Kong or other bitcoin experts...question

[Bay_area_Hokie]

Is your attraction to bitcoin the fact that it is not tied to a deficit spending treasury as exists in every country just about these days. Hence to do feel it is the ultimate hedge against US dollar debasing?


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[Major Kong]

Is your attraction to bitcoin the fact that it is not tied to a deficit spending treasury as exists in every country just about these days. Hence to do feel it is the ultimate hedge against US dollar debasing?


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Nah I'm retired and had some $$$ to drop into something so this is what I picked (think hobby). I don't hunt anymore, I only fish when the weather is alright and my mid life crisis came and went in the late 90's for one day.

If I make $$$ then Otay...if not then meh.

[Techmomof2]

I'm still trying to figure it out. Here are articles I've collected. Not sure what I think.

Bitcoin can replace the wall street investor
http://news.cnet.com/8301-1023_3-576022 ... stor-says/

Bitcoin, Go anonymous or go mainstream
http://blogs.kqed.org/newsfix/2013/10/1 ... newsletter

Pros and Cons of Bitcoin
https://www.youtube.com/watch?v=gNXZKwR6Lio

How Bitcoin works under the hood
https://www.youtube.com/watch?v=Lx9zgZCMqXE

Bitcoin mining is dead
https://www.youtube.com/watch?v=4fwAseQoUCs

Bitcoin CIA connection
https://www.youtube.com/watch?v=K5VC58gjnjY

Think Bitcoin is the answer, think again
https://www.youtube.com/watch?v=cPPNz-TJI3c

Bitcoin Burglary, Hackers rob online bank
http://news.sky.com/story/1165780/bitco ... nline-bank

Is your attraction to bitcoin the fact that it is not tied to a deficit spending treasury as exists in every country just about these days. Hence to do feel it is the ultimate hedge against US dollar debasing?


Sent from my iPad using Tapatalk

[Once]

Just out of curiosity, how did the midlife crisis manifest itself? Didja put on some whore bait and go out to buy an impractical automobile or dye your hair with that "Just for Men" stuff?

Is your attraction to bitcoin the fact that it is not tied to a deficit spending treasury as exists in every country just about these days. Hence to do feel it is the ultimate hedge against US dollar debasing?


Sent from my iPad using Tapatalk

Nah I'm retired and had some $$$ to drop into something so this is what I picked (think hobby). I don't hunt anymore, I only fish when the weather is alright and my mid life crisis came and went in the late 90's for one day.

If I make $$$ then Otay...if not then meh.

[Major Kong]

Just out of curiosity, how did the midlife crisis manifest itself? Didja put on some whore bait and go out to buy an impractical automobile or dye your hair with that "Just for Men" stuff?

Sorta kinda close. We were living in Tucson and I bought an 1998 Triumph Adventurer 900...it was my prized possession but I sold it when we moved to AK...it was my only "splurge" and wasn't an impulse but something that I said I was going to do.

I miss it but things being what they are I'm glad I sold it for mainly physical reasons.

In 2003 my wife and I bought 2 Arctic Cat '02 Pantera 600's and that was a whole lot of fun...we miss snow machining.

[Major Kong]

I'm still trying to figure it out. Here are articles I've collected. Not sure what I think...

Some people got aboard the bitcoin train early and have really profited super big time. I didn't start active mining until late last year and even then with the "rather primitive" setup I did pretty OK...then the ASIC hardware hit the market, the hash rates increased and data mining has gone from using your video card to stand alone units that can generate huge rates that dwarf my 200GH/s (initial $2600 investment) way into the TH/s range.

I'm running 100GH/s and as of right now averaging $80.04 a day...the other 100GH/s is over at my Mom's. I built her a nice stable PC and she's running the ASIC hardware in the basement and my nephew keeps an eye on it everyday (I know if it's up or down depending on the wallet).

I mentioned the other day where I was going to increase my hashing rate by entering in a 200GH/s mining contract with Butterfly Labs (where I bought my hardware)...after talking to my wife we have decided to go to 250 GH/s.

