Typo for MOON?

I was wondering that myself. Any info provided by the admin would be greatly appreciated!

Hey all. Here is what I'm considering:

Getting a $10,000 loan to buy parts to build mining rigs.

The loan quote I got from Wells Fargo was $10000 for 60 months at 10.233% APR, monthly payment of $213.62.

The risks I can think of are:

1. Bitcoin and altcoins crash in value so hard that no profit can be made.

2. Power surge destroys the rigs, even though they are plugged into surge protectors.

3. Freak natural disaster/fire destroys their location.

4. Someone somehow discovers where they are and steals them.

5. My income from apps I have on the app store suddenly stops.

Apart from number 3 I think all are either totally avoidable, or such a low chance of happening that it is worth it.

I think that number 5 is the most likely, but I highly doubt that the income would just suddenly stop. Slowly trickle down, month after month, but not stop.

What do you guys think? Am I missing something?

Based on www.coinwarz.com

Mining DOGE it would take a little more than 2 months to completely pay off the loan.


Anyways, let me know your thoughts.

Thanks

Based on numbers from Coinwarz.com I'd say absolutely!

Economically it is an excellent investment considering the risks.

Scrypt Asics are not worth it right now. The chances of a rig being obsolete soon is next to none. ROI is almost certain.

Here's how I see it (If I'm missing something, anyone is free to let me know!),

If you can make 10% annually on the stock market, your doing it right!

According to current prices and coin difficulty, a rig mining DOGE would pay for itself in about 2 months. That's making 600% annually! Assuming prices and difficulty stay the same of course.

The risks you would be taking with a mining rig are:

1. Power surge occurs. Your entire rig gets fried. Easily avoidable by always plugging the rig into a good surge protector.

2. component failure. If something on the rig fries, you have to replace the part to continue mining, but you also lose mining time. Every minute counts. The more time your miner is off, the more profit you just thew away.

3. The coin you are mining tanks in value. This can be remedied by using a pool such as Multipool.in and always mine the most profitable coin, and sell the coins for bitcoin as often as you can.

4. Bitcoin and cryptocurrencies as a whole crash in value. All of a sudden nobody want them anymore. (This is what I hear from "non-believers" lol). HIGHLY doubtful but still technically possible. The remedy for this would be to sell your Altcoins for Bitcoin, then sell the Bitcoin for USD as often as you can. The downside here, is that you won't experience any growth with the bitcoin price increase that will almost definitely happen over the long term.


As a whole, each risk is either avoidable, or will not cause catastrophic failure should the worst case scenario occur.

Short answer: Get a mining rig!

What settings did you use to test it to achieve the 590kh/s?

What forms of payment are you accepting?

When you say 3000MHz, I assume you meant 3000Kh/s correct?

Given that it's their business to make money with money, I can't see how any bank, big or small, could ignore bitcoin.

That would be an interesting piece of art if done correctly!

Unfortunately I have to say that I would not buy one. At least not for $10.

The use I see in something like this is for a keepsake piece, and to introduce people to bitcoin. Both are valid uses, just not something I see being worth $10 a pop.

Now if these were to be minted in silver, I'd sign up in a heartbeat.  I don't mean to be a downer, other people may really enjoy them, at that price it just wouldn't be for me.

At $5 a piece, I would be MUCH more interested. But at that price, it might not be worth your time.

Excuse me while I... uhh...

*goes to type in private key*

Wouldn't that be something!

Apparently so. I emailed Trade Fortress, and was told bitcoin would be paid out based on how many each person had deposited.

I have not received anything yet.

"Trace" is that someone's name? Or typo?

That's amazing! Lol I had no clue this could be done...

God I love technology!

I swear if I was born 100 years ago, and could see the future, I would probably go insane, just out of frustration with the current state of things.

Really? I guess I haven't been paying that much attention...

Hey people, anyone notice that 1 BTC is super close in value to 1oz of gold?

I'm not sure why, but I feel like this is a huge milestone or something.

Anyone else out there feel the same,  or am i just crazy?

Oh god.... That was just painful to read.......

But on the brighter side, we all have bitcoin that's worth that much more!

I still feel terrible for him though...

This idea has a huge flaw unfortunately.

I could simply forget the 8 characters I was supposed to remember.

I would not entrust my money to my memory. :p

Someone mentioned making an image of the private key, and encrypting that. That sounds pretty slick to me, and extremely difficult, if not impossible, for any virus to steal.

This is one of the routes I will probably take.

Sorry, I have no clue what "M of N backups" are...

Could you please explain, or un-abbreviate?