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Author Topic: What do you spend your hard earned bitcoins[btc] on?  (Read 1806 times)
Badonkadonk
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September 17, 2012, 01:28:05 PM
 #21

it is ye, asic is a type of chip... cpu is asic, gpu is asic etcetc, this is just a new type of tech thats waaaaaaay faster at mining

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VogueBlackheart
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September 17, 2012, 04:58:37 PM
 #22

I do not advocate the usage of bitcoins in transactions where fiat currencies remain viable as a substitute, in the same way that I wouldn't trade gold or silver bullion as currency before exhausting other means of exchange. Bitcoin is, I believe, lower on Exter's pyramid than fiat, and may prove to be lower than even the monetary metals themselves. All will rise in purchasing power relative to paper assets. As long as the service infrastructure for Bitcoin commerce is thoroughly in place at the point of acute decline in fiat currencies, I don't think it matters if anyone was using it to buy or sell goods and services; being highly liquid and easy to access, it is capable of taking the reins from fiat at a moment's notice.
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September 17, 2012, 05:02:31 PM
 #23

I like to buy silver and sometimes advertising Wink


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September 17, 2012, 05:05:31 PM
 #24

I used it for speculation, and improving mining equipment as well as paying programmers to get my own pool running.
Sadly i got burned on my speculation on qe3 last week, and the programmers i payd did not managed to get my pool runnning by now  Undecided

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yrtrnc
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September 17, 2012, 05:17:29 PM
 #25

 
I used it for speculation, and improving mining equipment as well as paying programmers to get my own pool running.
Sadly i got burned on my speculation on qe3 last week, and the programmers i payd did not managed to get my pool runnning by now  Undecided


Sorry to hear that..
Severian
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September 17, 2012, 05:38:13 PM
 #26

So what do you spend your hard earned BTC on?

I save most of my btc and send a small percentage to bitcoin developers as donations.

If we support our developers, they'll support us.
yrtrnc
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September 17, 2012, 05:42:52 PM
 #27

Is there like a bitcoin savings account you can use?
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September 17, 2012, 06:37:38 PM
 #28

I like to stare at them Cheesy
ladida
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September 17, 2012, 09:12:32 PM
 #29

mostly computer stuff Smiley
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September 17, 2012, 09:15:35 PM
 #30

I'm constantly loosing my BTC on GLBSE at a slow rate, thanks to my awesome trading skills.

But at least I have fun. It's more fun than gambling.

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September 18, 2012, 02:20:00 AM
 #31

So what do you spend your hard earned BTC on?

Or do you hoard them hoping the exchange rate will go up?

Gambling with some.

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VogueBlackheart
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October 02, 2012, 08:30:34 PM
 #32

The one thing I do use bitcoins for now: I've given several friends 1BTC as a gift. I let them know they can cash it out for the $12.50 or whatever the rate at the time is, but I recommend they hold on to it. They make an online wallet, I send it over, and a new Bitcoiner ...Bitcoineer? Bitcoinator!... is born.
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October 02, 2012, 08:32:51 PM
 #33

Gambling with some.

Oh, I do that too. Guess I'm not the hoarder I think myself to be. Made a pretty nice return betting on Pirate's default in August, though. Cheesy
Monkey1
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October 02, 2012, 09:13:34 PM
 #34

Is there like a bitcoin savings account you can use?

There is a decent investment called pyramining whwere your investment is used to buy mining hardware, which then works to pay back your investment plus at least 10%.  Check out the links in my sig for a full explanation and the opportunity to participate.  PM me if you have any questions.

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seot
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October 07, 2012, 12:46:34 AM
 #35

I do not have many but after looking arround here I decided to invest in Pyramining. I have not the technology nor the knowlege to do the mining myself so I see Pyramining a way to outsource mining  Cheesy
HeavySteel
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October 07, 2012, 01:03:11 AM
 #36

I am selling Walmart, Target, and Amazon gift cards on www.bitmit.net.  They are a great way of spending bitcoins in the real world.  Amazon claim codes are also available.  Check it out.

http://www.bitmit.net/en/shop/c/23-money/2-us-dollar

In general, Bitmit is a great way of buying and selling items with bitcoins via its escrow feature.  It is the eBay of bitcoins.

Target mobile gift cards -- electronic and anonymous.  Spend them on-line or in-store.  Get them here:
http://www.bitmit.net/en/user/heavysteel
kwoody
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October 07, 2012, 06:45:36 AM
 #37

Ideally, one spends BTC on hard-to-acquire items, resells those items for fiat, and then converts the fiat back into BTC. This helps to drive the market.

Take for example, 1 LB medical grade Cannabis on SR for 230BTC. This is roughly $2775 at current exchange rate. Some parts of the US, an OZ sells for 400+. That's $6400. Double your BTC in a month, with a couple OZ for yourself/more profit.

disclaimer: I do not condone or suggest or take part in illegal transactions.
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October 07, 2012, 08:56:31 AM
 #38

I do not have many but after looking arround here I decided to invest in Pyramining. I have not the technology nor the knowlege to do the mining myself so I see Pyramining a way to outsource mining  Cheesy

You should only invest if you do it yourself, especially with GLBSE gone now. Since pirate everyone seems to have a license to steal. Bonus pool just stole 2 months worth of earnings from miners also. It's just not safe to trust anyone now. Investing in btc has so far, proven to be a lot more profitable then mining anyway.

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October 07, 2012, 10:22:11 AM
 #39

newbie question: what is ASIC?, I presume from your posts it's a mining machine. Is it the same as the one that Butteryfly Labs is selling? Thank you

ASIC stands for 'Application-specific integrated circuit'. You are right, it is a mining device! Compared with current hardware such as GPU's it is much more efficient and produces many more Mh/s (in fact in most cases gh/s)

The new products from BFL are most certainly ASIC's yes Smiley

Invested proudly in Pyramining
seot
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October 07, 2012, 03:42:12 PM
 #40


You should only invest if you do it yourself, especially with GLBSE gone now. Since pirate everyone seems to have a license to steal. Bonus pool just stole 2 months worth of earnings from miners also. It's just not safe to trust anyone now. Investing in btc has so far, proven to be a lot more profitable then mining anyway.


Thank you for your advice Beans, I´ve seen there has been a lot of trouble with various "pirates" arround here. I am just investing free earned Bitcoins   Wink , very very few Btc.  So, if I loose something, it will only be Time.
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