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1322
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Bitcoin / Press / Re: [2013-11-28] FORBES Global Bitcoin Computing Power Now 256 Times Faster Than...
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on: December 01, 2013, 01:13:13 AM
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I hate these kinds of comparisons. Supercomputer processing power is measured in Floating Point Operations per Second (FLOPS), while SHA256 hashing is pure integer arithmetic. Furthermore, (super)computers can be programmed to all kinds of tasks, ASICs, which now make up almost all of the network, can do only one thing.
It's like saying a toaster is 256 times more effective than a lightbulb at making toast.
It sounds good to the average reader. We're not the average reader. |
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1323
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Other / Off-topic / Re: A warning about Rpietila
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on: November 30, 2013, 08:22:18 PM
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New people should be aware that this forum is full of sharks. There have been more scammers here than I have ever seen in any internet community. Tread carefully and don't trust anybody.
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1324
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Economy / Economics / Re: Peter Schiff on Bitcoin
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on: November 27, 2013, 05:02:28 PM
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I like Peter, he was economic advisor to Ron Paul during his 2008 campaign. They are both great advocates of Austrian economics and ran with the intention of educating the public about the dangers of fiat currency. I know I wouldn't have understood the importance of Bitcoin if not for these guys, Ron Paul in particular. However I do think he's wrong on this. I suppose I can't blame him, it's devastating to his business  |
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1330
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Economy / Speculation / Re: Tired of the 800's
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on: November 24, 2013, 07:25:54 PM
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Your crazy for not selling at least 5-10% of your bitcoin holdings at this price. It may go higher, but most likely it will not and will probably go lower.
More advice from am newbie who doesn't know how to read bid and ask depth or various other factors. I've seen nothing but criticism from you in your recent posts with no offering of advice on whether to buy or sell or stay. I know it can be frustrating to see the new posters posting their thoughts without experience but you seem to have made a hobby of criticizing them. Get over your OCD behavior and you will find time to do more productive things. No offense but this isn't a forum full of people that want to help you. To some this place is simply a way to spread FUD and talk to price down so they can increase their stash when the noobs sell. While there are good people here, there are just as many scammers, liars and thieves. Money and greed tends to bring out the worst in people, and no one is going to hold your hand. Welcome to the forums. Or Mos Eisley Cantina, which is what this place begins to resemble after you've been here awhile. |
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1331
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Economy / Speculation / Re: The Great Crash
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on: November 24, 2013, 07:14:31 PM
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You will all be so sorry when The Great Crash will begin. We might even go to single digits, although we won't be there long.
Just because you sold and invested more than you care to lose doesn't mean the price is going to come down. /ignore |
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1332
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Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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on: November 24, 2013, 07:16:14 AM
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Memo to would-be weekend manipulators: your shenanigans are becoming sad and pathetic.
Most coins are now held by strong hands not stupid enough to believe that whales would permanently liquidate large coinage at the time of the week when there is the least liquidity. We all know you are trying to trigger fake panics and bearish technical formations. And we know you intend to buy those coins back just as quickly as you sold them.
If you want us to stop yawning, do a dump on a weekday, when people are awake, during real banking hours.
Thank you. I happened to look at my phone during the dump, and saw sub $800. Meh. I was at a holiday party, couldn't be bothered. |
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1333
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Economy / Speculation / Re: Gold collapsing. Bitcoin UP.
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on: November 23, 2013, 11:42:42 PM
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Wow... bitcoin is at it again. Will we sit it hit 1,000 USD on USD based markets? Or will someone dump hard right before it gets there? There's much money to be made dumping, and then buying everything back at lower prices. We'll have to wait and see.
Dumping is much riskier now. It used to happen quite a bit, sometimes accompanying a DDOS, with varying degrees of success. Now, it takes thousands of coins to move the market, and if you can't buy back lower (plus fees, slippage), then the manipulator is poised to lose big. |
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1334
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Economy / Speculation / Re: sold at $600. what to do?
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on: November 23, 2013, 11:04:50 PM
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Took 0.5 BTC and sold last week at $720. Bought back at $380 and sold again at $450. Bought at $435 and then sold at $580. Just bought in this week at $633 and sold this morning at $829. Seems like a pretty easy way to increase your coins without actually doing anything...
Except for the one time you sell and the price doesn't go down. |
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1335
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Economy / Economics / Re: Is 5 BTC enough to save for 2 or 3 years?
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on: November 23, 2013, 08:09:10 PM
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What do you think is it enough 5 BTC or is to little.
I recommend that you heed JayDT's advice and ignore the others. Unfortunately the majority here seem to be slavering nutters whose delusional projections just happened to by sheer chance, land them on the very right side of a trade that has turned out to be the undisputed investment opportunity of the 21st century. While they may have been right, (through complete fluke), it certainly don't make em wise. You could say that about professional athletes who come from humble beginnings but hit the genetic lottery. They find themselves with huge salaries and "friends" who would like nothing more than take advantage, not to mention beautiful women who would like 50%. I read somewhere that a very large percentage of NFL freshmen go bankrupt in the first years of being nouveau rich. Same goes with lotto winners. All that money suddenly finds themselves in a heap of trouble as everyone wants a piece. So you're right, but my point is that they may not stay wealthy for a variety of reasons. And they surely don't represent the majority here, you're wrong about that. |
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1336
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Economy / Speculation / Re: Accumulating coins
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on: November 23, 2013, 06:26:14 AM
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Personally, I mine litecoins with the spare gpus I have lying around. Unless you already have the hardware or have access to free electricity, mining probably isn't a good idea at this point. If you want to invest more, buying BTC is your best bet.
Same here. It's not much (Radeon 4870) but mines ~1LTC/week. Earlier this year I made 0.1BTC in a month with it. Anyway, just take what money you have set aside to invest, and buy at set intervals. Dollar cost averaging. Coinbase has a feature for it. |
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1339
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Economy / Speculation / Re: Who else?
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on: November 22, 2013, 07:43:06 PM
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I've had zero productivity this whole rise.. days spent staring at charts waiting for something to happen, yet, I've made more money doing absolutely nothing than I ever have doing anything.
Same here. It's mind boggling. |
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