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#304108 - 11/25/17 05:35 PM Bitcoin
pdx rick Offline
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Do any of you Ranters own Bitcoin? Hmm


My ex has been pestering me for years to open a Bitcoin. I tried to open an account a couple of times and was never approved. It seemed kinda dodgy.

Anywhoo...

He came to visit me and Sammy dawg the weekend of November 3rd, 2017 and again Bitcoin came-up ( rolleyes ) and he pestered me about getting an account. I was like: Whatevs... coffee

I finally got an account opened while he was here, but then the verification of a bank account didn't happen (credit union account - not my main account because of Bitcoin's dodgy reputation) and I kept working at it and finally I got full-fledged approved for an account.

Bob seeded the account with $10.00. Over the course of 10 days, he's add $2.50 there, $5.00 there, and finally on SUN NOV 20th, I had $45.xx in the account. Ok, fine, nice. (Whatevs...) crazy

On WED NOV 22nd, I woke to an email from Bob all excited about Bitcoin, it had jumped big time. My little $45.xx account on SUN was now worth $152.xx three days later. ( I know!! laugh )

Your thoughts? Hmm
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#304111 - 11/25/17 07:39 PM Re: Bitcoin [Re: pdx rick]
Jeffery J. Haas Offline


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Yeesh, you hit the key word....DODGY.
But hey, you seem to like gambling and it appears that Bitcoin has better odds than Vegas, right?
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#304112 - 11/25/17 09:37 PM Re: Bitcoin [Re: Jeffery J. Haas]
pdx rick Offline
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Originally Posted By: Jeffery J. Haas
Yeesh, you hit the key word....DODGY.
But hey, you seem to like gambling and it appears that Bitcoin has better odds than Vegas, right?

My thoughts exactly. I still haven't put one penny into my own account. It's all been seeded by Bob. Hmm

I was considering adding $25 next week when I get paid of my own money. smile
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#304113 - 11/25/17 09:39 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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Bob started his account in 2013 with $250.00. It's now over $15,500.00. I just wonder if he can transfer any of that to his real bank and withdrawal it. Hmm
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#304115 - 11/25/17 11:59 PM Re: Bitcoin [Re: pdx rick]
Jeffery J. Haas Offline


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Oh wait, you mean to say it's in a Bitcoin ONLY account and it's not real money until it gets transferred?
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#304116 - 11/26/17 12:07 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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I guess. Hmm

I'll sell five dollars of my bitcoin account and see if exactly $5 gets transferred in US dollars. I'll report back early next week.
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#304117 - 11/26/17 12:10 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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Ok. I had to sell $6.00 of Bitcoin to get $5.01 transferred to my credit union account. I'll report back when the transfer goes through. It is supposed to take five days.

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#304124 - 11/26/17 05:55 AM Re: Bitcoin [Re: pdx rick]
pondering_it_all Offline
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I assume that 99 cents is the standard fee for any size transaction. So it's not as horrible as it looks. Just put money in that you wan't get upset about losing. Then if it does well, it's all gravy. If it tanks, well that was fun while it lasted.

My problem with all cryptocurrency is that people have figured out how to steal it, and that is just going to get worse. And the little fact that it has no underlying value, like a company that actually makes something, or a bond backed by the US government's ability to collect taxes. It's only valuable because people think it is, which could change drastically.

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#304127 - 11/26/17 05:04 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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All very true. The account is valued at $218 this morning.
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#304156 - 11/30/17 02:28 AM Re: Bitcoin [Re: pdx rick]
Jeffery J. Haas Offline


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You better pull your money out NOW, the bubble is bursting AS OF TODAY, as of RIGHT NOW.
It peaked at 11 thousand bucks and it is now in freefall.
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#304158 - 11/30/17 12:43 PM Re: Bitcoin [Re: Jeffery J. Haas]
logtroll Offline
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There is always a scam afoot when the primary value for a thing is determined by speculation.
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#304175 - 12/01/17 04:28 AM Re: Bitcoin [Re: logtroll]
pondering_it_all Offline
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Yeah, I was going to say that I've got some mighty pretty tulips here...

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#304176 - 12/01/17 05:26 AM Re: Bitcoin [Re: Jeffery J. Haas]
pdx rick Offline
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Originally Posted By: Jeffery J. Haas
You better pull your money out NOW, the bubble is bursting AS OF TODAY, as of RIGHT NOW.
It peaked at 11 thousand bucks and it is now in freefall.

