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1  Bitcoin / Bitcoin Discussion / In the early days of Bitcoin ... on: February 18, 2021, 12:16:29 PM
... how many coins could be mined in a day on a standard home PC?

I saw a guy being interviewed on a news channel the other day about Bitcoin.  Assuming he's telling the truth, he said he stumbled across Bitcoin in the very early days when it could easily be mined with a basic computer.  He said he was easily mining up to 50 coins a day but, given these were very early days for crypto, he didn't really know what he was mining (as in what they could be used for, potential value etc) so he placed no importance on it whatsoever.  So much so, he didn't retain the keys for many of his earlier coins Sad

He said he got back into it a few years back and is now a lot more careful about the crypto he has.  The guy could very likely have been a multi-millionaire by now.  Not sure if he's mining these days (doubt it) or buying/trading.

I find it surreal in a way that you can be sitting today deciding 'do I buy 1 coin for $50k?' whilst only a decade ago you could have been mining dozens of them, essentially for free, on your home PC!  Yeah I know that's all with the benefit of hindsight, however it makes me smile nevertheless.

I wish I'd stumbled across it 10 years ago! Sad
2  Other / Beginners & Help / Avoiding banking challenges (how do you buy crypto?) on: February 14, 2021, 04:13:39 PM
Hi All

I'm new to the forum although have been lurking for a while!  Hoping to start my crypto investment journey this year.

As part of my investigations into starting up, I've discovered my bank (which I don't want to leave) has banned its customers from using credit cards for crypto exchange and broker transactions.  On further investigation it seems debit card transactions are also increasingly being blocked.  Some customers have had their accounts closed which I obviously want to avoid, especially if this then affects things like credit ratings.

This got me thinking and I'd be grateful if those more knowledgeable than me could answer my questions below Smiley

1.  Brokers such as eToro trade in more than crypto e.g. stocks, currencies.  So if I transferred money directly from my bank to a company such as eToro which isn't exclusively crypto, is this likely to be flagged as a banned company from my banks perspective, or is my transaction likely to go through without any queries?  Also, if eToro is then transferring funds back into my bank account, is this likely to be queried?  I'm wondering if my bank has the right (I think they probably do?) to ask what I'll be using eToro for and/or what the incoming eToro funds were generated from.  If that question was posed to me, I wouldn't want to misinform them by saying 'oh it was trading in stocks' when in reality it came from trading in crypto.

2.  To avoid this, am I better to use something like PayPal for my crypto transactions?

3.  If you're comfortable sharing this information, what method do you use for your outgoing and incoming crypto transactions?

Thanks all Smiley
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