Yes I use bitcoin as a currency for buying some goods and in game goods in bitcoin accepted stores
and I store bitcoins for investments and also for future purposes.
Yes, I also voted for "Both of them" although it's still pretty hard to buy things with Bitcoin where I live. So Bitcoin is mostly an investment to me, and it's a pretty good one I must add. |
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There is no such thing as mining Bitcoin by hand or on paper. I am 100% sure that you just read one of the threads where someone asked the algorithm used in mining so that he/she could try doing it on paper, and for some reason, decided to create a separate thread for it. You can only mine Bitcoins on an electronic device connected to a network of Bitcoin nodes. Assuming that you can perform at least 1 hash/sec with your bare mind -- which is currently impossible for humans -- you would still need to find a way to magically send that piece of paper to computers all over the world to do what you want to do.  It's extremely impractical and would drive you to madness, but it's just math at the end of the day. Here's an article for OP: http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.htmlIn a related article, you can create a bitcoin private key with dice  http://www.swansontec.com/bitcoin-dice.htmlI know this a completely pointless task, but that was a very interesting read, thanks for the link The author was capable of doing 0.67 hashes per day with a pen and paper.. That's pretty insane.. OP, even if you are capable of performing the cryptographic functions by hand, you would be dead long before you accomplish anything useful  I found that a very interesting read too, also there is a lot of interesting information in the comments below the article. Although it's impractical in case you want to mine some coins which worth anything, it's still nice to read if you want to understand a bit more about how it really works. |
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I think the best way to manage money is to have a budget. As for me, I have a budget each month for my should be expenses and as much as possible I spend only what is allotted in the budget or less. I have a record of all my expenses in my excel file so that I can monitor my spending everyday. But before anything else, I pay myself first which means I save first when I received my salary and then allocate the remaining amount to my should be expenses. Through this way, I am sure that I can save every time I received my salary. It should be savings first then expenses not expenses first before savings because more often than not, there will be nothing left for savings because I will be spending more than what I am supposed to.
This is great budgeting of the salary and that is correct that saving will be mandatory every time you received your salary even it is only a little portion of your salary. But you need to include to your budget the case that you do not want to happen "emergency cases". Regardless of how much we earn we should always consider to save some amount, we don't see the future and anything can happen that might be bad that requires immediate money, without savings we have nothing to use when that times come. Normally I don't like to say something when I disagree with an opinion but now I can't resist the urge to protest. Imo saving money for the times when something bad happens you are neither living now nor you can say for sure that the amount would be enough. As you've said by yourself "we don't see the future and anything can happen" and exactly that's why we can't guarantee the money we are saving now for "the bad times" will make things any better then. |
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I have lost nearly $40,000 USD in the past month gambling on bustabit, primedice, and moneypot. You would think that I would have learned that I would have learned by know, but every time I have money in bitcoin, I want to gamble it. I even lost 10 bitcoin in one roll on primedice.
I made around $50,000 last month, so I was still able to live, but it's still affecting me. I know the money I am currently making won't last forever, and I need to save it, but it's hard.
It's just burned in my mind to gamble every time I have btc, and I don't know why.
I am a partner big btc company, and am paid in btc, don't want to say which though.
A suggestion I was given was, every time I am paid, to convert to fiat, but idk...
Any suggestions are appreciated..
If you are a Bitcoin fan I understand your unwillingness to convert your earnings to fiat. I have this suggestion for you: ask one of your parents or relatives to create a wallet and after receiving a payment transfer 90% of it to that wallet. With the remaining part you can either gamble or buy food and other things you need, it's up to you. |
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Bitcoin is a long term project. Therefore is makes sense to save small parts over a long horizon. Do you save Bitcoins for your (grand) child or children?
For those who do not have (grand) children (yet), would you save Bitcoin for them if you would have (grand) children?
Of course I would do that. In fact I think I'm kind of doing this already. I don't have grandchildren yet but I know that that time is not far away and I also know that in 25-30 years when they will be grown ups a couple of coins worth $20k each wouldn't hurt. |
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This is something I'm rather curious about. How many people here own coins but have plenty of debt too?
I'm not talking mortgages, you get somewhere to live and a free house at the end of it so that's very handy, but rather loans and credit to service as well as owning some Bitcoin.
If so, have you locked it away with the intention of never touching it no matter what happens or have you had to dip in to pay off some debt?