Meh. it's $9,4000. It was only $5,800 when Bob put money into the account on November 11th. I'm still up $200.00. smile

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#304239 - 12/05/17 04:48 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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Bitcoin is up to $11,700.00 today. I bought some of those Ethereum coins today. A whole one is $465.00. I took $175.00 out of my Bitcoin account and bought the Ethereum today.

My account is 23 days old and it's worth $308.00 after the initial $45.00 in seed money. smile

Not bad.

Bobby's accounts is over $20K and it was only worth $7K 31 days ago.
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#304247 - 12/05/17 09:03 PM Re: Bitcoin [Re: pdx rick]
Jeffery J. Haas Offline


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Looks like a bubble, acts like a bubble, smells like a bubble.
Be very careful and know when to get out and get out FAST when the time comes, because when the
bubble does burst, the crash will happen so quickly that your devaluation could happen before the transfer to your bank is even complete.
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#304248 - 12/05/17 11:02 PM Re: Bitcoin [Re: Jeffery J. Haas]
logtroll Offline
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One wonders where the value in bitcoin is being manufactured, since there is no intrinsic worth to it.
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#304250 - 12/06/17 02:25 AM Re: Bitcoin [Re: Jeffery J. Haas]
pdx rick Offline
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Originally Posted By: Jeffery J. Haas
Looks like a bubble, acts like a bubble, smells like a bubble.
Be very careful and know when to get out and get out FAST when the time comes, because when the
bubble does burst, the crash will happen so quickly that your devaluation could happen before the transfer to your bank is even complete.

Very true. My investment has only been $21.00. IBob seeded my account with $24.00 and I paid him back $21.00 of the $45.00 he seeded the account with.

Every thing above $45.00 is all gravy.

$45.00 is a like a weekend at the Indian Casinos for me where I do walk away with nothing. Hmm
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#304259 - 12/06/17 02:05 PM Re: Bitcoin [Re: logtroll]
logtroll Offline
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The Climate Footprint of Bitcoin

Quote:
That sort of precipitous rise is stunning, of course, but bitcoin wasn’t intended to be an investment instrument. Its creators envisioned it as a replacement for money itself — a decentralized, secure, anonymous method for transferring value between people.

But what they might not have accounted for is how much of an energy suck the computer network behind bitcoin could one day become. Simply put, bitcoin is slowing the effort to achieve a rapid transition away from fossil fuels. What’s more, this is just the beginning. Given its rapidly growing climate footprint, bitcoin is a malignant development, and it’s getting worse.
...
Digital financial transactions come with a real-world price: The tremendous growth of cryptocurrencies has created an exponential demand for computing power.
...
Today, each bitcoin transaction requires the same amount of energy used to power nine homes in the U.S. for one day.
...
The total energy use of this web of hardware is huge — an estimated 31 terawatt-hours per year. More than 150 individual countries in the world consume less energy annually. And that power-hungry network is currently increasing its energy use every day by about 450 gigawatt-hours, roughly the same amount of electricity the entire country of Haiti uses in a year.
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#304260 - 12/06/17 05:22 PM Re: Bitcoin [Re: logtroll]
NW Ponderer Online   content
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Originally Posted By: logtroll
The Climate Footprint of Bitcoin

[quote]...
The total energy use of this web of hardware is huge — an estimated 31 terawatt-hours per year. More than 150 individual countries in the world consume less energy annually. And that power-hungry network is currently increasing its energy use every day by about 450 gigawatt-hours, roughly the same amount of electricity the entire country of Haiti uses in a year.
The law of unintended consequences.
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#304266 - 12/06/17 06:41 PM Re: Bitcoin [Re: pdx rick]
pondering_it_all Offline
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That is intentional too! Bitcoin was designed from the start to require more and more computing power to "mine" new bitcoins. It has always been right on the edge of it costing more in electricity to mine than it was worth. It has always hovered around that line, so when it sinks, it is cheaper to buy it than to mine it.

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#304267 - 12/06/17 06:51 PM Re: Bitcoin [Re: pondering_it_all]
logtroll Offline
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Gitcher money for nothin' and your chicks for free...
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#304270 - 12/06/17 08:11 PM Re: Bitcoin [Re: pdx rick]
Jeffery J. Haas Offline


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The article is a bit on the inaccurate side. The transactions use a negligible amount of power.
It is strictly the mining process that uses dozens of terawatts of power.
The actual transactions themselves are just digital words sent via email or via a phone app.
It the generating of blockchains that uses all the power.
Math problems aren't solved when you look up and compare values in a blockchain, they're just verified.

