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The Lounge>Bitcoin Take?
ChiefRocka 11:41 AM 02-15-2013
Always love to bounce this kind of stuff off the Planet. Have any of you done any research into Bitcoin, and if you hold any opinions on the concept I'd love to hear what you think.





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AustinChief 02:34 PM 04-06-2013
With the new ASIC hardware coming out later this month... bitcoin mining is going to explode. In theory, a $10k investment in hardware would pay itself off in less then a month and be all profit from there on out. Of course you only would have a year or two max to make that profit in... but hell if it is 20 months of $10k+ profit, that's not too shabby.
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Hog's Gone Fishin 02:38 PM 04-06-2013
Originally Posted by WhitiE:
Bump?
My brother is talking to me about mining. Anyone got advice/info?

Yes. Wear a helment.
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WhitiE 03:36 PM 04-06-2013
Originally Posted by Hog Farmer:
Yes. Wear a helment.
The light on the front optional?
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AustinChief 03:37 PM 04-06-2013
Originally Posted by WhitiE:
The light on the front optional?
no way! that is mandatory!
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WhitiE 03:40 PM 04-06-2013
I guess ill just duct tape my flashlight....
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WhitiE 03:42 PM 04-06-2013
Originally Posted by AustinChief:
With the new ASIC hardware coming out later this month... bitcoin mining is going to explode. In theory, a $10k investment in hardware would pay itself off in less then a month and be all profit from there on out. Of course you only would have a year or two max to make that profit in... but hell if it is 20 months of $10k+ profit, that's not too shabby.
My brother is wanting to buy two of the ACIS from BFL. He said theres a waiting list so he is looking for other options
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Hammock Parties 03:50 PM 04-06-2013
It's great for buying drugs and underage pr0n on the deep web.

You're burning money if you invest for any other reason.
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AustinChief 04:04 PM 04-06-2013
Originally Posted by Wonton Prejudice:
It's great for buying drugs and underage pr0n on the deep web.

You're burning money if you invest for any other reason.
Unless you are mining.. in which case you are "creating" money.. so long as there is a market for it... and until it hits its cap in a few years (or more)
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Hammock Parties 04:10 PM 04-06-2013
Aren't the electricity costs prohibitive?
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AustinChief 04:20 PM 04-06-2013
Originally Posted by Wonton Prejudice:
Aren't the electricity costs prohibitive?
not with the new ASICs but yeah in the past you ate up all your profits by running a crapload of high wattage GPUs. I think the current gen ones coming out in Late April will cost less then $1/day to run. Which is why I expect an explosion in miners.
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WhitiE 05:39 PM 04-06-2013
Originally Posted by AustinChief:
not with the new ASICs but yeah in the past you ate up all your profits by running a crapload of high wattage GPUs. I think the current gen ones coming out in Late April will cost less then $1/day to run. Which is why I expect an explosion in miners.
Thanks for a little info AC
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Fish 08:15 PM 04-10-2013
Wow.... Bitcoin is kinda going crazy right now.

Originally Posted by :
Bitcoin, the digital currency, lost more than $160 (104) in value on Wednesday, just hours after hitting a record high.

The currency hit a new high of $266 before falling to $105 and then bouncing back to $130. The fall is unlikely to put off speculators. Two months ago, a Bitcoin was worth $20.

http://www.guardian.co.uk/technology...igh-losing-160
I just looked at my Bitcoin balance... I've made several hundred dollars on the value of my Bitcoins.. Sounds like if I would have checked yesterday and cashed some out, I would have had twice as much.. When I bought Bitcoins, I only paid $20 a piece..
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Simply Red 08:17 PM 04-10-2013
I've got to do it again - sorry in advance.



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Simply Red 08:19 PM 04-10-2013
Originally Posted by AustinChief:
not with the new ASICs
Onitsuka Tigers for the win...:-)
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CoMoChief 08:22 PM 04-10-2013

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