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Old 15th June 2011, 21:51     #81
LFC
 
http://spendbitcoins.com/
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Old 15th June 2011, 22:40     #82
Lightspeed
 
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.
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Old 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/
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Old 16th June 2011, 23:00     #84
Heresy
yawn.
 
utterly retarded

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Old 16th June 2011, 23:50     #85
Lightspeed
 
What's that? Hardware for your bitcoin farm?
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Old 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.
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Old 20th June 2011, 10:28     #87
crocos
 
Major bitcoin bank/exchange hacked, bitcoins drop from $17 to 1c in a day.

Oops.
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Old 20th June 2011, 10:38     #88
Jodi
 
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.
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Old 21st June 2011, 12:18     #89
Ajax
Architeuthis
 
Quote:
Originally Posted by cEvin
how about not needlessly wasting electricity?
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Old 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
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Old 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
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Old 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 )
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Old 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.
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Old 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.
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Old 4th July 2011, 00:46     #95
Jenza
 
Anyone got any bitcoinmarket invites at all?
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Old 22nd September 2011, 11:38     #96
Lightspeed
 
So now that you're sold up Jodi, did you make any kind of profit?
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Old 22nd September 2011, 14:10     #97
Jodi
 
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.
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Old 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.
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Old 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.
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Old 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.
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Old 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.
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Old 27th September 2011, 07:23     #102
aR Que
 
needless to say, Don't quit your day job.
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Old 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.
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Old 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.
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Old 27th September 2011, 19:32     #105
Ajax
Architeuthis
 
^ lol
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Old 12th December 2011, 10:09     #106
Jodi
 
facepalm 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.
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Old 12th December 2011, 10:22     #107
Trigger
Laserman
 
shit I can't believe I missed out on such an amazing opportunity/scheme
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Old 12th December 2011, 10:23     #108
cEvin
Love In Vein
 
extremely lollish
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Old 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?
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Old 12th December 2011, 13:06     #110
Jodi
 
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!
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Old 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*
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Old 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.
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Old 12th December 2011, 16:46     #113
Jodi
 
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.
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Old 9th January 2012, 06:21     #114
Jodi
 
facepalm

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.
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Old 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
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Old 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.
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Old 12th April 2013, 09:00     #117
blur^
 
saw that on reddit yesterday and went wtf is bitcoin

just read this thread /lol
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Old 12th April 2013, 11:13     #118
Trigger
Laserman
 
seems like a solid and safe investment
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Old 12th April 2013, 11:46     #119
Vrtigo
Marginal Poster
 
of course not, its a high risk/high reward investment
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Old 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.
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