The author, Eric Holthaus, is a meteorologist but he does not seem to understand the electronic aspects of computing, or electronics in general.
It takes almost no power to RECEIVE radio signals, but it takes considerable power to TRANSMIT them, likewise with the Bitcoin network, it takes almost nothing to send and receive transactions, but considerable power to generate the wealth behind them.
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#304274 - 12/07/17 01:28 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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Bob's $250.00 account in 2013 is now worth $24K today.

My $45.00 account on 11/11 is now worth $412.00. smile



I would be lying if I said I wasn't thrilled by this adventure. Bob is over-the-moon.

laugh
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#304288 - 12/08/17 01:18 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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On Sunday, I took out $175.00 from my Bitcoin account and put into Ethereum. That account lost $17.00 but, my Bitcoin account doubled. smile



Keep in mind, this account started out as $45.00 on 11/11. It's not even one month old yet. Hmm

Yesterday, this account was worth $412.00 laugh
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#304314 - 12/09/17 01:26 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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24 hours later. Even with Bitcoin's drop in price from last night, the account is still a wee bit higher. smile



The trend seems to be when Bitcoin goes down the other two go up and visa-versa. Hmm
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#304315 - 12/09/17 03:19 AM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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Bitcoin has been fascinating to watch for so many reasons. It is so symbolic of so much of today's mind sets. It's intrinsic value, speculation, evolving philosophy of means of exchange and governments role in that transactional space.
One troubling aspect of this product is it's carbon foot print: Bitcoin's real world impact
Don't get me wrong, I'm all for a cracker catching a break. Its negative impacts are consequential yet for those lucky enough to get in while the getting was/is good, it's easy to ignore. Bitcoin seems like a good distillation of what's gone wrong, in some ways, with modern amerika. The desire of money trumps consequences just over the horizon.
I struggle with these choices every day and am constantly reminded of how chained to the wheel we all are.
Bitcoin is a perfect analog to that wheel.


Edited by chunkstyle (12/09/17 03:20 AM)

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#304319 - 12/09/17 12:47 PM Re: Bitcoin [Re: chunkstyle]
logtroll Offline
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Bitcoin reminds me of the Mormon religion - it's obviously set up by a con man to be manipulated by a select few for immense ill-gotten gains. There is nothing rational going on there. Yet somehow it has convinced the gullible that it's 'real'.

(I'm not singling out Mormonism as if it's the only scam religion, it's just that we have the complete and recent history of it to appreciate).
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#304320 - 12/09/17 01:38 PM Re: Bitcoin [Re: chunkstyle]
pdx rick Offline
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Originally Posted By: chunkstyle
Bitcoin has been fascinating to watch for so many reasons. It is so symbolic of so much of today's mind sets. It's intrinsic value, speculation, evolving philosophy of means of exchange and governments role in that transactional space.
One troubling aspect of this product is it's carbon foot print: Bitcoin's real world impact
Don't get me wrong, I'm all for a cracker catching a break. Its negative impacts are consequential yet for those lucky enough to get in while the getting was/is good, it's easy to ignore. Bitcoin seems like a good distillation of what's gone wrong, in some ways, with modern amerika. The desire of money trumps consequences just over the horizon.
I struggle with these choices every day and am constantly reminded of how chained to the wheel we all are.
Bitcoin is a perfect analog to that wheel.

You're right. A few people who got in early have gained a lot of wealth, my ex included. His account on Thursday was $24K on $250 in seed money.

My account has grown over 10x in a month.

They'll always be a Debbie Downer-type who is jealous they missed getting in early, or missed getting in even a month ago.

***Sad Trombone***

smile
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#304322 - 12/09/17 01:46 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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Last night's results, Bitcoin is down, but the Ethereum and LiteCoin is making the account grow an additional $5.00. I'll take it. Hmm

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#304324 - 12/09/17 02:16 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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#304356 - 12/10/17 11:46 PM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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That's an amazing amount of return in so short a time Rick. I'm not begrudging you a windfall. Good on ya.
As mentioned, Bitcoin is extremely interesting to watch and I'm happy to miss out by doing so.
I thought this was an opportunity to discuss this new concept. Is it a reserve currency or a transactional currency? What is it's ratio between the two compared to traditional currencies. It's troubling environmentally harmful energy appetite to exist.
Was the purpose of this thread to promote a winning investment opportunity?
Didn't mean to soil the punch bowl.
I hope you do something nice for yourself with some of your winnings.
Another bit coin perspective

Notice the lack of any environmental accountability. That's the current rule of the wheel


Edited by chunkstyle (12/10/17 11:53 PM)

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#304357 - 12/11/17 12:42 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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I have no idea how to answer any of your questions. All I know is my ex for YEARS tried to get me to open an account, and it looks like I did in a nick of time. His account is through the roof.
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#304359 - 12/11/17 01:06 AM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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Are you gunna remember us when your rich?