We don't run out and buy cars every year (we drive them until they fall apart), we don't travel much now (that was earlier), we don't eat out much so this is our mad spending.

[Once]

+1
I have a brother who just had his midlife thingy (he's 56) and purchased a Harley a few weeks ago. His wife said the bike cost him a lot less than a divorce would if he'd decided to go off and do something more "serious" (I'm guessing "serious" is code for another woman).

Anyway, I'm glad you didn't dye your hair. That looks weird....

Just out of curiosity, how did the midlife crisis manifest itself? Didja put on some whore bait and go out to buy an impractical automobile or dye your hair with that "Just for Men" stuff?

Sorta kinda close. We were living in Tucson and I bought an 1998 Triumph Adventurer 900...it was my prized possession but I sold it when we moved to AK...it was my only "splurge" and wasn't an impulse but something that I said I was going to do.

I miss it but things being what they are I'm glad I sold it for mainly physical reasons.

In 2003 my wife and I bought 2 Arctic Cat '02 Pantera 600's and that was a whole lot of fun...we miss snow machining.

[Bay_area_Hokie]

I'm still trying to figure it out. Here are articles I've collected. Not sure what I think.

Bitcoin can replace the wall street investor
http://news.cnet.com/8301-1023_3-576022 ... stor-says/

Bitcoin, Go anonymous or go mainstream
http://blogs.kqed.org/newsfix/2013/10/1 ... newsletter

Pros and Cons of Bitcoin
https://www.youtube.com/watch?v=gNXZKwR6Lio

How Bitcoin works under the hood
https://www.youtube.com/watch?v=Lx9zgZCMqXE

Bitcoin mining is dead
https://www.youtube.com/watch?v=4fwAseQoUCs

Bitcoin CIA connection
https://www.youtube.com/watch?v=K5VC58gjnjY

Think Bitcoin is the answer, think again
https://www.youtube.com/watch?v=cPPNz-TJI3c

Bitcoin Burglary, Hackers rob online bank
http://news.sky.com/story/1165780/bitco ... nline-bank

Is your attraction to bitcoin the fact that it is not tied to a deficit spending treasury as exists in every country just about these days. Hence to do feel it is the ultimate hedge against US dollar debasing?


Sent from my iPad using Tapatalk

This is quite a reference set. Thanks for posting this tmo2!!


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[Techmomof2]

Name your topic.

I'm still trying to figure it out. Here are articles I've collected. Not sure what I think.

Bitcoin can replace the wall street investor
http://news.cnet.com/8301-1023_3-576022 ... stor-says/

Bitcoin, Go anonymous or go mainstream
http://blogs.kqed.org/newsfix/2013/10/1 ... newsletter

Pros and Cons of Bitcoin
https://www.youtube.com/watch?v=gNXZKwR6Lio

How Bitcoin works under the hood
https://www.youtube.com/watch?v=Lx9zgZCMqXE

Bitcoin mining is dead
https://www.youtube.com/watch?v=4fwAseQoUCs

Bitcoin CIA connection
https://www.youtube.com/watch?v=K5VC58gjnjY

Think Bitcoin is the answer, think again
https://www.youtube.com/watch?v=cPPNz-TJI3c

Bitcoin Burglary, Hackers rob online bank
http://news.sky.com/story/1165780/bitco ... nline-bank

Is your attraction to bitcoin the fact that it is not tied to a deficit spending treasury as exists in every country just about these days. Hence to do feel it is the ultimate hedge against US dollar debasing?


Sent from my iPad using Tapatalk

This is quite a reference set. Thanks for posting this tmo2!!


Sent from my iPad using Tapatalk

[Techmomof2]

http://www.washingtonpost.com/blogs/the ... ansaction/

One of the unique things about Bitcoin is that every transaction on its network is publicly available for anyone to examine. Any time a user sends a payment to another user, that transaction is reflected in the "blockchain," a global, permanent ledger of Bitcoin transactions.

You can examine every Bitcoin transaction that has ever occurred at a site called blockchain.info. And that site says that a truly massive Bitcoin transaction occurred yesterday:

Name your topic.

