Ha!

Point taken...

Today down to 12K from 20K ... love it! The hype is over? Many burnt fingers I hope. ;-)

^^^ What, you only feel good when others feel bad? Sorta lame.

Makes me feel better I totally missed on bitcoin...
When you mortgaged your house to buy bitcoins at $19,000 and check the rate today:

https://i.imgflip.com/1pv4ev.jpg

Currency is something that doesn't increase in value 20 times since the beginning of the year, and drop one third of it's value in five days. That is a tulip....YMMV

It is an encrypted pyramid scheme, that is what it is.
The more people try to mine bitcoins, the harder it gets and the lower the reward gets.
And it uses the energy of 3 nuclear plants...
And it is too volatile to be a currency.

I made some some money on some blockchain startup scam on Tuesday, and as soon as I got out the price started dropping...just played on the volatility. There were many such scams going on Monday and Tuesday.

Yep...

Strong work defining a tulip. But an utter failure at defining currency. Please, try again.

I was describing Bitcoin....

It was all 1s and 0s in my former life...backed by a bit of credibility...nothing more :)

Ignorance confirmed. Thanks.

Next?

An accepted medium of exchange?

Bingo. AND it is a social construct.

What is happening with bitcoin is that its value is being explored by those invested in its use. It is new for the vast majority thus it is chaotic. And it could disappear just like many forms of currency have done. How much is a German mark worth?

I like the model of ripple better. But to each their own.

a bit, or a byte of credibility?

I have a friend who lost his Bit Coins due to his computer crashing, not sure of all the facts.

What happens to his and all the others that loose their coins?

Like here in New Yuck with the deposit scam the state runs. They pocketed 102 million this year of non returned containers. They keep 80% and send the other 20% back to the collectors.

Do the lost coils go to Bulgaria and Belize or recirculated?

Terry

There is also the story of that guy who accidentally trashed the hard drive that had $128M of bitcoin key stored in it. It is in the municipal dump but the town won’t let him dig...that would be some real bitcoin mining.

That is another flaw with the bitcoin: if you lose the key to them, no one can help you.

But you can literally write it down on a piece of paper and if you have that, recover it.

Just a thought... If you lived somewhere cold the Bitcoin machines could help heat your house... But there's still the issue of the fan noise and Summer time.

A cold cellar would be ideal but you still need to circulate the air.

http://forums.pelicanparts.com/uploa...1514000247.jpg

It could certainly offset heating costs...

Two of those are keeping my garage about 5 degrees above what the thermostats are set for. Not sure what this will look like in the summer. Fortunately a 900 sq ft 6" deep slab tends to act as a good heat sink.

Well....you shoulda bought some at 12K and sold today. You woulda made a pretty penny for doin sweet F.A. except revelling is someone else's misery.

24h Low / 24h High $11,519.1690 / $15,809.5414