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#304361 - 12/11/17 01:08 AM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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Also, do you care if your winnings come thru environmental cost?
I know mine have.

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#304364 - 12/11/17 02:04 AM Re: Bitcoin [Re: chunkstyle]
logtroll Offline
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The “get something for little or nothing” attitude may be the most basic desire of the modern American Conservative. The one that is wrecking everything from the environment to the economy to society. But what the hell... as long as I get mine!
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#304367 - 12/11/17 03:42 AM Re: Bitcoin [Re: pdx rick]
pondering_it_all Offline
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I would say that the current price is well above the cost in electricity to mine it, so I expect miners are moving very rapidly to expand their capability. Considering the benefit we all get from computing capacity gains, that is a good thing. In particular, it will benefit the multiprocessor chip space. I wrote the boot code for a chip that had 256 processors in it a few years back. I wonder where the company is now?

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#304368 - 12/11/17 03:47 AM Re: Bitcoin [Re: logtroll]
Ken Condon Offline
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In a market, something, anything is worth what someone else is willing to pay for it at a given moment. Bitcoins included. I exclude some things from this blockchain, but I am having a hard time trying to discern exactly what those things might be.

Even salvation is commltizized. Perhaps it always has been in one form or another. But today one can purchase all of these items over the internet with overnight delivery. Perhaps even with same day delivery via drone. Or internet streaming “bits”.

Everything is for sale. Up to and including--especially including--your own brand. Trump certainly is a master at that. And of course so are the Car Dashians. Perhaps it always has been this way but with Amazon Prime it’s all only one click away. Shipping included for only $99/year!

Assuming your credit profile still has some room to maneuver.
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#304369 - 12/11/17 03:56 AM Re: Bitcoin [Re: chunkstyle]
Ken Condon Offline
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Quote:
Are you gunna remember us when your rich?

Hell, I would be happy enough if he remembered us when he was Rick!
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#304370 - 12/11/17 04:08 AM Re: Bitcoin [Re: pondering_it_all]
Ken Condon Offline
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I am an idjit as far as far as modern computer programming goes. But ask me about FORTRAN and I will put you to sleep in no time. Oh, and I will even throw in some COBOL for spice.

PIA dear sir: Could you guide me to a site that explains “mining” (for value) in a few pages or less or otherwise lends a synopsis that is comprehensible for the older computer retard?? The whole mining concept befuddles me.
.
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#304373 - 12/11/17 04:54 AM Re: Bitcoin [Re: chunkstyle]
pdx rick Offline
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Originally Posted By: chunkstyle
Are you gunna remember us when your rich?

LOL

I'll have to ask Bob, if he'll remember me when he's rich. I'm happy for Bob, he grew-up poor, has been poor his entire life, and this is the first time in his life that he gets to feel how others feel when their time in the sunshine comes.
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#304374 - 12/11/17 04:55 AM Re: Bitcoin [Re: chunkstyle]
pdx rick Offline
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Originally Posted By: chunkstyle
Also, do you care if your winnings come thru environmental cost?
I know mine have.

I'm not sure how Bitcoin impacts the environment.
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#304375 - 12/11/17 04:56 AM Re: Bitcoin [Re: Ken Condon]
pdx rick Offline
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Originally Posted By: Ken Condon
Quote:
Are you gunna remember us when your rich?

Hell, I would be happy enough if he remembered us when he was Rick!

Am I not rick anymore? Hmm
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#304380 - 12/11/17 05:51 AM Re: Bitcoin [Re: pdx rick]
pondering_it_all Offline
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I think he's implying that you might prefer the more dignified "Richard" once you have risen to your proper place in High Society.

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#304381 - 12/11/17 06:11 AM Re: Bitcoin [Re: pondering_it_all]
Ken Condon Offline
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Indeed PIA. Thank you. I only post from my desktop because--just because. And I read your post on my mobile.

An attempt at humor Richard. That’s all.
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#304382 - 12/11/17 06:17 AM Re: Bitcoin [Re: Ken Condon]
Ken Condon Offline
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Imagine that guy from Where Gin Airlines. Sir Rick Branson. Doesn’t quite ring the bell--- does it?
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#304384 - 12/11/17 11:49 AM Re: Bitcoin [Re: Ken Condon]
logtroll Offline
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#304385 - 12/11/17 11:53 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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Something happened to Bitcoin. I'm not quite sure what. Something about a launch on a mercantile exchange. Anyway, here's the account this morning:

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#304387 - 12/11/17 12:14 PM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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It now has a futures market to bet on. Today is the first day to be able to bet on wether the value is going to go up or down but not having to own the actual stock or commodities.

