"Folding" for profit, not fun - Bitcoin

[Butuz]

Fiat. From the latin verb fiō. S'not an abbreviation

I know I just always shout the word FIAT at the top of my voice. Not sure why!

Butuz

[directhex]

I know I just always shout the word FIAT at the top of my voice. Not sure why!

Butuz

Bad experiences with Italian cars?

[emjay2d]

Back in 2011(when this was created) this was indeed a fantastic idea! If people started doing it when you suggested, they'd have a lot(?) of extra cash! Hindsights 20-20 of course! Now days, as im sure others have noted, it is actually a money SINK due to mining difficulty and electricity. Although, if your a trader, and even if your not, there are some profitable ventures with the other altcoins! LONG LIVE CRYPTOCURRENCY! <3

[ehhhhhhh]

Back in 2011(when this was created) this was indeed a fantastic idea! If people started doing it when you suggested, they'd have a lot(?) of extra cash! Hindsights 20-20 of course! Now days, as im sure others have noted, it is actually a money SINK due to mining difficulty and electricity. Although, if your a trader, and even if your not, there are some profitable ventures with the other altcoins! LONG LIVE CRYPTOCURRENCY! <3

Bitcoin is the real deal. ****coins lack utility, network effect, community. The only reason they have a market is speculators.

[wazzickle]

Is anyone still folding for good profit? Thinking about getting into it.

[The Hand]

Is anyone still folding for good profit? Thinking about getting into it.

All the buzz is about Ethereum at the moment, which might be a sign it's already topped out! You never know it could carry on rising though, I think it might be more about trading the coin when it gets to this point, buying in dips and selling on spikes etc or search around for more cypto-currencies that could be on the rise. You could always mine and trade at the same time to hedge your bets.

Radeons are getting snapped up pretty sharpish though.. I'm window shopping for a Ryzen 5 1400 and RX 580 at the moment, since a consumer-friendly Vega is taking an age to arrive.. A 1080 equivalent for £350-400 would be nice in time for the winter months maybe.. but not sure if I can wait that long.

[CAT-THE-FIFTH]

All the buzz is about Ethereum at the moment, which might be a sign it's already topped out! You never know it could carry on rising though, I think it might be more about trading the coin when it gets to this point, buying in dips and selling on spikes etc or search around for more cypto-currencies that could be on the rise. You could always mine and trade at the same time to hedge your bets.

Radeons are getting snapped up pretty sharpish though.. I'm window shopping for a Ryzen 5 1400 and RX 580 at the moment, since a consumer-friendly Vega is taking an age to arrive.. A 1080 equivalent for £350-400 would be nice in time for the winter months maybe.. but not sure if I can wait that long.

The Ryzen 5 1600 is the sweet spot in the Ryzen range - 50% more cores,double the L3 cache and a better stock cooler are worth it for £40 to £50 more.

[Percy1983]

Looking at cashing in on the mining thing, selling one of my 290xs now should get my money back after a couple of years use, ebay prices have risen quite nicely.

[Macman]

I have to thank the miners for increasing the value of my card to allow me to sell it and go for a 1080

[The Hand]

The Ryzen 5 1600 is the sweet spot in the Ryzen range - 50% more cores,double the L3 cache and a better stock cooler are worth it for £40 to £50 more.

Yeah, I've just spotted it on Ebuyer for £195.. great price.

[Bluecube]

You could try Burstcoin. Much easier to start up with as it relies on disk space rather than computing power. It's been around for a couple of years so has a fairly mature system in place. Seems to be kicking off nicely now as well.

[wedge22]

Reading through the first few pages of this thread is very interesting, some of you guys must be pretty rich now with the current BTC value, thats if you never sold it off of course.

[badass]

I got my first £20 a while back and have another £25 on the way*. That's paid for the electricity till around the 15th June, having started on the 10th May. I still have nearly 6 bitcoins and they are currently trading for £12 each on Britcoin or around $18 on Mt Gox.


*Got the money from MT gox as Britcoin seems a little more ametueirsh and is full of warnings the site is in an alpha state.

Funny what a difference time makes!

1 bitcoin left back in 2011 would be worth appx £6500 today. That's because you would have bitcoin cash and bitcoin gold. If I had sat on those 6 Bitcoins, they would be worth appx £40,000 today. I believe that was about 2 days on a Radeon 6870.

I still have 1.67 bitcoins in a wallet..........that I forgot the password for years ago! Current value appx £10,000

MTGox was hacked and went bust after losing everyone's money. No idea what happened to Britcoin.

I still have appx 2 ether and 1 and a bit litecoin. Think I might just sit on them.

[The Hand]

Bitcoin just broke $15000.. It was $10000 just a few days ago.

[cptwhite_uk]

Ignore got £ and $ mixed up.

[Output]

Bitcoin just broke $15000.. It was $10000 just a few days ago.

At that speed, surely it's not going to be long before the bubble finally does burst.