I'm still trying to figure it out. Here are articles I've collected. Not sure what I think.

Bitcoin can replace the wall street investor
http://news.cnet.com/8301-1023_3-576022 ... stor-says/

Bitcoin, Go anonymous or go mainstream
http://blogs.kqed.org/newsfix/2013/10/1 ... newsletter

Pros and Cons of Bitcoin
https://www.youtube.com/watch?v=gNXZKwR6Lio

How Bitcoin works under the hood
https://www.youtube.com/watch?v=Lx9zgZCMqXE

Bitcoin mining is dead
https://www.youtube.com/watch?v=4fwAseQoUCs

Bitcoin CIA connection
https://www.youtube.com/watch?v=K5VC58gjnjY

Think Bitcoin is the answer, think again
https://www.youtube.com/watch?v=cPPNz-TJI3c

Bitcoin Burglary, Hackers rob online bank
http://news.sky.com/story/1165780/bitco ... nline-bank

Is your attraction to bitcoin the fact that it is not tied to a deficit spending treasury as exists in every country just about these days. Hence to do feel it is the ultimate hedge against US dollar debasing?


Sent from my iPad using Tapatalk

This is quite a reference set. Thanks for posting this tmo2!!


Sent from my iPad using Tapatalk

[Techmomof2]

Posting all again. The newer ones are at the bottom.

Bitcoin can replace the wall street investor
http://news.cnet.com/8301-1023_3-576022 ... stor-says/

Bitcoin, Go anonymous or go mainstream
http://blogs.kqed.org/newsfix/2013/10/1 ... newsletter

Pros and Cons of Bitcoin
https://www.youtube.com/watch?v=gNXZKwR6Lio

How Bitcoin works under the hood
https://www.youtube.com/watch?v=Lx9zgZCMqXE

Bitcoin mining is dead
https://www.youtube.com/watch?v=4fwAseQoUCs

Bitcoin CIA connection
https://www.youtube.com/watch?v=K5VC58gjnjY

Think Bitcoin is the answer, think again
https://www.youtube.com/watch?v=cPPNz-TJI3c

Bitcoin Burglary, Hackers rob online bank
http://news.sky.com/story/1165780/bitco ... nline-bank

Who did that massive 150 million bitcoin transaction
http://www.washingtonpost.com/blogs/the ... ansaction/

Bitcoin linked to In-Q-Tel and inflationary collapse
http://www.youtube.com/watch?v=Bdvu0U6S-nE

Gavin Andresen and Amir Taaki, Bitcoin
http://www.youtube.com/watch?v=TwNfBgwbqng

Bitcoin and Scared Banks
http://www.coindesk.com/scared-banks-bitcoin-will/

Bitcoin companies start DATA for self-regulation
http://www.coindesk.com/bitcoin-industr ... tory-body/

Beginners guide to Bitcoin
http://www.coindesk.com/information/

Bitcoin’s future is in Asia
http://www.saveamericafoundation.com/20 ... reign-man/

Bitcoin online Bank Robbery because that’s where the money is
http://nakedsecurity.sophos.com/2013/11 ... -money-is/

Bitcoin Assassination Market
http://www.forbes.com/sites/andygreenbe ... -bitcoins/

The Bitcoin scam enters hyperdrive mode
http://www.wallstreetdaily.com/2013/11/ ... tate/#read

Bitcoin crashes 30 percent, then rebounds, an algo arena
http://www.prisonplanet.com/bitcoin-tra ... ounds.html

Police haven’t found Silk Road’s Bitcoin yet
http://classic.slashdot.org/story/13/10/06/0242257

Israeli Mathematicians connect Bitcoin founder to Silk Road Pirate
http://www.algemeiner.com/2013/11/26/is ... e-roberts/

Bitcoin passes 1,000 for the first time
http://www.cnbc.com/id/101230884?__source=ft&par=ft

Bitcoins sell for almost as much as an ounce of gold
http://www.theblaze.com/stories/2013/11 ... e-of-gold/

Gold Ad, but tells shortcomings of Bitcoin
http://click.e.independentlivingbullion ... XQ&sysid=1

Huge Bitcoin Heist, Black Market Drug Shop, Sheep Marketplace poofs
http://blogs.computerworld.com/cybercri ... ource=cwfb

Bitcoin and Wall Street, Different worlds for now
http://seekingalpha.com/article/1876731 ... e_readmore

[Major Kong]

Quite a bit of our Christmas buying was paid for with bitcoins.