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#304388 - 12/11/17 12:24 PM Re: Bitcoin [Re: chunkstyle]
pdx rick Offline
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Originally Posted By: chunkstyle
It now has a futures market to bet on. Today is the first day to be able to bet on wether the value is going to go up or down but not having to own the actual stock or commodities.

So people can bet that it's going down? mad
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#304391 - 12/11/17 01:52 PM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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Yeah, but I doubt it's going to go anywhere but up for awhile. You could always place a bet against it going down in value to lessen your losses should it go down. Some think the futures market acts as a governor that way and keeps stocks from running away.
I guess you either believe this thing has no down side and the sky's the limit or you decide for yourself what your happy making and get out when you've made it?

As far as the real world environmental costs go:
Debbie Downers dreary depressor from the environmental sustainability desk

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#304397 - 12/12/17 01:19 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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Tonight's value - up $21 from this morning. Hmm

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#304404 - 12/12/17 12:28 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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While I slept, the account grew $19.00: smile

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#304405 - 12/12/17 02:58 PM Re: Bitcoin [Re: logtroll]
logtroll Offline
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Kim Jung Un is making a killing off Bitcoin. Guess there must be something to it if a world leader like him is profiting.
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#304406 - 12/12/17 03:14 PM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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Another day another dollar.....
Oh yeah, and another depression Debbie downer report from the environmental sustainability desk

You realize that your now forgoing all pretense of responsibility for the abatement of CO2 level rise in order to make a buck. Much like drilling in ANWR, pipeline construction and mountain top removal for coal, climate denial, etc...

As I say, I know my investments have lead to environmental degradation and questionable social benefits so I can't criticize. Just rounding out the whole picture of what goes into those spendolies your making. This product is negating efforts to replace coal with renewable, IMHO.

I've been looking to De-carbonize my small investment nest egg and have used a site that allows you to search your stock or investment fund. The site compares your investment to it's peers and gives it a carbon rating within it's investment class. It's my new years resolution to change my funds to less fossil fuel driven ones.
I have a magnet on my fridge that reads 'Save the planet, kill yourself". It's a baseline for what would help.

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#304407 - 12/12/17 03:30 PM Re: Bitcoin [Re: chunkstyle]
Ujest Shurly Offline
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Originally Posted By: chunkstyle
I have a magnet on my fridge that reads 'Save the planet, kill yourself". It's a baseline for what would help.



That is COLD!

However it is a solution to the pollution problems... eek Hmm
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#304409 - 12/12/17 04:20 PM Re: Bitcoin [Re: pdx rick]
Ken Condon Offline
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Mr. Rick you have nothing to lose by remaining in Bitcoin until it plays out to wherever it’s heading. So if I were you I would indeed hang on to it. It’s not like if you lose your original investment you are going to be financially wiped out. Yet for a newbie todays prices are a different matter. Or at least more of a risk.

I just heard some guy on CNBC weigh in on Bitcoin. His thought was that the early investors in the cryptocurrency think the sky is the limit while non investors think it’s a soon to be popping bubble.

Just as he observed that Trump voters think our current chugging economy is mainly due to his election by its unleashing of “animal spirits” while Hillary voters think we are in a soon to pop economic bubble.

I thought that was a shrewd observation that made a lot of sense.
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#304411 - 12/12/17 09:09 PM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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"The total energy use of this web of hardware is huge—an estimated 31 terawatt-hours per year. More than 150 individual countries in the world consume less energy annually. And that power-hungry network is currently increasing its energy use every day by about 450 gigawatt-hours, roughly the same amount of electricity the entire country of Haiti uses in a year"

I believe this product will answer the question of wether it is better to live stupid or live smart.
With it's projected energy consumption rate of growth we should be solidly on the road to a terminal species event.

Bitcoin seems to be the perfect metaphor for mankinds deepest flaws.


Edited by chunkstyle (12/12/17 09:43 PM)

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#304413 - 12/12/17 09:45 PM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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WWBD, rick, WWBD?...... Hmm

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#304414 - 12/13/17 01:58 AM Re: Bitcoin [Re: Ken Condon]
pdx rick Offline
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Originally Posted By: Ken Condon
Mr. Rick you have nothing to lose by remaining in Bitcoin until it plays out to wherever it’s heading..