IMO if you have a debt you should pay it as soon as you can. So locking your coins to never tuch them and having a debt at the same time I think is not a good idea. I sold 0.5 BTC once to pay my debt and from that time I'm trying to live without debts no matter what happens. |
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It depends on my mood at the moment I'm gambling. Most of the time I can stop before losing more than $2-$3 but sometimes I'm trying to recover the losses although I know that's a stupid thing to do. I lose more at that times, but fortunately not many anyway.
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What is Max amount of btc you owned once, and where did you spent these?
My max amount was 1.5 BTC. Sold 0.5 when I was desperately needing cash. I'd better didn't do that, Bitcoin was $260 at the time, but life is life. I'll try to just hold my BTC in the future. |
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Was planing to invest on a gambling site since they said its a gauranteed profit since the house can't lose but I'm still skeptical about it, i don't have much BTC so I have to make sure whether its going to be profitable for me. What possibilities could happen to the gambling site i wanted to invest into and how am i going to lose my investment in such a manner?
There are some reputable gambling sites, you can read about them on this forum and you can invest in some of them if you want, but you should always remember that any investment is risky. So don't invest more than you can afford to lose. |
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When and how you Got your First Dollar in Bitcoins???
I was doing faucets like MoonBitcoin, BitcoinZebra, Freebitcoin and others like them. It took me 2 months to get my first Dollar in Bitcoins. It was hell I must say. People starting with Bitcoin today can do the job much quicker. |
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Anyone ever stop gambling? but then gamble again?
What are the reasons you come back to gamble?
Yeah, done it many times. Reasons? No reasons to justify it, jusr simple curiousity I guess. Gambling is not a big problem to me because I'm not losing money with it, not big money anyway, maybe less than $5 per month. But the time, on the other hand, I lose a lot of time with gambling sometimes. |
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Probably those cam chicks that accept bitcoin  Do they accept Bitcoin though? I think it's the site who really accepts Bitcoin and the site is paying them a fraction of what they've earned, most likely in fiat. I may be wrong so I'm waiting for a reply from someone who knows better. |
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If there are less miners, difficulty decreases and thus increasing profit. It's an endless cycle.
Exactly. If only a few miners left they will be rewarded big so no reason for them to leave the game. And that's the beauty of it, it can't be stopped. |
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Well, we are different from what we were 1 year ago, that's for sure. Actually I like the theory which suggests that we are different every new day of our life. I'm not saying we have our mind changing completely, no, but there is always a slight difference from what it were a day ago.
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Where abouts do you people live that are getting such cheap electricity? Do you live next to a hydro generating station? In my country no one has prices as low as a cent a kw or $2 a month. The potential to earn profit with this cheap electricity is endless. You could literally outlay as much as you wanted on hardware and still be making profit for years.
I live in Venezuela, I want to invest in this mining thing because of the cheap electricity and I see some people make good money out of this, I just would like some advice on getting started and maybe I can lend a hand to a bro in need, who knows. I've read somewhere on this forum that in Venezuela, although the price of electricity is very low, the situation for mining Bitcoins is bad, mostly because it is almost forbidden to mine Bitcoins or something like this. Maybe the situation is different in different parts of the country and you'll be okay, but you should check it by yourself before starting the mining process. |
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I'd say right now is a good time to buy. It's not an investment when you'll double your money in no time, but if you can afford waiting for one year you'll have your profit for sure.
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My style is low bet amounts at from 0.01% to 1% winning chance. I almost always win betting like this ... but then I bet big at 50% and lose all my winnings. Happened many times, don't know how to stop this.
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Well, almost everybody here is saying: "I will buy as much as I can and when price increases I'll sell them". The question is when to sell. Say you've bought 100BTC for $1 each and then seeing it's $100 each you sell them and you have $10k which is not bad but I bet you'll be regretting your decision if you'll see Bitcoin price over $1k.
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I want to know that girls also gamble?
If yes then it looks like the number of female gamblers is negligible with respect to male gamblers. why?
I know a lot of girls gambling on PrimeDice for example. Also you should take into account that you can't say for sure is it a girl or a guy you are talking to on the Internet. Girls are gambling too and that's a fact, but what pecentage of the gamblers are girls - nobody can tell. |
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In finding information about bitcoin,searching from google, I landed on this site. While reading and jumpng from thread to another, i fiond also how to earn bitcoin in signature campaign,trading and doing some easy online jobs here. No doubt,bitcointalk.org is the number one resources about bitcoin and other cryptocurrency.
I have almost the same story about myself so I agree with you. Maybe there are other places too where you can get information about Bitcoin and things connected to it but bitcointalk.org is better for me because here I can see the reaction of the people I trust on a particular piece of information and that's important. |
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