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Title: [2014-2-10] Valley News Live - Can you Really Make Money on Bitcoins? Post by: bjornsni on February 12, 2014, 06:15:28 AM My local news attempting to explain...
http://www.valleynewslive.com/story/24686467/can-you-really-make-money-on-bitcoins-or-is-it-a-fad Title: Re: [2014-2-10] Valley News Live - Can you Really Make Money on Bitcoins? Post by: bryant.coleman on February 12, 2014, 07:46:52 AM In 2010, the exchange rate was 1 USD for 1,000 to 1,500 BTC.
Now it is reversed. So yes. You can make money. ;D Title: Re: [2014-2-10] Valley News Live - Can you Really Make Money on Bitcoins? Post by: teukon on February 12, 2014, 05:17:27 PM That was a fun read: nostalgic, highly recommended. Here are some highlights:
The labour theory of value: Quote "The value in them is that it becomes increasingly more difficult to create them until you reach the limit of 21 million bitcoins... that's the value," says Dr. Wettstein. Chinese whispers: Quote The first purchase ever using bitcoins was for a pizza. One guy gave another guy "x" amount of bitcoins to buy him a tasty delivery. So many coins were used for the transaction today that pizza would be valued at 750 thousand dollars! Note: the trade was 2 pizzas for 10000 BTC (at 750 USD/BTC, that's 3.75 million USD per pizza).Speculation on recent market movements: Quote That NDSU professor who contributed to this piece, Greg Wettstein, actually predicted that hackers were already trying to figure out how to get to miners digital wallets to take their bounty. And that might be part of the reason for the massive drop in Bitcoins value which occurred today. Title: Re: [2014-2-10] Valley News Live - Can you Really Make Money on Bitcoins? Post by: Gabi on February 12, 2014, 07:08:58 PM A so so article, it focus mostly on the "mining" part, but without explaining what bitcoin is and how it works. If you don't know bitcoin and you read that article you learn that there is an "electronic currency", that you can "mine" it with a software and that its value is rising and that
Quote While that value has absolutely increased over the years, the fact that there is no oversight or protection by the federal government on bit coins may deter many from getting involved. Title: Re: [2014-2-10] Valley News Live - Can you Really Make Money on Bitcoins? Post by: hilariousandco on February 13, 2014, 11:56:12 AM In 2010, the exchange rate was 1 USD for 1,000 to 1,500 BTC. Now it is reversed. So yes. You can make money. ;D Yeah, but you can also lose it - see recent crash. But at least you can just hold the coins and they usually bounce back pretty swiftly. |