I agree:



The account made $74.00 while I was at work today. smile
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#304415 - 12/13/17 02:02 AM Re: Bitcoin [Re: Ken Condon]
pdx rick Offline
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Originally Posted By: Ken Condon
I just heard some guy on CNBC weigh in on Bitcoin. His thought was that the early investors in the cryptocurrency think the sky is the limit while non investors think it’s a soon to be popping bubble.

Just as he observed that Trump voters think our current chugging economy is mainly due to his election by its unleashing of “animal spirits”...

More like Obama's residual economy. smile
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#304420 - 12/13/17 04:39 AM Re: Bitcoin [Re: pdx rick]
Ken Condon Offline
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Here is the link I was referring to. Although it was cut off before he got around to discussing the points I referenced. Lo siento.

Please excuse the ad if it should appear. As “they” say--nothing is for free:

CNBC Link
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#304422 - 12/13/17 05:05 AM Re: Bitcoin [Re: Ken Condon]
logtroll Offline
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Not even Bitcoin profits?
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#304424 - 12/13/17 05:56 AM Re: Bitcoin [Re: logtroll]
Ken Condon Offline
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Drumroll-cymbal crash!
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#304437 - 12/14/17 12:27 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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It looks like the account has flat-lined. crazy



It's been basically the same for 36 hours. Hmm
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#304448 - 12/16/17 02:56 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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Yup, flat-lined. cry (A least the account is not losing money. laugh )



If the account grows only $3.00/day while it's flatlining, that is still $90.00/month. smile
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#304449 - 12/16/17 02:59 AM Re: Bitcoin [Re: chunkstyle]
pdx rick Offline
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Originally Posted By: chunkstyle
WWBD, rick, WWBD?...... Hmm

BD? Hmm
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#304450 - 12/16/17 05:13 AM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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Bernie do.....

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#304453 - 12/16/17 12:34 PM Re: Bitcoin [Re: chunkstyle]
logtroll Offline
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Edited by logtroll (12/16/17 03:30 PM)
Edit Reason: fix link
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#304456 - 12/16/17 02:49 PM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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The link doesn't seem to work Logtroll

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#304457 - 12/16/17 03:04 PM Re: Bitcoin [Re: chunkstyle]
logtroll Offline
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Dang it! I wonder what I was reading...
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#304458 - 12/16/17 03:05 PM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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Unless someone can show me otherwise, the price of bitcoin is proportional to how much energy is consumed. Most of that energy is dirty coal. Increasing the burn rate of coal shows a rise in price in bitcoin. The block chain, privacy and facilitating dirty deeds is more of an indirect benefit.
Burn rate of fossil fuel= bitcoin price.

After a school Christmas recital adults gathered at a relatives house for coffe and cookies. Conversation invariably came to bitcoin and who's made enough to buy a boat, house etc.
All college edjumicated people. When I brought up the fossil fuel burn rate/ price ratio no one cared to discuss. No one wants to bring up the road kill that got made on the high octane drive to fat city.
I'm trying to figure out how to set up a saloon or a whorehouse for all the prospectors to what appears to be a global gold rush. Ignoring the treaties agreed on and indigenous peoples butchered will be required as always.


Edited by chunkstyle (12/16/17 03:07 PM)

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#304459 - 12/16/17 03:06 PM Re: Bitcoin [Re: logtroll]
logtroll Offline
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Fixed...
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#304460 - 12/16/17 03:13 PM Re: Bitcoin [Re: chunkstyle]
logtroll Offline
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Originally Posted By: chunkstyle
Conversation invariably came to bitcoin and who's made enough to buy a boat, house etc.

Money makes the world go around.
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#304461 - 12/16/17 03:17 PM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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Greed demands a sacrifice. When nothing's sacred anymore then nothing can be profane.

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#304462 - 12/16/17 03:30 PM Re: Bitcoin [Re: chunkstyle]
logtroll Offline
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Carbon should become our currency.
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#304463 - 12/16/17 03:40 PM Re: Bitcoin [Re: logtroll]
logtroll Offline
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At least carbon should become the basis for our currency. We can mine the atmosphere for it and put it to beneficial use...
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#304464 - 12/16/17 03:45 PM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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Very much agreed logtroll. That kind of realization is fragmented but hopefully growing. More hurricanes on the east coast and wild fires in california may help some. But the lights of fat city are so addictive

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#304465 - 12/16/17 04:39 PM Re: Bitcoin [Re: chunkstyle]
pdx rick Offline
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Originally Posted By: chunkstyle
Bernie do.....

idea

I'm not sure what Bernie would do. Given that Bitcoin is not tied to Wall Street, I would think he would condone but, I'm not sure.

