Bitcoin mining, is this story real
| # | Post |
|---|---|
| 1 | https://ucpnz.co.nz/2021/07/13/deep-in-rural-china-bitcoin-m According to this story, the average joe outside of these guys, really don't have much of a chance. mrfxit - 2021-09-26 15:48:00 |
| 2 | Bitcoin mining hasn't been particularly viable for years except for large scale farms of ASICs Edited by king1 at 4:13 pm, Sun 26 Sep king1 - 2021-09-26 16:05:00 |
| 3 | I dunno but when bitcoin first appeared Hubby was very tempted to invest $1000 to buy some. Just as a Gamble but he didnt feel he had enough of an understanding of it to make him happy it wasn't just money down the toilet. Pity. They were around $0.10c each then. Edited by nice_lady at 4:08 pm, Sun 26 Sep nice_lady - 2021-09-26 16:07:00 |
| 4 | Better to buy bitcoin on the day the price is low, sell it when the price is high, rather than running a farm with fixed daily costs and no idea of how it works. gyrogearloose - 2021-09-26 16:11:00 |
| 5 | its a broken system. the many many scams, thefts, hacked exchanges, and govt seizes should be enough of a warning to all, but the most greedy. Edited by bitsnpieces2020 at 8:18 am, Mon 27 Sep bitsnpieces2020 - 2021-09-27 08:18:00 |
| 6 | bitsnpieces2020 wrote: you could probably apply much of that to the financial system as a whole to be fair... king1 - 2021-09-27 08:46:00 |
| 7 | king1 wrote:
I do agree. It's all a big 'house of cards' and it's VERY shaky. nice_lady - 2021-09-27 09:30:00 |
| 8 | Despite all the attempts of legitimizing it, its very much like gambling and similarly you can win a lot or lose a lot. This is speaking from someone who took part and actually came out a winner. If you can afford to lose what your playing with (and dont care so much if you end up with nothing) then you will be fine and you could win big. mikek - 2021-09-27 10:01:00 |
| 9 | mikek wrote:
Oh yeah the only rule of gambling, ( or 'investing' which is always a gamble), is: Never invest/gamble more than you're prepared to lose. Hubby could've afforded to lose that $1000 even 10 years ago or more when bitcoin came on the scene - but he just couldn't get his head around it so just didn't bother. nice_lady - 2021-09-27 10:11:00 |
| 10 | nice_lady wrote:
Dont feel to bad, back way back when I got given 1000 bitcoins (worth about $1k at the time) - I sold them for like 2k and thought I was the wolf of wall street. Today they would be worth $50m+ lol mikek - 2021-09-27 10:41:00 |
| 11 | king1 wrote: Nah, the last part. a capped number of units (can't cope with inflation), combined with a 'lost forever' security system, is totally unsustainable. bitsnpieces2020 - 2021-09-27 11:36:00 |
| 12 | mikek wrote:
Ouchy???? nice_lady - 2021-09-27 11:43:00 |
| 13 | It's like the guy who was super happy to make one of the first bitcoin transactions spent 10,000 bitcoins on a pizza. bitsnpieces2020 - 2021-09-27 11:46:00 |
| 14 | nice_lady wrote:
its all good, obviously 50m was never real, unless I was in a coma and just woke up I like everyone else would have sold way before at 10k, 20k, 50k, 1m whatever - I just happened to sell out at 2x - bummer but oh well. mikek - 2021-09-27 14:06:00 |
