Bitcoin Winners

StevenK

StevenK

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As bitcoin hits insane prices, it strikes me that there are a large number of IT folks here, relatively young, and that there must be somebody here who threw down $500 for a laugh five years ago and now never has to work again.

That person isn't me.

If it's you, here is the place to gloat and pat yourself on the back, and I will feign enjoying it with you.

Any early adopters made serious bank? Anyone sell out too soon? Fuck it, we can just make it an investment big payout/big loss stories thread if you like.
 
RAZO

RAZO

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I had money it Bitcoin Years ago but ended up using it. More Than $500. They Say In 20 Years, 1 Bitcoin is going to be Ridiculous. There is still time. I'm about to drop a G in my bitcoin account and just let it sit there.
 
fake

fake

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I've got a Princess Diana Beanie Baby if anyone is looking. $50k shipped.
 
famicommander

famicommander

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A lot of people are going to lose their asses on this.
 
ChuChu Flamingo

ChuChu Flamingo

We have purposely, trained him wrong, ...as a joke
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Yes invest now it is totally going to keep infinitely going up.
 
egg_sanwich

egg_sanwich

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I was too busy buying video games like a manchild, I chose to ignore cryptocurrencies. Not sure that move paid off.
 
DevilRedeemed

DevilRedeemed

teh
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it has become something very much akin to the videogame collector's market.
the way it is hitting the news all over the place will have the price boom hard for the next year - a bitcoin will be worth 300k this time next year I would imagine, if it isn't somehow chopped at the knees beforehand.
a couple of years down the road the bubble will burst and it will fuck people's investments and then some. but will and is opening up the way towards the future.

I have seen the future.
we're all fucked
 
heihachi

heihachi

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I admit I don't know much about these. Where can you actually you use these if you don't want to just cash out in dollars? Do you have to pay capital gains on these? What's unique about bitcoin compared to another cryptocurrency, what's stopping another one from just taking its place?
 
NeoSneth

NeoSneth

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I mined around the 60GH/s mark with some ASIC's before the chinese took that over. About 4-5 years ago.
I did not make a fortune, but I did cover the cost of my hardware investment at the time.

I've let it sit there since then. It looks like a lot of money, but i've only used it a few times.
 
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norton9478

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Past Performance Is Not Indicative Of Future Results
 
M

Marek

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I bought bitcoin to use the silk road.

They were 10 dollars a piece.

Safe to say I lost
 
DevilRedeemed

DevilRedeemed

teh
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Poppy said:
I bought bitcoin to use the silk road.

They were 10 dollars a piece.

Safe to say I lost
Click to expand...

it is nutz.
internet moni. value in code. chinese mining factories and the silk road.
I want to be a part of it
 
Ip Man

Ip Man

BBLLOOOO__HHAARRDDDDDD!!!!,
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my email gets flooded with CONGRATULATIONS! YOU ARE THE WINNER OF MANY BITCOINS. didn't even know what it was until all that junk mail.
 
GregN

GregN

aka The Grinch
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Isn't it what hackers have a big hard on for now?
 
LoneSage

LoneSage

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I had a friend here some years ago who was mining bitcoin in his apartment. One room was just full of computers...mining bitcoin...I have no fucking clue how people even mine bitcoin, it's pretty crazy.

I am not a risk taker when it comes to money. Hell I'm probably about as lame as Greg when it comes to saving money. To the bold go the spoils.
 
Kid Panda

Kid Panda

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Poppy said:
I bought bitcoin to use the silk road.

They were 10 dollars a piece.

Safe to say I lost
Click to expand...

This is literally the only reason I even know about bitcoin. A buddy of mine was just basking in the Silk Road and got all types of crazy shit. I think bitcoin was around the 50 mark when he used it. Man, I know for a fact he spent over 5 grand in bitcoin over the time he used SR, if he had that money now....wow.
 
skate323k137

skate323k137

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Space cash is only worth what you as a planet have decided it is worth.
 
NeoSneth

NeoSneth

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i have used BTC to buy a few videogames. it might not be real money, but you can buy real stuff with it.
Wargaming allows it for in game purchases as well.
 
Jibbajaba

Jibbajaba

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skate323k137 said:
Space cash is only worth what you as a planet have decided it is worth.
Click to expand...

Same goes for most things. The only things that truly have intrinsic value are things that people need to survive.
 
M

Morden

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SteveNK said:
As bitcoin hits insane prices, it strikes me that there are a large number of IT folks here, relatively young, and that there must be somebody here who threw down $500 for a laugh five years ago and now never has to work again. That person isn't me.
Click to expand...

It's not me, either. I didn't see the point when it became a thing. For me, a regular guy who is buying things on internet, it was an extra step. It was like converting your money from dollars to euro, to buy something you could have paid for in dollars to begin with. I don't need to launder my money, either. Plus, back then, online stores didn't accept bitcoin payments.

I do know a guy who bought some bitcoins. He bought $50 worth. It's free money now.
 
SML

SML

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Maybe you'd be a fool to want to, but how easy is it for a bitcoin millionaire to become a dollar millionaire?

Edit:
https://digiconomist.net/bitcoin-energy-consumption

The energy consumption of bitcoin is a hot story, and I'm sure that some of the projections are overblown, but it really would be perfect if we end up beating one another's skulls in with the servers we couldn't keep running because all the energy went into coin mining.
 
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NeoSneth

NeoSneth

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and most people mining do it with stolen power. Mining is not cost effective in most cases unless power is free.
 
SML

SML

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Sneth, you're a biochemist, right? Do you feel like bitcoin has stolen much processing time from distributed computing projects like Folding@home?

The more I think about it, the more Bitcoin feels like a joke being played on our ape brains. Real resources, like energy and computing power, being converted, voluntarily and irretrievably, into a form of wealth designed for hoarding. Philip K. Dick would have a field day with it. I guess it keeps nVidia and ATI in business.
 
NeoSneth

NeoSneth

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SML said:
Sneth, you're a biochemist, right? Do you feel like bitcoin has stolen much processing time from distributed computing projects like Folding@home?

The more I think about it, the more Bitcoin feels like a joke being played on our ape brains. Real resources, like energy and computing power, being converted, voluntarily and irretrievably, into a form of wealth designed for hoarding. Philip K. Dick would have a field day with it. I guess it keeps nVidia and ATI in business.
Click to expand...

I doubt BTC has had an impact on those projects. Bitcoin has been exclusively processed by ASIC's for the last 5-6 years. Most distributed projects have moved to other internal means of analysis and computation. Stream processing GPU's were not part of those old projects , and they are now heavily used for molecular analysis in-house. CPU's haven't moved forward all that much, but GPU utilization has been massive.

That is not to say distributed computing can't farm cryptocurrency. There is actually a lot of shareware that has mining side loaded in the background. You could be mining right now, and not even know it. see the UFC FightPass fiasco.

The newer crypto-currencies are supposed ASIC resistant. Maybe that will start becoming a drain if they catch on like BTC, but i really doubt any other crypto currency will sustain itself.
 
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