Hmm
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#304468 - 12/16/17 04:51 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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Do we know for sure that the block chain runs on fossil fuel and not solar panels? Hmm
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#304469 - 12/16/17 05:23 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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Bob emailed me and asked if I checked my Bitcoin account today. I said, "No, but I did last night." He said to check it.

Yay!! The account grew $22 last night. laugh

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#304470 - 12/16/17 05:42 PM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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Hi Rick,

If you go back and look, I posted hyperlinks to various articles that explain how Bitcoin is a huge energy suck. Hover your cursor over it until it changes to a ponty finger and then left mouse click on the link. It will bring up the relevant article.
Sanders made quite a few speeches during his campaign about the eminent threat of CO2 level rise. If you go to a web site called YouTube you can search 'Sanders Global Warming' in whats called a search box and YouTube brings up video clips that are relevant to those search words. Like the hyperlink, if you hover over the images and click on them they will bring up the video and play it for you.

Your next stage of revanchism is to deny the authenticity of the evidence (stage three).

Stage 4 is to deny all observational evidence, a.k.a. science.

Whaty'll you have to drink pardnah?


Edited by chunkstyle (12/16/17 05:43 PM)

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#304472 - 12/16/17 07:15 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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The obvious solution is to get an Elon Musk reusable battery farm to run the block-chain. smile
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#304474 - 12/16/17 07:22 PM Re: Bitcoin [Re: pdx rick]
chunkstyle Offline
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Or to simply not think about it at all......

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#304476 - 12/16/17 07:39 PM Re: Bitcoin [Re: chunkstyle]
logtroll Offline
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Not thinking when shiny things are being dangled is the commonest human condition!
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#304477 - 12/16/17 07:56 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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Yet shiny things attract the stupid like Donald J and his cult-like followers.
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#304478 - 12/16/17 09:54 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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The sleeping giant is woke. smile

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#304491 - 12/17/17 05:22 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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Meh...only $10 growth last night. crazy The account seems to grow in the day when the Asian markets are just starting their morning.

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#304514 - 12/19/17 04:01 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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$32.00 is better than $3.00 in a 24 hr period. smile
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#304515 - 12/19/17 04:16 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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The $175.00 I took out of the Bitcoin account a few weeks ago, to fund the Ethereum account, is now back it the Bitcoin account. The monies in the Ethereum account is 100% profit from seeding that account from the Bitcoin monies.

Let's see what happens now. Hmm

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#304528 - 12/20/17 01:40 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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The account lost $107.00 since last night. cry

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#304593 - 12/23/17 01:40 PM Re: Bitcoin [Re: chunkstyle]
logtroll Offline
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I'm curious why Bitcoin trading was stopped in the midst of it's precipitous fall, but was not similarly regulated during its meteoric rise? There seems to be a substantial bias built into the rules...
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#304596 - 12/23/17 03:14 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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The transactions only at Coinbase were stopped because the buy/sell transactions were too many for their system to handle.
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#304599 - 12/23/17 06:49 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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The account is up $9 from the plunge. smile


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#304603 - 12/23/17 07:34 PM Re: Bitcoin [Re: pdx rick]
pondering_it_all Offline
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The reason for the plunge is unknown? Hogwash! Somebody just decided to sell a whole bunch and didn't realize the market was so fragile. Other people saw the prices falling, so they decided to sell too.

This is caused by speculators who don't know to unload large positions gradually. It is made worse because bitcoin has no underlying value, no dividend, no cash. Basically, all the things a normal stock does have. Just purely a reliance on "the bigger fool" to buy it.

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#304620 - 12/24/17 06:06 AM Re: Bitcoin [Re: logtroll]
Jeffery J. Haas Offline


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Originally Posted By: logtroll
At least carbon should become the basis for our currency. We can mine the atmosphere for it and put it to beneficial use...


I'd be willing to bet that mining the atmosphere for carbon would yield a bigger wealth return in terms of energy efficiency than Bitcoin.
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#304939 - 01/08/18 06:05 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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Hello, yeah it's been awhile. Not much how 'bout you?


I'm not sure why I called. Guess I really just wanted to talk to you.

laugh

On December 19th, 2017 was the most I had in the account. Then I moved $175.00 from Ethereum to Bitcoin because I took $175.00 from Bitcoin to start Ethereum, then the whole thing crashed. The lowest the account got was like $534.00

On December 28th, 2017, I cashed it all out, but left the monies in a "wallet" on the exchange. Then on Jan 2nd, 2018, I jumped back in with most money in Ethereum. Then purchased a $100.00 of Bitcoin a few days later.

