just crashed about $100 from a high of US$260. What a fucking circus. __________________ Broke my addiction! Bye bye Eve, hello Minecraft. Wait... >_<

12th April 2013, 09:00	#117
blur^	saw that on reddit yesterday and went wtf is bitcoin just read this thread /lol

12th April 2013, 11:13	#118
Trigger Laserman	seems like a solid and safe investment __________________ Are you slow? The alleged lie that you might have heard, me saying, allagedly moments ago... That's a parasite that lives in my neck.

12th April 2013, 11:46	#119
Vrtigo Marginal Poster	of course not, its a high risk/high reward investment

12th April 2013, 12:55	#120
Lightspeed	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. __________________ Stay shook. No sook.