Most of the shopping was Bitcoinshop.US, GYFT and Bitcoin Store.

[Techmomof2]

How do you 'generate' them? or do you just buy them from a vendor at market prices? Do you receive the actual coins or is it all virtual? If the value of each coin varies then are items constantly re-priced?

Quite a bit of our Christmas buying was paid for with bitcoins.

Most of the shopping was Bitcoinshop.US, GYFT and Bitcoin Store.

[Major Kong]

How do you 'generate' them? or do you just buy them from a vendor at market prices? Do you receive the actual coins or is it all virtual? If the value of each coin varies then are items constantly re-priced?

We're a 100GH/s bitcoin miner...I use bitcoin mining software which "mints" the coin then what is produced is placed directly in my wallet (which is backed up both on paper and digitally) then we can use it how we please. Cash it in, spend it, let it set there or move it.

Right now from this particular computer I'm running 10GH/s ASIC hardware which right now is showing $12 a day...I have 40GH/s hooked up in the basement and my nephew is running 50GH/s over at my mom's house...I'm using the Linux server from the business we sold last year (the new owner didn't want any of our PC's).

Back about this time last year I spent $2650 on the hardware which has more than tripled since then...we have also contracted an additional 250GH/s with Butterfly Labs to let them mint. What is produced will go directly to a separate wallet which I've already created.

[HokieJoe]

How do you 'generate' them? or do you just buy them from a vendor at market prices? Do you receive the actual coins or is it all virtual? If the value of each coin varies then are items constantly re-priced?

We're a 100GH/s bitcoin miner...I use bitcoin mining software which "mints" the coin then what is produced is placed directly in my wallet (which is backed up both on paper and digitally) then we can use it how we please. Cash it in, spend it, let it set there or move it.

Right now from this particular computer I'm running 10GH/s ASIC hardware which right now is showing $12 a day...I have 40GH/s hooked up in the basement and my nephew is running 50GH/s over at my mom's house...I'm using the Linux server from the business we sold last year (the new owner didn't want any of our PC's).

Back about this time last year I spent $2650 on the hardware which has more than tripled since then...we have also contracted an additional 250GH/s with Butterfly Labs to let them mint. What is produced will go directly to a separate wallet which I've already created.

When you say, $12/day, do you mean actual dollars or bitcoin denomination?

[HokieJoe]

How do you 'generate' them? or do you just buy them from a vendor at market prices? Do you receive the actual coins or is it all virtual? If the value of each coin varies then are items constantly re-priced?

We're a 100GH/s bitcoin miner...I use bitcoin mining software which "mints" the coin then what is produced is placed directly in my wallet (which is backed up both on paper and digitally) then we can use it how we please. Cash it in, spend it, let it set there or move it.

Right now from this particular computer I'm running 10GH/s ASIC hardware which right now is showing $12 a day...I have 40GH/s hooked up in the basement and my nephew is running 50GH/s over at my mom's house...I'm using the Linux server from the business we sold last year (the new owner didn't want any of our PC's).

Back about this time last year I spent $2650 on the hardware which has more than tripled since then...we have also contracted an additional 250GH/s with Butterfly Labs to let them mint. What is produced will go directly to a separate wallet which I've already created.

When you say, $12/day, do you mean actual dollars or bitcoin denomination?

[Major Kong]

When you say, $12/day, do you mean actual dollars or bitcoin denomination?

Right now the exchange rate is 1 bitcoin = $1043.

I can, if I chose, convert my bitcoins into US currency at the rate of exchange at the time I finalize the transaction. My largest conversion has been $2000 but that pales into comparison with others.