Now, tonight, January 7th, 2018, I'm nearly back to the high that I was on December 19th, 2017:

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#304940 - 01/08/18 06:53 AM Re: Bitcoin [Re: pdx rick]
pondering_it_all Offline
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Ripple is actually kind of interesting. Several banks worldwide are using it to transfer cash. It's controlled by one company so transfers take about 4 seconds instead of BitCoin's one day. The transaction fee is some fraction of a cent instead of BitCoin's $20 or so. The biggest difference is that transfers and ownership are not anonymous, so it's no good for buying drugs or kiddie porn.

When you transfer some, you let the controlling company know unlike BitCoin where every transfer is sent to every BitCoin holder in the world.

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#304973 - 01/10/18 01:35 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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The account is now worth more than it has ever been - and it's not because of Bitcoin. It's because of Ethereum.



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#304975 - 01/10/18 05:03 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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The above was around 5:30pm PST. This is from 9:00pm PST.

OMG!!!! laugh

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#304991 - 01/11/18 03:48 AM Re: Bitcoin [Re: pdx rick]
pondering_it_all Offline
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Don't forget to keep track of every purchase and sale of cryptocurrency. The IRS is going to see it as a capital gain. Each lot you sell has to be tracked back to a purchase price and date (or more than one purchase). This can be very confusing, especially when you buy and sell the same one repeatedly. Your sale lots end up having several different purchase dates and prices. First In First Out is the general rule, so when you sell you are selling in the order that you bought.

I think The Wash Sale rules will apply too, so selling and then buying again within 30 days is seen by the IRS as not selling, but rather buying at a lower price if you end up with cheaper coins.

Just keep written records of all buys and sales and your tax guy will figure it out. Not for free, though!

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#304993 - 01/11/18 04:38 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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At my income level AND with my piddly little $800 account, the IRS is not going to notice me at all. smile

Besides, it's only reported when I cash out. Hmm
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#304994 - 01/11/18 06:34 AM Re: Bitcoin [Re: pdx rick]
pondering_it_all Offline
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You may be surprised. I think this is why some people use private wallets. Exchanges may send a yearly document of all your sales to the IRS. Stock brokers certainly do.

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#305006 - 01/12/18 01:23 AM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
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Ethereum dives as one of the world's biggest cryptocurrency markets considers a bill to ban trading

CNBC.com


I took a total hit from two days ago. Lost over $241.00. I'm still walking away with more than my $45.00 initial investment. Parked the money in the exchange's "wallet." I'll wait and see. But, I think this cryptocurrency thing is done.


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#305015 - 01/12/18 11:54 AM Re: Bitcoin [Re: pdx rick]
pondering_it_all Offline
veteran

Registered: 02/27/06
Posts: 7923
Loc: North San Diego County
Too bad. You gambled and you won the first time. You are totally screwed.
Now you are going to keep on gambling and always be broke as a result.

Maybe you can keep it down to one lottery ticket a week. Your odds are almost the same as somebody finding a winning ticket laying on the ground. But at least you can feel like you are gamboling and it only costs you $52 dollars a year.

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#305029 - 01/12/18 05:43 PM Re: Bitcoin [Re: pdx rick]
pdx rick Offline
Member
Carpal Tunnel

Registered: 05/09/05
Posts: 41039
Loc: Puget Sound, WA
Quote:
“The South Korean government has no other choice but to follow the regulatory frameworks and trends established by other leading governments.

While there certainly exists a negative reputation attached to the cryptocurrencies, the government’s stance is to allow what has to be allowed, for the benefit of the South Korean market.”

Coin Telegraph.com




I'm back in. laugh

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#305494 - 02/05/18 07:52 AM Re: Bitcoin [Re: pdx rick]
pondering_it_all Offline
veteran

Registered: 02/27/06
Posts: 7923
Loc: North San Diego County
In 2014, 50 cent agreed to accept bitcoin as payment for an album. Then he forgot about it. He remembered when bitcoin hit $10000. It was worth 7 million dollars!

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#305838 - 03/04/18 04:11 PM Re: Bitcoin [Re: pondering_it_all]
logtroll Offline
veteran

Registered: 04/26/10
Posts: 8887
Loc: New Mexico (not old Mexico)
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"You can't fix a problem until you understand what the problem is." Logtroll

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